EX-99.1 2 dex991.htm MONTHLY OPERATING REPORTS MONTHLY OPERATING REPORTS

 

Exhibit 99.1

 

UNITED STATES BANKRUPTCY COURT

DISTRICT OF NEW HAMPSHIRE

 

In re

           Robotic Vision Systems, Inc.    Case No.    04-14151-JMD
          Reporting Period    January 31, 2005

 

MONTHLY OPERATING REPORT

Complete and submit to the United States Trustee within 15 days after end of month

 

Submit copy of report to any official committee appointed in the case

 

REQUIRED DOCUMENTS


   Form No.

  

Document

Attached


  

Explanation

Attached


Monthly Reporting Questionnaire

   MOR-1    X     

Schedule of Cash Receipts and Disbursements

   MOR-2    X     

Copies of Debtor’s Bank Reconciliations

        X     

Copies of Debtor’s Bank Statements

        X     

Copies of Cash Disbursements Journals

        X     

Statement of Operations

   MOR-3    X     

Balance Sheet

   MOR-4    X     

Schedule of Post-Petition Liabilities

   MOR-5    X     

Copies of IRS Form 6123 or payment receipt

        N/A     

Copies of tax returns filed during reporting period

        N/A     

Detailed listing of aged accounts payables

        X     

Accounts Receivable Reconciliation and Aging

   MOR-6    X     

 

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

 

/s/    Frederick H. Van Alstyne

     

February 25, 2005

Signature of Debtor

     

Date

           

Signature of Joint Debtor

     

Date

/s/ Frederick H. Van Alstyne

     

2/25/05

Signature of Authorized Individual*

     

Date

Frederick H. Van Alstyne

     

CFO

Printed Name of Authorized Individual

     

Title of Authorized Individual

 

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

 

COVER PAGE

9/04

 


Robotic Vision Systems, Inc.    Case No.    04-14151-JMD
Debtor    Reporting Period    January 31, 2005

 

MONTHLY REPORTING 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 any payments been made on pre-petition debt, other than payments in the normal course to secured creditors or lessors? If yes, attach listing including date of payment, amount of payment, and name of payee.

   X     

4. Have any payments been made to professionals? If yes, attach listing including date of payment, amount of payment, and name of payee. (See listing below.)

   X     

5. If the answer to question 3 and/or 4 is yes, were all such payments approved by the Court?

   X     

6. Have any payments been made to officers, insiders, shareholders, or relatives? If yes, attach listing including date of payment, amount and reason for payment, and name of payee.

        X

7. Have all postpetition tax returns been timely filed? If no, provide an explanation below.

   N/A     

8. Is the estate current on the payment of post-petition taxes?

   X     

9. Is the estate insured for the replacement cost of assets and for general liability? If no, provide an explanation below.

   X     

10. Is workers’ compensation insurance in effect?

   X     

11. Have all current insurance payments been made? Attach copies of all new and renewed insurance policies

   X     

12. Are a plan and disclosure statement on file?

        X

13. Was there any post-petition borrowing during this reporting period?

        X

 

Payments to Professionals:

 

1/21/05 - Jeff Lucas - $32,510

 

1/21/05 - Marotta Gund Budd & Dzera, LLC - $269,838

 

Pre-Petition payments:

 

Earned time - $12,718 1/13 - 1/27/05

 

Sick time - $3,559 1/13 - 1/27/05

 

Vacation earnings - $23,857 1/13 - 1/27/05

MOR-1

9/04

 


Robotic Vision Systems, Inc.    Case No.    04-14151-JMD
Debtor    Reporting Period    January 31, 2005

 

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

 

Amounts reported should be per the debtor’s books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account.

