IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS
For the Month Ending: July 31, 2002
BEGINNING BALANCE IN ALL ACCOUNTS $22,282,828.25
RECEIPTS:
1. Receipts from Operations
2. Other Receipts $ 33,840.29
Other receipts (Received on behalf of Affiliates) $ 556,019.73
--------------
TOTAL RECEIPTS $ 589,860.02
DISBURSEMENTS
3. Net Payroll
a. Officers $ 56,096.62
b. Others $ 62,088.07
4. Taxes
a. Federal Income Taxes $ 32,329.60
b. FICA Withholdings $ 5,264.58
c. Employee's withholdings $ --
d. Employer's FICA $ 5,264.56
e. Federal Unemployment Taxes $ --
f. State Income Tax $ 7,621.40
g. State Employee withholdings $ 155.59
h. All other state taxes $ --
5. Necessary Expenses
a. Rent or mortgage payment(s) $ 10,938.00
b. Utilities $ 10,387.43
c. Insurance $ 99,401.71
d. Merchandise bought for manufacture or sell $ --
e. Other necessary expenses
Professional and Bankruptcy Court Related Fees and Expenses $ 860,051.38
Employee Expenses $ 23,891.90
Office Supplies & Expenses $ 2,241.25
Other $ 13,931.23
--------------
TOTAL DISBURSEMENTS $ 1,189,663.32
Add: Disbursements made on behalf of Parent or Affiliates $ 51,873.13
--------------
ADJUSTED TOTAL DISBURSEMENTS $ 1,241,536.45
--------------
NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $ (651,676.43)
NET INTERCOMPANY SWEEPS/TRANSFERS - World Access Telecom Group $ --
NET INTERCOMPANY SWEEPS/TRANSFERS - Facilicom International, L.L.C $ --
NET INTERCOMPANY SWEEPS/TRANSFERS - WA Telecom Products Co., Inc. $ --
NET INTERCOMPANY SWEEPS/TRANSFERS - WorldXchange $ --
--------------
NET INTERCOMPANY SWEEPS/TRANSFERS - CURRENT PERIOD $ --
--------------
ENDING BALANCE IN Bank of America - Master 03751046297 $ 483,214.04
ENDING BALANCE IN Bank of America - Disbursement 03299976144 $ 244,134.16
ENDING BALANCE IN Bank of America - Payroll 03299944407 $ (768.80)
ENDING BALANCE IN Bank of America - Payroll Taxes 03751301149 $ 23,114.53
ENDING BALANCE IN Bank of America - Money Market 851018 $14,381,165.80
ENDING BALANCE IN Deustch Bank - S/T Investment 206-19648 $ 5,161,956.14
ENDING BALANCE IN Bank of America - Restricted Cash $ 1,333,333.95
ENDING BALANCE IN Wells Fargo - Restricted Cash 699-3295970 $ 12.00
ENDING BALANCE IN Chase Manhattan Bank - FISC 719-1-362214 $ 4,990.00
--------------
ENDING BALANCE IN ALL ACCOUNTS $21,631,151.82
==============
OPERATING REPORT Page 1
IN THE UNITED STATES COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
RECEIPTS LISTING
For the Month Ending: July 31, 2002
Bank: Bank of America
Location: Dallas, TX
Account Name: Master Account
Account Number: 03751046297
DATE RECEIVED DESCRIPTION AMOUNT
------------- ----------- -----------
07/01/02 Verso Technologies, Inc. 500,000.00
07/18/02 Gerald Ricks $ 5,000.00
07/18/02 Gloria Mejorade $ 223.07
07/18/02 Linda Jacobsen $ 493.84
07/25/02 Verso Technologies, Inc. $ 51,019.73
-----------
Total WAXS Receipts $556,736.64
===========
Less: Receipts made to or on behalf of Affiliates.
WA Telecom Products Co., Inc.
07/01/02 Verso Technologies, Inc. 500,000.00
07/18/02 Gerald Ricks $ 5,000.00
07/25/02 Verso Technologies, Inc. $ 51,019.73
-----------
Total Affiliate Receipts $556,019.73
-----------
Total WAXS Receipts $ 716.91
===========
OPERATING REPORT Page 2
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
RECEIPTS LISTING
For the Month Ending: July 31, 2002
Bank: Wells Fargo
Location: Minneapolis, MN
Account Name: Restricted Cash
Account Number: 699-3295970
DATE RECEIVED DESCRIPTION AMOUNT
- ------------- ----------- ------
Interest Received $ --
------
Total WAXS Receipts $ --
======
* No Interest Earned This Period
OPERATING REPORT Page 3
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
RECEIPTS LISTING
For the Month Ending: July 31, 2002
Bank: Bank of America (Nations Funds)
Location: Charlotte, NC
Account Name: Money Market
Account Number: 851018
DATE RECEIVED DESCRIPTION AMOUNT
- ------------- ----------- ----------
07/01/02 Interest Received - Strat Cash Fund $26,385.97
----------
Total WAXS Receipts $26,385.97
==========
OPERATING REPORT Page 4
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
RECEIPTS LISTING
For the Month Ending: July 31, 2002
Bank: Deutsche Bank Alex. Brown
Location: Baltimore, MD
Account Name: Investment Account
Account Number: 206-19648
DATE RECEIVED DESCRIPTION AMOUNT
- ------------- ----------- ----------
07/23/02 Interest Received $6,737.41
---------
Total WAXS Receipts $6,737.41
=========
OPERATING REPORT Page 5
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
DISBURSEMENT LISTING
For the Month Ending: July 31, 2002
