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):
August 14, 1998 (May 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 May 31, 1998 and (ii) for the month ending June 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 May 31, 1998. (1)
99.2 Monthly Operating Report of Consolidated Stainless, Inc. for
the month ended June 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: August 14, 1998 By: /s/ Ronald J. Adams
-------------------
Ronald J. Adams,
Chairman of the Board
Co-Chief Executive Officer
3
<PAGE>
EXHIBIT INDEX
Exhibit Number Description
- -------------- -----------
99.1 Monthly Operating Report of Consolidated
Stainless, Inc. for the month ended May 31,
1998.
99.2 Monthly Operating Report of Consolidated
Stainless, Inc. for the month ended June 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 May 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 PERPARER (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 June 16, 1998
- ----------------------------------- -----------------------------------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
/s/ Daniel A. Rashy Controller
- ----------------------------------- -----------------------------------------
SIGNATURE OF PREPARER TITLE
Daniel A. Rashy June 16, 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 2ND QUARTER
-------------
<TABLE>
<CAPTION>
=========================================================================================================
ASSETS MONTH MONTH MONTH
---------------------------------------------
SCHEDULE APR 1998 MAY 1998
- ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH 38,018 42,104
- ---------------------------------------------------------------------------------------------------------
2. ACCOUNTS RECEIVABLE (NET) 3,718,433 3,277,416
- ---------------------------------------------------------------------------------------------------------
3. INVENTORY 13,532,703 12,844,976
- ---------------------------------------------------------------------------------------------------------
4. NOTES RECEIVABLE 263,335 265,671
- ---------------------------------------------------------------------------------------------------------
5. PREPAID EXPENSES* 269,606 167,073
- ---------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) 2(a) 495,066 500,050
- ---------------------------------------------------------------------------------------------------------
7. TOTAL CURRENT ASSETS 18,317,161 17,097,290
=========================================================================================================
8. PROPERTY, PLANT & EQUIPMENT 20,103,179 20,084,710
- ---------------------------------------------------------------------------------------------------------
9. LESS: ACCUMULATED
DEPRECIATION / DEPLETION 5,525,757 5,638,110
- ---------------------------------------------------------------------------------------------------------
10. NET PROPERTY, PLANT & EQUIPMENT 14,577,422 14,446,600
=========================================================================================================
11. DUE FROM AFFILIATES & INSIDERS 49,023 49,182
- ---------------------------------------------------------------------------------------------------------
12. INTANGIBLES (ATTACH LIST) - -
- ---------------------------------------------------------------------------------------------------------
13. OTHER (ATTACH LIST) 2(b) 258,291 245,412
- ---------------------------------------------------------------------------------------------------------
14. TOTAL ASSETS 33,201,897 31,838,484
- ---------------------------------------------------------------------------------------------------------
POSTPETITION LIABILITIES
- ---------------------------------------------------------------------------------------------------------
15. ACCOUNTS PAYABLE 172,541 137,855
- ---------------------------------------------------------------------------------------------------------
16. TAXES PAYABLE 138,929 159,040
- ---------------------------------------------------------------------------------------------------------
17. NOTES PAYABLE - -
- ---------------------------------------------------------------------------------------------------------
18. PROFESSIONAL FEES 574,379 621,768
- ---------------------------------------------------------------------------------------------------------
19. SECURED DEBT 6,773,661 7,829,105
- ---------------------------------------------------------------------------------------------------------
20. DUE TO AFFILIATES & INSIDERS - -
- ---------------------------------------------------------------------------------------------------------
21. OTHER (ATTACH LIST) 2(c) 830,283 1,084,535
- ---------------------------------------------------------------------------------------------------------
22. TOTAL POSTPETITION LIABILITIES 8,489,793 9,832,303
=========================================================================================================
PREPETITION LIABILITIES
- ---------------------------------------------------------------------------------------------------------
23. SECURED DEBT 14,690,039 12,853,650
- ---------------------------------------------------------------------------------------------------------
24. PRIORITY DEBT 673,134 679,001
- ---------------------------------------------------------------------------------------------------------
25. UNSECURED DEBT 10,145,949 10,144,555
=========================================================================================================
26. OTHER (ATTACH LIST) 2(d) 550,413 544,546
- ---------------------------------------------------------------------------------------------------------
27. TOTAL PREPETITION LIABILITIES 26,059,535 24,221,752
=========================================================================================================
28. TOTAL LIABILITIES 34,549,328 34,054,055
=========================================================================================================
EQUITY
- ---------------------------------------------------------------------------------------------------------
29. OWNERS' PREPETITION EQUITY 2,153,841 2,153,841
=========================================================================================================
30. POSTPETITION CUMULATIVE
PROFIT OR (LOSS) (3,501,272) (4,369,412)
=========================================================================================================
31. TOTAL EQUITY (DEFICIT) (1,347,431) (2,215,571)
=========================================================================================================
32. TOTAL LIABILITIES & OWNERS' EQUITY 33,201,897 31,838,484
=========================================================================================================
</TABLE>
* Of this amount $225,430 and $90,226 represent prepaid inventory for April 1998
and May 1998, respectively.
<PAGE>
CONSOLIDATED STAINLESS, INC. OTHER CURRENT ASSETS ACCRUAL BASIS-2(a)
Case No.: 97-02593JJF 2ND QUARTER
-------------
================================================================================
MONTH MONTH MONTH
---------------------------------------
APR 1998 MAY 1998
- --------------------------------------------------------------------------------
OTHER RECEIVABLES 97,024 102,008
- --------------------------------------------------------------------------------
DEFERRED FINANCING COSTS (NET) - -
- --------------------------------------------------------------------------------
DEFERRED INCOME TAXES 398,042 398,042
- --------------------------------------------------------------------------------
TOTAL OTHER CURRENT ASSETS 495,066 500,050
================================================================================
<PAGE>
CONSOLIDATED STAINLESS, INC. OTHER ASSETS ACCRUAL BASIS-2(b)
Case No.: 97-02593JJF 2ND QUARTER
-------------
================================================================================
MONTH MONTH MONTH
-----------------------------------
APR 1998 MAY 1998
- --------------------------------------------------------------------------------
SECURITY & MISCELLANEOUS DEPOSITS 80,793 80,618
- --------------------------------------------------------------------------------
RETAINER - SAUL, EWING, REMICK, & SAUL, LLP 72,073 59,369
- --------------------------------------------------------------------------------
RETAINER - GREENBERG, TRAURIG, HOFFMAN
LIPOFF, ROSEN & QUENTEL, PA 45,425 45,425
- --------------------------------------------------------------------------------
RETAINER - BDO SEIDMAN, LLP 25,000 25,000
- --------------------------------------------------------------------------------
RETAINER - GLICKSTEIN, LAVAL, CARRIS,
LEVITT, LOOMIS & DANTUMA, PA 10,000 10,000
- --------------------------------------------------------------------------------
RETAINER - SLUSSER ASSOCIATES 12,500 12,500
- --------------------------------------------------------------------------------
RETAINER - GENESIS MERCHANT GROUP
SECURITIES, LLC 12,500 12,500
- --------------------------------------------------------------------------------
TOTAL OTHER ASSETS 258,291 245,412
================================================================================
<PAGE>
CONSOLIDATED STAINLESS, INC. OTHER POSTPETITION LIABILITIES ACCRUAL BASIS-2(c)
Case No.: 97-02593JJF 2ND QUARTER
-------------
================================================================================
MONTH MONTH MONTH
---------------------------------------
APR 1998 MAY 1998
- --------------------------------------------------------------------------------
BOOK OVERDRAFT 104,270 242,588
- --------------------------------------------------------------------------------
ACCRUED PAYROLL AND RELATED TAXES 159,784 177,551
- --------------------------------------------------------------------------------
ACCRUED INTEREST PAYABLE * 546,986 644,703
- --------------------------------------------------------------------------------
ACCRUED EXPENSES - OTHER 19,243 19,693
- --------------------------------------------------------------------------------
TOTAL OTHER POSTPETITION LIABILITIES 830,283 1,084,535
================================================================================
* Interest has been accrued for accounting purposes only.
