efc7-2216_5949395rom8k.htm

0000905148-07-005932.txt : 20070906 0000905148-07-005932.hdr.sgml : 20070906 20070906120936 ACCESSION NUMBER: 0000905148-07-005932 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070904 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070906 DATE AS OF CHANGE: 20070906 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NEWPOWER HOLDINGS INC CENTRAL INDEX KEY: 0001119307 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 522208601 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16157 FILM NUMBER: 071101977 BUSINESS ADDRESS: STREET 1: NEWPOWER HOLDINGS, INC. STREET 2: ONE MANHATTANVILLE RD., 3RD FLOOR CITY: PURCHASE STATE: NY ZIP: 10577-2100 BUSINESS PHONE: 914-697-2444 MAIL ADDRESS: STREET 1: NEWPOWER HOLDINGS, INC. STREET 2: ONE MANHATTANVILLE RD., 3RD FLOOR CITY: PURCHASE STATE: NY ZIP: 10577-2100 FORMER COMPANY: FORMER CONFORMED NAME: TNPC INC DATE OF NAME CHANGE: 20000713 8-K 1 efc7-2216_5949395rom8k.htm FORM 8-K efc7-2216_5949395rom8k.htm

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) September 4, 2007

NewPower Holdings, Inc.

(Exact Name of Registrant as Specified in Its Charter)

Delaware	1-16157	52-2208601
(State or Other Jurisdiction	(Commission	(IRS Employer
of Incorporation)	File Number)	Identification No.)


P.O. Box 17296, Stamford CT		06907
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (203) 329-8412

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR240.14a-12(b))

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events.

As previously reported, on August 15, 2003, the United States Bankruptcy Court for the Northern District of Georgia, Newnan Division (the “Bankruptcy Court”) confirmed the Second Amended Chapter 11 Plan (the “Plan”) with respect to NewPower Holdings, Inc. (the “Company”) and TNPC Holdings, Inc. (“TNPC”), a wholly owned subsidiary of the Company. As previously reported, on February 28, 2003, the Bankruptcy Court previously confirmed the Plan, and the Plan has been effective as of March 11, 2003, with respect to The New Power Company, a wholly owned subsidiary of the Company. The Plan became effective on October 9, 2003 with respect to the Company and TNPC.

The Company filed its monthly operating report for the period of June 30, 2007-July 31, 2007 (the “July Monthly Operating Report”) with the Bankruptcy Court on September 4, 2007. A copy of the July Monthly Operating Report is attached to this report as Exhibit 99.1 and incorporated in this report by reference.*

THE JULY MONTHLY OPERATING REPORT CONTAINS INFORMATION THAT HAS NOT BEEN AUDITED OR REVIEWED BY INDEPENDENT ACCOUNTANTS, HAS NOT BEEN PRESENTED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, AND MAY BE SUBJECT TO FUTURE RECONCILIATION AND ADJUSTMENTS.

The Company cautions readers not to place undue reliance upon the information contained in the July Monthly Operating Report, which contains unaudited information, and is in a format prescribed by the applicable bankruptcy laws. There can be no assurance that the June Monthly Operating Report is complete. The July Monthly Operating Report also contains information for periods which may be shorter or otherwise different from those contained in the Company’s reports pursuant to the Securities Exchange Act of 1934, as amended.

*Certain attachments to the July Monthly Operating Report are not included as part of Exhibit 99.1, but are available at the office of the U.S. Trustee and the Bankruptcy Court. In addition, the Company undertakes to furnish a copy of any such omitted attachment to the Commission upon its request.

Cautionary Statement

This disclosure contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties and may differ materially from actual future events or results. Although we believe that our expectations and beliefs are based on reasonable assumptions, we can give no assurance that our goals will be achieved. The Company undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Item 9.01. Financial Statements and Exhibits

99.1 Monthly Operating Report for the period June 30, 2007-July 31, 2007.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: September 4, 2007

	NEWPOWER HOLDINGS, INC.

