EX-99.1 2 mm06-0911_8ke991.htm EXHIBIT 99.1 - MAY 2011 MONTHLY OPERATING REPORT mm06-0911_8ke991.htm
EXHIBIT 99.1

 
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
 
In re:  TSIC, Inc. f/k/a Sharper Image Corporation
 
Case No. 08-10322 (KG)
Reporting Period: 5/1/2011 – 5/31/2011

 
MONTHLY OPERATING REPORT
 
REQUIRED DOCUMENTS
Form No.
Document Attached
Explanation Attached
Schedule of Cash Receipts and Disbursements
MOR-1
Yes
 
     Bank Reconciliation (or copies of
     debtor’s bank reconciliations)
MOR-1a
Refer  to attached statement
 
     Schedule of Professional Fees Paid
MOR-1b
Yes
 
     Copies of Bank Statements
MOR-1c
Refer to attached statement
 
     Cash Disbursements Journals
MOR-1d
 
Refer to MOR-1 for a summary of all cash disbursements.
Statements of Operations
MOR-2
Yes
 
Balance Sheet
MOR-3
Yes
 
Status of Postpetition Taxes
MOR-4
Yes
The attached information includes a summary of the company’s payroll taxes withheld and remitted for the month of May.  The summary was provided by a third party payroll processing company.
Summary of Unpaid Postpetition Debts
MOR-5
Yes
 
     Copies of IRS Form 6123 or payment receipt
MOR-5a
Yes
Refer to payroll taxes reports provided by third party.
     Copies of tax returns filed during reporting period
MOR-5b
No
 
     Listing of aged accounts payable
MOR-5c
Yes
 
Accounts Receivable Reconciliation and Aging
MOR-6
Yes
 
Debtor Questionnaire
MOR-6
Yes
 

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.
 
 
s/ Kevin J Palmer
 
June 8, 2011
Signature of Authorized Individual
 
Date
     
     
Kevin J Palmer
 
June 8, 2011
Printed Name of Authorized Individual
 
Date
 





FORM MOR
(04/07)
 
 

 

UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE


Monthly Operating Report – May 2011
MOR – 1a, 1c, 5b

Bank Reconciliations

I attest that each of the debtor’s bank accounts is reconciled to monthly bank statements.  The Company’s standard practice is to ensure that each bank account is reconciled to monthly bank statements for each calendar month within 30 days after the quarter end.



Sales and Use Tax Returns

I attest that all sales and use tax returns have been filed in accordance with state / county / city requirements for the above period. Any payments remitted have been incorporated into the Schedule of Cash Receipts and Disbursements at MOR-1.



__/s/ Kevin J Palmer_______________________
Kevin J Palmer
Vice President Finance & Controller
TSIC, Inc. f/k/a Sharper Image Corporation

 
 

 
 

 
 

MOR - 1
 
TSIC, Inc. f/k/a Sharper Image Corporation
Case No 08-10322 (KG)
May 2011 Monthly Operating Report
Reporting Period 5/1/2011 - 5/31/2011
Schedule of Cash Receipts and Disbursements for period 5/1/2011 to 5/31/2011
 
 
Account
Deposit
Disbursement
Disbursement
Concentration
Payroll
Payroll
Refund
Stores
All Other
 
DIP Facility
Disbursements
Bank
Wells Fargo
Wells Fargo
Wells Fargo
Wells Fargo
Wells Fargo
Wells Fargo
Wells Fargo
Various
Incl Sweep, Petty cash etc
Totals - Cash
Wells Fargo
Grand Total
GL A/c
140110
140120
140121
140100
140140
140122
140130
140210
   
276010
 
Bank A/c #
 412-1375620
96-000-80161
412-1335681
 412-1335681
96-000-80176
412-1335681
96-000-80195
         
                         
Opening Balance
-
-
 (11,952)
-
 -
 (74,943)
 -
 -
 3,095,107
 3,008,212
 -
 
                         
Receipts
                       
                         
Cash Sales (from stores)
                 
-
   
Credit Card Settlements
                 
-
   
Other Settlements (Paypal, Google etc)
                 
-
   
Accounts Receivable (net of bounced checks)
                 
-
   
Sale of Assets
                 
-
   
Interest / Dividend Income
     
 271
         
 271
   
Tax Refunds Received
                 
-
   
Collections from Vendors (debit balances, refunds, returned deposits, preference actions etc)
 684
               
 684
   
Mail Order / License deposits, Other Deposits / Stale checks
                 
-
   
                         
Total Receipts
 684
-
-
 271
 -
 -
 -
 -
 -
 955
 -
 
                         
Transfers
                       
                         
Line of Credit Draw / Pay down
                 
-
 -
 
Transfers from stores to deposit a/c - sweep
                 
-
   
Transfers from concentration to refunds
                 
-
   
Transfers from concentration to payroll
                 
-
   
Other Inter-account transfers
(684)
   
 38,933
       
 (38,250)
(0)
   
Transfers from Concentration to Disbursement
   
 23,471
 (23,471)
         
