UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: The Great Train Store Company Case No. 00-01301 (RRM)
Debtor Reporting Period: Apr-00
MONTHLY OPERATING REPORT
File report and attachments with Court and submit copy to United States Trustee
within 15 days after order for relief
Certificates of insurance must name United States Trustees as a party to be
notified in the event of policy cancellation. Bank accounts and checks must bear
the name of Debtor, the case number, and the designation "Debtor in Possession"
Examples of acceptable evidence of Debtor in Possession Bank accounts include
voided checks, copy of bank deposit agreement/certificate of authority,
signature card, and/or corporate checking resolution.
Document Explanation
REQUIRED DOCUMENTS Attached Attached
- --------------------------------------------------------------------------------
12-Month Cash Flow Projection (Form IR-1) N/A
- --------------------------------------------------------------------------------
Certificates of Insurance:
- --------------------------------------------------------------------------------
Workers Compensation N/A
- --------------------------------------------------------------------------------
Property N/A
- --------------------------------------------------------------------------------
General Liability N/A
- --------------------------------------------------------------------------------
Vehicle N/A
- --------------------------------------------------------------------------------
Other:________________ N/A
- --------------------------------------------------------------------------------
Evidence of Debtor in Possession Bank Accounts
- --------------------------------------------------------------------------------
Tax Escrow Account N/A
- --------------------------------------------------------------------------------
General Operating Account N/A
- --------------------------------------------------------------------------------
Other: Expense & A/P Trade Account N/A
- --------------------------------------------------------------------------------
Other: Concentration Account N/A
- --------------------------------------------------------------------------------
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and
the attached documents are true and correct to the best of my knowledge and
belief.
/s/ Cheryl A. Taylor 5/19/2000
- -------------------------------------- Date
Signature of Debtor
5/19/2000
- -------------------------------------- Date
Signature of Joint Debtor
/s/ Cheryl A. Taylor 5/19/2000
- -------------------------------------- Date
Signature of Authorized
Individual*
Cheryl A. Taylor Vice President - Finance & Administration
- -------------------------------------- Title of Authorized Individual
Printed Name of Authorized Individual
* Authorized individual must be an officer, director or shareholder if Debtor is
a corporation; a partner if Debtor is a partnership; a manager if Debtor is a
limited liability company.
In re: The Great Train Store Company Case No.00-1301 (RRM)
Debtor
CASH FLOW PROJECTIONS FOR THE 12 MONTH PERIOD: ___________________________
through __________________________
Month Month Month Month Month Month Month Month Month Month Month Total
-------------------------------------------------------------------------------------------------------------
Cash Beginning
of Month
- ---------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ---------------------------------------------------------------------------------------------------------------------------
CASH SALES
- ---------------------------------------------------------------------------------------------------------------------------
ACCOUNTS
RECEIVABLE
- ---------------------------------------------------------------------------------------------------------------------------
LOANS AND
ADVANCES
- ---------------------------------------------------------------------------------------------------------------------------
SALE OF
ASSETS
- ---------------------------------------------------------------------------------------------------------------------------
OTHER
(ATTACH LIST)
- ---------------------------------------------------------------------------------------------------------------------------
TOTAL
RECEIPTS
- ---------------------------------------------------------------------------------------------------------------------------
DISBURSEMENTS
- ---------------------------------------------------------------------------------------------------------------------------
NET PAYROLL
- ---------------------------------------------------------------------------------------------------------------------------
PAYROLL TAXES
- ---------------------------------------------------------------------------------------------------------------------------
SALES, USE,
AND OTHER
TAXES
- ---------------------------------------------------------------------------------------------------------------------------
INVENTORY
PURCHASES
- ---------------------------------------------------------------------------------------------------------------------------
SECURED/RENTAL/
LEASES
- ---------------------------------------------------------------------------------------------------------------------------
INSURANCE
- ---------------------------------------------------------------------------------------------------------------------------
ADMINISTRATIVE
& SELLING
- ---------------------------------------------------------------------------------------------------------------------------
OTHER
(ATTACH LIST)
- ---------------------------------------------------------------------------------------------------------------------------
PROFESSIONAL
FEES
- ---------------------------------------------------------------------------------------------------------------------------
U.S. TRUSTEE
FEES
- ---------------------------------------------------------------------------------------------------------------------------
COURT COSTS
- ---------------------------------------------------------------------------------------------------------------------------
TOTAL
DISBURSEMENTS
- ---------------------------------------------------------------------------------------------------------------------------
NET CASH FLOW
(RECEIPTS
LESS
DISBURSEMNTS)
- ---------------------------------------------------------------------------------------------------------------------------
Cash End of
Month
- ---------------------------------------------------------------------------------------------------------------------------
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: The Great Train Store Company Case No. 00-01301 (RRM)
Debtor Reporting Period: Apr-00
MONTHLY OPERATING REPORT
File with Court and submit copy to United States Trustee within 20 days after
end of month
Submit copy of report to any official committee appointed in the case.
Document Explanation
REQUIRED DOCUMENTS Form No. Attached Attached
- --------------------------------------------------------------------------------
Schedule of Cash Receipts
and Disbursements MOR-1 Attached
- --------------------------------------------------------------------------------
Bank Reconciliation (or
copies of Debtor's bank
reconciliations) MOR-1(CONT) Attached
- --------------------------------------------------------------------------------
Copies of bank statements Attached
- --------------------------------------------------------------------------------
Cash disbursements journals N/A
- --------------------------------------------------------------------------------
Statement of Operations MOR-2 Attached
- --------------------------------------------------------------------------------
Balance Sheet MOR-3 Attached
- --------------------------------------------------------------------------------
Status of Postpetition Taxes MOR-4 N/A
- --------------------------------------------------------------------------------
Copies of IRS Form 6123
or payment receipt N/A
- --------------------------------------------------------------------------------
Copies of tax returns filed
during reporting period N/A
- --------------------------------------------------------------------------------
Summary of Unpaid Postpetition
Debts MOR-4 N/A
- --------------------------------------------------------------------------------
Listing of aged accounts payable N/A
- --------------------------------------------------------------------------------
Accounts Receivable Reconciliation
and Aging MOR-5 N/A
- --------------------------------------------------------------------------------
Debtor Questionnaire MOR-5 Included
- --------------------------------------------------------------------------------
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and
the attached documents are true and correct to the best of my knowledge and
belief.
/s/ Cheryl A. Taylor 5/19/2000
- -------------------------------------- Date
Signature of Debtor
5/19/2000
- -------------------------------------- Date
Signature of Joint Debtor
/s/ Cheryl A. Taylor 5/19/2000
- -------------------------------------- Date
Signature of Authorized
Individual*
Cheryl A. Taylor Vice President - Finance & Administration
- -------------------------------------- Title of Authorized Individual
Printed Name of Authorized Individual
* Authorized individual must be an officer, director or shareholder if Debtor is
a corporation; a partner if Debtor is a partnership; a manager if Debtor is a
limited liability company.
In re: The Great Train Store Company Case No. 00-01301 (RRM)
Debtor Reporting Period: Jan-00
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
CUMULATIVE FILING TO DATE
- --------------------------------------------------------------------------------------------------------------
Merrill Lynch ACTUAL PROJECTED ACTUAL PROJECTED
- --------------------------------------------------------------------------------------------------------------
CASH BEGINNING
OF MONTH 798.31 - - - 798.31
- ----------------------------------------------------------------------------------------------------------
RECEIPTS
- ----------------------------------------------------------------------------------------------------------
CASH SALES -
- ----------------------------------------------------------------------------------------------------------
ACCOUNTS RECEIVABLE -
- ----------------------------------------------------------------------------------------------------------
LOANS AND ADVANCES -
- ----------------------------------------------------------------------------------------------------------
SALE OF ASSETS -
- ----------------------------------------------------------------------------------------------------------
OTHER (ATTACH LIST) 5.18 5.18
- ----------------------------------------------------------------------------------------------------------
TRANSFERS
(FROM DIP ACCTS) -
- ----------------------------------------------------------------------------------------------------------
-
- ----------------------------------------------------------------------------------------------------------
TOTAL RECEIPTS 5.18 - - - 5.18
- ----------------------------------------------------------------------------------------------------------
DISBURSEMENTS
- ----------------------------------------------------------------------------------------------------------
NET PAYROLL -
- ----------------------------------------------------------------------------------------------------------
PAYROLL TAXES -
- ----------------------------------------------------------------------------------------------------------
SALES, USE &
OTHER TAXES -
- ----------------------------------------------------------------------------------------------------------
INVENTORY PURCHASES -
- ----------------------------------------------------------------------------------------------------------
SECURED/RENTAL/LEASES -
- ----------------------------------------------------------------------------------------------------------
INSURANCE -
- ----------------------------------------------------------------------------------------------------------
ADMINISTRATIVE -
- ----------------------------------------------------------------------------------------------------------
SELLING -
- ----------------------------------------------------------------------------------------------------------
OTHER
(ATTACH LIST) - -
- ----------------------------------------------------------------------------------------------------------
-
- ----------------------------------------------------------------------------------------------------------
OWNER DRAW* -
- ----------------------------------------------------------------------------------------------------------
TRANSFERS (TO DIP ACCTS) -
- ----------------------------------------------------------------------------------------------------------
-
- ----------------------------------------------------------------------------------------------------------
PROFESSIONAL FEES -
- ----------------------------------------------------------------------------------------------------------
U.S. TRUSTEE QUARTERLY FEES -
- ----------------------------------------------------------------------------------------------------------
COURT COSTS -
- ----------------------------------------------------------------------------------------------------------
TOTAL
DISBURSEMENTS - - - - -
- ----------------------------------------------------------------------------------------------------------
NET CASH FLOW 5.18 - - - 5.18
(RECEIPTS LESS
DISBURSEMENTS)
- ----------------------------------------------------------------------------------------------------------
CASH - END
OF MONTH 803.49 - - - 803.49
- ----------------------------------------------------------------------------------------------------------
THE FOLLOWING SECTION MUST BE COMPLETED
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY
FEES: (FROM CURRENT MONTH ACTUAL COLUMN)
- ----------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS -
- ----------------------------------------------------------------------------------------------------------
LESS: TRANSFERS TO DEBTOR IN POSSESSION -
ACCOUNTS
- ----------------------------------------------------------------------------------------------------------
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE -
SOURCES (ie from escrow accounts)
- ----------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FOR CALCULATING U.S. -
TRUSTEE QUARTERLY FEES --------------------------
In re: The Great Train Store Company Case No. 00-01301 (RRM)
Debtor Reporting Period: Apr-00
BANK RECONCILIATIONS
Continuation Sheet for MOR-1
A bank reconciliation must be included for each bank account. The debtor's bank
reconciliations may be substituted for this page
Merrill
Lynch
- --------------------------------------------------------------------------------
BALANCE PER BOOKS 933.31 - - -
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
BANK BALANCE 803.31 - - -
- --------------------------------------------------------------------------------
(+) DEPOSITS IN TRANSIT - -
- --------------------------------------------------------------------------------
(-) OUTSTANDING CHECKS - -
- --------------------------------------------------------------------------------
OTHER 130.00 - -
- --------------------------------------------------------------------------------
ADJUSTED BANK BALANCE 933.31 - - -
- --------------------------------------------------------------------------------
*Adjusted Bank Balance must -
equal balance per books
- --------------------------------------------------------------------------------
DEPOSITS
IN TRANSIT Date Amount Date Amount Date Amount Date Amount
----------------------------------------------------------------------
----------------------------------------------------------------------
----------------------------------------------------------------------
----------------------------------------------------------------------
----------------------------------------------------------------------
----------------------------------------------------------------------
CHECKS
OUTSTANDING Ch# Amount Ch# Amount Ch# Amount Ch# Amount
---------------------------------------------------------------------
List
Attached
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
OTHER: Transfer will be booked in March 2000.
