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Previous: DATARAM CORP, DEF 14A, 1998-08-03 |
Next: DILLARDS INC, 424B2, 1998-08-03 |
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Commission File No.: 0-9503
Current Report
July 29, 1998
(Date of Report - Date of Earliest Event Reported)
DIGITAL PRODUCTS CORPORATION
Florida 59-1141879
(State or other jurisdiction of (IRS Employer
Incorporation or organization) Identification No)
3001 SW 10th Street
Pompano Beach, Florida 33069
(Address of Principal Executive Offices)
(800) 670-7790
(Registrant's Telephone Number)
(Former Name, Former Address and Former Fiscal Year,
if changed since last report)
<PAGE>
ITEM 3. BANKRUPTCY OR RECEIVERSHIP
On April 3, 1997, the Company filed a voluntary petition under Chapter
11 of the U.S. Bankruptcy Act in the U.S. District Court for the Southern
District of Florida. Since that date, the Company has continued its day-to-
day business under the protection of the Bankruptcy Court as Debtor-In-
Possession. The following Monthly Financial Report for Business for the
month of June was filed with the Bankruptcy Court on July 30, 1998.
<PAGE>
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF FLORIDA
MIAMI DIVISION
IN RE: CASE NUMBER
97-21987BKC-RBR
JUDGE RAYMOND B. RAY
DEBTOR. CHAPTER 11
DEBTOR'S MONTHLY FINANCIAL REPORTS (BUSINESS)
FOR THE PERIOD
FROM 6/1/98 TO 6/30/98
Comes now the above-named debtor and files its Periodic Financial Reports in
accordance with the Guidelines established by the United States Trustee and
FRBP 2015.
Robert Furr
Attorney for Debtor
Debtor's Address Attorney's Address
And Phone Number: and Phone Number:
3001 SW 10th Street 1499 W Palmetto Road
Pompano Beach, FL 33069 Boca Raton, FL 33486
(800) 670-7790 (561) 395-0500
<PAGE>
Monthly Financial Report for Business
For the Period Beginning: 6/1/98 and Ending: 6/30/98
Name of Debtor: Digital Products Corporation Case No: 97-21987 BKC RBR
Date of Petition: 4/3/97
<TABLE>
<CAPTION>
Current Cumulative
Month Petition to Date
<S> <C> <C>
1. Cash at Beginning of Period $ 46,375.59 $ 60,846.09
2. Receipts:
A. Cash Sales - -
Less: Cash Refunds - -
Net Cash Sales - -
B. Collections on Post Petition A/R $ 258,482.30 3,108,986.20
C. Collections on Pre Petition A/R - 432,498.78
D. Other Receipts 500.00 321,676.29
3. TOTAL RECEIPTS 258,982.30 3,863,161.27
4. TOTAL CASH AVAILABLE FOR
OPERATIONS (Line 1 + Line 3) 305,357.89 3,924,007.36
5. DISBURSEMENTS
A. U.S. Trustee Quarterly Fees 3,750.00 15,000.00
B. Net Payroll 81,564.10 977,686.09
C. Payroll Taxes Paid 35,355.39 442,811.91
D. Sales and Use Taxes
E. Other Taxes 2,668.00 12,858.85
F. Rent 22,963.84 112,835.12
G. Other Leases 1,000.00 81,301.93
H. Telephone 10,810.56 313,722.73
I. Utilities - -
J. Travel & Entertainment 4,259.42 196,385.22
K. Vehicle Expenses - -
L. Office Supplies 577.77 36,152.57
M. Advertising 13,850.57
N. Insurance (Attachment 7) 15,125.20 147,581.83
O. Purchases of Fixed Assets 3,383.55 73,965.09
P. Purchases of Inventory 4,760.00 405,562.85
Q. Manufacturing supplies 19,623.47 19,623.47
R. Repairs and Maintenance - 1,559.21
S. Payments to Secured Creditors 86,500.00
T. Other Operating Expenses 52,093.24 939,186.57
(Attach List)
6. TOTAL CASH DISBURSEMENTS 257,934.54 3,876,584.01
7. ENDING CASH BALANCE
(LINE 4 - LINE 6) $ 47,423.35 $ 47,423.35
</TABLE>
I declare under penalty of perjury that this statement and the accompanying
documents and reports are true and correct to the best of my knowledge and
belief.
