SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8 - K
CURRENT REPORT
Pursuant to Section 13 of 15 (d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
June 1, 1998 (March 1, 1998)
CONSOLIDATED STAINLESS, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State of Incorporation)
00-22690 59-1669166
(Commission File Number) (I.R.S. Employer Identification Number)
1601 East Amelia Street Orlando, Florida 32803
(Address of principal executive offices)
(407) 896-4000
(Registrant's telephone number)
<PAGE>
Item 5. Other Events
As previously reported, on December 15, 1997, Consolidated Stainless, Inc.
(the "Company") filed for relief under Chapter 11 of the United States
Bankruptcy Code (11 U.S.C. Sections 101-1330) in the United States Bankruptcy
Court for the District of Delaware, Case No. 97-2593 (the "Bankruptcy Filing").
In connection with the Bankruptcy Filing, the Company is required to file
monthly operating reports with the United States Bankruptcy Court (the "Monthly
Reports"). The Company is filing herewith the Monthly Reports (i) for the month
ending March 31, 1998 and (ii) for the month ending April 30, 1998, as Exhibits
99.1 and 99.2, respectively.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Financial Statements of Businesses Acquired.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Exhibits.
99.1 Monthly Operating Report of Consolidated Stainless, Inc. for
the month ended March 31, 1998. (1)
99.2 Monthly Operating Report of Consolidated Stainless, Inc. for
the month ended April 30, 1998. (1)
- --------------------------------------------------------------------------------
(1) The Company agrees to furnish supplementally a copy of any omitted schedule
or similar attachment to the commission upon its request.
2
<PAGE>
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 hereunto duly authorized.
CONSOLIDATED STAINLESS, INC.
(Registrant)
Dated: June 1, 1998 By: /s/ Ronald J. Adams
------------------------
Ronald J. Adams,
President
3
<PAGE>
EXHIBIT INDEX
Exhibit Number Description
- -------------- -----------
99.1 Monthly Operating Report of
Consolidated Stainless, Inc. for
the month ended March 31, 1998.
99.2 Monthly Operating Report of
Consolidated Stainless, Inc. for
the month ended April 30, 1998.
4
CONSOLIDATED STAINLESS, INC. Exhibit 99.1
Case No.: 97-02593JJF ACCRUAL BASIS-1
OFFICE OF THE UNITED STATES TRUSTEE - REGION 3
MONTHLY OPERATING REPORT
for the month ending March 31, 1998
================================================================================
Document Previously Explanation
Required Attachments: Attached Submitted Attached
1. Tax Receipts ( X ) ( ) ( )
2. Bank Statements ( X ) ( ) ( )
3. Most recently filed ( ) ( X ) ( )
Income Tax Return
4. Most recent Annual Financial ( ) ( X ) ( )
Statements prepared by accountant
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-9) AND THE ACCOMPANYING
ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT
AND COMPLETE. DECLARATION OF PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON
ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
/s/ Ronald J. Adams President/Chief Operating Officer
- ----------------------------------- -----------------------------------
SIGNATURE OF RESPONSIBLE PARTY TITLE
Ronald J. Adams April 17, 1998
- ----------------------------------- -----------------------------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
/s/ Daniel A. Rashy Controller
- ----------------------------------- -----------------------------------
SIGNATURE OF PREPARER TITLE
Daniel A. Rashy April 17, 1998
- ----------------------------------- -----------------------------------
PRINTED NAME OF PREPARER DATE
All Chapter 11 debtors must file this report with the Court and serve a copy on
the United States Trustee no later than the 15th day of the month following the
end of the month covered by the report.
<PAGE>
CONSOLIDATED STAINLESS, INC. COMPARATIVE BALANCE SHEETS ACCRUAL BASIS-2
Case No.: 97-02593JJF 1ST QUARTER
-------------
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------
ASSETS MONTH MONTH MONTH
--------------------------------------
SCHEDULE JAN 1998 FEB 1998 MAR 1998
- ----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH 201,223 67,085 35,535
- ----------------------------------------------------------------------------------------
2. ACCOUNTS RECEIVABLE (NET) 4,996,602 5,191,159 4,156,666
- ----------------------------------------------------------------------------------------
3. INVENTORY [1] 16,446,051 15,389,246 14,734,878
- ----------------------------------------------------------------------------------------
4. NOTES RECEIVABLE 256,630 258,739 261,075
- ----------------------------------------------------------------------------------------
5. PREPAID EXPENSES [2] 205,387 267,134 209,394
- ----------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) 2(a) 568,397 539,792 515,023
- ----------------------------------------------------------------------------------------
7. TOTAL CURRENT ASSETS 22,674,290 21,713,155 19,912,571
- ----------------------------------------------------------------------------------------
8. PROPERTY, PLANT & EQUIPMENT 20,197,174 20,186,965 20,103,178
- ----------------------------------------------------------------------------------------
9. LESS: ACCUMULATED
DEPRECIATION / DEPLETION 5,188,159 5,312,252 5,401,385
- ----------------------------------------------------------------------------------------
10. NET PROPERTY, PLANT & EQUIPMENT 15,009,015 14,874,713 14,701,793
- ----------------------------------------------------------------------------------------
11. DUE FROM AFFILIATES & INSIDERS 48,547 48,705 48,864
- ----------------------------------------------------------------------------------------
12. INTANGIBLES (ATTACH LIST) -- -- --
- ----------------------------------------------------------------------------------------
13. OTHER (ATTACH LIST) 2(b) 240,531 264,733 277,135
- ----------------------------------------------------------------------------------------
14. TOTAL ASSETS 37,972,383 36,901,306 34,940,363
- ----------------------------------------------------------------------------------------
POSTPETITION LIABILITIES
- ----------------------------------------------------------------------------------------
15. ACCOUNTS PAYABLE 76,388 182,287 180,471
- ----------------------------------------------------------------------------------------
16. TAXES PAYABLE 56,028 83,207 113,257
- ----------------------------------------------------------------------------------------
17. NOTES PAYABLE -- -- --
- ----------------------------------------------------------------------------------------
18. PROFESSIONAL FEES 274,194 326,736 427,991
- ----------------------------------------------------------------------------------------
19. SECURED DEBT 2,253,181 3,713,045 5,345,442
- ----------------------------------------------------------------------------------------
20. DUE TO AFFILIATES & INSIDERS -- -- --
- ----------------------------------------------------------------------------------------
21. OTHER (ATTACH LIST) 2(c) 537,782 610,118 770,945
- ----------------------------------------------------------------------------------------
22. TOTAL POSTPETITION LIABILITIES 3,197,573 4,915,393 6,838,106
- ----------------------------------------------------------------------------------------
PREPETITION LIABILITIES
- ----------------------------------------------------------------------------------------
23. SECURED DEBT 22,172,905 20,201,627 17,216,181
- ----------------------------------------------------------------------------------------
24. PRIORITY DEBT 674,158 673,134 673,134
- ----------------------------------------------------------------------------------------
25. UNSECURED DEBT 10,384,663 10,291,292 10,227,275
- ----------------------------------------------------------------------------------------
26. OTHER (ATTACH LIST) 2(d) 565,537 551,067 551,067
- ----------------------------------------------------------------------------------------
27. TOTAL PREPETITION LIABILITIES 33,797,263 31,717,120 28,667,657
- ----------------------------------------------------------------------------------------
28. TOTAL LIABILITIES 36,994,836 36,632,513 35,505,763
- ----------------------------------------------------------------------------------------
EQUITY
- ----------------------------------------------------------------------------------------
29. OWNERS' PREPETITION EQUITY 2,153,841 2,153,841 2,153,841
- ----------------------------------------------------------------------------------------
30. POSTPETITION CUMULATIVE
PROFIT OR (LOSS) (1,176,294) (1,885,048) (2,719,241)
- ----------------------------------------------------------------------------------------
31. TOTAL EQUITY (DEFICIT) 977,547 268,793 (565,400)
- ----------------------------------------------------------------------------------------
32. TOTAL LIABILITIES & OWNERS' EQUITY 37,972,383 36,901,306 34,940,363
- ----------------------------------------------------------------------------------------
</TABLE>
[1] February 1998 inventory has been corrected due to a $43,626 understatement
in the prior month's report. This understatement was discovered as a result of a
physical inventory taken at the end of March 1998.
[2] Of this amount $122,288, $215,966 and $154,094 represents prepaid inventory
for January, February and March 1998, respectively.
<PAGE>
CONSOLIDATED STAINLESS, INC. OTHER CURRENT ASSETS ACCRUAL BASIS-2(a)
Case No.: 97-02593JJF 1ST QUARTER
-------------
- --------------------------------------------------------------------------------
MONTH MONTH MONTH
-----------------------------------------------
JAN 1998 FEB 1998 MAR 1998
- --------------------------------------------------------------------------------
OTHER RECEIVABLES 122,855 125,917 116,981
- --------------------------------------------------------------------------------
DEFERRED FINANCING COSTS (NET) 47,500 15,833 --
- --------------------------------------------------------------------------------
DEFERRED INCOME TAXES 398,042 398,042 398,042
- --------------------------------------------------------------------------------
TOTAL OTHER CURRENT ASSETS 568,397 539,792 515,023
- --------------------------------------------------------------------------------
<PAGE>
CONSOLIDATED STAINLESS, INC. OTHER ASSETS ACCRUAL BASIS-2(b)
Case No.: 97-02593JJF 1ST QUARTER
-------------
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
------------------------------------------------
JAN 1998 FEB 1998 MAR 1998
- -------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SECURITY & MISCELLANEOUS DEPOSITS 63,793 63,793 80,593
- -------------------------------------------------------------------------------------------------------------
RETAINER - SAUL, EWING, REMICK, & SAUL, LLP 91,738 91,738 87,340
- -------------------------------------------------------------------------------------------------------------
RETAINER - GREENBERG, TRAURIG, HOFFMAN
LIPOFF, ROSEN & QUENTEL, PA 50,000 49,202 49,202
- -------------------------------------------------------------------------------------------------------------
RETAINER - BDO SEIDMAN, LLP 25,000 25,000 25,000
- -------------------------------------------------------------------------------------------------------------
RETAINER - GLICKSTEIN, LAVAL, CARRIS,
LEVITT, LOOMIS & DANTUMA, PA 10,000 10,000 10,000
- -------------------------------------------------------------------------------------------------------------
RETAINER - SLUSSER ASSOCIATES -- 12,500 12,500
- -------------------------------------------------------------------------------------------------------------
RETAINER - GENESIS MERCHANT GROUP
SECURITIES, LLC -- 12,500 12,500
- -------------------------------------------------------------------------------------------------------------
TOTAL OTHER ASSETS 240,531 264,733 277,135
- -------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
CONSOLIDATED STAINLESS, INC. OTHER POSTPETITION LIABILITIES ACCRUAL BASIS-2(c)
Case No.: 97-02593JJF 1ST QUARTER
-------------
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
-----------------------------------------------
JAN 1998 FEB 1998 MAR 1998
<S> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------
BOOK OVERDRAFT 129,626 113,637 159,664
- ------------------------------------------------------------------------------------------------------------
ACCRUED PAYROLL AND RELATED TAXES 108,050 100,071 132,774
- ------------------------------------------------------------------------------------------------------------
ACCRUED INTEREST PAYABLE * 220,834 377,567 460,778
- ------------------------------------------------------------------------------------------------------------
ACCRUED EXPENSES - OTHER 48,929 18,843 17,729
- ------------------------------------------------------------------------------------------------------------
ACCRUED PROPERTY TAXES 28,891 - -
- ------------------------------------------------------------------------------------------------------------
ACCRUED OTHER TAXES PAYABLE 1,452 - -
- ------------------------------------------------------------------------------------------------------------
TOTAL OTHER POSTPETITION LIABILITIES 537,782 610,118 770,945
- ------------------------------------------------------------------------------------------------------------
</TABLE>
*Interest has been accrued for accounting purposes only.
