EX-99.1 3 dex991.txt MONTHLY OPERATING REPORT Exhibit 99.1 UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF CALIFORNIA In re: AB Liquidating Corp. Case No. 01-53685 ASW 2055 Gateway Place, Suite 400 ------------------ San Jose, CA 95110 CHAPTER 11 MONTHLY OPERATING REPORT (GENERAL BUSINESS CASE) SUMMARY OF FINANCIAL STATUS MONTH ENDED: 11/30/01 (1) PETITION DATE: 07/26/01 ------------- -------------- 1. Debtor in possession (or trustee) hereby submits this Monthly Operating Report on the Accrual Basis of accounting (or if checked here the Office of the U.S. Trustee or the Court has approved the Cash Basis of Accounting for the Debtor). Dollars reported in $1 --
2. Asset and Liability Structure End of Current End of Prior As of Petition Month Month Filing ----- ----- ------ a. Current Assets $33,405,775 $31,256,675 ------------------ ------------------- b. Total Assets $34,574,602 $56,342,522 $57,984,978 ------------------ ------------------- -------------------- c. Current Liabilities $ 826,038 $ 789,475 ------------------ ------------------- d. Total Liabilities $29,198,980 $29,162,417 $28,398,051 ------------------ ------------------- -------------------- Cumulative 3. Statement of Cash Receipts & Disbursements for Month Prior Month (Case to Date) ----------- -------------------- a. Total Receipts $ 6,625,916 $ 88,668 $ 7,236,557 ------------------ ------------------- -------------------- b. Total Disbursements $ 337,641 $ 433,234 $ 1,562,838 ------------------------------------------ -------------------- c. Excess (Deficiency) of Receipts Over Disbursements (a - b) $ 6,288,275 ($344,566) $ 5,673,719 ------------------------------------------ -------------------- d. Cash Balance Beginning of Month $25,967,425 $26,311,991 $26,867,358 ------------------ ------------------- -------------------- e. Cash Balance End of Month (c + d) $32,255,700 $25,967,425 $32,255,700 ------------------ ------------------- -------------------- Cumulative Current Month Prior Month (Case to Date) ------------------ ------------------- -------------------- 4. Profit/(Loss) from the Statement of Operations N/A N/A N/A ------------------ ------------------- -------------------- 5. Account Receivables (Pre and Post Petition) $ 0 $ 272,878 ------------------ ------------------- 6. Post-Petition Liabilities $ 826,038 $ 739,475 ------------------ ------------------- 7. Past Due Post-Petition Account Payables (over 30 days) $ 0 $ 0 ------------------ ------------------- At the end of this reporting month: Yes No --- -- 8. Have any payments been made on pre-petition debt, other than payments in X the normal course to secured creditors or lessors? (if yes, attach ------------------- -------------------- listing including date of payment, amount of payment and name of payee) 9. Have any payments been made to professionals? (if yes, attach listing including date of payment, amount of payment and name of payee) X ------------------- -------------------- 10. If the answer is yes to 8 or 9, were all such payments approved by the court? N/A N/A ------------------- -------------------- 11. Have any payments been made to officers, insiders, shareholders, relatives? (if yes, attach listing including date of payment, amount and reason for payment, and name of payee) X ------------------- -------------------- 12. Is the estate insured for replacement cost of assets and for general liability? X ------------------- -------------------- 13. Are a plan and disclosure statement on file? X ------------------- -------------------- 14. Was there any post-petition borrowing during this reporting period? X ------------------- -------------------- 15. Check if paid: Post-petition taxes X ; U.S. Trustee Quarterly Fees X ; ---- --- Check if filing is current for: Post-petition tax reporting and tax returns: X . ----- (Attach explanation, if post-petition taxes or U.S. Trustee Quarterly Fees are not paid current or if post-petition tax reporting and tax return filings are not current.)
I declare under penalty of perjury I have reviewed the above summary and attached financial statements, and after making reasonable inquiry believe these documents are correct. Date: 01/15/02 /s/ Daniel L. Scharre ---------------------- --------------------------------------- Responsible Individual - Daniel Scharre (1) Adaptive Broadband typically utilizes a fiscal calendar (a 4-week month, 4-week month, 5-week month) that does not necessarily correspond with Calendar month-end dates. However, this Monthly Operating Report reflects an end-date consistent with the Calendar month-end in order to reflect the sale of substantially all of the Debtor's assets that closed on 11/2/01. BALANCE SHEET (General Business Case) For the Month Ended 11/30/01 --------
Assets From Schedules Market Value -------------- ------------ Current Assets 1 Cash and cash equivalents - unrestricted $26,952,680 ----------------------- 2 Cash and cash equivalents - restricted $ 5,303,020 ----------------------- 3 Accounts receivable (net) A $ 0 ----------------------- 4 Inventory B $ 0 ----------------------- 5 Prepaid expenses (See Note I) $ 587,772 ----------------------- 6 Professional retainers (estimate only) $ 550,000 ----------------------- 7 Other: Interest Income Receivable $ 12,303 --------------------------------------------- _____________________________________________________ ----------------------- 8 9 Total Current Assets $33,405,775 ----------------------- Property and Equipment (Market Value) 10 Real property C $ 0 ----------------------- 11 Machinery & Equipment D $ 1,289 ----------------------- 12 Furniture and fixtures D $ 0 ----------------------- 13 Office equipment D $ 0 ----------------------- 14 Leasehold improvements D $ 0 ----------------------- 15 Computer, Hardware & Software D $ 138,401 ----------------------- 16 Other: D _______________________________________________________ ----------------------- 17 D ______________________________________________________________ ----------------------- 18 D ______________________________________________________________ ----------------------- 19 D ______________________________________________________________ ----------------------- 20 D ______________________________________________________________ ----------------------- 21 Total Property and Equipment $ 139,690 ----------------------- Other Assets 22 Loans to shareholders 23 Loans to affiliates - Secured $ 0 ----------------------- 24 Loans to affiliates (net) - unsecured $ 0 -------------------------------------------------------------- ----------------------- 25 Notes Receivables $ 1,029,137 -------------------------------------------------------------- ----------------------- 26 Security Deposits (See Note II) $ 0 -------------------------------------------------------------- ----------------------- 27 ______________________________________________________________ ----------------------- 28 Total Other Assets $ 1,029,137 ----------------------- 29 Total Assets $33,574,602 =======================
