EXHIBIT 99.1
UNITED STATES BANKRUPTCY COURT
DISTRICT OF COLUMBIA
In Re: Ardent, Inc. (consolidated) Chapter 11
Debtor(s) Ardent Communications, Inc. (ACI) Case Number 01-2085
Ardent, Inc. (AI) Case Number 01-2086
Business Anywhere USA, Inc. (BA) Case Number 01-2208
CAIS Software Solutions, Inc. (CSS) Case Number 01-2209
MONTHLY OPERATING REPORT
CALENDAR MONTH FEBRUARY 1 TO FEBRUARY 28, 2002 (ACI, AI, BA, CSS)
FINANCIAL BACKGROUND INFORMATION
1. ACCOUNTING BASIS: Cash _____ Accrual __X___
2. PREPARER: State the name, address, telephone number and position of
the person(s) who actually compiled the information contained in this report.
Gregory Boryan, Controller
Ardent, Inc.
6861 Elm Street, 2nd Floor
McLean, VA 22101
703-276-4493
3. NUMBER OF EMPLOYEES paid during this period: ___46___
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS since the
last reporting period?
Yes ____ No __X__. If yes, explain below.__N/A_______________________________
________________________________________________________________________________
5. Are all BUSINESS LICENSES current? Yes _X__ No ___ Not Applicable __
6. PRE-PETITION ACCOUNTS RECEIVABLE:
Beginning Balance $ 0
Collected this Period 0
Non-cash Adjustments 0 NOTE: Ending balance is net of
Ending Balance $ 0 allowance for
Non-collectible accounts.
7. POST-PETITION ACCOUNTS RECEIVABLE:
0-30 Days: $ 702,216 31-60 Days: $ 966,878 Over 60 Days: $ 0
If there are any post-petition Accounts Receivable over 60 days, provide
schedule AR giving a listing of such accounts and explain the delinquencies.
8. POST-PETITION ACCOUNTS PAYABLE:
0-30 Days: $ 1,348,828 31-60 Days: $ 120,401 Over 60 Days: $ 86,256
If there are any post-petition Accounts Payable over 30 days, provide
Schedule AP giving a listing of such accounts and explain the delinquencies. See
attached schedule.
9. TAXES. Are all taxes being paid to the proper taxing authorities when
due? Yes _X__ No ___. On the attached IRS Form 6123 report all tax deposits made
with any financial institution for federal employment taxes. Be sure the form is
complete and signed by an authorized employee of the receiving institution or
taxing authority. Attach to this report a completed Form 6123 for each deposit
made during the reporting period. All taxes are reported and remitted to the
appropriate taxing authorities by our outside payroll service, Ceredian Pay
America. Also attach copies of the monthly sales tax report, payroll tax report
and unemployment tax report with evidence of payment of both federal and state
taxes. Ceredian payroll tax reports attached.
10. ESCROW ACCOUNTS. Are you utilizing your tax account only for deposits
and payment of payroll and sales taxes? Yes _____ No ___. If no, explain: N/A
11. Are all BOOKS AND RECORDS of the debtor(s) being maintained monthly and
are all current? Yes _X__ No ___ Explain:
12. INSURANCE EXPIRATION STATEMENT. Policy expiration dates are:
Auto & Truck ____N/A__________ Liability ___________N/A___________
Fire ___________ N/A_______ Workers Comp. _____6/30/02_________
13. ACTIONS OF DEBTOR. During the last month, did the debtor:
(A) Fail to defend or not oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes ___ No __X__
Explain:_______________________________________________________________
_______________________________________________________________________
(B) Maintain such stock, inventory, raw materials, insurance, employees
and other resources as are necessary to preserve and maintain the
going- concern value of the assets of the debtor? Yes _X__ No ___
Explain:
_______________________________________________________________________
14. TRANSFER OR SALE OF PROPERTY. Did the debtor or any person with
control over any of the debtor's assets transfer, convey or abandon any of the
debtor's assets to another party during the period of this report other than as
set forth herein (including sales by creditors)?
Yes __X__ No _____ Explain: See attached schedule
------------------------
15. PAYMENTS TO SECURED CREDITORS during reporting period:
(Attach additional sheets, if necessary.)
- --------------------------------------------------------------------------------------------------------------------------
Creditor Freq. Of Payments per Amount Next Post Petition
Contract (mo, qtr) of Each Payment Pmts. Not made
Payment Due No. Amt.
- --------------------------------------------------------------------------------------------------------------------------
None
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- --------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------
16. PAYMENTS TO PROFESSIONALS (Attorneys, Accountants, Real Estate Agents,
Auctioneers, Appraisers, etc., during reporting period:
(Attach additional sheets, if necessary.)
--------------------------------------------------------------------------------------------
Professional Service Amount
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None
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17. QUARTERLY U.S. TRUSTEE FEES paid during reporting period: $ 0 Amount
to be paid for the quarter ended March 31, 2002 $10,750.
18. VERIFICATION: I declare under penalty of perjury that the information
contained in this monthly operating report (including attached schedules) is
true and correct to the best of my knowledge, information and belief.
Dated: June ______, 2002 DEBTORS-IN-POSSESSION
Name/Title: Ulysses Auger By: Ardent Communications, Inc.
Address: 6861 Elm Street and subsidiaries
McLean, VA 22101 Phone: 703-276-4200
Detail to Question 8 (Schedule AP)
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Post-Petition Accounts Payable over 30 Days (at 2/28/02):
31-60 Over 60
AOL 1,965 Past due balance has been paid
Arnold & Porter 109,648 Past due balance has been paid
Balmar 1,269 Past due balance has been paid
Hughes Network 77,781 Contract rejected, service quality disputes
New York State 1,755 Past due balance has been paid
Verizon Wireless 1,248 Past due balance has been paid
SNET 1,400 Disputed charges
XO Communications 1,426 Disputed charges
Various, under $1,000 2,959 7,206
TOTAL 120,401 86,256
Detail to Question 14
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o Ardent, Inc. sold various computer hardware (PC's, monitors, printers,
etc.), and office furniture at market prices, as follows:
Zayas 845
Burton 50
Peterson. 250
HMU LLC 39,000
Williams 50
Mike Evans 330
Vector 39,139
Robert Orr 5,420
StateWide Comm. 1,540
A. Pookrum 60
TOTAL FOR FEBRUARY 2002 86,684
All sales were made in the ordinary course of business on an
arms-length basis, and were at prices approximating
market value.