EX-99.1 3 a2080747zex-99_1.htm EX-99.1
QuickLinks -- Click here to rapidly navigate through this document


Exhibit 99.1

UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
OFFICE OF THE US TRUSTEE – REGION 3

In re: eToys, Inc.

Case No. 01-00706 (MFW)
Reporting Period: 04/01/02-04/30/02

MONTHLY OPERATING REPORT
File with Court and submit copy to United States Trustee within 20 days after end of month

        Submit copy of report to any official committee appointed in the case

Required Documents
  Form No.
  Document
Attached

  Explanation
Attached

Schedule of Cash Receipts and Disbursements   MOR-1   X    
  Bank Reconciliation (or copies of debtor's bank reconciliations)   MOR-1 (CON'T)   X    
  Copies of bank statements       X    
  Cash disbursements journals       X    
Statement of Operations   MOR-2   X    
Balance Sheet   MOR-3   X    
Status of Postpetition Taxes   MOR-4   X    
  Copies of IRS Form 6123 or payment receipt           X
  Copies of tax returns filed during reporting period       X    
Summary of Unpaid Postpetition Debts   MOR-4   X    
  Listing of aged accounts payable       X    
Accounts Receivable Reconciliation and Aging   MOR-5   X    
Debtor Questionnaire   MOR-5   X    

        I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.



Signature of Debtor

 


Date


Signature of Joint Debtor

 


Date

/s/  
BARRY GOLD CEO      
Signature of Authorized Individual

 

5/18/02

Date

Barry Gold

Printed Name of Authorized Individual

 

CEO & PRESIDENT

Title of Authorized Individual

*    Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.


In re: eToys, Inc.

Case No. 01-00706 (MFW)

Attachment to Monthly Operating Report (MOR cover page):

      Copies of IRS Form 6123 or Payment Receipt
      All payroll taxes are impounded by the independent payroll service therefore payment receipt is not available.

  Copies of Tax Returns Filed During the Reporting Period    
  Federal Form 941 filed 04/30/2002    
  California Form DE3DV2 filed 04/30/2002    

In re: eToys, Inc.   Case No. 01-00706 MFW
Reporting Period 04/01/02-04/30/02

MOR-1
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

        Amounts reported should be per the debtor's books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the "CURRENT MONTH-ACTUAL" columns must equal the sum of the bank account columns. The amount reported in the "PROJECTED" columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM-IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for cash account.

 
  Pre-petition
5300152165

  DIP
General
2180039271

  Payroll
5300155253

  UBOC CD
2869003059

  UBOC MM
2860113492

  UBOC MM
2860113506

  UBOC CD
2189005826

  UBOC MM
2860113522

  UBOC CD
2189000603

  UBOC CD
2869003034

  WFB
Cert. Of Dep.

  UBOC CD
2189003821

CASH BEGINNING OF MONTH   -   1,722.38   (1,742.93 ) -   0.00   0.00   0.00   40,115.15   0.00   0.00   0.00   0.00

CASH SALES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
ACCOUNTS RECEIVABLE                                            
LOANS AND ADVANCES                                                
SALE OF ASSETS                                                
DUE FROM LLC                                                
OTHER (attach list)                                                
TRANSFER FROM DISTRIBUTION LLC                                                
TRANSFER FROM CD                                                
TRANSFERS FROM MONEY MARKET                                                
TRANSFERS FROM DIP GENERAL           8,000.00                                    
INTEREST                               17.57                
TOTAL RECEIPTS   -   -   8,000.00   -   -   0.00   0.00   17.57   0.00   0.00   0.00   0.00
DISBURSEMENTS                                                
NET PAYROLL                                                
PAYROLL TAXES           (6,189.46 )                                  
SALES,USE,& OTHER TAXES                                                
INVENTORY PURCHASES                                                
SECURED/RENT/LEASES                                                
INSURANCE                                                
ADMINISTRATIVE       (832.08 )                                      
SELLING                                                
OTHER (attach list)                                                
PRE-PETITION EXPENSES (NOTE 1)                                                
OWNER DRAW                                                
TRANSFERS                                                
  Transfer to LLC DIP                                                
  Transfer to PR                                                
  Transfer to CD                                                
  Transfer to DIP General                                                
  Transfer to Money Market                                                
PROFESSIONAL FEES                                                
U.S. TRUSTEE QUARTERLY FEES                                                
COURT COSTS                                                
TOTAL DISBURSEMENTS   0.00   (832.08 ) (6,189.46 ) 0.00   0.00   0.00   0.00   0.00   0.00   0.00   0.00   0.00

NET CASH FLOW

 

0.00

 

(832.08

)

1,810.54

 

0.00

 

0.00

 

0.00

 

0.00

 

17.57

 

0.00

 

0.00

 

0.00

 

0.00

CASH END OF MONTH

 

0.00

 

890.30

 

67.61

 

0.00

 

0.00

 

0.00

 

0.00

 

40,132.72

 

0.00

 

0.00

 

0.00

 

0.00

NOTE 1 - PAYMENTS MADE TO CRITICAL VENDORS AND EMPLOYEE REIMBURSEMENTS PURSUANT TO FIRST DAY ORDER

NOTE 2 - ACCOUNTS RECEIVABLE COLLECTIONS ON BEHALF OF ETOYS DISTRIBUTION LLC (CASE NO. 01-00707).

        THE FOLLOWING SECTION MUST BE COMPLETED

TOTAL DISBURSEMENTS    
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS    
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES    
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES    

Page 1 of 2


In re: eToys, Inc.   Case No. 01-00706 MFW
Reporting Period 04/01/02-04/30/02

MOR-1 con't
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

 
  UBOC CD
2869002614

  UBOC CD
2869002770

  UBOC CD
2869002754

  UBOC CD
2869003042

  UBOC CD
5309026234

  UBOC CD
5309028479

  UBOC Stock
5300161903

  WFB
060-8526315

  BOA DIP General
3755524511

  BOA Payroll
3755524537

  BOA MM
3755524508

  Total
 
CASH BEGINNING OF MONTH   0.00   0.00   0.00   0.00   187,500.00   0.00   0.00   0.00   14,135.69   3,995.73   41,401,897.24   41,647,623.26  

CASH SALES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

0.00

 
ACCOUNTS RECEIVABLE (NOTE 2)                                   875.67           875.67  
LOANS AND ADVANCES                                               0.00  
SALE OF ASSETS                                   151,000.00           151,000.00  
DUE FROM LLC                                               0.00  
OTHER (attach list)                                   11,987.98           11,987.98  
TRANSFERS — SWEEP ACCOUNT                                               0.00  
TRANSFER FROM CD                                               0.00  
TRANSFERS FROM MONEY MARKET                                   600,000.00           600,000.00  
TRANSFERS FROM DIP GENERAL                                       31,000.00       39,000.00  
INTEREST                                           76,063.14   76,080.71  
TOTAL RECEIPTS   0.00   0.00   0.00   0.00   0.00   0.00   0.00   0.00   763,863.65   31,000.00   76,063.14   878,944.36  
                                                   
DISBURSEMENTS                                                  
NET PAYROLL                                       (22,750.10 )     (22,750.10 )
PAYROLL TAXES                                       (9,941.67 )     (16,131.13 )
SALES,USE,& OTHER TAXES                                               0.00  
INVENTORY PURCHASES                                               0.00  
SECURED/RENT/LEASES                                   (8,688.86 )         (8,688.86 )
INSURANCE                                   (1,423.14 )         (1,423.14 )
ADMINISTRATIVE                                   (14,392.29 ) (1,284.18 )     (16,508.55 )
SELLING                                               0.00  
OTHER (attach list)                                               0.00  
PRE-PETITION EXPENSES (NOTE 1)                                               0.00  
OWNER DRAW                                               0.00  
TRANSFERS                                               0.00  
  Transfer to LLC DIP                                   (10,000.00 )         (10,000.00 )
  Transfer to PR                                   (39,000.00 )         (39,000.00 )
  Transfer to CD                                               0.00  
  Transfer to DIP General                                           (600,000.00 ) (600,000.00 )
  Transfer to Money Market                                               0.00  
PROFESSIONAL FEES                                   (447,698.73 )         (447,698.73 )
U.S. TRUSTEE QUARTERLY FEES                                   (4,250.00 )         (4,250.00 )
COURT COSTS                                               0.00  
TOTAL DISBURSEMENTS   0.00   0.00   0.00   0.00   0.00   0.00   0.00   0.00   (525,453.02 ) (33,975.95 ) (600,000.00 ) (1,166,450.51 )

NET CASH FLOW

 

0.00

 

0.00

 

0.00

 

0.00

 

0.00

 

0.00

 

0.00

 

0.00

 

238,410.63

 

(2,975.95

)

(523,936.86

)

(287,506.15

)

CASH END OF MONTH

 

0.00

 

0.00

 

0.00

 

0.00

 

187,500.00

 

0.00

 

0.00

 

0.00

 

252,546.32

 

1,019.78

 

40,877,960.38

 

41,360,117.11

 

NOTE 1 — PAYMENTS MADE TO CRITICAL VENDORS AND EMPLOYEE REIMBURSEMENTS PURSUANT TO FIRST DAY ORDER

NOTE 2 — ACCOUNTS RECEIVABLE COLLECTIONS ON BEHALF OF ETOYS DISTRIBUTION LLC (CASE NO. 01-00707).

        THE FOLLOWING SECTION MUST BE COMPLETED

TOTAL DISBURSEMENTS   $ 1,166,450.51  
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS   $ (649,000.00 )
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES   $    
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES   $ 517,450.51  

Page 2 of 2


In re: eToys, Inc.   Case No. 01-00706 (MFW)
Reporting Period: 04/01/02-04/30/02


MOR-1 Cont'd
BANK RECONCILIATIONS

The debtor in possession must complete the reconciliation below for each bank account including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary.

A.   Bank:   Union Bank
  Union Bank
  Union Bank
  Union Bank
  Union Bank
B.   Account No.:   2180039271   5300155253   5300161903   2860113506   2869002945
C.   Purpose (Type):   DIP General   Payroll   Stock   Money Market   Time Deposit

1.

 

Balance per Bank Statement

 

 

 

$

1,262.77

 

 

 

$

33,382.23

 

 

 

$

-

 

 

 

$

-

 

 

 

$

-
2.   (+) Deposit in Transit                                                  
3.   (-) Outstanding Checks         (372.47 )       (33,314.62 )                            
4.   Other                   -                              
5.   Month End Balance per Books       $ 890.30       $ 67.61       $ -       $ -       $ -
6.   Number of Last Check Written         20560         605628                              
                                                          
DEPOSITS IN TRANSIT   Date
  Amount
  Date
  Amount
  Date
  Amount
  Date
  Amount
  Date
  Amount
              none         none         none         none   not applicable
                                                          
CHECKS OUTSTANDING   Ck#
  Amount
  Ck#
  Amount
  Ck#
  Amount
  Ck#
  Amount
  Ck#
  Amount
                        SEE
ATTACHED
LIST
        none         none   not applicable
        20454     230.00                                        
        20495     120.00                                        
        300005     14.99                                        
        300011     7.48                                        

Total Checks Outstanding

 

 

 

$

372.47

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER

* - The Debtor has voluntarily restricted cash approximating $55,000. Please see Note 3 to the Unaudited Financial Statements.

Page 1 of 4


In re: eToys, Inc.   Case No. 01-00706 (MFW)
Reporting Period: 04/01/02-04/30/02


MOR-1 Cont'd
BANK RECONCILIATIONS

The debtor in possession must complete the reconciliation below for each bank account including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary.

A.   Bank:   Union Bank
  Union Bank
  Union Bank
  Union Bank
  Union Bank
B.   Account No.:   2869003042   2860113492   5309026234   2869003034   2860113522 *
C.   Purpose (Type):   Time Deposit   Money Market   Time Deposit   Time Deposit   Time Deposit

1.

 

Balance per Bank Statement

 

 

 

$

-

 

 

 

$

-

 

 

 

$

187,500.00

 

 

 

$

-

 

 

 

$

40,132.72
2.   (+) Deposit in Transit                                                  
3.   (-) Outstanding Checks                                                  
4.   Other Reconciling Items                                                  
5.   Month End Balance per Books       $ -       $ -       $ 187,500.00       $ -       $ 40,132.72
6.   Number of Last Check Written                                                  
                                                          
DEPOSITS IN TRANSIT   Date
  Amount
  Date
  Amount
  Date
  Amount
  Date
  Amount
  Date
  Amount
        not applicable   not applicable   not applicable   not applicable   not applicable
                                                          
CHECKS OUTSTANDING   Ck#
  Amount
  Ck#
  Amount
  Ck#
  Amount
  Ck#
  Amount
  Ck#
  Amount
        not applicable   not applicable   not applicable   not applicable   not applicable

OTHER

* - The Debtor has voluntarily restricted cash approximating $55,000. Please see Note 3 to the Unaudited Financial Statements.

Page 2 of 4


In re: eToys, Inc.   Case No. 01-00706 (MFW)
Reporting Period: 04/01/02-04/30/02


MOR-1 Cont'd
BANK RECONCILIATIONS

The debtor in possession must complete the reconciliation below for each bank account including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary.

A.   Bank:   Wells Fargo
  Wells Fargo
  Union Bank
  Union Bank
  Union Bank
B.   Account No.:               060-8526315     2869002614     5309028479     2869002754
C.   Purpose (Type):     Cert of Deposit     Credit Card     Time Deposit     Time Deposit     Time Deposit

1.

