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Previous: SITE TECHNOLOGIES INC, 8-K, EX-99.2(A), 2000-06-28 |
Next: SITE TECHNOLOGIES INC, 15-12G, 2000-06-28 |
<PAGE> 1
EXHIBIT 2(B)
UNITED STATES BANKRUPTCY COURT
NORTHERN DISTRICT OF CALIFORNIA
<TABLE>
<S> <C> <C>
In re: Site Technologies, Inc. Case No. 99-50736
------------
CHAPTER 11
MONTHLY OPERATING REPORT
(GENERAL BUSINESS CASE)
</TABLE>
SUMMARY OF FINANCIAL STATUS
<TABLE>
<S> <C>
MONTH ENDED: APR-00 PETITION DATE: 02/02/99
------ --------
</TABLE>
<TABLE>
<S> <C>
1. Debtor in possession (or trustee) hereby submits this Monthly Operating
Report on the Accrual Basis of accounting (or if checked here the Office of
the U.S. Trustee or the Court has approved the Cash Basis of Accounting for
the Debtor).
Dollars reported in $1
--
</TABLE>
<TABLE>
<CAPTION>
2. END OF CURRENT END OF PRIOR AS OF PETITION
MONTH MONTH FILING
-------------- ------------ --------------
<S> <C> <C> <C>
ASSET AND LIABILITY STRUCTURE
a. Current Assets $8,323,768 $8,422,476
b. Total Assets $8,342,151 $8,440,859 $1,149,246
c. Current Liabilities $1,543,076 $ 511,956
d. Total Liabilities $2,534,756 $1,503,636 $ 991,680
</TABLE>
<TABLE>
<CAPTION>
CUMULATIVE
CURRENT MONTH PRIOR MONTH (CASE TO DATE)
-------------- ------------ ---------------
<S> <C> <C> <C> <C>
3. STATEMENT OF CASH RECEIPTS &
DISBURSEMENTS FOR MONTH
a. Total Receipts $ 33,187 $ 35,403 $8,525,026
b. Total Disbursements $ 131,894 $ 41,299 $ 250,544
c. Excess (Deficiency) of Receipts
Over Disbursements (a-b) $ (98,708) $ (5,896) $8,274,481
d. Cash Balance Beginning of Month $8,418,752 $8,424,648 $ 45,563
e. Cash Balance End of Month (c+d) $8,320,044 $8,418,752 $8,320,044
</TABLE>
<TABLE>
<CAPTION>
CUMULATIVE
CURRENT MONTH PRIOR MONTH (CASE TO DATE)
--------------- ------------ ---------------
<S> <C> <C> <C> <C>
4. PROFIT/(LOSS) FROM THE
STATEMENT OF OPERATIONS $ 6,183,755 $7,313,482 $6,183,755
5. Account Receivables (Pre and
Post Petition) $ 0 $ 0
6. Post-Petition Liabilities $ 1,543,076 $ 511,956
7. Past Due Post-Petition Account
Payables (over 30 days) $ 160,770 $ 185,922
</TABLE>
<TABLE>
<CAPTION>
YES YES
--- ---
<S> <C> <C> <C>
AT THE END OF THIS REPORTING MONTH:
8. Have any payments been made on pre-petition debt, other than payments in the
normal course so secured creditors or lessors? (If yes, attach listing \
including date of payment, amount of payment and name of payee) X
--- ---
9. Have any payments been made to professionals?
(If yes, attach listing including date of payment, amount of payment
and name of payee) x
--- ---
</TABLE>
<TABLE>
<S> <C>
Price Waterhouse $25,000, 4/26/00
</TABLE>
<TABLE>
<S> <C> <C> <C>
10. If the answer is yes to 8 or 9, were all such payments approved by the court? x
--- ---
11. Have any payments been made to officers, insiders, shareholders, relatives?
(If yes; attach listing including date of payment, amount and reason for
payment, and name of payee) x
--- ---
12. Is the estate insured for replacement cost of assets and for general
liability? x
--- ---
13. Are a plan and disclosure statement on file? x
--- ---
14. Was there any post-petition borrowing during this reporting period? x
--- ---
</TABLE>
<TABLE>
<S> <C> <C> <C> <C>
15. Check if paid: Post-petition taxes x ; U.S. Trustee Quarterly Fees x ; Check if filing is current for: Post-petition
--- ---
tax reporting and tax returns: x
---
(Attach explanation, if post-petition taxes or U.S. Trustee Quarterly Fees
are not paid current or if post-petition tax reporting and tax return
filings are not current.)
</TABLE>
I declare under penalty of perjury I have reviewed the above summary and
attached financial statements, and after making reasonable inquiry believe
these documents are correct.
