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Previous: INFORMATION MANAGEMENT ASSOCIATES INC, 8-K, 2000-10-24 |
Next: DELCATH SYSTEMS INC, 424B3, 2000-10-24 |
Exhibit 99.1
--------------------------------------------------------------------------------
CASE NAME: INFORMATION MANAGEMENT ASSOCIATES, INC.
--------------------------------------------------------------------------------
CASE NUMBER: 00-33268 ACCRUAL BASIS
--------------------------------------------------------------------------------
JUDGE: Lorraine Murphy Weil
--------------------------------------------------------------------------------
UNITED STATES BANKRUPTCY COURT
DISTRICT OF CONNECTICUT
NEW HAVEN DIVISION
MONTHLY OPERATING REP0RT
MONTH ENDING - SEPTEMBER, 2000
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE
UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING
REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-6) AND THE ACCOMPANYING
ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT
AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY), IS
BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
/s/ Michael P. McGroarty Chief Operating Officer
---------------------------------------- -----------------------------
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY TITLE
Michael P. McGroarty 10/16/00
---------------------------------------- -----------------------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
Senior Vice President
/s/ Sheldon A. Paul Finance and Administration
---------------------------------------- -----------------------------
ORIGINAL SIGNATURE OF PREPARER TITLE
Sheldon A. Paul 10/16/00
---------------------------------------- -----------------------------
PRINTED NAME OF PREPARER DATE
<PAGE>
NAME : INFORMATION MANAGEMENT ASSOCIATES, INC.
CASE NUMBER :00-33268
COMPARATIVE BALANCE SHEET
<TABLE>
<CAPTION>
Schedule
Amount
------
ASSETS July 24, 2000 July 31, 2000 August 31, 2000 September 30, 2000
------------- ------------- --------------- ------------------
<S> <C> <C> <C> <C>
1 UNRESTRICTED CASH $ 745,751 $ 960,212 $ 612,061 $ 456,377
2 RESTRICTED CASH 414,160 414,160 414,160 420,831
--------------------------------------------------------------
3 TOTAL CASH 1,159,911 1,374,372 1,026,221 877,208
--------------------------------------------------------------
4 ACCOUNTS RECEIVABLE(NET) 659,117 717,824 946,711 809,405
5 INVENTORY 44,647 44,647 44,647 44,647
6 NOTES RECEIVABLE - - - -
7 PREPAID EXPENSES 362,117 362,117 352,493 295,634
8 OTHER 9,645,433 9,645,433 9,739,833 9,480,673
--------------------------------------------------------------
9 TOTAL CURRENT ASSETS 11,871,224 12,144,391 12,109,905 11,507,567
--------------------------------------------------------------
10 PROPERTY, PLANT & EQUIPMENT 10,084,459 10,084,459 10,089,949 10,089,949
11 LESS:ACCUMLATED DEPRECIATION (8,463,070) (8,463,070) (8,544,712) (8,624,309)
--------------------------------------------------------------
12 NET PROPERTY , PLANT & EQUIPMENT 1,621,389 1,621,389 1,545,237 1,465,640
13 DUE FROM INSIDERS
14 OTHER ASSETS-NET OF AMORTIZATION 2,520,898 2,520,898 2,482,436 2,480,593
15 OTHER 182,666 182,666 164,705 143,695
--------------------------------------------------------------
16 TOTAL ASSETS $ 16,196,176 $ 16,469,344 $ 16,302,283 $ 15,597,495
==============================================================
==============================================================
LIABILITIES & STOCKHOLDERS' EQUITY
==============================================================
POSTPETITION LIABILITIES
17 ACCOUNTS PAYABLE $ - $ 96,665 $ 305,570 $ 217,437
18 TAXES PAYABLE - - - -
19 NOTES PAYABLE - - - -
20 PROFESSIONAL FEES - - - -
21 SECURED DEBT - - - -
22 OTHER - - - -
