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
August 31, 1998
(Date of report)
SYNCRONYS SOFTCORP
(Exact name of registrant as specified in its charter)
Nevada 0-25736
(State or other jurisdiction of incorporation) (Commission file number)
33-0653223
(I.R.S. Employer Identification No.)
3958 Ince Boulevard
Culver City, California 90232
(Address of principal executive offices and zip code)
(310) 842-9203
(Registrant telephone number)
This Form 8-K consists of 8 pages
Page 1 of 8
Item 5. Other Events.
On August 15, 1998 Syncronys Softcorp filed its first monthly interim statement
And Debtor in Possession Operating Report for the period: July 15, 1998
through July 31, 1998. Reports details listed under Item 7 following this item.
Page 2 of 8
Item 7. Financial Statements and Exhibits.
Office of the United States Trustee
In re: Debtor in Possession Interim Statement
Syncronys Softcorp Statement Number: 1
Debtor For the period From: 15-Jul-98
To: 31-Jul-98
Chapter 11 Case No: LA98-38413VZ
CASH ACTIVITY ANALYSIS (Cash Basis Only) General Payroll Tax
Account Account Account
A. Total Receipts per all Prior
Interim Statements 0 0 0
B. Less: Total Disbursements per all
Prior statements 0 0 0
C. Beginning Balance (A less B) 0 0 0
D. Receipts during Current Period See separate sheet
TOTAL RECEIPTS THIS PERIOD:
E. Balance Available (C plus D) $43,213.60 $17,100.00 $100.00
F. Less Disbursements during Current Period
(Attach Separate Listing if Necessary)
Date Check No. Payee/Purpose
See separate sheet
TOTAL DISBURSEMENTS THIS PERIOD:
G. Ending Balance (E less F) $12,276.48 $16,237.22 $100.00
H. (1) General Account:
(a) Depository Name and Location: Bank of America, 9453 Culver Bl.
Culver City, CA 90232
(b) Account Number: 15811 07930
(2) Payroll Account:
(a) Depository Name and Location: Bank of America, 9453 Culver Bl.
Culver City, CA 90232
(b) Account Number: 15817 07932
(3) Tax Account:
(a) Depository Name and Location: Bank of America, 9453 Culver Bl.
Culver City, CA 90232
(c) Account Number: 15817 07937
I. Other monies on hand (specify type and location) (i.e. Cert. Of Deposit)
$1,003 - CD, Bank of America 9453 Culver Bl. Culver City, CA 90232
I, Alan Hart, declare under penalty of perjury that the information contained in
The above Debtor in Possession Interim Statement is true and complete to the
best of my knowledge.
Dated: 8/31/1998 By: /S/Alan Hart
Accountant
Syncronys Softcorp
Debtor in Possession
Page 3 of 8
July 15, 1998 Through July 31, 1998 - Interim Statement
Bank Accounts
Date Description General Payroll Tax
Deposits
7/17/98 Deposit From pre-petition BofA account 508.32 100.00 100.00
7/22/98 Deposit From pre-petition Norwest
account 9,936.93
7/23/98 Deposit From pre-petition First
Business Bank account 49,768.35
7/28/98 Transfer From General to Payroll (17,000.00) 17,000.00
Total Receipts this period 43,213.60 17,100.00 100.00
Disbursements
7/22/98 CK1001 D. Stephenson pre existing
marketing contract 2,500.00
7/23/98 CK1002 Baja Taco - office meeting 50.00
7/24/98 CK1003 D. Stephenson - pre existing
marketing contract 2,500.00
7/24/98 CK1004 Petty Cash - misc. small
expenses requiring cash 100.00
7/28/98 CK1005 3pco - internet service provider 750.00
7/28/98 CK1006 Dori Calderon - reimbursement
of expenses 71.36
7/31/98 PR-DD July 31 1998 Payroll Direct
Deposits 12,156.22
7/31/98 PR-Taxes July 31 1998 Payroll
Withholding & Taxes 4,081.00
7/31/98 CK1007 D. Stephenson pre existing
marketing contract 2,500.00
7/31/98 CK1008 Ingram Gore - Customer
service consulting 1,000.00
7/31/98 CK1009 S&J Cleaning - office
cleaning and maintenance 356.00
7/31/98 CK1010 BlueShield of California -
Health insurance 2,369.12
7/31/98 CK1011 Sky's - Office meeting 80.00
Total Disbursements this period 12,276.48 16,237.22 0.00
