EX-99.3 5 g74046ex99-3.txt MONTHLY OPERATING REPORTS OF WORLD ACCESS EXHIBIT 99.3 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS AMENDED SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS For the Month Ending May 31, 2001 BEGINNING BALANCE IN ALL ACCOUNTS $ 303,514.18 RECEIPTS: 1. Receipts from Operations $ 176,896.47 Receipts from Operations (Received by Parent or Affiliates) $ 35,329.85 2. Other Receipts $ -- Other Receipts (Received by Parent or Affiliates) $ 255.19 ------------- TOTAL RECEIPTS $ 212,481.51 Less: Receipts received by Parent or Affiliates $ (35,585.04) ------------- ADJUSTED TOTAL RECEIPTS $ 176,896.47 DISBURSEMENTS 3. Net Payroll a. Officers $ -- b. Others (Paid by Parent or Affiliate) $ 38,396.45 4. Taxes a. Federal Income Taxes (Paid by Parent or Affiliate) $ 8,918.28 b. FICA Withholdings (Paid by Parent or Affiliate) $ 3,955.02 c. Employee's withholdings $ -- d. Employer's FICA (Paid by Parent or Affiliate) $ 3,832.67 e. Federal Unemployment Taxes (Paid by Parent or Affiliate) $ 33.23 f. State Income Tax (Paid by Parent or Affiliate) $ 477.83 g. State Employee withholdings $ -- h. All other state taxes (Paid by Parent or Affiliate) $ 9.85 5. Necessary Expenses a. Rent or mortgage payment(s) (Paid by Affiliate) $ 12,784.41 b. Utilities $ 576.24 c. Insurance (Paid by Parent or Affiliate) $ 1,980.48 d. Merchandise bought for manufacture or sell $ -- e. Other necessary expenses Employee Expenses $ 619.42 Temporary Help $ 2,970.00 WorldCom (Paid by Parent or Affiliate) $7,250,000.00 ------------- TOTAL DISBURSEMENTS $7,324,553.88 Less: Disbursements paid by Parent or Affiliates $(7,320,388.22) ------------- ADJUSTED TOTAL DISBURSEMENTS $ 4,165.66 NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $ 172,730.81 NET INTERCOMPANY SWEEP TRANSFERS - WAXS $ 11,310.00 ------------- ENDING BALANCE IN Bank of America 3751607047 $ 5,661.25 ENDING BALANCE IN Bank of America 3751567556 $ 155,711.82 ENDING BALANCE IN Bank of America 2591500124 $ 279,781.10 ENDING BALANCE IN 00-2662-5 Bank West $ 1,067.05 ENDING BALANCE IN CNSC-Merrill Lynch $ 383.40 ENDING BALANCE IN CNSC-SW Bank of TX $ 1,365.58 ENDING BALANCE IN CNSC Tax Acct-Bank of West $ 31,050.76 ENDING BALANCE IN Int Transfer-Cash Transfer $ 7,582.95 ENDING BALANCE IN Bank of the West $ 39.06 ENDING BALANCE IN Mexico Bills $ 35.87 ENDING BALANCE IN Merrill Lynch $ 4,876.15 ------------- ENDING BALANCE IN ALL ACCOUNTS $ 487,554.99 =============
OPERATING REPORT Page 1 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS RECEIPTS LISTING For the Month Ending May 31, 2001 Bank: Bank of America Location: Dallas, TX Account Name: Customer Connection Analyzed Checking Account Number: 3751607047
DATE RECEIVED DESCRIPTION AMOUNT ------------- ----------- ------ Receipts from Operations: 05/22/01 Robert L. Shaw $ 37.54 05/22/01 Frank J. Moore $ 60.87 05/24/01 Combined Networks, Inc. $ 143.08 05/24/01 Carnlee Collins, Jr. $ 1.88 05/24/01 James L. Brey $ 2.45 05/29/01 Gary Balazs $ 30.08 05/29/01 L. E. Jackson $ 43.57 05/29/01 Ersmark Capital Corp $ 91.78 -------- TOTAL $ 411.25 ========
OPERATING REPORT Page 2 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS RECEIPTS LISTING For the Month Ending May 31, 2001 Bank: Bank of America Location: Dallas, Texas Account Name: Customer Connection Analyzed Checking Account Number: 3751567556
DATE RECEIVED DESCRIPTION AMOUNT ------------- ----------- ------ Receipts from Operations: 04/30/01 Webway $ 159.40 05/09/01 Vartec $ 175,983.88 05/09/01 Webway $ 133.16 05/14/01 Webway $ 208.78 ------------ Total $ 176,485.22 ============
OPERATING REPORT Page 3 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS RECEIPTS LISTING For the Month Ending May 31, 2001 DEPOSITED IN AFFILIATE'S BANK ACCOUNT (TO BE TRANSFERRED TO DEBTOR'S ACCOUNT)
WHERE DATE RECEIVED DEPOSITED DESCRIPTION AMOUNT ------------- --------- ----------- ------ Receipts from Operations: 04/26/01 FCI Norbel Telecom, Inc. (Primetec) $ 5,734.76 05/02/01 FCI Huntington Market (Primetec) $ 29,595.09 ----------- $ 35,329.85 Other Receipts: 05/15/01 FCI State of Nevada - Cash Bond Refund (Resurgens) $ 255.19 ----------- $ 255.19 ----------- Total receipts deposited to affiliate's bank account $ 35,585.04 =========== Parent and Affiliate Abbreviations: WAXS World Access, Inc. WATP WA Telecom Products Co., Inc. FCI Facilicom International, LLC WxC WorldxChange Communications, Inc.
