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
November 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.)
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 10 pages
Page 1 of 10
Item 5. Other Events.
On November 15, 1998 Syncronys Softcorp filed its fourth Monthly Interim
Statement and Debtor in Possession Operating Report for the period: October 1,
1998 through October 31, 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: 4
Debtor For the period From: 1-Oct-98
Chapter 11 Case No: LA98-38413VZ To: 31-Oct-98
CASH ACTIVITY ANALYSIS (Cash Basis Only) General Payroll Tax
Account Account Account
A. Total Receipts per all Prior
Interim Statements $182,665.13 95,600.00 100.00
B. Less: Total Disbursements per all
Prior statements 183,289.76 94,678.07 0
C. Beginning Balance (A less B) (624.63) 921.93 100.00
D. Receipts during Current Period See separate sheet
TOTAL RECEIPTS THIS PERIOD: 59,590.64 0 0
E. Balance Available (C plus D) 58,966.01 921.93 100.00
F. Less Disbursements during Current Period
(Attach Separate Listing if Necessary)
Date Check No. Payee/Purpose
See separate sheet
TOTAL DISBURSEMENTS THIS PERIOD: 49,574.95 118.50 0
G. Ending Balance (E less F) $9,391.06 $803.43 $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: 11/15/1998 /s/Alan Hart
Accountant
Syncronys Softcorp
Debtor in Possession
Page 3 of 10
October 1, 1998 Through October 31, 1998 - Interim Statement
Bank Accounts
Date Type Description General Payroll Tax
Receipts
10/05/98 Deposit Digital River & Misc. Sales 2,585.50
10/06/98 Deposit Secured Loan 1,000.00
10/06/98 Deposit Misc. Sales 19.95
10/07/98 Deposit Secured Loan 500.00
10/09/98 Deposit Pac Bell Refund & Misc. Sales 242.26
10/13/98 Deposit A/R Collections 8,103.00
10/15/98 Deposit Secured Loan 12,000.00
10/26/98 Deposit Secured Loan 35,000.00
10/26/98 Deposit Misc. Sales 39.95
10/29/98 Deposit Misc. Sales 99.98
Total Receipts this period 59,590.64
Disbursements
10/01/98 CK1066 Walter Doyle - Advance
against expenses 750.00
10/06/98 CK1082 Brandi Flores - Last check 1,887.34
10/07/98 CK1083 Jason Knox - Last check 429.55
10/07/98 CK1084 Secretary of State (CA)
Filing Fees 20.00
10/07/98 CK1085 SJ Maintenance - Cleaning 250.00
10/13/98 DR Paychex monthly invoice 118.50
10/15/98 CK1086 Jeff Bridgeford - advance
against payroll 1,430.46
10/15/98 CK1087 Dori Calderon - advance
against payroll 918.35
10/15/98 CK1088 Alan Hart - advance against
payroll 7,497.67
10/15/98 CK1090 Ingram Gore - customer
service consulting 1,100.00
10/15/98 CK1091 Budgetel Communications -
A/P payment 151.00
10/15/98 CK1092 Culver City Lock & Key -
A/P payment 35.83
10/15/98 CK1093 Cyberverse - A/P payment 897.30
10/15/98 CK1094 Franchise Tax Board -
State Min. estimated I/T 800.00
10/15/98 CK1095 IOS Capital - A/P payment 213.43
10/15/98 CK1096 Kelly Services - A/P payment 609.67
10/15/98 CK1098 Laser Care - A/P payment 127.52
10/15/98 CK1099 Pacific Alarm - A/P payment 298.06
10/15/98 CK1100 QRS Software - A/P payment 30.90
10/15/98 CK1101 Smart & Final - A/P payment 147.09
10/15/98 CK1102 Southern CA Edison - A/P pmt 1,005.82
10/15/98 CK1103 Sothern CA Water - A/P payment 43.36
10/26/98 ED Bank service charge 121.36
10/28/98 CK1105 Lonna Walker - Expense
reimbursement 926.20
Page 4 of 10
10/29/98 CK1107 State Compensation Insurance
Fund - Workers Comp. Insurance 853.00
10/29/98 CK1108 Arrowhead Water - A/P payment 84.99
10/29/98 CK1115 Blue Cross of CA - Dental Plan 406.20
10/29/98 CK1069 Stop payment of CK1069 - lost
Original payee - Blue Shield (2,369.12)
10/29/98 CK1116 Blue Shield of CA - Health plan 2,645.09