Page 4 of 8
Office of the United States Trustee
In re: Debtor in Possession Operating Report
Syncronys Softcorp Report Number: 1 Page 1 of 3
Debtor For the period From: 15-Jul-98
To: 31-Jul-98
Chapter 11 Case No: LA98-38413VZ
1. Profit and Loss Statement (Accrual Basis only)
A. Related to Business Operations:
Gross Sales $ 0
Less: Sales Returns and Discounts 0
Net Sales 0
Less: Cost of Goods Sold:
Beginning Inventory at Cost 26,994
Add: Purchases 0
Less: Ending Inventory at Cost 26,994
Cost of Goods Sold 0
Gross Profit 0
Other Operating Revenues: 0
Less: Operating Expenses:
Officer Compensation 18,750
Salaries and Wages - Other Employees 15,083
Total Salaries and Wages 33,833
Employee Benefits and Pensions 2,369
Payroll Taxes 1,154
Real Estate Taxes 0
Federal and State Income Tax 0
Total Taxes 1,154
Rent and Lease Exp(Real & Personal Property) 0
Interest Expense (Mortgage, Loan, etc.) 0
Insurance 0
Automobile Expense 0
Utilities (Gas, Elect, Water, Phone) 750
Depreciation and Amortization 465
Repairs and Maintenance 356
Advertising 0
Supplies, Office Expenses, copies, etc.) 805
Bad Debts 0
Miscellaneous Operating Expenses: 11,000 (Marketing Consultants)
Total Operating Expenses 13,376
Net Gain/Loss from Business Operation (50,732)
Page 5 of 8
B. Not Related to Business Operations:
Income:
Interest income 3
Other Non-Operating Revenue (Specify) 0
Gross Proceeds on Sale of Assets 0
Less: Original Cost of Assets plus
Expenses of Sale 0
Net Gain/Loss on Sale of Assets 0
Total Non-Operating Income 3
Expenses Not Related to Business Operations:
Legal and Professional Fees (Specify) 0
Other Non-Operating Expenses (Specify) 0
Total Non-Operating Expenses 0
NET INCOME/LOSS FOR PERIOD $(50,729)
Debtor in Possession Operating Report No: 1 (Page 2 of 3)
2. Aging of Accounts Payable and Accounts Receivable (exclude pre-petition
accounts payable):
Accounts Payable Accounts Receivable
Current Under 30 Days $3,104 $ 0
Overdue 31 - 60 Days 0 0
Overdue 61 - 90 Days 0 0
Overdue 91 - 120 Days 0 0
Overdue Over 121 Days 0 0
TOTAL $3,104 $ 0
3. Statement of Status of Payments to Secured Creditors and Lessors:
N/A
4. Tax Liability:
Gross Payroll Expense for Period: $33,833
Gross Sales for Period Subject to Sales Tax: $ 0
Date Paid Amount Paid Post Petition
Taxes Owed
Federal Payroll & Withholding Taxes 7/31/98 $3,362 $ 0
State Payroll & Withholding Taxes 7/31/98 718 0
State Sales & use Tax N/A 0 0
Real Property taxes N/A 0 0
5. Insurance Coverage: Carrier/ Amount of Policy Premium
Agent Coverage Exp Date Paid Thru Date
Worker's Compensation ABD $1,000,000 10/20/98 7/15/98
Liability ABD 10,000,000 10/20/98 10/20/98
Fire & Extended Coverage ABD 1,000,000 10/20/98 10/20/98
Property ABD 200,000 10/20/98 10/20/98
Theft ABD 200,000 10/20/98 10/20/98
Life (Beneficiary): N/A
Vehicle ABD 30,000 10/20/98 10/20/98
Other (Specify):
D&O Excess ABD 2,500,000 10/27/98 8/4/98
D&O ABD 2,500,000 10/27/98 8/4/98
Page 6 of 8
Debtor in Possession Operating Report No: 1 (Page 3 of 3)
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 has been
authorized by the Court?
: yes Explain:
X : No
7. Statement of Unpaid Professional Fees (Post Petition Amounts Only)
N/A
8. Narrative Report of Significant Events and Events out of the Ordinary Course
of Business: (Attach separate sheet if necessary)
N/A
9. Quarterly Fees; (This fee must be paid to the United States Trustee every
calendar quarter)
N/A
I, Alan Hart, 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: 8/31/98
By: /S/Alan Hart
Accountant
Syncronys Softcorp
Debtor in Possession
Page 7 of 8
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
SYNCRONYS SOFTCORP
(Registrant)
Date: August 31, 1998 By: /S/ Walter D. Doyle
Walter D. Doyle
President/CEO
Page 8 of 8
