EX-99.12 14 doc13.txt
EXHIBIT 99.12 ==================================================================================================== OFFICE OF THE UNITED STATES TRUSTEE ==================================================================================================== In re: Chapter 11 Trustee Operating Report Performance Asset Management Fund IV, Ltd. James J. Joseph, Trustee 2029 Century Park East, 3rd Floor Report Number : 12 Page 1 of 3 Los Angeles, CA 90067 ------------------------------------------- Chapter 11 Case No. SA 98 27105 RA For the Period From : 12/01/99 to 12/31/99 ====================================================================================================
1. Profit and Loss Statement A. Related to Business Operations Gross Sales / Rents 894,327.09 ------------ Less : Sales Returns and Discounts 0.00 ------------ Net Sales 894,327.09 ------------ Less : Cost of Goods Sold Collection Costs 0.00 ------------ Commissions, Escrow Fees & Closing Costs 0.00 ------------ Less : Ending Inventory at Cost 0.00 ------------ Cost of Goods Sold 0.00 ------------ Gross Profit 894,327.09 ------------ Other Operating Revenues 0.00 ------------ Less : Operating Expenses: Officer Compensation 0.00 ------------ Salaries and Wages - 0.00 ------------ Total Salaries and Wages 0.00 ------------ Employee Benefits and Pensions 0.00 ------------ Payroll Taxes 0.00 ------------ Real Estate Taxes 0.00 ------------ Federal and State Income Taxes 0.00 ------------ Total Taxes 0.00 ------------ Rent and Lease Exp.(Real Property and Personal Property) 0.00 ------------ Interest Expense (Mortgage, Loan, Etc.) 0.00 ------------ Insurance 0.00 ------------ Automobile Expenses 0.00 ------------ Utilities (Gas, Electricity, Water, Telephone, Etc.) 0.00 ------------ Depreciation and Amortization 0.00 ------------ Repairs and Maintenance 0.00 ------------ Advertising 0.00 ------------ Supplies-Office Expenses, Photocopies, Etc. 0.00 ------------ Bad Debts 0.00 ------------ Miscellaneous Operating Expenses (See Attached) 538,911.27 ------------ Total Operating Expenses 538,911.27 ------------ Net Gain / Loss from Business Operations 355,415.82 ------------ B. Not Related to Business Operations Income : Interest Income 31,738.92 ------------ Other Non-Operating Revenues (Specify) 0.00 ------------ Gross Proceeds on Sale of Assets 0.00 ------------ Less : Original Cost of Assets plus Expenses of Sale 0.00 ------------ Net Gain / Loss of Sale of Assets 0.00 ------------ Total Non-Operating Income 31,738.92 ------------ Expenses Not Related to Business Operations: Legal and Professional Fees/Costs (See Section 7 - Professional Fees) 0.00 ------------ Other Non-Operating Expenses (U.S. Trustee Funds) 0.00 ------------ Total Non-Operating Expenses 0.00 ------------ NET INCOME / LOSS FOR PERIOD 387,154.74 ============
================================================================================ OPERATING REPORT ================================================================================ ================================================================================ CHAPTER 11 TRUSTEE OPERATING REPORT NO : 12 PAGE 2 OF 3 ================================================================================ 2. Aging of Accounts Payable and Accounts Receivable (exclude pre-petition accounts payable) :
