EX-99.1 2 dex991.htm FINANCIAL STATEMENTS Financial Statements

 

EXHIBIT 99.1

 

UNITED STATES BANKRUPTCY COURT

DISTRICT OF NEW HAMPSHIRE

 

In re    Robotic Vision Systems, Inc.    Case No.    04-14151-JMD
          Reporting Period    Nov. 30, 2004

 

MONTHLY OPERATING REPORT

Complete and submit to the United States Trustee within 15 days after end of month

 

Submit copy of report to any official committee appointed in the case

 

REQUIRED DOCUMENTS


   Form No.

  

Document

Attached


  

Explanation

Attached


Monthly Reporting Questionnaire

   MOR-1    X     

Schedule of Cash Receipts and Disbursements

   MOR-2    X     

Copies of Debtor’s Bank Reconciliations

        X     

Copies of Debtor’s Bank Statements

        X     

Copies of Cash Disbursements Journals

        X     

Statement of Operations

   MOR-3    X     

Balance Sheet

   MOR-4    X     

Schedule of Post-Petition Liabilities

   MOR-5    X     

Copies of IRS Form 6123 or payment receipts

        N/A     

Copies of tax returns filed during reporting period

        N/A     

Detailed listing of aged accounts payables

        X     

Accounts Receivable Reconciliation and Aging

   MOR-6    X     

 

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and all attachments are true and correct to the best of my knowledge and belief.

 

/S/    FREDERICK H. VAN ALSTYNE               12/30/2004

Signature of Debtor

     

Date

           

Signature of Joint Debtor

     

Date

/S/    FREDERICK H. VAN ALSTYNE               12/30/2004

Signature of Authorized Individual*

     

Date

Frederick H. Van Alstyne

      CFO

Printed Name of Authorized Individual

     

Title of Authorized Individual

 

* Authorized individual must be an officer, director or shareholder if the debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.

 

COVER PAGE

9/04

 


 

Robotic Vision Systems, Inc.    Case No.    04-14151-JMD
Debtor    Reporting Period    Nov. 30, 2004

 

MONTHLY REPORTING QUESTIONNAIRE

 

Must be completed each month


   Yes

   No

1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below.         X
2. Have any funds been disbursed from any account other than a debtor-in-possession account this reporting period? If yes, provide an explanation below.         X
3. Have any payments been made on pre-petition debt, other than payments in the normal course to secured creditors or lessors? If yes, attach listing including date of payment, amount of payment, and name of payee.    X     
4. Have any payments been made to professionals? If yes, attach listing including date of payment, amount of payment, and name of payee.         X
5. If the answer to question 1 and/or 2 is yes, were all such payments approved by the Court?    N/A     
6. Have any payments been made to officers, insiders, shareholders, or relatives? If yes, attach listing including date of payment, amount and reason for payment, and name of payee.         X
7. Have all postpetition tax returns been timely filed? If no, provide an explanation below.    N/A     
8. Is the estate current on the payment of post-petition taxes?    X     
9. Is the estate insured for the replacement cost of assets and for general liability? If no, provide an explanation below.    X     
10. Is workers’ compensation insurance in effect?    X     
11. Have all current insurance payments been made? Attach copies of all new and renewed insurance policies.    X     
12. Are a plan and disclosure statement on file?         X
13. Was there any post-petition borrowing during this reporting period?         X

 

____________________________________________

 

____________________________________________

____________________________________________

____________________________________________

 

MOR-1

9/04

 


 

Robotic Vision Systems, Inc.    Case No.    04-14151-JMD
Debtor    Reporting Period    Nov. 30, 2004

 

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

 

Amounts reported should be per the debtor’s books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page.

 

A bank reconciliation must be attached for each account.