--------------------------------------------------------------
23 TOTAL POST PETITION LIABILTIES - 96,665 305,570 217,437
--------------------------------------------------------------
PREPETITION LIABILITIES
24 SECURED DEBT 133,261 133,261 103,062 102,151
TAXES PAYABLE 305,905 301,610 301,610 239,135
25 PRIORITY DEBT - - - -
26 UNSECURED DEBT 3,470,818 3,470,818 3,470,818 3,470,818
DEFERRED MAINTENANCE REVENUES 3,440,007 3,440,007 3,003,853 2,701,332
27 OTHER 945,206 946,344 802,722 610,287
28 TOTAL PREPETITION LIABILTIES 8,295,197 8,292,040 7,682,065 7,123,723
--------------------------------------------------------------
29 TOTAL LIABILITIES 8,295,197 8,388,705 7,987,635 7,341,160
--------------------------------------------------------------
EQUITY
30 PREPETITION OWNER'S EQUITY 7,900,980 7,900,980 7,900,980 7,900,980
31 POSTPETITION CUMULATIVE PROFIT(LOSS) - 179,659 413,668 616,070
FOREIGN EXCHANGE RATE TRANSLATION ADJUSTMENT (260,715)
32 DIRECT CHARGES TO EQUITY - - - -
--------------------------------------------------------------
33 TOTAL EQUITY 7,900,980 8,080,639 8,314,648 8,256,335
--------------------------------------------------------------
34 TOTAL LIABILITIES & OWNERS EQUITY $ 16,196,177 $ 16,469,344 $ 16,302,283 $ 15,597,495
==============================================================
</TABLE>
<PAGE>
NAME : INFORMATION MANAGEMENT ASSOCIATES, INC.
CASE NUMBER :00-33268
SCHEDULES FOR COMPARATIVE BALANCE SHEET
<TABLE>
<CAPTION>
Schedule
Amount Month Month Month
July 24, 2000 July 31, 2000 August 31, 2000 September 30, 2000
------------- -------------- --------------- ------------------
#8 OTHER ASSETS
------------
<S> <C> <C> <C> <C>
DUE FROM SUBSIDIARY-FRANCE $ (340,671) $ (340,671) $ (340,671) $ (297,224)
DUE FROM SUBSIDIARY-AUSTRALIA 374,203 374,203 374,203 366,274
DUE FROM SUBSIDIARY-UNITED KINGDOM 9,249,494 9,249,494 9,343,897 9,099,024
DUE FROM SUBSIDIARY-GERMANY 362,407 362,407 362,405 312,599
---------------------------------------------------------------------
$ 9,645,433 $ 9,645,433 $ 9,739,833 $ 9,480,673
=====================================================================
#14 OTHER ASSETS-NET OF AMORTIZATION
--------------------------------
GOODWILL $ 168,322 $ 168,322 $ 165,676 $ 163,030
PURCHASED RESEARCH & DEVELOPMENT 308,937 308,937 270,321 231,703
DEPOSITS 81,576 81,576 84,376 123,797
INVESTMENT IN IMA, UK LTD. 233,000 233,000 233,000 233,000
INVESTMENT IN MITSUCON TECNOLOGIA SA 1,729,063 1,729,063 1,729,063 1,729,063
---------------------------------------------------------------------
$ 2,520,898 $ 2,520,898 $ 2,482,436 $ 2,480,593
=====================================================================
#15 OTHER-ASSETS
-----------
NOTE RECEIVABLE-MITSUCON TECHNOLOGIA SA $ 182,666 $ 182,666 $ 164,705 $ 143,695
=====================================================================
PREPETITION TAXES PAYABLE
-------------------------
GENERAL INCOME TAX RESERVE $ 167,188 $ 167,188 $ 167,188 $ 104,713
GENERAL SALES TAX RESERVE 146,165 146,165 146,165 146,165
STATE SALES TAXES PAYABLE (7,448) (11,743) (11,743) (11,743)
---------------------------------------------------------------------
$ 305,905 $ 301,610 $ 301,610 $ 239,135
=====================================================================
#27 OTHER LIABILITIES
-----------------
ACCRUED COMPENSATION $ 383,853 $ 383,853 $ 291,378 $ 308,937
ACCRUED EXPENSES 172,748 173,886 99,652 (98,970)
ACCRUED RENT 251,590 251,590 274,677 263,319
ACCRUED INTEREST 137,015 137,015 137,015 137,000
---------------------------------------------------------------------
$ 945,206 $ 946,344 $ 802,722 $ 610,286
=====================================================================
</TABLE>
<PAGE>
NAME : INFORMATION MANAGEMENT ASSOCIATES, INC.
