-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SpiBcHuR2yjtLwn9EBlG658QiswO0Lw08phtH5zwh6cS1X80+H5qivFkSNhxyehC z0uvaXJd0XJnM9I5biR1mQ== 0000950144-04-006123.txt : 20040609 0000950144-04-006123.hdr.sgml : 20040609 20040609153540 ACCESSION NUMBER: 0000950144-04-006123 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 6 CONFORMED PERIOD OF REPORT: 20040609 ITEM INFORMATION: Bankruptcy or receivership ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040609 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WORLD ACCESS INC /NEW/ CENTRAL INDEX KEY: 0001071645 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 582398004 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-29782 FILM NUMBER: 04855994 BUSINESS ADDRESS: STREET 1: 945 EAST PACES FERRY ROAD STREET 2: SUITE 2200 CITY: ATLANTA STATE: GA ZIP: 30326 BUSINESS PHONE: 4042312025 MAIL ADDRESS: STREET 1: 945 EAST PACES FERRY ROAD STREET 2: SUITE 2200 CITY: ATLANTA STATE: GA ZIP: 30326 FORMER COMPANY: FORMER CONFORMED NAME: WAXS INC DATE OF NAME CHANGE: 19981006 8-K 1 g89557e8vk.htm WORLD ACCESS, INC. WORLD ACCESS, INC.
Table of Contents

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 9, 2004

WORLD ACCESS, INC.

(Exact Name of Registrant as Specified in Charter)
         
Delaware
(State of
Incorporation) 		  0-29782
(Commission File No.) 		  58-2398004
(I.R.S. Employer
Identification No.)

945 E. Paces Ferry Road, Suite 2200
Atlanta, Georgia 30326
(Address of principal executive offices, including zip code)

(404) 231-2025
(Registrant’s telephone number, including area code)

 

TABLE OF CONTENTS

SIGNATURE
EX-99.1 MONTHLY OPERATING REPORT/WORLD ACCESS, INC
EX-99.2 MONTHLY OPERATING REPORT/WA TELCOM
EX-99.3 MONTHLY OPERATING REPORT/WORLD ACCESS TELE
EX-99.4 MONTHLY OPERATING REPORT/FACILICOM INT'L
EX-99.5 MONTHLY OPERATING REPORT/WORLDXCHANGE COMM

Table of Contents

Item 3. Bankruptcy or Receivership.

          On April 24, 2001, World Access, Inc. filed voluntary petitions for Chapter 11 relief in the United States Bankruptcy Court for the Northern District of Illinois, Eastern Division (the “Court”), on behalf of itself and certain of its U.S. subsidiaries, including WA Telcom Products Co., Inc., World Access Telecommunications Group, Inc., FaciliCom International, L.L.C. and WorldxChange Communications, Inc. (collectively, the “Subsidiaries”).

          Copies of the Monthly Operating Reports for World Access and each of the Subsidiaries for the month of April 2004 are attached to this Report as Exhibits 99.1 through 99.5. The financial information in these reports is unaudited and has not been reviewed by an independent accountant.

Item 7. Financial Statements and Exhibits

          (c) Exhibits.

     
Exhibit    
Number
   Description
99.1
  Monthly Operating Report of World Access, Inc.
99.2
  Monthly Operating Report of WA Telcom Products Co., Inc.
99.3
  Monthly Operating Report of World Access Telecommunications Group.
99.4
  Monthly Operating Report of FaciliCom International, L.L.C.
99.5
  Monthly Operating Report of WorldxChange Communications.

 

Table of Contents

SIGNATURE

          Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on behalf of the undersigned hereunto duly authorized.

         
  WORLD ACCESS, INC.
 
        
Date: June 9, 2004
  By:   /s/ Henry C. Lyon
     
 
      Henry C. Lyon
Vice President and Chief Accounting Officer

 

