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
December 30, 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.)
13465 Beach Avenue
Marina del rey, CA 90292
(Address of principal executive offices and zip code)
(310) 823-9513
(Registrant telephone number)
This Form 8-K consists of 10 pages
Page 1 of 10
Item 5. Other Events.
On December 15, 1998 Syncronys Softcorp filed its fifth Monthly Interim
Statement and Debtor in Possession Operating Report for the period: November
1, 1998 through November 30, 1998. Reports details listed under Item 7
following this item.
Page 2 of 10
Item 7. Financial Statements and Exhibits.
Office of the United States Trustee
In re: Debtor in Possession Interim Statement
Syncronys Softcorp Statement Number: 5
Debtor For the period From: 1-Nov-98
Chapter 11 Case No: LA98-38413VZ To: 30-Nov-98
CASH ACTIVITY ANALYSIS (Cash Basis Only) General Payroll Tax
Account Account Account
A. Total Receipts per all Prior
Interim Statements $242,255.77 95,600.00 100.00
B. Less: Total Disbursements per all
Prior statements 232,864.71 94,796.57 0
C. Beginning Balance (A less B) 9,391.06 803.43 100.00
D. Receipts during Current Period See separate sheet
TOTAL RECEIPTS THIS PERIOD: 107,117.10 22,300.00 0
E. Balance Available (C plus D) 116,508.16 23,103.43 100.00
F. Less Disbursements during Current Period
(Attach Separate Listing if Necessary)
Date Check No. Payee/Purpose
See separate sheet
TOTAL DISBURSEMENTS THIS PERIOD: 119,874.11 23,042.49 0
G. Ending Balance (E less F) $(3,365.95) $60.94 $100.00
H. (1) General Account:
(a) Depository Name and Location: B of A Customized Accounting Services #1581
345 Montgomery St., San Francisco, CA 94101
(b) Account Number: 15811 07930
(2) Payroll Account:
(a) Depository Name and Location: B of A Customized Accounting Services #1581
345 Montgomery St., San Francisco, CA 94101
(b) Account Number: 15817 07932
(3) Tax Account:
(a) Depository Name and Location: B of A Customized Accounting Services #1581
345 Montgomery St., San Francisco, CA 94101
(c) Account Number: 15817 07937
I. Other monies on hand (specify type and location) (i.e. Cert. Of Deposit)
$1,015 - 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: 12/15/1998 /s/Alan Hart
Accountant
Syncronys Softcorp
Debtor in Possession
Page 3 of 10
November 1, 1998 Through November 30, 1998 - Interim Statement
Bank Accounts
Date Type Description General Payroll Tax
Receipts
11/02/98 Deposit Digital River & Misc. Sales 2,236.63
11/05/98 Deposit Secured Loan 3,600.00
11/13/98 Deposit Secured Loan 99,982.00
11/13/98 Deposit Misc. Sales 2 checks 69.94
11/13/98 Xfer Transfer to Payroll Account 12,000.00
11/16/98 Deposit A/R Collections 1,071.75
11/25/98 Deposit Misc. Sales 156.78
11/25/98 Xfer Transfer to Payroll Account 500.00
11/30/98 Xfer Transfer to Payroll Account 9,800.00
Total Receipts this period 107,117.10 22,300.00
Less Transfers between accounts 22,300.00
Net Deposit 107,117.10 0.00
Disbursements
11/04/98 ED Electronic Debit-Returned Item 49.99
11/05/98 CK1136 Southern CA Gas Company - A/P 76.08
11/04/98 CK1137 Tom Brandon - Expense
reimbursement 3,600.00
11/05/98 CK1139 SJ Maintenance - cleaning 187.50
11/05/98 CK1140 Southwestern Bell 128.18
11/05/98 CK1141 Unique Data - A/P 100.00
11/05/98 CK1142 Huntington Park Rubber Stamp Co.