<PAGE>
CONSOLIDATED STAINLESS, INC. OTHER POSTPETITION LIABILITIES ACCRUAL BASIS-2(d)
Case No.: 97-02593JJF 1ST QUARTER
-------------
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
-----------------------------------------------
JAN 1998 FEB 1998 MAR 1998
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
PROPERTY TAX ACCRUAL 32,125 17,655 17,655
- ------------------------------------------------------------------------------------------------------------
OTHER TAXES PAYABLE 14,561 14,561 14,561
- ------------------------------------------------------------------------------------------------------------
ACCRUED EXPENSES - OTHER 40,967 40,967 40,967
- ------------------------------------------------------------------------------------------------------------
DEFERRED CREDIT 35,730 35,730 35,730
- ------------------------------------------------------------------------------------------------------------
RESERVE FOR LITIGATION 30,500 30,500 30,500
- ------------------------------------------------------------------------------------------------------------
MISCELLANEOUS PAYABLES 13,612 13,612 13,612
- ------------------------------------------------------------------------------------------------------------
DEFERRED INCOME TAXES 398,042 398,042 398,042
- ------------------------------------------------------------------------------------------------------------
TOTAL OTHER PREPETITION LIABILITIES 565,537 551,067 551,067
- ------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
CONSOLIDATED STAINLESS, INC. COMPARATIVE INCOME STATEMENTS ACCRUAL BASIS-3
Case No.: 97-02593JJF 1ST QUARTER
-------------
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------------
REVENUES MONTH MONTH MONTH
--------------------------------------------------------
COMMENTS JAN 1998 FEB 1998 MAR 1998
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. GROSS REVENUES 2,349,738 2,115,509 1,995,392
- --------------------------------------------------------------------------------------------------------------------------
2. LESS: RETURNS & DISCOUNTS (119,942) (77,441) (69,800)
- --------------------------------------------------------------------------------------------------------------------------
3. NET REVENUE 2,229,796 2,038,068 1,925,592
- --------------------------------------------------------------------------------------------------------------------------
COST OF GOODS SOLD
- --------------------------------------------------------------------------------------------------------------------------
4. BEGINNING INVENTORY 17,434,164 16,446,051 15,389,246
- --------------------------------------------------------------------------------------------------------------------------
5. ADD: PURCHASES & CAPITALIZED OVERHEAD 1,053,632 940,046 1,018,150
- --------------------------------------------------------------------------------------------------------------------------
6. LESS: ENDING INVENTORY [1] 16,446,051 15,389,246 14,734,878
- --------------------------------------------------------------------------------------------------------------------------
7. COST OF GOODS SOLD 2,041,745 1,996,851 1,672,518
- --------------------------------------------------------------------------------------------------------------------------
8. GROSS PROFIT 188,051 41,217 253,074
- --------------------------------------------------------------------------------------------------------------------------
OPERATING EXPENSES
- --------------------------------------------------------------------------------------------------------------------------
9. OFFICER / INSIDER COMPENSATION 80,968 81,423 71,773
- --------------------------------------------------------------------------------------------------------------------------
10. DIRECT LABOR / SALARIES 333,841 276,561 283,422
- --------------------------------------------------------------------------------------------------------------------------
11. PAYROLL TAXES 40,939 32,848 31,396
- --------------------------------------------------------------------------------------------------------------------------
12. RENT & LEASE EXPENSE [2] 26,487 24,479 25,273
- --------------------------------------------------------------------------------------------------------------------------
13. INSURANCE 55,117 45,359 51,360
- --------------------------------------------------------------------------------------------------------------------------
14. DEPRECIATION / DEPLETION / AMORTIZATION 156,772 155,760 188,117
- --------------------------------------------------------------------------------------------------------------------------
15. GENERAL & ADMINISTRATIVE 66,949 51,565 61,521
- --------------------------------------------------------------------------------------------------------------------------
16. LESS: CAPITALIZED OVERHEAD (219,045) (226,286) (199,896)
- --------------------------------------------------------------------------------------------------------------------------
17. TOTAL OPERATING EXPENSES 542,028 441,709 512,966
- --------------------------------------------------------------------------------------------------------------------------
18. OPERATING INCOME (LOSS) (353,977) (400,492) (259,892)
- --------------------------------------------------------------------------------------------------------------------------
OTHER INCOME & EXPENSES
- --------------------------------------------------------------------------------------------------------------------------
19. INTEREST INCOME (2,804) (2,578) (2,804)
- --------------------------------------------------------------------------------------------------------------------------
20. OTHER EXPENSES (ATTACH LIST) -- -- --
- --------------------------------------------------------------------------------------------------------------------------
21. INTEREST EXPENSE 238,286 246,723 228,299
- --------------------------------------------------------------------------------------------------------------------------
22. OTHER (ATTACH LIST) [3] - (84,594) 13,726
- --------------------------------------------------------------------------------------------------------------------------
23. NET OTHER INCOME & EXPENSES 235,482 159,551 239,221
- --------------------------------------------------------------------------------------------------------------------------
REORGANIZATION EXPENSES
- --------------------------------------------------------------------------------------------------------------------------
24. PROFESSIONAL FEES 266,254 139,084 222,894
- --------------------------------------------------------------------------------------------------------------------------
25. U.S. TRUSTEE FEES 3,333 3,333 3,333
- --------------------------------------------------------------------------------------------------------------------------
26. OTHER (ATTACH LIST) [4] -- 6,294 108,728
- --------------------------------------------------------------------------------------------------------------------------
27. TOTAL REORGANIZATION EXPENSES 269,587 148,711 334,955
- --------------------------------------------------------------------------------------------------------------------------
28. INCOME TAX -- -- 125
- --------------------------------------------------------------------------------------------------------------------------
29. NET PROFIT (LOSS) (859,046) (708,754) (834,193)
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
[1] February 1998 inventory has been corrected due to a $43,626 understatement
in the prior month's report. This understatement was discovered as a result of a
physical inventory taken at the end of March 1998.
[2] Includes $9,228, $9,188 and $8,985 of rent expense from facilities leased
from insiders for January, February and March 1998, respectively.
[3] Income due to proceeds from business interruption insurance for February
1998 and reversal of unused credits re-instated in March 1998.
[4] Travel costs for January and February of $5,160 and General Administrative
costs of $1,134 shown for February 1998. Travel costs of $2,805 and
restructuring costs of $105,923 relating to the impending shutdown of
manufacturing operations.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(a)
<TABLE>
<CAPTION>
Bank: Mellon Bank, N.A.
Case No.: 97-02593JJF Account No.: 2-703-791
Account Type: Cash Collateral of Mellon Bank*
- ------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
DISBURSEMENTS ----------------------------------------------------
JAN 1998 FEB 1998 MAR 1998
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 658.17 187,558.23 76,810.53
- ------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ------------------------------------------------------------------------------------------------------------------------
2. CASH SALES -- -- --
- ------------------------------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE 3,309,658.27 1,770,590.97 2,926,655.09
- ------------------------------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) -- -- --
- ------------------------------------------------------------------------------------------------------------------------
5. SALE OF ASSETS -- -- --
- ------------------------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) 101,414.92 89,979.65 29,322.42
- ------------------------------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 3,411,073.19 1,860,570.62 2,955,977.51
- ------------------------------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 3,411,731.36 2,048,128.85 3,032,788.04
- ------------------------------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C>
Revolving Line of Credit Pay Downs 2,985,445.42
- ------------------------------------------------------------------------------------------------------------------------
3/17/98 Credit Card Merchant Fees 120.50
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 2,985,565.92
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 47,222.12
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
* Funds in this account are to be used solely to pay down the balance owed on
any outstanding indebtedness the Company may have to Mellon Bank. Funds are not
available for operating purposes.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(b)
<TABLE>
<CAPTION>
Bank: Mellon Bank, N.A.