	By:	/s/ M. Patricia Foster
		Name M. Patricia Foster
		Title President & Chief Executive Officer

EXHIBIT INDEX

The following exhibit is filed herewith:

Exhibit No. Description

99.1 Monthly Operating Report for the period June 30, 2007-July 31, 2007.

EX-99.1 2 efc7-2216_ex991.htm EXHIBIT 99.1 efc7-2216_ex991.htm

Exhibit 99.1

UNITED STATES BANKRUPTCY COURT
NORTHERN DISTRICT OF GEORGIA
NEWNAN DIVISION


IN RE:	}	CASE NUMBER
	}	02-10835
	}
The NewPower Company, et. al.	}	JUDGE	W. Homer Drake, Jr.
	}
DEBTORS	}	CHAPTER 11


DEBTOR'S MONTHLY FINANCIAL REPORTS (BUSINESS)

FOR THE PERIOD

FROM 6/30/2007 to 7/31/2007

Comes now the above-named debtor and files its Periodic Financial Reports in accordance
with the Guidelines established by the United States Trustee and FRBP 2015.


		Paul Ferdinands
		Attorney for Debtor

Debtor's Address		Attorney's Address
and Phone Number		and Phone Number

P.O. Box 17296		191 Peachtree St.
Stamford, Ct 06907		Atlanta, GA 30303
Tel: (203) 329-8412		Tel: (404) 572-4600

NewPower Holdings, Inc.
Case Number: 02-10835	Post Petition
	Totals
For Period from June 30,2007 - July 31, 2007

Opening Cash Balance -5/31/07	$ 1,784

Inflows:
Customer Collections
Collateral Returned
-Sureties
-Security Deposits
Sale Proceeds/Interest Income/Other	5
Total Inflows	5
		Distribution of Outflows
Outflows:		NewPower	The NewPower
Post Petition:		Holdings, Inc.	Company

Professionals - Bankruptcy	5	5
Consulting Fees
Lockbox Fees
Supplies & Misc
Rent
Insurance
Utilities (Heat, Hydro, Phone, etc.)	0	0
Payroll (inlcuding tax payments & fees)	61	61
T&E Reimbursements
State Tax Payments
Distribution to Equity
Total Outflows	66	66

Net Cash Flows	(62)

Closing Cash Balance	$ 1,722

Amount of Cash Balance in Reserve for
Classes 8 -12

Attachment 1

NewPower Holdings, Inc.
Case Number: 02-10835
Monthly Accounts Receivable Aging and Reconciliation
For Period from June 30,2007 - July 31, 2007
Amounts in $000's


Accounts Receivable at Petition Date:	$	75,200


Beginning of Month Balance* - Gross	$	13,476		(per 6/30/07 G/L)
PLUS: Current Month New Billings		-
LESS: Collections During the Month		-

End of Month Balance - Gross	$	13,476		(per 7/31/07 G/L)
Allowance for Doubtful Accounts		(13,476	)

End of Month Balance - Net of Allowance	$	-

Note:	The accounts receivable aging below relates only to deliveries to
	customers subsequent to the June 11, 2002 petition date.



	AR Aging for Post Petition Receivables

	Current			> 30 days	> 60 days	Total

	$	-		$ -	$ 111	$ 111

Attachment 2

NewPower Holdings, Inc.
Case Number: 02-10835
Monthly Accounts Payable and Secured Payments Report
For Period from June 30,2007 - July 31, 2007
Amounts in $000's


See attached System Generated A/P reports as of 7/31/2007 (Attachments 2A and 2B).


