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 (Date of the earliest event reported): May 24, 2000
(April 20, 2000)
New York Bagel Enterprises, Inc
(Exact name of Registrant as specified in its charter)
0-21205
(Commission file number)
Kansas 73-1369185
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
115 East 8th Street
Stillwater, Oklahoma 74074
(Address of principal executive offices, including zip code)
405-624-3700
(Registrant's telephone number, including area code)
<PAGE>
Item 5. Other Events.
On May 15, 2000, New York Bagel Enterprises, Inc., filed the third monthly
report with the United States Bankruptcy Court for the District of Kansas
concerning the fiscal-month period ended April 26, 2000. The monthly report
filed with the Bankruptcy Court is filed as an exhibit, with the exception
that bank statements, check stubs, and other similar documents filed as part
of the monthly report have been omitted. Information contained in the omitted
documents has been either compiled or summarized and then incorporated into
the exhibit.
New York Bagel Enterprises, Inc., sold its remaining seventeen operating
restaurants and its trademark and franchise rights on May 12, 2000, to New
World Coffee - Manhattan Bagel, Inc., for $875,000. The Company expects to
deliver its remaining assets consisting of miscellaneous office equipment and
restaurant equipment to its secured creditor and to complete its liquidation
under Chapter 11 in the near future. It is anticipated that all liquidation
funds will be used to satisfy priority tax claims and a portion of the secured
debt and that no funds will be available for stockholders.
Item 5. Other Events.
On April 20, 2000, Lots A' Bagels, Inc., a wholly-owned subsidiary of New
York Bagel Enterprises, Inc., filed for bankruptcy under Chapter 11, affording
it protection from its creditors. Lots A' Bagels, Inc., intends a complete
liquidation of the Company. New York Bagel Enterprises, Inc., anticipates that
no funds will be available for distribution to the parent company.
On May 15, 2000, Lots A' Bagels, Inc., filed its first monthly report with
the United States Bankruptcy Court for the District of Kansas concerning the
fiscal-month period ended April 26, 2000. The monthly report filed with the
Bankruptcy Court is filed as an exhibit, with the exception that bank
statements, check stubs, and other similar documents filed as part of the
monthly report have been omitted. Information contained in the omitted
documents has been either compiled or summarized and then incorporated into the
exhibit.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
99.1 Monthly Report for New York Bagel Enterprises, Inc., for the period ended
April 26, 2000, in substantially the same form as filed on May 15, 2000,
with the United States Bankruptcy Court for the District of Kansas.
99.2 Monthly Report for Lots A' Bagels, Inc., for the period ended April 26,
2000, in substantially the same form as filed on May 15, 2000, with the
United States Bankruptcy Court for the District of Kansas.
<PAGE>
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, hereunto duly authorized.
NEW YORK BAGEL ENTERPRISES, INC.
/s/Richard Randall Webb
__________________________________________
Richard Randall Webb
Chief Executive Officer
Dated: May 24, 2000
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF KANSAS
IN RE:
NEW YORK BAGEL
CASE NO. 00-10275
DEBTOR(S) CHAPTER 11
MONTHLY REPORT
FOR MONTH OF APRIL, 2000
<PAGE>
CASE NAME: NEW YORK BAGEL ENTERPRISES, INC.
CASE NO. 00-10275
CHAPTER 11
MONTHLY REPORTING AFFIDAVIT
FOR THE MONTH ENDING APRIL 26, 2000
1 PROVIDE THE FOLLOWING INFORMATION REGARDING SALARIES/WAGES PAID/DUE.
GROSS AMOUNT OF EXECUTIVE SALARIES PAID 18,000.02
NAME TITLE
ROBERT J GERESI C E O 9,692.32
RICHARD R WEBB C F O 8,307.70
GROSS AMOUNT OF OTHER WAGES PAID 192,541.45
WERE ANY WAGES/ SALARIES DUE BUT NOT PAID FOR THIS CURRRENT MONTH?
YES X NO . IF YES, PROVIDE THE EMPLOYEE'S NAME AND TITLE
AND AMOUNT DUE.
PAYROLL PAID ON 4/28/00 SCHEDULE 1A 81,413.61
2 PROVIDE THE FOLLOWING INFORMATION REGARDING TAXES PAID/DUE.
ARE ALL POST-PETITION FEDERAL AND STATE TAXES PAID OR DEPOSITED FOR THE
PERIOD? YES NO X
PROVIDE DOLLAR DETAIL OF TAXES FOR THIS PERIOD.