This 29th day of July, 1998.
<PAGE>
Monthly Financial Report for Business
For the Period Beginning: 6/1/98 and Ending: 6/30/98
Name of Debtor: Digital Products Corporation Case No: 97-21987 BKC RBR
Date of Petition: 4/3/97
<TABLE>
<CAPTION>
Current Cumulative
Month Petition to Date
<S> <C> <C>
OTHER RECEIPTS
IL Unemployment Refund - 701.08
Employees Shipping - 22.25
AT&T Refund - 172.98
Various Misc Income - 1,197.38
Genesee County Payment in Error - 1,622.00
COD Supplies/Other - 2,357.37
EMS Cash Advance - 24,900.00
APT Refund deposit - 10,000.00
Various Tax refunds - 257.51
State of Utah Receipt in error - 4,750.20
Void Checks - 245.52
NASDAQ Refund - 4,000.00
Judy Sundberg Advance - 8,850.00
Synergy Media Draw on Trust Funds - 20,000.00
IMS, Inc. Reimburse Expenses - 30,000.00
Void checks 245.52
IMS, Inc. Advance 179,100.00
DPAC Advance 33,000.00
T. Snelling Advance 500.00 500.00
$ 500.00 $ 321,921.81
</TABLE>
<PAGE>
Monthly Financial Report for Business
For the Period Beginning: 6/1/98 and Ending: 6/30/98
Name of Debtor: Digital Products Corporation Case No: 97-21987 BKC RBR
Date of Petition: 4/3/97
<TABLE>
<CAPTION>
Current Cumulative
Month Petition to Date
<S> <C> <C>
OTHER OPERATING EXPENSES
Tax Acct Bank Charge Service Charges 67.48 406.97
Barnett Bank Bank Charge Wire Transfer Fees 141.00 378.00
Operating Acct Bank Charge Service Charges 335.45 1,359.49
Payroll Acct Bank Charges Service Charges 69.55 464.98
Kinko's Copies for Tracking - 654.67
Postage Next Day Mailing - 56.75
Subcontractors Installers - 29,933.63
Corporate License Fees - 330.00
Computer Programmer - 43,475.48
Subcontractors Labor 7,810.87 263,199.05
Freight 14,114.22 111,824.18
Transfer Agent/Other - 38,875.25
Patent Renewals - 13,289.00
Refund (ck Rec in Error) - 6,362.20
Advance Payment Repayment - 24,900.00
Various Medical Claims - 2,451.88
Subcontractors Computer Supplies - 498.18
S. Kapila Interim CFO - 10,469.05
L. Martin Commission - 1,000.00
T. Snellings Consult/Comm - 24,708.30
Various Network Support - 10,534.33
Various Move Expense - 7,006.60
SGSG Advance - 18,786.09
Competatech/Others Training 3,056.91
Employees Mileage - 168.44
Employees 125s Reimbursement - 2,588.00
Corporate Systems CCSN Deposit - 61,612.96
Mike Luther Expense Reimb/Adv 10,000.00 43,556.61
Peggy Conway Expense Advance - 2,000.00
USCF Fees - 500.00
Various Deposits - 40,500.00
EMS Commission - 2,843.25
Bank of Kaukauna Utah lease - 15,044.63
Transfer to IMS Expense Reimburse - 25,000.00
American Stock Transfer Legal - 1,600.00
Holland & Knight Legal - 285.00
Judy Sundberg Advance 10,850.00
Deltec Repairs 1,663.40
Electronic Filings SEC Filing 531.00
America Online Internet 26.95 80.85
Constant Services Repairs 116.50
Argentina Consultants Consulting 13,600.00
Equipment Rentals Rentals 2,191.04
</TABLE>
<PAGE>
Monthly Financial Report for Business
For the Period Beginning: 6/1/98 and Ending: 6/30/98
Name of Debtor: Digital Products Corporation Case No: 97-21987 BKC RBR
Date of Petition: 4/3/97
<TABLE>
<CAPTION>
