IMPERIAL CAPITAL BANCORP, INC.
|
(Exact name of registrant as specified in its charter)
|
Delaware
|
1-33199
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95-4596322
|
||
(State or other jurisdiction
|
(Commission File No.)
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(IRS Employer
|
||
jurisdiction of incorporation)
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Identification Number)
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888 Prospect Street, Suite 300, La Jolla, California
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92037
|
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(Address of principal executive offices)
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(Zip Code)
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(Former name or former address, if changed since last report)
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9
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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9
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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9
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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9
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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EXHIBIT
NUMBER
|
DESCRIPTION
|
|
99.1
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Monthly Operating Report for the month of September 2011.
|
|
Date: November 18, 2011
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By:
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/s/ Anthony A. Rusnak
|
|
Anthony A. Rusnak
|
|||
Chief Operating Officer, General Counsel
|
|||
and Secretary
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EXHIBIT
NUMBER
|
DESCRIPTION
|
|
99.1
|
Monthly Operating Report for the month of September 2011.
|
|
UNITED STATES DEPARTMENT OF JUSTICE
OFFICE OF THE UNITED STATES TRUSTEE
SOUTHERN DISTRICT OF CALIFORNIA
|
In Re:
IMPERIAL CAPITAL BANCORP, INC., a
Delaware corporation
Debtor(s).
|
CHAPTER 11 (BUSINESS)
CASE NO. 3:09-bk-19431
OPERATING REPORT NO. 22
FOR THE MONTH ENDING:
SEPTEMBER 2011
|
1. |
TOTAL RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS
|
$ | 5,952,722.52 | ||||
2. |
LESS: TOTAL DISBURSEMENTS PER ALL PRIOR
GENERAL ACCOUNT REPORTS
|
$ | 5,952,722.52 | ||||
3. |
BEGINNING BALANCE:
|
$ | 0.00 |
4. |
RECEIPTS DURING CURRENT PERIOD:
|
||||||
ACCOUNTS RECEIVABLE - PRE-FILING
|
$ | 0.00 | |||||
ACCOUNTS RECEIVABLE - POST-FILING
|
$ | 0.00 | |||||
GENERAL SALES
|
$ | 0.00 | |||||
OTHER (SPECIFY) Payments on residual interests
|
$ | 0.00 | |||||
OTHER** (SPECIFY) Refunds
|
$ | 0.00 |
TOTAL RECEIPTS THIS PERIOD:
|
$ | 0.00 | ||||
5. |
BALANCE:
|
$ | 0.00 |
6. |
LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD
|
|||||
TRANSFERS TO OTHER DIP ACCOUNTS
|
$ | 0.00 | ||||
DISBURSEMENTS
|
$ | 0.00 |
TOTAL DISBURSEMENTS THIS PERIOD***:
|
$ | 0.00 | ||
7. |
ENDING BALANCE:
|
$ | 0.00 | |||
8. |
GENERAL ACCOUNT NUMBER
|
|||||
DEPOSITORY NAME AND LOCATION Bank of America, 1655 Grant Street Bldg A, 10th Floor,
Concord, CA 94520-2445
|
DATE
|
CHECK NUMBER
|
PAYEE
|
PURPOSE
|
AMOUNT
|
|
||||
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||||
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||||
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||||
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||||
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||||
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||||
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||||
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||||
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||||
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Balance per bank statement dated: 09/30/11
|
$
|
0.00
|
Deposit Date
|
Deposit Amount
|
__________
|
$_____________
|
__________
|
$_____________
|
__________
|
$_____________
|
Total deposits in transit
|
Check Number
|
Check Date
|
Check Amount
|
||
|
|
|
||
Total outstanding checks
|
<0.00>
|
|||
Bank statement adjustments**
|
||||
Adjusted bank balance
|
$ | 0.00 |
*
|
It is acceptable to attach lists of deposits in transit and outstanding checks to this form or to replace this form with a similar form.