AMOUNT DUE TAXES PAID
TYPE OF TAX FOR MONTH DURING MONTH
CK # DATE AMOUNT
FEDERAL WITHHOLDING 24134 APR 4, 2000 24,590.11
FICE WITHHOLDING 49,429.76 WIRE XFR APR 24,2000 24,839.65
EMPLOYER'S FICA
STATE WITHHOLDING KANSAS WIRE XFR APR 15,2000 687.83
ALABAMA WIRE XFR APR 15,2000 372.54
OKLAHOMA WIRE XFR APR 15,2000 7,161.94
SALES TAX NON PAID AS OF APRIL 26, 2000
OTHER TAXES
ATTACH PHOTOCOPIES OF IRS FORM 6123 AND SIMILAR RECEIPT FROM THE STATE
TAXING AUTHORITY TO VERIFY THE DEPOSITS OR PAYMENTS
PAGE 1 OF 3
<PAGE>
CASE NAME: NEW YORK BAGEL ENTERPRISES, INC.
CASE NO. 00-10275
CHAPTER 11
MONTHLY REPORTING AFFIDAVIT
FOR THE MONTH ENDING APRIL 26, 2000
3 DOES ALL INSURANCE COVERAGE REMAIN IN EFFECT? YES X NO
TYPE CARRIER POLICY # EXP DATE
PROPERTY DAMAGE TRAVELERS BINDER 105403 MAY 2000
LIABILITY TRAVELERS BINDER 105422 MAY 2000
WORKERS COMP PREFERRED EMPLYRS BINDER 105382 MAY 2000
PREFERRED EMPLYRS BINDER 105402 MAY 2000
OTHER
AUTOMOBILE TRAVELERS BINDER 105423 MAY 2000
PROPERTY/LIABILITY TRAVELERS BINDER 105420 MAY 2000
4 DO ALL REQUIRED LICENSES REMAIN IN EFFECT? YES X NO
DESCRIPTION RENEWAL DATE
FOOD/HEALTH VARIES BY STORE
5 LIST DEBTS INCURRED WHICH HAVE NOT BEEN PAID.
(I.E. UTLITY BILLS, REPAIR BILLS, PROFESSIONAL FEES)
DATE INCURRED CREDITOR PURPOSE AMOUNT
VARIOUS VARIOUS 15,574.26
SCHEDULE 5A
TOTAL 15,574.26
PAGE 2 OF 3
<PAGE>
CASE NAME: NEW YORK BAGEL ENTERPRISES, INC.
CASE NO. 00-10275
CHAPTER 11
MONTHLY REPORTING AFFIDAVIT
FOR THE MONTH ENDING APRIL 26, 2000
6 CHECK [ X] THAT THE FOLLOWING FORMS ARE ATTACHED:
RECEIPTS AND DISBURSEMENTS STATEMENT X
INCOME STATEMENT X
BALANCE SHEET (QUARTERLY ONLY) X
COPY OF BANK STATEMENT (S) X
FORM 6123 X
COPY OF CHAPTER 11 QUARTERLY FEE
PAYMENT REPORT (INCLUDE FOR MONTH
DURING WHICH FEE IS PAID)
I (WE) DECLARE UNDER PENALTY OF PERJURY THAT THIS REPORT AND ATTACHED
STATEMENTS ARE TRUE AND CORRECT TO THE BEST OF MY (OUR) KNOWLEDGE AND
BELIEF.
DATED: MAY 12, 2000 DEBTOR: *
CO-DEBTOR: **
* THIS REPORT MUST BE SIGNED BY AN INDIVIDUAL HAVING SUFFICIENT KNOWLEDGE
OF THE FACTS TO MAKE A TRUTHFUL AND FULL STATEMENT.
** IF THIS IS A JOINT PETITION, BOTH HUSBAND AND WIFE MUST SIGN.
NOTE: THIS REPORT AND ATTACHED STATEMENTS ARE DUE FOR EACH
CALENDAR MONTH PERIOD FROM TIME OF FILING PETITION (FIRST REPORT
WILL BE FOR A SHORT PERIOD) UNTIL THE CASE IS DISMISSED,
CONVERTED OR A PLAN IS CONFIRMED. THE REPORT IS DUE THE 15TH OF
THE MONTH FOLLOWING THE REPORTING PERIOD. (IE. JANUARY REPORT
IS DUE FEBRUARY 15TH)
REV. 6/93 PAGE 3 OF 3
<PAGE>
CASE NAME: NEW YORK BAGEL ENTERPRISES, INC.