Beginning of Period Balance	$	60		(per 6/30/07 G/L)
PLUS: New Indebtedness Incurred		55
LESS: Amounts Paid on A/P& taxes		(32	)

End of Month Balance	$	83		(per 7/31/07 G/L)

	The New Power Company	Exhibit 2A
	Vendor Balance Detail
	As of July 31, 2007

	Type	Date	Num	Amount	Balance
Archivesone					0.00
	Bill	07/30/2007	July	494.34	494.34
	Bill Pmt -Check	07/30/2007	201101	-494.34	0.00
Total Archivesone				0.00	0.00
AT&T					0.00
	Bill	07/30/2007	2033298412082July	108.22	108.22
	Bill Pmt -Check	07/30/2007	201097	-108.22	0.00
Total AT&T				0.00	0.00
epiq Systems					0.00
	Bill	07/30/2007	168758	416.43	416.43
	Bill Pmt -Check	07/30/2007	201098	-416.43	0.00
Total epiq Systems				0.00	0.00
Kaster Moving Co. Inc.					0.00
	Bill	07/30/2007	July	532.80	532.80
	Bill Pmt -Check	07/30/2007	201100	-532.80	0.00
Total Kaster Moving Co. Inc.				0.00	0.00
Mellon Investors Services, LLC					0.00
	Bill	07/19/2007		0.00	0.00
Total Mellon Investors Services, LLC				0.00	0.00
U.S. Trustee Program Payment Center					0.00
	Bill	07/30/2007	323-02-10836 Q2 07	3,250.00	3,250.00
	Bill Pmt -Check	07/30/2007	201099	-3,250.00	0.00
Total U.S. Trustee Program Payment Center				0.00	0.00
				0.00	0.00

Page 1 of 1

	The New Power Company	Exhibit 2B
	Unpaid Vendor Detail
	As of June 30, 2007

Name				Balance


Franchise Tax Liability				55,465.00
Payroll Tax Liablility				27,981.79
				83,446.79

Page 1 of 1

Attachment 3

NewPower Holdings, Inc.
Case Number: 02-10835
Inventroy and Fixed Assets Report
For Period from June 30,2007 - July 31, 2007
Amounts in $000's

Inventory Report

Inventory Balance at Petition Date	$	15,587


Inventory at Beginning of Period	$	-	(per 6/30/07 G/L)
PLUS: Inventrory Purchased		-
LESS: Inventory Used or Sold		-

End of Month Balance	$	-	(per 7/31/07 G/L)


Inventory is generally costed at the lower of cost or market. By the end of July 2002 we had sold
all of our gas inventory either to retail customers or financial buyers as part of our asset sales.

Fixed Asset Report

Book Value at Petition Date	$	1,238

Our fixed assets at petition date consisted of office furniture and equipment. These assets
were transferred to our lessor in June 2002 as part of the settlement of our lease obligation.

Fixed Assets at Beginning of Period	$	-
Less: Depreciation Expense		-
Less: Dispositions		-
Add: Purchases		-

Fixed Assets at End of Period	$	-

Attachment 4

Page 1 of 16

Name of Debtor :	NewPower Holdings Inc.
Case # :	02-10835
Reporting Period:	7/01/2007-7/31/2007

Name of Bank:	JP Morgan Chase
Branch:	New York ABA # 021000021
Account Name:	The New Power Company Concentration Account
Account Number:
Purpose of Account:	Concentration Account

Beginning Balance	$	649,354.63
Total Deposits	$	2,613.26
Total Payments	$	62,343.71
Closing Balance	$	589,624.18
Service Charges	$	153.98

First Check issued this Period			N/A
Last Check issued this Period			N/A
Total # of checks issued this Period			N/A

Attachment 4

Page 2 of 16

Name of Debtor :	NewPower Holdings Inc.
Case # :	02-10835
Reporting Period:	7/01/2007-7/31/2007

Name of Bank:	JP Morgan Chase
Branch:	New York ABA # 021000021
Account Name:	The New Power Company
Account Number:
Purpose of Account:	Money Market