<PAGE>
CONSOLIDATED STAINLESS, INC. OTHER PREPETITION LIABILITIES ACCRUAL BASIS-2(d)
Case No.: 97-02593JJF 2ND QUARTER
-------------
================================================================================
MONTH MONTH MONTH
--------------------------------------
APR 1998 MAY 1998
- --------------------------------------------------------------------------------
PROPERTY TAX ACCRUAL 17,655 11,788
- --------------------------------------------------------------------------------
OTHER TAXES PAYABLE 14,561 14,561
- --------------------------------------------------------------------------------
ACCRUED EXPENSES - OTHER 40,967 40,967
- --------------------------------------------------------------------------------
DEFERRED CREDIT 35,730 35,730
- --------------------------------------------------------------------------------
RESERVE FOR LITIGATION 30,500 30,500
- --------------------------------------------------------------------------------
MISCELLANEOUS PAYABLES 12,958 12,958
- --------------------------------------------------------------------------------
DEFERRED INCOME TAXES 398,042 398,042
- --------------------------------------------------------------------------------
TOTAL OTHER PREPETITION LIABILITIES 550,413 544,546
================================================================================
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-3
COMPARATIVE STATEMENTS OF OPERATIONS
Case No.: 97-02593JJF 2ND QUARTER
-------------
<TABLE>
<CAPTION>
====================================================================================================
REVENUES MONTH MONTH MONTH
-------------------------------------------
COMMENTS APR 1998 MAY 1998
- ----------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. GROSS REVENUES 1,973,037 1,470,943
- ----------------------------------------------------------------------------------------------------
2. LESS: RETURNS & DISCOUNTS (51,631) (138,695)
====================================================================================================
3. NET REVENUE 1,921,406 1,332,248
- ----------------------------------------------------------------------------------------------------
COST OF GOODS SOLD
- ----------------------------------------------------------------------------------------------------
4. BEGINNING INVENTORY 14,734,878 13,532,703
- ----------------------------------------------------------------------------------------------------
5. ADD: PURCHASES & CAPITALIZED OVERHEAD 440,190 396,337
- ----------------------------------------------------------------------------------------------------
6. LESS: ENDING INVENTORY 13,532,703 12,844,976
- ----------------------------------------------------------------------------------------------------
7. COST OF GOODS SOLD 1,642,365 1,084,064
====================================================================================================
8. GROSS PROFIT 279,041 248,184
- ----------------------------------------------------------------------------------------------------
OPERATING EXPENSES
- ----------------------------------------------------------------------------------------------------
9. OFFICER / INSIDER COMPENSATION 70,058 57,365
- ----------------------------------------------------------------------------------------------------
10. DIRECT LABOR / SALARIES 276,285 243,794
- ----------------------------------------------------------------------------------------------------
11. PAYROLL TAXES 27,027 22,261
- ----------------------------------------------------------------------------------------------------
12. RENT & LEASE EXPENSE [1] 25,981 13,967
- ----------------------------------------------------------------------------------------------------
13. INSURANCE 52,998 47,452
- ----------------------------------------------------------------------------------------------------
14. DEPRECIATION / DEPLETION / AMORTIZATION 124,371 130,821
- ----------------------------------------------------------------------------------------------------
15. GENERAL & ADMINISTRATIVE 56,491 121,236
====================================================================================================
16. LESS: CAPITALIZED OVERHEAD (194,395) (221,983)
====================================================================================================
17. TOTAL OPERATING EXPENSES 438,816 414,913
====================================================================================================
18. OPERATING INCOME (LOSS) (159,775) (166,729)
- ----------------------------------------------------------------------------------------------------
OTHER INCOME & EXPENSES
- ----------------------------------------------------------------------------------------------------
19. INTEREST INCOME (2,753) (2,919)
- ----------------------------------------------------------------------------------------------------
20. OTHER EXPENSES (ATTACH LIST) - -
- ----------------------------------------------------------------------------------------------------
21. INTEREST EXPENSE 215,940 211,992
- ----------------------------------------------------------------------------------------------------
22. OTHER (ATTACH LIST) (586) (811)
- ----------------------------------------------------------------------------------------------------
23. NET OTHER INCOME & EXPENSES 212,601 208,262
====================================================================================================
REORGANIZATION EXPENSES
- ----------------------------------------------------------------------------------------------------
24. PROFESSIONAL FEES 249,589 191,719
- ----------------------------------------------------------------------------------------------------
25. U.S. TRUSTEE FEES (166) 10,583
- ----------------------------------------------------------------------------------------------------
26. OTHER (ATTACH LIST) Page 3(a) 159,432 289,583
====================================================================================================
27. TOTAL REORGANIZATION EXPENSES 408,855 491,885
- ----------------------------------------------------------------------------------------------------
28. INCOME TAX 800 1,264
====================================================================================================
29. NET PROFIT (LOSS) (782,031) (868,140)
====================================================================================================
</TABLE>
[1] Includes $9,161 and $9,084 of rent expense from facilities leased from
insiders for April 1998 and May 1998, respectively.