 

     BANK ACCOUNTS

(IN THOUSANDS)


   Operational

   Payroll

   Tax

   Other

   Total

CASH BEGINNING OF MONTH

   640                   640
    
                 

RECEIPTS

                        

CASH SALES

   —                     —  

ACCOUNTS RECEIVABLE

   1,987                   1,987

LOANS AND ADVANCES

   2,000                   2,000

SALE OF ASSETS

   —                     —  

OTHER (ATTACH LIST)

   —                     —  

TRANSFERS (FROM DIP ACCTS)

   —                     —  
    
                 

TOTAL RECEIPTS

   3,987                   3,987
    
                 

DISBURSEMENTS

                        

NET PAYROLL

   557                   557

PAYROLL TAXES

   286                   286

SALES, USE & OTHER TAXES

   1                   1

INVENTORY PURCHASES

   354                   354

SECURED/RENTAL/LEASES

   84                   84

INSURANCE

   192                   192

ADMINISTRATIVE

   32                   32

SELLING

   —                     —  

OTHER (ATTACH LIST) - see below

   217                   217

________________________________

                        

OWNER DRAW *

   —                     —  

TRANSFERS (TO DIP ACCTS)

   —                     —  

________________________________

                        

PROFESSIONAL FEES

   308                   308

U.S. TRUSTEE QUARTERLY FEES

   8                   8

COURT COSTS

   —                     —  
    
                 

TOTAL DISBURSEMENTS

   2,039                   2,039
    
                 

NET CASH FLOW (RECEIPTS LESS DISBURSEMENTS)

   1,948                   1,948
    
                 

CASH - END OF MONTH

   2,588                   2,588
    
                 

*  COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES:

    

TOTAL DISBURSEMENTS

   2,039

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

   2,039
                        

Other Disbursements:

                        
                          
    
                   

 

MOR-2

9/04

 


Robotic Vision Systems, Inc.

   Case No.   

04-14151-JMD

Debtor

   Reporting Period   

January 31, 2005

 

STATEMENT OF OPERATIONS (IN THOUSANDS)

(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.

 

REVENUES


   Month

    Cumulative
Filing to Date


 

Gross Revenues

   1,269     4,891  

Less: Returns and Allowances

   —       —    

Net Revenue

   1,269     4,891  

COST OF GOODS SOLD

            

Beginning Inventory

   9,952     10,758  

Add: Purchases

   230     1,376  

Add: Cost of Labor

   60     180  

Add: Other Costs (attach schedule)

   407     583  

Less: Ending Inventory

   9,587     9,587  

Cost of Goods Sold

   1,062     3,310  
    

 

Gross Profit

   207     1,581  
    

 

OPERATING EXPENSES

            

Advertising

   46     116  

Auto and Truck Expense

         2  

Bad Debts

   1     46  

Contributions

   —       —    

Employee Benefits Programs

   117     293  

Insider Compensation*

   —       —    

Insurance

   92     192  

Management Fees/Bonuses

   —       —    

Office Expense

   1     17  

Pension & Profit-sharing Plans

   —       —    

Repairs and Maintenance

   3     4  

Rent and Lease Expense

   204     393  

Salaries/Commissions/Fees

   1,029     2,414  

Supplies

   17     16  

Taxes - Payroll

   16     25  

Taxes - Real Estate

   —       —    

Taxes - Other

   181     183  

Travel and Entertainment

   73     173  

Utilities

   44     100  

Other (attach schedule)

   (271 )   347  

Total Operating Expenses Before Depreciation

   1,553     4,321  

Depreciation/Depletion/Amortization

   161     302  
    

 

Net Profit(Loss) Before Other Income & Expenses

   (1,507 )   (3,042 )
    

 

OTHER INCOME AND EXPENSES

            

Other Income (attach schedule)

   (85 )   (85 )

Interest Expense

   547     1,374  

Other Expense (attach schedule)

   —       —    
    

 

Net Profit (Loss) Before Reorganization Items

   (2,139 )   (4,501 )
    

 

REORGANIZATION ITEMS

            

Professional Fees

   1,134     1,507  

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

   1,134     1,507  

Income Taxes

   —       —    
    

 

Net Profit(Loss)

   (3,273 )   (6,008 )
    

 

 

*  “Insider” is defined in 11 U.S.C. Section 101(31).

 

MOR-3

9/04

 


Robotic Vision Systems, Inc.

   Case No.   