 

Balance per Bank Statement

 

$

 

 

-

 

$

 

 

-

 

$

 

 

-

 

$

 

 

-

 

$

 

 

-
2.   (+) Deposit in Transit                                                  
3.   (-) Outstanding Checks                                                  
4.   Other Reconciling Items                                                  
5.   Month End Balance per Books   $     -   $     -   $     -   $     -   $     -
6.   Number of Last Check Written                                                  
                                                          
DEPOSITS IN TRANSIT   Date
  Amount
  Date
  Amount
  Date
  Amount
  Date
  Amount
  Date
  Amount
          not applicable     not applicable     not applicable     not applicable     not applicable
                                                          
CHECKS OUTSTANDING   Ck#
  Amount
  Ck#
  Amount
  Ck#
  Amount
  Ck#
  Amount
  Ck#
  Amount
          not applicable     not applicable     not applicable     not applicable     not applicable

OTHER

* - The Debtor has voluntarily restricted cash approximating $55,000. Please see Note 3 to the Unaudited Financial Statements.

Page 3 of 4


In re: eToys, Inc.   Case No. 01-00706 (MFW)
Reporting Period: 04/01/02-04/30/02


MOR-1 Cont'd
BANK RECONCILIATIONS

The debtor in possession must complete the reconciliation below for each bank account including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary.

A.   Bank:   Union Bank
  Bank of America
  Bank of America
  Bank of America
  Total
 
B.   Account No.:   2869002770   3755524511   3755524537   375524508            
C.   Purpose (Type):   Time Deposit   DIP General   Payroll   Money Market            
1.   Balance per Bank Statement       $ -       $ 267,140.00       $ 7,307.17       $ 40,877,960.38       $ 41,414,685.27  
2.   (+) Deposit in Transit                                                 0.00  
3.   (-) Outstanding Checks                   (14,593.68 )       (6,287.39 )                 (54,568.16 )
4.   Other Reconciling Items                                                 0.00  
5.   Month End Balance per Books       $ -       $ 252,546.32       $ 1,019.78       $ 40,877,960.38       $ 41,360,117.11  
6.   Number of Last Check Written                   20668         800004                      
                                                            
DEPOSITS IN TRANSIT   Date
  Amount
  Date
  Amount
  Date
  Amount
  Date
  Amount
           
        not applicable   none   none   not applicable            
CHECKS OUTSTANDING   Ck#
  Amount
  CK#
  Amount
  CK#
  Amount
  Ck#
  Amount
           
        not applicable                       not applicable            
                  20662     800.00   Debit     140.10                      
                  20663     22.02   Debit     112.14                      
                  20664     3,750.00   Debit     139.18                      
                  20665     250.00   700008     852.09                      
                  20666     250.00   700009     1,156.69                      
                  20667     832.80   800004     3,887.19                      
                  20668     8,688.86                                
                      $ 14,593.68       $ 6,287.39                      

OTHER

* - The Debtor has voluntarily restricted cash approximating $55,000. Please see Note 3 to the Unaudited Financial Statements.

Page 4 of 4


In re: eToys, Inc.   Case No. 01-00706 (MFW)

UNION BANK PAYROLL ACCOUNT
OUTSTANDING CHECKS
April 30, 2002

CHECKNUM

  CHECK DATE
  NET
AMOUNT

00010024   03/01/01   2,145.48
00020077   03/01/01   123.34
00031164   03/01/01   948.84
00031165   03/01/01   4,065.28
00031232   03/01/01   90.34
00040393   03/01/01   4,281.94
00040394   03/01/01   299.40
00305692   03/06/01   37.50
00305700   03/06/01   2,764.29
00305770   03/06/01   1,036.41
00305827   03/06/01   80.47
00305837   03/06/01   171.40
00305839   03/06/01   171.49
00305844   03/06/01   91.45
00305845   03/06/01   86.17
00305847   03/06/01   37.49
00305848   03/06/01   133.66
00305854   03/06/01   293.66
00305876   03/06/01   180.08
00305883   03/06/01   125.27
00305914   03/06/01   191.95
00305919   03/06/01   248.56
00305923   03/06/01   119.62
00305937   03/06/01   117.48
00305943   03/06/01   148.29
00305945   03/06/01   294.50
00305968   03/06/01   316.55
00305972   03/06/01   281.38
00305976   03/06/01   140.70
00305977   03/06/01   290.34
00305999   03/06/01   281.38
00306003   03/06/01   183.15
00306004   03/06/01   316.56
00306005   03/06/01   309.53
00603580   03/06/01   65.07
00603850   03/06/01   442.62
00603862   03/06/01   484.70
00603931   03/06/01   330.82
00603935   03/06/01   363.49
00603945   03/06/01   218.40
00603949   03/06/01   126.61
00603950   03/06/01   123.11
00603988   03/06/01   133.64
00603990   03/06/01   191.40
00020086   03/09/01   218.07

In re: eToys, Inc.   Case No. 01-00706 (MFW)

UNION BANK PAYROLL ACCOUNT
OUTSTANDING CHECKS
April 30, 2002

CHECKNUM

  CHECK DATE
  NET
AMOUNT

00604003   03/16/01   59.10
00604048   03/16/01   87.94
00031401   03/23/01   423.15
00604154   03/23/01   365.22
00031415   03/28/01   3.28
00604319   03/30/01   271.09
00604354   03/30/01   456.52
00604454   04/06/01   295.27
00306068   04/13/01   803.58
00306084   04/13/01   2,513.04
00604630   04/13/01   950.67
00604650   04/13/01   629.01
00604654   04/13/01   1,402.64
00306125   04/20/01   28.11
00306149   04/20/01   33.59
00306157   04/20/01   48.90
00306161   04/20/01   228.66
00306162   04/20/01   19.22
00306189   04/20/01   84.74
00040593   05/04/01   1,205.91
00031426   05/18/01   303.10
       
        33,314.62
       

In re: eToys, Inc.   Cash Disbursements
April 2002
  Case No. 01-00706 (MFW)
Date

  Num
  Name
  Amount
04/02/2002   20637   COHEN, STEFFANIE J   49.69
04/02/2002   20638   GOLD, BARRY   1,900.99
04/02/2002   20639   RECALL-INFORMATION MNT   221.70
04/04/2002   20640   COHEN, ELLEN   580.00
04/05/2002   20641   MORRIS, NICHOLS, ARSHT & TUNNELL   91,005.48
04/09/2002   20642   COLLATERAL LOGISTICS, INC   4,000.00
04/09/2002   20643   FEDERAL EXPRESS   161.96
04/09/2002   20644   TRAUB, BONACQUIST & FOX, LLP   62,141.05
04/09/2002   20645   VERIZON CALIFORNIA   111.01
04/09/2002   20646   YOUNG, BYNNE   973.50
04/09/2002   20647   RECALL-INFORMATION MNT   244.64
04/12/2002   20648   COHEN, NORMA   640.00
04/12/2002   20649   RICHARD CARTOON, LLC   25,490.80
04/12/2002   20650   STATE COMPENSATION INSURANCE FUND   1,423.14
04/16/2002   20651   ARTER-RODRIGUEZ, DENISE   1,103.13
04/16/2002   20652   FEDERAL EXPRESS   32.66
04/16/2002   20653   RODRIGUEZ, RAY   180.00
04/16/2002   20654   CROSSROADS, LLC  
04/16/2002   20655   CROSSROADS, LLC  
04/16/2002   20656   CROSSROADS, LLC   260,172.45
04/22/2002   20657   BANKRUPTCY MANAGEMENT CORPORATION   8,888.95
04/22/2002   20658   COHEN, NORMA   800.00
04/22/2002   20659   FEDERAL EXPRESS   17.86
04/23/2002   20660   YOUNG, BYNNE   1,554.90
04/23/2002   20661   RIGHT CLICK LLC   25.00
04/29/2002   20662   COHEN, NORMA   800.00
04/29/2002   20663   FEDERAL EXPRESS   22.02
04/30/2002   20664   U.S. TRUSTEE   3,750.00
04/30/2002   20665   U.S. TRUSTEE   250.00
04/30/2002   20666   U.S. TRUSTEE   250.00
04/30/2002   20667   YOUNG, BYNNE   832.80
04/30/2002   20668   REGUS BUSINESS CENTRES CORP.   8,688.86
04/30/2002   AUTO   BANK OF AMERICA   140.43
04/25/2002   AUTO   Union Bank of California   832.08
           
        Subtotal   477,285.10
           
        ADD: Payroll Disbursements (see attached)   40,165.41
           
        Total Disbursements   517,450.51
           

Page 1 of 1


In re: eToys, Inc.   CASH DISBURSEMENTS
PAYROLL ACCOUNT
April 2002
  Case No. 01-00706 (MFW)
CHECKNUM

  CHECK DATE
  NET
AMOUNT

  NET
CHECKS

  PAYROLL
TAXES

  FEES
FEES   04/01/2002   116.36           116.36
700002   04/05/2002   852.09   852.09        
700003   04/05/2002   760.17   760.17        
TAXES   04/05/2002   1,027.66       1,027.66    
FEES   04/08/2002   133.81           133.81
700004   04/12/2002   852.10   852.10        
700005   04/12/2002   961.13   961.13        
FEES   04/12/2002   131.54           131.54
TAXES   04/12/2002   1,230.42       1,230.42    
700006   04/19/2002   708.13   708.13        
700007   04/19/2002   1,058.92   1,058.92        
TAXES   04/19/2002   1,192.71       1,192.71    
FEES   04/19/2002   139.18           139.18
700008   04/26/2002   852.09   852.09        
700009   04/26/2002   1,156.69   1,156.69        
TAXES   04/26/2002   1,438.62       1,438.62    
FEES   04/26/2002   147.19           147.19
FEES   04/30/2002   81.41           81.41
       
           
TOTAL DISBURSEMENTS-eToys, Inc.   12,840.22            
       
           
FEES   04/01/2002   91.18           91.18
800001   04/05/2002   3,887.19   3,887.19        
TAXES   04/05/2002   1,965.70       1,965.70    
FEES   04/08/2002   104.86           104.86
TAXES   04/12/2002   1,965.68       1,965.68    
800002   04/12/2002   3,887.20   3,887.20        
FEES   04/12/2002   106.41           106.41
800003   04/19/2002   3,887.20   3,887.20        
TAXES   04/19/2002   1,965.68       1,965.68    
TAXES   04/19/2002   3,378.96       3,378.96    
FEES   04/19/2002   114.00           114.00
800004   04/26/2002   3,887.19   3,887.19        
TAXES   04/26/2002   1,965.70       1,965.70    
FEES   04/26/2002   118.24           118.24
       
           
TOTAL DISBURSEMENTS-LLC   27,325.19            
       
 
 
 
TOTAL DISBURSEMENTS       40,165.41   22,750.10   16,131.13   1,284.18
       
 
 
 

Page 1 of 1


In re: eToys, Inc.       Case No. 01-00706(MFW)

MOR-1 ATTACHMENT
OTHER RECEIPTS
APRIL 2002

Payer

Description
Amount
Date

B.W. VENTURES, INC.

SUBLEASE INCOME

10,901.37

4/18/2002
CON-WAY TRANSPORTATION REFUND 398.34 4/18/2002
STATE OF NEW YORK REFUND 419.00 4/18/2002
UNITED STATES TREASURY REFUND 150.00 4/18/2002
UNITED STATES TREASURY REFUND 7.75 4/18/2002
CIGNA HEALTH CORP. REFUND 19.06 4/26/2002
STATE OF NEW YORK REFUND 92.46 4/26/2002










 
 
Total   $11,987.98  
   
 

In re: eToys, Inc.   Case No. 00706 (MFW)

STATEMENT OF OPERATIONS (MOR-2)
March 7 through April 30, 2002 and One Month Ended April 30, 2002
UNAUDITED

 
  Mar 7, '01 - Apr 30, '02
  Apr '02
Ordinary Income/Expense        
  Income        
      Liquidation Proceeds        
        Cancellation of Debt   330,679.40   0.00
        Loss on Disposal of Assets   -27,927,357.20   0.00
        Refunds Received   16,316.49   398.34
        Liquidation Proceeds - Other   868,881.86   16,000.00
   
 
      Total Liquidation Proceeds   -26,711,479.45   16,398.34
   
 
    Total Income   -26,711,479.45   16,398.34
   
 
  Gross Profit   -26,711,479.45   16,398.34
    Expense        
      Advertising   10,845.34   0.00
      Bank Service Charges   137,904.52   221.84
      Dues and Subscriptions   731.47   0.00
      Employee Benefits   316,813.19   -19.06
      Equipment Leases   241,371.47   0.00
      Insurance   788,894.28   1,423.14
      Licenses and Permits   3,348.02   0.00
      Miscellaneous   2,612.33   25.00
      Moving Expense   9,686.00   0.00
      Office Relocation Expense   37,333.00   0.00
      Outside Services   166,235.00   668.08
      Parking   61,228.02   0.00
      Payroll Taxes   81,081.00   859.21
      Postage and Delivery   10,188.19   310.94
      Professional Fees        
        Accounting   4,249.94   0.00
        Legal Fees   13,868.94   0.00
   
 
      Total Professional Fees   18,118.88   0.00
      Rent   413,219.49   8,688.86
      Repairs        
        Building Repairs   186.06   0.00
        Computer Repairs   271,873.90   0.00
        Equipment Repairs   561.60   0.00
   
 
      Total Repairs   272,621.56   0.00
      Salaries & Wages        
        Vacation Expense   19,748.25   0.00
        Salaries & Wages - Other   1,382,329.21   11,231.52
   
 
      Total Salaries & Wages   1,402,077.46   11,231.52
      Sales Tax   25,388.98   0.00
      Supplies        
        Office   9,723.28   0.00
        Supplies - Other   337.91   0.00
   
 
      Total Supplies   10,061.19   0.00
      Taxes        
        State   1,800.00   0.00
        Taxes - Other   18,916.28   -661.46
   
 
      Total Taxes   20,716.28   -661.46
      Telephone        
        Communications Expense   119,779.56   0.00

