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 NOVEMBER 23, 2002
||===========================================|============|============|============|============|============|============||
|| MONTH | 10/26/2002 | 11/23/2002 | | | | ||
||-------------------------------------------|------------|------------|------------|------------|------------|------------||
|| REVENUES (MOR-6) | 124,469 | 755,326 | 0 | 0 | 0 | 0 ||
||-------------------------------------------|------------|------------|------------|------------|------------|------------||
|| INCOME BEFORE INT; DEPREC./TAX (MOR-6) | -221,525 | -603,861 | 0 | 0 | 0 | 0 ||
||-------------------------------------------|------------|------------|------------|------------|------------|------------||
|| NET INCOME (LOSS) (MOR-6) | -237,333 | -1,134,551 | 0 | 0 | 0 | 0 ||
||-------------------------------------------|------------|------------|------------|------------|------------|------------||
|| PAYMENTS TO INSIDERS (MOR-9) | 0 | 38,359 | 0 | 0 | 0 | 0 ||
||-------------------------------------------|------------|------------|------------|------------|------------|------------||
|| PAYMENTS TO PROFESSIONALS (MOR-9) | 0 | 0 | 0 | 0 | 0 | 0 ||
||-------------------------------------------|------------|------------|------------|------------|------------|------------||
|| TOTAL DISBURSEMENTS (MOR-8) | 38,786 | 749,044 | 0 | 0 | 0 | 0 ||
||===========================================|============|============|============|============|============|============||
***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 EXPIRATION | Are all post-petition liabilities, including taxes, being paid within terms? Yes
| DATE | Have any pre-petition liabilities been paid? No
|--------------------------- ------------| If so, describe
|CASUALTY YES (x) NO ( ) 12/1/2003 | -------------------------------------------------------------------
|LIABILITY YES (x) NO ( ) 12/1/2003 | Are all funds received being deposited into DIP bank accounts? Yes
|VEHICLE YES (x) NO ( ) 12/1/2003 | Were any assets disposed of outside the normal course of business? No
|WORKER'S YES (x) NO ( ) 3/1/2003 | If so, describe
|OTHER YES ( ) NO ( ) | -------------------------------------------------------------------
|-------------------------------------------| 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 X /s/ Angelo DeCaro TITLE: President and CEO
---------------------------------
TELEPHONE/FAX: (512) 472-5997 (512) 472-5248 (ORIGINAL SIGNATURE)
---------------------------------
Angelo DeCaro 12/18/02
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 | 11/23/2002 | | | | ||
||--------------------------------|----------------|----------------|-----------------|----------|----------|----------|----------||
|| CURRENT ASSETS | | | | | | | ||
||--------------------------------|----------------|----------------|-----------------|----------|----------|----------|----------||
|| Cash | 81,502 | 500,354 | 1,843,103 | | | | ||
||--------------------------------|----------------|----------------|-----------------|----------|----------|----------|----------||
|| Accounts Receivable, Net | 5,388,318 | 3,166,032 | 1,709,345 | | | | ||
||--------------------------------|----------------|----------------|-----------------|----------|----------|----------|----------||
|| Inventory, net | 4,615,164 | 4,218,774 | 3,842,664 | | | | ||
||--------------------------------|----------------|----------------|-----------------|----------|----------|----------|----------||
|| Prepaid Expenses | 0 | 275,374 | 217,748 | | | | ||
||--------------------------------|----------------|----------------|-----------------|----------|----------|----------|----------||
|| Investments | 0 | 0 | | | | | ||
||--------------------------------|----------------|----------------|-----------------|----------|----------|----------|----------||
|| Other | 0 | 32,886 | 32,886 | | | | ||
||--------------------------------|----------------|----------------|-----------------|----------|----------|----------|----------||
|| TOTAL CURRENT ASSETS | 10,084,984 | 8,193,420 | 7,645,746 | 0 | 0 | 0 | 0 ||
||================================|================|================|=================|==========|==========|==========|==========||
|| PROPERTY, PLANT & EQUIP. @COST | | 19,320,389 | 18,605,634 | | | | ||
||--------------------------------|----------------|----------------|-----------------|----------|----------|----------|----------||