NOTE: At the guidance of the US Trustee, the Debtor is presenting its assets at cost value less accumulated depreciation, if any. Liabilities and Equity (General Business Case) Liabilities From Schedules Post-Petition Current Liabilities 30 Salaries and Wages (including Contract Labor) ----------------------- 31 Payroll taxes ----------------------- 32 Real and personal property taxes ----------------------- 33 Income taxes ----------------------- 34 Sales taxes ----------------------- 35 Notes payable (short term) ----------------------- 36 Accounts payable (trade) A $ 26,038 ----------------------- 37 Real property lease arrearage ----------------------- 38 Personal property lease arrearage ----------------------- 39 Accrued professional fees (estimate only) $ 800,000 ----------------------- 40 Current portion of long-term post-petition debt (due within 12 months) ----------------------- 41 Other: ___________________________________________ ----------------------- 42 ______________________________________________________ ----------------------- ______________________________________________________ ----------------------- 43 ______________________________________________________ ----------------------- 44 Total Current Liabilities $ 826,038 ----------------------- 45 Long-Term Post-Petition Debt, Net of Current Portion ----------------------- 46 Total Post-Petition Liabilities $ 826,038 ----------------------- Pre-Petition Liabilities (allowed amount) 47 Secured claims F $ 0 ----------------------- 48 Priority unsecured claims F $ 159,165 ----------------------- 49 General unsecured claims F $ 28,213,777 ----------------------- 50 Total Pre-Petition Liabilities $ 28,372,942 ----------------------- 51 Total Liabilities $ 29,198,980 ----------------------- Equity (Deficit) 52 Retained Earnings/(Deficit) at time of filing ($131,091,067) ----------------------- 53 Capital Stock $ 3,777,628 ----------------------- 54 Additional paid-in capital $ 157,920,727 ----------------------- 55 Cumulative profit/(loss) since filing of case ($25,231,666) ----------------------- 56 Post-petition contributions/(distributions) or (draws) $ 0 ----------------------- 57 ______________________________________________________ ----------------------- 58 Market value adjustment $ 0 ----------------------- 59 Total Equity (Deficit) $ 5,375,622 ----------------------- 60 Total Liabilities and Equity (Deficit) $ 34,574,602 =======================
AB Liquidating Corp. Debtor-In-Possession Footnotes to Balance Sheet November 2001 MOR NOTES: ----- Accounts Receivable -- All Accounts Receivable, totaling $272,878 in the ------------------- Debtor's books, were sold effective 11/2/2001. Property and Equipment -- The Debtor's Property and Equipment has been written ---------------------- down by $3,859,391 to reflect the sale of the Debtor's assets on 11/2/2001. Inventory -- All Inventory totaling $3,562,945 in the Debtor's books were sold --------- effective 11/2/2001. Note I--> A portion of the Prepaid Expenses previously shown in the Debtor's books were sold effective 11/2/2001. The remainder includes Prepaid Insurance ($116,000) and expected Sales Tax Refunds ($472,000). Note II--> A portion of the Security Deposits were transferred as part of the sale of the Debtor's assets on 11/2/2001; the remainder has been written off the Debtor's books as uncollectible. SCHEDULES TO THE BALANCE SHEET (General Business Case) Schedule A Accounts Receivable and (Net) Payable
Receivables and Payables Agings Accounts Receivable Accounts Payable Past Due [Pre and Post Petition] [Post Petition] Post Petition Debt --------------------- ------------- ------------------ 0 -30 Days $0 $26,038 ----------------------- ------------------ 31-60 Days $0 $ 0 ----------------------- ------------------ 61-90 Days $0 $ 0 $ 0 ----------------------- ------------------ ------------------- 91+ Days $0 $ 0 ----------------------- ------------------ Total accounts receivable/payable $0 $26,038 ----------------------- ================== Allowance for doubtful accounts $0 ----------------------- Accounts receivable (net) $0 ======================= Schedule B Inventory/Cost of Goods Sold Types and Amount of Inventory(ies) Cost of Goods Sold --------------------------------- ------------------ Inventory(ies) Balance at End of Month Inventory Beginning of Month $ 3,562,945 ------------ ------------------ Add - Retail/Restaurants - Net Purchase __________________ Product for resale _______________ Direct labor __________________ Manufacturing overhead __________________ Freight in __________________ Other: __________________ Distribution - Products for resale _______________ _______________________________________________ __________________ _______________________________________________ __________________ Manufacturer - Raw Materials $0 --------------- Work-in-progress $0 Less - --------------- Finished goods $0 Inventory End of Month $ 0 --------------- ------------------ Shrinkage __________________ Inventory Write-Down Provision $0 Personal Use __________________ --------------- _______________________________ Cost of Goods Sold $ 3,562,945 _______________________________ ================== TOTAL $0 =============== Method of Inventory Control Inventory Valuation Methods Do you have a functioning perpetual inventory system? Indicate by a checkmark method of inventory used. Yes X No_______ ------ How often do you take a complete physical inventory? Valuation methods - FIFO cost ___ Weekly _______ LIFO cost ___ Monthly _______ Lower of cost or market X --- Quarterly X Retail method ___ ------- ___ Semi-annually _______ Other ___ Annually _______ Explain ___ Date of last physical inventory was 07/13/01 --------------- _________________________________________________________________________ _________________________________________________________________________ Date of next physical inventory is N/A --------------- _________________________________________________________________________
AB Liquidating Corp. Debtor-In-Possession Footnotes PG1 November 2001 MOR NOTES: ----- Accounts Payable -- The amount shown is current as of 11/30/2001. ----------------
