EX-99.23 25 doc24.txt
EXHIBIT 99.23 ==================================================================================================== 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 : 23 Page 1 of 3 Los Angeles, CA 90067 ------------------------------------------- Chapter 11 Case No. SA 98 27105 RA For the Period From : 11/01/00 to 11/30/00 ====================================================================================================
1. Profit and Loss Statement A. Related to Business Operations Gross Sales / Rents 197,526.07 ------------ Less : Sales Returns and Discounts 0.00 ------------ Net Sales 197,526.07 ------------ 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 197,526.07 ------------ 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) 0.00 ------------ Total Operating Expenses 0.00 ------------ Net Gain / Loss from Business Operations 197,526.07 ------------ B. Not Related to Business Operations Income : Interest Income 33,190.41 ------------ 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 33,190.41 ------------ 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 230,716.48 ============
================================================================================ OPERATING REPORT ================================================================================ ================================================================================ CHAPTER 11 TRUSTEE OPERATING REPORT NO : 23 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 : 23 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 $ 0.00 ---------------- -------------------- -------------- --------- ------------ --------- -------------- 12/31/99 $ 693,765.00 $ 3,750.00 01/27/00 $ 3,750.00 10015 $ 0.00 ---------------- -------------------- -------------- --------- ------------ --------- -------------- 03/31/00 $ 163,473.00 $ 1,250.00 05/19/00 $ 1,250.00 10018 $ 0.00 ---------------- -------------------- -------------- --------- ------------ --------- -------------- 06/30/00 $ 48,633.00 $ 500.00 08/09/00 $ 500.00 10020 $ 0.00 ---------------- -------------------- -------------- --------- ------------ --------- -------------- 09/30/00 $ 550,254.00 $ 3,750.00 10/20/00 $ 3,750.00 10021 $ 0.00 ========================================================================================================== 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 has obtained an order tom allocate among the administratively consolidated estates when court approved payments to professionals are made. Accrued fees for all estates are reflected on the Vision Capital Services operating report in that all cases are administratively consolidated under the Vision case number.
Date: 12/26/00 /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 # 23 From : 11/01/00 To : 11/30/00
Schedule of Miscellaneous Operating Expenses -------------------------------------------- ------------------------------------ --------------------------- -------------- ------------- EXPENSE VENDOR AMOUNT TOTAL ------------------------------------ --------------------------- -------------- ------------- 3RD APPROVED FEE APPLICATION VISION(OPERATING) $ 131,481.57 $ 131,481.57 --------------------------- 3RD APPROVED FEES & COSTS VISION(OPERATING) $ 191,443.43 $ 191,443.43 GALEWICK LEGAL REIMBURSEMENT PAM FUND PURCHASE ACC $ 8,299.50 $ 8,299.50 ADJUST COLL.RE:08/00,09/00 & 10/00 PCM(OPERATING) $ 45,220.56 $ 45,220.56 ACQUISITION FEE PORT#1074 PCM(OPERATING) $ 1,104.85 $ 1,104.85 ACQUISITION FEE PORT#1070 & 1071 PCM(OPERATING) $ 2,280.71 $ 2,280.71 ACQUISITION FEE PORT#1051 PCM(OPERATING) $ 2,865.62 $ 2,865.62 PORTFOLIO PURCHASE# 1131 PAM FUND PURCHASE ACC $ 24,789.05 $ 24,789.05 ACQUISITION FEE PORT#1131 PCM(OPERATING) $ 2,478.90 $ 2,478.90 --------------------------- 3RD APPROVED FEES & COSTS VISION(OPERATING) $ 70,460.07 $ 70,460.07 PCM RECEIVABLES FOR 10/31/00 PCM(OPERATING) $ 10,428.77 $ 10,428.77 ============= TOTAL 490,853.03