Beginning Balance	$	1,155,044.10
Total Deposits	$	1,987.26	Interest Income
Total Payments	$	3,945.74	Payroll Taxes
Closing Balance	$	1,153,085.62
Service Charges	$	-

First Check issued this Period			N/A
Last Check issued this Period			N/A
Total # of checks issued this Period			N/A

Attachment 4

Page 3 of 16

Name of Debtor :	NewPower Holdings Inc.
Case # :	02-10835
Reporting Period:	7/01/2007-7/31/2007

Name of Bank:	JP Morgan Chase
Branch:	Syracuse, NY
Account Name:	The New Power Company
Account Number:
Purpose of Account:	Controlled Disbursements (A/P)

Beginning Balance	$0.00
Total Deposits	$62,189.73
Total Payments	$62,189.73
Closing Balance	$0.00
Service Charges	N/A

First Check issued this Period		201093
Last Check issued this Period		201101
Total # of checks issued this Period		9

Attachment 4

Page 4 of 16

Name of Debtor :	NewPower Holdings Inc.
Case # :	02-10835
Reporting Period:	7/01/2007-7/31/2007

Name of Bank:	JP Morgan Chase
Branch:	New York ABA # 021000021
Account Name:	The New Power Company Reserve Account
Account Number:
Purpose of Account:	Reserve for Shareholder Distributions












	ACCOUNT CLOSED

Attachment 4

Page 5 of 16

Name of Debtor :	NewPower Holdings Inc.
Case # :	02-10835
Reporting Period:	7/01/2007-7/31/2007

Name of Bank:	JP Morgan Chase
Branch:	Syracuse, NY
Account Name:	NewPower Holdings, Inc. - Refund Disbursement A/C
Account Number:
Purpose of Account:	Controlled Disbursements (Customer Refunds)

Beginning Balance	$0.00
Total Deposits	$0.00
Total Payments	$0.00
Closing Balance	$0.00
Service Charges	N/A

First Check issued this Period		NA
Last Check issued this Period		NA
Total # of checks issued this Period		NA


	ACCOUNT CLOSED

Attachment 4

Page 6 of 16

Name of Debtor :	NewPower Holdings Inc.
Case # :	02-10835
Reporting Period:	7/01/2007-7/31/2007

Name of Bank:	JP Morgan Chase
Branch:	New York ABA # 021000021
Account Name:	NewPower ACH Account
Account Number:
Purpose of Account:	ACH (T&E)

Beginning Balance	$0.00
Total Deposits	$0.00
Total Payments	$0.00
Closing Balance	$0.00
Service Charges	N/A

First Check issued this Period		N/A
Last Check issued this Period		N/A
Total # of checks issued this Period		N/A


	ACCOUNT CLOSED

Attachment 4

Page 7 of 16

Name of Debtor:	NewPower Holdings Inc.
Case#:	02-10835
Reporting Period:	7/01/2007-7/31 /2007

Name of Bank:	First Union/ Wachovia
Branch:	Herndon, VA ABA # 051400549
Account Name:	The New Power Company
Account Number:
Purpose of Account:	Natural Gas Collections

Beginning Balance	$0.00
Total Deposits	$0.00
Total Payments	$0.00
Closing Balance	$0.00
Service Charges	N/A

First Check issued this Period		N/A
Last Check issued this Period		N/A
Total # of checks issued this Period		N/A


	ACCOUNT CLOSED

Attachment 4

Page 8 of 16

Name of Debtor :	NewPower Holdings Inc.
Case # :	02-10835
Reporting Period:	7/01/2007-7/31/2007

Name of Bank:	First Union/ Wachovia
Branch:	Charlotte, NC ABA # 053000219
Account Name:	The New Power Company
Account Number:
Purpose of Account:	Power/ IBM Collections

Beginning Balance	$0.00
Total Deposits	$0.00
Total Payments	$0.00
Closing Balance	$0.00
Service Charges	$0.00