<PAGE>
CONSOLIDATED STAINLESS, INC. OTHER REORGANIZATION COSTS ACCRUAL BASIS-3(a)
Case No.: 97-02593JJF 2ND QUARTER
-------------
================================================================================
MONTH MONTH MONTH
--------------------------------------
APR 1998 MAY 1998
- --------------------------------------------------------------------------------
TRAVEL 1,725 2,665
- --------------------------------------------------------------------------------
RESTRUCTURING COSTS 124,387 263,330
- --------------------------------------------------------------------------------
RELOCATION COSTS 33,320 23,479
- --------------------------------------------------------------------------------
GENERAL ADMINISTRATIVE COSTS - 109
- --------------------------------------------------------------------------------
TOTAL OTHER REORGANIZATION COSTS 159,432 289,583
================================================================================
<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 MAY 1998
- ------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 47,222.12 30,252.62
- ------------------------------------------------------------------------------------------
RECEIPTS
- ------------------------------------------------------------------------------------------
2. CASH SALES - -
- ------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE 2,302,139.72 1,796,447.57
- ------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) - -
- ------------------------------------------------------------------------------------------
5. SALE OF ASSETS - -
- ------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) 39,457.40 29,672.54
==========================================================================================
7. TOTAL RECEIPTS - 2,341,597.12 1,826,120.11
==========================================================================================
8. TOTAL CASH AVAILABLE - 2,388,819.24 1,856,372.73
==========================================================================================
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Revolving Line of Credit Pay Downs 1,824,060.57
- ------------------------------------------------------------------------------------------
5/15/98 Credit Card Merchant Fees 84.99
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
===========-----------------------------------------------------------------==============
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 1,824,145.56
==============
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 32,227.17
==========================================================================================
</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 MAY 1998
- ------------------------------------------------------------------------------------------
<S> <C> <C> <C>
- ------------------------------------------------------------------------------------------
1. CASH - BEGINNING OF MONTH (178,895.54) (104,269.63)
- ------------------------------------------------------------------------------------------
RECEIPTS
- ------------------------------------------------------------------------------------------
2. CASH SALES - -
- ------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE - -
- ------------------------------------------------------------------------------------------
4. REVOLVER ADVANCES 1,428,218.10 1,055,444.84
- ------------------------------------------------------------------------------------------
5. OTHER (ATTACH LIST) 38,903.73 -
- ------------------------------------------------------------------------------------------
6. ADJUSTMENT TO RECONCILE - -
==========================================================================================
7. TOTAL RECEIPTS - 1,467,121.83 1,055,444.84
==========================================================================================
8. TOTAL CASH AVAILABLE - 1,288,226.29 951,175.21
==========================================================================================
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Auburndale (See Attached List) 4(b)(1) 71,787.19
- ------------------------------------------------------------------------------------------
Apopka (See Attached List) 4(b)(2) 17,091.60
- ------------------------------------------------------------------------------------------
California (See Attached List) 4(b)(3) 10,160.06
- ------------------------------------------------------------------------------------------
Acworth (See Attached List) 4(b)(4) 4,009.69
- ------------------------------------------------------------------------------------------
Jacksonville (See Attached List) 4(b)(5) 49,849.76
- ------------------------------------------------------------------------------------------
Lakeland (See Attached List) 4(b)(6) 23,390.94
- ------------------------------------------------------------------------------------------
Chicago (See Attached List) 4(b)(7) 23,855.37
- ------------------------------------------------------------------------------------------
Corporate (See Attached List) 4(b)(8) 422,547.66
- ------------------------------------------------------------------------------------------
Wires & Bank Debits (See Attached List) 4(b)(9) 572,043.20
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
5/27/98 Void Check # 10502350 (written 1/19/98) (972.32)
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
============----------------------------------------------------------------==============
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 1,193,763.15
==============
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) (242,587.94)
==========================================================================================
</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)
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 MAY 1998
- --------------------------------------------------------------------------------
1. CASH - BEGINNING OF MONTH 40.06 40.32
- --------------------------------------------------------------------------------
RECEIPTS
- --------------------------------------------------------------------------------
2. CASH SALES -- --
- --------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE -- --
- --------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) -- --
- --------------------------------------------------------------------------------
5. SALE OF ASSETS -- --
- --------------------------------------------------------------------------------
6. INTEREST INCOME 0.26 0.24
================================================================================
7. TOTAL RECEIPTS -- 0.26 0.24
================================================================================
8. TOTAL CASH AVAILABLE -- 40.32 40.56
================================================================================
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) 40.56
================================================================================
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 MAY 1998
- ------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 140.08 111.88
- ------------------------------------------------------------------------------------------
RECEIPTS
- ------------------------------------------------------------------------------------------
2. CASH SALES - 31.95
- ------------------------------------------------------------------------------------------
3. DEPOSIT PETTY CASH CHECK - 411.48
- ------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) - -
- ------------------------------------------------------------------------------------------
5. SALE OF ASSETS - -
- ------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) - -
==========================================================================================
7. TOTAL RECEIPTS - - 443.43
==========================================================================================
8. TOTAL CASH AVAILABLE - 140.08 555.31
==========================================================================================
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
2007 5/12/98 Consolidated Stainless, Inc. Transfer Dep. 31.95
- ------------------------------------------------------------------------------------------
5/12/98 Withdrawal for Petty Cash 200.00
- ------------------------------------------------------------------------------------------
5/30/98 Monthly Service Charge 8.20
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
============----------------------------------------------------------------==============
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 240.15
==============
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 315.16
==========================================================================================
</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 MAY 1998
- ------------------------------------------------------------------------------------------
<S> <C> <C> <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 - - -
==========================================================================================
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ------------------------------------------------------------------------------------------
<S> <C> <C> <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(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 MAY 1998
- ------------------------------------------------------------------------------------------
<S> <C> <C> <C>
- ------------------------------------------------------------------------------------------
1. CASH - BEGINNING OF MONTH 76.24 109.81
- ------------------------------------------------------------------------------------------
RECEIPTS
- ------------------------------------------------------------------------------------------
2. CASH SALES - -
- ------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE - -
- ------------------------------------------------------------------------------------------