-
   
                         
Total Transfers
(684)
-
 23,471
 15,463
 -
 -
 -
 -
 (38,250)
(0)
 -
 
                         
Total Receipts & Transfers
-
-
 23,471
 15,733
 -
 -
 -
 -
 (38,250)
 955
 -
 
                         
Disbursements (Reimbursements)
                       
                         
Liquidator Reimbursements (proceeds) - incl true up adjustments
                 
-
 
 N/A
Net Payroll
     
 9,067
         
 9,067
 
9,067
Payroll Taxes
     
 6,412
         
 6,412
 
6,412
401k
                 
-
 
 -
Employee Benefits (Health Insurance)
                 
-
 
 -
Sales, Use & Other Taxes
   
 1,158
           
 1,158
 
1,158
Inventory Purchases
                 
-
 
 -
Secured / Rental / Leases
   
 10,606
           
 10,606
 
 10,606
Insurance
   
60
           
 60
 
60
Administrative (utilities etc)
   
 1,025
 255
         
 1,279
 
1,279
Selling
                 
-
 
 -
Bank / Credit Card Fees / Sales audit adjs
                 
-
 
 -
Refund checks issued (net of stop payments)
                 
-
 
 -
Other (incl prior period true up / reconciling journal entries)
                 
-
 
 -
Customs / Duties / Freight
                 
-
 
 -
Interest and LC fees
                 
-
 
 -
Professional Fees
   
 9,339
           
 9,339
 
9,339
Court Approved Settlements and claim payments
                 
-
 
 -
US Trustee Quarterly Fees
   
 325
           
 325
 
 325
Court Costs
                 
-
 
 -
                         
Total Disbursements
-
-
 22,513
 15,733
 -
 -
 -
 -
 -
 38,246
 -
 38,246
                         
Net Cash Flow
-
-
 958
(0)
 -
 -
 -
 -
 (38,250)
 (37,291)
 -
 
                         
Cash - End of Month
-
-
 (10,994)
(0)
 -
 (74,943)
 -
 -
 3,056,857
 2,970,921
 -
 
                         
GL Balance 5/31/2011
-
-
 (10,994)
-
 -
 (74,943)
 -
 -
 3,056,857
 2,970,921
 -
 
 
 

 
 

 
 
 

MOR - 1b
 
TSIC, Inc. f/k/a Sharper Image Corporation
Case No 08-10322 (KG)
May 2011 Monthly Operating Report
Reporting Period 5/1/2011 - 5/31/2011
Schedule of Professional Fees Paid
 
 
This schedule contains all retained / ordinary course professional payments from case inception to current month.
 
         
Amount Paid Current Mth
   
Year (Case) to Date
 
Payee
Period Covered
Chk Number
Chk Date
 
Fees
   
Expenses
   
Fees
   
Expenses
 
                               
Conway del Genio
                      1,680,000       227,303  
Kurtzman Carson Consultants
4/1/2011 - 4/30/2011
 700669
5/26/2001
    4,520       4,819       822,585       443,403  
Bell, Boyd & Lloyd LLP
                          54,626       209  
Jackson Lewis LLP
                          22,726       1,242  
Wiley Rein LLP
                          3,457       300  
RCS Real Estate
                          50,000       -  
Gemini
                          45,000       250  
Cooley Godward Kronish LLP
                          1,104,307       29,565  
Loughlin Meghji & Co.
                          352,742       823  
Weil, Gotshal & Manges LLP
                          2,620,035       188,254  
Winston Stawn
                          10,333       817  
Womble Carlyle Sandridge & Rice
                          295,534       17,376  
Comyns Smith (tax return preparation)
                          127,786       1,349  
BDO Siedman (401 (k) auditor)
                          29,199       -  
Brann & Isaacson
                          4,499       -  
Alain Chappel (Privacy Ombudsperson)
                          18,900       300  
KPMG
                          2,775       -  
Whiteford Taylor Preston
                          21,635       3,516  
Blumling & Gumsky
                          9,812       117  
Hilco Real Estate
                          25,640       2,873  
DJM Real Estate
                          25,639       15,863  
                                       
     
Grand Total
    4,520       4,819       7,327,230       933,560  
 
 

 
 

 

MOR - 2
Case No 08-10322 (KG)
TSIC, Inc. f/k/a Sharper Image Corporation
Reporting Period 5/1/2011 - 5/31/2011
May 2011 Monthly Operating Report
 
Statement of Operations for the period 5/1/2011 through 5/31/2011
 
 

     
Full Month
   
CUM FILING
 
 
DESCRIPTION
 
5/31/2011
   
TO DATE
 
               
 
Revenues:
           
 
Gross Revenues
          97,444,531  
 
Less: Returns and Allowances
          4,968,600  
 
Net Revenue
    -       92,475,931  
                   
 
Cost of Goods Sold:
               
 
Cost of Goods Sold - Inventory (incl inventory writedowns, shrink)
    (483 )     95,064,558  
 