Case No.: 97-02593JJF Account No.: 2-953-131
Account Type: Business Checking
- ------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
DISBURSEMENTS ----------------------------------------------------
JAN 1998 FEB 1998 MAR 1998
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH (83,975.50) (148,857.59) (132,868.84)
- ----------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ----------------------------------------------------------------------------------------------------------------------
2. CASH SALES - - -
- ----------------------------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE - - -
- ----------------------------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) 1,336,922.58 1,459,863.84 1,632,397.36
- ----------------------------------------------------------------------------------------------------------------------
5. SALE OF ASSETS - 19,367.74 19,336.50
- ----------------------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) 10.00 - -
- ----------------------------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 1,336,932.58 1,479,231.58 1,651,733.86
- ----------------------------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 1,252,957.08 1,330,373.99 1,518,865.02
- ----------------------------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------
Auburndale (See Attached List) 4(b)(2) 51,099.77
- ------------------------------------------------------------------------------------------------------------------------
Apopka (See Attached List) 4(b)(3) 27,552.11
- ------------------------------------------------------------------------------------------------------------------------
California (See Attached List) 4(b)(4) 7,660.25
- ------------------------------------------------------------------------------------------------------------------------
Acworth (See Attached List) 4(b)(5) 3,038.72
- ------------------------------------------------------------------------------------------------------------------------
Jacksonville (See Attached List) 4(b)(6) 79,063.02
- ------------------------------------------------------------------------------------------------------------------------
Houston (See Attached List) 4(b)(7) 13,973.51
- ------------------------------------------------------------------------------------------------------------------------
Lakeland (See Attached List) 4(b)(8) 20,701.69
- ------------------------------------------------------------------------------------------------------------------------
Chicago (See Attached List) 4(b)(9) 1,338.41
- ------------------------------------------------------------------------------------------------------------------------
Corporate (See Attached List) 4(b)(10) 302,238.10
- ------------------------------------------------------------------------------------------------------------------------
Wires & Bank Debits (See Attached List) 4(b)(11) 1,191,094.98
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 1,697,760.56
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) (178,895.54)
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(c)
<TABLE>
<CAPTION>
Bank: Merrill Lynch
Case No.: 97-02593JJF Account No.: 64A-07644
Account Type: Cash & Money Fund
- ----------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
DISBURSEMENTS --------------------------------------------------
JAN 1998 FEB 1998 MAR 1998
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 39.33 39.56 39.79
- ----------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ----------------------------------------------------------------------------------------------------------------------
2. CASH SALES -- -- --
- ----------------------------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE -- -- --
- ----------------------------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) -- -- --
- ----------------------------------------------------------------------------------------------------------------------
5. SALE OF ASSETS -- -- --
- ----------------------------------------------------------------------------------------------------------------------
6. INTEREST INCOME 0.23 0.23 0.27
- ----------------------------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 0.23 0.23 0.27
- ----------------------------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 39.56 39.79 40.06
- ----------------------------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ----------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ----------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C>
N/A
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT --
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 40.06
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(d)
<TABLE>
<CAPTION>
Bank: Great Western
Case No.: 97-02593JJF Account No.: 446-818297-7
Account Type: Business Checking
- ----------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
DISBURSEMENTS --------------------------------------------------
JAN 1998 FEB 1998 MAR 1998
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1.CASH - BEGINNING OF MONTH 15.50 237.85 148.28
- ----------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ----------------------------------------------------------------------------------------------------------------------
2.CASH SALES -- -- --
- ----------------------------------------------------------------------------------------------------------------------
3.DEPOSIT PETTY CASH CHECK 430.55 -- 441.77
- ----------------------------------------------------------------------------------------------------------------------
4.LOANS & ADVANCES (ATTACH LIST) -- -- --
- ----------------------------------------------------------------------------------------------------------------------
5.SALE OF ASSETS -- -- --
- ----------------------------------------------------------------------------------------------------------------------
6.OTHER (ATTACH LIST) -- -- --
- ----------------------------------------------------------------------------------------------------------------------
7.TOTAL RECEIPTS 430.55 -- 441.77
- ----------------------------------------------------------------------------------------------------------------------
8.TOTAL CASH AVAILABLE 446.05 237.85 590.05
- ----------------------------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ----------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ----------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C>
2005 3/6/98 Petty Cash 441.77
- ----------------------------------------------------------------------------------------------------------------------
3/31/98 Monthly Service Charge 8.20
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 449.97
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 140.08
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(e)
<TABLE>
<CAPTION>
Bank: NationsBank, N.A.
Case No.: 97-02593JJF Account No.: 010-333-0164
Account Type: Business Checking
- ----------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
DISBURSEMENTS --------------------------------------------------
JAN 1998 FEB 1998 MAR 1998
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1.CASH - BEGINNING OF MONTH 43.04 1.03 (8.97)
- ----------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ----------------------------------------------------------------------------------------------------------------------
2.CASH SALES -- -- --
- ----------------------------------------------------------------------------------------------------------------------
3.COLLECTION OF ACCOUNTS RECEIVABLE -- -- --
- ----------------------------------------------------------------------------------------------------------------------
4.LOANS & ADVANCES (ATTACH LIST) -- -- --
- ----------------------------------------------------------------------------------------------------------------------
5.SALE OF ASSETS -- -- --
- ----------------------------------------------------------------------------------------------------------------------
6.OTHER (ATTACH LIST) -- -- --
- ----------------------------------------------------------------------------------------------------------------------
7.TOTAL RECEIPTS -- -- --
- ----------------------------------------------------------------------------------------------------------------------
8.TOTAL CASH AVAILABLE 43.04 1.03 (8.97)
- ----------------------------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ----------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ----------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C>
3/31/98 Service Charge 10.00
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 10.00
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) (18.97)
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(f)
<TABLE>
<CAPTION>
Bank: Comerica Bank - Texas
Case No.: 97-02593JJF Account No.: 7881022961
Account Type: Business Checking
- ------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
DISBURSEMENTS ----------------------------------------------------
JAN 1998 FEB 1998 MAR 1998
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1.CASH - BEGINNING OF MONTH 678.19 -- --
- ------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ------------------------------------------------------------------------------------------------------------------------
2.CASH SALES -- -- --
- ------------------------------------------------------------------------------------------------------------------------
3.COLLECTION OF ACCOUNTS RECEIVABLE -- -- --
- ------------------------------------------------------------------------------------------------------------------------
4.LOANS & ADVANCES (ATTACH LIST) -- -- --
- ------------------------------------------------------------------------------------------------------------------------
5.SALE OF ASSETS -- -- --
- ------------------------------------------------------------------------------------------------------------------------
6.OTHER (ATTACH LIST) -- -- --
- ------------------------------------------------------------------------------------------------------------------------
7.TOTAL RECEIPTS -- -- --
- ------------------------------------------------------------------------------------------------------------------------
8.TOTAL CASH AVAILABLE 678.19 -- --
- ------------------------------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ------------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT --
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) --
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(g)
<TABLE>
<CAPTION>
Bank: Huntington Nat'l Bank
Case No.: 97-02593JJF Account No.: 1603427364
Account Type: Payroll
- ----------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
DISBURSEMENTS JAN 1998 FEB 1998 MAR 1998
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1.CASH - BEGINNING OF MONTH 22,278.09 23,330.02 561.25
- ----------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ----------------------------------------------------------------------------------------------------------------------
2.CASH SALES -- -- --
- ----------------------------------------------------------------------------------------------------------------------
3.COLLECTION OF ACCOUNTS RECEIVABLE -- -- --
- ----------------------------------------------------------------------------------------------------------------------
4.DEPOSITS 275,000.00 232,500.00 227,000.00
- ----------------------------------------------------------------------------------------------------------------------
5.SALE OF ASSETS -- -- --
- ----------------------------------------------------------------------------------------------------------------------
6.OTHER (ATTACH LIST) -- -- --
- ----------------------------------------------------------------------------------------------------------------------
7.TOTAL RECEIPTS 275,000.00 232,500.00 227,000.00
- ----------------------------------------------------------------------------------------------------------------------
8.TOTAL CASH AVAILABLE 297,278.09 255,830.02 227,561.25
- ----------------------------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ----------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ----------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C>
See Attached 227,466.01
- ----------------------------------------------------------------------------------------------------------------------
3/13/98 Service Charge 19.00
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 227,485.01
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 76.24
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(h)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, Cent. FL N.A.
Case No.: 97-02593JJF Account No.: 0215252138566
Account Type: Payroll
- ----------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
DISBURSEMENTS --------------------------------------------------
JAN 1998 FEB 1998 MAR 1998
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1.CASH - BEGINNING OF MONTH (543.69) (543.69) (543.69)
- ----------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ----------------------------------------------------------------------------------------------------------------------
2.CASH SALES -- -- --
- ----------------------------------------------------------------------------------------------------------------------
3.COLLECTION OF ACCOUNTS RECEIVABLE -- -- --
- ----------------------------------------------------------------------------------------------------------------------
4.LOANS & ADVANCES (ATTACH LIST) -- -- --
- ----------------------------------------------------------------------------------------------------------------------
5.SALE OF ASSETS -- -- --
- ----------------------------------------------------------------------------------------------------------------------
6.OTHER (ATTACH LIST) -- -- 557.21
- ----------------------------------------------------------------------------------------------------------------------
7.TOTAL RECEIPTS -- -- 557.21
- ----------------------------------------------------------------------------------------------------------------------
8.TOTAL CASH AVAILABLE (543.69) (543.69) 13.52
- ----------------------------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ----------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ----------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT --
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 13.52
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(i)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, N. FL N.A.
Case No.: 97-02593JJF Account No.: 0288008734682
Account Type: Business Checking
- ----------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
DISBURSEMENTS --------------------------------------------------
JAN 1998 FEB 1998 MAR 1998
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1.CASH - BEGINNING OF MONTH (28.73) 3,400.57 3,451.18
- ----------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ----------------------------------------------------------------------------------------------------------------------
2.CASH SALES -- -- --
- ----------------------------------------------------------------------------------------------------------------------
3.COLLECTION OF ACCOUNTS RECEIVABLE 3,444.30 92.06 527.20
- ----------------------------------------------------------------------------------------------------------------------
4.LOANS & ADVANCES (ATTACH LIST) -- -- --
- ----------------------------------------------------------------------------------------------------------------------
5.SALE OF ASSETS -- -- --
- ----------------------------------------------------------------------------------------------------------------------
6.OTHER (ATTACH LIST) -- -- --
- ----------------------------------------------------------------------------------------------------------------------
7.TOTAL RECEIPTS 3,444.30 92.06 527.20
- ----------------------------------------------------------------------------------------------------------------------
8.TOTAL CASH AVAILABLE 3,415.57 3,492.63 3,978.38
- ----------------------------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ----------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ----------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C>
1001 3/6/98 Mellon Bank Transfer Dep. 1,748.14
- ----------------------------------------------------------------------------------------------------------------------
1002 3/6/98 Mellon Bank Transfer Dep. 92.06
- ----------------------------------------------------------------------------------------------------------------------
1003 3/31/98 Mellon Bank Transfer Dep. 527.20
- ----------------------------------------------------------------------------------------------------------------------
3/31/98 Monthly Maintenance Fee 15.00
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 2,382.40
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 1,595.98
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(j)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, Cent. FL N.A.