4. DEPOSITS 227,769.32 205,200.00
- ------------------------------------------------------------------------------------------
5. SALE OF ASSETS - -
- ------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) 532.25 2,320.16
==========================================================================================
7. TOTAL RECEIPTS - 228,301.57 207,520.16
==========================================================================================
8. TOTAL CASH AVAILABLE - 228,377.81 207,629.97
==========================================================================================
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------
See Attached 205,117.28
- ------------------------------------------------------------------------------------------
5/15/98 Service Charge 19.00
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
============----------------------------------------------------------------==============
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 205,136.28
==============
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 2,493.69
==========================================================================================
</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 MAY 1998
- ------------------------------------------------------------------------------------------
<S> <C> <C> <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 -
==========================================================================================
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ------------------------------------------------------------------------------------------
<S> <C> <C> <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(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 MAY 1998
- ------------------------------------------------------------------------------------------
<S> <C> <C> <C>
- ------------------------------------------------------------------------------------------
1. CASH - BEGINNING OF MONTH 1,595.98 1,280.98
- ------------------------------------------------------------------------------------------
RECEIPTS
- ------------------------------------------------------------------------------------------
2. CASH SALES - -
- ------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE 185.13 276.04
- ------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) - -
- ------------------------------------------------------------------------------------------
5. SALE OF ASSETS - -
- ------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) - -
==========================================================================================
7. TOTAL RECEIPTS - 185.13 276.04
==========================================================================================
8.TOTAL CASH AVAILABLE - 1,781.11 1,557.02
==========================================================================================
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------
1006 5/22/98 Consolidated Stainless, Inc. Transfer Dep 276.04
- ------------------------------------------------------------------------------------------
5/29/98 Service Charge 15.00
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
============----------------------------------------------------------------==============
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 291.04
==============
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 1,265.98
==========================================================================================
</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 MAY 1998
- ------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 292.15 279.59
- ------------------------------------------------------------------------------------------
RECEIPTS
- ------------------------------------------------------------------------------------------
2. CASH SALES - -
- ------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE - 650.73
- ------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) - -
- ------------------------------------------------------------------------------------------
5. SALE OF ASSETS - -
- ------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) - 30.00
==========================================================================================
7. TOTAL RECEIPTS - - 680.73
==========================================================================================
8. TOTAL CASH AVAILABLE - 292.15 960.32
==========================================================================================
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------
8 5/6/98 Consolidated Stainless, Inc. Transfer Dep 637.68
- ------------------------------------------------------------------------------------------
9 5/11/98 Consolidated Stainless, Inc. Transfer Dep 7.05
- ------------------------------------------------------------------------------------------
5/29/98 Service Charge 13.64
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
============----------------------------------------------------------------==============
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 658.37
==============
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 301.95
==========================================================================================
</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 MAY 1998
- ------------------------------------------------------------------------------------------
<S> <C> <C> <C>
- ------------------------------------------------------------------------------------------
1. CASH - BEGINNING OF MONTH (4.96) 512.60
- ------------------------------------------------------------------------------------------
RECEIPTS
- ------------------------------------------------------------------------------------------
2. CASH SALES - -
- ------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE 962.93 40.00
- ------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) - -
- ------------------------------------------------------------------------------------------
5. SALE OF ASSETS - -
- ------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) 9,566.40 2,253.00
==========================================================================================
7. TOTAL RECEIPTS - 10,529.33 2,293.00
==========================================================================================
8. TOTAL CASH AVAILABLE - 10,524.37 2,805.60
==========================================================================================
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------
5 5/1/98 Mellon Bank Transfer Dep 258.15
- ------------------------------------------------------------------------------------------
6 5/15/98 Mellon Bank Transfer Dep 2,293.00
- ------------------------------------------------------------------------------------------
5/29/98 Service Charge 13.34
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
============----------------------------------------------------------------==============
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 2,564.49
==============
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 241.11
==========================================================================================
</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
====================================================================================================
<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>
1. Saul, Ewing, et. al. debtor attorney [1] 50,000.00 50,000.00 250,000.00
- ---------------------------------------------------------------------------------------------------
2. Price Waterhouse, LLP creditor accountant [1] 32,400.00 32,400.00 39,022.18
- ---------------------------------------------------------------------------------------------------
3. Proskauer Rose, LLP creditor attorney [1] 25,800.00 25,800.00 50,625.93
- ---------------------------------------------------------------------------------------------------
4. Morris, James, et al creditor attorney [1] 1,800.00 1,800.00 2,775.09
- ---------------------------------------------------------------------------------------------------
5. BDO Seidman, LLP debtor accountant [1] 16,503.80 16,503.80 36,771.40
- ---------------------------------------------------------------------------------------------------
6. Total Payments to Professionals 126,503.80 126,503.80 379,194.60
====================================================================================================
<CAPTION>
====================================================================================================
ADEQUATE PROTECTION PAYMENTS
====================================================================================================
SCHEDULED AMOUNTS
MONTHLY PAID TOTAL
PAYMENTS DURING UNPAID
NAME OF CREDITOR DUE MONTH POSTPETITION
- ---------------------------------------------------------------------------------------------------
<S> <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.
<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 13,221.12 [1]
- ---------------------------------------------------------------------------------------------------
HARVEY B. ADAMS CEO/Chairman Auto Allowance 1,384.62 -
- ---------------------------------------------------------------------------------------------------
HARVEY B. ADAMS CEO/Chairman Life Insurance 1,887.30 -
- ---------------------------------------------------------------------------------------------------
RONALD J. ADAMS President/Director Salary 10,961.54 3,966.38 [2]
- ---------------------------------------------------------------------------------------------------
RONALD J. ADAMS President/Director Auto Allowance 1,384.62 -
- ---------------------------------------------------------------------------------------------------
RONALD J. ADAMS President/Director Life Insurance 2,191.80 -
- ---------------------------------------------------------------------------------------------------
STEPHEN M. ADAMS V.P.-Prod. Salary 11,000.00 -