Bank: Bank of America
Location: Dallas, TX
Account Name: Master Account
Account Number: 03751046297
DATE DISBURSED DESCRIPTION AMOUNT
- -------------- ----------- ------
07/03/02 Bank Fee $30.00
------
Total WAXS Disbursements $30.00
======
OPERATING REPORT Page 6
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
DISBURSEMENT LISTING
For the Month Ending: July 31, 2002
Bank: Bank of America
Location: Dallas, TX
Account Name: Corporate Disbursement
Account Number: 03299976144
DATE CHECK
DISBURSED NUMBER DESCRIPTION AMOUNT
- --------- ------ ----------- -------------
07/03/02 35841 Henry Lyon $ 5,247.87
07/03/02 35842 Metlife $ 3,093.72
07/03/02 35843 United Healthcare $ 11,462.27
07/03/02 35844 North Atlanta Realty Acquisition $ 29,137.76
07/03/02 35845 Lanier Parking Systems $ 715.00
07/03/02 35846 BellSouth $ 2,236.74
07/03/02 35847 Nextel Communications $ 589.06
07/03/02 35848 Global Legal Copy, LLC $ 2,348.76
07/03/02 35849 Copytec, Inc. $ 744.69
07/03/02 35850 Kirkland & Ellis $ 585.00
07/03/02 35851 Legalink Chicago $ 1,307.40
07/03/02 35852 Esquire Deposition Service $ 513.31
07/03/02 35853 Kamran Saeed $ 450.00
07/03/02 35854 Federal Express $ 282.51
07/03/02 35855 Apollo Consulting $ 2,000.00
07/03/02 35856 Mark Gergel $ 2,780.45
07/03/02 35857 Michael Mies $ 7,438.12
07/03/02 35858 Bowne of Atlanta $ 279.00
07/03/02 35859 Cadwalader, Wickersham & Taft $ 158,465.17
07/03/02 35860 Debra Dawn $ 1,539.61
07/03/02 35861 MDC-Mark II $ 10,938.00
07/12/02 35862 CNA Insurance $ 17,052.00
07/12/02 35863 Federal Express $ 77.62
07/12/02 35864 H. Peter Gant $ 2,377.56
07/12/02 35865 J. Smith Lanier Insurance Co. $ 67,500.00
07/12/02 35866 Judco Management, Inc $ 8,625.00
07/12/02 35867 Kirkland & Ellis $ 3,271.53
07/12/02 35868 MCI Worldcom $ 3,261.19
07/12/02 35869 MCI Worldcom $ 77.45
07/12/02 35870 PriceWaterhouseCoopers LLP $ 37,587.74
07/12/02 35871 Kamran Saeed $ 450.00
07/12/02 35872 Carl Sonne $ 209.80
07/12/02 35873 State Compensation Insurance Fund $ 293.72
07/12/02 35874 Pacific Bell $ 492.37
07/12/02 35875 San Diego Gas & Electric $ 367.27
07/15/02 35876 Mark Warner $ 5,000.00
07/19/02 35877 Apto Solutions $ 5,621.14
07/19/02 35878 BellSouth $ 460.75
OPERATING REPORT Page 7 Page 1 of 3
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
DISBURSEMENT LISTING
For the Month Ending: July 31, 2002
Bank: Bank of America
Location: Dallas, TX
Account Name: Corporate Disbursement
Account Number: 03299976144
DATE CHECK
DISBURSED NUMBER DESCRIPTION AMOUNT
- --------- ------ ----------- -------------
07/19/02 35879 Copytec, Inc. $ 2,690.30
07/19/02 35880 Ernst & Young LLP $ 63,631.69
07/19/02 35881 Federal Express $ 445.83
07/19/02 35882 H. Peter Gant $ 88.80
07/19/02 35883 Global Legal Copy, LLC $ 21,287.31
07/19/02 35884 Ikon Office Solutions $ 6,906.52
07/19/02 35885 Jenner & Block $ 95,631.73
07/19/02 35887 Katten Muchin Zavis Roseman $ 279,948.46
07/19/02 35888 Henry Lyon $ 4,209.69
07/19/02 35889 MCI Worldcom $ 77.54
07/19/02 35890 Merrill Communications $ 7,214.80
07/19/02 35891 Poorman-Douglas Corp. $ 3,713.11
07/19/02 35892 Reed Smith $ 1,081.47
07/19/02 35893 Kamran Saeed $ 450.00
07/19/02 35894 Winstead Sechrest & Minick, P.C. $ 13,283.55
07/19/02 35895 Sean Moore $ 775.00
07/19/02 35896 Pacific Bell $ 120.63
07/26/02 35906 Vanguard Archives $ 653.48
07/26/02 35907 American Express Tax & Business Svcs $ 77,946.92
07/26/02 35908 Ascom Hasler Leasing $ 173.34
07/26/02 35909 BellSouth $ 2,194.06
07/26/02 35910 Cornerstone Research $ 80,032.93
07/26/02 35911 Federal Express $ 394.63
07/26/02 35912 MCI Worldcom $ 510.37
07/26/02 35913 Philpot Relocation Svcs $ 3,450.91
07/26/02 35914 Pitney Bowes Management Svcs $ 6,373.96
07/26/02 35915 Prism Innovative $ 3,147.44
07/26/02 35916 Kamran Saeed $ 450.00
07/26/02 35917 Velocity Express $ 6.66
07/26/02 35918 Verizon Select Services $ 178.75
-------------
Total $1,071,949.46
***NOTE - CK# 35897 - 35905 VOIDED***
Less: Disbursements made to or on behalf of Parent or Affiliates.
WA Telecom Products Co., Inc.
07/03/02 35844 North Atlanta Realty Acquisition $ 29,137.76
OPERATING REPORT Page 7 Page 2 of 3
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
DISBURSEMENT LISTING
For the Month Ending: July 31, 2002
Bank: Bank of America
Location: Dallas, TX
Account Name: Corporate Disbursement
Account Number: 03299976144
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT
- -------------- ------------ ----------- ------
07/26/02 35908 Ascom Hasler Leasing $ 173.34
Facilicom
07/12/02 35866 Judco Management, Inc $ 8,625.00
World Access Telecommunication Group, Inc.
