EX-99.1 2 v237722_ex99-1.htm EXHIBIT 99.1 Unassociated Document
Exhibit 99.1
 
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
         
         
In re Evergreen Solar, Inc.
    Case No. 11-12590 (MFW)
                Debtor
 
Reporting Period: 8/16/2011 - 8/27/2011
         
         
MONTHLY OPERATING REPORT
File with Court and submit copy to United States Trustee within 20 days after end of month.
         
         
Submit copy of report to any official committee appointed in the case.
       
         
   
Document
Explanation
Affidavit/
Supplement Attached
REQUIRED DOCUMENTS
Form No.
Attached
Attached
Schedule of Cash Receipts and Disbursements
MOR-1
X
   
     Bank Reconciliation (or copies of debtor's bank reconciliations)
MOR-1a
   
X
     Schedule of Professional Fees Paid
MOR-1b
X
   
     Copies of bank statements
     
X
     Cash disbursements journals
       
Statement of Operations
MOR-2
X
   
Balance Sheet
MOR-3
X
   
Status of Postpetition Taxes
MOR-4
   
X
    Copies of IRS Form 6123 or payment receipt
     
X
    Copies of tax returns filed during reporting period
     
X
Summary of Unpaid Postpetition Debts
MOR-4
     
    Listing of aged accounts payable
MOR-4
X
   
Accounts Receivable Reconciliation and Aging
MOR-5
X
   
Debtor Questionnaire
MOR-5
X
   


I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.


       
       
Signature of Joint Debtor
 
Date
 
       
       
/s/ Donald W. Reilly
 
9/30/2011
 
Signature of Authorized Individual*
 
Date
 
       
       
Donald W. Reilly
 
Chief Financial Officer
 
Printed Name of Authorized Individual
 
Title of Authorized Individual
 



*Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.

 
 

 
 
Evergreen Solar, Inc.
Case No. 11-12590 (MFW)
 
Schedule of Receipts and Disbursements

 
 $ amounts in 000's
 
Rolling Two-Week Forecast
   
Rolling Two-Week Actual
 
 Week ending
 
Aug-27
   
Aug-27
 
                 
 Receipts:
               
 Pre-petition receivables
  $ -     $ 1,325.3  
 Post-petition Inventory Sales
    -       -  
                 
 Total Receipts
  $ -     $ 1,325.3  
                 
 Disbursements
               
 Operating Disbursements
               
 Salaries & Benefits
  $ 110.2     $ 115.2  
 Rent, utilities and taxes
    64.0       -  
 Materials, fees and other
    340.9       77.7  
                 
 Total Operating Disbursements
  $ 515.1     $ 192.9  
                 
 Non-Operating Disbursements
               
 Severance
  $ 253.5     $ -  
 Other transition costs (Mid,Dev,GmbH)
    273.6       63.8  
 Ordinary Course Professionals - Non-op
    -       -  
 Debt reduction
    12,500.0       12,500.0  
 Restructuring Professionals
    -       -  
                 
 Total Non-Operating Disbursements
  $ 13,027.1     $ 12,563.8  
                 
 Total Disbursements
  $ 13,542.2     $ 12,756.7  
                 
 Net Cash Flow
  $ (13,542.2 )   $ (11,431.4 )
 
 
 

 

In re Evergreen Solar, Inc.
  Case No. 11-12590 (MFW)
                Debtor
  Reporting Period.: 8/16/2011 - 8/27/2011
 
THE FOLLOWING SECTION MUST BE COMPLETED
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES:   (FROM CURRENT MONTH  ACTUAL COLUMN)
TOTAL DISBURSEMENTS
  $ 12,757
    LESS:  TRANSFERS TO DEBTOR IN POSSESSION  ACCOUNTS
  $ -
    PLUS:   ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES  (i.e. from escrow accounts)
  $ -
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES
  $ 12,757

 
 

 

IN THE UNITED STATES BANKRUPTCY COURT
 
FOR THE DISTRICT OF DELAWARE
 
In re:
)
Chapter 11
 
)
 
EVERGREEN SOLAR, INC.,2
)
Case No. 11-12590 (MFW)
 
)
 
Debtor.
)
 
 
September 30, 2011
 
Office of the United States Trustee
 
Subject: Attestation Regarding Bank Account Reconciliations
 
The debtor, Evergreen Solar, Inc., hereby submits this attestation regarding bank account reconciliations in lieu of providing copies of bank statements and copies of all account reconciliations.
 