Misc. office expense 14.96
11/09/98 CK1143 Standard Registrar -
Transfer agent - fees 1,235.00
11/10/98 ED Paychex fees for Oct. 98 50.00
11/13/98 Xfer Transfer to payroll account 12,000.00
11/13/98 CK1151 Gore, Ingram - A/P 1,100.00
11/15/98 Payroll Payroll net amount 9,853.33
11/15/98 Payroll ADP - Payroll Taxes 1,626.59
11/15/98 Payroll ADP - Payroll processing fees 32.50
11/16/98 ED Bank charges - check printing 43.37
11/17/98 CK1152 Secured Loan 38,000.00
11/17/98 Wire Walter Doyle - Advance
against expenses 10,000.00
11/17/98 CK1144 Lonna Walker - Expense
reimbursement 3,000.00
11/18/98 CK1133 Lonna Walker - Expense
reimbursement 5,000.00
11/18/98 CK1134 Tom Brandon - Expense
reimbursement 6,500.00
11/18/98 CK1135 April Robertson - Director's
Fees 2,500.00
11/18/98 CK1138 Tom Brandon - Expense
reimbursement 2,500.00
11/19/98 CK1153 Brian Semler - Rent and
security Deposit 6,204.00
Page 4 of 10
11/19/98 CK1145 Tom Brandon - Expense
reimbursement 8,000.00
11/20/98 CK1154 ISU Bob Gabriel - Insurance
Premiums - Contents & Liability 2,475.00
11/21/98 CK1155 Carole & Jan's - Moving Expense 1,296.50
11/23/98 CK1109 Pacific Alarm - A/P 385.00
11/23/98 CK1110 Pitney Bowes - Postage meter
lease 120.17
11/23/98 CK1111 The Shredders - A/P 210.00
11/23/98 CK1112 Viking Office Products - A/P 97.48
11/23/98 CK1113 Budgetel Comm. - Phone
installation deposit (50%) 773.51
11/23/98 CK1146 Arrowhead Spring Water - A/P 36.07
11/23/98 CK1147 Dori Calderon - Expense
reimbursement 41.54
11/23/98 CK1148 Cyberverse - A/P 324.80
11/23/98 CK1149 IOS Capital - Copier lease 223.28
11/23/98 CK1150 Kelly Services - A/P 944.25
11/25/98 Xfer Transfer to P/R account 500.00
11/25/98 ED Account analysis charge Oct 98 107.43
11/27/98 ED Payroll taxes for 11/30/98 1,624.23
11/30/98 Payroll Payroll Net Amount 9,855.84
11/30/98 Xfer Transfer to Payroll Account 9,800.00
11/30/98 CK1156 Gore, Ingram - A/P 1,100.00
11/30/98 CK1157 Carl Kosnar - Consulting 1,200.00
Total Disbursement this period $119,874.11 23,042.49 0.00
Less transfers between accounts 22,300.00
Net Disbursements this period 97,574.11 23,042.49 0.00
Page 5 of 10
Office of the United States Trustee
In re: Debtor in Possession Operating Report Page 1 of 3
Syncronys Softcorp Report Number: 5
Debtor For the period From: 1-Nov-98
Chapter 11 Case No: LA98-38413VZ To: 30-Nov-98
1. Profit and Loss Statement (Accrual Basis only)
A. Related to Business Operations:
Gross Sales $ 2,413
Less: Sales Returns and Discounts 0
Net Sales 2,413
Less: Cost of Goods Sold:
Beginning Inventory at Cost 21,710
Add: Purchases
Less: Ending Inventory at Cost 21,710
Cost of Goods Sold 0
Gross Profit 2,413
Other Operating Revenues: 0
Less: Operating Expenses:
Officer Compensation 0
Salaries and Wages - Other Employees 22,250
Total Salaries and Wages 22,250
Employee Benefits and Pensions 148
Payroll Taxes 710
Real Estate Taxes 185
Federal and State Income Tax 0
Total Taxes 895
Rent and Lease Exp(Real & Personal Prop)10,540
Interest Expense (Mortgage, Loan, etc.) 3,000
Insurance 2,621
Automobile Expense 0
Utilities (Gas, Elect, Water, Phone) 1,197
Depreciation and Amortization 465
Repairs and Maintenance 187
Advertising 0
Supplies, Office Expenses, copies, etc.) 57
Bad Debts 0
