-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UkwBKxkSdhx0EiGCbj2jmT6ZmVFwBgYibFnRCYbWZfx6YxaySi3vL7NffzppmMF7 c8dTlCJ3UCI1E1vpYFPfrQ== 0000928385-99-002169.txt : 20030213 0000928385-99-002169.hdr.sgml : 20030213 19990701171650 ACCESSION NUMBER: 0000928385-99-002169 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990617 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19990701 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PHP HEALTHCARE CORP CENTRAL INDEX KEY: 0000803568 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-OFFICES & CLINICS OF DOCTORS OF MEDICINE [8011] IRS NUMBER: 541023168 STATE OF INCORPORATION: DE FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11780 FILM NUMBER: 99658201 BUSINESS ADDRESS: STREET 1: 11440 COMMERCE PK DR CITY: RESTON STATE: VA ZIP: 20191 BUSINESS PHONE: 7037583600 MAIL ADDRESS: STREET 1: 11440 COMMERCE PARK DR CITY: RESTON STATE: VA ZIP: 20191 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 June 30, 1999 Date of Report (Earliest Reported Event is June 17, 1999) PHP HEALTHCARE CORPORATION (Exact name of registrant as specified in its charter) Commission File No. 0-16235 Delaware 54-1023168 (State or other jurisdiction of (IRS Employer Identification No.) incorporation or jurisdiction) 1850 Centennial Park Drive Reston, Virginia 20191 (Address of principal (Zip Code) executive offices) (703) 758-3600 Registrant's telephone number, including area code: _________________________________________________________________________ (Former names or former address, if changed since last report) Item 5. Other Events - --------------------- As previously reported by PHP Healthcare Corporation (the "Company" or "PHP"), on November 19, 1998, the Company filed in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"), Bankruptcy Case No. 98- 2608(JJF), a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code. In accordance with its Chapter 11 reporting obligations, the Company filed its monthly operating report for the month ended March 1999 (the "Monthly Report") with the Office of the U.S. Trustee and the Bankruptcy Court on June 17, 1999. The Monthly Report is attached with this Current Report on Form 8-K as Exhibit 99.1 Due to the volume of documents and the expense associated with the electronic filing of the Monthly Report, certain exhibits and attachments to the Monthly Report are not attached as part of Exhibit 99.1, but are available upon request from the Office of the United States Trustee, the Bankruptcy Court or the Company. In addition, the Company agrees that it will furnish a copies of the omitted attachments to the Commission upon its request. Item 7. FINANCIAL STATEMENTS AND EXHIBITS Exhibits. The following exhibits are furnished as part of this report: Exhibit Description ------- ----------- 99.1 Monthly Operating Report of PHP Healthcare Corporation as filed with the Office of the U.S. Trustee and the United States Bankruptcy Court for the District of Delaware on June 17, 1999. FORWARD LOOKING STATEMENTS This Report contains forward-looking statements. The words, "believe", "expect", and "anticipate" and similar expressions identify such forwarding- looking statements. These forward-looking statements reflect the Company's views with respect to future events and financial performance. Such statements are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those projected in the forward-looking statements. Risks associated with the Company's forward-looking statements include, but are not limited to, those risk factors described in the Company's Form 10-K under the caption "Business Risk Factors". Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. PHP HEALTHCARE CORPORATION By: /s/ Anthony M. Picini --------------------------------------- Name: Anthony M. Picini Title: Executive Vice President Officer Dated: June 30, 1999 EXHIBIT INDEX Exhibit Description ------- ----------- 99.1 Monthly Operating Report of PHP Healthcare Corporation as filed with the Office of the U.S. Trustee and the United States Bankruptcy Court for the District of Delaware on June 17, 1999. EX-99.1 2 EXHIBIT 99.1 Office of the United States Trustee - Region 3 Monthly Operating Report for the month ending May, 1999 ================================================================================ Document Previously Explanation Required Attachments Attached Submitted Attached 1. Tax Receipts N/A ( ) ( ) ( ) 2. Bank Statements (X) ( ) ( ) 3. Most Recently Filed ( ) ( ) ( ) Income Tax Return 4. Most Recently Annual ( ) (X) ( ) Financial Statements Prepared by Accountant IN ACCORDANCE WITH TITLE 25, SECTION 1746 OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (CASH BASIS - 1 THROUGH CASH BASIS - 9) AND THE ACCOMPANYING ATTTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT AND COMPLETE DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER AS ANY KNOWLEDGE. RESPONSIBLE PARTY: /s/ Anthony M. Picini Executive V.P. - --------------------------- --------------------------- SIGNATURE OF RESPONSIBLE PARTY TITLE Anthony M. Picini June 17, 1999 - --------------------------- --------------------------- PRINTED NAME OF RESPONSIBLE PARTY DATE PREPARER ___________________________ ___________________________ SIGNATURE OF PREPARER TITLE ___________________________ ___________________________ PRINTED NAME OF PREPARER DATE All Chapter 11 debtors must file this report with the Court and serve a copy on the United States Trustee no later than the 15th day of the month following the end of the month covered by this report. May-99 MONTH ENDING ---------------------
