<PAGE>
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
May 18, 1999
Commission File Number: 0-22281
SCOOP, INC.
(Exact name of Registrant as specified in its charter)
Delaware 33-0726608
(State or other jurisdiction of (I.R.S. Employer ID No.)
incorporation or organization)
1800 Century Park East, Suite 600
Los Angeles, CA
90067
(Address of principal executive offices)
(Zip Code)
(949) 225-6000
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
<PAGE>
INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events.
Scoop, Inc. has filed with the United States Bankruptcy Court
for the Central District of California its monthly operating
reports for the months ended November 30, 1998, December 31,
1998, January 31, 1999, February 28, 1999 and March 31, 1999.
A copy of these operating reports are attached hereto as
Exhibits 99.1, 99.2, 99.3, 99.4 and 99.5.
Item 7. Exhibits
EXHIBIT
Exhibit 99.1 -- Monthly operating report for the month ended November 30, 1998
Exhibit 99.2 -- Monthly operating report for the month ended December 31,
1998
Exhibit 99.3 -- Monthly operating report for the month ended January 31, 1999
Exhibit 99.4 -- Monthly operating report for the month ended February 28, 1999
Exhibit 99.5 -- Monthly operating report for the month ended March 31, 1999
2
<PAGE>
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.
SCOOP, INC.
Date: May 18, 1999
/s/ Rand Bleimeister
--------------------------------
Rand Bleimeister
Chief Executive Officer, President
Chief Financial Officer and Chairman of the Board
/s/ Kristy Allan
---------------------------------
Kristy Allan
Principal Accounting Officer
3
<PAGE>
EXHIBIT INDEX
<TABLE>
<CAPTION>
EXHIBIT PAGE
- ------- ----
<S> <C>
Exhibit 99.1 -- Monthly operating report for the month ended
November 30, 1998
Exhibit 99.2 -- Monthly operating report for the month ended
December 31, 1998
Exhibit 99.3 -- Monthly operating report for the month ended
January 31, 1999
Exhibit 99.4 -- Monthly operating report for the month ended
February 28, 1999
Exhibit 99.5 -- Monthly operating report for the month ended
March 31, 1999
</TABLE>
<PAGE>
-----------------------------------
Office of the United States Trustee
-----------------------------------
- --------------------------------------------------------------------------------
In re:
DEBTOR IN POSSESSION OPERATING REPORT
SCOOP, INC., a Delaware corporation
Report Number: 4 Page 1 of 3
---
Debtor. For the period FROM: 11/1/98
-----------------
TO: 11/30/98
-----------------
- ----------------------------------------
Chapter 11 Case No: SA 98-20799 RA
- --------------------------------------------------------------------------------
<TABLE>
<S> <C> <C> <C>
1. Profit and Loss Statement (ACCRUAL BASIS ONLY)
A. Related to Business Operations:
Gross Sales 0.00
--------------------
Less: Sales Returns and Discounts 4,551.10
--------------------
Net Sales (4,551.10)
--------------------
Less: Cost of Goods Sold:
Beginning Inventory at Cost NO INVENTORY N/A
--------------------
Add: Purchases N/A
--------------------
Less: Ending Inventory at Cost N/A
--------------------
Cost of Goods Sold 41,610.33
--------------------
Gross Profit (46,161.43)
------------------
Other Operating Revenues (Specify) 0.00
------------------
Less: Operating Expenses:
Officer Compensation 0.00
--------------------
Salaries and Wages -- Other Employees (commissions) 925.24
--------------------
Total Salaries and Wages 925.24
--------------------
Employee Benefits and Pensions 0.00
--------------------
Payroll Taxes 17.66
--------------------
Real Estate Taxes
--------------------
Federal and State Income Taxes
--------------------
Total Taxes 17.66
--------------------
Rent and Lease Exp. (Real Property and Personal Property)
--------------------
Interest Expense (Mortgage, Loan, etc.) 0.00
--------------------
Insurance 0.00
--------------------
Automobile Expense 0.00
--------------------
Utilities (Gas, Electricity, Water, Telephone, etc.) 0.00
--------------------
Depreciation and Amortization 0.00
--------------------
Repairs and Maintenance 0.00
--------------------
Advertising 0.00
--------------------
Supplies, Office Expenses, Photocopies, etc. 156.23
--------------------
Bad Debts 0.00
--------------------
Miscellaneous Operating Expenses (Printing/Filing 8K) 500.00
--------------------
Total Operating Expenses 1,599.13
--------------------
Net Gain/Loss from Business Operations (47,760.56)
------------------
B. Not Related to Business Operations:
Income:
Interest Income 3,539.20
--------------------
Other Non-Operating Revenues (Specify)
--------------------
Gross Proceeds on Sale of Assets (Deposit on Merger) 50,000.00
--------------------
Less: Original Cost of Assets plus Expenses of Sale
--------------------
Net Gain/Loss of Sale of Assets 50,000.00
--------------------
Total Non-Operating Income 53,539.20
------------------
Expenses Not Related to Business Operations:
Legal and Professional Fees (Lobel & Opera) 11,413.89
--------------------
Other Non-Operating Expenses (Bleimeister/Allan) 4,759.92
--------------------
Total Non-Operating Expenses 16,173.81
------------------
NET INCOME / LOSS FOR PERIOD (10,395.17)
------------------
</TABLE>
- --------------------------------------------------------------------------------
Revised April 1989 OPERATING REPORT UST-4
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
DEBTOR IN POSSESSION OPERATING REPORT NO: ___2__ Page 2 of 3
- --------------------------------------------------------------------------------
2. Aging of Accounts Payable and Accounts Receivable (exclude pre-petition
accounts payable):
<TABLE>
<CAPTION>
--------------------------------- ------------------------------
Accounts Payable Accounts Receivable
--------------------------------- ------------------------------
<S> <C> <C> <C>
--------------------------------- ------------------------------
Current Under 30 Days 767.06
--------------------------------- ------------------------------
Overdue 31 - 60 Days 4,403.48
--------------------------------- ------------------------------