Case No.: 97-02593JJF Account No.: 0710629932410
Account Type: Business Checking
- ----------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
DISBURSEMENTS --------------------------------------------------
JAN 1998 FEB 1998 FEB 1998
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1.CASH - BEGINNING OF MONTH 426.17 917.50 381.21
- ----------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ----------------------------------------------------------------------------------------------------------------------
2.CASH SALES -- -- --
- ----------------------------------------------------------------------------------------------------------------------
3.COLLECTION OF ACCOUNTS RECEIVABLE 504.28 728.49 504.01
- ----------------------------------------------------------------------------------------------------------------------
4.LOANS & ADVANCES (ATTACH LIST) -- -- --
- ----------------------------------------------------------------------------------------------------------------------
5.SALE OF ASSETS -- -- --
- ----------------------------------------------------------------------------------------------------------------------
6.OTHER (ATTACH LIST) -- -- --
- ----------------------------------------------------------------------------------------------------------------------
7.TOTAL RECEIPTS 504.28 728.49 504.01
- ----------------------------------------------------------------------------------------------------------------------
8.TOTAL CASH AVAILABLE 930.45 1,645.99 885.22
- ----------------------------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ----------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ----------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C>
4 3/2/98 Mellon Bank Transfer Dep. 265.41
- ----------------------------------------------------------------------------------------------------------------------
5 3/13/98 Mellon Bank Transfer Dep. 122.84
- ----------------------------------------------------------------------------------------------------------------------
6 3/18/98 John Goestenkors Advance 75.00
- ----------------------------------------------------------------------------------------------------------------------
7 3/26/98 Mellon Bank Transfer Dep. 115.76
- ----------------------------------------------------------------------------------------------------------------------
3/31/98 Service Charge 14.06
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 593.07
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 292.15
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(k)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, Mid-FL N.A.
Case No.: 97-02593JJF Account No.: 0526001124765
Account Type: Business Checking
- ----------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
DISBURSEMENTS JAN 1998 FEB 1998 MAR 1998
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1.CASH - BEGINNING OF MONTH (2.55) 23.88 9.91
- ----------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ----------------------------------------------------------------------------------------------------------------------
2.CASH SALES -- -- --
- ----------------------------------------------------------------------------------------------------------------------
3.COLLECTION OF ACCOUNTS RECEIVABLE 41.81 - 367.80
- ----------------------------------------------------------------------------------------------------------------------
4.LOANS & ADVANCES (ATTACH LIST) -- -- --
- ----------------------------------------------------------------------------------------------------------------------
5.SALE OF ASSETS -- -- --
- ----------------------------------------------------------------------------------------------------------------------
6.OTHER (ATTACH LIST) -- -- --
- ----------------------------------------------------------------------------------------------------------------------
7.TOTAL RECEIPTS 41.81 - 367.80
- ----------------------------------------------------------------------------------------------------------------------
8.TOTAL CASH AVAILABLE 39.26 23.88 377.71
- ----------------------------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ----------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ----------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C>
3/17/98 Mellon Bank Transfer Dep. 183.39
- ----------------------------------------------------------------------------------------------------------------------
3/25/98 Mellon Bank Transfer Dep. 184.41
- ----------------------------------------------------------------------------------------------------------------------
3/31/98 Service Charge 14.87
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 382.67
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) (4.96)
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(l)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, Mid-FL N.A.
Case No.: 97-02593JJF Account No.: 0031000213063
Account Type: Business Checking
- ----------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
DISBURSEMENTS --------------------------------------------------
JAN 1998 FEB 1998 MAR 1998
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1.CASH - BEGINNING OF MONTH (4.45) -- --
- ----------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ----------------------------------------------------------------------------------------------------------------------
2.CASH SALES -- -- --
- ----------------------------------------------------------------------------------------------------------------------
3.COLLECTION OF ACCOUNTS RECEIVABLE -- -- --
- ----------------------------------------------------------------------------------------------------------------------
4.LOANS & ADVANCES (ATTACH LIST) -- -- --
- ----------------------------------------------------------------------------------------------------------------------
5.SALE OF ASSETS -- -- --
- ----------------------------------------------------------------------------------------------------------------------
6.REFUND OVERDRAWN SERVICE CHARGE 4.45 -- --
- ----------------------------------------------------------------------------------------------------------------------
7.TOTAL RECEIPTS 4.45 -- --
- ----------------------------------------------------------------------------------------------------------------------
8.TOTAL CASH AVAILABLE -- -- --
- ----------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- ----------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ----------------------------------------------------------------------------------------------------------------------
<C> <C> <S> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT --
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) --
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-7
Case No.:97-02593JJF
- --------------------------------------------------------------------------------
PAYMENTS TO INSIDERS AND PROFESSIONALS
- --------------------------------------------------------------------------------
OF THE TOTAL DISBURSEMENTS SHOWN FOR THE MONTH, LIST THE AMOUNT PAID
TO INSIDERS (AS DEFINED IN SECTION 101 (31) (A)-(F) OF THE U.S. BANKRUPTCY CODE)
AND TO PROFESSIONALS. FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF
COMPENSATION PAID (e.g. SALARY, BONUS, COMMISSION, INSURANCE, HOUSING ALLOWANCE,
TRAVEL, CAR ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------
INSIDERS
- ------------------------------------------------------------------------------------------------------------- CUMULATIVE
TYPE OF AMOUNT UNPAID
NAME POSITION PAYMENT PAID BALANCE
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. See Accrual Basis-7(a)
- ------------------------------------------------------------------------------------------------------------------------------
2.
- ------------------------------------------------------------------------------------------------------------------------------
3.
- ------------------------------------------------------------------------------------------------------------------------------
4.
- ------------------------------------------------------------------------------------------------------------------------------
5.
- ------------------------------------------------------------------------------------------------------------------------------
6. TOTAL PAYMENTS TO INSIDERS
- ------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------
PROFESSIONALS
- ------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
TYPE DATE OF COURT
OF ORDER AUTHORIZING AMOUNT AMOUNT TOTAL PAID
NAME PROFESSIONAL PAYMENT APPROVED PAID TO DATE
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1. Saul, Ewing, et. al. debtor attorney [1] 90,810.34 90,810.34 150,000.00
- ------------------------------------------------------------------------------------------------------------------------------
2. Price Waterhouse, LLP creditor accountant [1] 6,622.18 6,622.18 6,622.18
- ------------------------------------------------------------------------------------------------------------------------------
3. Proskauer Rose, LLP creditor attorney [1] 24,825.93 24,825.93 24,825.93
- ------------------------------------------------------------------------------------------------------------------------------
4. Morris, James, et al. creditor attorney [1] 975.09 975.09 975.09
- ------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------
6. Total Payments to Professionals 123,233.54 123,233.54 182,423.20
- ------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
ADEQUATE PROTECTION PAYMENTS
- ------------------------------------------------------------------------------------------------------------------------------
SCHEDULED AMOUNTS
MONTHLY PAID TOTAL
PAYMENTS DURING UNPAID
NAME OF CREDITOR DUE MONTH POSTPETITION
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. N/A
- ------------------------------------------------------------------------------------------------------------------------------
2.
- ------------------------------------------------------------------------------------------------------------------------------
3.
- ------------------------------------------------------------------------------------------------------------------------------
4.
- ------------------------------------------------------------------------------------------------------------------------------
5.
- ------------------------------------------------------------------------------------------------------------------------------
6.
- ------------------------------------------------------------------------------------------------------------------------------
7.
- ------------------------------------------------------------------------------------------------------------------------------
8. TOTAL
- ------------------------------------------------------------------------------------------------------------------------------
</TABLE>
[1] Per court order dated December 16, 1997 authorizing the payment of
Administrative Fees.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-7(a)
Case No.:97-02593JJF
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------------
INSIDERS
- --------------------------------------------------------------------------------------------------------- CUMULATIVE
TYPE OF AMOUNT UNPAID
NAME POSITION PAYMENT PAID BALANCE
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
HARVEY B. ADAMS CEO/Chairman Salary $ 18,389.44 8,413.44 [1]
- --------------------------------------------------------------------------------------------------------------------------
HARVEY B. ADAMS CEO/Chairman Auto Allowance 1,134.93 --
- --------------------------------------------------------------------------------------------------------------------------
HARVEY B. ADAMS CEO/Chairman Life Insurance 1,887.30 --
- --------------------------------------------------------------------------------------------------------------------------
RONALD J. ADAMS President/Director Salary 11,646.64 2,524.06 [2]
- --------------------------------------------------------------------------------------------------------------------------
RONALD J. ADAMS President/Director Auto Allowance 1,116.93 --
- --------------------------------------------------------------------------------------------------------------------------
RONALD J. ADAMS President/Director Life Insurance 2,191.80 --
- --------------------------------------------------------------------------------------------------------------------------
STEPHEN M. ADAMS V.P.-Prod. Salary 11,687.50 --
- --------------------------------------------------------------------------------------------------------------------------
BURTON R. CHASNOV Exec. V.P./C.F.O. Salary 15,000.00 --
- --------------------------------------------------------------------------------------------------------------------------
BURTON R. CHASNOV Exec. V.P./C.F.O. Auto Benefit 328.08 --
- --------------------------------------------------------------------------------------------------------------------------
BURTON R. CHASNOV Exec. V.P./C.F.O. Disability Insu. 62.50 --
- --------------------------------------------------------------------------------------------------------------------------
BURTON R. CHASNOV Exec. V.P./C.F.O. Rent 3,473.23 --
- --------------------------------------------------------------------------------------------------------------------------
R & H PARTNERS N/A Rent 5,512.00 --
- --------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------
Total Payments to Insiders $ 72,430.35
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
[1] Represents 10% salary deferral beginning on December 15, 1997.
