SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 30, 1998
(December 16, 1997)
Consolidated Stainless, Inc.
------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Ronald J. Adams
President
Consolidated Stainless, Inc.
1601 East Amelia Street
Orlando, Florida 32803
------------------------------------------------------------------------------
(Name and address of Agent for Service)
Delaware 000-22690 59-1669166
- --------------------------------------------------------------------------------
(State or other (Commission File Number) (I.R.S. Employer
jurisdiction of incorporation) Identification Number)
1601 East Amelia Street, Orlando, Florida 32803
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (407) 896-4000
Copy to:
Peter W. Rothberg, Esq.
Greenberg Traurig Hoffman Lipoff Rosen & Quentel
200 Park Avenue
New York, New York 10166
(212) 801-9200
- ------------------------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
<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 Trustee and the Bankruptcy
Court (the "Monthly Reports"). The Company is filing herewith the Monthly
Reports (i) for the period from December 16 to December 31, 1997, (ii) for the
month ending January 31, 1998, and (iii) for the month ending February 28, 1998,
as Exhibits 99.1, 99.2, and 99.3, 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 Period from December 16 to December 31, 1997.(1)
99.2. Monthly Operating Report of Consolidated Stainless, Inc. for
the Month ended January 31, 1998.(1)
99.3. Monthly Operating Report of Consolidated Stainless, Inc. for
the Month ended February 28, 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)
Date: March 30, 1998 By: /S/ Ronald J. Adams
-------------------------------
Ronald J. Adams,
President
3
<PAGE>
EXHIBIT INDEX
Exhibit Number Description
- -------------- -----------
99.1. Monthly Operating Report of Consolidated Stainless, Inc. for
the Period from December 16 to December 31, 1997.
99.2. Monthly Operating Report of Consolidated Stainless, Inc. for
the Month ended January 31, 1998.
99.3. Monthly Operating Report of Consolidated Stainless, Inc. for
the Month ended February 28, 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 16 days ending December 31, 1997
================================================================================
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/ Burton R. Chasnov Executive Vice President/CFO
- -------------------------------------- ---------------------------------
SIGNATURE OF RESPONSIBLE PARTY TITLE
Burton R. Chasnov February 16, 1998
- -------------------------------------- ---------------------------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
/s/ Daniel A. Rashy Controller
- -------------------------------------- ---------------------------------
SIGNATURE OF PREPARER TITLE
Daniel A. Rashy February 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. ACCRUAL BASIS-2
COMPARATIVE BALANCE SHEET
Case No.: 97-02593JJF 4TH QUARTER
- --------------------------------------------------------------------------------
ASSETS MONTH MONTH MONTH
-----------------------------
SCHEDULE DEC 1997
- --------------------------------------------------------------------------------
1. CASH 5,648
- --------------------------------------------------------------------------------
2. ACCOUNTS RECEIVABLE (NET) 6,074,981
- --------------------------------------------------------------------------------
3. INVENTORY 17,434,164
- --------------------------------------------------------------------------------
4. NOTES RECEIVABLE 254,294
- --------------------------------------------------------------------------------
5. PREPAID EXPENSES 326,151
- --------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) 2(a) 652,438
- --------------------------------------------------------------------------------
7. TOTAL CURRENT ASSETS 24,747,676
- --------------------------------------------------------------------------------
8. PROPERTY, PLANT & EQUIPMENT 20,186,966
- --------------------------------------------------------------------------------
9. LESS: ACCUMULATED
DEPRECIATION / DEPLETION 5,063,055
- --------------------------------------------------------------------------------
10. NET PROPERTY, PLANT & EQUIPMENT 15,123,911
- --------------------------------------------------------------------------------
11. DUE FROM AFFILIATES & INSIDERS 48,388
- --------------------------------------------------------------------------------
12. INTANGIBLES (ATTACH LIST) -
- --------------------------------------------------------------------------------
13. OTHER (ATTACH LIST) 2(b) 240,531
- --------------------------------------------------------------------------------
14. TOTAL ASSETS 40,160,506
- --------------------------------------------------------------------------------
POSTPETITION LIABILITIES
- --------------------------------------------------------------------------------
15. ACCOUNTS PAYABLE 70,897
- --------------------------------------------------------------------------------
16. TAXES PAYABLE 17,673
- --------------------------------------------------------------------------------
17. NOTES PAYABLE -
- --------------------------------------------------------------------------------
18. PROFESSIONAL FEES 47,707
- --------------------------------------------------------------------------------
19. SECURED DEBT 916,259
- --------------------------------------------------------------------------------
20. DUE TO AFFILIATES & INSIDERS -
- --------------------------------------------------------------------------------
21. OTHER (ATTACH LIST) 2(c) 247,677
- --------------------------------------------------------------------------------
22. TOTAL POSTPETITION LIABILITIES 1,300,213
- --------------------------------------------------------------------------------
PREPETITION LIABILITIES
- --------------------------------------------------------------------------------
23. SECURED DEBT 25,396,820
- --------------------------------------------------------------------------------
24. PRIORITY DEBT 676,680
- --------------------------------------------------------------------------------
25. UNSECURED DEBT 10,384,663
- --------------------------------------------------------------------------------
26. OTHER (ATTACH LIST) 2(d) 565,537
- --------------------------------------------------------------------------------
27. TOTAL PREPETITION LIABILITIES 37,023,700
- --------------------------------------------------------------------------------
28. TOTAL LIABILITIES 38,323,913
- --------------------------------------------------------------------------------
EQUITY
- --------------------------------------------------------------------------------
29. OWNERS' PREPETITION EQUITY 2,153,841
- --------------------------------------------------------------------------------
30. POSTPETITION CUMULATIVE
PROFIT OR (LOSS) (317,248)
- --------------------------------------------------------------------------------
31. TOTAL EQUITY (DEFICIT) 1,836,593
- --------------------------------------------------------------------------------
32. TOTAL LIABILITIES & OWNERS' EQUITY 40,160,506
- --------------------------------------------------------------------------------
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-2(a)
OTHER CURRENT ASSETS
Case No.: 97-02593JJF 4TH QUARTER
- -------------------------------------------------------------------------------
MONTH MONTH MONTH
-----------------------------
12/16/97 -
12/31/97
- -------------------------------------------------------------------------------
OTHER RECEIVABLES 175,229
- -------------------------------------------------------------------------------
DEFERRED FINANCING COSTS (NET) 79,167
- -------------------------------------------------------------------------------
DEFERRED INCOME TAXES 398,042
- -------------------------------------------------------------------------------
TOTAL OTHER CURRENT ASSETS 652,438
- -------------------------------------------------------------------------------
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-2(b)
OTHER ASSETS
Case No.: 97-02593JJF 4TH QUARTER
- -------------------------------------------------------------------------------
MONTH MONTH MONTH
-------------------------------
12/16/97 -
12/31/97
- -------------------------------------------------------------------------------
SECURITY & MISCELLANEOUS DEPOSITS 63,793
- -------------------------------------------------------------------------------
RETAINER - SAUL, EWING, REMICK & SAUL, LLP 91,738
- -------------------------------------------------------------------------------
RETAINER - GREENBERG, TRAURIG, HOFFMAN,
LIPOFF, ROSEN & QUENTEL, PA 50,000
- -------------------------------------------------------------------------------
RETAINER - BDO SEIDMAN, LLP 25,000
- -------------------------------------------------------------------------------
RETAINER - GLICKSTEIN, LAVAL, CARRIS,
LEVITT, LOOMIS & DANTUMA, PA 10,000
- -------------------------------------------------------------------------------
TOTAL OTHER ASSETS 240,531
- -------------------------------------------------------------------------------
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-2(c)
OTHER POSTPETITION LIABILITIES
Case No.: 97-02593JJF 4TH QUARTER
- -------------------------------------------------------------------------------
MONTH MONTH MONTH
----------------------------------
12/16/97 -
12/31/97
- -------------------------------------------------------------------------------
BOOK OVERDRAFT 60,844
- -------------------------------------------------------------------------------
ACCRUED PAYROLL AND RELATED TAXES 76,425
- -------------------------------------------------------------------------------
ACCRUED INTEREST PAYABLE 93,800 *
- -------------------------------------------------------------------------------
ACCRUED EXPENSES - OTHER 16,608
- -------------------------------------------------------------------------------
TOTAL OTHER POSTPETITION LIABILITIES 247,677
- -------------------------------------------------------------------------------
* Interest has been accrued for accounting purposes only.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-2(d)
OTHER PREPETITION LIABILITIES
Case No.: 97-02593JJF 4TH QUARTER
- -------------------------------------------------------------------------------
MONTH MONTH MONTH
------------------------------
12/16/97 -
12/31/97
- -------------------------------------------------------------------------------
PROPERTY TAX ACCRUAL 32,125
- -------------------------------------------------------------------------------
OTHER TAXES PAYABLE 14,561
- -------------------------------------------------------------------------------
ACCRUED EXPENSES - OTHER 40,967
- -------------------------------------------------------------------------------
DEFERRED CREDIT 35,730
- -------------------------------------------------------------------------------
RESERVE FOR LITIGATION 30,500
- -------------------------------------------------------------------------------
MISCELLANEOUS PAYABLES 13,612
- -------------------------------------------------------------------------------
DEFERRED INCOME TAXES 398,042
- -------------------------------------------------------------------------------
TOTAL OTHER PREPETITION LIABILITIES 565,537
- -------------------------------------------------------------------------------
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-3
Case No.: 97-02593JJF 4TH QUARTER
- -------------------------------------------------------------------------------
REVENUES MONTH MONTH MONTH
------------------------
12/16/97 -
COMMENTS 12/31/97
- -------------------------------------------------------------------------------
1. GROSS REVENUES 1,439,880
- -------------------------------------------------------------------------------
2. LESS: RETURNS & DISCOUNTS (5,569)
- -------------------------------------------------------------------------------
3. NET REVENUE 1,434,311
- -------------------------------------------------------------------------------
COST OF GOODS SOLD
- -------------------------------------------------------------------------------
4. BEGINNING INVENTORY 18,190,790
- -------------------------------------------------------------------------------
5. ADD: PURCHASES & CAPITALIZED OVERHEAD 592,176
- -------------------------------------------------------------------------------
6. LESS: ENDING INVENTORY 17,434,164
- -------------------------------------------------------------------------------
7. COST OF GOODS SOLD 1,348,802
- -------------------------------------------------------------------------------
8. GROSS PROFIT 85,509
- -------------------------------------------------------------------------------
OPERATING EXPENSES
- -------------------------------------------------------------------------------
9. OFFICER / INSIDER COMPENSATION 38,552
- -------------------------------------------------------------------------------
10. DIRECT LABOR / SALARIES 160,168
- -------------------------------------------------------------------------------
11. PAYROLL TAXES 13,773
- -------------------------------------------------------------------------------
12. RENT & LEASE EXPENSE [1] 12,719
- -------------------------------------------------------------------------------
13. INSURANCE 35,564
- -------------------------------------------------------------------------------
14. DEPRECIATION / DEPLETION / AMORTIZATION 78,425
- -------------------------------------------------------------------------------
15. GENERAL & ADMINISTRATIVE 28,429
- -------------------------------------------------------------------------------
16. LESS: CAPITALIZED OVERHEAD (118,628)
- -------------------------------------------------------------------------------
17. TOTAL OPERATING EXPENSES 249,002
- -------------------------------------------------------------------------------
18. OPERATING INCOME (LOSS) (163,493)
- -------------------------------------------------------------------------------
OTHER INCOME & EXPENSES
- -------------------------------------------------------------------------------
19. OTHER INCOME (ATTACH LIST) -
- -------------------------------------------------------------------------------
20. OTHER EXPENSES (ATTACH LIST) -
- -------------------------------------------------------------------------------
21. INTEREST EXPENSE 108,645
- -------------------------------------------------------------------------------
22. OTHER (ATTACH LIST) -
- -------------------------------------------------------------------------------
23. NET OTHER INCOME & EXPENSES 108,645
- -------------------------------------------------------------------------------
REORGANIZATION EXPENSES
- -------------------------------------------------------------------------------
24. PROFESSIONAL FEES 41,360
- -------------------------------------------------------------------------------
25. U.S. TRUSTEE FEES 3,750
- -------------------------------------------------------------------------------
26. OTHER (ATTACH LIST) -
- -------------------------------------------------------------------------------
27. TOTAL REORGANIZATION EXPENSES 45,110
- -------------------------------------------------------------------------------
28. INCOME TAX -
- -------------------------------------------------------------------------------
29. NET PROFIT (LOSS) (317,248)
- -------------------------------------------------------------------------------
[1] Includes $4,575 of rent expense from facilities leased from insiders.