<TABLE>
<S> <C>
Date: May 22, 2000 /s/ JEFFREY F. AIT
---------------------------------------------
Responsible Individual
JEFFREY F. AIT
</TABLE>
<PAGE> 2
MURRAY & MURRAY
(GENERAL BUSINESS CASE)
FOR THE MONTH ENDED APRIL-00
ASSETS
<TABLE>
<CAPTION>
ASSETS FROM SCHEDULES MARKET VALUE
-------------- ------------
<S> <C> <C>
CURRENT ASSETS
Cash and cash equivalents - unrestricted $8,317,317
Cash and cash equivalents - restricted $ 2,727
Accounts receivable (net) A $ 0
Inventory B $ 0
Prepaid expenses
Professional retainers $ 0
Other: Faultline & J Alt $ 3,724
TOTAL CURRENT ASSETS $8,323,768
PROPERTY AND EQUIPMENT (MARKET VALUE)
Real Property C $ 0
Machinery and equipment D $ 0
Furniture and fixtures D $ 0
Office equipment D $ 0
Leasehold improvements D $ 0
Vehicles D $ 0
Other: D $ 0
TOTAL PROPERTY AND EQUIPMENT $ 0
OTHER ASSETS
Loan to shareholders
Loans to affiliates
Deposits for Carbonero Creek Lease $ 18,383
TOTAL OTHER ASSETS $ 18,383
TOTAL ASSETS $8,342,151
============
</TABLE>
NOTE: Starbase stock sold during the month of January 2000
<PAGE> 3
MURRAY & MURRAY
LIABILITIES AND EQUITY
(GENERAL BUSINESS CASE)
<TABLE>
<CAPTION>
<S> <C>
LIABILITIES FROM SCHEDULES
POST-POSITION
CURRENT LIABILITIES
Salaries and wages $ 6,300
------------
Payroll taxes $ 1,678
------------
Real and personal property taxes $ 0
------------
Income taxes $ 1,102,000
------------
Sales taxes $ 0
------------
Notes payable (short term) $ 25,004
------------
Accounts payable (trade) A $ 1,011
------------
Real property lease arrearage $ 0
------------
Personal property lease arrearage
------------
Accrued professional fees $ 177,083
------------
Current portion of long-term post-petition debt
(due within 12 months)
------------
Other: Misc unbilled expenses $ 0
------------
Accrued Employment Agrmts $ 230,000
------------
------------
TOTAL CURRENT LIABILITIES $ 1,543,076
------------
LONG-TERM POST-PETITION DEBT, NET OF CURRENT PORTION
------------
TOTAL POST-PETITION LIABILITIES $ 1,543,076
------------
PRE-PETITION LIABILITIES (ALLOWED AMOUNT)
Secured claims F $ 201,500
------------
Priority unsecured claims F $ 11,971
------------
General unsecured claims F $ 778,209
------------
TOTAL PRE-PETITION LIABILITIES $ 991,680
------------
TOTAL LIABILITIES $ 2,534,756
------------
EQUITY (DEFICIT)
Retained Earnings/(Deficit) at time of filing $(24,941,735)
------------
Capital Stock $ 24,636,190
------------
Additional paid-in capital $ 0
------------
Cumulative profit/(loss) since filing of case $ 6,183,755
------------
Post-petition contributions/(distributions) or (draws) $ 0
------------
------------
Market value adjustment $ (70,815)
------------
TOTAL EQUITY (DEFICIT) $ 5,807,395
------------
TOTAL LIABILITIES AND EQUITY (DEFICIT) $ 8,342,151
============
</TABLE>
<PAGE> 4
MURRAY & MURRAY
AGING OF POST-PETITION TAXES
(AS OF END OF THE CURRENT REPORTING PERIOD)
<TABLE>
<CAPTION>
PAYABLE 0-30 DAYS 31-60 DAYS 61-90 DAYS 91+DAYS TOTAL
------- --------- ---------- ---------- ---------- ---------
<S> <C> <C> <C> <C> <C>
FEDERAL
Income Tax Withholding $0
--------- ---------- ---------- ---------- ---------
FICA - Employee $0
--------- ---------- ---------- ---------- ---------
FICA - Employer $0
--------- ---------- ---------- ---------- ---------
Unemployment (FUTA) $0
--------- ---------- ---------- ---------- ---------
Income $0
--------- ---------- ---------- ---------- ---------
Other (Attach List) $0
--------- ---------- ---------- ---------- ---------
TOTAL FEDERAL TAXES $0 $0 $0 $0 $0
--------- ---------- ---------- ---------- ---------
STATE AND LOCAL
Income Tax Withholding $0
--------- ---------- ---------- ---------- ---------
Unemployment (UT) $0
--------- ---------- ---------- ---------- ---------
Disability Insurance (DI) $0
--------- ---------- ---------- ---------- ---------
Empl. Training Tax (ETT) $0
--------- ---------- ---------- ---------- ---------
Sales $0
--------- ---------- ---------- ---------- ---------
Exercise $0
--------- ---------- ---------- ---------- ---------
Real property $0
--------- ---------- ---------- ---------- ---------
Personal property $0
--------- ---------- ---------- ---------- ---------
Income $0
--------- ---------- ---------- ---------- ---------
Other (Attach List) $0
--------- ---------- ---------- ---------- ---------
TOTAL STATE & LOCAL TAXES $0 $0 $0 $0 $0
--------- ---------- ---------- ---------- ---------
TOTAL TAXES $0 $0 $0 $0 $0
========= ========== ========== ========== =========
</TABLE>
SCHEDULE F
PRE-PETITION LIABILITIES
<TABLE>
<CAPTION>
CLAIMED ALLOWED
LIST TOTAL CLAIMS FOR EACH CLASSIFICATION: AMOUNT AMOUNT(b)
------------------------------------------ ------- ---------
<S> <C> <C>
Secured claims(a) $201,500 $201,500
-------- --------
Priority claims other than taxes $ 11,222 $ 11,222
-------- --------
Priority tax claims $ 749 $ 749
-------- --------
General unsecured claims $778,209 $778,209
-------- --------
</TABLE>
(a) List total amount of claims even if under secured.
