-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ACe79udNHpbp8LgYZc7xeKIvneuz7g8K1mWHG2x+uV9DK0QyE8ghcNoRETu27saq GICiyOSVCYsgtNmALYSi1A== 0000950123-10-080219.txt : 20100824 0000950123-10-080219.hdr.sgml : 20100824 20100824130824 ACCESSION NUMBER: 0000950123-10-080219 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100817 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100824 DATE AS OF CHANGE: 20100824 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PFF BANCORP INC CENTRAL INDEX KEY: 0001004969 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 954561623 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16845 FILM NUMBER: 101034639 BUSINESS ADDRESS: STREET 1: 9337 MILLIKEN AVENUE CITY: RANCO CUCAMONGA STATE: CA ZIP: 91729 BUSINESS PHONE: 909-941-5400 MAIL ADDRESS: STREET 1: 9337 MILLIKEN AVENUE CITY: RANCO CUCAMONGA STATE: CA ZIP: 91729 8-K 1 c05171e8vk.htm FORM 8-K Form 8-K
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 17, 2010
PFF BANCORP, INC.
(Exact name of registrant as specified in its charter)
         
DELAWARE   001-16845   95-4561623
         
(State or other jurisdiction
of incorporation) 		  (Commission File Number)   (IRS Employer Identification No.)
     
2058 N. Mills Avenue, #139
Claremont, CA 		   
91711
     
(Address of principal executive offices)   (Zip Code)
Registrant’s telephone number, including area code: (213) 683-6159
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

Item 8.01 Other Events.
On August 17, 2010, PFF Bancorp, Inc. (the “Company”) and Glencrest Investment Advisors, Inc., Glencrest Insurance Services, Inc., Diversified Builder Services, Inc. and PFF Real Estate Services, Inc. (collectively with the Company, the “Debtors”) filed their monthly operating reports for the period July 1, 2010 to July 31, 2010 (the “July 2010 Monthly Operating Reports”) with the United States Bankruptcy Court for the District of Delaware (the “Court”) (Case Number 08-13127-KJC). The July 2010 Monthly Operating Reports are attached hereto as Exhibit 99.1 and are incorporated herein by reference.
Cautionary Statement Regarding Financial and Operating Data
The Company cautions investors and potential investors not to place undue reliance upon the information contained in the July 2010 Monthly Operating Reports which were not prepared for the purpose of providing the basis for an investment decision relating to any of the securities of the Company. The July 2010 Monthly Operating Reports are limited in scope, cover limited time periods, and have been prepared solely for the purpose of complying with the monthly reporting requirements of the Bankruptcy Code. The July 2010 Monthly Operating Reports were not audited or reviewed by independent accountants, were not prepared in accordance with U.S. Generally Accepted Accounting Principles, are in a format prescribed by applicable bankruptcy laws, and are subject to future adjustment and reconciliation. There can be no assurance that, from the perspective of an investor or potential investor in the Company’s securities that the July 2010 Monthly Operating Reports are complete. The July 2010 Monthly Operating Reports also contain information for periods which are shorter and otherwise different from those required in periodic reports pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and such information is likely not indicative of the Company’s financial condition or operating results for the period that would be reflected in the periodic reports pursuant to the Exchange Act. Results set forth in the July 2010 Monthly Operating Reports should not be viewed as indicative of future results.
Forward-Looking Statements
Certain matters discussed in this Current Report on Form 8-K and the exhibits hereto may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates” or variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements may relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, perceived opportunities in the market and statements regarding the Company’s strategic objectives. These forward-looking statements are based upon current management expectations and may therefore involve risks and uncertainties. The Company’s actual results or performance may differ materially from those suggested, expressed, or implied by forward-looking statements due to a wide range of factors including, but not limited to, the Company’s ability to manage its business as a debtor-in-possession pursuant to the provisions of the Bankruptcy Code and liquidate all of its remaining assets for distribution to creditors, the Company’s ability to obtain Court approval with respect to motions in the Chapter 11 proceeding prosecuted by it from time to time, risks associated with third parties seeking and obtaining Court approval to convert the case to a Chapter 7 case, and other risks detailed in the Company’s reports filed with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2008 and the Company’s Quarterly Reports on Form 10-Q for the fiscal quarters ended June 30, 2008 and September 30, 2008. The Company disclaims any obligation to subsequently revise or update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

 

 

 

Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
         
Number   Exhibit
       
 
  99.1    
Monthly Operating Reports of the Debtors for the period from July 1, 2010 to July 31, 2010.

 

 

 

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
Date: August 24, 2010   PFF BANCORP, INC.
 		  
  /s/ Kevin McCarthy    
  Kevin McCarthy   
  President and Chief Executive Officer   

 

 

 

         
EXHIBIT INDEX
         
Number   Exhibit
       
 
  99.1    
Monthly Operating Reports of the Debtors for the period from July 1, 2010 to July 31, 2010.

 

 

EX-99.1 2 c05171exv99w1.htm EXHIBIT 99.1 Exhibie 99.1
Exhibit 99.1
UNITED STATES BANKRUPTCY COURT
IN THE DISTRICT OF DELAWARE
     
In re PFF Bancorp, Inc.
  Case No. 08-13127
 
  Reporting Period: 7/1/10 — 7/31/10
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.
                         
                    Affidavit /  
        Document   Explanation     Supplement  
REQUIRED DOCUMENTS   Form No.   Attached   Attached     Attached  
Schedule of Cash Receipts and Disbursements
   MOR-1   YES                
Bank Reconciliation (or copies of debtor’s bank reconciliations)
   MOR-1a   YES                
Schedule of Professional Fees Paid
   MOR-1b   YES                
Copies of bank statements
       YES                
Cash disbursements journals
       YES                
Statement of Operations
   MOR-2   YES                
Balance Sheet
   MOR-3   YES                
Status of Post-petition Taxes
   MOR-4   YES                
Copies of IRS Form 6123 or payment receipt
       N/A                
Copies of tax returns filed during reporting period
       N/A                
Summary of Unpaid Post-petition Debts
   MOR-4   YES                
Listing of aged accounts payable
   MOR-4   YES                
Accounts Receivable Reconciliation and Aging
   MOR-5   YES                
Debtor Questionnaire
   MOR-5   YES                
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/ Kevin McCarthy
 
Signature of Authorized Individual*
  August 16, 2010
 
Date 		   
 
        
Kevin McCarthy
 
Printed Name of Authorized Individual
  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 PFF Bancorp, Inc.
  Case No. 08-13127
 
  Reporting Period: 7/1/10 — 7/31/10
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 each account. [See MOR-1 (CONT)]
                                                                 
                                                    CUMULATIVE  
    BANK ACCOUNTS     CURRENT MONTH     FILING TO DATE  
    OPER.     PAYROLL     TAX     OTHER     ACTUAL     PROJECTED     ACTUAL     PROJECTED  
CASH BEGINNING OF MONTH
   $ 2,010,012.02                             $ 2,010,012.02             $ 3,637,884.57          
 
                                                                
RECEIPTS
                                                                
CASH SALES
                                                                
ACCOUNTS RECEIVABLE
                                                                
LOANS AND ADVANCES
                                                                
SALE OF ASSETS
                                                   $ 1,033,315.22          
OTHER (ATTACH LIST)
                                                   $ 355,912.40          
TRANSFERS (FROM DIP ACCTS)
                                                                
 
                                                                
TOTAL RECEIPTS
                                                   $ 1,389,227.62          
 
                                                                
DISBURSEMENTS
                                                                
NET PAYROLL
   $ 16,147.50                             $ 16,147.50             $ 487,168.39          
PAYROLL TAXES
                                                                
SALES, USE & OTHER TAXES
                                                                
INVENTORY PURCHASES
                                                                
SECURED RENTAL/LEASES
                                                                
INSURANCE
                                                                
ADMINISTRATIVE
   $ 50,801.54                             $ 50,801.54             $ 742,108.19          
SELLING
                                                                
OTHER (ATTACH LIST)
   $ 4,006.27 1                           $ 4,006.27 1           $ 4,006.27          
 
                                                                
OWNER DRAW*
                                                                
TRANSFERS (TO DIP ACCTS)
                                                                
 
                                                                
PROFESSIONAL FEES
   $ 179,730.24                             $ 179,730.24             $ 2,010,778.86          
U.S. TRUSTEE QUARTERLY FEES
   $ 4,875.00                             $ 4,875.00             $ 28,599.01          
COURT COSTS
                                                                
TOTAL DISBURSEMENTS
   $ 255,560.55                             $ 255,560.55             $ 3,272,660.72          
 
                                                                
NET CASH FLOW
                                                                
(RECEIPTS LESS DISBURSEMENTS)
   $ (255,560.55 )                           $ (255,560.55 )           $ (1,883,433.10 )        
 
                                                                
CASH — END OF MONTH
   $ 1,754,451.47                             $ 1,754,451.47             $ 1,754,451.47          
     
*   COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE
 
     
1   Retainers Paid (drawn)
         
Richards, Layton & Finger
   $ (15,763.84 )
Moffett & Grigorian
   $ 19,770.11  
 
      
 
   $ 4,006.27  
 
      

 

 

 

THE FOLLOWING SECTION MUST BE COMPLETED
         
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES (FROM CURRENT MONTH ACTUAL COLUMN)        
TOTAL DISBURSEMENTS
   $ 255,560.55  
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS
   $    
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)
   $    
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES
   $ 255,560.55  

 

 

 

Account 9146
Account Name PFF Bancorp, Inc.
Reconciliation As of Date 07/31/10
                 
Balance per Bank
           $ 1,904,401.51  
 
                
Deposits in Transit
                
Date
   Amount        
 
                
Total
                
 
                
Outstanding Checks
                
Check #
   Amount        
1285
   $ 6,518.08          
1286
   $ 1,313.10          
1287
   $ 4,875.00          
1289
   $ 115,920.90          
1290
   $ 2,345.02          
1292
   $ 7,171.04          
1293
   $ 70.33          
1294
   $ 11,751.23          
 
                
Total
           $ (149,964.70 )
Other (List)
                
Service charge on bank not on books
           $ 14.66  
 
                
Balance per Books
           $ 1,754,451.47  

 

 

 

     
In re PFF Bancorp, Inc.
  Case No. 08-13127
 
  Reporting Period: 7/1/10 — 7/31/10
SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID
This schedule is to include all retained professional payments from case inception to current month.
                                                                         
    Period     Amount             Check     Amount Paid     Year-To-Date  
Payee   Covered     Covered     Payor     Number     Date     Fees     Expenses     Fees     Expenses  
Paul, Hastings, Janofsky & Walker, LLP
     5/1/10 – 5/31/10     $ 144,819.30     PFF Bancorp     1289       7/26/10     $ 115,593.60     $ 327.30     $ 1,175,007.60     $ 20,097.92  
 
                                                                        
JH Cohn
     3/1/10 – 3/31/10     $ 4,936.00     PFF Bancorp     1277       7/10/10     $ 3,948.80       —     $ 323,168.30     $ 5,343.85  
 
     4/1/10 – 4/30/10     $ 5,143.40     PFF Bancorp     1278       7/10/10     $ 4,111.20     $ 4.40     $ 327,279.50     $ 5,348.25  
 
   20% Holdback   $ 7,074.20     PFF Bancorp     1279       7/10/10     $ 7,074.20       —     $ 334,353.70     $ 5,348.25  
 
                                                                        
Blank Rome
     3/1/10 – 3/31/10     $ 14,380.44     PFF Bancorp     1280       7/10/10     $ 11,412.00     $ 115.44     $ 314,072.20     $ 14,182.25  
 
   20% Holdback   $ 15,050.70     PFF Bancorp     1281       7/10/10     $ 15,050.70       —     $ 329,122.90     $ 14,182.25  
 
                                                                        
Richards Layton & Finger
     4/1/10 – 4/30/10     $ 1,921.44     PFF Bancorp     1282       7/10/10     $ 1,477.60     $ 74.44     $ 108,966.50     $ 3,159.18  
 
   20% Holdback   $ 2,431.70     PFF Bancorp     1283       7/10/10     $ 2,431.70       —     $ 111,398.20     $ 3,159.18  
 
     5/1/10 – 5/31/10     $ 2,926.82     PFF Bancorp     1290       7/26/10     $ 2,327.20     $ 17.82     $ 113,725.40     $ 3,177.00  
 
     8/1/09 – 11/30/09     $ 15,763.84     PFF Bancorp       (1)     3/11/10     $ 15,763.84       —     $ 129,489.24     $ 3,177.00  
     
(1)   Amount applied against pre-existing retainer.