Schedule C Real Property Description Cost Market Value ---- ------------ N/A N/A N/A ------------------------------------------- -------------------- ----------------------- ------------------------------------------- -------------------- ----------------------- ------------------------------------------- -------------------- ----------------------- ------------------------------------------- -------------------- ----------------------- ------------------------------------------- -------------------- ----------------------- ------------------------------------------- -------------------- ----------------------- Total $ 0 $ 0 ==================== ======================= Schedule D Other Depreciable Assets Description Cost Market Value ---- ------------ Machinery & Equipment - $ 1,289 $ 1,289 ------------------------------------------- -------------------- ----------------------- ------------------------------------------- -------------------- ----------------------- ------------------------------------------- -------------------- ----------------------- ------------------------------------------- -------------------- ----------------------- Total $ 1,289 $ 1,289 ==================== ======================= Furniture & Fixtures - $ 0 $ 0 ------------------------------------------- -------------------- ----------------------- ------------------------------------------- -------------------- ----------------------- ------------------------------------------- -------------------- ----------------------- ------------------------------------------- -------------------- ----------------------- Total $ 0 $ 0 ==================== ======================= Office Equipment - ------------------------------------------- -------------------- ----------------------- ------------------------------------------- -------------------- ----------------------- ------------------------------------------- -------------------- ----------------------- Total $ 0 $ 0 ==================== ======================= Leasehold Improvements - $ 0 $ 0 ------------------------------------------- -------------------- ----------------------- ------------------------------------------- -------------------- ----------------------- ------------------------------------------- -------------------- ----------------------- ------------------------------------------- -------------------- ----------------------- Total $ 0 $ 0 ==================== ======================= Computer, Hardware & Software (1) Computer Equipment, Software, Firewall Servers, etc. $138,401 $138,401 ------------------------------------------- -------------------- ----------------------- ------------------------------------------- -------------------- ----------------------- ------------------------------------------- -------------------- ----------------------- ------------------------------------------- -------------------- ----------------------- Total $138,401 $138,401 ==================== =======================
NOTE: ---- On November 2, 2001, substantially all of the Debtor's assets were sold. The Debtor's Property and Equipment has been written down by $3,859,391 to reflect the sale. The Debtor's remaining Property and Equipment include servers, routers, and software. Schedule E Aging of Post-Petition Taxes (As of End of the Current Reporting Period)
Taxes Payable 0-30 Days 31-60 Days 61-90 Days 91+ Days Total --------- ---------- ---------- -------- ----- Federal Income Tax Withholding $0 ---------------- ----------------- --------------- --------------- -------------- FICA - Employee $0 ---------------- ----------------- --------------- --------------- -------------- FICA - Employer $0 ---------------- ----------------- --------------- --------------- -------------- Unemployment (FUTA) $0 ---------------- ----------------- --------------- --------------- -------------- Income $0 ---------------- ----------------- --------------- --------------- -------------- Other (Attach List) $0 ---------------- ----------------- --------------- --------------- -------------- Total Federal Taxes $0 ---------------- ----------------- --------------- --------------- -------------- State and Local Income Tax Withholding $0 ---------------- ----------------- --------------- --------------- -------------- Unemployment (UT) $0 ---------------- ----------------- --------------- --------------- -------------- Disability Insurance (DI) $0 ---------------- ----------------- --------------- --------------- -------------- Empl. Training Tax (ETT) $0 ---------------- ----------------- --------------- --------------- -------------- Sales $0 ---------------- ----------------- --------------- --------------- -------------- Excise $0 ---------------- ----------------- --------------- --------------- -------------- Real property $0 ---------------- ----------------- --------------- --------------- -------------- Personal property $0 ---------------- ----------------- --------------- --------------- -------------- Income $0 ---------------- ----------------- --------------- --------------- -------------- Other (Attach List) $0 ---------------- ---------------- -------------- -------------- ------------- Total State & Local Taxes $0 $0 $0 $0 $0 ---------------- ---------------- -------------- -------------- ------------- Total Taxes $0 $0 $0 $0 $0 ================ ================ ============== ============== =============
Schedule F Pre-Petition Liabilities Claimed Allowed List Total Claims For Each Classification Amount Amount ----------------------------------------- Secured claims $ 0 $ 0 ----------- ----------- Priority claims other than taxes $ 159,165 $ 159,165 ----------- ----------- Priority tax claims $ 0 $ 0 ----------- ----------- General unsecured claims $28,213,777 $28,213,777 ----------- ----------- See Attached Schedule F Footnotes Schedule G Rental Income Information Not applicable to General Business Cases Schedule H Recapitulation of Funds Held at End of Month
Account 1 Account 2 Account 3 Account 4 Account 5 --------- --------- --------- --------- --------- Bank Bank of America Union Bank Merrill Lynch Union Bank Reliance Trust ---------------- ----------------- -------------- ------------ --------------- Account Type Debtor In Poss Business Checking Money Market CD (Note 2) Deferred Comp. ---------------- ----------------- -------------- ------------ --------------- Account No. 12339-36178 6450148642 318-3251209-0 6459018252 150209526 ---------------- ----------------- -------------- ------------ --------------- Account Purpose Operations Tied to the CD Savings Savings SEDCP ---------------- ----------------- -------------- ------------ --------------- Balance, End of Month $16,855,195 $6,336 $10,097,485 $1,393,054 $3,903,630 ---------------- ----------------- -------------- ------------ --------------- Total Funds on Hand for all Accounts $32,255,700 ================ Bank Account Type Account No. Account Purpose Balance, End of Month
Note 1: Attached are copies of bank statement(s) & reconciliation(s). ------ Note 2: Regarding Union Bank's CD above, there is a $1M note that AMB Property ------- drew on and fees totaling $35.8K. Schedule E - Footnotes ---------------------- a) All post-petition taxes have been paid. Schedule F - Footnotes ---------------------- a) Pre-petition claims are presented as best represented in Adaptive Broadband's books and records. The `claimed' and `allowed' amounts of such claims have, in most cases, not yet been determined. Some claims included in `general unsecured claims' are stated at their potential gross amounts owed, although the `allowed' amount of these claims could face limitations - as stipulated by the U.S. Bankruptcy Code. b) Adaptive Broadband is in the process of completing its analysis of claims in this case and reserves the right to object to all claims scheduled or otherwise listed. c) A number of claims were scheduled with the Bankruptcy Court as contingent, unliquidated, or disputed. For many of these items, a value was undeterminable at the time scheduled with the Court - and is currently