________________________________________________________________________________
________________________________________________________________________________
In re: The Great Train Store Company Case No: 00-01301 (RRM)
Debtor Reporting Period: April 2000
STATEMENT OF OPERATIONS
(Income Statement)
Cumulative
REVENUES Month Filing to Date
- --------------------------------------------------------------------------------
Gross Revenues - -
- --------------------------------------------------------------------------------
Less: Returns and Allowances - -
- --------------------------------------------------------------------------------
Net Revenue - -
- --------------------------------------------------------------------------------
COST OF GOODS SOLD
- --------------------------------------------------------------------------------
Beginning Inventory - -
- --------------------------------------------------------------------------------
Add: Purchases - -
- --------------------------------------------------------------------------------
Add: Cost of Labor - -
- --------------------------------------------------------------------------------
Add: Other Costs (attach schedule) - -
- --------------------------------------------------------------------------------
Less: Ending Inventory - -
- --------------------------------------------------------------------------------
Cost of Goods Sold - -
- --------------------------------------------------------------------------------
Gross Profit - -
- --------------------------------------------------------------------------------
OPERATING EXPENSES
- --------------------------------------------------------------------------------
Advertising - -
- --------------------------------------------------------------------------------
Auto and Truck Expense -
- --------------------------------------------------------------------------------
Bad Debts -
- --------------------------------------------------------------------------------
Contributions -
- --------------------------------------------------------------------------------
Employee Benefits Program - -
- --------------------------------------------------------------------------------
Insider Compensation* - -
- --------------------------------------------------------------------------------
Insurance - -
- --------------------------------------------------------------------------------
Management Fees/Bonuses
- --------------------------------------------------------------------------------
Office Expense -
- --------------------------------------------------------------------------------
Pension and Profit-Sharing Plans -
- --------------------------------------------------------------------------------
Repairs and Maintenance - -
- --------------------------------------------------------------------------------
Rent and Lease Expense - -
- --------------------------------------------------------------------------------
Salaries/Commissions/Fees - -
- --------------------------------------------------------------------------------
Supplies - -
- --------------------------------------------------------------------------------
Taxes - Payroll - -
- --------------------------------------------------------------------------------
Taxes - Real Estate - -
- --------------------------------------------------------------------------------
Taxes - Other - -
- --------------------------------------------------------------------------------
Travel and Entertainment - -
- --------------------------------------------------------------------------------
Utilities - -
- --------------------------------------------------------------------------------
Other (attach schedule) - -
- --------------------------------------------------------------------------------
Total Operating Expenses
Before Depreciation - -
- --------------------------------------------------------------------------------
Depreciation/Depletion/Amortization - -
- --------------------------------------------------------------------------------
Net Profit (Loss) Before
Other Income & Expenses - -
- --------------------------------------------------------------------------------
OTHER INCOME AND EXPENSES
- --------------------------------------------------------------------------------
Other Income (attach schedule) 114,972.00 255,388.88
- --------------------------------------------------------------------------------
Interest Expense - -
- --------------------------------------------------------------------------------
Other Expense (attach schedule) - -
- --------------------------------------------------------------------------------
REORGANIZATION ITEMS
- --------------------------------------------------------------------------------
Professional Fees - -
- --------------------------------------------------------------------------------
U.S. Trustee Quarterly Fees -
- --------------------------------------------------------------------------------
Interest Earned on Accumulated Cash from
Chapter 11 (see continuation sheet) -
- --------------------------------------------------------------------------------
Gain (Loss) from Sale of Equipment - -
- --------------------------------------------------------------------------------
Other Reorganization Expenses
(attach schedule) - -
- --------------------------------------------------------------------------------
Total Reorganization Expenses - -
- --------------------------------------------------------------------------------
Income Taxes - -
- --------------------------------------------------------------------------------
Net Profit (Loss) 114,972.00 255,388.88
- --------------------------------------------------------------------------------
In re: The Great Train Store Company Case No: 00-01301 (RRM)
Debtor Reporting Period: April 2000
STATEMENT OF OPERATIONS - continuation sheet
BREAKDOWN OF OTHER ACTIVITY MONTH CUMULATIVE
- --------------------------------------------------------------------------------
Other Costs
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Other Operational Expenses
- --------------------------------------------------------------------------------
- -
- -------------------------------------------------------------------------------
- -
- -------------------------------------------------------------------------------
- -
- -------------------------------------------------------------------------------
- -
- -------------------------------------------------------------------------------
- -
- -------------------------------------------------------------------------------
- -
- -------------------------------------------------------------------------------
- -
- -------------------------------------------------------------------------------
- -
- -------------------------------------------------------------------------------
- -
- -------------------------------------------------------------------------------
- -
- -------------------------------------------------------------------------------
- -
- -------------------------------------------------------------------------------
- -
- -------------------------------------------------------------------------------
- -
- -------------------------------------------------------------------------------
- -
- -------------------------------------------------------------------------------
- -
- -------------------------------------------------------------------------------
Total - -
- -------------------------------------------------------------------------------
Other Income
- -------------------------------------------------------------------------------
Intercompany - License Fee 114,972.00 255,388.88
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Total 114,972.00 255,388.88
- -------------------------------------------------------------------------------
Other Expense
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Other Reorganization Expenses
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
In re: The Great Train Store Company Case No: 00-01301 (RRM)
Debtor Reporting Period: April 2000
BALANCE SHEET
ASSETS BOOK VALUE AT END OF CURRENT BOOK VALUE ON
REPORTING MONTH PETITION DATE
- --------------------------------------------------------------------------------
CURRENT ASSETS
- --------------------------------------------------------------------------------
Unrestricted Cash and Equivalents 798.31 504,651.73
- --------------------------------------------------------------------------------
Restricted Cash and Cash Equivalents
(see continuation sheet)
- --------------------------------------------------------------------------------
Accounts Receivable (Net) - -
- --------------------------------------------------------------------------------
Notes Receivable
- --------------------------------------------------------------------------------
Inventories - -
- --------------------------------------------------------------------------------
Prepaid Expenses
- --------------------------------------------------------------------------------
Professional Retainers - -
- --------------------------------------------------------------------------------
Other Current Assets (attach schedule)
- --------------------------------------------------------------------------------
TOTAL CURRENT ASSETS 798.31 504,651.73
- --------------------------------------------------------------------------------
PROPERTY AND EQUIPMENT
- --------------------------------------------------------------------------------
Real Property and Improvements - -
- --------------------------------------------------------------------------------
Machinery and Equipment
- --------------------------------------------------------------------------------
Furniture, Fixtures and Office Equipment - -
- --------------------------------------------------------------------------------
Leasehold Improvements
- --------------------------------------------------------------------------------
Vehicles
- --------------------------------------------------------------------------------
Less Accumulated Depreciation - -
- --------------------------------------------------------------------------------
TOTAL PROPERTY AND EQUIPMENT - -
- --------------------------------------------------------------------------------
OTHER ASSETS
- --------------------------------------------------------------------------------
Loans to Insiders *
- --------------------------------------------------------------------------------
Other Assets (attach schedule) 20,189,432.64 19,430,190.34
- --------------------------------------------------------------------------------
TOTAL OTHER ASSETS 20,189,432.64 19,430,190.34
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
TOTAL ASSETS 20,190,230.95 19,934,842.07
- --------------------------------------------------------------------------------
LIABILITIES AND OWNER EQUITY BOOK VALUE AT END OF CURRENT BOOK VALUE ON
REPORTING MONTH PETITION DATE
- --------------------------------------------------------------------------------
LIABILITIES NOT SUBJECT TO
COMPROMISE (Postpetition)
- --------------------------------------------------------------------------------
Merchandise Payable
- --------------------------------------------------------------------------------
Accounts Payable
- --------------------------------------------------------------------------------
Taxes Payable (refer to FORM MOR-4)
- --------------------------------------------------------------------------------
Wages Payable
- --------------------------------------------------------------------------------
Notes Payable
- --------------------------------------------------------------------------------
Rent/Leases - Building/Equipment
- --------------------------------------------------------------------------------
Secured Debt/Adequate Protection Payments
- --------------------------------------------------------------------------------
Professional Fees
- --------------------------------------------------------------------------------
Amounts Due to Insiders*
- --------------------------------------------------------------------------------
Other Postpetition Liabilities
(attach schedule) (87,170.00) (87,170.00)
- --------------------------------------------------------------------------------
TOTAL POSTPETITION LIABILITIES (87,170.00) (87,170.00)
- --------------------------------------------------------------------------------
LIABILITIES SUBJECT TO COMPROMISE
(Pre-Petition)
- --------------------------------------------------------------------------------
Secured Debt
- --------------------------------------------------------------------------------
Priority Debt 2,942,328.00 2,942,328.00
- --------------------------------------------------------------------------------
Unsecured Debt
- --------------------------------------------------------------------------------
TOTAL PRE-PETITION LIABILITIES 2,942,328.00 2,942,328.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
TOTAL LIABILITIES 2,855,158.00 2,855,158.00
- --------------------------------------------------------------------------------
OWNER EQUITY
- --------------------------------------------------------------------------------
Capital Stock 45,212.73 45,212.73
- --------------------------------------------------------------------------------
Additional Paid-In Capital 10,453,405.90 10,453,405.90
- --------------------------------------------------------------------------------
Partners' Capital Account 94,119.00 94,119.00
- --------------------------------------------------------------------------------
Owner's Equity Account
- --------------------------------------------------------------------------------
Retained Earnings - Pre-Petition 6,486,946.44 6,486,946.44
- --------------------------------------------------------------------------------
Retained Earnings - Postpetition 255,388.88
- --------------------------------------------------------------------------------
Adjustments to Owner Equity
(attach schedule)
- --------------------------------------------------------------------------------
NET OWNER EQUITY 17,335,072.95 17,079,684.07
- --------------------------------------------------------------------------------
TOTAL LIABILITIES AND OWNERS' EQUITY 20,190,230.95 19,934,842.07
- --------------------------------------------------------------------------------
In re: The Great Train Store Company Case No: 00-01301 (RRM)
Debtor Reporting Period: April 2000
Balance Sheet - continuation sheet
Book Value at end of Book Value
Assets Current Reporting Month on Petition Date
- --------------------------------------------------------------------------------
Other Current Assets
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Other Assets
- --------------------------------------------------------------------------------
Intercompany 9,370,184.44 8,866,331.02
- --------------------------------------------------------------------------------
Intercompany Advances
to TGTS Partners (872,615.09) (872,615.09)
- --------------------------------------------------------------------------------
Intercompany License
Fee Receivable 9,005,978.81 8,750,589.93
- --------------------------------------------------------------------------------
Intercompany Investment
in TGTS Partners 3,823,270.22 3,823,270.22
- --------------------------------------------------------------------------------
Intercompany Investment
in GTS Partner, Inc. (1,137,318.78) (1,137,318.78)
- --------------------------------------------------------------------------------
Other (66.96) (66.96)
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
20,189,432.64 19,430,190.34
- --------------------------------------------------------------------------------
Liabilities and Book Value at end of Book Value
Owners Equity Current Reporting Month on Petition Date
- --------------------------------------------------------------------------------
Other Postpetition
Liabilities
- --------------------------------------------------------------------------------
Intercompany (100,000.00) (100,000.00)
- --------------------------------------------------------------------------------
Other 12,830.00 12,830.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Total (87,170.00) (87,170.00)
- --------------------------------------------------------------------------------
Adjustments to
Owner's Equity
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Postpetition Contributions
(Distributions) (Draws)
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
In re: The Great Train Store Company Case No: 00-01301 (RRM)
Debtor Reporting Period: April 2000
STATUS OF POSTPETITION TAXES
Beginning Amount Ending
Tax Withheld or Amount Date Check No. Tax
Liability Accrued Paid Paid or EFT Liability
- --------------------------------------------------------------------------------
Federal
- --------------------------------------------------------------------------------
Withholding - - - -
- --------------------------------------------------------------------------------
FICA-Employee - - - -
- --------------------------------------------------------------------------------
FICA-Employer - - - -
- --------------------------------------------------------------------------------
Unemployment - - - -
- --------------------------------------------------------------------------------
Income - - - -
- --------------------------------------------------------------------------------
Other:
_____________ - - - -
- --------------------------------------------------------------------------------
Total Federal
Taxes - - - -
- --------------------------------------------------------------------------------
State and Local
- --------------------------------------------------------------------------------
Withholding - - - -
- --------------------------------------------------------------------------------
Sales - - - -
- --------------------------------------------------------------------------------
Excise - - - -
- --------------------------------------------------------------------------------
Unemployment - - - -
- --------------------------------------------------------------------------------
Real Property - - - -
- --------------------------------------------------------------------------------
Personal Property - - - -
- --------------------------------------------------------------------------------
Other:
_____________ - - - -
- --------------------------------------------------------------------------------
Total State and
Local Taxes - - - -
- --------------------------------------------------------------------------------
Total Taxes - - - -
- --------------------------------------------------------------------------------
SUMMARY OF UNPAID POSTPETITION DEBTS
Attach aged listing of accounts payable
Number of Days Past Due
Current 0-30 31-60 61-90 Over 90 Total
- --------------------------------------------------------------------------------
Accounts Payable - -
- --------------------------------------------------------------------------------
Wages Payable - -
- --------------------------------------------------------------------------------
Taxes Payable - -
- --------------------------------------------------------------------------------
Rent/Leases-
Building - - -
- --------------------------------------------------------------------------------
Rent/Leases-
Equipment - -
- --------------------------------------------------------------------------------
Secured Debt/
Adequate
Protection
Payments - -
- --------------------------------------------------------------------------------
Professional Fees - -
- --------------------------------------------------------------------------------
Amounts Due to
Insiders* - -
- --------------------------------------------------------------------------------
Other: Interest on
Tandem Warrants - -
- --------------------------------------------------------------------------------
Other:
______________ - -
- --------------------------------------------------------------------------------
Total Postpetition
Debts - - - - - -
- --------------------------------------------------------------------------------
Explain how and when the Debtor intends to pay any past-due postpetition debts
In Re: The Great Train Store Company Case No: 00-01301 (RRM)
Debtor Reporting Period: April 2000
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
Accounts Receivable Reconciliation Amount
- --------------------------------------------------------------------------------
Total Accounts Receivable at the
beginning of the reporting period -
- --------------------------------------------------------------------------------
Add: Amounts billed during the period -
- --------------------------------------------------------------------------------
Less: Amounts collected during the period -
- --------------------------------------------------------------------------------
Total Accounts Receivable at the
end of the reporting period -
- --------------------------------------------------------------------------------
Accounts Receivable Aging Amount
- --------------------------------------------------------------------------------
0-30 days old -
- --------------------------------------------------------------------------------
31-60 days old -
- --------------------------------------------------------------------------------
61-90 days old
- --------------------------------------------------------------------------------
Total Accounts Receivable -
- ------------------------------------------------------------------------------
Amount considered uncollectible (Bad Debt)
- ------------------------------------------------------------------------------
Accounts Receivable (Net) -
- ------------------------------------------------------------------------------
DEBTOR QUESTIONNAIRE
Must be completed each month Yes No
- --------------------------------------------------------------------------------
1. Have any assets been sold or transferred outside the No
normal course of business this reporting period?