The debtor has, on a timely basis, performed all bank account reconciliation in the ordinary course of its business. Copies of bank account statements and reconciliations are available for inspection upon request by the United States Trustee’s Office.
 
 
/s/ Donald W. Reilly
 
Name: Donald W. Reilly
 
Position: Chief Financial Officer

Sworn to and Subscribed
before me on this 30th
day of September, 2011.
 
/s/ Elaine M. Rowe
 
Notary Public
 
   
My Commission Expires:
Oct. 3, 2014
 

 

2 The last four digits of the Debtor’s federal tax identification number are 2254. The Debtor’s mailing address is 138 Bartlett Street, Marlboro, MA 01752.

 
 

 


In re Evergreen Solar, Inc.
  Case No. 11-12590 (MFW)
                Debtor
    Reporting Period.: 8/16/2011 - 8/27/2011
                   
SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID
This schedule is to include all retained professional payments from case inception to current month.
 
Payee
Period Covered
Amount Approved
 
Check
Amount Paid
Year-To-Date
Payor
Number
Date
Fees
Expenses
Fees
Expenses
N/A
                 
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
 
 
 

 

In re Evergreen Solar, Inc.
 
Case No. 11-12590 (MFW)
                Debtor
Reporting Period.: 8/16/2011 - 8/27/2011
     
STATEMENT OF OPERATIONS
(Income Statement)
     
The Statement of Operations is to be prepared on an accrual basis.  The accrual basis of accounting recognizes revenue when it is
realized and expenses when they are incurred, regardless of when cash is actually received or paid.
 

         
Cumulative
REVENUES
 
Month
   
Filing to Date
Gross Revenues
  $ -     $  
Less:  Returns and Allowances
             
Net Revenue
  $ -     $  
COST OF GOODS SOLD
             
Beginning Inventory
             
Add: Purchases
             
Add: Cost of Labor
             
Add: Other Costs (attach schedule)
    68,106        
Less: Ending Inventory
             
Cost of Goods Sold
    68,106        
Gross Profit
    (68,106 )      
OPERATING EXPENSES
             
Advertising
             
Bad Debts
             
Employee Benefits Programs
    87,394        
Insider Compensation*
             
Insurance
             
Intercopany Marketing Fee
    201,727        
Office Expense
             
Pension & Profit-Sharing Plans
             
Repairs and Maintenance
             
Rent and Lease Expense
             
Salaries & Wages
    473,738        
Supplies / Materials
    23,300        
Taxes - Payroll
    26,750        
Taxes - Real Estate
             
Taxes - Other
             
Travel and Entertainment
    2,782        
Utilities
    58,987        
Other (attach schedule)
    27,853        
Total Operating Expenses Before Depreciation
    902,531        
Depreciation/Depletion/Amortization
    411,428        
Net Profit (Loss) Before Other Income & Expenses
    (1,382,065 )      
OTHER INCOME AND EXPENSES
             
Other Income (attach schedule)
    (317 )      
Interest Expense
             
Other Expense (attach schedule)
    4,651        
Net Profit (Loss) Before Reorganization Items
    (1,386,399 )      
REORGANIZATION ITEMS
             
Professional Fees
             
U. S. Trustee Quarterly Fees
             
Interest Earned on Accumulated Cash from Chapter 11 (see continuation sheet)
             
Gain (Loss) from Sale of Equipment
             
Other Reorganization Expenses (attach schedule)
             
Total Reorganization Expenses
             
Income Taxes
             
Net Profit (Loss)
  $ (1,386,399 )   $  
               
*"Insider" is defined in 11 U.S.C. Section 101(31).
             
 
 
 

 

In re Evergreen Solar, Inc.
Case No. 11-12590 (MFW)
              Debtor
As of.: 8/27/2011
     
BALANCE SHEET
     
The Balance Sheet is to be completed on an accrual basis only.  Pre-petition liabilities must be classified separately from postpetition obligations.