[2] Represents 5% salary deferral beginning on December 15, 1997.
<PAGE>
LIST OF OMITTED SCHEDULES
1. Schedule of Cash Collateral of Mellon Bank Account Other Cash Receipts for
the Period March 1, 1998 to March 31, 1998 (Account Number 2-703-791) [4(a)(1)]
2. Schedule of Mellon Bank Account Other Cash Receipts for the Period March 1,
1998 to March 31, 1998 (Account Number 2-953-131) [4(b)(1)]
3. Schedules of Mellon Bank Account Cash Disbursements for the Period March 1,
1998 to March 31, 1998 (Account Number 2-953-131):
Auburndale - 4(b)(2)
Apopka - 4(b)(3)
California - 4(b)(4)
Acworth - 4(b)(5)
Jacksonville - 4(b)(6)
Houston - 4(b)(7)
Lakeland - 4(b)(8)
Chicago - 4(b)(9)
Corporate - 4(b)(10)
Wires & Bank Debits - 4(b)(11)
4. Schedule of Huntington Bank Payroll Account Cash Disbursements for the Period
March 1, 1998 to March 31, 1998 (Account Number 1603427364) [4(g)(1)]
5. Schedule of Suntrust Bank Payroll Account Voided Checks as of March 31, 1998
(Account Number 0215252138566) [4(h)(1)]
6. Schedules of Accounts Receivable Aging, Post Petition Accounts Payable Aging,
and Status of Post Petition Taxes as of March 31, 1998 [5]
7. Schedule of all Operating Bank Account Reconciliations and Cash on Hand as of
March 31, 1998 [6(a) to 6(c)]
8. Schedule of Mellon Bank Account Last Checks Written as of March 31, 1998
(Account Number 2-953-131) [6(d)]
9. Schedule of Suntrust Bank Payroll Account Reconciling Item as of March 31,
1998 (Account Number 0215252138566) [6(e)]
10. Questionnaire and Insurance Information [8]
11. Responses to Questionnaire [8(a)]
12. Personnel Headcount Activity [9]
13. Mellon Bank Statement of Account for the period February 27, 1998 to March
31, 1998 (Account Number 2-703-791)
Page 1 of 2
<PAGE>
LIST OF OMITTED SCHEDULES
14. Mellon Bank Statement of Account for the period February 27, 1998 to March
31, 1998 (Account Number 2-953-131)
15. Merrill Lynch Bank Statement of Account for the period February 28, 1998 to
March 31, 1998 (Account Number 64A-07644)
16. Great Western Bank Statement of Account for the period March 1, 1998 to
March 31, 1998 (Account Number 446-818297-7)
17. NationsBank Statement of Account for the period March 1, 1998 to March 31,
1998 (Account Number 010-333-0164)
18. Huntington National Bank Statement of Account for the period March 1, 1998
to March 31, 1998 (Account Number 1603427364)
19. SunTrust Bank Statement of Account for the period March 1, 1998 to March 31,
1998 (Account Number 0215252138566)
20. SunTrust Bank Statement of Account for the period March 1, 1998 to March 31,
1998 (Account Number 0288008734682)
21. SunTrust Bank Statement of Account for the period March 1, 1998 to March 31,
1998 (Account Number 0710629932410)
22. SunTrust Bank Statement of Account for the period March 1, 1998 to March 31,
1998 (Account Number 0526001124765)
23. Correspondence from Automatic Data Processing confirming electronic debits
of payroll tax deposits
Page 2 of 2
CONSOLIDATED STAINLESS, INC. Exhibit 99.2
Case No.: 97-02593JJF ACCRUAL BASIS-1
OFFICE OF THE UNITED STATES TRUSTEE - REGION 3
MONTHLY OPERATING REPORT
for the month ending April 30, 1998
================================================================================
Document Previously Explanation
Required Attachments: Attached Submitted Attached
1. Tax Receipts ( X ) ( ) ( )
2. Bank Statements ( X ) ( ) ( )
3. Most recently filed ( ) ( X ) ( )
Income Tax Return
4. Most recent Annual Financial ( ) ( X ) ( )
Statements prepared by accountant
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-9) AND THE ACCOMPANYING
ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT
AND COMPLETE. DECLARATION OF PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON
ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
/s/ Ronald J. Adams President/Chief Operating Officer
- ----------------------------------- -----------------------------------
SIGNATURE OF RESPONSIBLE PARTY TITLE
Ronald J. Adams May 14, 1998
- ----------------------------------- -----------------------------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
/s/ Daniel A. Rashy Controller
- ----------------------------------- -----------------------------------
SIGNATURE OF PREPARER TITLE
Daniel A. Rashy May 14, 1998
- ----------------------------------- -----------------------------------
PRINTED NAME OF PREPARER DATE
All Chapter 11 debtors must file this report with the Court and serve a copy on
the United States Trustee no later than the 15th day of the month following the
end of the month covered by the report.
<PAGE>
CONSOLIDATED STAINLESS, INC. COMPARATIVE BALANCE SHEET ACCRUAL BASIS-2
Case No.: 97-02593JJF 2ND QUARTER
---------------
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------------------
ASSETS MONTH MONTH MONTH
--------------------------------------------------------
SCHEDULE APR 1998
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C>
1. CASH 38,018
- --------------------------------------------------------------------------------------------------------------------------------
2. ACCOUNTS RECEIVABLE (NET) 3,718,433
- --------------------------------------------------------------------------------------------------------------------------------
3. INVENTORY 13,532,703
- --------------------------------------------------------------------------------------------------------------------------------
4. NOTES RECEIVABLE 263,335
- --------------------------------------------------------------------------------------------------------------------------------
5. PREPAID EXPENSES* 269,606
- --------------------------------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) 2(a) 495,066
- --------------------------------------------------------------------------------------------------------------------------------
7. TOTAL CURRENT ASSETS 18,317,161
- --------------------------------------------------------------------------------------------------------------------------------
8. PROPERTY, PLANT & EQUIPMENT 20,103,179
- --------------------------------------------------------------------------------------------------------------------------------
9. LESS: ACCUMULATED
DEPRECIATION / DEPLETION 5,525,757
- --------------------------------------------------------------------------------------------------------------------------------
10. NET PROPERTY, PLANT & EQUIPMENT 14,577,422
- --------------------------------------------------------------------------------------------------------------------------------
11. DUE FROM AFFILIATES & INSIDERS 49,023
- --------------------------------------------------------------------------------------------------------------------------------
12. INTANGIBLES (ATTACH LIST) --
- --------------------------------------------------------------------------------------------------------------------------------
13. OTHER (ATTACH LIST) 2(b) 258,291
- --------------------------------------------------------------------------------------------------------------------------------
14. TOTAL ASSETS 33,201,897
- --------------------------------------------------------------------------------------------------------------------------------
POSTPETITION LIABILITIES
- --------------------------------------------------------------------------------------------------------------------------------
15. ACCOUNTS PAYABLE 172,541
- --------------------------------------------------------------------------------------------------------------------------------
16. TAXES PAYABLE 138,929
- --------------------------------------------------------------------------------------------------------------------------------
17. NOTES PAYABLE --
- --------------------------------------------------------------------------------------------------------------------------------
18. PROFESSIONAL FEES 574,379
- --------------------------------------------------------------------------------------------------------------------------------
19. SECURED DEBT 6,773,661
- --------------------------------------------------------------------------------------------------------------------------------
20. DUE TO AFFILIATES & INSIDERS --
- --------------------------------------------------------------------------------------------------------------------------------
21. OTHER (ATTACH LIST) 2(c) 830,283
- --------------------------------------------------------------------------------------------------------------------------------
22. TOTAL POSTPETITION LIABILITIES 8,489,793
- --------------------------------------------------------------------------------------------------------------------------------
PREPETITION LIABILITIES
- --------------------------------------------------------------------------------------------------------------------------------
23. SECURED DEBT 14,690,039
- --------------------------------------------------------------------------------------------------------------------------------
24. PRIORITY DEBT 673,134
- --------------------------------------------------------------------------------------------------------------------------------
25. UNSECURED DEBT 10,145,949
- --------------------------------------------------------------------------------------------------------------------------------
26. OTHER (ATTACH LIST) 2(d) 550,413
- --------------------------------------------------------------------------------------------------------------------------------
27. TOTAL PREPETITION LIABILITIES 26,059,535
- --------------------------------------------------------------------------------------------------------------------------------
28. TOTAL LIABILITIES 34,549,328
- --------------------------------------------------------------------------------------------------------------------------------
EQUITY
- --------------------------------------------------------------------------------------------------------------------------------
29. OWNERS' PREPETITION EQUITY 2,153,841
- --------------------------------------------------------------------------------------------------------------------------------
30. POSTPETITION CUMULATIVE
PROFIT OR (LOSS) (3,501,272)
- --------------------------------------------------------------------------------------------------------------------------------
31. TOTAL EQUITY (DEFICIT) (1,347,431)
- --------------------------------------------------------------------------------------------------------------------------------
32. TOTAL LIABILITIES & OWNERS' EQUITY 33,201,897
- --------------------------------------------------------------------------------------------------------------------------------
</TABLE>
* Of this amount $225,430 represents prepaid inventory.