07/19/02 35894 Winstead Sechrest & Minick, P.C. $ 13,283.55
07/26/02 35906 Vanguard Archives $ 653.48
------------
Total Affiliate Payments $ 51,873.13
------------
Total WAXS Disbursements $1,020,076.33
=============
OPERATING REPORT Page 7 Page 3 of 3
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
DISBURSEMENT LISTING
For the Month Ending: July 31, 2002
Bank: Bank of America
Location: Dallas, TX
Account Name: Payroll Account
Account Number: 03299944407
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT
- -------------- ------------ ----------- -----------
07/03/02 Multiple Payroll Checks $ 40,216.94
07/16/02 Multiple Payroll Checks $ 37,258.10
07/30/02 Multiple Payroll Checks $ 40,709.65
-----------
Total WAXS Disbursements $118,184.69
===========
OPERATING REPORT Page 8
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
DISBURSEMENT LISTING
For the Month Ending: July 31, 2002
Bank: Bank of America
Location: Dallas, TX
Account Name: Payroll Account
Account Number: 0751301149
DATE DISBURSED DESCRIPTION AMOUNT
- -------------- ----------- ----------
07/03/02 ADP - Payroll Tax Withholdings $17,275.83
07/16/02 ADP - Payroll Tax Withholdings $15,597.40
07/26/02 ADP - Payroll Processing Fees $ 726.57
07/30/02 ADP - Payroll Tax Withholdings $17,762.50
----------
Total WAXS Disbursements $51,362.30
==========
OPERATING REPORT Page 9
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
DISBURSEMENTS LISTING
For the Month Ending: July 31, 2002
Bank: Wells Fargo
Location: Minneapolis, MN
Account Name: Restricted Cash
Account Number: 699-3295970
DATE RECEIVED DESCRIPTION AMOUNT
- ------------- ----------- ------
07/31/02 Bank Fee $10.00
------
Total WAXS Disbursements $10.00
======
OPERATING REPORT Page 10
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
For the Month Ending: July 31, 2002
STATEMENT OF INVENTORY
Beginning Inventory $ --
Add: purchases $ --
Less: goods sold $ --
-----------
Ending inventory $ --
===========
PAYROLL INFORMATION STATEMENT
Gross payroll for this period $168,820.42
Payroll taxes due but unpaid $ --
STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS
DATE REGULAR AMOUNT OF NUMBER OF AMOUNT OF
NAME OF CREDITOR/LESSOR PAYMENT IS DUE REGULAR PAYMENT PAYMENTS DELINQUENT PAYMENTS DELINQUENT
- ----------------------- -------------- ---------------- -------------------- -------------------
Xerox Corporation Monthly $1,247.84 10 $12,478.40
OPERATING REPORT Page 11
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
For the Month Ending: July 31, 2002
STATEMENT OF AGED RECEIVABLES
ACCOUNTS RECEIVABLE
3RD PARTY INTERCOMPANY TOTAL
------------- -------------- --------------
Beginning of month balance $ -- $12,715,893.77 $12,715,893.77
Add: sales on account $ -- $ -- $ --
expenses paid for affiliate $ -- $ 51,873.13 $ 51,873.13
cash advanced to affiliate $ -- $ -- $ --
Less: collections $ -- $ -- $ --
------------- -------------- --------------
End of month balance $ -- $12,767,766.90 $12,767,766.90
============= ============== ==============
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total
- --------- ---------- ---------- ------------ ------------------
$ -- $ -- $ -- $ -- $ --
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)
3RD PARTY INTERCOMPANY TOTAL
-------------- -------------- --------------
Beginning of month balance $ 4,256,084.64 $18,203,291.20 $22,459,375.84
Add: sales on account $ 1,539,951.70 $ -- $ 1,539,951.70
Cash received on behalf of Affiliate $ -- $ 556,019.73 $ 556,019.73
Cash received from Affiliate $ -- $ -- $ --
Less: payments $(1,189,663.32) $ -- $(1,189,663.32)
-------------- -------------- --------------
End of month balance $ 4,606,373.02 $18,759,310.93 $23,365,683.95
============== ============== ==============
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total
- ------------- ------------ ------------ ------------- ------------------
$1,250,997.52 $866,430.64 $404,600.31 $2,084,344.55 $4,606,373.02
OPERATING REPORT Page 12
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
For the Month Ending: July 31, 2002
TAX QUESTIONNAIRE
Debtors in possession and trustees are required to pay all taxes
incurred after the filing of their Chapter 11 petition on an as due basis.
Please indicate whether the following post petition taxes or withholdings have
been paid currently.
1. Federal income taxes Yes [X] No [ ]
2. FICA withholdings Yes [X] No [ ]
3. Employee's withholdings Yes [X] No [ ]
4. Employer's FICA Yes [X] No [ ]
5. Federal unemployment taxes Yes [X] No [ ]
6. State income tax Yes [X] No [ ]
7. State employee withholdings Yes [X] No [ ]
8. All other state taxes See Note Below
If any of the above have not been paid, state below the tax not paid, the
amounts past due and the date of the last payment.
Note to Item 8:
The Debtor may have personal property subject to tax in various jurisdictions
throughout the United States. No expense has been accrued or paid for any such
potential post-petition claims.
OPERATING REPORT Page 13
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
DECLARATION UNDER PENALTY OF PERJURY
I, Henry C. Lyon, acting as the duly authorized agent for the Debtor in
Possession declare under penalty of perjury under the laws of the United States
that I have read and I certify that the figures, statements, disbursement
itemizations, and account balances as listed in this Monthly Report of the
Debtor are true and correct as of the date of this report to the best of my
knowledge, information and belief.