(b) Estimated amount of claims to be allowed after compromise or litigation. As
an example, you are a defendant in a lawsuit alleging damage of $10,000,000
and a proof of claim is filed in that amount. You believe that you can
settle the case for a claim of $3,000,000. For Schedule F reporting purposes
you should list $10,000,000 as the Claimed Amount and $3,000,000 as the
Allowed Amount.
SCHEDULE G
RENTAL INCOME INFORMATION
NOT APPLICABLE TO GENERAL BUSINESS CASES
SCHEDULE H
RECAPITULATION OF FUNDS HELD AT END OF MONTH
<TABLE>
<CAPTION>
ACCOUNT 1 ACCOUNT 2 ACCOUNT 3 ACCOUNT 4
--------- --------- --------- ---------
Comerica Comerica Van Kasper Home Savings
<S> <C> <S> <C> <C>
--------------- --------------- --------------- -------------------
Amount Type Checking Checking Stock Sale Money Market
--------------- --------------- --------------- -------------------
Amount No. 1891148932 1891148924 881300513-2
--------------- --------------- --------------- -------------------
Amount Purpose Payroll General Stock Sale State Board Deposit
--------------- --------------- --------------- -------------------
Price, End of Month $ 18,256 $ (37) $ 8,299,098 $ 2,727
--------------- --------------- --------------- -------------------
Funds on Hand for all Accounts $ 8,320,044
===============
</TABLE>
Attach copies of the month end bank statement(s), reconciliation(s), and the
check register(s) to the Monthly Operating Report.
<PAGE> 5
MURRAY & MURRAY
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
Increase/(Decrease) in Cash and Cash Equivalents
For the Month Ended April-00
<TABLE>
<CAPTION>
Actual Cumulative
Current Month (Case to Date)
------------- --------------
<S> <C> <C>
CASH RECEIPTS
Rent/Lease Collected $ 0 $ 3,799
Cash Received from Sales $ 0 $ 3,535
Interest Received $ 33,187 $ 95,762
Borrowings $ 0 $ 0
Funds from Shareholders, Partners, or Other Insiders $ 0 $ 0
Capital Contributions $ 0 $ 0
Sale of Starbase Stock $ 0 $ 8,420,693
_______________________ $ 0 $ 1,156
_______________________ $ 0 $ 81
_______________________ ______ ______
_______________________ ______ ______
TOTAL CASH RECEIPTS $ 33,187 $ 8,525,026
CASH DISBURSEMENTS
Payments for Inventory $ 0 $ 0
Selling $ $0 $ 0
Administrative $ 37,904 $ 88,052
Capital Expenditures $ 0 $ 0
Principal Payments on Debt $ 0 $ 0
Interest Paid $ 0 $ 0
Rent/Lease:
Personal Property $ 0 $ 0
Real Property $ 50,109 $ 50,109
Amount Paid to Owner(s)/Officer(s)
Salaries $ 0 $ 30,285
Draws $ 0 $ 0
Commissions/Royalties $ 0 $ 0
Expense Reimbursements $ 0 $ 0
Other $ 43,881 $ 43,881
Salaries/Commissions (less employee withholding) $ 0 $ 14,365
Management Fees $ 0 $ 0
Taxes:
Employee Withholding $ 0 $ 18,985
Employer Payroll Taxes $ 0 $ 4,866
Real Property Taxes $ 0 $ 0
Other Taxes $ 0 $ 0
Other Cash Outflows:
_______________________ ______ ______
_______________________ ______ ______
_______________________ ______ ______
_______________________ ______ ______
_______________________ ______ ______
TOTAL CASH DISBURSEMENTS: $ $131,894 $ 250,544
---------- ----------
NET INCREASE (DECREASE) IN CASH $ ($98,708) $8,274,481
---------- ----------
CASH BALANCE, BEGINNING OF PERIOD $8,418,752 $ 45,563
---------- ----------
CASH BALANCE, END OF PERIOD $8,320,044 $8,320,044
========== ==========
</TABLE>
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