MOR-1 UNITED STATES BANKRUPTCY COURT
CASE NAME: Xetel Corporation PETITION DATE: 10/21/2002
----------------- -----------------
CASE NUMBER: 02-14222 DISTRICT OF TEXAS: Western
----------------- -----------------
PROPOSED PLAN DATE: DIVISION: Austin
----------------- -----------------
MONTHLY OPERATING REPORT SUMMARY FOR MONTH ENDED OCTOBER 26, YEAR 2002
||===========================================|===============|============|============|============|============|============||
|| MONTH | | | | | | ||
||-------------------------------------------|---------------|------------|------------|------------|------------|------------||
|| REVENUES (MOR-6) | 124,469.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 ||
||-------------------------------------------|---------------|------------|------------|------------|------------|------------||
|| INCOME BEFORE INT; DEPREC./TAX (MOR-6) | -221,525.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 ||
||-------------------------------------------|---------------|------------|------------|------------|------------|------------||
|| NET INCOME (LOSS) (MOR-6) | -237,333.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 ||
||-------------------------------------------|---------------|------------|------------|------------|------------|------------||
|| PAYMENTS TO INSIDERS (MOR-9) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 ||
||-------------------------------------------|---------------|------------|------------|------------|------------|------------||
|| PAYMENTS TO PROFESSIONALS (MOR-9) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 ||
||-------------------------------------------|---------------|------------|------------|------------|------------|------------||
|| TOTAL DISBURSEMENTS (MOR-8) | 38,786.45 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 ||
||===========================================|===============|============|============|============|============|============||
***The original of this document must be filed with the United States Bankruptcy Court and a copy must be sent to the United States
Trustee***
|-------------------------------------------|
|REQUIRED INSURANCE MAINTAINED | Are all accounts receivable being collected within terms? No
| AS OF SIGNATURE DATE EXP. | Are all post-petition liabilities, including taxes, being paid within terms? Yes
| DATE | Have any pre-petition liabilities been paid? Yes
|--------------------------- ------------| If so, describe Secured Bank Debt pursuant to court order. Payroll checks cleared
|CASUALTY YES (x) NO ( ) 12/1/2003 | -------------------------------------------------------------------
|LIABILITY YES (x) NO ( ) 12/1/2003 | pursuant to court order.
|VEHICLE YES (x) NO ( ) 12/1/2003 | -----------------------
|WORKER'S YES (x) NO ( ) 3/1/2003 | Are all funds received being deposited into DIP bank accounts? Yes
|OTHER YES ( ) NO ( ) | Were any assets disposed of outside the normal course of business? No
|-------------------------------------------| If so, describe
-------------------------------------------------------------------
Are all U.S. Trustee Quarterly Fee Payments current? Yes
What is the status of your Plan of Reorganization?
----------------------------------
-------------------------------------------------------------------
ATTORNEY NAME: Eric J. Taube I certify under penalty of perjury that the following complete
---------------------------------
FIRM NAME: Hohmann & Taube, L.L.P. Monthly Operating Report (MOR), consisting of MOR-1 through
---------------------------------
ADDRESS: 100 Congress Avenue MOR-9 plus attachments, is true and correct.
