EXHIBIT 99.1
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OFFICE OF THE UNITED STATES TRUSTEE
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In re:
DEBTOR IN POSSESSION INTERIM STATEMENT
OUTSOURCE INTERNATIONAL, INC.
Statement Number: 7
Debtor.
For the Period FROM: December 31, 2001
Chapter 11 Case No.: LA 01-28173-BB TO: January 27, 2002
Annexed hereto is Interim Statement Number 7 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, the amounts reflected on the six
affiliated debtor entities represent, by type and amount, the allocable portion
of the Debtor's receipts and disbursements for the reporting period. The
allocable portion was calculated by multiplying the Debtors' aggregate cash
receipts or disbursements by the ratio of this Debtor's net revenues divided by
the aggregate net revenues for all the Debtors. Since Outsource International,
Inc. has no operations of its own and is solely a holding company, the
consolidated receipts and disbursements, for all six affiliated debtor entities
are reflected on the Interim Statement filed concurrently herewith by Outsource
International, Inc., Case No. LA 01- 28173-BB.
Also, 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.
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OFFICE OF THE UNITED STATES TRUSTEE
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IN RE OUTSOURCE INTERNATIONAL, INC DEBTOR IN POSSESSION INTERIM STATEMENT
STATEMENT NO. 7
CHAPTER 11 CASE NO. LA 01-28173 BB FOR THE PERIOD FROM: 12/31/2001
TO: 1/27/2002
CASH ACTIVITY ANALYSIS (Cash Basis Only)
A. Total Receipts per all Prior Interim Statements $123,873,131
B. Less Total Disbursements per all Prior Statements $121,408,659
------------
C. Beginning Balance (A less B) $ 2,464,472
D. Receipts during Current Period
Opening Cash Balance Per Bank $ 100
Plus: Available LockBox Receipts $ 14,865,181
Plus: Non A/R Cash Receipts $ 7,636
------------
E. Total Cash Available $ 17,337,389
------------
F. Cash Disbursements/(Voids)
Advertising (newspaper recruiting) 12,888
Auto Maintenance --
Bank Fees 1,941
Bankruptcy Expenses 44,500
BOA - Committee Accountant Acct 5,000
BOA - Attn. Fees Creditor Acct 30,000
BOA - Attn. Fees Debtor Acct 16,875
Benefits (insurance) 155,259
Board of Directors --
Business License 543
Capital Expense 5,265
Capital Leases 78,020
CIT - Adequate Protection Payment 174,158
Core Payroll 1,572,360
CitiBank Credit Card Payment --
CSF Payroll & Payroll Tax 132,591
Deposits - Various Vendors --
Dues/ Subscriptions --
Education 1,604
Equipment --
Expense Reports 98,906
Flex Spending Acct 2,955
FTB ACH Account --
Garnishments 23,226
Insurance 13,133
IT 2,833
Cash Collateral for Letter of Credit --
Labor Supplies 10,555
Maintenance 14,610
Misc Vendor Prepaid --
Misc Expenses 133,084
Mortgage --
Office Supplies COD 53,929
Operating Leases 70,444
Outside Labor --
Payroll Taxes --
Postage 23,251
Prof. Fees 476,314
Recruiting --
Refund --
Rent Deposit 1,100
Rent 227,643
Retention Account --
Taxes (NonPayroll) 8,781
Service Payroll (Including Taxes) 7,179,724
Telephone 108,565
Third Party Billing (Staffing) --
Transportation 56,305
Travel Advance --
Unemployment Taxes --
Utilities 23,691
Utility Deposits --
Workmans Comp 950,687
------------
Total Disbursements 11,710,739
------------
Closing Available Balance 5,626,650
Outstanding A/P Checks $ 346,930
------------
Ending Bank Balance $ 5,973,580
Unavailable LockBox Receipts 572,415
------------
Total Cash 6,545,995
============
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: February 20, 2002 /s/ Carolyn H. Noonan
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Debtor in Possesssion
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OFFICE OF THE UNITED STATES TRUSTEE
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IN RE OUTSOURCE INTERNATIONAL, INC DEBTOR IN POSSESSION INTERIM STATEMENT
----------------------------
STATEMENT NO. 7
FROM: 12/31/01 PAGE 1 OF 6
TO: 1/27/02
CHAPTER 11 CASE NO. LA 01-28173-BB
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(NEW) (NEW) (NEW)
Medical Insurance
H(a) Funding Accounts Payable Attorney Debtor Fees
H(a) Bank of America Bank of America Bank of America
H(a) 1233436147 1233736075 1233004407
H(a) Concord, CA Concord, CA Concord, CA
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CASH ACTIVITY ANALYSIS (CASH BASIS ONLY)
A. Opening Cash Balance Per Bank 06/12/2001 $ -- $ -- $ --
A.1 Plus Total Receipts per all Prior Interim Statements $ -- $ -- $ --
B. Less Total Disbursements per all Prior Statements $ (368,264) $ -- $ --
B.1 Plus/(Minus) Transfer (to)/from interbank account (net)
All prior Statements $ 374,915 $ 1,092,406 $ 485,021
------------------------------------------------------------
C. Beginning Balance per Schedule B.2 $ 6,651 $ 1,092,406 $ 485,021
(Attach Separate Listing if Necessary)
See Attached Consolidated Statements 1 & 2
D. TOTAL RECEIPTS THIS PERIOD $ -- $ -- $ --
------------------------------------------------------------
E. Balance Available (C.2 plus D) $ 6,651 $ 1,092,406 $ 485,021
F. Less: Disbursements during Current Period $ (69,064) $ -- $ --
(Attach Separate Listing if Necessary)
------------------------------------------------------------
F.1 Net position (E minus F) $ (62,413) $ 1,092,406 $ 485,021
F.2 Other Transactions:
Plus/(Minus) Transfer (to)/from interbank account (net) $ 159,064 $ (50,000) $ (108,125)
------------------------------------------------------------
G. Ending Balance $ 96,651 $ 1,042,406 $ 376,896
------------------------------------------------------------
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(NEW) (NEW)
H(a) Attorney Fees Creditor Committee Accountant Concentration
H(a) Bank of America Bank of America Bank of America
H(a) 1233004421 1233004402 1233820507
H(a) Concord, CA Concord, CA Concord, CA
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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 $ -- $ -- $ --
B.1 Plus/(Minus) Transfer (to)/from interbank account (net)
All prior Statements $ 100,000 $ 15,000 $ (8,145)
------------------------------------------------------------
C. Beginning Balance per Schedule B.2 $ 100,000 $ 15,000 $ --
(Attach Separate Listing if Necessary)
See Attached Consolidated Statements 1 & 2
D. TOTAL RECEIPTS THIS PERIOD $ --
------------------------------------------------------------
$ 100,000 $ 15,000 $ --
E. Balance Available (C.2 plus D)
F. Less: Disbursements during Current Period
(Attach Separate Listing if Necessary) $ -- $ -- $ --
------------------------------------------------------------
F.1 Net position (E minus F) $ 100,000 $ 15,000 $ --
F.2 Other Transactions:
Plus/(Minus) Transfer (to)/from interbank account (net) $ (50,000) $ 5,000 $ --
------------------------------------------------------------
G. Ending Balance $ 50,000 $ 20,000 $ --
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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.
Dated: February 20, 2002 /s/ Carolyn H. Noonan
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DEBTOR IN POSSESSION
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OFFICE OF THE UNITED STATES TRUSTEE
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- ---------------------------------------------
IN RE OUTSOURCE INTERNATIONAL, INC DEBTOR IN POSSESSION INTERIM STATEMENT
----------------------------
STATEMENT NO. 7
FROM: 12/31/01 PAGE 2 OF 6
TO: 1/27/02
CHAPTER 11 CASE NO. LA 01-28173-BB
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(NEW)
H(a) Payroll Payroll Core/Operating
H(a) Bank of America Bank of America Bank of America
H(a) 1233633997 1233833996 1233136172
H(a) Concord, CA Concord, CA Concord, CA
-------------------------------------------------------
CASH ACTIVITY ANALYSIS (CASH BASIS ONLY)
A. Opening Cash Balance Per Bank 06/12/2001 $ -- $ 873,395 $ --
A.1 Plus Total Receipts per all Prior Interim Statements $ 1,356 $ 7,468 $ --
B. Less Total Disbursements per all Prior Statements $ (667,675) $(20,815,591) $ (11,045)
B.1 Plus/(Minus) Transfer (to)/from interbank account (net)
All prior Statements $ 681,970 $ 20,237,963 $ 15,548
-------------------------------------------------------
C. Beginning Balance per Schedule B.2 $ 15,651 $ 303,235 $ 4,504
(Attach Separate Listing if Necessary)
See Attached Consolidated Statements 1 & 2
D. TOTAL RECEIPTS THIS PERIOD $ -- $ -- $ --
-------------------------------------------------------
E. Balance Available (C.2 plus D) $ 15,651 $ 303,235 $ 4,504
F. Less: Disbursements during Current Period $ (113,202) $ (1,693,395) $ (5,911)
(Attach Separate Listing if Necessary)
-------------------------------------------------------
F.1 Net position (E minus F) $ (97,551) $ (1,390,160) $ (1,407)
F.2 Other Transactions:
Plus/(Minus) Transfer (to)/from interbank account (net) $ 108,485 $ 1,700,000 $ 2,955
-------------------------------------------------------
G. Ending Balance $ 10,934 $ 309,840 $ 1,549
-------------------------------------------------------
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H(a) LockBox LockBox LockBox
H(a) Bank of America LA Bank of America CH Bank of America
H(a) 1233334412 8188312934 3751598703
H(a) Concord, CA Concord, CA Concord, CA
----------------------------------------------------------
CASH ACTIVITY ANALYSIS (CASH BASIS ONLY)
A. Opening Cash Balance Per Bank 06/12/2001 $ 439,649 $ 578,151 $ 406,542
A.1 Plus Total Receipts per all Prior Interim Statements $ 36,476,420 $ 51,867,125 $ 34,382,233
B. Less Total Disbursements per all Prior Statements $ (446,641) $ (596,827) $ (1,722,096)
B.1 Plus/(Minus) Transfer (to)/from interbank account (net)
All prior Statements $(36,286,226) $(51,634,036) $(33,002,450)
----------------------------------------------------------
C. Beginning Balance per Schedule B.2 $ 183,202 $ 214,413 $ 64,230
(Attach Separate Listing if Necessary)
See Attached Consolidated Statements 1 & 2
D. TOTAL RECEIPTS THIS PERIOD $ 4,051,993 $ 6,670,428 $ 4,260,319
----------------------------------------------------------
E. Balance Available (C.2 plus D) $ 4,235,196 $ 6,884,842 $ 4,324,548
F. Less: Disbursements during Current Period
(Attach Separate Listing if Necessary) $ -- $ -- $ (6,990)
----------------------------------------------------------
F.1 Net position (E minus F) $ 4,235,196 $ 6,884,842 $ 4,317,559
F.2 Other Transactions:
Plus/(Minus) Transfer (to)/from interbank account (net) $ (4,058,116) $ (6,601,115) $ (4,205,950)
----------------------------------------------------------
G. Ending Balance $ 177,079 $ 283,727 $ 111,609
----------------------------------------------------------
I. Other monies on hand - $10,000.00 in safe at corporate
office for disaster/hurricane preparedness.