If yes, provide an explanation below.
- --------------------------------------------------------------------------------
2. Have any funds been disbursed from any account other No*
than a debtor in possession account this reporting period?
If yes, provide an explanation below.
- --------------------------------------------------------------------------------
3. Have all postpetition tax returns been timely filed? Yes
If no, provide an explanation below.
- --------------------------------------------------------------------------------
4. Are workers compensation, general liability and N/A
other necessary insurance coverages in effect?
If no, provide an explanation below.
- --------------------------------------------------------------------------------
* The court approved the use of already existing bank accounts, so all bank
accounts used were "Debtor in Possesson" accounts.
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: The Great Train Store Partners, L.P. Case No. 00-01302 (RRM)
Debtor Reporting Period: Apr-00
MONTHLY OPERATING REPORT
File report and attachments with Court and submit copy to United States Trustee
within 15 days after order for relief
Certificates of insurance must name United States Trustees as a party to be
notified in the event of policy cancellation. Bank accounts and checks must bear
the name of Debtor, the case number, and the designation "Debtor in Possession"
Examples of acceptable evidence of Debtor in Possession Bank accounts include
voided checks, copy of bank deposit agreement/certificate of authority,
signature card, and/or corporate checking resolution.
Document Explanation
REQUIRED DOCUMENTS Attached Attached
- --------------------------------------------------------------------------------
12-Month Cash Flow Projection (Form IR-1) N/A
- --------------------------------------------------------------------------------
Certificates of Insurance:
- --------------------------------------------------------------------------------
Workers Compensation Included
- --------------------------------------------------------------------------------
Property Included
- --------------------------------------------------------------------------------
General Liability Included
- --------------------------------------------------------------------------------
Vehicle Included
- --------------------------------------------------------------------------------
Other:________________
- --------------------------------------------------------------------------------
Evidence of Debtor in Possession Bank Accounts
- --------------------------------------------------------------------------------
Tax Escrow Account
- --------------------------------------------------------------------------------
General Operating Account Included
- --------------------------------------------------------------------------------
Other: Expense & A/P Trade Account Included
- --------------------------------------------------------------------------------
Other: Concentration Account Included
- --------------------------------------------------------------------------------
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and
the attached documents are true and correct to the best of my knowledge and
belief.
GTS PARTNER, INC.
By Cheryl A. Taylor, Vice President 5/19/2000
- -------------------------------------- Date
Signature of Debtor
5/19/2000
- -------------------------------------- Date
Signature of Joint Debtor
/s/ Cheryl A. Taylor 5/19/2000
- -------------------------------------- Date
Signature of Authorized
Individual*
Cheryl A. Taylor Vice President - Finance & Administration
- -------------------------------------- Title of Authorized Individual
Printed Name of Authorized Individual
* Authorized individual must be an officer, director or shareholder if Debtor is
a corporation; a partner if Debtor is a partnership; a manager if Debtor is a
limited liability company.
In re: The Great Train Store Partners, L.P. Case No. 00-01302 (RRM)
Debtor
Explanation:
Debtor has not prepared a 12 month Cash Flow at this time.
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: The Great Train Store Partners, L.P. Case No. 00-01302 (RRM)
Debtor Reporting Period: Apr-00
MONTHLY OPERATING REPORT
File with Court and submit copy to United States Trustee within 20 days after
end of month
Submit copy of report to any official committee appointed in the case.
REQUIRED DOCUMENTS Form No. Document Explanation
Attached Attached
- --------------------------------------------------------------------------------
Schedule of Cash Receipts
and Disbursements MOR-1 Attached
- --------------------------------------------------------------------------------
Bank Reconciliation (or
copies of Debtor's bank
reconciliations) MOR-1(CONT) Attached
- --------------------------------------------------------------------------------
Copies of bank statements Attached
- --------------------------------------------------------------------------------
Cash disbursements journals Attached
- --------------------------------------------------------------------------------
Statement of Operations MOR-2 Attached
- --------------------------------------------------------------------------------
Balance Sheet MOR-3 Attached
- --------------------------------------------------------------------------------
Status of Postpetition Taxes MOR-4 Attached
- --------------------------------------------------------------------------------
Copies of IRS Form 6123
or payment receipt
- --------------------------------------------------------------------------------
Copies of tax returns filed
during reporting period
- --------------------------------------------------------------------------------
Summary of Unpaid Postpetition
Debts MOR-4 Attached
- --------------------------------------------------------------------------------
Listing of aged accounts payable
- --------------------------------------------------------------------------------
Accounts Receivable Reconciliation
and Aging MOR-5 Attached
- --------------------------------------------------------------------------------
Debtor Questionnaire MOR-5 Attached
- --------------------------------------------------------------------------------
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and
the attached documents are true and correct to the best of my knowledge and
belief.
GTS PARTNER, INC.
By Cheryl A. Taylor, Vice President 5/19/2000
- -------------------------------------- Date
Signature of Debtor
5/19/2000
- -------------------------------------- Date
Signature of Joint Debtor
/s/ Cheryl A. Taylor 5/19/2000
- -------------------------------------- Date
Signature of Authorized
Individual*
Cheryl A. Taylor Vice President - Finance & Administration
- -------------------------------------- Title of Authorized Individual
Printed Name of Authorized Individual
* Authorized individual must be an officer, director or shareholder if Debtor is
a corporation; a partner if Debtor is a partnership; a manager if Debtor is a
limited liability company.
In re: The Great Train Store Partners, L.P. Case No. 00-01302 (RRM)
Debtor Reporting Period: Apr-00
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
CUMULATIVE FILING TO DATE
- ---------------------------------------------------------------------------------------------------------------------
OPER. A/P TRADE EXPENSE CONCENTRATION ACTUAL PROJECTED ACTUAL PROJECTED
- ---------------------------------------------------------------------------------------------------------------------
CASH BEGINNING
OF MONTH 7,727.43 6,085.80 43,835.54 87,538.32 145,187.09 474,030.18
- ---------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ---------------------------------------------------------------------------------------------------------------------
CASH SALES 2,058,168.66 2,058,168.66 4,643,856.07
- ---------------------------------------------------------------------------------------------------------------------
ACCOUNTS RECEIVABLE - -
- ---------------------------------------------------------------------------------------------------------------------
LOANS AND
ADVANCES 1,014,305.49 31,581.01 845,545.13 1,891,431.63 4,838,208.61
- ---------------------------------------------------------------------------------------------------------------------
SALE OF ASSETS -
- ---------------------------------------------------------------------------------------------------------------------
OTHER (ATTACH LIST) -
- ---------------------------------------------------------------------------------------------------------------------
TRANSFERS
(FROM DIP ACCTS) -
- ---------------------------------------------------------------------------------------------------------------------
-
- ---------------------------------------------------------------------------------------------------------------------
TOTAL RECEIPTS 1,014,305.49 31,581.01 845,545.13 2,058,168.66 3,949,600.29 9,482,064.68
- ---------------------------------------------------------------------------------------------------------------------
DISBURSEMENTS
- ---------------------------------------------------------------------------------------------------------------------
NET PAYROLL 379,488.98 379,488.98 772,907.51
- ---------------------------------------------------------------------------------------------------------------------
PAYROLL TAXES 150,637.10 150,637.10 312,493.21
- ---------------------------------------------------------------------------------------------------------------------
SALES, USE &
OTHER TAXES - -
- ---------------------------------------------------------------------------------------------------------------------
INVENTORY PURCHASES - -
- ---------------------------------------------------------------------------------------------------------------------
SECURED/RENTAL/LEASES - -
- ---------------------------------------------------------------------------------------------------------------------
INSURANCE - -
- ---------------------------------------------------------------------------------------------------------------------
ADMINISTRATIVE - -
- ---------------------------------------------------------------------------------------------------------------------
SELLING - -
- ---------------------------------------------------------------------------------------------------------------------
OTHER
(ATTACH LIST) 490,906.84 32,037.01 835,373.27 1,358,317.12 3,750,878.01
- ---------------------------------------------------------------------------------------------------------------------
-
- ---------------------------------------------------------------------------------------------------------------------
OWNER DRAW* -
- ---------------------------------------------------------------------------------------------------------------------
TRANSFERS (TO DIP ACCTS) 2,145,706.98 2,145,706.98 4,913,994.84
- ---------------------------------------------------------------------------------------------------------------------
- -
- ---------------------------------------------------------------------------------------------------------------------
PROFESSIONAL FEES - -
- ---------------------------------------------------------------------------------------------------------------------
U.S. TRUSTEE QUARTERLY FEES - -
- ---------------------------------------------------------------------------------------------------------------------
COURT COSTS - -
- ---------------------------------------------------------------------------------------------------------------------
TOTAL
DISBURSEMENTS 1,021,032.92 32,037.01 835,373.27 2,145,706.98 4,034,150.18 9,750,273.57
- ---------------------------------------------------------------------------------------------------------------------
NET CASH FLOW
(RECEIPTS LESS
DISBURSEMENTS) (6,727.43) (456.00) 10,171.86 (87,538.32) (84,549.89) (268,208.89)
- ---------------------------------------------------------------------------------------------------------------------
CASH - END
OF MONTH 1,000.00 5,629.80 54,007.40 - 60,637.20 205,821.29
- ---------------------------------------------------------------------------------------------------------------------
THE FOLLOWING SECTION MUST BE COMPLETED
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY
FEES: (FROM CURRENT MONTH ACTUAL COLUMN)
- ---------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS 4,034,150.18
- ---------------------------------------------------------------------------------------------------------------------
LESS: TRANSFERS TO DEBTOR IN POSSESSION
ACCOUNTS 2,145,706.98
- ---------------------------------------------------------------------------------------------------------------------
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE
SOURCES (ie. from escrow accounts) 0
- ---------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FOR CALCULATING U.S. 1,888,443.20
TRUSTEE QUARTERLY FEES -------------------------------------
In re: The Great Train Store Partners, L.P. Case No. 00-01302 (RRM)
Debtor Reporting Period: Apr-00
BANK RECONCILIATIONS
Continuation Sheet for MOR-1
A bank reconciliation must be included for each bank account. The debtor's bank
reconciliations may be substituted for this page
OPERATING A/P TRADE EXPENSE CONCENTRATION
- --------------------------------------------------------------------------------
BALANCE PER BOOKS - - -
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
BANK BALANCE - - -
- --------------------------------------------------------------------------------
(+) DEPOSITS IN TRANSIT -
- --------------------------------------------------------------------------------
(-) OUTSTANDING CHECKS -
- --------------------------------------------------------------------------------
OTHER - -
- --------------------------------------------------------------------------------
ADJUSTED BANK BALANCE - - -
- --------------------------------------------------------------------------------
*Adjusted Bank Balance must
equal balance per books
- --------------------------------------------------------------------------------
DEPOSITS
IN TRANSIT Date Amount Date Amount Date Amount Date Amount
----------------------------------------------------------------------
----------------------------------------------------------------------
----------------------------------------------------------------------
----------------------------------------------------------------------
----------------------------------------------------------------------
----------------------------------------------------------------------
CHECKS
OUTSTANDING Ch# Amount Ch# Amount Ch# Amount Ch# Amount
---------------------------------------------------------------------
List
Attached
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
OTHER:
________________________________________________________________________________
________________________________________________________________________________
In re: The Great Train Store Partners, L.P. Case No: 00-01302 (RRM)
Debtor Reporting Period: April 2000
STATEMENT OF OPERATIONS
(Income Statement)
Cumulative
REVENUES Month Filing to Date
- --------------------------------------------------------------------------------
Gross Revenues 1,981,988.63 4,316,074.44
- --------------------------------------------------------------------------------
Less: Returns and Allowances 85,495.80 191,892.25
- --------------------------------------------------------------------------------
Net Revenue 1,896,492.83 4,124,182.19
- --------------------------------------------------------------------------------
COST OF GOODS SOLD
- --------------------------------------------------------------------------------
Beginning Inventory 7,255,147.79 14,510,295.79
- --------------------------------------------------------------------------------
Add: Purchases 651,006.50 1,417,841.69
- --------------------------------------------------------------------------------
Add: Cost of Labor - -
- --------------------------------------------------------------------------------
Add: Other Costs (attach schedule) 169,869.34 1,440,196.34
- --------------------------------------------------------------------------------
Less: Ending Inventory 7,170,302.99 15,165,269.99
- --------------------------------------------------------------------------------
Cost of Goods Sold 905,720.64 2,203,063.33
- --------------------------------------------------------------------------------
Gross Profit 990,772.19 1,921,118.86
- --------------------------------------------------------------------------------
OPERATING EXPENSES
- --------------------------------------------------------------------------------
Advertising 27,022.25 31,866.88
- --------------------------------------------------------------------------------
Auto and Truck Expense -
- --------------------------------------------------------------------------------
Bad Debts -
- --------------------------------------------------------------------------------
Contributions -
- --------------------------------------------------------------------------------
Employee Benefits Program 23,567.10 43,128.16
- --------------------------------------------------------------------------------
Insider Compensation* 35,576.94 71,153.88
- --------------------------------------------------------------------------------
Insurance 5,107.10 19,593.92