|
1. |
TOTAL RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS
|
$ | 8,407,391.86 | ||||
2. |
LESS: TOTAL DISBURSEMENTS PER ALL PRIOR
GENERAL ACCOUNT REPORTS
|
$ | 8,243,674.91 | ||||
3. |
BEGINNING BALANCE:
|
$ | 163,716.95 |
4. |
RECEIPTS DURING CURRENT PERIOD:
|
||||||
ACCOUNTS RECEIVABLE - PRE-FILING
|
$ | 0.00 | |||||
ACCOUNTS RECEIVABLE - POST-FILING
|
$ | 0.00 | |||||
GENERAL SALES
|
$ | 0.00 | |||||
OTHER (SPECIFY) Payments on residual interests
|
$ | 23,858.99 | |||||
OTHER (SPECIFY) Account refunds | $ | 0.00 | |||||
OTHER (SPECIFY) Transfer from money market account
|
$ | 216,871.68 |
TOTAL RECEIPTS THIS PERIOD:
|
$ | 240,730.67 | ||||
5. |
BALANCE:
|
$ | 404,447.62 |
6. |
LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD
|
|||||
TRANSFERS TO OTHER DIP ACCOUNTS
|
$ | 13,947.02 | ||||
DISBURSEMENTS
|
$ | 300,916.41 |
TOTAL DISBURSEMENTS THIS PERIOD:
|
$ | 314,863.43 | ||
7. |
ENDING BALANCE:
|
$ | 89,584.19 | |||
8. |
GENERAL ACCOUNT NUMBER
|
|||||
DEPOSITORY NAME AND LOCATION Torrey Pines Bank, 4350 Executive Drive, Suite 130,
San Diego, CA 92121
|
DATE
|
CHECK NUMBER
|
PAYEE
|
PURPOSE
|
AMOUNT
|
09/28/11
|
1241
|
Epiq Systems
|
Solicitation services
|
7,662.86
|
09/01/11 | 1283 | Lincoln National Insurance Company | Health insurance premiums |
68.03
|
09/01/11 | 1284 | State Compensation Insurance Fund | Workers compensation insurance premium |
520.58
|
09/06/11 | 1287 | Ace Parking Management | Parking services |
125.00
|
09/08/11 | 1288 | Stutman, Treister & Glatt | Legal fees |
84,103.09
|
09/02/11 | 1289 | 888 Prospect LJ, LLC | Office rent |
5,205.13
|
09/06/11 | 1290 | Public Storage | Storage services |
211.00
|
09/26/11 | 1291 | Freedom Voice | Telephone services |
178.31
|
09/27/11 | 1292 | Ernst & Young | Auditing services |
560.00
|
09/28/11 | 1293 | Epiq Systems | Solicitation services |
7,056.21
|
09/27/11 | 1294 | Ernst & Young | Auditing services |
4,992.00
|
09/26/11 | 1295 | FTI Consulting | Financial Consulting services |
4,538.00
|
09/21/11 | 1296 | Akin Gump Strauss Hauer & Feld | Legal fees |
127,150.72
|
09/21/11 | 1297 | Stutman, Treister & Glatt | Legal fees |
58,325.48
|
09/29/11 | 1298 | Mary Jane Mulson | Janitorial services |
210.00
|
09/26/11 | Bank Debit | Torrey Pines Bank | Wire transfer fee |
10.00
|
|
||||
Balance per bank statement dated: 09/30/11
|
$
|
89,584.19
|
Deposit Date
|
Deposit Amount
|
__________
|
$_____________
|
__________
|
$_____________
|
__________
|
$_____________
|
Total deposits in transit
|
Check Number
|
Check Date
|
Check Amount
|
||
1135
|
01/05/11
|
$1,400.00
|
||
1299 | 09/28/11 | $125.00 | ||
1300 | 09/28/11 | $1,176.00 | ||
1301 | 09/28/11 | $170.32 | ||
1302 | 09/28/11 | $211.00 | ||
1303 | 09/28/11 | $5,205.13 | ||
Total outstanding checks
|
<8,287.45
|
> | ||
Bank statement adjustments**
|
||||
Adjusted bank balance
|
$ | 81,296.74 |
*
|
It is acceptable to attach lists of deposits in transit and outstanding checks to this form or to replace this form with a similar form.
|
1. |
TOTAL RECEIPTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS
|
$ | 117,770.84 | |||
2. |
LESS: TOTAL DISBURSEMENTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS
|
$ | 117,770.84 | |||
3. |
BEGINNING BALANCE
|
$ | 0.00 | |||
4. |
RECEIPTS:
TRANSFERRED FROM GENERAL ACCOUNT
|
$ | 0.00 | |||
5. |
BALANCE
|
$ | 0.00 | |||
6. |
LESS: DISBURSEMENTS DURING CURRENT PERIOD
|
DATE
|
CHECK NO.