================= ========================= ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE ================= ========================= Current - 30 Days $ 0.00 $ 0.00 ----------------- ------------------------- Overdue 31 - 60 Days $ 0.00 $ 0.00 ----------------- ------------------------- Overdue 61 - 90 Days $ 0.00 $ 0.00 ----------------- ------------------------- Overdue 91 - 120 Days $ 0.00 $ 0.00 ----------------- ------------------------- Overdue Over 120 Days $ 0.00 $ 0.00 ================= ========================= TOTAL $ 0.00 $ 0.00 ================= ========================= Includes Pre-Petition A/R
3. Statement of Status of Payments to Secured Creditors and Lessors :
============================================================================ FREQUENCY POST-PETITION OF PAYMENT PER AMOUNT NEXT PAYMENTS NOT MADE * CREDITOR / CONTRACT / LEASE OF EACH PAYMENT LESSOR (I.E., MO., QTR.) PAYMENT DUE NUMBER AMOUNT ========== ================= ======= ======= =================== ====== ---------- ----------------- ------- ------- ------------------- ------ ---------- ----------------- ------- ------- ------------------- ------ ---------- ----------------- ------- ------- ------------------- ------ ============================================================================
4. Tax Liability Gross Payroll Expenses for Period : $0.00 ---------------- Gross Sales for Period Subject to Sales Tax : $0.00 ----------------
=========================================================== DATE PAID AMOUNT PAID * POST-PETITION TAXES STILL OWING ========= ============== ================================ Federal Payroll and Withholding Taxes $ 0.00 State Payroll and Withholding Taxes $ 0.00 $ 0.00 --------- -------------- -------------------------------- Real Property Taxes $ 0.00 $ 0.00 $ 0.00 $ 0.00 --------- -------------- -------------------------------- $ 0.00 $ 0.00 $ 0.00 $ 0.00 --------- -------------- -------------------------------- $ 0.00 $ 0.00 =========================================================== * Attach photocopies of depository receipts from taxing authorities or Financial institutions to verify that such deposits have been made.
5. Insurance Coverage
============================================================== CARRIER / AGENT NAME AMOUNT OF POLICY PREMIUM PAID COVERAGE EXPIRATION DATE THROUGH DATE ==================== ========= =============== ============ Worker's Compensation Not Applicable -------------------- --------- --------------- ------------ Liability Not Applicable -------------------- --------- --------------- ------------ Fire and Extended Coverage Not Applicable -------------------- --------- --------------- ------------ Property Building Contents Not Applicable -------------------- --------- --------------- ------------ Flood Not Applicable -------------------- --------- --------------- ------------ Earthquake Not Applicable -------------------- --------- --------------- ------------ Business Income Not Applicable -------------------- --------- --------------- ------------ Boiler / Property Damage Not Applicable ==============================================================
================================================================================ CHAPTER 11 TRUSTEE OPERATING REPORT NO : 12 PAGE 3 OF 3 ================================================================================ 6. Questions: A. Has the Trustee provided compensation to any officers, directors, shareholders, or other principals without the approval of the Office of the United States Trustee? : Yes Explain: --- ---------------------------------------- XX : No --- B. Has the Trustee subsequent to the filing of the petition, made any payments on its pre-petition unsecured debt, except as have been authorized by the Court? : Yes Explain: --- ---------------------------------------- XX : No --- 7. Statement of Unpaid Professional Fees (Post-Petition Amounts Only) :