First Check issued this Period		N/A
Last Check issued this Period		N/A
Total # of checks issued this Period		N/A


	ACCOUNT CLOSED

Attachment 4

Page 9 of 16

Name of Debtor:	NewPower Holdings Inc.
Case #:	02-10835
Reporting Period:	7/01/2007-7/31/2007

Name of Bank:	JP Morgan Chase
Branch:	New York ABA # 021000021
Account Name:	NewPower Holdings, Inc. - Payroll Account
Account Number:
Purpose of Account:	Payroll

Beginning Balance	$0.00
Total Deposits	$0.00
Total Payments	$0.00
Closing Balance	$0.00
Service Charges	N/A

First Check issued this Period		N/A
Last Check issued this Period		N/A
Total # of checks issued this Period		N/A


	ACCOUNT CLOSED

Attachment 4

Page 10 of 16

Name of Debtor :	NewPower Holdings Inc.
Case # :	02-10835
Reporting Period:	7/01/2007-7/31/2007

Name of Bank:	JP Morgan Chase
Branch:	New York ABA # 021000021
Account Name:	NewPower Enron Segregated A/C
Account Number:
Purpose of Account:	Concentration Account

Beginning Balance	$0.00
Total Deposits	$0.00
Total Payments	$0.00
Closing Balance	$0.00
Service Charges	N/A

First Check issued this Period		N/A
Last Check issued this Period		N/A
Total # of checks issued this Period		N/A


	ACCOUNT CLOSED

Attachment 4

Page 11 of 16

Name of Debtor :	NewPower Holdings Inc.
Case # :	02-10835
Reporting Period:	7/01/2007-7/31/2007

Name of Bank:	Royal Bank of Canada
Branch:	Ontario Transit # 00192
Account Name:	The New Power Company
Account Number:
Purpose of Account:	CAN$ Operating A/C

Beginning Balance	$0.00	CAN$
Total Deposits
Total Payments	$0.00
Closing Balance	$0.00
Service Charges	$ -

First Check issued this Period		NA
Last Check issued this Period		NA
Total # of checks issued this Period		0


	ACCOUNT CLOSED

Attachment 4

Page 12 of 16

Name of Debtor:	NewPower Holdings Inc.
Case #:	02-10835
Reporting Period:	7/01/2007-7/31/2007

Name of Bank:	First Union/ Wachovia
Branch:	Charlotte, NC ABA # 053000219
Account Name:	The New Power Company
Account Number:
Purpose of Account:	Power/AES Collections

Beginning Balance	$0.00
Total Deposits	$0.00
Total Payments	$0.00
Closing Balance	$0.00
Service Charges	N/A

First Check issued this Period		N/A
Last Check issued this Period		N/A
Total # of checks issued this Period		N/A


	ACCOUNT CLOSED

Attachment 4

Page 13 of 16

Name of Debtor:	NewPower Holdings Inc.
Case # :	02-10835
Reporting Period:	7/01/2007-7/31/2007

Name of Bank:	Royal Bank of Canada
Branch:	Ontario Transit # 00192
Account Name:	The New Power Company
Account Number:
Purpose of Account:	US$ A/C

Beginning Balance	$0.00
Total Deposits	$0.00
Total Payments	$0.00
Closing Balance	$0.00
Service Charges	N/A

First Check issued this Period		N/A
Last Check issued this Period		N/A
Total # of checks issued this Period		N/A


	ACCOUNT CLOSED

Attachment 4

Page 14 of 16

Name of Debtor:	NewPower Holdings Inc.
Case # :	02-10835
Reporting Period:	7/01/2007-7/31/2007

Name of Bank:	JP Morgan Chase
Branch:	New York ABA # 021000021
Account Name:	The New Power Company
Account Number:
Purpose of Account:	WildCard ATM Settlement

Beginning Balance	$0.00
Total Deposits	$0.00
Total Payments	$0.00
Closing Balance	$0.00
Service Charges	N/A