- --------------------------------------------------------------------------------
Management Fees/Bonuses
- --------------------------------------------------------------------------------
Office Expense -
- --------------------------------------------------------------------------------
Pension and Profit-Sharing Plans -
- --------------------------------------------------------------------------------
Repairs and Maintenance 3,913.53 5,287.56
- --------------------------------------------------------------------------------
Rent and Lease Expense 609,242.70 1,005,934.78
- --------------------------------------------------------------------------------
Salaries/Commissions/Fees 458,775.05 1,065,202.35
- --------------------------------------------------------------------------------
Supplies 18,439.58 36,660.78
- --------------------------------------------------------------------------------
Taxes - Payroll 46,495.93 118,404.29
- --------------------------------------------------------------------------------
Taxes - Real Estate -
- --------------------------------------------------------------------------------
Taxes - Other 3,955.64 9,940.64
- -------------------------------------------------------------------------------
Travel and Entertainment 21,011.10 37,310.52
- --------------------------------------------------------------------------------
Utilities 37,532.01 53,509.39
- --------------------------------------------------------------------------------
Other (attach schedule) 212,941.00 372,763.37
- --------------------------------------------------------------------------------
Total Operating Expenses
Before Depreciation 1,503,579.93 2,870,756.52
- --------------------------------------------------------------------------------
Depreciation/Depletion/Amortization 82,021.21 178,885.38
- --------------------------------------------------------------------------------
Net Profit (Loss) Before Other Income & Expenses (594,828.95) (1,128,523.04)
- --------------------------------------------------------------------------------
OTHER INCOME AND EXPENSES
- --------------------------------------------------------------------------------
Other Income (attach schedule) 1,843.14 3,638.30
- --------------------------------------------------------------------------------
Interest Expense 24,401.62 126,657.32
- --------------------------------------------------------------------------------
Other Expense (attach schedule) 114,972.00 255,388.88
- --------------------------------------------------------------------------------
REORGANIZATION ITEMS
- --------------------------------------------------------------------------------
Professional Fees - -
- --------------------------------------------------------------------------------
U.S. Trustee Quarterly Fees -
- --------------------------------------------------------------------------------
Interest Earned on Accumulated Cash from
Chapter 11 (see continuation sheet) -
- --------------------------------------------------------------------------------
Gain (Loss) from Sale of Equipment (258,582.01) (258,582.01)
- --------------------------------------------------------------------------------
Other Reorganization Expenses
(attach schedule) - -
- --------------------------------------------------------------------------------
Total Reorganization Expenses - -
- --------------------------------------------------------------------------------
Income Taxes - -
- --------------------------------------------------------------------------------
Net Profit (Loss) (990,941.44) (1,765,512.95)
- --------------------------------------------------------------------------------
In re: The Great Train Store Partners, L.P. Case No: 00-01302 (RRM)
Debtor Reporting Period: April 2000
STATEMENT OF OPERATIONS - continuation sheet
BREAKDOWN OF OTHER ACTIVITY MONTH CUMULATIVE
- --------------------------------------------------------------------------------
Other Costs
- --------------------------------------------------------------------------------
Freight 27,105.16 57,628.16
- --------------------------------------------------------------------------------
Cash Discounts (52.42) (27,405.42)
- --------------------------------------------------------------------------------
Train Repair 121.25 1,412.25
- --------------------------------------------------------------------------------
Inventory Variation 32,953.16 70,515.16
- --------------------------------------------------------------------------------
Change in Prepaid Inventory (25,483.67) 362,087.33
- --------------------------------------------------------------------------------
Change in Transfers in transit (3,687.73) (22,178.73)
- --------------------------------------------------------------------------------
Change in Inventory Adjustments (69,463.39) 785,467.61
- --------------------------------------------------------------------------------
Change in Accrued Shrink (32,953.16) (72,391.16)
- --------------------------------------------------------------------------------
Change in Def. Allowance (1,987.71) (6,740.71)
- --------------------------------------------------------------------------------
Change in Reserve 242,704.18 242,704.18
- --------------------------------------------------------------------------------
Returns (55,642.22) (55,642.22)
- --------------------------------------------------------------------------------
Change in A/P POD 56,255.89 104,649.89
- --------------------------------------------------------------------------------
Total 169,869.34 1,440,106.34
- --------------------------------------------------------------------------------
Other Operational Expenses
- --------------------------------------------------------------------------------
Bad Check Expense 478.70 (36.91)
- --------------------------------------------------------------------------------
Board Meeting 5,000.00
- --------------------------------------------------------------------------------
Credit Card Charges 28,636.41 59,247.21
- --------------------------------------------------------------------------------
Cash Over/Short 1,021.36 4,510.06
- --------------------------------------------------------------------------------
Casual Labor 188.00 188.00
- --------------------------------------------------------------------------------
Consulting Fees 2,371.25 10,094.77
- --------------------------------------------------------------------------------
Computer Processing 4,814.82 6,314.82
- --------------------------------------------------------------------------------
Licenses and Permits 7,187.08 7,782.08
- --------------------------------------------------------------------------------
Postage 22,779.35 60,452.52
- --------------------------------------------------------------------------------
Public Co. Expense 70.07 70.07
- --------------------------------------------------------------------------------
Satellite Office 3,800.00 7,600.00
- --------------------------------------------------------------------------------
Service Charges 105,739.43 132,769.07
- --------------------------------------------------------------------------------
Wrap and Pack - 20,776.70
- --------------------------------------------------------------------------------
Relocation 8,384.20 12,594.27
- --------------------------------------------------------------------------------
Personnel Advertising 2,838.31 5,371.22
- --------------------------------------------------------------------------------
Telephone 19,663.00 30,005.52
- --------------------------------------------------------------------------------
Legal - 17,152.44
- --------------------------------------------------------------------------------
Misc. Exp. (30.98) (7,128.47)
- --------------------------------------------------------------------------------
Total 212,941.00 372,763.37
- --------------------------------------------------------------------------------
Other Income
- --------------------------------------------------------------------------------
Sales Tax Discount 1,143.94 2,094.15
- --------------------------------------------------------------------------------
Interest Income 5.21 155.21
- --------------------------------------------------------------------------------
Other Income 693.99 1,388.94
- --------------------------------------------------------------------------------
- -
- --------------------------------------------------------------------------------
Total 1,843.14 3,638.30
- -------------------------------------------------------------------------------
Other Expense
- -------------------------------------------------------------------------------
Intercompany - License Fee 114,972.00 255,388.88
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Other Reorganization Expenses
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
In re: The Great Train Store Partners, L.P. Case No: 00-01302 (RRM)
Debtor Reporting Period: April 2000
BALANCE SHEET
ASSETS BOOK VALUE AT END OF CURRENT BOOK VALUE ON
REPORTING MONTH PETITION DATE
- --------------------------------------------------------------------------------
CURRENT ASSETS
- --------------------------------------------------------------------------------
Unrestricted Cash and Equivalents (396,147.32) 350,140.77
- --------------------------------------------------------------------------------
Restricted Cash and Cash Equivalents
(see continuation sheet)
- --------------------------------------------------------------------------------
Accounts Receivable (Net) 86,607.77 68,872.67
- --------------------------------------------------------------------------------
Notes Receivable
- --------------------------------------------------------------------------------
Inventories 7,170,302.99 7,210,202.06
- --------------------------------------------------------------------------------
Prepaid Expenses
- --------------------------------------------------------------------------------
Professional Retainers -
- --------------------------------------------------------------------------------
Other Current Assets (attach schedule)
- --------------------------------------------------------------------------------
TOTAL CURRENT ASSETS 6,860,763.44 7,629,215.50
- --------------------------------------------------------------------------------
PROPERTY AND EQUIPMENT
- --------------------------------------------------------------------------------
Real Property and Improvements 5,101,656.03 5,484,908.96
- --------------------------------------------------------------------------------
Machinery and Equipment -
- --------------------------------------------------------------------------------
Furniture, Fixtures and Office Equipment 3,289,567.50 3,459,836.11
- --------------------------------------------------------------------------------
Leasehold Improvements -
- --------------------------------------------------------------------------------
Vehicles -
- --------------------------------------------------------------------------------
Less Accumulated Depreciation 3,745,760.02 3,890,914.43
- --------------------------------------------------------------------------------
TOTAL PROPERTY AND EQUIPMENT 4,645,463.51 5,053,830.64
- --------------------------------------------------------------------------------
OTHER ASSETS
- --------------------------------------------------------------------------------
Loans to Insiders *
- --------------------------------------------------------------------------------
Other Assets (attach schedule) 1,080,407.91 579,726.72
- --------------------------------------------------------------------------------
TOTAL OTHER ASSETS 1,080,407.91 579,726.72
- --------------------------------------------------------------------------------
TOTAL ASSETS 12,586,634.86 13,262,772.86
- --------------------------------------------------------------------------------
LIABILITIES AND OWNER EQUITY BOOK VALUE AT END OF CURRENT BOOK VALUE ON
REPORTING MONTH PETITION DATE
- --------------------------------------------------------------------------------
LIABILITIES NOT SUBJECT TO
COMPROMISE (Postpetition)
- --------------------------------------------------------------------------------
Merchandise Payable 10,326.91
- --------------------------------------------------------------------------------
Accounts Payable 25,278.94 517,821.08
- --------------------------------------------------------------------------------
Taxes Payable (refer to FORM MOR-4) 122,873.19 135,314.56
- --------------------------------------------------------------------------------
Wages Payable 80,128.47 245,761.18
- --------------------------------------------------------------------------------
Notes Payable 282,022.38 312,825.81
- --------------------------------------------------------------------------------
Rent/Leases - Building/Equipment
- --------------------------------------------------------------------------------
Secured Debt/Adequate Protection Payments 3,950,731.92 3,642,084.38
- --------------------------------------------------------------------------------
Professional Fees
- --------------------------------------------------------------------------------
Amounts Due to Insiders*
- --------------------------------------------------------------------------------
Other Postpetition Liabilities 18,535,389.54 18,248,391.83
(attach schedule)
- --------------------------------------------------------------------------------
TOTAL POSTPETITION LIABILITIES 23,006,751.35 23,102,198.84
- --------------------------------------------------------------------------------
LIABILITIES SUBJECT TO COMPROMISE
(Pre-Petition)
- --------------------------------------------------------------------------------
Secured Debt - -
- --------------------------------------------------------------------------------
Priority Debt
- --------------------------------------------------------------------------------
Unsecured Debt 4,153,228.83 2,931,820.57
- --------------------------------------------------------------------------------
TOTAL PRE-PETITION LIABILITIES 4,153,228.83 2,931,820.57
- --------------------------------------------------------------------------------
TOTAL LIABILITIES 27,159,980.18 26,034,019.41
- --------------------------------------------------------------------------------
OWNER EQUITY
- --------------------------------------------------------------------------------
Capital Stock
- --------------------------------------------------------------------------------
Additional Paid-In Capital
- --------------------------------------------------------------------------------
Partners' Capital Account (10,807,323.52) (10,807,323.52)
- --------------------------------------------------------------------------------
Owner's Equity Account -
- --------------------------------------------------------------------------------
Retained Earnings - Pre-Petition (1,963,923.03) (1,963,923.03)
- --------------------------------------------------------------------------------
Retained Earnings - Postpetition (1,802,098.77)
- --------------------------------------------------------------------------------
Adjustments to Owner Equity
(attach schedule)
- --------------------------------------------------------------------------------
NET OWNER EQUITY (14,573,345.32) (12,771,246.55)
- --------------------------------------------------------------------------------
TOTAL LIABILITIES AND OWNERS' EQUITY 12,586,634.86 13,262,772.86
- --------------------------------------------------------------------------------
In re: The Great Train Store Partners, L.P. Case No: 00-01302 (RRM)
Debtor Reporting Period: April 2000
Balance Sheet - continuation sheet
Book Value at end of Book Value
Assets Current Reporting Month on Petition Date
- --------------------------------------------------------------------------------
Other Current Assets
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Other Assets
- --------------------------------------------------------------------------------
Professional Retainers 435,100.00
- --------------------------------------------------------------------------------
Committee Funds 80,000.00
- --------------------------------------------------------------------------------
Deposits 28,124.04 28,124.04
- --------------------------------------------------------------------------------
Wrap and Pack 41,784.92 47,610.65
- --------------------------------------------------------------------------------
Prepaid Financing Tandem 124,184.08 135,875.84
- --------------------------------------------------------------------------------
Prepaid Financing Paragon 172,848.27 180,629.05
- --------------------------------------------------------------------------------
Lease Negotiation Costs - Stores 167,102.49 187,487.14
- --------------------------------------------------------------------------------
Debt Issuance Costs 31,264.11
- --------------------------------------------------------------------------------
Total 1,080,407.91 579,726.72
- --------------------------------------------------------------------------------
Liabilities and Book Value at end of Book Value
Owners Equity Current Reporting Month on Petition Date
- --------------------------------------------------------------------------------
Other Postpetition
Liabilities
- --------------------------------------------------------------------------------
Gift Certificates Issued 138,418.80 158,520.20