- ------------------------------------------------------------------------------------------------------------------------ CASH RECEIPTS AND MONTH MONTH MONTH ------------------------------------------------------------------- DISBURSEMENTS 3/31/99 4/30/98 5/31/98 ------------------------------------------------------------------- 1 Cash -Beginning of Month 3,363,840 3,478,750 3,148,806 - ------------------------------------------------------------------------------------------------------------------------ RECEIPTS - ------------------------------------------------------------------------------------------------------------------------ 2 Cash Sales 210,775 140,401 84,368 - ------------------------------------------------------------------------------------------------------------------------ 3 Accounts Receivable Collections 7,457,669 5,239,946 4,728,817 - ------------------------------------------------------------------------------------------------------------------------ 4 Loans & Advances - ------------------------------------------------------------------------------------------------------------------------ 5 Sale of Assets (attachment 2C) 92,500 3,016,784 2,191,900 - ------------------------------------------------------------------------------------------------------------------------ 6 Lease & Rental Income - ------------------------------------------------------------------------------------------------------------------------ 7 Wages - ------------------------------------------------------------------------------------------------------------------------ 8 Other (Attach List) (attachment 2A) 73,712 7,077,550 1,429,093 - ------------------------------------------------------------------------------------------------------------------------ 9 Total Receipts (total lines 2-8) 7,834,656 15,474,680 8,434,178 - ------------------------------------------------------------------------------------------------------------------------ DISBURSEMENTS - ------------------------------------------------------------------------------------------------------------------------ 10 Net Payroll - ------------------------------------------------------------------------------------------------------------------------ 11 Payroll Taxes Paid - ------------------------------------------------------------------------------------------------------------------------ 12 Sales, Use & Other Taxes Paid - ------------------------------------------------------------------------------------------------------------------------ 13 Inventory Purchases - ------------------------------------------------------------------------------------------------------------------------ 14 Mortgage Payments - ------------------------------------------------------------------------------------------------------------------------ 15 Other Secured Note Payments - ------------------------------------------------------------------------------------------------------------------------ 16 Rental & Lease Payments - ------------------------------------------------------------------------------------------------------------------------ 17 Utilities - ------------------------------------------------------------------------------------------------------------------------ 18 Insurance - ------------------------------------------------------------------------------------------------------------------------ 19 Vehicle Expense - ------------------------------------------------------------------------------------------------------------------------ 20 Travel - ------------------------------------------------------------------------------------------------------------------------ 21 Entertainment - ------------------------------------------------------------------------------------------------------------------------ 22 Repairs & Maintenance - ------------------------------------------------------------------------------------------------------------------------ 23 Supplies - ------------------------------------------------------------------------------------------------------------------------ 24 Advertising - ------------------------------------------------------------------------------------------------------------------------ 25 Household Expenses - ------------------------------------------------------------------------------------------------------------------------ 26 Charitable Contributions - ------------------------------------------------------------------------------------------------------------------------ 27 Gifts - ------------------------------------------------------------------------------------------------------------------------ 28 Other (Attach List) (attachment 2B) 7,074,698 5,056,745 1,662,418 - ------------------------------------------------------------------------------------------------------------------------ 29 Total Lines 10 thru 28 7,074,698 5,056,745 1,662,418 - ------------------------------------------------------------------------------------------------------------------------ REORGANIZATION EXPENSES - ------------------------------------------------------------------------------------------------------------------------ 30 Professional Fees 645,048 540,138 560,511 - ------------------------------------------------------------------------------------------------------------------------ 31 U.S. Trustee Fees - ------------------------------------------------------------------------------------------------------------------------ 32 Other (Attach List) (attachment 2D) 10,207,741 4,677,366 - ------------------------------------------------------------------------------------------------------------------------ 33 Total Lines 30 thru 32 645,048 10,747,879 5,237,878 - ------------------------------------------------------------------------------------------------------------------------ 34 Total Disbursements (line 29+line 33) 7,719,748 15,804,624 6,900,295 - ------------------------------------------------------------------------------------------------------------------------ 35 Net Cash Flow (line 9 - line 34) 114,910 (329,944) 1,533,883 - ------------------------------------------------------------------------------------------------------------------------ 36 Cash - End of Month (line 1 + line 35) 3,478,750 3,148,806 4,682,689 - ------------------------------------------------------------------------------------------------------------------------