EX-99.1 2 g89557exv99w1.txt EX-99.1 MONTHLY OPERATING REPORT/WORLD ACCESS, INC IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHER DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS For the Month Ending: April 30, 2004 BEGINNING BALANCE IN ALL ACCOUNTS $ 14,171,418.23 RECEIPTS: 1. Receipts from Operations $ - 2. Other Receipts $ 12,270.21 Preference Action Collections $ 32,300.00 Other receipts (Received on behalf of Affiliates) $ - --------------- TOTAL RECEIPTS $ 44,570.21 DISBURSEMENTS 3. Net Payroll a. Officers $ 39,653.64 b. Others $ 39,652.99 4. Taxes a. Federal Income Taxes $ 21,249.21 b. FICA Withholdings $ 6,216.08 c. Employee's withholdings $ 153.94 d. Employer's FICA $ 6,216.07 e. Federal Unemployment Taxes $ - f. State Income Tax $ 5,450.46 g. State Employee withholdings $ 191.85 h. All other state taxes $ 1,292.00 5. Necessary Expenses a. Rent or mortgage payment(s) $ 16,407.00 b. Utilities $ 4,481.73 c. Insurance $ 14,993.13 d. Merchandise bought for manufacture or sell $ - e. Other necessary expenses - Professional and Bankruptcy Court Related Fees and Expenses $ 114,594.68 Employee Expenses $ 7,007.49 Office Supplies & Expenses $ 4,857.84 Other $ 10,474.80 --------------- TOTAL DISBURSEMENTS $ 292,892.91 Add: Disbursements made on behalf of Parent or Affiliates $ 43,126.26 --------------- ADJUSTED TOTAL DISBURSEMENTS $ 336,019.17 --------------- NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $ (291,448.96) ENDING BALANCE IN Bank of America - Master 03751046297 $ 158,350.44 ENDING BALANCE IN Bank of America - Disbursement 03299976144 $ 345,115.66 ENDING BALANCE IN Bank of America - Payroll 03299944407 $ 93,674.04 ENDING BALANCE IN Bank of America - Payroll Taxes 03751301149 $ 53,197.61 ENDING BALANCE IN Bank of America - Money Market 851018 $ 7,966,595.31 ENDING BALANCE IN Deustch Bank - S/T Investment 206-19648 $ 5,263,036.21 --------------- ENDING BALANCE IN ALL ACCOUNTS $ 13,879,969.27 ===============
OPERATING REPORT Page 1 IN THE UNITED STATES COURT FOR THE NORTHER DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS RECEIPTS LISTING For the Month Ending: April 30, 2004 Bank: Bank of America Location: Dallas, TX Account Name: Master Account Account Number: 03751046297
DATE RECEIVED DESCRIPTION AMOUNT - ------------- --------------------------- --------------- 04/16/04 Apto Solutions $ 314.67 04/16/04 Bill Nipper $ 55.00 04/16/04 Arlington Computer Products $ 10,000.00 04/16/04 Comcast $ 1,200.00 04/16/04 Ying Wang $ 11,100.00 04/28/04 Fedex $ 10,000.00 --------------- Total WAXS Receipts $ 32,669.67 ===============
OPERATING REPORT Page 2 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHER DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS RECEIPTS LISTING For the Month Ending: April 30, 2004 Bank: Bank of America (Nations Funds) Location: Charlotte, NC Account Name: Money Market Account Number: 851018
DATE RECEIVED DESCRIPTION AMOUNT - ------------- --------------------------- --------------- 04/30/04 Interest Received $ 8,197.53 --------------- Total WAXS Receipts $ 8,197.53 ===============
OPERATING REPORT Page 3 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHER DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS RECEIPTS LISTING For the Month Ending: April 30, 2004 Bank: Deutsche Bank Alex. Brown Location: Baltimore, MD Account Name: Investment Account Account Number: 206-19648
DATE RECEIVED DESCRIPTION AMOUNT - ------------- --------------------------- --------------- 04/30/04 Interest Received $ 3,703.01 --------------- Total WAXS Receipts $ 3,703.01 ===============
OPERATING REPORT Page 4 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHER DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS DISBURSEMENT LISTING For the Month Ending: April 30, 2004 Bank: Bank of America Location: Dallas, TX Account Name: Master Account Account Number: 03751046297
DATE DISBURSED DESCRIPTION AMOUNT - -------------- --------------------------- --------------- 04/01/04 EZ-Com Technologies $ 13,000.00 04/05/04 Bank Fees $ 30.00 04/07/04 Debra Dawn $ 2,063.33 04/20/04 Merrill Lynch $ 153.94 --------------- Total WAXS Disbursements $ 15,247.27 ===============
Less: Disbursements made to or on behalf of Parent or Affiliates. Facilicom 04/01/04 EZ-Com Technologies $ 13,000.00 --------------- Total Affiliate Payments $ 13,000.00 --------------- Total WAXS Disbursements $ 2,247.27 ===============