CASE NO. 00-10275
CHAPTER 11
MONTHLY REPORTING AFFIDAVIT
FOR THE MONTH ENDING APRIL 26, 2000
BALANCE SHEET
ASSETS
CASH 49,976.53
ACCOUNTS RECEIVABLE 18,463.44
ACCOUNTS RECEIVABLE - ATOMIC BURRITO 175,000.00
CREDIT CARD RECEIVABLE 24,153.08
NOTES RECEIVABLE 11,094.31
INVENTORY 158,586.84
PREPAID - OTHER -
PREPAID INCOME TAXES 65,470.91
TOTAL CURRENT ASSETS 502,745.11
INVESTMENT IN LAB 2,787,938.43
DEPOSITS 10,729.15
LEASE ACQUISITION COST 89,980.75
TOTAL OTHER ASSETS 2,888,648.33
RESTAURANT EQUIPMENT 2,170,053.34
FURNITURE & FIXTURES 149,035.00
LEASEHOLD IMPROVEMENTS 2,837,165.84
DELIVERY VEHICLES 52,902.51
ACCUMULATED DEPRECIATION (1,794,722.31)
IMPAIRMENT RESERVE (531,370.54)
TOTAL FIXED ASSETS 2,883,063.84
TOTAL ASSETS 6,274,457.28
PROVIDE AGING DETAIL OF ACCOUNTS RECEIVABLE BELOW.
DETAIL OF ALL ACCOUNTS RECEIVABLE RELATED
PARTIES OTHERS
0 - 30 DAYS OLD 42,616.52
31 - 60 DAYS OLD
61 - 90 DAYS OLD
OVER 90 DAYS OLD 175,000.00
TOTAL
PAGE 1 OF 3
<PAGE>
CASE NAME: NEW YORK BAGEL ENTERPRISES, INC.
CASE NO. 00-10275
CHAPTER 11
MONTHLY REPORTING AFFIDAVIT
FOR THE MONTH ENDING APRIL 26, 2000
BALANCE SHEET
LIABILITIES AND STOCKHOLDERS EQUITY
CURRENT:
PRE-PETITION:
TRADE ACCOUNTS PAYABLE 960,172.42
ACCOUNTS PAYABLE - LAB 495,816.01
ACCRUED PAYROLL -
ACCRUED LEGAL 19,350.34
ACCRUED AUDIT 25,000.00
ACCRUED PROPERTY TAXES 94,572.62
ACCRUED INTEREST 60,871.68
ACCRUED OTHER 5,000.00
ACCRUED INSURANCE -
CLOSED LEASE RESERVES 283,995.38
POST-PETITION:
TRADE ACCOUNTS PAYABLE 15,574.26
ACCOUNTS PAYABLE - LAB -
ACCOUNTS PAYABLE - PAYROLL TAXES 47,775.36
ACCOUNTS PAYABLE - SALES TAXES 75,300.08
ACCRUED PAYROLL 114,541.59
ACCRUED LEGAL -
ACCRUED AUDIT -
ACCRUED PROPERTY TAXES -
ACCRUED OTHER -
ACCRUED INSURANCE 3,284.35
TOTAL CURRENT LIABILITIES 2,201,254.09
PAGE 2 OF 3
<PAGE>
LONG TERM:
PRE-PETITION
NOTES PAYABLE - BANK OF AMERICA 1,532,395.71
NOTES PAYABLE - STOCKHOLDERS 200,000.00
NOTES PAYABLE - COMMERCIAL EQUITY 85,387.77
DEBENTURES PAYABLE 48,710.93
DEFERRED RENT 81,721.40
DEFERRED TAXES PAYABLE (23,293.00)
POST-PETITION
NOTES PAYABLE - BANK OF AMERICA 100,000.00
NOTES PAYABLE - STOCKHOLDERS -
NOTES PAYABLE - COMMERCIAL EQUITY -
OTHER
TOTAL LONG-TERM LIABILITIES 2,024,922.81
COMMON STOCK 46,675.00
TREASURY STOCK (17,974.90)
ADDITIONAL PAID IN CAPITAL 13,390,769.48
RETAINED EARNINGS - PRIOR (10,950,940.95)
RETAINED EARNINGS - CURRENT YEAR (420,248.25)
TOTAL SHAREHOLDERS EQUITY 2,048,280.38
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY 6,274,457.28
PAGE 3 OF 3
<PAGE>
CASE NAME: NEW YORK BAGEL ENTERPRISES, INC.
