-----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, SK0ysgbJOY2wy3oLtV94IqSDs22mpS9NhOt5bcsU9NoTIK66lFeWihN2uHVxL19J AmroVntSJbnw7+WvXwx6YQ== 0000950148-02-001569.txt : 20020620 0000950148-02-001569.hdr.sgml : 20020620 20020619160227 ACCESSION NUMBER: 0000950148-02-001569 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20020618 ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020619 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KUSHNER LOCKE CO CENTRAL INDEX KEY: 0000842009 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MOTION PICTURE & VIDEO TAPE PRODUCTION [7812] IRS NUMBER: 954079057 STATE OF INCORPORATION: CA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10661 FILM NUMBER: 02682333 BUSINESS ADDRESS: STREET 1: 11601 WILSHIRE BLVD 21ST FLR CITY: LOS ANGELES STATE: CA ZIP: 95202 BUSINESS PHONE: 3104812018 MAIL ADDRESS: STREET 1: 11601 WILSHIRE BLVD STREET 2: 21ST FLOOR CITY: LOS ANGELES STATE: CA ZIP: 90025 8-K 1 v82470e8vk.htm THE KUSHNER-LOCKE COMPANY FORM 8-K JUNE 18, 2002
Table of Contents

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

Date of Report: June 18, 2002

THE KUSHNER-LOCKE COMPANY

(Exact name of registrant as specified in its charter)
         
California   0-17295   95-4079057
(State or other jurisdiction of
incorporation or organization)		   (Commission
File Number) 		  (IRS Employer Identification No.)
     
8671 Wilshire Blvd., Suite 714
Beverly Hills, California
(Address of Principal Executive Offices)		  
90211
(Zip Code)

(310) 358-5508
(Registrant’s telephone number, including area code)

 

Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits.
SIGNATURE
Exhibit 99.1
Exhibit 99.2

Table of Contents

Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits.

     (a)  Financial Statements of Business Acquired.
     
       Not Applicable.

     (b)  Pro Forma Financial Information.
     
       Not Applicable.

     (c)  Exhibits.
     
       Exhibit 99.1. Monthly Operating Report Report of the Registrant for the calendar month from February 1, 2002 to February 28, 2002.
     
       Exhibit 99.2. Monthly Interim Report of the Registrant for the calendar month from February 1, 2002 to February 28, 2002.