Gross Profit
    483       (2,588,627 )
                   
 
Operating Expenses:
               
 
Advertising
            1,099,328  
 
Auto and Truck Expense
            90  
 
Bad Debts
            797,060  
 
Contributions
            -  
 
Employee Benefit Programs
            (254,902 )
 
Insider Compensations
            80,000  
 
Insurance
    6,982       1,670,317  
 
Management Fees/ Bonuses
            875,015  
 
Office Expense
            1,000  
 
Pension & Profit-Sharing Plans
            -  
 
Repairs and Maintenance
            1,082,977  
 
Rent and Lease Expense
    10,606       12,542,803  
 
Salaries/ Commissions/ Fees
    14,264       14,041,206  
 
Supplies
            (4,279 )
 
Taxes- Payroll
    1,215       1,115,266  
 
Taxes- Real Estate
            (194 )
 
Taxes- Other
            1,120,579  
 
Travel and Entertainment
            241,885  
 
Utilities
    291       614,740  
 
Other (attach schedule)
    1,068       8,423,910  
                   
 
Total Operating Exps Before Depr
    34,426       43,446,803  
                   
 
Depreciation/Depletion/Amortization
            3,136,341  
                   
 
Net Profit (Loss)
               
 
  Before Other Income & Expenses
    (33,943 )     (49,171,771 )
                   
 
Other Income and Expenses:
               
 
Licensing Income
            1,287,964  
 
Interest Income (Expense) - incl change in Deferred Comp balance
    471       (685,800 )
 
Other Income (Expense)
            3,866,702  
                   
 
Net Profit (Loss)
    (33,472 )     (44,702,904 )
 
  Before Reorganization Items
               
                   
 
Reorganization Items:
               
 
Professional Fees
    54,366       11,934,913  
 
US Trustee Quarterly Fees
            82,000  
 
Interest Earned on Accm Case
            -  
 
Loss (Gain) from sale of assets
            59,041,448  
 
Other Reorganization Exps (see attached)
    -       (67,702,428 )
                   
 
Total Reorganization Expenses
    54,366       3,355,932  
                   
 
Net Profit (Loss)
               
 
  Before Income Taxes (Benefit)
    (87,838 )     (48,058,836 )
                   
 
Income Taxes (Benefit)
    1,078       (19,857,789 )
                   
 
Net Profit (Loss)
    (88,916 )     (28,201,048 )
 
 
 
Monthly P&L may include current month expenses plus monthly / quarterly
true ups, reconciling items or invoices/credits originating from prior periods
 
 
 

 
 

 

MOR - 2 (cont'd)
TSIC, Inc. f/k/a Sharper Image Corporation
OTHER EXPENSES
FOR THE PERIOD ENDING:  5/31/2011

 
     
5/31/2011
   
Cum Filing to date
 
 
DESCRIPTION
           
               
 
Stock option 123R
          75,439  
 
Relocation
          302,024  
 
Recruiting and Class Ads
          7,349  
 
Temporary Help
          101,361  
                 
 
Total- Personnel
    -       486,173  
                   
 
Security
            47,143  
 
Telephone
            841,121  
                   
 
Total- Occupancy
    -       888,264  
                   
 
Credit Card Fees, chargebacks, bounced checks
            856,955  
 
Delivery Income
            (915,380 )
 
Delivery Expense
            1,304,550  
 
Freight Out
            1,685,818  
 
Professional Fees
            514,363  
 
Financial Reporting
            30,787  
 
Postage & Other Freight
            217,067  
 
Internet Site Maintenance
            414,062  
 
Product Development
            26,210  
 
Telemrkt Contract Svcs
            478,685  
 
Miscellaneous Expense
    1,068       2,435,892  
                   
 
Total- Other
    1,068       7,049,008  
                   
                   
 
Total
    1,068       8,423,445  
                   
 
Other Reorganization Expenses
               
                   
 
Write off prepaids / accruals
            48,909  
 
Write off "work in progress" fixed assets
            3,053,199  
 
Adjustment to reserve for sales returns
            (13,913,495 )
 
Adjustment / writeoff of GAAP Rent and deferred landlord allowances
            (21,901,381 )
 
Proceeds from sale of leases
            (3,612,092 )
 
Clear prior quarter revenue recognition adjustments
            (665,891 )
 
Net gain on sale of paper inventory
            (60,608 )
 
Loss on sale or disposal of Inventory
            249,335  
 
Closed Store Operating Expenses not reimbursed by liquidator (note 1)
            2,627,981  
 
Settlement Discounts Allowed - Accounts Receivable
            349,723  
 
Proceeds from sale of Intellectual Property - per Asset Purchase Agreement
            (32,200,000 )
 
Settlement Discounts Received - Accounts Payable
            (1,766,482 )
                   
 
Stalking Horse Expenses
            88,375  
                   
                (67,702,428 )
 
 
* - Professional fees in "other expenses" exclude expenses
 
related to Chapter 11 filing which are reported as a separate
 
line item on Statement of Operations
   
 
Note 1 - Per Agency agreement, some operating expenses were capped or on a per diem basis. Specifically, for all closed stores, a full month of rent was paid
 
pursuant to bankruptcy regulations but company was reimbursed by agent only for the days that the store was open.