CASE NO. 00-10275
CHAPTER 11
MONTHLY REPORTING AFFIDAVIT
FOR THE MONTH ENDING APRIL 26, 2000
INCOME STATEMENT - TOTALS
PERIOD YEAR TO DATE
INCOME - SALES 443,789.61 2,121,381.64
FRANCHISE/ROYALTY 10,000.00
OTHER INCOME 694.48 4,561.03
GAIN/(LOSS) OF SALE OF ASSETS - (243,516.85)
TOTAL INCOME 444,484.09 1,892,425.82
COST OF SALES 192,121.81 892,682.94
GROSS MARGIN 252,362.28 999,742.88
SALARIES & BENEFITS 192,796.79 891,194.35
PAYROLL TAXES 17,413.15 76,766.19
TOTAL PAYROLL RELATED EXPENSES 210,209.94 967,960.54
EXPENSES
REPAIRS & MAINTENANCE 14,195.74 43,709.84
UTILITIES 15,923.33 66,397.93
RENT EXPENSE - BUILDINGS (1,249.67) 134,313.19
RENT
EXPENSE - EQUIPMENT 1,572.82 8,294.47
RENT EXPENSE - VEHICLES 1,218.23 4,831.63
RENT EXPENSE - OTHER 531.60 1,257.20
OPERATING SUPPLIES & EXPENSES 19,488.89 79,950.44
CASH OVER/SHORT 3,355.90 9,172.08
SECURITY 116.36 887.57
BANK/CREDIT CARD SERVICE CHARGES 1,845.33 9,963.53
LEGAL/ACCOUNTING/CONSULTING 475.75 14,279.64
INSURANCE - GENERAL/WORKERS COMP 11,689.71 42,362.99
INSURANCE - HEALTH 3,923.81 18,656.44
TRAVEL EXPENSES 647.52 4,372.92
INTEREST EXPENSE - (1,738.08)
ADVERTISING AND PROMOTIONS 2,978.30 15,318.80
TOTAL EXPENSES 76,713.62 452,030.59
NET INCOME/(LOSS) (34,561.28) (420,248.25)
<PAGE>
CASE NAME: NEW YORK BAGEL ENTERPRISES, INC.
CASE NO. 00-10275
CHAPTER 11
RECEIPTS AND DISBURSEMENTS STATEMENT
FOR THE MONTH ENDING APRIL 26, 2000
1 BEGINNING CHECKBOOK BALANCE 68,477
2 CASH RECEIPTS FOR THE MONTH
COLLECTION OF ACCOUNT RECEIVABLE 56,803
CASH SALES 416,784
SALARY -
PROCEED FROM LOANS -
GOVERNMENT PAYMENTS -
OTHER (INTEREST, DIVIDENDS, GIFTS) -
TOTAL CASH RECEIPTS FOR THE MONTH 473,587
3 CASH DISBURSEMENTS FOR THE MONTH
PAYROLL (TWO CYCLES) 163,764
PAYROLL TAXES 57,652
SALES TAXES
PAID OUTS AT THE STORE LOCATIONS 220,981
BANK STATEMENTS 2,315
ACCOUNTS PAYABLE CHECKS 47,375
492,087
4 ENDING CHECKBOOK BALANCE (1+2-3) 49,977
CASH SUMMARY - END OF MONTH
ACCOUNT NO OR LOCATION
PETTY CASH/CASH ON HAND ALL STORES 8,548
REGULAR CHECKING MAIN OPERATING ACCOUNT (4,147)
OKC MAIN ACCOUNT 9,107
TULSA MAIN ACCOUNT 2,600
WICHITA MAIN ACCOUNT 3,205
ALABAMA MAIN ACCOUNT (1,795)
CORPORATE ACCOUNT 819
ASSET ACCOUNT 85
STORE 11 ACCOUNT 420
STORE 12 ACCOUNT 1,943
STORE 13 ACCOUNT 2,006
PAYROLL/TAX ACCOUNT MAIN PAYROLL ACCT IN STILL 27,187
CD
OTHER
TOTAL (SHOULD AGREE WITH 4. ABOVE) 49,977
NOTE: A COPY OF A BANK STATEMENT FROM EACH BANK ACCOUNT AND A
RECONCILIATION BETWEEN THE STATEMENT AND YOUR CHECKBOOK MUST ACCOMPANY
THIS STATEMENT.
<PAGE>
CASE NAME: NEW YORK BAGEL ENTERPRISES, INC.