Miscellaneous Operating Expenses: 11,243 (see attached sheet)
Total Operating Expenses 52,603
Net Gain/Loss from Business Operations (50,190)
B. Not Related to Business Operations:
Income:
Interest income 0
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 0
Expenses Not Related to Business Operations:
Legal and Professional Fees - Legal, BK Attorney 3,063
Other Non-Operating Expenses (Specify) 0
Total Non-Operating Expenses 0
NET INCOME/LOSS FOR PERIOD $(53,253)
Page 6 of 10
Syncronys Softcorp November 1998 Misc. Operating Expenses
Bank Charges 125
Consultants - G&A 1,200
Consultants - M&S 2,200
Copier & Postage meter lease 223
Corporate Fees 1,235
Courier 31
Dues and Subscriptions 0
Misc. Marketing Expenses 0
Misc. Office Expense 0
Misc. R&D 0
Moving expense 3,377
Payroll Service - fees 82
Postage 0
Technical Support 0
Telephone 1,169
Temporary personnel 833
Web Site & Internet 768
Total Misc. Operating Expenses $11,243
Page 7 of 10
Debtor in Possession Operating Report No: 5 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 $7,478 $ 10,235
Overdue 31 - 60 Days 686 2,975
Overdue 61 - 90 Days 0 0
Overdue 91 - 120 Days 0 0
Overdue Over 121 Days 0 0
TOTAL $8,164 $ 13,210
3. Statement of Status of Payments to Secured Creditors and Lessors:
Creditor/Lessor Freq. Of Payments Amount of Next Post-Petition
Per Contract/Lease Each Payment Payment Payments Not Made
(i.e. mo., qtr.) Due Number Amount
IOS Capital mo $223.28 12/31/98
4. Tax Liability:
Gross Payroll Expense for Period: $22,250
Gross Sales for Period Subject to Sales Tax: $ 0
Date Paid Amount Paid Post Petition
Taxes Owed
Federal Payroll & Withholding 11/13/98
Taxes 11/27/98 $2,277 $ 0
State Payroll & Withholding 11/13/98
Taxes 11/27/98 973 0
State Sales & use Tax N/A N/A N/A
Real Property taxes N/A N/A N/A
5. Insurance Coverage: Carrier/ Amount of Policy Premium Paid
Agent Coverage Exp Date Through Date
Worker's Compensation ISU Bob Gabriel $1,000,000 10/20/99 7/15/99
Liability Same 2,000,000 11/20/99 11/20/99
Fire & Extended Coverage Same 50,000 11/20/99 11/20/99
Property Same 50,000 11/20/99 11/20/99
Theft Same 50,000 11/20/99 11/20/99
Life (Beneficiary): N/A
Vehicle N/A
Other (Specify):
Page 8 of 10
Debtor in Possession Operating Report No: 5 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)
Name of Professional State Type of Total Post
Professional Petition Amount
(Attorney/Accountant, etc.) Unpaid
Levene, Neale, Bender & Rankin BK Attorney $13,671
8. Narrative Report of Significant Events and Events out of the Ordinary Course
of Business: (Attach separate sheet if necessary)
On December 1, 1998 the company moved its headquarters to: 13465 Beach Ave.,
Marina del Rey, CA 90292
9. Quarterly Fees; (This fee must be paid to the United States Trustee every
calendar quarter)
Quarterly Period Total Distribution Quarterly Date Amount Check Quarterly Fee
Ending for Quarter Fee Paid Paid No. Still Owing
Sept. 30, 1998 $198,968 $1,250 10/29/98 $1,250 1117 0
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: 12/15/98
/s/Alan Hart
Accountant
Syncronys Softcorp
Debtor in Possession
Page 9 of 10
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: December 30, 1998 By: /S/ Walter D. Doyle
Walter D. Doyle
President/CEO
Page 10 of 10