<PAGE>
CONSOLIDATED STAINLESS, INC. OTHER CURRENT ASSETS ACCRUAL BASIS-2(a)
Case No.: 97-02593JJF 2ND QUARTER
---------------
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
-----------------------------------------------
APR 1998
- ------------------------------------------------------------------------------------------------------------
<S> <C>
OTHER RECEIVABLES 97,024
- ------------------------------------------------------------------------------------------------------------
DEFERRED FINANCING COSTS (NET) --
- ------------------------------------------------------------------------------------------------------------
DEFERRED INCOME TAXES 398,042
- ------------------------------------------------------------------------------------------------------------
TOTAL OTHER CURRENT ASSETS 495,066
- ------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
CONSOLIDATED STAINLESS, INC. OTHER ASSETS ACCRUAL BASIS-2(b)
Case No.: 97-02593JJF 2ND QUARTER
---------------
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
------------------------------------------------
APR 1998
- -------------------------------------------------------------------------------------------------------------
<S> <C>
SECURITY & MISCELLANEOUS DEPOSITS 80,793
- -------------------------------------------------------------------------------------------------------------
RETAINER - SAUL, EWING, REMICK, & SAUL, LLP 72,073
- -------------------------------------------------------------------------------------------------------------
RETAINER - GREENBERG, TRAURIG, HOFFMAN
LIPOFF, ROSEN & QUENTEL, PA 45,425
- -------------------------------------------------------------------------------------------------------------
RETAINER - BDO SEIDMAN, LLP 25,000
- -------------------------------------------------------------------------------------------------------------
RETAINER - GLICKSTEIN, LAVAL, CARRIS,
LEVITT, LOOMIS & DANTUMA, PA 10,000
- -------------------------------------------------------------------------------------------------------------
RETAINER - SLUSSER ASSOCIATES 12,500
- -------------------------------------------------------------------------------------------------------------
RETAINER - GENESIS MERCHANT GROUP
SECURITIES, LLC 12,500
- -------------------------------------------------------------------------------------------------------------
TOTAL OTHER ASSETS 258,291
- -------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
CONSOLIDATED STAINLESS, INC. OTHER POSTPETITION LIABILITIES ACCRUAL BASIS-2(c)
Case No.: 97-02593JJF 2ND QUARTER
---------------
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
-----------------------------------------------
APR 1998
- ------------------------------------------------------------------------------------------------------------
<S> <C>
BOOK OVERDRAFT 104,270
- ------------------------------------------------------------------------------------------------------------
ACCRUED PAYROLL AND RELATED TAXES 159,784
- ------------------------------------------------------------------------------------------------------------
ACCRUED INTEREST PAYABLE * 546,986
- ------------------------------------------------------------------------------------------------------------
ACCRUED EXPENSES - OTHER 19,243
- ------------------------------------------------------------------------------------------------------------
TOTAL OTHER POSTPETITION LIABILITIES 830,283
- ------------------------------------------------------------------------------------------------------------
</TABLE>
* Interest has been accrued for accounting purposes only.
<PAGE>
CONSOLIDATED STAINLESS, INC. OTHER POSTPETITION LIABILITIES ACCRUAL BASIS-2(d)
Case No.: 97-02593JJF 2ND QUARTER
---------------
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
-----------------------------------------------
APR 1998
- ------------------------------------------------------------------------------------------------------------
<S> <C>
PROPERTY TAX ACCRUAL 17,655
- ------------------------------------------------------------------------------------------------------------
OTHER TAXES PAYABLE 14,561
- ------------------------------------------------------------------------------------------------------------
ACCRUED EXPENSES - OTHER 40,967
- ------------------------------------------------------------------------------------------------------------
DEFERRED CREDIT 35,730
- ------------------------------------------------------------------------------------------------------------
RESERVE FOR LITIGATION 30,500
- ------------------------------------------------------------------------------------------------------------
MISCELLANEOUS PAYABLES 12,958
- ------------------------------------------------------------------------------------------------------------
DEFERRED INCOME TAXES 398,042
- ------------------------------------------------------------------------------------------------------------
TOTAL OTHER PREPETITION LIABILITIES 550,413
- ------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-3
Case No.: 97-02593JJF 2ND QUARTER
---------------
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------------
REVENUES MONTH MONTH MONTH
--------------------------------------------------------
COMMENTS APR 1998
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
1. GROSS REVENUES 1,973,037
- --------------------------------------------------------------------------------------------------------------------------
2. LESS: RETURNS & DISCOUNTS (51,631)
- --------------------------------------------------------------------------------------------------------------------------
3. NET REVENUE 1,921,406
- --------------------------------------------------------------------------------------------------------------------------
COST OF GOODS SOLD
- --------------------------------------------------------------------------------------------------------------------------
4. BEGINNING INVENTORY 14,734,878
- --------------------------------------------------------------------------------------------------------------------------
5. ADD: PURCHASES & CAPITALIZED OVERHEAD 440,190
- --------------------------------------------------------------------------------------------------------------------------
6. LESS: ENDING INVENTORY 13,532,703
- --------------------------------------------------------------------------------------------------------------------------
7. COST OF GOODS SOLD 1,642,365
- --------------------------------------------------------------------------------------------------------------------------
8. GROSS PROFIT 279,041
- --------------------------------------------------------------------------------------------------------------------------
OPERATING EXPENSES
- --------------------------------------------------------------------------------------------------------------------------
9. OFFICER / INSIDER COMPENSATION 70,058
- --------------------------------------------------------------------------------------------------------------------------
10. DIRECT LABOR / SALARIES 276,285
- --------------------------------------------------------------------------------------------------------------------------
11. PAYROLL TAXES 27,027
- --------------------------------------------------------------------------------------------------------------------------
12. RENT & LEASE EXPENSE [1] 25,981
- --------------------------------------------------------------------------------------------------------------------------
13. INSURANCE 52,998
- --------------------------------------------------------------------------------------------------------------------------
14. DEPRECIATION / DEPLETION / AMORTIZATION 124,371
- --------------------------------------------------------------------------------------------------------------------------
15. GENERAL & ADMINISTRATIVE 56,491
- --------------------------------------------------------------------------------------------------------------------------
16. LESS: CAPITALIZED OVERHEAD (194,395)
- --------------------------------------------------------------------------------------------------------------------------
17. TOTAL OPERATING EXPENSES 438,816
- --------------------------------------------------------------------------------------------------------------------------
18. OPERATING INCOME (LOSS) (159,775)
- --------------------------------------------------------------------------------------------------------------------------
OTHER INCOME & EXPENSES
- --------------------------------------------------------------------------------------------------------------------------
19. INTEREST INCOME (2,753)
- --------------------------------------------------------------------------------------------------------------------------
20. OTHER EXPENSES (ATTACH LIST) -
- --------------------------------------------------------------------------------------------------------------------------
21. INTEREST EXPENSE 215,940
- --------------------------------------------------------------------------------------------------------------------------
22. OTHER (ATTACH LIST) (586)
- --------------------------------------------------------------------------------------------------------------------------
23. NET OTHER INCOME & EXPENSES 212,601
- --------------------------------------------------------------------------------------------------------------------------
REORGANIZATION EXPENSES
- --------------------------------------------------------------------------------------------------------------------------
24. PROFESSIONAL FEES 249,589
- --------------------------------------------------------------------------------------------------------------------------
25. U.S. TRUSTEE FEES (166)
- --------------------------------------------------------------------------------------------------------------------------
26. OTHER (ATTACH LIST) 3(a) 159,432
- --------------------------------------------------------------------------------------------------------------------------
27. TOTAL REORGANIZATION EXPENSES 408,855
- --------------------------------------------------------------------------------------------------------------------------
28. INCOME TAX 800
- --------------------------------------------------------------------------------------------------------------------------
29. NET PROFIT (LOSS) (782,031)
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
[1] Includes $9,161 of rent expense from facilities leased from insiders.
<PAGE>
CONSOLIDATED STAINLESS, INC. OTHER REORGANIZATION COSTS ACCRUAL BASIS-3(a)
Case No.: 97-02593JJF 2ND QUARTER
---------------
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
-----------------------------------------------
APR 1998
- ------------------------------------------------------------------------------------------------------------
<S> <C>
TRAVEL 1,725
- ------------------------------------------------------------------------------------------------------------
RESTRUCTURING COSTS 124,387
- ------------------------------------------------------------------------------------------------------------
RELOCATION COSTS 33,320
- ------------------------------------------------------------------------------------------------------------
TOTAL OTHER REORGANIZATION COSTS 159,432
- ------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(a)
<TABLE>
<CAPTION>
Bank: Mellon Bank, N.A.
Case No.: 97-02593JJF Account No.: 2-703-791
Account Type: Cash Collateral of Mellon Bank*
- ------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
----------------------------------------------------
DISBURSEMENTS APR 1998
- ------------------------------------------------------------------------------------------------------------------------
<S> <C>
1.CASH - BEGINNING OF MONTH 47,222.12
- ------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ------------------------------------------------------------------------------------------------------------------------
2.CASH SALES --
- ------------------------------------------------------------------------------------------------------------------------
3.COLLECTION OF ACCOUNTS RECEIVABLE 2,302,139.72
- ------------------------------------------------------------------------------------------------------------------------
4.LOANS & ADVANCES (ATTACH LIST) --
- ------------------------------------------------------------------------------------------------------------------------
5.SALE OF ASSETS --
- ------------------------------------------------------------------------------------------------------------------------
6.OTHER (ATTACH LIST) 39,457.40
- ------------------------------------------------------------------------------------------------------------------------
7.TOTAL RECEIPTS 2,341,597.12
- ------------------------------------------------------------------------------------------------------------------------
8.TOTAL CASH AVAILABLE 2,388,819.24
- ------------------------------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
Revolving Line of Credit Pay Downs 2,358,454.63
- ------------------------------------------------------------------------------------------------------------------------
4/15/98 Credit Card Merchant Fees 111.99
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 2,358,566.62
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 30,252.62
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
* Funds in this account are to be used solely to pay down the balance owed on
any outstanding indebtedness the Company may have to Mellon Bank. Funds are not
available for operating purposes.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(b)
<TABLE>
<CAPTION>
Bank: Mellon Bank, N.A.
