EX-99 2 ex991.htm EXHIBIT 99.1 Converted by EDGARwiz





Exhibit 99.1










February 10, 2005




Karl Kroger

Bankruptcy Analyst

U.S. Trustee’s Office

170 North High Street

Suite 200

Columbus, OH  43215-2403


Dear Karl:


Enclosed is our monthly operating report for the month of December.  As required, we are submitting the information by filing entity.  Additionally, I have attached a consolidated P&L and balance sheet for your use.


Note:  Financial statements are preliminary, un-audited and do not include year end valuations for our goodwill, intangibles, pension plan, SERP and the tax provisions.


Sincerely,




Steven D. Lipton

Vice President-Controller

Huffy Corporation

Case No. 04-39148


cc:  (with attachments)

        Mary Johnson, Creditors Committee Chair

        Sean Malloy, Creditors Committee Counsel


cc:  (without attachments)

        Jay Muskovich

        Bob Lafferty

        Nancy Michaud

        Kim Martin-Lewis

        Pat O’Malley











HUFFY CONSOLIDATED

   

For Period ending Dec. 31, 2004

   
         

($000)

 

Total

 

Since

    
  

Month1

 

Filing1

    

Net Sales2

      8,699

 

    40,004

    

Total Cost of Sales

      8,481

 

    35,761

    

Adjusted Gross Profit2

        218

 

     4,243

    

     % Net Sales

2.5%

 

10.6%

    

Total Selling Expenses3

       (123)

 

     1,563

    

     % Net Sales

-1.4%

 

3.9%

    

Other Product Line Expenses

        507

 

     1,731

    

     % Net Sales

5.8%

 

4.3%

    

Corporate Expenses, Net

        932

 

     2,483

    

Total Operating Expenses

      1,316

 

     5,777

    

     % Net Sales

15.1%

 

14.4%

    

Operating Income

     (1,098)

 

    (1,534)

    

     % Net Sales

-12.6%

 

-3.8%

    

Other (Income)/Expense

        375

 

        109

    

EBIT Excl. Restructuring

     (1,473)

 

    (1,643)

    

     % Net Sales

-16.9%

 

-4.1%

    

Restructuring & Other Expense4

     (2,340)

 

        802

    

Interest Expense

        367

 

     1,895

    

Pre-Tax Income From Contin. Ops.

        500

 

    (4,340)

    

Loss/(Gain) on Discontinued Ops.

        700

 

     2,151

    

Pre-Tax Income  

       (200)

 

    (6,491)

    

Provision for Taxes

             -

 

     1,329

    

Net Earnings

       (200)

 

    (7,820)

    
         

1Unaudited results above do not include year end valuations for goodwill,

     

intangibles, pension plan, SERP, and tax provision

     
                

2December adjusted Gross Profit is reduced by approximately $1.2 million related to customer

chargeback's and deductions due to company’s inability to deliver goods per purchase

order terms, as a result of 4th quarter supply chain disruptions.

  
                

3  Total Selling Expenses includes reduction in bad debt reserve of $1.1 million reflecting current

assessment of account receivable.

   
                

4December Restructuring and Other Expense  includes $2.7 million reduction, reversing accrued

employee severance  and retention costs based on the revised plans approved by the court.

   
                












Huffy Corporation Consolidated

      

Balance Sheet

Current

 

Prior

 

At

 

Period Ending: December 31, 2004

Month

 

Month

 

Filing

 
       
       

Total Cash

$410

 

$476

 

$2,638

 
       

Net Receivables

$27,926

 

$42,229

 

$33,453

 
       

Net Inventory

$27,673

 

$28,437

 

$21,730

(A)

       

Total Prepaids

$7,489

 

$7,564

 

$8,497

 
       

Net PP & E

$1,552

 

$3,612

 

$3,943

 
       

Goodwill-net of Amortization

$21,485

 

$21,485

 

$21,485

 
       

Other Assets

$25,223

 

$25,365

 

$28,258

 
       

Total Assets

$111,758

 

$129,168

 

$120,004

 
       

Liabilities & Equity

      
       

Post Petition Liabilities

      

Accounts Payable

$19,590

 

$22,507

 

$0

(A)

Wages & Salaries/Commissions

$482

 

$568

 

$0

 

Total Post Petition Liabilities

$20,072

 

$23,075

 

$0

 
       

Bank Debt

$15,717

 

$23,212

 

$31,342

 
       

Prepetition Liabilities

      

Accounts Payable

$66,247

 

$66,815

 

$66,858

(A)(C)

Other Current Liabilities

$767

 

$987

 

$832

 

Accrued Liabilities

$19,196

 

$25,185

 

$23,419

 

Mortgage/Notes & Capital Leases

$684

 

$630

 

$661

 

Salaried Pension

$24,980

 

$24,660

 

$24,176

 

Long Term Liabilities

$22,041

 

$22,350

 

$22,842

(B)

Intercompany Accounts

$0

 

$0

 

$0

 
       

Liabilities Subject to Compromise

$133,915

 

$140,627

 

$138,788

 
       

Total Liabilities

$169,704

 

$186,914

 

$170,130

 
       

Shareholder's Equity

      

Owners Capital

$35,907

 

$35,907

 

$35,907

 

Pre Petition Retained Earnings

($86,033)

 

($86,033)

 

($86,033)

(B)

Post Petition Retained Earnings

($7,820)

 

($7,620)

 

$0

 

Total Shareholder's Equity

($57,946)

 

($57,746)

 

($50,126)

 
       

Total Liabilities & Equity

$111,758

 

$129,168

 

$120,004

 
       

Variance

$0

 

$0

 

$0

 










Footnotes

         

A)- Accounts Payable and Inventory have each been updated to reflect correct Pre vs. Post split of received

not vouchered of $9.269 Million.  This correction has been carried through and adjusted in subsequent periods.

   
          

B)-The initial (mid-month) financial statements for the date of filing overstated Pre-Petition Retained Earnings

by $9.445 Million and understated Long Term Liabilities by a like amount, as a result of the misclassification

of an inter-company loan between the Corporate and Huffy Risk Management balance sheets.  The

financial statements at the date of filing now reflect the correction, which has been carried through and

adjusted in subsequent reporting periods to correctly reflect these accounts at December, 2004.

          

C)- Pre-Petition Accounts Payable has been adjusted downward in recognition of payables supported by

letters of credit from K-Mart Australia.













TRANSMITTAL OF FINANCIAL REPORTS AND

CERTIFICATION OF COMPLIANCE WITH

UNITED STATES TRUSTEE OPERATING REQUIREMENTS FOR

THE PERIOD ENDED:  DECEMBER 31, 2004

            

IN RE:

      

:

CASE NO:  04-39148

  
       

:

Chapter 11

   
       

:

Judge:  Lawrence S. Walter

       

:

    

HUFFY CORPORATION 

 

       
 

     Debtor

          
            

As debtor in possession, I affirm:

        
            

1.

That I have reviewed the financial statements attached hereto, consisting of:

  
 

 

Operating Statement

(Form 2)

   
 

 

Balance Sheet

(Form 3)

   
 

 

Summary of Operations

(Form 4)

   
 

 

Monthly Cash Statement

(Form 5)

   
 

 

Cash Report

(Form 5A)

   
 

 

Statement of Compensation

(Form 6)

   
 

 

Schedule of In-Force Insurance

(Form 7)

   

and that they have been prepared in accordance with normal and customary accounting

 

practices, and fairly and accurately reflect the debtor's financial activity for the period stated;

2.

That the insurance, including workers' compensation and unemployment insurance,

as described in Section 4 of the Reporting Requirements For Chapter 11 Cases is in effect; and,

(If not, attach a written explanation)

 

YES  √

  

NO

   

3.

That all postpetition taxes as described in Sections 1 and 14 of the Operating

 

Instructions and Reporting Requirements For Chapter 11 cases are current.

   

(If not, attach a written explanation)

 

YES  √

  

NO

   

4.

No professional fees (attorney, accountant, etc.) have been paid without specific

court authorization.

          

(If not, attach a written explanation)

 

YES  √

  

NO

   

5.

All United States Trustee Quarterly fees have been paid and are current.

  

6.

Have you filed your prepetition tax returns.

      

(If not, attach a written explanation)

 

YES  √

  

NO

   
            

I hereby certify, under penalty of perjury, that the information provided above and in the attached

documents is true and correct to the best of my information and belief.

   
            
 

Dated:  1/27/05

 

/s/ Robert W. Lafferty

 

  
     

(Debtor in Possession)

   
            
     

Senior V.P.-Finance, CFO & Treasurer

  
     

Title

   
            
     

(937) 865-5407

    
     

Phone

      
           

FORM 1










Huffy Bike and Huffy Corporate

   

OPERATING STATEMENT

   

PERIOD ENDING: DECEMBER 31, 2004

   
 

Case No: 04-39148

    

 

   

($000)

Totals

 

Totals

 

Current Month

 

Since Filing

Gross Sales

           9,662

 

        41,412

Net Sales

           8,256

 

       37,931

Adjusted Gross Profit

              (49)

 

         3,695

     % Net Sales

-0.6%

 

9.7%

Total Selling Expenses

              410

 

         1,435

     % Net Sales

5.0%

 

3.8%

Other Product Line Expenses

              401

 

         1,391

     % Net Sales

4.9%

 

3.7%

Corporate Expenses, Net

              932

 

         2,483

Total Operating Expenses

             1,743

 

           5,309

     % Net Sales

21.1%

 

14.0%

Operating Income

          (1,792)

 

        (1,614)

     % Net Sales

-21.7%

 

-4.3%

Other (Income)/Expense

                  36

 

                59

EBIT Excl. Restructuring

         (1,828)

 

       (1,673)

     % Net Sales

-22.1%

 

-4.4%

Restructuring & Other Expense

         (2,340)

 

          802

Interest Expense

              297

 

        1,825

Pre-Tax Income From Contin. Ops

             215

 

       (4,300)

Loss/(Gain) on Discontinued OPS

         (2,521)

 

       (2,782)

Pre-Tax

         2,736

 

       (1,518)

Provision for Taxes

0

 

-3800

Net Earnings

          2,736

 

        2,282

FORM 2











Huffy Bike and Huffy Corporate

     

Balance Sheet

Current

 

Prior

 

At

Period Ending: December 31, 2004

Month

 

Month

 

Filing

      
      

Total Cash

$158

 

$306

 

$1,563

      

Net Receivables

$24,343

 

$36,254

 

$24,479

      

Net Inventory

$18,968

 

$17,796

 

$9,097

      

Total Prepaids

$6,873

 

$7,255

 

$8,180

      

Net PP & E

$1,531

 

$2,905

 

$3,028

      

Goodwill-net of Amortization

$5,620

 

$5,620

 

$5,620

      

Other Assets

$4,561

 

$4,657

 

$2,277

      

Total Assets

$62,054

 

$74,793

 

$54,244

      

Liabilities & Equity

     
      

Post Petition Liabilities

     

Accounts Payable

$19,008

 

$22,571

 

$0

Wages & Salaries/Commissions

$439

 

$568

 

$0

Total Post Petition Liabilities

$19,447

 

$23,139

 

$0

      

Bank Debt

$9,834

 

$12,309

 

$17,931

      

Prepetition Liabilities

     

Accounts Payable

$54,787

 

$54,791

 

$55,477

Other Current Liabilities

$274

 

$605

 

$450

Accrued Liabilities

$17,718

 

$22,593

 

$20,515

Mortgage/Notes & Capital Leases

$92

 

$108

 

$139

Salaried Pension

$24,980

 

$24,660

 

$24,176

Long Term Liabilities

$22,041

 

$22,350

 

$22,842

Intercompany Accounts with Entities

($79,783)

 

($75,690)

 

($77,668)

      

Liabilities Subject to Compromise

$40,109

 

$49,417

 

$45,931

      

Total Liabilities

$69,390

 

$84,865

 

$63,862

      

Shareholder's Equity

     

Owners Capital

($4,789)

 

($4,789)

 

($4,789)

Pre Petition Retained Earnings

($4,829)

 

($4,829)

 

($4,829)

Post Petition Retained Earnings

$2,282

 

($454)

 

$0

Total Shareholder's Equity

($7,336)

 

($10,072)

 

($9,618)

      

Total Liabilities & Equity

$62,054

 

$74,793

 

$54,244

      

Variance

$0

 

$0

 

$0












Footnotes

          

A)- Accounts Payable and Inventory have each been updated to reflect correct Pre vs. Post split of received

not vouchered of $9.269 Million.  This correction has been carried through and adjusted in subsequent periods.