04-14151-JMD

Debtor

   Reporting Period   

January 31, 2005

 

STATEMENT OF OPERATIONS (IN THOUSANDS) - continuation sheet

 

BREAKDOWN OF “OTHER” CATEGORY


   Month

    Cumulative
Filing to Date


 

Other Costs

            

Overhead portion of cost of sales

   407     583  

___________________________________

            

Other Operational Expenses

            

cap software adds-reduction to R&D expense

   (400 )   (118 )

various

   3     (21 )

Audit accrual

         54  

Bank Charges

   48     292  

Director Fees

         6  

Stock Admin Fees

   2     4  

Legal Expenses

   18     28  

Public Reporting

   2     7  

Freight

   1     18  

Consulting accrual

   55     77  
    

 

Total

   (271 )   347  
    

 

Other Income

            

Royalty Payment

   (85 )   (85 )

___________________________________

            

Other Expenses

            

___________________________________

            

___________________________________

            

Other Reorganization Expenses

            

___________________________________

            

___________________________________

            

___________________________________

            

 

Reorganization Items - Interest Earned on Accumulated Cash from Chapter 11:

 

Interest earned on cash accumulated during the chapter 11 case, which would not have been earned but for the bankruptcy proceeding, should be reported as a reorganization item.

 

MOR-3

9/04

 


Robotic Vision Systems, Inc.

  

Case No.

  

04-14151-JMD

Debtor

  

Reporting Period

  

January 31, 2005

 

BALANCE SHEET (IN THOUSANDS)

 

The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from postpetition obligations.

 

ASSETS


   BOOK VALUE AT END OF
CURRENT REPORTING MONTH


    BOOK VALUE ON
PETITION DATE


 
              

CURRENT ASSETS

            

Unrestricted Cash and Equivalents

   2,588     166  

Restricted Cash and Cash Equivalents

   —       —    

Accounts Receivable (Net)

   7,530     10,056  

Notes Receivable

   —       —    

Inventories

   9,587     10,758  

Prepaid Expenses

   773     1,115  

Professional Retainers

   —       —    

Other Current Assets (attach schedule)

   —       —    
    

 

TOTAL CURRENT ASSETS

   20,478     22,095  
    

 

PROPERTY AND EQUIPMENT

            

Real Property and Improvements

   —       —    

Machinery and Equipment

   5,749     5,853  

Furniture, Fixtures and Office Equipment

   6,135     6,236  

Leasehold Improvements

   2,621     2,621  

Vehicles

   —       —    

Less Accumulated Depreciation

   (12,072 )   (11,879 )
    

 

TOTAL PROPERTY & EQUIPMENT

   2,433     2,831  
    

 

OTHER ASSETS

            

Loans to Insiders

   —       —    

Other Assets (attach schedule)

   25,093     26,345  
    

 

TOTAL OTHER ASSETS

   25,093     26,345  
    

 

TOTAL ASSETS

   48,004     51,271  
    

 

     BOOK VALUE AT END OF
CURRENT REPORTING MONTH


    BOOK VALUE ON
PETITION DATE


 
LIABILITIES AND OWNER EQUITY             

LIABILITIES NOT SUBJECT TO COMPROMISE (Post-Petition)

            

Accounts Payable

   1,015     —    

Taxes Payable (refer to ... )

   —       —    

Wages Payable

   444     —    

Notes Payable

   —       —    

Rent / Leases - Building/Equipment

   —       —    

Secured Debt / Adequate Protection Payments

   —       —    

Professional Fees

   —       —    

Amounts Due to Insiders

   —       —    

Other Postpetition Liabilities (attach schedule)

         —    
    

 

TOTAL POST-PETITION LIABILITIES

   1,459     —    
    

 

LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)

            

Secured Debt

   17,883     15,883  

Priority Debt

   —       —    

Unsecured Debt

   12,582     13,301  

Unsecured Debt Payable to subsidiaries

   8,147     8,147  

Subsidiaries Investment

   16,699     16,699  
    

 

TOTAL PRE-PETITION LIABILITIES

   55,311     54,030  
    

 

TOTAL LIABILITIES

   56,770     54,030  
    

 

OWNER EQUITY

            

Capital Stock

   214     214  

Additional Paid-in Capital

   317,122     317,116  

Partners’ Capital Account

   —       —    

Owner’s Equity Account

   —       —    

Retained Earnings - Pre-Petition

   (318,775 )   (318,775 )

Retained Earnings - Postpetition

   (6,008 )   —    

Adjustments to Owner Equity (attach schedule)

   (1,319 )   (1,314 )

Post-Petition Contributions (Distributions) (Draws)

   —       —    
    

 

Net Owner Equity

   (8,766 )   (2,759 )
    

 

TOTAL LIABILITIES AND OWNERS’ EQUITY

   48,004     51,271  
    

 

 

Insider is defined in 11 U.S.C. Section 101(31)  

MOR-4

9/04

 


Robotic Vision Systems, Inc.