================================================================================ Page 1 of 1 OFFICE OF THE UNITED STATES TRUSTEE CENTRAL DISTRICT OF CALIFORNIA ================================================================================ IN RE: TRUSTEE INTERIM STATEMENT PERFORMANCE ASSET MGMT STATEMENT NUMBER: 023 FUND IV, LTD FOR THE PERIOD FROM: 110100 JAMES J. JOSEPH, TO: 113000 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 14-088-407 426-570-001 6704-559087 14-088-679 ------------ ------------ ----------- ------------- A. Total Receipts Per All Prior Interim Statements . . . . . . . . . . . . . . . . . 1,146,587.60 823,854.21 654,976.41 13,054,318.32 ------------ ------------ ------------ ------------- B. Less : Total Disbursements Per All Prior Interim Statements . . . . . . . . . . 1,146,487.60 823,854.21 654,976.41 3,305,158.71 ------------ ------------ ----------- ------------- C. Beginning Balance. . . . . . . . . . . . . . . 100.00 0.00 0.00 9,749,159.61 ============ ============ =========== ============= D. Receipts During Current Period Per Attached Schedule. . . . . . . . 0.00 0.00 0.00 230,716.48 Total Receipts . . . . . . . . . . . 0.00 0.00 0.00 230,716.48 ------------ ------------ ----------- ------------- E. Balance Available. . . . . . . . . . . . . . . 100.00 0.00 0.00 9,979,876.09 ------------ ------------ ----------- ------------- F. Less : Disbursements During Period Per Attached Schedule. . . . . . . . 0.00 0.00 0.00 490,853.03 Total Disbursements. . . . . . . . . 0.00 0.00 0.00 490,853.03 ============ ============ =========== ============= G. Ending Balance 100.00 0.00 0.00 9,489,023.06 ============ ============ =========== ============= H. Disbursements for Quarterly Fees . . . . . . . 0.00 0.00 0.00 490,853.03 ============ ============ =========== ============= ACCOUNT CLOSED ACCOUNT CLOSED 02/22/00 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: 426-570-001 (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: 12/26/00 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: 023 RECEIPTS FOR THE PERIOD FROM: 110100 TO: 113000 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: 023 DISBURSEMENTS FOR THE PERIOD FROM: 110100 TO: 113000 OPERATING ACCOUNT # 14-088-407 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: 023 RECEIPTS FOR THE PERIOD FROM: 110100 TO: 113000 MONEY MARKET ACCOUNT # 14-088-679 AMOUNT --------------------------------------------------------------------------------------------- 11/06-PCM(COLLECTION) COLLECTION ITEM 976.08 11/06-PCM(COLLECTION) COLLECTION ITEM 680.20 11/15-SUSPENSE ACCOUNT CHASE MANHATTAN BUYBACK SPLIT# 2196211 1,497.35 11/17-PCM(PARTNERSHIP RESERVE) OCTOBER 2000 COLLECTION SHARE 192,004.59 11/27-WIRE ACCOUNT HARRISON ASSET MANAGEMENT SPLIT(11/22/00) 2,367.85 11/30-IMPERIAL BANK NOVEMBER 2000 INTEREST 33,190.41 ------------ TOTAL 230,716.48 ============
CASE NAME : PERFORMANCE ASSET MGMT FUND, IV, LTD CASE NUMBER : SA 98 27105 RA STATEMENT NUMBER: 023 DISBURSEMENTS FOR THE PERIOD FROM: 110100 TO: 113000 MONEY MARKET ACCOUNT # 14-088-679 CHECK NAME OF PAYEE DESCRIPTION AMOUNT NUMBER DATE -------------------------------------------------------------------------------------------------------------------- VISION(OPERATING) 3RD APPROVED FEE APPLICATION 131,481.57 TSF 11/03/00 VISION(OPERATING) TSF RE:3RD INTERIM APPROVED FEES AND COSTS 191,443.43 TSF 11/06/00 PAM FUND PURCHASE ACCOUNT TSF RE: GALEWICK LEGAL REIMBURSEMENT 8,299.50 TSF 11/08/00 PCM(OPERATING) ADJUST. COLL RE:08/00,09/00 & 10/00 45,220.56 TSF 11/14/00 PCM(OPERATING) ACQUISITION FEES RE: PORTFOLIO# 1074 1,104.85 TSF 11/14/00 PCM(OPERATING) ACQUISITION FEES RE: PORTFOLIO# 1070 & 1071 2,280.71 TSF 11/14/00 PCM(OPERATING) ACQUISITION FEES RE: PORTFOLIO# 1051 2,865.62 TSF 11/14/00 PAM FUND PURCHASE ACCOUNT RE: PORTFOLIO PURCHASE # 1131 24,789.05 TSF 11/16/00 PCM(OPERATING) ACQUISITION FEES RE: PORTFOLIO# 1131 2,478.90 TSF 11/16/00 VISION(OPERATING) 3RD APPROVED FEES AND COSTS FOR PCM 70,460.07 TSF 11/22/00 PCM(OPERATING) PCM RECEIVABLES FOR 10/31/00 10,428.77 TSF 10/31/00 ---------- TOTAL 490,853.03 ==========