|| Less Accumulated Depreciation | | 13,955,785 | 13,756,741 | | | | ||
||--------------------------------|----------------|----------------|-----------------|----------|----------|----------|----------||
|| NET BOOK VALUE OF PP & E | 4,817,411 | 5,364,604 | 4,848,893 | 0 | 0 | 0 | 0 ||
||--------------------------------|----------------|----------------|-----------------|----------|----------|----------|----------||
|| OTHER ASSETS | | | | | | | ||
||--------------------------------|----------------|----------------|-----------------|----------|----------|----------|----------||
|| 1. Tax Deposits | | | | | | | ||
||--------------------------------|----------------|----------------|-----------------|----------|----------|----------|----------||
|| 2. Investments in Subsidiaries | | | | | | | ||
||--------------------------------|----------------|----------------|-----------------|----------|----------|----------|----------||
|| 3. Electric Deposit | | | | | | | ||
||--------------------------------|----------------|----------------|-----------------|----------|----------|----------|----------||
|| 4. Deposits | 144,223 | 144,223 | 163,389 | | | | ||
||--------------------------------|----------------|----------------|-----------------|----------|----------|----------|----------||
|| TOTAL ASSETS | 15,046,618 | 13,702,247 | 12,658,028 | 0 | 0 | 0 | 0 ||
||================================|================|================|=================|==========|==========|==========|==========||
* Per Schedules and Statement of Affairs
MOR-2 Revised 07/01/98
Financial Statement Notes:
10/21/2002 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.
10/21/2002 Prepaid expenses and other were not listed on the Bankruptcy Schedules as they had no cash value at 10/21/02.
10/21/2002 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.
11/23/2002 Property, plant and equipment decreased by $714,755 because equipment under capital leases was returned to lessors.
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 | 11/23/2002 | | | | ||
||----------------------------------|---------------|----------------|----------------|----------|----------|----------||
|| LIABILITIES | | | | | | | ||
||----------------------------------|---------------|----------------|----------------|----------|----------|----------|----------||
|| POST-PETITION LIABILITIES(MOR-4) | 0 | 410 | 26,110 | | | | ||
||==================================|===============|================|================|==========|==========|==========|==========||
|| PRE-PETITION LIABILITIES | | | | | | | ||
||----------------------------------|---------------|----------------|----------------|----------|----------|----------|----------||
|| Notes Payable - Unsecured | 1,908,794 | 1,908,794 | 1,908,794 | | | | ||
||----------------------------------|---------------|----------------|----------------|----------|----------|----------|----------||
|| Accounts Payable | 17,188,222 | 14,885,233 | 16,233,063 | | | | ||
||----------------------------------|---------------|----------------|----------------|----------|----------|----------|----------||
|| Priority Debt | 1,191,766 | 998,771 | 1,148,490 | | | | ||
||----------------------------------|---------------|----------------|----------------|----------|----------|----------|----------||
|| Federal Income Tax | 0 | 0 | 0 | | | | ||
||----------------------------------|---------------|----------------|----------------|----------|----------|----------|----------||
|| FICA/Withholding | 0 | 0 | 0 | | | | ||
||----------------------------------|---------------|----------------|----------------|----------|----------|----------|----------||
|| Capital Leases | 0 | 752,784 | 752,784 | | | | ||
||----------------------------------|---------------|----------------|----------------|----------|----------|----------|----------||
|| Other | 0 | 2,886,735 | 1,453,818 | | | | ||
||----------------------------------|---------------|----------------|----------------|----------|----------|----------|----------||
|| TOTAL PRE-PETITION LIABILITIES | 20,288,782 | 21,432,317 | 21,496,949 | 0 | 0 | 0 | 0 ||
||----------------------------------|---------------|----------------|----------------|----------|----------|----------|----------||
|| TOTAL LIABILITIES | 20,288,782 | 21,432,727 | 21,523,059 | 0 | 0 | 0 | 0 ||
||==================================|===============|================|================|==========|==========|==========|==========||
