EX-99.26 28 doc27.txt
EXHIBIT 99.26 ==================================================================================================== OFFICE OF THE UNITED STATES TRUSTEE ==================================================================================================== In re: Chapter 11 Trustee Operating Report Performance Asset Management Fund III, Ltd. James J. Joseph, Trustee 2029 Century Park East, 3rd Floor Report Number : 26 Page 1 of 3 Los Angeles, CA 90067 ------------------------------------------- Chapter 11 Case No. SA 98-27101 RA For the period From : 02/01/00 to 02/28/01 ====================================================================================================
1. Profit and Loss Statement A. Related to Business Operations Gross Sales / Rents 75,235.96 ---------- Less : Sales Returns and Discounts 0.00 ---------- Net Sales 75,235.96 ---------- 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 75,235.96 ---------- 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) 59,816.12 ---------- Total Operating Expenses 59,816.12 ---------- Net Gain / Loss from Business Operations 15,419.84 ---------- B. Not Related to Business Operations Income : Interest Income 8,161.85 --------- 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 on Sale of Assets 0.00 --------- Total Non-Operating Income 8,161.85 ---------- 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 23,581.69 ==========
================================================================================ OPERATING REPORT ================================================================================ ================================================================================ CHAPTER 11 TRUSTEE OPERATING REPORT NO : 26 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 : 26 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 REPORTS PER QUARTER QUARTERLY FEE DATE PAID AMOUNT PAID CHECK NO. STILL OWING ================ ==================== ============== ========= ============ ========= ============== 12/31/00 $ 596,800.00 $ 750.00 01/31/00 $ 750.00 10021 $ 0.00 ---------------- -------------------- -------------- --------- ------------ --------- -------------- 03/31/99 $ 18,993.00 $ 500.00 04/21/99 $ 500.00 10006 $ 0.00 ---------------- -------------------- -------------- --------- ------------ --------- -------------- 06/30/99 $ 174,112.61 $ 1,250.00 07/23/99 $ 1,250.00 10012 $ 0.00 ---------------- -------------------- -------------- --------- ------------ --------- -------------- 09/30/99 $ 239,097.00 $ 1,500.00 10/28/99 $ 1,500.00 10013 $ 0.00 ---------------- -------------------- -------------- --------- ------------ --------- -------------- 12/31/99 $ 252,223.00 $ 1,500.00 01/27/00 $ 1,500.00 10014 $ 0.00 ---------------- -------------------- -------------- --------- ------------ --------- -------------- 03/31/00 $ 196,418.00 $ 1,250.00 05/19/00 $ 1,250.00 10017 $ 0.00 ---------------- -------------------- -------------- --------- ------------ --------- -------------- 6/30/00 $ 37,703.00 $ 500.00 08/09/00 $ 500.00 10019 $ 0.00 ---------------- -------------------- -------------- --------- ------------ --------- -------------- 09/30/00 $ 275,310.00 $ 1,500.00 10/20/00 $ 1,500.00 10020 $ 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: 3/20/01 /s/ James J Joseph ------------------- ------------------------------------- James J. Joseph, Trustee Performance Asset Management Fund III, Ltd. James J. Joseph, Trustee 2029 Century Park East 3rd Floor Los Angeles, CA 90067 Chapter 11 Case No. SA 98-27101 Operating Report # 26 From : 02/01/01 To : 02/28/01
Schedule of Miscellaneous Operating Expenses -------------------------------------------- ------------------------------------ --------------------------- -------------- ------------- EXPENSE VENDOR AMOUNT TOTAL ------------------------------------ --------------------------- -------------- ------------- TSF FUNDS FOR PORTFOLIO PCM 53,033.07 53,033.67 PURCHASE# 220 (PARTNERSHIP RESERVE) TSF FOR ACQUSITION FEES PCM(OPERATING) 5,303.30 5,303.30 FOR PORT# 220 TSF FOR RECEIVABLES FOR 01/31/01 PCM(OPERATING) 1,479.75 1,479.75 ============= $ 59,816.12
================================================================================ Page 1 of 1 OFFICE OF THE UNITED STATES TRUSTEE CENTRAL DISTRICT OF CALIFORNIA ================================================================================ IN RE: TRUSTEE INTERIM STATEMENT PERFORMANCE ASSET MGMT STATEMENT NUMBER: 026 FUND III, LTD FOR THE PERIOD FROM: 020101 JAMES J. JOSEPH, TO: 022801 CHAPTER 11 TRUSTEE ----------------------- CASE NO. SA 98-27101 RA =======================