   
BOOK VALUE ON
 
ASSETS
 
PETITION DATE
 
CURRENT ASSETS
 
 
 
Unrestricted Cash and Equivalents
  $ 43,819,525  
Accounts Receivable (Net)
    3,707,999  
Intercompany Receivables
    83,857,983  
Inventories
    13,763,872  
Prepaid Cost of Inventory
    8,995,004  
Other Current Assets (attach schedule)
    15,788,647  
TOTAL CURRENT ASSETS
    169,933,030  
PROPERTY AND EQUIPMENT
       
Real Property and Improvements
    209,954,740  
Machinery and Equipment
    258,121,608  
Furniture, Fixtures and Office Equipment
    6,077,374  
Construction-in-Progress
    16,788,656  
Leasehold Improvements
    7,137,865  
Less Accumulated Depreciation
    (435,510,506 )
TOTAL PROPERTY & EQUIPMENT
    62,569,737  
OTHER ASSETS
       
Loans to Insiders*
    -  
Restricted Cash
    1,324,308  
Deferred Financing Costs
    7,009,382  
Loans and Related Interest Receivable
    8,785,535  
Prepaid Cost of Inventory
    63,743,742  
Investments in Subsidiaries and Intercompany Loans
    38,579,525  
Other Assets (attach schedule)
    -  
TOTAL OTHER ASSETS
    119,442,492  
         
TOTAL ASSETS
  $ 351,945,259  

   
BOOK VALUE AT END OF CURRENT
 
LIABILITIES AND OWNER EQUITY
 
REPORTING MONTH
 
LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition)
     
Accounts Payable
  $ 367,748  
Intercompany Payables
    274,079  
Accrued Employee Compensation
    463,458  
Amounts Due to Insiders*
    -  
Other Postpetition Liabilities (attach schedule)
    -  
TOTAL POSTPETITION LIABILITIES
    1,105,285  
LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)
       
Accounts Payable
    12,476,578  
Goods Received Not Invoiced
    386,821  
Intercompany Payables
    76,461,938  
Other Accrued Expenses
    6,001,893  
Accrued Employee Compensation
    -  
Accrued Debt Interest
    10,766,124  
Accrued Warranty
    4,346,764  
Secured Debt
    152,500,000  
Unsecured Debt
    208,306,000  
Debt Discount
    (18,401,150 )
Deferred Income Taxes
    1,204,049  
TOTAL PRE-PETITION LIABILITIES
    454,049,017  
         
TOTAL LIABILITIES
    455,154,302  
OWNER EQUITY
       
Capital Stock
    416,519  
Additional Paid-In Capital
    1,050,339,182  
Owner's Equity Account
       
Retained Earnings - Pre-Petition
    (1,152,579,412 )
Retained Earnings - Postpetition
    (1,386,399 )
Adjustments to Owner Equity (attach schedule)
       
Accumulated Other Comprehensive Income
    1,067  
NET OWNER EQUITY
    (103,209,043 )
         
TOTAL LIABILITIES AND OWNERS' EQUITY
  $ 351,945,259  
         
*"Insider" is defined in 11 U.S.C. Section 101(31).
       
 
 
 

 
 
In re Evergreen Solar, Inc.
Case No. 11-12590 (MFW)
              Debtor
Reporting Period.: 8/27/2011
     
     
BALANCE SHEET - continuation sheet


   
BOOK VALUE ON
 
ASSETS
 
PETITION DATE
 
Other Current Assets (from balance sheet)
     
Deferred Tax Assets
  $ 1,204,049  
Other Receivables (primarily interest paid on 4% notes)
    4,942,674  
Prepaid Expenses
    3,246,148  
Spare Parts, Net
    454,492  
Deferred Restructuring Costs
    5,853,943  
Other
    87,341  
OTHER CURRENT ASSETS
  $ 15,788,647  

 
 

 
 
IN THE UNITED STATES BANKRUPTCY COURT
 
FOR THE DISTRICT OF DELAWARE
 
In re:
)
Chapter 11
 
)
 
EVERGREEN SOLAR, INC.,1
)
Case No. 11-12590 (MFW)
 
)
 
Debtor.
)
 
 
September 30, 2011
 
Office of the United States Trustee

Subject: Attestation Regarding Postpetition Taxes
 
The debtor, Evergreen Solar, Inc., hereby submits this attestation regarding postpetition taxes.
 
All postpetition taxes for the debtor, which are not subject to dispute or reconciliation, are current. There are no material tax disputes or reconciliations.
 
 
 
/s/ Donald W. Reilly
 
Name: Donald W. Reilly
 
Position: Chief Financial Officer

Sworn to and Subscribed
before me on this 30th
day of September, 2011.
 
