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
April 30, 1999
(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 April 15, 1999 Syncronys Softcorp filed its ninth Monthly Interim
Statement and Debtor in Possession Operating Report for the period: March 1,
1999 through March 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: 9
Debtor For the period From: 1-Mar-99
Chapter 11 Case No: LA98-38413VZ To: 31-Mar-99
CASH ACTIVITY ANALYSIS (Cash Basis Only) General Payroll Tax
Account Account Account
A. Total Receipts per all Prior
Interim Statements $746,695.26 192,237.23 100.00
B. Less: Total Disbursements per all
Prior statements 482,262.66 192,149.50 90.00
C. Beginning Balance (A less B) 264,432.60 87.73 10.00
D. Receipts during Current Period See separate sheet
TOTAL RECEIPTS THIS PERIOD: 3,325.80 21,400.00 0
E. Balance Available (C plus D) 267,758.40 21,487.73 10.00
F. Less Disbursements during Current Period
(Attach Separate Listing if Necessary)
Date Check No. Payee/Purpose
See separate sheet
TOTAL DISBURSEMENTS THIS PERIOD: 141,219.54 21,379.09
G. Ending Balance (E less F) $126,538.86 $108.64 $10.00
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 - None
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: 4/15/99
Walter D. Doyle Alan Hart
President / CEO Accountant
Syncronys Softcorp Syncronys Softcorp
Debtor in Possession Debtor in Possession
Page 3 of 10
Bank Accounts
Date Type Description General Payroll Tax
Receipts
03/01/99 Deposit Digital River & Misc. Sales 764.64
03/11/99 Xfer Transfer to payroll Account 10,700.00
03/15/99 Deposit Misc. Sales and A/R Collections 2,251.13
03/29/99 Xfer Transfer to Payroll Account 10,700.00
03/31/99 Void Ck # 1251 (from 2/24/99) voided 310.03
Total Receipts this period 3,325.80 21,400.00
Less Transfers between accounts 0.00 21,400.00
Net Deposit 3,325.80 0.00
Disbursements
03/01/99 CK1255 Ingram Gore - Consulting 1,100.00
03/01/99 CK1256 Brian Semler - March 99 Rent 2,481.60
03/01/99 CK1257 Michael Berg - Exp. Reimburse. 177.00
03/01/99 CK1258 Beckman, Millman & Sanders -
Law Firm - Retainer 5,000.00
03/02/99 CK1259 Walter Doyle - Exp. Reimburse. 5,000.00
03/02/99 CK1260 Federal Express - Courier Serv. 12.50
03/02/99 CK1261 April Robertson - Consulting 1,000.00
03/02/99 ED ADP Payroll Processing Fee 34.75
03/08/99 CK1262 Carl Kosnar - Consulting 4,000.00
03/08/99 CK1263 Standard Registrar -
Transfer Agent Fees 4,135.00
03/11/99 Xfer Transfer to payroll Account 10,700.00
03/12/99 CK1264 B&B Hardware - Misc. Office exp. 2.06
03/12/99 ED payroll Taxes 2,186.86
03/15/99 ED Payroll net Amount 8,443.58
03/15/99 CK1265 Void check
03/15/99 CK1266 David Stephenson - Accrued exp. 8,000.00
03/15/99 CK1267 RJ Young Design - Accrued exp. 4,000.00
03/15/99 CK1268 Ingram Gore - Consulting 1,100.00
03/15/99 CK1269 Ingram Gore - Expense reimb. 134.19
03/15/99 CK1270 Daniel Taylor - Accrued exp. 16,000.00
03/15/99 CK1271 Rainer Poertner - Accrued exp. 16,000.00
03/17/99 CK1272 Void check
03/17/99 CK1273 Ince Properties
Accrued expenses - Rent 21,864.35
03/17/99 CK1274 Summitt Reprographics -
Legal printing 421.38
03/17/99 ED ADP Payroll Processing Fee 34.75
03/17/99 CK1275 Federal Express - Accrued exp. 250.00
03/17/99 CK1276 Southern CA Edison - Accrued exp. 891.30
03/17/99 CK1277 Pacific Bell - Accrued expenses 663.50
03/17/99 CK1278 Pacific Alarm - Accrued expenses 192.50
03/22/99 CK1280 Carl Kosnar - Consulting 4,000.00
03/23/99 CK1281 Blue Shield - Group Insurance 73.63
03/23/99 CK1282 LA Municipal Services - Power 262.26
03/23/99 CK1283 Cyberverse - Web page hosting 324.80
Page 4 of 10
03/23/99 CK1284 Frontier Comm. - Phone Bill 200.17
03/23/99 CK1285 GTE California - Phone Bill 1,124.10
03/23/99 CK1286 Kelly Services - Temp. Service 1,059.49
03/23/99 CK1287 Pacific Alarm - Alarm System 35.00
03/23/99 CK1288 Smart & Final - Supplies 117.03
03/23/99 CK1289 Vision Plan Service - Group Ins. 47.68
03/23/99 CK1290 Lonna Walker - Expense reimb. 5,000.00
03/23/99 CK1291 EquiVest Heritage Group - Exp.