 

     BANK ACCOUNTS

(IN THOUSANDS)


   Operational

   Payroll

   Tax

   Other

   Total

CASH BEGINNING OF MONTH

   166                   166

RECEIPTS

                        

CASH SALES

   —                     —  

ACCOUNTS RECEIVABLE

   1,447                   1,447

LOANS AND ADVANCES

   —                     —  

SALE OF ASSETS

   —                     —  

OTHER (ATTACH LIST)

   —                     —  

TRANSFERS (FROM DIP ACCTS)

   —                     —  
    
                 

TOTAL RECEIPTS

   1,447                   1,447
    
                 

DISBURSEMENTS

                        

NET PAYROLL

   89                   89

PAYROLL TAXES

   32                   32

SALES, USE & OTHER TAXES

   —                     —  

INVENTORY PURCHASES

   —                     —  

SECURED/RENTAL/LEASES

   —                     —  

INSURANCE

   —                     —  

ADMINISTRATIVE

   9                   9

SELLING

   —                     —  

OTHER (ATTACH LIST)

   —                     —  

OWNER DRAW *

   —                     —  

TRANSFERS (TO DIP ACCTS)

   —                     —  

PROFESSIONAL FEES

   —                     —  

U.S. TRUSTEE QUARTERLY FEES

   —                     —  

COURT COSTS

   —                     —  
    
                 

TOTAL DISBURSEMENTS

   130                   130
    
                 

NET CASH FLOW (RECEIPTS LESS DISBURSEMENTS)

   1,317                   1,317
    
                 

CASH - END OF MONTH

   1,483                   1,483
    
                 

 

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

 

THE FOLLOWING SECTION MUST BE COMPLETED

 

DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES:

    

TOTAL DISBURSEMENTS

   130

LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS

    

PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)

    
    

TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES

   130
    

 

MOR-2

9/04

 


 

Robotic Vision Systems, Inc.    Case No.    04-14151-JMD
Debtor    Reporting Period    Nov. 30, 2004

 

STATEMENT OF OPERATIONS (IN THOUSANDS)

(Income Statement)

 

The Statement of Operations is to be prepared on an accrual basis. The accrual basis of accounting recognizes revenue when it is realized and expenses when they are incurred, regardless of when cash is actually received or paid.

 

     Month

   

Cumulative

Filing to Date


 

REVENUES

            

Gross Revenues

   405     405  

Less: Returns and Allowances

   —       —    
    

 

Net Revenue

   405     405  
    

 

COST OF GOODS SOLD

            

Beginning Inventory

   3,344     3,344  

Add: Purchases

   16     16  

Add: Cost of Labor

   12     12  

Add: Other Costs (attach schedule)

   217     217  

Less: Ending Inventory

   3,201     3,201  

Cost of Goods Sold

   388     388  
    

 

Gross Profit

   17     17  
    

 

OPERATING EXPENSES

            

Advertising

   6     6  

Auto and Truck Expense

   —       —    

Bad Debts

   14     14  

Contributions

   —       —    

Employee Benefits Programs

   32     32  

Insider Compensation*

   —       —    

Insurance

   33     33  

Management Fees/Bonuses

   —       —    

Office Expense

   12     12  

Pension & Profit-Sharing Plans

   —       —    

Repairs and Maintenance

   (10 )   (10 )

Rent and Lease Expense

   55     55  

Salaries/Commissions/Fees

   329     329  

Supplies

   (4 )   (4 )

Taxes - Payroll

   1     1  

Taxes - Real Estate

   —       —    

Taxes - Other

   —       —    

Travel and Entertainment

   17     17  

Utilities

   4     4  

Other (attach schedule)

   (2 )   (2 )

Total Operating Expenses Before Depreciation

   487     487  

Depreciation/Depletion/Amortization

   22     22  
    

 

Net Profit (Loss) Before Other Income & Expenses

   (492 )   (492 )
    

 

OTHER INCOME AND EXPENSES

            

Other Income (attach schedule)

   —       —    

Interest Expense

   156     156  

Other Expense (attach schedule)

   —       —    
    

 

Net Profit (Loss) Before Reorganization Items

   (648 )   (648 )
    

 

REORGANIZATION ITEMS

            

Professional Fees

   —       —    

U.S. Trustee Quarterly Fees

   —       —    

Interest Earned on Accumulated Cash from Chapter 11 (see continuation sheet)

   —       —    

Gain(Loss) from Sale of Equipment

   —       —    

Other Reorganization Expenses (attach schedule)

   —       —    

Total Reorganization Expenses

   —       —    

Income Taxes

   —       —    
    

 

Net Profit(Loss)

   (648 )   (648 )
    

 

 

* “Insider” is defined in 11 U.S.C. Section 101(31).