<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
--------------------------------------------------
12/16/97 -
DISBURSEMENTS 12/31/97
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 207,315.87
- ----------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ----------------------------------------------------------------------------------------------------------------------
2. CASH SALES
- ----------------------------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE 1,317,844.72
- ----------------------------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST)
- ----------------------------------------------------------------------------------------------------------------------
5. SALE OF ASSETS
- ----------------------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) 3,906.81
- ----------------------------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 1,321,751.53
- ----------------------------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 1,529,067.40
- ----------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- ----------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ----------------------------------------------------------------------------------------------------------------------
Revolving Line of Credit Pay Downs 1,528,409.23
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 1,528,409.23
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 658.17
- ----------------------------------------------------------------------------------------------------------------------
</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
-----------------------------------------------------
12/16/97 -
DISBURSEMENTS 12/31/97
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH (3,580.70)
- -------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------------------------------
2. CASH SALES
- -------------------------------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE
- -------------------------------------------------------------------------------------------------------------------------
4. REVOLVER ADVANCES 916,258.65
- -------------------------------------------------------------------------------------------------------------------------
5. SALE OF ASSETS
- -------------------------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST)
- -------------------------------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 916,258.65
- -------------------------------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 912,677.95
- -------------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------------------------------
Auburndale (See Attached List) 4(b)(1) 25,468.97
- -------------------------------------------------------------------------------------------------------------------------
Apopka (See Attached List) 4(b)(2) 641.74
- -------------------------------------------------------------------------------------------------------------------------
California (See Attached List) 4(b)(3) 851.59
- -------------------------------------------------------------------------------------------------------------------------
Jacksonville (See Attached List) 4(b)(4) 13,380.44
- -------------------------------------------------------------------------------------------------------------------------
Houston (See Attached List) 4(b)(5) 209.46
- -------------------------------------------------------------------------------------------------------------------------
Lakeland (See Attached List) 4(b)(6) 4,910.32
- -------------------------------------------------------------------------------------------------------------------------
Chicago (See Attached List) 4(b)(7) 272.00
- -------------------------------------------------------------------------------------------------------------------------
Corporate (See Attached List) 4(b)(8) 50,193.27
- -------------------------------------------------------------------------------------------------------------------------
Wires (See Attached List) 4(b)(9) 899,116.04
- -------------------------------------------------------------------------------------------------------------------------
12/22/97 Transfer to Mellon #2-703-791 to cover NSF 161.06
- -------------------------------------------------------------------------------------------------------------------------
Wire Fees 538.00
- -------------------------------------------------------------------------------------------------------------------------
12/18/97 11/97 Account Analysis Fee 910.56
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 996,653.45
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) (83,975.50)
- -------------------------------------------------------------------------------------------------------------------------
</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
-------------------------------------------------
12/16/97 -
DISBURSEMENTS 12/31/97
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 39.05
- -------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------------------------------
2. CASH SALES
- -------------------------------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE
- -------------------------------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST)
- -------------------------------------------------------------------------------------------------------------------------
5. SALE OF ASSETS
- -------------------------------------------------------------------------------------------------------------------------
6. INTEREST INCOME 0.28
- -------------------------------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 0.28
- -------------------------------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 39.33
- -------------------------------------------------------------------------------------------------------------------------
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) 39.33
- -------------------------------------------------------------------------------------------------------------------------
</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(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
--------------------------------------------------
12/16/97 -
DISBURSEMENTS 12/31/97
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 58.50
- -------------------------------------------------------------------------------------------------------------------------
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 58.50
- -------------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------------------------------
12/17/97 Wire Fee 35.00
- -------------------------------------------------------------------------------------------------------------------------
12/31/97 Monthly Service Fee 8.00
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 43.00
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 15.50
- -------------------------------------------------------------------------------------------------------------------------
</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
--------------------------------------------------
12/16/97 -
DISBURSEMENTS 12/31/97
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 303.04
- -------------------------------------------------------------------------------------------------------------------------
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 303.04
- -------------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------------------------------
1425 12/24/97 Cash Vehicle-Fuel 250.00
- -------------------------------------------------------------------------------------------------------------------------
12/31/97 Monthly Maintenance Fee 10.00
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 260.00
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 43.04
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by
cash on a separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(f)
<TABLE>
<CAPTION>
Bank: Comerica Bank - Texas
Case No.: 97-02593JJF Account No.: 7881022961
Account Type: Business Checking
- -------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
12/16/97 -
DISBURSEMENTS 12/31/97
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 678.19
- -------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------------------------------
2. CASH SALES
- -------------------------------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE
- -------------------------------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST)
- -------------------------------------------------------------------------------------------------------------------------
5. SALE OF ASSETS
- -------------------------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST)
- -------------------------------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS -
- -------------------------------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 678.19
- -------------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT -
- -------------------------------------------------------------------------------------------------------------------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 678.19
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by
cash on a separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(g)
<TABLE>
<CAPTION>
Bank: Huntington Nat'l Bank
Case No.: 97-02593JJF Account No.: 1603427364
Account Type: Payroll
- -------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
12/16/97 -
DISBURSEMENTS 12/31/97
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 5,736.84
- -------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------------------------------
2. CASH SALES
- -------------------------------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE 44,993.40
- -------------------------------------------------------------------------------------------------------------------------
4. TRANSFERS FROM MELLON #2-953-131 366,911.75
- -------------------------------------------------------------------------------------------------------------------------
5. SALE OF ASSETS
- -------------------------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST)
- -------------------------------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 411,905.15
- -------------------------------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 417,641.99
- -------------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------------------------------
See Attached 395,363.90
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 395,363.90
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 22,278.09
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by
cash on a separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(h)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, Cent. FL N.A.
Case No.: 97-02593JJF Account No.: 0215252138566
Account Type: Payroll
- -------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
12/16/97 -
DISBURSEMENTS 12/31/97
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH (543.69)
- -------------------------------------------------------------------------------------------------------------------------
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 (543.69)
- -------------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT -
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) (543.69)
- -------------------------------------------------------------------------------------------------------------------------
</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(i)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, N. FL N.A.
Case No.: 97-02593JJF Account No.: 0288008734682
Account Type: Business Checking
- -------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
12/16/97 -
DISBURSEMENTS 12/31/97
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH (4.29)
- -------------------------------------------------------------------------------------------------------------------------
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 (4.29)
- -------------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------------------------------
12/16/97 Check Order 9.44
- -------------------------------------------------------------------------------------------------------------------------
12/31/97 Monthly Maintenance Fee 15.00
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 24.44
- -------------------------------------------------------------------------------------------------------------------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) (28.73)
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by
cash on a separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(j)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, Cent. FL N.A.
Case No.: 97-02593JJF Account No.: 0710629932410
Account Type: Business Checking
- -------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
12/16/97 -
DISBURSEMENTS 12/31/97
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH (2.67)
- -------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------------------------------
2. CASH SALES
- -------------------------------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE
- -------------------------------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) 450.00
- -------------------------------------------------------------------------------------------------------------------------
5. SALE OF ASSETS
- -------------------------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST)
- -------------------------------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 450.00
- -------------------------------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 447.33
- -------------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------------------------------
12/23/97 Wire Transfer Fee 10.00
- -------------------------------------------------------------------------------------------------------------------------
12/31/97 Service Fee 11.16
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 21.16
- -------------------------------------------------------------------------------------------------------------------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 426.17
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by
cash on a separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(k)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, Mid-FL N.A.
Case No.: 97-02593JJF Account No.: 0526001124765
Account Type: Business Checking
- -------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
12/16/97 -
DISBURSEMENTS 12/31/97
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 10.79
- -------------------------------------------------------------------------------------------------------------------------
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 10.79
- -------------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------------------------------
12/31/97 Monthly Service Fee 13.34
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 13.34
- -------------------------------------------------------------------------------------------------------------------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) (2.55)
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by
cash on a separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(l)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, Mid-FL N.A.
Case No.: 97-02593JJF Account No.: 0031000213063
Account Type: Business Checking
- -------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
12/16/97 -
DISBURSEMENTS 12/31/97
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 8.78
- -------------------------------------------------------------------------------------------------------------------------
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 8.78
- -------------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------------------------------
12/31/97 Service Fee 13.23
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 13.23
- -------------------------------------------------------------------------------------------------------------------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) (4.45)
- -------------------------------------------------------------------------------------------------------------------------
</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
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<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. None
- -------------------------------------------------------------------------------------------------------------------------
2.
- -------------------------------------------------------------------------------------------------------------------------
3.
- -------------------------------------------------------------------------------------------------------------------------
4.
- -------------------------------------------------------------------------------------------------------------------------
5.
- -------------------------------------------------------------------------------------------------------------------------
6. Total Payments to Professionals
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------
ADEQUATE PROTECTION PAYMENTS
- -------------------------------------------------------------------------------------------------------------------------
SCHEDULED AMOUNTS
MONTHLY PAID TOTAL
PAYMENTS DURING UNPAID
NAME OF CREDITOR DUE MONTH POSTPETITION
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. N/A
- -------------------------------------------------------------------------------------------------------------------------
2.
- -------------------------------------------------------------------------------------------------------------------------
3.
- -------------------------------------------------------------------------------------------------------------------------
4.
- -------------------------------------------------------------------------------------------------------------------------
5.
- -------------------------------------------------------------------------------------------------------------------------
6.
- -------------------------------------------------------------------------------------------------------------------------
7.