undeterminable. As a result, these items are not included in the claim totals listed in Schedule F above. d) Adaptive Broadband has provided a value for contingent, unliquidated or disputed claims when information was available for a reasonable estimation. Included in estimated contingent claims as part of the `general unsecured claims' above are the following: $2.5MM for a potential warranty claim with Comtech Telecommunications, $2MM for a contingent settlement agreement with Northrop Grumman, and $14.8MM relating to Solectron Corporation. e) `Priority claims other than taxes' represents Adaptive Broadband's best estimate as to those employee claims eligible for priority status. The Company is currently reviewing these amounts and will continue to make any necessary adjustments to the allocation between priority and non-priority status, if warranted. f) General unsecured claims includes approximately $132K in pre-petition taxes. Adaptive Broadband is attempting to identify which, if any, amounts owing to taxing authorities are eligible for priority status. g) Adaptive Broadband Corporation has rejected three real property leases during the post-petition period. The Company is currently in the process of estimating the potential damage claim, if any, afforded to the landlords of these properties as may be allowed under the U.S. Bankruptcy Code. No such estimate is included in the `general unsecured claims' listed above. STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS Increase/(Decrease) in Cash and Cash Equivalents For the Month Ended 11/30/01 -------------
Actual Cumulative Current Month (Case to Date) ------------- -------------- Cash Receipts 1 Rent/Leases Collected -------------------- ------------------- 2 Cash Received from Sales $ 6,461,990 $ 6,783,815 -------------------- ------------------- 3 Interest Received $ 91,000 $ 294,816 -------------------- ------------------- 4 Borrowings -------------------- ------------------- 5 Funds from Shareholders, Partners, or Other Insiders -------------------- ------------------- 6 Capital Contributions -------------------- ------------------- 7 Vendor Refunds & Misc. Receipts $ 72,926 $ 107,926 ------------------------------------------------------------------- -------------------- ------------------- 8 Sale of Furniture @ old leased building $ 0 $ 50,000 ------------------------------------------------------------------- -------------------- ------------------- 9 ------------------------------------------------------------------- -------------------- ------------------- 10 ------------------------------------------------------------------- -------------------- ------------------- 11 ------------------------------------------------------------------- -------------------- ------------------- 12 Total Cash Receipts $ 6,625,916 $ 7,236,557 -------------------- ------------------- Cash Disbursements 13 Special Payroll Charges $ 2,078 $ 2,078 -------------------- ------------------- 14 Bonuses (Retention) $ 134,091 $ 134,091 -------------------- ------------------- 15 G&A/Misc. $ 13,692 $ 63,906 -------------------- ------------------- 16 Rent $ 22,812 $ 260,958 -------------------- ------------------- 17 Insurance Expenses $ 50,000 $ 74,035 -------------------- ------------------- 18 Bank Charges $ 4,000 $ 7,838 -------------------- ------------------- Rent/Lease: ------------------- 19 Storage Fees -------------------- ------------------- 20 Real Property -------------------- ------------------- Amount Paid for Compensation ------------------- 21 Salaries (Net) $ 41,294 $ 308,735 -------------------- ------------------- 22 Contract Labor $ 2,400 $ 53,942 -------------------- ------------------- 23 Payroll Processing Fees $ 947 $ 2,116 -------------------- ------------------- 24 Expense Reimbursements (Travel, Air & Misc.) $ 73 $ 16,018 -------------------- ------------------- 25 Other (Fringe) $ 4,676 $ 105,535 -------------------- ------------------- 26 Net Bonuses (EFT to the UK) $ 0 $ 64,183 -------------------- ------------------- 27 Postage/Office Expenses $ 10,780 $ 10,780 -------------------- ------------------- Taxes: ------------------- 28 Employee Withholding -------------------- ------------------- 29 Employer Payroll Taxes (Nov) $ 46,936 $ 258,629 -------------------- ------------------- 30 Real Property Taxes -------------------- ------------------- 31 Sales Taxes $ 67 $ 117 -------------------- ------------------- 32 Other Cash Outflows: -------------------- ------------------- 33 Travel & Meetings $ 0 $ 0 ------------------------------------------------------------- -------------------- ------------------- 34 Technology & Phone $ 3,796 $ 15,426 ------------------------------------------------------------- -------------------- ------------------- 35 Engineering & Operations $ 0 $ 1,325 ------------------------------------------------------------- -------------------- ------------------- 36 Professional Consulting Services $ 0 $ 100,253 ------------------------------------------------------------- -------------------- ------------------- 37 Moving Expenses $ 0 $ 42,126 ------------------------------------------------------------- -------------------- ------------------- 38 Disbursements of China Subsidiary $ 0 $ $40,748 ------------------------------------------------------------- -------------------- ------------------- 39 Total Cash Disbursements: $ 337,641 $ 1,562,838 -------------------- ------------------- 40 Net Increase (Decrease) in Cash $ 6,288,275 $ 5,673,719 -------------------- ------------------- 41 Cash Balance, Beginning of Period $25,967,425 $26,867,358 -------------------- ------------------- 42 Reconciling Adjustment $ 0 ($285,377) -------------------- ------------------- 43 Cash Balance, End of Period $32,255,700 $32,255,700 ==================== ===================
Reconciling adjustment is a result of the Debtor completing its monthly bank reconciliations. Consistent with what was reported in the October 2001 MOR, outstanding checks were contributing factors to the adjustment. AB Liquidating Corp. Tax Statement October 28, 2001 to November 30, 2001
Amount Remitted To Date Remitted To Amount Taxing Authority (3) Taxing Authority ----------------------- -------------------- ----------------- Gross Payroll & Payroll Taxes ----------------------------- Gross Payroll (1) $129,187 $0 Federal Taxes Withheld $35,532 $35,532 (3) State Taxes Withheld $6,869 $6,869 (3) Employer Taxes $4,536 $4,536 (3) Gross Sales ----------- Gross Sales (2) $6,541,054 $0
(1) Includes Retention Bonuses. (2) From sale of substantially all of the Debtor's operating assets. No sales taxes are due pursuant to 11 U.S.C. (S)1146(c). (3) Taxes are remitted by payroll processor contemporaneously with each payroll. Confidential Page 1 November 2001 Tax Schedule