---------------------------------
Suite 1600
---------------------------------
CITY, STATE, ZIP: Austin, Texas 78701-4042 SIGNED /s/ Angelo DeCaro TITLE: President and CEO
---------------------------------
TELEPHONE/FAX: (512) 472-5997 (512) 472-5248 (ORIGINAL SIGNATURE)
---------------------------------
Angelo DeCaro 12/6/02
MOR-1 (PRINT NAME OF SIGNATORY) DATE
Revised 07/01/98
CASE NAME: Xetel Corporation
-----------------
CASE NUMBER: 02-14222
------------
COMPARATIVE BALANCE SHEETS
||==================================|=================|=================|==========|==========|==========|==========|==========||
|| ASSETS | FILING DATE* | MONTH | MONTH | MONTH | MONTH | MONTH | MONTH ||
|| | 10/21/2002 | 10/26/2002 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| CURRENT ASSETS | | | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| Cash | 81,502 | 500,354 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| Accounts Receivable, Net | 5,388,318 | 3,166,032 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| Inventory, net | 4,615,164 | 4,218,774 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| Prepaid Expenses | 0 | 275,374 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| Investments | 0 | 0 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| Other | 0 | 32,886 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| TOTAL CURRENT ASSETS | 10,084,984 | 8,193,420 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 ||
||==================================|=================|=================|==========|==========|==========|==========|==========||
|| PROPERTY, PLANT & EQUIP. @ COST | | 19,320,389 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| Less Accumulated Depreciation | | 13,955,785 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| NET BOOK VALUE OF PP & E | 4,817,411 | 5,364,604 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| OTHER ASSETS | | | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| 1. Tax Deposits | | | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| 2. Investments in Subsidiaries | | | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| 3. Electric Deposit | | | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| 4. Deposits | 144,223 | 144,223 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| TOTAL ASSETS | 15,046,618 | 13,702,247 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 ||
||==================================|=================|=================|==========|==========|==========|==========|==========||
* Per Schedules and Statement of Affairs
MOR-2 Revised 07/01/98
Financial Statement Notes:
10/21/02 Gross AR on the Bankruptcy Schedules was $5,388,318. At 10/21/02, the Company had a reserve for bad debt of $1,984,886.
10/21/02 Prepaid expenses and other were not listed on the Bankruptcy Schedules as they had no cash value at 10/21/02.
10/21/02 Property, plant & equipment on the Bankruptcy Schedules does not include equipment under capital leases with a net book
value of $596,236 at 10/21/02.
CASE NAME: Xetel Corporation
---------------------
CASE NUMBER: 02-14222
-------------
COMPARATIVE BALANCE SHEETS
||==================================|=================|=================|==========|==========|==========|==========|==========||
|| LIABILITIES & OWNER'S | FILING DATE* | MONTH | MONTH | MONTH | MONTH | MONTH | MONTH ||
|| EQUITY | 10/21/2002 | 10/26/2002 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| LIABILITIES | | | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| POST-PETITION LIABILITIES(MOR-4) | 0 | 410 | | | | | ||
||==================================|=================|=================|==========|==========|==========|==========|==========||
|| PRE-PETITION LIABILITIES | | | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| Notes Payable - Unsecured | 1,908,794 | 1,908,794 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| Accounts Payable | 17,188,222 | 14,885,233 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| Priority Debt | 1,191,766 | 998,771 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| Federal Income Tax | 0 | 0 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| FICA/Withholding | 0 | 0 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| Capital Leases | 0 | 752,784 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| Other | 0 | 2,886,735 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| TOTAL PRE-PETITION LIABILITIES | 20,288,782 | 21,432,317 | 0 | 0 | 0 | 0 | 0 ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| TOTAL LIABILITIES | 20,288,782 | 21,432,727 | 0 | 0 | 0 | 0 | 0 ||
||==================================|=================|=================|==========|==========|==========|==========|==========||
|| OWNER'S EQUITY (DEFICIT) | | | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| PREFERRED STOCK | 0 | 0 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| COMMON STOCK | 23,314,803 | 23,314,803 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| OTHER | 2,250,983 | | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| RETAINED EARNINGS: | | | | | | | ||
|| Filing Date | -30,807,950 | -30,807,950 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| RETAINED EARNINGS: | | | | | | | ||
|| Post Filing Date | | -237,333 | | | | | ||
||----------------------------------|-----------------|-----------------|----------|----------|----------|----------|----------||
|| TOTAL OWNER'S EQUITY (NET WORTH) | -5,242,164 | -7,730,480 | 0 | 0 | 0 | 0 | 0 ||
||==================================|=================|=================|==========|==========|==========|==========|==========||
|| TOTAL | | | | | | | ||
|| LIABILITIES & | | | | | | | ||
|| OWNERS EQUITY | 15,046,618 | 13,702,247 | 0 | 0 | 0 | 0 | 0 ||
||==================================|=================|=================|==========|==========|==========|==========|==========||
* Per Schedules and Statement of Affairs
MOR-3 Revised 07/01/98
Financial Statement Notes:
10/21/02 Notes Payable are included with Accounts Payable on the Bankruptcy Schedules as unsecured non-priority claims.