Case No.: 97-02593JJF Account No.: 2-953-131
Account Type: Business Checking
- ------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
----------------------------------------------------
DISBURSEMENTS APR 1998
- ------------------------------------------------------------------------------------------------------------------------
<S> <C>
1.CASH - BEGINNING OF MONTH (178,895.54)
- ------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ------------------------------------------------------------------------------------------------------------------------
2.CASH SALES --
- ------------------------------------------------------------------------------------------------------------------------
3.COLLECTION OF ACCOUNTS RECEIVABLE --
- ------------------------------------------------------------------------------------------------------------------------
4.REVOLVER ADVANCES 1,428,218.10
- ------------------------------------------------------------------------------------------------------------------------
5.OTHER (ATTACH LIST) 38,903.73
- ------------------------------------------------------------------------------------------------------------------------
6.ADJUSTMENT TO RECONCILE --
- ------------------------------------------------------------------------------------------------------------------------
7.TOTAL RECEIPTS 1,467,121.83
- ------------------------------------------------------------------------------------------------------------------------
8.TOTAL CASH AVAILABLE 1,288,226.29
- ------------------------------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
Auburndale (See Attached List) 4(b)(2) 60,009.88
- ------------------------------------------------------------------------------------------------------------------------
Apopka (See Attached List) 4(b)(3) 33,960.32
- ------------------------------------------------------------------------------------------------------------------------
California (See Attached List) 4(b)(4) 12,539.79
- ------------------------------------------------------------------------------------------------------------------------
Acworth (See Attached List) 4(b)(5) 3,650.78
- ------------------------------------------------------------------------------------------------------------------------
Jacksonville (See Attached List) 4(b)(6) 50,077.82
- ------------------------------------------------------------------------------------------------------------------------
Houston (See Attached List) 4(b)(7) 32,176.81
- ------------------------------------------------------------------------------------------------------------------------
Lakeland (See Attached List) 4(b)(8) 28,278.00
- ------------------------------------------------------------------------------------------------------------------------
Chicago (See Attached List) 4(b)(9) 10,557.44
- ------------------------------------------------------------------------------------------------------------------------
Corporate (See Attached List) 4(b)(10) 253,796.04
- ------------------------------------------------------------------------------------------------------------------------
Wires & Bank Debits (See Attached List) 4(b)(11) 907,449.04
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 1,392,495.92
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) (104,269.63)
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(c)
<TABLE>
<CAPTION>
Bank: Merrill Lynch
Case No.: 97-02593JJF Account No.: 64A-07644
Account Type: Cash & Money Fund
- ----------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
DISBURSEMENTS APR 1998
- ----------------------------------------------------------------------------------------------------------------------
<S> <C>
1.CASH - BEGINNING OF MONTH 40.06
- ----------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ----------------------------------------------------------------------------------------------------------------------
2.CASH SALES --
- ----------------------------------------------------------------------------------------------------------------------
3.COLLECTION OF ACCOUNTS RECEIVABLE --
- ----------------------------------------------------------------------------------------------------------------------
4.LOANS & ADVANCES (ATTACH LIST) --
- ----------------------------------------------------------------------------------------------------------------------
5.SALE OF ASSETS --
- ----------------------------------------------------------------------------------------------------------------------
6.INTEREST INCOME 0.26
- ----------------------------------------------------------------------------------------------------------------------
7.TOTAL RECEIPTS 0.26
- ----------------------------------------------------------------------------------------------------------------------
8.TOTAL CASH AVAILABLE 40.32
- ----------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- ----------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ----------------------------------------------------------------------------------------------------------------------
N/A
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT --
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 40.32
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(d)
<TABLE>
<CAPTION>
Bank: Great Western
Case No.: 97-02593JJF Account No.: 446-818297-7
Account Type: Business Checking
- ----------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
DISBURSEMENTS APR 1998
- ----------------------------------------------------------------------------------------------------------------------
<S> <C>
1.CASH - BEGINNING OF MONTH 140.08
- ----------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ----------------------------------------------------------------------------------------------------------------------
2.CASH SALES --
- ----------------------------------------------------------------------------------------------------------------------
3.DEPOSIT PETTY CASH CHECK --
- ----------------------------------------------------------------------------------------------------------------------
4.LOANS & ADVANCES (ATTACH LIST) --
- ----------------------------------------------------------------------------------------------------------------------
5.SALE OF ASSETS --
- ----------------------------------------------------------------------------------------------------------------------
6.OTHER (ATTACH LIST) --
- ----------------------------------------------------------------------------------------------------------------------
7.TOTAL RECEIPTS --
- ----------------------------------------------------------------------------------------------------------------------
8.TOTAL CASH AVAILABLE 140.08
- ----------------------------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ----------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
2006 4/3/98 Petty Cash 20.00
- ----------------------------------------------------------------------------------------------------------------------
4/31/98 Monthly Service Charge 8.20
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 28.20
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 111.88
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(e)
<TABLE>
<CAPTION>
Bank: NationsBank, N.A.
Case No.: 97-02593JJF Account No.: 010-333-0164
Account Type: Business Checking
- ----------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
DISBURSEMENTS APR 1998
- ----------------------------------------------------------------------------------------------------------------------
<S> <C>
1.CASH - BEGINNING OF MONTH (18.97)
- ----------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ----------------------------------------------------------------------------------------------------------------------
2.CASH SALES --
- ----------------------------------------------------------------------------------------------------------------------
3.COLLECTION OF ACCOUNTS RECEIVABLE --
- ----------------------------------------------------------------------------------------------------------------------
4.LOANS & ADVANCES (ATTACH LIST) --
- ----------------------------------------------------------------------------------------------------------------------
5.SALE OF ASSETS --
- ----------------------------------------------------------------------------------------------------------------------
6.BANK ADJUSTMENT TO CLOSE ACCOUNT 18.97
- ----------------------------------------------------------------------------------------------------------------------
7.TOTAL RECEIPTS 18.97
- ----------------------------------------------------------------------------------------------------------------------
8.TOTAL CASH AVAILABLE --
- ----------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- ----------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT --
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) --
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(f)
<TABLE>
<CAPTION>
Bank: Huntington Nat'l Bank
Case No.: 97-02593JJF Account No.: 1603427364
Account Type: Payroll
- ----------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
DISBURSEMENTS APR 1998
- ----------------------------------------------------------------------------------------------------------------------
<S> <C>
1.CASH - BEGINNING OF MONTH 76.24
- ----------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ----------------------------------------------------------------------------------------------------------------------
2.CASH SALES --
- ----------------------------------------------------------------------------------------------------------------------
3.COLLECTION OF ACCOUNTS RECEIVABLE --
- ----------------------------------------------------------------------------------------------------------------------
4.DEPOSITS 227,769.32
- ----------------------------------------------------------------------------------------------------------------------
5.SALE OF ASSETS --
- ----------------------------------------------------------------------------------------------------------------------
6.OTHER (ATTACH LIST) 532.25
- ----------------------------------------------------------------------------------------------------------------------
7.TOTAL RECEIPTS 228,301.57
- ----------------------------------------------------------------------------------------------------------------------
8.TOTAL CASH AVAILABLE 228,377.81
- ----------------------------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ----------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
See Attached 228,249.00
- ----------------------------------------------------------------------------------------------------------------------
4/15/98 Service Charge 19.00
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 228,268.00
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 109.81
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(g)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, Cent. FL N.A.
Case No.: 97-02593JJF Account No.: 0215252138566
Account Type: Payroll
- ----------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
DISBURSEMENTS APR 1998
- ----------------------------------------------------------------------------------------------------------------------
<S> <C>
1.CASH - BEGINNING OF MONTH 13.52
- ----------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ----------------------------------------------------------------------------------------------------------------------
2.CASH SALES --
- ----------------------------------------------------------------------------------------------------------------------
3.COLLECTION OF ACCOUNTS RECEIVABLE --
- ----------------------------------------------------------------------------------------------------------------------
4.LOANS & ADVANCES (ATTACH LIST) --
- ----------------------------------------------------------------------------------------------------------------------
5.SALE OF ASSETS --
- ----------------------------------------------------------------------------------------------------------------------
6.OTHER (ATTACH LIST) --
- ----------------------------------------------------------------------------------------------------------------------
7.TOTAL RECEIPTS --
- ----------------------------------------------------------------------------------------------------------------------
8.TOTAL CASH AVAILABLE 13.52
- ----------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- ----------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
4/6/98 Transfer to Mellon # 2-703-791 to close account Trans. 13.52
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 13.52
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) --
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(h)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, N. FL N.A.
Case No.: 97-02593JJF Account No.: 0288008734682
Account Type: Business Checking
- ----------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
DISBURSEMENTS APR 1998
- ----------------------------------------------------------------------------------------------------------------------
<S> <C>
1.CASH - BEGINNING OF MONTH 1,595.98
- ----------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ----------------------------------------------------------------------------------------------------------------------
2.CASH SALES --
- ----------------------------------------------------------------------------------------------------------------------
3.COLLECTION OF ACCOUNTS RECEIVABLE 185.13
- ----------------------------------------------------------------------------------------------------------------------
4.LOANS & ADVANCES (ATTACH LIST) --
- ----------------------------------------------------------------------------------------------------------------------
5.SALE OF ASSETS --
- ----------------------------------------------------------------------------------------------------------------------
6.OTHER (ATTACH LIST) --
- ----------------------------------------------------------------------------------------------------------------------
7.TOTAL RECEIPTS 185.13
- ----------------------------------------------------------------------------------------------------------------------
8.TOTAL CASH AVAILABLE 1,781.11
- ----------------------------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ----------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1004 4/27/98 Consolidated Stainless, Inc. * 300.00
- ----------------------------------------------------------------------------------------------------------------------
1005 4/27/98 Mellon Bank Transfer Dep. 185.13
- ----------------------------------------------------------------------------------------------------------------------
4/30/98 Monthly Maintenance Fee 15.00
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
* Transfer to SunTrust # 0526001124765 to fund account
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 500.13
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 1,280.98
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(i)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, Cent. FL N.A.
Case No.: 97-02593JJF Account No.: 0710629932410
Account Type: Business Checking
- ----------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
DISBURSEMENTS APR 1998
- ----------------------------------------------------------------------------------------------------------------------
<S> <C>
1.CASH - BEGINNING OF MONTH 292.15
- ----------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ----------------------------------------------------------------------------------------------------------------------
2.CASH SALES --
- ----------------------------------------------------------------------------------------------------------------------
3.COLLECTION OF ACCOUNTS RECEIVABLE --
- ----------------------------------------------------------------------------------------------------------------------
4.LOANS & ADVANCES (ATTACH LIST) --
- ----------------------------------------------------------------------------------------------------------------------
5.SALE OF ASSETS --
- ----------------------------------------------------------------------------------------------------------------------
6.OTHER (ATTACH LIST) --
- ----------------------------------------------------------------------------------------------------------------------
7.TOTAL RECEIPTS --
- ----------------------------------------------------------------------------------------------------------------------
8.TOTAL CASH AVAILABLE 292.15
- ----------------------------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ----------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
4/30/98 Service Charge 12.56
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 12.56
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 279.59
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(j)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, Mid-FL N.A.