 

 

 

     
Bank of America LOGO
  Account Number 9146
 
  01 01 149 01 M0000 E# 16
CUSTOMER CONNECTION
  Last Statement: 06/30/2010
BANK OF AMERICA, N.A.
  This Statement: 07/30/2010
DALLAS, TEXAS 75283-2406
    
 
    
 
  Customer Service 1-800-342-7722
PFF BANCORP, INC
    
DEBTOR IN POSSESSION #08-13127-KJC
    
OPERATING ACCOUNT
  Page 1 of 3
2058 N. MILLS AVE #139
    
CLAREMONT CA 91711
  Bankruptcy Case Number: 0813127KJC
CUSTOMER CONNECTION ECONOMY CHECKING
Account Summary Information
                     
Statement Period
     07/01/2010 — 07/30/2010     Statement Beginning Balance   $ 2,048,814.34  
Number of Deposits/Credits
     0     Amount of Deposits/Credits   $ 0.00  
Number of Checks
     16     Amount of Checks   $ 137,035.38  
Number of Other Debits
     5     Amount of Other Debits   $ 7,377.45  
 
           Statement Ending Balance   $ 1,904,401.51  
Number of Enclosures
     16              
 
           Service Charge   $ 14.66  
Withdrawals and Debits
Checks
                                                         
Check           Date     Bank     Check             Date     Bank  
Number   Amount     Posted     Reference     Number     Amount     Posted     Reference  
1270
   $ 1,238.40       07/12       5892785053       1279     $ 7,074.20       07/19       8782715163  
1271
   $ 14,820.20       07/14       6592646491       1280     $ 11,527.44       07/20       6492227538  
1272
   $ 22,883.50       07/14       6592646490       1281     $ 15,050.70       07/20       6492227537  
1273
   $ 64.16       07/09       9892051294       1282     $ 1,552.04       07/20       9292577752  
1274
   $ 10,149.61       07/09       1182322818       1283     $ 2,431.70       07/20       9292577751  
1276*
   $ 33,220.11       07/21       6692303417       1284     $ 63.83       07/23       9992197940  
1277
   $ 3,948.80       07/19       8782715165       10042 *   $ 4,085.80       07/09       9892423536  
1278
   $ 4,115.60       07/19       8782715164       10043     $ 4,809.29       07/23       9892905629  
Other Debits
                           
Date   Customer               Bank  
Posted   Reference       Amount   Description   Reference  
07/07           $
3,247.85
  
ADP TX/FINCL SVC DES: ADP — TAX ID: E2Z8V 070826A01
INDN: PFF BANCORP INC          CO ID: 1223006057 CCD
     87014119220  
07/14           $
60.44
  
ADP PAYROLL FEES DES: ADP — FEES ID: 13Z8V 4731509
INDN: PFF BANCORP INC          CO ID: 9659605001 CCD
     94006499321  
07/21           $
4,004.56
  
ADP TX/FINCL SVC DES: ADP — TAX ID: E2Z8V 072228A01
INDN: PFF BANCORP INC          CO ID: 1223006057 CCD
     01004624414  
07/28           $
49.94
  
ADP PAYROLL FEES DES: ADP — FEES ID: 13Z8V 5270657
INDN: PFF BANCORP INC          CO ID: 9659605001 CCD
     08004111395  
07/30           $
14.66
   FDIC ASSESSMENT        
Daily Balances
                                         
Date   Ledger Balance     Collected Balance     Date     Ledger Balance     Collected Balance  
06/30
   $ 2,048,814.34     $ 2,048,814.34       07/20     $ 1,946,563.90     $ 1,946,563.90  
07/07
   $ 2,045,566.49     $ 2,045,566.49       07/21     $ 1,909,339.23     $ 1,909,339.23  
07/09
   $ 2,031,266.92     $ 2,031,266.92       07/23     $ 1,904,466.11     $ 1,904,466.11  
07/12
   $ 2,030,028.52     $ 2,030,028.52       07/28     $ 1,904,416.17     $ 1,904,416.17  
07/14
   $ 1,992,264.38     $ 1,992,264.38       07/30     $ 1,904,401.51     $ 1,904,401.51  
07/19
   $ 1,977,125.78     $ 1,977,125.78                          
     
*   The preceding check(s) is still outstanding or has been included in a previous statement or is included in the ‘Other Debits’ section as an ACH paperless transaction.

 

 

 

     
 
  Account Number 9146
CUSTOMER CONNECTION
  01 01 149 01 M0000 E# 16
BANK OF AMERICA, N.A.
  Last Statement: 06/30/2010
DALLAS, TEXAS 75283-2406
  This Statement: 07/30/2010
 
    
 
  Customer Service 1-800-342-7722
PFF BANCORP, INC
    
 
  Page 2 of 2
 
 
  Bankruptcy Case Number: 0813127KJC
IMPORTANT INFORMATION
CHANGE OF ADDRESS. Please call us at the customer service telephone number listed on the front of this statement to tell us about a change of address.
TERMS AND CONDITIONS. All deposits to, withdrawals from, or other transactions pertaining to your account(s) are subject to the terms and conditions of the agreement you received when you opened your account and any amendments thereto. Amendments to the agreement may be made from time to time in the manner stated therein.
IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS. If you think your statement or receipt is wrong or if you need more information about an electronic transfer (e.g., ATM transactions, direct deposits or withdrawals, point-of-sale transactions) on the statement or receipt, telephone or write us at the address or number listed on the front of this statement as soon you can. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared.
     
*   Tell us your name and account number
 
*   Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe there is an error or why you need more information
 
*   Tell us the dollar amount of the suspected error.
For consumer accounts used primarily for personal, family or household purposes, we will investigate your complaint and will correct any error promptly. If we take more than 10 business days (20 business days if you are a new customer, for electronic transfers occurring during the first 30 days after the first deposit is made to your account), to do this, we will re-credit your account for the amount you think is in error so that you will have use of the money during the time it takes us to complete our investigation.
For other accounts, we investigate, and if we find we have made an error, we will make the appropriate adjustment to your account at the conclusion of our investigation.
DIRECT DEPOSITS.
If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you may call us at the telephone number listed on the front of this statement to find out if the deposit was made as scheduled.
REPORTING OTHER PROBLEMS.
You must examine your statement carefully and promptly. You are in the best position to discover errors and unauthorized transactions on your account. If you fail to notify us in writing of suspected problems or unauthorized transactions within the time periods specified in the deposit agreement (which periods are no more than 60 days after we make the statement available to you and in some cases are 30 days or less), we are not liable to you for, and you agree not to make a claim against us for the problems or unauthorized transactions.

 

 

 

PFF Bancorp, Inc.
Transaction Detail by Account
July 2010
                                                         
Date   Type   Num     Name     Memo/Description     Split     Amount     Balance  
B of A Checking                                                
07/02/2010
   General Journal     314                     -SPLIT-     -64.16       -64.16  
07/02/2010
   General Journal     313                     -SPLIT-     -139.78       -203.94  
07/03/2010
   General Journal     316                     -SPLIT-     -10,149.61       -10,353.55  
07/08/2010
   General Journal     315                     -SPLIT-     -7,394.09       -17,747.64  
07/10/2010
   General Journal     318                     -SPLIT-     -3,948.80       -21,696.44  
07/10/2010
   General Journal     317                     -SPLIT-     -33,220.11       -54,916.55  
07/10/2010
   General Journal     319                     -SPLIT-     -4,115.60       -59,032.15  
07/10/2010
   General Journal     320                     -SPLIT-     -7,074.20       -66,106.35  
07/10/2010
   General Journal     321                     -SPLIT-     -11,527.44       -77,633.79  
07/10/2010
   General Journal     322                     -SPLIT-     -15,050.70       -92,684.49  
07/10/2010
   General Journal     323                     -SPLIT-     -1,552.04       -94,236.53  
07/10/2010
   General Journal     324                     -SPLIT-     -2,431.70       -96,668.23  
07/14/2010
   General Journal     325                     -SPLIT-     -63.83       -96,732.06  
07/22/2010
   General Journal     326                     -SPLIT-     -8,863.79       -105,595.85  
07/24/2010
   General Journal     327                     -SPLIT-     -6,518.08       -112,113.93  
07/24/2010
   General Journal     328                     -SPLIT-     -1,313.10       -113,427.03  
07/24/2010
   General Journal     329                     -SPLIT-     -4,875.00       -118,302.03  
07/26/2010
   General Journal     330                     -SPLIT-     -115,920.90       -234,222.93  
07/26/2010
   General Journal     331                     -SPLIT-     -2,345.02       -236,567.95  
07/28/2010
   General Journal     335                     -SPLIT-     -7,171.04       -243,738.99  
07/30/2010
   General Journal     336                     -SPLIT-     -70.33       -243,809.32  
07/31/2010
   General Journal     337                     -SPLIT-     -11,751.23       -255,560.55  
 
                                                      
Total for B of A Checking                                     -255,560.55          
Prepaid — Moffett                                                
07/10/2010
   General Journal     317                     -SPLIT-     19,770.11       19,770.11  
 
                                                      
Total for Prepaid — Moffett                                     19,770.11          
Kurtzman Carson Retainer                                                
07/28/2010
   General Journal     334                     -SPLIT-     15,000.00       15,000.00  
 
                                                      
Total for Kurtzman Carson Retainer                                     15,000.00          
Prepaid Expenses                                                
07/28/2010
   General Journal     332                     -SPLIT-     -15,763.84       -15,763.84  
07/28/2010
   General Journal     334                     -SPLIT-     -15,000.00       -30,763.84  
07/28/2010
   General Journal     333                     -SPLIT-     -65,940.94       -96,704.78  
 
                                                      
Total for Prepaid Expenses                                     -96,704.78          
RLF Retainer                                                
07/28/2010
   General Journal     333                     -SPLIT-     65,940.94       65,940.94  
 
                                                      
Total for RLF Retainer                                     65,940.94          

 

 

 

                                                         
Date   Type   Num     Name     Memo/Description     Split     Amount     Balance  
Bank Charges                                                
07/02/2010
   General Journal     313                     -SPLIT-     139.78       139.78  
 
                                                      
Total for Bank Charges                                     139.78          
Blank Rome — Expenses                                                
07/10/2010
   General Journal     321                     -SPLIT-     115.44       115.44  
 
                                                      
Total for Blank Rome — Expenses                                     115.44          
Blank Rome — Fees                                                
07/10/2010
   General Journal     322                     -SPLIT-     15,050.70       15,050.70  
07/10/2010
   General Journal     321                     -SPLIT-     11,412.00       26,462.70  
 
                                                      
Total for Blank Rome — Fees                                     26,462.70          
Contractor — Talbott                                                
07/03/2010
   General Journal     316                     -SPLIT-     9,937.50       9,937.50  
07/24/2010
   General Journal     327                     -SPLIT-     6,375.00       16,312.50  
07/31/2010
   General Journal     337                     -SPLIT-     11,500.00       27,812.50  
 
                                                      
Total for Contractor — Talbott                                     27,812.50          
Contractor — Talbott — Expenses                                                
07/03/2010
   General Journal     316                     -SPLIT-     212.11       212.11  
07/24/2010
   General Journal     327                     -SPLIT-     143.08       355.19  
07/31/2010
   General Journal     337                     -SPLIT-     251.23       606.42  
 
                                                      
Total for Contractor — Talbott — Expenses                                     606.42          
JH Cohn — Expenses                                                
07/10/2010
   General Journal     319                     -SPLIT-     4.40       4.40  
 
                                                      
Total for JH Cohn — Expenses                                     4.40          
JH Cohn — Fees                                                
07/10/2010
   General Journal     319                     -SPLIT-     4,111.20       4,111.20  
07/10/2010
   General Journal     320                     -SPLIT-     7,074.20       11,185.40  
07/10/2010
   General Journal     318                     -SPLIT-     3,948.80       15,134.20  
 
                                                      
Total for JH Cohn — Fees                                     15,134.20          
Kurtzman Carson                                                
07/28/2010
   General Journal     335                     -SPLIT-     7,171.04       7,171.04  
 
                                                      
Total for Kurtzman Carson                                     7,171.04          
Legal & Professional Fees                                                
07/10/2010
   General Journal     317                     -SPLIT-     13,450.00       13,450.00  
 
                                                      
Total for Legal & Professional Fees                                     13,450.00          
Office Expenses                                                
07/08/2010
   General Journal     315                     -SPLIT-     60.44       60.44  
07/22/2010
   General Journal     326                     -SPLIT-     49.94       110.38  
07/24/2010
   General Journal     328                     -SPLIT-     1,313.10       1,423.48  
 
                                                      
Total for Office Expenses                                     1,423.48          
Payroll                                                
07/08/2010
   General Journal     315                     -SPLIT-     3,247.85       3,247.85  
07/08/2010
   General Journal     315                     -SPLIT-     4,085.80       7,333.65  
07/22/2010
   General Journal     326                     -SPLIT-     4,004.56       11,338.21  
07/22/2010
   General Journal     326                     -SPLIT-     4,809.29       16,147.50  
 
                                                      
Total for Payroll                                     16,147.50          
PHJW Expenses                                                
07/26/2010
   General Journal     330                     -SPLIT-     327.30       327.30  
 
                                                      
Total for PHJW Expenses                                     327.30          

 

 

 

                                                         
Date   Type   Num     Name     Memo/Description     Split     Amount     Balance  
PHJW Fees                                                
07/26/2010
   General Journal     330                     -SPLIT-     115,593.60       115,593.60  
 
                                                      
Total for PHJW Fees                                     115,593.60          
Postage                                                
07/02/2010
   General Journal     314                     -SPLIT-     19.16       19.16  
07/14/2010
   General Journal     325                     -SPLIT-     18.83       37.99  
07/30/2010
   General Journal     336                     -SPLIT-     18.83       56.82  
 
                                                      
Total for Postage                                     56.82          
RLF — Fees                                                
07/10/2010
   General Journal     323                     -SPLIT-     1,477.60       1,477.60  
07/10/2010
   General Journal     324                     -SPLIT-     2,431.70       3,909.30  
07/26/2010
   General Journal     331                     -SPLIT-     2,327.20       6,236.50  
07/28/2010
   General Journal     332                     -SPLIT-     15,763.84       22,000.34  
 
                                                      
Total for RLF — Fees                                     22,000.34          
RLF Expenses                                                
07/10/2010
   General Journal     323                     -SPLIT-     74.44       74.44  
07/26/2010
   General Journal     331                     -SPLIT-     17.82       92.26  
 
                                                      
Total for RLF Expenses                                     92.26          
Travel                                                
07/02/2010
   General Journal     314                     -SPLIT-     45.00       45.00  
07/14/2010
   General Journal     325                     -SPLIT-     45.00       90.00  
07/30/2010
   General Journal     336                     -SPLIT-     51.50       141.50  
 
                                                      
Total for Travel                                     141.50          
US Trustee                                                
07/24/2010
   General Journal     329                     -SPLIT-     4,875.00       4,875.00  
 
                                                      
Total for US Trustee                                     4,875.00          

 

 

 

     
Journal Entry   Entry #: 314
Date: 07/02/2010
                 
Account   Debit     Credit  
 
                
Travel
   $ 45.00          
Postage
   $ 19.16          
B of A Checking
           $ 64.16  
 
                
Totals
   $ 64.16     $ 64.16  
 
                
Memo: McCarthy Expenses 6/19 — 7/2/10
                

 

 

 

