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Office of the United States Trustee
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In re:
DEBTOR IN POSSESSION OPERATING REPORT
SCOOP, INC., a Delaware corporation
Report Number: 5 Page 1 of 3
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Debtor. For the period FROM: 12/1/98
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TO: 12/31/98
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Chapter 11 Case No: SA 98-20799 RA
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1. Profit and Loss Statement (ACCRUAL BASIS ONLY)
A. Related to Business Operations:
Gross Sales 0.00
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Less: Sales Returns and Discounts
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Net Sales 0.00
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Less: Cost of Goods Sold:
Beginning Inventory at Cost NO INVENTORY N/A
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Add: Purchases N/A
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Less: Ending Inventory at Cost N/A
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Cost of Goods Sold 3,918.00
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Gross Profit (3,918.00)
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Other Operating Revenues (Specify) 0.00
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Less: Operating Expenses:
Officer Compensation 0.00
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Salaries and Wages -- Other Employees (commissions) 257.30
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Total Salaries and Wages 257.30
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Employee Benefits and Pensions 0.00
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Payroll Taxes 16.78
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Real Estate Taxes
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Federal and State Income Taxes
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Total Taxes 16.78
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Rent and Lease Exp. (Real Property and Personal Property)
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Interest Expense (Mortgage, Loan, etc.) 0.00
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Insurance 0.00
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Automobile Expense 0.00
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Utilities (Gas, Electricity, Water, Telephone, etc.) 0.00
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Depreciation and Amortization 0.00
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Repairs and Maintenance 0.00
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Advertising 0.00
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Supplies, Office Expenses, Photocopies, etc. 99.59
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Bad Debts 0.00
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Miscellaneous Operating Expenses (credit card discounts)
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Total Operating Expenses 373.67
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Net Gain/Loss from Business Operations (4,291.67)
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B. Not Related to Business Operations:
Income:
Interest Income 3,183.01
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Other Non-Operating Revenues (Specify)
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Gross Proceeds on Sale of Assets
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Less: Original Cost of Assets plus Expenses of Sale
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Net Gain/Loss of Sale of Assets
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Total Non-Operating Income 3,183.01
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Expenses Not Related to Business Operations:
Legal and Professional Fees (Pachulski, Stand etc.) 65,053.90
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Other Non-Operating Expenses (Bleimeister/Allan) 4,525.36
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Total Non-Operating Expenses 69,579.26
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NET INCOME / LOSS FOR PERIOD (70,687.92)
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Revised April 1989 OPERATING REPORT UST-4
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DEBTOR IN POSSESSION OPERATING REPORT NO: ___2__ Page 2 of 3
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2. Aging of Accounts Payable and Accounts Receivable (exclude pre-petition
accounts payable):
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Accounts Payable Accounts Receivable
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Current Under 30 Days 5,087.11
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Overdue 31 - 60 Days 5,170.54
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Overdue 61 - 90 Days 1,939.00
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Overdue 91 - 120 Days 20,058.90
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Overdue Over 121 Days
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TOTAL 10,257.65 21,997.90
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3. State of Status of Payments to Secured Creditors and Lessors:
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Frequency Post-Petition
of Payments Per Amount Next Payments Not Made*
Creditor/ Contract / Lease of Each Payment
Lessor (i.e., mo., qtr.) Payment Due Number Amount
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Village Plaza Associates mo 7,607 none 2 15,214
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*Explanation for Non-Payment:
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4. Tax Liability:
Gross Payroll Expense for Period: $ 16.78
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Gross Sales for Period Subject to Sales Tax $ 0.00
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Post-Petition
taxes Still
Date Paid Amount Paid* Owing
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Federal Payroll and Withholding Taxes 178.91
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State Payroll and Withholding Taxes 314.16
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State Sales and Use Taxes
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Real Property Taxes
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* Attach photocopies of depository receipts from taxing authorities or
financial institutions to verify that such deposits or payments have
been made.
5. Insurance Coverage:
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Carrier / Amount Policy Premium
Agent of Expiration Paid Through
Name Coverage Date Date
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Worker's Compensation
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Liability
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Fire and Extended Coverage
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Property
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Theft
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Life (Beneficiary: )
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Vehicle
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Other (Specify):
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Director and Officer Insurance Carolina Casualty 3,000,000 4/8/99 4/8/99
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DEBTOR IN POSSESSION OPERATING REPORT NO: _____ 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
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
7. Statement of Unpaid Professional Fees (Post-Petition Amounts ONLY)
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State Type of Total Post-
Professional Petition Amount
Name of Professional (Attorney/Accountant/etc.) Unpaid
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Lobel, Opera & Friedman Attorney 82,808
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8. Narrative Report of Significant Events and Events out of the Ordinary Course
of Business: (ATTACH SEPARATE SHEET IF NECESSARY)
Debtor received draft stock purchase agreement from Infinicom. Debtor
is preparing its plan and disclosure statement and claims analysis.
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9. Quarterly Fees: (This Fee must be paid to the United States Trustee every
calendar quarter)
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Quarterly Total Quarterly
Period Disbursements Quarterly Date Amount Check Fee Still
Ending For Quarter Fee Paid Paid No. Owing
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9/30/98 321,808 3,750.00 11/4/98 3,750.00 1144 0
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I, (Name/Title: Kristy Allan, Chief Accounting Officer), declare under
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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: January 21, 1999
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Debtor in Possession or Trustee