OPERATING REPORT Page 5 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHER DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS DISBURSEMENT LISTING For the Month Ending: April 30, 2004 Bank: Bank of America Location: Dallas, TX Account Name: Payroll Account Account Number: 03299944407
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT - -------------- ------------ -------------- --------------- 04/06/04 Multiple Payroll Checks $ 39,763.27 04/20/04 Multiple Payroll Checks $ 39,543.36 --------------- Total WAXS Disbursements $ 79,306.63 ===============
OPERATING REPORT Page 6 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHER DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS DISBURSEMENT LISTING For the Month Ending: April 30, 2004 Bank: Bank of America Location: Dallas, TX Account Name: Corporate Disbursement Account Number: 03299976144
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT - -------------- ------------ -------------------------------------- --------------- 04/01/04 37078 Apollo Consulting $ 2,000.00 04/01/04 37079 BellSouth $ 482.49 04/01/04 37080 Debra Dawn $ 1,146.45 04/01/04 37081 Federal Express $ 126.54 04/01/04 37082 Metropolitan Life Insurance $ 6,083.83 04/01/04 37083 North Atlanta Realty Acquisition $ 9,251.67 04/01/04 37084 New Jersey Dept. of Labor $ 12.73 04/01/04 37085 Nextel Communications $ 392.26 04/01/04 37086 SBC-Pacbell $ 119.57 04/01/04 37087 Kamran Saeed $ 250.00 04/01/04 37088 United HealthCare $ 7,642.47 04/08/04 37089 Federal Express $ 93.09 04/08/04 37090 Gardner, Carton & Douglas $ 1,080.55 04/08/04 37091 Jenner & Block, LLC $ 45,066.70 04/08/04 37092 Lanier Parking Systems $ 550.00 04/08/04 37093 Levine & Block $ 34,899.18 04/08/04 37094 MCI Worldcom $ 2,511.27 04/08/04 37095 MCI Worldcom $ 45.37 04/08/04 37096 SBC-Pacbell $ 95.17 04/08/04 37097 Poorman-Douglas Corporation $ 1,896.32 04/08/04 37098 Kamran Saeed $ 250.00 04/08/04 37099 State Compensation Insurance Fund $ 1,266.83 04/08/04 37100 Ann Wallace $ 2,877.02 04/08/04 37101 Winstead Sechrest & Minick, P.C. $ 11,583.46 04/16/04 37102 Copier Solutions $ 495.00 04/16/04 37103 Ernst & Young, LLP $ 16,850.40 04/16/04 37104 Federal Express $ 278.77 04/16/04 37105 Judco Management, Inc. $ 8,625.00 04/16/04 37106 Michael Mies $ 2,796.44 04/16/04 37107 Nextel Communications $ 278.48 04/16/04 37108 SBC-Pacbell $ 340.22 04/16/04 37109 Kamran Saeed $ 250.00 04/16/04 37110 San Diego Gas & Electric $ 216.90 04/16/04 37111 Mark Warner $ 5,000.00 04/23/04 37112 Vanguard Archives $ 666.13 04/23/04 37113 Armstrong Teasdale, LLP $ 3,044.78 04/23/04 37114 Block Legal Video $ 2,182.00 04/23/04 37115 Continental Stock Transfer & Trust Co. $ 894.64 04/23/04 37116 Federal Express $ 210.55 04/23/04 37117 H. Peter Gant $ 271.75 04/23/04 37118 Katten Muchin Zavis Roseman $ 8,536.73
OPERATING REPORT Page 7 Page 1 of 2 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHER DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS DISBURSEMENT LISTING For the Month Ending: April 30, 2004 Bank: Bank of America Location: Dallas, TX Account Name: Corporate Disbursement Account Number: 03299976144
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT - -------------- ------------ ---------------------------- --------------- 04/23/04 37119 Katherine Levesque $ 729.52 04/23/04 37120 MDC-Mark II $ 16,407.00 04/23/04 37121 Nowalsky, Bronston & Gothard $ 531.97 04/23/04 37122 Osborne-Clarke $ 506.05 04/23/04 37123 OSHA $ 400.00 04/23/04 37124 Royal Cup, Inc. $ 179.25 04/23/04 37125 Kamran Saeed $ 250.00 --------------- Total $ 199,664.55
Less: Disbursements made to or on behalf of Parent or Affiliates. WA Telecom Products Co., Inc. 04/01/04 37083 North Atlanta Realty Acquisition $ 9,251.67 Facilicom 04/16/04 37105 Judco Management, Inc. $ 8,625.00 World Access Telecommunication Group, Inc. 04/08/04 37101 Winstead Sechrest & Minick, P.C. $ 11,583.46 04/23/04 37112 Vanguard Archives $ 666.13 --------------- Total Affiliate Payments $ 30,126.26 --------------- Total WAXS Disbursements $ 169,538.29 ===============
OPERATING REPORT Page 7 Page 2 of 2 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHER DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS DISBURSEMENT LISTING For the Month Ending: April 30, 2004 Bank: Bank of America Location: Dallas, TX Account Name: Payroll Account Account Number: 0751301149
DATE DISBURSED DESCRIPTION AMOUNT - -------------- --------------------------- --------------- 04/06/04 Payroll Taxes $ 21,410.83 04/20/04 Payroll Taxes $ 19,204.84 04/30/04 Processing Fees $ 1,185.05 --------------- Total WAXS Disbursements $ 41,800.72 ===============