Case No.: 97-02593JJF Account No.: 0526001124765
Account Type: Business Checking
- ---------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
----------------------------------
DISBURSEMENTS APR 1998
- ---------------------------------------------------------------------------------
<S> <C>
1.CASH - BEGINNING OF MONTH (4.96)
- ---------------------------------------------------------------------------------
RECEIPTS
- ---------------------------------------------------------------------------------
2.CASH SALES --
- ---------------------------------------------------------------------------------
3.COLLECTION OF ACCOUNTS RECEIVABLE 962.93
- ---------------------------------------------------------------------------------
4.LOANS & ADVANCES (ATTACH LIST) --
- ---------------------------------------------------------------------------------
5.SALE OF ASSETS --
- ---------------------------------------------------------------------------------
6.OTHER (ATTACH LIST) 9,566.40
- ---------------------------------------------------------------------------------
7.TOTAL RECEIPTS 10,529.33
- ---------------------------------------------------------------------------------
8.TOTAL CASH AVAILABLE 10,524.37
- ---------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ---------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ---------------------------------------------------------------------------------
<S><C> <C> <C> <C>
3 4/3/98 Mellon Bank Transfer Dep. 9,266.40
- ---------------------------------------------------------------------------------
4 4/14/98 Mellon Bank Transfer Dep. 704.78
- ---------------------------------------------------------------------------------
4/23/98 NSF Penalty 28.50
- ---------------------------------------------------------------------------------
4/30/98 Service Charge 12.09
- ---------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 10,011.77
------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 512.60
- ---------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-7
Case No.:97-02593JJF
- --------------------------------------------------------------------------------
PAYMENTS TO INSIDERS AND PROFESSIONALS
- --------------------------------------------------------------------------------
OF THE TOTAL DISBURSEMENTS SHOWN FOR THE MONTH, LIST THE AMOUNT PAID
TO INSIDERS (AS DEFINED IN SECTION 101 (31) (A)-(F) OF THE U.S. BANKRUPTCY CODE)
AND TO PROFESSIONALS. FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF
COMPENSATION PAID (e.g. SALARY, BONUS, COMMISSION, INSURANCE, HOUSING ALLOWANCE,
TRAVEL, CAR ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------
INSIDERS
- ---------------------------------------------------------------------- CUMULATIVE ------
TYPE OF AMOUNT UNPAID
NAME POSITION PAYMENT PAID BALANCE
- -------------------------------------------------------------------------------------------
<S> <C>
1. See Accrual Basis-7(a)
- -------------------------------------------------------------------------------------------
2.
- -------------------------------------------------------------------------------------------
3.
- -------------------------------------------------------------------------------------------
4.
- -------------------------------------------------------------------------------------------
5.
- -------------------------------------------------------------------------------------------
6. TOTAL PAYMENTS TO INSIDERS
- -------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------
<CAPTION>
PROFESSIONALS
- -------------------------------------------------------------------------------------------
TYPE DATE OF COURT
OF ORDER AUTHORIZING AMOUNT AMOUNT TOTAL PAID
NAME PROFESSIONAL PAYMENT APPROVED PAID TO DATE
- -------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1. Saul, Ewing, et. al debtor attorney [1] 50,000.00 50,000.00 200,000.00
- -------------------------------------------------------------------------------------------
2. Keystone Appraisal appraiser [2] 9,000.00 9,000.00 9,000.00
- -------------------------------------------------------------------------------------------
3.
- -------------------------------------------------------------------------------------------
4.
- -------------------------------------------------------------------------------------------
5.
- -------------------------------------------------------------------------------------------
6.
- -------------------------------------------------------------------------------------------
7.
- -------------------------------------------------------------------------------------------
8. Total Payments to Professionals 59,000.00 59,000.00 209,000.00
- -------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------
<CAPTION>
ADEQUATE PROTECTION PAYMENTS
- -------------------------------------------------------------------------------------------
SCHEDULED AMOUNTS
MONTHLY PAID TOTAL
PAYMENTS DURING UNPAID
NAME OF CREDITOR DUE MONTH POSTPETITION
- -------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. Phoenixcor, Inc. 10,153.95 10,153.95 --
- -------------------------------------------------------------------------------------------
2.
- -------------------------------------------------------------------------------------------
3.
- -------------------------------------------------------------------------------------------
4.
- -------------------------------------------------------------------------------------------
5.
- -------------------------------------------------------------------------------------------
6.
- -------------------------------------------------------------------------------------------
7.
- -------------------------------------------------------------------------------------------
8. TOTAL 10,153.95 10,153.95 --
- -------------------------------------------------------------------------------------------
</TABLE>
[1] Per court order dated December 16, 1997 authorizing the payment of
Administrative Fees.
[2] Per court order dated April 23, 1998 authorizing the payment of Appraisal
Fees.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-7(a)
Case No.:97-02593JJF
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------
INSIDERS
- --------------------------------------------------------------------------------------- CUMULATIVE
TYPE OF AMOUNT UNPAID
NAME POSITION PAYMENT PAID BALANCE
- -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
HARVEY B. ADAMS CEO/Chairman Salary $ 17,307.70 10,817.28 [1]
- -----------------------------------------------------------------------------------------------------
HARVEY B. ADAMS CEO/Chairman Auto Allowance 923.08 --
- -----------------------------------------------------------------------------------------------------
HARVEY B. ADAMS CEO/Chairman Life Insurance 1,887.30 --
- -----------------------------------------------------------------------------------------------------
RONALD J. ADAMS President/Director Salary 10,961.54 3,245.22 [2]
- -----------------------------------------------------------------------------------------------------
RONALD J. ADAMS President/Director Auto Allowance 923.08 --
- -----------------------------------------------------------------------------------------------------
RONALD J. ADAMS President/Director Life Insurance 2,191.80 --
- -----------------------------------------------------------------------------------------------------
7TEPHEN M. ADAMS V.P.-Prod. Salary 11,000.00 --
- -----------------------------------------------------------------------------------------------------
BURTON R. CHASNOV Exec. V.P./C.F.O. Salary 15,117.19 --
- -----------------------------------------------------------------------------------------------------
BURTON R. CHASNOV Exec. V.P./C.F.O. Auto Benefit 1,546.24 --
- -----------------------------------------------------------------------------------------------------
BURTON R. CHASNOV Exec. V.P./C.F.O. Rent 3,649.24 --
- -----------------------------------------------------------------------------------------------------
R & H PARTNERS N/A Rent 5,512.00 --
- -----------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------
Total Payments to Insiders $ 71,019.17
- -----------------------------------------------------------------------------------------------------
</TABLE>
[1] Represents 10% salary deferral beginning on December 15, 1997.
[2] Represents 5% salary deferral beginning on December 15, 1997.
<PAGE>
LIST OF OMITTED SCHEDULES
1. Schedule of Cash Collateral of Mellon Bank Account Other Cash Receipts for
the Period April 1, 1998 to April 30, 1998 (Account Number 2-703-791) [4(a)(1)]
2. Schedule of Mellon Bank Account Other Cash Receipts for the Period April 1,
1998 to April 30, 1998 (Account Number 2-953-131) [4(b)(1)]
3. Schedules of Mellon Bank Account Cash Disbursements for the Period April 1,
1998 to April 30, 1998 (Account Number 2-953-131):
Auburndale - 4(b)(2)
Apopka - 4(b)(3)
California - 4(b)(4)
Acworth - 4(b)(5)
Jacksonville - 4(b)(6)
Houston - 4(b)(7)
Lakeland - 4(b)(8)
Chicago - 4(b)(9)
Corporate - 4(b)(10)
Wires & Bank Debit - 4(b)(11)
4. Schedule of Huntington Bank Payroll Account Voided Check as of April 30, 1998
(Account Number 1603427364) [4(f)(1)]
5. Schedule of Huntington Bank Payroll Account Cash Disbursements for the Period
April 1, 1998 to April 30, 1998 (Account Number 1603427364) [4(f)(2)]
6. Schedule of Suntrust Bank Other Receipts for the Period April 1, 1998 to
April 30, 1998 (Account Number 0526001124765) [4(j)(1)]
7. Schedules of Accounts Receivable Aging, Post Petition Accounts Payable Aging,
and Status of Post Petition Taxes as of April 30, 1998 [5]
8. Schedule of all Operating Bank Account Reconciliations and Cash on Hand as of
April 30, 1998 [6(a) to 6(c)]
9. Schedule of Cash Collateral of Mellon Bank Account Reconciling Item as of
April 30, 1998 (Account Number 2-703-791) [6(d)]
10. Schedule of Mellon Bank Account Reconciling Item as of April 30, 1998
(Account Number 2-953-131) [6(e)]
11. Schedule of Mellon Bank Account Last Checks Written as of April 30, 1998
(Account Number 2-953-131) [6(f)]
12. Questionnaire and Insurance Information [8]
13. Personnel Headcount Activity [9]
Page 1 of 2
<PAGE>
LIST OF OMITTED SCHEDULES
14. Mellon Bank Statement of Account for the period March 31, 1998 to April 30,
1998 (Account Number 2-703-791)
15. Mellon Bank Statement of Account for the period March 31, 1998 to April 30,
1998 (Account Number 2-953-131)
16. Merrill Lynch Bank Statement of Account for the period April 1, 1998 to
April 30, 1998 (Account Number 64A-07644)
17. Great Western Bank Statement of Account for the period April 1, 1998 to
April 30, 1998 (Account Number 446-818297-7)
18. NationsBank Statement of Account for the period April 1, 1998 to April 30,
1998 (Account Number 010-333-0164)
19. Huntington National Bank Statement of Account for the period April 1, 1998
to April 30, 1998 (Account Number 1603427364)
20. SunTrust Bank Statement of Account for the period April 1, 1998 to April 30,
1998 (Account Number 0288008734682)
21. SunTrust Bank Statement of Account for the period April 1, 1998 to April 30,
1998 (Account Number 0710629932410)
22. SunTrust Bank Statement of Account for the period April 1, 1998 to April 30,
1998 (Account Number 0526001124765)
23. Correspondence from Automatic Data Processing confirming electronic debits
of payroll tax deposits
Page 2 of 2