10/21/02 Priority Debt includes secured debt of $50,000, disputed property tax claims, other tax claims and certain employee
claims.
10/21/02 Capital Leases were listed on the Bankruptcy Schedules as amount unknown due to the uncertain amount of termination
costs.
10/26/02 Other pre-petition liabilities include principally accrued expenses and customer pre-payments.
10/26/02 Total liabilities increased from amounts on the Bankruptcy Schedules principally due to certain liabilities which
were listed on the Bankruptcy Schedules as amount unknown due to certain contingencies.
CASE NAME: Xetel Corporation
-----------------
CASE NUMBER: 02-14222
-----------------
SCHEDULE OF POST-PETITION LIABILITIES
||==================================================|==========|==========|==========|==========|==========|========||
|| | | | | | | ||
|| | MONTH | MONTH | MONTH | MONTH | MONTH | MONTH ||
|| | 10/26/02 | | | | | ||
||--------------------------------------------------|----------|----------|----------|----------|----------|--------||
|| TRADE ACCOUNTS PAYABLE | 410.11 | | | | | ||
||--------------------------------------------------|----------|----------|----------|----------|----------|--------||
|| TAX PAYABLE | | | | | | ||
||--------------------------------------------------|----------|----------|----------|----------|----------|--------||
|| Federal Payroll Taxes | 0.00 | | | | | ||
||--------------------------------------------------|----------|----------|----------|----------|----------|--------||
|| State Payroll Taxes | 0.00 | | | | | ||
||--------------------------------------------------|----------|----------|----------|----------|----------|--------||
|| Ad Valorem Taxes | 0.00 | | | | | ||
||--------------------------------------------------|----------|----------|----------|----------|----------|--------||
|| Other Taxes SUTA & FUTA | 0.00 | | | | | ||
||--------------------------------------------------|----------|----------|----------|----------|----------|--------||
|| TOTAL TAXES PAYABLE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 ||
||--------------------------------------------------|----------|----------|----------|----------|----------|--------||
|| SECURED DEBT POST-PETITION | 0.00 | | | | | ||
||--------------------------------------------------|----------|----------|----------|----------|----------|--------||
|| ACCRUED INTEREST PAYABLE | 0.00 | | | | | ||
||--------------------------------------------------|----------|----------|----------|----------|----------|--------||
|| ACCRUED PROFESSIONAL FEES* | 0.00 | | | | | ||
||--------------------------------------------------|----------|----------|----------|----------|----------|--------||
|| OTHER ACCRUED LIABILITIES | | | | | | ||
||--------------------------------------------------|----------|----------|----------|----------|----------|--------||
|| 1. | | | | | | ||
||--------------------------------------------------|----------|----------|----------|----------|----------|--------||
|| 2. | | | | | | ||
||--------------------------------------------------|----------|----------|----------|----------|----------|--------||
|| 3. | | | | | | ||
||--------------------------------------------------|----------|----------|----------|----------|----------|--------||
|| TOTAL POST-PETITION LIABILITIES (MOR-3) | $410.11 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 ||
||==================================================|==========|==========|==========|==========|==========|========||
*Payment requires Court Approval
MOR-4 Revised 07/01/98
CASE NAME: Xetel Corporation
-----------------
CASE NUMBER: 02-14222
-----------------
AGING OF POST-PETITION LIABILITIES
MONTH 10/26/2002
-------------------
||==================|==================|==============|==============|==============|===============|=============||
|| DAYS | TOTAL | TRADE | FEDERAL | STATE | AD VALOREM, | OTHER ||
|| | | ACCOUNTS | TAXES | TAXES | OTHER TAXES | ||
||==================|==================|==============|==============|==============|===============|=============||
|| 0-30 | 410.11 | 410.11 | | | | ||
||------------------|------------------|--------------|--------------|--------------|---------------|-------------||
|| 31-60 | 0.00 | | | | | ||
||------------------|------------------|--------------|--------------|--------------|---------------|-------------||
