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Title: |
Monthly Operating Report |
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Date: |
2005 |
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Preview shows 12KB of 85KB total |
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$50 |
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ID: |
#1429778 |
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UNITED STATES BANKRUPTCY COURT
NORTHERN DISTRICT OF CALIFORNIA
In re:FreshCChoice,EInc Case No. 04-54318 (ASW)
------------------
485 Cochrane Circle
Morgan Hill, CA 95037 CHAPTER 11
MONTHLY OPERATING REPORT
(GENERAL BUSINESS CASE)
--------------------------------------------------------------------------------
SUMMARY OF FINANCIAL STATUS
MONTH ENDED: 08/07/05 (1) PETITION DATE: 07/12/04
---------- --------------
1. Debtor in possession (or trustee) hereby submits this Monthly Operating
Report on the Accrual Basis of accounting (or if checked here _____ the
Office of the U.S. Trustee or the Court has approved the Cash Basis of
Accounting for the Debtor).
Dollars reported $1
<TABLE>
<CAPTION>
End of Current End of Prior As of Petition
2. Asset and Liability Structure Month Month Filing
----- ----- ------
<S> <C> <C> <C>
a. Current Assets $ 3,058,426 $ 3,478,907
-------------- --------------
b. Total Assets $ 17,210,490 $ 17,612,632 $ 22,899,629
-------------- -------------- --------------
c. Current Liabilities $ 6,118,431 $ 6,677,484
-------------- --------------
d. Total Liabilities $ 18,520,323 $ 19,127,922 $ 19,707,707
-------------- -------------- --------------
Cumulative
3. Statement of Cash Receipts & Disbursements Current Month Prior Month Case to Date
-------------- -------------- --------------
a. Total Receipts $ 4,874,982 $ 4,944,805 $ 975,563,347
-------------- -------------- --------------
b. Total Disbursements $ 5,378,770 $ 4,752,760 $ 774,758,877
-------------- -------------- --------------
c. Excess (Deficiency) of Receipts Over Disbursements (a - b) $ (503,788) $ 192,045 $ 804,470
-------------- -------------- --------------
e. Cash Balance Beginning of Month $ 2,632,733 $ 2,440,688
-------------- --------------
f. Cash Balance End of Month (c + d) $ 2,128,945 $ 2,632,733
-------------- --------------
Cumulative
Current Month Prior Month Case to Date
4. Profit/(Loss) from the Statement of Operations $ 205,456 $ (99,523) $ (8,006,323)
-------------- -------------- --------------
5. Account Receivables (Pre and Post Petition) $ 116,546 $ 90,638
-------------- --------------
6. Post-Petition Liabilities $ 7,605,710 $ 8,181,480
-------------- --------------
7. Past Due Post-Petition Account Payables (over 30 days) $ - $ -
-------------- --------------
At the end of this reporting month: Yes No
--- --
8. Have any payments been made on pre-petition debt, other than payments in the normal X
course to secured creditors or lessors? (if yes, attach listing including date of -------------- --------------
payment, amount of payment and name of payee) (see note 2)
9. Have any payments been made to professionals? (if yes, attach listing X
including date of payment, amount of payment and name of payee) -------------- --------------
10. If the answer is yes to 8 or 9, were all such payments approved by the court? X
-------------- --------------
11. Have any payments been made to officers, insiders, shareholders, relatives?
(if yes, attach listing including date of payment, amount and reason for
payment, and name of payee) 12. Is the estate insured for replacement cost X
of assets and for general liability? -------------- --------------
13. Are a plan and disclosure statement on file? X
-------------- --------------
14. Was there any post-petition borrowing during this reporting period? X
-------------- --------------
15. Check if paid: Post-petition Taxes |X|; U.S. Trustee Quarterly Fees |X|
Check if filing is current for: Post-petition tax reporting and tax returns |X|
(Attach explanation if post-petition taxes or U. S. Trustee Quarterly Fees are
not paid , or tax return filings are not current.)
</TABLE>
Notes:
(1) The Debtor's financial statements are not maintained on a calendar month
end, they are maintained by period -- each with 4 weeks. The financial
statements represented in this Monthly Operating Report cover the four-week
period from July 11, 2005 through August 7, 2005. The petition was filed on
(2) On July 12, 2004 and July 14, 2004, this court entered certain orders
authorizing, but not requiring, the debtor to pay certain pre- petition
obligations including: accrued employee wages, salaries and contributions
to employee benefit's plan, the debtor's share of certain payroll taxes,
pre-petition sales, use and similar taxes in the ordinary course of
business.
(3) Adjustments were made due to year end for Period 13, 2004. See note 4 on
Statement of Operations and note 5 on Balance Sheet for further detail. I
declare under penalty of perjury I have reviewed the above summary and
attached financial statements, and after making reasonable inquiry believe
these documents are correct.
Date: 08/22/05 /s/ David Pertl
----------------- ---------------------------------
David Pertl
<PAGE>
STATEMENT OF OPERATIONS (General Business Case)
For the Month Ended 08/07/05
<TABLE>
<CAPTION>
Current Month Cumulative Next Month
---------------------------------------
Actual Forecast Variance Case to Date Forecast
----------- ------------ ----------- ----------------------------
<C> <C> <C> <C> <C> <C>
Revenues:
$4,657,669 $4,641,112 $ 16,557 1 Gross Sales $66,410,501 $4,473,252
----------- ------------ ----------- ------------- ------------
$ - 2 less: Sales Returns & Allowances
----------- ------------ ----------- ------------- ------------
$4,657,669 $4,641,112 $ 16,557 3 Net Sales $66,410,501 $4,473,252
----------- ------------ ----------- ------------- ------------
less: Cost of Goods Sold (Note 1)(Schedule
$2,531,625 $2,535,279 $ 3,654 4 'B') $38,567,344 $2,486,594
----------- ------------ ----------- ------------- ------------
$2,126,044 $2,105,833 $ 20,211 5 Gross Profit $27,843,157 $1,986,658
----------- ------------ ----------- ------------- ------------
$ 4,670 $ 4,670 6 Interest $ 21,741 $ 4,000
----------- ------------ ----------- ------------- ------------
$ 848 $ 848 7 Other Income: $ 4,924
----------- ------------ ----------- ------------- ------------
$ - 8
----------- ------------ ----------- ----------------------- ------------- ------------
$ - $ - 9
----------- ------------ ----------- ----------------------- ------------- ------------
$2,131,562 $2,105,833 $ 25,729 10 Total Revenues $27,869,822 $1,990,658
----------- ------------ ----------- ------------- ------------
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