- -------------------------------------------------------------------------------------------------------------------------
8. TOTAL
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<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 $ 10,817.31 1,201.92[1]
- ------------------------------------------------------------------------------------------------------------------------------
HARVEY B. ADAMS CEO/Chairman Life Insurance 1,887.30 -
- ------------------------------------------------------------------------------------------------------------------------------
RONALD J. ADAMS President/Director Salary 6,850.96 360.58[2]
- ------------------------------------------------------------------------------------------------------------------------------
RONALD J. ADAMS President/Director Life Insurance 2,191.80 -
- ------------------------------------------------------------------------------------------------------------------------------
STEPHEN M. ADAMS V.P.-Prod. Salary 6,875.00 -
- ------------------------------------------------------------------------------------------------------------------------------
BURTON R. CHASNOV Exec. V.P./C.F.O. Salary 7,500.00 -
- ------------------------------------------------------------------------------------------------------------------------------
BURTON R. CHASNOV Exec. V.P./C.F.O. Rent [3] 2,712.73 -
- ------------------------------------------------------------------------------------------------------------------------------
R & H PARTNERS N/A Rent [3] 2,756.00
- ------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------
Total Payments to Insiders $ 41,591.10
- ------------------------------------------------------------------------------------------------------------------------------
</TABLE>
[1] Represents 10% salary deferral beginning on December 15, 1997.
[2] Represents 5% salary deferral beginning on December 15, 1997.
[3] Postpetition Rent.
<PAGE>
LIST OF OMITTED SCHEDULES
1. Schedule of Cash Collateral of Mellon Bank Account Other Cash Receipts for
the Period December 16, 1997 to December 31, 1997 (Account Number 2-703-791)
[4(a)(1)]
2. Schedules of Mellon Bank Account Cash Disbursements for the Period December
16, 1997 to December 31, 1997 (Account Number 2-953-131):
Auburndale - 4(b)(1)
Apopka - 4(b)(2)
California - 4(b)(3)
Jacksonville - 4(b)(4)
Houston - 4(b)(5)
Lakeland - 4(b)(6)
Chicago - 4(b)(7)
Corporate - 4(b)(8)
Wires - 4(b)(9)
3. Schedule of Huntington Bank Payroll Account Cash Disbursements for the Period
December 16, 1997 to December 31, 1997 (Account Number 1603427364) [4(g)(1)]
4. Schedules of Accounts Receivable Aging, Post Petition Accounts Payable Aging,
and Status of Post Petition Taxes as of December 31, 1997 [5]
5. Schedule of all Operating Bank Account Reconciliations and Cash on Hand as of
December 31, 1997 [6(a) to 6(c)]
6. Schedule of Mellon Bank Account Last Checks Written as of December 31, 1997
(Account Number 2-953-131) [6(d)]
7. Schedule of Comerica Bank - Texas Account Reconciling Item as of December 31,
1997 (Account Number 7881022961) [6(e)]
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 November 28, 1997 to
December 31, 1997 (Account Number 2-703-791)
12. Mellon Bank Statement of Account for the period November 28, 1997 to
December 31, 1997 (Account Number 2-953-131)
13. Merrill Lynch Bank Statement of Account for the period November 29, 1997 to
December 31, 1997 (Account Number 64A-07644)
14. Great Western Bank Statement of Account for the period December 1, 1997 to
December 31, 1997 (Account Number 446-818297-7)
Page 1 of 2
<PAGE>
LIST OF OMITTED SCHEDULES
15. NationsBank Statement of Account for the period December 1, 1997 to December
31, 1997 (Account Number 010-333-0164)
16. Comerica Bank - Texas Statement of Account for the period December 1, 1997
to December 31, 1997 (Account Number 7881022961)
17. Huntington National Bank Statement of Account for the period December 3,
1997 to December 31, 1997 (Account Number 1603427364)
18. SunTrust Bank Statement of Account for the period December 1, 1997 to
December 31, 1997 (Account Number 0215252138566)
19. SunTrust Bank Statement of Account for the period December 1, 1997 to
December 31, 1997 (Account Number 0288008734682)
20. SunTrust Bank Statement of Account for the period December 1, 1997 to
December 31, 1997 (Account Number 0710629932410)
21. SunTrust Bank Statement of Account for the period December 1, 1997 to
December 31, 1997 (Account Number 0526001124765)
22. SunTrust Bank Statement of Account for the period December 1, 1997 to
December 31, 1997 (Account Number 0031000213063)
23. Payroll Tax Deposit Receipts from Huntington National Bank for December 17,
1997 and December 31, 1997 (Account Number 01603427364)
Page 2 of 2
CONSOLIDATED STAINLESS, INC. Exhibit 99.2
Case No.: 97-02593JJF ACCRUAL BASIS-1
OFFICE OF THE UNITED STATES TRUSTEE - REGION 3
MONTHLY OPERATING REPORT
for the month ending January 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/ Burton R. Chasnov Executive Vice President/CFO
- ------------------------------------ -------------------------------------
SIGNATURE OF RESPONSIBLE PARTY TITLE
Burton R. Chasnov February 16, 1998
- ------------------------------------ -------------------------------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
/s/ Daniel A. Rashy Controller
- ------------------------------------ -------------------------------------
SIGNATURE OF PREPARER TITLE
Daniel A. Rashy February 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. ACCRUAL BASIS-2
COMPARATIVE BALANCE SHEET
Case No.: 97-02593JJF 1ST QUARTER
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------
ASSETS MONTH MONTH MONTH
----------------------------------------------
SCHEDULE JAN 1998
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH 201,223
- ---------------------------------------------------------------------------------------------------------------------------
2. ACCOUNTS RECEIVABLE (NET) 4,996,602
- ---------------------------------------------------------------------------------------------------------------------------
3. INVENTORY 16,446,051
- ---------------------------------------------------------------------------------------------------------------------------
4. NOTES RECEIVABLE 256,630
- ---------------------------------------------------------------------------------------------------------------------------
5. PREPAID EXPENSES* 205,387
- ---------------------------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) 2(a) 568,397
- ---------------------------------------------------------------------------------------------------------------------------
7. TOTAL CURRENT ASSETS 22,674,290
- ---------------------------------------------------------------------------------------------------------------------------
8. PROPERTY, PLANT & EQUIPMENT 20,197,174
- ---------------------------------------------------------------------------------------------------------------------------
9. LESS: ACCUMULATED -
DEPRECIATION / DEPLETION 5,188,159
- ---------------------------------------------------------------------------------------------------------------------------
10. NET PROPERTY, PLANT & EQUIPMENT 15,009,015
- ---------------------------------------------------------------------------------------------------------------------------
11. DUE FROM AFFILIATES & INSIDERS 48,547
- ---------------------------------------------------------------------------------------------------------------------------
12. INTANGIBLES (ATTACH LIST) -
- ---------------------------------------------------------------------------------------------------------------------------
13. OTHER (ATTACH LIST) 2(b) 240,531
- ---------------------------------------------------------------------------------------------------------------------------
14. TOTAL ASSETS 37,972,383
- ---------------------------------------------------------------------------------------------------------------------------
POSTPETITION LIABILITIES
- ---------------------------------------------------------------------------------------------------------------------------
15. ACCOUNTS PAYABLE 76,388
- ---------------------------------------------------------------------------------------------------------------------------
16. TAXES PAYABLE 56,028
- ---------------------------------------------------------------------------------------------------------------------------
17. NOTES PAYABLE -
- ---------------------------------------------------------------------------------------------------------------------------
18. PROFESSIONAL FEES 274,194
- ---------------------------------------------------------------------------------------------------------------------------
19. SECURED DEBT 2,253,181
- ---------------------------------------------------------------------------------------------------------------------------
20. DUE TO AFFILIATES & INSIDERS -
- ---------------------------------------------------------------------------------------------------------------------------
21. OTHER (ATTACH LIST) 2(c) 537,782
- ---------------------------------------------------------------------------------------------------------------------------
22. TOTAL POSTPETITION LIABILITIES 3,197,573
- ---------------------------------------------------------------------------------------------------------------------------
PREPETITION LIABILITIES
- ---------------------------------------------------------------------------------------------------------------------------
23. SECURED DEBT 22,172,905
- ---------------------------------------------------------------------------------------------------------------------------
24. PRIORITY DEBT 674,158
- ---------------------------------------------------------------------------------------------------------------------------
25. UNSECURED DEBT 10,384,663
- ---------------------------------------------------------------------------------------------------------------------------
26. OTHER (ATTACH LIST) 2(d) 565,537
- ---------------------------------------------------------------------------------------------------------------------------
27. TOTAL PREPETITION LIABILITIES 33,797,263
- ---------------------------------------------------------------------------------------------------------------------------
28. TOTAL LIABILITIES 36,994,836
- ---------------------------------------------------------------------------------------------------------------------------
EQUITY
- ---------------------------------------------------------------------------------------------------------------------------
29. OWNERS' PREPETITION EQUITY 2,153,841
- ---------------------------------------------------------------------------------------------------------------------------
30. POSTPETITION CUMULATIVE
PROFIT OR (LOSS) (1,176,294)
- ---------------------------------------------------------------------------------------------------------------------------
31. TOTAL EQUITY (DEFICIT) 977,547
- ---------------------------------------------------------------------------------------------------------------------------
32. TOTAL LIABILITIES & OWNERS' EQUITY 37,972,383
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
* Of this amount $122,288 represents prepaid inventory.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-2(a)
OTHER CURRENT ASSETS
Case No.: 97-02593JJF 1ST QUARTER
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
-----------------------------------------------
JAN 1998
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
OTHER RECEIVABLES 122,855
- ------------------------------------------------------------------------------------------------------------
DEFERRED FINANCING COSTS (NET) 47,500
- ------------------------------------------------------------------------------------------------------------
DEFERRED INCOME TAXES 398,042
- ------------------------------------------------------------------------------------------------------------
TOTAL OTHER CURRENT ASSETS 568,397
- ------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-2(b)
OTHER ASSETS
Case No.: 97-02593JJF 1ST QUARTER
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
------------------------------------------------
JAN 1998
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SECURITY & MISCELLANEOUS DEPOSITS 63,793
- ------------------------------------------------------------------------------------------------------------
RETAINER - SAUL, EWING, REMICK, & SAUL, LLP 91,738
- ------------------------------------------------------------------------------------------------------------
RETAINER - GREENBERG, TRAURIG, HOFFMAN
LIPOFF, ROSEN & QUENTEL, PA 50,000
- ------------------------------------------------------------------------------------------------------------
RETAINER - BDO SEIDMAN, LLP 25,000
- ------------------------------------------------------------------------------------------------------------
RETAINER - GLICKSTEIN, LAVAL, CARRIS,
LEVITT, LOOMIS & DANTUMA, PA 10,000
- ------------------------------------------------------------------------------------------------------------
TOTAL OTHER ASSETS 240,531
- ------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-2(c)
OTHER POSTPETITION LIABILITIES
Case No.: 97-02593JJF 1ST QUARTER
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
------------------------------------------------
JAN 1998
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
BOOK OVERDRAFT 129,626
- ------------------------------------------------------------------------------------------------------------
ACCRUED PAYROLL AND RELATED TAXES 108,050
- ------------------------------------------------------------------------------------------------------------
ACCRUED INTEREST PAYABLE 220,834
- ------------------------------------------------------------------------------------------------------------
ACCRUED EXPENSES - OTHER 48,929
- ------------------------------------------------------------------------------------------------------------
ACCRUED PROPERTY TAXES 28,891
- ------------------------------------------------------------------------------------------------------------
ACCRUED OTHER TAXES PAYABLE 1,452
- ------------------------------------------------------------------------------------------------------------
TOTAL OTHER POSTPETITION LIABILITIES 537,782
- ------------------------------------------------------------------------------------------------------------
</TABLE>
* Interest has been accrued for accounting purposes only.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-2(d)
OTHER PREPETITION LIABILITIES
Case No.: 97-02593JJF 1ST QUARTER
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
------------------------------------------------