/s/ HENRY C. LYON
-------------------------------------------
For the Debtor In Possession
Henry C. Lyon
Designated Officer
OPERATING REPORT Page 14
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS
For the Month Ending: August 31, 2002
BEGINNING BALANCE IN ALL ACCOUNTS $21,631,151.82
RECEIPTS:
1. Receipts from Operations
2. Other Receipts $ 2,263,704.29
Other receipts (Received on behalf of Affiliates) $ 5,993.32
--------------
TOTAL RECEIPTS $ 2,269,697.61
DISBURSEMENTS
3. Net Payroll
a. Officers $ 50,222.25
b. Others $ 67,270.38
4. Taxes
a. Federal Income Taxes $ 38,731.58
b. FICA Withholdings $ 5,613.62
c. Employee's withholdings $ 153.94
d. Employer's FICA $ 5,613.62
e. Federal Unemployment Taxes $ --
f. State Income Tax $ 8,902.07
g. State Employee withholdings $ 41.20
h. All other state taxes $ --
5. Necessary Expenses
a. Rent or mortgage payment(s) $ --
b. Utilities $ 14,995.51
c. Insurance $ 17,299.30
d. Merchandise bought for manufacture or sell $ --
e. Other necessary expenses
Professional and Bankruptcy Court Related Fees and Expenses $ 1,648,736.86
Employee Expenses $ 14,842.21
Office Supplies & Expenses $ 5,239.00
Other $ 19,382.67
--------------
TOTAL DISBURSEMENTS $ 1,897,044.21
Add: Disbursements made on behalf of Parent or Affiliates $ 73,981.65
--------------
ADJUSTED TOTAL DISBURSEMENTS $ 1,971,025.86
--------------
NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $ 298,671.75
NET INTERCOMPANY SWEEPS/TRANSFERS - World Access Telecom Group $ --
NET INTERCOMPANY SWEEPS/TRANSFERS - Facilicom International, L.L.C $ --
NET INTERCOMPANY SWEEPS/TRANSFERS - WA Telecom Products Co., Inc. $ --
NET INTERCOMPANY SWEEPS/TRANSFERS - WorldXchange $ --
--------------
NET INTERCOMPANY SWEEPS/TRANSFERS - CURRENT PERIOD $ --
--------------
ENDING BALANCE IN Bank of America - Master 03751046297 $ 65,947.53
ENDING BALANCE IN Bank of America - Disbursement 03299976144 $ 80,291.06
ENDING BALANCE IN Bank of America - Payroll 03299944407 $ 71,738.57
ENDING BALANCE IN Bank of America - Payroll Taxes 03751301149 $ 48,618.34
ENDING BALANCE IN Bank of America - Money Market 851018 $15,156,144.94
ENDING BALANCE IN Deustch Bank - S/T Investment 206-19648 $ 5,168,757.18
ENDING BALANCE IN Bank of America - Restricted Cash $ 1,333,333.95
ENDING BALANCE IN Wells Fargo - Restricted Cash 699-3295970 $ 2.00
ENDING BALANCE IN Chase Manhattan Bank - FISC 719-1-362214 $ 4,990.00
--------------
ENDING BALANCE IN ALL ACCOUNTS $21,929,823.57
==============
OPERATING REPORT Page 1
IN THE UNITED STATES COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
RECEIPTS LISTING
For the Month Ending: August 31, 2002
Bank: Bank of America
Location: Dallas, TX
Account Name: Master Account
Account Number: 03751046297
DATE RECEIVED DESCRIPTION AMOUNT
- ------------- ----------- -------------
08/13/02 Megan Hibbeler $ 223.07
08/13/02 Gloria Mejorado $ 223.07
08/13/02 Liberty Mutual $ 1,290.00
08/13/02 Linda Jacobsen $ 493.84
08/16/02 WXC-UK (Estate Distribution against I/C Payable) $2,216,708.29
08/20/02 Verso Technologies $ 5,993.32
08/26/02 Liberty Mutual $ 12,492.00
08/29/02 Linda Jacobsen $ 493.84
-------------
Total WAXS Receipts $2,237,917.43
=============
Less: Receipts made to or on behalf of Affiliates
WA Telecom Products Co., Inc.
08/20/02 Verso Technologies $ 5,993.32
-------------
Total Affiliate Receipts $ 5,993.32
-------------
Total WAXS Receipts $2,231,924.11
=============
OPERATING REPORT Page 2
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
RECEIPTS LISTING
For the Month Ending: August 31, 2002
Bank: Wells Fargo
Location: Minneapolis, MN
Account Name: Restricted Cash
Account Number: 699-3295970
DATE RECEIVED DESCRIPTION AMOUNT
- ------------- ----------- ------
Interest Received $ --
------
Total WAXS Receipts $ --
======
*No Interest Earned This Period
OPERATING REPORT Page 3
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
RECEIPTS LISTING
For the Month Ending: August 31, 2002
Bank: Bank of America (Nations Funds)
Location: Charlotte, NC
Account Name: Money Market
Account Number: 851018
DATE RECEIVED DESCRIPTION AMOUNT
- ------------- ----------- -----------
08/01/02 Interest Received - Strat Cash Fund $ 24,979.14
-----------
Total WAXS Receipts $ 24,979.14
===========
OPERATING REPORT Page 4
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
RECEIPTS LISTING
For the Month Ending: August 31, 2002
Bank: Deutsche Bank Alex. Brown
Location: Baltimore, MD
Account Name: Investment Account
Account Number: 206-19648
DATE RECEIVED DESCRIPTION AMOUNT
- ------------- ----------- ----------
08/27/02 Interest Received $ 6,801.04
----------
Total WAXS Receipts $ 6,801.04
==========
OPERATING REPORT Page 5
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
DISBURSEMENT LISTING
For the Month Ending: August 31, 2002
Bank: Bank of America
Location: Dallas, TX
Account Name: Master Account
Account Number: 03751046297
DATE DISBURSED DESCRIPTION AMOUNT
- -------------- ----------- -----------
08/05/02 Bank Fee $ 30.00
08/09/02 IBM Corporation $ 10,000.00
08/16/02 Merrill Lynch - 401k $ 153.94
08/23/02 Tele-flex Technologies (via Merrill Lynch) $ 20,000.00
-----------
Total WAXS Disbursements $ 30,183.94
===========
Less: Disbursements made to or on behalf of Parent or Affiliates.