CASE NUMBER :00-33268
<TABLE>
<CAPTION>
INCOME STATEMENT 7 Days Ending Month Month
July 31, 2000 August 31, 2000 September 30, 2000
------------- --------------- ------------------
<S> <C> <C> <C>
1 GROSS REVENUES $ 265,729 $ 1,036,119 $ 964,481
ROYALTY REVENUE FROM FOREIGN SUBSIDIARIES 84,754 -
2 LESS:RETURNS AND ALLOWANCES - - -
---------------------------------------------------------------
3 NET REVENUE 265,729 1,120,873 964,481
---------------------------------------------------------------
COST OF GOODS SOLD:
4 MATERIAL - - -
5 DIRECTLABOR - - -
6 DIRECT OVERHEAD- 3RD PARTY COSTS 4,760 31,206 6,080
---------------------------------------------------------------
7 TOTAL COST OF GOODS SOLD 4,760 31,206 6,080
---------------------------------------------------------------
8 GROSS PROFIT 260,969 1,089,667 958,401
---------------------------------------------------------------
OPERATING EXPENSES:
9 OFFICER/INSIDER COMPENSATION - 152,369 139,051
10 SELLING AND MARKETING 44,058 97,509 124,267
11 GENERAL AND ADMINISTRATIVE 37,251 464,985 360,185
12 RENT AND LEASE - 19,096 17,158
13 OTHER - - -
---------------------------------------------------------------
14 TOTAL OPERATING EXPENSE 81,309 733,959 640,661
---------------------------------------------------------------
15 INCOME BEFORE NON-OPERATING INCOME AND EXPENSE 179,660 355,708 317,740
---------------------------------------------------------------
OTHER INCOME INCOME AND EXPENSE:
16 NON OPERATING INCOME - INTEREST - (3,622) (8,393)
17 NON OPERATING EXPENSE - - -
18 INTEREST EXPENSE - 2,417 2,873
19 DEPRECIATION EXPENSE - 67,341 65,673
20 AMORTIZATION - 55,564 55,186
21 OTHER - - -
---------------------------------------------------------------
22 NET OTHER INCOME AND EXPENSE 179,660 121,699 115,339
REORGANIZATION EXPENSE:
23 PROFESSIONAL FEES - - -
24 US TRUSTEE FEES - - -
25 OTHER - - -
---------------------------------------------------------------
26 TOTAL REORGANIZATION EXPENSE - - -
---------------------------------------------------------------
27 INCOME TAX - - -
---------------------------------------------------------------
28 NET PROFIT $ 179,660 $ 234,009 $ 202,401
===============================================================
</TABLE>
<PAGE>
NAME : INFORMATION MANAGEMENT ASSOCIATES, INC.
