-----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, VBEjPnC8J95w91RSPtFONsNrsYVdpCXrpLSPW1RS1u7m0DOEuKEcD2S6/0ukPfZP /uSniAm6v0HMgheBKq4dAw== 0001021408-02-010010.txt : 20020731 0001021408-02-010010.hdr.sgml : 20020731 20020731134854 ACCESSION NUMBER: 0001021408-02-010010 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020729 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020731 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: 02715778 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: July 29, 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 July 29, 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 June 1, 2002 through June 30, 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 June 1, 2002 through June 30, 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: July 30, 2002 CLN, INC. f/k/a CALIBER LEARNING NETWORK, INC. By:/s/ Glen M. Marder --------------------------------------- Glen M. Marder President and Chief Executive Officer -2- EX-99.1 3 dex991.txt CHAPTER 11 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 June 1 through June 30, 2002. Date: July 29, 2002 /s/ Richard M. Goldberg ----------------------------------- 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 29th day of July, 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/ Richard M. Goldberg ------------------------------------ Richard M. Goldberg 2 CLN, Inc. U.S. Bankruptcy Court Filing Case #01-5-9533-JS
Monthly Operating Report For the Month ended June 30, 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: $ 4,572 All post-petition payroll obligations including payroll taxes are current Exceptions: None -------------------------------------------- 4 Changes in the nature of business or status of operations since last reporting period No 5 All business licenses or bonds current Yes 6 Pre-petition accounts receivable: Collected this Period $ 13,407 Ending Balance 905,146 Amount represents Gross A/R 7 Post-petition accounts receivable: 0 - 30 Days: $ - 31 - 60 Days: $ - Over 60 Days: $ 81,910 Any post-petition accounts receivable over 60 days Yes If yes, provide schedule of accounts See --- Schedule on pg. 6 of 7 ---------------------- 8 Post-petition accounts payable: 0 - 30 Days: $ - 31 - 60 Days: $ - Over 60 Days: $ 318,894 Any post-petition accounts payable over 30 days Yes If yes, provide schedule of accounts 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 debtor's assets to another party No If yes, attach copy of court order:___________ 15 Payments to secured creditors Yes 16 Payments to Professionals 17 Quarterly U.S. Trustee Fees - Paid Month 10 (April) 3,750 Month 11 (May) - Month 12 (June) - ------------ Total 3,750
CLN, Inc. U.S. Bankruptcy Court Filing Case #01-5-9533-JS Monthly Operating Report For the Month ended June 30, 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 6/14/02 6/18/02 128217003009254 $307.59 941 6/28/02 7/2/02 128218403008092 $307.59 CLN, Inc. U.S. Bankruptcy Court Filing Case #01-5-9533-JS
Monthly Operating Report For the Month ended June 30, 2002 ---------------- Assets Current Assets CASH $ 272,613 PRE-PETITION RECEIVABLES $ 905,146 POST-PETITION RECEIVABLES $ 81,910 ALLOWANCE FOR DOUBTFUL ACCOUNTS $ (650,299) EMPLOYEE LOANS & ADVANCES $ 3,129 PREPAID ASSETS $ - ---------------- Total Current Assets $ 612,499 Plant, Property and Equipment FURNITURE AND EQUIPMENT $ - LEASEHOLD IMPROVEMENTS $ - ACCUMULATED DEPRECIATION $ - ---------------- Net Property Plant & Equipment $ - ---------------- Other Long Term Assets $ 463,436 ---------------- Total Assets $ 1,075,936 ================ Liabilities Post-Petition ACCOUNTS PAYABLE - TRADE $ 317,656 ACCRUED EXPENSES $ 35,357 UNEARNED REVENUE $ - DEFERRED REVENUE $ - ---------------- Total Post-Petition Liabilities $ 353,013 Liabilities Subject to Compromise: Pre-Petition Priority Claims ACCRUED COMMISSIONS $ 30,888 ---------------- Total Priority Claims $ 30,888 Secured Debts BORROWING FROM SYLVAN $ - ACCRUED INTEREST PAYABLE $ - ---------------- Total Secured Debts $ - Unsecured Debts ACCOUNTS PAYABLE - TRADE $ 5,179,689 A/P OTHER $ 36,540 ACCRUED INTEREST PAYABLE $ 268,480 ACCRUED MISCELLANEOUS $ 686,828 DIVIDEND PAYABLE $ 161,220 BORROWING FROM SYLVAN $ 7,314,828 LONG TERM LEASE PAYABLE & TI ALLOWANCE $ 9,271,737 OTHER $ 29,404 ---------------- Total Unsecured Debts $ 22,948,726 Stockholders' Equity PREFERRED STOCK $ 32,395,979 COMMON STOCK $ 125,912 APIC - COMMON STOCK $ 83,195,407 GAIN/LOSS ON FOREIGN CURENCY T $ 148 PRE-PETITION RETAINED EARNINGS $ (120,124,709) POST-PETITION RETAINED EARNINGS $ (17,849,427) ---------------- Total Owners Equity (22,256,690.57) ---------------- Total Liabilities and Stockholders Equity $ 1,075,936 ================
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. 1 of 1 CLN, Inc. U.S. Bankruptcy Court Filing Case #01-5-9533-JS Monthly Operating Report For the Month ended June 30, 2002 --------------- REVENUES - OPERATING EXPENSES SALARIES & BENEFITS 4,572 ACCOUNTING & LEGAL FEES - DATA COMM & TELEPHONE - BAGBY RENT, PEOPLESOFT, MIS SUPPORT - INSURANCE - CORP LIABILITY 12,819 DEPREC. - FURNITURE & FIXTURES - BAD DEBT - OTHER G&A 1,040 --------------- Total Operating Expenses 18,431 --------------- Operating Income (18,431) NON-OPERATING EXPENSES INTEREST INCOME - GAIN/LOSS ON SALE OF ASSETS - INTEREST EXPENSE - --------------- Total Non-Operating Expenses - --------------- Income (Loss) before taxes (18,431) INCOME TAX EXPENSE - --------------- Net Loss (18,431) =============== CLN, Inc. U.S. Bankruptcy Court Filing Case #01-5-9533-J5 Monthly Operating Report For the Month ended June 30, 2002 Description Operating - -------------------------------------------------------------------------------- Beginning cash balance 258,715 Net Income (18,431) 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 (18,431) Other sources (uses) of cash: Decrease (Increase) Accounts receivable 13,407 Prepaid assets 19,460 Other - Increase (Decrease) Accounts payable - Accrued interest - Accrued expenses (451) Other (88) --------------- Total other source (uses) of cash 32,328 --------------- Ending cash balance 272,613 =============== Balance per bank statement 288,432 Less: Outstanding checks (20,682) Add: Deposits in transit 4,863 --------------- Reconciled bank balance 272,613 =============== 1 of 1 CLN, Inc. U.S. Bankruptcy Court Filing Case #01-5-9533-JS Monthly Operating Report For the Month ended June 30, 2002
-------------------------------------------------- Post-petition A/R -------------------------------------------------- ----------- 0 - 30 Days 31 - 60 Days ** 60 Days Total -------------------------------------------------- Bell South Total - - 3,000.00 3,000.00 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 Universita del Caffe Total - - 25.00 25.00 --------------------------------------------------- Totals - - 81,910.46 81,910.46
** Denote greater than CLN, Inc. U.S. Bankruptcy Court Filing Case #01-5-9533-JS --------------- Monthly Operating Report For the Month ended June 30, 2002 05/31/02 ---------------
---------------------------------- Post-petition A/P ---------------------------------- # of Days Vendor Name Invoice Date Invoice # Invoice Amount Outstanding 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 - - 988.32 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 - - 2,100.00 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 - - 4,999.64 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 - - 100.23 --------------------------------------------------------------- Grand Total 318,894.10 - - 318,894.10
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