 
    
           

B)-The initial (mid-month) financial statements for the date of filing overstated Pre-Petition Retained Earnings

by $9.445 Million and understated Long Term Liabilities by a like amount, as a result of the misclassification

of an inter-company loan between the Corporate and Huffy Risk Management balance sheets.  The

financial statements at the date of filing now reflect the correction, which has been carried through and

 

adjusted in subsequent reporting periods to correctly reflect these accounts at December, 2004.

 
           

C)- Pre-Petition Accounts Payable has been adjusted downward in recognition of payables supported by

letters of credit from K-Mart Australia.

 


FORM 3











  

HUFFY CORPORATION

   
  

SUMMARY OF OPERATIONS

   
  

Period Ended: December 31, 2004

Case No: 04-39148

          
 

Schedule of Postpetition Taxes Payable

   
          
 

Beginning

 

Accrued/

 

Payments/

 

Ending

  

( $ in 000)

Balance

 

Withheld

 

Deposits

 

Balance

  
          

Income Taxes Withheld:

         

Federal:

$0

 

$0

 

$0

 

$0

  

State:

 

 

 

 

 

 

$0

  

Local:

 

 

 

 

 

 

$0

  
          

FICA Withheld:

 

 

 

 

 

 

$0

  
          

Employers FICA:

$0

 

$0

 

$0

 

$0

  
          

Unemployment Tax:

         

Federal:

$0

 

$0

 

 

 

$0

  

State:

$0

 

$0

 

 

 

$0

  
          

Sales, Use & Excise

         

Taxes:

$0

 

$0

 

 

 

$0

  
          

Property Taxes:

$0

 

$0

 

 

 

$0

  
          

Real Estate Taxes

$0

 

$0

 

 

 

$0

  
          

TOTALS:

$0

 

$0

 

$0

 

$0

  
          
 

AGING OF ACCOUNTS RECEIVABLE

   
 

AND POSTPETITION ACCOUNTS PAYABLE

   
          

Age in Days

0-30

 

30-60

 

Over 60

    

Post Petition

         

Accounts Payable

19,008

 

--

 

--

    
          

Accounts Receivable

25,810

 

809

 

1,341

    
          

For all postpetition accounts payable over 30 days old, please attach a sheet listing each such  

 

account to whom the account is owed, the date the account was opened, and the reason for

 

non-payment of the account.

 
          

Describe events or factors occurring during this reporting period materially affecting operations

and formulation of a Plan of Reorganization.

 
        
          

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 FORM 4

 

 











CASE NAME:  

Huffy


CASE NUMBER:

04-39148


MONTH & YEAR:

December-04



TOTAL CASH FLOW

           Description

Beginning

Balance


Receipts


Disbursements

Net Cash

Flow

Ending

Balance

      

Corporate Office

$540,250

$3,527,235

($3,712,731)

($185,496)

$354,754

Huffy Bicycle Company

($234,563)

$44,868,696

($44,831,142)

$37,554

($197,009)

Total Cash Flow

$305,687

$48,395,931

($48,543,873)

($147,942)

$157,745


FORM 5










MONTHLY STATEMENT OF INSIDER COMPENSATION/PAYMENTS

Period Ending:  December 2004

Case No:  04-39148


The following information is to be provided for each shareholder, officer, director, manager, insider, or owner that is employed by the debtor in possession.

Attach additional pages if necessary.


Name:

Don R. Graber

Capacity:

                 Shareholder

   

                 Officer

   

       X        Director

   

                 Insider


Detailed Description of Duties:

Serves as a Director of Huffy Corporation.


Current Compensation Paid:

Weekly

or

Monthly

     
     
     

Current Benefits Paid:

Weekly

or

Monthly

 

Health Insurance

  

$   602.35

 

Life Insurance

  

1.20

 

Retirement

  

2,861.46

 

Company Vehicle

   
 

Entertainment

   
 

Travel (Reimbursed)

   
 

Other Benefits (Dental, AD&D)

  

10.04

 

Total Benefits

  

$ 3,475.05

     

Current Other Payment Paid:

Weekly

or

Monthly

 

Rent Paid

   
 

Loans

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Total Other Payments

   
     

CURRENT TOTAL OF ALL PAYMENTS:

Weekly

or

Monthly

    

$3,475.05

     

Dated:  

                     

  

Principal, Officer, Director, or Insider


xviii.

FORM 6










MONTHLY STATEMENT OF INSIDER COMPENSATION/PAYMENTS

Period Ending:  December 2004

Case No:  04-39148


The following information is to be provided for each shareholder, officer, director, manager, insider, or owner that is employed by the debtor in possession.

Attach additional pages if necessary.


Name:

W. Anthony Huffman

Capacity:

                  Shareholder

   

                  Officer

   

        X        Director

   

                  Insider


Detailed Description of Duties:

Serves as Director of Huffy Corporation.

Serves on Nominating and Governance Committee.


Current Compensation Paid:

Weekly

or

Monthly

     
     
     

Current Benefits Paid:

Weekly

or

Monthly

 

Health Insurance

  

$   602.35

 

Life Insurance

  

1.20

 

Retirement

  

2,936.75

 

Company Vehicle

   
 

Entertainment

   
 

Travel (Reimbursed)

   
 

Other Benefits (Dental, AD&D)

   
 

Total Benefits

  

$ 3,540.30

     

Current Other Payment Paid:

Weekly

or

Monthly

 

Rent Paid

   
 

Loans

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Total Other Payments

   
     

CURRENT TOTAL OF ALL PAYMENTS:

Weekly

or

Monthly

    

$3,540.30

     

Dated:  

                     

  
  

Principal, Officer, Director, or Insider


xviii.

FORM 6










MONTHLY STATEMENT OF INSIDER COMPENSATION/PAYMENTS

Period Ending:  December 2004

Case No:  04-39148


The following information is to be provided for each shareholder, officer, director, manager, insider, or owner that is employed by the debtor in possession.

Attach additional pages if necessary.


Name:

Donald K. Miller

Capacity:

                  Shareholder

   

                  Officer

   

        X        Director

   

                  Insider

  


Detailed Description of Duties:

Serves as a Director of Huffy Corporation.

 

Serves on Audit Committee.


Current Compensation Paid:

Weekly

or

Monthly

     
     
     

Current Benefits Paid:

Weekly

or

Monthly

 

Health Insurance

   
 

Life Insurance

  

1.20

 

Retirement

   
 

Company Vehicle

   
 

Entertainment

   
 

Travel (Reimbursed)

   
 

Other Benefits (Dental, AD&D)

  

0.30

 

Total Benefits

  

$   1.50

     

Current Other Payment Paid:

Weekly

or

Monthly

 

Rent Paid

   
 

Loans

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Total Other Payments

   
     

CURRENT TOTAL OF ALL PAYMENTS:

Weekly

or

Monthly

    

$    1.50

     

Dated:  

                     

  
  

Principal, Officer, Director, or Insider


xviii.

FORM 6










MONTHLY STATEMENT OF INSIDER COMPENSATION/PAYMENTS

Period Ending:  December 2004

Case No:  04-39148


The following information is to be provided for each shareholder, officer, director, manager, insider, or owner that is employed by the debtor in possession.

Attach additional pages if necessary.


Name:

James F. Robeson

Capacity:

                  Shareholder

   

                  Officer

   

        X        Director

   

                  Insider


Detailed Description of Duties:

Serves as Director of Huffy Corporation.

 

Serves on Audit Committee (Chairman) and Compensation Committee.


Current Compensation Paid:

Weekly

or

Monthly

     
     
     

Current Benefits Paid:

Weekly

or

Monthly

 

Health Insurance

   
 

Life Insurance

  

1.20

 

Retirement

   
 

Company Vehicle

   
 

Entertainment

   
 

Travel (Reimbursed)

   
 

Other Benefits (Dental, AD&D)

  

0.30

 

Total Benefits

  

$   1.50

     

Current Other Payment Paid:

Weekly

or

Monthly

 

Rent Paid

   
 

Loans

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Total Other Payments

   
     

CURRENT TOTAL OF ALL PAYMENTS:

Weekly

or

Monthly

    

$   1.50

     

Dated:  

                     

  

Principal, Officer, Director, or Insider


xviii.

FORM 6










MONTHLY STATEMENT OF INSIDER COMPENSATION/PAYMENTS

Period Ending:  December 2004

Case No:  04-39148


The following information is to be provided for each shareholder, officer, director, manager, insider, or owner that is employed by the debtor in possession.

Attach additional pages if necessary.


Name:

Thomas C. Sullivan

Capacity:

                  Shareholder

   

                  Officer

   

        X        Director

   

                  Insider


Detailed Description of Duties:

Serves as Chairman of Huffy Corporation.

 

Serves on Compensation Committee (Chairman).


     
     

Current Benefits Paid:

Weekly

or

Monthly

 

Health Insurance

   
 

Life Insurance

  

1.20

 

Retirement

   
 

Company Vehicle

   
 

Entertainment

   
 

Travel (Reimbursed)

   
 

Other Benefits (Dental, AD&D)

  

0.30

 

Total Benefits

  

$   1.50

     

Current Other Payment Paid:

Weekly

or

Monthly

 

Rent Paid

   
 

Loans

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Total Other Payments

   
     

CURRENT TOTAL OF ALL PAYMENTS:

Weekly

or

Monthly

    

$   1.50

     

Dated:  

                     

  
  

Principal, Officer, Director, or Insider


xviii.

FORM 6










MONTHLY STATEMENT OF INSIDER COMPENSATION/PAYMENTS

Period Ending:  December 2004

Case No:  04-39148


The following information is to be provided for each shareholder, officer, director, manager, insider, or owner that is employed by the debtor in possession.

Attach additional pages if necessary.


Name:

Joseph P. Viviano

Capacity:

                  Shareholder

   

                  Officer

   

        X        Director

   

                  Insider


Detailed Description of Duties:

Serves as Director of Huffy Corporation.

 

Serves on Compensation Committee and Nominating and Governance Committee (Chairman).


Current Compensation Paid:

Weekly

or

Monthly

     
     
     

Current Benefits Paid:

Weekly

or

Monthly

 

Health Insurance

   
 

Life Insurance

  

1.20

 

Retirement

   
 

Company Vehicle

   
 

Entertainment

   
 

Travel (Reimbursed)

  

382.59

 

Other Benefits (Dental, AD&D)

  

0.30

 

Total Benefits

  

$   1.50

     

Current Other Payment Paid:

Weekly

or

Monthly

 

Rent Paid

   
 

Loans

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Total Other Payments

   
     

CURRENT TOTAL OF ALL PAYMENTS:

Weekly

or

Monthly

    

$   384.09

     

Dated:  

                     

  
  

Principal, Officer, Director, or Insider


xviii.

FORM 6










MONTHLY STATEMENT OF INSIDER COMPENSATION/PAYMENTS

Period Ending:  December 2004

Case No:  04-39148


The following information is to be provided for each shareholder, officer, director, manager, insider, or owner that is employed by the debtor in possession.

Attach additional pages if necessary.


Name:

Gerald B. Wasserman

Capacity:

                  Shareholder

   

                  Officer

   

       X         Director

   

                  Insider


Detailed Description of Duties:

Serves as Director of Huffy Corporation.

 

Serves on Audit Committee and Nominating and Governance Committee.


Current Compensation Paid:

Weekly

or

Monthly

     
     
     

Current Benefits Paid:

Weekly

or

Monthly

 

Health Insurance

   
 

Life Insurance

  

1.20

 

Retirement

   
 

Company Vehicle

   
 

Entertainment

   
 

Travel (Reimbursed)

   
 

Other Benefits (Dental, AD&D)

  

0.30

 

Total Benefits

  

$ 1.50

     

Current Other Payment Paid:

Weekly

or

Monthly

 

Rent Paid

   
 

Loans

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Total Other Payments

   
     

CURRENT TOTAL OF ALL PAYMENTS:

Weekly

or

Monthly

    

$ 1.50

     

Dated:  

                     

  
  

Principal, Officer, Director, or Insider


xviii.

FORM 6










MONTHLY STATEMENT OF INSIDER COMPENSATION/PAYMENTS

Period Ending:  December 2004

Case No:  04-39148


The following information is to be provided for each shareholder, officer, director, manager, insider, or owner that is employed by the debtor in possession.

Attach additional pages if necessary.