   Case No.    04-14151-JMD

Debtor

   Reporting Period    January 31, 2005

 

BALANCE SHEET (IN THOUSANDS) - continuation sheet

 

ASSETS


   BOOK VALUE AT END OF
CURRENT REPORTING MONTH


    BOOK VALUE ON
PETITION DATE


 
              

Other Current Assets

            

_____________________

            

_____________________

            

_____________________

            

Other Assets

            

Capitalized software

   3,443     3,684  

Patents

   194     202  

Deposits

   159     153  

Employee Loans

         2  

Other Non Current Assets

   620     620  

Loan refinance closing cost

   4,380     5,313  

Goodwill

   990     990  

Investment in subsidiaries

   15,307     15,381  
    

 

Total

   25,093     26,345  
    

 

LIABILITIES AND OWNER EQUITY


   BOOK VALUE AT END OF
CURRENT REPORTING MONTH


    BOOK VALUE ON
PETITION DATE


 
              

Other Postpetition Liabilities

            

Received not invoiced

            

Accrued Warranty

            

Accrued Royalty

            

Accrued Sales Return

            

Customer Advances

            

Other AP

            

Other Accrued Liability

            

Other - Fringe benefit

            

Deferred Gross Profit

            
    

     

Total

            
    

     

Adjustments to Owner Equity

            

Minimum pension obligation

   (583 )   (583 )

Cumulative Translation Adjustment

   (736 )   (731 )

Total

   (1,319 )   (1,314 )

 

Postpetition Contributions (Distributions) (Draws)     

Restricted Cash: cash that is restricted for a specific use and not available to fund operations.

Typically, restricted cash is segregated into a separate account, such as an escrow account.

   MOR-4
9/04

 

 


Robotic Vision Systems, Inc.

   Case No    04-14151-JMD

Debtor

   Reporting Period    January 31, 2005

 

STATUS OF POST-PETITION TAXES

 

The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero. Attach photocopies or IRS Form 6123 and all applicable state and local forms and/or all federal, state, and local payment receipts to verify payment of taxes. Attach photocopies of any tax returns filed during the reporting period.

 

     Beginning
Tax
Liability


   Amount
Withheld or
Accrued


   Amount
Paid


   Date
Paid


   Check No.
or EFT


   Ending
Tax
Liability


Federal

                             

Income Tax Withholding

   —      13,065    13,065    1-26-05    Filed by ADP    —  

FICA-Employee

   —      11,966    11,966    1-26-05    Filed by ADP    —  

FICA-Employer

   —      11,968    11,968    1-26-05    Filed by ADP    —  

Unemployment

   —      1,047    1,047    1-26-05    Filed by ADP    —  

Income

   —      —      —                —  

Other:

   —      —      —                —  

Total Federal Taxes

   —      38,047    38,047    1-26-05         —  

State and Local

                             

Income Tax Withholding

   —      4,789    4,789    1-26-05    Filed by ADP    —  

Sales

   —      —      —                —  

Excise

   —      —      —                —  

Unemployment

   —      13,811    13,811    1-26-05    Filed by ADP    —  

Real Property

   —      —      —                —  

Personal Property

   —      —      —                —  

Other:

   —      —      —                —  
    
  
  
            

Total State and Local

   —      18,600    18,600              —  
    
  
  
            

Withholding for Employee Healthcare

   —      —      —                —  

Premiums, Pensions & Other Benefits

   —      14,678    14,678              —  
    
  
  
            

Total Taxes

   —      33,278    33,278              —  
    
  
  
            