Overdue 61 - 90 Days 4,126.10
--------------------------------- ------------------------------
Overdue 91 - 120 Days 23,471.80
--------------------------------- ------------------------------
Overdue Over 121 Days
--------------------------------- ------------------------------
TOTAL 5,170.54 27,597.90
--------------------------------- ------------------------------
</TABLE>
3. State of Status of Payments to Secured Creditors and Lessors:
<TABLE>
<CAPTION>
------------------------------ ---------------------- ---------------- ----------------- --------------------------------
Frequency Post-Petition
of Payments Per Amount Next Payments Not Made*
Creditor/ Contract / Lease of Each Payment
Lessor (i.e., mo., qtr.) Payment Due Number Amount
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
<S> <C> <C> <C> <C> <C>
Village Plaza Associates mo 7,607 none 2 15,214
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
</TABLE>
*Explanation for Non-Payment:
-----------------------------------------------
- --------------------------------------------------------------------------------
4. Tax Liability:
Gross Payroll Expense for Period: $ 17.66
-------------
Gross Sales for Period Subject to Sales Tax
$ 0.00
-------------
<TABLE>
---------------------- ----------------------- --------------------
Post-Petition
taxes Still
Date Paid Amount Paid* Owing
---------------------- ----------------------- --------------------
<S> <C> <C> <C>
Federal Payroll and Withholding Taxes 11/24/98 1,552.81 178.91
---------------------- ----------------------- --------------------
State Payroll and Withholding Taxes 314.16
---------------------- ----------------------- --------------------
State Sales and Use Taxes 11/30/98 456.00 0.00
---------------------- ----------------------- --------------------
Real Property Taxes
---------------------- ----------------------- --------------------
</TABLE>
* Attach photocopies of depository receipts from taxing authorities
or financial institutions to verify that such deposits or payments
have been made.
5. Insurance Coverage:
<TABLE>
<CAPTION>
------------------- ------------------ ------------------ ----------------
Carrier / Amount Policy Premium
Agent of Expiration Paid Through
Name Coverage Date Date
------------------- ------------------ ------------------ ----------------
<S> <C> <C> <C> <C>
Worker's Compensation
------------------- ------------------ ------------------ ----------------
Liability
------------------- ------------------ ------------------ ----------------
Fire and Extended Coverage
------------------- ------------------ ------------------ ----------------
Property
------------------- ------------------ ------------------ ----------------
Theft
------------------- ------------------ ------------------ ----------------
Life (Beneficiary: )
---------------------- ------------------- ------------------ ------------------ ----------------
Vehicle
------------------- ------------------ ------------------ ----------------
Other (Specify):
---------------------- ------------------- ------------------ ------------------ ----------------
Director and Officer Insurance Carolina Casualty 3,000,000 4/8/99 4/8/99
------------------------------------------ ------------------- ------------------ ------------------ ----------------
------------------------------------------ ------------------- ------------------ ------------------ ----------------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
DEBTOR IN POSSESSION OPERATING REPORT NO: _____ Page 3 of 3
- --------------------------------------------------------------------------------
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 pre-petition unsecured debt,
except as have been authorized by the Court:
/ / Yes Explain:
----------------------------------------------
/X/ No
7. Statement of Unpaid Professional Fees (Post-Petition Amounts ONLY)
<TABLE>
<CAPTION>
---------------------------------------- ------------------------------ --------------------------
State Type of Total Post-
Professional Petition Amount
Name of Professional (Attorney/Accountant/etc.) Unpaid
---------------------------------------- ------------------------------ --------------------------
<S> <C> <C>
Lobel, Opera & Friedman Attorney 130,872
---------------------------------------- ------------------------------ --------------------------
---------------------------------------- ------------------------------ --------------------------
---------------------------------------- ------------------------------ --------------------------
---------------------------------------- ------------------------------ --------------------------
---------------------------------------- ------------------------------ --------------------------
</TABLE>
8. Narrative Report of Significant Events and Events out of the Ordinary Course
of Business: (ATTACH SEPARATE SHEET IF NECESSARY)
Debtor received draft stock purchase agreement from Infinicom. Debtor
is preparing its plan and disclosure statement and claims analysis.
-----------------------------------------------------------------------------
Debtor negotiated letter of intent with Infinicom. Debtor is preparing it
-----------------------------------------------------------------------------
claims analysis.
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
9. Quarterly Fees: (This Fee must be paid to the United States Trustee
every calendar quarter)
<TABLE>
<CAPTION>
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
Quarterly Total Quarterly
Period Disbursements Quarterly Date Amount Check Fee Still
Ending For Quarter Fee Paid Paid No. Owing
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
<S> <C> <C> <C> <C> <C> <C>
9/30/98 321,808 3,750.00 11/4/98 3,750.00 1144 0
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
</TABLE>
I, (Name/Title: Kristy Allan, Chief Accounting Officer),
----------------------------------------
declare under penalty of perjury that the information contained in the above
Debtor in Possession Operating Report is true and complete to the best of my
knowledge.