CASE NO. 00-10275
CHAPTER 11
MONTHLY REPORTING AFFIDAVIT
ATTACHMENT TO CASH RECEIPTS AND DISBURSEMENTS STATEMENT
FOR THE MONTH ENDING APRIL 26, 2000
LIST OF DISBURSEMENTS
NAME OF VENDOR CK # DESCRIPTION AMOUNT
INSURANCE MANAGEMENT 51002 W/C GENERAL LIABILITY 15,561.00
OK STATE DEPT OF HEALTH 51003 HEALTH LICENSE 70.00
KGE KANSAS GAS 51004 UTILITIES 5,176.99
QUALITY WATER 51005 SUPPLIES 40.44
OKLAHOMA GAS ELECTRIC 51006 UTILITIES 2,807.06
S W BELL 51007 UTILITIES 240.80
CITY OF THE VILLAGE 51008 UTILITIES 243.12
OKLAHOMA NATURAL GAS 51009 UTILITIES 848.52
PSO 51010 UTILITIES 1,132.48
AIRBORNE EXPRESS 51011 SUPPLIES 233.85
ADT SECURITY 51012 SECURITY 28.24
HAGAR RESTAURANT 51013 REPAIRS 92.00
S W BELL 51014 UTILITIES 1,138.35
CITY OF OKLAHOMA CITY 51015 UTILITIES 254.43
ALL AMERICAN WASTE 51016 UTILITIES 528.35
TULSA FRUIT 51017 COST OF SALES 45.40
FALCON CAPITAL 51018 VEHICLE LEASE 299.43
NUCO2 51019 SUPPLIES 334.47
ALABAMA GAS 51020 UTILITIES 158.90
RANDY WEBB 51021 TRAVEL/SUPPLIES 219.68
ORKIN EXTERMINATING 51022 UTILITIES 38.50
PAYROLL EXPRESS 51023 PAYROLL SERVICE 929.50
IOS CAPITAL 51024 EQUIPMENT RENTAL 362.37
PITNEY BOWES 51025 SUPPLIES 31.70
BUSINESS TRANSACTIONS 51026 SUPPLIES 108.50
S W BELL 51027 UTILITIES 372.44
BFI TULSA 51029 UTILITIES 249.98
OKLAHOMA GAS ELECTRIC 51030 UTILITIES 702.07
S W BELL 51031 UTILITIES 221.61
CITY OF STILLWATER 51032 UTILITIES 845.10
S W BELL 51033 UTILITIES 108.42
OKLAHOMA NATURAL GAS 51034 UTILITIES 421.46
PSO 51035 UTILITIES 2,734.16
CITY OF TULSA 51036 UTILITIES 435.26
CITY OF NORMAN 51037 UTILITIES 439.77
AIRBORNE EXPRESS 51038 SUPPLIES 320.14
S W BELL 51039 UTILITIES 616.10
LUCENT TECHNOLOGIES 51040 EQUIPMENT RENTAL 312.79
TULSA FRUIT 51041 COST OF SALES 192.20
GTE SOUTHWEST 51042 UTILITIES 153.64
TCI CABLEVISION 51043 UTILITIES 45.47
ALABAM POWER 51044 UTILITIES 973.70
FALCON CAPITAL 51045 VEHICLE LEASE 257.71
NUCO2 51046 SUPPLIES 51.26
RANDY WEBB 51047 TRAVEL/SUPPLIES 402.87
BFI WICHITA 51048 UTILITIES 370.84
PRINCIPLE LIFE 51049 HEALTH INSURANCE 6,130.02
VOICESTREAM WIRELESS 51050 UTILITIES 53.90
PITNEY BOWES 51051 SUPPLIES 39.74
PAYROLL (PAY ENDING 3/31 & 4/14) 163,763.99
PAYROLL TAXES 57,652.07
SALES TAXES (NOT PAID AS OF 4/26/00) -
PAID OUTS
COST OF GOODS SOLD 187,192.59
UTILITIES
REPAIRS & MAINTENANCE 14,103.74
SUPPLIES 18,328.80
CASH SHORTAGES 1,355.90
BANK STATEMENTS
SERVICE CHARGES 879.52
EQUIPMENT RENTAL 144.31
CREDIT CARD DISCOUNTS 1,037.81
BAD CHECKS 253.49
TOTAL DISBURSEMENTS FOR PERIOD 492,086.95
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF KANSAS
IN RE:
LOTS A' BAGELS
CASE NO. 00-11443
DEBTOR(S) CHAPTER 11
MONTHLY REPORT
FOR MONTH OF APRIL, 2000 (APRIL 20 THRU APRIL 26)
<PAGE>
CASE NAME: LOTS A' BAGELS
CASE NO. 00-11443
CHAPTER 11
MONTHLY REPORTING AFFIDAVIT
FOR THE MONTH ENDING APRIL 26, 2000 (APRIL 20 THRU APRIL 26)
1 PROVIDE THE FOLLOWING INFORMATION REGARDING SALARIES/WAGES
PAID/DUE.