 

MOR-3

9/04

 


 

Robotic Vision Systems, Inc.    Case No.    04-14151-JMD
Debtor    Reporting Period    Nov. 30, 2004

 

STATEMENT OF OPERATIONS (IN THOUSANDS) - continuation sheet

 

BREAKDOWN OF “OTHER” CATEGORY


   Month

   

Cumulative

Filing to Date


 

Other Costs

            

Overhead portion of cost of sales

   217     217  

Other Operational Expenses

            

cap software adds-reduction to R&D expense

   (16 )   (16 )

various

   (2 )   (2 )

Audit accrual

   14     14  

Consulting accrual

   2     2  

Other Income

            

Other Expenses

            

Other Reorganization Expenses

            

 

Reorganization Items - Interest Earned on Accumulated Cash from Chapter 11:

 

Interest earned on cash accumulated during the chapter 11 case, which would not have been earned but for the bankruptcy proceeding, should be reported as a reorganization item.

 

MOR-3

9/04

 


 

Robotic Vision Systems, Inc.    Case No.    04-14151-JMD
Debtor    Reporting Period    Nov. 30, 2004

 

BALANCE SHEET (IN THOUSANDS)

 

The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from postpetition obligations.

 

ASSETS


   BOOK VALUE AT END OF
CURRENT REPORTING MONTH


    BOOK VALUE ON
PETITION DATE


 

CURRENT ASSETS

            

Unrestricted Cash and Equivalents

   1,484     166  

Restricted Cash and Cash Equivalents

   —       —    

Accounts Receivable (Net)

   8,931     10,056  

Notes Receivable

   —       —    

Inventories

   10,656     10,758  

Prepaid Expenses

   1,019     1,115  

Professional Retainers

   —       —    

Other Current Assets (attach schedule)

   —       —    
    

 

TOTAL CURRENT ASSETS

   22,090     22,095  
    

 

PROPERTY AND EQUIPMENT

            

Real Property and Improvements

   —       —    

Machinery and Equipment

   5,853     6,843  

Furniture, Fixtures and Office Equipment

   6,132     5,246  

Leasehold Improvements

   2,621     2,621  

Vehicles

   —       —    

Less Accumulated Depreciation

   (11,901 )   (11,879 )
    

 

TOTAL PROPERTY & EQUIPMENT

   2,705     2,831  
    

 

OTHER ASSETS

            

Loans to Insiders

   —       —    

Other Assets (attach schedule)

   26,152     26,345  
    

 

TOTAL OTHER ASSETS

   26,152     26,345  
    

 

TOTAL ASSETS

   50,947     51,271  
    

 

LIABILITIES AND OWNER EQUITY


   BOOK VALUE AT END OF
CURRENT REPORTING MONTH


    BOOK VALUE ON
PETITION DATE


 

LIABILITIES NOT SUBJECT TO COMPROMISE (Post-Petition)

            

Accounts Payable

   51     —    

Taxes Payable (refer to …)

   —       —    

Wages Payable

   229     —    

Notes Payable

   —       —    

Rent/ Leases - Building /Equipment

   —       —    

Secured Debt / Adequate Protection Payments

   —       —    

Professional Fees

   —       —    

Amounts Due to Insiders

   —       —    

Other Postpetition Liabilities (attach schedule)

   3     —    
    

 

TOTAL POST-PETITION LIABILITIES

   283     —    
    

 

LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)

            

Secured Debt

   15,883     15,883  

Priority Debt

   —       —    

Unsecured Debt

   13,342     13,301  

Unsecured Debt Payable to subsidiaries

   8,147     8,147  

Subsidiaries Investment

   16,699     16,699  
    

 

TOTAL PRE-PETITION LIABILITIES

   54,071     54,030  
    

 

TOTAL LIABILITIES

   54,354     54,030  
    

 

OWNER EQUITY

            

Capital Stock

   214     214  

Additional Paid-In Capital

   317,116     317,116  

Partners’ Capital Account

   —       —    

Owner’s Equity Account

   —       —    

Retained Earnings - Pre-Petition

   (318,775 )   (318,775 )