Dated: January 21, 1999
--------------------------
------------------------------------------
Debtor in Possession or Trustee
<PAGE>
-------------------------------------------
Office of the United States Trustee
--------------------------------------------
- --------------------------------------------------------------------------------
In re:
DEBTOR IN POSSESSION OPERATING REPORT
SCOOP, INC., a Delaware corporation
Report Number: 5 Page 1 of 3
---
Debtor. For the period FROM: 12/1/98
------------------
TO: 12/31/98
------------------
- --------------------------------------
Chapter 11 Case No: SA 98-20799 RA
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
<S> <C> <C> <C>
1. Profit and Loss Statement (ACCRUAL BASIS ONLY)
A. Related to Business Operations:
Gross Sales 0.00
--------------------
Less: Sales Returns and Discounts
--------------------
Net Sales 0.00
--------------------
Less: Cost of Goods Sold:
Beginning Inventory at Cost NO INVENTORY N/A
--------------------
Add: Purchases N/A
--------------------
Less: Ending Inventory at Cost N/A
--------------------
Cost of Goods Sold 3,918.00
--------------------
Gross Profit (3,918.00)
------------------
Other Operating Revenues (Specify) 0.00
------------------
Less: Operating Expenses:
Officer Compensation 0.00
--------------------
Salaries and Wages -- Other Employees (commissions) 257.30
--------------------
Total Salaries and Wages 257.30
--------------------
Employee Benefits and Pensions 0.00
--------------------
Payroll Taxes 16.78
--------------------
Real Estate Taxes
--------------------
Federal and State Income Taxes
--------------------
Total Taxes 16.78
--------------------
Rent and Lease Exp. (Real Property and Personal Property)
--------------------
Interest Expense (Mortgage, Loan, etc.) 0.00
--------------------
Insurance 0.00
--------------------
Automobile Expense 0.00
--------------------
Utilities (Gas, Electricity, Water, Telephone, etc.) 0.00
--------------------
Depreciation and Amortization 0.00
--------------------
Repairs and Maintenance 0.00
--------------------
Advertising 0.00
--------------------
Supplies, Office Expenses, Photocopies, etc. 99.59
--------------------
Bad Debts 0.00
--------------------
Miscellaneous Operating Expenses (credit card discounts)
--------------------
Total Operating Expenses 373.67
--------------------
Net Gain/Loss from Business Operations (4,291.67)
------------------
B. Not Related to Business Operations:
Income:
Interest Income 3,183.01
--------------------
Other Non-Operating Revenues (Specify)
--------------------
Gross Proceeds on Sale of Assets
--------------------
Less: Original Cost of Assets plus Expenses of Sale
--------------------
Net Gain/Loss of Sale of Assets
--------------------
Total Non-Operating Income 3,183.01
------------------
Expenses Not Related to Business Operations:
Legal and Professional Fees (Pachulski, Stand etc.) 65,053.90
--------------------
Other Non-Operating Expenses (Bleimeister/Allan) 4,525.36
--------------------
Total Non-Operating Expenses 69,579.26
------------------
NET INCOME / LOSS FOR PERIOD (70,687.92)
------------------
</TABLE>
- --------------------------------------------------------------------------------
Revised April 1989 OPERATING REPORT UST-4
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
DEBTOR IN POSSESSION OPERATING REPORT NO: ___2__ Page 2 of 3
- --------------------------------------------------------------------------------
2. Aging of Accounts Payable and Accounts Receivable (exclude pre-petition
accounts payable):
<TABLE>
<CAPTION>
--------------------------------- ------------------------------
Accounts Payable Accounts Receivable
--------------------------------- ------------------------------
<S> <C> <C>
Current Under 30 Days 5,087.11
--------------------------------- ------------------------------
Overdue 31 - 60 Days 5,170.54
--------------------------------- ------------------------------
Overdue 61 - 90 Days 1,939.00
--------------------------------- ------------------------------
Overdue 91 - 120 Days 20,058.90
--------------------------------- ------------------------------
Overdue Over 121 Days
--------------------------------- ------------------------------
TOTAL 10,257.65 21,997.90
--------------------------------- ------------------------------
</TABLE>
3. State of Status of Payments to Secured Creditors and Lessors:
<TABLE>
<CAPTION>
------------------------------ ---------------------- ---------------- ----------------- --------------------------------
Frequency Post-Petition
of Payments Per Amount Next Payments Not Made*
Creditor/ Contract / Lease of Each Payment
Lessor (i.e., mo., qtr.) Payment Due Number Amount
------------------------------ ---------------------- ---------------- ----------------- --------------------------------
<S> <C> <C> <C> <C> <C>
Village Plaza Associates mo 7,607 none 2 15,214
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
</TABLE>
*Explanation for Non-Payment:
-------------------------------------------------
-----------------------------------------------------------------------
4. Tax Liability:
Gross Payroll Expense for Period: $ 16.78
----------
Gross Sales for Period Subject to Sales Tax $ 0.00
----------
<TABLE>
<CAPTION>
---------------------- ----------------------- --------------------
Post-Petition
taxes Still
Date Paid Amount Paid* Owing
---------------------- ----------------------- --------------------
<S> <C> <C> <C>
Federal Payroll and Withholding Taxes 178.91
---------------------- ----------------------- --------------------
State Payroll and Withholding Taxes 314.16
---------------------- ----------------------- --------------------
State Sales and Use Taxes
---------------------- ----------------------- --------------------
Real Property Taxes
---------------------- ----------------------- --------------------
</TABLE>
* Attach photocopies of depository receipts from taxing authorities or
financial institutions to verify that such deposits or payments have
been made.
