-----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, Cp34FE4gKx4wXTzXYpL4rxGUDnUro4aXvTWd10RFbR9d+nzylmjYAugEyDafV2YY 3UuRXphmZ6NSf1kxmmAuxg== 0000950169-02-000101.txt : 20020501 0000950169-02-000101.hdr.sgml : 20020501 ACCESSION NUMBER: 0000950169-02-000101 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020426 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020501 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CALIBER LEARNING NETWORK INC CENTRAL INDEX KEY: 0001057187 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200] IRS NUMBER: 522001020 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-23945 FILM NUMBER: 02629107 BUSINESS ADDRESS: STREET 1: 500 SOUTH EXETER STREET CITY: BALTIMORE STATE: MD ZIP: 21202 BUSINESS PHONE: 4108438000 MAIL ADDRESS: STREET 1: 500 SOUTH EXETER STREET CITY: BALTIMORE STATE: MD ZIP: 21202 8-K 1 d8k.txt CLN, INC. CURRENT REPORT 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: April 26, 2002 CLN, INC. (formerly known as Caliber Learning Network, Inc.) ---------------------------------------------------- (Exact Name of Registrant as Specified in Its Charter) Maryland -------------------------------------------- (State or Other Jurisdiction of Incorporation) 000-23945 52-2001020 ---------------------- ------------------------------- (Commission File Number) (IRS Employer Identification No.) 509 South Exeter Street, Suite 400, Baltimore, Maryland 21202 - ------------------------------------------------------- -------- (Address of Principal Executive Offices) (Zip Code) (410) 843-1000 -------------------------------------------------- (Registrant's Telephone Number, Including Area Code) Item 5. Other Events. On April 26, 2002, CLN, Inc. (formerly known as Caliber Learning Network, Inc.) (the "Company"), Debtor-In-Possession in Chapter 11 Case No. 01-5-9533-JS, filed a Monthly Operating Report for the period from March 1, 2002 through March 31, 2002 with the United States Bankruptcy Court for the District of Maryland, Baltimore Division, a copy of which is filed herewith as Exhibit 99.1. Item 7. Financial Statements and Exhibits. Exhibit No. Description 99.1 Chapter 11 Monthly Operating Report for the period from March 1, 2002 through March 31, 2002 filed by CLN, Inc. f/k/a Caliber Learning Network, Inc., Debtor-In-Possession in Chapter 11 Case No. 01-5-9533-JS, with the United States Bankruptcy Court for the District of Maryland, Baltimore Division. * NOTE: The numbers included in this Monthly Operating Report are unaudited and the listed market value represents the book value of the assets. 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 thereunto duly authorized. Date: April 26, 2002 CLN, INC. f/k/a CALIBER LEARNING NETWORK, INC. By: /s/ Glen M. Marder -------------------------------------- Glen M. Marder President and Chief Executive Officer EX-99.1 3 dex991.txt LINE FILING DEBTOR'S MONTHLY OPERATING REPORT Exhibit 99.1 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND (Baltimore Division) In re: * CLN, INC., f/k/a * CALIBER LEARNING NETWORK, INC., Case No. 01-5-9533-JS (Chapter 11) Debtor. * * * * * * * * * * LINE FILING DEBTOR'S MONTHLY OPERATING REPORT --------------------------------------------- CLN, Inc., f/k/a Caliber Learning Network, Inc., Debtor and Debtor-in- Possession herein, hereby files its Monthly Operating Report for the period from March 1 through March 31, 2002. Date: April 26, 2002 /s/ Joel