Current Cumulative
Month Petition to Date
<S> <C> <C>
OTHER OPERATING EXPENSES
T. Snelling Advance Repay 2,253.48
DPAC Advance Repay 33,000.00
Disclosure Mailings Mailings 19,527.72 55,974.72
Thomas Deer Petty Cash 500.00
Chuck Nora Expense Advance 1,000.00
Victor Flores Expense Advance 1,000.00
Ken Virgillito Expense Advance 1,005.00
Total $ 52,093.24 $ 939,186.57
</TABLE>
ATTACHMENT 1
Monthly Accounts Receivable Aging & Reconciliation
Name of Debtor: Digital Products Corporation Case No: 97-21987 BKC RBR
For the Period Beginning: 6/1/98 and Ending: 6/30/98
ACCOUNTS RECEIVABLE AT PETITION DATE: $534,314.00
ACCOUNTS RECEIVABLE RECONCILIATION (Includes all accounts receivable, pre-
petition and post-petition, including charge card sales, which have not
been received):
Beginning of Month Balance $ 561,725.96
Plus: Current Month New Billings 266,084.49
Less: Collections during the Month 258,482.30
End of Month Balance $ 569,328.15
Aging: (Show the total amount for each age group of accounts
Incurred since filing the petition)
0-30 days 31-60 days 61-90 days Over 90 Total
Days
$219,611.78 67,153.48 60,978.44 191,676.65 $539,420.35
<PAGE>
ATTACHMENT 2
MONTHLY ACCOUNTS PAYABLE AND SECURED PAYMENTS REPORT
Name of Debtor: Digital Products Corporation Case # 97-21987 BKC-RBR
Reporting Period Beginning 6/1/98 and Ending 6/30/98
In the space below list all invoices or bills incurred and not paid since the
filing of the petition. Do not include amounts owed prior to the filing of
the petition.
<TABLE>
<CAPTION>
Date Days
Incurred Outstanding Vendor Description Amount
<S> <C> <C> <C> <C>
24-Apr-97 Millward & Co. Audit 150.00 dispute
1-Feb-98 150 Access 2000 Computer System 5,358.00
1-Feb-98 150 Doug Hogmire Computer 1,383.55
2-Feb-98 117 AT&T Phones 3,053.88
22-Apr-98 69 St. of Hawaii Taxes 286.16
22-Apr-98 69 St. of Hawaii Taxes 336.32
30-Apr-98 61 Acme Typewriter Office Sup. 79.04
30-Apr-98 61 Royal Mercantile Trust 2,583.56 dispute
22-Apr-98 39 Modern Time Systems Repair 93.17
03-Apr-98 88 Cort Furniture Rent 134.96
01-May-98 60 Telnet Data Supplies 1,800.00
23-Apr-98 37 O'Donnell Ficenec Tax Prep. 8,500.00
20-Apr-98 71 DAS Consulting Repair 530.00
17-Apr-98 74 Comguard Repair 11,625.00
14-Apr-98 77 Monroe County Probation Equip 2,560.00
01-May-98 61 Telnet Data Group Supplies 1,800.00
30-Apr-98 61 Reliable Office Supplies Supplies 153.04
16-May-98 45 Telogy Supplies 131.44
30-Apr-98 61 Peggy Conway Employee Expenses 633.33
11-Mar-98 111 Cort Furniture Rent 10.00
04-Apr-98 87 Cort Furniture Rent 10.00
06-May-98 55 Cort Furniture Rent 10.00
06-May-98 55 Cort Furniture Rent 10.00
20-May-98 41 Key Leasing Rent 500.00
29-May-98 32 XiNETix Rent 4,088.50
02-May-98 58 Cort Furniture Rent 134.96
04-May-98 57 FP&L Rent 59.91
12-Jan-98 169 IKON Supplies 345.62
01-May-98 61 AT&T Telephone Conf Telephone 519.12
30-Apr-98 62 Nextel Telephone 92.88
20-May-98 71 Network Solutions Misc 100.00
01-May-98 61 TCG Telephone 4,722.48
23-May-98 68 LCI Int'l Telephone 20.59
23-Jan-98 158 David Bower Contract Labor 200.00