OPERATING REPORT Page 4 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS DISBURSEMENT LISTING For the Month Ending May 31, 2001 Bank: Bank of America Location: Dallas, TX Account Name: Customer Connection Analyzed Checking Account Number: 3751607047
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT -------------- ------------ ----------- ---------- 05/07/01 0000000024 Scott Banks $ 2,250.00 ---------- Total $ 2,250.00 ==========
OPERATING REPORT Page 5 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS DISBURSEMENT LISTING For the Month Ending May 31, 2001 Bank: Bank of America Location: Dallas, TX Account Name: Customer Connection Analyzed Checking Account Number: 3751567556
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT -------------- ------------ ----------- ---------- 05/24/01 0000000342 J.N. RIC KNIGHT $ 619.42 05/24/01 0000000343 SOUTHWESTERN BELL $ 576.24 05/24/01 0000000344 LINDA GILMORE $ 720.00 ---------- Total $ 1,915.66 ==========
OPERATING REPORT Page 6 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS For the Month Ending May 31, 2001 STATEMENT OF INVENTORY Beginning Inventory $ -- Add: purchases $ -- Less: goods sold $ -- ------------ -- Ending inventory $ -- ============ PAYROLL INFORMATION STATEMENT Gross payroll for this period $ 51,747.58 Payroll taxes due but unpaid $ -- STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS
DATE REGULAR AMOUNT OF NUMBER OF AMOUNT OF NAME OF CREDITOR/LESSOR PAYMENT IS DUE REGULAR PAYMENT PAYMENTS DELINQUENT PAYMENTS DELINQUENT ----------------------- -------------- ---------------- -------------------- ------------------- Waterton Printers Square* 5/1/2001 $ 12,784.41 0 $ -- One Wilshire Arcade 5/1/2001 $ 24,965.68 1 $ 24,965.68
* Payment made by affiliate, Facilicom International, LLC. On behalf of Debtor. OPERATING REPORT Page 7 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS For the Month Ending May 31, 2001 STATEMENT OF AGED RECEIVABLES
ACCOUNTS RECEIVABLE 3RD PARTY INTERCOMPANY TOTAL --------------- --------------- --------------- Beginning of month balance $ 95,038,439.05 $ -- $ 95,038,439.05 Add: sales on account $ 11,364,603.58 $ -- $ 11,364,603.58 Add: customer credits $ -- $ -- $ -- Add: intercompany activity $ (35,329.85) $ 35,585.04 $ 255.19 Less: collections $ (176,896.47) $ -- $ (176,896.47) Less: offsets $ -- $ -- $ -- Less: application of customer deposits $ -- $ -- $ -- --------------- --------------- --------------- End of month balance $106,190,816.31 $ 35,585.04 $106,226,401.35 =============== =============== =============== 0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total --------- ---------- ---------- ------------ ------------------ $ 4,958,530.17 $ 11,017,928.96 $ 19,391,494.13 $ 70,822,863.05 $106,190,816.31
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)
3RD PARTY INTERCOMPANY TOTAL --------------- -------------- -------------- Beginning of month balance $ -- $ -- $ -- Add: sales on account $ 7,717,299.89 $ -- $ 7,717,299.89 Add: intercompany activity Expenses paid directly by Parent or Affiliate $ (7,320,388.22) $ 7,320,388.22 $ -- Net cash advanced by Parent or Affiliate $ -- $ 11,310.00 $ 11,310.00 Credit extended by Parent or Affiliate $ -- $ 99,402.02 $ 99,402.02 Amounts collected on behalf of Affiliate $ -- $ -- $ -- Less: payments $ (4,165.66) $ -- $ (4,165.66) --------------- -------------- -------------- End of month balance $ 392,746.01 $ 7,431,100.24 $ 7,823,846.25 =============== ============== ============== 0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total --------- ---------- ---------- ------------ ------------------ $ 392,746.01 $ -- $ -- $ -- $ 392,746.01
** The post-petition accounts payable balances accrued for above are subject to customary audit and review, which could result in changes to the balances recorded. If upon such audit and review amounts invoiced by vendors are disputed, such disputed amounts are not reflected in the accounts payable balances reflected above. As of May 31, the Debtor has been invoiced cumulative post-petition disputed amounts totalling $1,600,608. OPERATING REPORT Page 8 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS For The Month Ending: May 31, 2001 TAX QUESTIONNAIRE Debtors in possession and trustees are required to pay all taxes incurred after the filing of their Chapter 11 petition on an as due basis. Please indicate whether the following post petition taxes or withholdings have been paid currently. 1. Federal income taxes Yes (X) No ( ) 2. FICA withholdings Yes (X) No ( ) 3. Employee's withholdings Yes (X) No ( ) 4. Employer's FICA Yes (X) No ( ) 5. Federal unemployment taxes Yes (X) No ( ) 6. State income tax Yes (X) No ( ) 7. State employee withholdings Yes (X) No ( ) 8. All other state taxes See Note Below If any of the above have not been paid, state below the tax not paid, the amounts past due and the date of the last payment. Note to Item 8: The Debtor may have personal property subject to tax in various jurisdictions throughout the United States. No expense has been accrued or paid for any such potential post-petition claims. OPERATING REPORT Page 9 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION DECLARATION UNDER PENALTY OF PERJURY I, Henry C. Lyon, acting as the duly authorized agent for the Debtor in Possession declare under penalty of perjury under the laws of the United States that I have read and I certify that the figures, statements, disbursement itemizations, and account balances as listed in this Monthly Report of the Debtor are true and correct as of the date of this report to the best of my knowledge, information and belief. /s/ Henry C. Lyon ------------------------------------ For the Debtor In Possession Henry C. Lyon Designated Officer OPERATING REPORT Page 10 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS AMENDED SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS For the Month Ending June 30, 2001 BEGINNING BALANCE IN ALL ACCOUNTS $487,554.99 RECEIPTS: 1. Receipts from Operations $136,069.97 Receipts from Operations (Received by Parent or Affiliates) $ 2,909.64 2. Other Receipts $ 185.26 Other Receipts (Received by Parent or Affiliates) $ 50,604.81 ----------- TOTAL RECEIPTS $189,769.68 Less: Receipts received by Parent or Affiliates $(53,514.45) ----------- ADJUSTED TOTAL RECEIPTS $136,255.23 DISBURSEMENTS 3. Net Payroll a. Officers $ -- b. Others (Paid by Parent or Affiliate) $ -- 4. Taxes a. Federal Income Taxes (Paid by Parent or Affiliate) $ -- b. FICA Withholdings (Paid by Parent or Affiliate) $ -- c. Employee's withholdings $ -- d. Employer's FICA (Paid by Parent or Affiliate) $ -- e. Federal Unemployment Taxes (Paid by Parent or Affiliate) $ -- f. State Income Tax $ -- g. State Employee withholdings $ -- h. All other state taxes (Paid by Parent or Affiliate) $ -- 