Retained Earnings - Postpetition

   (648 )   —    

Adjustments to Owner Equity (attach schedule)

   (1,314 )   (1,314 )

Post-Petition Contributions (Distributions) (Draws)

   —       —    

Net Owner Equity

   (3,407 )   (2,759 )
    

 

TOTAL LIABILITIES AND OWNERS’ EQUITY

   50,947     51,271  
    

 

 

Insider is defined in 11 U.S.C. Section 101(31)

 

MOR-4

9/04

 


 

Robotic Vision Systems, Inc.    Case No.    04-14151-JMD
Debtor    Reporting Period    Nov. 30, 2004

 

BALANCE SHEET (IN THOUSANDS) - Continuation Sheet

 

ASSETS


   BOOK VALUE AT END OF
CURRENT REPORTING MONTH


    BOOK VALUE ON
PETITION DATE


 

Other Current Assets

            
              
              
              

Other Assets

            

Capitalized software

   3,639     3,684  

Patents

   204     202  

Deposits

   153     153  

Employee Loans

         2  

Other Non Current Assets

   620     620  

Loan refinance closing cost

   5,165     5,313  

Goodwill

   990     990  

Investment in subsidiaries

   15,381     15,381  
    

 

Total

   26,152     26,345  
    

 

LIABILITIES AND OWNER EQUITY


   BOOK VALUE AT END OF
CURRENT REPORTING MONTH


    BOOK VALUE ON
PETITION DATE


 

Other Postpetition Liabilities

            

Received not invoiced

   3        
              
              
              

Adjustments to Owner Equity

            

Minimum pension obligation

   (584 )   (584 )

Cumulative Translation Adjustment

   (731 )   (731 )
              

 

Postpetition Contributions (Distributions) (Draws)

 

Restricted Cash: cash that is restricted for a specific use and not available to fund operations.

Typically, restricted cash is segregated into a separate account, such as an escrow account.

 

MOR-4

9/04

 


 

Robotic Vision Systems, Inc.    Case No.    04-14151-JMD
Debtor    Reporting Period    Nov. 30, 2004

 

STATUS OF POST-PETITION TAXES

 

The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero. Attach photocopies of IRS Form 6123 and all applicable state and local forms and/or all federal, state, and local payment receipts to verify payment of taxes. Attach photocopies of any tax returns filed during the reporting period.

 

     Beginning
Tax
Liability


   Amount
Withheld or
Accrued


   Amount
Paid


   Date
Paid


   Check No. or
EFT


   Ending
Tax
Liability


 

Federal

                               

Income Tax Withholding

   —      14,972    14,972    12/3/04    Filed by ADP    —    

FICA-Employee

   —      7,185    7,185    12/3/04    Filed by ADP    —    

FICA-Employer

   —      7,185    7,185    12/3/04    Filed by ADP    (0 )

Unemployment

   —      22    22    12/3/04    Filed by ADP    —    

Income

   —      —      —      —           —    

Other:

   —      —      —      —           —    
    
  
  
            

Total Federal Taxes

   —      29,365    29,365              (0 )
    
  
  
            

State and Local

                               

Income Tax Withholding

   —      2,336    2,336              —    

Sales

   —      —      —                —    

Excise

   —      —      —                —    

Unemployment

   —      157    157              —    

Real Property

   —      —      —                —    

Personal Property

   —      —      —                —    

Other:

   —      —      —                —    
    
  
  
            

Total State and Local

   —      2,494    2,494              —    
    
  
  
            

Withholding for Employee Healthcare

   —      19,120    —                19,120  

Premiums, Pensions & Other Benefits

   —      42,306    —                42,306  
    
  
  
            

Total Taxes

   —      63,919    2,494              61,426  
SUMMARY OF UNPAID POST-PETITION DEBTS (IN THOUSANDS)  

Attach aged listing of accounts payables

                               
     Number of Days Past Due

 
     Current

   0-30

   31-60

   61-90

   Over 90

   Total

 

Accounts Payable

   51    —      —      —      —      51  

Wages Payable

   302    —      —      —      —      302  

Taxes Payable

   —      —      —      —      —      —    

Rent/Leases-Building

   —      —      —      —      —      —    

Rent/Leases-Equipment

   —      —      —      —      —      —    

Secured Debt/Adequate Protection Payments

   —      —      —      —      —      —    

Professional Fees

   —      —      —      —      —      —    

Amounts Due to Insiders*

   —      —      —      —      —      —    

Other:

   —      —      —      —      —      —    

Other:

   —      —      —      —      —      —    
    
  
  
  
  
  

Total Postpetition Debts

   353    —      —      —      —      353  
    
  
  
  
  
  

 

Explain how and when the Debtor Intends to pay any past-due post petition debts.