02-May-98 60 Steve Makk Contract Labor 7,060.00
04-May-98 58 Sandra Umana Contract Labor 40.00
08-May-98 54 Am. Design Contract Labor 540.00
14-May-98 46 Liberty Court Contract Labor 268.88
15-May-98 46 Am. Design Contract Labor 486.00
17-May-98 44 Comguard Contract Labor 1,625.00
</TABLE>
<PAGE>
ATTACHMENT 2
MONTHLY ACCOUNTS PAYABLE AND SECURED PAYMENTS REPORT
Name of Debtor: Digital Products Corporation Case # 97-21987 BKC-RBR
<TABLE>
<CAPTION>
Date Days
Incurred Outstanding Vendor Description Amount
<S> <C> <C> <C> <C>
18-May-98 43 Steve Makk Contract Labor 3,407.50
22-May-98 39 Am. Design Contract Labor 486.00
28-May-98 33 DAS Consulting Contract Labor 265.00
20-Feb-98 99 Dean Witter Professional Fees 67.45
01-Apr-98 91 Am. Stock Transfer Professional Fees 1,600.00
01-May-98 61 Am. Stock Transfer Professional Fees 1,600.00
15-May-98 46 Statewide Invest. Professional Fees 12.00
18-May-98 43 Holland & Knight Professional Fees 4,625.00
18-May-98 43 Frogs Professional Fees 223.65
21-May-98 40 Electronic Filings Professional Fees 171.00
11-May-98 50 Holland & Knight Professional Fees 2,905.00
09-May-98 52 CSC Professional Fees 172.50
01-June-98 29 Am Stock Transfer Professional Fees 1,600.00
01-June-98 29 EMS Contract Labor 771.75
01-June-98 29 LCI Telephone 5,000.00
01-June-98 29 Triple S Transport Freight 76.00
02-June-98 28 Office Depot Office Supplies 395.38
03-June-98 27 LCI Telephone 36,747.66
06-June-98 24 Carl Margolis Contract Labor 562.50
08-June-98 22 R Soft, Inc. Supplies 2,588.93
10-June-98 20 Foam Factory Supplies 1,509.00
11-June-98 19 EFD 58.26
11-June-98 19 Eugene Kennedy Professional Fees 3,940.00
14-June-98 16 Liberty Court Travel 268.88
16-June-98 14 Telogy 131.44
19-June-98 11 Key Leasing Rent 1,500.00
19-June-98 11 Re-entry Services Contract Labor 1,264.50
20-June-98 10 Steve Makk & Assoc Contract Labor 8,851.20
23-June-98 7 LCI Telephone 832.88
25-June-98 5 Smith Barney 108.77
29-June-98 1 Federal Express Freight 279.89
29-June-98 1 Smith Barney 74.48
30-June-98 Deltec Supplies 1,150.00
30-June-98 Holland Knight Professional Fees 861.00
30-June-98 Albani Laporte Contract Wages 256.52
$ 146,457.53
</TABLE>
ACCOUNTS PAYABLE RECONCILIATION (Post Petition Only):
Opening Balance (total from prior report) $ 144,129.37
Plus: New Indebtedness Incurred This Month 69,045.45
Less: Amount Paid on Prior Accounts Payable 66,717.29
End of Month Balance 146,457.53
<PAGE>
ATTACHMENT 3
Name of Debtor: Digital Products Corporation Case # 97-21987 BKC-RBR
Report Period Beginning 6/1/98 and Ending 6/30/98
INVENTORY REPORT
INVENTORY BALANCE AT PETITION DATE: $148,780.63
INVENTORY RECONCILIATION:
Inventory Balance at Beginning of Month $ 149,052.13
Inventory Purchased during Month 4,760.00
Inventory Used or Sold 4,760.00
Inventory on Hand at End of Month $ 149,052.13
METHOD OF COSTING INVENTORY: Inventory is stated at lower of cost or
market using first-in, first-out method in determining cost, and replacement
cost or net realizable value in determining market.