I. Sher ----------------------------------- Joel I. Sher, Bar No. 00719 Richard M. Goldberg, Bar No. 07994 Shapiro Sher & Guinot 36 South Charles Street, 20th Floor Baltimore, Maryland 21201-3147 Phone: (410) 385-0202 Fax: (410) 539-7611 Attorneys for CLN, Inc., f/k/a Caliber Learning Network, Inc. CERTIFICATE OF SERVICE ---------------------- I HEREBY CERTIFY that on this 26th day of April, 2002, a copy of the foregoing was sent, by first-class mail, postage prepaid, to: Edmund A. Goldberg, Esquire Office of the United States Trustee 300 West Pratt Street, Suite 350 Baltimore, MD 21201 /s/ Joel I. Sher ----------------------- Joel I. Sher U.S. Bankruptcy Court Filing Case #01-5-9533-JS
# Monthly Operating Report For the Month ended March 31, 2002 - ----------------------------------------------------------------------------------------------------------------------------------- 1 Accounting Basis: Accrual 2 Preparer(s): Jeffrey D. Berger 509 S. Exeter Street 4th Floor Baltimore, MD 21202 (410) 843-1160 Director of Finance 3 Employee Information: Number of employees paid this period: 2 Current number of employees: 2 Gross payroll: $ 37,528 All post-petition payroll obligations including Exceptions: None payroll taxes are curren ----------------------------- 4 Changes in the nature of business or status of operations No since last reporting period 5 All business licenses or bonds current Yes 6 Pre-petition accounts receivable: Collected this Period $ 4,279 Ending Balance 1,042,402 Amount represents Gross A/R 7 Post-petition accounts receivable: 0 - 30 Days: $ - 31 - 60 Days: $ - Over 60 Days: $ 115,598 Any post-petition accounts receivable over 60 days Yes If yes, provide schedule of accounts and explain: See Schedule on pg. 6 of 7 --------------------------- 8 Post-petition accounts payable: 0 - 30 Days: $ 1,410 31 - 60 Days: $ 429 Over 60 Days: $ 317,055 Any post-petition accounts payable over 30 days Yes If yes, provide schedule of accounts and explain: See Schedule on pg. 7 of 7 --------------------------- 9 Taxes All taxes being paid to the proper taxing authorities when due: Yes Form 6123: 10 Bank accounts: Changed banks: No 11 Books and records kept monthly and are current: Yes 12 Insurance Policy expiration dates: Auto and truck Sep-02 Liability Sep-02 Fire N/A Workers Comp Sep-02 Other N/A 13 Actions of the debtor during the last month: Fail to defend or oppose any action to dispossess control or custody of any assets No Consent to relief from the automatic stay No Maintain resources necessary to preserve and maintain the going concern value of assets Yes 14 Transfer or sale of property Any assets transfer, convey or abandon any of If yes, attach copy of court debtor's assets to another No order: ---------------------------- 15 Payments to secured creditors Yes 16 Payments to Professionals 17 Quarterly U.S. Trustee Fees - Paid Month 7 (January) - Month 8 (February) - Month 9 (March) - ------------ Total -
CLN, Inc. U.S. Bankruptcy Court Filing Case #01-5-9533-JS Monthly Operating Report For the Month ended March 31, 2002 Form # 4 - Tax Statement (Verification of Fiduciary's Federal Tax Deposit) Caliber Learning federal deposits with confirmation # taxcode LB date EFTPS DATE Confirm# AMT - ---------------------------------------------------------------------------- 941 3/15/02 3/19/02 128207903013095 $7,075.21 941 3/29/02 4/02/02 128209303009231 $7,075.21 CLN, Inc. U.S. Bankruptcy