|| 61-90 | 0.00 | | | | | ||
||------------------|------------------|--------------|--------------|--------------|---------------|-------------||
|| 91+ | 0.00 | | | | | ||
||------------------|------------------|--------------|--------------|--------------|---------------|-------------||
|| TOTAL | $410.11 | $410.11 | $0.00 | $0.00 | $0.00 | $0.00 ||
||==================|==================|==============|==============|==============|===============|=============||
AGING OF ACCOUNTS RECEIVABLE
||==================|==================|==============|==============|==============|==============|==============||
|| | | | | | | ||
|| MONTH | 10/26/2002 | | | | | ||
|| | | | | | | ||
||==================|==================|==============|==============|==============|==============|==============||
|| 0-30 DAYS | 1,712,030.51 | | | | | ||
||------------------|------------------|--------------|--------------|--------------|--------------|--------------||
|| 31-60 DAYS | 838,204.86 | | | | | ||
||------------------|------------------|--------------|--------------|--------------|--------------|--------------||
|| 61-90 DAYS | 1,121,105.37 | | | | | ||
||------------------|------------------|--------------|--------------|--------------|--------------|--------------||
|| 91+ DAYS | 1,372,303.35 | | | | | ||
||------------------|------------------|--------------|--------------|--------------|--------------|--------------||
|| Unapplied Cash | -125,565.87 | | | | | ||
||------------------|------------------|--------------|--------------|--------------|--------------|--------------||
|| Other | 21,323.78 | | | | | ||
||------------------|------------------|--------------|--------------|--------------|--------------|--------------||
|| Note Receivable | 201,047.00 | | | | | ||
||------------------|------------------|--------------|--------------|--------------|--------------|--------------||
|| Allowance | -1,974,417.00 | | | | | ||
||------------------|------------------|--------------|--------------|--------------|--------------|--------------||
|| TOTAL | $3,166,032.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 ||
||==================|==================|==============|==============|==============|==============|==============||
MOR-5 Revised 07/01/98
CASE NAME: Xetel Corporation
-----------------
CASE NUMBER: 02-14222
-----------------
STATEMENT OF INCOME (LOSS)
||=====================================|===================|==========|==========|==========|===========|==========|============||
|| | MONTH | MONTH | MONTH | MONTH | MONTH | MONTH | FILING TO ||
|| | 10/22/02-10/26/02 | | | | | | DATE ||
||=====================================|===================|==========|==========|==========|===========|==========|============||
|| REVENUES (MOR-1) | 124,469 | | | | | | 124,469 ||
||-------------------------------------|-------------------|----------|----------|----------|-----------|----------|------------||
|| TOTAL COST OF REVENUES | 295,617 | | | | | | 295,617 ||
||-------------------------------------|-------------------|----------|----------|----------|-----------|----------|------------||
|| GROSS PROFIT | -171,148 | 0 | 0 | 0 | 0 | 0 | -171,148 ||
||=====================================|===================|==========|==========|==========|===========|==========|============||
|| OPERATING EXPENSES: | | | | | | | ||
||-------------------------------------|-------------------|----------|----------|----------|-----------|----------|------------||
|| Selling & Marketing | | | | | | | 0 ||
||-------------------------------------|-------------------|----------|----------|----------|-----------|----------|------------||
|| General & Administrative | 50,377 | | | | | | 50,377 ||
||-------------------------------------|-------------------|----------|----------|----------|-----------|----------|------------||
|| Insiders Compensation | | | | | | | 0 ||
||-------------------------------------|-------------------|----------|----------|----------|-----------|----------|------------||
|| Professional Fees | | | | | | | 0 ||
||-------------------------------------|-------------------|----------|----------|----------|-----------|----------|------------||
|| Other | | | | | | | 0 ||
||-------------------------------------|-------------------|----------|----------|----------|-----------|----------|------------||
|| Other | | | | | | | 0 ||