5. Necessary Expenses a. Rent or mortgage payment(s) (Paid by Affiliate) $ 12,784.41 b. Utilities $ -- c. Insurance (Paid by Parent or Affiliate) $ 56.93 d. Merchandise bought for manufacture or sell $ -- e. Other necessary expenses Employee Expenses $ -- Temporary Help $ -- WorldCom (Paid by Parent or Affiliate) $ -- ----------- TOTAL DISBURSEMENTS $ 12,841.34 Less Disbursements paid by Parent or Affiliates $ 12,841.34 ----------- ADJUSTED TOTAL DISBURSEMENTS $ -- NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $136,255.23 NET INTERCOMPANY SWEEP TRANSFERS - WAXS $ -- ----------- ENDING BALANCE IN Bank of America 3751607047 $ 6,487.49 ENDING BALANCE IN Bank of America 3751567556 $291,140.81 ENDING BALANCE IN Bank of America 2591500124 $279,781.10 ENDING BALANCE IN 00-2662-5 Bank West $ 1,067.05 ENDING BALANCE IN CNSC-Merrill Lynch $ 383.40 ENDING BALANCE IN CNSC-SW Bank of TX $ 1,365.58 ENDING BALANCE IN CNSC Tax Acct-Bank of West $ 31,050.76 ENDING BALANCE IN Int Transfer-Cash Transfer $ 7,582.95 ENDING BALANCE IN Bank of the West $ 39.06 ENDING BALANCE IN Mexico Bills $ 35.87 ENDING BALANCE IN Merrill Lynch $ 4,876.15 ----------- ENDING BALANCE IN ALL ACCOUNTS $623,810.22 ===========
OPERATING REPORT Page 1 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS RECEIPTS LISTING For the Month Ending June 30, 2001 Bank: Bank of America Location: Dallas, TX Account Name: Customer Connection Analyzed Checking Account Number: 3751607047
DATE RECEIVED DESCRIPTION AMOUNT ------------- ----------- ------ Receipts from Operations: 06/04/01 Thompson Print Solutions $334.26 06/04/01 Little Elm Independent School District $343.32 06/04/01 Stephen R. Mathers $ 57.69 06/08/01 Sandra Replogle $ 5.64 06/08/01 Gunter First Baptist Church $ 8.85 06/08/01 James W. Fry $ 35.45 06/13/01 Weilbacher & Associates P.C. $ 2.08 06/13/01 Garner Ministries $ 13.35 06/22/01 SNAP Auto Parts, Inc., #4 $ 25.60 ------- $826.24 =======
OPERATING REPORT Page 2 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS RECEIPTS LISTING For the Month Ending June 30, 2001 Bank: Bank of America Location: Dallas, Texas Account Name: Customer Connection Analyzed Checking Account Number: 3751567556
DATE RECEIVED DESCRIPTION AMOUNT ------------- ----------- ------ Receipts from Operations: 06/05/01 Webway Communications LLC $ 73.16 06/08/01 Norbel Telecom Inc. $ 686.28 06/13/01 VarTec $134,484.29 ----------- Total $135,243.73 Other Receipts: 06/28/01 SBC Communications, Inc. Refund $ 185.26 ----------- Total $ 185.26 ----------- $135,428.99 ===========
OPERATING REPORT Page 3 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS RECEIPTS LISTING For the Month Ending June 30, 2001 DEPOSITED IN AFFILIATE'S BANK ACCOUNT (TO BE TRANSFERRED TO DEBTOR'S ACCOUNT)
WHERE DATE RECEIVED DEPOSITED DESCRIPTION AMOUNT ------------- --------- ----------- ------ Receipts from Operations: 06/05/01 FCI Creative Paper Products (Comm/Net customer) $ 114.38 06/05/01 FCI JCJ Marketing by Design (Comm/Net customer) $ 338.50 06/07/01 FCI Huntington (Primetec customer) $ 2,456.76 ---------- $ 2,909.64 Other Receipts: 06/15/01 FCI Comservices Corp (Sale of Comm/Net Equipment) $ 2,500.00 06/15/01 FCI Telecom Recyclers, Inc. (Sale of Primetec Equipment) $23,000.00 06/15/01 FCI Telecom Recyclers, Inc. (Sale of Resurgens Equipment) $25,000.00 06/01/01 WAXS State of Connecticut (Employer P/R Tax Refund-Comm/Net) $ 64.01 06/01/01 WAXS U.S. Treasury (Employer P/R Tax Refund-Comm/Net) $ 1.60 06/01/01 WAXS U.S. Treasury (Fed Excise Tax Refund-Comm/Net) $ 24.32 06/01/01 WAXS U.S. Treasury (Fed Excise Tax Refund-Comm/Net) $ 14.88 ---------- $50,604.81 ---------- Total receipts deposited to affiliate's bank account $53,514.45 ==========
Parent and Affiliate Abbreviations: WAXS World Access, Inc. WATP WA Telecom Products Co., Inc. FCI Facilicom International, LLC WxC WorldxChange Communications, Inc. OPERATING REPORT Page 4 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS For the Month Ending June 30, 2001 STATEMENT OF INVENTORY Beginning Inventory $ -- Add: purchases $ -- Less: goods sold $ -- ------- Ending inventory $ -- ======= PAYROLL INFORMATION STATEMENT Gross payroll for this period $ -- Payroll taxes due but unpaid $ --
STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS
DATE REGULAR AMOUNT OF NUMBER OF AMOUNT OF NAME OF CREDITOR/LESSOR PAYMENT IS DUE REGULAR PAYMENT PAYMENTS DELINQUENT PAYMENTS DELINQUENT ----------------------- -------------- ---------------- -------------------- ------------------- Waterton Printers Square* 6/1/2001 $12,784.41 0 $ -- One Wilshire Arcade 6/1/2001 $24,965.68 2 $49,931.36
* Payment made by affiliate, Facilicom International, LLC. On behalf of Debtor. OPERATING REPORT Page 5 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS For the Month Ending June 30, 2001 STATEMENT OF AGED RECEIVABLES
ACCOUNTS RECEIVABLE 3RD PARTY INTERCOMPANY TOTAL --------- ------------ ----- Beginning of month balance $106,190,816.31 $35,585.04 $106,226,401.35 Add: sales on account $ 10,085.65 $ -- $ 10,085.65 Add: customer credits $ -- $ -- $ -- Add: intercompany activity $ (2,909.64) $53,514.45 $ 50,604.81 Less: collections $ (136,069.97) $ -- $ (136,069.97) Less: offsets $ -- $ -- $ -- Less: application of customer deposits $ -- $ -- $ -- --------------- ---------- --------------- End of month balance $106,061,922.35 $89,099.49 $106,151,021.84 =============== ========== ===============
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total --------- ---------- ---------- ------------ ------------------ $564,802.40 $5,162,980.31 $18,763,351.96 $81,570,787.68 $106,061,922.35
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)**
3RD PARTY INTERCOMPANY TOTAL --------- ------------ ----- Beginning of month balance $392,746.01 $7,431,100.24 $7,823,846.25 Add: sales on account** $ 53,190.60 $ -- $ 53,190.60 Add: intercompany activity Expenses paid directly by Parent or Affiliate $(12,841.34) $ 12,841.34 $ -- Net cash advanced by Parent or Affiliate $ -- $ -- $ -- Credit extended by Parent or Affiliate $ -- $ 545.13 $ 545.13 Amounts collected on behalf of Affiliate $ -- $ -- $ -- Less: payments $ -- $ -- $ -- ----------- ------------- ------------- End of month balance $433,095.27 $7,444,486.71 $7,877,581.98 =========== ============= =============
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total --------- ---------- ---------- ------------ ------------------ $40,349.26 $392,746.01 $ -- $ -- $433,095.27