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

     
Dated: June 18, 2002   THE KUSHNER-LOCKE COMPANY
 
    By: /s/ ALICE P. NEUHAUSER
   
    Alice P. Neuhauser
Responsible Officer

  EX-99.1 3 v82470exv99w1.txt EXHIBIT 99.1 ------------------------------------------------------------------------------ OFFICE OF THE UNITED STATES TRUSTEE ------------------------------------------------------------------------------ - ----------------------------------------------------------- --------------------------------------------------- In re: DEBTOR IN POSSESSION OPERATING REPORT The Kushner-Locke Company, et al. Debtors Report Number: 4 Page 1 of 2 ----------- Chapter 11 For the Period FROM: 2/1/2002 ----------- Case No. LA 01-44828-SB (Administratively Consolidated with TO: 2/28/2002 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 $ 251,000 ----------------- Costs Related to Revenues (Film Cost Amortization) 97,500 ----------------- Gross Profit 153,500 ------------------- Less: Operating Expenses Officer Compensation 364,041 ------------------ Salaries and Wages - Other Employees 241,611 ------------------ Total Salaries and Wages 605,652 ----------------- Employee Benefits and Pensions 14,337 ----------------- Employer Payroll Taxes/Fees 40,377 ------------------ Other Taxes - ------------------ Total Taxes 40,377 ----------------- Rent and Lease Expense (including parking) 36,000 ------------------ Distribution/Delivery Expenses 8,490 ------------------ Interest Expense - ------------------ Insurance ------------------ Automobile Expense/Mileage - ------------------ Utilities (incl. Phone, phone equipment, internet) 10,426 ------------------ Depreciation and Amortization - ------------------ Business Equipment Leases 8,071 ------------------ Business Expense reimbursement 3,587 ------------------ Storage Expense 6,298 ------------------ Supplies, Office Expenses, Photocopies, etc. 1,386 ------------------ Bad Debts - ------------------ Miscellaneous Operating Expenses 12,994 ------------------ Total Operating Expenses 747,618 ----------------- Net Gain/Loss from Business Operations (594,118) ------------------- B. Not related to Business Operations Income Interest Income 428 ----------------- 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 428 ------------------- Expenses Not Related to Business Operations Legal and Professional Service Fees (Covered by prepetition retainer) - ----------------- Other Non-Operating Expenses (Board/Trustee fees) 5,416 ----------------- Total Non-Operating Expenses 5,416 ------------------- NET INCOME/(LOSS) FOR PERIOD $ (599,106) ===================
- -------------------------------------------------------------------------------- DEBTOR IN POSSESSION OPERATING REPORT NO: 2 Page 2 of 2 - -------------------------------------------------------------------------------- 2 Aging of Accounts Payable and Accounts Receivable (exclude prepetition accounts payable):
Accounts Accounts Payable Receivable ----------------- ----------------- Current Under 30 days 2,967 - ----------------- ----------------- Overdue 31-60 days - - ----------------- ----------------- Overdue 61-90 days - 91,250 ----------------- ----------------- Overdue 91-120 days - 772,540 ----------------- ----------------- Overdue Over 121 days - 6,928,394 ----------------- ----------------- Due in the Future - 4,032,400 ----------------- ----------------- TOTAL 2,967 11,824,584 ----------------- -----------------