JAN 1998
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
PROPERTY TAX ACCRUAL 32,125
- ------------------------------------------------------------------------------------------------------------
OTHER TAXES PAYABLE 14,561
- ------------------------------------------------------------------------------------------------------------
ACCRUED EXPENSES - OTHER 40,967
- ------------------------------------------------------------------------------------------------------------
DEFERRED CREDIT 35,730
- ------------------------------------------------------------------------------------------------------------
RESERVE FOR LITIGATION 30,500
- ------------------------------------------------------------------------------------------------------------
MISCELLANEOUS PAYABLES 13,612
- ------------------------------------------------------------------------------------------------------------
DEFERRED INCOME TAXES 398,042
- ------------------------------------------------------------------------------------------------------------
TOTAL OTHER PREPETITION LIABILITIES 565,537
- ------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-3
Case No.: 97-02593JJF 1ST QUARTER
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------
REVENUES MONTH MONTH MONTH
----------------------------------------------
COMMENTS JAN 1998
- -----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. GROSS REVENUES 2,349,738
- -----------------------------------------------------------------------------------------------------------------
2. LESS: RETURNS & DISCOUNTS (119,942)
- -----------------------------------------------------------------------------------------------------------------
3. NET REVENUE 2,229,796
- -----------------------------------------------------------------------------------------------------------------
COST OF GOODS SOLD
- -----------------------------------------------------------------------------------------------------------------
4. BEGINNING INVENTORY 17,434,164
- -----------------------------------------------------------------------------------------------------------------
5. ADD: PURCHASES & CAPITALIZED OVERHEAD 1,053,632
- -----------------------------------------------------------------------------------------------------------------
6. LESS: ENDING INVENTORY 16,446,051
- -----------------------------------------------------------------------------------------------------------------
7. COST OF GOODS SOLD 2,041,745
- -----------------------------------------------------------------------------------------------------------------
8. GROSS PROFIT 188,051
- -----------------------------------------------------------------------------------------------------------------
OPERATING EXPENSES
- -----------------------------------------------------------------------------------------------------------------
9. OFFICER / INSIDER COMPENSATION 80,968
- -----------------------------------------------------------------------------------------------------------------
10. DIRECT LABOR / SALARIES 333,841
- -----------------------------------------------------------------------------------------------------------------
11. PAYROLL TAXES 40,939
- -----------------------------------------------------------------------------------------------------------------
12. RENT & LEASE EXPENSE [1] 26,487
- -----------------------------------------------------------------------------------------------------------------
13. INSURANCE 55,117
- -----------------------------------------------------------------------------------------------------------------
14. DEPRECIATION / DEPLETION / AMORTIZATION 156,772
- -----------------------------------------------------------------------------------------------------------------
15. GENERAL & ADMINISTRATIVE 66,949
- -----------------------------------------------------------------------------------------------------------------
16. LESS: CAPITALIZED OVERHEAD (219,045)
- -----------------------------------------------------------------------------------------------------------------
17. TOTAL OPERATING EXPENSES 542,028
- -----------------------------------------------------------------------------------------------------------------
18. OPERATING INCOME (LOSS) (353,977)
- -----------------------------------------------------------------------------------------------------------------
OTHER INCOME & EXPENSES
- -----------------------------------------------------------------------------------------------------------------
19. INTEREST INCOME (2,804)
- -----------------------------------------------------------------------------------------------------------------
20. OTHER EXPENSES (ATTACH LIST) -
- -----------------------------------------------------------------------------------------------------------------
21. INTEREST EXPENSE 238,286
- -----------------------------------------------------------------------------------------------------------------
22. OTHER (ATTACH LIST) -
- -----------------------------------------------------------------------------------------------------------------
23. NET OTHER INCOME & EXPENSES 235,482
- -----------------------------------------------------------------------------------------------------------------
REORGANIZATION EXPENSES
- -----------------------------------------------------------------------------------------------------------------
24. PROFESSIONAL FEES 266,254
- -----------------------------------------------------------------------------------------------------------------
25. U.S. TRUSTEE FEES 3,333
- -----------------------------------------------------------------------------------------------------------------
26. OTHER (ATTACH LIST) -
- -----------------------------------------------------------------------------------------------------------------
27. TOTAL REORGANIZATION EXPENSES 269,587
- -----------------------------------------------------------------------------------------------------------------
28. INCOME TAX
- -----------------------------------------------------------------------------------------------------------------
29. NET PROFIT (LOSS) (859,046)
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
[1] Includes $9,228 of rent expense from facilities leased from insiders.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(a)
<TABLE>
<CAPTION>
Bank: Mellon Bank, N.A.
Case No.: 97-02593JJF Account No.: 2-703-791
Account Type: Cash Collateral of Mellon Bank*
- ------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
DISBURSEMENTS JAN 1998
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 658.17
- ------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ------------------------------------------------------------------------------------------------------------------------
2. CASH SALES -
- ------------------------------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE 3,309,658.27
- ------------------------------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) -
- ------------------------------------------------------------------------------------------------------------------------
5. SALE OF ASSETS -
- ------------------------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) 101,414.92
- ------------------------------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 3,411,073.19
- ------------------------------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 3,411,731.36
- ------------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- ------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ------------------------------------------------------------------------------------------------------------------------
Revolving Line of Credit Pay Downs 3,223,915.16
- ------------------------------------------------------------------------------------------------------------------------
Credit Card Merchant Fees 257.97
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 3,224,173.13
-----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 187,558.23
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by
cash on a separate form. Attach additional sheets if necessary.
* Funds in this account are to be used solely to pay down the
balance owed on any outstanding indebtedness the Company may have to
Mellon Bank. Funds are not available for operating purposes.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(b)
<TABLE>
<CAPTION>
Bank: Mellon Bank, N.A.
Case No.: 97-02593JJF Account No.: 2-953-131
Account Type: Business Checking
- -------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
DISBURSEMENTS JAN 1998
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH (83,975.50)
- ----------------------------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------------------------------
2. CASH SALES -
- -------------------------------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE -
- -------------------------------------------------------------------------------------------------------------------------
4. REVOLVER ADVANCES 1,336,922.58
- -------------------------------------------------------------------------------------------------------------------------
5. SALE OF ASSETS -
- -------------------------------------------------------------------------------------------------------------------------
6. ADJUSTMENT TO RECONCILE 10.00
- -------------------------------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 1,336,932.58
- -------------------------------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 1,252,957.08
- -------------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------------------------------
1/31/98 Transfer to Mellon #2-703-791 to cover NSF 2,310.09
- -------------------------------------------------------------------------------------------------------------------------
Auburndale (See Attached List) 4(b)(1) 50,097.85
- -------------------------------------------------------------------------------------------------------------------------
Apopka (See Attached List) 4(b)(2) 29,039.41
- -------------------------------------------------------------------------------------------------------------------------
California (See Attached List) 4(b)(3) 5,225.71
- -------------------------------------------------------------------------------------------------------------------------
Acworth (See Attached List) 4(b)(4) 2,272.05
- -------------------------------------------------------------------------------------------------------------------------
Jacksonville (See Attached List) 4(b)(5) 97,484.72
- -------------------------------------------------------------------------------------------------------------------------
Houston (See Attached List) 4(b)(6) 7,757.63
- -------------------------------------------------------------------------------------------------------------------------
Lakeland (See Attached List) 4(b)(7) 10,415.63
- -------------------------------------------------------------------------------------------------------------------------
Chicago (See Attached List) 4(b)(8) 636.19
- -------------------------------------------------------------------------------------------------------------------------
Corporate (See Attached List) 4(b)(9) 429,170.44
- -------------------------------------------------------------------------------------------------------------------------
Wires & Bank Debits (See Attached List) 4(b)(10) 767,404.95
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 1,401,814.67
----------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) (148,857.59)
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by
cash on a separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(c)
<TABLE>
<CAPTION>
Bank: Merrill Lynch
Case No.: 97-02593JJF Account No.: 64A-07644
Account Type: Cash & Money Fund
- -------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
DISBURSEMENTS JAN 1998
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 39.33
- -------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------------------------------
2. CASH SALES
- -------------------------------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE
- -------------------------------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST)
- -------------------------------------------------------------------------------------------------------------------------
5. SALE OF ASSETS
- -------------------------------------------------------------------------------------------------------------------------
6. INTEREST INCOME 0.23
- -------------------------------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 0.23
- -------------------------------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 39.56
- -------------------------------------------------------------------------------------------------------------------------
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) 39.56
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by
cash on a separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(d)
<TABLE>
<CAPTION>
Bank: Great Western
Case No.: 97-02593JJF Account No.: 446-818297-7
Account Type: Business Checking
- -------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
DISBURSEMENTS JAN 1998
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 15.50
- -------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------------------------------
2. CASH SALES
- -------------------------------------------------------------------------------------------------------------------------
3. DEPOSIT PETTY CASH CHECK 430.55
- -------------------------------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST)
- -------------------------------------------------------------------------------------------------------------------------
5. SALE OF ASSETS
- -------------------------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST)
- -------------------------------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 430.55
- -------------------------------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 446.05
- -------------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------------------------------
2003 1/5/98 Consolidated Stainless Petty Cash 200.00
- -------------------------------------------------------------------------------------------------------------------------
1/31/98 Monthly Service Fee 8.20
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 208.20
- -------------------------------------------------------------------------------------------------------------------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 237.85
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by
cash on a separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(e)
<TABLE>
<CAPTION>
Bank: NationsBank, N.A.