======================================================================================= NAME OF PROFESSIONAL STATE TYPE OF PROFESSIONAL TOTAL POST-PETITION AMOUNT UNPAID (ATTORNEY, ACCOUNTANT, ETC.) CURRENT TOTAL TO DATE ==================== ============================ ================= ================ -------------------- ---------------------------- ----------------- ---------------- -------------------- ---------------------------- ----------------- ---------------- -------------------- ---------------------------- ----------------- ---------------- -------------------- ---------------------------- ----------------- ---------------- =======================================================================================
8. Narrative Reports of Significant Events and Events out of the Ordinary Course of Business: (Attach separate sheet if necessary) 9. Quarterly Fees: (This Fee must be paid to the United States Trustee every Calendar quarter)
========================================================================================================== QUARTERLY PERIOD TOTAL DISBURSEMENTS QUARTERLY FEE DATE PAID AMOUNT PAID CHECK NO. QUARTERLY FEE REPORTS PER QUARTER STILL OWING ================ ==================== ============== ========= ============ ========= ============== 12/31/98 $ 0.00 $ 250.00 01/27/99 $ 250.00 10001 $ 0.00 ---------------- -------------------- -------------- --------- ------------ --------- -------------- 03/31/99 $ 73,884.00 $ 500.00 04/21/99 $ 500.00 10006 $ 0.00 ---------------- -------------------- -------------- --------- ------------ --------- -------------- 06/30/99 $ 519,356.75 $ 3,750.00 07/23/99 $ 3,750.00 10013 $ 0.00 ---------------- -------------------- -------------- --------- ------------ --------- -------------- 09/30/99 $ 400,673.00 $ 3,750.00 10/28/99 $ 3,750.00 10014 ---------------- -------------------- -------------- --------- ------------ --------- -------------- ---------------- -------------------- -------------- --------- ------------ --------- -------------- ---------------- -------------------- -------------- --------- ------------ --------- -------------- ---------------- -------------------- -------------- --------- ------------ --------- -------------- ==========================================================================================================
I, James J. Joseph, Trustee, declare under penalty of perjury that the information contained in the above Trustee Operating Report is true and complete to the best of my knowledge. Note: The Trustee and his professionals are presently working on a motion to allocate among debtors. Pending that, all entries on this Operating Statement are for information only. Date: 1/26/00 /s/ James J. Joseph ------------------- ------------------------------------- James J. Joseph, Trustee Performance Asset Management Fund IV, Ltd. James J. Joseph, Trustee 2029 Century Park East 3rd Floor Los Angeles, CA 90067 Chapter 11 Case No. SA 98-27105 RA Operating Report # 12 From : 12/01/99 To : 12/31/99
Schedule of Miscellaneous Operating Expenses -------------------------------------------- ------------------------------------ --------------------------- -------------- ------------- EXPENSE VENDOR AMOUNT TOTAL ------------------------------------ --------------------------- -------------- ------------- NLEX PURCHASE PAM FUND PURCHASE ACC $ 5,430.90 $ 5,430.90 ACQUISTION FEE FOR LOT#1151 PARTNERSHIP RESERVE $ 543.09 $ 543.09 ACQUISTION FEE FOR LOT#43-N PARTNERSHIP RESERVE $ 1,403.24 $ 1,403.24 ACQUISTION FEE FOR LOT#43-G PARTNERSHIP RESERVE $ 3,106.14 $ 3,106.14 PROFESSIONAL FEES VCS OPERATING $ 470,043.04 $ 470,043.04 CHASE MANHATTAN PORT. PURCHASE PAM FUND PURCHASE ACC $ 18,032.53 $ 18,032.53 CHASE MANHATTAN PORT. PURCHASE PAM FUND PURCHASE ACC $ 16,660.41 $ 16,660.41 CHASE MANHATTAN PORT. PURCHASE PAM FUND PURCHASE ACC $ 20,023.53 $ 20,023.53 ACQUISTION FEE FOR LOT#30-S & 43-Q PCM $ 3,668.39 $ 3,668.39 ============ TOTAL MISCELLANEOUS OPERATING EXPENSES $ 538,911.27