 
 

 

MOR - 3
 
TSIC, Inc. f/k/a Sharper Image Corporation
Case No 08-10322 (KG)
May 2011 Monthly Operating Report
Reporting Period 5/1/2011 - 5/31/2011
Balance Sheet as at May 31, 2011
 
 
 
     
Book Value
 
 
DESCRIPTION
 
5/31/2011
 
         
 
Current Assets:
     
 
Unrestricted Cash and Equivalents
    2,970,921  
 
Restricted Cash and Equivalents
       
 
Trade Accounts Receivable (Net)
    134,444  
 
Other Accounts Receivable (Credit cards etc)
    -  
 
Other Accounts Receivable  (Subject to set-off against AP and accrued liabilities)
    2,416,012  
 
Notes Receivable
       
 
Inventories (net of allowances and reserves)
    -  
 
Prepaid Expenses (Subject to final reconciliation and offset)
    337,469  
 
Professional Retainers
    -  
 
Deferred Income Taxes / Prepaid Income Taxes
    73,502  
 
Debit balances in AP (net of reserves)
    352,837  
           
 
Total- Current Assets
    6,285,185  
           
 
Property and Equipment:
       
 
Real Property and Improvements
    -  
 
Machinery and Equipment
    -  
 
Furniture, Fixtures and Office Equipment
    -  
 
Leasehold Improvements
    -  
 
Vehicles
    -  
 
Work In Progress
    -  
 
Less:  Accum Depreciation
    -  
           
 
Total- Property and Equipment
    -  
           
 
Other Assets:
       
 
Loans to Insiders
    -  
 
Other Assets (incl Long Term Deferred Income Tax)
    30,856  
           
 
Total- Other Assets
    30,856  
           
 
Total- Assets
    6,316,041  
           
           
 
Liabilities not subject to Compromise (Post)
       
 
Accounts Payable
    (2,244,605 )
 
Taxes Payable (refer to Form MOR-4)
    (533,924 )
 
Wages Payable
    -  
 
Notes Payable
    -  
 
Rent/ Leases- Building/ Equipment
    -  
 
Secured Debt - Line of credit
    -  
 
Other Reserves
    -  
 
Liquidation (GOB Sales) Clearing Account
    -  
 
Amounts Due to Insiders
    -  
 
Accrual for Professional Fees
    (267,579 )
 
Licensing advances received Post Petition
    (25,000 )
 
Other Post-Petition Liabilities (attach)
    -  
           
 
Total- Post-Petition Liabilities
    (3,071,108 )
           
 
Liabilities not subject to Compromise (Pre)
       
 
Secured Debt - Line of credit
    -  
 
Secured Debt - other
    -  
 
Priority Debt
    -  
 
Unsecured Debt (Accounts Payable)
    (51,420,390 )
 
Expense Accruals and Other Liabilities
    (179,427 )
 
Short Term Liabilities
    (3,554,215 )
 
Deferred (GAAP) rent / landlord allowances  / Deferred Compensation etc
    (526,174 )
 
Deferred Tax (Liability) / Asset
    -  
 
Deferred Revenue (Gift cards and Royalties)
    (33,789,666 )
 
Other Reserves and allowances
    (2,888,799 )
           
 
Total- Pre-Petition Liabilities
    (92,358,672 )
           
 
Total Liabilities
    (95,429,780 )
           
           
 
Owner's Equity
       
 
Capital Stock
    (152,132 )
 
Additional Paid-In Capital
    (116,716,579 )
 
Deferred Stock Compensation and Stock Repurchase
    180,069  
 
Retained Earnings- Pre-Petition
    177,601,333  
 
Retained Earnings- Post-Petition
    28,201,049  
           
 
Net Owner's Equity
    89,113,740  
           
           
 
Total- Liabilities and Owner's Equity
    (6,316,041 )



 
 

 

MOR - 4
 
TSIC, Inc. f/k/a Sharper Image Corporation
 Case No 08-10322 (KG)
May 2011 Monthly Operating Report
 Reporting Period 5/1/2011 - 5/31/2011
Status of Post petition Taxes
 
 

   
Beginning Tax Liability
Taxes collected / withheld March & Adjustments
Taxes
Remitted March
Closing Balance Post petition
C/Fwd Pre petition
   
Total Per GL
 
                     
Federal
                   
                     
Withholding   -                
FICA - Employee   -                
FICA - Employer   -                
Unemployment   -                
Income   -                
Other   -                
                       
Total Federal Taxes
    -   -   -   -   -       -  
                                 
State and Local
                               
                                 
Witholding   -                          
Sales
    -           -           -  
Excise ***    -                          
Unemployment   -                          
Real Property
    -                          
Personal Property **    394,484           394,484           394,484  
Other ****    139,440           139,440           139,440  
                                 