_________________________________________________________________________________

_________________________________________________________________________________

_________________________________________________________________________________

_________________________________________________________________________________

 

* “Insider” is defined in 11 U.S.C. Section 101(31).

 

MOR-5

9/04

 


 

Robotic Vision Systems, Inc.    Case No.    04-14151-JMD
Debtor    Reporting Period    Nov. 30, 2004

 

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING (IN THOUSANDS)

 

ACCOUNTS RECEIVABLE RECONCILIATION


   Amount

 

Total Accounts Receivable at the beginning of the reporting period

   10,715  

+ Amounts billed during the period

   328  

- Amounts collected during the period

   1,453  
    

Total Accounts Receivable at the end of the reporting period

   9,590  
    

Accounts Receivable Aging


   Amount

 

0 - 30 days old

   3,389  

31 - 60 days old

   918  

61 - 90 days old

   1,986  

91 + days old

   3,297  
    

Total Accounts Receivable

   9,590  
    

Amount considered uncollectible (Bad Debt)

   (659 )
    

Accounts Receivable (Net)

   8,931  
    

 

MOR-6

9/04

 


 

November Monthly Operating Report

Robotic Vision Systems, Inc.

 

Prepetition Payroll

   $126,027.16

 


 

UNITED STATES BANKRUPTCY COURT

DISTRICT OF NEW HAMPSHIRE

 

In re    Auto Image ID, Inc.    Case No.    04-14151-JMD
          Reporting Period    Nov. 30, 2004

 

MONTHLY OPERATING REPORT

Complete and submit to the United States Trustee within 15 days after end of month

 

Submit copy of report to any official committee appointed in the case

 

REQUIRED DOCUMENTS


   Form No.

  

Document

Attached


   Explanation
Attached


Monthly Reporting Questionnaire

   MOR-1    X     

Schedule of Cash Receipts and Disbursements

   MOR-2    X     

Copies of Debtor’s Bank Reconciliations

        N/A     

Copies of Debtor’s Bank Statements

        N/A     

Copies of Cash Disbursements Journals

        N/A     

Statement of Operations

   MOR-3    X     

Balance Sheet

   MOR-4    X     

Schedule of Post-Petition Liabilities

   MOR-5    X     

Copies of IRS Form 6123 or payment receipt

        N/A     

Copies of tax returns filed during reporting period

        N/A     

Detailed listing of aged accounts payables

        N/A     

Accounts Receivable Reconciliation and Aging

   MOR-6    X     

 

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and all attachments are true and correct to the best of my knowledge and belief.

 

/S/    FREDERICK H. VAN ALSTYNE                12/30/2004

Signature of Debtor

     

Date

           

Signature of Joint Debtor

     

Date

/S/    FREDERICK H. VAN ALSTYNE               12/30/2004

Signature of Authorized Individual*

     

Date

Frederick H. Van Alstyne

      CFO

Printed Name of Authorized Individual

     

Title of Authorized Individual

 

* Authorized individual must be an officer, director or shareholder if the debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.