||-------------------------------------|-------------------|----------|----------|----------|-----------|----------|------------||
|| TOTAL OPERATING EXPENSES | 50,377 | 0 | 0 | 0 | 0 | 0 | 50,377 ||
||=====================================|===================|==========|==========|==========|===========|==========|============||
|| INCOME BEFORE INT, DEPR/TAX (MOR-1) | -221,525 | 0 | 0 | 0 | 0 | 0 | -221,525 ||
||-------------------------------------|-------------------|----------|----------|----------|-----------|----------|------------||
|| INTEREST EXPENSE | 7,200 | | | | | | 7,200 ||
||-------------------------------------|-------------------|----------|----------|----------|-----------|----------|------------||
|| DEPRECIATION | 8,608 | | | | | | 8,608 ||
||-------------------------------------|-------------------|----------|----------|----------|-----------|----------|------------||
|| OTHER (INCOME) EXPENSE* | | | | | | | 0 ||
||-------------------------------------|-------------------|----------|----------|----------|-----------|----------|------------||
|| OTHER ITEMS** | | | | | | | 0 ||
||-------------------------------------|-------------------|----------|----------|----------|-----------|----------|------------||
|| TOTAL INT, DEPR & OTHER ITEMS | 15,808 | 0 | 0 | 0 | 0 | 0 | 15,808 ||
||=====================================|===================|==========|==========|==========|===========|==========|============||
|| NET INCOME BEFORE TAXES | -237,333 | 0 | 0 | 0 | 0 | 0 | -237,333 ||
||-------------------------------------|-------------------|----------|----------|----------|-----------|----------|------------||
|| FEDERAL INCOME TAXES | 0 | | | | | | 0 ||
||-------------------------------------|-------------------|----------|----------|----------|-----------|----------|------------||
|| NET INCOME (LOSS) (MOR-1) | -237,333 | 0 | 0 | 0 | 0 | 0 | -237,333 ||
||=====================================|===================|==========|==========|==========|===========|==========|============||
Accrual Accounting Required, Otherwise Footnote with Explanation.
* Footnote Mandatory.
* * Unusual and/or infrequent item(s) outside the ordinary course of business requires footnote.
MOR-6 Revised 07/01/98
CASE NAME: Xetel Corporation
-----------------
CASE NUMBER: 02-14222
-----------------
||=======================================|===========|============|============|============|============|============|===========||
|| CASH RECEIPTS AND | MONTH | MONTH | MONTH | MONTH | MONTH | MONTH | FILING TO ||
|| DISBURSEMENTS | 10/22/02- | | | | | | DATE ||
|| | 10/26/02 | | | | | | ||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| 1. CASH-BEGINNING OF MONTH | $81,502.00| $500,354.39| $500,354.39| $500,354.39| $500,354.39| $500,354.39| $81,502.00||
||=======================================|===========|============|============|============|============|============|===========||
|| RECEIPTS: | | | | | | | ||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| 2. CASH SALES | 0.00| | | | | | 0.00||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| 3. COLLECTION OF ACCOUNTS RECEIVABLE | 452,888.72| | | | | | 452,888.72||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| 4. LOANS & ADVANCES (attach list) | | | | | | | 0.00||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| 5. SALE OF ASSETS | | | | | | | 0.00||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| 6. OTHER (attach list) | 4,750.12| | | | | | 4,750.12||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| TOTAL RECEIPTS** | 457,638.84| 0.00| 0.00| 0.00| 0.00| 0.00| 457,638.84||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| (Withdrawal) Contribution by | | | | | | | ||
|| Individual Debtor MFR-2* | | | | | | | 0.00||
||=======================================|===========|============|============|============|============|============|===========||