Total State and Local
    533,924   -   -   533,924   -       533,924  
                                 
Total Taxes
    533,924   -   -   533,924   -       533,924  
 
* - Refer attached payroll report for detail of all payroll taxes withheld and remitted for the period 5/1/2011 through 5/31/2011
 
** - Personal property tax accrual based on tax statements and billings received from county and state agencies - subject to further review
 
*** - excise taxes for Hawaii are included in sales taxes line
 
**** - franchise and city taxes
 
 
   
 Beginning Tax Liability
 Taxes collected
 Taxes Remitted
 Unremitted Taxes
   
Payroll Summary
 
                            -
6,412
6,412
                                           -
   
 
Based on actual paychecks during period
 
 
 
 
 
 

 
 
 

TSIC Inc f/k/a Sharper Image Corporation
P/E 5/31/2011
P/D 5/31/2011
 
 

                 
TSIC, Inc.
     
TAX LIABILITIES
     
PAGE:     1
USER ID: TSI2
     
CHECK DATE: 05-31-2011
   
RUN:   0
5/27/2011 2:03
 
 
     
C U R R E N T
Q T D
Y T D
DESCRIPTION
ST LCL
RATE
SUBJECT TO
TAX
SUBJECT TO
TAX
SUBJECT TO
TAX
                 
                 
                 
FEDERAL WITHHOLDING
   
14,264.11
3,156.72
26,764.11
6,233.70
68,735.91
15,621.82
                 
OASDI EMPLOYER
 
6.2
14,264.11
884.38
26,764.11
1,659.38
68,735.91
4,261.63
                 
OASDI EMPLOYEE
 
4.2
 
599.09
 
1,124.09
 
2,886.91
                 
FUTA EMPLOYER
 
0.8
1,764.11
14.12
1,764.11
14.12
13,235.91
105.89
                 
MHI EMPLOYER
 
1.45
14,264.11
206.83
26,764.11
388.08
68,735.91
996.67
                 
MHI EMPLOYEE
 
1.45
 
206.83
 
388.08
 
996.67
                 
STATE WITHHOLDING
CA
 
14,264.11
1,063.12
26,764.11
2,116.29
68,735.91
5,292.54
                 
SUI-ER
CA
6.2
1,764.11
109.37
1,764.11
109.37
13,235.91
820.62
                 
SDI-EE
CA 05
1.2
14,264.11
171.17
26,764.11
321.17
68,735.91
824.83
                 
**TOTAL TAX**
     
6,411.63
 
12,354.28
 
31,807.58
**Taxes sent client # 260
     
6,411.63
       
 
 

 
 

 
 

MOR 5
 
TSIC, Inc. f/k/a Sharper Image Corporation
 Case No 08-10322 (KG)
May 2011 Monthly Operating Report
 Reporting Period 5/1/2011 - 5/31/2011
Summary of Unpaid Postpetition Debts
 
(As at 5/31/2011)
 
 
 
       Number of Days Past Due  
   
 Current
 0-30
 31-60
 61-90
 Over 90
 Total
               
Accounts Payable
 
 -
7,703
 -
 25,390
2,211,512
 2,244,605
Wages Payable
           
 -
Taxes Payable
 
533,924
       
 533,924
Rent / Leases Building
 
 -
       
 -
Accrual for Professional Fees
 
267,579
       
 267,579
Royalty Advances
 
 25,000
       
25,000
               
Total Postpetition Debts
 
826,503
7,703
 -
 25,390
2,211,512
 3,071,108
 

* - Wages payable subject to final reconciliation and true up.
** - Taxes payable includes sales and use taxes, business taxes and personal property taxes - taxes classified as "current" liabilities pending further review. Nothing herein shall be deemed an admission that TSIC is liable for the amounts noted above. This MOR is without prejudice to the Debtor's right to claim that it does not owe amounts included herein.
*** - Month end balance outstanding on DIP financing.
**** - Accrual for professional fees represents an estimate of professional fees not yet entered into Accounts Payable (where invoice or Certificate of No Objection not yet received)
***** - Royalty advances reflects advance royalties received from licensees post petition
 
 
 

 
 

 

Pre Petition AP as at 5-31-2011
 
Note: Pre Petition AP is subject to further reconciliation, invoice and payment
 processing and application and review
 