G/L ACCOUNT: 11458 ACCOUNT ANALYSIS ACCOUNT NAME: Corp Debtor in Possession PREPARED BY: CASSANDRA JONES AS OF: November-01 ------------------------------------------------------------------------------------------------------------------------------------ BEG. BAL CASH IN CASH OUT END. BAL BAL per GL 295,114.78 79,063.24 (260,137.13) 114,040.89 - #1259 JERROLLD KOLLMAN/BONUS NOT TRANSMITTED TO A -12,764.57 (12,764.57) ADP PROCESSING FEES (48.11) (48.11) ADP PROCESSING FEES (381.88) (381.88) ADP PROCESSING FEES (624.87) (624.87) ADP PROCESSING FEES (264.00) (264.00) ADP PROCESSING FEES (91.93) (91.93) MOSLEY (SALE OF ASSETS) 6,461,989.55 6,461,989.55 Funds Sweep 149,871.30 (16,972,688.26) (16,822,816.96) Transfer 10,269,306.37 10,269,306.37 Wire-in Bank of China 15,563.10 15,563.10 Kollmann Jerrorld to reverse via JE 334.68 334.68 AON Consulting to be Added in A/P system (462.88) (462.88) MOHLER, NIXON & WIL (Voids cks that were on o/s ck list) 583.00 583.00 ROCHESTER GAS AND E (Voids cks that were on o/s ck list) 830.58 830.58 DEUTSCHE BANK (Voids cks that were on o/s ck list) 420.00 420.00 cleared as #1026 in Sep/removed from o/s in nov-01 3,795.00 3,795.00 cleared as #1107 in Sep/removed from o/s in nov-02 30.10 30.10 Erroneous ck entry Sirartoga Blancarte #1186 11-09-01 (needs to be reversed through A/P system) 960.00 960.00 1,980.00 1,980.00 Write off diff (0.50) (0.50) - Unreconciled item - ------------------------------------------------------------ ENDING GL ADJ 295,114.78 16,975,793.56 (17,238,530.77) 32,377.57 ============================================================ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ PER BANK 376169.98 16,961,169.60 (17,337,339.58) - 0.00 - AP-Outstanding Checks -53932.49 44,836.82 (9,095.67) PAYROLL-Outstanding Checks -12499.23 10,381.64 (2,117.59) 10/31-CA banking Center Deposit - for NOV. 01 period -14623.96 14,623.96 - - C. Jones Retention #1260 11-30-01 3,055.50 3,055.50 D. Scharre Retention #1264 11-30-01 40,495.57 40,495.57 Managed Health Network #1271 11-30-01 39.76 39.76 - - ------------------------------------------------------------ ENDING BANK BALANCE 295,114.30 16,975,793.56 (17,238,530.29) 32,377.57 ============================================================ ------------------------------------------------------------------------------------------------------------------------------------
CHECKS LISTING
NAME DESCRIPTION DATE CHECK NO. AMOUNT Source ---- ----------- ---- --------- ------ ------ ZHENG, XIAONAN EFT TRANSFER 11-20-01 CHINA REPRESENATIVE 11/20/01 EFT 7,692.00 A/P LUI, DIAN EFT TRANSFER 11-20-01 CHINA REPRESENATIVE 11/20/01 EFT 1,650.00 A/P ZHANG, YU EFT TRANSFER 11-20-01 CHINA REPRESENATIVE 11/20/01 EFT 865.00 A/P ADP ADP PROCESSING FEES 11/23/01 EFT 47.23 A/P 126,042.23 ADP ADP PAYROLL TAX 11/21/01 EFT 17,179.90 Payroll Nov-01 A/P Per Manual Log 126,042.23 Nov-01 A/P Per Quick Books (127,337.01) ------------ Difference -1,294.78 ============ CK # 1186 Sirarotoga Blancarte -960.00 CK # 1186 Jerrolld Kollmann -334.78 ------------ -1,294.78 Nov-01 payroll Per Manual Log 145,564.81 Nov-01 Payroll Per Quick Books (132,800.12) ------------ Difference 12,764.69 ============ CK # 1259 Jerrolld Kollmann 12,764.57 ------------ 12,764.57
OCTOBER 2001 - Payroll Outstanding Checks
CLEARED PRIOR NAME DESCRIPTION DATE CHECK NO. AMOUNT Source CLEARED BACKED OUT OUTSTANDING ---- ----------- ---- --------- ------ ------ ----------- JAY APOIAN Payroll PE 09-14-01 9/14/01 1074 1,247.93 Payroll 1,247.93 - HONGBIN SHEN Payroll P/E 09-28-01 9/27/01 1127 3,511.11 Payroll 3,511.11 - JAY APOIAN Payroll P/E 09-28-01 9/28/01 1129 1,247.93 Payroll 1,247.93 - ERIC BURKE Payroll P/E 09-28-01 9/28/01 1130 1,913.38 Payroll 1,913.38 - JERROLD KOLLMAN Payroll P/E 09-28-01 9/28/01 1132 4,975.47 Payroll 4,975.47 - PATTY MIAO Payroll P/E 09-28-01 9/28/01 1133 1,440.10 Payroll 1,440.10 - PETER MALONEY Payroll P/E 09-28-01 9/28/01 1134 5,396.85 Payroll 5,396.85 - ELIAS NADER Payroll P/E 09-28-01 9/28/01 1135 3,636.49 Payroll 3,636.49 - DANIEL SCHARRE Payroll P/E 09-28-01 9/28/01 1136 8,862.73 Payroll 8,862.73 - MARK SHUPE Payroll P/E 09-28-01 9/28/01 1137 3,259.59 Payroll 3,259.59 - IAN WALTERS Payroll P/E 09-28-01 9/28/01 1138 3,965.14 Payroll 3,965.14 0.00 SUMMER CANNON Payroll P/E 09-28-01 9/28/01 1140 1,479.90 Payroll 1,479.90 - ------------------------------------------------------ 40,936.62 40,936.62 0.00 ====================================================== JERROLD KOLLMAN Expense Reimbursement 10/12/01 1174 767.80 Expense 767.80 - ELIAS NADER Expense Reimbursement 10/12/01 1179 471.25 Expense 471.25 - DANIEL SCHARRE Expense Reimbursement 10/12/01 1181 401.64 Expense 401.64 - JERROLD KOLLMAN Payroll PE 10-12-01 10/12/01 1170 8,085.22 Payroll 8,085.22 - IAN WALTERS Payroll PE 10-12-01 10/12/01 1171 5,238.79 Payroll 5,238.79 - ERIC BURKE Payroll PE 10-12-01 10/12/01 1172 1,896.23 Payroll 1,896.23 - JAY APOIAN Payroll PE 10-12-01 10/12/01 1173 1,247.93 Payroll 1,247.93 - SUMMER CANNON Payroll PE 10-12-01 10/12/01 1175 1,523.51 Payroll 1,523.51 - CASSANDRA JONES Payroll PE 10-12-01 10/12/01 1176 1,765.85 Payroll 1,765.85 - PATTY MIAO Payroll PE 10-12-01 10/12/01 1177 1,440.10 Payroll 1,440.10 - ELIAS NADER Payroll PE 10-12-01 10/12/01 1179 3,729.54 Payroll 3,729.54 - DANIEL SCHARRE Payroll PE 10-12-01 10/12/01 1181 8,862.73 Payroll 8,862.73 - MARK SHUPE Payroll PE 10-12-01 10/12/01 1182 2,210.67 Payroll 2,210.67 - PETER MALONEY Payroll PE 10-12-01 10/12/01 1183 2,991.68 Payroll 2,991.68 - JAY APOIAN Payroll PE 10-12-01 10/12/01 1190 443.06 Payroll 443.06 - ERIC BURKE Payroll PE 10-12-01 10/12/01 1191 1,916.29 Payroll 1,916.29 - MARK SHUPE Payroll PE 10-19-01/Post PTO FINAL CHECK 10/19/01 1192 2,459,25 Payroll 2,459,25 - SUMMER CANNON Payroll PE 10-19-01/Post PTO FINAL CHECK 10/19/01 1007 1,099.73 Payroll 1,099.73 - CASSANDRA JONES Payroll PE 10-26-01 10/26/01 1008 1,745.01 Payroll 1,745.01 - PATTY MIAO Payroll PE 10-26-01 10/26/01 1009 1,440.10 Payroll 1,440.10 - ELIAS NADER Payroll PE 10-26-01 10/26/01 1010 3,636.49 Payroll 3,636.49 - DANIEL SCHARRE Payroll PE 10-26-01 10/26/01 1011 8,862.74 Payroll 8,862.74 - ------------------------------------------------------ 62,235.61 62,235.61 - ====================================================== Summer Cannon ADVANCE 11/1/01 1200 600.00 Payroll 600.00 - JAY APOIAN Retention Bonus 11/5/01 1209 3,197.16 Payroll 3,197.16 - IAN WALTERS Retention Bonus 11/6/01 1210 9,564.75 Payroll 9,564.75 - Summer Cannon Payroll PE 11-09-01/Final Check Post PTO 11/9/01 1211 2,117.59 Payroll 2,117.59 Summer Cannon Retention Bonus 11/7/01 1212 6,451.14 Payroll 6,451.14 - CASSANDRA JONES Retention Bonus 11/9/01 1213 3,395.05 Payroll 3,395.05 - PATTY MIAO Retention Bonus 11/9/01 1214 3,108.94 Payroll 3,108.94 - CASSANDRA JONES Payroll PE 11-09-01 11/9/01 1215 1,745.01 Payroll 1,745.01 - PATTY MIAO Payroll PE 11-09-01 11/9/01 1216 1,458.85 Payroll 1,458.85 - ELIAS NADER Payroll PE 11-09-01 11/9/01 1217 3,636.49 Payroll 3,636.49 - DANIEL SCHARRE Payroll PE 11-09-01 11/9/01 1218 9,018.57 Payroll 9,018.57 - ERIC BURKE Retention Bonus 11/9/01 1220 3,395.05 Payroll 3,395.05 - MARK SHUPE Retention Bonus 11/9/01 1221 4,786.97 Payroll 4,786.97 - ELIAS NADER Retention Bonus 11/9/01 1223 12,196.87 Payroll 12,196.87 - ADP Payroll Tax PE 11-09-01 11/8/01 EFT/wire 29,756.37 Payroll 29,756.37 - CASSANDRA JONES PAYPERIOD END 11-23-01 11/21/01 1249 1,745.01 Payroll 1,745.01 - PATTY MIAO PAYPERIOD END 11-23-01 11/21/01 1250 1,458.85 Payroll 1,458.85 - ELIAS NADER PAYPERIOD END 11-23-01 11/21/01 1251 3,636.49 Payroll 3,636.49 - DANIEL SCHARRE PAYPERIOD END 11-23-01/POST PTO PAYOUT 11/21/01 1252 14,351.18 Payroll 14,351.18 - JERROLLD KOLLMAN Retention Bonus 11/21/01 1259 12,764.57 Payroll 12,764.57 - ADP ADP PAYROLL TAX 11/21/01 EFT 17,179.90 Payroll - ------------------------------------------------------- 145,564.81 2,117.59 ======================================================= TOTAL OUTSTANDING 2,117.59 ==========