- ---------------------------------------------------------------------------------------------------
BURTON R. CHASNOV Exec. V.P./C.F.O. Salary 3,750.00 -
- ---------------------------------------------------------------------------------------------------
BURTON R. CHASNOV Exec. V.P./C.F.O. Auto Benefit 609.08 -
- ---------------------------------------------------------------------------------------------------
BURTON R. CHASNOV Exec. V.P./C.F.O. Rent 3,571.91 -
- ---------------------------------------------------------------------------------------------------
R & H PARTNERS N/A Rent 5,512.00 -
- ---------------------------------------------------------------------------------------------------
DAVID M. BARNES Director Director Fee 500.00
- ---------------------------------------------------------------------------------------------------
Total Payments to Insiders $ 60,060.57
===================================================================================================
</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 May 1, 1998 to May 31, 1998 (Account Number 2-703-791) [4(a)(1)]
2. Schedules of Mellon Bank Account Cash Disbursements for the Period May 1,
1998 to May 31, 1998 (Account Number 2-953-131):
Auburndale - 4(b)(1)
Apopka - 4(b)(2)
California - 4(b)(3)
Acworth - 4(b)(4)
Jacksonville - 4(b)(5)
Lakeland - 4(b)(6)
Chicago - 4(b)(7)
Corporate - 4(b)(8)
Wires & Bank Debits - 4(b)(9)
3. Schedule of Huntington Bank Payroll Account Voided Check as of May 31, 1998
(Account Number 1603427364) [4(f)(1)]
4. Schedule of Huntington Bank Payroll Account Cash Disbursements for the Period
May 1, 1998 to May 31, 1998 (Account Number 1603427364) [4(f)(2)]
5. Schedule of Suntrust Bank Other Receipts for the Period May 1, 1998 to May
31, 1998 (Account Number 0710629932410) [4(i)(1)]
6. Schedule of Suntrust Bank Other Receipts for the Period May 1, 1998 to May
31, 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 May 31, 1998 [5]
8. Schedule of all Operating Bank Account Reconciliations and Cash on Hand as of
May 31, 1998 [6(a) to 6(c)]
9. Schedule of Mellon Bank Account Last Checks Written as of May 31, 1998
(Account Number 2-953-131) [6(d)]
10. Schedule of Great Western Bank Account Reconciling Item as of May 31, 1998
(Account Number 446-818297-7) [6(e)]
11. Questionnaire and Insurance Information [8]
12. Responses to Questionnaire [8(a)]
13. Personnel Headcount Activity [9]
Page 1 of 2
<PAGE>
LIST OF OMITTED SCHEDULES
14. Mellon Bank Statement of Account for the period April 30, 1998 to May 29,
1998 (Account Number 2-703-791)
15. Mellon Bank Statement of Account for the period April 30, 1998 to May 29,
1998 (Account Number 2-953-131)
16. Merrill Lynch Bank Statement of Account for the period May 1, 1998 to May
29, 1998 (Account Number 64A-07644)
17. Great Western Bank Statement of Account for the period May 1, 1998 to May
31, 1998 (Account Number 446-818297-7)
18. NationsBank Statement of Account for the period May 1, 1998 to May 31, 1998
(Account Number 010-333-0164)
19. Huntington National Bank Statement of Account for the period May 1, 1998 to
May 31, 1998 (Account Number 1603427364)
20. SunTrust Bank Statement of Account for the period May 1, 1998 to May 31,
1998 (Account Number 0288008734682)
21. SunTrust Bank Statement of Account for the period May 1, 1998 to May 31,
1998 (Account Number 0710629932410)
22. SunTrust Bank Statement of Account for the period May 1, 1998 to May 31,
1998 (Account Number 0526001124765)
23. Correspondence from Automatic Data Processing confirming electronic debits
of payroll tax deposits
Page 2 of 2
Case No.: 97-02593JJF ACCRUAL BASIS-1
OFFICE OF THE UNITED STATES TRUSTEE - REGION 3
MONTHLY OPERATING REPORT
for the month ending June 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 July 16, 1998
- ----------------------------------- -----------------------------------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
/s/ Daniel A. Rashy Controller
- ----------------------------------- -----------------------------------------
SIGNATURE OF PREPARER TITLE
Daniel A. Rashy July 16, 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 2ND QUARTER
-------------
<TABLE>
<CAPTION>
=========================================================================================================
ASSETS MONTH MONTH MONTH
---------------------------------------------
SCHEDULE APR 1998 MAY 1998 JUNE 1998
- ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------------
1. CASH 38,018 42,104 208,578
- ---------------------------------------------------------------------------------------------------------
2. ACCOUNTS RECEIVABLE (NET) 3,718,433 3,277,416 3,123,463
- ---------------------------------------------------------------------------------------------------------
3. INVENTORY 13,532,703 12,844,976 11,583,115
- ---------------------------------------------------------------------------------------------------------
4. NOTES RECEIVABLE 263,335 265,671 267,931
- ---------------------------------------------------------------------------------------------------------
5. PREPAID EXPENSES* 269,606 167,073 154,874
- ---------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) 2(a) 495,066 500,050 482,834
- ---------------------------------------------------------------------------------------------------------
7. TOTAL CURRENT ASSETS 18,317,161 17,097,290 15,820,795
=========================================================================================================
8. PROPERTY, PLANT & EQUIPMENT 20,103,179 20,084,710 20,084,710
- ---------------------------------------------------------------------------------------------------------
9. LESS: ACCUMULATED
DEPRECIATION / DEPLETION 5,525,757 5,638,110 5,762,446
- ---------------------------------------------------------------------------------------------------------
10. NET PROPERTY, PLANT & EQUIPMENT 14,577,422 14,446,600 14,322,264
=========================================================================================================
11. DUE FROM AFFILIATES & INSIDERS 49,023 49,182 49,341
- ---------------------------------------------------------------------------------------------------------
12. INTANGIBLES (ATTACH LIST) - - -
- ---------------------------------------------------------------------------------------------------------
13. OTHER (ATTACH LIST) 2(b) 258,291 245,412 189,592
- ---------------------------------------------------------------------------------------------------------
14. TOTAL ASSETS 33,201,897 31,838,484 30,381,992
=========================================================================================================
POSTPETITION LIABILITIES
- ---------------------------------------------------------------------------------------------------------
15. ACCOUNTS PAYABLE 172,541 137,855 204,420
- ---------------------------------------------------------------------------------------------------------
16. TAXES PAYABLE 138,929 159,040 152,521
- ---------------------------------------------------------------------------------------------------------
17. NOTES PAYABLE - - 12,440
- ---------------------------------------------------------------------------------------------------------
18. PROFESSIONAL FEES 574,379 621,768 753,715
- ---------------------------------------------------------------------------------------------------------
19. SECURED DEBT 6,773,661 7,829,105 8,859,837
- ---------------------------------------------------------------------------------------------------------
20. DUE TO AFFILIATES & INSIDERS - - -
- ---------------------------------------------------------------------------------------------------------
21. OTHER (ATTACH LIST) 2(c) 830,283 1,084,535 1,064,596
- ---------------------------------------------------------------------------------------------------------
22. TOTAL POSTPETITION LIABILITIES 8,489,793 9,832,303 11,047,529
=========================================================================================================
PREPETITION LIABILITIES
- ---------------------------------------------------------------------------------------------------------
23. SECURED DEBT 14,690,039 12,853,650 11,110,300
- ---------------------------------------------------------------------------------------------------------
24. PRIORITY DEBT 673,134 679,001 708,958
=========================================================================================================
25. UNSECURED DEBT 10,145,949 10,144,555 10,144,555
- ---------------------------------------------------------------------------------------------------------
26. OTHER (ATTACH LIST) 2(d) 550,413 544,546 544,546
- ---------------------------------------------------------------------------------------------------------
27. TOTAL PREPETITION LIABILITIES 26,059,535 24,221,752 22,508,359
=========================================================================================================
28. TOTAL LIABILITIES 34,549,328 34,054,055 33,555,888
=========================================================================================================
EQUITY
- ---------------------------------------------------------------------------------------------------------
29. OWNERS' PREPETITION EQUITY 2,153,841 2,153,841 2,153,841
=========================================================================================================
30. POSTPETITION CUMULATIVE
PROFIT OR (LOSS) (3,501,272) (4,369,412) (5,327,737)
=========================================================================================================
31. TOTAL EQUITY (DEFICIT) (1,347,431) (2,215,571) (3,173,896)
=========================================================================================================
32. TOTAL LIABILITIES & OWNERS' EQUITY 33,201,897 31,838,484 30,381,992
=========================================================================================================
</TABLE>
* Of this amount $225,430, $90,226 and $88,144 represent prepaid inventory for
April, May and June 1998, respectively.