Case No.: 97-02593JJF Account No.: 010-333-0164
Account Type: Business Checking
- -------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
DISBURSEMENTS JAN 1998
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 43.04
- -------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------------------------------
2. CASH SALES
- -------------------------------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE
- -------------------------------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST)
- -------------------------------------------------------------------------------------------------------------------------
5. SALE OF ASSETS
- -------------------------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST)
- -------------------------------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS -
- -------------------------------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 43.04
- -------------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------------------------------
1412 1/14/98 Cash Vehicle-Fuel 32.01
- -------------------------------------------------------------------------------------------------------------------------
1/31/98 Monthly Maintenance Fee 10.00
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 42.01
- -------------------------------------------------------------------------------------------------------------------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 1.03
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by
cash on a separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(f)
<TABLE>
<CAPTION>
Bank: Comerica Bank - Texas
Case No.: 97-02593JJF Account No.: 7881022961
Account Type: Business Checking
- ---------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
----------------------------------------------------
DISBURSEMENTS JAN 1998
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 678.19
- ---------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- ---------------------------------------------------------------------------------------------------------------------------
2. CASH SALES
- ---------------------------------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE
- ---------------------------------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST)
- ---------------------------------------------------------------------------------------------------------------------------
5. SALE OF ASSETS
- ---------------------------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST)
- ---------------------------------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS -
- ---------------------------------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 678.19
- ---------------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- ---------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ---------------------------------------------------------------------------------------------------------------------------
1/2/98 Deposited to Mellon Bank #2-703-791 To Close Acct 678.19
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 678.19
- ---------------------------------------------------------------------------------------------------------------------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) -
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by
cash on a separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(g)
<TABLE>
<CAPTION>
Bank: Huntington Nat'l Bank
Case No.: 97-02593JJF Account No.: 1603427364
Account Type: Payroll
- -------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
DISBURSEMENTS JAN 1998
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 22,278.09
- -------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------------------------------
2. CASH SALES -
- -------------------------------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE -
- -------------------------------------------------------------------------------------------------------------------------
4. DEPOSITS 275,000.00
- -------------------------------------------------------------------------------------------------------------------------
5. SALE OF ASSETS -
- -------------------------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) -
- -------------------------------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 275,000.00
- -------------------------------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 297,278.09
- -------------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------------------------------
See Attached 274,084.27
- -------------------------------------------------------------------------------------------------------------------------
Other Adjustments:
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
1/31/98 Void 12/17/97 ck#1327 Gary Cox (239.69)
- -------------------------------------------------------------------------------------------------------------------------
(Replaced by ck#1558 1/15/98)
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
1/21/98 Service Charge 103.50
- -------------------------------------------------------------------------------------------------------------------------
1/30/98 Error in Check Clearing (0.01)
- -------------------------------------------------------------------------------------------------------------------------
(ck#313 written $511.26, cleared $511.25)
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 273,948.07
- -------------------------------------------------------------------------------------------------------------------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 23,330.02
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by
cash on a separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(h)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, Cent. FL N.A.
Case No.: 97-02593JJF Account No.: 0215252138566
Account Type: Payroll
- -------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
DISBURSEMENTS JAN 1998
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH (543.69)
- -------------------------------------------------------------------------------------------------------------------------
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 (543.69)
- -------------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT -
- -------------------------------------------------------------------------------------------------------------------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) (543.69)
- -------------------------------------------------------------------------------------------------------------------------
</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(i)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, N. FL N.A.
Case No.: 97-02593JJF Account No.: 0288008734682
Account Type: Business Checking
- -------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
DISBURSEMENTS JAN 1998
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH (28.73)
- -------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------------------------------
2. CASH SALES
- -------------------------------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE 3,444.30
- -------------------------------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST)
- -------------------------------------------------------------------------------------------------------------------------
5. SALE OF ASSETS
- -------------------------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST)
- -------------------------------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 3,444.30
- -------------------------------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 3,415.57
- -------------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------------------------------
1/31/98 Monthly Maintenance Fee 15.00
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 15.00
- -------------------------------------------------------------------------------------------------------------------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 3,400.57
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by
cash on a separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(j)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, Cent. FL N.A.
Case No.: 97-02593JJF Account No.: 0710629932410
Account Type: Business Checking
- -------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
DISBURSEMENTS JAN 1998
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 426.17
- -------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------------------------------
2. CASH SALES -
- -------------------------------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE 504.28
- -------------------------------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) -
- -------------------------------------------------------------------------------------------------------------------------
5. SALE OF ASSETS -
- -------------------------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) -
- -------------------------------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 504.28
- -------------------------------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 930.45
- -------------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------------------------------
1/31/98 Service Fee 12.95
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 12.95
- -------------------------------------------------------------------------------------------------------------------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 917.50
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by
cash on a separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(k)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, Mid-FL N.A.
Case No.: 97-02593JJF Account No.: 0526001124765
Account Type: Business Checking
- -------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
DISBURSEMENTS JAN 1998
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH (2.55)
- -------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------------------------------
2. CASH SALES -
- -------------------------------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE 41.81
- -------------------------------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) -
- -------------------------------------------------------------------------------------------------------------------------
5. SALE OF ASSETS -
- -------------------------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) -
- -------------------------------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 41.81
- -------------------------------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 39.26
- -------------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------------------------------
1/31/98 Monthly Service Fee 15.38
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 15.38
- -------------------------------------------------------------------------------------------------------------------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 23.88
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by
cash on a separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(l)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, Mid-FL N.A.
Case No.: 97-02593JJF Account No.: 0031000213063
Account Type: Business Checking
- -------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH
--------------------------------------------------
DISBURSEMENTS JAN 1998
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH - BEGINNING OF MONTH (4.45)
- -------------------------------------------------------------------------------------------------------------------------
RECEIPTS
- -------------------------------------------------------------------------------------------------------------------------
2. CASH SALES -
- -------------------------------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE -
- -------------------------------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) -
- -------------------------------------------------------------------------------------------------------------------------
5. SALE OF ASSETS -
- -------------------------------------------------------------------------------------------------------------------------
6. REFUND OVERDRAWN SERVICE CHARGE 4.45
- -------------------------------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 4.45
- -------------------------------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE -
- -------------------------------------------------------------------------------------------------------------------------
CURRENT MONTH DISBURSEMENTS
- -------------------------------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT -
- -------------------------------------------------------------------------------------------------------------------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) -
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by
cash on a separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-7
Case No.:97-02593JJF
- --------------------------------------------------------------------------------
PAYMENTS TO INSIDERS AND PROFESSIONALS
- --------------------------------------------------------------------------------
OF THE TOTAL DISBURSEMENTS SHOWN FOR THE MONTH, LIST THE AMOUNT PAID
TO INSIDERS (AS DEFINED IN SECTION 101 (31) (A)-(F) OF THE U.S. BANKRUPTCY CODE)
AND TO PROFESSIONALS. FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF
COMPENSATION PAID (e.g. SALARY, BONUS, COMMISSION, INSURANCE, HOUSING ALLOWANCE,
TRAVEL, CAR ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------------
INSIDERS
- --------------------------------------------------------------------------------------------------------- CUMULATIVE
TYPE OF AMOUNT UNPAID
NAME POSITION PAYMENT PAID BALANCE
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. See Accrual Basis-7(a)
- --------------------------------------------------------------------------------------------------------------------------
2.
- --------------------------------------------------------------------------------------------------------------------------
3.
- --------------------------------------------------------------------------------------------------------------------------
4.
- --------------------------------------------------------------------------------------------------------------------------
5.
- --------------------------------------------------------------------------------------------------------------------------
6. TOTAL PAYMENTS TO INSIDERS
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<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] 34,189.66 34,189.66 34,189.66
- -----------------------------------------------------------------------------------------------------------------------------
2. debtor accountant
- -----------------------------------------------------------------------------------------------------------------------------
3.
- -----------------------------------------------------------------------------------------------------------------------------
4.
- -----------------------------------------------------------------------------------------------------------------------------
5.
- -----------------------------------------------------------------------------------------------------------------------------
6. Total Payments to Professionals 34,189.66 34,189.66 34,189.66
- -----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------
ADEQUATE PROTECTION PAYMENTS
- -----------------------------------------------------------------------------------------------------------------------------
SCHEDULED AMOUNTS
MONTHLY PAID TOTAL
PAYMENTS DURING UNPAID
NAME OF CREDITOR DUE MONTH POSTPETITION
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. N/A
- -----------------------------------------------------------------------------------------------------------------------------
2.
- -----------------------------------------------------------------------------------------------------------------------------
3.
- -----------------------------------------------------------------------------------------------------------------------------
4.
- -----------------------------------------------------------------------------------------------------------------------------
5.
- -----------------------------------------------------------------------------------------------------------------------------
6.
- -----------------------------------------------------------------------------------------------------------------------------
7.
- -----------------------------------------------------------------------------------------------------------------------------
8. TOTAL
- -----------------------------------------------------------------------------------------------------------------------------
</TABLE>
[1] Per court order dated December 16, 1997 authorizing the payment of
Administrative Fees.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-7(a)
Case No.:97-02593JJF
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------------
INSIDERS
- ------------------------------------------------------------------------------------------------------------- CUMULATIVE
TYPE OF AMOUNT UNPAID
NAME POSITION PAYMENT PAID BALANCE
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
HARVEY B. ADAMS CEO/Chairman Salary $ 21,634.62 3,605.76 [1]
- ---------------------------------------------------------------------------------------------------------------------------------
HARVEY B. ADAMS CEO/Chairman Auto Allowance 968.66 -
- ---------------------------------------------------------------------------------------------------------------------------------
HARVEY B. ADAMS CEO/Chairman Life Insurance 1,887.30 -
- ---------------------------------------------------------------------------------------------------------------------------------
RONALD J. ADAMS President/Director Salary 13,701.92 1,081.74 [2]
- ---------------------------------------------------------------------------------------------------------------------------------
RONALD J. ADAMS President/Director Auto Allowance 1,698.46
- ---------------------------------------------------------------------------------------------------------------------------------
RONALD J. ADAMS President/Director Life Insurance 2,191.80 -
- ---------------------------------------------------------------------------------------------------------------------------------
STEPHEN M. ADAMS V.P.-Prod. Salary 13,750.00 -
- ---------------------------------------------------------------------------------------------------------------------------------
STEPHEN M. ADAMS V.P.-Prod. Auto Benefit 541.72
- ---------------------------------------------------------------------------------------------------------------------------------
BURTON R. CHASNOV Exec. V.P./C.F.O. Salary 15,000.00 -
- ---------------------------------------------------------------------------------------------------------------------------------
BURTON R. CHASNOV Exec. V.P./C.F.O. Auto Benefit 656.16
- ---------------------------------------------------------------------------------------------------------------------------------
BURTON R. CHASNOV Exec. V.P./C.F.O. Disability Insur. 1,826.50
- ---------------------------------------------------------------------------------------------------------------------------------
BURTON R. CHASNOV Exec. V.P./C.F.O. Rent [3] 3,716.48
- ---------------------------------------------------------------------------------------------------------------------------------
R & H PARTNERS N/A Rent [3] 5,512.00
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
Total Payments to Insiders $ 83,085.62
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
[1] Represents 10% salary deferral beginning on December 15, 1997.
[2] Represents 5% salary deferral beginning on December 15, 1997.
[3] Postpetition Rent.