PHP HEALTHCARE CORP. Other Receipts April 1999
===================================================================================================== Description Net Amount ===================================================================================================== Primus Collection of Receivables after sale of contract 1,272,956.27 (receivables were forwarded to Meridian Corporate Healthcare) Social Workers Collection of Receivables after sale of contract 156,136.90 (receivables were forwarded to Sterling Medical Associates) - ----------------------------------------------------------------------------------------------------- Total Other Receipts 1,429,093.17 =====================================================================================================
========================================================================================== DESCRIPTION NET ACTIVITY ========================================================================================== Net Payroll 441,326 Payroll Taxes 316,982 Payroll W/H's 657 Legal 9,021 Deposits (1,000) Health/Dental Claims 9,463 Contract-Primary Care Prov 8,960 Contract-Consultant 144,849 Contract-Medical Temps 1,037 Contract-Office Temps 54,024 Fringe Benefits 82,753 Medical Supplies 143 Patient Care Services 518 Office Supply Expense 6,935 Utilities 6,041 Bldg & Office Expense 185,774 Business Taxes/Licenses 32,267 Professional Dues & Subs 3,285 Employee Related Expenses 519 Business Travel & Meals 6,828 Interest Expense 789 Intercompany Expense 12,823 Accounts payable and other working capital adjustments-Sterling 130,024 Accounts payable and other working capital adjustments-UP & UP (50,811) Accounts payable and other working capital adjustments-Meridian 254,011 Misc. Expense 5,199 - ------------------------------------------------------------------------------------------ Total Disbursements 1,662,418 ==========================================================================================
Attachment 2B PHP HEALTHCARE CORPORATION Sale of Assets May 1999
================================================================================================================================== Contract Sale/ Asset Sale Working Price Capital Total ================================================================================================================================== Sterling Medical Sale of Social Workers and Family Practice Contract 370,000.00 690,330.96 a. 1,060,330.96 Fayetteville Sale of Property 431,058.06 431,058.06 Up & Up Sale of DIHS Contract 300,000.00 1,534,975.61 b. 1,834,975.61 Meridian Sale of Primus Contract 988,038.00 1,021,516.17 c. 2,009,554.17 Sale of Furniture and Equipment 102,804.25 102,804.25 - ---------------------------------------------------------------------------------------------------------------------------------- Total Asset Sales 2,191,900.31 3,246,822.74 5,438,723.05 ==================================================================================================================================
a. Accounts receivable collected 820,355.16 (included in CB-2 line 3) Accounts payable and other working capital adjustments (130,024.20) (included in CB-2 line 28) ------------- Balance collected at closing 690,330.96 b. Accounts receivable collected 1,484,164.12 (included in CB-2 line 3) Accounts payable and other working capital adjustments 50,811.49 (included in CB-2 line 28) ------------- Balance collected at closing 1,534,975.61 c. Accounts receivable collected 1,272,956.27 (included in CB-2 line 3) Interest Collected 2,571.17 Accounts payable and other working capital adjustments (254,011.27) (included in CB-2 line 28) ------------- Balance collected at closing 1,021,516.17
Attachment 2C PHP HEALTHCARE CORPORATION Other Disbursements May 1999
==================================================================================================================================== Nations Meridian Sterling Med. Bank Corporate Associates Total Healthcare ==================================================================================================================================== Primus Contract Proceeds from sale 988,038.00 988,038.00 DIHS Contract Proceeds from sale 300,000.00 300,000.00 Proceeds from Sale of Furniture & Equipment 102,804.25 102,804.25 Fayetteville Property Proceeds from sale 431,058.00 Reserve for commission (4,800.00) ------------- Net Proceeds 426,258.00 426,258.00 Social Workers and Family Practice Contract 370,000.00 370,000.00 Lease Termination Sale Proceeds Sale proceeds 1,300,000.00 Moving expenses (238,827.12) ------------- Net Proceeds 1,061,172.88 1,061,172.88 Primus Receipts 1,272,956.27 1,272,956.27 Social Workers Receipts 156,136.90 156,136.90 - ----------------------------------------------------------------------------------------------------------------------------------- Total Other Disbursements 3,248,273.13 1,272,956.27 156,136.90 4,677,366.30 ===================================================================================================================================
Attachment 2D - ---------------------------------- CASH DISBURSEMENTS DETAIL MONTH: May-99 ---------- (Attach sheets if necessary)