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 1/11/02) St. Paul 1,000,000 1/14/2003 1/14/2003 Commercial Property (RENEWED) St. Paul 2,000,000 2/14/2003 2/14/2003 Commercial Umbrella St. Paul 10,000,000 2/14/2002 2/14/2002 Guild Travel Accident Coverage Hartford 500,000 2/14/2002 2/14/2002 Crime/Fiduciary Liability Federal 1,000,000 2/14/2002 2/14/2002 Foreign GL & WC ACE American 1,000,000 2/14/2002 2/14/2002 Errors & Omissions - Productions AIG 6,000,000 3/3/2002 3/3/2002 Errors & Omissions - Library (RENEWED) St. Paul 3,000,000 3/3/2003 3/3/2003 Directors and Officers Nat'l Union 10,000,000 8/21/2002 8/21/2002 Employment Practices Liability Nat'l Union 5,000,000 10/31/2002 10/31/2002 Life, Peter Locke: (Beneficiary: Company) Jefferson 5,000,000 2/14/2002 2/14/2002 Life, Donald Kushner: (Beneficiary: Company) Lincoln 5,000,000 2/14/2002 2/14/2002
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? [ ] Yes Explain: [X] No 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? [ ] Yes Explain: [X] No 7 Statement on Unpaid Professional Fees (Postpetition Amounts Only) No post-petition Professional Fees went unpaid during the reporting period. 8 Narrative Report of Significant Events and Events out of the Ordinary Course of Business: None. 9 Quarterly Fees: None due. Quarterly Fee 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 EX-99.2 4 v82470exv99w2.txt EXHIBIT 99.2 - -------------------------------------------------------------------------------- OFFICE OF THE UNITED STATES TRUSTEE - -------------------------------------------------------------------------------- - ------------------------------------------------------------ --------------------------------------------------------------------- In re: DEBTOR IN POSSESSION INTERIM STATEMENT The Kushner-Locke Company, et al. Debtors Page 1 of 4 Statement Number: 4 - ------------------------------------------------------------ ------------------- Chapter 11 For the Period FROM: 2/1/2002 ------------------- Case No. LA 01-44828-SB (Administratively Consolidated with TO: 2/28/2002 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) - ------------------------------------------------------------ ---------------------------------------------------------------------
Kushner-Locke Post Production CASH ACTIVITY ANALYSIS (Cash Basis Only) Collateral Concentration Payroll Payroll Account Account Account Account --------------------------------------------------------------------------- Balance before Statement #1 $ 268,333.21 $ 65,956.21 $ 1,844.78 $ 257.48 --------------------------------------------------------------------------- A. Total Receipts per all Prior Interim Statements 1,138,402.84 563,060.35 178,057.06 10,767.39 --------------------------------------------------------------------------- B. Less: Total Disbursements per all Prior Statements 601,207.34 502,895.69 178,662.75 10,761.63 --------------------------------------------------------------------------- C. Beginning Balance $ 805,528.71 $ 126,120.87 $ 1,239.09 $ 263.24 --------------------------------------------------------------------------- D. Receipts during Current Period Description ----------- Daro Representation Agreement 14,985.07 Materials - Wolfgirl - Mongkol 632.00 USA Cable - Mindriper 3,333.33 Aquarius - 7 titles 14,677.50 Lifetime 56,666.66 Kirchmedia - various titles - from Lions Gate account 266,162.00 Courtroom TV 20,000.00 New World - 5 titles 5,832.00 Televisa 76,877.77 COBRA + Phone Refund 807.04 COBRA 1,105.77 Egmont Ent. - Black & White 231.06 Wire transfer between accounts 120,000.00 Wire transfer between accounts 270,000.00 Wire transfer between accounts 95,000.00 Wire transfer between accounts 205,000.00 Interest 428.00 Payroll transfers 46,792.27 Payroll transfers 25,661.66 Payroll transfers 5,539.78 Payroll transfers 10,394.72 Payroll transfers 153,795.01 Payroll transfers 71,397.05 Payroll transfers 4,206.95 Payroll transfers 130,965.51 Payroll transfers 2,631.32 Payroll transfers 41,558.52 Payroll transfers 23,643.33 Payroll transfers 5,562.01 Payroll transfers 9,798.57 Payroll transfers 326.15 Payroll transfers 181.97 Payroll transfers 58,968.41 Payroll transfers 25,535.43 Payroll transfers 8,693.58 Payroll transfers 20,418.06 TOTAL RECEIPTS THIS PERIOD 459,594.33 692,143.87 474,311.47 171,758.83 --------------------------------------------------------------------------- E. Balance Available (C plus D) $ 1,265,123.04 $ 818,264.74 $ 475,550.56 $ 172,022.07 ---------------------------------------------------------------------------