|| OWNER'S EQUITY (DEFICIT) | | | | | | | ||
||----------------------------------|---------------|----------------|----------------|----------|----------|----------|----------||
|| PREFERRED STOCK | 0 | 0 | | | | | ||
||----------------------------------|---------------|----------------|----------------|----------|----------|----------|----------||
|| COMMON STOCK | 23,314,803 | 23,314,803 | 23,314,803 | | | | ||
||----------------------------------|---------------|----------------|----------------|----------|----------|----------|----------||
|| OTHER | 2,250,983 | | | | | | ||
||----------------------------------|---------------|----------------|----------------|----------|----------|----------|----------||
|| RETAINED EARNINGS: | | | | | | | ||
|| Filing Date | -30,807,950 | -30,807,950 | -30,807,950 | | | | ||
||----------------------------------|---------------|----------------|----------------|----------|----------|----------|----------||
|| RETAINED EARNINGS: | | | | | | | ||
|| Post Filing Date | | -237,333 | -1,371,884 | | | | ||
||----------------------------------|---------------|----------------|----------------|----------|----------|----------|----------||
|| TOTAL OWNER'S EQUITY (NET WORTH) | -5,242,164 | -7,730,480 | -8,865,031 | 0 | 0 | 0 | 0 ||
||==================================|===============|================|================|==========|==========|==========|==========||
|| TOTAL | | | | | | | ||
|| LIABILITIES & | | | | | | | ||
|| OWNERS EQUITY | 15,046,618 | 13,702,247 | 12,658,028 | 0 | 0 | 0 | 0 ||
||==================================|===============|================|================|==========|==========|==========|==========||
* Per Schedules and Statement of Affairs
MOR-3 Revised 07/01/98
Financial Statement Notes:
10/21/2002 Notes Payable are included with Accounts Payable on the Bankruptcy Schedules as unsecured non-priority claims.
10/21/2002 Priority Debt includes secured debt of $50,000, disputed property tax claims, other tax claims and certain employee
claims.
10/21/2002 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.
11/23/2002 Priority Debt increased due to monthly property tax and franchise tax accrual.
11/23/2002 Certain amounts have been reclassed from Other pre-petition liabilities to accounts payable.
CASE NAME: Xetel Corporation
-----------------
CASE NUMBER: 02-14222
-----------------
SCHEDULE OF POST-PETITION LIABILITIES
||======================================|=============|=============|=============|=============|=============|=============||
|| | MONTH ENDED | MONTH ENDED | MONTH ENDED | MONTH ENDED | MONTH ENDED | MONTH ENDED ||
|| | 10/21/02 - | | | | | ||
|| | 10/26/02 | 11/23/2002 | | | | ||
||--------------------------------------|-------------|-------------|-------------|-------------|-------------|-------------||
|| TRADE ACCOUNTS PAYABLE | 410 | 1,110 | | | | ||
||--------------------------------------|-------------|-------------|-------------|-------------|-------------|-------------||
|| TAX PAYABLE | | | | | | ||
||--------------------------------------|-------------|-------------|-------------|-------------|-------------|-------------||
|| Federal Payroll Taxes | 0 | | | | | ||
||--------------------------------------|-------------|-------------|-------------|-------------|-------------|-------------||
|| State Payroll Taxes | 0 | | | | | ||
||--------------------------------------|-------------|-------------|-------------|-------------|-------------|-------------||
|| Ad Valorem Taxes | 0 | | | | | ||
||--------------------------------------|-------------|-------------|-------------|-------------|-------------|-------------||
|| Other Taxes SUTA & FUTA | 0 | | | | | ||
||--------------------------------------|-------------|-------------|-------------|-------------|-------------|-------------||
|| TOTAL TAXES PAYABLE | 0 | 0 | 0 | 0 | 0 | 0 ||
||--------------------------------------|-------------|-------------|-------------|-------------|-------------|-------------||
|| SECURED DEBT POST-PETITION | 0 | | | | | ||
||--------------------------------------|-------------|-------------|-------------|-------------|-------------|-------------||
|| ACCRUED INTEREST PAYABLE | 0 | | | | | ||
||--------------------------------------|-------------|-------------|-------------|-------------|-------------|-------------||
|| ACCRUED PROFESSIONAL FEES* | 0 | 25,000 | | | | ||