** The post-petition accounts payable balances accrued for above are subject to customary audit and review, which could result in changes to the balances recorded. If upon such audit and review amounts invoiced by vendors are disputed, such disputed amounts are not reflected in the accounts payable balances reflected above. As of June 30, the Debtor has been invoiced cumulative post-petition disputed amounts totalling $3,759,935. OPERATING REPORT Page 6 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS For The Month Ending: June 30, 2001 TAX QUESTIONNAIRE Debtors in possession and trustees are required to pay all taxes incurred after the filing of their Chapter 11 petition on an as due basis. Please indicate whether the following post petition taxes or withholdings have been paid currently. 1. Federal income taxes Yes [X] No [ ] 2. FICA withholdings Yes [X] No [ ] 3. Employee's withholdings Yes [X] No [ ] 4. Employer's FICA Yes [X] No [ ] 5. Federal unemployment taxes Yes [X] No [ ] 6. State income tax Yes [X] No [ ] 7. State employee withholdings Yes [X] No [ ] 8. All other state taxes See Note Below If any of the above have not been paid, state below the tax not paid, the amounts past due and the date of the last payment. Note to Item 8: The Debtor may have personal property subject to tax in various jurisdictions throughout the United States. No expense has been accrued or paid for any such potential post-petition claims. OPERATING REPORT Page 7 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION DECLARATION UNDER PENALTY OF PERJURY I, Henry C. Lyon, acting as the duly authorized agent for the Debtor in Possession declare under penalty of perjury under the laws of the United States that I have read and I certify that the figures, statements, disbursement itemizations, and account balances as listed in this Monthly Report of the Debtor are true and correct as of the date of this report to the best of my knowledge, information and belief. /s/ Henry C. Lyon --------------------------------------- For the Debtor In Possession Henry C. Lyon Designated Officer OPERATING REPORT Page 8 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS AMENDED SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS For the Month Ending July 31, 2001 BEGINNING BALANCE IN ALL ACCOUNTS $ 623,810.22 RECEIPTS: 1. Receipts from Operations $ -- Receipts from Operations (Received by Parent or Affiliates) $ -- 2. Other Receipts $ -- Other Receipts (Received by Parent or Affiliates) $ 30,000.00 ------------- TOTAL RECEIPTS $ 30,000.00 Less: Receipts received by Parent or Affiliates $ (30,000.00) ------------- ADJUSTED TOTAL RECEIPTS $ -- DISBURSEMENTS 3. Net Payroll a. Officers $ -- b. Others $ -- 4. Taxes a. Federal Income Taxes $ -- b. FICA Withholdings $ -- c. Employee's withholdings $ -- d. Employer's FICA $ -- e. Federal Unemployment Taxes $ -- f. State Income Tax $ -- g. State Employee withholdings $ -- h. All other state taxes $ -- 5. Necessary Expenses a. Rent or mortgage payment(s) (Paid by Affiliate) $ 13,512.72 b. Utilities $ -- c. Insurance (Paid by Parent or Affiliate) $ (128.56) d. Merchandise bought for manufacture or sell $ -- e. Other necessary expenses Employee Expenses $ -- Legal Fees $ 5,280.19 ------------- TOTAL DISBURSEMENTS $ 18,664.35 Less: Disbursements paid by Parent or Affiliates $ (13,384.16) ------------- ADJUSTED TOTAL DISBURSEMENTS $ 5,280.19 NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $ (5,280.19) NET INTERCOMPANY SWEEP TRANSFERS - WAXS $ -- ------------- ENDING BALANCE IN Bank of America 3751607047 $ 1,207.30 ENDING BALANCE IN Bank of America 3751567556 $ 291,140.81 ENDING BALANCE IN Bank of America 2591500124 $ 279,781.10 ENDING BALANCE IN 00-2662-5 Bank West $ 1,067.05 ENDING BALANCE IN CNSC-Merrill Lynch $ 383.40 ENDING BALANCE IN CNSC-SW Bank of TX $ 1,365.58 ENDING BALANCE IN CNSC Tax Acct-Bank of West $ 31,050.76 ENDING BALANCE IN Int Transfer-Cash Transfer $ 7,582.95 ENDING BALANCE IN Bank of the West $ 39.06 ENDING BALANCE IN Mexico Bills $ 35.87 ENDING BALANCE IN Merrill Lynch $ 4,876.15 ------------- ENDING BALANCE IN ALL ACCOUNTS $ 618,530.03 =============
OPERATING REPORT Page 1 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS RECEIPTS LISTING For the Month Ending July 31, 2001 DEPOSITED IN AFFILIATE'S BANK ACCOUNT (TO BE TRANSFERRED TO DEBTOR'S ACCOUNT)
WHERE DATE RECEIVED DEPOSITED DESCRIPTION AMOUNT ---------------- --------- ---------------------------- ---------- Other Receipts: 07/01/01 WAXS Sale of NetNet-Germany (LDI) $30,000.00 ==========
Parent and Affiliate Abbreviations: WAXS World Access, Inc. WATP WA Telecom Products Co., Inc. FCI Facilicom International, LLC WxC WorldxChange Communications, Inc. OPERATING REPORT Page 2 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS DISBURSEMENT LISTING For the Month Ending July 31, 2001 Bank: Bank of America Location: Dallas, TX Account Name: Customer Connection Analyzed Checking Account Number: 3751607047
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT -------------- ------------ ------------------------- ---------- 07/06/01 25 Winstead Secrest & Minick $ 4,381.22 07/18/01 26 Winstead Secrest & Minick $ 898.97 ---------- $ 5,280.19 ==========
OPERATING REPORT Page 3 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS For the Month Ending July 31, 2001
STATEMENT OF INVENTORY ---------------------- Beginning Inventory $ -- Add: purchases $ -- Less: goods sold $ -- ------------- Ending inventory $ -- ============= PAYROLL INFORMATION STATEMENT Gross payroll for this period $ -- Payroll taxes due but unpaid $ --
STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS
DATE REGULAR AMOUNT OF NUMBER OF AMOUNT OF NAME OF CREDITOR/LESSOR PAYMENT IS DUE REGULAR PAYMENT PAYMENTS DELINQUENT PAYMENTS DELINQUENT ------------------------ -------------- --------------- ------------------- ------------------- Waterton Printers Square* 7/1/2001 $12,784.41 0 $ -- One Wilshire Arcade 7/1/2001 $24,965.68 3 $74,897.04
* Payment made by affiliate, Facilicom International, LLC. On behalf of Debtor. OPERATING REPORT Page 4 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS For the Month Ending July 31, 2001 STATEMENT OF AGED RECEIVABLES
ACCOUNTS RECEIVABLE 3RD PARTY INTERCOMPANY TOTAL --------------- ------------- --------------- Beginning of month balance $106,061,922.35 $ 89,099.49 $106,151,021.84 Add: sales on account $ -- $ -- $ -- Less: customer credits $ -- $ -- $ -- Add: intercompany activity $ -- $ 30,000.00 $ 30,000.00 Less: collections $ -- $ -- $ -- Less: offsets $ -- $ -- $ -- Less: application of customer deposits $ (80,163.08) $ -- $ (80,163.08) --------------- ------------- --------------- End of month balance $105,981,759.27 $ 119,099.49 $106,100,858.76 =============== =============== ===============
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total ------------- --------------- --------------- --------------- ------------------ $ -- $ 564,802.40 $ 6,675,857.29 $ 98,741,099.58 $105,981,759.27
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)