- -------------------------------------------------------------------------------- DEBTOR IN POSSESSION INTERIM STATEMENT NO: 3 Page 2 of 4 - -------------------------------------------------------------------------------- F. Less: Disbursements during Current Period: Date Check No. Payee/Purpose ---------------------------------------------- 2/05/2002 Wire transfer between accounts 120,000.00 2/12/2002 Wire transfer between accounts 270,000.00 2/19/2002 Wire transfer between accounts 95,000.00 2/26/2002 Wire transfer between accounts 205,000.00 2/05/2002 Wire transfer John Lannan Board fees 1,250.00 2/05/2002 Wire transfer Irwin Friedman Board fees 2,083.00 2/05/2002 Wire transfer Stuart Hersch Board fees 2,083.00 2/28/2002 Wire transfer to Morgan Lewis - bank attys 71,705.17 2/28/2002 Wire transfer to Doniger Fetter escrow acct. 10,000.00 F. Less: Disbursements during Current Period (continued): 2/4/2002 37112 Ayelet Agmon 941.25 2/4/2002 37113 Alberstone Enterprises 86.60 2/4/2002 37114 Bonded Services, Inc 6,298.10 2/4/2002 37115 DEAN CLEVERDON 1,760.00 2/4/2002 37116 Centauro Comunicaciones 350.00 2/4/2002 37117 DHL World Wide Express 356.40 2/4/2002 37118 Nextel 296.56 2/4/2002 37119 Pacific Bell 3,006.63 2/4/2002 37120 Sequoia Messenger Services 24.55 2/4/2002 37121 Verizon California 397.35 2/4/2002 37122 Recall 457.66 2/4/2002 37123 Bowne of Los Angeles, Inc 490.00 2/7/2002 37124 AnB Stationary 198.09 2/7/2002 37125 Point 360 258.00 2/11/2002 37126 Adelphia 111.05 2/11/2002 37127 Soris, A Division of Case Credit 2,282.99 2/11/2002 37128 DHL World Wide Express 60.43 2/11/2002 37129 Fotokem 265.76 2/11/2002 37130 New Wave Entertainment 2,786.85 2/11/2002 37131 NTFC Capital Co 2,894.05 2/11/2002 37132 Sprint 1,750.28 2/11/2002 37133 Still Photo Lab, Inc 54.00 2/13/2002 37134 New Wave Entertainment 280.50 2/13/2002 37135 Still Photo Lab, Inc 110.00 2/13/2002 37136 CFI 125.00 2/13/2002 37137 USI of Southern California 1,738.00 2/13/2002 37138 USI of Southern California 13,330.00 2/13/2002 37140 Point 360 450.00 2/15/2002 37141 Nanette Munro 25.00 2/19/2002 37143 Ayelet Agmon 967.72 2/19/2002 37144 DEAN CLEVERDON 1,232.00 2/19/2002 37145 Printo Co LTD 300.00 2/19/2002 37146 Petty Cash Reimbursement 364.81 2/19/2002 37147 AnB Stationary 183.81 2/19/2002 37148 Brett Robinson Exp. Reim. 56.97 2/20/2002 37149 Petty Cash - Movers 1,000.00 2/21/2002 37150 ATT CAlling Card 1,186.75 2/21/2002 37151 ATT Wireless 375.99 2/21/2002 37152 DHL World Wide Express 38.53 2/21/2002 37153 Digital Cellular 53.71 2/21/2002 37154 Esquire Deposition Services 542.60 2/21/2002 37155 FoodCraft 164.02 2/21/2002 37156 Pacific Bell 494.86 2/21/2002 37157 Recall 375.59 2/21/2002 37158 Scottel Voice and Data, Inc 1,116.00 2/25/2002 37159 Zerolag Communications, Inc 1,300.00 2/26/2002 37160 Blue Cross 12,371.00 2/26/2002 37161 DEAN CLEVERDON 1,760.00 2/26/2002 37162 DHL World Wide Express 214.76
- -------------------------------------------------------------------------------- DEBTOR IN POSSESSION INTERIM STATEMENT NO: 3 Page 3 of 4 - --------------------------------------------------------------------------------