||--------------------------------------|-------------|-------------|-------------|-------------|-------------|-------------||
|| OTHER ACCRUED LIABILITIES | | | | | | ||
||--------------------------------------|-------------|-------------|-------------|-------------|-------------|-------------||
|| 1. | | | | | | ||
||--------------------------------------|-------------|-------------|-------------|-------------|-------------|-------------||
|| 2. | | | | | | ||
||--------------------------------------|-------------|-------------|-------------|-------------|-------------|-------------||
|| 3. | | | | | | ||
||--------------------------------------|-------------|-------------|-------------|-------------|-------------|-------------||
|| TOTAL POST-PETITION | | | | | | ||
|| LIABILITIES (MOR-3) | 410 | 26,110 | 0 | 0 | 0 | 0 ||
||======================================|=============|=============|=============|=============|=============|=============||
*Payment requires Court Approval
MOR-4 Revised 07/01/98
CASE NAME: Xetel Corporation
-----------------
CASE NUMBER: 02-14222
-----------------
AGING OF POST-PETITION LIABILITIES
MONTH 11/23/2002
-------------------
||==================|==================|==============|==============|==============|===============|=============||
|| DAYS | TOTAL | TRADE | FEDERAL | STATE | AD VALOREM, | OTHER ||
|| | | ACCOUNTS | TAXES | TAXES | OTHER TAXES | ||
||==================|==================|==============|==============|==============|===============|=============||
|| 0-30 | 5,955 | 5,955 | | | | ||
||------------------|------------------|--------------|--------------|--------------|---------------|-------------||
|| 31-60 | -4,845 | -4,845 | | | | ||
||------------------|------------------|--------------|--------------|--------------|---------------|-------------||
|| 61-90 | 0 | | | | | ||
||------------------|------------------|--------------|--------------|--------------|---------------|-------------||
|| 91+ | 0 | | | | | ||
||------------------|------------------|--------------|--------------|--------------|---------------|-------------||
|| TOTAL | 1,110 | 1,110 | 0 | 0 | 0 | 0 ||
||==================|==================|==============|==============|==============|===============|=============||
AGING OF ACCOUNTS RECEIVABLE
||==================|==================|==============|==============|==============|==============|==============||
|| | | | | | | ||
|| |==================|==============|==============|==============|==============|==============||
|| MONTH | 10/26/2002 | 11/23/2002 | | | | ||
|| |------------------|--------------|--------------|--------------|--------------|--------------||
|| | | | | | | ||
||==================|==================|==============|==============|==============|==============|==============||
|| 0-30 DAYS | 1,712,031 | 702,774 | | | | ||
||------------------|------------------|--------------|--------------|--------------|--------------|--------------||
|| 31-60 DAYS | 838,205 | 1,241,368 | | | | ||
||------------------|------------------|--------------|--------------|--------------|--------------|--------------||
|| 61-90 DAYS | 1,121,105 | 203,326 | | | | ||
||------------------|------------------|--------------|--------------|--------------|--------------|--------------||
|| 91+ DAYS | 1,372,303 | 830,567 | | | | ||
||------------------|------------------|--------------|--------------|--------------|--------------|--------------||
|| Unapplied Cash | -125,566 | -270,276 | | | | ||
||------------------|------------------|--------------|--------------|--------------|--------------|--------------||
|| Other | 21,324 | 48,557 | | | | ||
||------------------|------------------|--------------|--------------|--------------|--------------|--------------||
|| Note Receivable | 201,047 | 201,047 | | | | ||
||------------------|------------------|--------------|--------------|--------------|--------------|--------------||
|| Allowance | -1,974,417 | -1,248,019 | | | | ||
||------------------|------------------|--------------|--------------|--------------|--------------|--------------||
|| TOTAL | 3,166,032 | 1,709,345 | 0 | 0 | 0 | 0 ||
||==================|==================|==============|==============|==============|==============|==============||
MOR-5 Revised 07/01/98
CASE NAME: Xetel Corporation
-----------------
CASE NUMBER: 02-14222
-----------------
STATEMENT OF INCOME (LOSS)
