EX-99.2 3 v21655exv99w2.htm EXHIBIT 99.2 exv99w2
 

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Exhibit 99.2
Office of the United States Trustee
         
In re:   DEBTOR IN POSSESSION OPERATING REPORT
     The Kushner-Locke Company
       
 
  Report Number:   54
Chapter 11
  For the Period FROM:   4/1/2006
Case No. LA 01-44828-SB (Administratively Consolidated with
  TO:   4/31/2006
Case Nos. LA 01-44829-SB through LA 01-44831-SB; LA 01-
       
44833-SB through LA 01-44836-SB; and LA 01-44841-SB)
       
1 Profit and Loss Statement (Accrual Basis Only)
                         
A. Related to Business Operations
                       
Gross Sales
          $          
 
                     
Costs Related to Revenues (Film Cost Amortization)
                       
 
                     
Gross Profit
                     
 
                     
Less: Operating Expenses
                       
Officer Compensation
    38,344                  
 
                     
Salaries and Wages — Other Employees
    14,215                  
 
                     
Total Salaries and Wages
            52,559          
 
                     
Employee Benefits and Pensions
            4,560          
 
                     
Employer Payroll Taxes/Fees
    2,142                  
 
                     
Other Taxes
    40                  
 
                     
Total Taxes
            2,182          
 
                     
Rent and Lease Expense (including parking)
    4,012                  
 
                     
Distribution/Delivery Expenses
    6,140                  
 
                     
Interest Expense
                       
 
                     
Insurance
                       
 
                     
Automobile Expense/Mileage
                       
 
                     
Utilities (incl. Phone, phone equipment, internet)
    787                  
 
                     
Depreciation and Amortization
                       
 
                     
Business Equipment Leases
                       
 
                     
Business Expense reimbursement
    744                  
 
                     
Storage Expense
    7,684                  
 
                     
Supplies, Office Expenses, Photocopies, etc.
    105                  
 
                     
Bad Debts
                       
 
                     
Miscellaneous Operating Expenses
    637                  
 
                     
Total Operating Expenses
            79,411          
 
                     
Net Gain/Loss from Business Operations
                    (79,411 )
 
                     
B. Not related to Business Operations
                       
Income
                       
Interest Income
                       
 
                     
Other Non-Operating Revenues
                     
 
                     
Gross Proceeds on Sale of Assets
                     
 
                     
Less: Original Cost of Assets plus expenses of sale
                     
 
                     
Net Gain/Loss on Sale of Assets
                     
 
                     
Total Non-Operating Income
                     
 
                     
Expenses Not Related to Business Operations
                       
Legal and Professional Service Fees
            31,026          
 
                     
Other Non-Operating Expenses (Board/Trustee fees)
                       
 
                     
Total Non-Operating Expenses
                    31,026  
 
                     
NET INCOME/(LOSS) FOR PERIOD
                  $ (110,437 )
 
                     

 


 

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DEBTOR IN POSSESSION OPERATING REPORT NO: 54
2 Aging of Accounts Payable and Accounts Receivable (exclude prepetition accounts payable):
                 
    Accounts   Accounts
    Payable   Receivable
Current Under 30 days
             
Overdue 31-60 days
           
Overdue 61-90 days
             
Overdue 91-120 days
             
Overdue Over 121 days
             
Due in the Future
    2,811       1,458,334  
TOTAL
    2,811       1,458,334  
3   Statement of Status of Payments to Secured Creditors and Lessors:
 
    No payments to Secured Creditors or Lessors were paid or payable during the reporting period.
 
4   Tax Liability
 
    No tax payments were paid or payable during the reporting period other than payroll taxes shown above.
 
5   Insurance Coverage
                 
    Carrier/   Amount of   Policy   Premium Paid
    Agent Name   Coverage   Expiration Date   Through Date
Worker’s Compensation (RENEWED)
  St. Paul   1,000,000   1/14/2007   1/14/2007
Commercial Property (RENEWED)
  St. Paul   2,000,000   2/14/2007   2/14/2007
Errors & Omissions — Library (RENEWED)
  St. Paul   3,000,000   3/3/2007   3/3/2007
6   Questions:
  A.   Has the Debtor in Possession provided compensation to any officers, directors, shareholders, or other principals without the approval of the Office of the United States Trustee?
 
      oYes                      Explain:
 
      þNo
 
  B.   Has the Debtor in Possession, subsequent to the filing of the petition, made any payments on its prepetition unsecured debt, except as authorized by the Court?
 
      oYes                     Explain:
 
      þNo
7   Statement on Unpaid Professional Fees (Postpetition Amounts Only)
 
    Total unpaid post-petition Professional Fees during the reporting period: $ 291,534.78
 
8   Narrative Report of Significant Events and Events out of the Ordinary Course of Business:
 
    None.
 
9   Quarterly Fees:
 
    Paid
 
I.   Alice Neuhauser, declare under penalty of perjury that the information contained in the above Debtor in Possession Interim Statement is true and correct to the best of my knowledge.
         
 
  /s/ Alice P. Neuhauser    
 
 
 
Debtor in Possession