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OFFICE OF THE UNITED STATES TRUSTEE
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IN RE: ) DEBTOR IN POSSESSION OPERATING REPORT
) -------------------------------------
MATTHEWS STUDIO EQUIPMENT GROUP & SUBSIDIARIES ) REPORT NUMBER 20 Page 1 of 3
) FOR THE PERIOD FROM: November 1, 2001
) TO: November 30, 2001
) -----------------------------------------------------------
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CHAPTER 11 CASE NO. SV00-13471KL )
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SEE ATTACHED
1. Profit and Loss Statement
A. Related to Business Operations:
Gross Sales -------------
Less Sales Returns and Discounts -------------
Net Sales -
--------------
Less: Cost of Goods Sold
Beginning Inventory at Cost -
-------------
Add: Purchases -------------
Less: Ending Inventory at Cost -
-------------
Cost of Goods Sold -
--------------
Gross Profit -
-------------
Other Operating Revenue (Specify) -
-------------
Less: Operating Expenses
Officer Compensation -------------
Salaries & Wages - Other Employees -------------
Total Salaries & Wages -
--------------
Employee Benefits -
--------------
Payroll Taxes -------------
Real Estate Taxes (Personal Property Tax) -------------
Federal and State Income Taxes -------------
Total Taxes -
--------------
Rent and Lease Exp. (Real and Personal Property) -
-------------
Interest Expense (Mortgage, Loan, etc.) -
-------------
Insurance -------------
Automobile Expense -------------
Utilities (Gas, Electric, Water, Telephone, etc.) -------------
Depreciation and Amortization -------------
Repairs and Maintenance -------------
Advertising -
-------------
Supplies, Office Expenses, Photocopies, etc. -------------
Bad Debts -
-------------
Miscellaneous Operating Expenses (Specify) -
-----------------------------------
Total Operating Expenses -
-------------
Net Gain/(Loss) from Business Operations -
-------------
B. Not Related to Business Operations
Income:
Interest Income --------------
Other Non-Operating Revenues (Specify) --------------
Gross Proceeds on Sale of Assets -------------
Less: Original Cost of Assets plus Expenses of Sale -------------
Net Gain/(Loss) on Sale of Assets --------------
Total Non-Operating Income -------------
Expenses Not Related to Business Operations:
Legal and Professional Fees --------------
Other Non-Operating Expenses (Specify) --------------
Total Non-Operating Expenses -
-------------
NET INCOME /(LOSS) FOR PERIOD -
=============
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Revised April 1989 OPERATING REPORT UST-4
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MATTHEWS STUDIO EQUIPMENT GROUP & SUBSIDIARIES
Statement of Operations for the Period November 30, 01
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($000's)
REVENUES
Sales -
Rental revenues -
-----
Total revenues -
Cost of goods sold -
Cost of rental operation -
-----
Total cost of sales and rental -
Gross profits -
Selling expense -
General & administration 11
-----
Total operating expenses 11
Operating profit (11)
Depreciation & amortization -
Coporate Interest allocation -
DIP Interest -
Other income & expenses -
-----
Earnings before reorganization items & income tax provision (11)
Reorganization items:
Loss from sales of assets/Closing cost of facility -
Professional fees 65
Provision for rejected executory contracts -
Interest earned on accumulated cash resulting from chapter 11 Proceeding -
-----
Total reorganization items 65
Income(loss) before income tax provision (76)
Income tax (benefits) -
-----
Net income (loss) (76)
=====
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DEBTOR IN POSSESSION OPERATING REPORT NO. 20
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Page 2 of 3
2. Aging of Accounts Payable and Receivable (exclude pre-petition debt from
accounts payable):
-------------------------------------------------
Accounts Payable Accounts Receivable
-------------------------------------------------
Current Under 30 days $0 $ 0
Overdue 31 - 60 days $0 $ 0
Overdue 61 - 90 days $0 $ 0
Overdue 91 - 120 days $0 $ 0
Overdue 121 + days $0 $1,013,328
-------------------------------------------------
Total $0 $1,013,328
-------------------------------------------------
3. Statement of Status of Payments to Secured Creditors and Lessors: N/A
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Post-Petition
Frequency of Payments Not Made
Payments per Amount of -----------------------------
Creditor/Lessor Lease/Contract Each Payment Next Payment Due Number Amount
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4. Tax Liability:
Gross Payroll Expense For Period $0
-------------------
Gross Sales for Period Subject to Sales Tax $0
-------------------
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Post Petition Taxes
Date Paid Amount Paid * Still Owing
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Federal Payroll and Withholding Taxes $0 $0
State Payroll and Withholding Taxes $0 $0
State Sales and Use Tax $0 $0
Real Property Taxes $0 $0
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* Attach photocopies of depository receipts from taxing
authority or financial institution to verify that such
deposits or payments have been made.
