EX-99.1 2 efc4-1610_exh991.txt Exhibit 99.1 UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF GEORGIA NEWNAN DIVISION IN RE: } CASE NUMBER } 02-10835 } The NewPower Company,et. al. } JUDGE W. Homer Drake, Jr. } DEBTORS } CHAPTER 11 DEBTOR'S MONTHLY FINANCIAL REPORTS (BUSINESS) FOR THE PERIOD FROM 6/30/04 TO 7/31/04 Comes now the above-named debtor and files its Periodic Financial Reports in accordance with the Guidelines established by the United States Trustee and FRBP 2015. Paul Ferdinands ------------------ Attorney for Debtor Debtor's Address Attorney's Address and Phone Number and Phone Number 93 Cherry Street 191 Peachtree St. New Canaan, Ct 06840 Atlanta, GA 30303 Tel: (203) 966-1881 Tel: (404) 572-4600 NewPower Holdings, Inc. Case Number: 02-10835 Post Petition Totals For Period from June 30, 2004 through July 31, 2004 Opening Cash Balance -6/30/04 $ 93,558 (Concentration Account) Inflows: Customer Collections Collateral Returned 500 -Sureties -Security Deposits Sale Proceeds/Interest Income/Other 57 --------------------------------------------------- Total Inflows 557 ----------------------------------------------------------------------------- Distribution of Outflows Outflows: NewPower The NewPower Post Petition: Holdings, Inc. Company Call Center (Sitel) Professionals - Bankruptcy 4 4 Consulting Fees Gas Systems & IT Infrastructure (Wipro) Customer Incentives (air miles, etc.) Customer Letters & Bill Print (SFI) AGL Billing Systems (Partnersolve) Collections(RM Services) IT Support for risk systems (Zenax) Customer Database Systems (Zac ) Lockbox Fees (First Union) 0 0 Billing & Reconciliations (Diversified) Churn Mitigation(AGL) Supplies & Misc Rent 2 2 Insurance 1,400 1,400 Utilities (Heat, Hydro, Phone, etc.) Customer Refunds Customer Refunds (Outstanding) 0 0 Contingency for any above item(s) (15%) Billing/Customer Support (IBM) Payroll 17 17 Power Gas Storage & Pipelines Transportation & Distribution (AGL) Transportation & Distribution (Texas) Collateral Payments - Security Deposits T&E Reimbursements 4 4 State Tax Payments 34 34 Enron payments Class 7 claims --------------------------------------------------------------------------- Total Outflows 1,462 1,461 0 --------------------------------------------------------------------------- --------------------------------------------------- Net Cash Flows (905) --------------------------------------------------- ---------- Closing Cash Balance $ 92,653 =========================================---------- Attachment 1 NewPower Holdings, Inc. Case Number: 02-10835 Monthly Accounts Receivable Aging and Reconciliation For Period from June 30, 2004 through July 31, 2004 Amounts in $000's Accounts Receivable at Petition Date: $ 75,200 Beginning of Month Balance* - Gross $ 13,476 (per 6/30/04 G/L) PLUS: Current Month New Billings - LESS: Collections During the Month - --------- End of Month Balance - Gross $ 13,476 (per 7/31/04 G/L) Allowance for Doubtful Accounts (13,476) --------- End of Month Balance - Net of Allowance $ - ========= Note: The accounts receivable aging below relates only to deliveries to customers subsequent to the June 11, 2002 petition date. AR Aging for Post Petition Receivables Current >30 days >60 days Total ----------------------------------- $ - $ - $ 111 $ 111 Attachment 