- --------------------------------------------------------------------------------
Straight Lined Rent 1,277,728.52 1,247,153.67
- --------------------------------------------------------------------------------
Note Payable - License Fee 8,615,694.81 8,360,305.93
- --------------------------------------------------------------------------------
Intercompany 8,483,933.93 8,483,933.93
- --------------------------------------------------------------------------------
Fixture Sale Payable 19,613.48
- --------------------------------------------------------------------------------
Other - (1,521.90)
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Total 18,535,389.54 18,248,391.83
- --------------------------------------------------------------------------------
Adjustments to
Owner's Equity
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Postpetition Contributions
(Distributions) (Draws)
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
In re: The Great Train Store Partners, L.P. Case No: 00-01302 (RRM)
Debtor Reporting Period: April 2000
STATUS OF POSTPETITION TAXES
Beginning Amount Ending
Tax Withheld or Amount Date Check No. Tax
Liability Accrued Paid Paid or EFT Liability
- --------------------------------------------------------------------------------
Federal
- --------------------------------------------------------------------------------
Withholding 14,804.20 - 14,804.20 4/14/00& EFT (0.00)
4/28/00
- --------------------------------------------------------------------------------
FICA-Employee 7,900.79 - 7,900.79 4/14/00& EFT -
4/28/00
- --------------------------------------------------------------------------------
FICA-Employer 7,900.76 - 7,900.76 4/14/00& EFT 0.00
4/28/00
- --------------------------------------------------------------------------------
Unemployment 742.09 - 742.09 4/14/00& EFT 0.00
4/28/00
- --------------------------------------------------------------------------------
Income - - - -
- --------------------------------------------------------------------------------
Other:
_____________ 1,847.76 - 1,847.76 4/14/00& EFT -
4/28/00
- --------------------------------------------------------------------------------
Total Federal
Taxes 33,195.60 - 33,195.60 4/14/00& EFT 0.00
4/28/00
- --------------------------------------------------------------------------------
State and Local
- --------------------------------------------------------------------------------
Withholding 2,713.52 - 2,713.52 4/14/00& EFT 0.00
4/28/00
- --------------------------------------------------------------------------------
Sales 164,455.59 122,873.19 164,455.59 4/15/00& Check* 122,873.19
4/20/00
- --------------------------------------------------------------------------------
Excise - - - -
- --------------------------------------------------------------------------------
Unemployment 2,125.82 - 2,125.82 4/14/00& EFT (0.00)
4/28/00
- --------------------------------------------------------------------------------
Real Property - - - -
- --------------------------------------------------------------------------------
Personal
Property - - - -
- --------------------------------------------------------------------------------
Other:
_____________ 193.56 - 193.56 4/14/00& EFT 0.00
4/28/00
- --------------------------------------------------------------------------------
Total State 169,488.49 122,873.19 169,488.49 4/14/00& EFT 122,873.19
and Local Taxes 4/28/00
- --------------------------------------------------------------------------------
Total Taxes 202,684.10 122,873.19 202,684.09 EFT 122,873.20
- --------------------------------------------------------------------------------
* List Attached
SUMMARY OF UNPAID POSTPETITION DEBTS
Attach aged listing of accounts payable
Number of Days Past Due
----------------------------------------------------------
Current 0-30 31-60 61-90 Over 90 Total
- --------------------------------------------------------------------------------
Accounts Payable - -
- --------------------------------------------------------------------------------
Wages Payable - -
- --------------------------------------------------------------------------------
Taxes Payable - -
- --------------------------------------------------------------------------------
Rent/Leases-
Building - - -
- --------------------------------------------------------------------------------
Rent/Leases-
Equipment - -
- --------------------------------------------------------------------------------
Secured Debt/
Adequate
Protection
Payments - -
- --------------------------------------------------------------------------------
Professional Fees - -
- --------------------------------------------------------------------------------
Amounts Due to
Insiders* - -
- --------------------------------------------------------------------------------
Other: Interest on
Tandem Warrants - -
- --------------------------------------------------------------------------------
Other:
______________ - -
- --------------------------------------------------------------------------------
Total Postpetition
Debts - - - - - -
- --------------------------------------------------------------------------------
Explain how and when the Debtor intends to pay any past-due postpetition debts
In Re: The Great Train Store Partners, L.P. Case No: 00-01302 (RRM)
Debtor Reporting Period: April 2000
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
Accounts Receivable Reconciliation Amount
- --------------------------------------------------------------------------------
Total Accounts Receivable at the
beginning of the reporting period 71,319.32
- --------------------------------------------------------------------------------
Add: Amounts billed during the period 32,067.23
- --------------------------------------------------------------------------------
Less: Amounts collected during the period (16,778.78)
- --------------------------------------------------------------------------------
Total Accounts Receivable at the
end of the reporting period 86,607.77
- --------------------------------------------------------------------------------
Accounts Receivable Aging Amount
- --------------------------------------------------------------------------------
0-30 days old 16,778.78
- --------------------------------------------------------------------------------
31-60 days old 20,573.99
- --------------------------------------------------------------------------------
61-90 days old 49,255.00
- --------------------------------------------------------------------------------
Total Accounts Receivable 86,607.77
- --------------------------------------------------------------------------------
Amount considered uncollectible (Bad Debt)
- --------------------------------------------------------------------------------
Accounts Receivable (Net) 86,607.77
- --------------------------------------------------------------------------------
DEBTOR QUESTIONNAIRE
Must be completed each month Yes No
- --------------------------------------------------------------------------------
1. Have any assets been sold or transferred outside the No
normal course of business this reporting period?
If yes, provide an explanation below.
- --------------------------------------------------------------------------------
2. Have any funds been disbursed from any account other No*
than a debtor in possession account this reporting period?
If yes, provide an explanation below.
- --------------------------------------------------------------------------------
3. Have all postpetition tax returns been timely filed? Yes
If no, provide an explanation below.
- --------------------------------------------------------------------------------
4. Are workers compensation, general liability and Yes
other necessary insurance coverages in effect?
If no, provide an explanation below.
- --------------------------------------------------------------------------------
* The court approved the use of already existing bank accounts, so all bank
accounts used were "Debtor in Possesson" accounts.
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: GTS Limited Partner, Inc. Case No. 00-01303 (RRM)
Debtor Reporting Period: Apr-00
MONTHLY OPERATING REPORT
File report and attachments with Court and submit copy to United States Trustee
within 15 days after order for relief
Certificates of insurance must name United States Trustees as a party to be
notified in the event of policy cancellation. Bank accounts and checks must bear
the name of Debtor, the case number, and the designation "Debtor in Possession"
Examples of acceptable evidence of Debtor in Possession Bank accounts include
voided checks, copy of bank deposit agreement/certificate of authority,
signature card, and/or corporate checking resolution.
Document Explanation
REQUIRED DOCUMENTS Attached Attached
- --------------------------------------------------------------------------------
12-Month Cash Flow Projection (Form IR-1) N/A
- --------------------------------------------------------------------------------
Certificates of Insurance:
- --------------------------------------------------------------------------------
Workers Compensation N/A
- --------------------------------------------------------------------------------
Property N/A
- --------------------------------------------------------------------------------
General Liability N/A
- --------------------------------------------------------------------------------
Vehicle N/A
- --------------------------------------------------------------------------------
Other:________________ N/A
- --------------------------------------------------------------------------------
Evidence of Debtor in Possession Bank Accounts
- --------------------------------------------------------------------------------
Tax Escrow Account N/A
- --------------------------------------------------------------------------------
General Operating Account N/A
- --------------------------------------------------------------------------------
Other: Expense & A/P Trade Account N/A
- --------------------------------------------------------------------------------
Other: Concentration Account N/A
- --------------------------------------------------------------------------------
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and
the attached documents are true and correct to the best of my knowledge and
belief.
/s/ Cheryl A. Taylor 5/19/2000
- -------------------------------------- Date
Signature of Debtor
5/19/2000
- -------------------------------------- Date
Signature of Joint Debtor
/s/ Cheryl A. Taylor 5/19/2000
- -------------------------------------- Date
Signature of Authorized
Individual*
Cheryl A. Taylor Vice President - Finance & Administration
- -------------------------------------- Title of Authorized Individual
Printed Name of Authorized Individual
* Authorized individual must be an officer, director or shareholder if Debtor is
a corporation; a partner if Debtor is a partnership; a manager if Debtor is a
limited liability company.
In re: GTS Limited Partner, Inc. Case No. 00-01303 (RRM)
Debtor
CASH FLOW PROJECTIONS FOR THE 12 MONTH PERIOD: ___________________________
through __________________________
Month Month Month Month Month Month Month Month Month Month Month Total
-------------------------------------------------------------------------------------------------------------
Cash Beginning
of Month
- ---------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ---------------------------------------------------------------------------------------------------------------------------
CASH SALES
- ---------------------------------------------------------------------------------------------------------------------------
ACCOUNTS
RECEIVABLE
- ---------------------------------------------------------------------------------------------------------------------------
LOANS AND
ADVANCES
- ---------------------------------------------------------------------------------------------------------------------------
SALE OF
ASSETS
- ---------------------------------------------------------------------------------------------------------------------------
OTHER
(ATTACH LIST)
- ---------------------------------------------------------------------------------------------------------------------------
TOTAL
RECEIPTS
DISBURSEMENTS
- ---------------------------------------------------------------------------------------------------------------------------
NET PAYROLL
- ---------------------------------------------------------------------------------------------------------------------------
PAYROLL TAXES
- ---------------------------------------------------------------------------------------------------------------------------
SALES, USE,
AND OTHER
TAXES
- ---------------------------------------------------------------------------------------------------------------------------
INVENTORY
PURCHASES
- ---------------------------------------------------------------------------------------------------------------------------
SECURED/RENTAL/LEASES
- ---------------------------------------------------------------------------------------------------------------------------
INSURANCE
- ---------------------------------------------------------------------------------------------------------------------------
ADMINISTRATIVE
& SELLING
- ---------------------------------------------------------------------------------------------------------------------------
OTHER
(ATTACH LIST)
- ---------------------------------------------------------------------------------------------------------------------------
PROFESSIONAL
FEES
- ---------------------------------------------------------------------------------------------------------------------------
U.S. TRUSTEE
FEES
- ---------------------------------------------------------------------------------------------------------------------------
COURT COSTS
- ---------------------------------------------------------------------------------------------------------------------------
TOTAL
DISBURSEMENTS
- ---------------------------------------------------------------------------------------------------------------------------
NET CASH FLOW
(RECEIPTS
LESS
DISBURSEMNTS)
- ---------------------------------------------------------------------------------------------------------------------------
Cash End of
Month
- ---------------------------------------------------------------------------------------------------------------------------
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: GTS Limited Partner, Inc. Case No. 00-01303 (RRM)
Debtor Reporting Period: Apr-00
MONTHLY OPERATING REPORT
File with Court and submit copy to United States Trustee within 20 days after
end of month
Submit copy of report to any official committee appointed in the case.
REQUIRED DOCUMENTS Form No. Document Explanation
Attached Attached
- --------------------------------------------------------------------------------
Schedule of Cash Receipts
and Disbursements MOR-1 N/A
- --------------------------------------------------------------------------------
Bank Reconciliation (or
copies of Debtor's bank
reconciliations) MOR-1(CONT) N/A
- --------------------------------------------------------------------------------
Copies of bank statements N/A
- --------------------------------------------------------------------------------
Cash disbursements journals N/A
- --------------------------------------------------------------------------------
Statement of Operations MOR-2 N/A
- --------------------------------------------------------------------------------
Balance Sheet MOR-3 Included
- --------------------------------------------------------------------------------
Status of Postpetition Taxes MOR-4 N/A
- --------------------------------------------------------------------------------
Copies of IRS Form 6123
or payment receipt N/A
- --------------------------------------------------------------------------------
Copies of tax returns filed
during reporting period N/A
- --------------------------------------------------------------------------------
Summary of Unpaid Postpetition
Debts MOR-4 N/A
- --------------------------------------------------------------------------------
Listing of aged accounts payable N/A
- --------------------------------------------------------------------------------
Accounts Receivable Reconciliation
and Aging MOR-5 N/A
- --------------------------------------------------------------------------------
Debtor Questionnaire MOR-5 Included
- --------------------------------------------------------------------------------
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and
the attached documents are true and correct to the best of my knowledge and
belief.
/s/ Cheryl A. Taylor 5/19/2000
- -------------------------------------- Date
Signature of Debtor
5/19/2000
- -------------------------------------- Date
Signature of Joint Debtor
/s/ Cheryl A. Taylor 5/19/2000
- -------------------------------------- Date
Signature of Authorized
Individual*
Cheryl A. Taylor Vice President - Finance & Administration
- -------------------------------------- Title of Authorized Individual
Printed Name of Authorized Individual
* Authorized individual must be an officer, director or shareholder if Debtor is
a corporation; a partner if Debtor is a partnership; a manager if Debtor is a
limited liability company.