5. Insurance Coverage
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Carrier/ Amount of Policy Premium Paid
Agent Coverage Exp. Date Thru Date
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Worker's Compensation
Liability SEE
Fire and Extended Coverage *NOTE
Property BELOW
Theft
Life (Beneficiary:________________)
Vehicle
Other
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*NOTE: Insurasnce coverage expired 10/1/01. All the Estates'
fixed assets and equipment have been sold and all
employees have been terminated. The only remaining
assets in the estate include cash, receivables and some
causes of action for preference recoveries. The need for
Property, Casualty, General Liability and Workers'
Compensation insurance coverage no longer exists.
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DEBTOR IN POSSESSION OPERATING REPORT NO. 20
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Page 3 of 3
6. Questions:
A. Has the Debtor provided to any officers, directors, shareholders, or
other principals compensation without the approval of the Office of the
United States Trustee?
_____ : Yes Explain: _____________________________________________
X : No
B. Has the Debtor, subsequent to the filing of the petition made any
payments on its pre-petition unsecured debt, except as have been
authorized by the Court?
_____ : Yes Explain: _____________________________________________
X : No
7. Statement of Unpaid Professional Fees (Post-Petition Only):
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Type Post-Petition
Name of Professional Professional Unpaid Total**
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Crossroads, LLC Turnaround management - Estimated
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George Nicolais Financial advisor - Estimated
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Klee Tuchin Bogdanoff & Stern Counsel - Estimated
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Latham Watkins Counsel -
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Stutman Treister Counsel - Estimated
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Imperial Capital, LLC Financial advisor -
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Holland & Knight Counsel - Estimated
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Ernst & Young Independent Auditors -
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**NOTE: Professional fees are paid by Matthews Studio Equipment Group
for all the subsidiaries.
8. Narrative Report of Significant Events And Events Out Of The Ordinary Course
Of Business:
N/A
9. Quarterly Fees: (This Fee must be paid to the United States Trustee every
calendar quarter)
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Quarterly
Quarterly Disbursements Quarterly Quarterly
Period Ending for Quarter Fee Date Paid Amount Paid Check No. Fee Still Owing
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6/30/2000 $ 7,108,942.00 $24,500.00 7/31/2000 $24,500.00 2408
9/30/2000 $ 7,208,343.00 $21,500.00 10/24/2000 $21,500.00 1395
12/31/2000 $ 7,053,994.00 $21,000.00 1/26/2001 $21,000.00 1543
3/31/2001 $ 5,307,500.00 $18,250.00 4/27/2001 $18,250.00 1643
6/30/2001 $11,171,217.00 $16,250.00 7/26/2001 $16,250.00 1710
9/30/2001 $ 793,270.00 $ 6,500.00 10/23/2001 $ 6,500.00 1767
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I, Ellen Gordon, Estate Representative, declare under penalty of perjury that
the information contained in the above Debtor in Possession Operating Report is
true and complete to the best of my knowledge.
Dated:_________________ Signed: ____________________________________________
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OFFICE OF THE UNITED STATES TRUSTEE
PAGE 1
CENTRAL DISTRICT OF CALIFORNIA
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IN RE: ) DEBTOR IN POSSESSION INTERIM STATEMENT
)
Matthews Studio Equipment Group ) STATEMENT NO. 20
) FOR THE PERIOD FROM: 11/01/01
DEBTOR ) TO: 11/30/01
)
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- --------------------------------------------------------- -----------------------------------------------------------------------
CHAPTER 11 CASE NO. SV 00 13471 KL ) General Concentration Payroll Tax Pre-Chapter
- --------------------------------------------------------- Account Account Account Account Payroll
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CASH ACTIVITY ANALYSIS
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A. Total Receipts Per All Prior Interim Statements $72,983,897.27 $44,075,036.25 $294,606.93 $0.00 $5,853,490.72
B. Less: Total Disbursements Per All Prior $72,983,897.27 $43,456,217.98 $294,606.93 $0.00 $5,847,583.77
Interim Statements