2 NewPower Holdings, Inc. Case Number: 02-10835 Monthly Accounts Payable and Secured Payments Report For Period from June 30, 2004 through July 31, 2004 Amounts in $000's See attached System Generated A/P reports as of 7/31/04 (Attachments 2A and 2B). Beginning of Period Balance $ 29 (per 6/30/04 G/L) PLUS: New Indebtedness Incurred 494 LESS: Amounts Paid on A/P (119) --------- End of Month Balance $ 403 (per 7/31/04 G/L) ========= The New Power Company Exhibit 2A Vendor Balance Detail As of July 31, 2004 Date Amount Balance ---------- ---------- ---------- Arnold & Porter 1,270.25 07/12/2004 -1,270.25 0.00 ---------- ---------- Total Arnold & Porter -1,270.25 0.00 AT&T 64.35 Total AT&T 64.35 Automated Power Exchange 0.00 07/22/2004 190.00 190.00 07/22/2004 -190.00 0.00 ========== =========== Total Automated Power Exchange 0.00 0.00 Carroll & Gross 22,814.73 Total Carroll & Gross 22,814.73 Connecticut Secretary of State 0.00 07/13/2004 600.00 600.00 07/13/2004 -600.00 0.00 ========== =========== Total Connecticut Secretary of State 0.00 0.00 D'Arcangelo & Co. LLP 4,614.50 Total D'Arcangelo & Co. LLP 4,614.50 Delaware Secretary of State 0.00 07/22/2004 33,000.00 33,000.00 07/22/2004 -33,000.00 0.00 ========== =========== Total Delaware Secretary of State 0.00 0.00 IKON Office Solutions 0.00 07/29/2004 185.50 185.50 07/29/2004 -185.50 0.00 ========== =========== Total IKON Office Solutions 0.00 0.00 Kaster Moving Co. Inc. 0.00 07/22/2004 1,810.90 1,810.90 07/22/2004 -1,810.90 0.00 ========== =========== Total Kaster Moving Co. Inc. 0.00 0.00 King and Spalding 0.00 07/29/2004 6,825.85 6,825.85 07/29/2004 -6,825.85 0.00 07/29/2004 5,852.43 5,852.43 07/29/2004 -5,852.43 0.00 ========== =========== Total King and Spalding 0.00 0.00 Leboeuf, Lamb, Greene & Macrae 0.86 07/22/2004 6,901.68 6,902.54 07/22/2004 -6,901.68 0.86 ========== =========== Total Leboeuf, Lamb, Greene & Macrae 0.00 0.86 Page 1 of 3 The New Power Company Exhibit 2A Vendor Balance Detail As of July 31, 2004 Date Amount Balance ---------- ---------- ---------- Mellon Investors Services, LLC 0.00 07/12/2004 1,376.06 1,376.06 07/12/2004 -1,376.06 0.00 07/29/2004 1,614.73 1,614.73 07/29/2004 -1,614.73 0.00 ========== =========== Total Mellon Investors Services, LLC 0.00 0.00 Mr. Gene Shanks 0.00 07/29/2004 500.00 500.00 07/29/2004 -500.00 0.00 ========== =========== Total Mr. Gene Shanks 0.00 0.00 Mr. Richard Weill 0.00 07/29/2004 500.00 500.00 07/29/2004 -500.00 0.00 ========== =========== Total Mr. Richard Weill 0.00 0.00 Ms. Patricia Foster 0.00 07/22/2004 1,702.09 1,702.09 07/22/2004 -1,702.09 0.00 ========== =========== Total Ms. Patricia Foster 0.00 0.00 Parker, Hudson, Rainer & Dobbs 0.00 07/22/2004 46,898.57 46,898.57 07/22/2004 -46,898.57 0.00 ========== =========== Total Parker, Hudson, Rainer & Dobbs 0.00 0.00 Pink Sheets LLC 0.00 07/22/2004 309.60 309.60 07/22/2004 -309.60 0.00 ========== =========== Total Pink Sheets LLC 0.00 0.00 Poorman-Douglas Corporation 0.00 07/22/2004 1,215.32 1,215.32 07/22/2004 -1,215.32 0.00 ========== =========== Total Poorman-Douglas Corporation 0.00 0.00 Sidley Austin Brown & Wood 0.00 07/06/2004 375,608.57 375,608.57 0.00 375,608.57 ========== =========== Total Sidley Austin Brown & Wood 375,608.57 375,608.57 SNET 0.00 07/12/2004 464.27 464.27 07/12/2004 -464.27 0.00 ========== =========== Total SNET 0.00 0.00 Page 2 of 3 The New Power Company Exhibit 2A Vendor Balance Detail As of July 31, 2004 Date Amount Balance ---------- ---------- ---------- Sonara Carvalho 0.00 07/12/2004 165.00 165.00 07/12/2004 -165.00 0.00 07/29/2004 165.00 165.00 07/29/2004 -165.00 0.00 ========== =========== Total Sonara Carvalho 0.00 0.00 Sutherland Asbill & Brennan, LLC -208.11 Total Sutherland Asbill & Brennan, LLC -208.11 U.S. Trustee Program Payment Center 0.00 07/22/2004 250.00 250.00 07/22/2004 7,500.00 7,750.00 07/22/2004 -250.00 7,500.00 07/22/2004 -7,500.00 0.00 ========== =========== Total U.S. Trustee Program Payment Center 0.00 0.00 ========== =========== TOTAL 374,338.32 402,894.90 ========== =========== Balance at June 30, 2004 28,556.58 New Invoices 493,635.57 Invoices Paid -119,297.25 ----------- Balance at July 31, 2004 402,894.90 =========== Page 3 of 3 The New Power Company Exhibit 2B Unpaid Bills Detail As of July 31, 2004 Date Open Balance -------- ------------ AT&T 06/30/2003 64.35 ------------ Total AT&T 64.35 Carroll & Gross 06/30/2003 22,814.73 ------------ Total Carroll & Gross 22,814.73 D'Arcangelo & Co. LLP 11/21/2003 4,614.50 ------------ Total D'Arcangelo & Co. LLP 4,614.50 Leboeuf, Lamb, Greene & Macrae 10/14/2003 0.86 ------------ Total Leboeuf, Lamb, Greene & Macrae 0.86 Sidley, Austin, Brown and Wood, LLP 07/06/2004 375,608.57 ------------ 375,608.57 ------------ Sutherland Asbill & Brennan, LLC 07/08/2003 -208.11 ----------- Total Sutherland Asbill & Brennan, LLC -208.11 ----------- TOTAL 402,894.90 =========== 1 of 1 Attachment 3 NewPower Holdings, Inc. Case Number: 02-10835 Inventroy and Fixed Assets Report For Period from June 30, 2004 through July 31, 2004 Amounts in $000's
Inventory Report Inventory Balance at Petition Date $ 15,587 Inventory at Beginning of Period $ - (per 6/30/04 G/L) PLUS: Inventrory Purchased - (per daily cash report) LESS: Inventory Used or Sold - ---------- End of Month Balance $ - (per 7/31/04 G/L) ========== Inventory is generally costed at the lower of cost or market. By the end of July 2002 we had sold all of our gas inventory either to retail customers or financial buyers as part of our asset sales. Fixed Asset Report Book Value at Petition Date $ 1,238 Our fixed assets at petition date consisted of office furniture and equipment. These assets were transferred to our lessor in June 2002 as part of the settlement of our lease obligation. Fixed Assets at Beginning of Period $ - Less: Depreciation Expense - Less: Dispositions - Add: Purchases - ---------- Fixed Assets at End of Period $ - ==========
Attachment 4 Page 1 of 14 Name of Debtor : NewPower Holdings Inc. Case # : 02-10835 Reporting Period: 7/01/2004-7/31/2004 Name of Bank: JP Morgan Chase Branch: New York Account Name: The New Power Company Account Number: Purpose of Account: Concentration Account Beginning Balance $ 93,559,406.98 Total Deposits $ 556,770.39 Total Payments $ 1,461,086.83 Closing Balance $ 92,655,090.54 Service Charges $ 359.96 First Check issued this Period N/A Last Check issued this Period N/A Total # of checks issued this Period N/A Attachment 4 Page 2 of 14 Name of Debtor : NewPower Holdings Inc. Case # : 02-10835 Reporting Period: 7/01/2004-7/31/2004 Name of Bank: JP Morgan Chase