 

SUMMARY OF UNPAID POST-PETITION DEBTS (IN THOUSANDS)

 

Attach aged listing of accounts payables

 

     Number of Days Past Due

     Current

   0-30

   31-60

   61-90

   Over 90

   Total

Accounts Payable

   715    53    134    113    —      1,015

Wages Payable

   444    —      —      —      —      444

Taxes Payable

   —      —      —      —      —      —  

Rent/Leases-Building

   —      —      —      —      —      —  

Rent/Leases-Equipment

   —      —      —      —      —      —  

Secured Debt/Adequate Protection Payments

   —      —      —      —      —      —  

Professional Fees

   —      —      —      —      —      —  

Amounts Due to Insiders*

   —      —      —      —      —      —  

Other:

   —      —      —      —      —      —  

Other:

   —      —      —      —      —      —  
    
  
  
  
  
  

Total Postpetition Debts

   1,159    53    134    113    —      1,459
    
  
  
  
  
  

 

Explain how and when the Debtor intends to pay any past-due post-petition debts.

 

We intend to pay past-due amounts within the next month out of operating cash.

_____________________________________________________

_____________________________________________________

_____________________________________________________

_____________________________________________________

 

*  “Insider” is defined in 11 U.S.C. Section 101(31).

 

MOR-5

9/04

 

 


Robotic Vision Systems, Inc.

  

Case No.

   04-14151-JMD

Debtor

  

Reporting Period

   January 31, 2005

 

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING (IN THOUSANDS)

 

ACCOUNTS RECEIVABLE RECONCILIATION


   Amount

 

Total Accounts Receivable at the beginning of the reporting period

   9,832  

+ Amounts billed during the period

   1,214  

- Amounts collected during the period

   2,855  
    

Total Accounts Receivable at the end of the reporting period

   8,191  
    

Accounts Receivable Aging


   Amount

 

0 - 30 days old

   2,779  

31 - 60 days old

   664  

61 - 90 days old

   255  

91+ days old

   4,493  
    

Total Accounts Receivable

   8,191  
    

Amount considered uncollectible (Bad Debt)

   (661 )
    

Accounts Receivable (Net)

   7,530  
    

 

MOR-6

9/04

 


 

UNITED STATES BANKRUPTCY COURT

DISTRICT OF NEW HAMPSHIRE

 

In re            Auto Image ID, Inc.    Case No.    04-14152-JMD
          Reporting Period    Jan 31, 2005

 

MONTHLY OPERATING REPORT

 

Complete and submit to the United States Trustee within 15 days after end of month

 

Submit copy of report to any official committee appointed in the case

 

REQUIRED DOCUMENTS


   Form No.

   Document
Attached


   Explanation
Attached


Monthly Reporting Questionnaire

   MOR-1    X     

Schedule of Cash Receipts and Disbursements

   MOR-2    X     

Copies of Debtor’s Bank Reconciliations

        N/A     

Copies of Debtor’s Bank Statements

        N/A     

Copies of Cash Disbursements Journals

        N/A     

Statement of Operations

   MOR-3    X     

Balance Sheet

   MOR-4    X     

Schedule of Post-Petition Liabilities

   MOR-5    X     

Copies of IRS Form 6123 or payment receipt

        N/A     

Copies of tax returns filed during reporting period

        N/A     

Detailed listing of aged accounts payables

        N/A     

Accounts Receivable Reconciliation and Aging

   MOR-6    X     

 

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

 

/s/ Frederick H. Van Alstyne

     

February 25, 2005

Signature of Debtor

     

Date

           

Signature of Joint Debtor

     

Date

/s/ Frederick H. Van Alstyne

     

2/25/2005

Signature of Authorized Individual*

     

Date

/s/ Frederick H. Van Alstyne

     

Acting President and CFO

Printed Name of Authorized Individual

     

Title of Authorized Individual

 

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

 

COVER PAGE

9/04

 


Auto Image ID, Inc.    Case No.    04-14152-JMD
Debtor    Reporting Period    January 31, 2005

 

MONTHLY REPORTING 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 any payments been made on pre-petition debt, other than payments in the normal course to secured creditors or lessors? If yes, attach listing including date of payment, amount of payment, and name of payee.