|| DISBURSEMENTS: | | | | | | | ||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| 7. NET PAYROLL | | | | | | | 0.00||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| 8. PAYROLL TAXES PAID | | | | | | | 0.00||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| 9. SALES, USE & OTHER TAXES PAID | | | | | | | 0.00||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| 10. SECURED/RENTAL/LEASES | | | | | | | 0.00||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| 11. UTILITIES & TELEPHONE & FREIGHT | 2,500.00| | | | | | 2,500.00||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| 12. INSURANCE | | | | | | | 0.00||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| 13. INVENTORY PURCHASES | 308.25| | | | | | 308.25||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| 14. VEHICLE EXPENSES | | | | | | | 0.00||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| 15. TRAVEL & ENTERTAINMENT | | | | | | | 0.00||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| 16. REPAIRS, MAINTENANCE & SUPPLIES | | | | | | | 0.00||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| 17. ADMINISTRATIVE & SELLING | | | | | | | 0.00||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| 18. OTHER (attach list) | 35,978.20| | | | | | 35,978.20||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| TOTAL DISBURSEMENTS FROM OPERATIONS | 38,786.45| 0.00| 0.00| 0.00| 0.00| 0.00| 38,786.45||
||=======================================|===========|============|============|============|============|============|===========||
|| 19. PROFESSIONAL FEES | | | | | | | 0.00||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| 20. U.S. TRUSTEE FEES | | | | | | | 0.00||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| 21. OTHER REORGANIZATION EXPENSES | | | | | | | 0.00||
|| (attach list) | | | | | | | ||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| TOTAL DISBURSEMENTS** | 38,786.45| 0.00| 0.00| 0.00| 0.00| 0.00| 38,786.45||
||=======================================|===========|============|============|============|============|============|===========||
|| 22. NET CASH FLOW | 418,852.39| 0.00| 0.00| 0.00| 0.00| 0.00| 418,852.39||
||---------------------------------------|-----------|------------|------------|------------|------------|------------|-----------||
|| 23. CASH - END OF MONTH (MOR-2) |$500,354.39| $500,354.39| $500,354.39| $500,354.39| $500,354.39| $500,354.39|$500,354.39||
||=======================================|===========|============|============|============|============|============|===========||
* Applies to Individual debtors only
MOR-7 **Numbers for the current month should balance (match) Revised 07/01/98
RECEIPTS and CHECKS/OTHER DISBURSEMENTS lines on MOR-8
Other Receipts:
401K loan repay 4,504.21
American Express - Refund 31.25
Conway Transportation - Refund 214.66
-------------
$4,750.12
-------------
Other Disbursements:
SVB LOC Paydown 35,978.00
-------------
$35,978.00
CASE NAME: Xetel Corporation
-----------------
CASE NUMBER: 02-14222
-----------------
CASH ACCOUNT RECONCILIATION
MONTH OF 26-Oct-02
------------------
||======================================|===============|==============|===============|===============|================|
|| | Silicon | Comerica | Silicon | Comerica | |
|| BANK NAME | Valley Bank | Bank | Valley Bank | Bank | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| ACCOUNT NUMBER | xxxxxx | xxxxxx | xxxxxx | xxxxxx | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| ACCOUNT TYPE | DIP Operating | PAYROLL | Old Operating |Cafeteria Plan | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| BANK BALANCE 10/26/02 | 0.00 | 31,878.98 | 67.73 | 5,517.50 | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| DEPOSITS IN TRANSIT/OUTGOING WIRE | 528,633.35 | | | | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| PAYDOWN LOC (IN TRANSIT) | -35,978.20 | | | | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| OUTSTANDING CHECKS | 2,808.25 | 20,179.78 | | 505.00 | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| ADJUSTED BANK BALANCE | $489,846.90 | $11,699.20 | $67.73 | $5,012.50 | |
||======================================|===============|==============|===============|===============|================|
|| BEGINNING CASH - PER BOOKS 10/21/02 | 0.00 | 11,699.20 | 67.73 | 5,012.50 | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| RECEIPTS* | | | | | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| TRANSFERS BETWEEN ACCOUNTS | 528,633.35 | | | | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| (WITHDRAWAL) OR CONTRIBUTION BY | | | | | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| INDIVIDUAL DEBTOR MFR-2 | -35,978.20 | | | | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| CHECKS/OTHER DISBURSEMENTS* | 2,808.25 | | | | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| ENDING CASH - PER BOOKS 10/26/02 | $489,846.90 | $11,699.20 | $67.73 | $5,012.50 | |