 

COVER PAGE

9/04

 


 

Auto Image ID, Inc.    Case No.    04-14151-JMD
Debtor    Reporting Period    Nov. 30, 2004

 

MONTHLY REPORTING QUESTIONNAIRE

 

Must be completed each month


   Yes

   No

1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below.         X
2. Have any funds been disbursed from any account other than a debtor-in-possession account this reporting period? If yes, provide an explanation below.         X
3. Have any payments been made on pre-petition debt, other than payments in the normal course to secured creditors or lessors? If yes, attach listing including date of payment, amount of payment, and name of payee.         X
4. Have any payments been made to professionals? If yes, attach listing including date of payment, amount of payment, and name of payee.         X
5. If the answer to question 3 and/or 4 is yes, were all such payments approved by the Court?    N/A     
6. Have any payments been made to officers, insiders, shareholders, or relatives? If yes, attach listing including date of payment, amount and reason for payment, and name of payee.         X
7. Have all postpetition tax returns been timely filed? If no, provide an explanation below.    N/A     
8. Is the estate current on the payment of post-petition taxes?    X     
9. Is the estate insured for the replacement cost of assets and for general liability? If no, provide an explanation below.    X     
10. Is workers’ compensation insurance in effect?    N/A     
11. Have all current insurance payments been made? Attach copies of all new and renewed insurance policies.    X     
12. Are a plan and disclosure statement on file?         X
13. Was there any post-petition borrowing during this reporting period?         X

 

____________________________________________

____________________________________________

____________________________________________

____________________________________________

____________________________________________

 

MOR-1

9/04

 


 

Auto Image ID, Inc.    Case No.    04-14151-JMD
Debtor    Reporting Period    Nov. 30, 2004

 

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

 

Amounts reported should be per the debtor’s books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page.

 

A bank reconciliation must be attached for each account.

 

     BANK ACCOUNTS

     Operational

   Payroll

   Tax

   Other

   Total

CASH BEGINNING OF MONTH

                        

RECEIPTS

                        

CASH SALES

   NONE                    

ACCOUNTS RECEIVABLE

                        

LOANS AND ADVANCES

                        

SALE OF ASSETS

                        

OTHER (ATTACH LIST)

                        

TRANSFERS (FROM DIP ACCTS)

                        

TOTAL RECEIPTS

                        

DISBURSEMENTS

                        

NET PAYROLL

                        

PAYROLL TAXES

                        

SALES, USE & OTHER TAXES

                        

INVENTORY PURCHASES

                        

SECURED/RENTAL/LEASES

                        

INSURANCE

                        

ADMINISTRATIVE

                        

SELLING

                        

OTHER (ATTACH LIST)

                        

OWNER DRAW*

                        

TRANSFERS (TO DIP ACCTS)

                        

PROFESSIONAL FEES

                        

U.S. TRUSTEE QUARTERLY FEES

                        

COURT COSTS

                        

TOTAL DISBURSEMENTS

                        

NET CASH FLOW

                        

(RECEIPTS LESS DISBURSEMENTS)

                        

CASH - END OF MONTH

                        

 

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

 

THE FOLLOWING SECTION MUST BE COMPLETED

 

DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES:

    

TOTAL DISBURSEMENTS

   0

LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS

   0

PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)

   0
    

TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES

   0
    

 

MOR-2

9/04

 


 

Auto Image ID, Inc.    Case No.    04-14151-JMD
Debtor    Reporting Period    Nov. 30, 2004

 

STATEMENT OF OPERATIONS (IN THOUSANDS)

(Income Statement)

 

The Statement of Operations is to be prepared on an accrual basis. The accrual basis of accounting recognizes revenue when it is realized and expenses when they are incurred, regardless of when cash is actually received or paid.

 

     Month

   

Cumulative

Filing to Date


 

REVENUES

            

Gross Revenues

            

Less: Returns and Allowances

            

Net Revenue

            

COST OF GOODS SOLD

            

Beginning Inventory

            

Add: Purchases

            

Add: Cost of Labor

            

Add: Other Costs (attach schedule)

            

Less: Ending Inventory

            

Cost of Goods Sold

            

Gross Profit

            

OPERATING EXPENSES

            

Advertising

            

Auto and Truck Expense

            

Bad Debts

            

Contributions

            

Employee Benefits Programs

            

Insider Compensation*

            

Insurance

            

Management Fees/Bonuses

            

Office Expense

            

Pension & Profit-Sharing Plans

            

Repairs and Maintenance

            

Rent and Lease Expense

            

Salaries/Commissions/Fees

            

Supplies

            

Taxes - Payroll

            

Taxes - Real Estate

            

Taxes - Other

            

Travel and Entertainment

            

Utilities

            