CASE NUMBER :00-33268
<TABLE>
<CAPTION>
CASH RECEIPTS AND DISBURSEMENTS 7 Days Ending Month Month
July 31, 2000 August 31, 2000 September 30, 2000
------------- --------------- ------------------
<S> <C> <C> <C>
1 CASH-BEGINNING OF MONTH $ 1,159,911 $ 1,374,372 $ 1,026,221
------------------------------------------------------
RECEIPTS FROM OPERATIONS
2 CASH SALES - - -
COLLECTION OF ACCOUNTS RECEIVABLE
3 PREPETITION 207,021 503,785 371,815
4 POST PETITION - - 510,680
------------------------------------------------------
5 TOTAL OPERATING RECEIPTS 207,021 503,785 882,495
------------------------------------------------------
NON-OPERATING RECEIPTS
6 LOANS AND ADVANCES -
7 SALE OF ASSETS -
8 OTHER 19,679 14,411 10,294
------------------------------------------------------
9 TOTAL NON OPERATING RECEIPTS 19,679 14,411 10,294
------------------------------------------------------
10 TOTAL RECEIPTS 226,700 518,196 892,788
------------------------------------------------------
11 TOTAL CASH AVAILABLE 1,386,611 1,892,568 1,919,010
------------------------------------------------------
OPERATING DISBURSEMENTS
12 NET PAYROLL 5,097 371,302 384,177
13 PAYROLL TAXES PAID - 190,576 184,487
14 SALES, USE & OTHER TAXES PAID - 4,345 31,215
15 SECURED/RENTAL/LEASES - 33,542 70,908
16 UTILITIES - 14,741 56,953
17 INSURANCE 5,064 85,719 44,300
18 INVENTORY PURCHASES - - -
19 VEHICLE EXPENSES - - -
20 TRAVEL - 127,416 159,758
21 ENTERTAINMENT - - -
22 REPAIRS AND MAINTENANCE - 653 16
23 SUPPLIES - 209 1,313
24 ADVERTISING - 4,117 778
25 OTHER 2,078 33,727 107,895
------------------------------------------------------
26 TOTAL OPERATING DISBURSEMENTS 12,239 866,347 1,041,802
------------------------------------------------------
TOTAL REORGANIZATION EXPENSE
27 PROFESSIONAL FEES - - -
28 US TRUSTEE FEES - - -
29 OTHER - - -
------------------------------------------------------
30 TOTAL REORGANIZATION EXPENSE - - -
------------------------------------------------------
31 TOTAL DISBURSEMENTS 12,239 866,347 1,041,802
------------------------------------------------------
32 NET CASH FLOW 214,461 (348,151) (149,013)
------------------------------------------------------
33 CASH - END OF MONTH $ 1,374,372 $ 1,026,221 $ 877,208
======================================================
</TABLE>
<PAGE>
NAME : INFORMATION MANAGEMENT ASSOCIATES, INC.
CASE NUMBER :00-33268
<TABLE>
<CAPTION>
ACCOUNTS RECEIVABLE AGING: Month Month Month
July 31, 2000 August 31, 2000 September 30, 2000
-------------------------------------------------------
<S> <C> <C> <C> <C>
1 0-30 DAYS $ 57,125 $ 301,413 $ 659,095
2 31-60 DAYS 701,632 547,641 322,308
3 61-90 DAYS 73,534 345,678 280,147
4 91+ DAYS 4,898,403 3,764,610 2,304,559
-------------------------------------------------------
5 TOTAL ACCOUNTS RECEIVABLE 5,730,694 4,959,342 3,566,109
OTHER ACCOUNTS RECEIVABLE 1,417,897 1,747,343 853,696
6 AMOUNT CONSIDERED UNCOLLECTABLE (6,430,768) (5,759,974) (3,610,400)
-------------------------------------------------------
7 ACCOUNTS RECEIVABLE(NET) $ 717,824 $ 946,711 $ 809,405
======================================================
</TABLE>
<TABLE>
<CAPTION>
AGING OF POST PETITION TAXES AND PAYABLES:
TAXES PAYABLE: 0-30 DAYS 31-60 DAYS 61-90 DAYS 91+ DAYS TOTAL
--------- ---------- ---------- -------- -----
<S> <C> <C> <C> <C> <C>