OCTOBER 2001 - AP Outstanding Checks CHECK# Date Supplier Name Description Payment Amount CLEARED ------ ------- ------------- ----------- -------------- --------- 13048 8/1/01 AMERICAN BUSINESS COMMUNIC Postage for 401k mailing 340.00 340.00 1045 27-Aug-01 EQUITY OFFICE SAN JOSE 3,795.00 3,795.00 1082 24-Sep-01 ALHAMBRA PASADENA 30.10 30.10 1088 24-Sep-01 NORTHEAST SOFTWARE NORTHCHELM 160.00 160.00 1090 24-Sep-01 SHRED-IT SAN JOSE MILPITAS 85.00 85.00 1091 24-Sep-01 SKYTEL ATLANTA 10.37 10.37 1094 24-Sep-01 NEW YORK STATE DEPT NEW YORK 50.00 50.00 1098 26-Sep-01 JIT TRANSPORTATION SAN JOSE 200.00 200.00 1099 28-Sep-01 SIRAROTOGA BLANCART SUNNYVALE 2,325.00 2,325.00 1100 28-Sep-01 ADP LOUISVILLE 47.00 47.00 1101 28-Sep-01 AON CONSULTING SF-FREMONT 1,765.63 1,765.63 1102 28-Sep-01 DELTA DENTAL SAN FRANCI 2,945.48 2,945.48 1103 28-Sep-01 DHL WORLDWIDE EXPRE PHOENIX 165.94 165.94 1104 28-Sep-01 FEDERAL EXPRESS MEMPHIS 44.04 44.04 1105 28-Sep-01 HOGLAND TRANSFER CO EVERETT 12,483.00 12,483.00 1106 28-Sep-01 KEMPER INSURANCE CO PASADENA 2,320.00 2,320.00 1107 28-Sep-01 MOHLER, NIXON & WIL CAMPBELL 583.00 1108 28-Sep-01 PACIFIC BELL SACRAMENTO 3,262.61 3,262.61 1109 28-Sep-01 ROCHESTER GAS AND E ROCHESTER 830.58 1110 28-Sep-01 STAR TEMPS INC. San Franci 4,662.00 4,662.00 1111 28-Sep-01 STERLING LOGISTICS BEDFORD PA 75.00 75.00 1112 28-Sep-01 TERMINIX SAN JOSE 70.00 70.00 1113 28-Sep-01 DEUTSCHE BANK NEW YORK 420.00 1114 28-Sep-01 HQ GLOBAL WORKPLACE SAN JOSE 10,655.96 10,655.96 1115 28-Sep-01 PRUDENTIAL SECURITI NEW YORK 1,127.87 1,127.87 1116 28-Sep-01 SALOMON SMITH BARNE NEW YORK 3,483.30 3,483.30 1117 28-Sep-01 UNITED PARCEL SERVI LOS ANGELE 430.94 430.94 #REF! 4-Oct-01 ACCOUNTANTS, INC. SAN FRANCISCO 5,940.00 5,940.00 #REF! 5-Oct-01 AON CONSULTING SF-FREMONT 108.15 108.15 #REF! 5-Oct-01 AT & T BUSINESS SERVICES PHOENIX 1,693.55 1,693.55 #REF! 5-Oct-01 AT & T WIRELESS, INC REDMOND 224.19 224.19 #REF! 5-Oct-01 MANAGED HEALTH NETWORK SAN FRANCISCO 68.16 68.16 #REF! 5-Oct-01 THE HARTFORD INSURANCE ATLANTA 16.25 16.25 #REF! 5-Oct-01 AT&T WIRELESS SERVICES SAN FRANCISCO 16.88 16.88 #REF! 5-Oct-01 EQUITY OFFICE SAN JOSE 725.00 725.00 #REF! 5-Oct-01 SHAREHOLDER.COM MAYNARD 26.15 26.15 1134 10-Oct-01 AON CONSULTING SF-FREMONT 4,672.51 4,672.51 1137 12-Oct-01 VISION SERVICE PLAN SAN FRANCISCO 23.93 23.93 1138 12-Oct-01 BEST SOFTWARE INC BALTIMORE 1,783.33 1,783.33 1139 12-Oct-01 DIVERSIFIED COMPUTER NEW ORLEAN 6,460.00 6,460.00 1140 12-Oct-01 SHAREHOLDER.COM MAYNARD 1,680.00 1,680.00 1141 19-Oct-01 SHUPE, MARK CHANDLER 1,511.92 1,511.92 1142 12-Oct-01 SIRAROTOGA BLANCARTE SUNNYVALE 2,190.00 2,190.00 1143 19-Oct-01 AON CONSULTING SF-FREMONT 96.15 96.15 1144 19-Oct-01 ARCUS DATA SECURITY DALLAS 284.00 284.00 1145 19-Oct-01 DELTA DENTAL SAN FRANCISCO 365.75 365.73 1146 19-Oct-01 IRON MOUNTAIN LOS ANGELES 108.00 108.00 1147 19-Oct-01 PACIFIC BELL VAN NUYS 137.28 137.28 1148 19-Oct-01 UNUM LIFE INS, OF A CHICAGO 1,271.43 1,271.43 1149 19-Oct-01 PIGGOTT, CHRISTOPHE PITTSFORD 1,000.00 1,000.00 1150 19-Oct-01 IN-HOUSE ATTORNEY'S LOS ANGELES 25,702.03 25,702.03 1151 19-Oct-01 U.S. TRUSTEE PAYMENT ATLANTA 3,750.00 3,750.00 1152 19-Oct-01 UNITED PARCEL SERVICE LOS ANGELES 14.15 14.15 ------------------------------------ 59,868.81 59,868.79 QUICKBOOKS - OCT 2001 1005 10/22/01 ACCOUNTANTS, INC 5,940.00 5,940.00 1006 10/26/01 S CANNON - advance 400.00 400.00 1012 10/24/01 SUPPORT CLEARING 140.82 140.82 1013 10/26/01 SCHARRE, DANIEL 234.75 234.75 CLEARED PRIOR CHECK# VOID OUTSTANDING ------ ------ ----------- 13048 - 1045 - cleared as #1026 in Sep/removed from o/s in nov-01 1082 - cleared as #1107 in Sep/removed from o/s in nov-02 1088 - cleared as #1115 1090 - cleared as #1117 1091 - cleared as #1118 1094 - cleared as #1122 1098 - cleared as #1126 1099 - cleared as #1128 1100 - cleared as #1140 1101 - cleared as #1141 1102 - cleared as #1142 1103 - cleared as #1143 1104 - cleared as #1144 1105 - cleared as #1145 1106 - cleared as #1146 1107 583.00 - Void 1108 - cleared as #1148 1109 830.58 - Void 1110 - cleared as #1150 1111 - cleared as #1151 1112 - cleared as #1152 1113 420.00 - Void 1114 - cleared as #1154 1115 - cleared as #1155 1116 - cleared as #1156 1117 - cleared as #1157 ----------- - =========== #REF! - cleared as #1160 #REF! - cleared as #1161 #REF! - cleared as #1162 #REF! - cleared as #1163 #REF! - cleared as #1164 #REF! - cleared as #1165 #REF! - cleared as #1166 #REF! - cleared as #1167 #REF! - cleared as #1168 1134 - cleared as #1169 1137 - cleared as #1186 1138 - cleared as #1187 1139 - cleared as #1188 1140 - cleared as #1189 1141 - cleared as #1193 1142 - cleared as #1184 1143 - cleared as #1194 1144 - cleared as #1195 1145 0.02 cleared as #1196 1146 - cleared as #1197 1147 - cleared as #1198 1148 - cleared as #1199 1149 - cleared as #1001 1150 - cleared as #1000 1151 - cleared as #1002 1152 - cleared as #1003 --------------------- - 0.02 - - - -
CHECK# Date Supplier Name Description Payment Account CLEARED -------- -------- ------------- ----------- --------------- --------- 10141 0/26/01 SIRAROTOGA BLANCARTE 1,980.00 1,980.00 10151 0/26/01 HOGLAND TRANSFER CO. 12,483.00 12,483.00 10161 0/26/01 IRON MOUNTAIN 4,295.21 4,295.21 10171 0/26/01 PACIFIC BELL 1,930.71 1,930.71 10181 0/26/01 HQ GLOBAL 7,977.29 7,977.29 10191 0/26/01 VERIZON 352.46 352.46 10211 0/26/01 AON CONSULTING 4,531.41 to print 10/26/01 SIRAROTOGA BLANCARTE 1,980.00 --------------- 42,245.65 35,734.24 Nov-01 Issues 1022 10/29/01 Sprint PCS 50% of Wireless billing $1,175.48 587.74 587.74 1023 10/29/01 FIIOC-Fidelity 401k Loan Repayments Jul-01 to Oct 01 1,096.77 1,096.77 1024 10/30/01 AON Risk Services Insurance Premium Directors & Officers Coverage 56,474.05 56,474.05 1201 11/2/01 ADP, INC. INV 186652 150.00 150.00 1202 11/2/01 JIT TRANSPORTATION INV 605582 10.00 10.00 1203 11/2/01 R.R. DONNELLEY INV 1201767100 540.00 540.00 1204 11/2/01 UNITED PARCEL SERVICE INV 100E3W421 14.15 14.15 1205 11/2/01 UNUM LIFE INSURANCE ACCT 05539930017 486.13 486.13 1206 11/2/01 VISION SERVICE PLAN - CA ACCT 121586050006 71.13 71.13 1207 11/2/01 STERLING LOGISTICS INV 17250 75.00 75.00 1208 11/2/01 THE DEPOSITORY TRUST CO. INV 146598 100.00 100.00 1219 11/9/01 SIRAROTOGA BLANCARTE INV#177 Period end 11-02-01 (Vacationing PE 11-09-01) 960.00 960.00 1224 11/12/01 ADP INV 104006, 103451 500.57 500.57 1225 11/12/01 AT&T ACCT 1717781206621 1,618.07 1,618.07 1226 11/12/01 AT&T WIRELESS, INC. ACCT 80952989 87.66 87.66 1227 11/12/01 EMPLOYMENT DEVELOPMENT