EXHIBIT 99.4
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OFFICE OF THE UNITED STATES TRUSTEE
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Page 1 of 2
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In re: DEBTOR IN POSSESSION INTERIM STATEMENT
PREMIER LASER SYSTEMS, INC. Statement Number: 12
Debtor. For the Period FROM: March 1, 2001
Chapter 11 Case No. SA00-12031RA TO March 31, 2001
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Wells Fargo Wells Fargo Wells Fargo Wells Fargo
Bank Bank Bank Bank
Totals All Certificate General Payroll Money
CASH ACTIVITY ANALYSIS Accounts Of Deposit Account Account Market
--------------- --------------- --------------- --------------- ---------------
A. Total Receipts All Prior Interim Stmts. $27,398,860.93 $ 4,218,331.76 $ 5,668,886.73 $ 5,000.00 $ 621.13
B. Less: Total Disbursements All Prior Stmts 22,069,169.90 100,000.00 4,526,067.88 13,409.26 0.00
Net Transfers Between Accounts 0.00 0.00 (810,671.25) 17,000.00 870,000.00
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C. Beginning Balance (A less B) 5,329,691.23 4,118,331.76 332,147.60 8,590.74 870,621.13
D. Receipts During Current Period 27,493.92 17,026.28 9,371.31 0.00 1,096.33
(See attached for detail) --------------- --------------- --------------- --------------- ---------------
E. Balance Available (C plus D) 5,357,185.15 0.00 341,518.91 8,590.74 871,717.46
F. Less: Disbursements during period 164,811.93 0.00 155,821.10 8,990.83 0.00
Transfers Between Accounts 0.00 0.00 (155,100.00) 4,100.00 149,000.00
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G. Ending Balance (E less F) $ 5,192,373.22 $ 4,135,358.04 $ 32,597.81 $ 3,699.91 $ 1,020,717.46
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H. Depository Information
1. Held Asset Certificate of Deposit Account
Depository Name & Location Wells Fargo Bank, 441 West Whittier Blvd., La Habra, CA 90631
Account Number 200-919-3020 (New Account Opened)
2. General Account
Depository Name & Location Wells Fargo Bank, 441 West Whittier Blvd., La Habra, CA 90631
Account Number 201-191-4462 (New Account Opened)
3. Payroll Account
Depository Name & Location Wells Fargo Bank, 441 West Whittier Blvd., La Habra, CA 90631
Account Number 201-191-4488 (New Account Opened)
4. Money Market Account
Depository Name & Location Wells Fargo Bank, 441 West Whittier Blvd., La Habra, CA 90631
Account Number 200-919-3020 (New Account Opened)
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I, Robert P. Mosier, President, declare under penalty of perjury that the
information contained in the above Debtor In Possession Interim Statement is
true and complete to the best of my knowledge.
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Dated Robert P. Mosier, President, Debtor In Possession
Sheet 1 (4)
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OFFICE OF THE UNITED STATES TRUSTEE
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Page 2 of 2
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In re: DEBTOR IN POSSESSION INTERIM STATEMENT
PREMIER LASER SYSTEMS, INC. Statement Number: 12
Debtor. For the Period FROM: March 1, 2001
Chapter 11 Case No. SA00-12031RA TO March 31, 2001
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CBT Bank CBT Bank CBT Bank CBT Bank
Money Market General Payroll Tax
CASH ACTIVITY ANALYSIS Account Account Account Account
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A. Total Receipts All Prior Interim Statements $ 4,523,661.62 $12,560,832.69 $ 421,327.00 $ 200.00
B. Less: Total Disbursements All Prior Statements 4,522,652.11 12,487,233.67 419,606.98 200.00
Net Transfers Between Accounts (1,009.51) (73,599.02) (1,720.02) 0.00
--------------- --------------- --------------- ---------------
C. Beginning Balance (A less B) (0.00) (0.00) 0.00 0.00
D. Receipts During Current Period 0.00 0.00 0.00 0.00
(See attached for detail) --------------- --------------- --------------- ---------------
E. Balance Available (C plus D) (0.00) (0.00) 0.00 0.00
F. Less: Disbursements during period 0.00 0.00 0.00 0.00
Transfers Between Accounts 0.00 0.00 0.00 0.00
--------------- --------------- --------------- ---------------
G. Ending Balance (E less F) $ (0.00) $ (0.00) $ 0.00 $ 0.00
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H. Depository Information
5. Money Market Account Account Closed and Funds Trnasferred to new Wells Fargo Account
a) Depository Name & Location California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010
b) Account Number 3700011381
6. General Account Account Closed and Funds Trnasferred to new Wells Fargo Account
a) Depository Name & Location California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010
b) Account Number 3700011111
7. Payroll Account Account Closed and Funds Trnasferred to new Wells Fargo Account
a) Depository Name & Location California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010
b) Account Number 3700021509
8. Tax Account Account Closed and Funds Trnasferred to new Wells Fargo Account
a) Depository Name & Location California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010
b) Account Number 3700011031
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I, Robert P. Mosier, President, declare under penalty of perjury that the information contained in the above
Debtor In Possession Interim Statement is true and complete to the best of my knowledge.