1 FEDERAL $ - $ - $ - $ - $ -
2 STATE - - - - -
3 LOCAL - - - - -
4 OTHER - - - - -
-----------------------------------------------------------------------------
5 TOTAL TAXES PAYABLE $ - $ - $ - $ - $ -
=============================================================================
6 ACCOUNTS PAYABLE: $ 215,283 $ (134) $ 2,287 $ - $ 217,436
=============================================================================
</TABLE>
<TABLE>
<CAPTION>
STATUS OF POSTPETITION TAXES:
BEGIN TAX AMOUNT W/H OR
FEDERAL LIABILITY ACCRUED AMOUNT PAID ENDING TAX LIABILITY
------- ---------------------------------------------------------------------
<S> <C> <C> <C> <C>
1 WITHHOLDING $ - $ 94,660 $ 94,660 $ -
2 FICA EMPLOYEE - $ 26,241 $ 26,241 -
3 FICA EMPLOYER - $ 26,241 $ 26,241 -
4 UNEMPLOYMENT - $ 49 $ 49 -
5 INCOME - $ - $ - -
6 OTHER - $ - $ - -
---------------------------------------------------------------------
7 TOTAL FEDERAL TAXES - $ 147,191 $ 147,191 -
---------------------------------------------------------------------
STATE AND LOCAL
--------------
8 WITHHOLDING - 22,000 22,000 -
9 SALES 4,295 - 633 3,662
10 EXCISE - - - -
11 UNEMPLOYMENT - 14,881 14,881 -
12 REAL PROPERTY - - - -
13 PERSONAL PROPERTY 46,170 - 30,583 15,587
14 OTHER - 414 414 -
---------------------------------------------------------------------
15 TOTAL STATE AND LOCAL 50,465 37,295 68,511 19,249
---------------------------------------------------------------------
16 TOTAL TAXES $ 50,465 $ 184,486 $ 215,702 $ 19,249
=====================================================================
</TABLE>
<PAGE>
NAME : INFORMATION MANAGEMENT ASSOCIATES, INC.
CASE NUMBER :00-33268
<TABLE>
<CAPTION>
BANK RECONCILIATIONS: MONTH: September-00
ACCOUNT #1 ACCOUNT #2 ACCOUNT #3 ACCOUNT #4
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C>
A BANK PEOPLES BANK PEOPLES BANK PEOPLES BANK PEOPLES BANK
B ACCOUNT NUMBER: 048-7035708 064-7002287 048-7040507 064-7002279
IMA DIP
IMA CUSTODIAL IMA OPERATING OPERATING IMA PAYROLL
C PURPOSE(TYPE) ACCOUNT ACCOUNT # 1 ACCOUNT # 2 ACCOUNT # 1
---------------------------------------------------------------------------------------------------------------------
1 BALANCE PER BANK STATEMENT $ - $ 59,813 $ 530,289 $ -
2 ADD:TOTAL DEPOSITS NOT CREDITED - - - -
3 SUBTRACT:OUTSTANDING CHECKS - (4,632) (116,158) (15,787)
4 OTHER RECONCILING ITEMS - - - 2,249
---------------------------------------------------------------------------
5 MONTH END BALANCE PER BOOKS $ - $ 55,181 $ 414,131 $ (13,538)
DIFFERENCE ===========================================================================
- - -
6 NUMBER OF LAST WRITTEN CHECK 032661 033119 35702
</TABLE>
<TABLE>
<CAPTION>
BANK RECONCILIATIONS: MONTH: September-00 (continued)
ACCOUNT #5 ACCOUNT #6 ACCOUNT #7
---------- ---------- ----------
<S> <C> <C> <C> <C>
A BANK PEOPLES BANK PEOPLES BANK ALEX BROWN
B ACCOUNT NUMBER: 048-7040515 048-7040523 24836526 *
IMA DIP PAYROLL IMA DIP TAX IMA RESTRICTED
C PURPOSE(TYPE) ACCOUNT # 2 ACCOUNT ACCOUNT
---------------------------------------------------------------------------------------------------
1 BALANCE PER BANK STATEMENT $ - $ 5,620 $ 420,830
2 ADD:TOTAL DEPOSITS NOT CREDITED - - -
3 SUBTRACT:OUTSTANDING CHECKS (6,025) - -
4 OTHER RECONCILING ITEMS 1,009 - -
---------------------------------------------------------