/s/ Elaine M. Rowe
 
Notary Public
 
   
My Commission Expires:
Oct. 3, 2014
 

 

1 The last four digits of the Debtor’s federal tax identification number are 2254. The Debtor’s mailing address is 138 Bartlett Street, Marlboro, MA 01752.
 
 

 
 
Evergreen Solar, Inc.
Case No. 11-12590 (MFW)
MOR-4 - AP Aging
 
Co Code
Vendor
Vend Name
Ref Number
Doc Nbr
Posting Date
Due Date
Amt in Local Curr
Current
0-30
Post-Petition
                 
1000
100783
Verizon
9782662200AUG-B
19030108
8/28/2011
8/25/2011
(28)
-
(28)
1000
100783
Verizon
9782662201AUG-B
19030112
8/28/2011
8/25/2011
(763)
-
(763)
4000
103448
Clipboard Engineering, LLC
2011-ESLR-01A
5200044312
8/28/2011
8/23/2011
(3,600)
-
(3,600)
4000
103468
Lawrence Felton
ADVANCESEPTCHINA
19030048
8/28/2011
8/24/2011
(1,400)
-
(1,400)
4000
103468
Douglas Miller
MILEAGEMERRIMAC
19030011
8/28/2011
8/11/2011
(80)
-
(80)
4000
103468
Tim Power
ATSVISIT08/2011
19030010
8/28/2011
8/18/2011
(102)
-
(102)
4000
103604
Lana Chan
ADVANCESEPTCHINA
19030050
8/28/2011
8/24/2011
(5,000)
-
(5,000)
4000
103649
Xiang Dai
ADVANCECHINA&US
19030049
8/28/2011
8/24/2011
(6,500)
-
(6,500)
4000
103753
Acton Technologies, Inc.
160024
5200044298
8/28/2011
9/15/2011
(160)
(160)
-
1000
103887
American Alarm & Communications,In
357191A
5200044357
8/28/2011
8/10/2011
(2,121)
-
(2,121)
1000
103971
Atlas Water Systems, Inc.
AW0000129539-B
5200044478
8/28/2011
9/18/2011
(2,459)
(2,459)
-
1000
104048
AT&T Mobility
824089012AUG11-B
19030201
8/28/2011
9/4/2011
(4,868)
(4,868)
-
1000
104130
Cintas Corporation
346364479
5200044302
8/28/2011
8/19/2011
(111)
-
(111)
1000
104203
Cintas Corporation
346364480
5200044300
8/28/2011
8/19/2011
(439)
-
(439)
1000
104227
Cintas Corporation
346364481
5200044301
8/28/2011
8/19/2011
(96)
-
(96)
1000
104259
Eagle Leasing Company
RI354408-B
5200044373
8/28/2011
8/30/2011
(26)
(26)
-
1000
104259
Eagle Leasing Company
RI358144
5200044319
8/28/2011
9/14/2011
(94)
(94)
-
1000
104259
Eagle Leasing Company
RI358144
5200044351
8/28/2011
9/14/2011
94
94
-
1000
104259
Eagle Leasing Company
RI358144-B
5200044356
8/28/2011
9/14/2011
(47)
(47)
-
1000
104259
Nationalgrid
2854757021AUG11
19030206
8/28/2011
9/13/2011
(9,003)
(9,003)
-
1000
104259
Nationalgrid
7837466035AUG11
19030205
8/28/2011
9/13/2011
(11,363)
(11,363)
-
1000
104259
Matheson Tri-Gas, Inc.
R107585815-B
5200044481
8/28/2011
9/20/2011
(81)
(81)
-
1000
104259
Matheson Tri-Gas, Inc.
R107587202-B
5200044483
8/28/2011
9/20/2011
(24)
(24)
-
1000
104259
Merrimac Tool Company, Inc.
21803
5200044457
8/28/2011
8/2/2011
(2,085)
-
(2,085)
1000
104259
Monster.com
4747192-6
19030125
8/28/2011
9/24/2011
(325)
(325)
-
1000
104259
Nstar Gas
16545790038AUG-B
19030132
8/28/2011
9/1/2011
(15)
(15)
-
1000
104259
Nstar Gas
27416070038AUG-B
19030130
8/28/2011
9/1/2011
(7)
(7)
-
1000
104259
Verizon
5083033198AUG-B
19030110
8/28/2011
8/19/2011
(12)
-
(12)
1000
104259
Verizon
5084811384AUG-B
19030106
8/28/2011
8/23/2011
(240)
-
(240)
1000
104259
Verizon
6178159381AUG-B
19030198
8/28/2011
8/31/2011
(779)
(779)
-
1000
104259
Waste Management of MA, Inc.
678004717347-B
5200044367
8/28/2011
8/1/2011
(78)
-
(78)
1000
104259
XO Communications
0245230146-B
19030061
8/28/2011
8/11/2011
(1,346)
-
(1,346)
1000
104259
Sprint Email Protection Services
6870057226-B
19030116
8/28/2011
9/13/2011
(477)
(477)
-
1000
104259
Automation Solutions Inc.
IN054479
5200044304
8/28/2011
9/8/2011
(1,427)
(1,427)
-
1000
104259
Easylink Services Corporation
07769341109-B
19030179
8/28/2011
9/2/2011
(52)
(52)
-
1000
104259
Premiere Global Services
09053210-B
19030114
8/28/2011
9/8/2011
(782)
(782)
-
1000
104259
Rack Space Managed Hosting
100533528-B
5200044354
8/28/2011
8/5/2011
(404)
-
(404)
1000
104259
NC State University
CNG0038181-B
5200044369
8/28/2011
8/21/2011
(9,375)
-
(9,375)
1000