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Dated Robert P. Mosier, President, Debtor In Possession
Sheet1 (5)
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In re: DEBTOR IN POSSESSION OPERATING REPORT
PREMIER LASER SYSTEMS, INC. Debtor Report #: 12 Page 1 of 3
1 Argonaut, Suite 201, Aliso Viejo, VA 92656 For the Period FROM: March 1, 2001
SA00-12031RA TO March 31, 2001
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1. Profit and Loss Statement
a. Related to Business Operations:
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Gross Sales/ A/R Collected $ 1,267.26
Less: Sales Returns and Discounts 0.00
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Net Sales $ 1,267.26
Less: Cost of Goods Sold: 0.00
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Gross Profit $ 1,267.26
Less: Operating Expenses:
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Officer Compensation 20,650.00
Salaries and Wages - Other Employees 5,838.52
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Total Salaries and Wages 26,488.52
Employee Benefits and Pensions 139.00 139.00
Payroll Taxes 2,538.79
Real Estate Taxes 0.00
Federal and State Income Taxes 0.00
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Total Taxes 2,538.79
Rent and Lease Expense 1,500.00
Outside Services 83,707.21
Insurance 6,232.97
Security/Alarm 0.00
Utilities (Gas, Electricity, Water, Phone, etc.) 4,088.71
Patent & Securities/Exchange Expenses 3,285.00
Repairs, Maintenance & Gardening 4,043.22
Supplies, Office Exp., Photocopies, etc. 2,830.10
Moving & Storage of Records 14,332.08
Bank Charges 0.00
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Total Other Operating Expenses 120,019.29
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Total Operating Expenses 149,185.60
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NET GAIN/(LOSS) FROM BUSINESS OPERATIONS (147,918.34)
b. Income Not Related to Business Operations:
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Interest Income 18,122.61
Vendor Refunds 52.92
Employee Health Insurance Payments 772.89
Gross Proceeds on Sales of Assets 7,278.24
Less: Orig Cost of Assets + Expenses of Sale 0.00
Net Gain/Loss on Sale of Assets 0.00
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Total Non-Operating Income 26,226.66
Expenses not Related to Business Operations
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UST Quarterly Fees 0.00
Court Approved Professional Fees 0.00
Costs - Fax/Xerox/Postage 0.00
Claims Review 3,626.33
Court Approved Settlements 12,000.00
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Total Non Operating Expenses 15,626.33
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NET INCOME (LOSS) FOR PERIOD $(137,318.01)
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This financial statement has been prepared on the cash basis of accounting. As this is a liquidating case, the
Debtor believes that an accrual based financial statement would be misleading.