<PAGE>
LIST OF OMITTED SCHEDULES
1. Schedule of Cash Collateral of Mellon Bank Account Other Cash Receipts for
the Period January 1, 1998 to January 31, 1998 (Account Number 2-703-791)
[4(a)(1)]
2. Schedules of Mellon Bank Account Cash Disbursements for the Period January 1,
1998 to January 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)
Houston - 4(b)(6)
Lakeland - 4(b)(7)
Chicago - 4(b)(8)
Corporate - 4(b)(9)
Wires & Bank Debits - 4(b)(10)
3. Schedule of Huntington Bank Payroll Account Cash Disbursements for the Period
January 1, 1998 to January 31, 1998 (Account Number 1603427364) [4(g)(1)]
4. Schedules of Accounts Receivable Aging, Post Petition Accounts Payable Aging,
and Status of Post Petition Taxes as of January 31, 1998 [5]
5. Schedule of all Operating Bank Account Reconciliations and Cash on Hand as of
January 31, 1998 [6(a) to 6(c)]
6. Schedule of Mellon Bank Account Last Checks Written as of January 31, 1998
(Account Number 2-953-131) [6(d)]
7. Questionnaire and Insurance Information [8]
8. Responses to Questionnaire [8(a)]
9. Personnel Headcount Activity [9]
10. Mellon Bank Statement of Account for the period December 31, 1997 to January
30, 1998 (Account Number 2-703-791)
11. Mellon Bank Statement of Account for the period December 31, 1997 to January
30, 1998 (Account Number 2-953-131)
12. Merrill Lynch Bank Statement of Account for the period January 1, 1998 to
January 30, 1998 (Account Number 64A-07644)
13. Great Western Bank Statement of Account for the period January 1, 1998 to
January 31, 1998 (Account Number 446-818297-7)
Page 1 of 2
<PAGE>
14. NationsBank Statement of Account for the period January 1, 1998 to January
31, 1998 (Account Number 010-333-0164)
15. Huntington National Bank Statement of Account for the period January 1, 1998
to January 31, 1998 (Account Number 1603427364)
16. SunTrust Bank Statement of Account for the period January 1, 1998 to January
31, 1998 (Account Number 0215252138566)
17. SunTrust Bank Statement of Account for the period January 1, 1998 to January
31, 1998 (Account Number 0288008734682)
18. SunTrust Bank Statement of Account for the period January 1, 1998 to January
31, 1998 (Account Number 0710629932410)
19. SunTrust Bank Statement of Account for the period January 1, 1998 to January
31, 1998 (Account Number 0526001124765)
20. SunTrust Bank Statement of Account for the period January 1, 1998 to January
31, 1998 (Account Number 0031000213063)
21. Payroll Tax Deposit Confirmation from Automatic Data Processing for January
20, 1998
22. Correspondence from Automatic Data Processing dated February 16, 1998
confirming electronic bank debits for payroll tax deposits
Page 2 of 2
CONSOLIDATED STAINLESS, INC. Exhibit 99.3
Case No.: 97-02593JJF ACCRUAL BASIS-1
OFFICE OF THE UNITED STATES TRUSTEE - REGION 3
MONTHLY OPERATING REPORT
for the month ending February 28, 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 March 13, 1998
- ------------------------------------ -----------------------------------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
/s/ Daniel A. Rashy Controller
- ------------------------------------ -----------------------------------------
SIGNATURE OF PREPARER TITLE
Daniel A. Rashy March 13, 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. ACCRUAL BASIS-2
COMPARATIVE BALANCE SHEET
<TABLE>
<CAPTION>
Case No.: 97-02593JJF 1ST QUARTER
---------------
- ----------------------------------------------------------------------------------------------------------
ASSETS MONTH MONTH MONTH
--------------------------------------------
SCHEDULE JAN 1998 FEB 1998
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. CASH 201,223 67,085
- ----------------------------------------------------------------------------------------------------------
2. ACCOUNTS RECEIVABLE (NET) 4,996,602 5,191,159
- ----------------------------------------------------------------------------------------------------------
3. INVENTORY 16,446,051 15,345,620
- ----------------------------------------------------------------------------------------------------------
4. NOTES RECEIVABLE 256,630 258,739
- ----------------------------------------------------------------------------------------------------------
5. PREPAID EXPENSES* 205,387 267,134
- ----------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) 2(a) 568,397 539,792
- ----------------------------------------------------------------------------------------------------------
7. TOTAL CURRENT ASSETS 22,674,290 21,669,529
- ----------------------------------------------------------------------------------------------------------
8. PROPERTY, PLANT & EQUIPMENT 20,197,174 20,186,965
- ----------------------------------------------------------------------------------------------------------
9. LESS: ACCUMULATED
DEPRECIATION / DEPLETION 5,188,159 5,312,252
- ----------------------------------------------------------------------------------------------------------
10. NET PROPERTY, PLANT & EQUIPMENT 15,009,015 14,874,713
- ----------------------------------------------------------------------------------------------------------
11. DUE FROM AFFILIATES & INSIDERS 48,547 48,705
- ----------------------------------------------------------------------------------------------------------
12. INTANGIBLES (ATTACH LIST) - -
- ----------------------------------------------------------------------------------------------------------
13. OTHER (ATTACH LIST) 2(b) 240,531 264,733
- ----------------------------------------------------------------------------------------------------------
14. TOTAL ASSETS 37,972,383 36,857,680
- ----------------------------------------------------------------------------------------------------------
POSTPETITION LIABILITIES
- ----------------------------------------------------------------------------------------------------------
15. ACCOUNTS PAYABLE 76,388 182,287
- ----------------------------------------------------------------------------------------------------------
16. TAXES PAYABLE 56,028 83,207
- ----------------------------------------------------------------------------------------------------------
17. NOTES PAYABLE - -
- ----------------------------------------------------------------------------------------------------------
18. PROFESSIONAL FEES 274,194 326,736
- ----------------------------------------------------------------------------------------------------------
19. SECURED DEBT 2,253,181 3,713,045
- ----------------------------------------------------------------------------------------------------------
20. DUE TO AFFILIATES & INSIDERS - -
- ----------------------------------------------------------------------------------------------------------
21. OTHER (ATTACH LIST) 2(c) 537,782 610,118
- ----------------------------------------------------------------------------------------------------------
22. TOTAL POSTPETITION LIABILITIES 3,197,573 4,915,393
- ----------------------------------------------------------------------------------------------------------
PREPETITION LIABILITIES
- ----------------------------------------------------------------------------------------------------------
23. SECURED DEBT 22,172,905 20,201,627
- ----------------------------------------------------------------------------------------------------------
24. PRIORITY DEBT 674,158 673,134
- ----------------------------------------------------------------------------------------------------------
25. UNSECURED DEBT 10,384,663 10,291,292
- ----------------------------------------------------------------------------------------------------------
26. OTHER (ATTACH LIST) 2(d) 565,537 551,067
- ----------------------------------------------------------------------------------------------------------
27. TOTAL PREPETITION LIABILITIES 33,797,263 31,717,120
- ----------------------------------------------------------------------------------------------------------
28. TOTAL LIABILITIES 36,994,836 36,632,513
- ----------------------------------------------------------------------------------------------------------
EQUITY
- ----------------------------------------------------------------------------------------------------------
29. OWNERS' PREPETITION EQUITY 2,153,841 2,153,841
- ----------------------------------------------------------------------------------------------------------
30. POSTPETITION CUMULATIVE
PROFIT OR (LOSS) (1,176,294) (1,928,674)
- ----------------------------------------------------------------------------------------------------------
31. TOTAL EQUITY (DEFICIT) 977,547 225,167
- ----------------------------------------------------------------------------------------------------------
32. TOTAL LIABILITIES & OWNERS' EQUITY 37,972,383 36,857,680
- ----------------------------------------------------------------------------------------------------------
</TABLE>
* Of this amount $122,288 and $215,966 represents prepaid inventory for January
and February 1998, respectively.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-2(a)
OTHER CURRENT ASSETS
<TABLE>
<CAPTION>
Case No.: 97-02593JJF 1ST QUARTER
-------------
- -----------------------------------------------------------------------------------------
MONTH MONTH MONTH
---------------------------------------
JAN 1998 FEB 1998
- -----------------------------------------------------------------------------------------
<S> <C> <C> <C>
OTHER RECEIVABLES 122,855 125,917
- -----------------------------------------------------------------------------------------
DEFERRED FINANCING COSTS (NET) 47,500 15,833
- -----------------------------------------------------------------------------------------
DEFERRED INCOME TAXES 398,042 398,042
- -----------------------------------------------------------------------------------------
TOTAL OTHER CURRENT ASSETS 568,397 539,792
- -----------------------------------------------------------------------------------------
</TABLE>
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-2(b)
OTHER ASSETS
<TABLE>
<CAPTION>
Case No.: 97-02593JJF 1ST QUARTER
-------------
- -----------------------------------------------------------------------------------------
MONTH MONTH MONTH
---------------------------------------
JAN 1998 FEB 1998
- -----------------------------------------------------------------------------------------
<S> <C> <C> <C>
SECURITY & MISCELLANEOUS DEPOSITS 63,793 63,793
- -----------------------------------------------------------------------------------------
RETAINER - SAUL, EWING, REMICK, & SAUL, LLP 91,738 91,738
- -----------------------------------------------------------------------------------------
RETAINER - GREENBERG, TRAURIG, HOFFMAN
LIPOFF, ROSEN & QUENTEL, PA 50,000 49,202
- -----------------------------------------------------------------------------------------
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
- -----------------------------------------------------------------------------------------
RETAINER - GENESIS MERCHANT GROUP
SECURITIES, LLC - 12,500
- -----------------------------------------------------------------------------------------
TOTAL OTHER ASSETS 240,531 264,733
- -----------------------------------------------------------------------------------------
</TABLE>
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-2(c)
OTHER POSTPETITION LIABILITIES
<TABLE>
<CAPTION>
Case No.: 97-02593JJF 1ST QUARTER
-------------
- -----------------------------------------------------------------------------------------
MONTH MONTH MONTH
---------------------------------------
JAN 1998 FEB 1998
- -----------------------------------------------------------------------------------------
<S> <C> <C> <C>
BOOK OVERDRAFT 129,626 113,637
- -----------------------------------------------------------------------------------------
ACCRUED PAYROLL AND RELATED TAXES 108,050 100,071
- -----------------------------------------------------------------------------------------
ACCRUED INTEREST PAYABLE 220,834 377,567 *
- -----------------------------------------------------------------------------------------
ACCRUED EXPENSES - OTHER 48,929 18,843
- -----------------------------------------------------------------------------------------
ACCRUED PROPERTY TAXES 28,891 -
- -----------------------------------------------------------------------------------------
ACCRUED OTHER TAXES PAYABLE 1,452 -
- -----------------------------------------------------------------------------------------
TOTAL OTHER POSTPETITION LIABILITIES 537,782 610,118
- -----------------------------------------------------------------------------------------
</TABLE>
*Interest has been accrued for accounting purposes only.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-2(d)
OTHER PREPETITION LIABILITIES
<TABLE>
<CAPTION>
Case No.: 97-02593JJF 1ST QUARTER
-------------
- -----------------------------------------------------------------------------------------
MONTH MONTH MONTH
---------------------------------------
JAN 1998 FEB 1998
- -----------------------------------------------------------------------------------------
<S> <C> <C> <C>
PROPERTY TAX ACCRUAL 32,125 17,655
- -----------------------------------------------------------------------------------------
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 13,612 13,612
- -----------------------------------------------------------------------------------------
DEFERRED INCOME TAXES 398,042 398,042
- -----------------------------------------------------------------------------------------
TOTAL OTHER PREPETITION LIABILITIES 565,537 551,067
- -----------------------------------------------------------------------------------------
</TABLE>
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-3
<TABLE>
<CAPTION>
Case No.: 97-02593JJF 1ST QUARTER
---------------
- ----------------------------------------------------------------------------------------------------
REVENUES MONTH MONTH MONTH
---------------------------------------------
COMMENTS JAN 1998 FEB 1998
- ----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. GROSS REVENUES 2,349,738 2,115,509
- ----------------------------------------------------------------------------------------------------
2. LESS: RETURNS & DISCOUNTS (119,942) (77,441)
- ----------------------------------------------------------------------------------------------------
3. NET REVENUE 2,229,796 2,038,068
- ----------------------------------------------------------------------------------------------------
COST OF GOODS SOLD
- ----------------------------------------------------------------------------------------------------
4. BEGINNING INVENTORY 17,434,164 16,446,051
- ----------------------------------------------------------------------------------------------------
5. ADD: PURCHASES & CAPITALIZED OVERHEAD 1,053,632 940,046
- ----------------------------------------------------------------------------------------------------
6. LESS: ENDING INVENTORY 16,446,051 15,345,620
- ----------------------------------------------------------------------------------------------------
7. COST OF GOODS SOLD 2,041,745 2,040,477
- ----------------------------------------------------------------------------------------------------
8. GROSS PROFIT 188,051 (2,409)
- ----------------------------------------------------------------------------------------------------
OPERATING EXPENSES
- ----------------------------------------------------------------------------------------------------
9. OFFICER / INSIDER COMPENSATION 80,968 81,423