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OFFICE OF THE UNITED STATES TRUSTEE
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IN RE OUTSOURCE INTERNATIONAL, INC DEBTOR IN POSSESSION INTERIM STATEMENT
----------------------------
STATEMENT NO. 7
FROM: 12/31/2001 PAGE 3 OF 6
CHAPTER 11 CASE NO. LA 01-28173-BB TO: 1/27/2002
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H(a) Operating Account Operating Account Accounts Payable
H(a) Citizens Bank Citizens Bank Citizens Bank
H(a) 3303116816 3300167983 3399000024
H(a) Manchester, NH Manchester, NH Manchester, NH
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CASH ACTIVITY ANALYSIS (CASH BASIS ONLY)
A. Opening Cash Balance Per Bank 06/12/2001 $ 100 $ 19,635 $ --
A.1 Plus Total Receipts per all Prior Interim Statements $ 2,966,471 $ -- $ --
B. Less Total Disbursements per all Prior Statements $(11,403,883) $ (3,259) $(1,606)
B.1 Plus/(Minus) Transfer (to)/from interbank account
(net) All prior Statements $ 11,390,990 $(16,376) $ 1,606
---------------------------------------------------------
C. Beginning Balance per Schedule B.2 $ 2,953,678 $ -- $ --
(Attach Separate Listing if Necessary)
See Attached Consolidated Statements 1 & 2
D. TOTAL RECEIPTS THIS PERIOD $ -- $ -- $ --
---------------------------------------------------------
E. Balance Available (C.2 plus D) $ 2,953,678 $ -- $ --
F. Less: Disbursements during Current Period $ (1,603,174) $ -- $ --
(Attach Separate Listing if Necessary)
---------------------------------------------------------
F.1 Net position (E minus F) $ 1,350,504 $ -- $ --
F.2 Other Transactions:
Plus/(Minus) Transfer (to)/from interbank account (net) $ 4,623,076 $ -- $ --
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G. Ending Balance $ 5,973,580 $ -- $ --
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H(a) Accounts Payable Accounts Payable Concentration
H(a) Citizens Bank Citizens Bank First Star Bank
H(a) 3303116832 3399000148 823213004
H(a) Manchester, NH Manchester, NH Cincinnati, OH
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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 $ (629,844) $(10,436,274) $ (10,605)
B.1 Plus/(Minus) Transfer (to)/from interbank account
(net) All prior Statements $ 629,744 $ 10,436,274 $ (465,546)
---------------------------------------------------------
C. Beginning Balance per Schedule B.2 $ -- $ -- $ 494,295
(Attach Separate Listing if Necessary)
See Attached Consolidated Statements 1 & 2
D. TOTAL RECEIPTS THIS PERIOD $ -- $ -- $ --
---------------------------------------------------------
E. Balance Available (C.2 plus D) $ -- $ -- $ 494,295
F. Less: Disbursements during Current Period $ -- $ (1,333,117) $ --
(Attach Separate Listing if Necessary)
---------------------------------------------------------
F.1 Net position (E minus F) $ -- $ (1,333,117) $ 494,295
F.2 Other Transactions:
Plus/(Minus) Transfer (to)/from interbank account (net) $ -- $ 1,333,117 $(483,878)
---------------------------------------------------------
G. Ending Balance $ -- $ -- $ 10,417
---------------------------------------------------------
I. Other monies on hand - $10,000.00 in safe at
corporate office for disaster/hurricane preparedness
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OFFICE OF THE UNITED STATES TRUSTEE
---------------------------------------------------------
- -------------------------------------------------------------
IN RE OUTSOURCE INTERNATIONAL, INC DEBTOR IN POSSESSION INTERIM STATEMENT
----------------------------
STATEMENT NO. 7
FROM: 12/31/2001 PAGE 4 OF 6
CHAPTER 11 CASE NO. LA 01-28173-BB TO: 1/27/2002
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H(a) Payroll Concentration Payroll
H(a) First Star First Tennessee First Tennessee
Bank Bank Bank
H(a) 823213012 100080412 100196519
H(a) Cincinnati, OH Memphis, TN Memphis, TN
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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 $ (32,383,160) $ (7,729) $(3,783,102)
B.1 Plus/(Minus) Transfer (to)/from interbank account
(net) All prior Statements $ 32,383,160 $ (81,625) $ 3,783,102 )
---------------------------------------------------------
C. Beginning Balance per Schedule B.2 $ -- $ 24,346 $ --
(Attach Separate Listing if Necessary)
See Attached Consolidated Statements 1 & 2
D. TOTAL RECEIPTS THIS PERIOD $ -- $ -- $ --
---------------------------------------------------------
E. Balance Available (C.2 plus D) $ -- $ 24,346 $ --
F. Less: Disbursements during Current Period $ (3,266,878) $ (1,831) $ (502,015)
(Attach Separate Listing if Necessary)
---------------------------------------------------------
F.1 Net position (E minus F) $ (3,266,878) $ 22,515 $ (502,015)
F.2 Other Transactions:
Plus/(Minus) Transfer (to)/from interbank account (net) $ 3,266,878 $ (17,515) $ 502,015
---------------------------------------------------------
G. Ending Balance $ -- $ 5,000 $ --
---------------------------------------------------------
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H(a) Payroll ACH Payroll Concentration
H(a) First Tennessee First Tennessee First Union
Bank Bank National Bank
H(a) 100380734 101829397 2080000373357
H(a) Memphis, TN Memphis, TN Deerfield Beach, FL
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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) $ (6,155,333) $ (88,466)
B.1 Plus/(Minus) Transfer (to)/from interbank account
(net) All prior Statements $ (878) $ 6,173,780 $ (102,595)
---------------------------------------------------------
C. Beginning Balance per Schedule B.2 $ -- $ 18,447 $ 220,036
(Attach Separate Listing if Necessary)
See Attached Consolidated Statements 1 & 2
D. TOTAL RECEIPTS THIS PERIOD $ -- $ -- $ --
---------------------------------------------------------
E. Balance Available (C.2 plus D) $ -- $ 18,447 $ 220,036
F. Less: Disbursements during Current Period $ -- $ (1,073,568) $ (7,262)
(Attach Separate Listing if Necessary)
---------------------------------------------------------
F.1 Net position (E minus F) $ -- $ (1,055,121) $ 212,774
F.2 Other Transactions:
Plus/(Minus) Transfer (to)/from interbank account (net) $ -- $ 1,079,350 $ (102,303)
---------------------------------------------------------
G. Ending Balance $ -- $ 24,229 $ 110,471
----------------------------------------------------------
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. 7
FROM: 12/31/2001 PAGE 5 OF 6
CHAPTER 11 CASE NO. LA 01-28173-BB TO: 1/27/2002
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H(a) Payroll Payroll Concentration
H(a) First Union First Union Michigan National
National Bank National Bank Bank
H(a) 2079940007435 207009940011586 5961844940
H(a) Deerfield Beach, FL Deerfield Beach, FL Livonia, MI
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CASH ACTIVITY ANALYSIS (CASH BASIS ONLY)
A. Opening Cash Balance Per Bank 06/12/2001 $ -- $ -- $ 66,832
A.1 Plus Total Receipts per all Prior Interim Statements $ -- $ -- $ 764
B. Less Total Disbursements per all Prior Statements $ (9,316,214) $ (3,604,802) $ (13,778)
B.1 Plus/(Minus) Transfer (to)/from interbank account
(net) All prior Statements $ 9,316,214 $ 3,604,802 $ 10,465
---------------------------------------------------------
C. Beginning Balance per Schedule B.2 $ -- $ -- $ 64,283
(Attach Separate Listing if Necessary)
See Attached Consolidated Statements 1 & 2
D. TOTAL RECEIPTS THIS PERIOD $ -- $ -- $ --
---------------------------------------------------------
E. Balance Available (C.2 plus D) $ -- $ -- $ 64,283
F. Less: Disbursements during Current Period $ (1,005,007) $ (220,296) $ (2,321)
(Attach Separate Listing if Necessary)
---------------------------------------------------------
F.1 Net position (E minus F) $ (1,005,007) $ (220,296) $ 61,962
F.2 Other Transactions:
Plus/(Minus) Transfer (to)/from interbank account (net) $ 1,005,007 $ 220,296 $ (56,794)
---------------------------------------------------------
G. Ending Balance $ -- $ -- $ 5,168
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H(a) Payroll Payroll Payroll Taxes
H(a) Michigan National Michigan National Michigan National
Bank Bank Bank
H(a) 2770710164 2770710420 6856302242
H(a) Livonia, MI Livonia, MI Livonia, MI
---------------------------------------------------------
CASH ACTIVITY ANALYSIS (CASH BASIS ONLY)
A. Opening Cash Balance Per Bank 06/12/2001 $ 1 $ 1 $ 697,525
A.1 Plus Total Receipts per all Prior Interim Statements $ -- $ -- $ --
B. Less Total Disbursements per all Prior Statements $ (2,428,899) $ (2,495) $(16,153,136)
B.1 Plus/(Minus) Transfer (to)/from interbank account
(net) All prior Statements $ 2,428,898 $ 2,494 $ 15,564,769
---------------------------------------------------------
C. Beginning Balance per Schedule B.2 $ -- $ -- $ 109,158
(Attach Separate Listing if Necessary)
See Attached Consolidated Statements 1 & 2
D. TOTAL RECEIPTS THIS PERIOD $ -- $ -- $ --
---------------------------------------------------------
E. Balance Available (C.2 plus D) $ -- $ -- $ 109,158
F. Less: Disbursements during Current Period $ (194,894) $ -- $ (1,342,091)
(Attach Separate Listing if Necessary)
---------------------------------------------------------
F.1 Net position (E minus F) $ (194,894) $ -- $ (1,232,932)
F.2 Other Transactions:
Plus/(Minus) Transfer (to)/from interbank account (net) $ 194,894 $ -- $ 1,325,158
---------------------------------------------------------
G. Ending Balance $ -- $ -- $ 92,226
----------------------------------------------------------
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. 7
FROM: 12/31/2001 PAGE 6 OF 6
CHAPTER 11 CASE NO. LA 01-28173-BB TO: 1/27/2002
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H(a) Concentration Payroll Payroll
H(a) Norwest Bank Norwest Bank Norwest Bank
H(a) 5058061791 8012703781 8012703799
H(a) Colorado Springs, Colorado Springs, Colorado Springs,
CO CO CO
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CASH ACTIVITY ANALYSIS (CASH BASIS ONLY)
A. Opening Cash Balance Per Bank 06/12/2001 $ 154,709 $ -- $ --
A.1 Plus Total Receipts per all Prior Interim Statements $ -- $ -- $ --
B. Less Total Disbursements per all Prior Statements $ (23,752) $ (430,226) $ (2,045,301)
B.1 Plus/(Minus) Transfer (to)/from interbank account
(net) All prior Statements $ (130,957) $ 430,226 $ 2,045,301
---------------------------------------------------------
C. Beginning Balance per Schedule B.2 $ (0) $ -- $ --
(Attach Separate Listing if Necessary)
See Attached Consolidated Statements 1 & 2
D. TOTAL RECEIPTS THIS PERIOD $ -- $ -- $ --
---------------------------------------------------------
E. Balance Available (C.2 plus D) $ (0) $ -- $ --
F. Less: Disbursements during Current Period $ -- $ -- $ --
(Attach Separate Listing if Necessary)
---------------------------------------------------------
F.1 Net position (E minus F) $ (0) $ -- $ --
F.2 Other Transactions:
Plus/(Minus) Transfer (to)/from interbank account (net) $ -- $ -- $ --
---------------------------------------------------------
G. Ending Balance $ (0) $ -- $ --
---------------------------------------------------------
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(NEW) (NEW)
H(a) Totals
H(a) Concentration C/D
H(a) Key Bank Key Bank
H(a) 769081017022 440997600257
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CASH ACTIVITY ANALYSIS (CASH BASIS ONLY)
A. Opening Cash Balance Per Bank 06/12/2001 $ -- $ -- $ 4,740,920
A.1 Plus Total Receipts per all prior Interim Statements $ -- $ -- $ 125,701,838
B. Less Total Disbursements per all Prior Statements $ (520) $ (619,415) $ (124,169,952)
B.1 Plus/(Minus) Transfer (to)/from interbank account
(net) All prior Statements $ 12,420 $ 619,415 $ 107,649
---------------------------------------------------------
C. Beginning Balance per Schedule B.2 $ 11,900 $ -- $ 6,380,455
(Attach Separate Listing if Necessary)
See Attached Consolidated Statements 1 & 2
D. TOTAL RECEIPTS THIS PERIOD $ -- $ -- $ 14,982,740
$ --
---------------------------------------------------------
E. Balance Available (C.2 plus D) $ 11,900 $ -- $ 21,363,196
F. Less: Disbursements during Current Period $ -- $ (215,884) $ (12,656,899)
(Attach Separate Listing if Necessary)
---------------------------------------------------------
F.1 Net position (E minus F) $ 11,900 $ (215,884) $ 8,706,297
F.2 Other Transactions:
Plus/(Minus) Transfer (to)/from interbank account (net) $ (7,384) $ 215,884 $ (1)
---------------------------------------------------------
G. Ending Balance $ 4,516 $ -- $ 8,706,296
----------------------------------------------------------
I. Other monies on hand - $10,000.00 in safe at
corporate office for disaster/hurricane preparedness
====================================================================================================================================
KAREN MARKOWITZ -AC-GL TRUSTEE ALT DOC_0211 Operating Report No Formulas Consol Page 1
====================================================================================================================================
OFFICE OF THE UNITED STATES TRUSTEE
-----------------------------------
- ----------------------------------------------------- ----------------------------------------------------
IN RE: OUTSOURCE INTERNATIONAL, INC. DEBTOR IN POSSESSION OPERATING REPORT
---------------------------- ----------------------------------------------------
Debtor
CONSOLIDATED 7
PAGE 1 OF 3
Chapter 11 Case No: LA 01-28173-BB FOR THE PERIOD FROM: 12/31/2001
--------------
TO: 1/27/2002
- ----------------------------------------------------- ----------------------------------------------------
CONSOLIDATED
1. Profit and Loss Statement (Accrual Basis Only)
A. Related to Business Operations:
Gross Sales $11,388,916
Less: Sales Returns & Discounts (52,507)
-----------
Net Sales $ 11,336,409
Less: Cost of Goods Sold: 9,098,751
------------
Gross Profit $ 2,237,659
Other Operating Revenues --
Less: Operating Expenses --
Officer Compensation 66,864
Salaries and Wages--Other Employees 1,449,643
-----------
Total Salaries and Wages 1,516,507
Employee Benefits and Pensions 107,780
Payroll Taxes 138,569
Real Estate Taxes 6,658
Federal and State Income Taxes --
-----------
Total Taxes 145,227
Rent and Lease Exp. (Real Property and Personal Property) 260,238
Interest Expense (Mortgage, Loan, etc) 165,709
Insurance 36,440
Automobile Expense 62,614
Utilities (Gas, Electric, Water, Telephone, etc.) 138,113
Depreciation and Amortization 435,403
Repairs and Maintenance 15,927
Advertising 10,287
Supplies, Office Expenses, Photocopies, etc. 95,324
Bad Debts (32,321)
MISC OP EXP (T&E,RELO,REP,MEET,RECRUIT,BANK/COLLECT FEES,LIC/TAX) 228,885
-----------
Total Operating Expenses 1,416,621
-----------
Net Gain/Loss from Business Operations (948,477)
B. Not Related to Business Operations:
Income:
Interest Income 9,625
OTHER NON-OPERATING REVENUES (VNDG MACH COMMISS, LAWSUIT ADJ, RESTIT) 1,168
Gross Proceeds on Sale of Assets 6,850
Less: Original Cost of Assets plus Expenses of Sale (23,824)
Net Gain/Loss on Sale of Assets (16,974)
-----------
Total Non-Operating Income (6,180)
ACCOUNTING & AUDITING FEES 60,000
LEGAL FEES 305,351
OTHER PROF./CONSULT FEES 259,776
Other Non-Operating Expenses (Specify) --
-----------
Total Non-Operating Expenses 625,127
------------
NET INCOME/LOSS FOR PERIOD $ (1,579,784)
============
DEBTOR IN POSSESSION OPERATING REPORT NO: 7 Page 2 of 3
2. Aging of Accounts Payable and Accounts Receivable (Exclude
pre-petition accounts payable):
------------------------ ----------------------------
CONSOLIDATED: Accounts Payable Accounts Receivable
- ------------- ------------------------- ----------------------------
Current Under 46 Days 612,670.36 13,096,553.55
------------------------- ----------------------------
Overdue 46 - 60 Days 49,119.53 1,534,332.58
------------------------- ----------------------------
Overdue 61 - 90 Days 31,568.74 453,783.37
------------------------- ----------------------------
Overdue: 91 - 150 Days 81,480.20 337,014.67
------------------------- ----------------------------
Overdue: 151 - 179 Days 10,718.14 124,212.68
------------------------- ----------------------------
Overdue: >=180 Days 255,678.86 397,616.82
------------------------- ----------------------------
TOTAL 1,041,235.83 15,943,513.67
------------------------- ----------------------------
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: See attached Rider 3.
-------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
4. Tax Liability: SEE ATTACHED RIDER 4*
Gross Payroll Expense for Period: $9,308,851.50
Gross Sales for Period Subject to Sales Tax: $118,285.83
------------------------- ------------------------ ------------------------
Post-Petition
Taxes Still
Date Paid Amount Paid* (NOTE 1) Owing
------------------------- ------------------------ ------------------------
Federal Payroll and Withholding Taxes Various $1,678,837.76 $320,868.87 (NOTE 2)
------------------------- ------------------------ ------------------------
State Payroll and Withholding Taxes (NOTE 3) Various $531,162.72 $50,996.48 (NOTE 2)
------------------------- ------------------------ ------------------------
State Sales and Use Taxes 1/17/02 $8,780.63 $5,803.64 (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 December from November + amounts due in December
from December. (NOTE 2) Payment is due in January. (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):
----------------------- ------------------ ------------------- ------------------
REVISED APRIL 1989 OPERATING REPORT UST-4
DEBTOR IN POSSESSION OPERATING REPORT NO: 7 Page 3 of 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 $ 146,043 (estimate)
- -------------------------------------------------------- ---------------------------------- ----------------------------------
Akerman, Senterfitt General Counsel $ 92,572 (estimate)
- -------------------------------------------------------- ---------------------------------- ----------------------------------
DeBellas Investment Advisor $ 9,066 (estimate)
- -------------------------------------------------------- ---------------------------------- ----------------------------------
Bankruptcy Management Corp Bankruptcy Consultant $ 130,407 (estimate)
- -------------------------------------------------------- ---------------------------------- ----------------------------------
8. Narrative Report of Significant Events and Events out of the Ordinary
Course of Business (Attach separate sheet if necessary)
See attached Rider 6 at LA 01-28173BB.