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C. Beginning Balance $0.00 $618,818.27 $0.00 $0.00 $5,906.95
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D. Receipts During Current Period
Per Attached Schedule - (Not Filed with Form 8K) $702,374.11 $39,688.07 $0.00 $0.00 -
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E. Balance Available $702,374.11 $658,506.34 $0.00 $0.00 $5,906.95
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F. Less: Disbursements During Period
Per Attached Schedule - (Not Filed with Form 8K) $670,407.90 $658,506.34 $0.00 $0.00 -
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G. Ending Balance $31,966.21 $0.00 $0.00 $0.00 $5,906.95
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OFFICE OF THE UNITED STATES TRUSTEE
PAGE 1
CENTRAL DISTRICT OF CALIFORNIA
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IN RE: ) DEBTOR IN POSSESSION INTERIM STATEMENT
)
Matthews Studio Equipment Group ) STATEMENT NO. 20
) FOR THE PERIOD FROM: 11/01/01
DEBTOR ) TO: 11/30/01
)
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CHAPTER 11 CASE NO. SV 00 13471 KL ) Investment Professional CD CD CD
- --------------------------------------------------------- Account Account Account Account Account
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CASH ACTIVITY ANALYSIS
-------------------------------------------------------------------------
A. Total Receipts Per All Prior Interim Statements $4,671,492.25 $3,556,421.24 $730,957.03 $15,000,320.35 $91,367.12
B. Less: Total Disbursements Per All Prior $4,563,170.87 $3,556,421.24 $363,957.03 $14,400,320.35 $0.00
Interim Statements
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C. Beginning Balance $108,321.38 $0.00 $367,000.00 $600,000.00 $91,367.12
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D. Receipts During Current Period
Per Attached Schedule - (Not Filed with Form 8K) 146.64 - 587.67 2,567.12 -
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E. Balance Available $108,468.02 $0.00 $367,587.67 $602,567.12 $91,367.12
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F. Less: Disbursements During Period
Per Attached Schedule - (Not Filed with Form 8K) - - - 41,262.88 -
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G. Ending Balance $108,468.02 $0.00 $367,587.67 $561,304.24 $91,367.12
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OFFICE OF THE UNITED STATES TRUSTEE
PAGE 1
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IN RE: ) DEBTOR IN POSSESSION INTERIM STATEMENT
)
Matthews Studio Equipment Group ) STATEMENT NO. 20
) FOR THE PERIOD FROM: 11/01/01
DEBTOR ) TO: 11/30/01
)
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CHAPTER 11 CASE NO. SV 00 13471 KL ) Investment
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Account
----------------
CASH ACTIVITY ANALYSIS
----------------
A. Total Receipts Per All Prior Interim Statements $145,940.19
B. Less: Total Disbursements Per All Prior $75,117.53
Interim Statements
----------------
C. Beginning Balance $70,822.66
----------------
D. Receipts During Current Period
Per Attached Schedule - (Not Filed with Form 8K) 95.88
----------------
E. Balance Available $70,918.54
----------------
F. Less: Disbursements During Period
Per Attached Schedule - (Not Filed with Form 8K) 37,083.18
----------------
G. Ending Balance $33,835.36
H. ACCOUNT INFORMATION
(1). General Account
(a) City National Bank 4605 Lankershim Blvd. No. Hollywood, Ca
(b) 411952738
(2). Concentration Account
(a) City National Bank 4605 Lankershim Blvd. No. Hollywood, Ca
(b) 411952886
(3). Payroll Account
(a) City National Bank 4605 Lankershim Blvd. No. Hollywood, Ca
(b) 411952800
(4). Tax Account
(a) City National Bank 4605 Lankershim Blvd. No. Hollywood, Ca
(b) 411952851
(5). Pre-Chapter Payroll Account
(a) Western Security Bank 4100 W. Alameda Ave.,Burbank, Ca.
(b) 001064088
(6). Investment Account
(a) City National Bank 4605 Lankershim Blvd. No. Hollywood, Ca
(b) BHS-072281
(7). Professional Account
(a) City National Bank 4605 Lankershim Blvd. No. Hollywood, Ca
(b) 411953459
(8). Pre-August 1st Certificate of of Deposit
(a) City National Bank 4605 Lankershim Blvd. No. Hollywood, Ca
(b) 411958817
(9). Priority Claim Certificate of Deposit
(a) City National Bank 4605 Lankershim Blvd. No. Hollywood, Ca
(b) 411958647
(10). Duke City Preference Reoveries Certificate of Deposit
(a) City National Bank 4605 Lankershim Blvd. No. Hollywood, Ca
(b) 411958630
(11). Claim Objection Certificate of Deposit
(a) City National Bank 4605 Lankershim Blvd. No. Hollywood, Ca.
(b) BHS-158925
I. Other Monies On Hand: None
I, Ellen Gordon, Estate Representative, 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 knowlege:
Dated: Signed:
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