<PAGE>
CONSOLIDATED STAINLESS, INC. OTHER CURRENT ASSETS ACCRUAL BASIS-2(a)
Case No.: 97-02593JJF 2ND QUARTER
-------------
================================================================================
MONTH MONTH MONTH
---------------------------------------
APR 1998 MAY 1998 JUNE 1998
- --------------------------------------------------------------------------------
OTHER RECEIVABLES 97,024 102,008 84,792
- -------------------------------------------------------------------------------
DEFERRED FINANCING COSTS (NET) - - -
- -------------------------------------------------------------------------------
DEFERRED INCOME TAXES 398,042 398,042 398,042
- -------------------------------------------------------------------------------
TOTAL OTHER CURRENT ASSETS 495,066 500,050 482,834
================================================================================
<PAGE>
CONSOLIDATED STAINLESS, INC. OTHER ASSETS ACCRUAL BASIS-2(b)
Case No.: 97-02593JJF 2ND QUARTER
-------------
================================================================================
MONTH MONTH MONTH
-----------------------------------
APR 1998 MAY 1998 JUNE 1998
- --------------------------------------------------------------------------------
SECURITY & MISCELLANEOUS DEPOSITS 80,793 80,618 71,667
- --------------------------------------------------------------------------------
RETAINER - SAUL, EWING, REMICK, & SAUL, LLP 72,073 59,369 -
- --------------------------------------------------------------------------------
RETAINER - GREENBERG, TRAURIG, HOFFMAN
LIPOFF, ROSEN & QUENTEL, PA 45,425 45,425 45,425
- --------------------------------------------------------------------------------
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 12,500
- --------------------------------------------------------------------------------
RETAINER - GENESIS MERCHANT GROUP
SECURITIES, LLC 12,500 12,500 12,500
- --------------------------------------------------------------------------------
RETAINER - PHOENIX MANAGEMENT SERVICES - - 12,500
- --------------------------------------------------------------------------------
TOTAL OTHER ASSETS 258,291 245,412 189,592
================================================================================
<PAGE>
CONSOLIDATED STAINLESS, INC. OTHER POSTPETITION LIABILITIES ACCRUAL BASIS-2(c)
Case No.: 97-02593JJF 2ND QUARTER
-------------
================================================================================
MONTH MONTH MONTH
---------------------------------------
APR 1998 MAY 1998 JUNE 1998
- --------------------------------------------------------------------------------
BOOK OVERDRAFT 104,270 242,588 105,794
- --------------------------------------------------------------------------------
ACCRUED PAYROLL AND RELATED TAXES 159,784 177,551 204,912
- --------------------------------------------------------------------------------
ACCRUED INTEREST PAYABLE * 546,986 644,703 734,536
- --------------------------------------------------------------------------------
ACCRUED EXPENSES - OTHER 19,243 19,693 19,354
- --------------------------------------------------------------------------------
TOTAL OTHER POSTPETITION LIABILITIES 830,283 1,084,535 1,064,596
================================================================================
* Interest has been accrued for accounting purposes only.
<PAGE>
CONSOLIDATED STAINLESS, INC. OTHER PREPETITION LIABILITIES ACCRUAL BASIS-2(d)
Case No.: 97-02593JJF 2ND QUARTER
-------------
================================================================================
MONTH MONTH MONTH
--------------------------------------
APR 1998 MAY 1998 JUNE 1998
- --------------------------------------------------------------------------------
PROPERTY TAX ACCRUAL 17,655 11,788 11,788
- --------------------------------------------------------------------------------
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 12,958 12,958 12,958
- --------------------------------------------------------------------------------
DEFERRED INCOME TAXES 398,042 398,042 398,042
- --------------------------------------------------------------------------------
TOTAL OTHER PREPETITION LIABILITIES 550,413 544,546 544,546
================================================================================
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-3
COMPARATIVE STATEMENTS OF OPERATIONS
Case No.: 97-02593JJF 2ND QUARTER
-------------
<TABLE>
<CAPTION>
====================================================================================================
REVENUES MONTH MONTH MONTH
-------------------------------------------
COMMENTS APR 1998 MAY 1998 JUNE 1998
- ----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------
1. GROSS REVENUES 1,973,037 1,470,943 1,658,438
- ----------------------------------------------------------------------------------------------------
2. LESS: RETURNS & DISCOUNTS (51,631) (138,695) (31,712)
====================================================================================================
3. NET REVENUE 1,921,406 1,332,248 1,626,726
- ----------------------------------------------------------------------------------------------------
COST OF GOODS SOLD
- ----------------------------------------------------------------------------------------------------
4. BEGINNING INVENTORY 14,734,878 13,532,703 12,844,976
- ----------------------------------------------------------------------------------------------------
5. ADD: PURCHASES & CAPITALIZED OVERHEAD 440,190 396,337 194,124
- ----------------------------------------------------------------------------------------------------
6. LESS: ENDING INVENTORY 13,532,703 12,844,976 11,583,115
- ----------------------------------------------------------------------------------------------------
7. COST OF GOODS SOLD 1,642,365 1,084,064 1,455,985
====================================================================================================
8. GROSS PROFIT 279,041 248,184 170,741
- ----------------------------------------------------------------------------------------------------
OPERATING EXPENSES
- ----------------------------------------------------------------------------------------------------
9. OFFICER / INSIDER COMPENSATION 70,058 57,365 52,006
- ----------------------------------------------------------------------------------------------------
10. DIRECT LABOR / SALARIES 276,285 243,794 259,778
- ----------------------------------------------------------------------------------------------------
11. PAYROLL TAXES 27,027 22,261 20,838
- ----------------------------------------------------------------------------------------------------
12. RENT & LEASE EXPENSE [1] 25,981 13,967 13,941
- ----------------------------------------------------------------------------------------------------
13. INSURANCE 52,998 47,452 40,663
- ----------------------------------------------------------------------------------------------------
14. DEPRECIATION / DEPLETION / AMORTIZATION 124,371 130,821 124,336
- ----------------------------------------------------------------------------------------------------
15. GENERAL & ADMINISTRATIVE 56,491 121,236 64,755
- ----------------------------------------------------------------------------------------------------
16. LESS: CAPITALIZED OVERHEAD (194,395) (221,983) (179,399)
====================================================================================================
17. TOTAL OPERATING EXPENSES 438,816 414,913 396,918
====================================================================================================
18. OPERATING INCOME (LOSS) (159,775) (166,729) (226,177)
- ----------------------------------------------------------------------------------------------------
OTHER INCOME & EXPENSES
- ----------------------------------------------------------------------------------------------------
19. INTEREST INCOME (2,753) (2,919) (3,098)
- ----------------------------------------------------------------------------------------------------
20. OTHER EXPENSES (ATTACH LIST) - - -
- ----------------------------------------------------------------------------------------------------
21. INTEREST EXPENSE 215,940 211,992 200,720
- ----------------------------------------------------------------------------------------------------
22. OTHER (ATTACH LIST) (586) (811) (896)
- ----------------------------------------------------------------------------------------------------
23. NET OTHER INCOME & EXPENSES 212,601 208,262 196,726
====================================================================================================
REORGANIZATION EXPENSES
- ----------------------------------------------------------------------------------------------------
24. PROFESSIONAL FEES 249,589 191,719 202,487
- ----------------------------------------------------------------------------------------------------
25. U.S. TRUSTEE FEES (166) 10,583 3,333
- ----------------------------------------------------------------------------------------------------
26. OTHER (ATTACH LIST) Page 3(a) 159,432 289,583 329,602
====================================================================================================
27. TOTAL REORGANIZATION EXPENSES 408,855 491,885 535,422
- ----------------------------------------------------------------------------------------------------
28. INCOME TAX 800 1,264 -
====================================================================================================
29. NET PROFIT (LOSS) (782,031) (868,140) (958,325)
====================================================================================================
</TABLE>
[1] Includes $9,161, $9,084 and $9,133 of rent expense from facilities leased
from insiders for April, May and June, 1998, respectively.