OPERATING REPORT Page 8 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHER DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS For the Month Ending: April 30, 2004 STATEMENT OF INVENTORY Beginning Inventory $ - Add: purchases $ - Less: goods sold $ - ------------ Ending inventory $ - ============
PAYROLL INFORMATION STATEMENT Gross payroll for this period $ 120,076.24 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 - ----------------------- -------------- --------------- ------------------- ------------------- Xerox Corporation Monthly $ 1,247.84 10 $ 12,478.40
OPERATING REPORT Page 9 FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS For the Month Ending: April 30, 2004 STATEMENT OF AGED RECEIVABLES
ACCOUNTS RECEIVABLE 3RD PARTY INTERCOMPANY TOTAL -------------- -------------- -------------- Beginning of month balance $ - $14,082,499.60 $14,082,499.60 Add: sales on account $ - $ - $ - expenses paid for affiliate $ - $ 43,126.26 $ 43,126.26 cash advanced to affiliate $ - $ - $ - Less: collections $ - $ - $ - -------------- -------------- -------------- End of month balance $ - $14,125,625.86 $14,125,625.86 ============== ============== ==============
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total - --------- -------------- -------------- -------------- ------------------ $ - $ - $ - $ - $ -
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)
3RD PARTY INTERCOMPANY TOTAL -------------- -------------- -------------- Beginning of month balance $ 1,795,352.17 $22,401,305.15 $24,196,657.32 Add: sales on account $ (28,383.19) $ - $ (28,383.19) Cash received on behalf of Affiliate $ - $ - $ - Cash received from Affiliate $ - $ - $ - Less: payments $ (292,892.91) $ - $ (292,892.91) -------------- -------------- -------------- End of month balance $ 1,474,076.07 $22,401,305.15 $23,875,381.22 ============== ============== ==============
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total - ------------- ------------------- -------------- -------------- ------------------ $ 136,151.06 $ 82,203.32 $ 16,442.55 $ 1,239,279.14 $ 1,474,076.07
OPERATING REPORT Page 10 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHER DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: World Access, Inc. CASE NUMBER: 01-14633-SPS For the Month Ending: April 30, 2004 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 11 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. _____________________________________________ For the Debtor In Possession Henry C. Lyon Designated Officer OPERATING REPORT Page 12 EX-99.2 3 g89557exv99w2.txt EX-99.2 MONTHLY OPERATING REPORT/WA TELCOM IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHER DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: WA Telcom Products Co., Inc. CASE NUMBER: 01-14635-SPS SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS For the Month Ending: April 30, 2004 BEGINNING BALANCE IN ALL ACCOUNTS $10,088,233.75 RECEIPTS: 1. Receipts from Operations $ - Receipts from Operations (Received by Parent) $ - 2. Other Receipts $ 7,103.16 Other receipts (Received by Parent or Affiliates) $ - -------------- TOTAL RECEIPTS $ 7,103.16 Less: Receipts received by Parent or Affiliates $ - -------------- ADJUSTED TOTAL RECEIPTS $ 7,103.16 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) $ 9,251.67 b. Utilities $ - c. Insurance $ - d. Merchandise bought for manufacture or sell $ - e. Other necessary expenses Office Supplies & Expenses $ - Other $ - -------------- TOTAL DISBURSEMENTS $ 9,251.67 Less: Disbursements made by Parent or Affiliates $ (9,251.67) -------------- ADJUSTED TOTAL DISBURSEMENTS $ - -------------- NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $ 7,103.16 NET INTERCOMPANY SWEEPS/TRANSFERS - World Access, Inc. $ - -------------- ENDING BALANCE IN Deustch Bank - S/T Investment 206-21130 $10,095,336.91 -------------- ENDING BALANCE IN ALL ACCOUNTS $10,095,336.91 ==============
OPERATING REPORT Page 1 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHER DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: WA Telcom Products Co., Inc. CASE NUMBER: 01-14635-SPS RECEIPTS LISTING For the Month Ending: April 30, 2004 Bank: Deutsche Bank Alex. Brown Location: Baltimore, MD Account Name: Investment Account Account Number: 206-21130
DATE RECEIVED DESCRIPTION AMOUNT - ------------- ---------------------------- ---------- 4/30/2004 Interest Received $ 7,103.16 ---------- Total WATP Receipts $ 7,103.16 ==========
