Florida
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0-30831
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65-0953505
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(State or other jurisdiction of
incorporation)
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(Commission File
Number)
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(I.R.S. Employer Identification
No.)
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|
a.
|
Income Statement for the month in question;
|
|
b.
|
Year to Date Income Statement through the month in question;
|
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c.
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Balance Sheet as of the end of the month in question;
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d.
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Trade Accounts Payable Aging as of the end of the month in question; and
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e.
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Trade Accounts Receivable Aging as of the end of the month in question.
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CAPITAL GROWTH SYSTEMS, INC.
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By:
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/s/ James G. Butala
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James G. Butala
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Chief Administrative Officer
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For the month ended
August 31, 2011
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||||
REVENUES
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$ | 0 | ||
COST OF REVENUES
|
0 | |||
GROSS MARGIN
|
0 | |||
OPERATING EXPENSES
|
||||
Compensation
|
20,000 | |||
Travel and entertainment
|
2,088 | |||
Occupancy
|
0 | |||
Professional services
|
16,618 | |||
Insurance
|
295,562 | |||
Bad Debt Expense
|
0 | |||
Depreciation & Amortization
|
0 | |||
Restructuring Expenses
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0 | |||
Other expense (Income)
|
$ | 186,951 | ||
TOTAL OPERATING EXPENSES
|
521,219 | |||
OPERATING INCOME (LOSS)
|
(521,219 | ) | ||
Interest Expense (Income)
|
- | |||
(Gain) Loss on Sale and Abandonment of Assets and Liabilities
|
(37,337,950 | ) | ||
Income Tax Expense
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0 | |||
NET INCOME (LOSS)
|
$ | 36,816,731 |
For the eight-month
period ended August 31,
2011
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||||
REVENUES
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$ | 19,787,589 | ||
COST OF REVENUES
|
14,744,883 | |||
GROSS MARGIN
|
5,042,706 | |||
OPERATING EXPENSES
|
||||
Compensation
|
3,847,392 | |||
Travel and entertainment
|
381,810 | |||
Occupancy
|
787,017 | |||
Professional services
|
434,190 | |||
Insurance
|
428,897 | |||
Bad Debt Expense
|
82,931 | |||
Depreciation & Amortization
|
911,617 | |||
Restructuring Expenses
|
1,294,863 | |||
Other Expense (Income)
|
$ | (77,188 | ) | |
TOTAL OPERATING EXPENSES
|
8,091,529 | |||
OPERATING INCOME (LOSS)
|
(3,048,823 | ) | ||
Interest Expense
|
6,468,809 | |||
(Gain) Loss on Sale and Abandonment of Assets and Liabilities
|
(72,681,072 | ) | ||
Income Tax Expense
|
90,454 | |||
NET INCOME (LOSS)
|
$ | 63,072,986 |
August 31, 2011
|
||||
ASSETS
|
||||
CURRENT ASSETS
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||||
Cash
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$ | 1,375,521 | ||
Accounts Receivable, net
|
0 | |||
Other Current Assets
|
0 | |||
Total Current Assets
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1,375,521 | |||
Fixed Assets, gross
|
0 | |||
Accumulated Depreciation
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- | |||
Fixed Assets, net
|
0 | |||
Other Assets
|
0 | |||
Intangible Assets
|
0 | |||
Goodwill
|
0 | |||
TOTAL ASSETS
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$ | 1,375,521 | ||
LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)
|
||||
CURRENT LIABILITIES
|
||||
Current maturities of long-term debt
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$ | 0 | ||
Post-Petition Accounts Payable
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1,339,081 | |||
Pre-Petition Accounts Payable
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0 | |||
Post-Petition Accrued Expenses
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58,601 | |||
Pre-Petition Accrued Expenses
|
0 | |||
Deferred Revenue
|
0 | |||
Total Current Liabilities
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1,397,682 | |||
Long-term debt
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0 | |||
Taxes
|
0 | |||
Total Liabilities
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1,397,682 | |||
SHAREHOLDERS' EQUITY (DEFICIT)
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||||
Common stock
|
17,015 | |||
Additional Paid in Capital
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62,636,508 | |||
Retained Earnings, beginning of year
|
(125,359,811 | ) | ||
Cumulative (gain) loss on currency translation
|
(388,859 | ) | ||
Current Year Retained Earnings Inc/Loss
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63,072,986 | |||
Total Equity
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(22,161 | ) | ||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)
|
$ | 1,375,521 |
Case No.
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10-12302 PJW
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Current
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31-60
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61-90
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Over 90
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Total
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||||||||||||||||
Total Trade Accounts Payable
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$ | 0 | $ | 0 | $ | 0 | $ | 1,339,079 | $ | 1,339,079 |
Case No.
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10-12302 PJW
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Current
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1-30 Days
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31 - 60 Days
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61+
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Total
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||||||||||||||||
Total Trade Accounts Receivables
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$ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 |