Name:

Nancy A. Michaud

Capacity:

                  Shareholder

   

       X        Officer

   

                  Director

   

                  Insider


Detailed Description of Duties:

Senior Vice President - General Counsel and Secretary - responsible for and manages all legal aspects of the Debtor’s business.  Serves as Corporate Secretary.


Current Compensation Paid:

Weekly

or

Monthly

     
    

$19,923.08

     

Current Benefits Paid:

Weekly

or

Monthly

 

Health Insurance

  

$   651.00

 

Life Insurance

  

6.00

 

Retirement

   
 

Company Vehicle

  

800.00

 

Entertainment

   
 

Travel (Reimbursed)

  

637.76

 

Other Benefits (Dental, AD&D, LTD)

  

89.74

 

Total Benefits

  

$ 2,184.58

     

Current Other Payment Paid:

Weekly

or

Monthly

 

Rent Paid

   
 

Loans

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Total Other Payments

   
     

CURRENT TOTAL OF ALL PAYMENTS:

Weekly

or

Monthly

    

$22,107.58

     

Dated:  

                     

  
  

Principal, Officer, Director, or Insider


xviii.

FORM 6










MONTHLY STATEMENT OF INSIDER COMPENSATION/PAYMENTS

Period Ending:  December 2004

Case No:  04-39148


The following information is to be provided for each shareholder, officer, director, manager, insider, or owner that is employed by the debtor in possession.

Attach additional pages if necessary.


Name:

John A. Muskovich

Capacity:

                  Shareholder

   

        X        Officer

   

                  Director

   

                  Insider


Detailed Description of Duties:

Chief Executive Officer - responsible for overall management and supervision, strategic planning and development of Debtor’s business.


Current Compensation Paid:

Weekly

or

Monthly

     
    

$30,461.54

     

Current Benefits Paid:

Weekly

or

Monthly

 

Health Insurance

  

$   651.00

 

Life Insurance

  

6.00

 

Retirement

   
 

Company Vehicle

  

1,000.00

 

Entertainment

   
 

Travel (Reimbursed)

  

2,060.95

 

Other Benefits (Dental, AD&D, LTD)

  

133.61

 

Total Benefits

  

$ 3,851.56

     

Current Other Payment Paid:

Weekly

or

Monthly

 

Rent Paid

   
 

Loans

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Total Other Payments

   
     

CURRENT TOTAL OF ALL PAYMENTS:

Weekly

or

Monthly

    

$34,313.10

     

Dated:  

                     

  
  

Principal, Officer, Director, or Insider


xviii.

FORM 6










MONTHLY STATEMENT OF INSIDER COMPENSATION/PAYMENTS

Period Ending:  December 2004

Case No:  04-39148


The following information is to be provided for each shareholder, officer, director, manager, insider, or owner that is employed by the debtor in possession.

Attach additional pages if necessary.


Name:

Robert W. Lafferty

Capacity:

                  Shareholder

   

        X        Officer

   

                  Director

   

                  Insider


Detailed Description of Duties:

Senior Vice President Finance, Chief Financial Officer and Treasurer - responsible for all finance and treasury functions of the Debtors’ business.


Current Compensation Paid:

Weekly

or

Monthly

     
    

$23,230.78

     

Current Benefits Paid:

Weekly

or

Monthly

 

Health Insurance

  

$   651.00

 

Life Insurance

  

6.00

 

Company Vehicle

  

800.00

 

Entertainment

   
 

Travel (Reimbursed)

  

1,586.16

 

Other Benefits (Dental, AD&D, LTD)

  

107.45

 

Total Benefits

  

$ 3,150.61

     

Current Other Payment Paid:

Weekly

or

Monthly

 

Rent Paid

   
 

Loans

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Total Other Payments

  

$             0

     

CURRENT TOTAL OF ALL PAYMENTS:

Weekly

or

Monthly

    

$26,381.39

     

Dated:  

                     

  
  

Principal, Officer, Director, or Insider


xviii.

FORM 6










MONTHLY STATEMENT OF INSIDER COMPENSATION/PAYMENTS

Period Ending:  December 2004

Case No:  04-39148


The following information is to be provided for each shareholder, officer, director, manager, insider, or owner that is employed by the debtor in possession.

Attach additional pages if necessary.


Name:

Robert A. Stead

Capacity:

                  Shareholder

   

        X        Officer

   

                  Director

   

                  Insider


Detailed Description of Duties:

Senior Vice President - Human Resources - responsible for human resource function of the Debtor’s business.


Current Compensation Paid:

Weekly

or

Monthly

     
    

$13,846.16

     

Current Benefits Paid:

Weekly

or

Monthly

 

Health Insurance

  

$   840.00

 

Life Insurance

  

6.00

 

Company Vehicle

  

800.00

 

Entertainment

   
 

Travel (Reimbursed)

  

81.22

 

Other Benefits (Dental, AD&D, LTD)

  

86.34

 

Total Benefits

  

$ 1,813.56

     

Current Other Payment Paid:

Weekly

or

Monthly

 

Rent Paid

   
 

Loans

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Other (Describe)

   
 

Total Other Payments

   
     

CURRENT TOTAL OF ALL PAYMENTS:

Weekly

or

Monthly

    

$15,659.72

     

Dated:  

                     

  
  

Principal, Officer, Director, or Insider


xviii.

FORM 6











SCHEDULE OF IN-FORCE INSURANCE

Period Ending: DECEMBER 31, 2004


Case No. 04-39148


INSURANCE TYPE

 

CARRIER

 

EXPIRATION DATE

Workers’ Compensation

 

Commerce and Industry Ins. Co

 

7/1/05

General Business Policy

 

Lexington Ins. Co.

 

7/1/05

Directors & Officers Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Excess Directors & Officers Liability

 

Zurich Ins. Co.

 

1/5/05

Excess Directors & Officers Liability

 

National Union Fire Ins. Co.

 

1/1/05

Outside Directors Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Fiduciary Liability & Crime

 

Federal Ins. Co. (Chubb)

 

1/1/05

Employed Lawyers

 

Executive Risk Indemnity (Chubb)

 

1/1/05

Cargo & War

 

Fireman’s Fund Ins. Co.

 

7/1/05

General Liability

 

Lexington Ins. Co.

 

7/1/05

Automobile Liability

 

Progressive Preferred Ins. Co.

 

7/1/05

Worker’s Compensation (CA)

 

Commerce & Industry Ins. Co.

 

7/1/05

Excess Worker’s Compensation

 

Employers Reinsurance Corporation

 

7/1/05

Umbrella Liability

 

National Union fire Ins. Co. (AIG)

 

7/1/05

Property

 

American Guaranty & Liability

 

7/1/05

Excess California Earthquake

 

Clarendon/Empire/Glencoe

 

7/1/05

International Liability

 

ACE American Ins. Co.

 

7/1/05

Kidnap/Ransom

 

Federal Ins. Co. (Chubb)

 

8/15/05

Non-Owned Aircraft Liability

 

XL Specialty Ins. Co.

 

7/1/05

Pollution Legal Liability

 

American International Specialty Lines

 

1/6/10


xix.


FORM 7











TRANSMITTAL OF FINANCIAL REPORTS AND

CERTIFICATION OF COMPLIANCE WITH

UNITED STATES TRUSTEE OPERATING REQUIREMENTS FOR

THE PERIOD ENDED:  DECEMBER 31, 2004

            

IN RE:

      

:

CASE NO:  04-39149

  
       

:

Chapter 11

   
       

:

Judge:  Lawrence S. Walter

       

:

    

HUFFY RISK MANAGEMENT 

 

       
 

     Debtor

          
            

As debtor in possession, I affirm:

        
            

1.

That I have reviewed the financial statements attached hereto, consisting of:

  
 

 

Operating Statement

(Form 2)

   
 

 

Balance Sheet

(Form 3)

   
 

N/A

 

Summary of Operations

(Form 4)

   
 

N/A

 

Monthly Cash Statement

(Form 5)

   
 

N/A

 

Cash Report

(Form 5A)

   
 

N/A

 

Statement of Compensation

(Form 6)

   
 

 

Schedule of In-Force Insurance

(Form 7)

   

and that they have been prepared in accordance with normal and customary accounting

 

practices, and fairly and accurately reflect the debtor's financial activity for the period stated;

2.

That the insurance, including workers' compensation and unemployment insurance,

as described in Section 4 of the Reporting Requirements For Chapter 11 Cases is in effect; and,

(If not, attach a written explanation)

 

YES  √

  

NO

   

3.

That all postpetition taxes as described in Sections 1 and 14 of the Operating

 

Instructions and Reporting Requirements For Chapter 11 cases are current.

   

(If not, attach a written explanation)

 

YES  √

  

NO

   

4.

No professional fees (attorney, accountant, etc.) have been paid without specific

court authorization.

          

(If not, attach a written explanation)

 

YES  √

  

NO

   

5.

All United States Trustee Quarterly fees have been paid and are current.

  

6.

Have you filed your prepetition tax returns.

      

(If not, attach a written explanation)

 

YES  √

  

NO

   
            

I hereby certify, under penalty of perjury, that the information provided above and in the attached

documents is true and correct to the best of my information and belief.

   
            
 

Dated:  1/27/05

 

/s/ Robert W. Lafferty

 

  
     

(Debtor in Possession)

   
            
     

Senior V.P.-Finance, CFO & Treasurer

  
     

Title

   
            
     

(937) 865-5407

    
     

Phone

      
           

FORM 1










HUFFY RISK MANAGEMENT (HRMI)

   

OPERATING STATEMENT

   

PERIOD ENDING: DECEMBER 31, 2004

   
 

Case No: 04-39149

    

 

   

($000)

Totals

 

Totals

 

Current Month

 

Since Filing

Gross Sales

                   -   

 

                 -   

Net Sales

                   -   

 

                 -   

Adjusted Gross Profit

                   -   

 

                 -   

     % Net Sales

#DIV/0!

 

#DIV/0!

Operating Expenses;

 

 

 

Total Selling Expenses

                   -   

 

                 -   

     % Net Sales

#DIV/0!

 

#DIV/0!

Other Product Line Expenses

                   -   

 

                 -   

     % Net Sales

#DIV/0!

 

#DIV/0!

Corporate Expenses, Net

                   -   

 

                 -   

Total Operating Expenses

                  -   

 

                -   

     % Net Sales

#DIV/0!

 

#DIV/0!

Operating Income

                   -   

 

                 -   

     % Net Sales

#DIV/0!

 

#DIV/0!

Other (Income)/Expense

                   -   

 

                 -   

EBIT Excl. Restructuring

                   -   

 

                 -   

     % Net Sales

#DIV/0!

 

#DIV/0!

Restructuring & Other Expense

                   -   

 

                 -   

Interest Expense

                   -   

 

                 -   

Pre-Tax Income From Contin. Ops

                   -   

 

                 -   

Loss/(Gain) on Discontinued OPS

                  38

 

              236

Pre-Tax

                 (38)

 

             (236)

Provision for Taxes

0

 

0

Net Earnings

                 (38)

 

             (236)

    
    
   

FORM 2











HUFFY RISK MANAGEMENT (HRMI)

     

Balance Sheet

Current

 

Prior

 

At

Period Ending: December 31, 2004

Month

 

Month

 

Filing

      
      

Total Cash

$0

 

$0

 

$0

      

Net Receivables

$0

 

$0

 

$0

      

Net Inventory

$0

 

$0

 

$0

      

Total Prepaids

$0

 

$0

 

$0

      

Net PP & E

$0

 

$0

 

$0

      

Goodwill-net of Amortization

$0

 

$0

 

$0

      

Other Assets

$0

 

$0

 

$0

      

Total Assets

$0

 

$0

 

$0

      

Liabilities & Equity

     
      

Post Petition Liabilities

     

Accounts Payable

$0

 

$0

 

$0

Wages & Salaries/Commissions

$0

 

$0

 

$0

Total Post Petition Liabilities

$0

 

$0

 

$0

      

Bank Debt

$0

 

$0

 

$0

      

Prepetition Liabilities

     

Accounts Payable

$0

 

$0

 

$0

Other Current Liabilities

$772

 

$675

 

$675

Accrued Liabilities

$0

 

$0

 

$0

Mortgage/Notes & Capital Leases

$0

 

$0

 

$0

Salaried Pension

$0

 

$0

 

$0

Long Term Liabilities

$0

 

$0

 

$0

Intercompany Huffy

($993)

 

($934)

 

($1,132)

      

Liabilities Subject to Compromise

($221)

 

($259)

 

($457)

      

Total Liabilities

($221)

 

($259)

 

($457)

      

Shareholder's Equity

     

Owners Capital

$180

 

$180

 

$180

Pre Petition Retained Earnings

$277

 

$277

 

$277

Post Petition Retained Earnings

($236)

 

($198)

 

$0

Total Shareholder's Equity

$221

 

$259

 

$457

      

Total Liabilities & Equity

$0

 

$0

 

$0

      

Variance

$0

 

$0

 

$0

      

FORM 3










SCHEDULE OF IN-FORCE INSURANCE

Period Ending: DECEMBER 31, 2004


Case No. 04-39149


INSURANCE TYPE

 

CARRIER

 

EXPIRATION DATE

Workers’ Compensation

 

Commerce and Industry Ins. Co

 

7/1/05

General Business Policy

 

Lexington Ins. Co.