<PAGE>
CONSOLIDATED STAINLESS, INC. OTHER REORGANIZATION COSTS ACCRUAL BASIS-3(a)
Case No.: 97-02593JJF 2ND QUARTER
-------------
================================================================================
MONTH MONTH MONTH
--------------------------------------
APR 1998 MAY 1998 JUNE 1998
- --------------------------------------------------------------------------------
TRAVEL 1,725 2,665 6,755
- --------------------------------------------------------------------------------
RESTRUCTURING COSTS 124,387 263,330 311,198
- --------------------------------------------------------------------------------
RELOCATION COSTS 33,320 23,479 11,649
- --------------------------------------------------------------------------------
GENERAL ADMINISTRATIVE COSTS - 109 -
- --------------------------------------------------------------------------------
TOTAL OTHER REORGANIZATION COSTS 159,432 289,583 329,602
================================================================================
<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 MAY 1998 JUNE 1998
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 47,222.12 30,252.62 32,227.17
- -------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------
2. CASH SALES - - -
- -------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE 2,302,139.72 1,796,447.57 1,785,428.97
- -------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) - - -
- -------------------------------------------------------------------------------------------------
5. SALE OF ASSETS - - -
- -------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) 39,457.40 29,672.54 21,837.62
- -------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 2,341,597.12 1,826,120.11 1,807,266.59
=================================================================================================
8. TOTAL CASH AVAILABLE 2,388,819.24 1,856,372.73 1,839,493.76
=================================================================================================
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Revolving Line of Credit Pay Downs 1,648,021.93
- -------------------------------------------------------------------------------------------------
6/15/98 Credit Card Merchant Fees 90.32
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
===========-----------------------------------------------------------------------===============
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 1,648,112.25
===============
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 191,381.51
=================================================================================================
</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 MAY 1998 JUNE 1998
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH (178,895.54) (104,269.63) (242,587.94)
- -------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------
2. CASH SALES - - -
- -------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE - - -
- -------------------------------------------------------------------------------------------------
4. REVOLVER ADVANCES 1,428,218.10 1,055,444.84 1,030,732.05
- -------------------------------------------------------------------------------------------------
5. OTHER (ATTACH LIST) 38,903.73 - -
- -------------------------------------------------------------------------------------------------
6. ADJUSTMENT TO RECONCILE - - -
=================================================================================================
7. TOTAL RECEIPTS 1,467,121.83 1,055,444.84 1,030,732.05
=================================================================================================
8. TOTAL CASH AVAILABLE 1,288,226.29 951,175.21 788,144.11
=================================================================================================
<CAPTION>
- -------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Branch Checks (See Attached List) 4(b)(1) 363,075.70
- -------------------------------------------------------------------------------------------------
Wires & Bank Debits (See Attached List) 4(b)(2) 530,862.56
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
===========------------------------------------------------------------------------==============
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 893,938.26
==============
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) (105,794.15)
=================================================================================================
</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(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 MAY 1998 JUNE 1998
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 40.06 40.32 40.56
- -------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------
2. CASH SALES - - -
- -------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE - - -
- -------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) - - -
- -------------------------------------------------------------------------------------------------
5. SALE OF ASSETS - - -
- -------------------------------------------------------------------------------------------------
6. INTEREST INCOME 0.26 0.24 0.27
=================================================================================================
7. TOTAL RECEIPTS 0.26 0.24 0.27
=================================================================================================
8. TOTAL CASH AVAILABLE 40.32 40.56 40.83
=================================================================================================
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
- -------------------------------------------------------------------------------------------------
N/A
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
===========------------------------------------------------------------------------==============
TOTAL DISBURSEMENTS FROM BANK ACCOUNT -
==============
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 40.83
=================================================================================================
</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: Washington Mutual *
Case No.: 97-02593JJF Account No.: 872-018039-2
Account Type: Business Checking
=================================================================================================
CASH RECEIPTS AND MONTH MONTH MONTH
DISBURSEMENTS --------------------------------------------------
APR 1998 MAY 1998 JUNE 1998
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 140.08 111.88 315.16
- -------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------
2. CASH SALES - 31.95 -
- -------------------------------------------------------------------------------------------------
3. DEPOSIT PETTY CASH CHECK - 411.48 -
- -------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) - - -
- -------------------------------------------------------------------------------------------------
5. SALE OF ASSETS - - -
- -------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) - - -
=================================================================================================
7. TOTAL RECEIPTS - 443.43 -
=================================================================================================
8. TOTAL CASH AVAILABLE 140.08 555.31 315.16
=================================================================================================
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
6/30/98 Monthly Service Charge 15.00
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
===========------------------------------------------------------------------------==============
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 15.00
==============
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 300.16
=================================================================================================
</TABLE>
Complete one form for each bank account. List disbursements made by cash on a
separate form. Attach additional sheets if necessary.
* On 6/13/98 Great Western Account # 446-818297-7 changed to Washington Mutual
#872-018039-2. Notification from bank is attached with bank statement.