104259
Iron Mountain Information Mngmt
DVN3666-B
19030068
8/28/2011
8/30/2011
(89)
(89)
-
1000
104259
Iron Mountain Information Mngmt
DVN6146-B
5200044365
8/28/2011
8/30/2011
(70)
(70)
-
1000
104259
Iron Mountain Information Mngmt
DYX1298-B
19030121
8/28/2011
9/20/2011
(178)
(178)
-
1000
104259
MassDevelopment
GROUNDLEASE2011
19030009
8/28/2011
8/23/2011
(1)
-
(1)
1000
104259
MassDevelopment
18113- B
19030199
8/28/2011
9/6/2011
(1,612)
(1,612)
-
1000
104259
MassDevelopment
18114-B
19030194
8/28/2011
9/6/2011
(20)
(20)
-
1000
104259
MassDevelopment
808000181-B
19030196
8/28/2011
9/9/2011
(25,544)
(25,544)
-
1000
104259
Process Asbuilts
14127
5200044299
8/28/2011
8/31/2011
(308)
(308)
-
1000
104259
Uniclean Cleanroom Services
0450293633
5200044479
8/28/2011
9/16/2011
(431)
(431)
-
1000
104259
ABM Janitorial Serv. SVCS Neast Inc
2805306-B
5200044371
8/28/2011
8/31/2011
(4,564)
(4,564)
-
1000
104259
E.L. Harvey & Sons, Inc.
27449-1-110831-B
5200044437
8/28/2011
9/15/2011
(46)
(46)
-
1000
104259
E.L. Harvey & Sons, Inc.
27449-2-110831-B
5200044438
8/28/2011
9/15/2011
(794)
(794)
-
1000
104259
Praxair Inc.
PRAXAIR
15000053
8/28/2011
8/26/2011
672
-
672
1000
104259
Praxair Inc.
40537437-B
5200044409
8/28/2011
9/19/2011
(119)
(119)
-
1000
104259
Unifirst Corporation
0443874102
5200044297
8/28/2011
9/15/2011
(55)
(55)
-
1000
104259
Cintas Corp
016360009
5200044381
8/28/2011
9/18/2011
(114)
(114)
-
1000
104259
Consumers Energy
100060729405AUG
19000680
8/28/2011
8/24/2011
(1,442)
-
(1,442)
1000
104259
Metropolitan Telecommunications
01004555037487-B
19000688
8/28/2011
8/7/2011
(456)
-
(456)
1000
104259
Metropolitan Telecommunications
01004555037527
19000671
8/28/2011
8/23/2011
(2,004)
-
(2,004)
1000
104259
Titan Equipment Services, Inc.
32447V-B
5200044429
8/28/2011
9/14/2011
(345)
(345)
-
1000
104259
Mitrano Removal Services LLC
29710-B
5200044434
8/28/2011
9/15/2011
(181)
(181)
-
1000
104259
IPG Photonics Corporation
40541
5200044342
8/28/2011
9/18/2011
(11,712)
(11,712)
-
1000
104259
Konica Minolta Premier Finance
56047502-B
19030063
8/28/2011
8/27/2011
(430)
-
(430)
1000
104259
C.H. Powell Company
1580252 A
19030052
8/28/2011
9/22/2011
(680)
(680)
-
1000
104259
Eric Edward Meylan
SEPTEMBER11RENT
19029976
8/28/2011
8/22/2011
(2,600)
-
(2,600)
1000
104259
Expeditors N.V.
E600678018
19030018
8/28/2011
9/15/2011
(613)
(613)
-
1000
104259
Expeditors N.V.
E600679003
19030003
8/28/2011
9/17/2011
(612)
(612)
-
1000
104259
Expeditors N.V.
E600679007
19030004
8/28/2011
9/17/2011
(2,232)
(2,232)
-
1000
104259
Expeditors N.V.
E600679017
19030005
8/28/2011
9/17/2011
(2,232)
(2,232)
-
1000
104259
Expeditors N.V.
E600679837
19030019
8/28/2011
9/22/2011
(6,563)
(6,563)
-
1000
104259
Expeditors N.V.
E600680109
19030020
8/28/2011
9/22/2011
(3,215)
(3,215)
-
1000
104290
Expeditors N.V.
E600680113
19030021
8/28/2011
9/22/2011
(3,215)
(3,215)
-
1000
104339
Expeditors N.V.
E600680114
19030022
8/28/2011
9/22/2011
(19,641)
(19,641)
-
1000
104339
Expeditors N.V.
E600680115
19030023
8/28/2011
9/22/2011
(3,215)
(3,215)
-
1000
104339
Expeditors N.V.
E600680117
19030024
8/28/2011
9/22/2011
(3,215)
(3,215)
-
1000
104339
Expeditors N.V.
E600680119
19030025
8/28/2011
9/22/2011
(6,322)
(6,322)
-
1000
104343
Expeditors N.V.
E600680120
19030026
8/28/2011
9/22/2011
(6,322)
(6,322)
-
1000
104343
Expeditors N.V.
E600680125
19030027
8/28/2011
9/22/2011
(6,322)
(6,322)
-
1000
104343
Expeditors N.V.
E600680129
19030028
8/28/2011
9/22/2011
(3,215)
(3,215)
-
1000
104356
Classic Plumbing & Heating Contract
9071
5200044314
8/28/2011
8/16/2011
(398)
-
(398)
1000
104413
Akin Gump Strauss Hauer + Feld, LLP
1384198
19030202
8/28/2011
10/16/2011
(178,675)
(178,675)
-
1000
104440
Nexeo Solutions, LLC
PREPAYMENT8/26
19030044
8/28/2011
8/21/2011
(2,950)
-
(2,950)
                   