Facilicom
08/23/02 Tele-flex Technologies (via Merrill Lynch) $ 20,000.00
WorldxChange
08/09/02 IBM Corporation $ 10,000.00
-----------
Total Affiliate Payments $ 30,000.00
-----------
Total WAXS Disbursements $ 183.94
===========
OPERATING REPORT Page 6
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
DISBURSEMENT LISTING
For the Month Ending: August 31, 2002
Bank: Bank of America
Location: Dallas, TX
Account Name: Corporate Disbursement
Account Number: 03299976144
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT
- -------------- ------------ ----------- ------------
08/02/02 35919 Debra Dawn $ 2,123.95
08/02/02 35920 Apollo Consulting $ 2,000.00
08/02/02 35921 Cadwalader, Wickersham & Taft $ 242,480.93
08/02/02 35922 Coleman Technologies $ 50.00
08/02/02 35923 Latham & Watkins Schone Nolte $ 4,070.80
08/02/02 35924 Mckenna Long & Aldridge $ 51.93
08/02/02 35925 MCI Worldcom $ 3,354.55
08/02/02 35926 North Atlanta Realty $ 32,834.95
08/02/02 35927 Nextel Communications $ 417.09
08/02/02 35928 Nowalsky, Bronston & Gothard $ 765.27
08/02/02 35929 Kamran Saeed $ 450.00
08/09/02 35930 American Express Tax & Business Svcs $ 142,406.97
08/09/02 35931 Cornerstone Research $ 8,595.47
08/09/02 35932 Debra Dawn $ 3,867.85
08/09/02 35933 Decision Quest $ 39,563.42
08/09/02 35934 Federal Express $ 544.50
08/09/02 35935 Gardner, Carton & Douglas $ 75,922.19
08/09/02 35936 Stuart C. Gilson $ 74,827.21
08/09/02 35937 Global Legal Copy $ 3,126.70
08/09/02 35938 Lanier Parking $ 715.00
08/09/02 35939 MCI Worldcom $ 37.41
08/09/02 35940 Metlife $ 3,093.63
08/09/02 35941 PriceWaterhouseCoopers $ 20,301.98
08/09/02 35942 Kamran Saeed $ 450.00
08/09/02 35943 Southern Office Machines $ 557.25
08/09/02 35944 State Compensation Insurance Fund $ 769.81
08/09/02 35945 United Healthcare $ 13,435.86
08/09/02 35946 Pacific Bell $ 99.60
08/16/02 35947 Debra Dawn $ 3,898.64
08/16/02 35948 Federal Express $ 189.21
08/16/02 35949 H. Peter Gant $ 37.80
08/16/02 35950 Jenner & Block $ 182,615.87
08/16/02 35951 Judco Management $ 8,625.00
08/16/02 35952 Lamberth, Cifelli, Stokes & Stout $ 7,274.00
08/16/02 35953 Mckenna Long & Aldridge $ 31,244.21
08/16/02 35954 MCI Worldcom $ 3,017.70
08/16/02 35955 Merrill Lynch Pierce Fenner & Smith $ 5,665.00
08/16/02 35956 Royal Cup Coffee $ 79.93
OPERATING REPORT Page 7 Page 1 of 3
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
DISBURSEMENT LISTING
For the Month Ending: August 31, 2002
Bank: Bank of America
Location: Dallas, TX
Account Name: Corporate Disbursement
Account Number: 03299976144
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT
- -------------- ------------ ----------- --------------
08/16/02 35957 Kamran Saeed $ 675.00
08/16/02 35958 Mark Warner $ 5,000.00
08/16/02 35959 Winstead Sechrest & Minick $ 1,880.22
08/16/02 35960 Pacific Bell $ 385.71
08/16/02 35961 San Diego Gas & Electric $ 451.23
08/23/02 35963 Vanguard Archives $ 641.48
08/23/02 35964 BellSouth $ 2,202.42
08/23/02 35965 Cadwalader, Wickersham & Taft $ 355,515.68
08/23/02 35966 CLS Security Electronics $ 77.85
08/23/02 35967 Coleman Technologies $ 50.00
08/23/02 35968 Continental Stock Trust & Transfer Co. $ 1,589.64
08/23/02 35969 Debra Dawn $ 2,652.00
08/23/02 35970 Federal Express $ 405.87
08/23/02 35971 Katten Muchin Zavis Roseman $ 421,958.49
08/23/02 35972 MCI Worldcom $ 510.37
08/23/02 35973 MCI Worldcom $ 128.01
08/23/02 35974 Nowalsky, Bronston & Gothard $ 1,853.54
08/23/02 35975 Poorman-Douglas Corp. $ 3,837.87
08/23/02 35976 Kamran Saeed $ 450.00
08/28/02 35977 BellSouth $ 461.36
08/28/02 35978 Walter Burmeister $ 1,966.30
08/28/02 35979 Debra Dawn $ 295.67
08/28/02 35980 Decision Quest $ 32,324.33
08/28/02 35981 MCI Worldcom $ 3,354.55
08/28/02 35982 Nextel Communications $ 455.04
08/28/02 35983 Philpot Relocation $ 569.39
08/28/02 35984 Kamran Saeed $ 450.00
08/28/02 35985 Ann Wallace $ 4,018.93
08/28/02 35986 Pacific Bell $ 120.47
--------------
Total $ 1,763,843.10
OPERATING REPORT Page 7 Page 2 of 3
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
DISBURSEMENT LISTING
For the Month Ending: August 31, 2002
Bank: Bank of America
Location: Dallas, TX
Account Name: Corporate Disbursement
Account Number: 03299976144
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT
- -------------- ------------ ----------- --------------
Less: Disbursements made to or on behalf of Parent or Affiliates.
WA Telecom Products Co., Inc.
08/02/02 35926 North Atlanta Realty $ 32,834.95
Facilicom
08/16/02 35951 Judco Management $ 8,625.00
World Access Telecommunication Group, Inc.
08/23/02 35963 Vanguard Archives $ 641.48
08/16/02 35959 Winstead Sechrest & Minick $ 1,880.22
WorldxChange
--------------
Total Affiliate Payments $ 43,981.65
--------------
Total WAXS Disbursements $ 1,719,861.45
==============
OPERATING REPORT Page 7 Page 3 of 3
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
DISBURSEMENT LISTING
For the Month Ending: August 31, 2002
Bank: Bank of America
Location: Dallas, TX
Account Name: Payroll Account
Account Number: 03299944407
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT
- -------------- ------------ ----------- ------------
08/13/02 Multiple Payroll Checks $ 37,406.62
08/27/02 Multiple Payroll Checks $ 80,086.01
------------
Total WAXS Disbursements $ 117,492.63
============
OPERATING REPORT Page 8
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
DISBURSEMENT LISTING
For the Month Ending: August 31, 2002
Bank: Bank of America
Location: Dallas, TX
Account Name: Payroll Account
Account Number: 0751301149
DATE DISBURSED DESCRIPTION AMOUNT
- -------------- ----------- -----------
08/13/02 ADP - Payroll Tax Withholdings $ 15,485.42
08/23/02 ADP - Payroll Processing Fees $ 594.10
08/27/02 ADP - Payroll Tax Withholdings $ 43,416.67
-----------
Total WAXS Disbursements $ 59,496.19
===========
OPERATING REPORT Page 9
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
DISBURSEMENTS LISTING
For the Month Ending: August 31, 2002
Bank: Wells Fargo