    See accompanying Notes To Financial Statements   Page 1 of 2

In re: eToys, Inc.   Case No. 00706 (MFW)

STATEMENT OF OPERATIONS (MOR-2)
March 7 through April 30, 2002 and One Month Ended April 30, 2002
UNAUDITED

        Telephone - Other   100,184.51   111.01
   
 
      Total Telephone   219,964.07   111.01
      Temporary Help   2,820.00   2,820.00
      Travel & Ent        
        Meals   301.98   0.00
        Travel   15,791.03   2,285.32
        Travel & Ent - Other   58,080.24   0.00
   
 
      Total Travel & Ent   74,173.25   2,285.32
   
 
      Total Utilities   -531.16   0.00
   
 
    Total Expense   4,326,901.83   27,964.40
   
 
Net Ordinary Income   -31,038,381.28   -11,566.06
Other Income/Expense        
    Other Income        
      Interest Income   1,038,212.03   76,080.71
      Miscellaneous Income   1,624.91   0.00
      Other Income   2,791,620.97   0.00
   
 
    Total Other Income   3,831,457.91   76,080.71
    Other Expense        
      Reorganization Expenses        
        Other Reorganization Expenses        
          Post-Petition Payments        
            Asset Management        
            Commission   85,800.00   4,000.00
            Asset Management - Other   424,947.05   0.00
   
 
            Total Asset Management   510,747.05   4,000.00
            IT Consulting Services   6,732.50   0.00
            Legal Notices/Publication   62,609.51   0.00
            Miscellaneous Expense   5,557.36   832.08
            Record Storage   10,564.62   701.34
   
 
          Total Post-Petition Payments   596,211.04   5,533.42
          Pre-Petition Payments        
            Employee Reimbursements   6,020.71   0.00
            Exp Deducted - Sec Dep   6,600.00   0.00
            Other Critical Vendors   8,588.84   0.00
            Payroll   535,337.53   0.00
            Sales & Other Taxes   85,469.07   0.00
   
 
          Total Pre-Petition Payments   642,016.15   0.00
          Provision for Restructuring Chg   108,853,000.00   0.00
   
 
        Total Other Reorganization Expenses   110,091,227.19   5,533.42
        Outside Services   85,873.85   6,814.28
        Professional Fees   5,239,923.24   27,958.73
        U.S. Trustees Fees   34,250.00   4,250.00
   
 
      Total Reorganization Expenses   115,451,274.28   44,556.43
   
 
    Total Other Expense   115,451,274.28   44,556.43
   
 
  Net Other Income   -111,619,816.37   31,524.28
   
 
Net Loss/Income   -142,658,197.65   19,958.22
   
 

    See accompanying Notes To Financial Statements   Page 2 of 2

In re: eToys, Inc.   Case No. 01-00706(MFW)

Balance Sheet (MOR-3)
As of April 30, 2002
UNAUDITED

 
  Apr 30, '02
ASSETS    
  Current Assets    
    Cash    
      Restricted Cash   55,132.72
      Unrestricted Cash   41,304,984.39
   
    Total Cash   41,360,117.11
    Other Current Assets    
      Other Liquidated Debts    
        129000 - A/R Other   100,000.00
        152000 - Prepaid Marketing   100,000.00
        159000 - Prepaid Other   120,436.37
        241000 - Deposits   30,000.00
   
      Total Other Liquidated Debts   350,436.37
   
    Total Other Current Assets   350,436.37
   
  Total Current Assets   41,710,553.48
  Fixed Assets    
    FF&E    
      202000 - Office Equipment   -30,000.00
   
    Total FF&E   -30,000.00
   
  Total Fixed Assets   -30,000.00
  Other Assets    
    I/C Receivables - Post Petition    
      251000 POST - Due From Dist LLC   -13,099,543.78
   
    Total I/C Receivables - Post Petition   -13,099,543.78
    I/C Receivables Pre-Petition    
      251500 - Due From eToys Dist   1,687,315.60
      255000 - Due From eToys Europe   1,199,104.33
   
    Total I/C Receivables Pre-Petition   2,886,419.93
    Intangible Assets    
      231000 - Goodwill   100,000.00
   
    Total Intangible Assets   100,000.00
   
  Total Other Assets   -10,113,123.85
   
TOTAL ASSETS   31,567,429.63
   
LIABILITIES & EQUITY    
  Liabilities    
    Current Liabilities    
      Post-Petition Liabilities    
        Accounts Payable   250,523.58
        340000 - Accrued Prof Fees   1,565,105.89
   
    Total Current Liabilities   1,815,629.47
    Long Term Liabilities    
      Liabs Subject to Compromise    
        Priority Claims    
          303000P - Gift Certificates   646,521.86
          304500P - Employee Benefits   29,570.00
          311000P - Taxing Authority   137,259.00
          332000P - Employee Comp Liab   216,252.06
   
        Total Priority Claims   1,029,602.92
        Secured Claims    
          351000 - Capital Lease Oblgns   9,255,313.94
          352000 - L-T Notes Payable   1,107,131.33
   
        Total Secured Claims   10,362,445.27
        Unsecured Claims    
          300000 - Accounts Payable   20,803,196.06
          326000 - Agreement   2,583,268.44
          327000 - Contract   93,805.00
          328000 - Litigation   51,899.52
          331000 - Web Affiliate   185,120.00
          332000 - Employee Comp   615,562.49
          335000 - Accrued Interest Pyble   2,670,000.75
          351000 - Equipment Lease   1,666,630.92
          353000 - Subordinated N/P   150,000,000.00
   
        Total Unsecured Claims   178,669,483.18
   
      Total Liabs Subject to Compromise   190,061,531.37
   
    Total Long Term Liabilities   190,061,531.37
   
  Total Liabilities   191,877,160.84
   
  Total Equity   -160,309,731.21
   
TOTAL LIABILITIES & EQUITY   31,567,429.63
   

    See accompanying Notes To Financial Statements   Page 1 of 1

In re: eToys, Inc.
Debtor
  Case No. 01-00706 (MFW)
Reporting Period: 04/01/02-04/30/02

Notes to Unaudited Financial Statements (MOR - 2, 3)
As of April 30, 2002
UNAUDITED

NOTE 1 -   Basis of Presentation

 

 

As the Company is being liquidated, assets are carried at estimated fair market value which has been determined using the best information available to management. There can be no assurance that amounts to be realized from the liquidation of the Company's assets will equal the estimated fair market value.

 

 

Creditors' claims against the Company are still being evaluated and as of this time the fair market value of such claims has not been established. Accordingly, no adjustment to pre-petition liabilities has been recorded. (See Notes 4 and 5)

NOTE 2 -

 

Provision For Restructuring and Asset Impairment

 

 

Due to the Company's filing for Chapter 11 protection and the determination that there were no ready buyers for the Company, the Company's assets are being sold and the Company will be liquidated. Cash expected to be realized from the liquidation of the Company's assets is expected to be considerably less than cost basis. Accordingly, management has prepared an estimate of net realizable values and charged a provision to statement of operations and established a reserve on the Company's balance sheet. In January 2002, the provision was increased by $11,000,000. This reserve has now been used to recognize losses and anticipated losses on remaining assets, writing assets down to estimated fair market value as of January 31, 2002. There can be no assurance that this reserve is adequate to cover the losses actually realized upon asset sales.

NOTE 3 -

 

Restricted Cash

 

 

The Company has set aside $40,000 in a separate account and reserved an additional $15,000 in a non-segregated account. These amounts represent proceeds from the sale of certain equipment in which purported secured lenders claim an interest, and have been earmarked for satisfaction of those claims if and to the extent allowed. The Company reserves all rights, claims, defenses and counter claims.

NOTE 4 -

 

Contingent Liabilities - Administrative Claims

 

 

On December 7, 2001, the bar date for the filing of administrative claims passed. Prior to the bar date, administrative claims totaling approximately $17,611,000 were filed against eToys, Inc. The Company is undertaking a review and reconciliation of the administrative claims filed, a process that has not yet been completed. Based on a preliminary review of the administrative claims filed, it appears that some actually duplicate pre-petition unsecured claims and some involve lease rejection claims, which would not be properly classified as Administrative Claims. Until the reconciliation process is complete, and claims objections heard by the Court, the Debtor can make no representations or provide any assurances regarding the Administrative Claims, which would be paid ahead of any distribution to pre-petition creditors.

In re: eToys, Inc.
Debtor
  Case No. 01-00706 (MFW)
Reporting Period: 04/01/02-04/30/02

Notes to Unaudited Financial Statements (MOR - 2, 3)
As of March 31, 2002
UNAUDITED
(Continued)


NOTE 5 -

 

Contingent Liabilities

 

 

As a result of the cessation of business operations, numerous contingent liability claims for items such as operating and capital leases and executory contracts have arisen and are substantial. Liabilities currently recognized on the balance sheet reflect only going concern liabilities, and will be adjusted, where appropriate, for contingent liabilities as claims are researched, validated and quantified.

 
 
   
In re: eToys, Inc   Case No. 01-00706 (MFW)
                Debtor   Reporting Period: 04/01/02-04/30/02

MOR-4
STATUS OF POSTPETITION TAXES

The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero. Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes. Attach photocopies of any tax returns filed during the reporting period.

 
  Beginning
tax
Liability

  Amount withheld or Actual
  Amount Paid
  Date
paid

  Check No.
  Ending Tax Liability
FEDERAL                        
Withholding   0.00   2,358.04   2,358.04   April 5, 12, 19, & 26   Note 1   0.00
FICA-Employer   0.00   859.21   859.21   April 5, 12, 19, & 26   Note 1   0.00
FICA-Employee   0.00   859.21   859.21   April 5, 12, 19, & 26   Note 1   0.00
Tax Adjustment   0.00   0.00   0.00           0.00
Tax Refund   0.00   0.00   0.00           0.00
Unemployment   0.00   0.00   0.00           0.00
Income   0.00   0.00   0.00           0.00
Other:   0.00   0.00   0.00           0.00
  Total Federal Taxes   0.00   4,076.46   4,076.46           0.00
STATE AND LOCAL                        
Withholding   0.00   812.95   812.95   April 5, 12, 19, & 26   Note 1   0.00
Sales   0.00   0.00   0.00           0.00
Excise   0.00   0.00   0.00           0.00
Unemployment   0.00   0.00   0.00           0.00
Real Property   0.00   0.00   0.00           0.00
Personal Property   0.00   0.00   0.00           0.00
Other:   0.00   0.00   0.00           0.00
  Total State and Local   0.00   812.95   812.95           0.00

Total taxes

 

0.00

 

4,889.41

 

4,889.41

 

 

 

 

 

0.00

Note 1 - All payroll taxes are impounded by the independent payroll service on or about the date of each payroll and remitted to the appropriate agencies.


SUMMARY OF UNPAID POSTPETITION DEBTS

Attach aged listing of accounts payable.

 
  Number of Days Past Due
 
  Current
  1-30
  31-60
  61-90
  >90
  Total
Accounts payable   311.44   2,554.28   -   -   247,657.86   250,523.58
Wages payable                        
Taxes Payable                        
Rent/Lease-Equipment                        
Secured Debt/Adequate Protection Payments                        
Professional Fees                       1,565,105.89
Amounts Due to Insiders*                        
Other: Deposit Liabilities                        
Other:                        
Total Postpetition Debts                       1,815,629.47
Explain how and when the Debtor intends to pay any past-due postpetition debts.
Debtor has adequate funds available to pay post-petition obligations. However, payments to some vendors have been delayed

pending resolution of disputed balances and adjudication of motions for allowance of administrative claims.

 

 

* "Insider" is defined in 11 U.S.C. Section 101 (31).


Form 941
(Rev. January 2002)
Department of the Treasury
Internal Rev. Service (99)
  Employer's Quarterly Federal Tax Return
See separate instructions revised January 2002 for information on completing this return.
Please type or print
           
Enter state
code for state
in which
deposits were
made only if
different from
state in
address to
the right      >      CA
(see page
2 of
instructions).
 

Name (as distinguished from trade name)
E TOYS INC
Trade name, if any,



Address (number and street)
600 Corporate Point
 

Date quarter ended
03/31/2002

Employer indentification number
95-4633006

City, state and zip code
Culver City    CA 90230
  OMB No. 1545-0029
T
FF
FD
FP
I
T
        1   1   1   1   1   1   1   1   1   1       2       3   3   3   3   3   3   3   3       4   4   4       5   5   5
       
     
     
     
     
If address is                                                                                                                        
different   IRS  
from prior   Use                                                                                                                    
return, check      
     
     
     
     
here      >      o       6       7       8   8   8   8   8   8   8   8       9   9   9   9   9       10   10   10   10   10   10   10   10   10   10

If you do not have to file returns in the future, check here            and enter date final wages paid

If you are a seasonal employer, see Seasonal employers on page 1 of the instructions and check here

1   Number of employees in the pay period that includes March 12th   1   2  
2   Total wages and tips, plus other compensation   2   39084.48
3   Total income tax withheld from wages, tips, and sick pay   3   8428.08
4   Adjustment of withheld income tax for preceding quarters of calendar year   4   0.00

5

 

Adjusted total of income tax withheld (line 3 as adjusted by line 4—see instructions)

 

5

 

8428.08
6   Taxable social security wages   6a   $   39084.48 x 12.4%(.124) =   6b   4846.48
    Taxable social security tips   6c   $           0.00 x 12.4%(.124) =   6d   0.00
7   Taxable Medicare wages and tips   7a   $   39084.48 x  2.9%(.029) =   7b   1133.45
8   Total social security and Medicare taxes (add lines 6b, 6d, and 7b). Check here if wages are not subject to social security and/or Medicare tax   8   5979.93
9   Adjustment of social security and Medicare taxes (see instructions for required explanation)        
    Sick
Pay
  +/- Fractions of Cents           $0.01   +/- Other   9   0.01

10

 

Adjusted total of social security and Medicare taxes (line 8 as adjusted by line 9—see instructions)

 

10

 

5979.94

11

 

Total taxes (add lines 5 and 10)

 

11

 

14408.02

12

 

Advance earned income credit (EIC) payments made to employees.