FIXED ASSETS FAIR MARKET VALUE AT PETITION DATE: $ 716,000
(Includes Property, Plant and Equipment)
BRIEF DESCRIPTION (First Report Only):
FIXED ASSETS RECONCILIATION:
Fixed Assets Book Value at Beginning of Month $ 384,106.00
Less: Depreciation Expense 34,963.00
Plus: New Purchases 3,383.50
Less: Disposed Under Lease Rejection
Ending Monthly Balance $ 352,526.50
BRIEF DESCRIPTION OF FIXED ASSETS PURCHASED OR DISPOSED OF DURING THE
REPORTING PERIOD:
<PAGE>
ATTACHMENT 4
MONTHLY BANK RECONCILIATIONS
DEBTOR: Digital Products Corporation Case # 97 21987 BKC-RBR
Report Period Beginning: 6/1/98 Ending: 6/30/98
BANK: Comerica Bank & Trust BRANCH: Boca Raton
ACCT NAME: Digital Products Corporation
ACCT NUMBER: 1811006533
PURPOSE OF ACCOUNT: Operating Account
Beginning Balance $ 43,276.64
Total of Deposits Made 258,982.30
Total Amount of Checks/Wires 149,532.69
Service Charges 476.45
Transfers to Other Accounts 107,628.21
Closing Balance $ 44,621.59
Number of First Check Written This Period 2139
Number of Last Check Written This Period 2204
Total Number of Checks Written This Period 59
Total Number of Wire Transfers 9
Voided Checks This Period 2
Total 70
BANK: Comerica Bank & Trust BRANCH: Boca Raton
ACCT NAME: Digital Products Corporation
ACCT NUMBER: 1811006541
PURPOSE OF ACCOUNT: Payroll Account
Beginning Balance $ 2,021.11
Total of Deposits Made
Transfers in 81,160.18
Total Amount of Checks Written 81,211.28
Service Charges Payroll Depot 352.82
Service Charges 69.55
Transfers to Other Accounts
Closing Balance $ 1,547.64
Number of First Check Written This Period 914
Number of Last Check Written This Period 974
Total Number of Checks Written This Period 60
Plus Manual Checks 2
Total 62
Plus Direct Deposits 75 Items
Total 137 Items
<PAGE>
ATTACHMENT 4
MONTHLY BANK RECONCILIATION
DEBTOR: Digital Products Corporation Case # 97 21987 BKC-RBR
Report Period Beginning: 6/1/98 Ending: 6/30/98
BANK: Comerica Bank & Trust BRANCH: Boca Raton
ACCT NAME: Digital Products Corporation
ACCT NUMBER: 1811006558
PURPOSE OF ACCOUNT: Tax Account
Beginning Balance $ 1,077.84
Total of Deposits Made 26,468.03 Transfers in
Total Amount of Checks Written 26,224.27 Transfers out
Service Charges 67.48
Transfers to Other Accounts
Closing Balance $ 1,254.12
<PAGE>
ATTACHMENT 5
CHECK REGISTER
DEBTOR: Digital Products Corporation Case # 97-21987 BKC-RBR
Report Period Beginning: 6/1/98 And Ending: 6/30/98
NAME OF BANK: Comerica Bank & Trust
ACCOUNT NAME: Digital Products Corporation
ACCOUNT #: 1811006533
PURPOSE OF ACCOUNT: Operating Account
<TABLE>
<CAPTION>
Date Check # Payee Purpose Amount
<S> <C> <C> <C> <C>
6/2/98 2146 Office Max Supplies 116.03
6/3/98 2147 US Postmaster Postage 96.00
6/3/98 2148 Industrial Assembly Supplies 4,760.00
6/4/98 2149 Mike Luther Travel Advance 10,000.00
6/5/98 2139 KBS Rent 1,000.00
