EX-99.3 5 leasejan.txt JANUARY MORS FOR DATACOMM LEASING UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In re DataComm Leasing Corporation Case No. 01-11103 Reporting Period: January 2002 MONTHLY OPERATING REPORT File with Court and submit copy to United States Trustee within 20 days after end of month Submit copy of report to any official committee appointed in the case. Document Explanation REQUIRED DOCUMENTS Form No. Attached Attached ------------------------------------------------------------------------------- Schedule of Cash Receipts and Disbursements MOR-1 X Bank Reconciliation (or copies of debtor's MOR-1 (CON'T) bank reconciliations) X Copies of bank statements X Cash disbursements journals (1) Statement of Operations MOR-2 X Balance Sheet MOR-3 X Status of Postpetition Taxes MOR-4 X Copies of IRS Form 6123 or payment receipt Copies of tax returns filed during reporting period Summary of Unpaid Postpetition Debts MOR-4 X Listing of aged accounts payable (1) Accounts Receivable Reconciliation and Aging MOR-5 X Debtor Questionnaire MOR-5 X I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief. --------------------- Signature of Debtor Date --------------------- Signature of Joint Debtor Date /S/ W. G. HENRY 3/21/02 --------------------- --------- Signature of Authorized Individual* Date WILLIAM G. HENRY VP & CFO --------------------- ---------- Printed Name of Authorized Individual Title of Authorized Individual *Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company. (1) The Company operates under one centralized accounts payable system managed and operated by General DataComm Inc. All Company-related disbursements are included in the attachment to form MOR for General DataComm Inc. Forms are reported in thousands of dollars. FORM MOR (9/99) In re DataComm Leasing Corporation Case No. 01-11103 Debtor Reporting Period: January 2002 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. The amounts reported in the "CURRENT MONTH - ACTUAL" column must equal the sum of the four bank account columns. The amounts reported in the "PROJECTED" columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1) . 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. [See MOR-1 (CON'T)]
BANK ACCOUNTS CURRENT MONTH CUMULATIVE FILING TO DATE ------------- ------------- ------------------------- OPER. PAYROLL TAX OTHER ACTUAL PROJECTED ACTUAL PROJECTED ----------------------------------------------------------- -------------------------- -------------------------- CASH BEGINNING OF MONTH 12 N/A N/A N/A 12 231 ----------------------------------------------------------- -------------------------- -------------------------- RECEIPTS ----------------------------------------------------------- -------------------------- -------------------------- CASH SALES ACCOUNTS RECEIVABLE 326 326 326 1,047 785 LOANS AND ADVANCES SALE OF ASSETS OTHER (ATTACH LIST) TRANSFERS (FROM DIP ACCTS) ----------------------------------------------------------- -------------------------- -------------------------- TOTAL RECEIPTS 326 326 326 1,047 785 --------------------------------------------------------- -------------------------- -------------------------- DISBURSEMENTS ----------------------------------------------------------- -------------------------- -------------------------- NET PAYROLL PAYROLL TAXES SALES, USE, & OTHER TAXES INVENTORY PURCHASES SECURED/ RENTAL/ LEASES INSURANCE ADMINISTRATIVE SELLING OTHER (ATTACH LIST) (a) 1 1 3 OWNER DRAW * TRANSFERS (TO DIP ACCTS) 140 140 326 851 785 PROFESSIONAL FEES U.S. TRUSTEE QUARTERLY FEES COURT COSTS ------------------------------------------------------------ -------------------------- ------------------------- TOTAL DISBURSEMENTS 141 141 326 854 785 ------------------------------------------------------------ -------------------------- ------------------------- NET CASH FLOW 185 185 0 193 0 (RECEIPTS LESS DISBURSEMENTS) ----------------------------------------------------------- -------------------------- -------------------------- CASH - END OF MONTH 197 197 0 424 0 -------------------------------------------------------------------------------------------------------------------------- * COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE
THE FOLLOWING SECTION MUST BE COMPLETED DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN) TOTAL DISBURSEMENTS 141 LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS 140 PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts) 0 ---- TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES 1 FORM MOR-1 (a) bank fees In re DataComm Leasing Corporation Case No. 01-11103 Debtor Reporting Period: January 2002 BANK RECONCILIATIONS Continuation Sheet for MOR-1 A bank reconciliation must be included for each bank account. The debtor's bank reconciliation may be substituted for this page. Operating Payroll Tax Other # # # # ------------------------------------------------------------------------------ BALANCE PER BOOKS 197 N/A N/A N/A ------------------------------------------------------------------------------ BANK BALANCE 197 (+) DEPOSITS IN TRANSIT (ATTACH LIST) 0 (-) OUTSTANDING CHECKS (ATTACH LIST) 0 OTHER (ATTACH EXPLANATION) 0 ADJUSTED BANK BALANCE * 197 ------------------------------------------------------------------------------ * Adjusted bank balance must equal balance per books ------------------------------------------------------------------------------ DEPOSITS IN TRANSIT Date Amount Date Amount Date Amount Date Amount ------------------------------------------------- CHECKS OUTSTANDING Ck.# Amount Ck.# Amount Ck.# Amount Ck.