3RD PARTY INTERCOMPANY TOTAL --------------- --------------- --------------- Beginning of month balance $ 433,095.27 $ 7,444,486.71 $ 7,877,581.98 Add: sales on account** $ 144,902.29 $ -- $ 144,902.29 Add: intercompany activity $ -- $ -- Expenses paid directly by Parent or Affiliate $ (13,384.16) $ 13,384.16 $ -- Net cash advanced by Parent or Affiliate $ -- $ -- $ -- Credit extended by Parent or Affiliate $ -- $ -- $ -- Amounts collected on behalf of Affiliate $ -- $ -- $ -- Less: payments $ (5,280.19) $ -- $ (5,280.19) --------------- ------------- --------------- End of month balance $ 559,333.21 $ 7,457,870.87 $ 8,017,204.08 =============== =============== ===============
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total --------------- --------------- --------------- --------------- ------------------ $ 131,518.13 $ 40,349.26 $ 387,465.82 $ -- $ 559,333.21
** The post-petition accounts payable balances accrued for above are subject to customary audit and review, which could result in changes to the balances recorded. If upon such audit and review amounts invoiced by vendors are disputed, such disputed amounts are not reflected in the accounts payable balances reflected above. As of July 31, the Debtor has been invoiced cumulative post-petition disputed amounts totalling $4,556,307. OPERATING REPORT Page 5 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS For The Month Ending: July 31, 2001 TAX QUESTIONNAIRE Debtors in possession and trustees are required to pay all taxes incurred after the filing of their Chapter 11 petition on an as due basis. Please indicate whether the following post petition taxes or withholdings have been paid currently. 1. Federal income taxes Yes (X) No ( ) 2. FICA withholdings Yes (X) No ( ) 3. Employee's withholdings Yes (X) No ( ) 4. Employer's FICA Yes (X) No ( ) 5. Federal unemployment taxes Yes (X) No ( ) 6. State income tax Yes (X) No ( ) 7. State employee withholdings Yes (X) No ( ) 8. All other state taxes See Note Below
If any of the above have not been paid, state below the tax not paid, the amounts past due and the date of the last payment. Note to Item 8: The Debtor may have personal property subject to tax in various jurisdictions throughout the United States. No expense has been accrued or paid for any such potential post-petition claims. OPERATING REPORT Page 6 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION DECLARATION UNDER PENALTY OF PERJURY I, Henry C. Lyon, acting as the duly authorized agent for the Debtor in Possession declare under penalty of perjury under the laws of the United States that I have read and I certify that the figures, statements, disbursement itemizations, and account balances as listed in this Monthly Report of the Debtor are true and correct as of the date of this report to the best of my knowledge, information and belief. /s/ Henry C. Lyon ----------------------------------------- For the Debtor In Possession Henry C. Lyon Designated Officer OPERATING REPORT Page 7 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS For the Month Ending August 31, 2001 BEGINNING BALANCE IN ALL ACCOUNTS $ 618,530.03 RECEIPTS: 1. Receipts from Operations $ 113,917.74 Receipts from Operations (Received by Parent or Affiliates) $5,063,791.67 2. Other Receipts $ -- Other Receipts (Received by Parent or Affiliates) $ -- ------------- TOTAL RECEIPTS $5,177,709.41 Less: Receipts received by Parent or Affiliates $(5,063,791.67) ------------- ADJUSTED TOTAL RECEIPTS $ 113,917.74 DISBURSEMENTS 3. Net Payroll a. Officers $ -- b. Others $ -- 4. Taxes a. Federal Income Taxes $ -- b. FICA Withholdings $ -- c. Employee's withholdings $ -- d. Employer's FICA $ -- e. Federal Unemployment Taxes $ -- f. State Income Tax $ -- g. State Employee withholdings $ -- h. All other state taxes $ -- 5. Necessary Expenses a. Rent or mortgage payment(s) $ 90,236.07 b. Utilities $ -- c. Insurance (Paid by Parent or Affiliate) $ 61.83 d. Merchandise bought for manufacture or sell $ -- e. Other necessary expenses Employee Expenses $ -- Office Expenses $ 1,216.96 Legal Fees $ 250.00 ------------- TOTAL DISBURSEMENTS $ 91,764.86 Less: Disbursements paid by Parent or Affiliates $ (90,297.90) ------------- ADJUSTED TOTAL DISBURSEMENTS $ 1,466.96 NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $ 112,450.78 NET INTERCOMPANY SWEEP TRANSFERS - WAXS $ -- ------------- ENDING BALANCE IN Bank of America 3751607047 $ 1,207.30 ENDING BALANCE IN Bank of America 3751567556 $ 403,591.59 ENDING BALANCE IN Bank of America 2591500124 $ 279,781.10 ENDING BALANCE IN 00-2662-5 Bank West $ 1,067.05 ENDING BALANCE IN CNSC-Merrill Lynch $ 383.40 ENDING BALANCE IN CNSC-SW Bank of TX $ 1,365.58 ENDING BALANCE IN CNSC Tax Acct-Bank of West $ 31,050.76 ENDING BALANCE IN Int Transfer-Cash Transfer $ 7,582.95 ENDING BALANCE IN Bank of the West $ 39.06 ENDING BALANCE IN Mexico Bills $ 35.87 ENDING BALANCE IN Merrill Lynch $ 4,876.15 ------------- ENDING BALANCE IN ALL ACCOUNTS $ 730,980.81 =============
OPERATING REPORT Page 1 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS RECEIPTS LISTING For the Month Ending August 31, 2001 Bank: Bank of America Location: Dallas, Texas Account Name: Customer Connection Analyzed Checking Account Number: 3751567556
DATE RECEIVED DESCRIPTION AMOUNT ------------- ----------- ----------- 08/08/01 Vartec $113,917.74 ----------- Total $113,917.74 ===========
OPERATING REPORT Page 2 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS RECEIPTS LISTING For the Month Ending August 31, 2001 DEPOSITED IN AFFILIATE'S BANK ACCOUNT (TO BE TRANSFERRED TO DEBTOR'S ACCOUNT)
WHERE DATE RECEIVED DEPOSITED DESCRIPTION AMOUNT ------------- --------- ------------------------------ ------------- 08/31/01 FCI McLeod USA (Primetec customer) $ 91,207.18 08/31/01 FCI McLeod USA (Comm/Net customer) $4,972,584.49 ------------- $5,063,791.67 =============
Parent and Affiliate Abbreviations: WAXS World Access, Inc. WATP WA Telecom Products Co., Inc. FCI Facilicom International, LLC WxC WorldxChange Communications, Inc. OPERATING REPORT Page 3 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS DISBURSEMENT LISTING For the Month Ending August 31, 2001 Bank: Bank of America Location: Dallas, TX Account Name: Customer Connection Analyzed Checking Account Number: 3751567556
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT -------------- ------------ ----------------- --------- 08/09/01 0000000345 VANGUARD ARCHIVES $1,216.96 08/22/01 0000000346 US TRUSTEE PROG $ 250.00 --------- Total $1,466.96 =========
OPERATING REPORT Page 4 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS For the Month Ending August 31, 2001 STATEMENT OF INVENTORY Beginning Inventory $ -- Add: purchases $ -- Less: goods sold $ -- ----- Ending inventory $ -- ===== PAYROLL INFORMATION STATEMENT Gross payroll for this period $ -- Payroll taxes due but unpaid $ --
STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS
DATE REGULAR AMOUNT OF NUMBER OF AMOUNT OF NAME OF CREDITOR/LESSOR PAYMENT IS DUE REGULAR PAYMENT PAYMENTS DELINQUENT PAYMENTS DELINQUENT ------------------------- -------------- --------------- ------------------- -------------------- Waterton Printers Square* 8/1/2001 $12,784.41 0 $ -- One Wilshire Arcade* 8/1/2001 $24,965.68 0 $ --
* Payment made by affiliate, Facilicom International, LLC. On behalf of Debtor. OPERATING REPORT Page 5 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS For the Month Ending August 31, 2001 STATEMENT OF AGED RECEIVABLES
ACCOUNTS RECEIVABLE 3RD PARTY INTERCOMPANY TOTAL --------------- ------------- --------------- Beginning of month balance $105,981,759.27 $ 119,099.49 $106,100,858.76 Add: sales on account $ -- $ -- $ -- Less: customer credits $ (200,500.66) $ -- $ (200,500.66) Add: intercompany activity $ -- $5,063,791.67 $ 5,063,791.67 Less: collections $ (5,177,709.41) $ -- $ (5,177,709.41) Less: offsets $ -- $ -- $ -- Less: application of customer deposits $ -- $ -- $ -- --------------- ------------- --------------- End of month balance $100,603,549.20 $5,182,891.16 $105,786,440.36 =============== ============= =============== =============== 0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total --------- ---------- ---------- --------------- ------------------ $ - $ - $10,085.65 $100,593,463.55 $100,603,549.20 STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION) 3RD PARTY INTERCOMPANY TOTAL --------------- ------------- --------------- Beginning of month balance $ 559,333.21 $7,457,870.87 $ 8,017,204.08 Add: sales on account** $ 16,867.83 $ -- $ 16,867.83 Add: intercompany activity Expenses paid directly by Parent or Affiliate $ (90,297.90) $ 90,297.90 $ -- Net cash advanced by Parent or Affiliate $ -- $ -- $ -- Credit extended by Parent or Affiliate $ -- $ -- $ -- Amounts collected on behalf of Affiliate $ -- $ -- $ -- Less: payments $ (1,466.96) $ -- $ (1,466.96) --------------- ------------- --------------- End of month balance $ 484,436.18 $7,548,168.77 $ 8,032,604.95 =============== ============= =============== 0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total --------- ------------ ---------- ------------ ------------------ $ - $ 105,183.42 $25,910.85 $353,341.91 $484,436.18
** The post-petition accounts payable balances accrued for above are subject to customary audit and review, which could result in changes to the balances recorded. If upon such audit and review amounts invoiced by vendors are disputed, such disputed amounts are not reflected in the accounts payable balances reflected above. As of August 31, the Debtor has been invoiced cumulative post-petition disputed amounts totalling $4,647,970. OPERATING REPORT Page 6 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS For The Month Ending: August 31, 2001 TAX QUESTIONNAIRE Debtors in possession and trustees are required to pay all taxes incurred after the filing of their Chapter 11 petition on an as due basis. Please indicate whether the following post petition taxes or withholdings have been paid currently. 1. Federal income taxes Yes (X) No ( ) 2. FICA withholdings Yes (X) No ( ) 3. Employee's withholdings Yes (X) No ( ) 4. Employer's FICA Yes (X) No ( ) 5. Federal unemployment taxes Yes (X) No ( ) 6. State income tax Yes (X) No ( ) 7. State employee withholdings Yes (X) No ( ) 8. All other state taxes See Note Below If any of the above have not been paid, state below the tax not paid, the amounts past due and the date of the last payment. Note to Item 8: The Debtor may have personal property subject to tax in various jurisdictions throughout the United States. No expense has been accrued or paid for any such potential post-petition claims. OPERATING REPORT Page 7 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION DECLARATION UNDER PENALTY OF PERJURY I, Henry C. Lyon, acting as the duly authorized agent for the Debtor in Possession declare under penalty of perjury under the laws of the United States that I have read and I certify that the figures, statements, disbursement itemizations, and account balances as listed in this Monthly Report of the Debtor are true and correct as of the date of this report to the best of my knowledge, information and belief. /s/ Henry C. Lyon ------------------------------------------------- For the Debtor In Possession Henry C. Lyon Designated Officer IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS For the Month Ending September 30, 2001 BEGINNING BALANCE IN ALL ACCOUNTS $ 730,980.81 Add: Checks voided during period $ 35,982.91 ------------- Adjusted Beginning Balance in All Accounts $ 766,963.72 RECEIPTS: 1. Receipts from Operations $ -- Receipts from Operations (Received by Parent or Affiliates) $ 27,972.79 2. Other Receipts $ -- ------------- TOTAL RECEIPTS $ 27,972.79 Less: Receipts received by Parent or Affiliates $ (27,972.79) ------------- ADJUSTED TOTAL RECEIPTS $ -- DISBURSEMENTS 3. Net Payroll a. Officers $ -- b. Others $ -- 4. Taxes a. Federal Income Taxes $ -- b. FICA Withholdings $ -- c. Employee's withholdings $ -- d. Employer's FICA $ -- e. Federal Unemployment Taxes $ -- f. State Income Tax $ -- g. State Employee withholdings $ -- h. All other state taxes $ -- 5. Necessary Expenses a. Rent or mortgage payment(s) $ 12,152.20 b. Utilities $ -- c. Insurance (Paid by Parent or Affiliate) $ -- d. Merchandise bought for manufacture or sell $ -- e. Other necessary expenses $ -- Employee Expenses $ -- Office Expenses $ 608.48 Legal Fees $ 9,750.00 ------------- TOTAL DISBURSEMENTS $ 22,510.68 Less: Disbursements paid by Parent or Affiliates $ (12,152.20) ------------- ADJUSTED TOTAL DISBURSEMENTS $ 10,358.48 NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $ (10,358.48) NET INTERCOMPANY SWEEP TRANSFERS - FCI $5,063,791.67 ------------- ENDING BALANCE IN Bank of America 3751607047 $4,973,791.79 ENDING BALANCE IN Bank of America 3751567556 $ 503,221.77 ENDING BALANCE IN Bank of America 2591500124 $ 296,982.53 ENDING BALANCE IN 00-2662-5 Bank West $ 1,067.05 ENDING BALANCE IN CNSC-Merrill Lynch $ 383.40 ENDING BALANCE IN CNSC-SW Bank of TX $ 1,365.58 ENDING BALANCE IN CNSC Tax Acct-Bank of West $ 31,050.76 ENDING BALANCE IN Int Transfer-Cash Transfer $ 7,582.95 ENDING BALANCE IN Bank of the West $ 39.06 ENDING BALANCE IN Mexico Bills $ 35.87 ENDING BALANCE IN Merrill Lynch $ 4,876.15 ------------- ENDING BALANCE IN ALL ACCOUNTS $5,820,396.91 =============
OPERATING REPORT Page 1 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS RECEIPTS LISTING For the Month Ending September 30, 2001 Bank: Bank of America Location: Dallas, TX Account Name: Customer Connection Analyzed Checking Account Number: 3751607047
DATE RECEIVED DESCRIPTION AMOUNT ------------- ----------- ------ 09/17/01 Caprock Receipt transferred from Facilicom Bank Account $4,972,584.49 ------------- $4,972,584.49 =============