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
- ------------------- --------------------- -------------- -------------- --------------- ------------- -------------------
12/30/01 $0.00 $250.00 1/17/02 $250.00 222196 $0.00
- ------------------- --------------------- -------------- -------------- --------------- ------------- -------------------
- ------------------- --------------------- -------------- -------------- --------------- ------------- -------------------
- ------------------- --------------------- -------------- -------------- --------------- ------------- -------------------
- ------------------- --------------------- -------------- -------------- --------------- ------------- -------------------
- ------------------- --------------------- -------------- -------------- --------------- ------------- -------------------
- ------------------- --------------------- -------------- -------------- --------------- ------------- -------------------
I, Carolyn H. Noonan, the Estate Representative 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: February 20, 2002
/s/ Carolyn H. Noonan
-------------------------------------------
Debtor in Possession or Trustee
REVISED APRIL 1989 OPERATING REPORT UST-4
Rider 3 - Status of Payments to Secured Creditors and Lessors
Outsource International, Inc.
Case No. LA 01-28173BB
Consolidated
FREQUENCY AMOUNT OF NEXT POST-PETITION
CREDITOR/LESSOR OF PAYMENTS EACH PAYMENT PAYMENT DUE PAYMENTS NOT MADE**
- -----------------------------------------------------------------------------------------------------------------------------------
ABELCO DISCOUNT xxx (7,228,652.00) xxx 0 (7,228,652.00)
ABLECO TERM LOAN A quarterly 500,000.00 xxx 0 500,000.00
ABLECO TERM LOAN B balloon 8,549,980.58 08/15/03 0 8,549,980.58
ADVANTA BUSINESS SERVICES CORP monthly 207.76 03/03/02 1 207.76
ADVANTA BUSINESS SERVICES CORP monthly 207.76 03/03/02 1 207.76
ADVANTA BUSINESS SERVICES CORP monthly 207.76 03/03/02 1 207.76
CIT REVOLVER daily 17,496,455.60 Variable Daily 0 17,496,455.60
CITICORP VENDOR FINANCE INC monthly 560.74 03/08/02 1 560.74
CITICORP VENDOR FINANCE INC monthly 308.69 03/08/02 1 308.69
CITICORP VENDOR FINANCE INC monthly 380.04 03/08/02 1 380.04
CITICORP VENDOR FINANCE INC monthly 278.67 03/08/02 1 278.67
CITICORP VENDOR FINANCE INC monthly 560.74 03/08/02 1 560.74
CITICORP VENDOR FINANCE INC monthly 221.00 03/08/02 1 221.00
COMERICA BANK monthly 1,021.66 REJECTED 7 7,151.62
COPYCO INC monthly 461.42 Note 1 1 461.42
COPYCO INC monthly 421.16 Note 1 1 421.16
DE LAGE LANDEN FINANCIAL SERVICES monthly 167.40 03/11/02 1 167.40
DE LAGE LANDEN FINANCIAL SERVICES monthly 197.09 03/11/02 1 197.09
DE LAGE LANDEN FINANCIAL SERVICES monthly 125.28 03/11/02 1 125.28
FIDELITY LEASING INC. aka CITICAPITAL monthly 114.95 REJECTED 1 114.95
FIDELITY LEASING INC. aka CITICAPITAL monthly 229.90 REJECTED 1 229.90
FIDELITY LEASING INC. aka CITICAPITAL monthly 229.90 REJECTED 1 229.90
FLEET LEASING CORPORATION monthly 498.56 03/08/02 1 498.56
FLEET LEASING CORPORATION monthly 446.84 03/08/02 1 446.84
FLEET LEASING CORPORATION monthly 446.84 03/08/02 1 446.84
FLEET LEASING CORPORATION monthly 446.84 03/08/02 1 446.84
FLEET LONG TERM NOTE balloon 5,343,262.23 08/15/04 0 5,343,262.23
GATX CAPITAL (was Sun Financial) monthly 503.05 03/01/02 1 503.05
GATX CAPITAL (was Sun Financial) monthly 1,516.72 03/01/02 1 1,516.72
GATX CAPITAL (was Sun Financial) monthly 1,516.72 03/01/02 1 1,516.72
GATX CAPITAL (was Sun Financial) monthly 3,179.66 03/01/02 1 3,179.66
GATX CAPITAL (was Sun Financial) monthly 136.37 03/01/02 1 136.37
GATX CAPITAL (was Sun Financial) monthly 4,861.75 03/01/02 1 4,861.75
GATX CAPITAL (was Sun Financial) monthly 697.11 03/01/02 1 697.11
GATX CAPITAL (was Sun Financial) monthly 73.64 03/01/02 1 73.64
GATX CAPITAL (was Sun Financial) monthly 81.07 03/01/02 1 81.07
GATX CAPITAL (was Sun Financial) monthly 74.38 03/01/02 1 74.38
GATX CAPITAL (was Sun Financial) monthly 35.27 03/01/02 1 35.27
GATX CAPITAL (was Sun Financial) monthly 85.48 03/01/02 1 85.48
GATX CAPITAL (was Sun Financial) monthly 85.36 03/01/02 1 85.36
GATX CAPITAL (was Sun Financial) monthly 13.75 03/01/02 1 13.75
GATX CAPITAL (was Sun Financial) monthly 9.31 03/01/02 1 9.31
GATX CAPITAL (was Sun Financial) monthly 78.98 03/01/02 1 78.98
GATX CAPITAL (was Sun Financial) monthly 45.39 03/01/02 1 45.39
GATX CAPITAL (was Sun Financial) monthly 85.03 03/01/02 1 85.03
REJECTED,
ACCEPTED,
PROVIDED
CREDITOR/LESSOR COST CENTER ENTITY INVOICE DATE COMMENTS PROPERTY
- -----------------------------------------------------------------------------------------------------------------------------------
ABELCO DISCOUNT 1 xxx xxx xxx n/a
ABLECO TERM LOAN A 1 xxx xxx xxx n/a
ABLECO TERM LOAN B 1 xxx xxx xxx n/a
ADVANTA BUSINESS SERVICES CORP 1202 GEE 6/12/2001 Did not pay due to 60 day stay Prov Prop
ADVANTA BUSINESS SERVICES CORP 1202 GEE 12/15/2002 paid 2/20/02 Prov Prop
ADVANTA BUSINESS SERVICES CORP 1202 GEE 1/15/2002 paid 2/20/02 Prov Prop
CIT REVOLVER 1 xxx xxx xxx n/a
CITICORP VENDOR FINANCE INC 170 OSIA 6/14/2001 Did not pay due to 60 day stay Prov Prop
CITICORP VENDOR FINANCE INC 170 OSIA 7/27 DIP ADJ Did not pay due to 60 day stay Prov Prop
CITICORP VENDOR FINANCE INC 170 OSIA 7/30 DIP ADJ Did not pay due to 60 day stay Prov Prop
CITICORP VENDOR FINANCE INC 170 OSIA 1/3/2002 to pay by next due date Prov Prop
CITICORP VENDOR FINANCE INC 170 OSIA 1/7/2002 to pay by next due date Prov Prop
CITICORP VENDOR FINANCE INC 1253 GEE 1/14/2002 to pay by next due date Prov Prop
COMERICA BANK 1 xxx Jun 01-Jan 02 Rejected Rejected
COPYCO INC 170 OSIA 6/13/2001 Did not pay due to 60 day stay Note 1
COPYCO INC 170 OSIA 6/17/2001 Did not pay due to 60 day stay Note 1
DE LAGE LANDEN FINANCIAL SERVICES 1 xxx 12/7/2001 to pay by next due date Accepted
DE LAGE LANDEN FINANCIAL SERVICES 1009 GEW 7/21/2001 to pay by next due date Accepted
DE LAGE LANDEN FINANCIAL SERVICES 1062 GEW 12/22/2001 to pay by next due date Accepted
FIDELITY LEASING INC. aka CITICAPITAL 1552 OSIA 6/14/2001 Did not pay due to 60 day stay Rejected
FIDELITY LEASING INC. aka CITICAPITAL 1552 OSIA 12/14/2002 Rejected Rejected
FIDELITY LEASING INC. aka CITICAPITAL 1552 OSIA 1/14/2002 Rejected Rejected
FLEET LEASING CORPORATION 1004 GEW 6/12/2001 Did not pay due to 60 day stay Prov Prop
FLEET LEASING CORPORATION 1004 GEW 7/9/2001 Did not pay due to 60 day stay Prov Prop
FLEET LEASING CORPORATION 1004 GEW 12/9/2001 to pay by next due date Prov Prop
FLEET LEASING CORPORATION 1004 GEW 1/9/2001 to pay by next due date Prov Prop
FLEET LONG TERM NOTE 1 xxx xxx xxx n/a
GATX CAPITAL (was Sun Financial) 120 OSIA 1/1/2002 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 120 OSIA 1/1/2002 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 120 OSIA 11/1/2001 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 120 OSIA 1/1/2002 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 170 OSIA 1/1/2002 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 170 OSIA 1/1/2002 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 170 OSIA 1/1/2002 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 1005 GEW 1/1/2002 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 1010 GEW 1/1/2002 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 1036 GEW 1/1/2002 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 1087 GEE 11/6/2001 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 1089 OSIA 1/1/2002 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 1090 OSIA 1/1/2002 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 1101 GEW 11/18/2001 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 1155 SY3 10/15/2001 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 1157 SY3 1/1/2002 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 1201 GEE 1/1/2002 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 1201 GEE 1/1/2002 to pay by next due date Accepted
1
Rider 3 - Status of Payments to Secured Creditors and Lessors
Outsource International, Inc.
