EX-99.4 6 doc5.txt
EXHIBIT 99.4 ==================================================================================================== 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 : 04 Page 1 of 3 Los Angeles, CA 90067 ------------------------------------------- Chapter 11 Case No. SA 98-27101 RA For the period From : 04/01/99 to 04/30/99 ====================================================================================================
1. Profit and Loss Statement A. Related to Business Operations Gross Sales / Rents 129,656.39 ---------- Less : Sales Returns and Discounts 0.00 ---------- Net Sales 129,656.39 ---------- 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 129,656.39 ---------- Other Operating Revenues 0.00 ---------- Less : Operating Expenses: Officer Compensation 0.00 ---------- Salaries and Wages - 0.00 ---------- Total Salaries and Wages 3,092.00 --------- 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) 50.00 ---------- Total Operating Expenses 3,142.00 ---------- Net Gain / Loss from Business Operations 126,514.39 ---------- B. Not Related to Business Operations Income : Interest Income 1,566.01 --------- 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 1,566.01 ---------- Expenses Not Related to Business Operations: Legal and Professional Fees (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 128,080.40 ==========
================================================================================ OPERATING REPORT ================================================================================ ================================================================================ CHAPTER 11 TRUSTEE OPERATING REPORT NO : 04 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 : 04 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) To be accrued in February:
======================================================================================= 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 ================ ==================== ============== ========= ============ ========= ============== 12/31/98 $ 0.00 $ 250.00 01/27/99 $ 250.00 10001 $ 0.00 ---------------- -------------------- -------------- --------- ------------ --------- -------------- 03/31/99 $ 18,993.00 $ 500.00 04/21/99 $ 500.00 10006 $ 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 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: 5/18/99 /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 # 04 From : 04/01/99 To : 04/30/99
Schedule of Miscellaneous Operating Expenses -------------------------------------------- -------------------------------- ------------------ -------------- ------------- EXPENSE VENDOR AMOUNT TOTAL -------------------------------- ------------------ -------------- ------------- Business License City of Irvine $ 50.00 ============ TOTAL MISCELLANEOUS OPERATING EXPENSES $ 0.00
================================================================================ Page 1 of 1 OFFICE OF THE UNITED STATES TRUSTEE CENTRAL DISTRICT OF CALIFORNIA ================================================================================ IN RE: TRUSTEE INTERIM STATEMENT PERFORMANCE ASSET MGMT STATEMENT NUMBER: 004 FUND III, LTD FOR THE PERIOD FROM: 040199 JAMES J. JOSEPH, TO: 043099 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 4265-560-001 6704-559038 14-088-652 ---------- ------------ ------------ ------------ A. Total Receipts Per All Prior Interim Statements . . . . . . . . . . . . . . . . . 103,658.67 87,727.55 10,969.27 310,828.11 ---------- ------------ ------------ ------------ B. Less : Total Disbursements Per All Prior Interim Statements . . . . . . . . . . 103,558.75 0.00 10,969.27 18,743.03 ---------- ------------ ------------ ------------ C. Beginning Balance. . . . . . . . . . . . . . . 99.92 87,727.55 0.00 292,085.08 ========== ============ ============ ============ D. Receipts During Current Period Per Attached Schedule. . . . . . . . 500.08 321.66 0.00 130,900.74 Total Receipts . . . . . . . . . . . 500.08 321.66 0.00 130,900.74 ---------- ------------ ------------ ------------ E. Balance Available. . . . . . . . . . . . . . . 600.00 88,049.21 0.00 422,985.82 ---------- ------------ ------------ ------------ F. Less : Disbursements During Period Per Attached Schedule. . . . . . . . 550.00 0.00 0.00 500.08 Total Disbursements. . . . . . . . . 550.00 0.00 0.00 500.08 ========== ============ ============ ============ G. Ending Balance 50.00 88,049.21 0.00 422,485.74 ========== ============ ============ ============ ACCOUNT CLOSED 03/01/99
H. (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 #426-556-0001 (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: $6,000,000.00 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: 5/18/99 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: 004 RECEIPTS FOR THE PERIOD FROM: 040199 TO: 043099 OPERATING ACCOUNT # 14-088-393 AMOUNT -------------------------------------------------------------------- PAM FUND III MONEY MARKET TRANSFER FOR UST FEE 500.08 ----------- TOTAL 500.08 =========== CASE NAME : PERFORMANCE ASSET MGMT FUND III, LTD CASE NUMBER : SA 98-27101 RA STATEMENT NUMBER: 004 DISBURSEMENTS FOR THE PERIOD FROM: 040199 TO: 043099
OPERATING ACCOUNT # 14-088-393 CHECK NAME OF PAYEE DESCRIPTION AMOUNT NUMBER DATE -------------------------------------------------------------------------------------------------- U.S. TRUSTEE 1ST QUARTER FEE 500.00 10006 04/21/99 CITY OF IRVINE BUSINESS LICENSE 50.00 10007 04/23/99 ----------- TOTAL 550.00 ===========
CASE NAME : PERFORMANCE ASSET MGMT FUND III, LTD CASE NUMBER : SA 98-27101 RA STATEMENT NUMBER: 004 RECEIPTS FOR THE PERIOD FROM: 040199 TO: 043099 30-Day C.D. Account # 4265-560-001 AMOUNT ----------------------------------------------------------------- 04/27 - IMPERIAL BANK INTEREST AT MATURITY 321.66
----------- TOTAL 321.66 =========== CASE NAME : PERFORMANCE ASSET MGMT FUND III, LTD CASE NUMBER : SA 98-27101 RA STATEMENT NUMBER: 004 DISBURSEMENTS FOR THE PERIOD FROM: 040199 TO: 043099 30-Day C.D. Account #426-556-0001 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: 004 RECEIPTS FOR THE PERIOD FROM: 040199 TO: 043099 MONEY MARKET ACCOUNT # 6704-559038 AMOUNT --------------------------------------------------------------- ----------- TOTAL 0.00 =========== CASE NAME : PERFORMANCE ASSET MGMT FUND III, LTD CASE NUMBER : SA 98-27101 RA STATEMENT NUMBER: 004 DISBURSEMENTS FOR THE PERIOD FROM: 040199 TO: 043099
MONEY MARKET ACCOUNT 6704-559038 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: 004 RECEIPTS FOR THE PERIOD FROM: 040199 TO: 043099
MONEY MARKET ACCOUNT 14-088-652 AMOUNT ------------------------------------------------------------------------------------------ 04/05 - PCM PARTNERSHIP RESERVE ACCOUNT DEC, JAN, FEB COLLECTION SHARE 128,897.15 04/14 - WELLS FARGO BANK CLOSING DISTRIBUTION 1.28 04/27 - PCM EAGLE PORTFOLIO PURCHASE ALLOCATION 757.96 04/30 - IMPERIAL BANK APRIL INTEREST 1,244.35 ----------- TOTAL 130,900.74 ===========
CASE NAME : PERFORMANCE ASSET MGMT FUND III, LTD CASE NUMBER : SA 98-27101 RA STATEMENT NUMBER: 004 DISBURSEMENTS FOR THE PERIOD FROM: 040199 TO: 043099
MONEY MARKET ACCOUNT # 14-088-652 CHECK NAME OF PAYEE DESCRIPTION AMOUNT NUMBER DATE ------------------------------------------------------------------------------------------ PAM FUND III OPERATING ACCOUNT TRANSFER FOR UST FUNDS 500.08 TSF 04/21/99 --------- TOTAL 500.08 =========