In re  Farmland Pipe Line, Inc.			Case No. 02-50565
	MONTHLY OPERATING REPORT SUMMARY
	FOR THE MONTH OF JULY, 2003
	REVENUE
	Gross Income		$                   -
	Less Cost of Goods Sold		$       (30,825.48)
	Materials	$                   -
	Direct Labor	$                   -
	Overhead	$       (30,825.48)
	Gross Profit		$        30,825.48
	OPERATING EXPENSES
	Owner/Officer-Draws/Salaries	$                   -
	Other Employee Salaries	$                   -
	Advertising and Marketing	$                   -
	Insurance	$                   -
	Payroll Taxes	$                   -
	Lease and Rent	$                   -
	Telephone and Utlities	$                   -
	Attorney and other Professional Fees	$                   -
	UST Quarterly Fees	$          3,750.00
	Other Expenses-includes income tax expense and other income	$        12,330.19
	Total Operating Expenses		$        16,080.19
	Net Income (Loss)		$        14,745.29
	CURRENT ASSETS
	Accounts Receivable at end of month		$      162,051.94
	Increase (Decrease) in AR for month		$         (2,528.74)
	Inventory at end of month		$                   -
	Increase (Decrease) in Inventory for month		$                   -
	Cash at end of the month		$                   -
	Increase (Decrease) in Cash for month		$                   -
	LIABILITIES
	Increase (Decrease) in pre-petition debt		$                   -
	Increase (Decrease) in post-petition debt		$        10,433.64
	Taxes Payable:
	Federal Payroll Taxes	$                   -
	State Payroll Taxes	$                   -
	Local Payroll Taxes	$                   -
	State Sales Taxes	$                   -
	Real Estate and Personal	$                   -
	Property Taxes	$                   -
	Other (footnote)	$     (533,416.08)
	Total Taxes Payable		$     (533,416.08)
	Footnote:
	Fed Income Tax (Pre)	$     (336,732.38)
	Fed Income Tax (Post)	$     (196,683.70)