 

12

 

0.00

13

 

Net taxes (subtract line 12 from line 11). If $2,500 or more, this must equal line 17, column (d) below (or line D of Schedule B (Form 941))

 

13

 

14408.02

14

 

Total deposits for quarter, including overpayment applied from a prior quarter

 

14

 

14408.02

15

 

Balance due (subtract line 14 from line 13). See instructions

 

15

 

0.00

16

 

Overpayment, if line 14 is more than line 13, enter excess here

 

0.00

 

 

 

 
    and check if to be:   Applied to next return   OR       Refunded.            

 

 

• All filers: If line 13 is less than $2,500, you need not complete line 17 or Schedule B (Form 941).

 

 

 

 
    • Semiweekly schedule depositors: Complete Schedule B (Form 941) and check here       X
    • Monthly schedule depositors: Complete line 17, columns (a) through (d), and check here        

17

 

Monthly Summary of Federal Tax Liability. Do not complete if you were a semiweekly schedule depositor.

 

 

 

 
(a) First month liability   (b) Second month liability   (c) Third month liability   (d) Total liability for quarter
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete.
Sign
Here
  Signature   /s/ E SLOUSTCHER   Print your
Name & Title
  Eilan Sloustcher
ATTORNEY-IN-FACT
  Date 04/30/02

For Paperwork Reduction Act Notice, see back of Payment Voucher.   Cat. No. 170OIZ   Form 941 (Rev. 1-2002)

SCHEDULE B
(FORM 941)
(Rev. January 2002)
  Employer's Record of Federal Tax Liability

See Circular E for more information about employment tax returns.
 
OMB No. 1545-0029
Department of Treasury   5151    
Internal Rev Service   Attach to Form 941 or Form 941-SS.    

Name as shown on Form 941 (Form 941-SS)
E-TOYS INC.

 

Employer identification number
95-4633006

 

Date quarter ended
03/31/2002

You must complete this schedule if you are required to deposit on a semiweekly schedule, or if your tax liability on any day is $100,000 or more. Show tax liability here, not deposits. (The IRS gets deposit data from FTD coupons or EFTPS.)

A. Daily Tax Liability—First Month of Quarter

1

 

 

 

8

 

 

 

15

 

 

 

22

 

 

 

29

 

 

2

 

 

 

9

 

 

 

16

 

 

 

23

 

 

 

30

 

 

3

 

 

 

10

 

 

 

17

 

 

 

24

 

 

 

31

 

 

4

 

1195.10

 

11

 

1025.20

 

18

 

961.51

 

25

 

1136.55

 

 

 

 

5

 

 

 

12

 

 

 

19

 

 

 

26

 

 

 

 

 

 

6

 

 

 

13

 

 

 

20

 

 

 

27

 

 

 

 

 

 

7

 

 

 

14

 

 

 

21

 

 

 

28

 

 

 

 

 

 

A Total tax liability for first month of quarter

 

 

 

 

 

A

 

4318.36

B. Daily Tax Liability—Second Month of Quarter

1

 

1136.55

 

8

 

1195.12

 

15

 

1195.10

 

22

 

1195.10

 

29

 

 

2

 

 

 

9

 

 

 

16

 

 

 

23

 

 

 

30

 

 

3

 

 

 

10

 

 

 

17

 

 

 

24

 

 

 

31

 

 

4

 

 

 

11

 

 

 

18

 

 

 

25

 

 

 

 

 

 

5

 

 

 

12

 

 

 

19

 

 

 

26

 

 

 

 

 

 

6

 

 

 

13

 

 

 

20

 

 

 

27

 

 

 

 

 

 

7

 

 

 

14

 

 

 

21

 

 

 

28

 

 

 

 

 

 

B Total tax liability for second month of quarter

 

 

 

 

 

B

 

4721.87

C. Daily Tax Liability—Third Month of Quarter

1

 

702.04

 

8

 

1195.12

 

15

 

1195.08

 

22

 

1195.14

 

29

 

1080.41

2

 

 

 

9

 

 

 

16

 

 

 

23

 

 

 

30

 

 

3

 

 

 

10

 

 

 

17

 

 

 

24

 

 

 

31

 

 

4

 

 

 

11

 

 

 

18

 

 

 

25

 

 

 

 

 

 

5

 

 

 

12

 

 

 

19

 

 

 

26

 

 

 

 

 

 

6

 

 

 

13

 

 

 

20

 

 

 

27

 

 

 

 

 

 

7

 

 

 

14

 

 

 

21

 

 

 

28

 

 

 

 

 

 

C Total tax liability for third month of quarter

 

 

 

 

 

C

 

5367.79

D Total for quarter (add lines A, B, and C). This should equal line 13 of Form 941 (or line 10 of Form 941-SS)

 

D

 

14408.02

For Paperwork Reduction Act Notice, see page 2.

 

Cat. No. 11967Q

 

Schedule B (Form 941)(Rev. 1-2002)

EDD Serving the People of California   QUARTERLY CONTRIBUTION RETURN
PLEASE TYPE THIS FORM — DO NOT ALTER PREPRINTED INFORMATION
  Approved Extension To

You must FILE this return even though you had no payroll. If no payroll show "0" in item B,
check no payment enclosed box on envelope. Please sign the declaration on line K.


QUARTER
ENDED
  03/31/2002   DUE   04/30/02   DELINQUENT IF
NOT POSTMARKED
OR RECEIVED BY
  04/30/02   YR
2002
  QTR
1
   
     
     
       

o    CHECK THIS BLOCK if changes are reported on the Request For Change form-refer to third page.

    Employer Account No.
   
    430-7537-3
   
E TOYS INC  
600 Corporate Point
12th Floor
  DO NOT ALTER THIS AREA
   
    P1   P2   C   P   U   S   W   A
Culver City            CA    90230  

 

 

 

 

 

 

Mo.

 

Day

 

Yr.

 

WIC
           
 
    EFFECTIVE   =   =   =            
                        FEIN        95-4633006   DATE  
 

A.   NUMBER OF EMPLOYEES earning wages during or receiving pay for the pay periods that include the 12th day of the calendar month (enter numerals only). Please complete all fields. Blank fields will be identified as missing data.   1st
Month
 
2
  2nd
Month
 
2
  3rd
Month
 
2
B.   TOTAL SUBJECT WAGES PAID THIS QUARTER   (B)   39084   48

C.

 

UNEMPLOYMENT INSURANCE TAXABLE WAGES (UI)
(Individual Employee Wages to $7,000.00 per calendar year)

 

(C)

 

14000

 

00

D.

 

DISABILITY INSURANCE TAXABLE WAGES (DI)
(Individual Employee Wages to $46,327.00 per calendar year)

 

 

 

 

 

 

 

 

BREAKDOWN OF ITEM D

 

(D1 Voluntary Plan)
0.00

 

PLUS

 

(D2 State Plan)
39,084.48

 

=(D3)

 

39084

 

48

E.

 

EMPLOYER'S UI CONTRIBUTIONS

 

4.900

 

    % Times C

 

(E)

 

686

 

00

E1.

 

EMPLOYMENT TRAINING TAX

 

0.100

 

    % Times C

 

(E1)

 

14

 

00

F.

 

EMPLOYEE CONTRIBUTIONS (SDI)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

WITHHELD

 

0.900 % Times D2

 

(F1) SDI Employee Contribution
351.76

 

LESS

 

(F2) DI Previously Paid This Quarter
351.76

 

=(F3)

 

0

 

00

G.

 

CALIFORNIA PERSONAL INCOME TAX (PIT) WITHHELD

 

(G1) Total Employee PIT Withheld
2,554.14

 

LESS

 

(G2) PIT Previously Paid This Quarter
2,554.14

 

=(G3)

 

0

 

00

H.

 

ADJUSTMENT TO PRIOR QUARTERS - A DE 938, Quarterly Report Adjustment Form, must be attached

 

(H)

 

0

 

00

J.

 

SUBTOTAL (Add Items E, E1, F3, G3 and H)

 

(J)

 

700

 

00

K.

 

DI VOLUNTARY PLAN ASSESSMENT

 

0.000

 

    % Times D1

 

(K)

 

0

 

00

L.

 

TAXES DUE THIS QUARTER (Add Items J & K)

 

(L)

 

700

 

00

Make check payable to EMPLOYMENT
DEVELOPMENT DEPARTMENT
INCLUDE EMPLOYER ACCOUNT NUMBER ON CHECK.

 

Bank No.                                    
DO NOT STAPLE CHECK TO RETURN

 

 

 

DEPT
USE

FOURTH QUARTER


M.

 

CALIFORNIA PERSONAL INCOME TAX (PIT) WITHHELD - PIT WITHHELD PER FORMS W-2 AND/OR 1099-R

 

0.00

HELP US IMPROVE THE QUALITY OF OUR EMPLOYMENT TAX SERVICES. PLEASE RATE OUR CURRENT SERVICES BY ENTERING THE APPROPRIATE NUMBER IN THE BOX:
4 = EXCELLENT          3 = GOOD          2 = FAIR          1 = POOR
  4

BE SURE TO SIGN THIS DECLARATION. I DECLARE that the information herein is true and correct to the best of my knowledge and belief.

Signature   /s/ E SLOUSTCHER   Title   PROBUSINESS/ATTORNEY-IN-FACT   Phone   925-737-3151   Date   04/30/02
   
     
(Owner, Accountant, Preparer, etc.)
     
     

ý Check this block if individual employees' wages are reported on magnetic media instead of on wage detail forms.

SEE INSTRUCTIONS THE BACK OF THIS FORM

DE 3D Rev. 9 (1-97) State of California / Employment Development Department / P.O. Box 826847 / Sacramento, CA 94247-0001


In re: eToys, Inc.   eToys, Inc.
Accounts Payable Aging Report
As of April 30, 2002
  Case No.  01-00706 MFW
 
  Current
  1 - 30
  31 - 60
  61 - 90
  > 90
  TOTAL
  BANC ONE LEASING CORPORATION   0.00   0.00   0.00   0.00   52,099.87 (1) 52,099.87
  COMDISCO INC.   0.00   0.00   0.00   0.00   146,955.01 (1) 146,955.01
  DE LAGE LANDEN   0.00   0.00   0.00   0.00   28,488.04 (1) 28,488.04
  FEDERAL EXPRESS   76.44   0.00   0.00   0.00   0.00   76.44
  MERRILL COMMUNICATIONS LLC   0.00   2,554.28   0.00   0.00   0.00   2,554.28
  RECALL-INFORMATION MNT   235.00   0.00   0.00   0.00   0.00   235.00
  VERIZON CALIFORNIA   0.00   0.00   0.00   0.00   20,114.94 (2) 20,114.94
   
 
 
 
 
 
TOTAL   311.44   2,554.28   0.00   0.00   247,657.86   250,523.58
   
 
 
 
 
 

Notes:

(1)    Lease - In the > 90 day column, $227,542.92 represents post-petition lease payments which are the subject of ongoing negotiations and motions for allowance of administrative claims.

(2)    Amount in the > 90 day column represents disputed amounts for data transmission services.


In re: eToys, Inc.   Case No. 01-00706 (MFW)
Reporting Period 04/01/02-04/30/02

MOR-5
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

Accounts Receivable Reconciliation

  Amount
Total Accounts Receivable at the beginning of the reporting period   $ 100,000.00
(+) Amounts billed during the period      
(-) Amounts collected during the period      
(-) Other adjustments      
Total Accounts Receivable at the end of the reporting period   $ 100,000.00

Accounts Receivable Aging

 

 

 
0-30 days old   $  
31-60 days old      
61-90 days old      
91 + days old     100,000.00
Total Accounts Receivable   $ 100,000.00
Amount considered uncollectible (Bad Debt)      
Accounts Receivable (Net)   $ 100,000.00

DEBTOR QUESTIONNAIRE

Must be completed each month

  Yes
  No
1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, Provide an explanation below.   X    
2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below.       X
3. Have all postpetition tax returns been timely filed? If no, provide an explanation below.   X    
4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below.   X    

1. Assets/inventory and/or scrap was sold outside the normal course of business as a result of

the company operating in a liquidation process.







UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
OFFICE OF THE US TRUSTEE – REGION 3

In re: eToys Distribution LLC   Case No. 01-00707 (MFW)
Reporting Period: 04/01/02-04/30/02

MONTHLY OPERATING REPORT
File with Court and submit copy to United States Trustee within 20 days after end of month

        Submit copy of report to any official committee appointed in the case

Required Documents
  Form No.
  Document
Attached

  Explanation Attached
Schedule of Cash Receipts and Disbursements   MOR-1   X    
  Bank Reconciliation (or copies of debtor's bank reconciliations)   MOR-1 (CON'T)   X    
  Copies of bank statements       X    
  Cash disbursements journals       X    
Statement of Operations   MOR-2   X    
Balance Sheet   MOR-3   X    
Status of Postpetition Taxes   MOR-4   X    
  Copies of IRS Form 6123 or payment receipt           X
  Copies of tax returns filed during reporting period       X    
Summary of Unpaid Postpetition Debts   MOR-4   X    
  Listing of aged accounts payable       X    
Accounts Receivable Reconciliation and Aging   MOR-5   X    
Debtor Questionnaire   MOR-5   X    

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.


Signature of Debtor
 
Date

 

 

 

Signature of Joint Debtor
 
Date

 

 

 
/s/  BARRY GOLD CEO      
Signature of Authorized Individual
  5/18/02
Date

 

 

 
Barry Gold
Printed Name of Authorized Individual
  PRESIDENT & CEO
Title of Authorized Individual

* Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.