 

7/1/05

Directors & Officers Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Excess Directors & Officers Liability

 

Zurich Ins. Co.

 

1/5/05

Excess Directors & Officers Liability

 

National Union Fire Ins. Co.

 

1/1/05

Outside Directors Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Fiduciary Liability & Crime

 

Federal Ins. Co. (Chubb)

 

1/1/05

Employed Lawyers

 

Executive Risk Indemnity (Chubb)

 

1/1/05

Cargo & War

 

Fireman’s Fund Ins. Co.

 

7/1/05

General Liability

 

Lexington Ins. Co.

 

7/1/05

Automobile Liability

 

Progressive Preferred Ins. Co.

 

7/1/05

Worker’s Compensation (CA)

 

Commerce & Industry Ins. Co.

 

7/1/05

Excess Worker’s Compensation

 

Employers Reinsurance Corporation

 

7/1/05

Umbrella Liability

 

National Union fire Ins. Co. (AIG)

 

7/1/05

Property

 

American Guaranty & Liability

 

7/1/05

Excess California Earthquake

 

Clarendon/Empire/Glencoe

 

7/1/05

International Liability

 

ACE American Ins. Co.

 

7/1/05

Kidnap/Ransom

 

Federal Ins. Co. (Chubb)

 

8/15/05

Non-Owned Aircraft Liability

 

XL Specialty Ins. Co.

 

7/1/05

Pollution Legal Liability

 

American International Specialty Lines

 

1/6/10


xix.


FORM 7











TRANSMITTAL OF FINANCIAL REPORTS AND

CERTIFICATION OF COMPLIANCE WITH

UNITED STATES TRUSTEE OPERATING REQUIREMENTS FOR

THE PERIOD ENDED:  DECEMBER 31, 2004

            

IN RE:

      

:

CASE NO:  04-39150

  
       

:

Chapter 11

   
       

:

Judge:  Lawrence S. Walter

       

:

    

HUFCO-OHIO, INC. 

 

       
 

     Debtor

          
            

As debtor in possession, I affirm:

        
            

1.

That I have reviewed the financial statements attached hereto, consisting of:

  
 

N/A

 

Operating Statement

(Form 2)

   
 

N/A

 

Balance Sheet

(Form 3)

   
 

N/A

 

Summary of Operations

(Form 4)

   
 

N/A

 

Monthly Cash Statement

(Form 5)

   
 

N/A

 

Cash Report

(Form 5A)

   
 

N/A

 

Statement of Compensation

(Form 6)

   
 

 

Schedule of In-Force Insurance

(Form 7)

   

and that they have been prepared in accordance with normal and customary accounting

 

practices, and fairly and accurately reflect the debtor's financial activity for the period stated;

2.

That the insurance, including workers' compensation and unemployment insurance,

as described in Section 4 of the Reporting Requirements For Chapter 11 Cases is in effect; and,

(If not, attach a written explanation)

 

YES  √

  

NO

   

3.

That all postpetition taxes as described in Sections 1 and 14 of the Operating

 

Instructions and Reporting Requirements For Chapter 11 cases are current.

   

(If not, attach a written explanation)

 

YES  √

  

NO

   

4.

No professional fees (attorney, accountant, etc.) have been paid without specific

court authorization.

          

(If not, attach a written explanation)

 

YES  √

  

NO

   

5.

All United States Trustee Quarterly fees have been paid and are current.

  

6.

Have you filed your prepetition tax returns.

      

(If not, attach a written explanation)

 

YES  

  

NO    

   
            

I hereby certify, under penalty of perjury, that the information provided above and in the attached

documents is true and correct to the best of my information and belief.

   
            
 

Dated:  1/27/05

 

/s/ Robert W. Lafferty

 

  
     

(Debtor in Possession)

   
            
     

Senior V.P.-Finance, CFO & Treasurer

  
     

Title

   
            
     

(937) 865-5407

    
     

Phone

      
           

FORM 1












HUFCO-OHIO, INC.


TAXES


Prior to the acquisition of Creative Retail Services (“CRS”) by Huffy Corporation in March of 2002, CRS had not filed tax returns in all states.  Post acquisition, Huffy Corporation has caused CRS to file returns in any state that has requested filing and is current on its filings with thirteen states.  As a result of the bankruptcy notice, certain states in which CRS has not filed, have indicated that they believe CRS may have a potential  tax filing obligation.


Huffy Corporation has engaged Ernst & Young LLP to assist in filing returns in those states in which CRS has not filed to ensure that CRS is current with its required tax filing obligations.


An initial estimate indicates that for the years 2002, 2003 and 2004, the maximum potential liability to all state taxing authorities is potentially in the range of $100,000 - $200,000.











SCHEDULE OF IN-FORCE INSURANCE

Period Ending: DECEMBER 31, 2004


Case No. 04-39150


INSURANCE TYPE

 

CARRIER

 

EXPIRATION DATE

Workers’ Compensation

 

Commerce and Industry Ins. Co

 

7/1/05

General Business Policy

 

Lexington Ins. Co.

 

7/1/05

Directors & Officers Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Excess Directors & Officers Liability

 

Zurich Ins. Co.

 

1/5/05

Excess Directors & Officers Liability

 

National Union Fire Ins. Co.

 

1/1/05

Outside Directors Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Fiduciary Liability & Crime

 

Federal Ins. Co. (Chubb)

 

1/1/05

Employed Lawyers

 

Executive Risk Indemnity (Chubb)

 

1/1/05

Cargo & War

 

Fireman’s Fund Ins. Co.

 

7/1/05

General Liability

 

Lexington Ins. Co.

 

7/1/05

Automobile Liability

 

Progressive Preferred Ins. Co.

 

7/1/05

Worker’s Compensation (CA)

 

Commerce & Industry Ins. Co.

 

7/1/05

Excess Worker’s Compensation

 

Employers Reinsurance Corporation

 

7/1/05

Umbrella Liability

 

National Union fire Ins. Co. (AIG)

 

7/1/05

Property

 

American Guaranty & Liability

 

7/1/05

Excess California Earthquake

 

Clarendon/Empire/Glencoe

 

7/1/05

International Liability

 

ACE American Ins. Co.

 

7/1/05

Kidnap/Ransom

 

Federal Ins. Co. (Chubb)

 

8/15/05

Non-Owned Aircraft Liability

 

XL Specialty Ins. Co.

 

7/1/05

Pollution Legal Liability

 

American International Specialty Lines

 

1/6/10


xix.


FORM 7











TRANSMITTAL OF FINANCIAL REPORTS AND

CERTIFICATION OF COMPLIANCE WITH

UNITED STATES TRUSTEE OPERATING REQUIREMENTS FOR

THE PERIOD ENDED:  DECEMBER 31, 2004

            

IN RE:

      

:

CASE NO:  04-39151

  
       

:

Chapter 11

   
       

:

Judge:  Lawrence S. Walter

       

:

    

HCAC, INC.

       
 

     Debtor

          
            

As debtor in possession, I affirm:

        
            

1.

That I have reviewed the financial statements attached hereto, consisting of:

  
 

N/A

 

Operating Statement

(Form 2)

   
 

N/A

 

Balance Sheet

(Form 3)

   
 

N/A

 

Summary of Operations

(Form 4)

   
 

N/A

 

Monthly Cash Statement

(Form 5)

   
 

N/A

 

Cash Report

(Form 5A)

   
 

N/A

 

Statement of Compensation

(Form 6)

   
 

 

Schedule of In-Force Insurance

(Form 7)

   

and that they have been prepared in accordance with normal and customary accounting

 

practices, and fairly and accurately reflect the debtor's financial activity for the period stated;

2.

That the insurance, including workers' compensation and unemployment insurance,

as described in Section 4 of the Reporting Requirements For Chapter 11 Cases is in effect; and,

(If not, attach a written explanation)

 

YES  √

  

NO

   

3.

That all postpetition taxes as described in Sections 1 and 14 of the Operating

 

Instructions and Reporting Requirements For Chapter 11 cases are current.

   

(If not, attach a written explanation)

 

YES  √

  

NO

   

4.

No professional fees (attorney, accountant, etc.) have been paid without specific

court authorization.

          

(If not, attach a written explanation)

 

YES  √

  

NO

   

5.

All United States Trustee Quarterly fees have been paid and are current.

  

6.

Have you filed your prepetition tax returns.

      

(If not, attach a written explanation)

 

YES  √

  

NO

   
            

I hereby certify, under penalty of perjury, that the information provided above and in the attached

documents is true and correct to the best of my information and belief.

   
            
 

Dated:  1/27/05

 

/s/ Robert W. Lafferty

 

  
     

(Debtor in Possession)

   
            
     

Senior V.P.-Finance, CFO & Treasurer

  
     

Title

   
            
     

(937) 865-5407

    
     

Phone

      
           

FORM 1










SCHEDULE OF IN-FORCE INSURANCE

Period Ending: DECEMBER 31, 2004


Case No. 04-39151


INSURANCE TYPE

 

CARRIER

 

EXPIRATION DATE

Workers’ Compensation

 

Commerce and Industry Ins. Co

 

7/1/05

General Business Policy

 

Lexington Ins. Co.

 

7/1/05

Directors & Officers Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Excess Directors & Officers Liability

 

Zurich Ins. Co.

 

1/5/05

Excess Directors & Officers Liability

 

National Union Fire Ins. Co.

 

1/1/05

Outside Directors Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Fiduciary Liability & Crime

 

Federal Ins. Co. (Chubb)

 

1/1/05

Employed Lawyers

 

Executive Risk Indemnity (Chubb)

 

1/1/05

Cargo & War

 

Fireman’s Fund Ins. Co.

 

7/1/05

General Liability

 

Lexington Ins. Co.

 

7/1/05

Automobile Liability

 

Progressive Preferred Ins. Co.

 

7/1/05

Worker’s Compensation (CA)

 

Commerce & Industry Ins. Co.

 

7/1/05

Excess Worker’s Compensation

 

Employers Reinsurance Corporation

 

7/1/05

Umbrella Liability

 

National Union fire Ins. Co. (AIG)

 

7/1/05

Property

 

American Guaranty & Liability

 

7/1/05

Excess California Earthquake

 

Clarendon/Empire/Glencoe

 

7/1/05

International Liability

 

ACE American Ins. Co.

 

7/1/05

Kidnap/Ransom

 

Federal Ins. Co. (Chubb)

 

8/15/05

Non-Owned Aircraft Liability

 

XL Specialty Ins. Co.

 

7/1/05

Pollution Legal Liability

 

American International Specialty Lines

 

1/6/10


xix.


FORM 7











TRANSMITTAL OF FINANCIAL REPORTS AND

CERTIFICATION OF COMPLIANCE WITH

UNITED STATES TRUSTEE OPERATING REQUIREMENTS FOR

THE PERIOD ENDED:  DECEMBER 31, 2004

            

IN RE:

      

:

CASE NO:  04-39152

  
       

:

Chapter 11

   
       

:

Judge:  Lawrence S. Walter

       

:

    

HUFCO-DELAWARE COMPANY 

 

       
 

     Debtor

          
            

As debtor in possession, I affirm:

        
            

1.

That I have reviewed the financial statements attached hereto, consisting of:

  
 

N/A

 

Operating Statement

(Form 2)

   
 

N/A

 

Balance Sheet

(Form 3)

   
 

N/A

 

Summary of Operations

(Form 4)

   
 

N/A

 

Monthly Cash Statement

(Form 5)

   
 

N/A

 

Cash Report

(Form 5A)

   
 

N/A

 

Statement of Compensation

(Form 6)

   
 

 

Schedule of In-Force Insurance

(Form 7)

   

and that they have been prepared in accordance with normal and customary accounting

 

practices, and fairly and accurately reflect the debtor's financial activity for the period stated;

2.