|
PAYEE
|
AMOUNT
|
TOTAL DISBURSEMENTS THIS PERIOD:
|
$ | 0.00 |
7. |
ENDING BALANCE:
|
$ | 0.00 | |||
8. |
PAYROLL ACCOUNT NUMBER
DEPOSITORY NAME AND LOCATION Bank of America, 1655 Grant Street Bldg A, 10th Floor,
Concord, California 94500-2455
|
Balance per bank statement dated: 09/30/11
|
$ | 0.00 |
Deposit Date
|
Deposit Amount
|
__________
|
$_____________
|
__________
|
$_____________
|
__________
|
$_____________
|
Total deposits in transit
|
0.00
|
Check Number
|
Check Date
|
Check Amount
|
||
Total outstanding checks
|
<0.00>
|
|||
Bank statement adjustments**
|
||||
Adjusted bank balance
|
$ | 0.00 |
1. |
TOTAL RECEIPTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS
|
$ | 467,072.51 | |||
2. |
LESS: TOTAL DISBURSEMENTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS
|
$ | 465,978.23 | |||
3. |
BEGINNING BALANCE
|
$ | 1,094.28 | |||
4. |
RECEIPTS:
TRANSFERRED FROM OTHER ACCOUNT
(Torrey Pines Bank general and money market account)
|
$ | 13,947.02 | |||
5. |
BALANCE
|
$ | 15,041.30 | |||
6. |
LESS: DISBURSEMENTS DURING CURRENT PERIOD
|
DATE
|
CHECK NO.
|
PAYEE
|
AMOUNT
|
09/14/11 | Payroll fee | NPS Payroll Services | 58.00 |
09/14/11 | Transfer payroll 9/1 to 9/15 | NPS Payroll Services | 1,877.79 |
09/14/11 | Transfer payroll 9/1 to 9/15 | NPS Payroll Services | 5,037.72 |
09/29/11 | Payroll fee | NPS Payroll Services | 58.00 |
09/29/11 | Transfer payroll 9/16 to 9/30 | NPS Payroll Services | 1,877.79 |
09/29/11 | Transfer payroll 9/16 to 9/30 | NPS Payroll Services | 5,037.72 |
TOTAL DISBURSEMENTS THIS PERIOD:
|
$ | 13,947.02 |
7. |
ENDING BALANCE:
|
$ | 1,094.28 | |||
8. |
PAYROLL ACCOUNT NUMBER
DEPOSITORY NAME AND LOCATION Torrey Pines Bank, 4350 Executive Drive, Suite 130,
San Diego, California 92121
|
Balance per bank statement dated: 09/30/11
|
$ | 1,094.28 |
Deposit Date
|
Deposit Amount
|
__________
|
$_____________
|
__________
|
$_____________
|
__________
|
$_____________
|
Total deposits in transit
|
0.00
|
Check Number
|
Check Date
|
Check Amount
|
||
Total outstanding checks
|
<0.00>
|
|||
Bank statement adjustments**
|
||||
Adjusted bank balance
|
$ | 1,094.28 |
*
|
It is acceptable to attach lists of deposits in transit and outstanding checks to this form or to replace this form with a similar form.
|
1. |
TOTAL RECEIPTS PER ALL PRIOR TAX ACCOUNT REPORTS
|
$ | 30,015,298.72 | |||
2. |
LESS: TOTAL DISBURSEMENTS PER ALL PRIOR TAX ACCOUNT REPORTS
|
$ | 0.00 | |||
3. |
BEGINNING BALANCE
|
$ | 30,015,298.72 | |||
4. |
RECEIPTS:
TAX REFUNDS
|
$ | 0.00 | |||
OTHER - Interest | $ | 14,476.50 | ||||
5. |
BALANCE
|
$ | 30,029,775.22 | |||
6. |
LESS: DISBURSEMENTS DURING CURRENT PERIOD
|
DATE
|
CHECK NO.