In re: GTS Limited Partner, Inc. Case No. 00-01303 (RRM)
Debtor Reporting Period: Apr-00
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
CUMULATIVE FILING TO DATE
- --------------------------------------------------------------------------------------------------------------
OPER. A/P TRADE EXPENSE CONCENTRATION ACTUAL PROJECTED ACTUAL PROJECTED
- --------------------------------------------------------------------------------------------------------------
CASH BEGINNING
OF MONTH - - - - -
- ----------------------------------------------------------------------------------------------------------
RECEIPTS
- ----------------------------------------------------------------------------------------------------------
CASH SALES -
- ----------------------------------------------------------------------------------------------------------
ACCOUNTS RECEIVABLE -
- ----------------------------------------------------------------------------------------------------------
LOANS AND ADVANCES -
- ----------------------------------------------------------------------------------------------------------
SALE OF ASSETS -
- ----------------------------------------------------------------------------------------------------------
OTHER (ATTACH LIST)
- ----------------------------------------------------------------------------------------------------------
TRANSFERS
(FROM DIP ACCTS) -
- ----------------------------------------------------------------------------------------------------------
-
- ----------------------------------------------------------------------------------------------------------
TOTAL RECEIPTS - - - - -
- ----------------------------------------------------------------------------------------------------------
DISBURSEMENTS
- ----------------------------------------------------------------------------------------------------------
NET PAYROLL -
- ----------------------------------------------------------------------------------------------------------
PAYROLL TAXES -
- ----------------------------------------------------------------------------------------------------------
SALES, USE &
OTHER TAXES -
- ----------------------------------------------------------------------------------------------------------
INVENTORY PURCHASES -
- ----------------------------------------------------------------------------------------------------------
SECURED/RENTAL/LEASES -
- ----------------------------------------------------------------------------------------------------------
INSURANCE -
- ----------------------------------------------------------------------------------------------------------
ADMINISTRATIVE -
- ----------------------------------------------------------------------------------------------------------
SELLING -
- ----------------------------------------------------------------------------------------------------------
OTHER
(ATTACH LIST)
- ----------------------------------------------------------------------------------------------------------
-
- ----------------------------------------------------------------------------------------------------------
OWNER DRAW* -
- ----------------------------------------------------------------------------------------------------------
TRANSFERS (TO DIP ACCTS) -
- ----------------------------------------------------------------------------------------------------------
-
- ----------------------------------------------------------------------------------------------------------
PROFESSIONAL FEES -
- ----------------------------------------------------------------------------------------------------------
U.S. TRUSTEE QUARTERLY FEES -
- ----------------------------------------------------------------------------------------------------------
COURT COSTS -
- ----------------------------------------------------------------------------------------------------------
TOTAL
DISBURSEMENTS - - - - -
- ----------------------------------------------------------------------------------------------------------
NET CASH FLOW - - - - -
(RECEIPTS LESS
DISBURSEMENTS)
- ----------------------------------------------------------------------------------------------------------
CASH - END
OF MONTH - - - - -
- ----------------------------------------------------------------------------------------------------------
THE FOLLOWING SECTION MUST BE COMPLETED
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY
FEES: (FROM CURRENT MONTH ACTUAL COLUMN)
- ----------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS -
- ----------------------------------------------------------------------------------------------------------
LESS: TRANSFERS TO DEBTOR IN POSSESSION -
ACCOUNTS
- ----------------------------------------------------------------------------------------------------------
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE -
SOURCES (ie. from escrow accounts)
- ----------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FOR CALCULATING U.S. -
TRUSTEE QUARTERLY FEES --------------------------
In re: GTS Limited Partner, Inc. Case No. 00-01303 (RRM)
Debtor Reporting Period: Apr-00
BANK RECONCILIATIONS
Continuation Sheet for MOR-1
A bank reconciliation must be included for each bank account. The debtor's bank
reconciliations may be substituted for this page
OPERATING A/P TRADE EXPENSE CONCENTRATION
- --------------------------------------------------------------------------------
BALANCE PER BOOKS - - - -
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
BANK BALANCE
- --------------------------------------------------------------------------------
(+) DEPOSITS IN TRANSIT
- --------------------------------------------------------------------------------
(-) OUTSTANDING CHECKS
- --------------------------------------------------------------------------------
OTHER
- --------------------------------------------------------------------------------
ADJUSTED BANK BALANCE - - - -
- --------------------------------------------------------------------------------
*Adjusted Bank Balance must
equal balance per books
- --------------------------------------------------------------------------------
DEPOSITS
IN TRANSIT Date Amount Date Amount Date Amount Date Amount
----------------------------------------------------------------------
----------------------------------------------------------------------
----------------------------------------------------------------------
----------------------------------------------------------------------
----------------------------------------------------------------------
----------------------------------------------------------------------
CHECKS
OUTSTANDING Ch# Amount Ch# Amount Ch# Amount Ch# Amount
---------------------------------------------------------------------
List
Attached
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
OTHER:
________________________________________________________________________________
________________________________________________________________________________
In re: GTS Limited Partner, Inc. Case No. 00-01303 (RRM)
Debtor Reporting Period: April 2000
STATEMENT OF OPERATIONS
(Income Statement)
Cumulative
REVENUES Month Filing to Date
- --------------------------------------------------------------------------------
Gross Revenues - -
- --------------------------------------------------------------------------------
Less: Returns and Allowances - -
- --------------------------------------------------------------------------------
Net Revenue - -
- --------------------------------------------------------------------------------
COST OF GOODS SOLD
- --------------------------------------------------------------------------------
Beginning Inventory - -
- --------------------------------------------------------------------------------
Add: Purchases - -
- --------------------------------------------------------------------------------
Add: Cost of Labor - -
- --------------------------------------------------------------------------------
Add: Other Costs (attach schedule) - -
- --------------------------------------------------------------------------------
Less: Ending Inventory - -
- --------------------------------------------------------------------------------
Cost of Goods Sold - -
- --------------------------------------------------------------------------------
Gross Profit - -
- --------------------------------------------------------------------------------
OPERATING EXPENSES
- --------------------------------------------------------------------------------
Advertising - -
- --------------------------------------------------------------------------------
Auto and Truck Expense -
- --------------------------------------------------------------------------------
Bad Debts -
- --------------------------------------------------------------------------------
Contributions -
- --------------------------------------------------------------------------------
Employee Benefits Program - -
- --------------------------------------------------------------------------------
Insider Compensation* - -
- --------------------------------------------------------------------------------
Insurance - -
- --------------------------------------------------------------------------------
Management Fees/Bonuses
- --------------------------------------------------------------------------------
Office Expense -
- --------------------------------------------------------------------------------
Pension and Profit-Sharing Plans -
- --------------------------------------------------------------------------------
Repairs and Maintenance - -
- --------------------------------------------------------------------------------
Rent and Lease Expense - -
- --------------------------------------------------------------------------------
Salaries/Commissions/Fees - -
- --------------------------------------------------------------------------------
Supplies - -
- --------------------------------------------------------------------------------
Taxes - Payroll - -
- --------------------------------------------------------------------------------
Taxes - Real Estate - -
- --------------------------------------------------------------------------------
Taxes - Other - -
- --------------------------------------------------------------------------------
Travel and Entertainment - -
- --------------------------------------------------------------------------------
Utilities - -
- --------------------------------------------------------------------------------
Other (attach schedule) - -
- --------------------------------------------------------------------------------
Total Operating Expenses
Before Depreciation - -
- --------------------------------------------------------------------------------
Depreciation/Depletion/Amortization - -
- --------------------------------------------------------------------------------
Profit (Loss) Before Other Income & Expenses - -
- --------------------------------------------------------------------------------
OTHER INCOME AND EXPENSES
- --------------------------------------------------------------------------------
Other Income (attach schedule) - -
- --------------------------------------------------------------------------------
Interest Expense - -
- --------------------------------------------------------------------------------
Other Expense (attach schedule) - -
- --------------------------------------------------------------------------------
REORGANIZATION ITEMS
- --------------------------------------------------------------------------------
Professional Fees - -
- --------------------------------------------------------------------------------
U.S. Trustee Quarterly Fees -
- --------------------------------------------------------------------------------
Interest Earned on Accumulated Cash from
Chapter 11 (see continuation sheet) -
- --------------------------------------------------------------------------------
Gain (Loss) from Sale of Equipment - -
- --------------------------------------------------------------------------------
Other Reorganization Expenses
(attach schedule) - -
- --------------------------------------------------------------------------------
Total Reorganization Expenses - -
- --------------------------------------------------------------------------------
Income Taxes - -
- --------------------------------------------------------------------------------
Net Profit (Loss) - -
- --------------------------------------------------------------------------------
In re: GTS Limited Partner, Inc. Case No. 00-01303 (RRM)
Debtor Reporting Period: April 2000
STATEMENT OF OPERATIONS - continuation sheet
BREAKDOWN OF OTHER ACTIVITY MONTH CUMULATIVE
- --------------------------------------------------------------------------------
Other Costs
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Other Operational Expenses
- --------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Total - -
- -------------------------------------------------------------------------------
Other Income
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Total - -
- -------------------------------------------------------------------------------
Other Expense
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Other Reorganization Expenses
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
In re: GTS Limited Partner, Inc. Case No. 00-01303 (RRM)
Debtor Reporting Period: April 2000
BALANCE SHEET
ASSETS BOOK VALUE AT END OF CURRENT BOOK VALUE ON
REPORTING MONTH PETITION DATE
- --------------------------------------------------------------------------------
CURRENT ASSETS
- --------------------------------------------------------------------------------
Unrestricted Cash and Equivalents - -
- --------------------------------------------------------------------------------
Restricted Cash and Cash Equivalents
(see continuation sheet)
- --------------------------------------------------------------------------------
Accounts Receivable (Net) - -
- --------------------------------------------------------------------------------
Notes Receivable
- --------------------------------------------------------------------------------
Inventories - -
- --------------------------------------------------------------------------------
Prepaid Expenses -
- --------------------------------------------------------------------------------
Professional Retainers - -
- --------------------------------------------------------------------------------
Other Current Assets (attach schedule)
- --------------------------------------------------------------------------------
TOTAL CURRENT ASSETS - -
- --------------------------------------------------------------------------------
PROPERTY AND EQUIPMENT
- --------------------------------------------------------------------------------
Real Property and Improvements - -
- --------------------------------------------------------------------------------
Machinery and Equipment -
- --------------------------------------------------------------------------------
Furniture, Fixtures and Office Equipment - -
- --------------------------------------------------------------------------------
Leasehold Improvements
- --------------------------------------------------------------------------------
Vehicles
- --------------------------------------------------------------------------------
Less Accumulated Depreciation - -
- --------------------------------------------------------------------------------
TOTAL PROPERTY AND EQUIPMENT - -
- --------------------------------------------------------------------------------
OTHER ASSETS
- --------------------------------------------------------------------------------
Loans to Insiders *
- --------------------------------------------------------------------------------
Other Assets (attach schedule) (360,265.26) (360,265.26)
- --------------------------------------------------------------------------------
TOTAL OTHER ASSETS (360,265.26) (360,265.26)
- --------------------------------------------------------------------------------
TOTAL ASSETS (360,265.26) (360,265.26)
- --------------------------------------------------------------------------------
LIABILITIES AND OWNER EQUITY BOOK VALUE AT END OF CURRENT BOOK VALUE ON
REPORTING MONTH PETITION DATE
- --------------------------------------------------------------------------------
LIABILITIES NOT SUBJECT TO
COMPROMISE (Postpetition)
- --------------------------------------------------------------------------------
Merchandise Payable -
- --------------------------------------------------------------------------------
Accounts Payable - -
- --------------------------------------------------------------------------------
Taxes Payable (refer to FORM MOR-4) - -
- --------------------------------------------------------------------------------
Wages Payable - -
- --------------------------------------------------------------------------------
Notes Payable - -
- --------------------------------------------------------------------------------
Rent/Leases - Building/Equipment
- --------------------------------------------------------------------------------
Secured Debt/Adequate Protection Payments -
- --------------------------------------------------------------------------------
Professional Fees
- --------------------------------------------------------------------------------
Amounts Due to Insiders*
- --------------------------------------------------------------------------------
Other Postpetition Liabilities - -
(attach schedule)
- --------------------------------------------------------------------------------
TOTAL POSTPETITION LIABILITIES - -
- --------------------------------------------------------------------------------
LIABILITIES SUBJECT TO COMPROMISE
(Pre-Petition)
- --------------------------------------------------------------------------------
Secured Debt - -
- --------------------------------------------------------------------------------
Priority Debt
- --------------------------------------------------------------------------------
Unsecured Debt - -
- --------------------------------------------------------------------------------
TOTAL PRE-PETITION LIABILITIES - -
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
TOTAL LIABILITIES - -
- --------------------------------------------------------------------------------
OWNER EQUITY
- --------------------------------------------------------------------------------
Capital Stock 100.00 100.00
- --------------------------------------------------------------------------------
Additional Paid-In Capital
- --------------------------------------------------------------------------------
Partners' Capital Account - -
- --------------------------------------------------------------------------------
Owner's Equity Account - -
- --------------------------------------------------------------------------------
Retained Earnings - Pre-Petition (360,365.26) (360,365.26)
- --------------------------------------------------------------------------------
Retained Earnings - Postpetition -
- --------------------------------------------------------------------------------
Adjustments to Owner Equity
(attach schedule)
- --------------------------------------------------------------------------------
NET OWNER EQUITY (360,265.26) (360,265.26)
- --------------------------------------------------------------------------------
TOTAL LIABILITIES AND OWNERS' EQUITY (360,265.26) (360,265.26)
- --------------------------------------------------------------------------------
In re: GTS Limited Partner, Inc. Case No. 00-01303 (RRM)
Debtor Reporting Period: April 2000
Balance Sheet - continuation sheet
Book Value at end of Book Value
Assets Current Reporting Month on Petition Date
- --------------------------------------------------------------------------------
Other Current Assets
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Other Assets
- --------------------------------------------------------------------------------
Investment in TGTS Partners (360,265.26) (360,265.26)
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Total (360,265.26) (360,265.26)
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Liabilities and Book Value at end of Book Value
Owners Equity Current Reporting Month on Petition Date
- --------------------------------------------------------------------------------
Other Postpetition
Liabilities
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Total - -
- --------------------------------------------------------------------------------
Adjustments to
Owner's Equity
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Postpetition Contributions
(Distributions) (Draws)
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
In re: GTS Limited Partner, Inc. Case No. 00-01303 (RRM)
Debtor Reporting Period: April 2000
STATUS OF POSTPETITION TAXES
Beginning Amount Ending
Tax Withheld or Amount Date Check No. Tax
Liability Accrued Paid Paid or EFT Liability
- --------------------------------------------------------------------------------
Federal
- --------------------------------------------------------------------------------
Withholding - - - -
- --------------------------------------------------------------------------------
FICA-Employee - - - -
- --------------------------------------------------------------------------------
FICA-Employer - - - -
- --------------------------------------------------------------------------------
Unemployment - - - -
- --------------------------------------------------------------------------------
Income - - - -
- --------------------------------------------------------------------------------
Other:
_____________ - - - -
- --------------------------------------------------------------------------------
Total Federal
Taxes - - - -
- --------------------------------------------------------------------------------
State and Local
- --------------------------------------------------------------------------------
Withholding - - - -
- --------------------------------------------------------------------------------
Sales - - - -
- --------------------------------------------------------------------------------
Excise - - - -
- --------------------------------------------------------------------------------
Unemployment - - - -
- --------------------------------------------------------------------------------
Real Property - - - -
- --------------------------------------------------------------------------------
Personal Property - - - -
- --------------------------------------------------------------------------------
Other:
_____________ - - - -
- --------------------------------------------------------------------------------
Total State and
Local Taxes - - - -
- --------------------------------------------------------------------------------
Total Taxes - - - -
- --------------------------------------------------------------------------------
SUMMARY OF UNPAID POSTPETITION DEBTS
Attach aged listing of accounts payable
Number of Days Past Due
----------------------------------------------------------
Current 0-30 31-60 61-90 Over 90 Total
- --------------------------------------------------------------------------------
Accounts Payable - -
- --------------------------------------------------------------------------------
Wages Payable - -
- --------------------------------------------------------------------------------
Taxes Payable - -
- --------------------------------------------------------------------------------
Rent/Leases-
Building - - -
- --------------------------------------------------------------------------------
Rent/Leases-
Equipment - -
- --------------------------------------------------------------------------------
Secured Debt/
Adequate
Protection
Payments - -
- --------------------------------------------------------------------------------
Professional Fees - -
- --------------------------------------------------------------------------------
Amounts Due to
Insiders* - -
- --------------------------------------------------------------------------------
Other: Interest on
Tandem Warrants - -
- --------------------------------------------------------------------------------
Other:
______________ - -
- --------------------------------------------------------------------------------
Total Postpetition
Debts - - - - - -
- --------------------------------------------------------------------------------
Explain how and when the Debtor intends to pay any past-due postpetition debts
In re: GTS Limited Partner, Inc. Case No. 00-01303 (RRM)
Debtor Reporting Period: April 2000
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
Accounts Receivable Reconciliation Amount
- --------------------------------------------------------------------------------
Total Accounts Receivable at the
beginning of the reporting period -
- --------------------------------------------------------------------------------
Add: Amounts billed during the period -
- --------------------------------------------------------------------------------
Less: Amounts collected during the period -
- --------------------------------------------------------------------------------
Total Accounts Receivable at the
end of the reporting period -
- --------------------------------------------------------------------------------
Accounts Receivable Aging Amount
- --------------------------------------------------------------------------------
0-30 days old -
- --------------------------------------------------------------------------------
31-60 days old -
- --------------------------------------------------------------------------------
61-90 days old
- --------------------------------------------------------------------------------
Total Accounts Receivable -
- ------------------------------------------------------------------------------
Amount considered uncollectible (Bad Debt)
- ------------------------------------------------------------------------------
Accounts Receivable (Net) -
- ------------------------------------------------------------------------------
DEBTOR QUESTIONNAIRE
Must be completed each month Yes No
- --------------------------------------------------------------------------------
1. Have any assets been sold or transferred outside the No
normal course of business this reporting period?