 
Vendor
 
Vendor Name
  Total
80112    
ENTERGY
    (930 )
100628    
ACCU-GAGE                     
    350  
100701    
CARRERA OF AMERICA INC        
    23,061  
100776    
CARTA MUNDI INC.              
    178,500  
101477    
AIR TASER INC.                
    1,450  
101493    
AGRI-ZAP, INC.                
    650  
101576    
A.J. MORGAN                   
    1,779  
101832    
AIWA STRATEGIC ACCTS. PRTNRS  
    3,000  
101865    
YANION CO., LTD.
    -  
102319    
ALLERGY CONTROL PRODUCTS INC.
    787  
102418    
ALLIED INTERNATIONAL          
    3,702  
102467    
LINGO INTERNATIONAL CORP.     
    110,838  
102541    
ALTEC LANSING                 
    61,523  
102590    
ALIPH                         
    516,857  
102616    
AMC TRAVEL ACCESSORIES, INC.  
    54,830  
102962    
AMERICAN INTERNATIONAL TOOL   
    60  
103358    
ANGELWORKS, THE               
    133  
103952    
ANYCOM TECHNOLOGIES           
    49,184  
104042    
APPLE COMPUTER INC.           
    479,381  
104067    
APPLIANCE CORP. OF AMERICA    
    1,000  
104273    
ATOMIC TIME                   
    256  
104323    
ARCHOS, INC.                  
    211,245  
104695    
ARTEMIS WOMAN, LLC            
    14,455  
104729    
AROA MARKETING, INC.          
    267,914  
104802    
ASIA GLOBAL                   
    206  
104851    
ATLANTIC                      
    470  
105387    
BEHRINGER USE, INC.           
    270,903  
106104    
AXIZ MARKETING GROUP          
    8,250  
106138    
AVID OUTDOOR                  
    100  
107979    
BELKIN CORPORATION            
    8,408  
108050    
BENCHMARK BRANDS, INC.        
    241  
108118    
KAZ INC.                      
    75  
108183    
BERSCHRUND                    
    959  
108241    
BELVISI INT'L CO., INC.       
    178  
108407    
BIONAIRE (HOLMES)             
    233,792  
109033    
BLUE GEM SUNGLASSES           
    16  
109165    
BODYLINES                     
    2,667  
109199    
BNOX INC.                     
    134  
109207    
COOPSPORTS, INC.              
    56  
109223    
BLUEAIR                       
    10,115  
109249    
BLITZ MANUFACTURING COMPANY   
    15,049  
109900    
BOSE CORPORATION              
    79,523  
111492    
BRIEL AMERICA, INC.           
    200  
111567    
EASTERN ACCENTS               
    61  
112565    
BROOKDALE INTL SYSTEMS, INC.  
    2,580  
112755    
BUCK KNIVES                   
    1,000  
112763    
BUCKY PRODUCTS                
    133  
112953    
BYRON ORIGINALS               
    83  
113167    
CAFRAMO                       
    856  
113225    
CADDIS MFG., INC.             
    327  
113357    
CAPITAL MANUFACTURING CO.     
    423  
113688    
QUANTUM ELECTRONICS CORP.     
    543  
113696    
QUALITY SPECIAL PRODUCTS      
    320  
113951    
CAPRESSO                      
    445  
 
 
 
 
 

 
 
 
 
114447    
CATWALK                       
    463  
114488    
CAP BARBELL                   
    7,480  
114538    
CELESTRON INTERNATIONAL       
    145,461  
114751    
CATALINA TECHNOLOGIES, INC.   
    855  
114827    
CCL PRODUCT                   
    528,654  
114991    
SOLAR GLOOOOW, LTD.           
    548  
115121    
CIRCA                         
    140  
115394    
CEPIA                         
    1,040  
115485    
HSN MARKENTING                
    1,436  
115568    
COAST CUTLERY CO.             
    650  
115618    
WHITE BEAR TECHNOLOGIES, INC.
    22,515  
115931    
COHESO, INC.                  
    16,272  
117580    
COMMERCIAL TECHNOLOGY SYSTEMS
    136,624  
117622    
COMMON WEALTH ACCESSORIES     
    2,708  
119560    
COUNTRY CLUB SPORTS, INC.     
    1,200  
119982    
CREEKSIDE COLLECTION, THE     
    1,500  
120089    
CREATIVE MOTION               
    3,500  
120337    
CWR ELECTRONICS               
    95,070  
120568    
DA MERT COMPANY               
    833  
120576    
DR. LIVINGSTON, I PRESUME     
    702  
120683    
THUMPER MASSAGER, INC.
    (1,859 )
120691    
D&H DISTRIBUTING              
    (7,274 )
121210    
DA4 PRODUCTS                  
    8,680  
121327    
HELICOR INC.                  
    230,540  
122010    
DERMANEW                      
    263  
122606    
DFE INC.                      
    -  
122622    
DIGITAL BUSINESS PROCESSING   
    161,843  
123380    
DYNA FLEX                     
    119,586  
123497    
DYSON, INC.
    (2,500 )
123596    
EAR HUGGER                    
    5,673  
124396    
EDWIN MCAULEY ELECTRONICS,LTD.
    132,565  
124503    
ELCANO WOOD MODEL SHIPS       
    42  
124768    
ELECTROLUX HOME CARE          
    105,772  
124800    
ELECTRONICS TOMORROW LTD
    (8,820 )
124982    
EMJOI, INC./MOBIT             
    105,452  
124990    
EMISSIVE ENERGY CORP          
    111,205  
125070    
ENERGY TECHNOLOGY LABORATORY  
    169,436  
125138    
HONEYWELL CONSUMER PRODUCTS   
    1,009  
125211    
ENHANCER PRODUCTS             
    2,534  
125278    
ERIC BEARE ASSOCIATES LTD.
    (3,750 )
125286    
BASF CATALYSTS LLC            
    93,045  
125336    
EPILADYUSA, INC.              
    112,360  
125518    
ESSENTIAL GEAR, INC.          
    769  
125534    
ESTES-COX CORPORATION         
    127,269  
125559    
ESI, INC.
    104,235  
125724    
ETYMOTIC RESEARCH             
    2,936  
125898    
EVEREADY BATTERIES            
    100  
125963    
EXCALIBUR                     
    13,756  
126136    
LUMATEC                       
    700  
126151    
EXETER TECHNOLOGIES INC.      
    2,369  
126219    
LEAP FROG-KNOWLEDGE KIDS      
    3,234  
128025    
FITOVERS EYEWEAR USA          
    1,928  
128041    
FIUS DISTRIBUTORS, INC.
    -  
128215    
FACE-FIT MARKETING            
    544  
128827    
FLORITA NOVA                  
    38  
128918    
FLOXITE COMPANY INC           
    500  
129171    
FORESIGHT PRODUCTS, INC.      
    1,198  
129437    
KKI WORLDWIDE                 
    293  
129601    
KNG AMERICA                   
    11,580  
129627    
REEBOK INTERNATIONAL LTD.     
    64  
129700    
FRANKLIN COMPUTER             
    488,178  
 