Court Filing Case #01-5-9533-JS Monthly Operating Report For the Month ended March 31, 2002 - ------------------------ ---------------------------------- Assets Current Assets %,FACCO CASH $ 247,821 PRE-PETITION RECEIVABLES $ 1,042,402 POST-PETITION RECEIVABLES $ 115,598 ALLOWANCE FOR DOUBTFUL ACCOUNTS $ (719,555) EMPLOYEE LOANS & ADVANCES $ 3,129 %,FACCO PREPAID ASSETS $ 67,215 -------------- %,FACCO Total Current Assets $ 756,610 Plant, Property and Equipment %,FACCO FURNITURE AND EQUIPMENT $ - %,FACCO LEASEHOLD IMPROVEMENTS $ - %,FACCO ACCUMULATED DEPRECIATION $ - -------------- %,FACCO Net Property Plant & Equipment $ - -------------- %,FACCO Other Long Term Assets $ 463,436 -------------- %,FACCO Total Assets $ 1,220,046 ============== Liabilities Post-Petition %,V200000 ACCOUNTS PAYABLE - TRADE $ 317,508 %,V201360 ACCRUED EXPENSES $ 39,162 UNEARNED REVENUE $ - %,V207000 DEFERRED REVENUE $ - -------------- Total Post-Petition Liabilities $ 356,670 Liabilities Subject to Compromise: Pre-Petition Priority Claims ACCRUED COMMISSIONS $ 30,888 -------------- Total Priority Claims $ 30,888 Secured Debts %,V206200 BORROWING FROM SYLVAN $ - %,V201345 ACCRUED INTEREST PAYABLE $ - -------------- Total Secured Debts $ - Unsecured Debts %,V200000 ACCOUNTS PAYABLE - TRADE $ 5,179,689 %,V200200 A/P OTHER $ 36,540 %,V201345 ACCRUED INTEREST PAYABLE $ 268,480 %,V201360 ACCRUED MISCELLANEOUS $ 686,828 %,V206300 DIVIDEND PAYABLE $ 161,220 %,V206200 BORROWING FROM SYLVAN $ 7,314,886 %,V273000 LONG TERM LEASE PAYABLE & TI ALLOWANCE $ 9,271,737 %,V201170 OTHER $ 29,432 -------------- Total Unsecured Debts $ 22,948,812 Stockholders' Equity %,V290000 PREFERRED STOCK $ 32,395,979 %,V292000 COMMON STOCK $ 125,912 %,V294000 APIC - COMMON STOCK $ 83,195,407 %,V296000 GAIN/LOSS ON FOREIGN CURENCY T $ 148 %,V297000 PRE-PETITION RETAINED EARNINGS $(120,124,709) %,V297000 POST-PETITION RETAINED EARNINGS $ (17,709,060) -------------- %,R,FACC Total Owners,Equity (22,116,323.57) -------------- %,R,FACC Total Liabilities and Stockholders Equity $ 1,220,046 ============== Footnote: The Company made no estimate of any impairment of asset value as specified by FASB #121, Accounting for the Impairment of Long-Lived Assets. CLN, Inc. U.S. Bankruptcy Court Filing Case #01-5-9533-JS Monthly Operating Report For the Month ended March 31, 2002 - ------------------------ ----------------------------------- REVENUES - OPERATING EXPENSES SALARIES & BENEFITS 33,134 ACCOUNTING & LEGAL FEES - DATA COMM & TELEPHONE 1,347 BAGBY RENT, PEOPLESOFT, MIS SUPPORT 500 INSURANCE - CORP LIABILITY 23,877 DEPREC. - FURNITURE & FIXTURES - BAD DEBT - OTHER G&A 1,186 --------------- Total Operating Expenses 60,044 --------------- Operating Income (60,044) NON-OPERATING EXPENSES INTEREST INCOME - GAIN/LOSS ON SALE OF ASSETS - INTEREST EXPENSE - --------------- Total Non-Operating Expenses - --------------- Income (Loss) before taxes (60,044) INCOME TAX EXPENSE - ---------------- Net Loss (60,044) ================ CLN, Inc. U.S. Bankruptcy Court Filing Case #01-5-9533-JS Monthly Operating Report For the Month ended March 31, 2002 - ------------------------ ---------------------------------- Description Operating - ------------------------------------------------------------------------------ Beginning cash balance 281,050 Net Income (60,044) Add: Expenses not requiring cash: Depreciation - Additional/(Reversal) Bad Debt Reserve - Loss on sale of