In re: eToys Distribution LLC   Case No. 01-00707 (MFW)

        Attachment to Monthly Operating Report (MOR cover page):

    Copies of IRS Form 6123 or Payment Receipt
All payroll taxes are impounded by the independent payroll service therefore payment receipt is not available.

 

 

Copies of Tax Returns Filed During the Reporting Period
    Federal Form 941 filed    04/30/2002    
    California Form DE 3 DV2 filed    04/30/2002    
    Pennsylvania Form UC-2 filed    04/30/2002    
    Pennsylvania Form PA-W3 filed    04/30/2002    

In re: eToys Distribution LLC   Case No. 01-00707 MFW
  Debtor   Reporting Period 04/01/02-04/30/02

MOR-1
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor's books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the "CURRENT MONTH-ACTUAL" column must equal the sum of the four bank account columns. The amounts reported in the "PROJECTED" columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM-IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for the cash account.

 
  UBOC

  BofA
Acct No.
375552-4540

  Union Bank
Acct No.
2180039778

  BofA
Acct No.
1459-2-08325

   
 
 
  Pre-petition
  Total
 
CASH BEGINNING OF MONTH   0.00   1,797.78   2.39   0.00   1,800.17  
                       
CASH SALES                   0.00  
ACCOUNTS RECEIVABLE                   0.00  
LOANS AND ADVANCES                   0.00  
SALE OF ASSETS                   0.00  
DUE FROM LLC                   0.00  
OTHER (attach list)                   0.00  
TRANSFERS - SWEEP ACCOUNT                   0.00  
TRANSFERS FROM eTOYS INC MM                   0.00  
TRANSFERS FROM PRE-PETITION                   0.00  
TRANSFERS FROM eTOYS INC DIP       10,000.00           10,000.00  
INTEREST                   0.00  
TOTAL RECEIPTS   0.00   10,000.00   0.00   0.00   10,000.00  

DISBURSEMENTS

 

 

 

 

 

 

 

 

 

 

 
NET PAYROLL                   0.00  
PAYROLL TAXES                   0.00  
SALES,USE,& OTHER TAXES                   0.00  
INVENTORY PURCHASES                   0.00  
SECURED/RENT/LEASES       (2,666.68 )         (2,666.68 )
INSURANCE                   0.00  
ADMINISTRATIVE       (2,469.85 )         (2,469.85 )
SELLING                   0.00  
OTHER (attach list)                   0.00  
PRE-PETITION EXPENSES *                   0.00  
OWNER DRAW                   0.00  
TRANSFERS                   0.00  
  Transfer to eToys Inc. DIP                   0.00  
  Transfer to PR                   0.00  
  Transfer to CD                   0.00  
  Due to LLC                   0.00  
  Transfer to Pre-petition                   0.00  
PROFESSIONAL FEES                   0.00  
U.S. TRUSTEE QUARTERLY FEES       (500.00 )         (500.00 )
COURT COSTS                   0.00  
TOTAL DISBURSEMENTS   0.00   (5,636.53 ) 0.00   0.00   (5,636.53 )
NET CASH FLOW   0.00   4,363.47   0.00   0.00   4,363.47  
CASH END OF MONTH   0.00   6,161.25   2.39   0.00   6,163.64  

*PAYMENTS MADE TO CRITICAL VENDORS AND EMPLOYEE REIMBURSEMENTS PURSUANT TO FIRST DAY ORDER

    THE FOLLOWING SECTION MUST BE COMPLETED

TOTAL DISBURSEMENTS     5,636.53
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS     0.00
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES   $  
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES     5,636.53

OTHER




Note: All payroll disbursements of eToys Distribution LLC were paid by eToys, Inc. and included in Etoys Inc. MOR-1.


In re: eToys Distribution LLC   Case No. 01-00707 (MFW)
  Debtor   Reporting Period 04/01/02-04/30/02

BANK RECONCILIATIONS
Continuation Sheet for MOR-1

A bank reconciliation must be included for each bank account. The debtor's bank reconciliation may be substituted for this page

 
  Union Bank of Cal.
2180039778

  Bank of America
375552-4540

  Bank of America
1459-2-08325

BALANCE PER BOOKS   $ 2.39   $ 6,161.25   $ -
BANK BALANCE   $ 1,413.91   $ 6,739.53   $ -
(+) DEPOSITS IN TRANSIT (attach list)     -     -   $ -
(-) OUTSTANDING CHECKS (attach list)     (1,411.52 )   (578.28 ) $ -
OTHER (attach list)                  
ADJUSTED BANK BALANCE   $ 2.39   $ 6,161.25   $ -

* Adjusted bank balance must equal balance per books

DEPOSITS IN TRANSIT


  Date
  Amount
  Date
  Amount
  Date
  Amount
  Date
  Amount
    None   None   None        
                                 
                                 
                                 
                                 
                                 
                               
CHECKS OUTSTANDING


  Ck#
  Amount
  Ck#
  Amount
  Ck#
  Amount
  Ck#
  Amount
                        None        
    30261     1,411.52   30331     78.28                
              30332     500.00                
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
Total Outstanding Checks       $ 1,411.52       $ 578.28                

OTHER






In re: eToys Distribution LLC   Cash Disbursements
April 2002
  Case No. 01-00707 (MFW)
Date
  Check
Number

  Name

  Amount
04/02/2002   30327   FIRST PIEDMONT     1,874.94
04/02/2002   30328   SONITROL OF LONG BEACH     254.00
04/12/2002   30329   EZRA BRUTZKUS & GUBNER TRUST ACCOUNT     2,666.68
04/22/2002   30330   PACIFIC BELL     232.05
04/29/2002   30331   EISEN, BENJAMIN     78.28
04/30/2002   30332   U.S. TRUSTEE     500.00
04/30/2002   Auto   BANK OF AMERICA     30.58
           
        TOTAL DISBURSEMENTS   $ 5,636.53
           



 

 
In re: eToys Distribution LLC   Case No. 01-00707(MFW)

Statement of Operations (MOR-2)
March 7, 2001 through April 30, 2002 and One Month Ended April 30, 2002
UNAUDITED

 
  Mar 7, '01-Apr 30, '02
  Apr '02
Ordinary Income/Expense        
  Income        
    Liquidation Proceeds        
      Cancellation of Debt   11,554.62   0.00
      Loss on Disposal of Assets   -38,616,946.27   0.00
      Loss on Settlement of Claims   -522,448.27   0.00
      Other Income   838.20   0.00
      Refunds Received   3,330.35   0.00
      Liquidation Proceeds - Other   2,794,023.34   750.00
   
 
    Total Liquidation Proceeds   -36,329,648.03   750.00
   
 
  Total Income   -36,329,648.03   750.00
  Cost of Goods Sold        
    Cost of Goods Sold   2,044,470.55   0.00
   
 
  Total COGS   2,044,470.55   0.00
   
 
Gross Profit   -38,374,118.58   750.00
  Expense        
    Automobile Expense   715.53   0.00
    Bank Service Charges   30.58   30.58
    Dues and Subscriptions   19.50   0.00
    Equipment Leases   239,682.63   0.00
    Equipment Rental   12,118.76   0.00
    Freight   272,105.65   -125.67
    Miscellaneous   1,443.72   0.00
    Moving Expense   12,050.00   0.00
    Outside Services   6,968.94   534.69
    Payroll taxes   118,864.66   3,713.58
    Postage and Delivery   11,583.41   0.00
    Printing and Reproduction   33.44   0.00
    Rent   2,399,827.72   -7,415.51
    Repairs        
      Computer Repairs   14,599.28   0.00
      Equipment Repairs   3,855.91   0.00
   
 
    Total Repairs   18,455.19   0.00
    Salaries & Wages        
      Vacation Expense   31,316.57   0.00
      Salaries & Wages - Other   1,460,683.38   23,076.92
   
 
    Total Salaries & Wages   1,491,999.95   23,076.92
    Security   134,294.24   581.05
    Supplies        
      Office   162.40   0.00
      Supplies - Other   33,417.58   0.00
   
 
    Total Supplies   33,579.98   0.00
    Taxes        
      Property   107,181.66   0.00
      Taxes - Other   11,066.74   -7.75
   
 
    Total Taxes   118,248.40   -7.75
    Telephone        
    See accompanying Note To Financial Statements   Page 1 of 2

In re: eToys Distribution LLC   Case No. 01-00707(MFW)

Statement of Operations (MOR-2)
March 7, 2001 through April 30, 2002 and One Month Ended April 30, 2002
UNAUDITED

Ordinary Income/Expense        
        Communications Expense   2,356.81   0.00
        Telephone - Other   46,497.54   78.28
   
 
      Total Telephone   48,854.35   78.28
      Temporary Help   117,666.03   0.00
      Travel & Ent        
        Travel   2,370.82   0.00
        Travel & Ent - Other   454.86   0.00
   
 
      Total Travel & Ent   2,825.68   0.00
      Utilities        
        Gas and Electric   261,827.52   0.00
        Water & Trash   11,311.03   1,874.94
        Utilities - Other   20,695.59   -819.18
   
 
      Total Utilities   293,834.14   1,055.76
   
 
    Total Expense   5,335,202.50   21,521.93
   
 
Net Ordinary Income   -43,709,321.08   -20,771.93
Other Income/Expense        
  Other Income        
    Interest Income   5,874.04   0.00
    Other Income   734.65   0.00
   
 
  Total Other Income   6,608.69   0.00
  Other Expense        
    Reorganization Expenses        
        Other Reorganization Expenses        
          Post-Petition Payments        
            Asset Management   64,830.80   0.00
            CLI Liquidation Expenses   196,164.13   0.00
   
 
          Total Post-Petition Payments   260,994.93   0.00
          Pre-Petition Payments        
            Employee Reimbursements   7,780.08   0.00
            Exp Charged - Sec Dep   1,052,398.00   0.00
            Other Critical Vendors   27,523.51   0.00
            Sales & Other Taxes   -2,110.68   0.00
   
 
          Total Pre-Petition Payments   1,085,590.91   0.00
          Provision for Restructuring Chg   43,251,000.00   0.00
   
 
        Total Other Reorganization Expenses   44,597,585.84   0.00
        U.S. Trustees Fees   14,250.00   500.00
   
 
      Total Reorganization Expenses   44,611,835.84   500.00
   
 
    Total Other Expense   44,611,835.84   500.00
   
 
  Net Other Income   -44,605,227.15   -500.00
   
 
Net Loss   -88,314,548.23   -21,271.93
   
 
    See accompanying Note To Financial Statements   Page 2 of 2

In re: eToys Distribution LLC   Case No. 01-00707(MFW)

Balance Sheet (MOR-3)
As of April 30, 2002
UNAUDITED

 
  Apr 30, '02
ASSETS    
  Current Assets    
    Checking/Savings    
      102000 - UBOC DIP ACCOUNT   2.39
      104000 - BOA DIP ACCOUNT   6,161.25
   
    Total Checking/Savings   6,163.64
    Other Current Assets    
      Other Liquidated Debts    
        129000 - A/R Other   65,110.22
        155000 - A/P Debit Balances   50,000.00
   
      Total Other Liquidated Debts   115,110.22
   
    Total Other Current Assets   115,110.22
   
  Total Current Assets   121,273.86
  Other Assets    
    I/C Due to eToys, Inc.   13,099,543.78
    Reserve for Restructuring   -274,718.99
    Security Deposits    
      241000 - Other Security Deposit   50,000.00
   
    Total Security Deposits   50,000.00
   
  Total Other Assets   12,874,824.79
   
TOTAL ASSETS   12,996,098.65
   
LIABILITIES & EQUITY    
  Liabilities    
    Current Liabilities    
      Accounts Payable    
        Accounts Payable   71,752.88
   
      Total Accounts Payable   71,752.88
    Total Current Liabilities   71,752.88
    Long Term Liabilities    
      Liabs Subject to Compromise    
        Priority Claims    
          311000 - Sales and Use Taxes   2,503,620.11
          332000P - Emp Claims Priority   162,969.44
   
        Total Priority Claims   2,666,589.55
        Secured Claims    
          351000 - Capital Lease Oblgtns   11,431,105.14
   
        Total Secured Claims   11,431,105.14
        Unsecured Claims    
          301000 - Accounts Payable   47,997,420.40
          303500 - Equipment Lease   27,443.24
          332000U - Emp. Claims Unsecured   315,417.43
          I/C - Due to eToys, Inc.   65,413,313.98
   
        Total Unsecured Claims   113,753,595.05
   
      Total Liabs Subject to Compromise   127,851,289.74
   
    Total Long Term Liabilities   127,851,289.74
   
  Total Liabilities   127,923,042.62
   
  Total Equity   -114,926,943.97
   
TOTAL LIABILITIES & EQUITY   12,996,098.65
   
    See accompanying notes to Financial Statements.   Page 1 of 1

In re: eToys Distribution LLC
Debtor
  Case No. 01-00707 (MFW)
Reporting Period: 04/01/02-04/30/02

Notes to Unaudited Financial Statements (MOR – 2, 3)
UNAUDITED

NOTE 1 -   Basis of Presentation

 

 

Assets are carried at fair market value which has been determined using the best information available to management. There can be no assurance that amounts to be realized from the liquidation of the Company's assets will equal the estimated realizable value.