- ------------------------------------------------------------------------------------ CASH DISBURSEMENTS - ------------------------------------------------------------------------------------ DATE PAYEE PURPOSE AMOUNT - ------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------ Various Various (See attachment 3A) 5,313,298 - ------------------------------------------------------------------------------------ 5/1-31/99 Various (See attachment 3C) 517,012 - ------------------------------------------------------------------------------------ Total Cash Disbursements 5,830,310
- ------------------------------------------------------------------------------------- BANK ACCOUNT DISBURSEMENTS - ----------------------------------------------------------------------------------- CHECK NUMBER DATE PAYEE PURPOSE AMOUNT - ----------------------------------------------------------------------------------- Various 5/1-31/99 Various (See attachment 3B) 628,659 - ----------------------------------------------------------------------------------- Various 5/1-31/99 Various Net Payroll 441,326 - ----------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------- Total Bank Account Disbursements 1,069,985 - ------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------- TOTAL DISBURSEMENTS FOR THE MONTH 6,900,295 - -------------------------------------------------------------------------------------
============================================================================================================================= Payroll ReliaStar/ Note Payable Misc. MAY Vendor Description Taxes CoreSource LOC Inc/Exp ============================================================================================================================= 3 PHP - FIT & FICA 129,481.73 5 PHP - VA Tax w/h 5,431.25 7 PHP - FIT & FICA 24,719.26 7 Corporate Credit Services 1st Union (Meridian Escrow) 750,000.00 10 Meridian Fairfax & Woodbridge Receipts 1,109,546.94 10 Corporate Credit Services United Payors & Providers 300,000.00 (DIHS) 18 United Payors & Providers Accounts Payable and Related Expenses (50,811.49) 12 ReliaStar Claims and Adm Fees 4,038.79 13 Meridian Columbus Receipt 163,409.33 14 Corporate Credit Services Proceeds for Equip't @ 84,500.00 Reston, Tustin & Vista 17 PHP - FIT & FICA 110,881.89 17 PHP - MD Tax w/h 15,621.45 17 PHP - SC Tax w/h 1,985.27 18 Corporate Credit Services Meridian Transaction 238,038.00 18 Meridian Accounts Payable and Related Expenses 254,011.27 19 PHP - VA Tax w/h 5,124.00 21 ReliaStar Claims and Adm Fees 3,940.89 25 ReliaStar Claims and Adm Fees 1,483.68 25 Corporate Credit Services Fam Practice, S Workers, 814,562.25 Faytevil & Misc. Equip't 21 Sterling Medical Associates Accounts Payable and Related Expenses 130,024.20 26 Sterling Medical Associates Social Worker Receipts 59,407.03 27 Corporate Credit Services Lease Termination Proceeds 1,061,172.88 27 Sterling Medical Associates Social Worker Receipts 96,729.87 ======================================================================================================================= Total 293,244.85 9,463.36 3,248,273.13 1,762,317.15 ======================================================================================================================= ===================================================== MAY Vendor TOTAL ===================================================== 3 129,481.73 5 5,431.25 7 24,719.26 7 Corporate Credit Services 750,000.00 10 Meridian 1,109,546.94 10 Corporate Credit Services 300,000.00 18 United Payors & Providers (50,811.49) 12 ReliaStar 4,038.79 13 Meridian 163,409.33 14 Corporate Credit Services 84,500.00 17 110,881.89 17 15,621.45 17 1,985.27 18 Corporate Credit Services 238,038.00 18 Meridian 254,011.27 19 5,124.00 21 ReliaStar 3,940.89 25 ReliaStar 1,483.68 25 Corporate Credit Services 814,562.25 21 Sterling Medical Associates 130,024.20 26 Sterling Medical Associates 59,407.03 27 Corporate Credit Services 1,061,172.88 27 Sterling Medical Associates 96,729.87 =============================================== 5,313,298.49 ===============================================
Attachment 3A
- -------------------- ACCOUNTS RECEIVABLE MONTH: May-99 - -------------------- ---------------- Accounts Receivable -Trade - -------------------------------------------------------------------------------------------------------------- Total accounts receivable at the beginning of the period 2,931,477 - -------------------------------------------------------------------------------------------------------------- Amounts billed during the period, net of adjustments 2,008,323 - -------------------------------------------------------------------------------------------------------------- Amounts collected during the period 4,728,817 - -------------------------------------------------------------------------------------------------------------- Total accounts receivable at the end of the period 210,983 - -------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------- ACCOUNTS RECEIVABLE AGING AMOUNT - -------------------------------------------------------------------------------------------------------------- 0 - 30 days old 0 - -------------------------------------------------------------------------------------------------------------- 30 - 60 days old 0 - -------------------------------------------------------------------------------------------------------------- 61 - 90 days old 106,712 - -------------------------------------------------------------------------------------------------------------- 91 + days old 104,271 - -------------------------------------------------------------------------------------------------------------- TOTAL ACCOUNTS RECEIVABLE 210,983 - -------------------------------------------------------------------------------------------------------------- TOTAL CONSIDERED UNCOLLECTIBLE 0 - -------------------------------------------------------------------------------------------------------------- ACCOUNTS RECEIVABLE (NET) 210,983 - -------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------- AMOUNTS DUE FROM AFFILIATES & INSIDERS (ITEMIZE) AMOUNT - -------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------- (See attachment 4A) 63,255,156 - -------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------- TOTAL 63,255,156 - -------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------- INVENTORY AMOUNT - -------------------------------------------------------------------------------------------------------------- Beginning inventory 0 - -------------------------------------------------------------------------------------------------------------- Plus Purchases - -------------------------------------------------------------------------------------------------------------- Minus Sales - -------------------------------------------------------------------------------------------------------------- Ending Inventory 0 - --------------------------------------------------------------------------------------------------------------
PHP Healthcare Corp. Amounts Due from Affiliates & Insiders May 31, 1999
Exec Loan Program Amount ----------------- ------ Jack Mazur 5,426,419 Michael Starr 1,382,272 Anthony Picini 155,246 William Lubin 173,349 Kenneth Weixel 287,560 Robert Bowles 449,383 Frank Provato 134,225 - -------------------------------------------------------------------------------------------------- Subtotal 8,008,455 - -------------------------------------------------------------------------------------------------- Other Notes Receivable ---------------------- Robert Bowles 694,146 Kenneth Weixel-Employment 80,000 Kenneth Weixel-Other 275,992 G&L Realty 2,142,139 Shamrock Investments 938,351 - -------------------------------------------------------------------------------------------------- Subtotal 4,130,627 - -------------------------------------------------------------------------------------------------- Due from Subsidiaries --------------------- Pinnacle Health Enterprises, LLC 26,139,536 Pinnacle Medical Group, PA 22,439,645 All other subsidiaries 2,536,894 - -------------------------------------------------------------------------------------------------- Subtotal 51,116,074 - -------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------- Grand Total 63,255,156 ==================================================================================================
Attachment 4A
MONTH: May-99 --------------------- - ------------------------------------------------------------------------------------------------------------------------------------ UNPAID POSTPETITION PAYABLES AND AGING AMOUNT - ------------------------------------------------------------------------------------------------------------------------------------ Postpetition items - ------------------------------------------------------------------------------------------------------------------------------------ Reorganization Expenses - ------------------------------------------------------------------------------------------------------------------------------------ Professional Fees - ------------------------------------------------------------------------------------------------------------------------------------ U.S. Trustee Fees 1,219,220 - ------------------------------------------------------------------------------------------------------------------------------------ Court Fees - ------------------------------------------------------------------------------------------------------------------------------------ Trade Debt 30,491 - ------------------------------------------------------------------------------------------------------------------------------------ Other (attach list) (Report tax in next section only) - ------------------------------------------------------------------------------------------------------------------------------------ AGING 0-30 31'-60 61-90 90 + PAYABLES DAYS DAYS DAYS DAYS TOTAL - ------------------------------------------------------------------------------------------------------------------------------------ 1,230,134 17,180 800 1,597 1,249,711 - ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------ STATUS OF POST PETITION TAXES - ------------------------------------------------------------------------------------------------------------------------------------ BEGINNING AMOUNT ENDING TAX WITHHELD AMOUNT TAX DELINQUENT LIABILITY* OR ACCRUED PAID LIABILITY TAXES - ----------------------------------------------------------------------------------------------------------------------------------- Federal - ----------------------------------------------------------------------------------------------------------------------------------- Withholding** 85,395 112,982 147,747 50,630 - ----------------------------------------------------------------------------------------------------------------------------------- FICA Employee** 34,340 35,280 58,348 11,272 - ----------------------------------------------------------------------------------------------------------------------------------- FICA Employer** 34,466 35,498 58,648 11,316 - ----------------------------------------------------------------------------------------------------------------------------------- Unemployment 2,678 253 0 2,931 - ----------------------------------------------------------------------------------------------------------------------------------- Income - ----------------------------------------------------------------------------------------------------------------------------------- Other (Attach List) - ----------------------------------------------------------------------------------------------------------------------------------- Total Federal Taxes 156,879 184,013 264,743 76,150 - - ----------------------------------------------------------------------------------------------------------------------------------- State and Local - ----------------------------------------------------------------------------------------------------------------------------------- Withholding 48,557 28,075 58,614 18,017 - ----------------------------------------------------------------------------------------------------------------------------------- Sales - ----------------------------------------------------------------------------------------------------------------------------------- Excise - ----------------------------------------------------------------------------------------------------------------------------------- Unemployment 6,785 1,298 0 8,082 - ----------------------------------------------------------------------------------------------------------------------------------- Real Property - ----------------------------------------------------------------------------------------------------------------------------------- Personal Property - ----------------------------------------------------------------------------------------------------------------------------------- Other (Attach List) - ----------------------------------------------------------------------------------------------------------------------------------- Total State & Local 55,342 29,372 58,614 26,100 0 - ----------------------------------------------------------------------------------------------------------------------------------- Total Taxes 212,221 213,386 323,357 102,249 0 - -----------------------------------------------------------------------------------------------------------------------------------
*The beginning tax liability should represent the liability from the prior month or if this is the first operating report the amount should be zero. ** Attach photocopies of PCF Form 8123 or your FTD coupon and payment receipt to verify payment or deposit. CASH BASIA-6 The debtor in possession must complete the reconciliation below for each bank account, including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterix next to the account number. Attach additional sheets if necessary.
MONTH: May-99 - ----------------------------------------------- --------------------------------------------------------- BANK RECONCILIATIONS Account #1 Account #2 Account #3 Account #4 - ------------------------------------------------------------------------------------------------------------------------------ A BANK: ------------------------------------------------------------------------- B ACCOUNT NUMBER ------------------------------------------------------------------------- C PURPOSE (TYPE) - ------------------------------------------------------------------------------------------------------------------------------ 1 Balance per Bank Statement Bank Statements not yet received for the month of May. - ------------------------------------------------------------------------------------------------------------------------------ 2 Add: Total Deposits - ------------------------------------------------------------------------------------------------------------------------------ 3 Less: Outstanding Checks - ------------------------------------------------------------------------------------------------------------------------------ 4 +/- Other Reconciling Items (Attach List) - ------------------------------------------------------------------------------------------------------------------------------ 5 Month Ending Balance Per Books 0 - ------------------------------------------------------------------------------------------------------------------------------ 6 Number of Last Check Written - ------------------------------------------------------------------------------------------------------------------------------ - ----------------------------------------------- INVESTMENT ACCOUNTS - ------------------------------------------------------------------------------------------------------------------------------ Date of Type of Purchase Current BANK, ACCOUNT NAME & NUMBER Purchase Instrument Price Value - ------------------------------------------------------------------------------------------------------------------------------ 7 - ------------------------------------------------------------------------------------------------------------------------------ 8 - ------------------------------------------------------------------------------------------------------------------------------ 9 - ------------------------------------------------------------------------------------------------------------------------------ 10 - ------------------------------------------------------------------------------------------------------------------------------ 11 Total Investment 0 0 - ------------------------------------------------------------------------------------------------------------------------------ - ----------------------------------------------- CASH - ------------------------------------------------------------------------------------------------------------------------------ 12 Currency on Hand 0 - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ 13 TOTAL CASH - END OF MONTH (Total lines 5, 11 &12) 0 0 - ------------------------------------------------------------------------------------------------------------------------------
Please attach copies of BANK STATEMENTS. - -------------------------------------------------------------------------------- PAYMENTS TO INSIDERS AND PROFESSIONALS - -------------------------------------------------------------------------------- MONTH: May-99 Of the total disbursements shown for the month, list the amount paid to insiders (as defined in section 101 (31) (A)-(F) of the U.S. Bankruptcy Code) and to professionals, for payments to insiders, identify the type of compensation paid (e.g. salary, bonus, commission, insurance, housing allowance travel car allowance, etc). Attach additional sheets if necessary.