Other (attach schedule)

            

Total Operating Expenses Before Depreciation

            

Depreciation/Depletion/Amortization

            

Net Profit(Loss) Before Other Income & Expenses

            

OTHER INCOME AND EXPENSES

            

Other Income (attach schedule)

            

Interest Expense

   24     24  

Other Expense (attach schedule)

            
    

 

Net Profit (Loss) Before Reorganization Items

   (24 )   (24 )
    

 

REORGANIZATION ITEMS

            

Professional Fees

            

U.S. Trustee Quarterly Fees

            

Interest Earned on Accumulated Cash from Chapter 11 (see continuation sheet)

            

Gain (Loss) from Sale of Equipment

            

Other Reorganization Expenses (attach schedule)

            

Total Reorganization Expenses

            

Income Taxes

            

Net Profit(Loss)

            

 

* “Insider” is defined in 11 U.S.C. Section 101(31).

 

MOR-3

9/04

 


 

Auto Image ID, Inc.    Case No.    04-14151-JMD
Debtor    Reporting Period    Nov. 30, 2004

 

STATEMENT OF OPERATIONS (IN THOUSANDS) - continuation sheet

 

BREAKDOWN OF “OTHER” CATEGORY


   Month

   Cumulative
Filing to Date


Other Costs

         

Other Operational Expenses

         

Other Income

         

Other Expenses

         

Other Reorganization Expenses

         

 

Reorganization Items - Interest Earned on Accumulated Cash from Chapter 11:

 

Interest earned on cash accumulated during the chapter 11 case, which would not have been earned but for the bankruptcy proceeding, should be reported as a reorganization item.

 

MOR-3

9/04

 


 

Auto Image ID, Inc.    Case No.    04-14151-JMD
Debtor    Reporting Period    Nov. 30, 2004

 

BALANCE SHEET (IN THOUSANDS)

 

The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from postpetition obligations.

 

ASSETS


   BOOK VALUE AT END OF
CURRENT REPORTING MONTH


    BOOK VALUE ON
PETITION DATE


 

CURRENT ASSETS

            

Unrestricted Cash and Equivalents

            

Restricted Cash and Cash Equivalents

            

Accounts Receivable (Net)

            

Notes Receivable

            

Inventories

            

Prepaid Expenses

            

Professional Retainers

            

Other Current Assets (attach schedule)

            
    

 

TOTAL CURRENT ASSETS

   —       —    
    

 

PROPERTY AND EQUIPMENT

            

Real Property and Improvements

            

Machinery and Equipment

            

Furniture, Fixtures and Office Equipment

            

Leasehold Improvements

            

Vehicles

            

Less Accumulated Depreciation

            

TOTAL PROPERTY & EQUIPMENT

         —    
          

OTHER ASSETS

            

Loans to insiders

            

Other Assets (attach schedule)

   839     839  
    

 

TOTAL OTHER ASSETS

   839     839  
    

 

TOTAL ASSETS

   839     839  
    

 

LIABILITIES AND OWNER EQUITY


   BOOK VALUE AT END OF
CURRENT REPORTING MONTH


    BOOK VALUE ON
PETITION DATE


 

LIABILITIES NOT SUBJECT TO COMPROMISE (Post-Petition)

 

Accounts Payable

            

Taxes Payable (refer to ... )

            

Wages Payable

            

Notes Payable

   24        

Rent / Leases – Building/Equipment

            

Secured Debt / Adequate Protection Payments

            

Professional Fees

            

Amounts Due to Insiders

            

Other Postpetition Liabilities (attach schedule)

            
    

 

TOTAL POST-PETITION LIABILITIES

   24     —    
    

 

LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)

 

Secured Debt

            

Priority Debt

            

Unsecured Debt

   9,534     9,534  
    

 

TOTAL PRE-PETITION LIABILITIES

   9,534     9,534  
    

 

TOTAL LIABILITIES

   9,558     9,534  
    

 

OWNER EQUITY

            

Capital Stock

            

Additional Paid-In-Capital

            

Partners’ Capital Account

            

Owner’s Equity Account

            

Retained Earnings - Pre-Petition

   (8,695 )   (8,695 )

