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
June 1, 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 May 17, 1999 Syncronys Softcorp filed its tenth Monthly Interim
Statement and Debtor in Possession Operating Report for the period: April 1,
1999 through April 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: 10
Debtor For the period From: 1-Apr-99
Chapter 11 Case No: LA98-38413VZ To: 30-Apr-99
CASH ACTIVITY ANALYSIS (Cash Basis Only) General Payroll Tax
Account Account Account
A. Total Receipts per all Prior
Interim Statements $750,021.06 213,637.23 100.00
B. Less: Total Disbursements per all
Prior statements 623,482.20 213,528.59 90.00
C. Beginning Balance (A less B) 126,538.86 108.64 10.00
D. Receipts during Current Period See separate sheet
TOTAL RECEIPTS THIS PERIOD: 101,355.64 21,400.00 0
E. Balance Available (C plus D) 227,894.50 21,508.64 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: 50,672.05 21,301.62 0
G. Ending Balance (E less F) $177,222.45 $207.02 $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 - BK Attorney Client Trust Account Mellon 1st Business
Bank Account # 0050-205029 Amount as of April 30, 1999: 17,668.43
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: 5/17/99
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
04/01/99 Deposit Misc. Sales 762.92
04/13/99 Xfer Transfer to Payroll Account 10,600.00
04/16/99 Deposit Secured Loan 100,000.00
04/22/99 Deposit Misc. Sales 58.98
04/28/99 Xfer Transfer to payroll Account 10,800.00
04/30/99 Deposit Misc. Sales 533.74
Total Receipts this period 101,355.64 21,400.00
Less Transfers between accounts 0.00 21,400.00
Net Deposit 101,355.64 0.00
Disbursements
04/01/99 CK1293 Ingram Gore - Consulting 1,100.00
04/01/99 CK1294 Brian Semler - April 1999 rent 2,481.60
04/07/99 CK1295 Southwestern Bell - Phone bill 126.55
04/08/99 CK1296 Smart & Final - Replacement
of CK1251 (lost) 310.03
04/09/99 CK1297 Smart & Final - Supplies 206.34
04/13/99 CK1298 Carl Kosnar - Consulting 4,000.00
04/13/99 Xfer Transfer to Payroll Account 10,600.00
04/14/99 ED Payroll Taxes 2,186.84
04/15/99 ED Payroll Net Amount 8,443.59
04/15/99 ED ADP Payroll processing fee 40.75
04/15/99 CK1299 April Robertson - Consulting 1,000.00
04/15/99 CK1230 Ingram Gore - Consulting 1,100.00
04/15/99 CK1231 Don Ross 250.00
04/16/99 CK1302 EquiVest Heritage Group -
Expense Reimbursement 12,000.00
04/16/99 CK1303 Federal Express - Courier 24.75
04/20/99 CK1304 Allstate Maintenance - Cleaning 150.00
04/20/99 CK1305 Blue Shield - Group Insurance 73.63
04/20/99 CK1306 Blue Shield - Group Insurance 671.75
04/20/99 CK1307 LA Municipal Services - Power 233.71
04/20/99 CK1308 Cyberverse - Web Page Hosting 344.80
04/20/99 CK1309 DHL - Courier Service 94.33
04/20/99 CK1310 GTE - ISDN Line 317.70
04/20/99 CK1311 GTE - Phone Bill 756.60
04/20/99 CK1312 IOS Capital - Copier Lease 183.88
04/20/99 CK1313 Kelly Services - Temp. Service 1,044.62
04/20/99 CK1314 Pacific Alarm - Alarm Service 35.00
04/20/99 CK1315 The Shredders - Misc. office Exp. 245.00
04/20/99 CK1316 Viking Office Prod.-Office Supp. 171.76
04/28/99 Xfer Transfer to Payroll Account 10,800.00
Page 4 of 10
04/29/99 CK1317 Office of US Trustee - Qtr Fees 1,250.00
04/29/99 ED Payroll Taxes 2,186.85
04/30/99 ED Payroll Net Amount 8,443.59
04/30/99 CK1318 Ingram Gore - Consulting 1,100.00
Total Disbursement this period $50,672.05 21,301.62 0.00
Less transfers between accounts 21,400.00 0.00 0.00
Net Disbursements this period 29,272.05 21,301.62 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: 10
Debtor For the period From: 1-Apr-99
Chapter 11 Case No: LA98-38413VZ To: 30-Apr-99
1. Profit and Loss Statement (Accrual Basis only)
A. Related to Business Operations:
Gross Sales $1,356
Less: Sales Returns and Discounts 0
Net Sales 1,356
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 1,356
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 1,511
Real Estate Taxes 0
Federal and State Income Tax 0
Total Taxes 1,511
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) 226
Depreciation and Amortization 465
Repairs and Maintenance 282
Advertising 0
Supplies, Office Expenses, copies, etc.) 318
Bad Debts 0
Miscellaneous Operating Expenses: 24,014 (see attached sheet)
Total Operating Expenses 49,841
Net Gain/Loss from Business Operations (48,485)
B. Not Related to Business Operations:
Income:
Interest income 88
Other Non-Operating Revenue -Misc. 40,000
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 40,000
Expenses Not Related to Business Operations:
Legal and Professional Fees - Legal, BK Attorney 8,758
Other Non-Operating Expenses (Specify) 0
Total Non-Operating Expenses 0
NET INCOME/LOSS FOR PERIOD $ (17,155)
Page 6 of 10
Syncronys Softcorp April 1999 Misc. Operating Expenses
Alarm Service 35
Bank Charges 0
Business License 0
Consultants - G&A 5,000
Consultants - M&S 2,200
Copier & Postage meter lease 213
Corporate Fees 1,250
Courier 25
Dues and Subscriptions 0
Exp. Reimbursement - consultants 12,000
Misc. office Expenses 249
Payroll Service - fees 41
Postage 0
Press releases 0
Telephone 1,268
Temporary personnel 1,071
Web Site & Internet 662
Total Misc. Operating Expenses $24,014
Page 7 of 10
Debtor in Possession Operating Report No: 10 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 $2,010 $ 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 $2,010 $ 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 5/09/99
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 4/15/99 $1,752
Taxes 4/30/99 1,752 0
State Payroll & Withholding 4/15/99 435
Taxes 4/30/99 435 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 10/20/99
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: 10 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 $38,871
8. Narrative Report of Significant Events and Events out of the Ordinary Course
of Business: (Attach separate sheet if necessary)
None
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 04/29/99 1,250 1317 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: 5/17/99
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: June 1, 1999 By: /S/ Walter D. Doyle
Walter D. Doyle
President/CEO
Page 10 of 10