GROSS AMOUNT OF EXECUTIVE SALARIES PAID -
NAME TITLE
RICHARD R WEBB C F O -
GROSS AMOUNT OF OTHER WAGES PAID
WERE ANY WAGES/ SALARIES DUE BUT NOT PAID FOR THIS CURRRENT
MONTH? YES X NO . IF YES, PROVIDE THE EMPLOYEE'S NAME
AND TITLE AND AMOUNT DUE.
PAYROLL PAID ON 4/28/00 SCHEDULE 1A 29,970.72
2 PROVIDE THE FOLLOWING INFORMATION REGARDING TAXES PAID/DUE.
ARE ALL POST-PETITION FEDERAL AND STATE TAXES PAID OR DEPOSITED
FOR THE PERIOD? YES NO X
PROVIDE DOLLAR DETAIL OF TAXES FOR THIS PERIOD.
AMOUNT DUE TAXES PAID
TYPE OF TAX FOR MONTH DURING MONTH
CK # DATE AMOUNT
FEDERAL WITHHOLDING NONE PAID OR DUE AS OF APRIL 26, 2000
FICE WITHHOLDING NONE PAID OR DUE AS OF APRIL 26, 2000
EMPLOYER'S FICA NONE PAID OR DUE AS OF APRIL 26, 2000
STATE WITHHOLDING NONE PAID OR DUE AS OF APRIL 26, 2000
SALES TAX NONE PAID OR DUE AS OF APRIL 26, 2000
THIS REPORT IS FOR A STUB PERIOD FROM APRIL 20 TO APRIL 26, 2000 NOTHING WAS
DUE DURING THIS TIME
OTHER TAXES
ATTACH PHOTOCOPIES OF IRS FORM 6123 AND SIMILAR RECEIPT FROM THE STATE
TAXING AUTHORITY TO VERIFY THE DEPOSITS OR PAYMENTS
PAGE 1 OF 3
<PAGE>
CASE NAME: LOTS A' BAGELS
CASE NO. 00-11443
CHAPTER 11
MONTHLY REPORTING AFFIDAVIT
FOR THE MONTH ENDING APRIL 26, 2000 (APRIL 20 THRU APRIL 26)
3 DOES ALL INSURANCE COVERAGE REMAIN IN EFFECT? YES X NO
TYPE CARRIER POLICY # EXP DATE
PROPERTY DAMAGE TRAVELERS BINDER 105412 MAY 2000
LIABILITY TRAVELERS BINDER 105412 MAY 2000
WORKERS COMP PREFERRED EMPLYRS BINDER 105382 MAY 2000
PREFERRED EMPLYRS BINDRE 105402 MAY 2000
OTHER
AUTOMOBILE TRAVELERS BINDER 105423 MAY 2000
PROPERTY/LIABILITY TRAVELERS BINDER 105422 MAY 2000
4 DO ALL REQUIRED LICENSES REMAIN IN EFFECT? YES X NO
DESCRIPTION RENEWAL DATE
FOOD/HEALTH VARIES BY STORE
5 LIST DEBTS INCURRED WHICH HAVE NOT BEEN PAID.
(I.E. UTLITY BILLS, REPAIR BILLS, PROFESSIONAL FEES)
DATE INCURRED CREDITOR PURPOSE AMOUNT
VARIOUS VARIOUS 190,276.77
SCHEDULE 5A
TOTAL 190,276.77
PAGE 2 OF 3
<PAGE>
CASE NAME: LOTS A' BAGELS
CASE NO. 00-11443
CHAPTER 11
MONTHLY REPORTING AFFIDAVIT
FOR THE MONTH ENDING APRIL 26, 2000 (APRIL 20 THRU APRIL 26)
6 CHECK [ X] THAT THE FOLLOWING FORMS ARE ATTACHED:
RECEIPTS AND DISBURSEMENTS STATEMENT X
INCOME STATEMENT X
BALANCE SHEET (QUARTERLY ONLY) X
COPY OF BANK STATEMENT (S) X
FORM 6123
COPY OF CHAPTER 11 QUARTERLY FEE
PAYMENT REPORT (INCLUDE FOR MONTH
DURING WHICH FEE IS PAID)
I (WE) DECLARE UNDER PENALTY OF PERJURY THAT THIS REPORT AND ATTACHED
STATEMENTS ARE TRUE AND CORRECT TO THE BEST OF MY (OUR) KNOWLEDGE AND
BELIEF.
