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Title: |
Monthly Operating Report |
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Date: |
2004 |
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Preview shows 12KB of 68KB total |
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$44 |
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ID: |
#1429814 |
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<TEXT>
UNITED STATES BANKRUPTCY COURT
NORTHERN DISTRICT OF CALIFORNIA
In re: FreshAChoice,]Inc 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: 10/03/04 (1) PETITION DATE: 07/12/04
-------- --------
<TABLE>
<CAPTION>
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 in$1
End of Current End of Prior As of Petition
2. Asset and Liability Structure Month Month Filing
----- ----- ------
<S> <C> <C>
a. Current Assets $ 7,013,514 $ 7,275,576
----------------- ----------------
b. Total Assets $ 23,320,210 $ 23,772,691 $ 22,899,629
----------------- ---------------- ----------------
c. Current Liabilities $ 6,436,066 $ 5,178,983
----------------- ----------------
d. Total Liabilities $ 21,205,966 $ 21,102,802 $ 19,707,707
----------------- ---------------- ----------------
3. Statement of Cash Receipts & Disbursements Current Month Prior Month Cumulative
Case to Date
a. Total Receipts $ 5,345,847 $ 5,919,007 $ 17,188,354
----------------- ---------------- ----------------
b. Total Disbursements $ 5,469,159 $ 5,662,600 $ 15,988,816
----------------- ---------------- ----------------
c. Excess (Deficiency) of Receipts $ (123,312) $ 256,407 $ 61,199,538
Over Disbursements (a - b) ----------------- ---------------- ----------------
e. Cash Balance Beginning of Month $ 2,647,325 $ 2,390,918
----------------- ----------------
f. Cash Balance End of Month (c + d) $ 2,524,013 $ 2,647,325
----------------- ----------------
Current Month Prior Month Cumulative
4. Profit/(Loss) from the Statement Case to Date
of Operations $ (567,959) $ (792,003) $ (4,582,007)
----------------- ---------------- ----------------
5. Account Receivables $ 167,791 $ 159,237
(Pre and Post Petition) ----------------- ---------------
6. Post-Petition Liabilities $ 8,327,338 $ 5,132,499
----------------- ---------------
7. Past Due Post-Petition Account $ - $ -
Payables (over 30 days) ----------------- ---------------
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
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 course to secured creditors or lessors? (if yes, attach X
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 X
listing 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 X
by the court? ---------------- ----------------
11. Have any payments been made to officers, insiders, shareholders, relatives? X
(if yes, X attach listing including date of payment, amount and reason ---------------- ----------------
for payment, and name of payee)
12. Is the estate insured for replacement cost of assets and for X
general liability? X ---------------- ----------------
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
--- ---
Check if filing is current for: Post-petition tax reporting and tax returns X
---
</TABLE>
(Attach explanation if post-petition taxes or U. S. Trustee Quarterly
Fees are not paid , or tax return filings are not current.) U.S.
Trustee Quarterly Fees are not due until October 2004.
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 September 6, 2004 through October 3, 2004. The
petition was filed on July 12, 2004, so all of the activity is
post-petition.
(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.
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: 10/22/04 By: /s/ David Pertl
------------------- --------------------------------
David Pertl
<PAGE>
<TABLE>
<CAPTION>
STATEMENT OF OPERATIONS (General Business Case)
For the Month Ended 10/03/04
----------------
Current Month Cumulative Next Month
------------------------------------------------------ Case to Date Forecast
Actual Forecast Variance --------------------------
------ -------- -------- Revenues:
<S> <C> <C> <C> <C> <C> <C>
$4,913,379 $4,814,177 $ 99,202 1 Gross Sales $15,875,189 $4,806,039
------------------------------------------------------ --------------------------
$ - 2 less: Sales Returns & Allowances
------------------------------------------------------ --------------------------
$4,913,379 $4,814,177 $ 99,202 3 Net Sales $15,875,189 $4,806,039
------------------------------------------------------ --------------------------
$2,981,328 $2,811,692 $(169,636) 4 less: Cost of Goods $ 9,172,093 $2,938,657
------------------------------------------------------ Sold (Note 1)(Schedule 'B') --------------------------
$1,932,051 $2,002,485 $ (70,434) 5 Gross Profit $ 6,703,096 $1,904,317
------------------------------------------------------ --------------------------
$ - $ - $ - 6 Interest $ - $ -
------------------------------------------------------ --------------------------
$ - $ - 7 Other Income: $ 316 $ -
------------------------------------------------------ --------------------------
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