     
Journal Entry   Entry #: 313
Date: 07/02/2010
                 
Account   Debit     Credit  
 
                
Bank Charges
   $ 139.78          
B of A Checking
           $ 139.78  
 
                
 
                
Totals
   $ 139.78     $ 139.78  
Memo: B of A — June Incl Stop Pay Chgs

 

 

 

     
Journal Entry   Entry #: 316
Date: 07/03/2010
                 
Account   Debit     Credit  
 
                
Contractor — Talbott
   $ 9,937.50          
Contractor — Talbott
   $ 212.11          
B of A Checking
           $ 10,149.61  
 
                
Totals
   $ 10,149.61     $ 10,149.61  
Memo: 6/20 — 7/3/10

 

 

 

     
Journal Entry   Entry #: 315
Date: 07/08/2010
                 
Account   Debit     Credit  
 
                
Payroll
   $ 4,085.80          
Payroll
   $ 3,247.85          
Office Expenses
   $ 60.44          
B of A Checking
           $ 7,394.09  
 
                
Totals
   $ 7,394.09     $ 7,394.09  
Memo: McCarthy 6/19 — 7/2/10

 

 

 

     
Journal Entry   Entry #: 318
Date: 07/10/2010
                 
Account   Debit     Credit  
 
                
JH Cohn — Fees
   $ 3,948.80          
B of A Checking
           $ 3,948.80  
 
                
Totals
   $ 3,948.80     $ 3,948.80  
Memo: 3/1 — 3/31/10

 

 

 

     
Journal Entry   Entry #: 317
Date: 07/10/2010
                 
Account   Debit     Credit  
 
                
Legal & Professional
   $ 13,450.00          
Prepaid — Moffett
   $ 19,770.11          
B of A Checking
           $ 33,220.11  
 
                
Totals
   $ 33,220.11     $ 33,220.11  
Memo: Tax services 3/31 — 6/12/10 including establishment of a new advance ($20,000.00)

 

 

 

     
Journal Entry   Entry #: 319
Date: 07/10/2010
                 
Account   Debit     Credit  
 
                
JH Cohn — Fees
   $ 4,111.20          
JH Cohn — Expenses
   $ 4.40          
B of A Checking
           $ 4,115.60  
 
                
Totals
   $ 4,115.60     $ 4,115.60  
Memo: 4/1 — 4/30/10

 

 

 

     
Journal Entry   Entry #: 324
Date: 07/10/2010
                 
Account   Debit     Credit  
 
                
RLF — Fees
   $ 2,431.70          
B of A Checking
           $ 2,431.70  
 
                
Totals
   $ 2,431.70     $ 2,431.70  
Memo: 20% Holdback

 

 

 

     
Journal Entry   Entry #: 320
Date: 07/10/2010
                 
Account   Debit     Credit  
 
                
JH Cohn — Fees
   $ 7,074.20          
B of A Checking
           $ 7,074.20  
 
                
Totals
   $ 7,074.20     $ 7,074.20  
Memo: 20% Holdback

 

 

 

     
Journal Entry   Entry #: 321
Date: 07/10/2010
                 
Account   Debit     Credit  
 
                
Blank Rome — Fees
   $ 11,412.00          
Blank Rome — Expenses
   $ 115.44          
B of A Checking
           $ 11,527.44  
 
                
Totals
   $ 11,527.44     $ 11,527.44  
Memo: 3/1 — 3/31/10

 

 

 

     
Journal Entry   Entry #: 322
Date: 07/10/2010
                 
Account   Debit     Credit  
 
                
Blank Rome — Fees
   $ 15,050.70          
B of A Checking
           $ 15,050.70  
 
                
Totals
   $ 15,050.70     $ 15,050.70  
Memo: 20% Holdback

 

 

 

     
Journal Entry   Entry #: 323
Date: 07/10/2010
                 
Account   Debit     Credit  
 
                
RLF — Fees
   $ 1,477.60          
RLF — Expenses
   $ 74.44          
B of A Checking
           $ 1,552.04  
 
                
Totals
   $ 1,552.04     $ 1,552.04  
Memo: 4/1 — 4/30/10

 

 

 

     
Journal Entry   Entry #: 325
Date: 07/14/2010
                 
Account   Debit     Credit  
 
                
Postage
   $ 18.83          
Travel
   $ 45.00          
B of A Checking
           $ 63.83  
 
                
Totals
   $ 63.83     $ 63.83  
Memo: McCarthy 7/3 — 7/16/10

 

 

 

     
Journal Entry   Entry #: 326
Date: 07/22/2010
                 
Account   Debit     Credit  
 
                
Payroll
   $ 4,809.29          
Payroll
   $ 4,004.56          
Office Expenses
   $ 49.94          
B of A Checking
           $ 8,863.79  
 
                
Totals
   $ 8,863.79     $ 8,863.79  
Memo: McCarthy 7/3 — 7/16/10

 

 

 

     
Journal Entry   Entry #: 328
Date: 07/24/2010
                 
Account   Debit     Credit  
 
                
Office Expenses
   $ 1,313.10          
B of A Checking
           $ 1,313.10  
 
                
Totals
   $ 1,313.10     $ 1,313.10  
Memo: Pure Compliance 8-K 7/23/10

 

 

 

     
Journal Entry   Entry #: 327
Date: 07/24/2010
                 
Account   Debit     Credit  
 
                
Contractor — Talbott
   $ 6,375.00          
Contractor — Talbott
   $ 143.08          
B of A Checking
           $ 6,518.08  
 
                
Totals
   $ 6,518.08     $ 6,518.08  
Memo: 7/4 — 7/17/10

 

 

 

     
Journal Entry   Entry #: 329
Date: 07/24/2010
                 
Account   Debit     Credit  
 
                
US Trustee
   $ 4,875.00          
B of A Checking
           $ 4,875.00  
 
                
Totals
   $ 4,875.00     $ 4,875.00  
Memo: Q 2 2010

 

 

 

     
Journal Entry   Entry #: 330
Date: 07/26/2010
                 
Account   Debit     Credit  
 
                
PHJW Fees
   $ 115,593.60          
PHJW Expenses
   $ 327.30          
B of A Checking
           $ 115,920.90  
 
                
Totals
   $ 115,920.90     $ 115,920.90  
Memo: May 2010

 

 

 

     
Journal Entry   Entry #: 331
Date: 07/26/2010
                 
Account   Debit     Credit  
 
                
RLF — Fees
   $ 2,327.20          
RLF Expenses
   $ 17.82          
B of A Checking
           $ 2,345.02  
 
                
Totals
   $ 2,345.02     $ 2,345.02  
Memo: May 2010

 

 

 

     
Journal Entry   Entry #: 335
Date: 07/28/2010
                 
Account   Debit     Credit  
 
                
Kurtzman Carson
   $ 7,171.04          
B of A Checking
           $ 7,171.04  
 
                
Totals
   $ 7,171.04     $ 7,171.04  
Memo: 6/1 — 6/30/10

 

 

 

     
Journal Entry   Entry #: 336
Date: 07/30/2010
                 
Account   Debit     Credit  
 
                
Postage
   $ 18.83          
Travel
   $ 51.50          
B of A Checking
           $ 70.33  
 
                
Totals
   $ 70.33     $ 70.33  
Memo: McCarthy Expenses 7/17 — 7/30/10

 

 

 

     
Journal Entry   Entry #: 337
Date: 07/31/2010
                 
Account   Debit     Credit  
 
                
Contractor — Talbott
   $ 11,500.00          
Contractor — Talbott
   $ 251.23          
B of A Checking
           $ 11,751.23  
 
                
Totals
   $ 11,751.23     $ 11,751.23  
Memo: Fees + Expenses 7/18 — 7/31/10

 

 

 

PFF Bancorp, Inc.
Profit & Loss
July 2010
         
    Total  
Income
        
Total Income
        
Expenses
        
Bank Charges
     139.78  
Blank Rome — Expenses
     115.44  
Blank Rome — Fees
     26,462.70  
Contractor — Talbott
     27,812.50  
Contractor — Talbott — Expenses
     606.42  
JH Cohn — Expenses
     4.40  
JH Cohn — Fees
     15,134.20  
Kurtzman Carson
     7,171.04  
Legal & Professional Fees
     13,450.00  
Office Expenses
     1,423.48  
Payroll
     16,147.50  
PHJW Expenses
     327.30  
PHJW Fees
     115,593.60  
Postage
     56.82  
RLF — Fees
     22,000.34  
RLF Expenses
     92.26  
Travel
     141.50  
US Trustee
     4,875.00  
 
      
Total Expenses
    $ 251,554.28  
 
      
Net Operating Income
   -$ 251,554.28  
 
      
Net Income
   -$ 251,554.28  

 

 

 

PFF Bancorp, Inc.
Profit & Loss
December 5, 2008 — July 31, 2010
         
    Total  
Income
        
Interest Income
     33,315.22  
Refunds-Allowances
     17,200.00  
Workers Comp Experience Refund
     10,563.00  
 
      
Total Income
    $ 61,078.22  
Expenses
        
Accrued Expenses
     0.00  
Bank Charges
     1,014.63  
Blank Rome — Expenses
     14,182.25  
Blank Rome — Fees
     329,122.90  
Contractor — Talbott
     451,243.25  
Contractor — Talbott — Expenses
     3,055.15  
Interest Expense
     0.99  
JH Cohn — Expenses
     5,348.25  
JH Cohn — Fees
     334,353.70  
Kurtzman Carson
     163,237.79  
Legal & Professional Fees
     239,066.29  
Office Expenses
     44,653.59  
Payroll
     487,168.39  
PHJW Expenses
     20,097.92  
PHJW Fees
     1,175,007.60  
Postage
     1,465.53  
Progressive Reimb
     -202,416.95  
RLF — Fees
     129,489.24  
RLF Expenses
     3,177.00  
Supplies
     383.11  
Taxes & Licenses
     8,613.23  
Travel
     12,162.55  
US Trustee
     28,599.01  
 
      
Total Expenses
    $ 3,249,025.42  
 
      
Net Operating Income
   -$ 3,187,947.20  
Other Income
        
Other Income
     125,750.46  
 
      
Total Other Income
    $ 125,750.46  
Other Expenses
        
Charge Off Invest in PFF B&T
     142,517,693.00  
Miscellaneous
     2,000.20  
 
      
Total Other Expenses
    $ 142,519,693.20  
 
      
Net Other Income
   -$ 142,393,942.74  
 
      
Net Income
   -$ 145,581,889.94  

 

 

 

PFF Bancorp, Inc.
Balance Sheet
As of July 31, 2010
         
    Total  
ASSETS
        
Current Assets
        
Bank Accounts
        
B of A Checking
     1,754,451.47  
Checking
     0.00  
Citigroup Margin
     700,000.00  
M&I Bank Account
     1,000,000.00  
Paine Webber Business Svcs.
     0.00  
Trust Inv A/C
     0.00  
 
      
Total Bank Accounts
   $ 3,454,451.47  
Other Current Assets
        
Prepaid — Moffett
     20,000.00  
 
      
Total Other Current Assets
   $ 20,000.00  
 
      
Total Current Assets
   $ 3,474,451.47  
Other Assets
        
Accrued Interest
     5,666.00  
Accum Comp Gain/Loss 1
     136,845.00  
Accum Comp Gain/Loss 2
     -3,531,160.00  
Capital SERP PFF
     -377,518.00  
Capital Stock Investment
     0.00  
Common Stock Dist. Def. Comp
     1,389,015.00  
Common Stock Dist. SERP
     641,438.00  
Deferred Costs — JR SUB
     91,654.00  
Interest Receivable
     82,351.00  
Investment in PFF Real Estate Svcs.
     55,000.00  
Investment in Trust I
     928,000.00  
Investment in Trust II
     774,000.00  
Investment in Trust III
     928,000.00  
Investment with Subsidiaries
     1,307,442.00  
Kurtzman Carson Retainer
     15,000.00  
Net Income/Loss
     0.00  
Net Income/Loss — DBS
     16,886,374.00  
Net Income/Loss — GIA
     730,807.00  
Net Income/Loss — PFF RESI
     -29,275.00  
Net Income/Loss DBS correction
     -33,772,748.00  
PFF B&T Cash Dividend
     0.00  
PFF FAS 115
     1,228,035.00  
Prepaid Expenses
     33,000.00  
Prepaid OTS Assessment
     6,357.00  
Progressive — Tail
     0.00  
RLF Retainer
     65,940.94  
Stock Options Granted
     24,911,967.00  
Travellers Tail
     0.00  

 

 

 

         
    Total  
US Treasury Bonds — HTM
     0.00  
US Treasury Bonds — UNAM
     953.00  
US Treasury Bonds Mkt Value
     13,329.00  
Valuation Allowance
     -1,500,413.00  
 
      
Total Other Assets
   $ 11,020,059.94  
 
      
TOTAL ASSETS
   $ 14,494,511.41  
LIABILITIES AND EQUITY
        
Liabilities
        
Current Liabilities
        
Other Current Liabilities
        
Accrued Expenses Payable
     0.00  
 
      
Total Other Current Liabilities
   $ 0.00  
 
      
Total Current Liabilities
   $ 0.00  
Long Term Liabilities
        
Accrued Tax Fees
     6,311.00  
Deferred FIT
     -128,004.00  
Deferred SIT
     -1,378,007.00  
FAS 115 FIT
     4,132.00  
FAS 115 SIT
     1,466.00  
Intercompany Payable
     15.00  
Interest Payable — JR SUB Debt
     2,743,922.00  
Interest Payable — M&I
     -106,985.00  
Interest Payable — Other Notes
     -304,034.00  
Interest Payable — Secured Borrowings
     80,821.00  
Interest Payable — Swap Fixed
     452,506.00  
Interest Payable — Swap Variable
     -364,583.00  
JR SUB Debt I
     30,928,000.00  
JR SUB Debt II
     25,774,000.00  
JR SUB Debt III
     30,928,000.00  
JR SUB Debt MTM
     779,740.00  
Notes Payable — DBS
     -19,280,093.00  
Notes Payable M&I
     44,000,000.00  
Other Accrued Liabilities
     2,806,000.00  
Secured Borrowings
     486,849.00  
 
      
Total Long Term Liabilities
   $ 117,430,056.00  
 
      
Total Liabilities
   $ 117,430,056.00  
Equity
        
APIC Equity Incentive Plan
     5,565,899.00  
APIC ESOP
     28,709,074.00  
APIC Preferred Stock
     6,990,000.00  
APIC Retained Earnings
     -53,645,740.00  
APIC SERP
     -377,518.00  
APIC Stock Options Granted
     24,901,591.00  
APIC Treasury
     -113,220,689.00  
APIC Valuation Def Tax
     10,376.00  

 

 

 

         
    Total  
Common Stock
     224,811.00  
Common Stock Aquired
     -86,371.00  
Common Stock Dist Def Comp
     1,389,015.00  
Common Stock Dist SERP
     641,438.00  
Dividends
     81,713,632.00  
ISO Stock Options FAS 123R
     326,562.00  
NQ Stock Options FAS 123R
     700,675.00  
Opening Balance Equity
     -163,427,263.00  
Other Comprehensive Earnings
     -2,152,951.00  
Paid-In Capital or Surplus
     224,451,453.00  
Preferred Stock
     10,000.00  
Retained Earnings
     -144,737,457.70  
Net Income
     -922,080.89  
 
      
Total Equity
   -$ 102,935,544.59  
 
      
TOTAL LIABILITIES AND EQUITY
    $ 14,494,511.41  

 

 

 

     
In re PFF Bancorp, Inc.
  Case No. 08-13127
 
  Reporting Period: 7/1/10 — 7/31/10
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.
                         