        X

4. Have any payments been made to professionals? If yes, attach listing including date of payment, amount of payment, and name of payee.

        X

5. If the answer to question 3 and/or 4 is yes, were all such payments approved by the Court?

   N/A     

6. Have any payments been made to officers, insiders, shareholders, or relatives? If yes, attach listing including date of payment, amount and reason for payment, and name of payee.

        X

7. Have all postpetition tax returns been timely filed? If no, provide an explanation below.

   N/A     

8. Is the estate current on the payment of post-petition taxes?

   X     

9. Is the estate insured for the replacement cost of assets and for general liability? If no, provide an explanation below.

   X     

10. Is workers’ compensation insurance in effect?

   N/A     

11. Have all current insurance payments been made? Attach copies of all new and renewed insurance policies.

   X     

12. Are a plan and disclosure statement on file?

        X

13. Was there any post-petition borrowing during this reporting period?

        X

 

___________________________________________

___________________________________________

___________________________________________

___________________________________________

___________________________________________

 

MOR-1

9/04

 


Auto Image ID, Inc.    Case No.    04-14152-JMD
Debtor    Reporting Period    January 31, 2005

 

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

 

Amounts reported should be per the debtor’s books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page.

 

A bank reconciliation must be attached for each account.

 

     BANK ACCOUNTS

     Operational

   Payroll

   Tax

   Other

   Total

CASH BEGINNING OF MONTH

   0                   0

RECEIPTS

                        

CASH SALES

                        

ACCOUNTS RECEIVABLE

                        

LOANS AND ADVANCES

                        

SALE OF ASSETS

                        

OTHER (ATTACH LIST)

                        

TRANSFERS (FROM DIP ACCTS)

                        

TOTAL RECEIPTS

                        

DISBURSEMENTS

                        

NET PAYROLL

                        

PAYROLL TAXES

                        

SALES, USE & OTHER TAXES

                        

INVENTORY PURCHASES

                        

SECURED/RENTAL/LEASES

                        

INSURANCE

                        

ADMINISTRATIVE

                        

SELLING

                        

OTHER (ATTACH LIST)

                        

__________________________________

                        

OWNER DRAW *

                        

TRANSFERS (TO DIP ACCTS)

                        

__________________________________

                        

PROFESSIONAL FEES

                        

U.S. TRUSTEE QUARTERLY FEES

                        

COURT COSTS

                        

TOTAL DISBURSEMENTS

                        

NET CASH FLOW (RECEIPTS LESS DISBURSEMENTS)

                        
    
                 

CASH - END OF MONTH

   0                   0
    
                 

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

THE FOLLOWING SECTION MUST BE COMPLETED

DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES:

    

TOTAL DISBURSEMENTS

   0

LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS

   0

PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)

   0
                        

TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES

   0
                        

 

MOR-2

9/04

 


Auto Image ID, Inc.

   Case No.    04-14152-JMD

Debtor

   Reporting Period    January 31, 2005

 

STATEMENT OF OPERATIONS (IN THOUSANDS)

(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.

 

REVENUES


   Month

    Cumulative
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)

            

Less: Ending Inventory

            

Cost of Goods Sold

            

Gross Profit

            

OPERATING EXPENSES

            

Advertising

            

Auto and Truck Expense

            

Bad Debts

            

Contributions

            

Employee Benefits Programs

            

Insider Compensation*

            

Insurance

            

Management Fees/Bonuses

            

Office Expense

            

Pension & Profit-Sharing Plans

            

Repairs and Maintenance

            

Rent and Lease Expense

            

Salaries/Commissions/Fees

            

Supplies

            

Taxes - Payroll

            

Taxes - Real Estate

            

Taxes - Other

            

Travel and Entertainment

            

Utilities

            

Other (attach schedule)

            

Total Operating Expenses Before Depreciation

            

Depreciation/Depletion/Amortization

   15     29  
    

 

Net Profit(Loss) Before Other Income & Expenses

   (15 )   (29 )
    

 

OTHER INCOME AND EXPENSES

            

Other Income (attach schedule)

            

Interest Expense

   82     207  

Other Expense (attach schedule)

            
    

 

Net Profit (Loss) Before Reorganization Items

   (97 )   (236 )
    

 

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)

            

 

*  “Insider” is defined in 11 U.S.C. Section 101(31).