That the insurance, including workers' compensation and unemployment insurance,

as described in Section 4 of the Reporting Requirements For Chapter 11 Cases is in effect; and,

(If not, attach a written explanation)

 

YES  √

  

NO

   

3.

That all postpetition taxes as described in Sections 1 and 14 of the Operating

 

Instructions and Reporting Requirements For Chapter 11 cases are current.

   

(If not, attach a written explanation)

 

YES  √

  

NO

   

4.

No professional fees (attorney, accountant, etc.) have been paid without specific

court authorization.

          

(If not, attach a written explanation)

 

YES  √

  

NO

   

5.

All United States Trustee Quarterly fees have been paid and are current.

  

6.

Have you filed your prepetition tax returns.

      

(If not, attach a written explanation)

 

YES  √

  

NO

   
            

I hereby certify, under penalty of perjury, that the information provided above and in the attached

documents is true and correct to the best of my information and belief.

   
            
 

Dated:  1/27/05

 

/s/ Robert W. Lafferty

 

  
     

(Debtor in Possession)

   
            
     

Senior V.P.-Finance, CFO & Treasurer

  
     

Title

   
            
     

(937) 865-5407

    
     

Phone

      
           

FORM 1










SCHEDULE OF IN-FORCE INSURANCE

Period Ending: DECEMBER 31, 2004


Case No. 04-39152


INSURANCE TYPE

 

CARRIER

 

EXPIRATION DATE

Workers’ Compensation

 

Commerce and Industry Ins. Co

 

7/1/05

General Business Policy

 

Lexington Ins. Co.

 

7/1/05

Directors & Officers Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Excess Directors & Officers Liability

 

Zurich Ins. Co.

 

1/5/05

Excess Directors & Officers Liability

 

National Union Fire Ins. Co.

 

1/1/05

Outside Directors Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Fiduciary Liability & Crime

 

Federal Ins. Co. (Chubb)

 

1/1/05

Employed Lawyers

 

Executive Risk Indemnity (Chubb)

 

1/1/05

Cargo & War

 

Fireman’s Fund Ins. Co.

 

7/1/05

General Liability

 

Lexington Ins. Co.

 

7/1/05

Automobile Liability

 

Progressive Preferred Ins. Co.

 

7/1/05

Worker’s Compensation (CA)

 

Commerce & Industry Ins. Co.

 

7/1/05

Excess Worker’s Compensation

 

Employers Reinsurance Corporation

 

7/1/05

Umbrella Liability

 

National Union fire Ins. Co. (AIG)

 

7/1/05

Property

 

American Guaranty & Liability

 

7/1/05

Excess California Earthquake

 

Clarendon/Empire/Glencoe

 

7/1/05

International Liability

 

ACE American Ins. Co.

 

7/1/05

Kidnap/Ransom

 

Federal Ins. Co. (Chubb)

 

8/15/05

Non-Owned Aircraft Liability

 

XL Specialty Ins. Co.

 

7/1/05

Pollution Legal Liability

 

American International Specialty Lines

 

1/6/10


xix.


FORM 7











TRANSMITTAL OF FINANCIAL REPORTS AND

CERTIFICATION OF COMPLIANCE WITH

UNITED STATES TRUSTEE OPERATING REQUIREMENTS FOR

THE PERIOD ENDED:  DECEMBER 31, 2004

            

IN RE:

      

:

CASE NO:  04-39153

  
       

:

Chapter 11

   
       

:

Judge:  Lawrence S. Walter

       

:

    

HUFFY SPORTS, INC. 

       
 

     Debtor

          
            

As debtor in possession, I affirm:

        
            

1.

That I have reviewed the financial statements attached hereto, consisting of:

  
 

N/A

 

Operating Statement

(Form 2)

   
 

N/A

 

Balance Sheet

(Form 3)

   
 

N/A

 

Summary of Operations

(Form 4)

   
 

N/A

 

Monthly Cash Statement

(Form 5)

   
 

N/A

 

Cash Report

(Form 5A)

   
 

N/A

 

Statement of Compensation

(Form 6)

   
 

 

Schedule of In-Force Insurance

(Form 7)

   

and that they have been prepared in accordance with normal and customary accounting

 

practices, and fairly and accurately reflect the debtor's financial activity for the period stated;

2.

That the insurance, including workers' compensation and unemployment insurance,

as described in Section 4 of the Reporting Requirements For Chapter 11 Cases is in effect; and,

(If not, attach a written explanation)

 

YES  √

  

NO

   

3.

That all postpetition taxes as described in Sections 1 and 14 of the Operating

 

Instructions and Reporting Requirements For Chapter 11 cases are current.

   

(If not, attach a written explanation)

 

YES  √

  

NO

   

4.

No professional fees (attorney, accountant, etc.) have been paid without specific

court authorization.

          

(If not, attach a written explanation)

 

YES  √

  

NO

   

5.

All United States Trustee Quarterly fees have been paid and are current.

  

6.

Have you filed your prepetition tax returns.

      

(If not, attach a written explanation)

 

YES  √

  

NO

   
            

I hereby certify, under penalty of perjury, that the information provided above and in the attached

documents is true and correct to the best of my information and belief.

   
            
 

Dated:  1/27/05

 

/s/ Robert W. Lafferty

 

  
     

(Debtor in Possession)

   
            
     

Senior V.P.-Finance, CFO & Treasurer

  
     

Title

   
            
     

(937) 865-5407

    
     

Phone

      
           

FORM 1










SCHEDULE OF IN-FORCE INSURANCE

Period Ending: DECEMBER 31, 2004


Case No. 04-39153


INSURANCE TYPE

 

CARRIER

 

EXPIRATION DATE

Workers’ Compensation

 

Commerce and Industry Ins. Co

 

7/1/05

General Business Policy

 

Lexington Ins. Co.

 

7/1/05

Directors & Officers Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Excess Directors & Officers Liability

 

Zurich Ins. Co.

 

1/5/05

Excess Directors & Officers Liability

 

National Union Fire Ins. Co.

 

1/1/05

Outside Directors Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Fiduciary Liability & Crime

 

Federal Ins. Co. (Chubb)

 

1/1/05

Employed Lawyers

 

Executive Risk Indemnity (Chubb)

 

1/1/05

Cargo & War

 

Fireman’s Fund Ins. Co.

 

7/1/05

General Liability

 

Lexington Ins. Co.

 

7/1/05

Automobile Liability

 

Progressive Preferred Ins. Co.

 

7/1/05

Worker’s Compensation (CA)

 

Commerce & Industry Ins. Co.

 

7/1/05

Excess Worker’s Compensation

 

Employers Reinsurance Corporation

 

7/1/05

Umbrella Liability

 

National Union fire Ins. Co. (AIG)

 

7/1/05

Property

 

American Guaranty & Liability

 

7/1/05

Excess California Earthquake

 

Clarendon/Empire/Glencoe

 

7/1/05

International Liability

 

ACE American Ins. Co.

 

7/1/05

Kidnap/Ransom

 

Federal Ins. Co. (Chubb)

 

8/15/05

Non-Owned Aircraft Liability

 

XL Specialty Ins. Co.

 

7/1/05

Pollution Legal Liability

 

American International Specialty Lines

 

1/6/10


xix.


FORM 7











TRANSMITTAL OF FINANCIAL REPORTS AND

CERTIFICATION OF COMPLIANCE WITH

UNITED STATES TRUSTEE OPERATING REQUIREMENTS FOR

THE PERIOD ENDED:  DECEMBER 31, 2004

            

IN RE:

      

:

CASE NO:  04-39154

  
       

:

Chapter 11

   
       

:

Judge:  Lawrence S. Walter

       

:

    

AMERICAN SPORTS DESIGN COMPANY

 

       
 

     Debtor

          
            

As debtor in possession, I affirm:

        
            

1.

That I have reviewed the financial statements attached hereto, consisting of:

  
 

 

Operating Statement

(Form 2)

   
 

 

Balance Sheet

(Form 3)

   
 

 

Summary of Operations

(Form 4)

   
 

N/A

 

Monthly Cash Statement

(Form 5)

   
 

N/A

 

Cash Report

(Form 5A)

   
 

N/A

 

Statement of Compensation

(Form 6)

   
 

 

Schedule of In-Force Insurance

(Form 7)

   

and that they have been prepared in accordance with normal and customary accounting

 

practices, and fairly and accurately reflect the debtor's financial activity for the period stated;

2.

That the insurance, including workers' compensation and unemployment insurance,

as described in Section 4 of the Reporting Requirements For Chapter 11 Cases is in effect; and,

(If not, attach a written explanation)

 

YES  √

  

NO

   

3.

That all postpetition taxes as described in Sections 1 and 14 of the Operating

 

Instructions and Reporting Requirements For Chapter 11 cases are current.

   

(If not, attach a written explanation)

 

YES  √

  

NO

   

4.

No professional fees (attorney, accountant, etc.) have been paid without specific

court authorization.

          

(If not, attach a written explanation)

 

YES  √

  

NO

   

5.

All United States Trustee Quarterly fees have been paid and are current.

  

6.

Have you filed your prepetition tax returns.

      

(If not, attach a written explanation)

 

YES  √

  

NO

   
            

I hereby certify, under penalty of perjury, that the information provided above and in the attached

documents is true and correct to the best of my information and belief.

   
            
 

Dated:  1/27/05

 

/s/ Robert W. Lafferty

 

  
     

(Debtor in Possession)

   
            
     

Senior V.P.-Finance, CFO & Treasurer

  
     

Title

   
            
     

(937) 865-5407

    
     

Phone

      
           

FORM 1










AMERICAN SPORTS DESIGN

   

OPERATING STATEMENT

   

PERIOD ENDING: DECEMBER 31, 2004

   
 

Case No: 04-39154

    

 

   

($000)

Totals

 

Totals

 

Current Month

 

Since Filing

Gross Sales

                 100

 

              100

Net Sales

                 100

 

              100

Adjusted Gross Profit

                 100

 

              100

     % Net Sales

100.0%

 

100.0%

Operating Expenses;

 

 

 

Total Selling Expenses

                   -   

 

                 -   

     % Net Sales

0.0%

 

0.0%

Other Product Line Expenses

                   -   

 

                 -   

     % Net Sales

0.0%

 

0.0%

Corporate Expenses, Net

                   -   

 

                 -   

Total Operating Expenses

                  -   

 

                -   

     % Net Sales

0.0%

 

0.0%

Operating Income

                 100

 

              100

     % Net Sales

100.0%

 

100.0%

Other (Income)/Expense

                   -   

 

                 -   

EBIT Excl. Restructuring

                 100

 

              100

     % Net Sales

100.0%

 

100.0%

Restructuring & Other Expense

                   -   

 

                 -   

Interest Expense

                   -   

 

                 -   

Pre-Tax Income From Contin. Ops

                 100

 

              100

Loss/(Gain) on Discontinued OPS

                   -   

 

                 -   

Pre-Tax

                 100

 

              100

Provision for Taxes

0

 

0

Net Earnings

                 100

 

              100

    


FORM 2











AMERICAN SPORTS DESIGN

     

Balance Sheet

Current

 

Prior

 

At

Period Ending: December 31, 2004

Month

 

Month

 

Filing

      
      

Total Cash

$0

 

$0

 

$0

      

Net Receivables

$169

 

$81

 

$91

      

Net Inventory

$0

 

$0

 

$0

      

Total Prepaids

$0

 

$0

 

$0

      

Net PP & E

$0

 

$0

 

$0

      

Goodwill-net of Amortization

$824

 

$824

 

$824

      

Other Assets

$0

 

$0

 

$0

      

Total Assets

$993

 

$905

 

$915

      

Liabilities & Equity

     
      

Post Petition Liabilities

     

Accounts Payable

$0

 

$0

 

$0

Wages & Salaries/Commissions

$0

 

$0

 

$0

Total Post Petition Liabilities

$0

 

$0

 

$0

      

Bank Debt

$0

 

$0

 

$0

      

Prepetition Liabilities

     

Accounts Payable

$0

 

$0

 

$0

Other Current Liabilities

$0

 

$0

 

$0

Accrued Liabilities

$0

 

$0

 

$0

Mortgage/Notes & Capital Leases

$0

 

$0

 

$0

Salaried Pension

$0

 

$0

 

$0

Long Term Liabilities

$0

 

$0

 

$0

Intercompany Accounts with Huffy

$3,709

 

$3,721

 

$3,731

      

Liabilities Subject to Compromise

$3,709

 

$3,721

 

$3,731

      

Total Liabilities

$3,709

 

$3,721

 

$3,731

      