        Amount               Ending
    Beginning   Withheld or   Amount       Check No.   Tax
Federal   Tax Liability   Accrued   Paid   Date Paid   _____T   Liability
Withholding
   NONE                   NONE
FICA-Employee
   NONE                   NONE
FICA-Employer
   NONE                   NONE
Unemployment
   NONE                   NONE
Income
   NONE                   NONE
Other:
   NONE                   NONE
Total Federal Taxes
   NONE                   NONE
State and Local
                        
Withholding
   NONE                   NONE
Sales
   NONE                   NONE
Excise
   NONE                   NONE
Unemployment
   NONE                   NONE
Real Property
   NONE                   NONE
Personal Property
   NONE                   NONE
Other:
   NONE                   NONE
Total State and Local
   NONE                   NONE
Total Taxes
   NONE                   NONE
SUMMARY OF UNPAID POSTPETITION DEBTS
Attach aged listing of accounts payable.
Number of Days Past Due
                                             
    Current     0-30     31-60     61-90     Over 90   Total  
Accounts Payable
                                       NONE
Wages Payable
                                       NONE
Taxes Payable
                                       NONE
Rent/Leases-Building
                                       NONE
Rent/Leases-Equipment
                                       NONE
Secured Debt/Adequate Protection Payments
                                       NONE
Professional Fees
                                       NONE
Amounts Due to Insiders*
                                       NONE
Other: _____________
                                       NONE
Other: _____________
                                       NONE
Total Postpetition Debts
                                       NONE
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 PFF Bancorp, Inc.
     Debtor
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
         
Accounts Receivable Reconciliation
        
Total Accounts Receivable at the beginning of the reporting period
   NONE
+ Amounts billed during the period
   NONE
- Amounts collected during the period
   NONE
Total Accounts Receivable at the end of the reporting period
   NONE
Accounts Receivable Aging
        
0 - 30 days old
   NONE
31 - 60 days old
   NONE
61 - 90 days old
   NONE
91 + days old
   NONE
Total Accounts Receivable
   NONE
Amount considered uncollectible (Bad Debt)
   NONE
Accounts Receivable (Net)
   NONE
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    
5. Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.
       X

 

 

 

UNITED STATES BANKRUPTCY COURT
IN THE DISTRICT OF DELAWARE
     
In re Glencrest Investment Advisors, Inc.
  Case No. 08-13128
 
  Reporting Period: 7/1/10 — 7/31/10
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.
                         
                    Affidavit /  
        Document   Explanation     Supplement  
REQUIRED DOCUMENTS   Form No.   Attached   Attached     Attached  
Schedule of Cash Receipts and Disbursements
   MOR-1   YES                
Bank Reconciliation (or copies of debtor’s bank reconciliations)
   MOR-1a   YES                
Schedule of Professional Fees Paid
   MOR-1b   YES                
Copies of bank statements
       YES                
Cash disbursements journals
       YES                
Statement of Operations
   MOR-2   YES                
Balance Sheet
   MOR-3   YES                
Status of Post-petition Taxes
   MOR-4   YES                
Copies of IRS Form 6123 or payment receipt
       N/A                
Copies of tax returns filed during reporting period
       N/A                
Summary of Unpaid Post-petition Debts
   MOR-4   YES                
Listing of aged accounts payable
   MOR-4   YES                
Accounts Receivable Reconciliation and Aging
   MOR-5   YES                
Debtor Questionnaire
   MOR-5   YES                
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/ Kevin McCarthy
      August 16, 2010    
 
           
Signature of Authorized Individual*
      Date    
 
            
Kevin McCarthy
      CEO    
 
           
Printed Name of Authorized Individual
      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 Glencrest Investment Advisors, Inc.
  Case No. 08-13128 Reporting Period: 7/1/10 — 7/31/10
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 each account. [See MOR-1 (CONT)]
                                                                 
                                                    CUMULATIVE  
    BANK ACCOUNTS     CURRENT MONTH     FILING TO DATE  
    OPER.     PAYROLL     TAX     OTHER     ACTUAL     PROJECTED     ACTUAL     PROJECTED  
CASH BEGINNING OF MONTH
   $ 95,623.37                             $ 95,623.37             $ 31,278.00          
 
                                                                
CASH SALES
                                                   $ 3,516.02          
ACCOUNTS RECEIVABLE
                                                                
LOANS AND ADVANCES
                                                                
SALE OF ASSETS
                                                   $ 30,277.00          
OTHER (ATTACH LIST)1
   $ 566.97 1                           $ 566.97 1           $ 56,076.82          
TRANSFERS (FROM DIP ACCTS)
                                                   $ 196,027.42          
 
TOTAL RECEIPTS
   $ 566.97                             $ 566.97             $ 285,897.26          
 
                                                                
NET PAYROLL
                                                   $ 27,609.67          
PAYROLL TAXES
                                                                
SALES, USE & OTHER TAXES
                                                                
INVENTORY PURCHASES
                                                                
SECURED RENTAL/LEASES
                                                   $ 124,519.58          
INSURANCE
                                                                
ADMINISTRATIVE
   $ 624.74                             $ 624.74             $ 61,460.41          
SELLING
                                                                
OTHER (ATTACH LIST)
                                                                
 
                                                                
OWNER DRAW*
                                                                
TRANSFERS (TO DIP ACCTS)
                                                   $ 4,445.00          
 
                                                                
PROFESSIONAL FEES
                                                                
U.S. TRUSTEE QUARTERLY FEES
   $ 325.00                             $ 325.00             $ 3,900.00          
COURT COSTS
                                                                
TOTAL DISBURSEMENTS
   $ 949.74                             $ 949.74             $ 221,934.66          
 
                                                                
NET CASH FLOW
                                                                
(RECEIPTS LESS DISBURSEMENTS)
   $ (382.77 )                           $ (382.77 )           $ 63,962.60          
 
                                                                
CASH — END OF MONTH
   $ 95,240.60                             $ 95,240.60             $ 95,240.60          
     
*   COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE
 
         
1 California Financial Partners — June 2010
   $ 566.97  
 
      

 

 

 

THE FOLLOWING SECTION MUST BE COMPLETED
         
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES (FROM CURRENT MONTH ACTUAL COLUMN)        
TOTAL DISBURSEMENTS
   $ 949.74  
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS
   $    
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)
   $    
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES
   $ 949.74  

 

 

 

Account 9162
Account Name Glencrest Investment Advisors, Inc.
Reconciliation As of Date 07/31/10
                 
Balance per Bank
           $ 96,181.86  
 
                
Deposits in Transit
                
Date
   Amount        
 
                
Total
                
Outstanding Checks
                
Check #
   Amount        
1122
   $ 69.00          
1123
   $ 550.00          
1124
   $ 325.00          
 
                
Total
           $ (944.00 )
Other (List)
                
Service charge on bank not on books
           $ 2.74  
 
                
Balance per Books
           $ 95,240.60  

 

 

 

     
In re Glencrest Investment Advisors, Inc.
  Case No. 08-13128
 
  Reporting Period: 7/1/10 — 7/31/10
SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID
This schedule is to include all retained professional payments from case inception to current month.
                                                                         
    Period     Amount             Check     Amount Paid     Year-To-Date  
Payee   Covered     Covered     Payor     Number     Date     Fees     Expenses     Fees     Expenses  
 
                                                                        
 
                   NONE                                                

 

 

 

     
Bank of America LOGO
  Account Number 9162
 
  01 01 149 01 M0000 E# 1
CUSTOMER CONNECTION
  Last Statement: 06/30/2010
BANK OF AMERICA, N.A.
  This Statement: 07/30/2010
DALLAS, TEXAS 75283-2406
    
 
    
 
  Customer Service 1-800-342-7722
GLENCREST INVESTMENT ADVISORS, INC.
    
DEBTOR IN POSSESSION #08-13128
    
OPERATING ACCOUNT
  Page 1 of 2
2058 N. MILLS AVE #139
    
CLAREMONT CA 91711
  Bankruptcy Case Number: 0813128
CUSTOMER CONNECTION ECONOMY CHECKING
Account Summary Information
                     
Statement Period
     07/01/2010 — 07/30/2010     Statement Beginning Balance   $ 96,167.63  
Number of Deposits/Credits
     1     Amount of Deposits/Credits   $ 566.97  
Number of Checks
     1     Amount of Checks   $ 550.00  
Number of Other Debits
     2     Amount of Other Debits   $ 2.74  
 
           Statement Ending Balance   $ 96,181.86  
Number of Enclosures
     1              
 
           Service Charge   $ 2.74  
Deposits and Credits
                           
Date   Customer                 Bank
Posted   Reference   Amount   Description   Reference
07/12
         $ 566.97   CA BANKING CENTER DEPOSIT     235306360817955
Withdrawals and Debits
Checks
                                                     
Check           Date   Bank     Check             Date     Bank  
Number   Amount     Posted   Reference     Number     Amount     Posted     Reference  
1120
   $ 550.00     07/9     6892792032                                  
Other Debits
                               
Date   Customer                     Bank
Posted   Reference     Amount     Description   Reference
07/06
     1     $ 2.00     PHOTOCOPY/DOCUMENT IMAGE     09939900015
07/30
           $ 0.74     FDIC ASSESSMENT      
Daily Balances
                                         
Date   Ledger Balance     Collected Balance     Date     Ledger Balance     Collected Balance  
06/30
   $ 96,167.63     $ 96,167.63       07/15     $ 96,182.60     $ 96,148.59  
07/06
   $ 96,165.63     $ 96,165.63       07/16     $ 96,182.60     $ 96,182.60  
07/09
   $ 95,615.63     $ 95,615.63       07/30     $ 96,181.86     $ 96,181.86  
07/12
   $ 96,182.60     $ 95,615.63                          

 

 

 

     
 
  Account Number 9162
CUSTOMER CONNECTION
  01 01 149 01 M0000 E# 1
BANK OF AMERICA, N.A.
  Last Statement: 06/30/2010
DALLAS, TEXAS 75283-2406
  This Statement: 07/30/2010
 
    
 
  Customer Service 1-800-342-7722
GLENCREST INVESTMENT ADVISORS, INC.
    
 
  Page 2 of 2
 
 
  Bankruptcy Case Number: 0813128
IMPORTANT INFORMATION
CHANGE OF ADDRESS. Please call us at the customer service telephone number listed on the front of this statement to tell us about a change of address.
TERMS AND CONDITIONS. All deposits to, withdrawals from, or other transactions pertaining to your account(s) are subject to the terms and conditions of the agreement you received when you opened your account and any amendments thereto. Amendments to the agreement may be made from time to time in the manner stated therein.
IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS. If you think your statement or receipt is wrong or if you need more information about an electronic transfer (e.g., ATM transactions, direct deposits or withdrawals, point-of-sale transactions) on the statement or receipt, telephone or write us at the address or number listed on the front of this statement as soon you can. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared.
*   Tell us your name and account number
 
*   Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe there is an error or why you need more information
 
*   Tell us the dollar amount of the suspected error.
For consumer accounts used primarily for personal, family or household purposes, we will investigate your complaint and will correct any error promptly. If we take more than 10 business days (20 business days if you are a new customer, for electronic transfers occurring during the first 30 days after the first deposit is made to your account), to do this, we will re-credit your account for the amount you think is in error so that you will have use of the money during the time it takes us to complete our investigation.
For other accounts, we investigate, and if we find we have made an error, we will make the appropriate adjustment to your account at the conclusion of our investigation.
DIRECT DEPOSITS.
If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you may call us at the telephone number listed on the front of this statement to find out if the deposit was made as scheduled.
REPORTING OTHER PROBLEMS.
You must examine your statement carefully and promptly. You are in the best position to discover errors and unauthorized transactions on your account. If you fail to notify us in writing of suspected problems or unauthorized transactions within the time periods specified in the deposit agreement (which periods are no more than 60 days after we make the statement available to you and in some cases are 30 days or less), we are not liable to you for, and you agree not to make a claim against us for the problems or unauthorized transactions.