DATED: MAY 12, 2000 DEBTOR: *
CO-DEBTOR: **
* THIS REPORT MUST BE SIGNED BY AN INDIVIDUAL HAVING SUFFICIENT KNOWLEDGE
OF THE FACTS TO MAKE A TRUTHFUL AND FULL STATEMENT.
** IF THIS IS A JOINT PETITION, BOTH HUSBAND AND WIFE MUST SIGN.
NOTE: THIS REPORT AND ATTACHED STATEMENTS ARE DUE FOR EACH
CALENDAR MONTH PERIOD FROM TIME OF FILING PETITION (FIRST
REPORT WILL BE FOR A SHORT PERIOD) UNTIL THE CASE IS DISMISSED,
CONVERTED OR A PLAN IS CONFIRMED. THE REPORT IS DUE THE 15TH
OF THE MONTH FOLLOWING THE REPORTING PERIOD. (IE. JANUARY
REPORT IS DUE FEBRUARY 15TH)
REV. 6/93 PAGE 3 OF 3
<PAGE>
CASE NAME: LOTS A' BAGELS
CASE NO. 00-11443
CHAPTER 11
MONTHLY REPORTING AFFIDAVIT
FOR THE MONTH ENDING APRIL 26, 2000
BALANCE SHEET
ASSETS
CASH 60,670.02
ACCOUNTS RECEIVABLE 20,402.45
CREDIT CARD RECEIVABLE 3,809.50
INTERCOMPANY NYBE 496,965.29
INVENTORY 46,596.48
PREPAID - OTHER -
PREPAID INCOME TAXES
TOTAL CURRENT ASSETS 628,443.74
GOODWILL 852,115.43
DEPOSITS 21,696.25
NONCOMPETE AGREEMENT 5,000.00
ACCUM AMORT INTANGIBLES (87,739.94)
TOTAL OTHER ASSETS 791,071.74
RESTAURANT EQUIPMENT 716,167.23
FURNITURE & FIXTURES 9,312.81
LEASEHOLD IMPROVEMENTS 1,365,974.00
DELIVERY VEHICLES
ACCUMULATED DEPRECIATION (615,669.03)
TOTAL FIXED ASSETS 1,475,785.01
TOTAL ASSETS 2,895,300.49
PROVIDE AGING DETAIL OF ACCOUNTS RECEIVABLE BELOW.
DETAIL OF ALL ACCOUNTS RECEIVABLE RELATED
PARTIES OTHERS
0 - 30 DAYS OLD 24,211.95
31 - 60 DAYS OLD
61 - 90 DAYS OLD
OVER 90 DAYS OLD
TOTAL
PAGE 1 OF 2
<PAGE>
CASE NAME: LOTS A' BAGELS
CASE NO. 00-11443
CHAPTER 11
MONTHLY REPORTING AFFIDAVIT
FOR THE MONTH ENDING APRIL 26, 2000
BALANCE SHEET
LIABILITIES AND STOCKHOLDERS EQUITY
CURRENT:
PRE-PETITION:
TRADE ACCOUNTS PAYABLE 190,276.77
ACCRUED PAYROLL 54,172.79
ACCRUED PAYROLL TAXES 8,307.11
ACCRUED SALES TAX PAYABLE 6,243.60
ACCRUED PROPERTY TAXES 46,948.04
ACCRUED WORKERS COMP PAYABLE 8,388.73
ACCRUED INSURANCE 240.88
INCOME TAX PAYABLE 65,470.91
POST-PETITION:
TRADE ACCOUNTS PAYABLE 920.02
TOTAL CURRENT LIABILITIES 380,968.85
LONG TERM:
PRE-PETITION
DEFERRED TAXES PAYABLE 23,293.00
POST-PETITION
OTHER
TOTAL LONG-TERM LIABILITIES 23,293.00
COMMON STOCK 100.00
TREASURY STOCK -
ADDITIONAL PAID IN CAPITAL 2,787,838.43
RETAINED EARNINGS - PRIOR (144,859.25)
RETAINED EARNINGS - CURRENT YEAR (152,040.54)
TOTAL SHAREHOLDERS EQUITY 2,491,038.64
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY 2,895,300.49
PAGE 2 OF 2
<PAGE>
CASE NAME: LOTS A' BAGELS
CASE NO. 00-11443
CHAPTER 11
MONTHLY REPORTING AFFIDAVIT
FOR THE MONTH ENDING APRIL 26, 2000
INCOME STATEMENT - TOTALS
APRIL 20 - 26TH APRIL
STUB POST PETT PERIOD YEAR TO DATE
