EX-99.1 2 efc10-108_ex991.htm efc10-108_ex991.htm
UNITED STATES BANKRUPTCY COURT
Exhibit 99.1
NORTHERN DISTRICT OF GEORGIA
  
NEWNAN DIVISION
  
               
               
     
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CASE NUMBER
    
     
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02-10835
  
     
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The NewPower Company, et. al.
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JUDGE
W. Homer Drake, Jr.
  
     
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DEBTORS
    
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CHAPTER 11
    
               
               
DEBTOR’S MONTHLY FINANCIAL REPORTS (BUSINESS)
    
               
FOR THE PERIOD
    
               
11/30/2009 to 12/31/2009
    
               
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 November 30, 2009  to December 31, 2009
    
       
Opening Cash Balance -11/30/09
 $             584
    
       
Inflows:
      
Customer Collections
      
Collateral Returned
      
    -Sureties
      
    -Security  Deposits
      
Sale Proceeds/Interest Income/Other
1
    
Total Inflows
1
    
   
Distribution of Outflows
Outflows:
  
NewPower
The NewPower
Post Petition:
  
Holdings, Inc.
Company
     
 
Professionals - Bankruptcy
 
  
Consulting Fees
 
 
  
Lockbox Fees
 
 
  
Supplies & Misc
0
0
  
Rent
1
1
  
Insurance
 
 
  
Utilities (Heat, Hydro, Phone, etc.)
0
0
  
Payroll (inlcuding tax payments & fees)
10
10
  
T&E Reimbursements
      
State Tax Payments
 
 
  
Distribution to Equity
      
Total Outflows
11
11
 
       
Net Cash Flows
(10)
    
       
Closing Cash Balance
 $                574
    
 
 
 
 
Attachment 1
 
 
NewPower Holdings, Inc.
          
Case Number: 02-10835
          
Monthly Accounts Receivable Aging and Reconciliation
      
For Period from November 30, 2009 to December 31, 2009
      
Amounts in $000’s
          
           
           
Accounts Receivable at Petition Date:
$ 
75,200
        
           
           
Beginning of Month Balance*  - Gross
$ 
13,476
  (per 11/30/09 G/L)
    
PLUS:  Current Month New Billings
             -
        
LESS:  Collections During the Month
             -
        
           
End of Month Balance - Gross
$ 
   13,476 
  (per 12/31/09 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 November 30, 2009 to December 31, 2009
      
Amounts in $000’s
          
           
           
See attached System Generated A/P reports as of 12/31/2009 (Attachments 2A and 2B).
           
           
Beginning of Period Balance
 $ 
        56
  (per 11/30/09 G/L)
    
PLUS:  New Indebtedness Incurred
        1
        
LESS:  Amounts Paid on A/P
         (1
 )      
           
End of Month Balance
 $ 
         56
  (per 12/31/09 G/L)
    
 
 
 
 
Exhibit 2A
 
The New Power Company
Vendor Balance Detail
As of December 31, 2009
 


     
Type
  
Date
  
Amount
  
Balance
 
AT&T
              
0.00
     
Bill
  
12/17/2009
  
10.60
  
10.60
     
Bill Pmt -Check
12/18/2009
  
-10.60
  
0.00
 
Total AT&T
          
0.00
  
0.00
 
Iron Mountain Off-Sire Data Protection
        
0.00
     
Bill
  
12/17/2009
  
588.81
  
588.81
     
Bill Pmt -Check
12/18/2009
  
-588.81
  
0.00
 
Total Iron Mountain Off-Site Data Protection
    
0.00
  
0.00
 
Kaster Moving Co. Inc.
            
0.00
     
Bill
  
12/17/2009
  
82.50
  
82.50
     
Bill Pmt -Check
12/18/2009
  
-82.50
  
0.00
 
Total Kaster Moving Co. Inc.
      
0.00
  
0.00
 
Ms. Patricia Foster
          
0.00
     
Bill
  
12/19/2009
  
450.00
  
450.00
     
Bill Pmt -Check
12/19/2009
  
-450.00
  
0.00
 
Total Ms. Patricia Foster
      
0.00
  
0.00
TOTAL
            
0.00
  
0.00
                   

 
Exhibit 2B
 
The New Power Company
Unpaid Vendor Balances
December 31, 2009
 
 
   
Balance
     
     
Franchise Tax Liability
  
55,465.82
Payroll Tax Liablility
  
  2,009.00
   
57,474.82
 
 
 
 
 
Attachment 3
 
 
NewPower Holdings, Inc.
            