|
PAYEE
|
AMOUNT
|
TOTAL DISBURSEMENTS THIS PERIOD:
|
$ | 0.00 |
7. |
ENDING BALANCE:
|
$ | 30,029,775.22 | |||
8. |
TAX ACCOUNT NUMBER
|
|||||
DEPOSITORY NAME AND LOCATION Torrey Pines Bank, 4350 Executive Drive, Suite 130
San Diego, CA 92121
|
Balance per bank statement dated: 09/30/11
|
$ | 30,029,775.22 |
Deposit Date
|
Deposit Amount
|
__________
|
$_____________
|
__________
|
$_____________
|
__________
|
$_____________
|
Total deposits in transit
|
0.00
|
Check Number
|
Check Date
|
Check Amount
|
||
Total outstanding checks
|
<0.00>
|
|||
Bank statement adjustments**
|
||||
Adjusted bank balance
|
$ | 30,029,775.22 |
GENERAL ACCOUNT - Bk of America
|
$ | 0.00 | ||
GENERAL ACCOUNT - Torrey Pines Bk | $ | 81,296.74 | ||
PAYROLL ACCOUNT - Bk of America
|
$ | 0.00 | ||
PAYROLL ACCOUNT - Torrey Pines Bk | $ | 1,094.28 | ||
TAX ACCOUNT - Torrey Pines Bk
|
$ | 30,029,775.22 | ||
OTHER ACCOUNTS*:
Torrey Pines Bank
4350 Executive Drive, Suite 130
San Diego, CA 92121
Money Market Account
|
$ | 1,939,844.38 | ||
Torrey Pines Bank
4350 Executive Drive, Suite 130
San Diego, CA 92121
Rabbi Trust Assets
Money Market Account
|
$ | 6,929,997.56 | ||
OTHER MONIES*:_______________
|
$ | |||
PETTY CASH**
|
$ | 250.00 | ||
TOTAL CASH AVAILABLE
|
$ | 38,982,258.18 |
CREDITOR, LESSOR, ETC.
|
FREQUENCY OF PAYMENTS
(Mo./Qtr.)
|
AMOUNT OF PAYMENT
|
POST-PETITION PAYMENTS NOT MADE (NUMBER)
|
TOTAL DUE
|
888 Prospect LJ, LLC
|
Monthly | $5,205.13 | None | None |
TOTAL DUE
|
None |
GROSS SALES SUBJECT TO SALES TAX
|
$ | 0 | ||
TOTAL WAGES PAID
|
$ | 12,333.34 |
TOTAL POST-PETITION AMOUNTS OWING
|
AMOUNT DELINQUENT
|
DATE DELINQUENT AMOUNT DUE
|
|
FEDERAL WITHHOLDING
|
$ 0.00
|
$0.00
|
|
STATE WITHHOLDING
|
$
|
$
|
|
FICA - EMPLOYER'S SHARE
|
$
|
$
|
|
FICA - EMPLOYEE'S SHARE
|
$
|
$
|
|
FEDERAL UNEMPLOYMENT
|
$
|
$
|
|
STATE WITHHOLDING
|
$
|
$
|
|
SALES AND USE
|
$
|
$
|
|
REAL PROPERTY
|
$
|
$
|
|
OTHER: (SPECIFY)
|
$
|
$
|
|
TOTAL:
|
$
|
$
|
ACCOUNTS PAYABLE*
(POST-PETITION ONLY)
|
ACCOUNTS
Pre-Petition
|
RECEIVABLE
Post-Petition
|
|
30 days or less
|
None
|
None | None |
31 - 60 days
|
|||
61 - 90 days
|
|||
91 - 120 days
|
|||
Over 120 days
|
|||
TOTALS:
|
NAME OF
CARRIER
|
AMOUNT OF COVERAGE
|
POLICY
EXPIRATION
DATE
|
PREMIUM PAID
THROUGH:
|
||
General Liability
|
Hartford
|
$1,000,000/occurrence
|
3/15/12 | 3/15/12 | |
Worker Compensation
|
State Fund | $1,000,000/occurrence | 2/15/12 | 8/15/11 | |
|
|||||
Qtrly Period Ending
|
Total Disbursements
|
Qtrly Fees
|
Date Paid
|
Amount Paid
|
Qtrly Fee Still Owing
|
12/31/09
|
$3,100.00 | $325.00 | 01/29/10 | $325.00 | $0.00 |
3/31/10 | $165,607.22 | $1,625.00 |
04/07/10,
05/13/10
|
$325.00,
$1,300.00
|
$0.00 |
6/30/10 | $260,256.53 | $1,950.00 | 08/17/10 | $1,950.00 | $0.00 |
9/30/10 | $708,521.61 | $4,875.00 | 11/19/10 | $4,875.00 | $0.00 |
12/31/10 | $1,206,199.31 | $6,500.00 | 03/09/11 | $6,500.00 | $0.00 |