  

MOR-3

9/04

 


Auto Image ID, Inc.

   Case No.    04-14152-JMD

Debtor

   Reporting Period    January 31, 2005

 

STATEMENT OF OPERATIONS (IN THOUSANDS) - continuation sheet

 

BREAKDOWN OF “OTHER” CATEGORY


   Month

   Cumulative
Filing to Date


Other Costs

         

                                                                                                  

         

                                                                                                 

         

Other Operational Expenses

         

                                                                                                 

         

                                                                                                 

         

Other Income

         

                                                                                                 

         

                                                                                                 

         

Other Expenses

         

                                                                                                 

         

                                                                                                 

         

Other Reorganization Expenses

         

                                                                                                 

         

                                                                                                 

         

                                                                                                 

         

 

Reorganization Items - Interest Earned on Accumulated Cash from Chapter 11:

 

Interest earned on cash accumulated during the chapter 11 case, which would not have been earned but for the bankruptcy proceeding, should be reported as a reorganization item.

 

MOR-3

9/04

 


Auto Image ID, Inc.

   Case No.    04-14152-JMD

Debtor

   Reporting Period    January 31, 2005

 

BALANCE SHEET (IN THOUSANDS)

 

The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from postpetition obligations.

 

ASSETS    BOOK VALUE AT END OF
CURRENT REPORTING MONTH


    BOOK VALUE ON
PETITION DATE


 
              

CURRENT ASSETS

            

Unrestricted Cash and Equivalents

            

Restricted Cash and Cash Equivalents

            

Accounts Receivable (Net)

            

Notes Receivable

            

Inventories

            

Prepaid Expenses

            

Professional Retainers

            

Other Current Assets (attach schedule)

            
    

 

TOTAL CURRENT ASSETS

   —       —    
    

 

PROPERTY AND EQUIPMENT

            

Real Property and Improvements

            

Machinery and Equipment

            

Furniture, Fixtures and Office Equipment

            

Leasehold Improvements

            

Vehicles

            

Less Accumulated Depreciation

            

TOTAL PROPERTY & EQUIPMENT

         —    

OTHER ASSETS

            

Loans to Insiders

            

Other Assets (attach schedule)

   809     839  
    

 

TOTAL OTHER ASSETS

   809     839  
    

 

TOTAL ASSETS

   809     839  
    

 

LIABILITIES AND OWNER EQUITY    BOOK VALUE AT END OF
CURRENT REPORTING MONTH


    BOOK VALUE ON
PETITION DATE


 
              

LIABILITIES NOT SUBJECT TO COMPROMISE (Post-Petition)

            

Accounts Payable

            

Taxes Payable (refer to... )

            

Wages Payable

            

Notes Payable

            

Rent / Leases - Building/Equipment

            

Secured Debt / Adequate Protection Payments

            

Professional Fees

            

Amounts Due to Insiders

            

Other Postpetition Liabilities (attach schedule)

   206        
    

 

TOTAL POST-PETITION LIABILITIES

   206     —    
    

 

LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)

            

Secured Debt

            

Priority Debt

            

Unsecured Debt *

   9,534     9,534  
    

 

TOTAL PRE-PETITION LIABILITIES

   9,534     9,534  
    

 

TOTAL LIABILITIES

   9,740     9,534  
    

 

OWNER EQUITY

            

Capital Stock

            

Additional Paid-In Capital

            

Partners’ Capital Account

            

Owner’s Equity Account

            

Retained Earnings - Pre-Petition

   (8,695 )   (8,695 )

Retained Earnings - Postpetition

   (236 )      

Adjustments to Owner Equity (attach schedule)

            

Post-Petition Contributions (Distributions) (Draws) (attach schedule)

            

Net Owner Equity

   (8,931 )   (8,695 )
    

 

TOTAL LIABILITIES AND OWNERS’ EQUITY

   809     839  
    

 

 

Insider is defined in 11 U.S.C. Section 101(31)

 

* Includes $4,451,193 of Robotic Vision Systems, Inc. debt incurred in the acquisition of Auto Image ID. Inc. For accounting purposes, this debt has been reflected in the books and records of Auto Image ID, Inc.