6/5/98 Wire KBS Rent 5,600.00
6/5/98 2150 Craig Thompson Wages 145.45
6/9/98 Wire Renatta Batteries Supplies 6,020.80
6/10/98 2151 Board of Equalization - CA Sales Tax 553.00
6/11/98 2152 ADP/ICS Bankruptcy Mailing 19,527.72
6/11/98 2153 Richard Angulo Telephone 1,717.77
6/12/98 2154 US West Telephone 443.33
6/12/98 2155 Frank Garner Contract Labor 435.00
6/12/98 2156 American Design Contract Labor 2,806.64
6/12/98 2157 Peggy Conway Telephone 633.33
6/12/98 2158 Void
6/17/98 Wire Seitlan Insurance Insurance 4,750.00
6/17/98 Wire XiNetix Rent 4,000.00
6/18/98 2159 Midwest Employee Insurance - medical
Benefits Admin and dental 4,152.68
6/18/98 2160 Industrial Assembly Inventory - straps 4,760.00
6/18/98 2161 Stock Electronics Supplies 3,971.92
6/18/98 2162 Dadan Packaging Co. Supplies 2,116.00
6/18/98 2163 Reliance Standard Life Insurance - disability 40.13
6/18/98 2164 AFCO Insurance 1,332.39
6/18/98 2165 UPS Freight 4,107.96
6/18/98 2166 FedEx Freight 1,366.70
6/18/98 2167 Ken Virgillito Travel Advance 321.00
6/18/98 2168 Don Rokusek Printing 169.08
6/18/98 2169 Jeffrey Serbin Supplies 248.31
6/18/98 2170 Worldtech Computers Office Supplies 242.24
6/18/98 2171 Pagenet Telephone 292.05
6/18/98 2172 TCG Telephone 4,740.00
6/18/98 2173 Gevalia Raffe Office Supplies 31.85
6/18/98 2174 Liberty Court Travel Travel 341.00
6/19/98 2175 Key Leasing Auto 1,000.00
6/19/98 2176 EMS Contract Labor 3,715.50
6/19/98 2177 Access 2000 Computer 2,000.00
6/19/98 2178 Chuck Nora Expense Reimburse 1,433.66
6/22/98 2179 Memcon Rent 1,000.00
6/22/98 Wire Seitlan Insurance 4,850.00
6/22/98 2180 Account Resources Contract Labor 853.73
</TABLE>
<PAGE>
ATTACHMENT 5
CHECK REGISTER
DEBTOR: Digital Products Corporation Case # 97-21987 BKC-RBR
Report Period Beginning: 6/1/98 And Ending: 6/30/98
NAME OF BANK: Comerica Bank & Trust
ACCOUNT NAME: Digital Products Corporation
ACCOUNT #: 1811006533
PURPOSE OF ACCOUNT: Operating Account
<TABLE>
<CAPTION>
Date Check # Payee Purpose Amount
<S> <C> <C> <C> <C>
6/22/98 2181 Jeff Serbin Supplies 247.67
6/22/98 2182 Trammell Crowell Rent 1,169.00
6/22/98 2183 Doug Hogmire Computer 1,383.55
6/22/98 2184 Judy Sundberg Expense Reimburse 445.13
6/22/98 2185 Penny Woods Travel 31.69
6/22/98 2186 XiNetix Rent 4,000.00
6/23/98 2187 Liberty Court Travel 476.44
6/23/98 2188 Richard Angulo Travel 50.00
6/23/98 2189 Peggy Conway Expense Reimburse 317.34
6/23/98 Wire Albani Laporte Wages 743.55
6/23/98 2191 Liberty Court Travel 1,198.50
6/23/98 2192 St of Hawaii Taxes 2,115.00
6/23/98 2193 Void
6/23/98 2194 TCG Telephone 2,268.44
6/23/98 2195 Stock Electronics Supplies 914.00
6/23/98 2196 Pagenet Telephone 528.34
6/24/98 2197 US Trustee Bankruptcy 3,750.00
6/24/98 Wire Fm Hall Springfld Payroll Taxes 9,062.46
6/24/98 2198 US Postmaster Postage 10.75
6/24/98 Wire KBS Rent 1,000.00