Operating 30-Day C.D. Money Market Money Market Account Account Account Account CASH ACTIVITY ANALYSIS 14-088-393 426-556-0001 6704-559038 14-088-652 ---------- ------------ ------------ ------------ A. Total Receipts Per All Prior Interim Statements . . . . . . . . . . . . . . . . . 288,368.98 91,551.62 10,969.27 4,922,316.83 ---------- ------------ ------------ ------------ B. Less : Total Disbursements Per All Prior Interim Statements . . . . . . . . . . 288,268.98 91,551.62 10,969.27 2,222,225.77 ---------- ------------ ------------ ------------ C. Beginning Balance. . . . . . . . . . . . . . . 100.00 0.00 0.00 2,700,091.06 ========== ============ ============ ============ D. Receipts During Current Period Per Attached Schedule. . . . . . . . 0.00 0.00 0.00 83,397.81 Total Receipts . . . . . . . . . . . 0.00 0.00 0.00 83,397.81 ---------- ------------ ------------ ------------ E. Balance Available. . . . . . . . . . . . . . . 100.00 0.00 0.00 2,783,488.87 ---------- ------------ ------------ ------------ F. Less : Disbursements During Period Per Attached Schedule. . . . . . . . 0.00 0.00 0.00 59,816.12 Total Disbursements. . . . . . . . . 0.00 0.00 0.00 59,816.12 ========== ============ ============ ============ G. Ending Balance 100.00 0.00 0.00 2,723,672.75 ========== ============ ============ ============ H. Disbursements for Quarterly Fees. . . . . . . . . 0.00 0.00 0.00 59,816.12 ========== ============ ============ ============ 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: 14-088-393 (2) 30-Day C.D. (a) Imperial Bank, 9757 Wilshire Blvd., Beverly Hills, CA 90212 (b) Account Number #426-560-001 (3) Money Market Account (a) Wells Fargo, 1661 No. Raymond, Anaheim, CA 92801 (b) Account Number 6704-559038 (4) Money Market Account (a) Imperial Bank, 9757 Wilshire Blvd., Beverly Hills, CA 90212 (b) Account Number: 14-088-652 BOND: $17,500,000.00 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: 3/20/01 Signed: /s/ James J. Joseph ---------------------------- ---------------------------------------------- James J. Joseph, Trustee ================================================================================
CASE NAME : PERFORMANCE ASSET MGMT FUND III LTD CASE NUMBER: SA 98-27101 RA STATEMENT NUMBER: 026 RECEIPTS FOR THE PERIOD FROM: 020101 TO: 022801 OPERATING ACCOUNT # 14-088-393 AMOUNT ---------------------------------------------------------------------------------------- ----------- TOTAL 0.00 ===========
CASE NAME : PERFORMANCE ASSET MGMT FUND III, LTD CASE NUMBER : SA 98-27101 RA STATEMENT NUMBER: 026 DISBURSEMENTS FOR THE PERIOD FROM: 020101 TO: 022801 OPERATING ACCOUNT # 14-088-393 CHECK NAME OF PAYEE DESCRIPTION AMOUNT NUMBER DATE --------------------------------------------------------------------------------------------------- ----------- TOTAL 0.00 ===========
CASE NAME : PERFORMANCE ASSET MGMT FUND III, LTD CASE NUMBER : SA 98-27101 RA STATEMENT NUMBER: 026 RECEIPTS FOR THE PERIOD FROM: 020101 TO: 022801 MONEY MARKET ACCOUNT 14-088-652 AMOUNT -------------------------------------------------------------------------------------------------- 02/02-PCM(SUSPENSE) CHASE MANHATTAN BUYBACK SPLIT#2235146 7,747.44 02/07-PCM(SUSPENSE) CHASE MANHATTAN BUYBACK SPLIT#2259443 1,574.33 02/07-PCM(SUSPENSE) CHASE MANHATTAN BUYBACK SPLIT#2279458 921.68 02/12-PCM(PARTNERSHIP RESERVE) DECEMBER 2000 COLLECTION SHARE 63,772.65 02/12-PCM(SUSPENSE CHASE MANHATTAN BUYBACK SPLIT# 2293645 1,219.86 02/28-IMPERIAL BANK FEBRUARY 2001 INTEREST 8,161.85 ----------- TOTAL 83,397.81 ===========
CASE NAME : PERFORMANCE ASSET MGMT, FUND III, LTD CASE NUMBER : SA 98-27101 RA STATEMENT NUMBER: 026 DISBURSEMENTS FOR THE PERIOD FROM: 020101 TO: 022801 MONEY MARKET ACCOUNT # 14-088-652 CHECK NAME OF PAYEE DESCRIPTION AMOUNT NUMBER DATE ---------------------------------------------------------------------------------------------------------------------- PCM(PARTNERSHIP RESERVE) TSF OF FUNDS FOR PORTFOLIO PURCHASE# 220 53,033.07 TSF 02/12/01 PCM(OPERATING) TSF OF FUNDS FOR ACQUISTION FEES OF PORTFOLIO#220 5,303.30 TSF 02/12/01 PCM(OPERATING) TSF FOR RECEIVABLES FOR 01/31/01 1,479.75 TSF 02/21/01 ---------- TOTAL 59,816.12 ==========