5. Insurance Coverage:
<TABLE>
<CAPTION>
------------------- ------------------ ------------------ ----------------
Carrier / Amount Policy Premium
Agent of Expiration Paid Through
Name Coverage Date Date
------------------- ------------------ ------------------ ----------------
<S> <C> <C> <C> <C>
Worker's Compensation
------------------- ------------------ ------------------ ----------------
Liability
------------------- ------------------ ------------------ ----------------
Fire and Extended Coverage
------------------- ------------------ ------------------ ----------------
Property
------------------- ------------------ ------------------ ----------------
Theft
------------------- ------------------ ------------------ ----------------
Life (Beneficiary: )
---------------------- ------------------- ------------------ ------------------ ----------------
Vehicle
------------------- ------------------ ------------------ ----------------
Other (Specify):
---------------------- ------------------- ------------------ ------------------ ----------------
Director and Officer Insurance Carolina Casualty 3,000,000 4/8/99 4/8/99
------------------------------------------ ------------------- ------------------ ------------------ ----------------
------------------------------------------ ------------------- ------------------ ------------------ ----------------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
DEBTOR IN POSSESSION OPERATING REPORT NO: _____ Page 3 of 3
- --------------------------------------------------------------------------------
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 pre-petition unsecured debt,
except as have been authorized by the Court:
/ / Yes Explain:
--------------------------------------------------
/X/ No
7. Statement of Unpaid Professional Fees (Post-Petition Amounts ONLY)
<TABLE>
<CAPTION>
---------------------------------------- ------------------------------ --------------------------
State Type of Total Post-
Professional Petition Amount
Name of Professional (Attorney/Accountant/etc.) Unpaid
---------------------------------------- ------------------------------ --------------------------
<S> <C> <C>
Lobel, Opera & Friedman Attorney 82,808
---------------------------------------- ------------------------------ --------------------------
---------------------------------------- ------------------------------ --------------------------
---------------------------------------- ------------------------------ --------------------------
---------------------------------------- ------------------------------ --------------------------
---------------------------------------- ------------------------------ --------------------------
</TABLE>
8. Narrative Report of Significant Events and Events out of the Ordinary Course
of Business: (ATTACH SEPARATE SHEET IF NECESSARY)
Debtor received draft stock purchase agreement from Infinicom. Debtor
is preparing its plan and disclosure statement and claims analysis.
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
9. Quarterly Fees: (This Fee must be paid to the United States Trustee every
calendar quarter)
<TABLE>
<CAPTION>
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
Quarterly Total Quarterly
Period Disbursements Quarterly Date Amount Check Fee Still
Ending For Quarter Fee Paid Paid No. Owing
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
<S> <C> <C> <C> <C> <C> <C>
9/30/98 321,808 3,750.00 11/4/98 3,750.00 1144 0
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
</TABLE>
I, (Name/Title: Kristy Allan, Chief Accounting Officer), declare under
--------------------------------------
penalty of perjury that the information contained in the above Debtor in
Possession Operating Report is true and complete to the best of my knowledge.
Dated: January 21, 1999
---------------------
-----------------------------------------
Debtor in Possession or Trustee
<PAGE>
-------------------------------------------------------------
Office of the United States Trustee
-------------------------------------------------------------
- --------------------------------------------------------------------------------
In re:
DEBTOR IN POSSESSION OPERATING REPORT
SCOOP, INC., a Delaware corporation
Report Number: 6 Page 1 of 3
---------
Debtor. For the period FROM: 1/1/99
------------------
TO: 1/31/99
------------------
- --------------------------------------
Chapter 11 Case No: SA 98-20799 RA
- --------------------------------------------------------------------------------
<TABLE>
<S> <C> <C> <C>
1. Profit and Loss Statement (ACCRUAL BASIS ONLY)
A. Related to Business Operations:
Gross Sales 0.00
--------------------
Less: Sales Returns and Discounts
--------------------
Net Sales 0.00
--------------------
Less: Cost of Goods Sold:
Beginning Inventory at Cost NO INVENTORY N/A
--------------------
Add: Purchases N/A
--------------------
Less: Ending Inventory at Cost N/A
--------------------
Cost of Goods Sold 2,216.00
--------------------
Gross Profit (2,216.00)
------------------
Other Operating Revenues (Specify) 0.00
------------------
Less: Operating Expenses:
Officer Compensation 0.00
--------------------
Salaries and Wages -- Other Employees (commissions) 311.82
--------------------
Total Salaries and Wages 311.82
--------------------
Employee Benefits and Pensions 0.00
--------------------
Payroll Taxes
--------------------
Real Estate Taxes
--------------------
Federal and State Income Taxes 250.00
--------------------
Total Taxes 250.00
--------------------
Rent and Lease Exp. (Real Property and Personal Property) 1,607.27
--------------------
Interest Expense (Mortgage, Loan, etc.) 0.00
--------------------
Insurance 0.00
--------------------
Automobile Expense 0.00
--------------------
Utilities (Gas, Electricity, Water, Telephone, etc.) 0.00
--------------------
Depreciation and Amortization 0.00
--------------------
Repairs and Maintenance 0.00
--------------------
Advertising 0.00
--------------------
Supplies, Office Expenses, Photocopies, etc. 513.42
--------------------
Bad Debts 0.00
--------------------
Miscellaneous Operating Expenses (credit card discounts)
--------------------
Total Operating Expenses 2,682.51
--------------------
Net Gain/Loss from Business Operations (4,898,51)
------------------
B. Not Related to Business Operations:
Income:
Interest Income 2,910.91
--------------------
Other Non-Operating Revenues (Specify)
--------------------
Gross Proceeds on Sale of Assets
--------------------
Less: Original Cost of Assets plus Expenses of Sale
--------------------
Net Gain/Loss of Sale of Assets
--------------------
Total Non-Operating Income 2,910.91
------------------
Expenses Not Related to Business Operations:
Legal and Professional Fees (Lobel, Opera & Friedman) 11,809.25
--------------------