OPERATING REPORT Page 2 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS RECEIPTS LISTING For the Month Ending September 30, 2001 Bank: Bank of America Location: Dallas, Texas Account Name: Customer Connection Analyzed Checking Account Number: 3751567556
DATE RECEIVED DESCRIPTION AMOUNT ------------- ----------- ------ 09/17/01 Caprock Receipt transferred from Facilicom Bank Account $91,207.18 ---------- Total $91,207.18 ==========
OPERATING REPORT Page 3 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS RECEIPTS LISTING For the Month Ending September 30, 2001 DEPOSITED IN AFFILIATE'S BANK ACCOUNT (TO BE TRANSFERRED TO DEBTOR'S ACCOUNT)
WHERE DATE RECEIVED DEPOSITED DESCRIPTION AMOUNT ------------- --------- ----------- ------ 09/10/01 FCI NTS Communications $27,972.79 ---------- $27,972.79 ==========
Parent and Affiliate Abbreviations: WAXS World Access, Inc. WATP WA Telecom Products Co., Inc. FCI Facilicom International, LLC WxC WorldxChange Communications, Inc. OPERATING REPORT Page 4 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS DISBURSEMENT LISTING For the Month Ending September 30, 2001 Bank: Bank of America Location: Dallas, TX Account Name: Customer Connection Analyzed Checking Account Number: 3751567556
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT -------------- ------------ ----------- ------ 09/21/01 0000000347 VANGUARD ARCHIVES $ 608.48 09/21/01 0000000348 US TRUSTEE PROG $ 9,750.00 ---------- Total $10,358.48 ==========
OPERATING REPORT Page 5 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS For the Month Ending September 30, 2001 STATEMENT OF INVENTORY Beginning Inventory $ -- Add: purchases $ -- Less: goods sold $ -- ------ Ending inventory $ -- ====== PAYROLL INFORMATION STATEMENT Gross payroll for this period $ -- Payroll taxes due but unpaid $ --
STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS
DATE REGULAR AMOUNT OF NUMBER OF AMOUNT OF NAME OF CREDITOR/LESSOR PAYMENT IS DUE REGULAR PAYMENT PAYMENTS DELINQUENT PAYMENTS DELINQUENT ----------------------- -------------- ---------------- -------------------- ------------------- Waterton Printers Square* 9/1/2001 $ 12,784.41 0 $ -- One Wilshire Arcade* 9/1/2001 $ 24,965.68 0 $ --
* Payment made by affiliate, Facilicom International, LLC. On behalf of Debtor. OPERATING REPORT Page 6 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS For the Month Ending September, 2001 STATEMENT OF AGED RECEIVABLES
ACCOUNTS RECEIVABLE 3RD PARTY INTERCOMPANY TOTAL --------- ------------ ----- Beginning of month balance $100,603,549.20 $ 5,182,891.16 $105,786,440.36 Add: sales on account $ -- $ -- $ -- Add: customer credits $ -- $ -- $ -- Add: intercompany activity $ -- $(5,063,791.67) $ (5,063,791.67) Less: collections $ (27,972.79) $ 27,972.79 $ -- Less: offsets $ -- $ -- $ -- Less: application of customer deposits $ -- $ -- $ -- --------------- -------------- --------------- End of month balance $100,575,576.41 $ 147,072.28 $100,722,648.69 =============== ============== ===============
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total --------- ---------- ---------- ------------ ------------------ $ -- $(1,715.23) $ -- $100,577,291.64 $100,575,576.41
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)
3RD PARTY INTERCOMPANY TOTAL --------- ------------ ----- Beginning of month balance $484,436.18 $7,548,168.77 $8,032,604.95 Add: sales on account** $ 22,510.68 $ -- $ 22,510.68 Add: intercompany activity -- $ -- $ -- Expenses paid directly by Parent or Affiliate $(12,152.20) $ 12,152.20 $ -- Net cash advanced by Parent or Affiliate $ -- $ -- $ -- Credit extended by Parent or Affiliate $ -- $ -- $ -- Amounts collected on behalf of Affiliate $ -- $ -- $ -- Less: payments $(10,358.48) $ -- $ (10,358.48) ----------- ------------- ------------- End of month balance $484,436.18 $7,560,320.97 $8,044,757.15 =========== ============= =============
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total --------- ---------- ---------- ------------ ------------------ $ -- $ -- $105,183.42 $379,252.76 $484,436.18
** The post-petition accounts payable balances accrued for above are subject to customary audit and review, which could result in changes to the balances recorded. If upon such audit and review amounts invoiced by vendors are disputed, such disputed amounts are not reflected in the accounts payable balances reflected above. As of September 30, the Debtor has been invoiced cumulative post-petition disputed amounts totalling $4,700,474. OPERATING REPORT Page 7 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS For The Month Ending: September 30, 2001 TAX QUESTIONNAIRE Debtors in possession and trustees are required to pay all taxes incurred after the filing of their Chapter 11 petition on an as due basis. Please indicate whether the following post petition taxes or withholdings have been paid currently. 1. Federal income taxes Yes [X] No [ ] 2. FICA withholdings Yes [X] No [ ] 3. Employee's withholdings Yes [X] No [ ] 4. Employer's FICA Yes [X] No [ ] 5. Federal unemployment taxes Yes [X] No [ ] 6. State income tax Yes [X] No [ ] 7. State employee withholdings Yes [X] No [ ] 8. All other state taxes See Note Below If any of the above have not been paid, state below the tax not paid, the amounts past due and the date of the last payment. Note to Item 8: The Debtor may have personal property subject to tax in various jurisdictions throughout the United States. No expense has been accrued or paid for any such potential post-petition claims. OPERATING REPORT Page 8 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION DECLARATION UNDER PENALTY OF PERJURY I, Henry C. Lyon, acting as the duly authorized agent for the Debtor in Possession declare under penalty of perjury under the laws of the United States that I have read and I certify that the figures, statements, disbursement itemizations, and account balances as listed in this Monthly Report of the Debtor are true and correct as of the date of this report to the best of my knowledge, information and belief. /s/ Henry C. Lyon ------------------------------------------- For the Debtor In Possession Henry C. Lyon Designated Officer OPERATING REPORT Page 9 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS For the Month Ending October 31, 2001 BEGINNING BALANCE IN ALL ACCOUNTS $ 5,820,396.91 RECEIPTS: 1. Receipts from Operations $ -- 2. Other Receipts $ -- ---------------- TOTAL RECEIPTS $ -- DISBURSEMENTS 3. Net Payroll a. Officers $ -- b. Others $ -- 4. Taxes a. Federal Income Taxes $ -- b. FICA Withholdings $ -- c. Employee's withholdings $ -- d. Employer's FICA $ -- e. Federal Unemployment Taxes $ -- f. State Income Tax $ -- g. State Employee withholdings $ -- h. All other state taxes $ -- 5. Necessary Expenses