If yes, provide an explanation below.
- --------------------------------------------------------------------------------
2. Have any funds been disbursed from any account other N/A
than a debtor in possession account this reporting period?
If yes, provide an explanation below.
- --------------------------------------------------------------------------------
3. Have all postpetition tax returns been timely filed? Yes
If no, provide an explanation below.
- --------------------------------------------------------------------------------
4. Are workers compensation, general liability and N/A
other necessary insurance coverages in effect?
If no, provide an explanation below.
- --------------------------------------------------------------------------------
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: The GTS Partner, Inc. Case No. 00-01304 (RRM)
Debtor Reporting Period: Apr-00
MONTHLY OPERATING REPORT
File report and attachments with Court and submit copy to United States Trustee
within 15 days after order for relief
Certificates of insurance must name United States Trustees as a party to be
notified in the event of policy cancellation. Bank accounts and checks must bear
the name of Debtor, the case number, and the designation "Debtor in Possession"
Examples of acceptable evidence of Debtor in Possession Bank accounts include
voided checks, copy of bank deposit agreement/certificate of authority,
signature card, and/or corporate checking resolution.
Document Explanation
REQUIRED DOCUMENTS Attached Attached
- --------------------------------------------------------------------------------
12-Month Cash Flow Projection (Form IR-1) N/A
- --------------------------------------------------------------------------------
Certificates of Insurance:
- --------------------------------------------------------------------------------
Workers Compensation N/A
- --------------------------------------------------------------------------------
Property N/A
- --------------------------------------------------------------------------------
General Liability N/A
- --------------------------------------------------------------------------------
Vehicle N/A
- --------------------------------------------------------------------------------
Other:________________ N/A
- --------------------------------------------------------------------------------
Evidence of Debtor in Possession Bank Accounts
- --------------------------------------------------------------------------------
Tax Escrow Account N/A
- --------------------------------------------------------------------------------
General Operating Account N/A
- --------------------------------------------------------------------------------
Other: Expense & A/P Trade Account N/A
- --------------------------------------------------------------------------------
Other: Concentration Account N/A
- --------------------------------------------------------------------------------
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and
the attached documents are true and correct to the best of my knowledge and
belief.
/s/ Cheryl A. Taylor 5/19/2000
- -------------------------------------- Date
Signature of Debtor
5/19/2000
- -------------------------------------- Date
Signature of Joint Debtor
/s/ Cheryl A. Taylor 5/19/2000
- -------------------------------------- Date
Signature of Authorized
Individual*
Cheryl A. Taylor Vice President - Finance & Administration
- -------------------------------------- Title of Authorized Individual
Printed Name of Authorized Individual
* Authorized individual must be an officer, director or shareholder if Debtor is
a corporation; a partner if Debtor is a partnership; a manager if Debtor is a
limited liability company.
In re: The GTS Partner, Inc. Case No. 00-01304 (RRM)
Debtor
CASH FLOW PROJECTIONS FOR THE 12 MONTH PERIOD: ___________________________
through __________________________
Month Month Month Month Month Month Month Month Month Month Month Total
-------------------------------------------------------------------------------------------------------------
Cash Beginning
of Month
- ---------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ---------------------------------------------------------------------------------------------------------------------------
CASH SALES
- ---------------------------------------------------------------------------------------------------------------------------
ACCOUNTS
RECEIVABLE
- ---------------------------------------------------------------------------------------------------------------------------
LOANS AND
ADVANCES
- ---------------------------------------------------------------------------------------------------------------------------
SALE OF
ASSETS
- ---------------------------------------------------------------------------------------------------------------------------
OTHER
(ATTACH LIST)
- ---------------------------------------------------------------------------------------------------------------------------
TOTAL
RECEIPTS
DISBURSEMENTS
- ---------------------------------------------------------------------------------------------------------------------------
NET PAYROLL
- ---------------------------------------------------------------------------------------------------------------------------
PAYROLL TAXES
- ---------------------------------------------------------------------------------------------------------------------------
SALES, USE,
AND OTHER
TAXES
- ---------------------------------------------------------------------------------------------------------------------------
INVENTORY
PURCHASES
- ---------------------------------------------------------------------------------------------------------------------------
SECURED/RENTAL/LEASES
- ---------------------------------------------------------------------------------------------------------------------------
INSURANCE
- ---------------------------------------------------------------------------------------------------------------------------
ADMINISTRATIVE
& SELLING
- ---------------------------------------------------------------------------------------------------------------------------
OTHER
(ATTACH LIST)
- ---------------------------------------------------------------------------------------------------------------------------
PROFESSIONAL
FEES
- ---------------------------------------------------------------------------------------------------------------------------
U.S. TRUSTEE
FEES
- ---------------------------------------------------------------------------------------------------------------------------
COURT COSTS
- ---------------------------------------------------------------------------------------------------------------------------
TOTAL
DISBURSEMENTS
- ---------------------------------------------------------------------------------------------------------------------------
NET CASH FLOW
(RECEIPTS
LESS
DISBURSEMNTS)
- ---------------------------------------------------------------------------------------------------------------------------
Cash End of
Month
- ---------------------------------------------------------------------------------------------------------------------------
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: The GTS Partner, Inc. Case No. 00-01304 (RRM)
Debtor Reporting Period: Apr-00
MONTHLY OPERATING REPORT
File with Court and submit copy to United States Trustee within 20 days after
end of month
Submit copy of report to any official committee appointed in the case.
REQUIRED DOCUMENTS Form No. Document Explanation
Attached Attached
- --------------------------------------------------------------------------------
Schedule of Cash Receipts
and Disbursements MOR-1 N/A
- --------------------------------------------------------------------------------
Bank Reconciliation (or
copies of Debtor's bank
reconciliations) MOR-1(CONT) N/A
- --------------------------------------------------------------------------------
Copies of bank statements N/A
- --------------------------------------------------------------------------------
Cash disbursements journals N/A
- --------------------------------------------------------------------------------
Statement of Operations MOR-2 N/A
- --------------------------------------------------------------------------------
Balance Sheet MOR-3 Attached
- --------------------------------------------------------------------------------
Status of Postpetition Taxes MOR-4 N/A
- --------------------------------------------------------------------------------
Copies of IRS Form 6123
or payment receipt N/A
- --------------------------------------------------------------------------------
Copies of tax returns filed
during reporting period N/A
- --------------------------------------------------------------------------------
Summary of Unpaid Postpetition
Debts MOR-4 N/A
- --------------------------------------------------------------------------------
Listing of aged accounts payable N/A
- --------------------------------------------------------------------------------
Accounts Receivable Reconciliation
and Aging MOR-5 N/A
- --------------------------------------------------------------------------------
Debtor Questionnaire MOR-5 Included
- --------------------------------------------------------------------------------
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and
the attached documents are true and correct to the best of my knowledge and
belief.
/s/ Cheryl A. Taylor 5/19/2000
- -------------------------------------- Date
Signature of Debtor
5/19/2000
- -------------------------------------- Date
Signature of Joint Debtor
/s/ Cheryl A. Taylor 5/19/2000
- -------------------------------------- Date
Signature of Authorized
Individual*
Cheryl A. Taylor Vice President - Finance & Administration
- -------------------------------------- Title of Authorized Individual
Printed Name of Authorized Individual
* Authorized individual must be an officer, director or shareholder if Debtor is
a corporation; a partner if Debtor is a partnership; a manager if Debtor is a
limited liability company.