 

 

 

Glencrest Investment Advisors, Inc.
Transaction Detail by Account
July 2010
                                                     
Date   Type   Num     Name     Memo/Description     Split   Amount     Balance  
B of A Checking
                                                    
07/02/2010
   General Journal     227                     -SPLIT-     -5.74       -5.74  
07/12/2010
   General Journal     228                     -SPLIT-     566.97       561.23  
07/24/2010
   General Journal     230                     -SPLIT-     -550.00       11.23  
07/24/2010
   General Journal     231                     -SPLIT-     -325.00       -313.77  
07/24/2010
   General Journal     229                     -SPLIT-     -69.00       -382.77  
 
                                                  
Total for B of A Checking
                                         -382.77          
CA Financial Ptnr Income
                                                    
07/12/2010
   General Journal     228                     -SPLIT-     566.97       566.97  
 
                                                  
Total for CA Financial Ptnr Income
                                         566.97          
Bank Charges
                                                    
07/02/2010
   General Journal     227                     -SPLIT-     5.74       5.74  
 
                                                  
Total for Bank Charges
                                         5.74          
Office Expenses
                                                    
07/24/2010
   General Journal     229                     -SPLIT-     69.00       69.00  
 
                                                  
Total for Office Expenses
                                         69.00          
Reliable Self Storage
                                                    
07/24/2010
   General Journal     230                     -SPLIT-     550.00       550.00  
 
                                                  
Total for Reliable Self Storage
                                         550.00          
US Trustee
                                                    
07/24/2010
   General Journal     231                     -SPLIT-     325.00       325.00  
 
                                                  
Total for US Trustee
                                         325.00          

 

 

 

Journal Entry
     
Date: 07/02/2010   Entry #: 227
                 
Account   Debit     Credit  
 
Bank Charges
   $ 5.74          
B of A Checking
           $ 5.74  
 
                
Totals
   $ 5.74     $ 5.74  
Memo: B of A — June

 

 

 

Journal Entry
     
Date: 07/12/2010   Entry #: 228
                 
Account   Debit     Credit  
 
B of A Checking
   $ 566.97          
CA Financial Ptnr Income
           $ 566.97  
 
                
Totals
   $ 566.97     $ 566.97  
Memo: June 2010

 

 

 

Journal Entry
     
Date: 07/24/2010   Entry #: 230
                 
Account   Debit     Credit  
 
Reliable Self Storage
   $ 550.00          
B of A Checking
           $ 550.00  
 
                
Totals
   $ 550.00     $ 550.00  
Memo: 8/1 — 8/31/10

 

 

 

Journal Entry
     
Date: 07/24/2010   Entry #: 231
                 
Account   Debit     Credit  
 
US Trustee
   $ 325.00          
B of A Checking
           $ 325.00  
 
                
Totals
   $ 325.00     $ 325.00  
Memo: Q 2 2010

 

 

 

Journal Entry
     
Date: 07/24/2010   Entry #: 229
                 
Account   Debit     Credit  
 
Office Expenses
   $ 69.00          
B of A Checking
           $ 69.00  
 
                
Totals
   $ 69.00     $ 69.00  
Memo: Claremont Hts Postal Box Rental 8/1 — 11/1/10

 

 

 

Glencrest Investment Advisors, Inc.
Profit & Loss
July 2010
         
    Total  
Income
        
CA Financial Ptnr Income
     566.97  
 
      
Total Income
    $ 566.97  
Expenses
        
Bank Charges
     5.74  
Office Expenses
     69.00  
Reliable Self Storage
     550.00  
US Trustee
     325.00  
 
      
Total Expenses
    $ 949.74  
 
      
Net Operating Income
   -$ 382.77  
 
      
Net Income
   -$ 382.77  

 

 

 

Glencrest Investment Advisors, Inc.
Profit & Loss
December 5, 2008 — July 31, 2010
         
    Total  
Income
        
Ameritrade Close Out
     22,111.54  
CA Financial Ptnr Income
     8,305.39  
Fees Billed
     3,124.12  
Misc Asset Sales — Claremont
     30,277.00  
Rental Income Palm Desert
     27,573.93  
Sublease — PFF
     6,279.10  
Trailer Income
     3,263.56  
 
      
Total Income
    $ 100,934.64  
Expenses
        
Bank Charges
     407.95  
Computek I.T.
     1,275.00  
I 365 Data Storage
     20,751.64  
Janitorial — Claremont
     1,720.00  
Janitorial — Palm Desert
     560.00  
Legal & Professional Fees
     -7,097.45  
Office Expenses
     3,741.35  
Other General and Admin Expenses
     4,141.78  
Payroll Expenses
     27,603.90  
Reliable Self Storage
     7,687.74  
Rent — Claremont
     93,547.58  
Rent — Palm Desert
     32,194.67  
Supplies
     -233.34  
Taxes & Licenses
     2,480.41  
US Trustee
     3,900.00  
Utilities
     2,500.98  
Utilities — Gas Co
     939.56  
Utilities — Phone and Data
     13,180.03  
Utilities — SCE
     7,260.65  
Utilities — Siemens
     848.52  
Utilities — Water
     15.14  
 
      
Total Expenses
    $ 217,426.11  
 
      
Net Operating Income
   -$ 116,491.47  
Other Income
        
Other Income
     12,419.88  
 
      
Total Other Income
    $ 12,419.88  
Other Expenses
        
Miscellaneous
     54.11  
 
      
Total Other Expenses
    $ 54.11  
 
      
Net Other Income
    $ 12,365.77  
 
      
Net Income
   -$ 104,125.70  

 

 

 

Glencrest Investment Advisors, Inc.
Balance Sheet
As of July 31, 2010
         
    Total  
ASSETS
        
Current Assets
        
Bank Accounts
        
B of A Checking
     95,240.60  
PFF Checking
     0.00  
Prepaid Rent — Claremont
     0.00  
 
      
Total Bank Accounts
   $ 95,240.60  
 
      
Total Current Assets
   $ 95,240.60  
Other Assets
        
Advances to Trust
     80,000.00  
Lease Deposit
     0.00  
Net Income/Loss GIS
     58,822.00  
Prepaid — Other
     17,680.08  
Prepaid A/P
     23,437.00  
Prepaid Rent & CAM — Claremont
     0.00  
Prepaid Rent — Palm Desert
     0.00  
Prin Rec FHLMC SEC Fixed
     2,916.92  
Property & Equipment
     492,486.00  
Utility Deposit
     0.00  
Valuation Allowance
     -43,570.00  
 
      
Total Other Assets
   $ 631,772.00  
 
      
TOTAL ASSETS
   $ 727,012.60  
LIABILITIES AND EQUITY
        
Liabilities
        
Long Term Liabilities
        
125 Deductions
     5,150.00  
401K
     469.00  
Accrued Payroll
     8,000.00  
Accrued Vacation
     34,313.00  
Deferred Federal Inc Tax
     93,597.00  
Deferred State Franchise Tax
     -137,167.00  
Employer FICA Tax Payable
     27.00  
Fed Inc Tax W/H
     178.00  
Federal Employee FICA
     27.00  
Intercompany Payable
     14,433.00  
MISC Unapplied Funds
     -224.00  
Other Accrued Liability
     40,000.00  
State Tax W/H
     34.00  
Sublease Deposit
     1.00  
 
      
Total Long Term Liabilities
   $ 58,838.00  
 
      
Total Liabilities
   $ 58,838.00  
Equity
        
APIC
     6,870,597.00  
APIC — Retained Earnings
     -6,206,986.00  
Common Stock
     3.00  
Opening Balance Equity
     -1.00  
Retained Earnings
     2,474.90  
Net Income
     2,086.70  
 
      
Total Equity
   $ 668,174.60  
 
      
TOTAL LIABILITIES AND EQUITY
   $ 727,012.60  

 

 

 

     
In re Glencrest Investment Advisors, Inc.
  Case No. 08-13128
 
  Reporting Period: 7/1/10 — 7/31/10
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.
                         
        Amount               Ending
    Beginning   Withheld or   Amount       Check No.   Tax
Federal   Tax Liability   Accrued   Paid   Date Paid   _____T   Liability
Withholding
   NONE                   NONE
FICA-Employee
   NONE                   NONE
FICA-Employer
   NONE                   NONE
Unemployment
   NONE                   NONE
Income
   NONE                   NONE
Other:
   NONE                   NONE
Total Federal Taxes
   NONE                   NONE
State and Local
                        
Withholding
   NONE                   NONE
Sales
   NONE                   NONE
Excise
   NONE                   NONE
Unemployment
   NONE                   NONE
Real Property
   NONE                   NONE
Personal Property
   NONE                   NONE
Other:
   NONE                   NONE
Total State and Local
   NONE                   NONE
Total Taxes
   NONE                   NONE
SUMMARY OF UNPAID POSTPETITION DEBTS
Attach aged listing of accounts payable.
Number of Days Past Due
                         
    Current   0-30   31-60   61-90   Over 90   Total
Accounts Payable
                       NONE
Wages Payable
                       NONE
Taxes Payable
                       NONE
Rent/Leases-Building
                       NONE
Rent/Leases-Equipment
                       NONE
Secured Debt/Adequate Protection Payments
                       NONE
Professional Fees
                       NONE
Amounts Due to Insiders*
                       NONE
Other:                     
                       NONE
Other:                     
                       NONE
Total Postpetition Debts
                       NONE
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 Glencrest Investment Advisors, Inc.
      Debtor
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
     
Accounts Receivable Reconciliation    
Total Accounts Receivable at the beginning of the reporting period
   NONE
+ Amounts billed during the period
   NONE
- Amounts collected during the period
   NONE
Total Accounts Receivable at the end of the reporting period
   NONE
Accounts Receivable Aging
    
0 - 30 days old
   NONE
31 - 60 days old
   NONE
61 - 90 days old
   NONE
91 + days old
   NONE
Total Accounts Receivable
   NONE
Amount considered uncollectible (Bad Debt)
   NONE
Accounts Receivable (Net)
   NONE
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    
5. Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.
       X

 

 

 

UNITED STATES BANKRUPTCY COURT
IN THE DISTRICT OF DELAWARE
     
In re Glencrest Insurance Services, Inc.
  Case No. 08-13131
 
  Reporting Period: 7/1/10 — 7/31/10
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.
                         
                    Affidavit /  
        Document   Explanation     Supplement  
REQUIRED DOCUMENTS   Form No.   Attached   Attached     Attached  
Schedule of Cash Receipts and Disbursements
   MOR-1   YES                
Bank Reconciliation (or copies of debtor’s bank reconciliations)
   MOR-1a   YES                
Schedule of Professional Fees Paid
   MOR-1b   YES                
Copies of bank statements
       YES                
Cash disbursements journals
       YES                
Statement of Operations
   MOR-2   YES                
Balance Sheet
   MOR-3   YES                
Status of Post-petition Taxes
   MOR-4   YES                
Copies of IRS Form 6123 or payment receipt
       N/A                
Copies of tax returns filed during reporting period
       N/A                
Summary of Unpaid Post-petition Debts
   MOR-4   YES                
Listing of aged accounts payable
   MOR-4   YES                
Accounts Receivable Reconciliation and Aging
   MOR-5   YES                
Debtor Questionnaire
   MOR-5   YES                
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/ Kevin McCarthy
 
Signature of Authorized Individual*
  August 16, 2010
 
Date 		   
 
        
Kevin McCarthy
 
Printed Name of Authorized Individual
  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 Glencrest Insurance Services, Inc.
  Case No. 08-13131
 
  Reporting Period: 7/1/10 — 7/31/10
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 each account. [See MOR-1 (CONT)]
                                                                 
                                    CURRENT     CUMULATIVE  
    BANK ACCOUNTS     MONTH     FILING TO DATE  
    OPER.     PAYROLL     TAX     OTHER     ACTUAL     PROJECTED     ACTUAL     PROJECTED  
CASH BEGINNING OF MONTH
   $ 86,162.07                             $ 86,162.07             $ 44,046.24          
 
                                                                
RECEIPTS
                                                                
CASH SALES
   $ 4,132.02                             $ 4,132.02             $ 48,095.43          
ACCOUNTS RECEIVABLE
                                                                
LOANS AND ADVANCES
                                                                
SALE OF ASSETS
                                                   $ 307.22          
OTHER (ATTACH LIST)
                                                                
TRANSFERS (FROM DIP ACCTS)
                                                                
 
                                                                
TOTAL RECEIPTS
   $ 4,132.02                             $ 4,132.02             $ 48,402.65          
 
                                                                
DISBURSEMENTS
                                                                
NET PAYROLL
                                                                
PAYROLL TAXES
                                                                
SALES, USE & OTHER TAXES
                                                                
INVENTORY PURCHASES
                                                                
SECURED RENTAL/LEASES
                                                                
INSURANCE
                                                                
ADMINISTRATIVE
   $ 14.66                             $ 14.66             $ 219.46          
SELLING
                                                                
OTHER (ATTACH LIST)
                                                                
 
                                                                
OWNER DRAW*
                                                                
TRANSFERS (TO DIP ACCTS)
                                                                
 
                                                                
PROFESSIONAL FEES
                                                                
U.S. TRUSTEE QUARTERLY FEES
   $ 325.00                             $ 325.00             $ 2,275.00          
COURT COSTS
                                                                
TOTAL DISBURSEMENTS
   $ 339.66                             $ 339.66             $ 2,494.46          
 
                                                                
NET CASH FLOW
                                                                
(RECEIPTS LESS DISBURSEMENTS)
   $ 3,792.36                             $ 3,792.36             $ 45,908.19          
 
                                                                
CASH — END OF MONTH
   $ 89,954.43                             $ 89,954.43             $ 89,954.43          
     
*   COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE
THE FOLLOWING SECTION MUST BE COMPLETED
         
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES (FROM CURRENT MONTH ACTUAL COLUMN)        
TOTAL DISBURSEMENTS
   $ 339.66  
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS
   $    
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)
   $    
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES
   $ 339.66  

 

 

 

Account 8202
Account Name Glencrest Insurance Services, Inc.
Reconciliation As of Date 7/31/10
                 
Balance per Bank
           $ 90,276.73  
 
                
Deposits in Transit
                
Date
   Amount        
 
                
Total
                
 
                
Outstanding Checks
                
Check #
   Amount        
1009
   $ 325.00          
 
                
Total
           $ (325.00 )
Other (List)
                
Service charge on bank not on books
           $ 2.70  
 
                
Balance per Books
           $ 89,954.43  

 

 

 

     
In re Glencrest Insurance Services, Inc.
  Case No. 08-13131
 
  Reporting Period: 7/1/10 — 7/31/10
SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID
This schedule is to include all retained professional payments from case inception to current month.
                                                                         
    Period     Amount             Check     Amount Paid     Year-To-Date  
Payee   Covered     Covered     Payor     Number     Date     Fees     Expenses     Fees     Expenses  
 
                                                                        
 
                   NONE                                                

 

 

 

     
Bank of America LOGO
  Account Number 8202
 
  01 01 149 01 M0000 E# 0
CUSTOMER CONNECTION
  Last Statement: 06/30/2010
BANK OF AMERICA, N.A.
  This Statement: 07/30/2010
DALLAS, TEXAS 75283-2406
    
 
    
 
  Customer Service 1-800-342-7722
GLENCREST INSURANCE SERVICES, INC.
    