 
 
 
 

 
 
 
 
130245    
FREDDY CONNECT PRODUCTS       
    2,633  
130427    
FRIENDLY ROBOTICS             
    1,388  
131300    
FUTAI-LEIGHTON                
    191,366  
131532    
GAMBLERS GENERAL STORE        
    370  
132050    
GARMIN INTERNATIONAL, INC.    
    1,563,439  
132472    
GEOCHRON ENTERPRISES,INC.     
    222  
133082    
RAZOR USA                     
    373,024  
133223    
GOLDEN RATIO WOODWORKS        
    1,155  
133371    
GOOSEBUMPS PRODUCTS. INC,     
    1,205  
133421    
GOOD EARTH LIGHTING INC.      
    790  
133777    
LARGUS INC.                   
    38,027  
133959    
GRIFFIN TECHNOLOGY            
    429,632  
134643    
LAMANI, INC.                  
    113  
135095    
HARTMAN PRODUCTS INC.         
    884  
135228    
HANIG & COMPANY               
    409  
135442    
TV PRODUCTS USA               
    551  
135459    
TWEEZERMAN INTERNATIONAL
    (1,269 )
136168    
HERBAL CONCEPTS               
    101,105  
136192    
HERBKO INTERNATIONAL, INC.    
    54  
136275    
HEROKA INDUSTRIES LMTD.       
    27,960  
136416    
HIDDEN GREENS, INC.           
    472  
137208    
CAN YOU IMAGINE               
    6,055  
138651    
I. LEVY SONS, INC.            
    300  
138677    
I-JAM MULTIMEDIA LLC          
    126  
138685    
I ROBOT
    (1,250 )
138701    
HUMAN TOUCH, LLC   / Interactive health
    714,854  
139162    
IDEAVILLAGE PRODUCTS CORP     
    4,413  
139568    
MIDLAND CONSUMER RADIO        
    3  
139691    
IMAGE TIME INC.               
    752  
139774    
IMS ENTERPRISES               
    104  
139980    
INTELIQUEST                   
    3,978  
140004    
INTERNATIONAL CELLULAR COMM   
    320  
140491    
INCEPTOR INC.                 
    240  
140582    
INCENTIVE CONCEPTS            
    1,898  
140608    
ION AUDIO                     
    623,497  
140616    
ITOY INC (HK) LIMITED         
    24,461  
140764    
IN2 PRODUCTS                  
    110,767  
140913    
JB RESEARCH, INC.             
    32,311  
140970    
JIFFY STEAMER COMPANY         
    4,286  
141010    
JRL TOYS                      
    1,835  
141085    
JORST INTERNATIONAL DI-ZAINS  
    27,757  
141226    
JERDON PRODUCTS INC.          
    95,455  
141309    
JCF TECHNOLOGIES              
    5,000  
141317    
JSF INDUSTRIES                
    4,218  
141358    
JUST ACCENTS                  
    188  
141499    
JETTA COMPANY LTD.            
    37,112  
141515    
JWIN ELECTRONICS CORP         
    49,427  
141523    
JIMMYJANE INC.                
    57,289  
141572    
JOSEPH ENTERPRISES, INC.      
    2,300  
141945    
KEYS FITNESS PRODUCTS         
    584  
142026    
KINCAID FURNITURE COMPANY,INC.
    11  
143362    
KUNNEX INCORPORATE            
    31,130  
143917    
KAI USA                       
    327,391  
144337    
ULTREO INC                    
    286,400  
145391    
LEKI-SPORT USA                
    3,700  
145631    
LEXAR MEDIA INC.              
    79,386  
145755    
ETON                          
    139,552  
146209    
LIFT DISPLAY                  
    333  
146464    
LITTLE TIKES CO.              
    92  
146498    
LKL INNOVATIONS               
    500  
146811    
LMC PRODUCTS INC.             
    1,400  
 
