EXHIBIT 99.1
The Grand Union Company Case No. 00-39613 (NW)
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Debtor
<TABLE>
<CAPTION>
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REVENUES Period 7 12 days ended
October 14, 2000
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<S> <C> <C>
Gross Revenues 145,544 62,376
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Less: Returns and Allowances - -
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Net Revenue 145,544 62,376
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COST OF GOODS SOLD
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Beginning Inventory 118,671 116,875
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Add: Purchases 85,008 36,432
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Add: Cost of Labor
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Add: Other Costs (attach schedule) 1,999 857
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Less: Ending Inventory 115,530 115,530
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Cost of Goods Sold 107,849 46,221
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Gross Profit 37,695 16,155
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OPERATING EXPENSES
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Advertising 1,561 669
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Auto and Truck Expense - -
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Bad Debts - -
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Contributions - -
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Employee Benefits Programs 2,770 1,187
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Insider Compensation - -
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Insurance 1,646 706
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Management Fees/Bonuses 102 44
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Office Expense - -
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Pension & Profit-Sharing Plans 197 85
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Repairs and Maintenance 1,937 830
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Rent and Lease Expense 3,839 1,645
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Salaries/Commissions/Fees 17,700 7,586
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Supplies 1,043 447
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Taxes-Payroll 1,447 620
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Taxes-Real Estate 879 377
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Taxes-Other - -
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Travel and Entertainment - -
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Utilities 3,962 1,698
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Other (attach schedule) 4,294 1,840
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Total Operating Expenses Before Depreciation 41,376 17,733
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Depreciation/Depletion/Amortization 142,819 1,327
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Net Profit (Loss) Before Other Income & Expenses (146,500) (2,905)
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OTHER INCOME AND EXPENSES
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Other Income (attach schedule) - -
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Interest Expense 4,107 1,760
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Other Expense (attach schedule) 2,701 1,157
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Net Profit (Loss) Before Reorganization Items (154,970) (5,823)
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REORGANIZATION ITEMS
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Professional Fees - -
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U.S. Trustee Quarterly Fees - -
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Interest Earned on Accumulated Cash from Chapter 11 (see continuation sheet) - -
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Gain (Loss) from Sale of Equipment - -
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Other Reorganization Expenses (attach schedule) 1,662 713
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Total Reorganization Expenses - -
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Income Taxes - -
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Net Profit (Loss) (136,961) (6,535)
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</TABLE>
* "Insider" is defined in 11 U.S.C. Section 101(31)
5
<PAGE>
The Grand Union Company Case No. 00-39613 (NW)
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Debtor
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OTHER OPERATING EXPENSES Period 7 12 days ended
October 14, 2000
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CHARGE CARD EXPENSE 551 236
OTHER OPERATING EXPENSES - -
LIGHT REPAIRS & LAMP REPLACE 107 46
STORE DISBURSEMENTS 86 37
PENALTIES & FINES 15 6
BAD CHECKS 139 60
PREMISE SECURITY 105 45
LAUNDRY 52 22
CASH (OVER) SHORT 51 22
REFRIGERATION & WATER DAMAGE - -
EQUIPMENT RENTAL 28 12
CASUALTY LOSS 124 53
SIGNS - -
EXTERMINATING 9 4
SHOPPING CARTS 7 3
MISCELLANEOUS INCOME (253) (108)
BANK SERVICE CHG/ARMORED CAR 261 112
CUSTOMER SERVICE CHARGES (7) (3)
OTHER 149 64
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TOTAL OTHER OPERATING EXPENSE 872 374
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CAPITAL PROJECT EXPENSE 0 0
CORPORATE ADMIN EXPENSE 2,673 1,145
GRAND PROPERTIES 149 64
GRAND VIDEO - -
CORPORATE COMMISSARY - -
PRE-OPEN EXPENSE - -
CLOSED STORE EXPENSE 49 21
TECHNOLOGY INITIATIVES - -
MANAGEMENT FEE - -
SUNDRY - -
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TOTAL OTHER OPERATING EXPENSES 4,294 1,840
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6
<PAGE>
The Grand Union Company Case No. 00-39613 (NW)
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Debtor
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OTHER COSTS OF GOODS SOLD Period 7 12 days ended
October 14, 2000
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TRUCKING 556 238
WAREHOUSING 2,564 1,099
S & G SERVICES 279 120
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TOTAL DISTRIBUTION 3,400 1,457
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ADVERTISING & PROMO ALLOWANCE (3,965) (1,699)
SPECIALTY FOODS (63) (27)
CASH DISCOUNTS (119) (51)
STOCK GAIN OR (LOSS) - GROCERY 620 266
- LIQUOR - -
- GEN MDSE 466 200
- PHARMACY (42) (18)
- SHRINK PROJ 24 10
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TOTAL STOCK GAIN OR (LOSS) 1,068 458
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SPECIAL PROMOTIONS 2,056 881
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TRADING-MERCHANDISE (336) (144)
-MEAT (429) (184)
-PRODUCE (233) (100)
-SERVICE (18) (8)
LABEL EXP/ALLOW - -
VENDOR COUPONS (59) (25)
STATISTICAL GROSS ADJUSTMENT 44 19
WHSE INV GAIN(LOSS)-GROCERY 50 21
PHARMACY THIRD PARTY REC ADJ 21 9
FREQUENT SHOPPER EXPENSE 283 121
CLIPLESS COUPON EXPENSE 127 54
ADVERTISING PROGRAMS - -
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OTHER ADJ. TO GROSS MARGIN (552) (236)
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LIFO PROVISION 175 75
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TOTAL OTHER COSTS OF GOODS SOLD 1,999 857
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7
<PAGE>
The Grand Union Company Case No. 00-39613 (NW)
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Debtor
Reporting Period: 16 days ended October 2, 2000
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BALANCE SHEET
The Balance Sheet is to be completed on an accrual basis only. Pre-petition
liabilities must be classified separately from postpetition obligations.