Shareholder's Equity

     

Owners Capital

$0

 

$0

 

$0

Pre Petition Retained Earnings

($2,816)

 

($2,816)

 

($2,816)

Post Petition Retained Earnings

$100

 

$0

 

$0

Total Shareholder's Equity

($2,716)

 

($2,816)

 

($2,816)

      

Total Liabilities & Equity

$993

 

$905

 

$915

      

Variance

$0

 

$0

 

$0

      

FORM 3











  

AMERICAN SPORTS DESIGN

   
  

SUMMARY OF OPERATIONS

   
  

Period Ended: December 31, 2004

Case No: 04-39154

          
 

Schedule of Postpetition Taxes Payable

  
          
 

Beginning

 

Accrued/

 

Payments/

 

Ending

  

( $ in 000)

Balance

 

Withheld

 

Deposits

 

Balance

  
          

Income Taxes Withheld:

         

Federal:

$0

 

$0

 

$0

 

$0

  

State:

 

 

 

 

 

 

$0

  

Local:

 

 

 

 

 

 

$0

  
          

FICA Withheld:

 

 

 

 

 

 

$0

  
          

Employers FICA:

$0

 

$0

 

$0

 

$0

  
          

Unemployment Tax:

         

Federal:

$0

 

$0

 

 

 

$0

  

State:

$0

 

$0

 

 

 

$0

  
          

Sales, Use & Excise

         

Taxes:

$0

 

$0

 

 

 

$0

  
          

Property Taxes:

$0

 

$0

 

 

 

$0

  
          

Real Estate Taxes

$0

 

$0

 

 

 

$0

  
          

TOTALS:

$0

 

$0

 

$0

 

$0

  
          
 

AGING OF ACCOUNTS RECEIVABLE

   
 

AND POSTPETITION ACCOUNTS PAYABLE

   
          

Age in Days

0-30

 

30-60

 

Over 60

    

Post Petition

    

               

    

Accounts Payable

--

 

--

 

--

    
          

Accounts Receivable

25,000

 

--

 

144,334

    
          

For all postpetition accounts payable over 30 days old, please attach a sheet listing each such

 

account to whom the account is owed, the date the account was opened, and the reason for

 

non-payment of the account.

 
          

Describe events or factors occurring during this reporting period materially affecting operations

and formulation of a Plan of Reorganization.

 
        
          

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 FORM 4

 









SCHEDULE OF IN-FORCE INSURANCE

Period Ending: DECEMBER 31, 2004


Case No. 04-39154


INSURANCE TYPE

 

CARRIER

 

EXPIRATION DATE

Workers’ Compensation

 

Commerce and Industry Ins. Co

 

7/1/05

General Business Policy

 

Lexington Ins. Co.

 

7/1/05

Directors & Officers Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Excess Directors & Officers Liability

 

Zurich Ins. Co.

 

1/5/05

Excess Directors & Officers Liability

 

National Union Fire Ins. Co.

 

1/1/05

Outside Directors Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Fiduciary Liability & Crime

 

Federal Ins. Co. (Chubb)

 

1/1/05

Employed Lawyers

 

Executive Risk Indemnity (Chubb)

 

1/1/05

Cargo & War

 

Fireman’s Fund Ins. Co.

 

7/1/05

General Liability

 

Lexington Ins. Co.

 

7/1/05

Automobile Liability

 

Progressive Preferred Ins. Co.

 

7/1/05

Worker’s Compensation (CA)

 

Commerce & Industry Ins. Co.

 

7/1/05

Excess Worker’s Compensation

 

Employers Reinsurance Corporation

 

7/1/05

Umbrella Liability

 

National Union fire Ins. Co. (AIG)

 

7/1/05

Property

 

American Guaranty & Liability

 

7/1/05

Excess California Earthquake

 

Clarendon/Empire/Glencoe

 

7/1/05

International Liability

 

ACE American Ins. Co.

 

7/1/05

Kidnap/Ransom

 

Federal Ins. Co. (Chubb)

 

8/15/05

Non-Owned Aircraft Liability

 

XL Specialty Ins. Co.

 

7/1/05

Pollution Legal Liability

 

American International Specialty Lines

 

1/6/10


xix.


FORM 7











TRANSMITTAL OF FINANCIAL REPORTS AND

CERTIFICATION OF COMPLIANCE WITH

UNITED STATES TRUSTEE OPERATING REQUIREMENTS FOR

THE PERIOD ENDED:  DECEMBER 31, 2004

            

IN RE:

      

:

CASE NO:  04-39155

  
       

:

Chapter 11

   
       

:

Judge:  Lawrence S. Walter

       

:

    

HUFFY SPORTS WASHINGTON, INC. 

       
 

     Debtor

          
            

As debtor in possession, I affirm:

        
            

1.

That I have reviewed the financial statements attached hereto, consisting of:

  
 

 

Operating Statement

(Form 2)

   
 

 

Balance Sheet

(Form 3)

   
 

N/A

 

Summary of Operations

(Form 4)

   
 

N/A

 

Monthly Cash Statement

(Form 5)

   
 

N/A

 

Cash Report

(Form 5A)

   
 

N/A

 

Statement of Compensation

(Form 6)

   
 

 

Schedule of In-Force Insurance

(Form 7)

   

and that they have been prepared in accordance with normal and customary accounting

 

practices, and fairly and accurately reflect the debtor's financial activity for the period stated;

2.

That the insurance, including workers' compensation and unemployment insurance,

as described in Section 4 of the Reporting Requirements For Chapter 11 Cases is in effect; and,

(If not, attach a written explanation)

 

YES  √

  

NO

   

3.

That all postpetition taxes as described in Sections 1 and 14 of the Operating

 

Instructions and Reporting Requirements For Chapter 11 cases are current.

   

(If not, attach a written explanation)

 

YES  √

  

NO

   

4.

No professional fees (attorney, accountant, etc.) have been paid without specific

court authorization.

          

(If not, attach a written explanation)

 

YES  √

  

NO

   

5.

All United States Trustee Quarterly fees have been paid and are current.

  

6.

Have you filed your prepetition tax returns.

      

(If not, attach a written explanation)

 

YES  √

  

NO

   
            

I hereby certify, under penalty of perjury, that the information provided above and in the attached

documents is true and correct to the best of my information and belief.

   
            
 

Dated:  1/27/05

 

/s/ Robert W. Lafferty

 

  
     

(Debtor in Possession)

   
            
     

Senior V.P.-Finance, CFO & Treasurer

  
     

Title

   
            
     

(937) 865-5407

    
     

Phone

      
           

FORM 1










HUFFY SPORTS WASHINGTON

   

OPERATING STATEMENT

   

PERIOD ENDING: DECEMBER 31, 2004

   
 

Case No: 04-39155

    

 

   

($000)

Totals

 

Totals

 

Current Month

 

Since Filing

Gross Sales

                   -   

 

                 -   

Net Sales

                   -   

 

                 -   

Adjusted Gross Profit

                   -   

 

                 -   

     % Net Sales

#DIV/0!

 

#DIV/0!

Operating Expenses;

 

 

 

Total Selling Expenses

                   -   

 

                 -   

     % Net Sales

#DIV/0!

 

#DIV/0!

Other Product Line Expenses

                   -   

 

                 -   

     % Net Sales

#DIV/0!

 

#DIV/0!

Corporate Expenses, Net

                   -   

 

                 -   

Total Operating Expenses

                  -   

 

                -   

     % Net Sales

#DIV/0!

 

#DIV/0!

Operating Income

                   -   

 

                 -   

     % Net Sales

#DIV/0!

 

#DIV/0!

Other (Income)/Expense

                   -   

 

                 -   

EBIT Excl. Restructuring

                   -   

 

                 -   

     % Net Sales

#DIV/0!

 

#DIV/0!

Restructuring & Other Expense

                   -   

 

                 -   

Interest Expense

                   -   

 

                 -   

Pre-Tax Income From Contin. Ops

                   -   

 

                 -   

Loss/(Gain) on Discontinued OPS

                 838

 

            1,324

Pre-Tax

                (838)

 

           (1,324)

Provision for Taxes

0

 

1480

Net Earnings

                (838)

 

           (2,804)

   

FORM 2











HUFFY SPORTS WASHINGTON

     

Case No: 04-39155

Balance Sheet

Current

 

Prior

 

At

  

Period Ending: December 31, 2004

Month

 

Month

 

Filing

  
        

Total Cash

$0

 

$0

 

$0

  
        

Net Receivables

$0

 

$2

 

$0

  
        

Net Inventory

$0

 

$0

 

$0

  
        

Total Prepaids

$0

 

$92

 

$92

  
        

Net PP & E

$21

 

$540

 

$596

  
        

Goodwill-net of Amortization

$0

 

$0

 

$0

  
        

Other Assets

$0

 

$0

 

$1,480

  
        

Total Assets

$21

 

$634

 

$2,168

  
        

Liabilities & Equity

       
        

Post Petition Liabilities

       

Accounts Payable

$0

 

$0

 

$0

  

Wages & Salaries/Commissions

$0

 

$0

 

$0

  

Total Post Petition Liabilities

$0

 

$0

 

$0

  
        

Secured Liabilities

       

Subject to Post Petition

$0

 

$0

 

$0

  

Bank Debt

$0

 

$0

 

$0

  

All Other Secured Liabilities

$0

 

$0

 

$0

  
        

Total Secured Liabilities

$0

 

$0

 

$0

  
        

Prepetition Liabilities

       

Accounts Payable

$444

 

$464

 

$914

  

Other Current Liabilities

$20

 

$20

 

$20

  

Accrued Liabilities

$46

 

($3)

 

$0

  

Mortgage/Notes & Capital Leases

$0

 

$0

 

$0

  

Salaried Pension

$0

 

$0

 

$0

  

Long Term Liabilities

$0

 

$0

 

$0

  

Intercompany Accounts with Huffy

$6,979

 

$6,783

 

$5,898

  
        

Liabilities Subject to Compromise

$7,489

 

$7,264

 

$6,832

  
        

Total Liabilities

$7,489

 

$7,264

 

$6,832

  
        

Shareholder's Equity

       

Owners Capital

$0

 

$0

 

$0

  

Pre Petition Retained Earnings

($4,664)

 

($4,664)

 

($4,664)

  

Post Petition Retained Earnings

($2,804)

 

($1,966)

 

$0

  

Total Shareholder's Equity

($7,468)

 

($6,630)

 

($4,664)

  
        

Total Liabilities & Equity

$21

 

$634

 

$2,168

  
        

Variance

$0

 

$0

 

$0

  

FORM 3











SCHEDULE OF IN-FORCE INSURANCE

Period Ending: DECEMBER 31, 2004


Case No. 04-39155


INSURANCE TYPE

 

CARRIER

 

EXPIRATION DATE

Workers’ Compensation

 

Commerce and Industry Ins. Co

 

7/1/05

General Business Policy

 

Lexington Ins. Co.

 

7/1/05

Directors & Officers Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Excess Directors & Officers Liability

 

Zurich Ins. Co.

 

1/5/05

Excess Directors & Officers Liability

 

National Union Fire Ins. Co.

 

1/1/05

Outside Directors Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Fiduciary Liability & Crime

 

Federal Ins. Co. (Chubb)

 

1/1/05

Employed Lawyers

 

Executive Risk Indemnity (Chubb)

 

1/1/05

Cargo & War

 

Fireman’s Fund Ins. Co.

 

7/1/05

General Liability

 

Lexington Ins. Co.

 

7/1/05

Automobile Liability

 

Progressive Preferred Ins. Co.

 

7/1/05

Worker’s Compensation (CA)

 

Commerce & Industry Ins. Co.

 

7/1/05

Excess Worker’s Compensation

 

Employers Reinsurance Corporation

 

7/1/05

Umbrella Liability

 

National Union fire Ins. Co. (AIG)

 

7/1/05

Property

 

American Guaranty & Liability

 

7/1/05

Excess California Earthquake

 

Clarendon/Empire/Glencoe

 

7/1/05

International Liability

 

ACE American Ins. Co.

 

7/1/05

Kidnap/Ransom

 

Federal Ins. Co. (Chubb)

 

8/15/05

Non-Owned Aircraft Liability

 

XL Specialty Ins. Co.

 

7/1/05

Pollution Legal Liability

 

American International Specialty Lines

 

1/6/10


xix.