# Amount ------------------------------------------------ OTHER ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- In re DataComm Leasing Corporation Case No. 01-11103 Debtor Reporting Period: January 2002 STATEMENT OF OPERATIONS (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. Cumulative REVENUES Month Filing to Date ------------------------------------------------------------------------------- Gross Revenues 125 430 Less: Returns and Allowances 0 0 ------------------------------------------------------------------------------- Net Revenue 125 430 ------------------------------------------------------------------------------- COST OF GOODS SOLD ------------------------------------------------------------------------------- Beginning Inventory Add: Purchases Add: Cost of Labor Add: Other Costs (attach schedule) 4 13 Less: Ending Inventory Cost of Goods Sold 4 13 ------------------------------------------------------------------------------- Gross Profit 121 417 ------------------------------------------------------------------------------- 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 3 3 Supplies Taxes - Payroll Taxes - Real Estate Taxes - Other Travel and Entertainment Utilities Other (attach schedule) 1 12 ------------------------------------------------------------------------------- Total Operating Expenses Before Depreciation 4 15 Depreciation/Depletion/Amortization Net Profit (Loss) Before Other Income & Expenses 117 402 ------------------------------------------------------------------------------- OTHER INCOME AND EXPENSES ------------------------------------------------------------------------------- Other Income (attach schedule) Interest Expense Other Expense (attach schedule) Net Profit (Loss) Before Reorganization Items 117 402 ------------------------------------------------------------------------------- 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 0 0 Income Taxes 10 86 ------------------------------------------------------------------------------- Net Profit (Loss) 107 316 ------------------------------------------------------------------------------- *"Insider" is defined in 11 U.S.C. Section 101(31). FORM MOR-2 In re DataComm Leasing Corporation Case No. 01-11103 Debtor Reporting Period: January 2002 STATEMENT OF OPERATIONS - continuation sheet ------------------------------------------------------------------------------- Cumulative BREAKDOWN OF "OTHER" CATEGORY Month Filing to Date ------------------------------------------------------------------------------- Other Costs Depreciation Expense 2 11 Miscellaneous 2 2 Other Operational Expenses Outside Services 1 4 Miscellaneous 0 8 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. FORM MOR-2 (CON'T) (9/99) In re DataComm Leasing Corporation Case No. 01-11103 Debtor Reporting Period: January 2002 BALANCE SHEET The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from postpetition obligations. ------------------------------------------------------------------------------- BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE ------------------------------------------------------------------------------- CURRENT ASSETS ------------------------------------------------------------------------------- Unrestricted Cash and Equivalents 197 5 Restricted Cash and Cash Equivalents (see continuation sheet) Accounts Receivable (Net) 17 162 Notes Receivable Inventories 0 1 Prepaid Expenses Professional Retainers Other Current Assets (attach schedule) 2,654 2,741 ------------------------------------------------------------------------------- TOTAL CURRENT ASSETS 2,868 2,909 ------------------------------------------------------------------------------- PROPERTY AND EQUIPMENT ------------------------------------------------------------------------------- Real Property and Improvements Machinery and Equipment Furniture, Fixtures and Office Equipment Leasehold Improvements Vehicles Less Accumulated Depreciation ------------------------------------------------------------------------------- TOTAL PROPERTY & EQUIPMENT 0 0 ------------------------------------------------------------------------------- OTHER ASSETS ------------------------------------------------------------------------------- Loans to Insiders* Other Assets (attach schedule) 9,093 8,475 ------------------------------------------------------------------------------- TOTAL OTHER ASSETS 9,093 8,475 ------------------------------------------------------------------------------- TOTAL ASSETS 11,961 11,384 ------------------------------------------------------------------------------- BOOK VALUE AT END OF BOOK VALUE ON LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PETITION DATE ------------------------------------------------------------------------------- LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition) ------------------------------------------------------------------------------- Accounts Payable Taxes Payable (refer to FORM MOR-4) Wages Payable Notes Payable Rent/Leases - Building/Equipment Secured Debt/Adequate Protection Payments Professional Fees Amounts Due to Insiders* Other Postpetition Liabilities(attach schedule) -2 0 ------------------------------------------------------------------------------- TOTAL POSTPETITION LIABILITIES -2 0 ------------------------------------------------------------------------------- LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition) ------------------------------------------------------------------------------- Secured Debt Priority Debt Unsecured Debt 564 693 ------------------------------------------------------------------------------- TOTAL PRE-PETITION LIABILITIES 564 693 ------------------------------------------------------------------------------- TOTAL LIABILITIES 562 693 ------------------------------------------------------------------------------- OWNER EQUITY ------------------------------------------------------------------------------- Capital Stock 2 Additional Paid-In Capital Partners' Capital Account Owner's Equity Account Retained Earnings - Pre-Petition 10,691 10,691 Retained Earnings - Postpetition 706 0 Adjustments to Owner Equity (attach schedule) Postpetition Contributions (Distributions) (Draws) (attach