Other Non-Operating Expenses (Qtrly. Fee/Trustee) 3,750.00
--------------------
Total Non-Operating Expenses 15,559.25
------------------
NET INCOME / LOSS FOR PERIOD (17,546.85)
------------------
</TABLE>
- --------------------------------------------------------------------------------
Revised April 1989 OPERATING REPORT UST-4
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
DEBTOR IN POSSESSION OPERATING REPORT NO: ___2__ Page 2 of 3
- --------------------------------------------------------------------------------
2. Aging of Accounts Payable and Accounts Receivable (exclude pre-petition
accounts payable):
<TABLE>
<CAPTION>
--------------------------------- ------------------------------
Accounts Payable Accounts Receivable
--------------------------------- ------------------------------
<S> <C> <C> <C>
Current Under 30 Days 400.00
--------------------------------- ------------------------------
Overdue 31 - 60 Days 565.00
--------------------------------- ------------------------------
Overdue 61 - 90 Days 400.00 17,043.54
--------------------------------- ------------------------------
Overdue 91 - 120 Days 3,400.00
--------------------------------- ------------------------------
Overdue Over 121 Days
--------------------------------- ------------------------------
TOTAL 4,765.00 17,043.54
--------------------------------- ------------------------------
</TABLE>
3. State of Status of Payments to Secured Creditors and Lessors:
<TABLE>
<CAPTION>
------------------------------ ---------------------- ---------------- ----------------- --------------------------------
Frequency Post-Petition
of Payments Per Amount Next Payments Not Made*
Creditor/ Contract / Lease of Each Payment
Lessor (i.e., mo., qtr.) Payment Due Number Amount
------------------------------ ---------------------- ---------------- ----------------- --------------------------------
<S> <C> <C> <C> <C> <C>
Village Plaza Associates mo 7,607 none
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
</TABLE>
*Explanation for Non-Payment:
--------------------------------------------------
- --------------------------------------------------------------------------------
4. Tax Liability:
Gross Payroll Expense for Period: $ 0.00
--------
Gross Sales for Period Subject to Sales Tax $ 0.00
--------
<TABLE>
<CAPTION>
---------------------- ----------------------- --------------------
Post-Petition
taxes Still
Date Paid Amount Paid* Owing
---------------------- ----------------------- --------------------
<S> <C> <C> <C>
Federal Payroll and Withholding Taxes 3/4/99 178.91 70.12
---------------------- ----------------------- --------------------
State Payroll and Withholding Taxes 3/2/99 314.16 13.60
---------------------- ----------------------- --------------------
State Sales and Use Taxes
---------------------- ----------------------- --------------------
Real Property Taxes
---------------------- ----------------------- --------------------
</TABLE>
* Attach photocopies of depository receipts from taxing authorities or
financial institutions to verify that such deposits or payments have
been made.
5. Insurance Coverage:
<TABLE>
<CAPTION>
------------------- ------------------ ------------------ ----------------
Carrier / Amount Policy Premium
Agent of Expiration Paid Through
Name Coverage Date Date
------------------- ------------------ ------------------ ----------------
<S> <C> <C> <C> <C>
Worker's Compensation
------------------- ------------------ ------------------ ----------------
Liability
------------------- ------------------ ------------------ ----------------
Fire and Extended Coverage
------------------- ------------------ ------------------ ----------------
Property
------------------- ------------------ ------------------ ----------------
Theft
------------------- ------------------ ------------------ ----------------
Life (Beneficiary: )
---------------------- ------------------- ------------------ ------------------ ----------------
Vehicle
------------------- ------------------ ------------------ ----------------
Other (Specify):
---------------------- ------------------- ------------------ ------------------ ----------------
Director and Officer Insurance Carolina Casualty 3,000,000 4/8/99 4/8/99
------------------------------------------ ------------------- ------------------ ------------------ ----------------
------------------------------------------ ------------------- ------------------ ------------------ ----------------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
DEBTOR IN POSSESSION OPERATING REPORT NO: _____ Page 3 of 3
- --------------------------------------------------------------------------------
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 pre-petition unsecured debt,
except as have been authorized by the Court:
/ / Yes Explain:
----------------------------------------------
/X/ No
7. Statement of Unpaid Professional Fees (Post-Petition Amounts ONLY)
<TABLE>
<CAPTION>
---------------------------------------- ------------------------------ --------------------------
State Type of Total Post-
Professional Petition Amount
Name of Professional (Attorney/Accountant/etc.) Unpaid
---------------------------------------- ------------------------------ --------------------------
<S> <C> <C>
Lobel, Opera & Friedman Attorney 82,808
---------------------------------------- ------------------------------ --------------------------
---------------------------------------- ------------------------------ --------------------------
---------------------------------------- ------------------------------ --------------------------
---------------------------------------- ------------------------------ --------------------------
---------------------------------------- ------------------------------ --------------------------
</TABLE>
8. Narrative Report of Significant Events and Events out of the Ordinary Course
of Business: (ATTACH SEPARATE SHEET IF NECESSARY)
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
9. Quarterly Fees: (This Fee must be paid to the United States Trustee
every calendar quarter)
<TABLE>
<CAPTION>
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
Quarterly Total Quarterly
Period Disbursements Quarterly Date Amount Check Fee Still
Ending For Quarter Fee Paid Paid No. Owing
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
<S> <C> <C> <C> <C> <C> <C>
9/30/98 321,808 3,750.00 11/4/98 3,750.00 1144 0
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
12/31/98 417,763 3,750.00 1/22/99 3,750.00 1178 0
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
</TABLE>
I, (Name/Title: Kristy Allan, Chief Accounting Officer), declare under
--------------------------------------
penalty of perjury that the information contained in the above Debtor in
Possession Operating Report is true and complete to the best of my knowledge.