||======================================|===============|==============|===============|===============|================|
||======================================|===============|==============|===============|===============|================|
|| BANK NAME | Chase | Chase | Chase | Petty Cash | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| ACCOUNT NUMBER | xxxxxx | xxxxxx | xxxxxx | | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| ACCOUNT TYPE | Austin Lockbox|Dallas Lockbox| Old Operating| | TOTAL |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| BANK BALANCE 10/26/02 | 100.00 | 32,647.16 | 4,608.83 | 429.00 | $75,249.20 |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| DEPOSITS IN TRANSIT/OUTGOING WIRE | -100.00 | -32,647.16 | | | $495,886.19 |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| OUTSTANDING CHECKS | | | 11,309.45 | | ($24,668.75) |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| ADJUSTED BANK BALANCE | $0.00 | $0.00 | ($6,700.62)| $429.00 | $17,221.41 |
||======================================|===============|==============|===============|===============|================|
|| BEGINNING CASH - PER BOOKS 10/21/02 | 23,356.50 | 47,638.01 | -6,700.62 | 429.00 | $81,502.32 |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| RECEIPTS* | 457,424.18 | 214.66 | | | $457,638.84 |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| TRANSFERS BETWEEN ACCOUNTS | | | | | $528,633.35 |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| (WITHDRAWAL)OR CONTRIBUTION BY | | | | | |
|| INDIVIDUAL DEBTOR MFR-2 | -480,780.68 | -47,852.67 | | | ($564,611.55) |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| CHECKS/OTHER DISBURSEMENTS* | | | | | $2,808.25 |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| RECONCILING ITEMS___________________ | | | | | $0.00 |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| ENDING CASH - PER BOOKS 10/26/02 | $0.00 | $0.00 | ($6,700.62)| $429.00 | $500,354.71 |
||======================================|===============|==============|===============|===============|================|
MOR-8 *Numbers should balance (match) TOTAL RECEIPTS and Revised 07/01/98
TOTAL DISBURSEMENTS lines on MOR-7
CASE NAME: Xetel Corporation
-----------------
CASE NUMBER: 02-14222
-----------------
PAYMENTS TO INSIDERS AND PROFESSIONALS
Of the total disbursements shown for the month, list the amount paid to insiders (as defined in Section 101(31)(A)-(F)
of the U.S. Bankruptcy Code) and the professionals.
Also, for insiders, identify the type of compensation paid (e.g., salary, commission, bonus, etc.)
(Attach additional pages as necessary).
||=================================|=============|=============|=============|============|=============|=============||
|| | MONTH | MONTH | MONTH | MONTH | MONTH | MONTH ||
|| INSIDERS: NAME/COMP TYPE | 10/26/2002 | | | | | ||
|| | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 1. | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 2. | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 3. | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 4. | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 5. | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 6. | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| TOTAL INSIDERS (MOR-1) | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 ||
||=================================|=============|=============|=============|============|=============|=============||
||=================================|=============|=============|=============|============|=============|=============||
|| | MONTH | MONTH | MONTH | MONTH | MONTH | MONTH ||
|| PROFESSIONALS | 10/26/2002 | | | | | ||
|| | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 1. | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 2. | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 3. | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 4. | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 5. | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 6. | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| TOTAL PROFESSIONALS (MOR-1) | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 ||
||=================================|=============|=============|=============|============|=============|=============||
MOR-9 Revised 07/01/98