OPERATING REPORT Page 2 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHER DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: WA Telcom Products Co., Inc. CASE NUMBER: 01-14635-SPS For the Month Ending: April 30, 2004 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 - --------------------------------------- -------------- --------------- ------------------- ------------------- North Atlanta Realty Monthly $ 9,674.60 - $ - GE Capital (Copier Lease) Monthly $ 575.72 - $ - Toshiba Easy Lease (Fax) Monthly $ 84.41 6 $ 506.46 Toshiba Easy Lease (Fax) Monthly $ 35.11 6 $ 210.66 GE Capital (Copier/Fax Lease) Monthly $ 612.83 6 $ 3,676.98 Ascom/Hasler (Postage Meter) Quarterly $ 181.15 - $ - Ascom/Hasler (Postage Meter) Quarterly $ 719.04 1 $ 719.04 Imperial Business Credit (Postage Meter) Quarterly $ 497.83 1 $ 497.83
OPERATING REPORT Page 3 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: WA Telcom Products Co., Inc. CASE NUMBER: 01-14635-SPS For the Month Ending: April 30, 2004 STATEMENT OF AGED RECEIVABLES
3RD PARTY INTERCOMPANY TOTAL --------------- -------------- --------------- ACCOUNTS RECEIVABLE Beginning of month balance $ 13,137,724.57 $20,948,967.89 $ 34,086,692.46 Add: sales on account $ - $ - $ - expenses paid for affiliate $ - $ - $ - cash advanced to affiliate $ - $ - $ - Less: collections $ - $ - $ - --------------- -------------- --------------- End of month balance $ 13,137,724.57 $20,948,967.89 $ 34,086,692.46 =============== ============== ===============
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total - --------- ---------- ---------- ---------------- ------------------ $ - $ - $ - $ 13,137,724.57 $ 13,137,724.57
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)
3RD PARTY INTERCOMPANY TOTAL ----------- -------------- -------------- Beginning of month balance $ 7,793.23 $ 1,037,534.31 $ 1,045,327.54 Add: sales on account $ 9,445.88 $ - $ 9,445.88 Cash received on behalf of Affiliate $ - $ - $ - Cash received from Affiliate $ - $ - $ - Less: payments $ (9,251.67) $ 9,251.67 $ - ----------- -------------- -------------- End of month balance $ 7,987.44 $ 1,046,785.98 $ 1,054,773.42 =========== ============== ==============
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total - --------- ---------- ---------- ------------ ------------------ $ 194.21 $ 750.00 $ - $ 7,043.23 $ 7,987.44
OPERATING REPORT Page 4 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHER DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: WA Telcom Products Co., Inc. CASE NUMBER: 01-14635-SPS For the Month Ending: April 30, 2004 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 5 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. ________________________________________ For the Debtor In Possession Henry C. Lyon Designated Officer OPERATING REPORT Page 6 EX-99.3 4 g89557exv99w3.txt EX-99.3 MONTHLY OPERATING REPORT/WORLD ACCESS TELE 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: April 30, 2004 BEGINNING BALANCE IN ALL ACCOUNTS $ 7,694,896.63 RECEIPTS: 1. Receipts from Operations $ 16,762.66 2. Other Receipts $ - -------------- TOTAL RECEIPTS $ 16,762.66 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 (Paid by Parent or Affiliate) a. Rent or mortgage payment(s) $ - b. Utilities $ - c. Insurance $ - d. Merchandise bought for manufacture or sell $ - e. Other necessary expenses U.S. Trustee Fee $ - Professional Fees $ 11,583.46 Record Storage Fees $ 666.13 -------------- TOTAL DISBURSEMENTS $ 12,249.59 Less: Disbursements paid by Parent or Affiliates $ (12,249.59) -------------- ADJUSTED TOTAL DISBURSEMENTS $ - -------------- NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $ 16,762.66 NET INTERCOMPANY SWEEP TRANSFERS - WAXS $ - -------------- ENDING BALANCE IN Bank of America 3751607047 $ 6,892,148.37 ENDING BALANCE IN Bank of America 3751567556 $ 819,510.92 -------------- ENDING BALANCE IN ALL ACCOUNTS $ 7,711,659.29 ==============
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: April 30, 2004 Bank: Bank of America Location: Dallas, TX Account Name: Customer Connection Analyzed Checking Account Number: 3751607047
DATE RECEIVED DESCRIPTION AMOUNT ------------- ----------- ------ Receipts from Operations: 4/20/2004 Jones Boys 2,000.00 4/20/2004 Bruce Johnson 2,500.00 4/20/2004 Specialty Outsourcing 3,000.00 4/20/2004 Telecom Services 7,262.66 4/30/2004 Blockwell Funding 2,000.00 ------------------------ Total $ 16,762.66 ========================
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 For the Month Ending: April 30, 2004 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 1 $ 24,965.68