ACCT 19604941 778.88 778.88 1228 11/12/01 EXHIBIT GROU/GILTSPUR INV 24738 399.50 399.50 1229 11/12/01 FIIOC-Fidelity 401K Loan Repayments - 11/9/01 101.33 101.33 1230 11/12/01 HOGLAND TRANSFER INV 834/6306 14,552.10 14,552.10 1231 11/12/01 JIT TRANSPORTATION INV 606117 5.00 5.00 1232 11/12/01 KEMPER INSURANCE ACCT CSF032268 - INSTALLMENT 4 2,320.00 2,320.00 1233 11/12/01 PACIFIC BELL ACCT 8586139269461 137.28 137.28 1234 11/12/01 PITNEY BOWES CREDIT CORP. ACCT 4903515 537.52 1235 11/12/01 R.R. DONNELLEY RECEIVABLES INV 1208054500, 1202505700 2,213.20 2,213.20 1236 11/12/01 SHAREHOLDER COM INV ADAP0801 145.77 145.77 1237 11/12/01 SOUTH DAKOTA-DEPT OF REVENUE LATE CHARGE 10.00 10.77 1238 11/12/01 Sprint PCS ACCT 002366265634 262.61 262.61 1239 11/12/01 STATE BOARD OF EQUALIZATION ACCT SC OH 30-697800 56.65 56.65 1240 11/12/01 THE DEPOSITORY TRUST CO. INV 147121, 149220 190.00 190.00 1241 11/12/01 THE HARTFORD INSURANCE INV 449710 3.75 3.75 1242 11/12/01 VERIZON WIRELESS INV 0313638213 176.23 176.23 1243 11/13/01 AON CONSULTING INV 4412 1,754.86 1244 11/14/01 ABC Prepaid postage stamps 2,070.00 2,070.00 1245 11/16/01 R.R. Donnelley Receivables, Inc. Inv#1206481100 3,277.00 3,277.00 1246 11/16/01 DANIEL SCHARRE Expense Reimbursement 5366011110 52.84 52.84 1247 11/16/01 MARK SHUPE Expense Reimbursement 7668011020 19.04 19.04 1248 11/16/01 Sprint PSC Oct-01 Stmt 23626563-4 912.86 EFT 11/20/01 ZHENG, XIAONAN EFT TRANSFER 11-20-01 CHINA REPRESENTATIVE 7,692.00 7,692.00 EFT 11/20/01 LUI, DIAN EFT TRANSFER 11-20-01 CHINA REPRESENTATIVE 1,650.00 1,650.00 EFT 11/20/01 ZHANG, YU EFT TRANSFER 11-20-01 CHINA REPRESENTATIVE 865.00 865.00 1253 11/21/01 SIRAROTOGA BLANCARTE INVOICE #178 PERIOD ENDING 11-23-01 1,440.00 1,440.00 1254 11/21/01 HQ GLOBAL WORKPLACES INV SJ004F754098 6,631.04 6,631.04 1255 11/21/01 IRON MOUNTAIN INV 777017831 108.00 108.00 1256 11/21/01 MURPHY & MACONACHY, INC. INV 2003079 1,094.00 1257 11/21/01 STERLING LOGISTICS INV 17603 75.00 1258 11/21/01 PACIFIC GAS & ELECTRIC CO. ACCT HVV50528063 13,692.27 13,692.27 11/23/01 ADP ADP PROCESSING FEES 47.23 47.23 ---------------------- 126,042.23 121,477.99 ====================== CHECK# Date VOID OUTSTANDING -------- -------- ----------- ----------- 10141 0/26/01 - 10151 0/26/01 - 10161 0/26/01 - 10171 0/26/01 - 10181 0/26/01 - 10191 0/26/01 - 10211 0/26/01 4,531.41 to print 10/26/01 1980 This needs to be reversed 1,980.00 4,531.41 - 1022 10/29/01 - 1023 10/29/01 - 1024 10/30/01 - 1201 11/2/01 - 1202 11/2/01 - 1203 11/2/01 - 1204 11/2/01 - 1205 11/2/01 - 1206 11/2/01 1207 11/2/01 - 1208 11/2/01 - 1219 11/9/01 - 1224 11/12/01 - 1225 11/12/01 - 1226 11/12/01 - 1227 11/12/01 - 1228 11/12/01 - 1229 11/12/01 - 1230 11/12/01 - 1231 11/12/01 - 1232 11/12/01 - 1233 11/12/01 - 1234 11/12/01 537.52 1235 11/12/01 - 1236 11/12/01 - 1237 11/12/01 - 1238 11/12/01 - 1239 11/12/01 - 1240 11/12/01 190.00 1241 11/12/01 - 1242 11/12/01 - 1243 11/13/01 1,754.86 1244 11/14/01 - 1245 11/16/01 - 1246 11/16/01 - 1247 11/16/01 - 1248 11/16/01 912.86 EFT 11/20/01 - EFT 11/20/01 - EFT 11/20/01 - 1253 11/21/01 - 1254 11/21/01 - 1255 11/21/01 - 1256 11/21/01 1,094.00 1257 11/21/01 75.00 1258 11/21/01 - 11/23/01 - --------------------------- 0.00 4,564.24 =========================== (9,095.67)
Bank of America [LOGO] BANK OF AMERICA, N.A. Account Number 1233936178 P.O. BOX 27128 01 01 000 01 M0000 E# 70 CONCORD, CA 94520 Last Statement: 10/31/2001 This Statement: 11/30/2001 Customer Service 1-800-262-2726 ADAPTIVE BROADBAND CORP- DIP 2055 GATEWAY PLACE SUITE 400 Page 1 of 4 SAN JOSE CA 95110 -------------------------------------------------------------------------------- Beginning November 29th, the full account address will only print on the first page of your statement ANALYZED CHECKING -------------------------------------------------------------------------------- Account Summary Information Statement Period 11/01/2001 - 11/30/2001 Statement Beginning Balance 376,169.98 Number of Deposits/Credits 16 Amount of Deposits/Credits 16,961,169.60 Number of Checks 70 Amount of Checks 306,314.03 Number of Other Debits 14 Amount of Other Debits 17,031,025.55 Statement Ending Balance .00 Number of Enclosures 70 Number of Days in Cycle 30 Service Charge .00
Transaction Detail --------------------------------------------------------------------------------
Date Customer Bank Posted Reference Amount Description Reference ------------------------------------------------------------------------------------------------------------------ 11/01 1001 1,000.00- Check 98200026021875 11/01 1010 3,636.49- Check 61500106001998 11/01 1015 12,483.00- Check 98350026015987 11/01 1022 587.74- Check 98850726007821 11/01 1023 1,096.77- Check 98140026026705 11/02 5,933,613.00 WIRE TYPE: WIRE IN DATE: 110201 TIME:1232 PT 38520037003269 TRN: 011102032696 FDREF/SEQ: 011102032696/000735 ORIG: SOUTHERN LOAN OP. CTR ID/9/AC-23022521 ORIG BK: UNITED CALIFORNIA BANK ID: 122003516 11/05 1011 8,862.74- Check 98140126003848X 11/05 1012 140.82- Check 98390546012377X 11/05 1013 234.75- Check 98140126003848X 11/05 1200 600.00- Check 98050066005329X 11/05 1204 14.15- Check 98680716015452X 11/05 1206 71.13- Check 0056001001X 11/06 1202 10.00- Check 98200156014971X 11/06 1203 540.00- Check 98700756033417X 11/07 528,376.55 WIRE TYPE: WIRE IN DATE: 110701 TIME:1325 PT 385200370051908 TRN: 011107051908 FDREF/SEQ: 011107043469 ORIG: PACHULSKI, STANG, ZIEHL, ID: 3480007971 SND BK: UNION BANK OF CALFORNIA NA ID: 122000496 PMT DET: 33 ADV. CONCORD, CA 11/07 1024 56,474.05- Check 988506360279258 11/08 ADD TAX EFT 29,756.37- WIRE TYPE: WIRE OUT DATE: 110801 TIME:0610 PT 385200370009826 TRN: 011108009826 FDREF/SEQ: 011108009826/000153 BNF: ADP INC. FUNDS MGMT. ID: 009102628675 BNF BK: CH ASE MANHATTAN BANK NA ID: 021000021 PMT DET: 0084900 312J0 BY REQUEST OF ADP TAX SERVICES PLEASE REFERE 11/08 1201 150.00- Check 988505060063403 11/08 1207 75.00- Check 981400960130252 11/08 1212 6,451.14- Check 980500260084737 11/09 6,701,330.62- Sweep - Mutual Fund Debit 09915100511 11/09 1205 486.13- Check 988505860007164 11/09 1213 3,395.05- Check 114201260209370
Bank of America [LOGO] BANK OF AMERICA, N.A. Account Number 1233936178 P.O. BOX 27128 01 01 000 01 M0000 E# 70 CONCORD, CA 94520 Last Statement: 10/31/2001 This Statement: 11/30/2001 Customer Service 1-800-262-2726 ADAPTIVE BROADBAND CORP-DIP Page 2 of 4 ANALYZED CHECKING -------------------------------------------------------------------------------- Transaction Detail --------------------------------------------------------------------------------