 

 

Creditors' claims against the Company are still being evaluated and as of this time the fair market value of such claims has not been established. Accordingly, no adjustment to prepetition liabilities has been recorded. (See Notes 3 and 4)

NOTE 2 -

 

Provision For Restructuring and Asset Impairment

 

 

Due to the Company's filing for Chapter 11 protection and the determination that there were no ready buyers for the Company, the Company's assets are being sold and the Company will be liquidated. Cash expected to be realized from the liquidation of the Company's assets is expected to be considerably less than cost basis. Accordingly, management has prepared an estimate of net realizable values and charged a provision to statement of operations and established a reserve on the Company's balance sheet. This reserve has now been used to recognize losses and anticipated losses on remaining assets. During January 2002, $11,000,000 of the reserve was reversed and transferred to eToys, Inc. There can be no assurance that the remaining reserve is adequate to cover the losses actually realized upon asset sales.

NOTE 3 -

 

Contingent Liabilities - Administrative Claims

 

 

On December 7, 2001, the bar date for the filing of administrative claims passed. Prior to the bar date, administrative claims totaling approximately $1.565,000 were filed against eToys Distribution, LLC. The Company is undertaking a review and reconciliation of the administrative claims filed, a process that has not yet been completed. Based on a preliminary review of the administrative claims filed, it appears that some actually duplicate pre-petition unsecured claims and some involve lease rejection claims, which would not be properly classified as Administrative Claims. Until the reconciliation process is complete, and claims objections heard by the Court, the Debtor can make no representations or provide any assurances regarding the Administrative Claims, which would be paid ahead of any distribution to pre-petition creditors.

NOTE 4 -

 

Contingent Liabilities

 

 

As a result of the cessation of business operations, numerous contingent liability claims for items such as operating and capital leases and executory contracts have arisen and are substantial. Liabilities currently recognized on the balance sheet reflect only going concern liabilities, and will be adjusted, where appropriate, for contingent liabilities as claims are researched, validated and quantified.

In re: eToys Distribution LLC       Case No. 01-00707(MFW)
  Debtor       Reporting Period: 04/01/02-04/30/02

MOR-4
STATUS OF POSTPETITION TAXES

The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero. Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes. Attach photocopies of any tax returns filed during the reporting period.

 
  Beginning tax Liability
  Amount
withheld or Actual

  Amount Paid
  Date paid
  Check No.
  Ending Tax Liability
FEDERAL                        
Withholding   0.00   6,547.36   6,547.36   April 5, 12, 19, & 26   Note 1   0.00
FICA-Employee   0.00   334.62   334.62   April 5, 12, 19, & 26   Note 1   0.00
FICA-Employer   0.00   334.62   334.62   April 5, 12, 19, & 26   Note 1   0.00
Tax Rate Adjustment   0.00   0.00   0.00           0.00
Unemployment   0.00   0.00   0.00           0.00
Income   0.00   0.00               0.00
Other:   0.00   0.00               0.00
  Total Federal Taxes   0.00   7,216.60   7,216.60           0.00
STATE AND LOCAL                        
Withholding   0.00   646.16   646.16   April 5, 12, 19, & 26   Note 1   0.00
Sales   0.00   0.00   0.00           0.00
Excise   0.00   0.00   0.00           0.00
Unemployment   0.00   0.00   0.00           0.00
Real Property   0.00   0.00   0.00           0.00
Personal Property   0.00   0.00   0.00           0.00
Other:   0.00   0.00   0.00           0.00
  Total State and Local   0.00   646.16   646.16           0.00
Total taxes   0.00   7,862.76   7,862.76           0.00

Note 1 - All payroll taxes are impounded by the independent payroll service on or about the date of each payroll and remitted to the appropriate agencies

SUMMARY OF UNPAID POSTPETITION DEBTS

Attach aged listing of accounts payable.

 
  Number of Days Past Due
 
  Current
  1-30
  31-60
  61-90
  >90
  Total
Accounts payable   -   95.00   -   -   71,657.88   71,752.88
Wages payable                        
Taxes Payable                        
Rent/Lease-Equipment                        
Secured Debt/Adequate Protection Payments                        
Professional Fees                        
Amounts Due to Insiders*                        
Other: Vacation Accrual                        
Other: Post Petition Liabilities                        
Total Postpetition Debts                       71,752.88

Explain how and when the Debtor intends to pay any past-due postpetition debts.

Debtor has adequate funds to pay post-petition obligations. However, payments to some vendors have been delayed pending

resolution of disputed balance and adjudication of motions for allowance of administrative claims.

* "Insider" is defined in 11 U.S.C. Section 101(31).

Form 941
(Rev. January 2002)
Department of Treasury
Internal Rev. Service (99)
  Employer's Quarterly Federal Tax Return
See separate instructions revised January 2002 for information on completing this return.
Please type or print
   
           
Enter state
code for state
in which
deposits were
made only if
different from
state in
address to
the right      >      CA
(see page
2 of
instructions).
 

Name (as distinguished from trade name)
ETOYS DISTRIBUTION LLC
Trade name, if any,



Address (number and street)
600 Corporate Point
 

Date quarter ended
03/31/2002

Employer indentification number
    54-1959013

City, state and zip code
Culver City    CA 90230
  OMB No. 1545-0029
T
FF
FD
FP
I
T
        1   1   1   1   1   1   1   1   1   1       2       3   3   3   3   3   3   3   3       4   4   4       5   5   5
       
     
     
     
     
If address is                                                                                                                        
different   IRS  
from prior   Use                                                                                                                    
return, check      
     
     
     
     
here       6       7       8   8   8   8   8   8   8   8       9   9   9   9   9       10   10   10   10   10   10   10   10   10   10

If you do not have to file returns in the future, check here            and enter date final wages paid

If you are a seasonal employer, see Seasonal employers on page 1 of the instructions and check here

1   Number of employees in the pay period that includes March 12th   1   2  
2   Total wages and tips, plus other compensation   2   123300.37
3   Total income tax withheld from wages, tips, and sick pay   3   37129.94
4   Adjustment of withheld income tax for preceding quarters of calendar year   4   0.00

5

 

Adjusted total of income tax withheld (line 3 as adjusted by line 4—see instructions)

 

5

 

37129.94
6   Taxable social security wages   6a   $   98585.00 x 12.4%(.124) =                                   6b   12224.54
    Taxable social security tips   6c   $   0.00 x 12.4%(.124) =                                   6d   0.00
7   Taxable Medicare wages and tips   7a   $   123300.37 x   2.9%(.029) =                                   7b   3575.71
8   Total social security and Medicare taxes (add lines 6a, 6b, and 7b). Check here if wages are not subject to social security and/or Medicare tax   8   15800.25
9   Adjustment of social security and Medicare taxes (see instructions for required explanation)        
    Sick
Pay
  +/- Fractions of Cents           -0.01   Other   9   -0.01

10

 

Adjusted total of social security and Medicare taxes (line 8 as adjusted by line 9—see instructions)

 

10

 

15800.24

11

 

Total taxes (add lines 5 and 10)

 

11

 

52930.18

12

 

Advance earned income credit (EIC) payments made to employees.

 

12

 

0.00

13

 

Net taxes (subtract line 12 from line 11). If $2,500 or more, this must equal line 17, column (d) below (or line D of Schedule B (Form 941)

 

13

 

52930.18

14

 

Total deposits for quarter, including overpayment applied from a prior quarter

 

14

 

52930.18

15

 

Balance due (subtract line 14 from line 13). See instructions

 

15

 

0.00

16

 

Overpayment. If line 14 is more than line 13, enter excess here

 

0.00

 

 

 

 
    and check if to be:   Applied to next return   OR       Refunded.            

 

 

• All filers: If line 13 is less than $2,500, you need not complete line 17 or Schedule B (Form 941).

 

 

 

 
    • Semiweekly schedule depositors: Complete Schedule B (Form 941) and check here       X
    • Monthly schedule depositors: Complete line 17, columns (a) through (d) and check here        

17

 

Monthly Summary of Federal Tax Liability. Do not complete if you were a semiweekly schedule depositor.

 

 

 

 
(a) First month liability   (b) Second month liability   (c) Third month liability   (d) Total liability for quarter
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete.
Sign
Here
  Signature   /s/ E SLOUSTCHER   Print your
Name & Title
  Eilan Sloustcher
ATTORNEY-IN-FACT
  Date 04/30/02

For Privacy Act and Paperwork Reduction Act Notice, see back of Payment Voucher.   Cat. No. 170OFZ   Form 941 (Rev. 1-2002)

SCHEDULE B
(FORM 941)
(Rev. January 2002)
  Employer's Record of Federal Tax Liability

See Circular E for more information about employment tax returns.
 
OMB No. 1545-0029
Department of Treasury   5151    
Internal Rev Service   Attach to Form 941 or Form 941-SS.    

Name as shown on Form 941 (Form 941-SS)
ETOYS DISTRIBUTION LLC

 

Employer identification number
54-1959013

 

Date quarter ended
03/31/2002

You must complete this schedule if you are required to deposit on a semiweekly basis, or if your tax liability on any day is $100,000 or more. Show tax liability here, not deposits. (The IRS gets deposit data from FTD coupons or EFTPS.)

A. Daily Tax Liability—First Month of Quarter

1

 

 

 

8

 

 

 

15

 

 

 

22

 

 

 

29

 

 

2

 

 

 

9

 

 

 

16

 

 

 

23

 

 

 

30

 

 

3

 

 

 

10

 

 

 

17

 

 

 

24

 

 

 

31

 

 

4

 

21168.99

 

11

 

2519.52

 

18

 

3067.83

 

25

 

2884.63

 

 

 

 

5

 

 

 

12

 

 

 

19

 

 

 

26

 

 

 

 

 

 

6

 

 

 

13

 

 

 

20

 

 

 

27

 

 

 

 

 

 

7

 

 

 

14

 

 

 

21

 

 

 

28

 

 

 

 

 

 

A Total tax liability for first month of quarter

 

 

 

 

 

A

 

29640.97

B. Daily Tax Liability—Second Month of Quarter

1

 

2884.63

 

8

 

2884.65

 

15

 

2886.63

 

22

 

2776.74

 

29

 

 

2

 

 

 

9

 

 

 

16

 

 

 

23

 

 

 

30

 

 

3

 

 

 

10

 

 

 

17

 

 

 

24

 

 

 

31

 

 

4

 

 

 

11

 

 

 

18

 

 

 

25

 

 

 

 

 

 

5

 

 

 

12

 

 

 

19

 

 

 

26

 

 

 

 

 

 

6

 

 

 

13

 

 

 

20

 

 

 

27

 

 

 

 

 

 

7

 

 

 

14

 

 

 

21

 

 

 

28

 

 

 

 

 

 

B Total tax liability for second month of quarter

 

 

 

 

 

B

 

11430.65

C. Daily Tax Liability—Third Month of Quarter

1

 

2681.49

 

8

 

2504.29

 

15

 

2703.63

 

22

 

2165.01

 

29

 

1804.14

2

 

 

 

9

 

 

 

16

 

 

 

23

 

 

 

30

 

 

3

 

 

 

10

 

 

 

17

 

 

 

24

 

 

 

31

 

 

4

 

 

 

11

 

 

 

18

 

 

 

25

 

 

 

 

 

 

5

 

 

 

12

 

 

 

19

 

 

 

26

 

 

 

 

 

 

6

 

 

 

13

 

 

 

20

 

 

 

27

 

 

 

 

 

 

7

 

 

 

14

 

 

 

21

 

 

 

28

 

 

 

 

 

 

C Total tax liability for third month of quarter

 

 

 

 

 

C

 

11858.56

D Total for quarter (add lines A, B, and C). This should equal line 13 of Form 941 (or line 10 of Form 941-SS)

 

D

 

52930.18

For Paperwork Reduction Act Notice, see Page 2.

 

Cat. No. 11967Q

 

Schedule B (Form 941)(Rev. 1-2002)

EDD Serving the People of California   QUARTERLY CONTRIBUTION RETURN
PLEASE TYPE THIS FORM — DO NOT ALTER PREPRINTED INFORMATION
  Approved Extension To

You must FILE this return even though you had no payroll. If no payroll show "0" in item B,
check no payment enclosed box on envelope. Please sign the declaration on line K.


QUARTER
ENDED
  03/31/2002   DUE   04/30/02   DELINQUENT IF
NOT POSTMARKED
OR RECEIVED BY
  04/30/02   YR
2002
  QTR
1
   
     
     
       

o    CHECK THIS BLOCK if changes are reported on the Request For Change form-refer to third page.

    Employer Account No.
   
    454-5688-6
   
ETOYS DISTRIBUTION LLC  
600 Corporate Point   DO NOT ALTER THIS AREA
12th Floor  
Culver City            CA    90230   P1   P2   C   P   U   S   W   A
   

 

 

 

 

 

 

Mo.

 

Day

 

Yr.

 

WIC
           
 
    EFFECTIVE   =   =   =            
                        FEIN        54-1959013   DATE  
 

A.   NUMBER OF EMPLOYEES earning wages during or receiving pay for the pay periods that include the 12th day of the calendar month (enter numerals only). Please complete all fields. Blank fields will be identified as missing data.   1st
Month
 
0
  2nd
Month
 
1
  3rd
Month
 
1

B.

 

TOTAL SUBJECT WAGES PAID THIS QUARTER

 

(B)

 

13685

 

00

C.

 

UNEMPLOYMENT INSURANCE TAXABLE WAGES (UI)
(Individual Employee Wages to $7,000.00 per calendar year)

 

(C)

 

7000

 

00

D.

 

DISABILITY INSURANCE TAXABLE WAGES (DI)
(Individual Employee Wages to $46,327.00 per calendar year)

 

 

 

 

 

 

 

 

BREAKDOWN OF ITEM D

 

(D1 Voluntary Plan)
0.00

 

PLUS

 

(D2 State Plan)
13,685.00

 

=(D3)

 

13685

 

00

E.

 

EMPLOYER'S UI CONTRIBUTIONS

 

3.400

 

    % Times C

 

(E)

 

238

 

00

E1.

 

EMPLOYMENT TRAINING TAX

 

0.000

 

    % Times C

 

(E1)

 

0

 

00

F.