5 MONTH END BALANCE PER BOOKS $ (5,016) $ 5,620 $ 420,830
DIFFERENCE =========================================================
- - -
6 NUMBER OF LAST WRITTEN CHECK 035733 1005 N/A
</TABLE>
<TABLE>
<CAPTION>
INVESTMENT ACCOUNTS:
DATE OF TYPE OF PURCHASE CURRENT
BANK ACCOUNT NAME & NUMBER PURCHASE INVESTMENT PRICE VALUE
--------------------------------------------------------------
<S> <C> <C> <C>
7 None $ - $ -
8 None - -
9 None - -
10 None - -
--------------------------------------------------------------
11 TOTAL INVESTMENT $ - $ -
==============================================================
</TABLE>
CASH:
12 CURRENCY ON HAND None
13 TOTAL CASH - END OF MONTH $ 877,208
=========
<PAGE>
NAME : INFORMATION MANAGEMENT ASSOCIATES, INC.
CASE NUMBER :00-33268
<TABLE>
<CAPTION>
PAYMENTS TO INSIDERS AND PROFESSIONALS: MONTH September-00
INSIDERS
----------------------------------------------------------------------------------------------------------------------------
COMPENSATION
----------------------------------------------------------
NAME TRAVEL ADVISORY
TYPE OF PAYMENT REIMBURSEMENTS PAYROLL COMMISSIONS FEES EXECUTORY
--------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1 PAUL SCHMIDT $ - $ - $ 500
2 TOM HILL - - 500
3 DAVID CALLARD - - 500
4 DON MILLER - - 1,000
5 PAUL FREDERICK 707 15,417 12,500
6 MIKE MCGROARTY 527 13,334 25,000
7 SHELDON PAUL 266 12,500
8 KEN BOIN 151 10,417
9 ROGER BEARD 758 10,833
10 ROB CHASE 7,451 13,000
11 MARIO FERRAIRO - 2,884
12 JIM ANDERSON 31 12,062 8,605
--------------------------------------------------------------------------
13 TOTAL PAYMENT TO INSIDERS $ 9,891 $ 90,446 $ 8,605 $ 2,500 $ 37,500
==========================================================================
</TABLE>
PAYMENTS TO INSIDERS AND PROFESSIONALS: MONTH September-00
INSIDERS (CONTINUED)
-------------------------------------------------------------------------
NAME
TOTAL PAID TOTAL PAID
THIS MONTH TO DATE
---------------------------
1 PAUL SCHMIDT $ 500 $ 500
2 TOM HILL 500 $ 500
3 DAVID CALLARD 500 $ 500
4 DON MILLER 1,000 $ 1,000
5 PAUL FREDERICK 28,624 $ 62,387
6 MIKE MCGROARTY 38,861 $ 67,768
7 SHELDON PAUL 12,766 $ 26,485
8 KEN BOIN 10,568 $ 24,414
9 ROGER BEARD 11,591 $ 26,324
10 ROB CHASE 20,451 $ 36,951
11 MARIO FERRAIRO 2,884 $ 2,884
12 JIM ANDERSON 20,698 $ 65,166
---------------------------
13 TOTAL PAYMENT TO INSIDERS $ 148,942 $ 314,878
===========================
<TABLE>
<CAPTION>
PROFESSIONALS
----------------------------------------------------------------------------------------------------------------------------
TOTAL
NAME DATE OF COURT AMOUNT TOTAL PAID TO INCURRED &
AUTHORIZING PAYMENT APPROVED AMOUNT PAID DATE UNPAID
<S> <C> <C> <C> <C> <C>
1 NONE - - -
2 - - -
3 - - -
4 - - -
5 - - -
--------------------------------------------
6 TOTAL PAYMENT TO PROFESSIONALS $ - $ - $ -
============================================
</TABLE>
<TABLE>
<CAPTION>
STATUS OF SECURED NOTES,LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
----------------------------------------------------------------------------------------------------------------------------
SCHEDULED AMOUNTS PAID
NAME OF CREDITOR MONTHLY PAYMENT DURING THE TOTAL UNPAID DATE PAID
DUE MONTH POSTPETITION
<S> <C> <C> <C>
1 IRVINE INDUSTRIAL COMPANY(ASSIGNED TO T-TECH $ - $ - $ -
LABS, INC.)