FORM 7











TRANSMITTAL OF FINANCIAL REPORTS AND

CERTIFICATION OF COMPLIANCE WITH

UNITED STATES TRUSTEE OPERATING REQUIREMENTS FOR

THE PERIOD ENDED:  DECEMBER 31, 2004

            

IN RE:

      

:

CASE NO:  04-39156

  
       

:

Chapter 11

   
       

:

Judge:  Lawrence S. Walter

       

:

    

HUFCO-GEORGIA, INC.

 

       
 

     Debtor

          
            

As debtor in possession, I affirm:

        
            

1.

That I have reviewed the financial statements attached hereto, consisting of:

  
 

N/A

 

Operating Statement

(Form 2)

   
 

N/A

 

Balance Sheet

(Form 3)

   
 

N/A

 

Summary of Operations

(Form 4)

   
 

N/A

 

Monthly Cash Statement

(Form 5)

   
 

N/A

 

Cash Report

(Form 5A)

   
 

N/A

 

Statement of Compensation

(Form 6)

   
 

 

Schedule of In-Force Insurance

(Form 7)

   

and that they have been prepared in accordance with normal and customary accounting

 

practices, and fairly and accurately reflect the debtor's financial activity for the period stated;

2.

That the insurance, including workers' compensation and unemployment insurance,

as described in Section 4 of the Reporting Requirements For Chapter 11 Cases is in effect; and,

(If not, attach a written explanation)

 

YES  √

  

NO

   

3.

That all postpetition taxes as described in Sections 1 and 14 of the Operating

 

Instructions and Reporting Requirements For Chapter 11 cases are current.

   

(If not, attach a written explanation)

 

YES  √

  

NO

   

4.

No professional fees (attorney, accountant, etc.) have been paid without specific

court authorization.

          

(If not, attach a written explanation)

 

YES  √

  

NO

   

5.

All United States Trustee Quarterly fees have been paid and are current.

  

6.

Have you filed your prepetition tax returns.

      

(If not, attach a written explanation)

 

YES  √

  

NO

   
            

I hereby certify, under penalty of perjury, that the information provided above and in the attached

documents is true and correct to the best of my information and belief.

   
            
 

Dated:  1/27/05

 

/s/ Robert W. Lafferty

 

  
     

(Debtor in Possession)

   
            
     

Senior V.P.-Finance, CFO & Treasurer

  
     

Title

   
            
     

(937) 865-5407

    
     

Phone

      
           

FORM 1










SCHEDULE OF IN-FORCE INSURANCE

Period Ending: DECEMBER 31, 2004


Case No. 04-39156


INSURANCE TYPE

 

CARRIER

 

EXPIRATION DATE

Workers’ Compensation

 

Commerce and Industry Ins. Co

 

7/1/05

General Business Policy

 

Lexington Ins. Co.

 

7/1/05

Directors & Officers Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Excess Directors & Officers Liability

 

Zurich Ins. Co.

 

1/5/05

Excess Directors & Officers Liability

 

National Union Fire Ins. Co.

 

1/1/05

Outside Directors Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Fiduciary Liability & Crime

 

Federal Ins. Co. (Chubb)

 

1/1/05

Employed Lawyers

 

Executive Risk Indemnity (Chubb)

 

1/1/05

Cargo & War

 

Fireman’s Fund Ins. Co.

 

7/1/05

General Liability

 

Lexington Ins. Co.

 

7/1/05

Automobile Liability

 

Progressive Preferred Ins. Co.

 

7/1/05

Worker’s Compensation (CA)

 

Commerce & Industry Ins. Co.

 

7/1/05

Excess Worker’s Compensation

 

Employers Reinsurance Corporation

 

7/1/05

Umbrella Liability

 

National Union fire Ins. Co. (AIG)

 

7/1/05

Property

 

American Guaranty & Liability

 

7/1/05

Excess California Earthquake

 

Clarendon/Empire/Glencoe

 

7/1/05

International Liability

 

ACE American Ins. Co.

 

7/1/05

Kidnap/Ransom

 

Federal Ins. Co. (Chubb)

 

8/15/05

Non-Owned Aircraft Liability

 

XL Specialty Ins. Co.

 

7/1/05

Pollution Legal Liability

 

American International Specialty Lines

 

1/6/10


xix.


FORM 7











TRANSMITTAL OF FINANCIAL REPORTS AND

CERTIFICATION OF COMPLIANCE WITH

UNITED STATES TRUSTEE OPERATING REQUIREMENTS FOR

THE PERIOD ENDED:  DECEMBER 31, 2004

            

IN RE:

      

:

CASE NO:  04-39157

  
       

:

Chapter 11

   
       

:

Judge:  Lawrence S. Walter

       

:

    

LAMAR SNOWBOARDS, INC. 

       
 

     Debtor

          
            

As debtor in possession, I affirm:

        
            

1.

That I have reviewed the financial statements attached hereto, consisting of:

  
 

 

Operating Statement

(Form 2)

   
 

 

Balance Sheet

(Form 3)

   
 

N/A

 

Summary of Operations

(Form 4)

   
 

N/A

 

Monthly Cash Statement

(Form 5)

   
 

N/A

 

Cash Report

(Form 5A)

   
 

N/A

 

Statement of Compensation

(Form 6)

   
 

 

Schedule of In-Force Insurance

(Form 7)

   

and that they have been prepared in accordance with normal and customary accounting

 

practices, and fairly and accurately reflect the debtor's financial activity for the period stated;

2.

That the insurance, including workers' compensation and unemployment insurance,

as described in Section 4 of the Reporting Requirements For Chapter 11 Cases is in effect; and,

(If not, attach a written explanation)

 

YES  √

  

NO

   

3.

That all postpetition taxes as described in Sections 1 and 14 of the Operating

 

Instructions and Reporting Requirements For Chapter 11 cases are current.

   

(If not, attach a written explanation)

 

YES  √

  

NO

   

4.

No professional fees (attorney, accountant, etc.) have been paid without specific

court authorization.

          

(If not, attach a written explanation)

 

YES  √

  

NO

   

5.

All United States Trustee Quarterly fees have been paid and are current.

  

6.

Have you filed your prepetition tax returns.

      

(If not, attach a written explanation)

 

YES  √

  

NO

   
            

I hereby certify, under penalty of perjury, that the information provided above and in the attached

documents is true and correct to the best of my information and belief.

   
            
 

Dated:  1/27/05

 

/s/ Robert W. Lafferty

 

  
     

(Debtor in Possession)

   
            
     

Senior V.P.-Finance, CFO & Treasurer

  
     

Title

   
            
     

(937) 865-5407

    
     

Phone

      
           

FORM 1











LAMAR SNOWBOARDS

   

OPERATING STATEMENT

   

PERIOD ENDING: DECEMBER 31, 2004

   
 

Case No: 04-39157

    

 

   

($000)

Totals

 

Totals

 

Current Month

 

Since Filing

Gross Sales

                          -   

 

                       -   

Net Sales

                          -   

 

                       -   

Adjusted Gross Profit

                          -   

 

                       -   

     % Net Sales

#DIV/0!

 

#DIV/0!

Total Selling Expenses

                          -   

 

                       -   

     % Net Sales

#DIV/0!

 

#DIV/0!

Other Product Line Expenses

                          -   

 

                       -   

     % Net Sales

#DIV/0!

 

#DIV/0!

Corporate Expenses, Net

                          -   

 

                       -   

Total Operating Expenses

                          -   

 

                       -   

     % Net Sales

#DIV/0!

 

#DIV/0!

Operating Income

                          -   

 

                       -   

     % Net Sales

#DIV/0!

 

#DIV/0!

Other (Income)/Expense

                          -   

 

                       -   

EBIT Excl. Restructuring

                          -   

 

                       -   

     % Net Sales

#DIV/0!

 

#DIV/0!

Restructuring & Other Expense

                          -   

 

                       -   

Interest Expense

                          -   

 

                       -   

Pre-Tax Income From Contin. Ops

                          -   

 

                       -   

Loss/(Gain) on Discontinued OPS

                          -   

 

                       -   

Pre-Tax

                          -   

 

                       -   

Provision for Taxes

0

 

349

Net Earnings

                          -   

 

                  (349)

    










LAMAR SNOWBOARDS

     

Case No: 04-39157

Balance Sheet

Current

 

Prior 

 

At  

  

Period Ending: December 31, 2004

Month 

 

Month

 

Filing

  
        

Total Cash

$0

 

$0

 

$0

  
        

Net Receivables

$0

 

$0

 

$0

  
        

Net Inventory

$0

 

$0

 

$0

  
        

Total Prepaids

$0

 

$0

 

$0

  
        

Net PP & E

$0

 

$0

 

$0

  
        

Goodwill-net of Amortization

$0

 

$0

 

$0

  
        

Other Assets

$0

 

$0

 

$349

  
        

Total Assets

$0

 

$0

 

$349

  
        

Liabilities & Equity

       
        

Post Petition Liabilities

       

Accounts Payable

$0

 

$0

 

$0

  

Wages & Salaries/Commissions

$0

 

$0

 

$0

  

Total Post Petition Liabilities

$0

 

$0

 

$0

  
        

Secured Liabilities

       

Subject to Post Petition

$0

 

$0

 

$0

  

Bank Debt

$0

 

$0

 

$0

  

All Other Secured Liabilities

$0

 

$0

 

$0

  
        

Total Secured Liabilities

$0

 

$0

 

$0

  
        

Prepetition Liabilities

       

Accounts Payable

$0

 

$0

 

$0

  

Other Current Liabilities

$0

 

$0

 

$0

  

Accrued Liabilities

$0

 

$0

 

$0

  

Mortgage/Notes & Capital Leases

$0

 

$0

 

$0

  

Salaried Pension

$0

 

$0

 

$0

  

Long Term Liabilities

$0

 

$0

 

$0

  

Intercompany Accounts with Huffy

$349

 

$349

 

$349

  
        

Liabilities Subject to Compromise

$349

 

$349

 

$349

  
        

Total Liabilities

$349

 

$349

 

$349

  
        

Shareholder's Equity

       

Owners Capital

$0

 

$0

 

$0

  

Pre Petition Retained Earnings

$0

 

$0

 

$0

  

Post Petition Retained Earnings

($349)

 

($349)

 

$0

  

Total Shareholder's Equity

($349)

 

($349)

 

$0

  
        

Total Liabilities & Equity

$0

 

$0

 

$349

  
        

Variance

$0

 

$0

 

$0

  

FORM 3










SCHEDULE OF IN-FORCE INSURANCE

Period Ending: DECEMBER 31, 2004


Case No. 04-39157


INSURANCE TYPE

 

CARRIER

 

EXPIRATION DATE

Workers’ Compensation

 

Commerce and Industry Ins. Co

 

7/1/05

General Business Policy

 

Lexington Ins. Co.

 

7/1/05

Directors & Officers Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Excess Directors & Officers Liability

 

Zurich Ins. Co.

 

1/5/05

Excess Directors & Officers Liability

 

National Union Fire Ins. Co.

 

1/1/05

Outside Directors Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Fiduciary Liability & Crime

 

Federal Ins. Co. (Chubb)

 

1/1/05

Employed Lawyers

 

Executive Risk Indemnity (Chubb)

 

1/1/05

Cargo & War

 

Fireman’s Fund Ins. Co.

 

7/1/05

General Liability

 

Lexington Ins. Co.

 

7/1/05

Automobile Liability

 

Progressive Preferred Ins. Co.

 

7/1/05

Worker’s Compensation (CA)

 

Commerce & Industry Ins. Co.

 

7/1/05

Excess Worker’s Compensation

 

Employers Reinsurance Corporation

 

7/1/05

Umbrella Liability

 

National Union fire Ins. Co. (AIG)

 

7/1/05

Property

 

American Guaranty & Liability

 

7/1/05

Excess California Earthquake

 

Clarendon/Empire/Glencoe

 

7/1/05

International Liability

 

ACE American Ins. Co.

 

7/1/05

Kidnap/Ransom

 

Federal Ins. Co. (Chubb)

 

8/15/05

Non-Owned Aircraft Liability

 

XL Specialty Ins. Co.

 

7/1/05

Pollution Legal Liability

 

American International Specialty Lines

 

1/6/10


xix.


FORM 7











TRANSMITTAL OF FINANCIAL REPORTS AND

CERTIFICATION OF COMPLIANCE WITH

UNITED STATES TRUSTEE OPERATING REQUIREMENTS FOR

THE PERIOD ENDED:  DECEMBER 31, 2004

            

IN RE:

      

:

CASE NO:  04-39158

  
       

:

Chapter 11

   
       

:

Judge:  Lawrence S. Walter

       

:

    

HUFCO-NEW BRUNSWICK, INC. 