================================================================================ Page 1 of 1 OFFICE OF THE UNITED STATES TRUSTEE CENTRAL DISTRICT OF CALIFORNIA ================================================================================ IN RE: TRUSTEE INTERIM STATEMENT PERFORMANCE ASSET MGMT STATEMENT NUMBER: 012 FUND IV, LTD FOR THE PERIOD FROM: 120199 JAMES J. JOSEPH, TO: 123199 CHAPTER 11 TRUSTEE ----------------------- CASE NO. SA 98-27105 RA =======================
Operating 30-Day C.D. Money Market Money Market Account Account Account Account CASH ACTIVITY ANALYSIS 14-088-407 426-557-0001 6704-559087 14-088-679 ------------ ------------ ----------- ------------ A. Total Receipts Per All Prior Interim Statements . . . . . . . . . . . . . . . . . 1,027,278.75 814,046.53 654,976.41 8,194,993.39 ------------ ------------ ------------ ------------ B. Less : Total Disbursements Per All Prior Interim Statements . . . . . . . . . . 1,027,178.75 0.00 654,976.41 1,150,757.76 ------------ ------------ ----------- ------------ C. Beginning Balance. . . . . . . . . . . . . . . 100.00 814,046.53 0.00 7,044,235.63 ============ ============ =========== ============ D. Receipts During Current Period Per Attached Schedule. . . . . . . . 0.00 3,256.19 0.00 922,809.82 Total Receipts . . . . . . . . . . . 0.00 3,256.19 0.00 922,809.82 ------------ ------------ ----------- ------------ E. Balance Available. . . . . . . . . . . . . . . 100.00 817,302.72 0.00 7,967,045.45 ------------ ------------ ----------- ------------ F. Less : Disbursements During Period Per Attached Schedule. . . . . . . . 0.00 0.00 0.00 538,911.27 Total Disbursements. . . . . . . . . 0.00 0.00 0.00 538,911.27 ============ ============ =========== ============ G. Ending Balance 100.00 817,302.72 0.00 7,428,134.18 ============ ============ =========== ============ H. Disbursements for Quarterly Fees . . . . . . . 0.00 0.00 0.00 538,911.27 ============ ============ =========== ============ ACCOUNT CLOSED 03/01/99 I. (1) Operating Account : (a) Imperial Bank, 9757 Wilshire Blvd., Beverly Hills, CA 90212 (b) Account Number: 14-088-407 (2) 30-Day C.D. (a) Imperial Bank, 9757 Wilshire Blvd., Beverly Hills, CA 90212 (b) Account Number: 426-557-0001 (3) Money Market Account (a) Wells Fargo, 1661 No. Raymond, Anaheim, CA 92801 (b) Account Number: 6704-559087 (4) Money Market Account (a) Imperial Bank, 9757 Wilshire Blvd., Beverly Hills, CA 90212 (b) Account Number: 14-088-679
BOND: $12,000,000.00 BANKRUPTCY JUDGE : HON. ROBERT W. ALBERTS I, James J. Joseph, declare under penalty of perjury that the information contained in the above Interim Statement is true and complete to the best of my knowledge. Dated: 1/26/00 Signed: /s/ James J. Joseph ---------------------------- ---------------------------------------------- James J. Joseph, Trustee ================================================================================
CASE NAME : PERFORMANCE ASSET MGMT FUND IV LTD CASE NUMBER : SA 98-27105 RA STATEMENT NUMBER: 012 RECEIPTS FOR THE PERIOD FROM: 12019 TO: 123199 OPERATING ACCOUNT # 14-088-407 AMOUNT --------------------------------------------------------------------------------- ------------- TOTAL 0.00 =============