Branch: Syracuse, NY Account Name: The New Power Company Account Number: Purpose of Account: Controlled Disbursements (A/P) Beginning Balance $0.00 Total Deposits $1,443,947.16 Total Payments $1,443,947.16 Closing Balance $0.00 Service Charges N/A First Check issued this Period 200554 Last Check issued this Period 200575 Total # of checks issued this Period 22 Attachment 4 Page 3 of 14 Name of Debtor : NewPower Holdings Inc. Case # : 02-10835 Reporting Period: 7/01/2004-7/31/2004 Name of Bank: JP Morgan Chase Branch: Syracuse, NY Account Name: NewPower Holdings, Inc. - Refund Disbursement A/C Account Number: Purpose of Account: Controlled Disbursements (Customer Refunds) Beginning Balance $0.00 Total Deposits $244.78 Total Payments $244.78 Closing Balance $0.00 Service Charges N/A First Check issued this Period NA Last Check issued this Period NA Total # of checks issued this Period NA Attachment 4 Page 4 of 14 Name of Debtor : NewPower Holdings Inc. Case # : 02-10835 Reporting Period: 7/01/2004-7/31/2004 Name of Bank: JP Morgan Chase Branch: New York ABA # 021000021 Account Name: NewPower ACH Account Account Number: Purpose of Account: ACH (T&E) Beginning Balance $0.00 Total Deposits $0.00 Total Payments $0.00 Closing Balance $0.00 Service Charges N/A First Check issued this Period N/A Last Check issued this Period N/A Total # of checks issued this Period N/A ACCOUNT CLOSED Attachment 4 Page 5 of 14 Name of Debtor : NewPower Holdings Inc. Case # : 02-10835 Reporting Period: 7/01/2004-7/31/2004 Name of Bank: First Union/ Wachovia Branch: Herndon, VA Account Name: The New Power Company Account Number: Purpose of Account: Natural Gas Collections Beginning Balance $0.00 Total Deposits $0.00 Total Payments $0.00 Closing Balance $0.00 Service Charges N/A First Check issued this Period N/A Last Check issued this Period N/A Total # of checks issued this Period N/A ACCOUNT CLOSED Attachment 4 Page 6 of 14 Name of Debtor : NewPower Holdings Inc. Case # : 02-10835 Reporting Period: 7/01/2004-7/31/2004 Name of Bank: First Union/ Wachovia Branch: Charlotte, NC Account Name: The New Power Company Account Number: Purpose of Account: Power/ IBM Collections Beginning Balance $0.00 Total Deposits $0.00 Total Payments $0.00 Closing Balance $0.00 Service Charges $0.00 First Check issued this Period N/A Last Check issued this Period N/A Total # of checks issued this Period N/A ACCOUNT CLOSED Attachment 4 Page 7 of 14 Name of Debtor : NewPower Holdings Inc. Case # : 02-10835 Reporting Period: 7/01/2004-7/31/2004 Name of Bank: JP Morgan Chase Branch: New York Account Name: NewPower Holdings, Inc. - Payroll Account Account Number: Purpose of Account: Payroll Beginning Balance $0.00 Total Deposits $0.00 Total Payments $0.00 Closing Balance $0.00 Service Charges N/A First Check issued this Period N/A Last Check issued this Period N/A Total # of checks issued this Period N/A ACCOUNT CLOSED Attachment 4 Page 8 of 14 Name of Debtor : NewPower Holdings Inc. Case # : 02-10835 Reporting Period: 7/01/2004-7/31/2004 Name of Bank: JP Morgan Chase Branch: New York Account Name: NewPower Enron Segregated A/C Account Number: Purpose of Account: Concentration Account Beginning Balance $0.00 Total Deposits $0.00 Total Payments $0.00 Closing Balance $0.00 Service Charges N/A First Check issued this