       
 

     Debtor

          
            

As debtor in possession, I affirm:

        
            

1.

That I have reviewed the financial statements attached hereto, consisting of:

  
 

N/A

 

Operating Statement

(Form 2)

   
 

N/A

 

Balance Sheet

(Form 3)

   
 

N/A

 

Summary of Operations

(Form 4)

   
 

N/A

 

Monthly Cash Statement

(Form 5)

   
 

N/A

 

Cash Report

(Form 5A)

   
 

N/A

 

Statement of Compensation

(Form 6)

   
 

 

Schedule of In-Force Insurance

(Form 7)

   

and that they have been prepared in accordance with normal and customary accounting

 

practices, and fairly and accurately reflect the debtor's financial activity for the period stated;

2.

That the insurance, including workers' compensation and unemployment insurance,

as described in Section 4 of the Reporting Requirements For Chapter 11 Cases is in effect; and,

(If not, attach a written explanation)

 

YES  √

  

NO

   

3.

That all postpetition taxes as described in Sections 1 and 14 of the Operating

 

Instructions and Reporting Requirements For Chapter 11 cases are current.

   

(If not, attach a written explanation)

 

YES  √

  

NO

   

4.

No professional fees (attorney, accountant, etc.) have been paid without specific

court authorization.

          

(If not, attach a written explanation)

 

YES  √

  

NO

   

5.

All United States Trustee Quarterly fees have been paid and are current.

  

6.

Have you filed your prepetition tax returns.

      

(If not, attach a written explanation)

 

YES  √

  

NO

   
            

I hereby certify, under penalty of perjury, that the information provided above and in the attached

documents is true and correct to the best of my information and belief.

   
            
 

Dated:  1/27/05

 

/s/ Robert W. Lafferty

 

  
     

(Debtor in Possession)

   
            
     

Senior V.P.-Finance, CFO & Treasurer

  
     

Title

   
            
     

(937) 865-5407

    
     

Phone

      
           

FORM 1










SCHEDULE OF IN-FORCE INSURANCE

Period Ending: DECEMBER 31, 2004


Case No. 04-39158


INSURANCE TYPE

 

CARRIER

 

EXPIRATION DATE

Workers’ Compensation

 

Commerce and Industry Ins. Co

 

7/1/05

General Business Policy

 

Lexington Ins. Co.

 

7/1/05

Directors & Officers Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Excess Directors & Officers Liability

 

Zurich Ins. Co.

 

1/5/05

Excess Directors & Officers Liability

 

National Union Fire Ins. Co.

 

1/1/05

Outside Directors Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Fiduciary Liability & Crime

 

Federal Ins. Co. (Chubb)

 

1/1/05

Employed Lawyers

 

Executive Risk Indemnity (Chubb)

 

1/1/05

Cargo & War

 

Fireman’s Fund Ins. Co.

 

7/1/05

General Liability

 

Lexington Ins. Co.

 

7/1/05

Automobile Liability

 

Progressive Preferred Ins. Co.

 

7/1/05

Worker’s Compensation (CA)

 

Commerce & Industry Ins. Co.

 

7/1/05

Excess Worker’s Compensation

 

Employers Reinsurance Corporation

 

7/1/05

Umbrella Liability

 

National Union fire Ins. Co. (AIG)

 

7/1/05

Property

 

American Guaranty & Liability

 

7/1/05

Excess California Earthquake

 

Clarendon/Empire/Glencoe

 

7/1/05

International Liability

 

ACE American Ins. Co.

 

7/1/05

Kidnap/Ransom

 

Federal Ins. Co. (Chubb)

 

8/15/05

Non-Owned Aircraft Liability

 

XL Specialty Ins. Co.

 

7/1/05

Pollution Legal Liability

 

American International Specialty Lines

 

1/6/10


xix.


FORM 7











TRANSMITTAL OF FINANCIAL REPORTS AND

CERTIFICATION OF COMPLIANCE WITH

UNITED STATES TRUSTEE OPERATING REQUIREMENTS FOR

THE PERIOD ENDED:  DECEMBER 31, 2004

            

IN RE:

      

:

CASE NO:  04-39159

  
       

:

Chapter 11

   
       

:

Judge:  Lawrence S. Walter

       

:

    

HUFCO-GEORGIA II, INC. 

      
 

     Debtor

          
            

As debtor in possession, I affirm:

        
            

1.

That I have reviewed the financial statements attached hereto, consisting of:

  
 

N/A

 

Operating Statement

(Form 2)

   
 

N/A

 

Balance Sheet

(Form 3)

   
 

N/A

 

Summary of Operations

(Form 4)

   
 

N/A

 

Monthly Cash Statement

(Form 5)

   
 

N/A

 

Cash Report

(Form 5A)

   
 

N/A

 

Statement of Compensation

(Form 6)

   
 

 

Schedule of In-Force Insurance

(Form 7)

   

and that they have been prepared in accordance with normal and customary accounting

 

practices, and fairly and accurately reflect the debtor's financial activity for the period stated;

2.

That the insurance, including workers' compensation and unemployment insurance,

as described in Section 4 of the Reporting Requirements For Chapter 11 Cases is in effect; and,

(If not, attach a written explanation)

 

YES  √

  

NO

   

3.

That all postpetition taxes as described in Sections 1 and 14 of the Operating

 

Instructions and Reporting Requirements For Chapter 11 cases are current.

   

(If not, attach a written explanation)

 

YES  √

  

NO

   

4.

No professional fees (attorney, accountant, etc.) have been paid without specific

court authorization.

          

(If not, attach a written explanation)

 

YES  √

  

NO

   

5.

All United States Trustee Quarterly fees have been paid and are current.

  

6.

Have you filed your prepetition tax returns.

      

(If not, attach a written explanation)

 

YES  √

  

NO

   
            

I hereby certify, under penalty of perjury, that the information provided above and in the attached

documents is true and correct to the best of my information and belief.

   
            
 

Dated:  1/27/05

 

/s/ Robert W. Lafferty

 

  
     

(Debtor in Possession)

   
            
     

Senior V.P.-Finance, CFO & Treasurer

  
     

Title

   
            
     

(937) 865-5407

    
     

Phone

      
           

FORM 1










SCHEDULE OF IN-FORCE INSURANCE

Period Ending: DECEMBER 31, 2004


Case No. 04-39159


INSURANCE TYPE

 

CARRIER

 

EXPIRATION DATE

Workers’ Compensation

 

Commerce and Industry Ins. Co

 

7/1/05

General Business Policy

 

Lexington Ins. Co.

 

7/1/05

Directors & Officers Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Excess Directors & Officers Liability

 

Zurich Ins. Co.

 

1/5/05

Excess Directors & Officers Liability

 

National Union Fire Ins. Co.

 

1/1/05

Outside Directors Liability

 

Federal Ins. Co. (Chubb)

 

1/1/05

Fiduciary Liability & Crime

 

Federal Ins. Co. (Chubb)

 

1/1/05

Employed Lawyers

 

Executive Risk Indemnity (Chubb)

 

1/1/05

Cargo & War

 

Fireman’s Fund Ins. Co.

 

7/1/05

General Liability

 

Lexington Ins. Co.

 

7/1/05

Automobile Liability

 

Progressive Preferred Ins. Co.

 

7/1/05

Worker’s Compensation (CA)

 

Commerce & Industry Ins. Co.

 

7/1/05

Excess Worker’s Compensation

 

Employers Reinsurance Corporation

 

7/1/05

Umbrella Liability

 

National Union fire Ins. Co. (AIG)

 

7/1/05

Property

 

American Guaranty & Liability

 

7/1/05

Excess California Earthquake

 

Clarendon/Empire/Glencoe

 

7/1/05

International Liability

 

ACE American Ins. Co.

 

7/1/05

Kidnap/Ransom

 

Federal Ins. Co. (Chubb)

 

8/15/05

Non-Owned Aircraft Liability

 

XL Specialty Ins. Co.

 

7/1/05

Pollution Legal Liability

 

American International Specialty Lines

 

1/6/10


xix.


FORM 7











TRANSMITTAL OF FINANCIAL REPORTS AND

CERTIFICATION OF COMPLIANCE WITH

UNITED STATES TRUSTEE OPERATING REQUIREMENTS FOR

THE PERIOD ENDED:  DECEMBER 31, 2004

            

IN RE:

      

:

CASE NO:  04-39160

  
       

:

Chapter 11

   
       

:

Judge:  Lawrence S. Walter

       

:

    

HUFFY SPORTS OUTLET, INC.

 

       
 

     Debtor

          
            

As debtor in possession, I affirm:

        
            

1.

That I have reviewed the financial statements attached hereto, consisting of:

  
 

N/A

 

Operating Statement

(Form 2)

   
 

 

Balance Sheet

(Form 3)

   
 

N/A

 

Summary of Operations

(Form 4)

   
 

N/A

 

Monthly Cash Statement

(Form 5)

   
 

N/A

 

Cash Report

(Form 5A)

   
 

N/A

 

Statement of Compensation

(Form 6)

   
 

 

Schedule of In-Force Insurance

(Form 7)

   

and that they have been prepared in accordance with normal and customary accounting

 

practices, and fairly and accurately reflect the debtor's financial activity for the period stated;

2.

That the insurance, including workers' compensation and unemployment insurance,

as described in Section 4 of the Reporting Requirements For Chapter 11 Cases is in effect; and,

(If not, attach a written explanation)

 

YES  √

  

NO

   

3.

That all postpetition taxes as described in Sections 1 and 14 of the Operating

 

Instructions and Reporting Requirements For Chapter 11 cases are current.

   

(If not, attach a written explanation)

 

YES  √

  

NO

   

4.

No professional fees (attorney, accountant, etc.) have been paid without specific

court authorization.

          

(If not, attach a written explanation)

 

YES  √

  

NO

   

5.

All United States Trustee Quarterly fees have been paid and are current.

  

6.

Have you filed your prepetition tax returns.

      

(If not, attach a written explanation)

 

YES  √

  

NO

   
            

I hereby certify, under penalty of perjury, that the information provided above and in the attached

documents is true and correct to the best of my information and belief.

   
            
 

Dated:  1/27/05

 

/s/ Robert W. Lafferty

 

  
     

(Debtor in Possession)

   
            
     

Senior V.P.-Finance, CFO & Treasurer

  
     

Title

   
            
     

(937) 865-5407

    
     

Phone

      
           

FORM 1











HUFFY SPORTS OUTLET

     

Case No: 04-39160

Balance Sheet

Current

 

Prior

 

At

  

Period Ending: December 31, 2004

Month

 

Month

 

Filing

  
        

Total Cash

$0

 

$0

 

$0

  
        

Net Receivables

$0

 

$0

 

$0

  
        

Net Inventory

$0

 

$0

 

$0

  
        

Total Prepaids

$0

 

$0

 

$0

  
        

Net PP & E

$0

 

$0

 

$0

  
        

Goodwill-net of Amortization

$0

 

$0

 

$0

  
        

Other Assets

$0

 

$0

 

$0

  
        

Total Assets

$0

 

$0

 

$0

  
        

Liabilities & Equity

       
        

Post Petition Liabilities

       

Accounts Payable

$0

 

$0

 

$0

  

Wages & Salaries/Commissions

$0

 

$0

 

$0

  

Total Post Petition Liabilities

$0

 

$0

 

$0

  
        

Secured Liabilities

       

Subject to Post Petition

$0

 

$0

 

$0

  

Bank Debt

$0

 

$0

 

$0

  

All Other Secured Liabilities

$0

 

$0

 

$0

  
        

Total Secured Liabilities

$0

 

$0

 

$0

  
        

Prepetition Liabilities

       

Accounts Payable

$0

 

$0

 

$0

  

Other Current Liabilities

$0

 

$0

 

$0

  

Accrued Liabilities

$0

 

$0

 

$0

  

Mortgage/Notes & Capital Leases

$0

 

$0

 

$0

  

Salaried Pension

$0

 

$0

 

$0

  

Long Term Liabilities

$0

 

$0

 

$0

  

Intercompany Liabilities

($32)

 

($32)

 

($32)

  
        

Liabilities Subject to Compromise

($32)

 

($32)

 

($32)

  
        

Total Liabilities

($32)

 

($32)

 

($32)

  
        

Shareholder's Equity

       

Owners Capital

$0

 

$0

 

$0

  

Pre Petition Retained Earnings

$32

 

$32

 

$32

  

Post Petition Retained Earnings

$0

 

$0

 

$0

  

Total Shareholder's Equity

$32

 

$32

</