Location: Minneapolis, MN
Account Name: Restricted Cash
Account Number: 699-3295970
DATE RECEIVED DESCRIPTION AMOUNT
- ------------- ----------- -------
08/31/02 Bank Fee $ 10.00
-------
Total WAXS Disbursements $ 10.00
=======
OPERATING REPORT Page 10
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
For the Month Ending: August 31, 2002
STATEMENT OF INVENTORY
Beginning Inventory $ --
Add: purchases $ --
Less: goods sold $ --
------------
Ending inventory $ --
============
PAYROLL INFORMATION STATEMENT
Gross payroll for this period $ 176,548.66
Payroll taxes due but unpaid $ --
STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS
DATE REGULAR AMOUNT OF NUMBER OF AMOUNT OF
NAME OF CREDITOR/LESSOR PAYMENT IS DUE REGULAR PAYMENT PAYMENTS DELINQUENT PAYMENTS DELINQUENT
- ----------------------- -------------- --------------- ------------------- -------------------
Xerox Corporation Monthly $1,247.84 10 $12,478.40
OPERATING REPORT Page 11
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
For the Month Ending: August 31, 2002
STATEMENT OF AGED RECEIVABLES
ACCOUNTS RECEIVABLE 3RD PARTY INTERCOMPANY TOTAL
-------------------------------------------------------
Beginning of month balance $ -- $ 12,767,766.90 $ 12,767,766.90
Add: sales on account $ -- $ -- $ --
expenses paid for affiliate $ -- $ 73,981.65 $ 73,981.65
cash advanced to affiliate $ -- $ -- $ --
Less: collections $ -- $ -- $ --
-------------------------------------------------------
End of month balance $ -- $ 12,841,748.55 $ 12,841,748.55
======================================================
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total
- --------- ---------- ---------- ------------ ------------------
$ -- $ -- $ -- $ -- $ --
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)
3RD PARTY INTERCOMPANY TOTAL
------------------------------------------------------------
Beginning of month balance $ 4,606,373.02 $ 18,759,310.93 $ 23,365,683.95
Add: sales on account $ 778,307.86 $ -- $ 778,307.86
Cash received on behalf of Affiliate $ -- $ 5,993.32 $ 5,993.32
Cash received from Affiliate $ -- $ -- $ --
Less: payments $ (1,897,044.21) $ -- $ (1,897,044.21)
------------------------------------------------------------
End of month balance $ 3,487,636.67 $ 18,765,304.25 $ 22,252,940.92
============================================================
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total
- ------------ ------------ ------------ -------------- ------------------
$ 570,837.18 $ 549,298.20 $ 178,556.44 $ 2,188,944.85 $ 3,487,636.67
OPERATING REPORT Page 12
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
For the Month Ending: August 31, 2002
TAX QUESTIONNAIRE
Debtors in possession and trustees are required to pay all taxes
incurred after the filing of their Chapter 11 petition on an as due basis.
Please indicate whether the following post petition taxes or withholdings have
been paid currently.
1. Federal income taxes Yes (X) No ( )
2. FICA withholdings Yes (X) No ( )
3. Employee's withholdings Yes (X) No ( )
4. Employer's FICA Yes (X) No ( )
5. Federal unemployment taxes Yes (X) No ( )
6. State income tax Yes (X) No ( )
7. State employee withholdings Yes (X) No ( )
8. All other state taxes See Note Below
If any of the above have not been paid, state below the tax not paid,
the amounts past due and the date of the last payment.
Note to Item 8:
The Debtor may have personal property subject to tax in various jurisdictions
throughout the United States. No expense has been accrued or paid for any such
potential post-petition claims.
OPERATING REPORT Page 13
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
DECLARATION UNDER PENALTY OF PERJURY
I, Henry C. Lyon, acting as the duly authorized agent for the Debtor in
Possession declare under penalty of perjury under the laws of the United States
that I have read and I certify that the figures, statements, disbursement
itemizations, and account balances as listed in this Monthly Report of the
Debtor are true and correct as of the date of this report to the best of my
knowledge, information and belief.
/s/ Henry C. Lyon
----------------------------------------------
For the Debtor In Possession
Henry C. Lyon
Designated Officer
OPERATING REPORT Page 14
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS
For the Month Ending: September 30, 2002
BEGINNING BALANCE IN ALL ACCOUNTS $ 21,929,823.57
RECEIPTS:
1. Receipts from Operations
2. Other Receipts $ 30,984.04
Other receipts (Received on behalf of Affiliates) $ --
---------------
TOTAL RECEIPTS $ 30,984.04
DISBURSEMENTS
3. Net Payroll
a. Officers $ 38,065.44
b. Others $ 42,364.01
4. Taxes
a. Federal Income Taxes $ 22,523.25
b. FICA Withholdings $ 2,961.17
c. Employee's withholdings $ 384.85
d. Employer's FICA $ 2,961.18
e. Federal Unemployment Taxes $ --
f. State Income Tax $ 5,182.79
g. State Employee withholdings $ 11.23
h. All other state taxes $ --
5. Necessary Expenses
a. Rent or mortgage payment(s) $ --
b. Utilities $ 4,735.23
c. Insurance $ 17,435.20
d. Merchandise bought for manufacture or sell $ --
e. Other necessary expenses
Professional and Bankruptcy Court Related Fees and Expenses $ 785,119.40
Employee Expenses $ 10,156.52
Office Supplies & Expenses $ 4,044.44
Other $ 11,133.07
---------------
TOTAL DISBURSEMENTS $ 947,077.78
Add: Disbursements made on behalf of Parent or Affiliates $ 68,484.44
---------------
ADJUSTED TOTAL DISBURSEMENTS $ 1,015,562.22
---------------
NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $ (984,578.18)
NET INTERCOMPANY SWEEPS/TRANSFERS - World Access Telecom Group $ --
NET INTERCOMPANY SWEEPS/TRANSFERS - Facilicom International, L.L.C $ --
NET INTERCOMPANY SWEEPS/TRANSFERS - WA Telecom Products Co., Inc. $ --
NET INTERCOMPANY SWEEPS/TRANSFERS - WorldXchange $ --
---------------
NET INTERCOMPANY SWEEPS/TRANSFERS - CURRENT PERIOD $ --
---------------
ENDING BALANCE IN Bank of America - Master 03751046297 $ 816,080.29