Sheet1
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DEBTOR IN POSSESSION OPERATING REPORT NO.: 12 PAGE 2 OF 3
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2. Aging of Accounts Payable and Accounts Receivable (excluding pre-petition payable): SEE ATTACHMENT #1
Accrued Accounts Accounts
Payroll Payable Receivable
------- ------- ----------
Current Under 30 Days $0 $113,854 $0
Overdue 31 - 60 Days $0 $400 $0
Overdue 61 - 90 Days $0 $10,650 $0
Overdue 91 - 120 Days $0 $18,307 $0
Overdue Over 121 Days $0 $23,744 $5,330,306
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TOTAL $0 $166,956 $5,330,306
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3. Statement of Status of Payments to Secured Creditors and Lessors:
Post-Petition
Amount of Payments Not Made
Frequency of Each Next Pay -----------------
Creditor / Lessor Payment Payment Due Number Amount
----------------- ------- ------- -------- ------ ------
SEE ATTACHMENT # 2
4. Tax Liability:
Gross Payroll Expense for Period: $ 8,377.31
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Gross Sales for Period Subject to Sales Tax $0.00
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Date Amount
Paid Paid Post Petition Taxes Still Owing
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*Federal Payroll & Withholding Taxes $2,136.33 None
*State Payroll & Withholding Taxes $402.46
State Sales & Use Taxes $0.00 None
Real Property Taxes $0.00 None
*Premier Laser Systems, Inc. is on full service with ADP Payroll processing. They deduct all payroll taxes
and remit to the correct taxing agency.
Premium
Policy Exp. Paid
5. Insurance Coverage Carrier/Agent Name Amount of Coverage Date Thru Date
------------------ ------------------ ----------- ---------
Workers Compensation HIH/Calco $1M,$1M,$1M 06/01/2001 06/01/2001
Product/Completed Liab. Medmarc/AON $10K ea, $100K agg. 02/28/2002 02/28/2002
Self Ins. Ea. $50K
$200 agg.
Liability Federal Insurance/AON $4M ea, $4M agg 03/01/2001 * 03/01/2001*
Directors & Officers Liab. World Wide Facilities/RLI $5M ea., $5m agg. 01/21/2004 01/21/2004
Fire & Extended Coverage Included in Property Add General
Liability Insurance
Property & Genl Liab. Federal Insurance/AON $1M ea., $2M agg. 03/01/2001 * 03/01/2001*
Theft Federal Insurance/AON $75K & $75K 03/01/2001 * 03/01/2001*
Vehicle (Hired) Federal Insurance/AON $1M 03/01/2001 * 03/01/2001*
*The Liability, Fire & Extended Coverage and Property & General Liability policies are currently being negotiated
and we expect them to bind today (4/13/01) or Monday (4/16/01).
Sheet1 (2)
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DEBTOR IN POSSESSION OPERATING REPORT NO.: 12 PAGE 3 OF 3
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6. Questions:
a. Has the Debtor in Possession provided compensation to any officers,
directors, shareholders or other principals without the approval of the
Office of the United States Trustee?
Yes Explain:
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X No
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b. Has the Debtor in Possession, subsequent to the filing of the petition,
made any payments on its pre-petition unsecured debt, except as have
been authorized by the Court?
Yes Explain:
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X No
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7. Statement of Unpaid Professional Fees (Post-Petition Amounts ONLY): Total
SEE ATTACHED STATEMENT # 3 Post-Petition
Type of Professional Amount
Name of Professional (Attorney, Accountant / etc) Unpaid
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Knobbe, Marten, Olson & Bear Attorney $54,422.71
O'Melveney & Myers Attorney $466,439.47
Winthrop & Couchet Attorney $190,787.76
Squar Milner Rheel & Williamson Accountants $41,287.75
8. Narrative of Report of Significant Events and Events out of the Ordinary Course of Business: (ATTACH
SEPARATE SHEET IF NECESSARY).