Case No. LA 01-28173BB
Consolidated
FREQUENCY AMOUNT OF NEXT POST-PETITION
CREDITOR/LESSOR OF PAYMENTS EACH PAYMENT PAYMENT DUE PAYMENTS NOT MADE**
- -----------------------------------------------------------------------------------------------------------------------------------
GATX CAPITAL (was Sun Financial) monthly 6.88 03/01/02 1 6.88
GATX CAPITAL (was Sun Financial) monthly 85.37 03/01/02 1 85.37
GATX CAPITAL (was Sun Financial) monthly 22.89 03/01/02 1 22.89
GATX CAPITAL (was Sun Financial) monthly 4.06 03/01/02 1 4.06
GATX CAPITAL (was Sun Financial) monthly 4.07 03/01/02 1 4.07
GATX CAPITAL (was Sun Financial) monthly 85.46 03/01/02 1 85.46
GE CAPITAL monthly 421.16 REJECTED 1 421.16
GE CAPITAL monthly 423.09 REJECTED 1 423.09
GE CAPITAL monthly 904.28 REJECTED 1 904.28
GE CAPITAL monthly 364.80 REJECTED 1 364.80
GE CAPITAL monthly 423.09 REJECTED 1 423.09
GE CAPITAL monthly 421.16 REJECTED 1 421.16
GE CAPITAL monthly 925.42 REJECTED 1 925.42
GE CAPITAL monthly 52.36 03/01/02 1 52.36
GE CAPITAL monthly 47.36 03/01/02 1 47.36
GE CAPITAL monthly 44.36 03/01/02 1 44.36
GE CAPITAL monthly 304.25 03/01/02 1 304.25
GE CAPITAL monthly 166.23 03/01/02 1 166.23
GE CAPITAL monthly 124.65 03/01/02 1 124.65
GE CAPITAL monthly 166.58 03/01/02 1 166.58
GE CAPITAL monthly 165.87 03/01/02 1 165.87
GE CAPITAL monthly 214.42 03/01/02 1 214.42
GE CAPITAL monthly 233.82 03/01/02 1 233.82
GE CAPITAL monthly 132.02 03/01/02 1 132.02
GE CAPITAL monthly 116.47 03/01/02 1 116.47
GE CAPITAL monthly 116.47 03/01/02 1 116.47
GE CAPITAL monthly 224.41 03/01/02 1 224.41
GE CAPITAL monthly 214.42 03/01/02 1 214.42
GE CAPITAL monthly 233.82 03/01/02 1 233.82
GE CAPITAL monthly 222.05 03/01/02 1 222.05
GE CAPITAL monthly 243.40 03/01/02 1 243.40
GE CAPITAL monthly 214.43 03/01/02 1 214.43
GE CAPITAL monthly 233.84 03/01/02 1 233.84
GE CAPITAL monthly 116.72 03/01/02 1 116.72
GE CAPITAL monthly 152.36 03/01/02 1 152.36
GE CAPITAL monthly 116.72 03/01/02 1 116.72
GE CAPITAL monthly 206.17 03/01/02 1 206.17
GE CAPITAL monthly 29.13 03/01/02 1 29.13
GE CAPITAL monthly 220.20 03/01/02 1 220.20
GE CAPITAL monthly 220.20 03/01/02 1 220.20
GE CAPITAL monthly 242.20 03/01/02 1 242.20
GE CAPITAL monthly 159.54 03/01/02 1 159.54
GE CAPITAL monthly 159.54 03/01/02 1 159.54
GE CAPITAL monthly 160.02 03/01/02 1 160.02
GE CAPITAL monthly 182.02 03/01/02 1 182.02
REJECTED,
ACCEPTED,
PROVIDED
CREDITOR/LESSOR COST CENTER ENTITY INVOICE DATE COMMENTS PROPERTY
- -----------------------------------------------------------------------------------------------------------------------------------
GATX CAPITAL (was Sun Financial) 1205 GEE 12/1/2001 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 1252 GEE 1/1/2002 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 1253 GEE 11/6/2001 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 1254 GEE 11/6/2001 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 1254 GEE 11/6/2001 to pay by next due date Accepted
GATX CAPITAL (was Sun Financial) 1254 GEE 1/1/2002 to pay by next due date Accepted
GE CAPITAL 170 OSIA 1/20/2002 Rejected Rejected
GE CAPITAL 170 OSIA 1/13/2002 Rejected Rejected
GE CAPITAL 170 OSIA 1/13/2002 Rejected Rejected
GE CAPITAL 170 OSIA 12/17/2001 Rejected Rejected
GE CAPITAL 170 OSIA 7/15/2001 Did not pay due to 60 day stay Rejected
GE CAPITAL 170 OSIA 7/18/2001 Did not pay due to 60 day stay Rejected
GE CAPITAL 170 OSIA 7/8/2001 Did not pay due to 60 day stay Rejected
GE CAPITAL 1001 GEW 1/9/2002 to pay by next due date Pending
GE CAPITAL 1001 GEW 12/9/2001 to pay by next due date Pending
GE CAPITAL 1001 GEW 7/8/2001 Did not pay due to 60 day stay Pending
GE CAPITAL 1006 GEW 12/12/2001 to pay by next due date Pending
GE CAPITAL 1055 GEE 1/20/2002 to pay by next due date Prov Prop
GE CAPITAL 1055 GEE 1/13/2002 to pay by next due date Prov Prop
GE CAPITAL 1055 GEE 12/19/2001 to pay by next due date Prov Prop
GE CAPITAL 1055 GEE 6/20/2001 Did not pay due to 60 day stay Prov Prop
GE CAPITAL 1074 SY3 1/13/2002 to pay by next due date Pending
GE CAPITAL 1074 SY3 7/15/2001 Did not pay due to 60 day stay pending
GE CAPITAL 1101 GEW 7/1/2001 Did not pay due to 60 day stay Prov Prop
GE CAPITAL 1103 GEW 1/13/2002 to pay by next due date Prov Prop
GE CAPITAL 1103 GEW 12/12/2001 to pay by next due date Prov Prop
GE CAPITAL 1152 SY3 7/1/2001 Did not pay due to 60 day stay Prov Prop
GE CAPITAL 1153 SY3 1/13/2002 to pay by next due date Pending
GE CAPITAL 1153 SY3 7/15/2001 Did not pay due to 60 day stay Pending
GE CAPITAL 1154 SY3 12/30/2001 to pay by next due date Prov Prop
GE CAPITAL 1154 SY3 6/24/2001 Did not pay due to 60 day stay Prov Prop
GE CAPITAL 1157 SY3 1/13/2002 to pay by next due date Pending
GE CAPITAL 1157 SY3 7/15/2001 Did not pay due to 60 day stay Pending
GE CAPITAL 1201 GEE 7/1/2001 Did not pay due to 60 day stay Prov Prop
GE CAPITAL 1207 GEE 1/9/2002 to pay by next due date Prov Prop
GE CAPITAL 1207 GEE 12/30/2001 to pay by next due date Prov Prop
GE CAPITAL 1207 GEE 7/8/2001 Did not pay due to 60 day stay Prov Prop
GE CAPITAL 1251 GEE 12/17/2001 to pay by next due date Prov Prop
GE CAPITAL 1252 GEE 1/20/2002 to pay by next due date Prov Prop
GE CAPITAL 1252 GEE 12/23/2001 to pay by next due date Prov Prop
GE CAPITAL 1252 GEE 6/24/2001 Did not pay due to 60 day stay Prov Prop
GE CAPITAL 1281 GEE 12/30/2001 to pay by next due date Prov Prop
GE CAPITAL 1281 GEE 6/27/2001 Did not pay due to 60 day stay Prov Prop
GE CAPITAL 1301 SY3 12/30/2001 to pay by next due date Prov Prop
GE CAPITAL 1301 SY3 7/1/2001 Did not pay due to 60 day stay Prov Prop
2
Rider 3 - Status of Payments to Secured Creditors and Lessors
Outsource International, Inc.