- ------------------------------------------------------------------------------------------------------------------------------------ INSIDERS - ------------------------------------------------------------------------------------------------------------------------------------ TYPE OF CUMULATIVE UNPAID NAME POSITION PAYMENT PAID BALANCE - ----------------------------------------------------------------------------------------------------------------------------------- 1 K. Weixel Acting CEO & President Salary - - ----------------------------------------------------------------------------------------------------------------------------------- 2 M Starr Senior Executive Vice President Salary 13,454 - - ----------------------------------------------------------------------------------------------------------------------------------- 3 A. Picini Executive Vice President Salary 23,077 - - ----------------------------------------------------------------------------------------------------------------------------------- 4 J. Hercenberg Senior Vice President Salary 21,154 - - ----------------------------------------------------------------------------------------------------------------------------------- 5 J. Mazur Former CEO & President Salary - - - ----------------------------------------------------------------------------------------------------------------------------------- 6 W. Lubin Former Executive Vice President Salary - - - ----------------------------------------------------------------------------------------------------------------------------------- 7 D. Berman Former Senior Vice President Salary - - ---------------------------------------------------------------------------------------------------------------------------- Total Payments to Insiders 57,685 - - -----------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------ PROFESSIONALS - ------------------------------------------------------------------------------------------------------------------------------------ DATE OF COURT TOTAL ORDER AUTH. AMOUNT AMOUNT PAID NAME PAYMENT APPROVED PAID TO DATE (cumulative) - ------------------------------------------------------------------------------------------------------------------------------------ 1 Richards, Layton & Legal Fees - 5/20/99 137,140 113,583 673,921 Finger - ------------------------------------------------------------------------------------------------------------------------------------ 2 The Bayard Firm Legal Fees 0 0 9,675 - ------------------------------------------------------------------------------------------------------------------------------------ 3 Cole, Schotz, Meisel, Legal Fees - 5/20/99 103,198 84,700 258,469 Forman - ------------------------------------------------------------------------------------------------------------------------------------ 4 Comey, Boyd & Luskin Legal Fees - 5/26/99 60,078 48,949 72,237 - ------------------------------------------------------------------------------------------------------------------------------------ 5 Weil Gotshal & Legal Fees 0 0 63,775 Manges, LLP - ------------------------------------------------------------------------------------------------------------------------------------ 6 Arthur Andersen, LLP Professional Fees - 5/10/99 70,997 58,043 244,062 - ------------------------------------------------------------------------------------------------------------------------------------ 7 Pricewaterhouse Professional Fees - 5/20/99 217,097 178,598 892,385 Coopers, LLP - ------------------------------------------------------------------------------------------------------------------------------------ 8 Sugarman & Company, Professional Fees - 5/10/99 92,724 76,638 258,744 LLP - ------------------------------------------------------------------------------------------------------------------------------------ Total Payments to Professionals 681,234 560,511 2,473,269 - ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------ SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS SCHEDULED AMOUNTS PAID TOTAL - ------------------------------------------------------------------------------------------------------------------------------------ NAME OF MONTHLY DURING UNPAID CREDITOR PAYMENTS DUE MONTH POSTPETITION - ------------------------------------------------------------------------------------------------------------------------------------ 1 MLC 83,228 83,228 - - ------------------------------------------------------------------------------------------------------------------------------------ 2 - ------------------------------------------------------------------------------------------------------------------------------------ 3 - ------------------------------------------------------------------------------------------------------------------------------------ 4 - ------------------------------------------------------------------------------------------------------------------------------------ 5 - ------------------------------------------------------------------------------------------------------------------------------------ Total 83,228 83,228 - - ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------ QUESTIONNAIRE MONTH: May-99 YES NO - ------------------------------------------------------------------------------------------------------------------------------------ 1 Have any assets been sold or transferred outside the normal course of business this reporting period? X - ------------------------------------------------------------------------------------------------------------------------------------ 2 Have any funds been disbursed from any account other than a debtor in possession account? X - ------------------------------------------------------------------------------------------------------------------------------------ 3 Are any postpetition receivables (accounts,notes, or loans) due from related parties? X - ------------------------------------------------------------------------------------------------------------------------------------ 4 Have any payments been made on prepetition liabilities this reporting period? X - ------------------------------------------------------------------------------------------------------------------------------------ 5 Have any postpetition loans been received by the debtor from any party? X - ------------------------------------------------------------------------------------------------------------------------------------ 6 Are any postpetition payroll taxes past