ENDING BALANCE IN Bank of America - Disbursement 03299976144 $ (70,103.82)
ENDING BALANCE IN Bank of America - Payroll 03299944407 $ (8,690.88)
ENDING BALANCE IN Bank of America - Payroll Taxes 03751301149 $ 14,297.30
ENDING BALANCE IN Bank of America - Money Market 851018 $ 13,679,866.22
ENDING BALANCE IN Deustch Bank - S/T Investment 206-19648 $ 5,175,472.33
ENDING BALANCE IN Bank of America - Restricted Cash $ 1,333,333.95
ENDING BALANCE IN Wells Fargo - Restricted Cash 699-3295970 $ --
ENDING BALANCE IN Chase Manhattan Bank - FISC 719-1-362214 $ 4,990.00
---------------
ENDING BALANCE IN ALL ACCOUNTS $ 20,945,245.39
===============
OPERATING REPORT Page 1
IN THE UNITED STATES COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
RECEIPTS LISTING
For the Month Ending: September 30, 2002
Bank: Bank of America
Location: Dallas, TX
Account Name: Master Account
Account Number: 03751046297
DATE RECEIVED DESCRIPTION AMOUNT
- ------------- ----------- --------
09/25/02 Megan Hibbeler $ 446.14
09/26/02 Avis Refund $ 101.47
--------
Total WAXS Receipts $ 547.61
========
OPERATING REPORT Page 2
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
RECEIPTS LISTING
For the Month Ending: September 30, 2002
Bank: Wells Fargo
Location: Minneapolis, MN
Account Name: Restricted Cash
Account Number: 699-3295970
DATE RECEIVED DESCRIPTION AMOUNT
- ------------- ----------- -------
Interest Received $ --
-------
Total WAXS Receipts $ --
=======
*No Interest Earned This Period
OPERATING REPORT Page 3
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
RECEIPTS LISTING
For the Month Ending: September 30, 2002
Bank: Bank of America (Nations Funds)
Location: Charlotte, NC
Account Name: Money Market
Account Number: 851018
DATE RECEIVED DESCRIPTION AMOUNT
- ------------- ----------- -----------
09/03/02 Interest Received - Strat Cash Fund $ 23,721.28
-----------
Total WAXS Receipts $ 23,721.28
===========
OPERATING REPORT Page 4
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
RECEIPTS LISTING
For the Month Ending: September 30, 2002
Bank: Deutsche Bank Alex. Brown
Location: Baltimore, MD
Account Name: Investment Account
Account Number: 206-19648
DATE RECEIVED DESCRIPTION AMOUNT
- ------------- ----------- ----------
09/25/02 Interest Received $ 6,715.15
----------
Total WAXS Receipts $ 6,715.15
==========
OPERATING REPORT Page 5
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
DISBURSEMENT LISTING
For the Month Ending: September 30, 2002
Bank: Bank of America
Location: Dallas, TX
Account Name: Master Account
Account Number: 03751046297
DATE DISBURSED DESCRIPTION AMOUNT
-------------- ----------- --------
09/04/02 Bank Fee $ 30.00
09/10/02 Merrill Lynch (August 401k Loan W/H) $ 230.91
09/25/02 Merrill Lynch (Sept 401k Loan W/H) $ 153.94
--------
Total WAXS Disbursements $ 414.85
========
OPERATING REPORT Page 6
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
DISBURSEMENT LISTING
For the Month Ending: September 30, 2002
Bank: Bank of America
Location: Dallas, TX
Account Name: Corporate Disbursement
Account Number: 03299976144
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT
- -------------- ------------ ----------- ---------------
09/02/02 35987 North Atlanta Realty Acquisition $ 30,960.85
09/06/02 35988 Apollo Consulting $ 2,000.00
09/06/02 35989 Apto Solutions $ 600.00
09/06/02 35990 Cornerstone Research $ 5,901.09
09/06/02 35991 Debra Dawn $ 1,198.83
09/06/02 35992 Decision Quest $ 2,400.00
09/06/02 35993 Federal Express $ 298.94
09/06/02 35994 Glenda Fuller & Associates $ 305.53
09/06/02 35995 Global Legal Copy $ 295.86
09/06/02 35996 Katten Muchin Zavis Roseman $ 284,038.73
09/06/02 35997 MCI Worldcom $ 37.98
09/06/02 36000 Metlife $ 2,673.42
09/06/02 36001 Kamran Saeed $ 450.00
09/06/02 36002 Trialgraphix, Inc. $ 9,685.00
09/06/02 36003 United Healthcare $ 13,435.86
09/06/02 36004 Pacific Bell $ 105.10
09/13/02 36005 Bowne of Atlanta $ 2,822.00
09/13/02 36006 Debra Dawn $ 3,966.16
09/13/02 36007 Federal Express $ 222.79
09/13/02 36008 Jenner & Block, LLC $ 142,365.21
09/13/02 36009 Lanier Parking Systems $ 715.00
09/13/02 36010 MCI Worldcom $ 3,203.26
09/13/02 36011 PriceWaterhouseCoopers LLP $ 19,251.40
09/13/02 36012 Kamran Saeed $ 450.00
09/13/02 36013 State Compensation Insurance Fund $ 135.86
09/13/02 36014 State Compensation Insurance Fund $ 1,190.06
09/13/02 36015 Mark Warner $ 5,000.00
09/13/02 36016 Winstead Sechrest & Minick $ 27,657.11
09/13/02 36017 Pacific Bell $ 404.20
09/20/02 36018 Debra Dawn $ 3,258.78
09/20/02 36019 Ernst & Young LLP $ 62,539.08
09/20/02 36020 Federal Express $ 390.61
09/20/02 36021 Gardner, Carton & Douglas $ 8,832.00
09/20/02 36022 Judco Management $ 8,625.00
09/20/02 36023 Lamberth, Cifelli, Stokes & Stout P.A. $ 31,160.46
09/20/02 36024 MCI Worldcom $ 53.45
09/20/02 36025 Poorman-Douglas Corp. $ 1,636.34
09/20/02 36026 Royal Cup Coffee $ 61.25
OPERATING REPORT Page 7 Page 1 of 2
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
DISBURSEMENT LISTING
For the Month Ending: September 30, 2002
Bank: Bank of America
Location: Dallas, TX
Account Name: Corporate Disbursement
Account Number: 03299976144
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT
- -------------- ------------ ----------- ---------------
09/20/02 36027 Kamran Saeed $ 450.00
09/20/02 36028 San Deigo Gas & Electric $ 365.48
09/27/02 36029 Vanguard Archives $ 641.48
09/27/02 36030 Coleman Technologies $ 50.00
09/27/02 36031 Continental Stock Trust & Transfer $ 797.65
09/27/02 36032 Debra Dawn $ 1,064.61
09/27/02 36033 Federal Express $ 257.83
09/27/02 36035 Katten Muchin Zavis Roseman $ 127,671.60
09/27/02 36036 Henry Lyon $ 668.14
09/27/02 36037 MCI Worldcom $ 510.37
09/27/02 36038 Nextel Communications $ 55.39
09/27/02 36039 Nowalsky, Bronston & Gothard $ 47.15
09/27/02 36040 Kamran Saeed $ 450.00
09/27/02 36041 Velocity Express $ 48.02
09/27/02 36042 Katten Muchin Zavis Roseman $ 88,989.95
---------------
$ 900,394.88
Less: Disbursements made to or on behalf of Parent or Affiliates.