Period N/A Last Check issued this Period N/A Total # of checks issued this Period N/A ACCOUNT CLOSED Attachment 4 Page 9 of 14 Name of Debtor : NewPower Holdings Inc. Case # : 02-10835 Reporting Period: 7/01/2004-7/31/2004 Name of Bank: Royal Bank of Canada Branch: Ontario Transit # 00192 Account Name: The New Power Company Account Number: Purpose of Account: CAN$ Operating A/C Beginning Balance $0.00 CAN$ Total Deposits Total Payments $0.00 Closing Balance $0.00 Service Charges $ - First Check issued this Period NA Last Check issued this Period NA Total # of checks issued this Period 0 ACCOUNT CLOSED Attachment 4 Page 10 of 14 Name of Debtor : NewPower Holdings Inc. Case # : 02-10835 Reporting Period: 7/01/2004-7/31/2004 Name of Bank: First Union/ Wachovia Branch: Charlotte, NC Account Name: The New Power Company Account Number: Purpose of Account: Power/AES Collections Beginning Balance $0.00 Total Deposits $0.00 Total Payments $0.00 Closing Balance $0.00 Service Charges N/A First Check issued this Period N/A Last Check issued this Period N/A Total # of checks issued this Period N/A ACCOUNT CLOSED Attachment 4 Page 11 of 14 Name of Debtor : NewPower Holdings Inc. Case # : 02-10835 Reporting Period: 7/01/2004-7/31/2004 Name of Bank: Royal Bank of Canada Branch: Ontario Transit # 00192 Account Name: The New Power Company Account Number: Purpose of Account: US$ A/C Beginning Balance $0.00 Total Deposits $0.00 Total Payments $0.00 Closing Balance $0.00 Service Charges N/A First Check issued this Period N/A Last Check issued this Period N/A Total # of checks issued this Period N/A ACCOUNT CLOSED Attachment 4 Page 12 of 14 Name of Debtor : NewPower Holdings Inc. Case # : 02-10835 Reporting Period: 7/01/2004-7/31/2004 Name of Bank: JP Morgan Chase Branch: New York ABA # 021000021 Account Name: The New Power Company Account Number: Purpose of Account: WildCard ATM Settlement Beginning Balance $0.00 Total Deposits $0.00 Total Payments $0.00 Closing Balance $0.00 Service Charges N/A First Check issued this Period N/A Last Check issued this Period N/A Total # of checks issued this Period N/A ACCOUNT CLOSED Attachment 4 Page 13 of 14 Name of Debtor : NewPower Holdings Inc. Case # : 02-10835 Reporting Period: 7/01/2004-7/31/2004 Name of Bank: JP Morgan Chase Branch: Syracuse, NY Account Name: NewPower Holdings, Inc. Account Number: Purpose of Account: Controlled Disbursements (A/P) Beginning Balance $0.00 Total Deposits $0.00 Total Payments $0.00 Closing Balance $0.00 Service Charges N/A First Check issued this Period None Last Check issued this Period None Total # of checks issued this Period None ACCOUNT CLOSED Attachment 4 Page 14 of 14 Name of Debtor : NewPower Holdings Inc. Case # : 02-10835 Reporting Period: 7/01/2004-7/31/2004 Name of Bank: Credit Suisse Asset Management Branch: 466 Lexington Ave. NY, NY 10017-3140 Account Name: NewPower Holdings, Inc. Account Number: Purpose of Account: Short Term Cash Mgmt Portfolio Beginning Balance $0.00 Total Deposits $0.00 Total Payments $0.00 Closing Balance $0.00 Service Charges N/A First Check issued this Period N/A Last Check issued this Period N/A Total # of checks issued this Period N/A ACCOUNT CLOSED The New Power Company Exhibit 5 Check Detail July 2004 Num Date Name Paid Amount ---------- ----------- ----------------------------------- -------------- 200554 07/12/2004 Arnold & Porter 1,270.25 200555 07/12/2004 Sonara Carvalho 165.00 200556 07/12/2004 SNET 464.27 200557 07/12/2004 Mellon Investors Services, LLC 1,376.06 200558 07/13/2004 Connecticut Secretary of State 600.00 200559 07/22/2004 Ms. Patricia Foster 1,702.09 200560 07/22/2004 Leboeuf, Lamb, Greene & Macrae 6,901.68 200561 07/22/2004 Kaster Moving Co. Inc. 1,810.90 200562 07/22/2004 U.S. Trustee Program Payment Center 250.00 200563 07/22/2004 U.S. Trustee Program Payment Center 7,500.00 200564 07/22/2004 Pink Sheets LLC 309.60 200565 07/22/2004 Poorman-Douglas Corporation 1,215.32 200566 07/22/2004 Delaware Secretary of State 33,000.00 200567 07/22/2004 Parker, Hudson, Rainer & Dobbs 46,898.57 200568 07/22/2004 Automated Power Exchange 190.00 200569 07/29/2004 Mr. Gene Shanks 500.00 200570 07/29/2004 Mr. Richard Weill 500.00 200571 07/29/2004 Sonara Carvalho 165.00 200572 07/29/2004 King and Spalding 6,825.85 200573 07/29/2004 Mellon Investors Services, LLC 1,614.73 200574 07/29/2004 King and Spalding 5,852.43 200575 07/29/2004 IKON Office Solutions 185.50 Note: does not include amounts paid by wire Page 1 of 1 Attachment 6 NewPower Holdings, Inc. Case Number: 02-10835 Monthly Tax Report For Period from June 30, 2004 through July 31, 2004 Amounts in $000's Taxes Paid During the Month Not Applicable - All of our employees are leased through Administaff. Administaff bears all responsibility for the documentation and filing of payroll taxes and withholdings. We also, from time to time, have special pays that are done through a service provider - ADP. In those instances, ADP is responsible for making the required payroll tax filings. Taxes Owed and Due Not Applicable - All of our employees are leased through Administaff. Administaff bears all responsibility for the documentation and filing of payroll taxes and withholdings. We also, from time to time, have special pays that are done through a service provider - ADP. In those instances, ADP is responsible for making the required payroll tax filings. Attachment 7A NewPower Holdings, Inc. Case Number: 02-10835 Summary of Officer Compensation / Summary of Personnel and Insurance Coverages For Period from June 30, 2004 through July 31, 2004 Amounts in $000's Summary of Officer Compensation See supplemental attachment. Personnel Report Full Time Part Time # of Employees at beginning of period 1 # hired during the period - - # terminated/resigned during period - - ----------------------- # employees on payroll - end of period 0 1 ======================= # of employees on temporary consulting assignments 0 Confirmation of Insurance See supplemental attachment.* *Omitted Attachment 7B Payments made to insiders 6/01/04 -6/30/04 (Supplemental) Payments are in gross amts
Title Amount Date Type FOSTER, MARY President & CEO $ 7,291.67 7/15/2004 Salary for pay period 7/01 - 7/15 $ 7,291.67 7/31/2004 Salary for pay period 7/16 - 7/31 SHANKS, EUGENE Director $ 500.00 7/29/2004 2nd Quarter Board Meeting Fees WEILL, RICHARD Director $ 500.00 7/29/2004 2nd Quarter Board Meeting Fees ----------- $15,583.34 ===========
Attachment 8 NewPower Holdings, Inc. Case Number: 02-10835 Significant Developments During Reporting Period For Period from June 30, 2004 through July 31, 2004 None