03/31/11 | $807,345.48 | $4,875.00 | 05/19/11 | $4,875.00 | $0.00 |
06/30/11 | $658,623.79 | $4,875.00 | 08/13/11 | $4,875.00 | $0.00 |
09/30/11 | $734,784.89 | $4,875.00 | $0.00 | $4,875.00 |
Name of Insider
|
Date of Order Authorizing Compensation
|
Authorized Gross Compensation*
|
Gross Compensation Paid During the Month
|
Anthony Rusnak | 3/11/10 | $148,000/year, plus additional amount in insider compensation request |
$12,333.34
|
Name of Insider
|
Date of Order Authorizing Payment
|
Description
|
Amount Paid During the Month
|
None
|
|||
Current Month
|
Cumulative Post-Petition
|
|||||||
Sales/Revenue:
|
||||||||
Gross Sales/Revenue
|
0.00 | 0.00 | ||||||
Less: Returns/Discounts
|
(0.00 | ) | (0.00 | ) | ||||
Net Sales/Revenue
|
0.00 | 0.00 | ||||||
Cost of Goods Sold:
|
||||||||
Beginning Inventory at cost Purchases
|
0.00 | 0.00 | ||||||
Less: Ending Inventory at cost
|
(0.00 | ) | (0.00 | ) | ||||
Cost of Goods Sold (COGS)
|
0.00 | 0.00 | ||||||
Gross Profit
|
||||||||
Other Operating Income (Itemize)
|
0.00 | 0.00 | ||||||
Operating Expenses:
|
||||||||
Payroll - Insiders
|
13,633.34 | 426,227.07 | ||||||
Payroll - Other Employees
|
0.00 | 128,944.97 | ||||||
Payroll Taxes
|
197.68 | 40,105.35 | ||||||
Other Taxes (Itemize)
|
0.00 | 0.00 | ||||||
Depreciation and Amortization
|
0.00 | 0.00 | ||||||
Lease Expense
|
5,205.13 | 124,867.16 | ||||||
Insurance
|
0.00 | 187,184.83 | ||||||
Telephone and Utilities
|
348.63 | 20,567.37 | ||||||
Repairs, Maintenance, Janitorial, Office, Plant Service
|
210.00 | 12,574.88 | ||||||
Travel and Entertainment (Itemize)
|
||||||||
Mileage, Parking and Auto | 0.00 | 4,653.30 | ||||||
Meals | 0.00 | 868.42 | ||||||
Airfare | 0.00 | 12,500.00 | ||||||
Miscellaneous Operating Expenses (Itemize) | ||||||||
Insurance - Employees | 0.00 | (136,252.87 | ) | |||||
Salary Savings Plan Expense | 0.00 | 12,223.20 | ||||||
Workers Compensation Insurance | 0.00 | 6,851.83 | ||||||
Parking Services | 125.00 | 8,425.00 | ||||||
Storage and Moving | 211.00 | 12,786.00 | ||||||
Bank Service Charges | 10.00 | 3,953.68 | ||||||
Payroll Fees | 116.00 | 3,311.13 | ||||||
Office Supplies | 0.00 | 485.21 | ||||||
Postage and Shipping | 0.00 | 2,141.15 | ||||||
Dues and Subscriptions | 0.00 | 1,254.00 | ||||||
Employee Expense | 0.00 | (58.05 | ) | |||||
Advertising | 0.00 | (3,200.00 | ) | |||||
Taxes and Licenses | 0.00 | 1,214.00 | ||||||
Fines, Penalties and Late Charges | 0.00 | 2,815.63 | ||||||
Director Expense | 0.00 | 10,000.00 | ||||||
US Trustee Fees | 0.00 | 23,405.58 | ||||||
Total Operating Expenses
|
20,056.78 | 907,848.84 | ||||||
Net Gain/(Loss) from Operations
|
(20,056.78 | ) | (907,848.84 | ) | ||||
Non-Operating Income:
|
||||||||
Interest on Cash Accounts
|
19,915.59 | 181,793.77 | ||||||
Gain (Loss) on Sale of Assets
|
0.00 | 29,384.84 | ||||||