10/29/98 CK1117 US Trustee - Quarterly fees 1,250.00
10/29/98 CK1118 EDD - Payroll taxes (CA) 708.41
10/29/98 CK1119 Bank of America - Payroll
taxes (Federal) 2,370.73
10/30/98 CK1120 Ingram Gore - Customer service
consulting 1,100.00
10/30/98 CK1121 Jeff Bridgeford - Advance
against payroll 1,430.46
10/30/98 CK1122 Dori Calderon - Advance
against payroll 918.35
10/30/98 CK1123 Alan Hart - Advance against
payroll 7,497.67
10/30/98 CK1124 Frontier Communications -
A/P payment 1,210.63
10/30/98 CK1125 Ikon Office Solutions -
A/P payment 145.00
10/30/98 CK1126 IOS Capital - A/P payment 266.88
10/30/98 CK1127 Kelly Services - A/P payment 327.14
10/30/98 CK1128 Laser Care - A/P payment 302.99
10/30/98 CK1129 Pitney Bowes - A/P payment 145.18
10/30/98 CK1130 PR Newswire - A/P payment 525.00
10/30/98 CK1131 Southwestern Bell - A/P payment 65.44
10/30/98 CK1132 Tom Brandon - Secured loan 10,000.00
Total Disbursement this period $49,574.95 $118.50 $0
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: 4
Debtor For the period From: 1-Oct-98
Chapter 11 Case No: LA98-38413VZ To: 31-Oct-98
1. Profit and Loss Statement (Accrual Basis only)
A. Related to Business Operations:
Gross Sales $ 7,253
Less: Sales Returns and Discounts 0
Net Sales 7,253
Less: Cost of Goods Sold:
Beginning Inventory at Cost 21,710
Add: Purchases 926
Less: Ending Inventory at Cost 21,710
Cost of Goods Sold 926
Gross Profit 6,327
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 1,617
Payroll Taxes 710
Real Estate Taxes 185
Federal and State Income Tax 800
Total Taxes 1,695
Rent and Lease Exp(Real & Personal Prop)10,883
Interest Expense (Mortgage, Loan, etc.) 0
Insurance 146
Automobile Expense 0
Utilities (Gas, Elect, Water, Phone) 269
Depreciation and Amortization 465
Repairs and Maintenance 250
Advertising 0
Supplies, Office Expenses, copies, etc.) 83
Bad Debts 0
Miscellaneous Operating Expenses: 39,267 (see attached sheet)
Total Operating Expenses 76,925
Net Gain/Loss from Business Operations (70,598)
B. Not Related to Business Operations:
Income:
Interest income 4
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 4
Expenses Not Related to Business Operations:
Legal and Professional Fees (Specify) - Legal 11,858
Other Non-Operating Expenses (Specify) 0
Total Non-Operating Expenses 11,858
NET INCOME/LOSS FOR PERIOD $(82,452)
Page 6 of 10
Syncronys Softcorp October 1998 Misc. Operating Expenses
Bank Charges 121
Consultants - G&A 25,000
Consultants - M&S 2,200
Corporate Fees 20
Courier 14
Dues and Subscriptions 0
Misc. Marketing Expenses 100
Misc. Office Expense 33
Misc. R&D 0
Payroll Service 118
Postage 0
Technical Support 8,598
Telephone 840
Temporary personnel 1,182
Web Site & Internet 1,041
Total Misc. Operating Expenses $39,267
Page 7 of 10
Debtor in Possession Operating Report No: 4 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 $5,236 $ 11,306
Overdue 31 - 60 Days 0 2,975
Overdue 61 - 90 Days 0 0
Overdue 91 - 120 Days 0 0
Overdue Over 121 Days 0 0
TOTAL $5,236 $ 14,281
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 11/30/98
Pitney Bowes qtr 120.17 11/30/98
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
Taxes 10/29/98 $2,371 $ 0
State Payroll & Withholding
Taxes 10/29/98 708 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: 4 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 $10,608.11
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)
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: 11/15/98
/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: November 30, 1998 By: /S/ Walter D. Doyle
Walter D. Doyle
President/CEO
Page 10 of 10