06/24/98 AW American Online Internet 26.95
6/25/98 2199 Federal Express Freight 992.08
6/25/98 2200 St. of Florida Penalty 5.00
6/25/98 2201 UPS Freight 6,553.98
6/25/98 2202 Self-Storage Rent 2,765.84
6/25/98 2203 Deltec Supplies 1,128.30
6/25/98 Wire KBS Rent 2,400.00
6/29/98 2204 LEP Profit Freight 1,082.75
Total 149,532.69
</TABLE>
<PAGE>
ATTACHMENT 5
CHECK REGISTER
DEBTOR: Digital Product Corporation Case #: 97-21987 BKC-RBR
Report Period Beginning: 6/1/98 and Ending: 6/30/98
NAME OF BANK: Comerica Bank & Trust
ACCOUNT NAME: Digital Products
ACCOUNT #: 1811005541
PURPOSE OF ACCOUNT: Payroll Account
<TABLE>
<CAPTION>
Date Check # Payee Purpose Amount
<S> <C> <C> <C> <C>
6/5/98 914-929+17 direct dep Employees Payroll $ 20,435.06
6/12/98 930-946+18 direct dep Employees Payroll 20,165.53
6/19/98 947-960+20 direct dep Employees Payroll 19,943.33
6/26/98 961-974+20 direct dep Employees Payroll 20,667.36
Sub Total Payroll 81,211.28
Payroll Depot Serv. Chg. 352.82
Grand Total $ 81,564.10
</TABLE>
<PAGE>
ATTACHMENT 5
CHECK REGISTER
DEBTOR: Digital Products Corporation Case # 97-21987 BKC - RBR
Report Period Beginning: 6/1/98 and Ending: 6/30/98
NAME OF BANK: Comerica Bank & Trust
ACCOUNT NAME: Digital Products Corporation
ACCOUNT #: 1811006558
PURPOSE OF ACCOUNT: Tax Account
<TABLE>
<CAPTION>
Date Check # Payee Purpose Amount
<S> <C> <C> <C> <C>
6/1/98 transfer Payroll Depot payroll taxes $ 9,047.46
6/12/98 transfer Payroll Depot payroll taxes 9,062.46
6/19/98 transfer Payroll Depot payroll taxes 8,648.56
6/26/98 transfer Payroll Depot payroll taxes 8,596.91
$ 35,355.39
</TABLE>
<PAGE>
ATTACHMENT 6a
Monthly Tax Report
DEBTOR: Digital Products Corporation Case #97-21987 BKC - RBR
Reporting Period Beginning: 6/1/98 and Ending: 6/30/98
TAXES PAID and ACCRUED DURING MONTH
<TABLE>
<CAPTION>
Date Bank Description Amount
<S> <C> <C> <C>
6/5/98 Comerica Bank FED WH $ 4,448.49
FICA 3,011.47
MEDICARE 789.72
FUTA 28.82
IN WH 62.77
MN WH 21.58
NE WH 266.98
MD WH 112.93
MI WH 30.80
IN SUTA 12.92
FL SUTA 188.28
NE SUTA 4.04
$ 8,978.80
6/12/98 Comerica Bank FED WH $4,655.15
FICA 2,973.46
MEDICARE 780.03
FUTA 25.87
IN WH 62.77
MD WH 112.93
MI WH 30.80
MN WH 21.58
NE WH 271.96
FL SUTA 160.62
MD SUTA 9.06
IN SUTA 12.92
$ 9,062.46
</TABLE>
<PAGE>
ATTACHMENT 6a
Monthly Tax Report
DEBTOR: Digital Products Corporation Case #97-21987 BKC - RBR
Reporting Period Beginning: 6/1/98 and Ending: 6/30/98
TAXES PAID and ACCRUED DURING MONTH
<TABLE>
<CAPTION>
Date Bank Description Amount
<S> <C> <C> <C>
6/19/98 Comerica Bank FED WH $ 4,147.60
FICA 3,051.02
MEDICARE 767.09
FUTA 22.57
IN WH 62.77
MD WH 112.93
MI WH 30.80
MN WH 21.58
NE WH 271.72
FL SUTA 138.74
NE SUTA 8.82
IN SUTA 12.92
$ 8,648.56
6/26/98 Comerica Bank FED WH $ 4,389.95
FICA 2,810.03
MEDICARE 791.87
FUTA 21.58
IN WH 62.77
MD WH 42.66
MI WH 30.80