F. Less: Disbursements during Current Period (continued): 2/26/2002 37163 Fortis Benefits Insurance Co. 1,966.16 2/26/2002 37164 Neopost Leasing 289.19 2/26/2002 37165 NTFC Capital Co 2,894.05 2/26/2002 37166 Point 360 1,032.75 2/26/2002 37167 Secretary of State 20.00 2/26/2002 37168 Still Photo Lab, Inc 29.60 2/27/2002 37169 DHL World Wide Express 113.84 2/27/2002 37170 DHL World Wide Express 500.00 2/27/2002 37171 AnB Stationary 540.16 2/27/2002 37172 U.S. Bankcorp 106.68 2/27/2002 37173 Nextel 249.77 2/28/2002 37174 Petty Cash - Movers 320.00 2/28/2002 37175 Petty Cash - Movers 40.00 2/28/2002 37176 Petty Cash - Movers 105.00 2/28/2002 37177 Petty Cash - Movers 120.00 2/28/2002 37178 Still Photo Lab, Inc 86.80 2/28/2002 37179 Arden Realty LTD Partnership 35,000.00 2/28/2002 37180 U.S. Bankcorp 820.69 2/28/2002 37181 Donald Kushner Exp. Reim. 2,203.22 2/28/2002 37182 New Wave Entertainment 229.50 2/28/2002 37183 Q's Billiard Club - Moving Lunch 221.00 2/05/02 Payroll transfer 46,792.27 2/05/02 Payroll transfer 25,661.66 2/05/02 Payroll transfer 5,539.78 2/05/02 Payroll transfer 10,394.72 2/13/02 Payroll transfer 153,795.01 2/13/02 Payroll transfer 71,397.05 2/13/02 Payroll transfer 4,206.95 2/13/02 Payroll transfer 130,965.51 2/15/2002 Payroll transfer 2,631.32 2/19/02 Payroll transfer 41,558.52 2/19/02 Payroll transfer 23,643.33 2/19/02 Payroll transfer 5,562.01 2/19/02 Payroll transfer 9,798.57 2/21/2002 Payroll transfer 181.97 2/21/2002 Payroll transfer 326.15 2/27/02 Payroll transfer 58,968.41 2/27/02 Payroll transfer 25,535.43 2/27/02 Payroll transfer 8,693.58 2/27/02 Payroll transfer 20,418.06 2/05/02 Payroll taxes 6,446.49 735.57 2/05/02 Payroll - to various employees 70,745.47 9,577.63 2/05/02 Garnishment 691.10 2/05/02 ADP Fees 255.49 81.52 2/13/02 Payroll taxes 15,978.67 5,883.99 2/13/02 Payroll - to various employees 213,309.69 125,000.00 2/13/02 ADP Fees 115.13 81.52 2/15/2002 Payroll - Last ck to CG 2,631.32 2/19/02 Payroll taxes 5,186.82 139.42 2/19/02 Payroll - to various employees 64,775.29 9,577.63 2/19/02 Garnishment 691.10 2/19/02 ADP Fees 326.15 181.97 2/27/02 Payroll taxes 6,044.66 290.67 2/27/02 Payroll - to various employees 85,590.19 20,045.87 2/27/02 Garnishment 1,451.92 2/27/02 ADP Fees 112.41 81.52 TOTAL DISBURSEMENTS THIS PERIOD: 761,705.17 773,658.93 474,351.90 171,677.31 --------------------------------------------------------------------------- G. Ending Balance (E less F) $ 503,417.87 $ 44,605.81 $ 1,198.66 $ 344.76 --------------------------------------------------------------------------- CHECK 503,417.87 44,605.81 1,198.66 344.76 - 0.00 0.00 (0.00)
- -------------------------------------------------------------------------------- DEBTOR IN POSSESSION INTERIM STATEMENT NO: 3 Page 4 of 4 - -------------------------------------------------------------------------------- H. (1) Collateral Account: Variance a) Depository Name and Location: Chase Bank 1 Chase Manhattan Plaza, New York, NY 10081 b) Account Number: 323221556 (2) Concentration Account: a) Depository Name and Location: Comerica Bank 10900 Wilshire Blvd, Los Angeles, CA 90024 b) Account Number: 1891935460 (3) Kushner-Locke Payroll Account: a) Depository Name and Location: Comerica Bank 10900 Wilshire Blvd, Los Angeles, CA 90024 b) Account Number: 1890694506 (4) Post Production Payroll Account: a) Depository Name and Location: Comerica Bank 10900 Wilshire Blvd, Los Angeles, CA 90024 b) Account Number: 1890694639 I: Other monies on hand: The Kushner Locke Company PWI account 1891215236 $ 1,000.00 Bank of Scotland - Pinocchio 3549485 1,241,624.53 Pounds Sterling Time Deposit (KL's interest is 70%) Bank of Scotland - Basil 3626816 192598.25 Pounds Sterling Time Deposit (KL's interest is 80%) Allied Pinocchio 10747301 4,423.11 Pounds Sterling KLI-UK 10008956 No recent statements - Less than 1,000 Pounds
I: Other monies on hand (continued): Additionally, the Company maintains a minimal amount of Petty Cash (less than $500). Joint Venture Accounts: KL MDP Sensation 60-066-930 $ 17,572.30 KL\7 Venture 1890-69-6360 9,229.05 Denial Venture 1890-69-6501 41,586.96 Cracker LLC 1891-04-1665 1,000.00 Swing 323-518095 6,957.50
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 -----END PRIVACY-ENHANCED MESSAGE-----