SEE ATTACHMENT #4
9. Quarterly Fees:
Total Quarterly
Quarter Disbursements Quarterly Date Amount Check Fee
Ending For Quarter Fee Paid Paid Number Still Owing
------ ----------- --------- ---- ------ ------ -----------
03/31/2000 $69,829 $500 04/27/2000 $500 10035/10038 $0
06/30/2000 $790,305 $3,750 07/19/2000 $3,750 10352 $0
09/30/2000 $683,186 $3,750 10/16/2000 $3,750 10567 $0
12/31/2000 $1,251,798 $5,000 01/04/2001 $5,000 114 $0
I. Robert P. Mosier, President , declare under penalty of perjury that the
information contained in the above Debtor In Possession Operating Report is
true and Complete to the best of my knowledge.
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Dated Robert P. Mosier,
President, Debtor In Possession
Sheet1 (3)
ATTACHMENT # 1
3. STATEMENT OF STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS:
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Frequency Post Petition
of Payments Amount Next Payments Not Made Notes
Creditor/ per Contract/ of Each Payment -------------------------------------------------
Lessor Lease Payment Due Number Amount
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1 William Simmons Monthly 2,000.00 01-Apr 4 month office lease
2 Konica(1) Monthly 217.58 April 1 2,200.00 Fax machine, 2028 copier
3 Konica(1) Monthly 328.31 April 1 7490 Copier
3 Konica(1) Monthly 388.42 May 1 5,000.00 7050 Copier, no stip
5 Pitney Bowes Credit Corporation(1) Quarterly 1,395.00 - Zero owed Equip. retrieved
6 Steelcase Financial Services(4) Monthly 381.94 May 1 2,056.00 Equip. sold to Intralase
7 Dell(1) Monthly 965.83 Zero owed Equip. retrieved
8 Green Tree(1) Monthly 778.23 Zero owed Equip. retrieved, laptops
9 IC Capital(3) Monthly 483.78 May no stip yet.
10 Intelenet Monthly 474.00 April/May 1 505.00 Cancel as of 3/1/01
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(1) Signed Stipulation
(2) Signed Stipulation
(3) O'Melveny handling in court
(4) Under Negotiation
Sheet2
ATTACHMENT # 2
3. STATEMENT OF STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS:
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Frequency Post Petition
of Payments Amount Next Payments Not Made Notes
Creditor/ per Contract/ of Each Payment -------------------------------------------------
Lessor Lease Payment Due Number Amount
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1 William Simmons Monthly 2,000.00 01-Apr 4 month office lease
2 Konica(1) Monthly 217.58 April 1 2,200.00 Fax machine, 2028 copier
3 Konica(1) Monthly 328.31 April 1 7490 Copier
3 Konica(1) Monthly 388.42 May 1 5,000.00 7050 Copier, no stip
5 Pitney Bowes Credit Corporation(1) Quarterly 1,395.00 - Zero owed Equip. retrieved
6 Steelcase Financial Services(4) Monthly 381.94 May 1 2,056.00 Equip. sold to Intralase
7 Dell(1) Monthly 965.83 Zero owed Equip. retrieved
8 Green Tree(1) Monthly 778.23 Zero owed Equip. retrieved, laptops
9 IC Capital(3) Monthly 483.78 May no stip yet.
10 Intelenet Monthly 474.00 April/May 1 505.00 Cancel as of 3/1/01
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(1) Signed Stipulation
(2) Signed Stipulation
(3) O'Melveny handling in court
(4) Under Negotiation
Sheet2
ATTACHMENT #3
March 31, 2001
PROFESSIONALS >120 Days 91-120 Days 61-90 Days 31-60 Days <30 Days Total
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Squar Milner 19,485.75 15,602.00 6,200.00 41,287.75
Knobbe, Marten, Olson, & Bear 12,291.62 16,287.96 14,592.28 4,510.00 6,740.85 54,422.71
O'Melveny & Myers 190,634.97 75,000.00 94,000.00 57,383.00 49,421.50 466,439.47
Winthrop & Couchot 47,725.87 20,000.00 46,146.40 36,074.00 40,841.49 190,787.76
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Total Professional Fees 250,652.46 111,287.96 174,224.43 113,569.00 103,203.84 752,937.69
Grand Total (Vendors+Professionals) 919,893.28
Sheet1