Dated: March 16, 1999
----------------------------
-------------------------------------------
Debtor in Possession or Trustee
<PAGE>
-----------------------------------
Office of the United States Trustee
-----------------------------------
- --------------------------------------------------------------------------------
In re:
DEBTOR IN POSSESSION OPERATING REPORT
SCOOP, INC., a Delaware corporation
Report Number: 7 Page 1 of 3
---
Debtor. For the period FROM: 2/1/99
-----------------
TO: 2/28/99
-----------------
- ----------------------------------------
Chapter 11 Case No: SA 98-20799 RA
- --------------------------------------------------------------------------------
<TABLE>
<S> <C> <C> <C>
1. Profit and Loss Statement (ACCRUAL BASIS ONLY)
A. Related to Business Operations:
Gross Sales 0.00
--------------------
Less: Sales Returns and Discounts
--------------------
Net Sales 0.00
--------------------
Less: Cost of Goods Sold:
Beginning Inventory at Cost NO INVENTORY N/A
--------------------
Add: Purchases N/A
--------------------
Less: Ending Inventory at Cost N/A
--------------------
Cost of Goods Sold
--------------------
Gross Profit
------------------
Other Operating Revenues (Specify) 0.00
------------------
Less: Operating Expenses:
Officer Compensation 0.00
--------------------
Salaries and Wages -- Other Employees (commissions) 38.46
--------------------
Total Salaries and Wages 38.46
--------------------
Employee Benefits and Pensions 0.00
--------------------
Payroll Taxes 83.72
--------------------
Real Estate Taxes
--------------------
Federal and State Income Taxes
--------------------
Total Taxes 83.72
--------------------
Rent and Lease Exp. (Real Property and Personal Property) 1,409.22
--------------------
Interest Expense (Mortgage, Loan, etc.) 0.00
--------------------
Insurance 0.00
--------------------
Automobile Expense 0.00
--------------------
Utilities (Gas, Electricity, Water, Telephone, etc.) 0.00
--------------------
Depreciation and Amortization 0.00
--------------------
Repairs and Maintenance 0.00
--------------------
Advertising 0.00
--------------------
Supplies, Office Expenses, Photocopies, etc. 443.09
--------------------
Bad Debts 1,833.65
--------------------
Miscellaneous Operating Expenses (credit card discounts)
--------------------
Total Operating Expenses 3,808.14
--------------------
Net Gain/Loss from Business Operations 3.808.14
------------------
B. Not Related to Business Operations:
Income:
Interest Income 2,917.95
--------------------
Other Non-Operating Revenues (Specify)
--------------------
Gross Proceeds on Sale of Assets
--------------------
Less: Original Cost of Assets plus Expenses of Sale
--------------------
Net Gain/Loss of Sale of Assets
--------------------
Total Non-Operating Income 2,917.95
------------------
Expenses Not Related to Business Operations:
Legal and Professional Fees (Lobel, Opera & Friedman) 14,012.77
--------------------
Other Non-Operating Expenses (Bleimeister/Allan) 1,678.25
--------------------
Total Non-Operating Expenses 15,691.02
------------------
NET INCOME / LOSS FOR PERIOD (16,581.21)
------------------
</TABLE>
- --------------------------------------------------------------------------------
Revised April 1989 OPERATING REPORT UST-4
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
DEBTOR IN POSSESSION OPERATING REPORT NO: ___2__ Page 2 of 3
- --------------------------------------------------------------------------------
2. Aging of Accounts Payable and Accounts Receivable (exclude pre-petition
accounts payable):
<TABLE>
<CAPTION>
--------------------------------- ------------------------------
Accounts Payable Accounts Receivable
--------------------------------- ------------------------------
<S> <C> <C> <C>
--------------------------------- ------------------------------
Current Under 30 Days 400.00
--------------------------------- ------------------------------
Overdue 31 - 60 Days 400.00
--------------------------------- ------------------------------
Overdue 61 - 90 Days 565.00
--------------------------------- ------------------------------
Overdue 91 - 120 Days 400.00 14,472.64
--------------------------------- ------------------------------
Overdue Over 121 Days 3,400.00
--------------------------------- ------------------------------
TOTAL 5,165.00 14,472.64
--------------------------------- ------------------------------
</TABLE>
3. State of Status of Payments to Secured Creditors and Lessors:
<TABLE>
<CAPTION>
------------------------------ ---------------------- ---------------- ----------------- --------------------------------
Frequency Post-Petition
of Payments Per Amount Next Payments Not Made*
Creditor/ Contract / Lease of Each Payment
Lessor (i.e., mo., qtr.) Payment Due Number Amount
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
<S> <C> <C> <C> <C> <C>
Village Plaza Associates mo 7,607 none
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
</TABLE>
*Explanation for Non-Payment:
-----------------------------------------------
- --------------------------------------------------------------------------------
4. Tax Liability:
Gross Payroll Expense for Period: $ 83.72
-------------
Gross Sales for Period Subject to Sales Tax
$ 0.00
-------------
<TABLE>
---------------------- ----------------------- --------------------
Post-Petition
taxes Still
Date Paid Amount Paid* Owing
---------------------- ----------------------- --------------------
<S> <C> <C> <C>
Federal Payroll and Withholding Taxes 3/4/99 178.91 70.12
---------------------- ----------------------- --------------------
State Payroll and Withholding Taxes 3/2/99 314.16 13.60
---------------------- ----------------------- --------------------
State Sales and Use Taxes
---------------------- ----------------------- --------------------
Real Property Taxes
---------------------- ----------------------- --------------------
</TABLE>
* Attach photocopies of depository receipts from taxing authorities
or financial institutions to verify that such deposits or payments
have been made.