2 CROWN POINTE LLC 11,819 12,795 -
3 EOP OPERATING L.P.(ASSIGNED TO SABA SYSTEMS) - -
4 FINOVA LOAN ADMINISTRATION 1,295 2,652 -
5 BSB LEASING (FORMERLY AMERILEASE) 4,037 4,037 -
6 INTEL FINANCIAL SERVICES 4,619 4,727 -
7 IOS CAPITAL 4,595 12,581 -
9 LUCENT TECHNOLOGIES 19,865 20,576 -
10 VIDEO & SOUND SERVICES(ASSIGNED TO SABA SYSTEMS) - -
11 IBM CORPORATION 1,574 1,574 -
12 T-TECH HOLDING CO. 11,967 11,967 -
--------------------------------------------------------------
TOTAL $ 70,908 $ -
==============================================================
</TABLE>
<PAGE>
<TABLE>
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
CASE NAME: INFORMATION MANAGEMENT ASSOCIATES, INC. CASE NUMBER: 00-33268 ACCRUAL BASIS
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------
QUESTIONNAIRE
-----------------------------------------------------------------------------------------------------------------------------------
YES NO
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
1. HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? X
-----------------------------------------------------------------------------------------------------------------------------------
2. HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSESSION ACCOUNT? X
-----------------------------------------------------------------------------------------------------------------------------------
3. ARE ANY POSTPETITION RECEIVABLES (ACCOUNT, NOTES, OR LOANS) DUE FROM RELATED PARTIES? X
-----------------------------------------------------------------------------------------------------------------------------------
4. HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? X
-----------------------------------------------------------------------------------------------------------------------------------
5. HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? X
-----------------------------------------------------------------------------------------------------------------------------------
6. ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? X
-----------------------------------------------------------------------------------------------------------------------------------
7. ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? X
-----------------------------------------------------------------------------------------------------------------------------------
8. ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? X
-----------------------------------------------------------------------------------------------------------------------------------
9. ARE ANY OTHER POSTPETITION TAXES PAST DUE? X
-----------------------------------------------------------------------------------------------------------------------------------
10. ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? X
-----------------------------------------------------------------------------------------------------------------------------------
11. HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? X
-----------------------------------------------------------------------------------------------------------------------------------
12. ARE ANY WAGE PAYMENTS PAST DUE? X
-----------------------------------------------------------------------------------------------------------------------------------
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES" PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF
NECESSARY.
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------
INSURANCE
-----------------------------------------------------------------------------------------------------------------------------------
YES NO
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
1. ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? X
-----------------------------------------------------------------------------------------------------------------------------------
2. ARE ALL PREMIUM PAYMENTS PAID IN EFFECT? X
-----------------------------------------------------------------------------------------------------------------------------------
3. PLEASE ITEMIZE BELOW.
-----------------------------------------------------------------------------------------------------------------------------------
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO" OR IF ANY POLICIES HAVE BEEN CANCELED OR NOT RENEWED DURING THIS REPORTING
PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
INSTALLMENT PAYMENTS
-----------------------------------------------------------------------------------------------------------------------------------
PAYMENT AMOUNT
TYPE OF POLICY CARRIER PERIOD COVERED & FREQUENCY
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
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