INCOME - SALES 41,183.73 178,017.94 768,148.67
OTHER INCOME - - -
TOTAL INCOME 41,183.73 178,017.94 768,148.67
COST OF SALES 10,296.60 52,148.26 201,981.77
GROSS MARGIN 30,887.13 125,869.68 566,166.90
SALARIES & BENEFITS - 75,001.13 328,922.85
PAYROLL TAXES - 6,110.90 27,466.34
TOTAL PAYROLL RELATED EXPENSES - 81,112.03 356,389.19
EXPENSES
REPAIRS & MAINTENANCE - 2,064.73 11,880.44
UTILITIES - 2,472.62 28,372.49
RENT EXPENSE - BUILDINGS - 35,487.20 127,944.77
RENT EXPENSE - EQUIPMENT - 513.41 2,053.64
RENT EXPENSE - VEHICLES - 4,858.64 20,197.28
OPERATING SUPPLIES & EXPENSES 63.01 1,428.87 28,930.60
CASH OVER/SHORT - (148.42) 2,010.98
PROPERTY TAXES - - 9,000.00
BANK/CREDIT CARD SERVICE CHARGES - 1,478.53 5,864.19
LEGAL/ACCOUNTING/CONSULTING - 10,978.75 12,072.25
INSURANCE - 8,388.73 44,037.80
ADVERTISING AND PROMOTIONS - 474.10 13,627.50
DEPRECIATION/AMORTIZATION - - 55,826.31
TOTAL EXPENSES 63.01 67,997.16 361,818.25
NET INCOME/(LOSS) 30,824.12 (23,239.51) (152,040.54)
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CASE NAME: LOTS A' BAGELS
CASE NO. 00-11443
CHAPTER 11
RECEIPTS AND DISBURSEMENTS STATEMENT
FOR THE MONTH ENDING APRIL 26, 2000 (APRIL 20 THRU APRIL 26)
1 BEGINNING CHECKBOOK BALANCE (BALANCE AT 4/20/00) 29,846
2 CASH RECEIPTS FOR THE MONTH
COLLECTION OF ACCOUNT RECEIVABLE -
CASH SALES 41,184
SALARY -
PROCEED FROM LOANS -
GOVERNMENT PAYMENTS -
OTHER (INTEREST, DIVIDENDS, GIFTS) -
TOTAL CASH RECEIPTS FOR THE MONTH 41,184
3 CASH DISBURSEMENTS FOR THE MONTH
PAYROLL -
PAYROLL TAXES -
SALES TAXES -
PAID OUTS AT THE STORE LOCATIONS -
BANK STATEMENTS -
ACCOUNTS PAYABLE CHECKS 10,360
10,360
4 ENDING CHECKBOOK BALANCE (1+2-3) 60,670
CASH SUMMARY - END OF MONTH
ACCOUNT NO OR LOCATION
PETTY CASH/CASH ON HAND ALL STORES 5,452
REGULAR CHECKING MAIN OPERATING ACCOUNT 13,281
PUEBLO ACCOUNT 6,728
AUSTIN BLUFFS ACCOUNT 193
CENTENNIAL ACCOUNT 691
PAYROLL/TAX ACCOUNT MAIN PAYROLL ACCT 34,325
CD
OTHER
TOTAL (SHOULD AGREE WITH 4. ABOVE) 60,670
NOTE: A COPY OF A BANK STATEMENT FROM EACH BANK ACCOUNT AND A
RECONCILIATION BETWEEN THE STATEMENT AND YOUR CHECKBOOK MUST ACCOMPANY
THIS STATEMENT.
<PAGE>
CASE NAME: LOTS A' BAGELS
CASE NO. 00-11443
CHAPTER 11
MONTHLY REPORTING AFFIDAVIT
ATTACHMENT TO CASH RECEIPTS AND DISBURSEMENTS STATEMENT
FOR THE MONTH ENDING APRIL 26, 2000 (APRIL 20 THRU APRIL 26)
LIST OF DISBURSEMENTS
NAME OF VENDOR CK # DESCRIPTION AMOUNT
SINTON DAIRY 51002 COST OF GOODS SOLD 1,325.33
SINTON DAIRY 51003 COST OF GOODS SOLD 1,306.55
SYSCO 51004 COST OF GOODS SOLD 7,664.72
US POSTMASTER 51005 SUPPLIES 3.20
SNO WHITE LINEN 51006 SUPPLIES 59.81
TOTAL DISBURSEMENTS FOR PERIOD 10,359.61