WA Telecom Products Co., Inc.
09/02/02 35987 North Atlanta Realty Acquisition $ 30,960.85
Facilicom
09/06/02 35989 Apto Solutions $ 600.00
09/20/02 36022 Judco Management $ 8,625.00
World Access Telecommunication Group, Inc.
09/13/02 36016 Winstead Sechrest & Minick $ 27,657.11
09/27/02 36029 Vanguard Archives $ 641.48
---------------
Total Affiliate Payments $ 68,484.44
---------------
Total WAXS Disbursements $ 831,910.44
===============
OPERATING REPORT Page 7 Page 2 of 2
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
DISBURSEMENT LISTING
For the Month Ending: September 30, 2002
Bank: Bank of America
Location: Dallas, TX
Account Name: Payroll Account
Account Number: 03299944407
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT
- -------------- ------------ ----------- -----------
09/10/02 Multiple Payroll Checks $ 40,339.86
09/24/02 Multiple Payroll Checks $ 40,089.59
-----------
Total WAXS Disbursements $ 80,429.45
===========
OPERATING REPORT Page 8
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
DISBURSEMENT LISTING
For the Month Ending: September 30, 2002
Bank: Bank of America
Location: Dallas, TX
Account Name: Payroll Account
Account Number: 0751301149
DATE DISBURSED DESCRIPTION AMOUNT
- -------------- ----------- -----------
09/10/02 ADP - Payroll Tax Withholdings $ 16,772.54
09/20/02 ADP - Payroll Processing Fees $ 681.42
09/24/02 ADP - Payroll Tax Withholdings $ 16,867.08
-----------
Total WAXS Disbursements $ 34,321.04
===========
OPERATING REPORT Page 9
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
DISBURSEMENTS LISTING
For the Month Ending: September 30, 2002
Bank: Wells Fargo
Location: Minneapolis, MN
Account Name: Restricted Cash
Account Number: 699-3295970
DATE RECEIVED DESCRIPTION AMOUNT
- ------------- ----------- ------
09/30/02 Bank Fee $ 2.00
------
Total WAXS Disbursements $ 2.00
======
OPERATING REPORT Page 10
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
For the Month Ending: September 30, 2002
STATEMENT OF INVENTORY
Beginning Inventory $ --
Add: purchases $ --
Less: goods sold $ --
-----------
Ending inventory $ --
===========
PAYROLL INFORMATION STATEMENT
Gross payroll for this period $ 114,453.92
Payroll taxes due but unpaid $ --
STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS
DATE REGULAR AMOUNT OF NUMBER OF AMOUNT OF
NAME OF CREDITOR/LESSOR PAYMENT IS DUE REGULAR PAYMENT PAYMENTS DELINQUENT PAYMENTS DELINQUENT
----------------------- -------------- ---------------- ------------------- -------------------
Xerox Corporation Monthly $ 1,247.84 10 $ 12,478.40
OPERATING REPORT Page 11
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
For the Month Ending: September 30, 2002
STATEMENT OF AGED RECEIVABLES
ACCOUNTS RECEIVABLE 3RD PARTY INTERCOMPANY TOTAL
--------------------------------------------------------
Beginning of month balance $ -- $ 12,841,748.55 $ 12,841,748.55
Add: sales on account $ -- $ -- $ --
expenses paid for affiliate $ -- $ 68,484.44 $ 68,484.44
cash advanced to affiliate $ -- $ -- $ --
Less: collections $ -- $ -- $ --
--------------------------------------------------------
End of month balance $ -- $ 12,910,232.99 $ 12,910,232.99
========================================================
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total
- --------- ---------- ---------- ------------ ------------------
$ -- $ -- $ -- $ -- $ --
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)
3RD PARTY INTERCOMPANY TOTAL
-------------------------------------------------------
Beginning of month balance $3,487,636.67 $ 18,765,304.25 $ 22,252,940.92
Add: sales on account $ 474,996.38 $ -- $ 474,996.38
Cash received on behalf of Affiliate $ -- $ -- $ --
Cash received from Affiliate $ -- $ -- $ --
Less: payments $ (947,077.78) $ -- $ (947,077.78)
-------------------------------------------------------
End of month balance $3,015,555.27 $ 18,765,304.25 $ 21,780,859.52
=======================================================
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total
- ------------ ------------ ------------ -------------- ------------------
$ 328,483.23 $ 352,201.85 $ 135,032.96 $ 2,199,837.23 $ 3,015,555.27
OPERATING REPORT Page 12
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS
For the Month Ending: September 30, 2002
TAX QUESTIONNAIRE
Debtors in possession and trustees are required to pay all taxes
incurred after the filing of their Chapter 11 petition on an as due basis.
Please indicate whether the following post petition taxes or withholdings have
been paid currently.
1. Federal income taxes Yes (X) No ( )
2. FICA withholdings Yes (X) No ( )
3. Employee's withholdings Yes (X) No ( )
4. Employer's FICA Yes (X) No ( )
5. Federal unemployment taxes Yes (X) No ( )
6. State income tax Yes (X) No ( )
7. State employee withholdings Yes (X) No ( )
8. All other state taxes See Note Below
If any of the above have not been paid, state below the tax not paid,
the amounts past due and the date of the last payment.
Note to Item 8:
The Debtor may have personal property subject to tax in various jurisdictions
throughout the United States. No expense has been accrued or paid for any such
potential post-petition claims.
OPERATING REPORT Page 13
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
DECLARATION UNDER PENALTY OF PERJURY
I, Henry C. Lyon, acting as the duly authorized agent for the Debtor in
Possession declare under penalty of perjury under the laws of the United States
that I have read and I certify that the figures, statements, disbursement
itemizations, and account balances as listed in this Monthly Report of the
Debtor are true and correct as of the date of this report to the best of my
knowledge, information and belief.
/s/ Henry C. Lyon
--------------------------------------------
For the Debtor In Possession
Henry C. Lyon
Designated Officer
OPERATING REPORT Page 14