Retained Earnings - Postpetition

   (24 )      

Adjustments to Owner Equity (attach schedule)

            

Post-Petition Contributions (Distributions) (Draws ) (attach schedule)

            
    

 

Net Owner Equity

   (8,719 )   (8,695 )
    

 

TOTAL LIABILITIES AND OWNERS’ EQUITY

   839     839  
    

 

 

Insider is defined in 11 U.S.C. Section 101(31)

 

MOR-4

9/04

 


 

Auto Image ID, Inc.    Case No.    04-14151-JMD
Debtor    Reporting Period    Nov. 30, 2004

 

BALANCE SHEET (IN THOUSANDS) – continuation sheet

 

ASSETS


   BOOK VALUE AT END OF
CURRENT REPORTING MONTH


   BOOK VALUE ON
PETITION DATE


           

Other Current Assets

         
           
           
           

Other Assets

         

Goodwill

   343    343

Technology

   496    496

LIABILITIES AND OWNER EQUITY


   BOOK VALUE AT END OF
CURRENT REPORTING MONTH


   BOOK VALUE ON
PETITION DATE


           

Other Postpetition Liabilities

         
           

Adjustments to Owner Equity

         
           
           
           

 

Postpetition Contributions (Distributions) (Draws)

 

Restricted Cash: cash that is restricted for a specific use and not available to fund operations.

Typically, restricted cash is segregated into a separate account, such as an escrow account.

 

MOR-4

9/04

 


 

Auto Image ID, Inc.    Case No.    04-14151-JMD
Debtor    Reporting Period    Nov. 30, 2004

 

STATUS OF POST – PETITION TAXES

 

The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero. Attach photocopies of IRS Form 6123 and all applicable state and local forms and/or all federal, state, and local payment receipts to verify payment of taxes. Attach photocopies of any tax returns filed during the reporting period.

 

     Beginning
Tax
Liability


   Amount
Withheld
or
Accrued


   Amount
Paid


   Date
Paid


   Check No.
or EFT


   Ending
Tax
Liability


Federal

                             

Income Tax Withholding

                             

FICA-Employee

                             

FICA-Employer

                             

Unemployment

                             

Income

                             

Other:

                             

Total Federal Taxes

                             

State and Local

                             

Income Tax Withholding

                             

Sales

                             

Excise

                             

Unemployment

                             

Real Property

                             

Personal Property

                             

Other:

                             

Total State and Local

                             

Withholding for Employee Healthcare

                             

Premiums, Pensions & Other Benefits

                             

Total Taxes

                             

SUMMARY OF UNPAID POST-PETITION DEBTS

Attach aged listing of accounts payables                              
     Number of Days Past Due

     Current

   0-30

   31-60

   61-90

   Over 90

   Total

Accounts Payable

                             

Wages Payable

                             

Taxes Payable

                             

Rent/Leases-Building

                             

Rent/Leases-Equipment

                             

Secured Debt/Adequate Protection Payments

                             

Professional Fees

                             

Amounts Due to Insiders*

                             

Other:

                             

Other:

                             

Total Postpetition Debts

                             

 

Explain how and when the Debtor intends to pay any past-due post-petition debts.

_______________________________________________________________________________

_______________________________________________________________________________

_______________________________________________________________________________

_______________________________________________________________________________

 

* “Insider” is defined in 11 U.S.C. Section 101(31).

 

MOR-5

9/04

 


 

Auto Image ID, Inc.    Case No.    04-14151-JMD
Debtor    Reporting Period    Nov. 30, 2004

 

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING (IN THOUSANDS)

 

ACCOUNTS RECEIVABLE RECONCILIATION


   Amount

Total Accounts Receivable at the beginning of the reporting period

   0

+ Amounts billed during the period

    

- Amounts collected during the period

    
    

Total Accounts Receivable at the end of the reporting period

   0
    

ACCOUNTS RECEIVABLE AGING


   Amount

0 - 30 days old

    

31 - 60 days old

    

61 - 90 days old

    

91 + days old

    
    

Total Accounts Receivable

   0
    

Amount considered uncollectible (Bad Debt)

    
    

Accounts Receivable (Net)

   0
    

 

MOR-6

9/04