DEBTOR IN POSSESSION #08-13131
    
2058 N. MILLS AVE #139
  Page 1 of 2
CLAREMONT CA 91711
    
 
  Bankruptcy Case Number: 0813131
CUSTOMER CONNECTION ECONOMY CHECKING
Account Summary Information
                     
Statement Period
     07/01/2010 — 07/30/2010     Statement Beginning Balance   $ 86,147.41  
Number of Deposits/Credits
     1     Amount of Deposits/Credits   $ 4,132.02  
Number of Checks
     0     Amount of Checks   $ 0.00  
Number of Other Debits
     2     Amount of Other Debits   $ 2.70  
 
           Statement Ending Balance   $ 90,276.73  
Number of Enclosures
     0              
 
           Service Charge   $ 2.70  
Deposits and Credits
                             
Date   Customer                 Bank  
Posted   Reference     Amount     Description   Reference  
07/26
           $ 4,132.02     CA BANKING CENTER DEPOSIT     235305760349693  
Withdrawals and Debits
Other Debits
                             
Date   Customer               Bank  
Posted   Reference     Amount     Description   Reference  
07/06
     1     $ 2.00     PHOTOCOPY/DOCUMENT IMAGE     09939900014  
07/30
           $ 0.70     FDIC ASSESSMENT        
Daily Balances
                                         
Date   Ledger Balance     Collected Balance     Date     Ledger Balance     Collected Balance  
06/30
   $ 86,147.41     $ 86,147.41       07/29     $ 90,277.43     $ 90.029.53  
07/06
   $ 86,145.41     $ 86,145.41       07/30     $ 90,276.73     $ 90,276.73  
07/26
   $ 90,277.43     $ 86,145.41                          

 

 

 

     
 
  Account Number 8202
CUSTOMER CONNECTION
  01 01 149 01 M0000 E# 0
BANK OF AMERICA, N.A.
  Last Statement: 06/30/2010
DALLAS, TEXAS 75283-2406
  This Statement: 07/30/2010
 
    
 
  Customer Service 1-800-342-7722
GLENCREST INSURANCE SERVICES, INC.
    
 
    
 
  Page 2 of 2
 
    
 
  Bankruptcy Case Number: 0813131
IMPORTANT INFORMATION
CHANGE OF ADDRESS. Please call us at the customer service telephone number listed on the front of this statement to tell us about a change of address.
TERMS AND CONDITIONS. All deposits to, withdrawals from, or other transactions pertaining to your account(s) are subject to the terms and conditions of the agreement you received when you opened your account and any amendments thereto. Amendments to the agreement may be made from time to time in the manner stated therein.
IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS. If you think your statement or receipt is wrong or if you need more information about an electronic transfer (e.g., ATM transactions, direct deposits or withdrawals, point-of-sale transactions) on the statement or receipt, telephone or write us at the address or number listed on the front of this statement as soon you can. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared.
*   Tell us your name and account number
 
*   Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe there is an error or why you need more information
 
*   Tell us the dollar amount of the suspected error.
For consumer accounts used primarily for personal, family or household purposes, we will investigate your complaint and will correct any error promptly. If we take more than 10 business days (20 business days if you are a new customer, for electronic transfers occurring during the first 30 days after the first deposit is made to your account), to do this, we will re-credit your account for the amount you think is in error so that you will have use of the money during the time it takes us to complete our investigation.
For other accounts, we investigate, and if we find we have made an error, we will make the appropriate adjustment to your account at the conclusion of our investigation.
DIRECT DEPOSITS.
If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you may call us at the telephone number listed on the front of this statement to find out if the deposit was made as scheduled.
REPORTING OTHER PROBLEMS.
You must examine your statement carefully and promptly. You are in the best position to discover errors and unauthorized transactions on your account. If you fail to notify us in writing of suspected problems or unauthorized transactions within the time periods specified in the deposit agreement (which periods are no more than 60 days after we make the statement available to you and in some cases are 30 days or less), we are not liable to you for, and you agree not to make a claim against us for the problems or unauthorized transactions.

 

 

 

Glencrest Insurance Services, Inc.
Transaction Detail by Account
July 2010
                                                 
Date   Type   Num     Name     Memo/Description     Split   Amount     Balance  
B of A Checking
                                                
07/02/2010
   General Journal     86                     -SPLIT-     -14.66       -14.66  
07/24/2010
   General Journal     88                     -SPLIT-     -325.00       -339.66  
07/24/2010
   General Journal     87                     -SPLIT-     4,132.02       3,792.36  
 
                                              
Total for B of A Checking
                                     3,792.36          
Fees Billed
                                                
07/24/2010
   General Journal     87                     -SPLIT-     4,132.02       4,132.02  
 
                                              
Total for Fees Billed
                                     4,132.02          
Bank Charges
                                                
07/02/2010
   General Journal     86                     -SPLIT-     14.66       14.66  
 
                                              
Total for Bank Charges
                                     14.66          
US Trustee
                                                
07/24/2010
   General Journal     88                     -SPLIT-     325.00       325.00  
 
                                              
Total for US Trustee
                                     325.00          

 

 

 

     
Journal Entry   Entry #: 86
Date: 07/02/2010
                 
Account   Debit     Credit  
 
                
Bank Charges
   $ 14.66          
B of A Checking
           $ 14.66  
 
                
Totals
   $ 14.66     $ 14.66  
Memo: B of A — June

 

 

 

     
Journal Entry   Entry #: 88
Date: 07/24/2010
                 
Account   Debit     Credit  
 
                
US Trustee
   $ 325.00          
B of A Checking
           $ 325.00  
 
                
Totals
   $ 325.00     $ 325.00  
Memo: Q 2 2010

 

 

 

     
Journal Entry   Entry #: 87
Date: 07/24/2010
                 
Account   Debit     Credit  
 
                
B of A Checking
   $ 4,132.02          
Fees Billed
           $ 4,132.02  
 
                
Totals
   $ 4,132.02     $ 4,132.02  
Memo: Principal $256.44, Affinion $2,984.72 + $502.26, Transamerica $134.67 + 132.18 + 121.75

 

 

 

Glencrest Insurance Services, Inc.
Profit & Loss
July 2010
         
    Total  
Income
        
Fees Billed
     4,132.02  
 
      
Total Income
   $ 4,132.02  
Expenses
        
Bank Charges
     14.66  
US Trustee
     325.00  
 
      
Total Expenses
   $ 339.66  
 
      
Net Operating Income
   $ 3,792.36  
 
      
Net Income
   $ 3,792.36  

 

 

 

Glencrest Insurance Services, Inc.
Profit & Loss
December 5, 2008 — July 31, 2010
         
    Total  
Income
        
Fees Billed
     48,095.43  
 
      
Total Income
   $ 48,095.43  
Expenses
        
Bank Charges
     219.46  
Taxes & Licenses
     0.00  
US Trustee
     2,275.00  
 
      
Total Expenses
   $ 2,494.46  
 
      
Net Operating Income
   $ 45,600.97  
Other Income
        
Other Income
     307.22  
 
      
Total Other Income
   $ 307.22  
 
      
Net Other Income
   $ 307.22  
 
      
Net Income
   $ 45,908.19  

 

 

 

Glencrest Insurance Services, Inc.
Balance Sheet
As of July 31, 2010
         
    Total  
ASSETS
        
Current Assets
        
Bank Accounts
        
B of A Checking
     89,954.43  
Operating Acct
     0.00  
PFF Checking
     0.00  
 
      
Total Bank Accounts
   $ 89,954.43  
 
      
Total Current Assets
   $ 89,954.43  
Other Assets
        
Prepaid Expenses and Other Assets
     36,194.00  
Property & Equipment
     16,201.00  
 
      
Total Other Assets
   $ 52,395.00  
 
      
TOTAL ASSETS
   $ 142,349.43  
LIABILITIES AND EQUITY
        
Liabilities
        
Long Term Liabilities
        
Deferred Tax
     36,194.00  
Fees Payable
     -322.00  
 
      
Total Long Term Liabilities
   $ 35,872.00  
 
      
Total Liabilities
   $ 35,872.00  
Equity
        
APIC — R/E Dividends Paid
     -5,440,000.00  
APIC — Retained Earnings
     5,480,569.00  
Common Stock
     20,000.00  
Opening Balance Equity
     0.24  
Retained Earnings
     34,193.43  
Net Income
     11,714.76  
 
      
Total Equity
   $ 106,477.43  
 
      
TOTAL LIABILITIES AND EQUITY
   $ 142,349.43  

 

 

 

     
In re Glencrest Insurance Services, Inc.
  Case No. 08-13131
 
  Reporting Period: 7/1/10 — 7/31/10
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.
                                         
        Amount                             Ending
    Beginning   Withheld or     Amount             Check No.     Tax
Federal   Tax Liability   Accrued     Paid     Date Paid     _____T     Liability
Withholding
   NONE                                   NONE
FICA-Employee
   NONE                                   NONE
FICA-Employer
   NONE                                   NONE
Unemployment
   NONE                                   NONE
Income
   NONE                                   NONE
Other:
   NONE                                   NONE
Total Federal Taxes
   NONE                                   NONE
State and Local
                                        
Withholding
   NONE                                   NONE
Sales
   NONE                                   NONE
Excise
   NONE                                   NONE
Unemployment
   NONE                                   NONE
Real Property
   NONE                                   NONE
Personal Property
   NONE                                   NONE
Other:
   NONE                                   NONE
Total State and Local
   NONE                                   NONE
Total Taxes
   NONE                                   NONE
SUMMARY OF UNPAID POSTPETITION DEBTS
Attach aged listing of accounts payable.
Number of Days Past Due
                                             
    Current     0-30     31-60     61-90     Over 90     Total
Accounts Payable
                                           NONE
Wages Payable
                                           NONE
Taxes Payable
                                           NONE
Rent/Leases-Building
                                           NONE
Rent/Leases-Equipment
                                           NONE
Secured Debt/Adequate Protection Payments
                                           NONE
Professional Fees
                                           NONE
Amounts Due to Insiders*
                                           NONE
Other: _____________
                                           NONE
Other: _____________
                                           NONE
Total Postpetition Debts
                                           NONE
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   Glencrest Insurance Services, Inc.
Debtor
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
     
Accounts Receivable Reconciliation
    
Total Accounts Receivable at the beginning of the reporting period
   NONE
+ Amounts billed during the period
   NONE
- Amounts collected during the period
   NONE
Total Accounts Receivable at the end of the reporting period
   NONE
Accounts Receivable Aging
    
0 - 30 days old
   NONE
31 - 60 days old
   NONE
61 - 90 days old
   NONE
91 + days old
   NONE
Total Accounts Receivable
   NONE
Amount considered uncollectible (Bad Debt)
   NONE
Accounts Receivable (Net)
   NONE
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          
5. Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.
             X  

 

 

 

UNITED STATES BANKRUPTCY COURT
IN THE DISTRICT OF DELAWARE
     
In re Diversified Builder Services, Inc.   Case No. 08-13129
    Reporting Period: 7/1/10 — 7/31/10
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.
                         