schedule) ------------------------------------------------------------------------------- NET OWNER EQUITY 11,399 10,691 ------------------------------------------------------------------------------- TOTAL LIABILITIES AND OWNERS' EQUITY 11,961 11,384 ============================================================================== *"Insider" is defined in 11 U.S.C. Section 101(31). FORM MOR-3 (9/99) In re: DataComm Leasing Corporation Case No. 01-11103 Debtor Reporting Period: January 2002 BALANCE SHEET - continuation sheet -------------------------------------------------------------------------------- BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE -------------------------------------------------------------------------------- Other Current Assets Investment in Direct Finance Leases 308 307 Investment in Installment Sale Leases 2,292 2,144 Unbilled Receivables - misc. 54 56 ------------------------------------------------------------------------------- Other Assets Investment in Direct Finance Leases 26 96 Investment in Installment Sale Leases 760 546 Net Equip on Oper. Lease 55 61 Residual Value of Leased Equipment 10 12 Other 89 237 Intercompany receivable 8,153 7,523 ------------------------------------------------------------------------------- BOOK VALUE AT END OF BOOK VALUE ON LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PETITION DATE ------------------------------------------------------------------------------- Other Postpetition Liabilities DLC Receivable Billed in Advance -11 0 Accrued PBO Liability - Advanta 2 0 Accrued Sales Tax 6 0 Accrued Other 1 0 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. FORM MOR-3 (CON'T) (9/99) In re DataComm Leasing Corporation Case No. 01-11103 Debtor Reporting Period: January 2002 STATUS OF POSTPETITION 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 or payment receipt to verify payment or deposit of federal payroll taxes. Attach photocopies of any tax returns filed during the reporting period. ------------------------------------------------------------------------------- Beginning Amount Ending Tax Withheld Amount Date Check No. Tax Liability or Accrued Paid Paid or EFT Liability ------------------------------------------------------------------------------- Federal ------------------------------------------------------------------------------- Withholding See Note 1 below FICA-Employee See Note 1 below FICA-Employer See Note 1 below Unemployment Income Other: N/A ------------------------------------------------------------------------------- Total Federal Taxes 0 0 0 0 ------------------------------------------------------------------------------- State and Local ------------------------------------------------------------------------------- Withholding See Note 1 below Sales 8 5 7 various various 6 Excise N/A Unemployment See Note 1 below Real Property N/A Personal Property 0 0 0 0 Other: N/A ------------------------------------------------------------------------------- Total State and Local 8 5 7 6 ------------------------------------------------------------------------------- Total Taxes 8 5 7 6 ------------------------------------------------------------------------------- SUMMARY OF UNPAID POSTPETITION DEBTS Attach aged listing of accounts payable. ------------------------------------------------------------------------------- Number of Days Past Due -------------------------------------------------- Current 0-30 31-60 61-90 Over 90 Total ------------------------------------------------------------------------------- Accounts Payable Wages Payable Taxes Payable 5 1 6 Rent/Leases-Building Rent/Leases-Equipment Secured Debt/Adequate Protection Payments Professional Fees Amounts Due to Insiders* Other: -8 -8 Other: ------------------------------------------------------------------------------- Total Postpetition Debts -3 1 0 0 0 -2 ------------------------------------------------------------------------------- Explain how and when the Debtor intends to pay any past-due postpetition debts. These taxes are due quarterly or annually. ------------------------------------------------------------------------------- *"Insider" is defined in 11 U.S.C. Section 101(31). FORM MOR-4 (9/99) Note 1: The Company operates under one centralized payroll system. All payroll tax related activity applicable to DataComm Leasing Corporation is reported on form MOR-4 of General DataComm Inc. In re DataComm Leasing Corporation Case No. 01-11103 Debtor Reporting Period: January 2002 ACCOUNTS RECEIVABLE RECONCILIATION AND AGING ------------------------------------------------------------------------------- Accounts Receivable Reconciliation Amount -------------------------------------------------------------------------------- Total Accounts Receivable at the beginning of the reporting period 1,794 + Amounts billed during the period 395 - Amounts collected during the period 313 -------------------------------------------------------------------------------- Total Accounts Receivable at the end of the reporting period 1,876 -------------------------------------------------------------------------------- Accounts Receivable Aging Amount -------------------------------------------------------------------------------- 0 - 30 days old 287 31 - 60 days old 95 61 - 90 days old 73 91+ days old 1,421 Total Accounts Receivable 1,876 Amount considered uncollectible (Bad Debt) 1,675 Additional Reserves 184 Accounts Receivable (Net) 17 -------------------------------------------------------------------------------- DEBTOR 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 all postpetition tax returns been timely filed? If no, provide an explanation below. X 4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below. X(1) -------------------------------------------------------------------------------- (1) All insurance coverage is purchased through General DataComm Inc. FORM MOR-5 (9/99)