a. Rent or mortgage payment(s) (Paid by Parent or Affiliate) $ 12,784.41 b. Utilities $ -- c. Insurance $ -- d. Merchandise bought for manufacture or sell $ -- e. Other necessary expenses Office Expenses $ 9,032.44 ---------------- TOTAL DISBURSEMENTS $ 21,816.85 Less: Disbursements paid by Parent or Affiliates $ (12,784.41) ---------------- ADJUSTED TOTAL DISBURSEMENTS $ 9,032.44 ---------------- NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $ (9,032.44) NET INTERCOMPANY SWEEP TRANSFERS - FCI $ 27,972.79 ---------------- ENDING BALANCE IN Bank of America 3751607047 $ 4,992,854.44 ENDING BALANCE IN Bank of America 3751567556 $ 503,099.47 ENDING BALANCE IN Bank of America 2591500124 $ 296,982.53 ENDING BALANCE IN 00-2662-5 Bank West $ 1,067.05 ENDING BALANCE IN CNSC-Merrill Lynch $ 383.40 ENDING BALANCE IN CNSC-SW Bank of TX $ 1,365.58 ENDING BALANCE IN CNSC Tax Acct-Bank of West $ 31,050.76 ENDING BALANCE IN Int Transfer-Cash Transfer $ 7,582.95 ENDING BALANCE IN Bank of the West $ 39.06 ENDING BALANCE IN Mexico Bills $ 35.87 ENDING BALANCE IN Merrill Lynch $ 4,876.15 ---------------- ENDING BALANCE IN ALL ACCOUNTS $ 5,839,337.26 ================
OPERATING REPORT Page 1 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS DISBURSEMENT LISTING For the Month Ending October 31, 2001 Bank: Bank of America Location: Dallas, TX Account Name: Customer Connection Analyzed Checking Account Number: 3751607047
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT -------------- ------------ ----------- ------ 10/29/01 27 SWBT $ 8,910.14 ----------- Total $ 8,910.14 ===========
OPERATING REPORT Page 2 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS DISBURSEMENT LISTING For the Month Ending October 31, 2001 Bank: Bank of America Location: Dallas, TX Account Name: Customer Connection Analyzed Checking Account Number: 3751567556
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT -------------- ------------ ----------- ------ 10/29/01 0000000349SWBT $122.30 ------- Total $122.30 =======
OPERATING REPORT Page 3 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS For the Month Ending October 31, 2001 STATEMENT OF INVENTORY Beginning Inventory $ -- Add: purchases $ -- Less: goods sold $ -- ---------- Ending inventory $ -- ========== PAYROLL INFORMATION STATEMENT Gross payroll for this period $ -- Payroll taxes due but unpaid $ --
STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS
DATE REGULAR AMOUNT OF NUMBER OF AMOUNT OF NAME OF CREDITOR/LESSOR PAYMENT IS DUE REGULAR PAYMENT PAYMENTS DELINQUENT PAYMENTS DELINQUENT ----------------------- -------------- --------------- ------------------- ------------------- Waterton Printers Square* Monthly $ 12,784.41 0 $ -- One Wilshire Arcade* Monthly $ 24,965.68 0 $ --
* Payment made by affiliate, Facilicom International, LLC. On behalf of Debtor. OPERATING REPORT Page 4 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS For the Month Ending October 31, 2001 STATEMENT OF AGED RECEIVABLES
ACCOUNTS RECEIVABLE 3RD PARTY INTERCOMPANY TOTAL ------------------------------------------------------------------- Beginning of month balance $ 100,575,576.41 $ 147,072.28 $ 100,722,648.69 Add: sales on account $ -- $ -- $ -- Add: customer credits $ -- $ -- $ -- Add: intercompany activity $ -- $ (27,972.79) $ (27,972.79) Less: collections $ -- $ -- $ -- Less: offsets $ -- $ -- $ -- Less: application of customer deposits $ (64,699.35) $ -- $ (64,699.35) ---------------- ------------- ------------------ End of month balance $ 100,510,877.06 $ 119,099.49 $ 100,629,976.55 ================ ============= ==================
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total --------- ---------- ---------- ------------ ------------------ $ -- $ -- $ -- $100,510,877.06 $ 100,510,877.06
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION) 3RD PARTY INTERCOMPANY TOTAL -------------------------------------------------------------------- Beginning of month balance $ 484,436.18 $7,560,320.97 $ 8,044,757.15 Add: sales on account** $ 71,816.85 $ -- $ 71,816.85 Add: intercompany activity Expenses paid directly by Parent or Affiliate $ (12,784.41) $ 12,784.41 $ -- Net cash advanced by Parent or Affiliate $ -- $ -- $ -- Credit extended by Parent or Affiliate $ -- $ -- $ -- Amounts collected on behalf of Affiliate $ -- $ -- $ -- Less: payments $ (9,032.44) $ -- $ (9,032.44) ---------------- ------------- ------------------ End of month balance $ 534,436.18 $7,573,105.38 $ 8,107,541.56 ================ ============= ==================
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total --------- ---------- ---------- ------------ ------------------ $38,588.64 $11,411.36 $ -- $ 484,436.18 $ 534,436.18
**The post-petition accounts payable balances accrued for above are subject to customary audit and review, which could result in changes to the balances recorded.If upon such audit and review amounts invoiced by vendors are disputed, such disputed amounts are not reflected in the accounts payable balances reflected above.As of October 31, the Debtor has been invoiced cumulative post-petition disputed amounts totalling $4,759,294. OPERATING REPORT Page 5 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS For The Month Ending: October 31, 2001 TAX QUESTIONNAIRE Debtors in possession and trustees are required to pay all taxes incurred after the filing of their Chapter 11 petition on an as due basis.Please indicate whether the following post petition taxes or withholdings have been paid currently. 1. Federal income taxes Yes (X) No () 2. FICA withholdings Yes (X) No () 3. Employee's withholdings Yes (X) No () 4. Employer's FICA Yes (X) No () 5. Federal unemployment taxes Yes (X) No () 6. State income tax Yes (X) No () 7. State employee withholdings Yes (X) No () 8. All other state taxes See Note Below
If any of the above have not been paid, state below the tax not paid, the amounts past due and the date of the last payment. Note to Item 8: The Debtor may have personal property subject to tax in various jurisdictions throughout the United States.No expense has been accrued or paid for any such potential post-petition claims. OPERATING REPORT Page 6 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION DECLARATION UNDER PENALTY OF PERJURY I, Henry C. Lyon, acting as the duly authorized agent for the Debtor in Possession declare under penalty of perjury under the laws of the United States that I have read and I certify that the figures, statements, disbursement itemizations, and account balances as listed in this Monthly Report of the Debtor are true and correct as of the date of this report to the best of my knowledge, information and belief. /s/ Henry C. Lyon -------------------------------------- For the Debtor In Possession Henry C. Lyon Designated Officer OPERATING REPORT Page 7