Case No. LA 01-28173BB
Consolidated
FREQUENCY AMOUNT OF NEXT POST-PETITION
CREDITOR/LESSOR OF PAYMENTS EACH PAYMENT PAYMENT DUE PAYMENTS NOT MADE**
- -----------------------------------------------------------------------------------------------------------------------------------
GE CAPITAL monthly 97.00 03/01/02 1 97.00
GE CAPITAL monthly 140.80 03/01/02 1 140.80
GE CAPITAL monthly 131.47 03/01/02 1 131.47
GE CAPITAL monthly 49.99 03/01/02 1 49.99
Hewlett Packard monthly 6,713.19 03/01/02 1 6,713.19
Hewlett Packard monthly 8,487.57 REJECTED 1 8,487.57
Hewlett Packard monthly 6,713.19 03/01/02 1 6,713.19
Hewlett Packard monthly 8,487.57 REJECTED 1 8,487.57
HEWLETT PACKARD monthly 15,200.76 03/01/02 1 15,200.76
HEWLETT PACKARD monthly 29,622.82 03/01/02 1 29,622.82
HEWLETT PACKARD monthly 15,200.76 03/01/02 1.6 9,627.15
HEWLETT PACKARD monthly 29,622.82 03/01/02 1.6 18,761.12
Hewlett Packard monthly 1,840.38 03/01/02 1 1,840.38
Hewlett Packard monthly 3,968.44 03/01/02 1 3,968.44
Hewlett Packard monthly 1,840.38 03/01/02 1 1,840.38
Hewlett Packard monthly 1,840.38 03/01/02 1 1,840.38
Hewlett Packard monthly 1,840.38 03/01/02 1 1,840.38
HEWLETT-PACKARD monthly 3,968.44 03/01/02 1 3,968.44
HEWLETT-PACKARD monthly 3,968.44 03/01/02 1.6 2,513.35
IOS CAPITAL formerly Ikon Capital monthly 170.30 REJECTED 1 170.30
IOS CAPITAL formerly Ikon Capital monthly 211.08 REJECTED 1 211.08
IOS CAPITAL formerly Ikon Capital monthly 175.24 REJECTED 1 175.24
IOS CAPITAL formerly Ikon Capital monthly 211.08 REJECTED 1 211.08
IOS CAPITAL formerly Ikon Capital monthly 175.24 REJECTED 1 175.24
IOS CAPITAL formerly Ikon Capital monthly 211.08 REJECTED 1 211.08
IOS CAPITAL formerly Ikon Capital monthly 175.24 REJECTED 1 175.24
IOS CAPITAL formerly Ikon Capital monthly 211.08 REJECTED 1 211.08
IOS CAPITAL formerly Ikon Capital monthly 175.25 REJECTED 1 175.25
KYOCERA MITA AMERICA INC monthly 233.82 Note 2 1 233.82
KYOCERA MITA AMERICA INC monthly 233.82 Note 2 1 233.82
KYOCERA MITA AMERICA INC monthly 233.84 Note 2 1 233.84
LOOKOUT LEASING CO monthly 105.00 REJECTED 0.6 55.78
LOOKOUT LEASING CO monthly 105.00 REJECTED 1 105.00
MARLIN LEASING CORPORATION monthly 238.50 03/10/02 1 238.50
MARLIN LEASING CORPORATION monthly 187.68 03/10/02 0.3 58.65
MARLIN LEASING CORPORATION monthly 492.17 03/10/02 1 492.17
MONROE BANK monthly 559.91 03/01/02 1 559.91
NTFC CAPITAL CORP monthly 117.16 Note 1 0.1 15.12
OLD KENT BANK a/k/a HELLER FINANCIAL monthly 856.65 02/24/02 1 856.65
PANASONIC COMMUNICATIONS & SYS monthly 102.77 REJECTED 1 102.77
Pitney Bowes mnthly/qtrly 108.04 REJECTED 1 108.04
Pitney Bowes mnthly/qtrly 118.25 REJECTED 1 118.25
REJECTED,
ACCEPTED,
PROVIDED
CREDITOR/LESSOR COST CENTER ENTITY INVOICE DATE COMMENTS PROPERTY
- -----------------------------------------------------------------------------------------------------------------------------------
GE CAPITAL 1308 SY3 1/9/2002 to pay by next due date Prov Prop
GE CAPITAL 1308 SY3 7/8/2001 Did not pay due to 60 day stay Prov Prop
GE CAPITAL ? OSIA 7/27/01 DIP ADJ Did not pay due to 60 day stay Pending
GE CAPITAL ? OSIA 7/30/2001 Did not pay due to 60 day stay Pending
Hewlett Packard 1 xxx 1/2/2002 to pay by next due date Accepted
Hewlett Packard 1 xxx 1/2/2002 Rejected Rejected
Hewlett Packard 1 xxx 12/2/2001 to pay by next due date Accepted
Hewlett Packard 1 xxx 12/2/2001 Rejected Rejected
HEWLETT PACKARD 1 xxx 7/3/2001 Did not pay due to 60 day stay Accepted
HEWLETT PACKARD 1 xxx 7/3/2001 Did not pay due to 60 day stay Accepted
HEWLETT PACKARD 1 xxx 6/3/2001 Did not pay due to 60 day stay Accepted
HEWLETT PACKARD 1 xxx 6/3/2001 Did not pay due to 60 day stay Accepted
Hewlett Packard 127 OSIA 1/11/2002 to pay by next due date Accepted
Hewlett Packard 127 OSIA 1/2/2002 to pay by next due date Accepted
Hewlett Packard 127 OSIA 12/13/2001 to pay by next due date Accepted
Hewlett Packard 127 OSIA 6/13/2001 Did not pay due to 60 day stay Accepted
Hewlett Packard 127 OSIA 7/13/2001 Did not pay due to 60 day stay Accepted
HEWLETT-PACKARD 127 OSIA 7/27/2001 Did not pay due to 60 day stay Accepted
HEWLETT-PACKARD 127 OSIA 7/24/2001 Did not pay due to 60 day stay Accepted
IOS CAPITAL formerly Ikon Capital 1110 GEW 5/30/2001 Rejected Rejected
IOS CAPITAL formerly Ikon Capital 1110 GEW 5/30/2001 Rejected Rejected
IOS CAPITAL formerly Ikon Capital 1110 GEW 12/28/2001 Rejected Rejected
IOS CAPITAL formerly Ikon Capital 1113 GEW 5/30/2001 Rejected Rejected
IOS CAPITAL formerly Ikon Capital 1113 GEW 12/28/2001 Rejected Rejected
IOS CAPITAL formerly Ikon Capital 1114 GEW 5/30/2001 Rejected Rejected
IOS CAPITAL formerly Ikon Capital 1114 GEW 12/28/2001 Rejected Rejected
IOS CAPITAL formerly Ikon Capital 1115 GEW 5/30/2001 Rejected Rejected
IOS CAPITAL formerly Ikon Capital 1115 GEW 12/28/2001 Rejected Rejected
KYOCERA MITA AMERICA INC 1074 SY3 6/13/2001 Did not pay due to 60 day stay Note 2
KYOCERA MITA AMERICA INC 1153 SY3 6/13/2001 Did not pay due to 60 day stay Note 2
KYOCERA MITA AMERICA INC 1157 SY3 6/13/2001 Did not pay due to 60 day stay Note 2
LOOKOUT LEASING CO 1260 GEE 6/28/2001 xxx Rejected
LOOKOUT LEASING CO 1260 GEE 6/28/2001 xxx Rejected
MARLIN LEASING CORPORATION 1201 GEE 1/21/2002 to pay by next due date Prov Prop
MARLIN LEASING CORPORATION 1201 GEE 5/21/2001 Did not pay due to 60 day stay Prov Prop
MARLIN LEASING CORPORATION 1201 GEE 6/20/2001 Did not pay due to 60 day stay Prov Prop
MONROE BANK 1 xxx 1/1/2002 to pay by next due date Accepted
NTFC CAPITAL CORP 1087 GEE 7/30/2001 Did not pay due to 60 day stay Accepted
OLD KENT BANK a/k/a HELLER FINANCIAL 1 xxx 01/24/02 to pay by next due date Accepted
PANASONIC COMMUNICATIONS & SYS 1207 GEE 6/30/2001 Did not pay due to 60 day stay Rejected
Pitney Bowes 1153 SY3 1/3/2002 Rejected Rejected
Pitney Bowes 1156 SY3 1/3/2002 Rejected Rejected
Pitney Bowes 1251 GEE 1/3/2002 xxx Rejected
Pitney Bowes 1260 GEE 6/3/2001 Did not pay due to 60 day stay Rejected
Pitney Bowes 1295 GEE 1/3/2002 xxx Rejected
3
Rider 3 - Status of Payments to Secured Creditors and Lessors
Outsource International, Inc.
Case No. LA 01-28173BB
Consolidated
FREQUENCY AMOUNT OF NEXT POST-PETITION
CREDITOR/LESSOR OF PAYMENTS EACH PAYMENT PAYMENT DUE PAYMENTS NOT MADE**
- -----------------------------------------------------------------------------------------------------------------------------------
Pitney Bowes mnthly/qtrly 30.19 REJECTED 1 30.19
Pitney Bowes mnthly/qtrly 117.45 REJECTED 1 117.45
Pitney Bowes Credit Corp mnthly/qtrly 513.21 03/01/02 1 513.21
Pitney Bowes Credit Corp mnthly/qtrly 901.80 03/01/02 1 901.80
Pitney Bowes Credit Corp mnthly/qtrly 538.95 03/01/02 1 538.95
Pitney Bowes Credit Corp mnthly/qtrly 24.00 REJECTED 1 24.00
Pitney Bowes Credit Corp mnthly/qtrly 487.95 REJECTED 1 487.95
Pitney Bowes Credit Corp mnthly/qtrly 158.40 REJECTED 1 158.40
Pitney Bowes Credit Corp mnthly/qtrly 420.64 REJECTED 1 420.64
Pitney Bowes Credit Corp mnthly/qtrly 181.31 REJECTED 1 181.31
Pitney Bowes Credit Corp mnthly/qtrly 12.00 REJECTED 1 12.00
Pitney Bowes Credit Corp mnthly/qtrly 166.14 REJECTED 1 166.14
Pitney Bowes Credit Corp mnthly/qtrly 12.70 REJECTED 1 12.70
Pitney Bowes Credit Corp mnthly/qtrly 16.87 REJECTED 1 16.87
SAXON BUSINESS SYSTEMS INC monthly 683.54 Note 1 1 683.54
TOSHIBA EASY LEASE monthly 32.90 Note 1 1 32.90
UNITED LEASING ASSOCIATES monthly 155.28 01/01/02 3 368.79
US BANCORP monthly 167.43 02/28/02 1 167.43
US BANCORP monthly 188.97 02/28/02 2 377.94
REJECTED,
ACCEPTED,
PROVIDED
CREDITOR/LESSOR COST CENTER ENTITY INVOICE DATE COMMENTS PROPERTY
- -----------------------------------------------------------------------------------------------------------------------------------
Pitney Bowes 1905 GEE 1/3/2002 Rejected Rejected
Pitney Bowes ? OSIA 7/27/2001 Did not pay due to 60 day stay Rejected
Pitney Bowes Credit Corp 170 OSIA 1/24/2002 to pay by next due date Accepted
Pitney Bowes Credit Corp 170 OSIA 12/24/2001 to pay by next due date Accepted
Pitney Bowes Credit Corp 170 OSIA 12/24/2001 to pay by next due date Accepted
Pitney Bowes Credit Corp 1125 GEW 12/4/2001 Rejected Rejected
Pitney Bowes Credit Corp 1151 SY3 12/14/2001 Rejected Rejected
Pitney Bowes Credit Corp 1152 SY3 1/24/2002 Rejected Rejected
Pitney Bowes Credit Corp 1152 SY3 1/4/2002 Rejected Rejected
Pitney Bowes Credit Corp 1157 SY3 1/14/2002 Rejected Rejected
Pitney Bowes Credit Corp 1157 SY3 12/14/2001 Rejected Rejected
Pitney Bowes Credit Corp 1220 GEE 1/4/2002 xxx Rejected
Pitney Bowes Credit Corp 1303 SY3 12/14/2001 xxx Rejected
Pitney Bowes Credit Corp 1303 SY3 1/4/2002 xxx Rejected
SAXON BUSINESS SYSTEMS INC 170 OSIA 6/12/2001 xxx Note 1
TOSHIBA EASY LEASE 1251 GEE 6/17/2001 Did not pay due to 60 day stay Note 1
UNITED LEASING ASSOCIATES 1028 GEE 6/1, 7/1 Did not pay due to 60 day stay Rejected
US BANCORP 1156 SY3 1/1/2002 to pay by next due date Prov Prop
US BANCORP 1156 SY3 4/28, 6/2 Did not pay due to 60 day stay Prov Prop
** These amounts are also included in the Accounts Payable aging in
question #2. Fractions represent partial months unpaid.