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: April 30, 2004 STATEMENT OF AGED RECEIVABLES
ACCOUNTS RECEIVABLE 3RD PARTY* INTERCOMPANY TOTAL -------------------------------------------------------- Beginning of month balance $ 99,741,278.41 $ 119,099.49 $ 99,860,377.90 Add: sales on account $ - $ - $ - Less: customer credits $ - $ - $ - Less: collections $ (16,762.66) $ - $ (16,762.66) Less: offsets $ - $ - $ - Less: application of customer deposits $ - $ - -------------------------------------------------------- End of month balance $ 99,724,515.75 $ 119,099.49 $ 99,843,615.24 ========================================================
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total - --------- ---------- ---------- ------------ ------------------ $ - $ - $ - $ 99,724,515.75 $ 99,724,515.75
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)
3RD PARTY INTERCOMPANY TOTAL -------------------------------------------------------- Beginning of month balance $ 534,436.18 $8,009,876.74 $ 8,544,312.92 Add: sales on account** $ 12,249.59 $ - $ 12,249.59 Add: intercompany activity Expenses paid directly by Parent or Affiliate $ (12,249.59) $ 12,249.59 $ - Net cash advanced by Parent or Affiliate $ - $ - $ - Credit extended by Parent or Affiliate $ - $ - $ - Amounts collected on behalf of Affiliate $ - $ - $ - Less: payments $ - $ - $ - -------------------------------------------------------- End of month balance $ 534,436.18 $8,022,126.33 $ 8,556,562.51 ========================================================
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total - --------- ---------- ---------- ------------ ------------------ $ - $ - $ - $ 534,436.18 $ 534,436.18
* Accounts receivable balances represent gross amounts due from former customers. The vast majority of these balances are either being pursued via collection litigation or are claims against the former customers' bankruptcy estates. Thus, it is highly likely that a significant amount of the gross accounts receivable will not be collected. **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 the report date, the Debtor has been invoiced cumulative post-petition disputed amounts totalling $4,759,294. 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: April 30, 2004 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 5 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. __________________________________ For the Debtor In Possession Henry C. Lyon Designated Officer OPERATING REPORT Page 6 EX-99.4 5 g89557exv99w4.txt EX-99.4 MONTHLY OPERATING REPORT/FACILICOM INT'L IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: Facilicom International, L.L.C. CASE NUMBER: 01-14643-SPS SUMMARY OF CASH RECIEPTS AND CASH DISBURSEMENTS For the Month Ending: April 30, 2004 BEGINNING BALANCE IN ALL ACCOUNTS $14,285,813.88 RECEIPTS: 1. Receipts from Operations $ 68,181.82 2. Other Receipts $ - -------------- TOTAL RECEIPTS $ 68,181.82 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 (Paid by Parent or Affiliate) a. Rent or mortgage payment(s) $ - b. Utilities $ - c. Insurance $ - d. Merchandise bought for manufacture or sell $ - e. Other necessary expenses Computer Access/Hosting Services $ 21,625.00 U.S. Trustee Fee $ - Other $ - -------------- TOTAL DISBURSEMENTS $ 21,625.00 Less: Disbursements paid by Parent/Affiliate $ (21,625.00) -------------- ADJUSTED DISBURSEMENTS $ - NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $ 68,181.82 NET INTERCOMPANY SWEEP TRANSFERS - WAXS $ - -------------- ENDING BALANCE IN Citibank $ 8,432.90 ENDING BALANCE IN BofA-Atlanta GA $12,776,826.00 ENDING BALANCE IN BofA-Dallas TX $ 1,568,736.80 -------------- ENDING BALANCE IN ALL ACCOUNTS $14,353,995.70 ==============
OPERATING REPORT Page 1 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: Facilicom International, L.L.C. CASE NUMBER: 01-14643-SPS RECEIPTS LISTING For the Month Ending: April 30, 2004 Bank: Bank of America Location: Atlanta, GA Account Name: BofA-Atlanta GA Account Number: 329979536
DATE RECEIVED DESCRIPTION AMOUNT ------------- ----------- ------ Receipts from Operations: 4/30/2004 ARC Phone 68,181.82 ---------- $68,181.82 ==========
OPERATING REPORT Page 2 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: Facilicom International, L.L.C. CASE NUMBER: 01-14643-SPS For the Month Ending: April 30, 2004 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 - ----------------------- -------------- --------------- ------------------- ------------------- TMR, Inc Monthly $40,174.00 0 $ - New World Tower Partners Monthly $12,651.40 0 $ - Quinby Building Inc Monthly $10,087.82 2 $ 20,175.64 111 Eight Ave, LLC Monthly $42,485.59 0 $ - Descalso Howard Monthly $ 8,585.00 0 $ - One Wilshire Arcade Monthly $ 7,938.44 1 $ 7,938.44 Hatfield Philips Monthly $ 5,371.63 0 $ -
