EX-99.2 3 g90540exv99w2.txt EX-99.2 MONTHLY OPERATING REPORTS OF WA TELCOM PRODUCTS CO., INC. 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: June 30, 2004
BEGINNING BALANCE IN ALL ACCOUNTS $ 10,102,974.52 RECEIPTS: 1. Receipts from Operations $ - Receipts from Operations (Received by Parent) $ - 2. Other Receipts $ 7,419.60 Other receipts (Received by Parent or Affiliates) $ - --------------- TOTAL RECEIPTS $ 7,419.60 Less: Receipts received by Parent or Affiliates $ - --------------- ADJUSTED TOTAL RECEIPTS $ 7,419.60 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) $ 9,266.67 b. Utilities $ - c. Insurance $ - d. Merchandise bought for manufacture or sell $ - e. Other necessary expenses Office Supplies & Expenses $ 205.44 Other $ 45.00 --------------- TOTAL DISBURSEMENTS $ 9,517.11 Less: Disbursements made by Parent or Affiliates $ (9,517.11) --------------- ADJUSTED TOTAL DISBURSEMENTS $ - --------------- NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $ 7,419.60 NET INTERCOMPANY SWEEPS/TRANSFERS - World Access, Inc. $ - --------------- ENDING BALANCE IN Deustch Bank - S/T Investment 206-21130 $ 10,110,394.12 --------------- ENDING BALANCE IN ALL ACCOUNTS $ 10,110,394.12 ===============
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: June 30, 2004 Bank: Deutsche Bank Alex. Brown Location: Baltimore, MD Account Name: Investment Account Account Number: 206-21130
DATE RECEIVED DESCRIPTION AMOUNT ------------- ----------- ------ 6/30/2004 Interest Received $ 7,419.60 ---------- Total WATP Receipts $ 7,419.60 ==========
OPERATING REPORT Page 2 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: June 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: June 30, 2004 STATEMENT OF AGED RECEIVABLES
ACCOUNTS RECEIVABLE 3RD PARTY INTERCOMPANY TOTAL --------------- --------------- --------------- Beginning of month balance $ 13,137,814.57 $ 20,948,877.89 $ 34,086,692.46 Add: sales on account $ - $ - $ - expenses paid for affiliate $ - $ - $ - cash advanced to affiliate $ - $ - $ - Less: collections $ - $ - $ - --------------- --------------- --------------- End of month balance $ 13,137,814.57 $ 20,948,877.89 $ 34,086,692.46 =============== =============== ===============
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total --------- ---------- ---------- ------------ ------------------ $ - $ - $ - $13,137,814.57 $ 13,137,814.57
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)
3RD PARTY INTERCOMPANY TOTAL --------------- --------------- --------------- Beginning of month balance $ 7,043.23 $ 1,056,981.86 $ 1,064,025.09 Add: sales on account $ 9,517.11 $ - $ 9,517.11 Cash received on behalf of Affiliate $ - $ - $ - Cash received from Affiliate $ - $ - $ - Less: payments $ (9,517.11) $ 9,517.11 $ - --------------- --------------- --------------- End of month balance $ 7,043.23 $ 1,066,498.97 $ 1,073,542.20 =============== =============== ===============
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total --------- ---------- ---------- ------------ ------------------ $ - $ - $ - $ 7,043.23 $ 7,043.23
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: June 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, Michael F. Mies, 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 Michael F. Mies Designated Officer OPERATING REPORT Page 6