First Check issued this Period		N/A
Last Check issued this Period		N/A
Total # of checks issued this Period		N/A


	ACCOUNT CLOSED

Attachment 4

Page 15 of 16

Name of Debtor :	NewPower Holdings Inc.
Case # :	02-10835
Reporting Period:	7/01/2007-7/31/2007

Name of Bank:	JP Morgan Chase
Branch:	Syracuse, NY
Account Name:	NewPower Holdings, Inc.
Account Number:
Purpose of Account:	Controlled Disbursements (A/P)

Beginning Balance	$0.00
Total Deposits	$0.00
Total Payments	$0.00
Closing Balance	$0.00
Service Charges	N/A

First Check issued this Period		None
Last Check issued this Period		None
Total # of checks issued this Period		None


	ACCOUNT CLOSED

Attachment 4

Page 16 of 16

Name of Debtor :	NewPower Holdings Inc.
Case # :	02-10835
Reporting Period:	7/01/2007-7/31/2007

Name of Bank:	Credit Suisse Asset Management
Branch:	466 Lexington Ave. NY, NY 10017-3140
Account Name:	NewPower Holdings, Inc.
Account Number:
Purpose of Account:	Short Term Cash Mgmt Portfolio

Beginning Balance	$0.00
Total Deposits	$0.00
Total Payments	$0.00
Closing Balance	$0.00
Service Charges	N/A

First Check issued this Period		N/A
Last Check issued this Period		N/A
Total # of checks issued this Period		N/A


	ACCOUNT CLOSED

	The New Power Company	Exhibit 5
	Check Detail
	July 2007

Num	Date	Name	Paid Amount

201093	07/12/2007	CT Commissioner of Revenue Services	504.16
wire	07/11/2007	United States Treasury	3,945.76
201094	07/13/2007	M. Patricia Foster	3,381.82
201095	07/19/2007	M. Patricia Foster - Final Bonus Net of Taxes	28,774.16
201096	07/30/2007	M. Patricia Foster	3,381.81
201097	07/30/2007	AT&T	108.22
201098	07/30/2007	epiq Systems	416.43
201099	07/30/2007	U.S. Trustee Program Payment Center	3,250.00
201100	07/30/2007	Kaster Moving Co. Inc.	532.80
201101	07/30/2007	Archivesone	494.34

Page 1 of 1

Attachment 6

NewPower Holdings, Inc.
Case Number: 02-10835
Monthly Tax Report
For Period from June 30, 2007 - July 31, 2007
Amounts in $000's

Taxes Paid During the Month


Employment Taxes		3.9




Taxes Owed and Due

Payroll Tax Liability		27.9

Attachment 7A

NewPower Holdings, Inc.
Case Number: 02-10835
Summary of Officer Compensation / Summary of Personnel and Insurance Coverages
For Period from June 30, 2007 - July 31, 2007
Amounts in $000's


Summary of Officer Compensation

See supplemental attachment.

Personnel Report
	Full Time	Part Time
# of Employees at beginning of period		1
# hired during the period	-	-
# terminated/resigned during period	-	-
# employees on payroll - end of period	0	1

# of employees on temporary consulting assignments		0

Confirmation of Insurance

See supplemental attachment.*

*Omitted

	Payments made to insiders 6/01/07 - 6/30/07	Attachment 7B
		(Supplemental)

Payments are in gross amts

	Title	Amount		Date	Type

FOSTER, MARY	President & CEO	$	5,208.33	7/13/2007	Salary for pay period 6/01 -6/15
		$	50,000.00	7/19/2007	Final Bonus Payment upon Dissolution
		$	5,208.33	7/30/2007	Salary for pay period 6/16 -6/31


		$	60,416.67

Attachment 8

NewPower Holdings, Inc.

Case Number: 02-10835

Significant Developments During Reporting Period

For Period from June 30, 2007 - July 31, 2007