          Post-Petition
(367,748)
(324,360)
(43,388)

 
 

 

In re Evergreen Solar, Inc. | Case # 11-12590 (MFW)
 
As of.: 8/27/2011
                              Debtor
 
   
       
       
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING


Accounts Receivable Reconciliation
 
Amount
 
Total Accounts Receivable at the beginning of the reporting period
    13,850,321  
+ Amounts billed during the period
    -  
- Amounts collected during the period
    (1,279,665 )
Total Accounts Receivable at the end of the reporting period
    12,570,656  
                                                                                                                                                                                                       
Accounts Receivable Aging
 
Amount
 
0 - 30 days old
    1,667,383  
31 - 60 days old
    1,108,212  
61 - 90 days old
    268,831  
91+ days old
    9,526,230  
Total Accounts Receivable
    12,570,656  
Amount considered uncollectible (Bad Debt)
    (8,851,452 )
Accounts Receivable (Net)
    3,719,204  

DEBTOR QUESTIONNAIRE
     
Must be completed each month
Yes
No
1.  Have any assets been sold or transferred outside the normal course of business
   
     this reporting period?  If yes, provide an explanation below.
 
x
2.  Have any funds been disbursed from any account other than a debtor in possession
   
     account this reporting period?  If yes, provide an explanation below.
 
x
3.  Have all postpetition tax returns been timely filed?  If no, provide an explanation
   
     below.
x
 
4.  Are workers compensation, general liability and other necessary insurance
   
     coverages in effect?  If no, provide an explanation below.
x
 
5.  Has any bank account been opened during the reporting period?  If yes, provide
   
     documentation identifying the opened account(s).  If an investment account has been opened
   
     provide the required documentation pursuant to the Delaware Local Rule 4001-3.
x