5. Insurance Coverage:
<TABLE>
<CAPTION>
------------------- ------------------ ------------------ ----------------
Carrier / Amount Policy Premium
Agent of Expiration Paid Through
Name Coverage Date Date
------------------- ------------------ ------------------ ----------------
<S> <C> <C> <C> <C>
Worker's Compensation
------------------- ------------------ ------------------ ----------------
Liability
------------------- ------------------ ------------------ ----------------
Fire and Extended Coverage
------------------- ------------------ ------------------ ----------------
Property
------------------- ------------------ ------------------ ----------------
Theft
------------------- ------------------ ------------------ ----------------
Life (Beneficiary: )
---------------------- ------------------- ------------------ ------------------ ----------------
Vehicle
------------------- ------------------ ------------------ ----------------
Other (Specify):
---------------------- ------------------- ------------------ ------------------ ----------------
Director and Officer Insurance Carolina Casualty 3,000,000 4/8/99 4/8/99
------------------------------------------ ------------------- ------------------ ------------------ ----------------
------------------------------------------ ------------------- ------------------ ------------------ ----------------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
DEBTOR IN POSSESSION OPERATING REPORT NO: _____ Page 3 of 3
- --------------------------------------------------------------------------------
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 pre-petition unsecured debt,
except as have been authorized by the Court:
/ / Yes Explain:
----------------------------------------------
/X/ No
7. Statement of Unpaid Professional Fees (Post-Petition Amounts ONLY)
<TABLE>
<CAPTION>
---------------------------------------- ------------------------------ --------------------------
State Type of Total Post-
Professional Petition Amount
Name of Professional (Attorney/Accountant/etc.) Unpaid
---------------------------------------- ------------------------------ --------------------------
<S> <C> <C>
Lobel, Opera & Friedman Attorney 82,808
---------------------------------------- ------------------------------ --------------------------
---------------------------------------- ------------------------------ --------------------------
---------------------------------------- ------------------------------ --------------------------
---------------------------------------- ------------------------------ --------------------------
---------------------------------------- ------------------------------ --------------------------
</TABLE>
8. Narrative Report of Significant Events and Events out of the Ordinary Course
of Business: (ATTACH SEPARATE SHEET IF NECESSARY)
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
9. Quarterly Fees: (This Fee must be paid to the United States Trustee
every calendar quarter)
<TABLE>
<CAPTION>
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
Quarterly Total Quarterly
Period Disbursements Quarterly Date Amount Check Fee Still
Ending For Quarter Fee Paid Paid No. Owing
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
<S> <C> <C> <C> <C> <C> <C>
9/30/98 321,808 3,750.00 11/4/98 3,750.00 1144 0
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
12/31/98 417,763 3,750.00 1/22/99 3,750.00 1178 0
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
</TABLE>
I, (Name/Title: Kristy Allan, Chief Accounting Officer),
----------------------------------------
declare under penalty of perjury that the information contained in the above
Debtor in Possession Operating Report is true and complete to the best of my
knowledge.
Dated: March 16, 1999
--------------------------
------------------------------------------
Debtor in Possession or Trustee
<PAGE>
-----------------------------------
Office of the United States Trustee
-----------------------------------
- --------------------------------------------------------------------------------
In re:
DEBTOR IN POSSESSION OPERATING REPORT
SCOOP, INC., a Delaware corporation
Report Number: 8 Page 1 of 3
---
Debtor. For the period FROM: 3/1/99
-----------------
TO: 3/31/99
-----------------
- ----------------------------------------
Chapter 11 Case No: SA 98-20799 RA
- --------------------------------------------------------------------------------
<TABLE>
<S> <C> <C> <C>
1. Profit and Loss Statement (ACCRUAL BASIS ONLY)
A. Related to Business Operations:
Gross Sales 0.00
--------------------
Less: Sales Returns and Discounts
--------------------
Net Sales 0.00
--------------------
Less: Cost of Goods Sold:
Beginning Inventory at Cost NO INVENTORY N/A
--------------------
Add: Purchases N/A
--------------------
Less: Ending Inventory at Cost N/A
--------------------
Cost of Goods Sold
--------------------
Gross Profit
------------------
Other Operating Revenues (Specify) 0.00
------------------
Less: Operating Expenses:
Officer Compensation 0.00
--------------------
Salaries and Wages -- Other Employees (commissions) 0.00
--------------------
Total Salaries and Wages
--------------------
Employee Benefits and Pensions 0.00
--------------------
Payroll Taxes
--------------------
Real Estate Taxes
--------------------
Federal and State Income Taxes 800.00
--------------------
Total Taxes 800.00
--------------------
Rent and Lease Exp. (Real Property and Personal Property) 1,603.89
--------------------
Interest Expense (Mortgage, Loan, etc.) 0.00
--------------------
Insurance 0.00
--------------------
Automobile Expense 0.00
--------------------
Utilities (Gas, Electricity, Water, Telephone, etc.) 0.00
--------------------
Depreciation and Amortization 0.00
--------------------
Repairs and Maintenance 0.00
--------------------
Advertising 0.00
--------------------
Supplies, Office Expenses, Photocopies, etc. 93.00
--------------------
Bad Debts 0.00
--------------------
Miscellaneous Operating Expenses (Printing/Filing 8K) 30.00
--------------------
Total Operating Expenses 2,526.89
--------------------
Net Gain/Loss from Business Operations (2,526.89)
------------------
B. Not Related to Business Operations:
Income:
Interest Income 3,330.00
--------------------
Other Non-Operating Revenues (Specify)
--------------------
Gross Proceeds on Sale of Assets
--------------------
Less: Original Cost of Assets plus Expenses of Sale
--------------------
Net Gain/Loss of Sale of Assets
--------------------
Total Non-Operating Income 3,330.00
------------------
Expenses Not Related to Business Operations:
Legal and Professional Fees (Lobel, Opera & Freidman) 20,349.76
--------------------
Other Non-Operating Expenses (Bleimeister/Allan) 1,188.25
--------------------
Total Non-Operating Expenses 21,438.01
------------------
NET INCOME / LOSS FOR PERIOD (20,634.90)
------------------
</TABLE>
- --------------------------------------------------------------------------------
Revised April 1989 OPERATING REPORT UST-4
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