<TABLE>
<CAPTION>
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ASSETS BOOK VALUE AT END OF CURRENT BOOK VALUE ON
REPORTING MONTH PETITION DATE
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<S> <C> <C>
CURRENT ASSETS
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Unrestricted Cash and Equivalents
24,673 31,222
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Restricted Cash and Cash Equivalents (see continuation sheet)
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Accounts Receivable (Net)
24,955 29,140
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Notes Receivable
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Inventories
115,530 116,876
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Prepaid Expenses
21,209 5,810
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Professional Retainers
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Other Current Assets (attach schedule)
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TOTAL CURRENT ASSETS $ 186,367 $ 183,048
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PROPERTY AND EQUIPMENT
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Real Property and Improvements
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Machinery and Equipment
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Furniture, Fixtures and Office Equipment
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Leasehold Improvements
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Vehicles
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Less Accumulated Depreciation
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TOTAL PROPERTY & EQUIPMENT $ 332,278 $ 345,187
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OTHER ASSETS
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Loans to Insiders*
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Other Assets (attach schedule)
56,054 60,215
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TOTAL OTHER ASSETS $ 56,054 $ 60,215
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TOTAL ASSETS $ 574,699 $ 588,450
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LIABILITIES AND OWNER EQUITY BOOK VALUE AT END OF CURRENT BOOK VALUE ON
REPORTING MONTH PETITION DATE
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LIABILITIES NOT SUBJECT TO COMPROMISE (Post-Petition)
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Accounts Payable
(85,265) (162,593)
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Taxes Payable (refer to FORM MOR-4)
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Wages Payable
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Notes Payable
(1,000) (263,060)
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Rent / Leases - Building/Equipment
(149,718) (160,737)
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Secured Debt / Adequate Protection Payments
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Professional Fees
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Amounts Due to Insiders*
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Other Postpetition Liabilities (attach schedule)
(136,982) (210,800)
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TOTAL POSTPETITION LIABILITIES $ (372,965) $ (797,190)
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LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)
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Secured Debt (263,060)
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Priority Debt
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Unsecured Debt (171,958)
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TOTAL PRE-PETITION LIABILITIES $ (435,018) $ -
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TOTAL LIABILITIES $ (807,983) $ (797,190)
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OWNER EQUITY
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Capital Stock
(300) (300)
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Additional Paid in Capital
(384,800) (384,800)
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Partners' Capital Account
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Owner's Equity Account
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Retained Earnings - Pre-Petition
593,840 593,840
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8
<PAGE>
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Retained Earnings - Post-Petition 24,544
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Adjustments to Owner Equity (attach schedule)
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Postpetition Contributions (Distributions) (Draws) (attach schedule)
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NET OWNER EQUITY $ 233,284 $ 208,740
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TOTAL LIABILITIES AND OWNERS' EQUITY $ (574,699) $ (588,450)
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FORM MOR-3
* "Insider is defined in 11 U.S.C. Section 101(31). (9/99)
</TABLE>
9
<PAGE>
The Grand Union Company Case No. 00-39613 (NW)
----------------------- -------------
Debtor
Reporting Period: 16 days ended October 2, 2000
-----------------------------
BALANCE SHEET
<TABLE>
<CAPTION>
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ASSETS BOOK VALUE AT END OF CURRENT BOOK VALUE ON PETITION DATE
REPORTING MONTH
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<S> <C> <C>
Other Current Assets
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Other Assets
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Excess reorganization value, net - -
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Beneficial leases, net 43,802 47,717
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Deferred tax asset - -
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Other assets 12,252 12,252
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Total 56,054 59,969
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LIABILITIES AND OWNER EQUITY BOOK VALUE AT END OF CURRENT BOOK VALUE ON PETITION DATE
REPORTING MONTH
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Other Postpetition Liabilities
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Adverse leases, net (59,850) (61,079)
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Other noncurrent liabilities (77,132) (149,721)
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Total (136,982) (210,800)
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Adjustments to Owner Equity
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Postpetition Contributions (Distributions) (Draws)
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</TABLE>
10
<PAGE>
The Grand Union Company Case No. 00-39613 (NW)
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Debtor Reporting Period: October 2, 2000
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------ ---------------------------------------
Accounts Receivable Reconciliation Amount
------------------------------------------------------------------------------------ ---------------------------------------
<S> <C>
Total Accounts Receivable at the beginning of the reporting period 34,801,315
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+ Amounts billed during the period 4,404,721
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- Amounts collected during the period (10,066,257)
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Total Accounts Receivable at the end of the reporting period 29,139,779
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Accounts Receivable Aging Amount
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0-30 days old 20,874,753
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31-60 days old 1,135,755
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61-90 days old 411,710
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91+ days old 10,631,593
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Total Accounts Receivable 33,053,811
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Amount considered uncollectible (Bad Debt) (3,914,032)
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Accounts Receivable (Net) 29,139,779
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</TABLE>
DEBTOR QUESTIONNAIRE
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------ ------------------------ ---------------------
Must be completed each month Yes No
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<S> <C> <C>
1. Have any assets been sold or transferred outside the normal course of
business this reporting period? If yes, provide an explanation below. X
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2. Have any funds been disbursed from any account other than a debtor in
possession account this reporting period? If yes, provide an explanation below. X
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3. Have all postpetition tax returns been timely filed? If no, provide an
explanation below. X
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4. Are workers compensation, general liability and other necessary insurance
coverages in effect? If no, provide an explanation below. X
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</TABLE>
11