 

EMPLOYEE CONTRIBUTIONS (SDI)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

WITHHELD

 

0.900 % Times D2

 

(F1) SDI Employee Contribution
123.17

 

LESS

 

(F2) DI Previously Paid This Quarter
123.17

 

=(F3)

 

0

 

00

G.

 

CALIFORNIA PERSONAL INCOME TAX (PIT) WITHHELD

 

(G1) Total Employee PIT Withheld
790.23

 

LESS

 

(G2) PIT Previously Paid This Quarter
790.23

 

=(G3)

 

0

 

00

H.

 

ADJUSTMENT TO PRIOR QUARTERS - A DE 938, Quarterly Report Adjustment Form, must be attached

 

(H)

 

0

 

00

J.

 

SUBTOTAL (Add Items E, E1, F3, G3 and H)

 

(J)

 

238

 

00

K.

 

DI VOLUNTARY PLAN ASSESSMENT

 

0.000

 

    % Times D1

 

(K)

 

0

 

00

L.

 

TAXES DUE THIS QUARTER (Add Items J & K)

 

(L)

 

238

 

00

Make check payable to EMPLOYMENT
DEVELOPMENT DEPARTMENT
INCLUDE EMPLOYER ACCOUNT NUMBER ON CHECK.

 

Bank No.                                    
DO NOT STAPLE CHECK TO RETURN

 

 

 

DEPT
USE

FOURTH QUARTER


M.

 

CALIFORNIA PERSONAL INCOME TAX (PIT) WITHHELD - PIT WITHHELD PER FORMS W-2 AND/OR 1099-R

 

0.00

HELP US IMPROVE THE QUALITY OF OUR EMPLOYMENT TAX SERVICES. PLEASE RATE OUR CURRENT SERVICES BY ENTERING THE APPROPRIATE NUMBER IN THE BOX:
4 = EXCELLENT          3 = GOOD          2 = FAIR          1 = POOR
  4

BE SURE TO SIGN THIS DECLARATION. I DECLARE that the information herein is true and correct to the best of my knowledge and belief.

Signature   /s/ E SLOUSTCHER   Title   PROBUSINESS/ATTORNEY-IN-FACT   Phone   925-737-3151   Date   04/30/02
   
     
(Owner, Accountant, Preparer, etc.)
     
     

ý Check this block if individual employees' wages are reported on magnetic media instead of on wage detail forms.

SEE INSTRUCTIONS THE BACK OF THIS FORM

DE 3D Rev. 9 (1-97) State of California / Employment Development Department / P.O. Box 826847 / Sacramento, CA 94247-0001


PA Form UC-2, Rev 9-2000, Employer's Report for Unemployment Compensation               QTR/YEAR   1/2002
Read Instructions — Answer Each Item   DUE DATE 04/30/02   1ST MONTH
1
  2ND MONTH
1
  3RD MONTH
1
   
    INV.   EXAMINED BY:        

 

 

Signature certifies that the information contained herein is true and correct to the best of the signer's knowledge.

 

 

 

 

/s/ E. SLOUSTCHER

    10. SIGN HERE-DO NOT PRINT
TITLE ATTORNEY-IN-FACT
  DATE 04/30/2002
  PHONE # 925-737-3151
   

11. FILED          PAPER UC-2A          MAGNETIC MEDIA UC-2A

EMPLOYER'S
CONTRIBUTION RATE
  0.034510       CHECK
DIGIT
   
        APPLIED FOR        

ETOYS DISTRIBUTION LLC
600 Corporate Point
12th Floor
Culver City        CA 90230

1.   TOTAL COVERED EMPLOYEES
IN PAY PERIOD INCL. 12TH OF
MONTH
     
FOR DEPT USE
   

2.

 

GROSS WAGES

 

10961537

 



 

 

3.

 

EMPLOYEE
CONTRIBUTIONS

 

000

 



 

 

4.

 

TAXABLE WAGES
FOR EMPLOYER
CONTRIBUTIONS

 

800000

 



 

 

5.

 

EMPLOYER CONTRI-
BUTIONS DUE
(RATE X ITEM4)

 

27608

 



 

 

6.

 

TOTAL CONTRI-
BUTIONS DUE
(ITEMS 3 + 5)

 

27608

 



 

 

7.

 

INTEREST DUE
SEE INSTRUCTIONS

 

000

 



 

 

8.

 

PENALTY DUE
SEE INSTRUCTIONS

 

000

 



 

 

9.

 

TOTAL
REMITTANCE
(ITEM 6 + 7 + 8)

 

$276.08

 



 

 

MAKE CHECKS PAYABLE TO: PA UC FUND

 

 

ETOYS DISTRIBUTION LLC    

 

 

PA-W3 (9-97)

 

 

 

 

 

 

 

 
PA DEPARTMENT OF REVENUE
  YR/QTR: 02/01   DUE DATE: 04/30/2002    
ENTITY ID# (EIN)
  RECORD OF PA WITHHOLDING TAX BY PERIOD    
54-1959013
  PERIOD ENDING   WITHHOLDING TAX    
ACCOUNT #
  1 15 2002
      1292.31    
9040 05 0
  1 31 2002
      323.08    
TYPE FILER
  2 15 2002
      484.62    
SM
  2 28 2002
      161.54    
INT. RATE
  TAX RATE
  3 15 2002
      484.62    
    
  0.000
  3 31 2002
      323.08    
QUARTER ENDING
               
03/31/2002
  TOTAL AMOUNT WITHHELD
FOR QUARTER
(ENTER HERE & ON LINE 2)
      3069.25    
SEE INSTRUCTIONS ON
PAGE 12
               

EMPLOYER QUARTERLY RETURN
OF WITHHOLDING TAX

 

 

1

TOTAL COMPENSATION
SUBJECT TO PA TAX

 

109615.37

 

 

       
2 TOTAL PA WITHHOLDING TAX   3069.25    

       
3 TOTAL DEPOSITS FOR QUARTER
(INCLUDING VERIFIED OVERPAYMENTS)
  3069.25    

       
4 OVERPAYMENT
(IF LINE 3 IS GREATER THAN LINE 2)
       

       
5 TAX DUE/PAYMENT   $0.00    

       
Only use black or blue ink. Do not use red ink or pencil.    
Do Not Make Corrections To The PREPRINTED Information On This Form.    
Use The Change/Correction Form (REV-1668)   DEPARTMENT USE ONLY
   

 

 



 

 

05011690400500000000200203311100000000000009

Under penalties of perjury, I declare that I have examined this return and to the best of my knowledge and belief, it is true, correct and complete.


    DATE   TELEPHONE NUMBER   TITLE   Signature
00006   04/30/02   925-737-3151   ATTORNEY-IN-FACT   /s/ E. SLOUSTCHER


In re: eToys Distribution LLC   Case No. 01-00707 (MFW)

eToys Distribution LLC
Accounts Payable Aging Report
As of April 30, 2002

 
  Current
  1 - 30
  31 - 60
  61 - 90
  > 90
  TOTAL
  HOMESTEAD MATERIALS HANDLING   0.00   0.00   0.00   0.00   3,018.89 (1) 3,018.89
  LEASING TECHNOLOGIES INT'L, INC.   0.00   0.00   0.00   0.00   39,190.00 (1) 39,190.00
  RAYMOND LEASING CORPORTATION   0.00   0.00   0.00   0.00   27,958.79 (1) 27,958.79
  SONITROL OF LONG BEACH   0.00   95.00   0.00   0.00   0.00   95.00
  XEROX CORPORATION   0.00   0.00   0.00   0.00   1,490.20 (1) 1,490.20
   
 
 
 
 
 
TOTAL   0.00   95.00   0.00   0.00   71,657.88   71,752.88
   
 
 
 
 
 

Notes:

(1)
Lease - In the > 90 day column, $71,657.88 represents post-petition lease payments which are the subject of ongoing negotiations and motions for allowance of administrative claims.

In re: eToys Distribution LLC   Case No. 01-00707 (MFW)
  Debtor   04/01/02-04/30/02

MOR-5
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

Accounts Receivable Reconciliation

  Amount
Total Accounts Receivable at the beginning of the reporting period   $ 115,110.22
(+) Amounts billed during the period   $ 875.67
(-) Amounts collected during the period (Note 1)   $ 875.67
(-) Other adjustments (Note 1)      
Total Accounts Receivable at the end of the reporting period   $ 115,110.22

Accounts Receivable Aging

 

Amount

0-30 days old   $ -
31-60 days old      
61-90 days old      
91 + days old   $ 115,110.22
Total Accounts Receivable   $ 115,110.22
Amount considered uncollectible (Bad Debt)      
Accounts Receivable (Net)   $ 115,110.22

DEBTOR QUESTIONNAIRE

Must be completed each month

  YES
  NO
1.   Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, Provide an explanation below.       X
2.   Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below.       X
3.   Have all postpetition tax returns been timely filed? If no, provide an explanation below.   X    
4.   Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below.   X    
Note 1 - Accounts receivable amounts collected during April 2002 were deposited in a bank account of eToys, Inc.

(Case No. 01-00706) and, accordingly, are reflected on that Debtor's MOR-1 Schedule of Cash Receipts and

Disbursements.


UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE

 
   
In re: eKids, Inc.   Case No. 01-00708 (MFW)
Reporting Period: 04/01/02-04/30/02

MONTHLY OPERATING REPORT
'>File with Court and submit copy to United States Trustee within 20 days after end of month

        Submit copy of report to any official committee appointed in the case

Required Documents
  Form No.
  Document
Attached

  Explanation
Attached

Schedule of Cash Receipts and Disbursements   MOR-1   Not Applicable    
  Bank Reconciliation (or copies of debtor's bank reconciliations)   MOR-1 (CON'T)   Not Applicable    
  Copies of bank statements       Not Applicable    
  Cash disbursements journals       Not Applicable    
Statement of Operations   MOR-2   Not Applicable    
Balance Sheet   MOR-3   Not Applicable    
Status of Postpetition Taxes   MOR-4   Not Applicable    
  Copies of IRS Form 6123 or payment receipt       Not Applicable    
  Copies of tax returns filed during reporting period       Not Applicable    
Summary of Unpaid Postpetition Debts   MOR-4   Not Applicable    
  Listing of aged accounts payable       Not Applicable    
Accounts Receivable Reconciliation and Aging   MOR-5   Not Applicable    
Debtor Questionnaire   MOR-5   Not Applicable    

        I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.


 

 

 

 

 

Signature of Debtor
     
Date


Signature of Joint Debtor

 

 

 


Date

/s/  
BARRY GOLD CEO      
Signature of Authorized Individual

 

 

 

5/14/02

Date

BARRY GOLD CEO

Printed Name of Authorized Individual

 

 

 

5/14/02

Title of Authorized Individual

*Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.



eKids, Inc., debtor herein, is a holding company formed to hold certain intellectual property assets. As reflected on the Schedules of Assets and Liabilities filed with the Bankruptcy Court, Debtor has no checking accounts, no accounts receivable and the intellectual property assets which were to be held by Debtor were never transferred to Debtor nor recorded on its books and records. The Debtor is a non-operating entity, and therefore, all documents required by the Office of the United States Trustee for its Monthly Operating Report are not applicable and have been marked accordingly.


In re: eKids, Inc.   Case No. 01-00708 (MFW)
              Debtor   Reporting Period 04/01/02-04/30/02

MOR-1
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor's books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the "CURRENT MONTH-ACTUAL" column must equal the sum of the four bank account columns. The amounts reported in the "PROJECTED" columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM-IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for the cash account.

 
   
   
   
   
  Total
CASH BEGINNING OF MONTH   NOT APPLICABLE               0.00
                     
CASH SALES                   0.00
ACCOUNTS RECEIVABLE                   0.00
LOANS AND ADVANCES                   0.00
SALE OF ASSETS                   0.00
DUE FROM LLC                   0.00
OTHER (attach list)                   0.00
TRANSFERS — SWEEP ACCOUNT                   0.00
TRANSFERS — UK                   0.00
TRANSFERS FROM PRE-PETITION                   0.00
TRANSFERS FROM eTOYS INC DIP                   0.00
INTEREST                   0.00
TOTAL RECEIPTS                   0.00

DISBURSEMENTS

 

 

 

 

 

 

 

 

 

 
NET PAYROLL                   0.00
PAYROLL TAXES                   0.00
SALES,USE, & OTHER TAXES                   0.00
INVENTORY PURCHASES                   0.00
SECURED/RENT/LEASES                   0.00
INSURANCE                   0.00
ADMINISTRATIVE                   0.00
SELLING                   0.00
OTHER (attach list)                   0.00
PRE-PETITION EXPENSES                   0.00
OWNER DRAW                   0.00
TRANSFERS                   0.00
  Transfer to eToys Inc. DIP                   0.00
  Transfer to PR                   0.00
  Transfer to CD                   0.00
  Due to LLC                   0.00
  Transfer to Pre-petition                   0.00
PROFESSIONAL FEES                   0.00
U.S. TRUSTEE QUARTERLY FEES                   0.00
COURT COSTS                   0.00
TOTAL DISBURSEMENTS                   0.00
NET CASH FLOW   0.00   0.00   0.00       0.00
CASH END OF MONTH       0.00   0.00       0.00

            THE FOLLOWING SECTION MUST BE COMPLETED

TOTAL DISBURSEMENTS     0.00
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS     0.00
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES   $  
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES     0.00

In re: eKids, Inc.   Case No. 01-00708 (MFW)
              Debtor   Reporting Period 04/01/02-04/30/02

BANK RECONCILIATIONS
Continuation Sheet for MOR-1

A bank reconciliation must be included for each bank account. The debtor's bank reconciliation may be substituted for this page

 
  NOT APPLICABLE
   
   
   
BALANCE PER BOOKS

   
   
   
   