||================================|=============|=============|=============|=============|=============|=============|===========||
|| | MONTH ENDED | MONTH ENDED | MONTH ENDED | MONTH ENDED | MONTH ENDED | MONTH ENDED | FILING TO ||
|| | 10/22/02- | | | | | | ||
|| | 10/26/02 | 11/23/2002 | | | | | DATE ||
||================================|=============|=============|=============|=============|=============|=============|===========||
|| REVENUES (MOR-1) | 124,469 | 755,326 | | | | | 879,795 ||
||--------------------------------|-------------|-------------|-------------|-------------|-------------|-------------|-----------||
|| TOTAL COST OF REVENUES | 295,617 | 1,110,683 | | | | | 1,406,300 ||
||--------------------------------|-------------|-------------|-------------|-------------|-------------|-------------|-----------||
|| GROSS PROFIT | -171,148 | -355,357 | 0 | 0 | 0 | 0 | -526,505 ||
||================================|=============|=============|=============|=============|=============|=============|===========||
|| OPERATING EXPENSES: | | | | | | | ||
||--------------------------------|-------------|-------------|-------------|-------------|-------------|-------------|-----------||
|| Selling & Marketing | | | | | | | 0 ||
||--------------------------------|-------------|-------------|-------------|-------------|-------------|-------------|-----------||
|| General & Administrative | 50,377 | 120,394 | | | | | 170,771 ||
||--------------------------------|-------------|-------------|-------------|-------------|-------------|-------------|-----------||
|| Insiders Compensation | | 31,284 | | | | | 31,284 ||
||--------------------------------|-------------|-------------|-------------|-------------|-------------|-------------|-----------||
|| Professional Fees | | 96,826 | | | | | 96,826 ||
||--------------------------------|-------------|-------------|-------------|-------------|-------------|-------------|-----------||
|| Other | | | | | | | 0 ||
||--------------------------------|-------------|-------------|-------------|-------------|-------------|-------------|-----------||
|| Other | | | | | | | 0 ||
||--------------------------------|-------------|-------------|-------------|-------------|-------------|-------------|-----------||
|| TOTAL OPERATING EXPENSES | 50,377 | 248,504 | 0 | 0 | 0 | 0 | 298,881 ||
||================================|=============|=============|=============|=============|=============|=============|===========||
|| INCOME BEFORE INT, | | | | | | | ||
|| DEPR/TAX (MOR-1) | -221,525 | -603,861 | 0 | 0 | 0 | 0 | -825,386 ||
||--------------------------------|-------------|-------------|-------------|-------------|-------------|-------------|-----------||
|| INTEREST EXPENSE | 7,200 | 23,967 | | | | | 31,167 ||
||--------------------------------|-------------|-------------|-------------|-------------|-------------|-------------|-----------||
|| DEPRECIATION | 8,608 | 137,226 | | | | | 145,834 ||
||--------------------------------|-------------|-------------|-------------|-------------|-------------|-------------|-----------||
|| OTHER (INCOME) EXPENSE* | | | | | | | 0 ||
||--------------------------------|-------------|-------------|-------------|-------------|-------------|-------------|-----------||
|| OTHER ITEMS** | | 369,497 | | | | | 369,497 ||
||--------------------------------|-------------|-------------|-------------|-------------|-------------|-------------|-----------||
|| TOTAL INT, DEPR & OTHER ITEMS | 15,808 | 530,690 | 0 | 0 | 0 | 0 | 546,498 ||
||================================|=============|=============|=============|=============|=============|=============|===========||
|| NET INCOME BEFORE TAXES | -237,333 | -1,134,551 | 0 | 0 | 0 | 0 |-1,371,884 ||
||--------------------------------|-------------|-------------|-------------|-------------|-------------|-------------|-----------||
|| FEDERAL INCOME TAXES | 0 | | | | | | 0 ||
||--------------------------------|-------------|-------------|-------------|-------------|-------------|-------------|-----------||
|| NET INCOME (LOSS) (MOR-1) | -237,333 | -1,134,551 | 0 | 0 | 0 | 0 |-1,371,884 ||
||================================|=============|=============|=============|=============|=============|=============|===========||
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
11/23/2002 Other items represent the loss associated with the return of equipment under capital leases to the lessors.