DEBTOR IN POSSESSION OPERATING REPORT NO: ___2__ Page 2 of 3
- --------------------------------------------------------------------------------
2. Aging of Accounts Payable and Accounts Receivable (exclude pre-petition
accounts payable):
<TABLE>
<CAPTION>
--------------------------------- ------------------------------
Accounts Payable Accounts Receivable
--------------------------------- ------------------------------
<S> <C> <C> <C>
--------------------------------- ------------------------------
Current Under 30 Days
--------------------------------- ------------------------------
Overdue 31 - 60 Days 400.00
--------------------------------- ------------------------------
Overdue 61 - 90 Days 400.00
--------------------------------- ------------------------------
Overdue 91 - 120 Days 565.00 14,472.64
--------------------------------- ------------------------------
Overdue Over 121 Days 3,800.00
--------------------------------- ------------------------------
TOTAL 5,165.00 14,472.64
--------------------------------- ------------------------------
</TABLE>
3. State of Status of Payments to Secured Creditors and Lessors:
<TABLE>
<CAPTION>
------------------------------ ---------------------- ---------------- ----------------- --------------------------------
Frequency Post-Petition
of Payments Per Amount Next Payments Not Made*
Creditor/ Contract / Lease of Each Payment
Lessor (i.e., mo., qtr.) Payment Due Number Amount
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
<S> <C> <C> <C> <C> <C>
Village Plaza Associates mo 7,607 none 2 15,214
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
------------------------------ ---------------------- ---------------- ----------------- ----------------- --------------
</TABLE>
*Explanation for Non-Payment:
-----------------------------------------------
- --------------------------------------------------------------------------------
4. Tax Liability:
Gross Payroll Expense for Period: $ 0.00
-------------
Gross Sales for Period Subject to Sales Tax
$ 0.00
-------------
<TABLE>
---------------------- ----------------------- --------------------
Post-Petition
taxes Still
Date Paid Amount Paid* Owing
---------------------- ----------------------- --------------------
<S> <C> <C> <C>
Federal Payroll and Withholding Taxes 3/14/99 178.91 14.73
---------------------- ----------------------- --------------------
State Payroll and Withholding Taxes 3/2/99 314.16 3.20
---------------------- ----------------------- --------------------
State Sales and Use Taxes 2,034.37
---------------------- ----------------------- --------------------
Real Property Taxes
---------------------- ----------------------- --------------------
</TABLE>
* Attach photocopies of depository receipts from taxing authorities
or financial institutions to verify that such deposits or payments
have been made.
5. Insurance Coverage:
<TABLE>
<CAPTION>
------------------- ------------------ ------------------ ----------------
Carrier / Amount Policy Premium
Agent of Expiration Paid Through
Name Coverage Date Date
------------------- ------------------ ------------------ ----------------
<S> <C> <C> <C> <C>
Worker's Compensation
------------------- ------------------ ------------------ ----------------
Liability
------------------- ------------------ ------------------ ----------------
Fire and Extended Coverage
------------------- ------------------ ------------------ ----------------
Property
------------------- ------------------ ------------------ ----------------
Theft
------------------- ------------------ ------------------ ----------------
Life (Beneficiary: )
---------------------- ------------------- ------------------ ------------------ ----------------
Vehicle
------------------- ------------------ ------------------ ----------------
Other (Specify):
---------------------- ------------------- ------------------ ------------------ ----------------
Director and Officer Insurance Carolina Casualty 3,000,000 4/8/99 4/8/99
------------------------------------------ ------------------- ------------------ ------------------ ----------------
------------------------------------------ ------------------- ------------------ ------------------ ----------------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
DEBTOR IN POSSESSION OPERATING REPORT NO: _____ Page 3 of 3
- --------------------------------------------------------------------------------
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 pre-petition unsecured debt,
except as have been authorized by the Court:
/ / Yes Explain:
----------------------------------------------
/X/ No
7. Statement of Unpaid Professional Fees (Post-Petition Amounts ONLY)
<TABLE>
<CAPTION>
---------------------------------------- ------------------------------ --------------------------
State Type of Total Post-
Professional Petition Amount
Name of Professional (Attorney/Accountant/etc.) Unpaid
---------------------------------------- ------------------------------ --------------------------
<S> <C> <C>
Lobel, Opera & Friedman Attorney 112,352.15
---------------------------------------- ------------------------------ --------------------------
---------------------------------------- ------------------------------ --------------------------
---------------------------------------- ------------------------------ --------------------------
---------------------------------------- ------------------------------ --------------------------
---------------------------------------- ------------------------------ --------------------------
</TABLE>
8. Narrative Report of Significant Events and Events out of the Ordinary Course
of Business: (ATTACH SEPARATE SHEET IF NECESSARY)
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
-----------------------------------------------------------------------------
9. Quarterly Fees: (This Fee must be paid to the United States Trustee
every calendar quarter)
<TABLE>
<CAPTION>
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
Quarterly Total Quarterly
Period Disbursements Quarterly Date Amount Check Fee Still
Ending For Quarter Fee Paid Paid No. Owing
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
<S> <C> <C> <C> <C> <C> <C>
9/30/98 321,808 3,750.00 11/4/98 3,750.00 1144 0
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
12/31/98 417,763 3,750.00 1/22/99 3,750.00 1178 0
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
3/31/99 20,222 500.00 5/4/99 500.00 1201 0
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
----------------- ----------------- ---------------- ----------------- ----------------- ----------------- --------------
</TABLE>
I, (Name/Title: Kristy Allan, Chief Accounting Officer),
----------------------------------------
declare under penalty of perjury that the information contained in the above
Debtor in Possession Operating Report is true and complete to the best of my
knowledge.
Dated: May 6, 1999
--------------------------
------------------------------------------
Debtor in Possession or Trustee