                    Affidavit /  
        Document   Explanation     Supplement  
REQUIRED DOCUMENTS   Form No.   Attached   Attached     Attached  
Schedule of Cash Receipts and Disbursements
   MOR-1   YES                
Bank Reconciliation (or copies of debtor’s bank reconciliations)
   MOR-1a   YES                
Schedule of Professional Fees Paid
   MOR-1b   YES                
Copies of bank statements
       YES                
Cash disbursements journals
       YES                
Statement of Operations
   MOR-2   YES                
Balance Sheet
   MOR-3   YES                
Status of Post-petition Taxes
   MOR-4   YES                
Copies of IRS Form 6123 or payment receipt
       N/A                
Copies of tax returns filed during reporting period
       N/A                
Summary of Unpaid Post-petition Debts
   MOR-4   YES                
Listing of aged accounts payable
   MOR-4   YES                
Accounts Receivable Reconciliation and Aging
   MOR-5   YES                
Debtor Questionnaire
   MOR-5   YES                
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/ Kevin McCarthy
 
Signature of Authorized Individual*
  August 16, 2010
 
Date 		   
 
        
Kevin McCarthy
 
Printed Name of Authorized Individual
  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 Diversified Builder Services, Inc.   Case No. 08-13129
    Reporting Period: 7/1/10 — 7/31/10
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 each account. [See MOR-1 (CONT)]
                                                                 
                                                    CUMULATIVE  
    BANK ACCOUNTS     CURRENT MONTH     FILING TO DATE  
    OPER.     PAYROLL     TAX     OTHER     ACTUAL     PROJECTED     ACTUAL     PROJECTED  
CASH BEGINNING OF MONTH
   $ 1,409,798.11                             $ 1,409,798.11             $ 1,186,035.00          
 
RECEIPTS
                                                                
CASH SALES
                                                                
ACCOUNTS RECEIVABLE
                                                                
LOANS AND ADVANCES
                                                                
SALE OF ASSETS
                                                                
OTHER (ATTACH LIST)
                                                                
TRANSFERS (FROM DIP ACCTS)
                                                   $ 227,179.23          
 
                                                                
TOTAL RECEIPTS
                                                   $ 227,179.23          
 
                                                                
DISBURSEMENTS
                                                                
NET PAYROLL
                                                                
PAYROLL TAXES
                                                                
SALES, USE & OTHER TAXES
                                                                
INVENTORY PURCHASES
                                                                
SECURED RENTAL/LEASES
                                                                
INSURANCE
                                                                
ADMINISTRATIVE
   $ 12.86                             $ 12.86             $ 1,379.64          
SELLING
                                                                
OTHER (ATTACH LIST)
                                                   $ 99.34          
 
OWNER DRAW*
                                                                
TRANSFERS (TO DIP ACCTS)
                                                                
PROFESSIONAL FEES
                                                                
U.S. TRUSTEE QUARTERLY FEES
   $ 325.00                             $ 325.00             $ 2,275.00          
COURT COSTS
                                                                
TOTAL DISBURSEMENTS
   $ 337.86                             $ 337.86             $ 3,753.98          
 
NET CASH FLOW
                                                                
(RECEIPTS LESS DISBURSEMENTS)
   $ (337.86 )                           $ (337.86 )           $ 223,425.25          
 
                                                                
CASH — END OF MONTH
   $ 1,409,460.25                             $ 1,409,460.25             $ 1,409,460.25          
     
*   COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE
THE FOLLOWING SECTION MUST BE COMPLETED
         
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES (FROM CURRENT MONTH ACTUAL COLUMN)        
TOTAL DISBURSEMENTS
   $ 337.86  
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS
   $    
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)
   $    
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES
   $ 337.86  

 

 

 

Account 9188
Account Name Diversified Builder Services, Inc.
Reconciliation As of Date 7/31/10
               
Balance per Bank
         $ 1,409,772.39  
     
Deposits in Transit
              
Date
     Amount        
 
              
Total
              
 
              
Outstanding Checks
              
Check #
   Amount        
1010
   $ 325.00        
 
Total
         $ (325.00 )
Other (List)
              
Service charge on bank not on books
         $ 12.86  
 
              
Balance per Books
         $ 1,409,460.25  

 

 

 

     
In re Diversified Builder Services, Inc.   Case No. 08-13129
    Reporting Period: 7/1/10 — 7/31/10
SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID
This schedule is to include all retained professional payments from case inception to current month.
                                                                         
    Period     Amount             Check     Amount Paid     Year-To-Date  
Payee   Covered     Covered     Payor     Number     Date     Fees     Expenses     Fees     Expenses  
 
                                                                        
 
                   NONE                                                

 

 

 

     
Bank of America LOGO
  Account Number 9188
 
  01 01 149 01 M0000 E# 0
CUSTOMER CONNECTION
  Last Statement: 06/30/2010
BANK OF AMERICA, N.A.
  This Statement: 07/30/2010
DALLAS, TEXAS 75283-2406
    
 
    
 
  Customer Service 1-800-342-7722
DIVERSIFIED BUILDER SERVICES, INC.
    
DEBTOR IN POSSESSION #08-13129
    
OPERATING ACCOUNT
  Page 1 of 2
1490 N CLAREMONT BLVD,
    
CLAREMONT CA 91711
  Bankruptcy Case Number: 0813129
CUSTOMER CONNECTION ECONOMY CHECKING
Account Summary Information
                     
Statement Period
     07/01/2010 — 07/30/2010     Statement Beginning Balance   $ 1,409,785.25  
Number of Deposits/Credits
     0     Amount of Deposits/Credits   $ 0.00  
Number of Checks
     0     Amount of Checks   $ 0.00  
Number of Other Debits
     2     Amount of Other Debits   $ 12.86  
 
           Statement Ending Balance   $ 1,409,772.39  
Number of Enclosures
     0              
 
           Service Charge   $ 12.86  
Withdrawals and Debits
Other Debits
                             
Date   Customer                 Bank  
Posted   Reference     Amount     Description   Reference  
07/06
     1     $ 2.00     PHOTOCOPY/DOCUMENT IMAGE     09939900016  
07/30
           $ 10.86     FDIC ASSESSMENT        
Daily Balances
                                         
Date   Ledger Balance     Collected Balance     Date     Ledger Balance     Collected Balance  
06/30
   $ 1,409,785.25     $ 1,409,785.25       07/30     $ 1,409,772.39     $ 1,409,772.39  
07/06
   $ 1,409,783.25     $ 1,409,783.25                          

 

 

 

     
CUSTOMER CONNECTION
  Account Number 9188
BANK OF AMERICA, N.A.
  01 01 149 01 M0000 E# 0
DALLAS, TEXAS 75283-2406
  Last Statement: 06/30/2010
 
   This Statement: 07/30/2010
 
    
 
  Customer Service 1-800-342-7722
DIVERSIFIED BUILDER SERVICES, INC.
   
Page 2 of 2
 
 
  Bankruptcy Case Number: 0813129
IMPORTANT INFORMATION
CHANGE OF ADDRESS. Please call us at the customer service telephone number listed on the front of this statement to tell us about a change of address.
TERMS AND CONDITIONS. All deposits to, withdrawals from, or other transactions pertaining to your account(s) are subject to the terms and conditions of the agreement you received when you opened your account and any amendments thereto. Amendments to the agreement may be made from time to time in the manner stated therein.
IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS. If you think your statement or receipt is wrong or if you need more information about an electronic transfer (e.g., ATM transactions, direct deposits or withdrawals, point-of-sale transactions) on the statement or receipt, telephone or write us at the address or number listed on the front of this statement as soon you can. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared.
*   Tell us your name and account number
 
*   Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe there is an error or why you need more information
 
*   Tell us the dollar amount of the suspected error.
For consumer accounts used primarily for personal, family or household purposes, we will investigate your complaint and will correct any error promptly. If we take more than 10 business days (20 business days if you are a new customer, for electronic transfers occurring during the first 30 days after the first deposit is made to your account), to do this, we will re-credit your account for the amount you think is in error so that you will have use of the money during the time it takes us to complete our investigation.
For other accounts, we investigate, and if we find we have made an error, we will make the appropriate adjustment to your account at the conclusion of our investigation.
DIRECT DEPOSITS.
If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you may call us at the telephone number listed on the front of this statement to find out if the deposit was made as scheduled.
REPORTING OTHER PROBLEMS.
You must examine your statement carefully and promptly. You are in the best position to discover errors and unauthorized transactions on your account. If you fail to notify us in writing of suspected problems or unauthorized transactions within the time periods specified in the deposit agreement (which periods are no more than 60 days after we make the statement available to you and in some cases are 30 days or less), we are not liable to you for, and you agree not to make a claim against us for the problems or unauthorized transactions.

 

 

 

Diversified Builder Services, Inc.
Transaction Detail by Account
July 2010
                                                     
Date   Type   Num     Name     Memo/Description     Split   Amount     Balance  
B of A Checking
                                                    
07/02/2010
   General Journal     35                     -SPLIT-     -12.86       -12.86  
07/24/2010
   General Journal     36                     -SPLIT-     -325.00       -337.86  
 
                                                  
Total for B of A Checking
                                         -337.86          
Bank Charges
                                                    
07/02/2010
   General Journal     35                     -SPLIT-     12.86       12.86  
 
                                                  
Total for Bank Charges
                                         12.86          
U S Trustee
                                                    
07/24/2010
   General Journal     36                     -SPLIT-     325.00       325.00  
 
                                                  
Total for U S Trustee
                                         325.00          

 

 

 

     
Journal Entry
  Entry #: 35
Date: 07/02/2010
                 
Account   Debit     Credit  
 
                
Bank Charges
   $ 12.86          
B of A Checking
           $ 12.86  
 
                
Totals
   $ 12.86     $ 12.86  
 
                
Memo: B of A — June
                

 

 

 

     
 
    
Journal Entry
  Entry #: 36
Date: 07/24/2010
                 
Account   Debit     Credit  
 
                
US Trustee
   $ 325.00          
B of A Checking
           $ 325.00  
 
                
Totals
   $ 325.00     $ 325.00  
 
                
Memo: Q 2 2010
                

 

 

 

Diversified Builder Services, Inc.
Profit & Loss
July 2010
         
    Total  
Income
        
Total Income
        
Expenses
        
Bank Charges
     12.86  
U S Trustee
     325.00  
 
      
Total Expenses
    $ 337.86  
 
      
Net Operating Income
   -$ 337.86  
 
      
Net Income
   -$ 337.86  

 

 

 

Diversified Builder Services, Inc.
Profit & Loss
December 5, 2008 — July 31, 2010
         
    Total  
Income
        
Lafferty Tax Refunds
     227,179.23  
 
      
Total Income
    $ 227,179.23  
Expenses
        
Appraisal Services
     1,000.00  
Bank Charges
     379.64  
Taxes & Licenses
     0.00  
U S Trustee
     2,275.00  
 
      
Total Expenses
    $ 3,654.64  
 
      
Net Operating Income
    $ 223,524.59  
Other Income
        
Other Income
     -99.34  
 
      
Total Other Income
   -$ 99.34  
 
      
Net Other Income
   -$ 99.34  
 
      
Net Income
    $ 223,425.25  

 

 

 

Diversified Builder Services, Inc.
Balance Sheet
As of July 31, 2010
         
    Total  
ASSETS
        
Current Assets
        
Bank Accounts
        
B of A Checking
     1,409,460.25  
PFF Checking
     0.00  
PFF Checking — 10102
     0.00  
 
      
Total Bank Accounts
    $ 1,409,460.25  
 
      
Total Current Assets
    $ 1,409,460.25  
Other Assets
        
100% Loan Loss — Comm Loans — MI
     -300,000.00  
Accounts Receivable
     288,500.00  
Commercial LOC — MI
     7,800,000.00  
Commercial LOC Contra Asset — CLS
     -1,050.00  
Def Income — Comm Non Accr
     -217,552.00  
Partial Charge-Offs Comm. Unsecured
     -5,729,081.00  
Property & Equipment
     7,489.00  
Val Allow — FIT Deferred Taxes
     1,951,021.00  
Val Allow — SIT Deferred Taxes
     -6,886,601.00  
 
      
Total Other Assets
   -$ 3,087,274.00  
 
      
TOTAL ASSETS
   -$ 1,677,813.75  
LIABILITIES AND EQUITY
        
Liabilities
        
Long Term Liabilities
        
Accrued Interest — Notes Payable
     304,034.00  
DBS Insurance Payable
     160.00  
Deferred Fed Income Taxes
     1,951,021.00  
Deferred Income
     288,500.00  
Deferred State Inc Taxes
     -6,886,601.00  
Intercompany Payable
     6.00  
Notes Payable
     19,280,093.00  
 
      
Total Long Term Liabilities
    $ 14,937,213.00  
 
      
Total Liabilities
    $ 14,937,213.00  
Equity
        
APIC
     28,000,000.00  
APIC — Retained Earnings
     -44,838,453.00  
Opening Balance Equity
     1.00  
Retained Earnings
     224,522.13  
Net Income
     -1,096.88  
 
      
Total Equity
   -$ 16,615,026.75  
 
      
TOTAL LIABILITIES AND EQUITY
   -$ 1,677,813.75  

 

 

 

     
In re Diversified Builder Services, Inc.   Case No. 08-13129
    Reporting Period: 7/1/10 — 7/31/10
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.
                                                 
            Amount                             Ending  
    Beginning     Withheld or     Amount             Check No.     Tax  
Federal   Tax Liability     Accrued     Paid     Date Paid     _____T     Liability  
Withholding
   NONE                                   NONE
FICA-Employee
   NONE                                   NONE
FICA-Employer
   NONE                                   NONE
Unemployment
   NONE                                   NONE
Income
   NONE                                   NONE
Other:
   NONE                                   NONE
Total Federal Taxes
   NONE                                   NONE
State and Local
                                                
Withholding
   NONE                                   NONE
Sales
   NONE                                   NONE
Excise
   NONE                                   NONE
Unemployment
   NONE                                   NONE
Real Property
   NONE                                   NONE
Personal Property
   NONE                                   NONE
Other:
   NONE                                   NONE
Total State and Local
   NONE                                   NONE
Total Taxes
   NONE                                   NONE
SUMMARY OF UNPAID POSTPETITION DEBTS
Attach aged listing of accounts payable.
Number of Days Past Due
                                                 
    Current     0-30     31-60     61-90     Over 90     Total  
Accounts Payable
                                           NONE
Wages Payable
                                           NONE
Taxes Payable
                                           NONE
Rent/Leases-Building
                                           NONE
Rent/Leases-Equipment
                                                
Secured Debt/Adequate Protection Payments
                                           NONE
Professional Fees
                                           NONE
Amounts Due to Insiders*
                                           NONE
Other: _____________
                                           NONE
Other: _____________
                                           NONE
Total Postpetition Debts
                                           NONE
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 Diversified Builder Services, Inc.
Debtor
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
         
Accounts Receivable Reconciliation
        
Total Accounts Receivable at the beginning of the reporting period
   $ 7,800,000.00  
+ Amounts billed during the period
        
- Amounts collected during the period
        
Total Accounts Receivable at the end of the reporting period
   $ 7,800,000.00  
Accounts Receivable Aging
        
0 - 30 days old
        
31 - 60 days old
        
61 - 90 days old
        
91 + days old
   $ 7,800,000.00  
Total Accounts Receivable
   $ 7,800,000.00  
Amount considered uncollectible (Bad Debt)
   $ 5,729,081.00  
Accounts Receivable (Net)
   $ 2,070,919.00  
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    
5. Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.
       X

 

 

 

UNITED STATES BANKRUPTCY COURT
IN THE DISTRICT OF DELAWARE
     
In re PFF Real Estate Services, Inc.
  Case No. 08-13130
 
  Reporting Period: 7/1/10 — 7/31/10
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.
                         