assets and change in w/c as a result of sale - Other: - ------------ Sub-total - Cash from operations (60,044) Other sources (uses) of cash: Decrease (Increase) Accounts receivable 4,279 Prepaid assets 23,877 Other - Increase (Decrease) Accounts payable 1,347 Accrued interest - Accrued expenses (2,313) Other (375) ------------ Total other source (uses) of cash 26,815 ------------ Ending cash balance 247,821 ============ Balance per bank statement 272,960 Less: Outstanding checks (29,418) Add: Deposits in transit 4,279 ------------ Reconciled bank balance 247,821 ============ CLN, Inc. U.S. Bankruptcy Court Filing Case #01-5-9533-JS Monthly Operating Report For the Month ended March 31, 2002 Post-petition A/R --------------------------------------------- 0-30 Days 31-60 Days > 60 Days Total --------------------------------------------- AIAG Total - - 1,208.00 1,208.00 Agway Total - - 56.00 56.00 Bell South Total - - 3,000.00 3,000.00 Computrain Total - - 4,950.00 4,950.00 Fluke Total - - 800.00 800.00 Home Properties Total - - 17,923.88 17,923.88 iLearning - - 17,558.46 17,558.46 Prometric Total - - 3,600.00 3,600.00 Spirent - AdTech Total - - 279.00 279.00 Sylvan Learning Systems, Inc. Total - - 57,448.00 57,448.00 Symbol Technologies Total - - 8,750.00 8,750.00 Universita del Caffe Total - - 25.00 25.00 --------------------------------------------- Totals - - 115,598.34 115,598.34 CLN, Inc. U.S. Bankruptcy Court Filing Case #01-5-9533-JS
Monthly Operating Report For the Month ended March 31, 2002 Post-petition A/P -------------------------------------- Vendor Name Invoice Date Invoice # Invoice Amount 0-30 Days 31-60 Days 60 + Days - ------------------------------------------------------------------------------------------------------------------------------------ AMERITECH Total -416.77 - - (416.77) AT&T WIRELESS Total 538.87 - - 538.87 BELL CANADA Total 176.05 - - 176.05 BELLSOUTH Total 988.32 - 214.67 773.65 BRINSON,JEFFREY R. Total 247.50 - - 247.50 CINCINNATI BELL TELEPHONE Total -320.88 - - (320.88) DHL WORLDWIDE EXPRESS Total 338.58 - - 338.58 FIRST UNION Total 2,721.21 - - 2,721.21 FRONTIER COMMUNICATIONS Total -200.90 - - (200.90) FRONTIER TELEMANAGEMENT INC. Total -366.26 - - (366.26) GLOBAL CROSSING Total 0.09 0.09 - - LASER LINE INC Total 241.90 - - 241.90 MCI Total 3,617.99 - - 3,617.99 MCI TELECOMMUNICATIONS Total 6,961.15 - - 6,961.15 MCI WORLDCOM COMMUNICATIONS,INC. Total 89,010.25 - - 89,010.25 PACIFIC BELL - (SAC CA) Total -26.17 - - (26.17) PACIFIC BELL - (VAN NUYS CA) Total 83.66 - - 83.66 PALMETTO SERVICE Total 2,100.00 1,050.00 - 1,050.00 PENTA ADVISORY SERVICES Total 43,685.88 - - 43,685.88 POLAND SPRING Total 34.33 - - 34.33 PR NEWSWIRE, INC. Total 384.25 - - 384.25 QWEST Total 181.85 - - 181.85 SOUTHWESTERN BELL Total 260.06 - - 260.06 SPRINT Total 92.01 - - 92.01 SYLVAN LEARNING SYSTEMS, INC. Total 146,866.59 - - 146,866.59 TELUS COMMUNICATIONS, INC Total 209.10 - - 209.10 UNITED PARCEL SERVICE Total 16.00 - - 16.00 VERIZON (FORMERLY BELL ATLANTIC) Total 4,999.64 308.90 214.33 4,476.41 VERIZON (FORMERLY GTE) Total -257.98 - - (257.98) VERIZON WIRELESS Total 6,007.85 - - 6,007.85 WILLIAMS COMMUNICATIONS SOLUTIONS LLC Total 10,619.70 - - 10,619.70 WORLDCOM Total 100.23 50.68 - 49.55 ---------- -------- ------ ---------- Grand Total 318,894.10 1,409.67 429.00 317,055.43 Per G/L 317,507.77 ---------- Variance 1,386.33 ==========
-----END PRIVACY-ENHANCED MESSAGE-----