CASE NAME: Xetel Corporation
-----------------
CASE NUMBER: 02-14222
-----------------
||=======================================|===========|============|===========|===========|===========|===========|===========||
|| CASH RECEIPTS AND | MONTH | MONTH | MONTH | MONTH | MONTH | MONTH | FILING ||
|| DISBURSEMENTS | ENDED | ENDED | ENDED | ENDED | ENDED | ENDED | TO ||
|| | 10/22/02- | 11/23/2002 | | | | | DATE ||
|| | 10/26/02 | | | | | | ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
|| 1. CASH-BEGINNING OF MONTH | 81,502 | 500,354 | 1,843,103 | 1,843,103 | 1,843,103 | 1,843,103 | 81,502 ||
||=======================================|===========|============|===========|===========|===========|===========|===========||
|| RECEIPTS: | | | | | | | ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
|| 2. CASH SALES | 0 | | | | | | 0 ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
|| 3. COLLECTION OF ACCOUNTS RECEIVABLE | 452,889 | 1,999,894 | | | | | 2,452,783 ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
|| 4. LOANS & ADVANCES (attach list) | | | | | | | 0 ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
|| 5. SALE OF ASSETS | | | | | | | 0 ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
|| 6. OTHER (attach list) | 4,750 | 91,898 | | | | | 96,649 ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
|| TOTAL RECEIPTS** | 457,639 | 2,091,792 | 0 | 0 | 0 | 0 | 2,549,431 ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
|| (Withdrawal) Contribution by | | | | | | | ||
|| Individual Debtor MFR-2* | | | | | | | 0 ||
||=======================================|===========|============|===========|===========|===========|===========|===========||
|| DISBURSEMENTS: | | | | | | | ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
|| 7. NET PAYROLL | | 272,770 | | | | | 272,770 ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
|| 8. PAYROLL TAXES PAID | | 79,455 | | | | | 79,455 ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
|| 9. SALES, USE & OTHER TAXES PAID | | 17,265 | | | | | 17,265 ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
||10. SECURED/RENTAL/LEASES | | 179,883 | | | | | 179,883 ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
||11. UTILITIES & TELEPHONE & FREIGHT | 2,500 | 26,986 | | | | | 29,486 ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
||12. INSURANCE | | 59,899 | | | | | 59,899 ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
||13. INVENTORY PURCHASES | 308 | 15,871 | | | | | 16,179 ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
||14. VEHICLE EXPENSES | | | | | | | 0 ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
||15. TRAVEL & ENTERTAINMENT | | 1,905 | | | | | 1,905 ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
||16. REPAIRS, MAINTENANCE & SUPPLIES | | 7,015 | | | | | 7,015 ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
||17. ADMINISTRATIVE & SELLING | | 8,470 | | | | | 8,470 ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
||18. OTHER (attach list) | 35,978 | 79,525 | | | | | 115,503 ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
|| TOTAL DISBURSEMENTS FROM OPERATIONS | 38,786 | 749,044 | 0 | 0 | 0 | 0 | 787,830 ||
||=======================================|===========|============|===========|===========|===========|===========|===========||
||19. PROFESSIONAL FEES | | | | | | | 0 ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
||20. U.S. TRUSTEE FEES | | | | | | | 0 ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
||21. OTHER REORGANIZATION EXPENSES | | | | | | | 0 ||
|| (attach list) | | | | | | | ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
|| TOTAL DISBURSEMENTS** | 38,786 | 749,044 | 0 | 0 | 0 | 0 | 787,830 ||
||=======================================|===========|============|===========|===========|===========|===========|===========||
||22. NET CASH FLOW | 418,852 | 1,342,749 | 0 | 0 | 0 | 0 | 1,761,601 ||
||---------------------------------------|-----------|------------|-----------|-----------|-----------|-----------|-----------||
||23. CASH - END OF MONTH (MOR-2) | 500,354 | 1,843,103 | 1,843,103 | 1,843,103 | 1,843,103 | 1,843,103 | 1,843,103 ||
||=======================================|===========|============|===========|===========|===========|===========|===========||
* 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
11/23/2002 Other Receipts:
Inventory Sales 75,868
Cobra Premiums (pass thru) 7,603
401K loan repayments (pass thru) 4,741
Other 3,686
---------
91,898
=========
Other Disbursements:
SVB Fees 79,585
=========
CASE NAME: Xetel Corporation
-----------------
CASE NUMBER: 02-14222
-----------------
CASH ACCOUNT RECONCILIATION
MONTH OF 23-Nov-02
------------------
||======================================|===============|==============|===============|===============|================|
|| | Silicon | Comerica | Silicon | Comerica | Silicon |