|
Prudential Stock Dividends | 0.00 | 1,332.10 | ||||||
Mark to Market on CSV of Life Insurance Policies | 0.00 | 158,385.18 | ||||||
Income Taxes | 0.00 | 2,703,141.71 | ||||||
Interest on Income Tax Refunds | 0.00 | 588,627.56 | ||||||
Total Non-Operating income | 19,915.59 | 3,662,665.16 | ||||||
Non-Operating Expenses:
|
||||||||
Interest Expense
|
0.00 | 0.00 | ||||||
Legal Expense
|
271,105.50 | 4,016,382.86 | ||||||
Audit and Accounting
|
44,320.00 | 645,787.48 | ||||||
Consulting | 12,381.31 | 118,942.26 | ||||||
Other (Itemize) | 0.00 | (2,872.17 | ) | |||||
Total Non-Operating Expenses
|
327,806.81 | 4,778,240.43 | ||||||
NET INCOME/(LOSS)
|
(327,948.00 | ) | (2,023,424.11 | ) |
Current Month End
|
||||||||
ASSETS
|
||||||||
Current Assets:
|
||||||||
Unrestricted Cash
|
38,982,258.18 | |||||||
Security Deposit Held by Landlord | 30,971.51 | |||||||
Total Current Assets
|
39,013,229.69 | |||||||
Other Assets (Net of Amortization):
|
||||||||
Due from Insiders
|
0.00 | |||||||
Other (Itemize)
|
||||||||
Cash Improperly Withheld in former ICB account
(City National Bank)
|
47,285.39 | |||||||
Residual Interest in Securities | 121,843.39 | |||||||
Investment in ITLA Mortgage Loan
Securitization 2002-1
|
75,000.00 | |||||||
Current and Deferred Income Taxes | 6,989.46 | |||||||
Delaware Franchise Taxes | 99,945.00 | |||||||
Prepaid Expenses, Net | 36,464.00 | |||||||
Interests in Insurance Policies | 441,240.00 | |||||||
Other | 35,873.82 | |||||||
Total Other Assets
|
864,641.06 | |||||||
TOTAL ASSETS
|
39,877,870.75 | |||||||
LIABILITIES
|
||||||||
Postpetition Liabilities:
|
||||||||
Accounts Payable
|
0.00 | |||||||
Taxes Payable
|
0.00 | |||||||
Professional fees
|
0.00 | |||||||
Secured Debt
|
0.00 | |||||||
Total Postpetition Liabilities
|
0.00 | |||||||
Prepetition Liabilities:
|
||||||||
Secured Liabilities
|
0.00 | |||||||
Priority Liabilities
|
0.00 | |||||||
Unsecured Liabilities
|
99,738,065.94 |
Total Prepetition Liabilities
|
99,738,065.94 | |||||||
TOTAL LIABILITIES
|
99,738,065.94 | |||||||
EQUITY:
|
||||||||
Prepetition Owners' Equity
|
(57,741,774.08 | ) | ||||||
Postpetition Profit/(Loss)
|
(2,023,424.11 | ) | ||||||
Direct Charges to Equity
|
(94,997.00 | ) | ||||||
TOTAL EQUITY
|
(59,860,195.19 | ) | ||||||
TOTAL LIABILITIES & EQUITY
|
39,877,870.75 |
1.
|
Has the debtor-in-possession made any payments on its pre-petition unsecured debt, except as have been authorized by the court?
|
2.
|
Has the debtor-in-possession during this reporting period provided compensation or remuneration to any officers, directors, principals, or other insiders without appropriate authorization?
|
5.
|
Attach copies of all Orders granting relief from the automatic stay that were entered during the reporting period. NONE
|
Date: October 20, 2011
|
/s/ Anthony Rusnak
|
|||
Principal for debtor-in-possession
|