<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 MAY 1998 JUNE 1998
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <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 - - -
=================================================================================================
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <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(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 MAY 1998 JUNE 1998
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 76.24 109.81 2,493.69
- -------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------
2. CASH SALES - - -
- -------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE - - -
- -------------------------------------------------------------------------------------------------
4. DEPOSITS 227,769.32 205,200.00 203,200.00
- -------------------------------------------------------------------------------------------------
5. SALE OF ASSETS - - -
- -------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) 532.25 2,320.16 1,218.97
=================================================================================================
7. TOTAL RECEIPTS 228,301.57 207,520.16 204,418.97
=================================================================================================
8. TOTAL CASH AVAILABLE 228,377.81 207,629.97 206,912.66
=================================================================================================
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
See Attached 196,994.06
- -------------------------------------------------------------------------------------------------
6/15/98 Service Charge 28.50
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
===========------------------------------------------------------------------------==============
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 197,022.56
==============
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 9,890.10
=================================================================================================
</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 MAY 1998 JUNE 1998
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <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 - -
=================================================================================================
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <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(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 MAY 1998 JUNE 1998
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 1,595.98 1,280.98 1,265.98
- -------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------
2. CASH SALES - - -
- -------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE 185.13 276.04 946.84
- -------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) - - -
- -------------------------------------------------------------------------------------------------
5. SALE OF ASSETS - - -
- -------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) - - -
=================================================================================================
7. TOTAL RECEIPTS 185.13 276.04 946.84
=================================================================================================
8. TOTAL CASH AVAILABLE 1,781.11 1,557.02 2,212.82
=================================================================================================
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1007 6/18/98 Consolidated Stainless, Inc. Transfer Dep. 946.49
- -------------------------------------------------------------------------------------------------
6/30/98 Service Charge 15.00
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
===========------------------------------------------------------------------------==============
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 961.49
==============
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 1,251.33
=================================================================================================
</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 MAY 1998 JUNE 1998
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 292.15 279.59 301.95
- -------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------
2. CASH SALES - - -
- -------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE - 650.73 875.85
- -------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) - - -
- -------------------------------------------------------------------------------------------------
5. SALE OF ASSETS - - -
- -------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) - 30.00 -
=================================================================================================
7. TOTAL RECEIPTS - 680.73 875.85
=================================================================================================
8. TOTAL CASH AVAILABLE 292.15 960.32 1 ,177.80
=================================================================================================
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
10 6/1/98 Consolidated Stainless, Inc. Transfer Dep. 6.00
- -------------------------------------------------------------------------------------------------
101 6/12/98 Consolidated Stainless, Inc. Transfer Dep. 484.00
- -------------------------------------------------------------------------------------------------
102 6/12/98 Consolidated Stainless, Inc. Transfer Dep. 309.35
- -------------------------------------------------------------------------------------------------
103 6/24/98 Consolidated Stainless, Inc. Transfer Dep. 82.50
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
6/23/98 Check Order Charge 13.03
- -------------------------------------------------------------------------------------------------
6/30/98 Service Charge 13.99
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
===========------------------------------------------------------------------------==============
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 908.87
==============
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 268.93
=================================================================================================
</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 MAY 1998 JUNE 1998
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH (4.96) 512.60 241.11
- -------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------
2. CASH SALES - - -
- -------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE 962.93 40.00 317.65
- -------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) - - -
- -------------------------------------------------------------------------------------------------
5. SALE OF ASSETS - - -
- -------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) 9,566.40 2,253.00 -
=================================================================================================
7. TOTAL RECEIPTS 10,529.33 2,293.00 317.65
=================================================================================================
8. TOTAL CASH AVAILABLE 10,524.37 2,805.60 558.76
=================================================================================================
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
7 6/8/98 Consolidated Stainless, Inc. Transfer Dep. 317.65
- -------------------------------------------------------------------------------------------------
6/30/98 Service Charge 14.04
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------
===========------------------------------------------------------------------------==============
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 331.69
==============
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 227.07
=================================================================================================
</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
===================================================================================================
<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>
1. Phoenix Management debtor consultant [1] 19,806.40 19,806.40 19,806.40
- ---------------------------------------------------------------------------------------------------
2.
- ---------------------------------------------------------------------------------------------------
3.
- ---------------------------------------------------------------------------------------------------
4.
- ---------------------------------------------------------------------------------------------------
5.
- ---------------------------------------------------------------------------------------------------
6. Total Payments to Professionals 19,806.40 19,806.40 19,806.40
===================================================================================================
===================================================================================================
ADEQUATE PROTECTION PAYMENTS
===================================================================================================
SCHEDULED AMOUNTS
MONTHLY PAID TOTAL
PAYMENTS DURING UNPAID
NAME OF CREDITOR DUE MONTH POSTPETITION
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. Phoenixcor, Inc. 10,153.95 10,153.95 -
- ---------------------------------------------------------------------------------------------------
2. SunTrust Bank, Central Florida, N.A. 55,217.38 55,217.38 -
- ---------------------------------------------------------------------------------------------------
3.
- ---------------------------------------------------------------------------------------------------
4.
- ---------------------------------------------------------------------------------------------------
5.
- ---------------------------------------------------------------------------------------------------
6.
- ---------------------------------------------------------------------------------------------------
7.
- ---------------------------------------------------------------------------------------------------
8. TOTAL 65,371.33 65,371.33 -
===================================================================================================
</TABLE>
[1] Per court order dated June 30, 1998 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 $ 17,307.70 15,624.96 [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 4,687.54 [2]
- ---------------------------------------------------------------------------------------------------
RONALD J. ADAMS President/Director Auto Allowance 923.08 -
- ---------------------------------------------------------------------------------------------------
RONALD J. ADAMS President/Director Life Insurance 2,191.80 -
- ---------------------------------------------------------------------------------------------------
STEPHEN M. ADAMS V.P.-Prod. Salary 11,000.00 -
- ---------------------------------------------------------------------------------------------------
BURTON R. CHASNOV Exec. V.P./C.F.O. Rent 3,620.80 -
- ---------------------------------------------------------------------------------------------------
R & H PARTNERS N/A Rent 5,512.00 -
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
Total Payments to Insiders $ 54,327.30
===================================================================================================
</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 June 1, 1998 to June 30, 1998 (Account Number 2-703-791) [4(a)(1)]
2. Schedules of Mellon Bank Account Cash Disbursements for the Period June 1,
1998 to June 30, 1998 (Account Number 2-953-131):
Branch Checks - 4(b)(1)
Wires & Bank Debits - 4(b)(2)
3. Schedule of Huntington Bank Payroll Account Voided Check as of June 30, 1998
(Account Number 1603427364) [4(f)(1)]
4. Schedule of Huntington Bank Payroll Account Cash Disbursements for the Period
June 1, 1998 to June 30, 1998 (Account Number 1603427364) [4(f)(2)]
5. Schedules of Accounts Receivable Aging, Post Petition Accounts Payable Aging,
and Status of Post Petition Taxes as of June 30, 1998 [5]
6. Schedule of all Operating Bank Account Reconciliations and Cash on Hand as of
June 30, 1998 [6(a) to 6(c)]
7. Schedule of Mellon Bank Account Last Checks Written as of June 30, 1998
(Account Number 2-953-131) [6(d)]
8. Questionnaire and Insurance Information [8]
9. Responses to Questionnaire [8(a)]
10. Personnel Headcount Activity [9]
11. Mellon Bank Statement of Account for the period May 29, 1998 to June 30,
1998 (Account Number 2-703-791)
12. Mellon Bank Statement of Account for the period May 29, 1998 to June 30,
1998 (Account Number 2-953-131)
13. Merrill Lynch Bank Statement of Account for the period June 1, 1998 to June
30, 1998 (Account Number 64A-07644)
14. Washington Mutual Bank Statement of Account for the period June 1, 1998 to
June 30, 1998 (Account Number 872-018039-2)
15. Correspondence from Great Western Bank indicating change to Washington
Mutual Bank
16. Huntington National Bank Statement of Account for the period June 1, 1998 to
June 30, 1998 (Account Number 1603427364)
Page 1 of 2
<PAGE>
LIST OF OMITTED SCHEDULES
17. SunTrust Bank Statement of Account for the period June 1, 1998 to June 30,
1998 (Account Number 0288008734682)
18. SunTrust Bank Statement of Account for the period June 1, 1998 to June 30,
1998 (Account Number 0710629932410)
19. SunTrust Bank Statement of Account for the period June 1, 1998 to June 30,
1998 (Account Number 0526001124765)
20. Correspondence from Automatic Data Processing confirming electronic debits
of payroll tax deposits
Page 2 of 2