CASE NAME : PERFORMANCE ASSET MGMT FUND IV, LTD CASE NUMBER : SA 98-27105 RA STATEMENT NUMBER: 012 DISBURSEMENTS FOR THE PERIOD FROM: 12019 TO: 123199 OPERATING ACCOUNT # 14-088-407 CHECK NAME OF PAYEE DESCRIPTION AMOUNT NUMBER DATE -------------------------------------------------------------------------------------------------- ----------- TOTAL 0.00 ===========
CASE NAME : PERFORMANCE ASSET MGMT FUND IV CASE NUMBER : SA 98-27105 STATEMENT NUMBER: 012 RECEIPTS FOR THE PERIOD FROM: 12019 TO: 123199 30-Day C.D. Account #4265-570-001 AMOUNT -------------------------------------------------------------------- 12/23 - IMPERIAL BANK INTEREST FOR DECEMBER 3,256.19
----------- TOTAL 3,256.19 =========== CASE NAME : PERFORMANCE ASSET MGMT FUND IV CASE NUMBER : SA 98-27105 RA STATEMENT NUMBER: 012 DISBURSEMENTS FOR THE PERIOD FROM: 12019 TO: 123199 30-Day C.D. Account # 426-557-0001 CHECK NAME OF PAYEE DESCRIPTION AMOUNT NUMBER DATE ------------------------------------------------------------------------- --------- TOTAL 0.00 ========= CASE NAME : PERFORMANCE ASSET MGMT FUND IV CASE NUMBER : SA 98-27105 STATEMENT NUMBER: 012 RECEIPTS FOR THE PERIOD FROM: 12019 TO: 123199 MONEY MARKET ACCOUNT 6704-559087 AMOUNT ----------------------------------------------------------------- ----------- TOTAL 0.00 ===========
CASE NAME : PERFORMANCE ASSET MGMT FUND IV CASE NUMBER : SA 98-27105 RA STATEMENT NUMBER: 012 DISBURSEMENTS FOR THE PERIOD FROM: 12019 TO: 123199 MONEY MARKET ACCOUNT 6704-559087 CHECK NAME OF PAYEE DESCRIPTION AMOUNT NUMBER DATE ---------------------------------------------------------------------------------------------- ---------- TOTAL 0.00 ==========
CASE NAME : PERFORMANCE ASSET MGMT FUND, IV, LTD CASE NUMBER : SA 98 27105 RA STATEMENT NUMBER: 012 RECEIPTS FOR THE PERIOD FROM: 12019 TO: 123099 MONEY MARKET ACCOUNT # 14-088-679 AMOUNT ------------------------------------------------------------------------------------------ 12/01-PCM TSF FOR EXPRESS COLLECTIONS PORTFOLIO SALE 2,146.41 12/07-PCM PORTFOLIO SALE 34,956.15 12/09-DJC,INC. PORTFOLIO PURCHASE 79,790.32 12/09-PARTNERSHIP RESERVE 1999 SEPT. COLLECTION SHARE 305,755.70 12/10-PARTNERSHIP RESERVE CHICAGO TITLE DEPOSIT 101,823.85 12/17-FIRST NAT'L ACCEPTANCE PORTFOLIO PURCHASE 1,099.40 12/17-JACKSON CAPITAL, INC. PORTFOLIO PURCHASE 4,608.56 12/20-DJC, INC. PORTFOLIO PURCHASE 19,891.32 12/28-PARTNERSHIP RESERVE OCTOBER 1999 COLLECTION SHARE 288,696.70 12/29-WIRE ACCOUNT INTERGRATED SERVICES GROUP 4,967.28 12/29-WIRE ACCOUNT PROFESSIONAL RECOVERY SERVICES 50,591.40 12/31-IMPERIAL BANK DECEMBER INTEREST 28,482.73 ------------ TOTAL 922,809.82 ============
CASE NAME : PERFORMANCE ASSET MGMT FUND, IV, LTD CASE NUMBER : SA 98 27105 RA STATEMENT NUMBER: 012 DISBURSEMENTS FOR THE PERIOD FROM: 12019 TO: 123199 MONEY MARKET ACCOUNT # 14-088-679 CHECK NAME OF PAYEE DESCRIPTION AMOUNT NUMBER DATE ------------------------------------------------------------------------------------------------------------------ PAM FUND PURCHASE ACCOUNT NLEX PURCHASE 5,430.90 TSF 12/06/99 PARTNERSHIP RESERVE AQUISTION FEE FOR LOT# 1151 543.09 TSF 12/10/99 PARTNERSHIP RESERVE AQUISTION FEE FOR PORTFOLIO# 43-N 1,403.24 TSF 12/10/99 PARTNERSHIP RESERVE AQUISTION FEE FOR PORTFOLIO# 43-G 3,106.14 TSF 12/10/99 VCS OPERATING TRANSFER FOR PROFESSIONAL FEES 470,043.04 TSF 12/16/99 PAM FUND PURCHASE ACCOUNT CHASE MANHATTAN BANK PORTFOLIO PURCHASE 30-R 18,032.53 TSF 12/21/99 PAM FUND PURCHASE ACCOUNT CHASE MANHATTAN BANK PORTFOLIO PURCHASE 43-Q 16,660.41 TSF 12/26/99 PAM FUND PURCHASE ACCOUNT CHASE MANHATTAN BANK PORTFOLIO PURCHASE 30-S 20,023.53 TSF 12/26/99 PCM OPERATING AQUSITION FEE FOR PORTFOLIO# 30-S & 43-Q 3,668.39 TSF 12/26/99 ---------- TOTAL 538,911.27 ==========