MN WH 21.58
NE WH 272.08
FL SUTA 131.48
MD SUTA 9.19
IN SUTA 12.92
$ 8,596.91
</TABLE>
<PAGE>
ATTACHMENT 6b
DEBTOR: Digital Products Corporation Case #97-21987 BKC - RBR
Report Period Beginning: 6/1/98 and Ending: 6/30/98
TAXES OWED AND DUE
Report all unpaid post-petition taxes including Federal & State withholding,
FICA, state sales tax, property tax, unemployment taxes and State WC. Date
last tax returns filed 1/31/98. Period: 4th Quarter returns
<TABLE>
<CAPTION>
Name of Taxing Date Payment Description Amount
Authority Due
<S> <C> <C> <C>
FUTA 07/31/98 Fed unemployment tax 806.13
FL SUTA 07/31/98 FL unemployment 2,432.25
IN SUTA 07/31/98 IN unemployment 219.64
MD SUTA 07/31/98 MD unemployment 429.59
MI SUTA 07/31/98 MI unemployment 383.30
MN SUTA 07/31/98 MN unemployment 162.79
NE SUTA 07/31/98 NE unemployment 140.86
WA SUTA 07/31/98 WA unemployment 64.62
FED WH 07/15/98 FED WH 4,389.95
FICA 07/15/98 FICA 2,810.03
MEDICARE 07/15/98 MEDICARE 791.87
IN WH 07/15/98 IN WH 62.77
MD WH 07/15/98 MD WH 42.66
MI WH 07/15/98 MI WH 30.80
MN WH 07/15/98 MN WH 21.58
NE WH 07/15/98 NE WH 272.08
</TABLE>
<PAGE>
ATTACHMENT 7
SUMMARY OF PERSONNEL & INSURANCE COVERAGES
Name of Debtor: Digital Products Corporation Case #97-21987 BKC - RBR
Report Period Beginning: 6/1/98 and Ending 6/30/98
Report all compensation received during the month. Do not include
reimbursement for expenses incurred for which you have receipts.
<TABLE>
<CAPTION>
Name of Officer: Title Amount Paid Travel Adv.
<S> <C> <C> <C>
Richard Angulo Pres/COO $ 12,356.77 $ -
Michael Luther CEO/Chairman 9,230.80 -
</TABLE>
PERSONNEL REPORT
Full Time Part Time
Number of employees at beginning of period 28 1
Number hired during the period -
Number converted to full time - -
Number terminated during the period - -
Number of employees on payroll at the end of period 28 1
CONFIRMATION OF INSURANCE
List all policies of insurance in effect, including but not limited to
workers' compensation, liability, fire, theft, comprehensive, vehicle,
health & life.
<TABLE>
<CAPTION>
Carrier Agent & Phone # Policy # Coverage Expiration Date
Type Date Premium Due
<S> <C> <C> <C> <C> <C>
Zenith Alexander & Alex 12924 WC 4/1/99 4/1/99
305-279-7870
Zenith Dade Underwriters 40076 WC 3/1/99 3/1/99
954-462-1304
Reliance Stand. Mahoney & Asso. LTD097814 LTD 7/1/98 6/15/98
Life Insurance 954-763-7971
Gotham Ins. Seitlin Ins. MM014842LP296 Comp. Gen'l 6/1/98 paid
305-591-0090 Liability
Nat'l Union Fire Seitlin Ins. BE9327676 Umbrella 6/1/98 paid
Ins. Co. of Pitt. 305-591-0090 Liability
Pacific Ins. Co. Seitlin Ins. ZG0008872 Property 5/1/99 paid
305-591-0090
Fidelity & Dep. Seitlin Ins. CCP0033867 Crime 5/1/99 paid
305-591-0090
Mutual of Midwest Emp. Ben. 266 MBPT Health & Dental 10/1/98 paid
Omaha
</TABLE>
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