|| BANK NAME | Valley Bank | Bank | Valley Bank | Bank | Valley Bank |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| ACCOUNT NUMBER | xxxxxx | xxxxxx | xxxxxx | xxxxxx | xxxxxx |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| ACCOUNT TYPE | DIP Operating | PAYROLL | Old Operating |Cafeteria Plan |Cash Collateral |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| BANK BALANCE (Ending) | 1,557,490 | 146,016 | 0 | 3,649 | 77,135 |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| DEPOSITS IN TRANSIT/OUTGOING WIRE | 132,331 | 35,031 | | | -77,135 |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| OUTSTANDING CHECKS | 27,725 | 5,892 | | | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| ADJUSTED BANK BALANCE | 1,662,096 | 175,155 | 0 | 3,649 | 0 |
||======================================|===============|==============|===============|===============|================|
|| BEGINNING CASH - PER BOOKS | 489,847 | 11,699 | 68 | 2,773 | 0 |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| RECEIPTS* | 1,325,945 | | | | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| TRANSFERS BETWEEN ACCOUNTS | 246,734 | 519,213 | | | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| (WITHDRAWAL) OR CONTRIBUTION BY | | | | | |
|| INDIVIDUAL DEBTOR MFR-2 | | | | | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| CHECKS/OTHER DISBURSEMENTS* | -401,696 | -355,757 | | | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| RECONCILING ITEMS | 1,265 | | -68 | 876 | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| ENDING CASH - PER BOOKS 10/26/02 | 1,662,096 | 175,155 | 0 | 3,648 | 0 |
||======================================|===============|==============|===============|===============|================|
||======================================|===============|==============|===============|===============|================|
|| BANK NAME | Chase | Chase | Chase | Petty Cash | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| ACCOUNT NUMBER | xxxxxx | xxxxxx | xxxxxx | | |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| ACCOUNT TYPE | Austin Lockbox|Dallas Lockbox| Old Operating| | TOTAL |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| BANK BALANCE (Ending) | 20,100 | 35,096 | 1,775 | 429 | 1,764,555 |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| DEPOSITS IN TRANSIT/OUTGOING WIRE | -20,100 | -35,096 | | | 112,165 |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| OUTSTANDING CHECKS | | | | | 33,617 |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| ADJUSTED BANK BALANCE | 0 | 0 | 1,775 | 429 | 1,843,103 |
||======================================|===============|==============|===============|===============|================|
|| BEGINNING CASH - PER BOOKS | 100 | 0 | -6,701 | 429 | 498,215 |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| RECEIPTS* | 245,783 | 520,064 | | | 2,091,792 |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| TRANSFERS BETWEEN ACCOUNTS | -245,883 | -520,064 | | | 0 |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| (WITHDRAWAL) OR CONTRIBUTION BY | | | | | |
|| INDIVIDUAL DEBTOR MFR-2 | | | | | 0 |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| CHECKS/OTHER DISBURSEMENTS* | | | 8,409 | | -749,044 |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| RECONCILING ITEMS | | | 66 | | 2,139 |
||--------------------------------------|---------------|--------------|---------------|---------------|----------------|
|| ENDING CASH - PER BOOKS | 0 | 0 | 1,775 | 429 | 1,843,103 |
||======================================|===============|==============|===============|===============|================|
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 ENDED | MONTH ENDED | MONTH ENDED | MONTH ENDED| MONTH ENDED | MONTH ENDED ||
|| INSIDERS: NAME/COMP TYPE | 10/26/2002 | 11/23/2002 | | | | ||
|| | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 1. Angelo Decaro/Gross Salary | | 18,846 | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 2. William Peten/Gross Salary | | 14,230 | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 3. Angelo Decaro/Expenses | | 5,283 | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 4. | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 5. | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 6. | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| TOTAL INSIDERS (MOR-1) | 0 | 38,359 | 0 | 0 | 0 | 0 ||
||=================================|=============|=============|=============|============|=============|=============||
||=================================|=============|=============|=============|============|=============|=============||
|| | MONTH ENDED | MONTH ENDED | MONTH ENDED | MONTH ENDED| MONTH ENDED | MONTH ENDED ||
|| PROFESSIONALS | 10/26/2002 | 11/23/2002 | | | | ||
|| | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 1. | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 2. | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 3. | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 4. | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 5. | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| 6. | | | | | | ||
||---------------------------------|-------------|-------------|-------------|------------|-------------|-------------||
|| TOTAL PROFESSIONALS (MOR-1) | 0 | 0 | 0 | 0 | 0 | 0 ||
||=================================|=============|=============|=============|============|=============|=============||
MOR-9 Revised 07/01/98