BANK BALANCE                
(+) DEPOSITS IN TRANSIT (attach list)                
(-) OUTSTANDING CHECKS (attach list)                
OTHER (attach list)                
ADJUSTED BANK BALANCE                

*  Adjusted bank balance must equal
balance per books


DEPOSITS IN TRANSIT

  Date
  Amount
  Date
  Amount
  Date
  Amount
  Date
  Amount
    None   None                
                                 
                                 
                                 

CHECKS OUTSTANDING

  Ck#
  Amount
  Ck#
  Amount
  Ck#
  Amount
  Ck#
  Amount
                                   
                                   
                                   
                                   
                                   
                                   
                                   
                                   
                                   
                                   
                                   
                                   
                                   
                                   
                                   
                                   
                                   
                                   
                                   
                                   
                                   
                                   
Total Outstanding Checks       $ -                        

OTHER





In re: eKids, Inc.   Case No. 01-00708 (MFW)
              Debtor   Reporting Period 04/01/02-04/30/02
MOR-2
STATEMENT OF OPERATIONS
    (Income Statement)   NOT APPLICABLE                  

The Statement of Operations is to be prepared on an accrual basis. The accrual basis of accounting recognizes revenue when it is realized and expenses when they are incurred, regardless of when cash is actually received or paid

 
  MONTH
  FILING TO DATE
REVENUES            
Gross Revenues   $     $  
Less: Returns and Allowances            
Net Revenue   $     $  
COST OF GOODS SOLD            
Beginning Inventory            
Add: Purchases            
Add: Cost of Labor            
Add: Other Costs (attach schedule)            
Less: Ending Inventory            
Cost of Goods Sold            
Gross Profit            
OPERATING EXPENSE            
Advertising            
Auto and Truck Expense            
Bad Debts            
Contributions            
Employee Benefits Programs            
Insider Compensation [as defined in 11 U.S.C. Section 101(31)]            
Insurance            
Management Fees/Bonuses            
Office Expense            
Pension & Profit-Sharing Plans            
Repairs and Maintenance            
Rent and Lease Expense            
Salaries/Commissions/Fees            
Supplies            
Taxes-payroll            
Taxes-Other            
Travel and Entertainment            
Utilities            
Other (attach schedule)            
Total Operating Expense Before Depreciation            
Depreciation/Depletion/Amortization            
Net Profit (Loss) Before Other Income & Expenses            
OTHER INCOME AND EXPENSES            
Other Income (attach schedule)            
Interest Expense            
Other Expense (attach schedule)            
Net Profit (Loss) before Reorganization Items            
             
Professional Fees            
U.S. Trustee Quarterly Fees            
Interest Earned on Accumulated Cash from Chapter 11 (see cont. sheet)            
Gain (Loss) from Sale of Equipment            
Other Reorganization Expenses (attach schedule)            
Total Reorganization Expenses            
Income Taxes            
Net Profit (Loss)   $     $  

In re: eKids, Inc.   Case No. 01-00708 (MFW)
              Debtor   Reporting Period 04/01/02-04/30/02

MOR-2 continued
STATEMENT OF OPERATIONS

NOT APPLICABLE

BREAKDOWN OF OTHER CATEGORY

  MONTH
  FILING TO DATE
            
OTHER COSTS        
         
         
         
         
         
OTHER OPERATIONAL EXPENSES        
         
         
         
         
         
OTHER INCOME        
         
         
         
         
         
OTHER EXPENSES        
         
         
         
         
         
OTHER REORGANIZATION EXPENSES        
         
         
         
         
         

Reorganization Items-interest Earned on Accumulated Cash From Chapter 11
Interest earned on cash accumulated during the chapter 11 case, which would not have been earned bur for the Bankruptcy proceeding, should be reported as a reorganization item.


In re: eKids, Inc.   Case No. 01-00708 (MFW)
  Debtor   Reporting Period 04/01/02-04/30/02
    MOR-3
BALANCE SHEET
  NOT APPLICABLE
 
    

ASSETS
  MONTH
  MONTH
    NOT APPLICABLE    
Cash (Unrestricted)        
Cash (restricted)        
Accounts Receivable (net)        
Inventory        
Notes Receivable        
Prepaid Expenses        
Other (Attach List)        
Total Current Assets        

 

 

 

 

 
Real Property & Improvements        
Machinery & Equipment        
Furniture, Fixtures & Office Equipment        
Vehicles        
Leasehold Improvements        
Less: Accumulated Deprec/Depletion        
Total Property, Plant & Equipment        
Liabilities not subject to compromise (Postpetition Liabilities)        
Accounts payable        
Taxes Payable        
Notes payable        
Professional Fees        
Secured Debt        
Due to Affiliates & Insiders        
Other (Attach List)        
Total postpetition Liabilities        
Liabilities subject to compromise (Postpetition Liabilities)        
Secured Debt-Per Plan        
Priority Debt-Per Plan        
Unsecured Debt-Per Plan        
Other (Attach List)-Per Plan        
Total Prepetition Liabilities        
Total Liabilities        
Equity        
Common Stock        
Retained Earnings (Deficit)        
Total Equity (Deficit)        
Total Liabilities & Owner's Equity        

In re: eKids, Inc.   Case No. 01-00708 (MFW)
  Debtor   Reporting Period 04/01/02-04/30/02
    MOR-3 continued
BALANCE SHEET
  NOT APPLICABLE
 
    

ASSETS
  BOOK VALUE AT END OF
CURRENT REPORTING MONTH

  BOOK VALUE ON
PETITION DATE

Other Current Assets        
    NOT APPLICABLE    
         
         
         
         
         
Other Assets        
         
         
         
         
         
         
 
    

Liabilities and Owner Equity
  BOOK VALUE AT END OF
CURRENT REPORTING MONTH

  BOOK VALUE ON
PETITION DATE

         
         
         
         
         
         
Adjustments to Owner Equity        
         
         
         
         
         
         
Postpetitions Contributions Distributions (Draws)        
         
         
         
         
         
         
         

Restricted cash: cash that is restricted for a specific use and not available to fund operations. Typically, restricted cash is segregated into a separate account, such as an escrow account.


In re: eKids, Inc.   Case No. 01-00708 (MFW)
  Debtor   Reporting Period 04/01/02-04/30/02

MOR-4
STATUS OF POSTPETITION TAXES

The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero. Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes. Attach photocopies of any tax returns filed during the reporting period.


 

 

Beginning
tax
Liability


 

Amount
withheld or
Actual


 

Amount
Paid


 

Date
paid


 

Check
No.


 

Ending
Tax
Liability

FEDERAL                        
Withholding   NOT APPLICABLE                
FICA-Employee                        
FICA-Employer                        
Unemployment                        
Income                        
Other:                        
  Total Federal Taxes                        
STATE AND LOCAL                        
Withholding                        
Sales                        
Excise                        
Unemployment                        
Real Property                        
Personal Property                        
Other:                        
  Total State and Local                        
Total taxes                        

SUMMARY OF UNPAID POSTPETITION DEBTS

Attach aged listing of accounts payable.

 
  Number of Days Past Due
 
  Current
  1-30
  31-60
  61-90
  over 90
  Total
Accounts payable   NOT APPLICABLE            
Wages payable                        
Taxes Payable                        
Rent/Lease-Equipment                        
Secured Debt/Adequate Protection Pymnts                        
Professional Fees                        
Amounts Due to Insiders*                        
Other: Deposit Liabilities                        
Other:                        
Other: Vacation Accrual                        
Total Postpetition Debts                        

Explain how and when the Debtor intends to pay any past-due postpetition debts.








* "Insider" is defined in 11 U.S.C. Section 101 (31).


In re: eKids, Inc.   Case No. 01-00708 (MFW)
      Reporting Period: 04/01/02 - 04/30/02

MOR-5
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
(NOT APPLICABLE)


Accounts Receivable Reconciliation


 

Prior Periods


 

Current Period


 

Cumulative

Total Accounts Receivable at the beginning of the reporting period            
(+) Amounts billed during the period            
(-) Amounts collected during the period            
Total Accounts Receivable at the end of the reporting period            

Accounts Receivable Aging

 

 

 

 

 

 
0-30 days old            
31-60 days old            
61-90 days old            
91 + days old            
Total Accounts Receivable            
Amount considered uncollectible (Bad Debt)            
Accounts Receivable (Net)            

        DEBTOR QUESTIONNAIRE (Not Applicable)

Must be completed each month

  Yes
  No
1.   Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, Provide an explanation below.          
2.   Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below.          
3.   Have all postpetition tax returns been timely filed? If no, provide an explanation below.          
4.   Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below.          








UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE

In re: PMJ Corporation

Case No. 01-00709 (MFW)
Reporting Period: 04/01/02-04/30/02

MONTHLY OPERATING REPORT
File with Court and submit copy to United States Trustee within 20 days after end of month

        Submit copy of report to any official committee appointed in the case

Required Documents
  Form No.
  Document Attached
  Explanation
Attached

Schedule of Cash Receipts and Disbursements   MOR-1   Not Applicable    
  Bank Reconciliation (or copies of debtor's bank reconciliations)   MOR-1 (CON'T)   Not Applicable    
  Copies of bank statements       Not Applicable    
  Cash disbursements journals       Not Applicable    
Statement of Operations   MOR-2   Not Applicable    
Balance Sheet   MOR-3   Not Applicable    
Status of Postpetition Taxes   MOR-4   Not Applicable    
  Copies of IRS Form 6123 or payment receipt       Not Applicable    
  Copies of tax returns filed during reporting period       Not Applicable    
Summary of Unpaid Postpetition Debts   MOR-4   Not Applicable    
  Listing of aged accounts payable       Not Applicable    
Accounts Receivable Reconciliation and Aging   MOR-5   Not Applicable    
Debtor Questionnaire   MOR-5   Not Applicable    

        I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.



Signature of Debtor

 


Date

 

 

 

Signature of Joint Debtor
 
Date

 

 

 
/s/  BARRY GOLD CEO      
Signature of Authorized Individual
  5/18/02
Date

 

 

 
Barry Gold
Printed Name of Authorized Individual
  PRESIDENT & CEO
Title of Authorized Individual

* Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.


PMJ Corporation, debtor herein, is a holding company formed to hold certain intellectual property assets. As reflected on the Schedules of Assets and Liabilities filed with the Bankruptcy Court, Debtor has no checking accounts, no accounts receivable and the intellectual property assets which were to be held by Debtor were never transferred to Debtor nor recorded on its books and records. The Debtor is a non-operating entity, and therefore, all documents required by the Office of the United States Trustee for its Monthly Operating Report are not applicable and have been marked accordingly.


In re: PMJ Corporation   Case No. 01-0709 (MFW)
  Debtor   Reporting Period 04/01/02-04/30/02

MOR-1
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor's books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the "CURRENT MONTH-ACTUAL" column must equal the sum of the four bank account columns. The amounts reported in the "PROJECTED" columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM-IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for the cash account.

 
   
   
   
   
  Total
                     
CASH BEGINNING OF MONTH   NOT APPLICABLE       0.00

CASH SALES

 

 

 

 

 

 

 

 

 

0.00
ACCOUNTS RECEIVABLE                   0.00
LOANS AND ADVANCES                   0.00
SALE OF ASSETS                   0.00
DUE FROM LLC                   0.00
OTHER (attach list)                   0.00
TRANSFERS - SWEEP ACCOUNT                   0.00
TRANSFERS - UK                   0.00
TRANSFERS FROM PRE-PETITION                   0.00
TRANSFERS FROM eTOYS INC DIP                   0.00
INTEREST                   0.00
TOTAL RECEIPTS                   0.00
                     
DISBURSEMENTS                    
NET PAYROLL                   0.00
PAYROLL TAXES                   0.00
SALES,USE,& OTHER TAXES                   0.00
INVENTORY PURCHASES                   0.00
SECURED/RENT/LEASES                   0.00
INSURANCE                   0.00
ADMINISTRATIVE                   0.00
SELLING                   0.00
OTHER (attach list)                   0.00
PRE-PETITION EXPENSES                   0.00
OWNER DRAW                   0.00
TRANSFERS                   0.00
  Transfer to eToys Inc. DIP                   0.00
  Transfer to PR                   0.00
  Transfer to CD                   0.00
  Due to LLC                   0.00
  Transfer to Pre-petition                   0.00
PROFESSIONAL FEES                   0.00
U.S. TRUSTEE QUARTERLY FEES                   0.00
COURT COSTS                   0.00
TOTAL DISBURSEMENTS                   0.00
NET CASH FLOW   0.00   0.00   0.00       0.00
CASH END OF MONTH       0.00   0.00       0.00
       
THE FOLLOWING SECTION MUST BE COMPLETED      
TOTAL DISBURSEMENTS     0.00
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS     0.00
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES   $  
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES     0.00

 
 
   
In re: PMJ Corporation   Case No. 01-00709 (MFW)              
                    Debtor   Reporting Period 04/01/02-04/30/02

BANK RECONCILIATIONS
Continuation Sheet for MOR-1

A bank reconciliation must be included for each bank account. The debtor's bank reconciliation may be substituted for this page

 
  NOT APPLICABLE

   
   
BALANCE PER BOOKS                
BANK BALANCE                
(+) DEPOSITS IN TRANSIT (attach list)                
(-) OUTSTANDING CHECKS (attach list)                
OTHER (attach list)                
ADJUSTED BANK BALANCE                

* Adjusted bank balance must equal balance per books

DEPOSITS IN TRANSIT

  Date
  Amount
  Date
  Amount
  Date
  Amount
  Date
  Amount
                                 
                                 
                                 
                                 
                                 
CHECKS OUTSTANDING

  Ck#
  Amount
  Ck#
  Amount
  Ck#
  Amount
  Ck#
  Amount
                                   
                                   
                                   
               </