Case Number: 02-10835
            
Inventory and Fixed Assets Report
            
For Period from November 30, 2009 to December 31, 2009
        
Amounts in $000’s
            
             
Inventory Report
            
             
Inventory Balance at Petition Date
$ 
  15,587
          
             
             
Inventory at Beginning of Period
$ 
           -
  (per 11/30/09 G/L)
      
PLUS:  Inventory Purchased
            -
          
LESS:  Inventory Used or Sold
            -
          
             
End of Month Balance
 $ 
           -
  (per 12/31/09 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 8 of 16
 
 

Name of Debtor :
  
NewPower Holdings Inc.
  
Case # :
   02-10835  
Reporting Period:
  
12/01/2009-12/31/2009
  
           
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
   $   39,122.17    
Total Deposits
  
$
 1,100.66
 
Total Payments
   $  9,542.95
Includes transfer to Manual Checking of
Closing Balance
   $ 30,679.88    
 
          
           
Electronic Payments issued this Period
  
EP114
Last Payment issued this Period
  
EP116
Total # of payments this Period
  
3
 
 
 
 
Attachment 4
Page 9 of 16
 
 

 
Name of Debtor :
NewPower Holdings Inc.
        
Case # :
02-10835
          
Reporting Period:
12/01/2009-12/31/2009
        
             
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
$           546,714.87
          
Total Deposits
$                    69.41
Interest Income
        
Total Payments
$               1,080.04
Payroll Taxes
Closing Balance
$           545,704.24
          
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 10 of 16
 
 
Name of Debtor :
NewPower Holdings Inc.
  
Case # :
02-10835
    
Reporting Period:
12/01/2009-12/31/2009
  
       
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
$8,859.74
    Transfer from Concentration
Total Payments
($8,859.74
 )  
Closing Balance
$0.00
   
Service Charges
N/A
    
       
First Check issued this Period
202284
  
Last Check issued this Period
202289
  
Voided Checks
     4  
Total # of checks issued this Period
2
  
 
 
 
Exhibit 5
 
The New Power Company
Transactions by Account
As of December 31, 2009
 


   
Type
  
Date
  
Amount
AT&T
            
   
Bill
  
12/17/2009
  
10.60
   
Bill Pmt -Check
12/18/2009
  
-10.60
Total AT&T
          
0.00
Iron Mountain Off-Sire Data Protection
      
   
Bill
  
12/17/2009
  
588.81
   
Bill Pmt -Check
12/18/2009
  
-588.81
Total Iron Mountain Off-Site Data Protection
    
0.00
Kaster Moving Co. Inc.
          
   
Bill
  
12/17/2009
  
82.50
 
 
Attachment 6
 
 
 
NewPower Holdings, Inc.
            
Case Number: 02-10835
            
 
     Balance        
 
       
       
Franchise Tax Liability
  
55,465.82
  
Payroll Tax Liability
  
2,009.00
  
    57,474.82  
       
       
Taxes Owed and Due
      
       
Payroll Tax Liability
  
2.0
  
       
 
 
 
 
Attachment 7A
 
NewPower Holdings, Inc.
                
Case Number: 02-10835
                
Type
   Date     Num    Name    Amount
                 
Liability Check   12/11/2009   wire   United States Treasury    1,080.04
Liability Check    12/11/2009   201289   CT Commissioner of Reven    504.16
Paycheck
   12/15/2009   dir dep   M. Patricia Foster    3,952.79
Bill Pmt - Check   12/18/2009   EP14   AT&T    10.60
Bill Pmt - Check
   12/18/2009   EP15   Iron Mountain Off-Site Data    588.81
Bill Pmt - Check   12/18/2009   EP16   Kaster Moving Co. Inc.    82.50
Bill Pmt - Check
   12/19/2009   201286   Ms. Patricia Foster    450.00
Paycheck
 
12/31/2009
   dir dep   M. Patricia Foster    3,952.79
 
  
 
            10,621.69
                 
                 
# 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
                
 
 
 
 
Attachment 7B
(Supplemental)
 
Payments made to insiders 12/01/09 - 12/31/2009
Payments are in gross amts
          
             
 
Title
  
Amount
  
Date
Type
             
M. Patricia Foster
President & CEO
   $ 5,208.33  
12/15/2009 
Salary for pay period 12-01 - 12/15
      $ 5,208.33  
12/31/2009 
Salary for pay period 12-16 - 12/31
               
               
      $ 10,416.67      
 
 
 
Attachment 8
 
NewPower Holdings, Inc.
Case Number: 02-10835
Significant Developments During Reporting Period
0
 
none