Reimbursement 7,500.00
03/23/99 CK1292 Taurus Group - Expense Reimb. 7,500.00
03/29/99 Xfer Transfer to Payroll Account 10,700.00
03/29/99 ED Misc. Payroll Taxes 13.96
03/30/99 ED Payroll Taxes 2,186.85
03/31/99 ED ADP Payroll Processing Fee 34.75
03/31/99 ED Payroll Net Amount 8,443.59
Total Disbursement this period $141,219.54 21,379.09 0.00
Less transfers between accounts 21,400.00 0.00 0.00
Net Disbursements this period 119,819.54 21,379.09 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: 9
Debtor For the period From: 1-Mar-99
Chapter 11 Case No: LA98-38413VZ To: 31-Mar-99
1. Profit and Loss Statement (Accrual Basis only)
A. Related to Business Operations:
Gross Sales $884
Less: Sales Returns and Discounts 23
Net Sales 861
Less: Cost of Goods Sold:
Beginning Inventory at Cost 0
Add: Purchases
Less: Ending Inventory at Cost 0
Cost of Goods Sold 0
Gross Profit 861
Other Operating Revenues: 0
Less: Operating Expenses:
Officer Compensation 0
Salaries and Wages - Other Employees 19,750
Total Salaries and Wages 19,750
Employee Benefits and Pensions 793
Payroll Taxes 1,525
Real Estate Taxes 0
Federal and State Income Tax 0
Total Taxes 1,525
Rent and Lease Exp(Real & Personal Prop) 2,482
Interest Expense (Mortgage, Loan, etc.) 0
Insurance 0
Automobile Expense 0
Utilities (Gas, Elect, Water, Phone) 269
Depreciation and Amortization 465
Repairs and Maintenance 150
Advertising 0
Supplies, Office Expenses, copies, etc.) 708
Bad Debts 0
Miscellaneous Operating Expenses: 15,468 (see attached sheet)
Total Operating Expenses 41,610
Net Gain/Loss from Business Operations (40,749)
B. Not Related to Business Operations:
Income:
Interest income 74
Other Non-Operating Revenue -Misc. 45,455
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 45,529
Expenses Not Related to Business Operations:
Legal and Professional Fees - Legal, BK Attorney 17,950
Other Non-Operating Expenses (Specify) 0
Total Non-Operating Expenses 0
NET INCOME/LOSS FOR PERIOD $ (13,170)
Page 6 of 10
Syncronys Softcorp March 1999 Misc. Operating Expenses
Bank Charges 0
Business License 0
Consultants - G&A 9,000
Consultants - M&S 2,200
Copier & Postage meter lease 184
Corporate Fees 177
Courier 107
Dues and Subscriptions 0
Misc. office Expenses 381
Misc. R&D 0
Payroll Service - fees 104
Postage 0
Press releases 0
Telephone 1,294
Temporary personnel 1,342
Web Site & Internet 679
Total Misc. Operating Expenses $15,468
Page 7 of 10
Debtor in Possession Operating Report No: 9 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 $2,017 $ 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 $2,017 $ 0
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 $213.43 4/09/99
4. Tax Liability:
Gross Payroll Expense for Period: $19,750
Gross Sales for Period Subject to Sales Tax: $ 0
Date Paid Amount Paid Post Petition
Taxes Owed
Federal Payroll & Withholding 3/15/99 $1,752
Taxes 3/31/99 1,752 0
State Payroll & Withholding 3/15/99 435
Taxes 3/31/99 435 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: 9 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 $30,113
8. Narrative Report of Significant Events and Events out of the Ordinary Course
of Business: (Attach separate sheet if necessary)
On March 17, 1997 Syncronys Softcorp filed its Disclosure Statement and Plan of
Reorganization.
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
Dec. 31, 1998 204,986 1,250 01/29/99 1,250 1205 0
March 31, 1999 249,357 1,250 $1,250
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: 4/15/99
Walter D. Doyle Alan Hart
President / CEO Accountant
Syncronys Softcorp Syncronys Softcorp
Debtor in Possession 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: April 30, 1999 By: /S/ Walter D. Doyle
Walter D. Doyle
President/CEO
Page 10 of 10