Note 1: Amounts represent June and/or July invoices and not paid due to 60
day automatic stay. No invoices received nor due after June/July.
Note 2: Kyocera and Panasonic are now being serviced through GE Capital.
These are June/July invoices not paid due to 60 day automatic stay.
4
RIDER 4
P/R Tax Department
2002 POST-PETITION TAX REPORTING
PAYROLL TAX LIABILITIES FOR PERIOD 01/01/02 THROUGH 01/31/02
- -----------------------------------------------------------------------------------------------------------------------------------
JAN 2002 FEDERAL JAN 2002 DEC 2001 FEDERAL TOTAL FEDERAL
TAXABLE GROSS TAXES DUE (SEE FEDERAL TAXES TAXES PD IN JAN TAXES PAID IN
PAYROLL ENTITIES PAYROLL EXP NOTE 3.) PD IN JAN 2002 2002 (SEE NOTE 1.) JAN 2002
- -----------------------------------------------------------------------------------------------------------------------------------
Outsource Int'l of America, Inc. 1,973,485.39 408,753.79 (276,771.46) (42,366.96) (319,138.42)
- -----------------------------------------------------------------------------------------------------------------------------------
Synadyne III, Inc. 1,752,853.74 351,508.95 (299,126.91) (151,380.18) (450,507.09)
- -----------------------------------------------------------------------------------------------------------------------------------
Guardian Employer West LLC 3,850,156.87 430,027.71 (338,776.78) (151,265.23) (490,042.01)
- -----------------------------------------------------------------------------------------------------------------------------------
Guardian Employer East LLC 1,732,355.50 342,476.39 (297,222.82) (121,927.42) (419,150.24)
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS -- ALL ENTITIES $ 9,308,851.50 $ 1,532,766.84 $(1,211,897.97) $ (466,939.79) $ (1,678,837.76)
===========================================================================================
- -----------------------------------------------------------------------------------------------------------------------------------
DEC 2001 SWT
JAN 2002 STATE & SUTA PD IN TOTAL STATE
FEDERAL TAXES JAN 2002 STATE TAXES PD IN JAN 2002 (SEE TAXES PD IN JAN
PAYROLL ENTITIES STILL OWED TAXES DUE JAN 2002 NOTE 4.) 2002, INCL. SUTA
- -----------------------------------------------------------------------------------------------------------------------------------
Outsource Int'l of America, Inc. 131,982.33 74.77 0.00 (24,831.56) (24,831.56)
- -----------------------------------------------------------------------------------------------------------------------------------
Synadyne III, Inc. 52,382.04 30,996.21 (25,365.01) (214,347.01) (239,712.02)
- -----------------------------------------------------------------------------------------------------------------------------------
Guardian Employer West LLC 91,250.93 41,941.25 (28,710.54) (111,920.37) (140,630.91)
- -----------------------------------------------------------------------------------------------------------------------------------
Guardian Employer East LLC 45,253.57 27,974.74 (715.51) (103,800.87) (104,516.38)
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS -- ALL ENTITIES $ 320,868.87 $ 100,986.97 $ (54,791.06) $ (454,899.81) $ (509,690.87)
===========================================================================================
- -----------------------------------------------------------------------------------------------------------------------------------
DEC 2001
JAN 2002 LOCAL TAXES
STATE TAXES JAN 2002 LOCAL PD IN JAN TOTAL LOCAL LOCAL
STILL OWED, LOCAL TAXES TAXES PD 2002 (SEE TAXES PD IN TAXES STILL
PAYROLL ENTITIES INCL. SUTA DUE IN JAN 2002 NOTE 2.) JAN 2002 OWED
- -----------------------------------------------------------------------------------------------------------------------------------
Outsource Int'l of America, Inc. 74.77 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
Synadyne III, Inc. 5,631.20 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
Guardian Employer West LLC 13,230.71 573.50 0.00 (4,937.50) (4,937.50) 573.50
- -----------------------------------------------------------------------------------------------------------------------------------
Guardian Employer East LLC 27,259.23 5,168.89 (941.82) (15,592.53) (16,534.35) 4,227.07
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS -- ALL ENTITIES $ 46,195.91 $ 5,742.39 $(941.82) $(20,530.03) $(21,471.85) $ 4,800.57
======================================================================================
NOTE 1. Difference between prior period FWT/FUTA accrual
and what was actually paid:
EAST LLC Prior period FWT/FUTA accrual $ 119,116.88
PLUS FWT underaccrued for DEC 2001 and pd.
upon completion of 4th Qtr 2001 Form 941 2,810.54
Prior period FWT/FUTA paid in JAN 2002 $ 121,927.42
=============
NOTE 2. Difference between prior period local tax still owed and what was
actually paid:
EAST LLC DEC 2001 local taxes still owed 12/31/01 $ 6,082.28
PLUS Quarterly taxes not accrued in error:
Kansas City, MO CIWT (service payroll) 814.91
St. Louis, MO CIWT (service payroll) 4,523.42
St. Louis, MO Emp Exp Tax (service payroll) 2,260.08
Accrual error (added SWT in lieu of local tax) 1,692.55
Underaccrued for Columbus, OH CIWT 248.51
DEC 2001 taxes paid JAN 2002 $ 15,621.75
=============
GUARDIAN GUARDIAN
OUTSOURCE INT'L OF SYNADYNE III, EMPLOYER WEST, EMPLOYER EAST, ALL PAYROLL
PAYROLL TAX SUMMARY: AMERICA, INC. INC. LLC LLC ENTITIES
------------------ -------------- -------------- -------------- --------------
JAN 2002 TAXABLE GROSS PAYROLL EXPENSE $ 1,973,485.39 $1,752,853.74 $3,850,156.87 $1,732,355.50 $ 9,308,851.50
TOTAL DEC 2001 FED, STATE & LOCAL TAXES
PAID IN JAN 2002 (67,198.52) (365,727.19) (268,123.10) (241,320.82) (942,369.63)
TOTAL JAN 2002 FED, STATE & LOCAL
TAXES DUE $ 408,828.56 $ 382,505.16 $ 472,542.46 $ 375,620.02 $ 1,639,496.20
LESS JAN 2002 TAXES PAID IN JAN 2002 (276,771.46) (324,491.92) (367,487.32) (298,880.15) (1,267,630.85)
TOTAL JAN 2002 TAXES STILL OWED
AT END OF PERIOD $ 132,057.10 $ 58,013.24 $ 105,055.14 $ 76,739.87 $ 371,865.35
============= ============= ============= ============= ==============
NOTE 3
DIFFERENCES BETWEEN FWT PMT LOGS AND
BACK-UP REPORTS:
FWT LIABILITY AS PER SERVICE AND CORE
PAYROLL REPORTS $ 401,822.76 $ 351,207.07 $ 429,862.37 $ 340,542.93 $1,523,435.13
PLUS PARTIAL 02/01/02 CORE PAYROLL
ACCRUED TO JAN 2002 6,934.30 392.91 269.88 1,940.46 9,537.55
JAN 2002 SERVICE PAYROLL UNVOIDS
(ADJUST FOLLOWING PERIOD) (3.27) (91.03) (104.54) (7.00) (205.84)
JAN 2002 FWT LIABILITY AS PER FWT PMT $ 408,753.79 $ 351,508.95 $ 430,027.71 $ 342,476.39 $1,532,766.84
============= ============= ============= ============= =============
NOTE 4
DIFFERENCES BETWEEN PRIOR PERIOD SWT & SUTA
ACCRUALS AND WHAT WAS ACTUALLY PAID: $ 24,831.56 $ 215,591.09 $ 114,080.67 $ 98,373.38 $ 452,876.70
DEC 2001 SWT UNDERACCRUED IN ERROR
(SERVICE PAYROLL) -- 281.90 5,541.10 5,823.00
DEC 2001 SWT UNPAID (SERVICE PAYROLL) -- -- (10.49) (0.80) (11.29)
NOV 2001 SEMI-WEEKLY SWT ACCRUED AND
PAID DEC 2001 (AZ & CO) -- -- 198.26 -- 198.26
YEAR ENDING 12/31/01 SWT RECONCILIATION
AMOUNTS -- (1,244.08) (2,629.97) (112.81) (3,986.86)
TOTAL PRIOR PERIOD SWT/SUTA PAID $ 24,831.56 $ 214,347.01 $ 111,920.37 $ 103,800.87 $ 454,899.81
============= ============= ============= ============= =============
Rider 5
OUTSOURCE INTERNATIONAL INC
CONSOLIDATED
INSURANCE SCHEDULE OF COVERAGE
AS OF 1/27/02
- -----------------------------------------------------------------------------------------------------------------------------------
LIMITS/
COVERAGE DEDUCTIBLES TERM
- -----------------------------------------------------------------------------------------------------------------------------------
WORKERS' COMPENSATION Statutory 1/1/02-1/1/03
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 1/1/02-1/1/03
(WC, GL, AL)
- -----------------------------------------------------------------------------------------------------------------------------------
ERRORS & OMISSIONS 01/01/01 - 01/01/02
Each Accident 1,000,000 paid $3,474 to extend
Aggregate Limit 2,000,000 to 1/31/02
Deductible 50,000
- -----------------------------------------------------------------------------------------------------------------------------------
GENERAL LIABILITY 1/1/02-1/1/03
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 1/1/02-1/1/03
Bodily Injury & Property Damage 1,000,000
Uninsured/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 1/1/02-1/1/03
Deductible-Collision 1,000
Deductible-Other Than Collision 1,000
- -----------------------------------------------------------------------------------------------------------------------------------
UMBRELLA LIABILITY 1/1/02-1/1/03
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
Each Insured Event 5,000,000 paid $9,003.15 to
Total Aggregate Policy Paid Limit 10,000,000 extend to 1/15/02
Deductible 50,000
- -----------------------------------------------------------------------------------------------------------------------------------
EMPLOYMENT PRACTICES LIABILITY-TAIL COVERAGE Extended Reporting Period
Each Insured Event 5,000,000 4/8/00-4/8/03
Total Aggregate Policy Paid Limit 10,000,000
- -----------------------------------------------------------------------------------------------------------------------------------
FIDUCIARY LIABILITY 5,000,000 01/01/01 - 01/01/02
Endorsements: paid $656 to extend
Fl Amendatory Cancellation - Non Renewal to 1/31/02
Multiemployer Extension (Syn Sav & Inv)
Amend Discovery Clause to bilateral election
Amend notification requirement
run-off Endorsement for Synadyne
Deductible 10,000
- -----------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
PREMIUM
COVERAGE COMPANY PAID TO
- ---------------------------------------------------------------------------------------------------------------------------
WORKERS' COMPENSATION Zurich 1/31/2002
EMPLOYERS LIABILITY
Each Accident
Disease - Each Employee
Disease - Policy Limit
Deductible
- ---------------------------------------------------------------------------------------------------------------------------
DEDUCTIBLE PROTECTION POLICY Zurich 1/31/2002
(WC, GL, AL)
- ---------------------------------------------------------------------------------------------------------------------------
ERRORS & OMISSIONS National Union Fire Ins 1/31/2002
Each Accident
Aggregate Limit
Deductible
- ---------------------------------------------------------------------------------------------------------------------------
GENERAL LIABILITY Zurich 1/31/2002
Policy Aggregate
Location Aggregate
Products/Completed Ops.