- ----------------------------------------------------------------------------------------------------
10. DIRECT LABOR / SALARIES 333,841 276,561
- ----------------------------------------------------------------------------------------------------
11. PAYROLL TAXES 40,939 32,848
- ----------------------------------------------------------------------------------------------------
12. RENT & LEASE EXPENSE [1] 26,487 24,479
- ----------------------------------------------------------------------------------------------------
13. INSURANCE 55,117 45,359
- ----------------------------------------------------------------------------------------------------
14. DEPRECIATION / DEPLETION / AMORTIZATION 156,772 155,760
- ----------------------------------------------------------------------------------------------------
15. GENERAL & ADMINISTRATIVE 66,949 51,565
- ----------------------------------------------------------------------------------------------------
16. LESS: CAPITALIZED OVERHEAD (219,045) (226,286)
- ----------------------------------------------------------------------------------------------------
17. TOTAL OPERATING EXPENSES 542,028 441,709
- ----------------------------------------------------------------------------------------------------
18. OPERATING INCOME (LOSS) (353,977) (444,118)
- ----------------------------------------------------------------------------------------------------
OTHER INCOME & EXPENSES
- ----------------------------------------------------------------------------------------------------
19. INTEREST INCOME (2,804) (2,578)
- ----------------------------------------------------------------------------------------------------
20. OTHER EXPENSES (ATTACH LIST) - -
- ----------------------------------------------------------------------------------------------------
21. INTEREST EXPENSE 238,286 246,723
- ----------------------------------------------------------------------------------------------------
22. OTHER (ATTACH LIST) [2] - (84,594)
- ----------------------------------------------------------------------------------------------------
23. NET OTHER INCOME & EXPENSES 235,482 159,551
- ----------------------------------------------------------------------------------------------------
REORGANIZATION EXPENSES
- ----------------------------------------------------------------------------------------------------
24. PROFESSIONAL FEES 266,254 139,084
- ----------------------------------------------------------------------------------------------------
25. U.S. TRUSTEE FEES 3,333 3,333
- ----------------------------------------------------------------------------------------------------
26. OTHER (ATTACH LIST) [3] - 6,294
- ----------------------------------------------------------------------------------------------------
27. TOTAL REORGANIZATION EXPENSES 269,587 148,711
- ----------------------------------------------------------------------------------------------------
28. INCOME TAX - -
- ----------------------------------------------------------------------------------------------------
29. NET PROFIT (LOSS) (859,046) (752,380)
- ----------------------------------------------------------------------------------------------------
</TABLE>
[1] Includes $9,228 and $9,188 of rent expense from facilities leased from
insiders for January and and February 1998, respectively.
[2] Income due to proceeds from business interruption insurance.
[3] Travel costs for January and February of $5,160 and General Administrative
costs of $1,134.
<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*
- ---------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
CASH RECEIPTS AND -------------------------------------------
DISBURSEMENTS JAN 1998 FEB 1998
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 658.17 187,558.23
- ---------------------------------------------------------------------------------------------------
RECEIPTS
- ---------------------------------------------------------------------------------------------------
2. CASH SALES - -
- ---------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE 3,309,658.27 1,770,590.97
- ---------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) - -
- ---------------------------------------------------------------------------------------------------
5. SALE OF ASSETS - -
- ---------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) 101,414.92 89,979.65
- ---------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 3,411,073.19 1,860,570.62
- ---------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 3,411,731.36 2,048,128.85
- ---------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ---------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Revolving Line of Credit Pay Downs 1,971,278.27
- ---------------------------------------------------------------------------------------------------
2/17/98 Credit Card Merchant Fees 40.05
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 1,971,318.32
---------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 76,810.53
- ---------------------------------------------------------------------------------------------------
</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
- ---------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
CASH RECEIPTS AND -------------------------------------------
DISBURSEMENTS JAN 1998 FEB 1998
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH (83,975.50) (148,857.59)
- ---------------------------------------------------------------------------------------------------
RECEIPTS
- ---------------------------------------------------------------------------------------------------
2. CASH SALES - -
- ---------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE - -
- ---------------------------------------------------------------------------------------------------
4. REVOLVER ADVANCES 1,336,922.58 1,459,863.84
- ---------------------------------------------------------------------------------------------------
5. OTHER (ATTACH LIST) - 19,367.74
- ---------------------------------------------------------------------------------------------------
6. ADJUSTMENT TO RECONCILE 10.00 -
- ---------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 1,336,932.58 1,479,231.58
- ---------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 1,252,957.08 1,330,373.99
- ---------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ---------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------
Auburndale (See Attached List) 4(b)(2) 80,601.41
- ---------------------------------------------------------------------------------------------------
Apopka (See Attached List) 4(b)(3) 24,663.88
- ---------------------------------------------------------------------------------------------------
California (See Attached List) 4(b)(4) 5,997.39
- ---------------------------------------------------------------------------------------------------
Acworth (See Attached List) 4(b)(5) 1,374.09
- ---------------------------------------------------------------------------------------------------
Jacksonville (See Attached List) 4(b)(6) 91,577.37
- ---------------------------------------------------------------------------------------------------
Houston (See Attached List) 4(b)(7) 14,787.48
- ---------------------------------------------------------------------------------------------------
Lakeland (See Attached List) 4(b)(8) 11,015.54
- ---------------------------------------------------------------------------------------------------
Chicago (See Attached List) 4(b)(9) 5,526.21
- ---------------------------------------------------------------------------------------------------
Corporate (See Attached List) 4(b)(10) 282,554.04
- ---------------------------------------------------------------------------------------------------
Wires & Bank Debits (See Attached List) 4(b)(11) 945,145.42
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 1,463,242.83
---------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) (132,868.84)
- ---------------------------------------------------------------------------------------------------
</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
- ---------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
CASH RECEIPTS AND -------------------------------------------
DISBURSEMENTS JAN 1998 FEB 1998
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 39.33 39.56
- ---------------------------------------------------------------------------------------------------
RECEIPTS
- ---------------------------------------------------------------------------------------------------
2. CASH SALES - -
- ---------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE - -
- ---------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) - -
- ---------------------------------------------------------------------------------------------------
5. SALE OF ASSETS - -
- ---------------------------------------------------------------------------------------------------
6. INTEREST INCOME 0.23 0.23
- ---------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 0.23 0.23
- ---------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 39.56 39.79
- ---------------------------------------------------------------------------------------------------
<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) 39.79
- ---------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by
cash on a separate form. Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(d)
<TABLE>
<CAPTION>
Bank: Great Western
Case No.: 97-02593JJF Account No.: 446-818297-7
Account Type: Business Checking
- ---------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
CASH RECEIPTS AND -------------------------------------------
DISBURSEMENTS JAN 1998 FEB 1998
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 15.50 237.85
- ---------------------------------------------------------------------------------------------------
RECEIPTS
- ---------------------------------------------------------------------------------------------------
2. CASH SALES - -
- ---------------------------------------------------------------------------------------------------
3. DEPOSIT PETTY CASH CHECK 430.55 -
- ---------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) - -
- ---------------------------------------------------------------------------------------------------
5. SALE OF ASSETS - -
- ---------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) - -
- ---------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 430.55 -
- ---------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 446.05 237.85
- ---------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ---------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
2004 2/5/98 Mellon Bank Trans. A/R Dep. 81.37
- ---------------------------------------------------------------------------------------------------
2/28/98 Service Charge 8.20
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 89.57
--------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 148.28
- ---------------------------------------------------------------------------------------------------
</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
- ---------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
CASH RECEIPTS AND -------------------------------------------
DISBURSEMENTS JAN 1998 FEB 1998
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 43.04 1.03
- ---------------------------------------------------------------------------------------------------
RECEIPTS
- ---------------------------------------------------------------------------------------------------
2. CASH SALES - -
- ---------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE - -
- ---------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) - -
- ---------------------------------------------------------------------------------------------------
5. SALE OF ASSETS - -
- ---------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) - -
- ---------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS - -
- ---------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 43.04 1.03
- ---------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ---------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
2/27/98 Service Charge 10.00
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 10.00
--------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) (8.97)
- ---------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash
on a separate form.
Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(f)
<TABLE>
<CAPTION>
Bank: Comerica Bank - Texas
Case No.: 97-02593JJF Account No.: 7881022961
Account Type: Business Checking
- ---------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
CASH RECEIPTS AND -------------------------------------------
DISBURSEMENTS JAN 1998 FEB 1998
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 678.19 -
- ---------------------------------------------------------------------------------------------------
RECEIPTS
- ---------------------------------------------------------------------------------------------------
2. CASH SALES - -
- ---------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE - -
- ---------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) - -
- ---------------------------------------------------------------------------------------------------
5. SALE OF ASSETS - -
- ---------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) - -
- ---------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS - -
- ---------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 678.19 -
- ---------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ---------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ---------------------------------------------------------------------------------------------------
<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(g)
<TABLE>
<CAPTION>
Bank: Huntington Nat'l Bank
Case No.: 97-02593JJF Account No.: 1603427364
Account Type: Payroll
- ---------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
CASH RECEIPTS AND -------------------------------------------
DISBURSEMENTS JAN 1998 FEB 1998
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 22,278.09 23,330.02
- ---------------------------------------------------------------------------------------------------
RECEIPTS
2. CASH SALES - -
- ---------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE - -
- ---------------------------------------------------------------------------------------------------
4. DEPOSITS 275,000.00 232,500.00
- ---------------------------------------------------------------------------------------------------
5. SALE OF ASSETS - -
- ---------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) - -
- ---------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 275,000.00 232,500.00
- ---------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 297,278.09 255,830.02
- ---------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ---------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
See Attached 255,214.82
- ---------------------------------------------------------------------------------------------------
2/13/98 Service Charge 53.95
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 255,268.77
--------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 561.25
- ---------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash
on a separate form.
Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(h)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, Cent. FL N.A.
Case No.: 97-02593JJF Account No.: 0215252138566
Account Type: Payroll
- ---------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
CASH RECEIPTS AND -------------------------------------------
DISBURSEMENTS JAN 1998 FEB 1998
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH (543.69) (543.69)
- ---------------------------------------------------------------------------------------------------
RECEIPTS
- ---------------------------------------------------------------------------------------------------
2. CASH SALES - -
- ---------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE - -
- ---------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) - -
- ---------------------------------------------------------------------------------------------------
5. SALE OF ASSETS - -
- ---------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) - -
- ---------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS - -
- ---------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE (543.69) (543.69)
- ---------------------------------------------------------------------------------------------------
<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) (543.69)
- ---------------------------------------------------------------------------------------------------
</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(i)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, N. FL N.A.
Case No.: 97-02593JJF Account No.: 0288008734682
Account Type: Business Checking
- ---------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
CASH RECEIPTS AND -------------------------------------------
DISBURSEMENTS JAN 1998 FEB 1998
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH (28.73) 3,400.57
- ---------------------------------------------------------------------------------------------------
RECEIPTS
- ---------------------------------------------------------------------------------------------------
2. CASH SALES - -
- ---------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE 3,444.30 92.06
- ---------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) - -
- ---------------------------------------------------------------------------------------------------
5. SALE OF ASSETS - -
- ---------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) - -
- ---------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 3,444.30 92.06
- ---------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 3,415.57 3,492.63
- ---------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ---------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
2/24/98 Check Printing Charge 41.45
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 41.45
--------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 3,451.18
- ---------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash
on a separate form.
Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(j)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, Cent. FL N.A.
Case No.: 97-02593JJF Account No.: 0710629932410
Account Type: Business Checking
- ---------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
CASH RECEIPTS AND -------------------------------------------
DISBURSEMENTS JAN 1998 FEB 1998
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH 426.17 917.50
- ---------------------------------------------------------------------------------------------------
RECEIPTS
- ---------------------------------------------------------------------------------------------------
2. CASH SALES - -
- ---------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE 504.28 728.49
- ---------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) - -
- ---------------------------------------------------------------------------------------------------
5. SALE OF ASSETS - -
- ---------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) - -
- ---------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 504.28 728.49
- ---------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 930.45 1,645.99
- ---------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ---------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
2/13/98 Mellon Bank Trans A/R Dep. 632.49
- ---------------------------------------------------------------------------------------------------
2/17/98 Mellon Bank Trans A/R Dep. 96.00
- ---------------------------------------------------------------------------------------------------
2/24/98 Mellon Bank Trans A/R Dep. 523.75
- ---------------------------------------------------------------------------------------------------
2/27/98 Service Charge 12.54
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 1,264.78
--------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 381.21
- ---------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash
on a separate form.
Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(k)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, Mid-FL N.A.
Case No.: 97-02593JJF Account No.: 0526001124765
Account Type: Business Checking
- ---------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
CASH RECEIPTS AND -------------------------------------------
DISBURSEMENTS JAN 1998 FEB 1998
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH (2.55) 23.88
- ---------------------------------------------------------------------------------------------------
RECEIPTS
- ---------------------------------------------------------------------------------------------------
2. CASH SALES - -
- ---------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE 41.81 -
- ---------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) - -
- ---------------------------------------------------------------------------------------------------
5. SALE OF ASSETS - -
- ---------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) - -
- ---------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 41.81 -
- ---------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE 39.26 23.88
- ---------------------------------------------------------------------------------------------------
<CAPTION>
CURRENT MONTH DISBURSEMENTS
- ---------------------------------------------------------------------------------------------------
CHECK
NUMBER DATE PAYEE PURPOSE AMOUNT
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
2/27/98 Service Charge 13.97
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM BANK ACCOUNT 13.97
--------------
END OF MONTH BALANCE (SHOULD EQUAL ACCRUAL BASIS-6, LINE 5) 9.91
- ---------------------------------------------------------------------------------------------------
</TABLE>
Complete one form for each bank account. List disbursements made by cash
on a separate form.
Attach additional sheets if necessary.
<PAGE>
CONSOLIDATED STAINLESS, INC. ACCRUAL BASIS-4(l)
<TABLE>
<CAPTION>
Bank: SunTrust Bank, Mid-FL N.A.
Case No.: 97-02593JJF Account No.: 0031000213063
Account Type: Business Checking
- ---------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
CASH RECEIPTS AND -------------------------------------------
DISBURSEMENTS JAN 1998 FEB 1998
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. CASH - BEGINNING OF MONTH (4.45) -
- ---------------------------------------------------------------------------------------------------
RECEIPTS
- ---------------------------------------------------------------------------------------------------
2. CASH SALES - -
- ---------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE - -
- ---------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (ATTACH LIST) - -
- ---------------------------------------------------------------------------------------------------
5. SALE OF ASSETS - -
- ---------------------------------------------------------------------------------------------------
6. REFUND OVERDRAWN SERVICE CHARGE 4.45 -
- ---------------------------------------------------------------------------------------------------
7. TOTAL RECEIPTS 4.45 -
- ---------------------------------------------------------------------------------------------------
8. TOTAL CASH AVAILABLE - -
- ---------------------------------------------------------------------------------------------------
<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-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
- -------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<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] 25,000.00 25,000.00 59,189.66
- -------------------------------------------------------------------------------------------------------------
2. BDO Seidman, LLP debtor accountant [1] 20,267.60 20,267.60 20,267.60
- -------------------------------------------------------------------------------------------------------------
3. Glickstein, Laval, Carris tax consultant [1] 1,228.80 1,228.80 1,228.80
- -------------------------------------------------------------------------------------------------------------
4. Genesis Merchant Group investment banker [2] 12,500.00 12,500.00 12,500.00
- -------------------------------------------------------------------------------------------------------------
5. Slusser Associates, Inc. investment banker [2] 12,500.00 12,500.00 12,500.00
- -------------------------------------------------------------------------------------------------------------
6. Total Payments to Professionals 71,496.40 71,496.40 105,686.06
- -------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------
ADEQUATE PROTECTION PAYMENTS
- ------------------------------------------------------------------------------------------------
SCHEDULED AMOUNTS
MONTHLY PAID TOTAL
PAYMENTS DURING UNPAID
NAME OF CREDITOR DUE MONTH POSTPETITION
- ------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
1. N/A
- ------------------------------------------------------------------------------------------------
2.
- ------------------------------------------------------------------------------------------------
3.
- ------------------------------------------------------------------------------------------------
4.
- ------------------------------------------------------------------------------------------------
5.
- ------------------------------------------------------------------------------------------------
6.
- ------------------------------------------------------------------------------------------------
7.
- ------------------------------------------------------------------------------------------------
8. TOTAL
- ------------------------------------------------------------------------------------------------
</TABLE>
[1] Per court order dated December 16, 1997 authorizing the payment of
Administrative Fees.
[2] Per court order dated February 2, 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 $ 21,634.62 3,605.76 [1]
- ----------------------------------------------------------------------------------------------------------
HARVEY B. ADAMS CEO/Chairman Life Insurance 1,887.30 -
- ----------------------------------------------------------------------------------------------------------
RONALD J. ADAMS President/Director Salary 13,701.92 1,081.74 [2]
- ----------------------------------------------------------------------------------------------------------
RONALD J. ADAMS President/Director Life Insurance 2,191.80 -
- ----------------------------------------------------------------------------------------------------------
STEPHEN M. ADAMS V.P.-Prod. Salary 13,750.00 -
- ----------------------------------------------------------------------------------------------------------
BURTON R. CHASNOV Exec. V.P./C.F.O. Salary 15,000.00 -
- ----------------------------------------------------------------------------------------------------------
BURTON R. CHASNOV Exec. V.P./C.F.O. Disability Insur. 62.50 -
- ----------------------------------------------------------------------------------------------------------
BURTON R. CHASNOV Exec. V.P./C.F.O. Rent 3,676.36 -
- ----------------------------------------------------------------------------------------------------------
R & H PARTNERS N/A Rent 5,512.00 -
- ----------------------------------------------------------------------------------------------------------
Total Payments to Insiders $ 77,416.50
- ----------------------------------------------------------------------------------------------------------
</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 February 1, 1998 to February 28, 1998 (Account Number 2-703-791)
[4(a)(1)]
2. Schedule of Mellon Bank Account Other Cash Receipts for the Period February
1, 1998 to February 28, 1998 (Account Number 2-953-131) [4(b)(1)]
3. Schedules of Mellon Bank Account Cash Disbursements for the Period January 1,
1998 to January 31, 1998 (Account Number 2-953-131):
Auburndale - 4(b)(2)
Apopka - 4(b)(3)
California - 4(b)(4)
Acworth - 4(b)(5)
Jacksonville - 4(b)(6)
Houston - 4(b)(7)
Lakeland - 4(b)(8)
Chicago - 4(b)(9)
Corporate - 4(b)(10)
Wires & Bank Debits - 4(b)(11)
4. Schedule of Huntington Bank Payroll Account Cash Disbursements for the Period
February 1, 1998 to February 28, 1998 (Account Number 1603427364) [4(g)(1)]
5. Schedules of Accounts Receivable Aging, Post Petition Accounts Payable Aging,
and Status of Post Petition Taxes as of February 28, 1998 [5]
6. Schedule of all Operating Bank Account Reconciliations and Cash on Hand as of
February 28, 1998 [6(a) to 6(c)]
7. Schedule of Mellon Bank Account Last Checks Written as of February 28, 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 January 30, 1998 to February
27, 1998 (Account Number 2-703-791)
12. Mellon Bank Statement of Account for the period January 30, 1998 to February
27, 1998 (Account Number 2-953-131)
13. Merrill Lynch Bank Statement of Account for the period January 31, 1998 to
February 27, 1998 (Account Number 64A-07644)
Page 1 of 2
<PAGE>
LIST OF OMITTED SCHEDULES
14. Great Western Bank Statement of Account for the period February 1, 1998 to
February 28, 1998 (Account Number 446-818297-7)
15. NationsBank Statement of Account for the period February 1, 1998 to February
28, 1998 (Account Number 010-333-0164)
16. Huntington National Bank Statement of Account for the period February 1,
1998 to February 28, 1998 (Account Number 1603427364)
17. SunTrust Bank Statement of Account for the period February 1, 1998 to
February 28, 1998 (Account Number 0215252138566)
18. SunTrust Bank Statement of Account for the period February 1, 1998 to
February 28, 1998 (Account Number 0288008734682)
19. SunTrust Bank Statement of Account for the period February 1, 1998 to
February 28, 1998 (Account Number 0710629932410)
20. SunTrust Bank Statement of Account for the period February 1, 1998 to
February 28, 1998 (Account Number 0526001124765)
21. Correspondence from Automatic Data Processing dated February 16, 1998
confirming electronic bank debits for payroll tax deposits
Page 2 of 2