                    Affidavit /  
        Document   Explanation     Supplement  
REQUIRED DOCUMENTS   Form No.   Attached   Attached     Attached  
Schedule of Cash Receipts and Disbursements
   MOR-1   YES                
Bank Reconciliation (or copies of debtor’s bank reconciliations)
   MOR-1a   YES                
Schedule of Professional Fees Paid
   MOR-1b   YES                
Copies of bank statements
       YES                
Cash disbursements journals
       YES                
Statement of Operations
   MOR-2   YES                
Balance Sheet
   MOR-3   YES                
Status of Post-petition Taxes
   MOR-4   YES                
Copies of IRS Form 6123 or payment receipt
       N/A                
Copies of tax returns filed during reporting period
       N/A                
Summary of Unpaid Post-petition Debts
   MOR-4   YES                
Listing of aged accounts payable
   MOR-4   YES                
Accounts Receivable Reconciliation and Aging
   MOR-5   YES                
Debtor Questionnaire
   MOR-5   YES                
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/ Kevin McCarthy
  August 16, 2010
 
   
Signature of Authorized Individual*
  Date
 
    
Kevin McCarthy
  CEO
 
   
Printed Name of Authorized Individual
  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 PFF Real Estate Services, Inc.
  Case No. 08-13130
 
  Reporting Period: 7/1/10 — 7/31/10
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 each account. [See MOR-1 (CONT)]
                                                                 
                                                    CUMULATIVE  
    BANK ACCOUNTS     CURRENT MONTH     FILING TO DATE  
    OPER.     PAYROLL     TAX     OTHER     ACTUAL     PROJECTED     ACTUAL     PROJECTED  
CASH BEGINNING OF MONTH
   $ 23,663.84                             $ 23,663.84             $ 25,725.04          
 
                                                                
RECEIPTS
                                                                
CASH SALES
                                                                
ACCOUNTS RECEIVABLE
                                                                
LOANS AND ADVANCES
                                                                
SALE OF ASSETS
                                                                
OTHER (ATTACH LIST)
                                                                
TRANSFERS (FROM DIP ACCTS)
                                                                
 
                                                                
TOTAL RECEIPTS
                                                                
 
                                                                
DISBURSEMENTS
                                                                
NET PAYROLL
                                                                
PAYROLL TAXES
                                                                
SALES, USE & OTHER TAXES
                                                                
INVENTORY PURCHASES
                                                                
SECURED RENTAL/LEASES
                                                                
INSURANCE
                                                                
ADMINISTRATIVE
   $ 11.18                             $ 11.18             $ 122.38          
SELLING OTHER (ATTACH LIST)
                                                                
 
                                                                
OWNER DRAW*
                                                                
TRANSFERS (TO DIP ACCTS)
                                                                
 
                                                                
PROFESSIONAL FEES
                                                                
U.S. TRUSTEE QUARTERLY FEES
   $ 325.00                             $ 325.00             $ 2,275.00          
COURT COSTS
                                                                
TOTAL DISBURSEMENTS
   $ 336.18                             $ 336.18             $ 2,397.38          
 
                                                                
NET CASH FLOW
                                                                
(RECEIPTS LESS DISBURSEMENTS)
   $ (336.18 )                           $ (336.18 )           $ (2,397.38 )        
 
                                                                
CASH — END OF MONTH
   $ 23,327.66                             $ 23,327.66             $ 23,327.66          
     
*   COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE
THE FOLLOWING SECTION MUST BE COMPLETED
         
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES (FROM CURRENT MONTH ACTUAL COLUMN)        
TOTAL DISBURSEMENTS
   $ 336.18  
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS
   $    
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)
   $    
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES
   $ 336.18  

 

 

 

Account 8192
Account Name PFF Real Estate Services, Inc.
Reconciliation As of Date 7/31/10
                 
Balance per Bank
           $ 23,650.48  
 
                
Deposits in Transit
                
Date
   Amount        
 
                
Total
                
 
                
Outstanding Checks
                
Check #
     Amount        
1008
     $ 325.00        
 
                
Total
           $ (325.00 )
 
                
Other (List)
                
 
                
Service charge on bank not on books
           $ 2.18  
 
                
Balance per Books
           $ 23,327.66  

 

 

 

     
In re PFF Real Estate Services, Inc.
  Case No. 08-13130
 
  Reporting Period: 7/1/10 — 7/31/10
SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID
This schedule is to include all retained professional payments from case inception to current month.
                                                                         
    Period     Amount             Check     Amount Paid     Year-To-Date  
Payee   Covered     Covered     Payor     Number     Date     Fees     Expenses     Fees     Expenses  
 
 
                   NONE                                                

 

 

 

     
Bank of America LOGO
  Account Number 8192
 
  01 01 149 01 M0000 E# 0
CUSTOMER CONNECTION
  Last Statement: 06/30/2010
BANK OF AMERICA, N.A.
  This Statement: 07/30/2010
DALLAS, TEXAS 75283-2406
    
 
  Customer Service 1-800-342-7722
PFF REAL ESTATE SERVICES, INC.
    
DEBTOR IN POSSESSION #08-13130
    
2058 N. MILLS AVE #139
  Page 1 of 2
CLAREMONT CA 91711
    
 
  Bankruptcy Case Number: 0813130
CUSTOMER CONNECTION ECONOMY CHECKING
Account Summary Information
                     
Statement Period
    07/01/2010 — 07/30/2010     Statement Beginning Balance   $ 23,652.66  
Number of Deposits/Credits
    0     Amount of Deposits/Credits   $ 0.00  
Number of Checks
    0     Amount of Checks   $ 0.00  
Number of Other Debits
    2     Amount of Other Debits   $ 2.18  
 
          Statement Ending Balance   $ 23,650.48  
Number of Enclosures
    0              
 
          Service Charge   $ 2.18  
Withdrawals and Debits
Other Debits
                                 
Date   Customer                     Bank  
Posted   Reference     Amount     Description     Reference  
07/06
     1     $ 2.00     PHOTOCOPY/DOCUMENT IMAGE       09939900013  
07/30
           $ 0.18     FDIC ASSESSMENT        
Daily Balances
                                         
Date   Ledger Balance     Collected Balance     Date     Ledger Balance     Collected Balance  
06/30
   $ 23,652.66     $ 23,652.66       07/30     $ 23,650.48     $ 23,650.48  
07/06
   $ 23,650.66     $ 23,650.66                          

 

 

 

     
CUSTOMER CONNECTION
  Account Number 8192
BANK OF AMERICA, N.A.
   01 01 149 01 M0000 E# 0
DALLAS, TEXAS 75283-2406
   Last Statement: 06/30/2010
  This Statement: 07/30/2010
 
    
 
  Customer Service 1-800-342-7722
PFF REAL ESTATE SERVICES, INC.
    
 
    
 
  Page 2 of 2
 
    
 
  Bankruptcy Case Number: 0813130
IMPORTANT INFORMATION
CHANGE OF ADDRESS. Please call us at the customer service telephone number listed on the front of this statement to tell us about a change of address.
TERMS AND CONDITIONS. All deposits to, withdrawals from, or other transactions pertaining to your account(s) are subject to the terms and conditions of the agreement you received when you opened your account and any amendments thereto. Amendments to the agreement may be made from time to time in the manner stated therein.
IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS. If you think your statement or receipt is wrong or if you need more information about an electronic transfer (e.g., ATM transactions, direct deposits or withdrawals, point-of-sale transactions) on the statement or receipt, telephone or write us at the address or number listed on the front of this statement as soon you can. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared.
*   Tell us your name and account number
 
*   Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe there is an error or why you need more information
 
*   Tell us the dollar amount of the suspected error.
For consumer accounts used primarily for personal, family or household purposes, we will investigate your complaint and will correct any error promptly. If we take more than 10 business days (20 business days if you are a new customer, for electronic transfers occurring during the first 30 days after the first deposit is made to your account), to do this, we will re-credit your account for the amount you think is in error so that you will have use of the money during the time it takes us to complete our investigation.
For other accounts, we investigate, and if we find we have made an error, we will make the appropriate adjustment to your account at the conclusion of our investigation.
DIRECT DEPOSITS.
If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you may call us at the telephone number listed on the front of this statement to find out if the deposit was made as scheduled.
REPORTING OTHER PROBLEMS.
You must examine your statement carefully and promptly. You are in the best position to discover errors and unauthorized transactions on your account. If you fail to notify us in writing of suspected problems or unauthorized transactions within the time periods specified in the deposit agreement (which periods are no more than 60 days after we make the statement available to you and in some cases are 30 days or less), we are not liable to you for, and you agree not to make a claim against us for the problems or unauthorized transactions.

 

 

 

PFF Real Estate Services, Inc.
Transaction Detail by Account
July 2010
                                                         
Date   Type     Num     Name     Memo/Description     Split     Amount     Balance  
B of A Checking
                                                        
07/02/2010
   General Journal       31                     -SPLIT-     -11.18       -11.18  
07/24/2010
   General Journal     32                     -SPLIT-     -325.00       -336.18  
 
                                                      
Total for B of A Checking
                                             -336.18          
Bank Charges
                                                        
07/02/2010
   General Journal     31                     -SPLIT-     11.18       11.18  
 
                                                      
Total for Bank Charges
                                             11.18          
U S Trustee
                                                        
07/24/2010
   General Journal     32                     -SPLIT-     325.00       325.00  
 
                                                      
Total for U S Trustee
                                             325.00          

 

 

 

Journal Entry   Entry #: 31
Date: 07/02/2010
                 
Account   Debit     Credit  
 
                
Bank Charges
   $ 11.18          
B of A Checking
           $ 11.18  
 
                
Totals
   $ 11.18     $ 11.18  
 
                
Memo: B of A — June
                

 

 

 

 
Journal Entry   Entry #: 32
Date: 07/24/2010
                 
Account   Debit     Credit  
 
                
US Trustee
   $ 325.00          
B of A Checking
           $ 325.00  
 
                
Totals
   $ 325.00     $ 325.00  
 
                
Memo: Q 2 2010
                

 

 

 

PFF Real Estate Services, Inc.
Profit & Loss
July 2010
         
    Total  
Income
        
Total Income
        
Expenses
        
Bank Charges
     11.18  
U S Trustee
     325.00  
 
      
Total Expenses
    $ 336.18  
 
      
Net Operating Income
   -$ 336.18  
 
      
Net Income
   -$ 336.18  
 
      

 

 

 

PFF Real Estate Services, Inc.
Profit & Loss
December 5, 2008 — July 31, 2010
         
    Total  
Income
        
Total Income
        
Expenses
        
Bank Charges
     122.38  
U S Trustee
     2,275.00  
 
      
Total Expenses
    $ 2,397.38  
 
      
Net Operating Income
   -$ 2,397.38  
Other Income
        
Other Income
     0.04  
 
      
Total Other Income
    $ 0.04  
 
      
Net Other Income
    $ 0.04  
 
      
Net Income
   -$ 2,397.34  
 
      

 

 

 

PFF Real Estate Services, Inc.
Balance Sheet
As of July, 2010
         
    Total  
ASSETS
        
Current Assets
        
Bank Accounts
        
B of A Checking
     23,327.66  
PFF Checking
     0.00  
 
      
Total Bank Accounts
   $ 23,327.66  
 
      
Total Current Assets
   $ 23,327.66  
 
      
TOTAL ASSETS
   $ 23,327.66  
 
      
LIABILITIES AND EQUITY
        
Liabilities
        
Total Liabilities
        
Equity
        
APIC — Retained Earnings
     -29,275.00  
Common Stock
     55,000.00  
Opening Balance Equity
     0.00  
Retained Earnings
     -1,384.87  
Net Income
     -1,012.47  
 
      
Total Equity
   $ 23,327.66  
 
      
TOTAL LIABILITIES AND EQUITY
   $ 23,327.66  
 
      

 

 

 

     
In re PFF Real Estate Services, Inc.
  Case No. 08-13130
 
  Reporting Period: 7/1/10 — 7/31/10
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.
                                                 
            Amount                             Ending  
    Beginning     Withheld or     Amount             Check No.     Tax  
Federal   Tax Liability     Accrued     Paid     Date Paid     _____T     Liability  
Withholding
   NONE                                   NONE
FICA-Employee
   NONE                                   NONE
FICA-Employer
   NONE                                   NONE
Unemployment
   NONE                                   NONE
Income
   NONE                                   NONE
Other:
   NONE                                   NONE
Total Federal Taxes
   NONE                                   NONE
State and Local
                                                
Withholding
   NONE                                   NONE
Sales
   NONE                                   NONE
Excise
   NONE                                   NONE
Unemployment
   NONE                                   NONE
Real Property
   NONE                                   NONE
Personal Property
   NONE                                   NONE
Other:
   NONE                                   NONE
Total State and Local
   NONE                                   NONE
Total Taxes
   NONE                                   NONE
SUMMARY OF UNPAID POSTPETITION DEBTS
Attach aged listing of accounts payable.
Number of Days Past Due
                                                 
    Current     0-30     31-60     61-90     Over 90     Total  
Accounts Payable
                                           NONE
Wages Payable
                                           NONE
Taxes Payable
                                           NONE
Rent/Leases-Building
                                           NONE
Rent/Leases-Equipment
                                           NONE
Secured Debt/Adequate Protection Payments
                                           NONE
Professional Fees
                                           NONE
Amounts Due to Insiders*
                                           NONE
Other:                     
                                           NONE
Other:                     
                                           NONE
Total Postpetition Debts
                                           NONE
 
     
*   “Insider” is defined in 11 U.S.C. Section 101(31).

 

 

 

In re PFF Real Estate Services, Inc.
     Debtor
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
         
Accounts Receivable Reconciliation
        
Total Accounts Receivable at the beginning of the reporting period
   NONE
+ Amounts billed during the period
   NONE
- Amounts collected during the period
   NONE
Total Accounts Receivable at the end of the reporting period
   NONE
Accounts Receivable Aging
        
0 - 30 days old
   NONE
31 - 60 days old
   NONE
61 - 90 days old
   NONE
91 + days old
   NONE
Total Accounts Receivable
   NONE
Amount considered uncollectible (Bad Debt)
   NONE
Accounts Receivable (Net)
   NONE
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          
5. Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.
             X  

 

 

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