Each Occurrence
Personal & Advertising Injury
Fire Damage - Any One Fire
Medical - Any One Person
Employee Benefits (Claims Made)
Employee Benefits (Aggregate)
Retroactive Date (1/01/99)
Deductible
- ---------------------------------------------------------------------------------------------------------------------------
AUTO LIABILITY Zurich 1/31/2002
Bodily Injury & Property Damage
Uninsured/Underinsured
Personal Injury Protection
Medical Payments - each person
Hired & Non-Owned Auto
Deductible
- ---------------------------------------------------------------------------------------------------------------------------
AUTO PHYSICAL DAMAGE Zurich 1/31/2002
Deductible-Collision
Deductible-Other Than Collision
- ---------------------------------------------------------------------------------------------------------------------------
UMBRELLA LIABILITY National Union Fire Ins Co of Pittsburgh, PA 1/31/2002
Each Occurrence
General Aggregate
Products/Completed Ops.
Deductible
- ---------------------------------------------------------------------------------------------------------------------------
EMPLOYMENT PRACTICES LIABILITY Lexington Ins 1/15/2002
Each Insured Event
Total Aggregate Policy Paid Limit
Deductible
- ---------------------------------------------------------------------------------------------------------------------------
EMPLOYMENT PRACTICES LIABILITY-TAIL COVERAGE Lexington Ins 4/8/2003
Each Insured Event
Total Aggregate Policy Paid Limit
- ---------------------------------------------------------------------------------------------------------------------------
FIDUCIARY LIABILITY National Union Fire Ins Co of Pittsburgh, PA 1/31/2002
Endorsements:
Fl Amendatory Cancellation - Non Renewal
Multiemployer Extension (Syn Sav & Inv)
end Discovery Clause to bilateral election
Amend notification requirement
run-off Endorsement for Synadyne
Deductible
- ---------------------------------------------------------------------------------------------------------------------------
1
- -----------------------------------------------------------------------------------------------------------------------------------
LIMITS/
COVERAGE DEDUCTIBLES TERM
- -----------------------------------------------------------------------------------------------------------------------------------
FIDUCIARY LIABILITY-TAIL COVERAGE 5,000,000 Extended Reporting Period
Basic Form with following 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
- -----------------------------------------------------------------------------------------------------------------------------------
COMMERCIAL PROPERTY Per Schedule on File with carrier 7/1/01-7/1/2002
- -----------------------------------------------------------------------------------------------------------------------------------
DIFFERENCE IN CONDITIONS 5,000,000 LOSS LIMIT 10/18/01 - 10/18/02
- -----------------------------------------------------------------------------------------------------------------------------------
CRIME-FIDELITY 7/29/99-7/29/02
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
- -----------------------------------------------------------------------------------------------------------------------------------
RECTORS & OFFICERS 20,000,000 10/23/01-10/23/02
Deductible-SEC & Y2K 150,000
Deductible-All Other 75,000
- -----------------------------------------------------------------------------------------------------------------------------------
LIQUOR LIABILITY PER EACH EVENT 1,000,000 1/1/02-1/1/03
aggregate 2,000,000
- -----------------------------------------------------------------------------------------------------------------------------------
BASIC LIFE AND AD&D Life: 2 x annual salary max $500k w/out 8/1/01-4/1/02
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
monthly until age 65 or disabled
- -----------------------------------------------------------------------------------------------------------------------------------
BUSINESS TRAVEL ACCIDENT INSURANCE Directors, Officers, Managers 3 x annual 8/1/01-4/1/03
earnings max $1 m; all else 1 x annual
earnings max $150k.
- -----------------------------------------------------------------------------------------------------------------------------------
CIGNA EMPLOYEE MEDICAL COVERAGE (SELF INSURED) $75,000 per person stop loss 8/1/01-4/1/02
- -----------------------------------------------------------------------------------------------------------------------------------
CIGNA DENTAL INSURANCE (SELF INSURED) $1,500 per person stop loss 8/1/01-4/1/02
- -----------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
PREMIUM
COVERAGE COMPANY PAID TO
- ---------------------------------------------------------------------------------------------------------------------------
FIDUCIARY LIABILITY-TAIL COVERAGE National Union Fire Ins Co of Pittsburgh, PA 4/8/2006
Basic Form with following Endorsements:
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
- -----------------------------------------------------------------------------------------------------------------------------------
COMMERCIAL PROPERTY The St. Paul 7/1/2002
- ----------------------------------------------------------------------------------------------------------------------------
DIFFERENCE IN CONDITIONS Essex 10/18/02 (paid
on 11/1/01)
- ----------------------------------------------------------------------------------------------------------------------------
CRIME-FIDELITY National Union Fire Ins. Co. 7/29/2002
Insured's Fidelity Coverage
Client's Fidelity Coverage
Computer Fraud
Loss Inside premises/Loss Outside premises
Counterfeit Currency/Depositors Forgery
Deductible Per Occurrence
Aggregate Deductible
- ----------------------------------------------------------------------------------------------------------------------------
DIRECTORS & OFFICERS National Union Fire Ins. Co. 1/31/2002
Deductible-SEC & Y2K
Deductible-All Other
- ----------------------------------------------------------------------------------------------------------------------------
LIQUOR LIABILITY PER EACH EVENT Zurich 1/31/2002
aggregate
- ----------------------------------------------------------------------------------------------------------------------------
BASIC LIFE AND AD&D UNUM Life Ins Co 1/31/2002
- ----------------------------------------------------------------------------------------------------------------------------
LONG TERM DISABILITY UNUM Life Ins Co 1/31/2002
- ----------------------------------------------------------------------------------------------------------------------------
BUSINESS TRAVEL ACCIDENT INSURANCE UNUM Life Ins Co 4/1/2003
- ----------------------------------------------------------------------------------------------------------------------------
CIGNA EMPLOYEE MEDICAL COVERAGE (SELF INSURED) Cigna 1/31/2002
- ----------------------------------------------------------------------------------------------------------------------------
CIGNA DENTAL INSURANCE (SELF INSURED) Cigna 1/31/2002
- ----------------------------------------------------------------------------------------------------------------------------
2
RIDER 6 - SIGNIFICANT EVENTS
CONSOLIDATED
OUTSOURCE INTERNATIONAL, INC.
CASE NO. LA 01-28173BB
During the January 2002 reporting period, the following significant events took
place:
- - On 1/8/02, the Bankruptcy Court issued a Sale Order approving the sale
of substantially all of the assets of the Company pursuant to an Asset
Purchase Agreement dated 12/18/01 between the Company and Cerberus
Outsource SPV LLC. A copy of the agreement was filed as Exhibit 2.1 to
the Company's Form 8-K filed with the SEC on 12/27/01. On 1/31/02, the
Company completed the sale with an effective date of 1/28/02, 12:01
a.m. The new business will continue to be operated under the Tandem (R)
trade name. The new business will be called Tandem Staffing Solutions,
Inc.
- - A motion was filed on 12/27/01 to revise the schedule of contracts and
leases to be assumed, assigned and sold, including amounts to be cured
thereunder, pursuant to debtor's motion to sell substantially all of
their assets. The hearing was held 1/8/02.
- - The General Liability, Umbrella, Auto, Workers Comp, and Liquor
Liability insurance policy was renewed with a new policy period
1/1/02-12/31/02. The EPL policy was extended to 1/15/02. Fiduciary and
E&O (errors and omissions) policies were extended to 1/31/02 (also
reported on the December Significant Events narrative).
- - 13 employees were terminated on 1/4/02 as part of a reduction in force
in order to reduce costs (also reported on the December Significant
Events narrative).