 

MOR-4

9/04

 


Auto Image ID, Inc.    Case No.    04-14152-JMD
Debtor    Reporting Period    January 31, 2005

 

BALANCE SHEET (IN THOUSANDS) - continuation sheet

 

ASSETS    BOOK VALUE AT END OF
CURRENT REPORTING MONTH


   BOOK VALUE ON
PETITION DATE


           

Other Current Assets

         

________________________

         

________________________

         

________________________

         

Other Assets

         

Goodwill

   343    343

Technology

   466    496

________________________

         
LIABILITIES AND OWNER EQUITY    BOOK VALUE AT END OF
CURRENT REPORTING MONTH


   BOOK VALUE ON
PETITION DATE


           

Other Postpetition Liabilities

         

Accrued Interest

   206     

Intercompany

         

Intercompany investment in subs

         

________________________

         

Adjustments to Owner Equity

         

________________________

         

________________________

         

________________________

         

 

Postpetition Contributions (Distributions) (Draws)

 

Restricted Cash: cash that is restricted for a specific use and not available to fund operations.    MOR-4
Typically, restricted cash is segregated into a separate account, such as an escrow account    9/04

 


Auto Image ID, Inc    Case No.    04-14152- JMD
Debtor    Reporting Period    January 31, 2005

 

STATUS OF POST-PETITION TAXES

 

The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero. Attach photocopies of IRS Form 6123 and all applicable state and local forms and/or all federal, state, and local payment receipts to verify payment of taxes. Attach photocopies of any tax returns filed during the reporting period.

 

    

Beginning
Tax

Liability


   Amount
Withheld or
Accrued


   Amount
Paid


   Date
Paid


  

Check No.

or EFT


  

Ending
Tax

Liability


Federal

                             

Income Tax Withholding

                             

FICA-Employee

                             

FICA-Employer

                             

Unemployment

                             

Income

                             

Other

                             

Total Federal Taxes

                             

State and Local

                             

Income Tax Withholding

                             

Sales

                             

Excise

                             

Unemployment

                             

Real Property

                             

Personal Property

                             

Other:

                             

Total State and Local

                             

Withholding for Employee Healthcare

                             

Premiums, Pensions & Other Benefits

                             

Total Taxes

   0                        0

 

SUMMARY OF UNPAID POST-PETITION DEBTS

 

Attach aged listing of accounts payables

 

     Number of Days Past Due

     Current

   0-30

   31-60

   61-90

   Over 90

   Total

Accounts Payable

                             

Wages Payable

                             

Taxes Payable

                             

Rent/Leases-Building

                             

Rent/Leases - Equipment

                             

Secured Debt/Adequate Protection Payments

                             

Professional Fees

                             

Amounts Due to Insiders*

                             

Other:

                             

Other:

                             
    
                      

Total Postpetition Debts

   0                        0
    
                      

 

Explain how and when the Debtor intends to pay any past-due post-petition debts.

 

_________________________________________________________________

_________________________________________________________________

_________________________________________________________________

_________________________________________________________________

 

“Insider” is defined in 11 U.S.C. Section 101(31).

 

MOR-5

9/04

 


Auto Image ID, Inc.    Case No.    04-14152- JMD
Debtor    Reporting Period    January 31, 2005

 

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING (IN THOUSANDS)

 

ACCOUNTS RECEIVABLE RECONCILIATION


   Amount

Total Accounts Receivable at the beginning of the reporting period

   0

+ Amounts billed during the period

    

- Amounts collected during the period

    
    

Total Accounts Receivable at the end of the reporting period

   0
    

Accounts Receivable Aging


   Amount

0 - 30 days old

    

31 - 60 days old

    

61 - 90 days old

    

91+ days old

    

Total Accounts Receivable

   0
    

Amount considered uncollectible (Bad Debt)

    
    

Accounts Receivable (Net)

   0
    

 

MOR-6

9/04