due? X - ------------------------------------------------------------------------------------------------------------------------------------ 7 Are any postpetition state or federal income taxes past due? X - ------------------------------------------------------------------------------------------------------------------------------------ 8 Are any postpetition real-estate taxes past due? X - ------------------------------------------------------------------------------------------------------------------------------------ 9 Are any other postpetition taxes past due? X - ------------------------------------------------------------------------------------------------------------------------------------ 10 Are any amounts owed to postpetition creditors past due? X - ------------------------------------------------------------------------------------------------------------------------------------ 11 Have any prepetition taxes been paid during the reporting period? X - ------------------------------------------------------------------------------------------------------------------------------------ 12 Are any wage payments past due? X - ------------------------------------------------------------------------------------------------------------------------------------ If the answer to any of the above questions is "YES", provide a detailed explanation of each item. Attach additional sheets if necessary (See attachment 8A) - ------------------------------------------------------------------------------------------------------------------------------------ INSURANCE YES NO - ------------------------------------------------------------------------------------------------------------------------------------ 1 Are worker's compensation, general liability and other necessary insurance coverages in effect? X - ------------------------------------------------------------------------------------------------------------------------------------ 2 Are all premium payments paid current? X - ------------------------------------------------------------------------------------------------------------------------------------ 3 Please itemize policies below. - ------------------------------------------------------------------------------------------------------------------------------------ If the answer to any of the above questions is "NO", or if any policies have been cancelled or not renewed during this reporting period, provide an explanation below. Attach additional sheets if necessary. (See attachment 8B) - ------------------------------------------------------------------------------------------------------------------------------------ INSTALLMENT PAYMENTS - ------------------------------------------------------------------------------------------------------------------------------------ TYPE OF POLICY CARRIER PERIOD COVERED - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - -----------------------------------------------------------------------------------------------------------------------------------
PHP Healthcare Corporation Case #98-2608 (MFW) For the month ended May 31, 1999 Additional information for questionnaire Question # 1. Assets sold during the current month, as outlined in cash receipts on page 2, include the following: 1. the Primus contracts were sold to Meridian Corporate Healthcare, 2. the Fayetteville property was sold, 3. the DIHS contract was sold to UP & UP, 4. the Social Workers and Family Practice contracts were sold to Sterling Medical Associates, and 5. miscellaneous furniture and equipment was sold. 3. Certain payments have been made in the ordinary course of business for Health Cost Consultants. These amounts are reflected in cash disbursements on page 2. 4. In accordance with orders from the Bankruptcy Court, prepetition amounts were paid for employee benefits. These amounts are reflected in cash disbursements on page 2. ATTACHMENT 8A PHP Healthcare Corporate Insurance
Policy Type Carrier Term Coverage Real/Personal Property Travelers 12/31/98-99 $ 30.4 Indemnity Auto Wausau 12/31/98-99 $ 1M Lawyers Malpractice American 6/1/98-6/15/99 $ 2M International Directors & Officers (D&O) Tamarack 3/31/99-00 $ 5M American D&O Extended Reporting National 3/30/99-00 $ 15M Period Union Employment Practices Zurich 4/15/99-00 $ 1M Liability General Liability Trans- 5/01/99-00 $ 2M America Dishonesty/Forgery/Theft Gulf 12/31/97-00 $ 1M Insurance Workers Compensation Wausau 12/31/98-99 By Law Medical Malpractice Healthcare Unlimited $1M/3M "Tail" Coverage * Insurance 7 years $4M/4M Fiduciary Responsibility Chubb 12/31/98-99 $ 3M
* Separate extended reporting period (tail) coverage was purchased for the Fairfax, VA; Woodbridge, VA; Columbus, GA; Tustin, CA; Vista, CA, PrimeCare, VA; and Chrysler's Kenosha, WI/Newark, DE projects to support the sale/disposition of those activities. Attachment 8B
MONTH: May-99 - ------------------------------------------------------------------------------------------------------------------------------------ PERSONNEL - ------------------------------------------------------------------------------------------------------------------------------------ Full Time Part Time - ------------------------------------------------------------------------------------------------------------------------------------ 1 Total number of employees at beginning of period 276 - ------------------------------------------------------------------------------------------------------------------------------------ 2 Number of employees hired during period 0 - ------------------------------------------------------------------------------------------------------------------------------------ 3 Number of employees terminated or resigned during the period 249 - ------------------------------------------------------------------------------------------------------------------------------------ 4 Total number of employees at the end of the period 27 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ CHANGE OF ADDRESS - ------------------------------------------------------------------------------------------------------------------------------------
If your mailing address has changed and you have not previously notified the United States Trustee of the change, list your new address below: DATE OF CHANGE: 5/1/99 ------------------ NEW ADDRESS: 1850 Centennial Park Drive -------------------------- Reston, VA 20191 -------------------------- -------------------------- 17 -----END PRIVACY-ENHANCED MESSAGE-----