In re: The GTS Partner, Inc. Case No. 00-01304 (RRM)
Debtor Reporting Period: Apr-00
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
CUMULATIVE FILING TO DATE
- --------------------------------------------------------------------------------------------------------------
OPER A/P TRADE EXPENSE CONCENTRATION ACTUAL PROJECTED ACTUAL PROJECTED
- --------------------------------------------------------------------------------------------------------------
CASH BEGINNING
OF MONTH - - - - -
- ----------------------------------------------------------------------------------------------------------
RECEIPTS
- ----------------------------------------------------------------------------------------------------------
CASH SALES -
- ----------------------------------------------------------------------------------------------------------
ACCOUNTS RECEIVABLE -
- ----------------------------------------------------------------------------------------------------------
LOANS AND ADVANCES -
- ----------------------------------------------------------------------------------------------------------
SALE OF ASSETS -
- ----------------------------------------------------------------------------------------------------------
OTHER (ATTACH LIST) -
- ----------------------------------------------------------------------------------------------------------
TRANSFERS
(FROM DIP ACCTS) -
- ----------------------------------------------------------------------------------------------------------
-
- ----------------------------------------------------------------------------------------------------------
TOTAL RECEIPTS - - - - -
- ----------------------------------------------------------------------------------------------------------
DISBURSEMENTS
- ----------------------------------------------------------------------------------------------------------
NET PAYROLL -
- ----------------------------------------------------------------------------------------------------------
PAYROLL TAXES -
- ----------------------------------------------------------------------------------------------------------
SALES, USE &
OTHER TAXES -
- ----------------------------------------------------------------------------------------------------------
INVENTORY PURCHASES -
- ----------------------------------------------------------------------------------------------------------
SECURED/RENTAL/LEASES -
- ----------------------------------------------------------------------------------------------------------
INSURANCE -
- ----------------------------------------------------------------------------------------------------------
ADMINISTRATIVE -
- ----------------------------------------------------------------------------------------------------------
SELLING -
- ----------------------------------------------------------------------------------------------------------
OTHER
(ATTACH LIST) -
- ----------------------------------------------------------------------------------------------------------
-
- ----------------------------------------------------------------------------------------------------------
OWNER DRAW* -
- ----------------------------------------------------------------------------------------------------------
TRANSFERS (TO DIP ACCTS) -
- ----------------------------------------------------------------------------------------------------------
-
- ----------------------------------------------------------------------------------------------------------
PROFESSIONAL FEES -
- ----------------------------------------------------------------------------------------------------------
U.S. TRUSTEE QUARTERLY FEES -
- ----------------------------------------------------------------------------------------------------------
COURT COSTS -
- ----------------------------------------------------------------------------------------------------------
TOTAL
DISBURSEMENTS - - - - -
- ----------------------------------------------------------------------------------------------------------
NET CASH FLOW - - - - -
(RECEIPTS LESS
DISBURSEMNTS)
- ----------------------------------------------------------------------------------------------------------
CASH - END
OF MONTH - - - - -
- ----------------------------------------------------------------------------------------------------------
THE FOLLOWING SECTION MUST BE COMPLETED
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY
FEES: (FROM CURRENT MONTH ACTUAL COLUMN)
- ----------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS -
- ----------------------------------------------------------------------------------------------------------
LESS: TRANSFERS TO DEBTOR IN POSSESSION -
ACCOUNTS
- ----------------------------------------------------------------------------------------------------------
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE -
SOURCES (ie. from escrow accounts)
- ----------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FOR CALCULATING U.S. -
TRUSTEE QUARTERLY FEES --------------------------
In re: The GTS Partner, Inc. Case No. 00-01304 (RRM)
Debtor Reporting Period: Apr-00
BANK RECONCILIATIONS
Continuation Sheet for MOR-1
A bank reconciliation must be included for each bank account. The debtor's bank
reconciliations may be substituted for this page
OPERATING A/P TRADE EXPENSE CONCENTRATION
- --------------------------------------------------------------------------------
BALANCE PER BOOKS - - - -
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
BANK BALANCE
- --------------------------------------------------------------------------------
(+) DEPOSITS IN TRANSIT
- --------------------------------------------------------------------------------
(-) OUTSTANDING CHECKS
- --------------------------------------------------------------------------------
OTHER
- --------------------------------------------------------------------------------
ADJUSTED BANK BALANCE - - - -
- --------------------------------------------------------------------------------
*Adjusted Bank Balance must
equal balance per books
- --------------------------------------------------------------------------------
DEPOSITS
IN TRANSIT Date Amount Date Amount Date Amount Date Amount
----------------------------------------------------------------------
----------------------------------------------------------------------
----------------------------------------------------------------------
----------------------------------------------------------------------
----------------------------------------------------------------------
----------------------------------------------------------------------
CHECKS
OUTSTANDING Ch# Amount Ch# Amount Ch# Amount Ch# Amount
---------------------------------------------------------------------
List
Attached
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
OTHER:
________________________________________________________________________________
________________________________________________________________________________
In re: The GTS Partner, Inc. Case No. 00-01304 (RRM)
Debtor Reporting Period: April 2000
STATEMENT OF OPERATIONS
(Income Statement)
Cumulative
REVENUES Month Filing to Date
- --------------------------------------------------------------------------------
Gross Revenues - -
- --------------------------------------------------------------------------------
Less: Returns and Allowances - -
- --------------------------------------------------------------------------------
Net Revenue - -
- --------------------------------------------------------------------------------
COST OF GOODS SOLD
- --------------------------------------------------------------------------------
Beginning Inventory - -
- --------------------------------------------------------------------------------
Add: Purchases - -
- --------------------------------------------------------------------------------
Add: Cost of Labor - -
- --------------------------------------------------------------------------------
Add: Other Costs (attach schedule) - -
- --------------------------------------------------------------------------------
Less: Ending Inventory - -
- --------------------------------------------------------------------------------
Cost of Goods Sold - -
- --------------------------------------------------------------------------------
Gross Profit - -
- --------------------------------------------------------------------------------
OPERATING EXPENSES
- --------------------------------------------------------------------------------
Advertising - -
- --------------------------------------------------------------------------------
Auto and Truck Expense -
- --------------------------------------------------------------------------------
Bad Debts -
- --------------------------------------------------------------------------------
Contributions -
- --------------------------------------------------------------------------------
Employee Benefits Program - -
- --------------------------------------------------------------------------------
Insider Compensation* - -
- --------------------------------------------------------------------------------
Insurance - -
- --------------------------------------------------------------------------------
Management Fees/Bonuses
- --------------------------------------------------------------------------------
Office Expense -
- --------------------------------------------------------------------------------
Pension and Profit-Sharing Plans -
- --------------------------------------------------------------------------------
Repairs and Maintenance - -
- --------------------------------------------------------------------------------
Rent and Lease Expense - -
- --------------------------------------------------------------------------------
Salaries/Commissions/Fees - -
- --------------------------------------------------------------------------------
Supplies - -
- --------------------------------------------------------------------------------
Taxes - Payroll - -
- --------------------------------------------------------------------------------
Taxes - Real Estate - -
- --------------------------------------------------------------------------------
Taxes - Other - -
- --------------------------------------------------------------------------------
Travel and Entertainment - -
- --------------------------------------------------------------------------------
Utilities - -
- --------------------------------------------------------------------------------
Other (attach schedule) - -
- --------------------------------------------------------------------------------
Total Operating Expenses
Before Depreciation - -
- --------------------------------------------------------------------------------
Depreciation/Depletion/Amortization - -
- --------------------------------------------------------------------------------
Profit (Loss) Before Other Income & Expenses - -
- --------------------------------------------------------------------------------
OTHER INCOME AND EXPENSES
- --------------------------------------------------------------------------------
Other Income (attach schedule) - -
- --------------------------------------------------------------------------------
Interest Expense - -
- --------------------------------------------------------------------------------
Other Expense (attach schedule) - -
- --------------------------------------------------------------------------------
REORGANIZATION ITEMS
- --------------------------------------------------------------------------------
Professional Fees - -
- --------------------------------------------------------------------------------
U.S. Trustee Quarterly Fees -
- --------------------------------------------------------------------------------
Interest Earned on Accumulated Cash from
Chapter 11 (see continuation sheet) -
- --------------------------------------------------------------------------------
Gain (Loss) from Sale of Equipment - -
- --------------------------------------------------------------------------------
Other Reorganization Expenses
(attach schedule) - -
- --------------------------------------------------------------------------------
Total Reorganization Expenses - -
- --------------------------------------------------------------------------------
Income Taxes - -
- --------------------------------------------------------------------------------
Net Profit (Loss) - -
- --------------------------------------------------------------------------------
In re: The GTS Partner, Inc. Case No. 00-01304 (RRM)
Debtor Reporting Period: April 2000
STATEMENT OF OPERATIONS - continuation sheet
BREAKDOWN OF OTHER ACTIVITY MONTH CUMULATIVE
- --------------------------------------------------------------------------------
Other Costs
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Other Operational Expenses
- --------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Total - -
- -------------------------------------------------------------------------------
Other Income
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Total - -
- -------------------------------------------------------------------------------
Other Expense
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Other Reorganization Expenses
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
In re: The GTS Partner, Inc. Case No. 00-01304 (RRM)
Debtor Reporting Period: April 2000
BALANCE SHEET
ASSETS BOOK VALUE AT END OF CURRENT BOOK VALUE ON
REPORTING MONTH PETITION DATE
- --------------------------------------------------------------------------------
CURRENT ASSETS
- --------------------------------------------------------------------------------
Unrestricted Cash and Equivalents 176.00 176.00
- --------------------------------------------------------------------------------
Restricted Cash and Cash Equivalents
(see continuation sheet)
- --------------------------------------------------------------------------------
Accounts Receivable (Net) - -
- --------------------------------------------------------------------------------
Notes Receivable
- --------------------------------------------------------------------------------
Inventories - -
- --------------------------------------------------------------------------------
Prepaid Expenses
- --------------------------------------------------------------------------------
Professional Retainers - -
- --------------------------------------------------------------------------------
Other Current Assets (attach schedule)
- --------------------------------------------------------------------------------
TOTAL CURRENT ASSETS 176.00 176.00
- --------------------------------------------------------------------------------
PROPERTY AND EQUIPMENT
- --------------------------------------------------------------------------------
Real Property and Improvements - -
- --------------------------------------------------------------------------------
Machinery and Equipment
- --------------------------------------------------------------------------------
Furniture, Fixtures and Office Equipment - -
- --------------------------------------------------------------------------------
Leasehold Improvements
- --------------------------------------------------------------------------------
Vehicles
- --------------------------------------------------------------------------------
Less Accumulated Depreciation - -
- --------------------------------------------------------------------------------
TOTAL PROPERTY AND EQUIPMENT - -
- --------------------------------------------------------------------------------
OTHER ASSETS
- --------------------------------------------------------------------------------
Loans to Insiders *
- --------------------------------------------------------------------------------
Other Assets (attach schedule) (1,150,464.06) (1,150,464.06)
- --------------------------------------------------------------------------------
TOTAL OTHER ASSETS (1,150,464.06) (1,150,464.06)
- --------------------------------------------------------------------------------
TOTAL ASSETS (1,150,288.06) (1,150,288.06)
- --------------------------------------------------------------------------------
LIABILITIES AND OWNER EQUITY BOOK VALUE AT END OF CURRENT BOOK VALUE ON
REPORTING MONTH PETITION DATE
- --------------------------------------------------------------------------------
LIABILITIES NOT SUBJECT TO
COMPROMISE (Postpetition)
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Merchandise Payable -
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Accounts Payable - -
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Taxes Payable (refer to FORM MOR-4) - -
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Wages Payable - -
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Notes Payable - -
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Rent/Leases - Building/Equipment
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Secured Debt/Adequate Protection Payments -
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Professional Fees
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Amounts Due to Insiders*
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Other Postpetition Liabilities
(attach schedule) - -
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TOTAL POSTPETITION LIABILITIES - -
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LIABILITIES SUBJECT TO COMPROMISE
(Pre-Petition)
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Secured Debt - -
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Priority Debt
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Unsecured Debt - -
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TOTAL PRE-PETITION LIABILITIES - -
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TOTAL LIABILITIES - -
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OWNER EQUITY
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Capital Stock 190.00 190.00
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Additional Paid-In Capital (13,159.28) (13,159.28)
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Partners' Capital Account - -
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Owner's Equity Account -
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Retained Earnings - Pre-Petition (1,137,318.78) (1,137,318.78)
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Retained Earnings - Postpetition -
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Adjustments to Owner Equity
(attach schedule)
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NET OWNER EQUITY (1,150,288.06) (1,150,288.06)
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TOTAL LIABILITIES AND OWNERS' EQUITY (1,150,288.06) (1,150,288.06)
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In re: The GTS Partner, Inc. Case No. 00-01304 (RRM)
Debtor Reporting Period: April 2000
Balance Sheet - continuation sheet
Book Value at end of Book Value
Assets Current Reporting Month on Petition Date
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Other Current Assets
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Other Assets
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Investment in TGTS Partners (790,098.80) (790.098.80)
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Investment in GTS Ltd.
Ptr. Inc. (360,365.26) (360,365.26)
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Total (1,150,464.06) (1,150,464.06)
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Liabilities and Book Value at end of Book Value
Owners Equity Current Reporting Month on Petition Date
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Other Postpetition
Liabilities
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Total - -
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Adjustments to
Owner's Equity
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Postpetition Contributions
(Distributions) (Draws)
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In re: The GTS Partner, Inc. Case No. 00-01304 (RRM)
Debtor Reporting Period: April 2000
STATUS OF POSTPETITION TAXES
Beginning Amount Ending
Tax Withheld or Amount Date Check No. Tax
Liability Accrued Paid Paid or EFT Liability
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Federal
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Withholding - - - -
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FICA-Employee - - - -
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FICA-Employer - - - -
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Unemployment - - - -
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Income - - - -
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Other:
_____________ - - - -
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Total Federal
Taxes - - - -
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State and Local
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Withholding - - - -
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Sales - - - -
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Excise - - - -
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Unemployment - - - -
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Real Property - - - -
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Personal Property - - - -
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Other:
_____________ - - - -
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Total State and
Local Taxes - - - -
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Total Taxes - - - -
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SUMMARY OF UNPAID POSTPETITION DEBTS
Attach aged listing of accounts payable
Number of Days Past Due
----------------------------------------------------------
Current 0-30 31-60 61-90 Over 90 Total
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Accounts Payable - -
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Wages Payable - -
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Taxes Payable - -
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Rent/Leases-
Building - - -
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Rent/Leases-
Equipment - -
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Secured Debt/
Adequate
Protection
Payments - -
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Professional Fees - -
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Amounts Due to
Insiders* - -
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Other: Interest on
Tandem Warrants - -
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Other:
______________ - -
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Total Postpetition
Debts - - - - - -
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Explain how and when the Debtor intends to pay any past-due postpetition debts
In re: The GTS Partner, Inc. Case No. 00-01304 (RRM)
Debtor Reporting Period: April 2000
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
Accounts Receivable Reconciliation Amount
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Total Accounts Receivable at the
beginning of the reporting period -
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Add: Amounts billed during the period -
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Less: Amounts collected during the period -
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Total Accounts Receivable at the
end of the reporting period -
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Accounts Receivable Aging Amount
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0-30 days old -
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31-60 days old -
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61-90 days old
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Total Accounts Receivable -
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Amount considered uncollectible (Bad Debt)
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Accounts Receivable (Net) -
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DEBTOR QUESTIONNAIRE
Must be completed each month Yes No
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1. Have any assets been sold or transferred outside the No
normal course of business this reporting period?
If yes, provide an explanation below.
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2. Have any funds been disbursed from any account other N/A
than a debtor in possession account this reporting period?
If yes, provide an explanation below.
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3. Have all postpetition tax returns been timely filed? Yes
If no, provide an explanation below.
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4. Are workers compensation, general liability and N/A
other necessary insurance coverages in effect?
If no, provide an explanation below.
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