OPERATING REPORT Page 3 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: Facilicom International, L.L.C. CASE NUMBER: 01-14643-SPS For the Month Ending: April 30, 2004 STATEMENT OF AGED RECEIVABLES
ACCOUNTS RECEIVABLE 3RD PARTY* INTERCOMPANY TOTAL ----------------------------------------------------- Beginning of month balance $ 98,323,454.07 $ 5,817,959.31 $ 104,141,413.38 Add: sales on account $ - $ - $ - Less: customer credits $ - $ - $ - Less: collections $ (68,181.82) $ - $ (68,181.82) Less: offsets $ - $ - $ - Less: application of customer deposits $ - $ - $ - ---------------------------------------------------- End of month balance $ 98,255,272.25 $ 5,817,959.31 $ 104,073,231.56 ====================================================
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total - --------- ---------- ---------- ------------ ------------------ $ - $ - $ - $98,255,272.25 $98,255,272.25
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)
3RD PARTY INTERCOMPANY TOTAL -------------------------------------------------- Beginning of month balance $ 5,528,060.86 $ 5,249,191.98 $ 10,777,252.84 Add: sales on account** $ 21,625.00 $ - $ 21,625.00 Add: intercompany activity Expenses paid directly by Parent or Affiliate $ (21,625.00) $ 21,625.00 $ - Net cash advanced by Parent or Affiliate $ - $ - $ - Credit extended by Parent or Affiliate $ - $ - $ - Amounts collected on behalf of Affiliate $ - $ - $ - Less: payments $ - $ - $ - -------------------------------------------------- End of month balance $ 5,528,060.86 $ 5,270,816.98 $ 10,798,877.84 ==================================================
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total - --------- ---------- ---------- ------------ ------------------ $ - $ - $ - $ 5,528,060.86 $ 5,528,060.86
*Accounts receivable balances represent gross amounts due from former customers. The vast majority of these balances are either being pursued via collection litigation or are claims against the former customers' bankruptcy estates. Thus, it is highly likely that a significant amount of the gross accounts receivable will not be collected. **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 the report date, the Debtor has been invoiced cumulative post-petition disputed amounts totalling $2,663,816. OPERATING REPORT Page 4 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: Facilicom International, L.L.C. CASE NUMBER: 01-14643-SPS For the Month Ending: April 30, 2004 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 5 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. -------------------------------- For the Debtor In Possession Henry C. Lyon Designated Officer OPERATING REPORT Page 6 EX-99.5 6 g89557exv99w5.txt EX-99.5 MONTHLY OPERATING REPORT/WORLDXCHANGE COMM IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: WorldxChange Communications CASE NUMBER: 01-14637-SPS SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS For the Month Ending: April 30, 2004 BEGINNING BALANCE IN ALL ACCOUNTS $3,295,105.70 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 (Paid by Parent or Affiliate) a. Rent or mortgage payment(s) $ - b. Utilities $ - c. Insurance $ - d. Merchandise bought for manufacture or sell $ - e. Other necessary expenses Clearing of previously voided checks $ - U.S. Trustee Fees $ - Computer Access/Hosting Services $ - ------------- TOTAL DISBURSEMENTS $ - Less: Disbursements by Parent or Affiliate $ - ------------- ADJUSTED TOTAL DISBURSEMENTS $ - ------------- NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $ - NET INTERCOMPANY SWEEP TRANSFERS - WAXS $ - ------------- ENDING BALANCE IN WxC/WAXS $ 110,913.25 ENDING BALANCE IN B of A Checking $3,184,192.45 ------------- ENDING BALANCE $3,295,105.70 =============