 
 
 
 

 
 
 
 
147132    
FIRESTARTER/FORMERLY LEHR JENS
    633  
147504    
MAD CATZ, INC.                
    39,298  
147538    
MAGELLAN NAVIGATION INC       
    681,306  
147744    
MANUAL WOODWORKERS & WEADERS  
    110  
147785    
MAN NIN SHING CO., LTD
    (533 )
148767    
MASTER REPLICAS LLC           
    571,664  
148957    
MAVIZEN
    (2,500 )
149013    
SALTON/MAXIM HOUSEWARES, INC.
    6,678  
149724    
MEASUREMENT SPECIALTIES, INC.
    507  
149815    
MEADE INSTRUMENTS CORPORATION
    196,404  
149856    
MEDIA STREET, INC.
    (5,750 )
149872    
MEDIA SYNDICATION             
    5,000  
149906    
ROYAL APPLIANCE MANUFACTURING
    101,248  
149914    
MEGA MARBLES/VACOR USA        
    221  
150359    
MERCHSOURCE                   
    -  
150490    
MEUCCI ORIGINALS, INC.        
    920  
152439    
MOBICOOL INTERNATIONAL        
    75,000  
152819    
MONTAGUE USA                  
    937  
152850    
GENERAL INSTRUMENT CORPORATION
    358,178  
152892    
Q RAY                         
    6,702  
152942    
MONSTER CABLE PRODUCTS, INC
    100,000  
153049    
MOBIKY USA                    
    72,222  
153056    
MOBILE-SHOP                   
    30,100  
153122    
PUREHITECH                    
    238,711  
153486    
NANDA HOME, LLC               
    140,484  
154351    
MELCO WIRE PRODUCTS COMPANY   
    176  
154930    
NEOSONICS CORP.               
    855  
155051    
NEON SOURCE                   
    500  
155432    
JUST AMERICAN MERCHANDISE INC
    1,000  
155754    
NORELCO/SONICARE              
    137,624  
155960    
NORTHERN INT'L INC.           
    2,800  
156620    
OMEGA PRODUCTS,INC.           
    250  
156752    
OLISO INC                     
    159,413  
156786    
OKO INTERNATIONAL             
    36,469  
157057    
CT GLOBAL INC.   / One for all
    11,010  
157115    
PHILIPS DAP NO. AMERICA
    (611 )
157826    
ORALGIENE                     
    250  
158204    
ORECK CORPORATION             
    946  
159590    
PAN-OPTX                      
    2,500  
159673    
180S, LLC                     
    7,746  
159897    
SWISS TECH PRODUCTS           
    54,846  
160317    
PANASONIC-DIG STILL CAMERA
    (3,750 )
161273    
PETER GORMAN                  
    712  
161307    
PHILIPS CONSUMER ELECTRONICS
    (7,939 )
161315    
PHILIPS ACCESSORIES           
    19,532  
161422    
PHORM                         
    4,450  
161554    
PITTSBURGH PLASTIC MANUF.     
    403  
161760    
PLANTRONICS, INC.             
    2,731  
161778    
PLANRITE TRADING COMPANY      
    5,459  
161810    
PHYSI-CAL ENTERPRISES
    (1,250 )
161901    
PLASTON INTERNATIONAL
    (3,177 )
161968    
POLYCONCEPTS USA, INC.        
    5,485  
162503    
THE CIT GROUP/COMMERCIAL SVCS
    (7,529 )
163006    
PRECOR, INC.                  
    1,740  
163014    
PREMIER KITES                 
    500  
163055    
PRESENTATIONS PLUS            
    274  
163071    
RETRO 1951                    
    2,499  
163097    
PREPARA                       
    9,000  
163675    
PRODYNE                       
    26,036  
163782    
ICON HEALTH & FITNESS/PROFORM
    10,000  
163931    
PRO PERFORMANCE SPORTS        
    2,571  
 
 
 
 
 

 
 
 
 
165076    
Q3 INNOVATIONS, LLC           
    4,600  
165258    
RABCO EXPANSION SYSTEMS       
    1,080  
166603    
RAINBOW LAMP CORPORATION      
    3  
167007    
RAWCLIFF CORP.                
    1,579  
167148    
RAZORGUARD, INC.              
    100  
167593    
RED STAR TRADERS, LLC         
    25,500  
167742    
RELIANCE LAMP CO., INC.       
    100  
168369    
RIALTO PRODUCTS, INC.         
    3,000  
168690    
RMP, INC.                     
    3,365  
168716    
STRAHL/CLICK CLACK!           
    1,045  
168724    
RODENSTOCK GROUP              
    2,500  
169045    
ROYAL CROWN                   
    500  
169052    
ROYAL PATINA                  
    3,000