OPERATING REPORT Page 1 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: WorldxChange Communications CASE NUMBER: 01-14637-SPS For the Month Ending: April 30, 2004 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 Imperial Premium Finance Monthly 8,798.52 - - Storage West Self Storage Monthly 209.00 See Note 1 27.87 Storage West Self Storage Monthly 99.00 See Note 1 13.20 Associated Storage Monthly 2,149.98 See Note 1 286.66 Bay 602 Corporation Monthly 9,817.39 See Note 1 1,308.99 Reynolds Family Properties Monthly 4,448.00 See Note 1 593.07 Reynolds Family Properties Monthly 23,792.49 See Note 1 3,172.33 Doral Plaza Associates Monthly 9,660.00 See Note 1 1,288.00 Colonial Parking Monthly 378.00 See Note 1 50.40 23223 Bryan St. Limited Partnership Monthly 16,941.16 See Note 1 2,258.82 Central Parking Systems Monthly 700.00 See Note 1 93.33 Currie Samuelson Monthly 1,200.00 See Note 1 160.00 Currie Samuelson Monthly 34,516.00 See Note 1 4,602.13 Downtown Properties Monthly 10,850.00 See Note 1 1,446.67 Hudson Telegraph Monthly 12,206.25 See Note 1 1,627.50 Okada International Monthly 2,601.03 See Note 1 346.80 One Wilshire Arcade Imp. Monthly 6,147.03 See Note 1 819.60 Rockrose Development Monthly 2,848.25 See Note 1 379.77 Scripps Ranch Landscape Monthly 1,000.00 See Note 1 133.33 Pacific Guardian Center Monthly 4,707.32 See Note 1 627.64 Wells Fargo Financial Leasing Co. Monthly 279.88 - - Newcourt Leasing Monthly 1,871.90 - - Greater San Diego Air Monthly 2,246.00 See Note 1 299.47 Finova Loan Admin. Inc Monthly 11,825.07 See Note 1 1,576.68 CIT Group Monthly 8,117.96 - - Dana Commercial Credit Monthly 14,734.93 See Note 1 1,964.66 Danka Financial Services Monthly 16,705.50 - - Danka Financial Services Monthly 378.16 See Note 2 428.58 Data Sales Co., Inc Monthly 58,663.13 See Note 1 7,821.75 IBM Corporation Monthly 56,452.32 - - Advanta Leasing Services Monthly 1,374.62 - - Premier Computer Sales Monthly 7,151.17 See Note 1 953.49 Siemens Credit LTD Monthly 45,360.11 See Note 2 51,408.12 Telogy, Inc. Monthly 6,482.29 See Note 1 864.31 Telecommunications Finance Group Monthly 1,013,115.84 See Note 2 1,148,197.95 Union Bank of CA., N.A. Monthly 61,133.27 See Note 1 8,151.10
Note 1: Debtor may be liable for prorated obligation from June 1, 2001 through June 4, 2001 in the event I-Link does not assume contract. Note 2: Debtor has not paid the monthly payment for May 2001. In addition, Debtor may be liable for prorated obligation from June 1, 2001 through June 4, 2001 in the event I-Link does not assume contract. OPERATING REPORT Page 2 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: WorldxChange Communications CASE NUMBER: 01-14637-SPS For the Month Ending: April 30, 2004 STATEMENT OF AGED RECEIVABLES
ACCOUNTS RECEIVABLE 3RD PARTY INTERCOMPANY TOTAL --------------------------------------------- Beginning of month balance $ - $ 2,402,758.04 $ 2,402,758.04 Add: Receipts by parent/affiliates $ - $ - $ - Add: customer credits $ - $ - $ - Add: intercompany activity $ - $ - $ - Less: collections $ - $ - $ - Less: offsets $ - $ - $ - Less: application of customer deposits $ - $ - $ - Less: sale of receivables to I-Link $ - $ - $ - --------------------------------------------- End of month balance $ - $ 2,402,758.04 $ 2,402,758.04 =============================================
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total - --------- ---------- ---------- ------------ ------------------ $ - $ - $ - $ - $ -
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)**
3RD PARTY INTERCOMPANY TOTAL ------------------------------------------------- Beginning of month balance $ 8,701,417.24 $ 6,267,168.73 $ 14,968,585.97 Add: sales on account** $ - $ - $ - Add: collections on behalf of I-Link $ - $ - $ - Add: intercompany activity Expenses paid directly by Parent or Affiliate $ - $ - $ - Net cash advanced by Parent $ - $ - $ - Credit extended by Parent or Affiliate $ - $ - $ - Amounts collected by Parent $ - $ - $ - Less: Invoicing to I-Link $ - $ - $ - Less: remittances to I-Link $ - $ - $ - Less: payments $ - $ - $ - ------------------------------------------------- End of month balance $ 8,701,417.24 $ 6,267,168.73 $ 14,968,585.97 =================================================
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total - --------- ---------- ---------- ------------ ------------------ $ - $ - $ - $ 8,701,417.24 $8,701,417.24
** 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 the date of this report, the Debtor has been invoiced cumulative post-petition disputed amounts totalling $1,804,912. OPERATING REPORT Page 3 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHER DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: WorldxChange Communications CASE NUMBER: 01-14637-SPS For the Month Ending: April 30, 2004 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 4 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. -------------------------------- For the Debtor In Possession Henry C. Lyon Designated Officer OPERATING REPORT Page 5 -----END PRIVACY-ENHANCED MESSAGE-----