Date Customer Bank Posted Reference Amount Description Reference ----------------------------------------------------------------------------------------------------------------- 11/09 1215 1,745.01- Check 1142012602093 11/09 1218 9,018.57- Check 1098013601948 11/13 4,355.05 Sweep - Trans From Mutual Fund 099151005 11/13 55,814.59 CA BANKING CENTER DEPOSIT 570001605701 11/13 1219 960.00- Check 9835002600516 11/13 1220 3,395.05- Check 980500660077X 11/14 20,401.15 Sweep - Trans From Mutual Fund 099151005 11/14 1214 3,108.94- Check 9811006603287 11/14 1216 1,458.85- Check 9811006603287 11/14 1217 3,636.49- Check 622010604618 11/14 1223 12,196.87- Check 622010604618 11/15 13,786.55- Sweep - Mutual Fund Debit 099151005 11/15 1000 25,702.03- Check 9870056602270 11/15 1210 9,564.75- Check 9885071600782 11/15 1227 778.88- Check 3128012600788 11/15 1232 2,320.00- Check 987007360245X 11/15 1233 137.28- Check 4149041600557 11/15 1242 176.23- Check 414905160105X 11/16 2,627.02 Wire In-international 3852003700023 WIRE TYPE: INTL IN DATE: 111601 TIME: 0430 PT TRN: 011116002320 SENDERS REF: 011116017830 ORIG: ADAPTIVE BROADBAND CORPOR ORIG BK: BANK OF CHI NA ID: BKCHCNBJ PMT DET: $15.00 FEE DEDUCT/RFB/TT10 0A0002425/01 FUND WIRE 11/16 12,936.08 Wire In-international 385200370002X WIRE TYPE: INTL IN DATE: 111601 TIME: 0430 PT TRN: 011116002321 SENDERS REF: 011116017862 ORIG: ADAPTIVE BROADBAND CORPOR ORIG BK: BANK OF CHI NA ID: BKCHCNBJ PMT DET: $15.00 FEE DEDUCT/RFB/TT10 0A0002422/01 FUND WIRE 11/16 18,363.16- Sweep - Mutual Fund Debit 09915100X 11/16 1226 87.66- Check 987006260260X 11/16 1228 399.50- Check 983903660010X 11/16 1231 5.00- Check 982000260483X 11/16 1239 56.65- Check 312800960030X 11/19 10,207.33 Sweep - Trans From Mutual Fund 09915100X 11/19 1209 3,197.16- Check 988505560354X 11/19 1221 4,786.97- Check 987006260123X 11/19 1235 2,213.20- Check 987007360255X 11/19 1237 10.00- Check 981400260422X 11/20 8,624.69- CA BANKING CENTER DEPOSIT 126201460075X 11/20 28,803.03 Sweep - Trans From Mutual Fund 09915100X 11/20 865.00- Wire Out-international 385200370035X WIRE TYPE: INTL OUT DATE: 112001 TIME: 1043 PT TRN: 011120035947 BNF: YU ZHANG ID: 4101600018802891 BNF BK: BANK OF CHINA CHAO YANG PMT DET: PLS CONFIRM BY E-MAIL TO NAD ERE@EARTHLINK.NET /TELE/
[LOGO BANK OF AMERICA] BANK OF AMERICA, N.A. Account Number 1233936178 P.O. BOX 27128 01 01 000 01 M0000 E# 70 CONCORD, CA 94520 Last Statement: 10/31/2001 This Statement: 11/30/2001 Customer Service 1-800-262-2726 ADAPTIVE BROADBAND CORP - DIP Page 3 of 4 ANALYZED CHECKING -------------------------------------------------------------------------------- Transaction Detail --------------------------------------------------------------------------------
Date Customer Bank Posted Reference Amount Description Reference ---------------------------------------------------------------------------------------------------------------- 11/20 CHINA 1,650.00- Wire Out-international 385200370035 WIRE TYPE: INTL OUT DATE: 112001 TIME: 1039 PT TRN: 011120035523 BNF: DIAN LIU ID: 4101600018802207 BNF BK: BANK OF CHINA CHAO YANG PMT DET: PLS CONFIRM BY E-MAIL TO ELI AS NADER AT NADERE@EARTHLINK.NET /TELE/ 11/20 CHINA 7,692.00- Wire Out-international 385200370034 WIRE TYPE: INTL OUT DATE: 112001 TIME: 1036 PT TRN: 011120034293 BNF: ZHENG, XIAO NAN ID: 4101600018802769 BNF BK: BANK OF CHINA CHAO YANG PMT DET: PLS COMFIRM BY E-MAIL TO ELIAS NADER AT NADERE@EARTHLINK.NET /TELE/ 11/20 1224 500.57- Check 983500560078 11/20 1230 14,552.10- Check 983500260110 11/20 1238 262.61- Check 988506060062 11/20 1241 3.75- Check 988506360080 11/20 1245 3,277.00- Check 987007160233 11/21 10,269,306.37 WIRE TYPE: BOOK IN DATE: 112101 TIME: 1608 PT 385200370074 TRN: 011121074462 ORIG: ADAPTIVE BROADBAND ID: 1233810046 ADP PAYROLL 17,179.90- WIRE TYPE: WIRE OUT DATE: 112101 TIME: 0709 PT 385200370012 TRN: 011121012619 FDREF/SEQ: 011121012619/000202 BNF: ADP INC. FUNDS MGMT. ID: 009102628675 BNF BK:CH ASE MANHATTAN BANK N. ID:021000021 PMT DET:0320200 325JO BY REQUEST OF ADP TAX SERVICES PLEASE REFERE 11/21 10,239,207.93- Sweep - Mutual Fund Debit 09915100 11/21 1225 1,618.07- Check 988505060144 11/21 1236 145.77- Check 982000860318 11/21 1244 2,070.00- Check 986905060233 11/21 1246 52.84- Check 383301460561 11/21 1247 19.04- Check 987005060187 11/21 1249 1,745.01- Check 105900960045 11/21 1252 14,351.18- Check 383301460561 11/21 13048 340.00- Check 986905060233 11/23 2,282.16 Sweep - Trans From Mutual Fund 09915100 11/23 47.23- ADP - FEES ADP PAYROLL FEES CO ID: 9659605001 533302435742 ADAPTIVE BROADBAND-SUN ID# 10AB2 4969344 REF: 00123393617812110825000000243574250101112327 11/23 264.00- Check 414906460101 11/23 1208 100.00- Check 988505360088 11/23 1229 101.33- Check 981400660279 11/23 1250 1,458.85- Check 981101060513 11/23 1253 1,440.00- Check 983501060092 11/26 3,672.42 Sweep - Trans From Mutual Fund 09915100 11/26 1251 3,636.49- Check 615001760208 11/26 1255 108.00- Check 98680456036X 11/27 6,631.04 Sweep - Trans From Mutual Fund 09915100 11/27 1254 6,631.04- Check 983501360099 11/28 26,596.88 Sweep - Trans From Mutual Fund 09915100
[BANK OF AMERICA LOGO] BANK OF AMERICA, N.A. Account Number 1233936178 P.O. BOX 27128 01 01 000 01 M0000 E# 70 CONCORD, CA 94520 Last Statement: 10/31/2001 This Statement: 11/30/2001 Customer Service 1-800-262-2726 ADAPTIVE BROADBAND CORP-DIP Page 4 of 4
ANALYZED CHECKING ------------------------------------------------------------------------------------------------------ Transaction Detail ------------------------------------------------------------------------------------------------------ Date Customer Bank Posted Reference Amount Description Reference ------------------------------------------------------------------------------------------------------ 11/28 48.11- ADP - FEES ADP PAYROLL FEES CO ID: 9659605001 533334466253X ADAPTIVE BROADBAND-SUN ID# 10AB2 4583595 REF:00123393617812110825000003446625310101112827 11/28 91.93- ADP - FEES ADP PAYROLL FEES CO ID: 9659605001 533334466253X ADAPTIVE BROADBAND-SUN ID# 10AB2 4152185 REF:00123393617812110825000003446624310101112827 11/28 1258 13,692.27- Check 982500260243X 11/28 1259 12,764.57- Check 983906260061X 11/30 46,922.24 Sweep - Trans From Mutual Fund 09915100X 11/30 381.88- ADP - FEES ADP PAYROLL FEES CO ID: 9659605001 533323534273X ADAPTIVE BROADBAND-SUN ID# 10AB2 5100826 REF:00123393617812110825000002353427330101113027 11/30 624.87- ADP - FEES ADP PAYROLL FEES CO ID: 9659605001 533323534283X ADAPTIVE BROADBAND-SUN ID# 10AB2 4380430 REF:00123393617812110825000002353428330101113027 11/30 1004 462.88- Check 10400860211X 11/30 1141 1,765.63- Check 10400860211X 11/30 1194 96.15- Check 10400860211X 11/30 1260 3,055.50- Check 126201360144X 11/30 1264 40,495.57- Check 383300260229X 11/30 1271 39.76- Check 519000660155X
Daily Balances ------------------------------------------------------------------------------------------------------ Date Ledger Balance Collected Balance Date Ledger Balance Collected Balance ------------------------------------------------------------------------------------------------------ 10/31 376,169.98 361,546.02 11/13 55,814.59 .00 11/01 357,365.98 342,742.02 11/15 3,348.87 .00 11/02 6,290,978.98 6,290,101.56 11/16 .00 .00 11/05 6,281,055.39 6,281,055.39 11/20 8,624.69 .00 11/06 6,280,505.39 6,280,505.39 11/21 1,201.32 .00 11/07 6,752,407.89 6,752,407.89 11/23 72.07 .00 11/08 6,715,975.38 6,715,975.38 11/26 .00 .00 11/09 .00 .00 11/30 .00 .00
[LOGO] ACCT 0150209526 RELIANCE TRUST COMPANY FROM 07/01/2001 TRANSACTIONS FOR THE ACCOUNT OF TO 09/30/2001 RELIANCE TRUST CO, TRUSTEE FBO ADAPTIVE BROADBAND CORPORATION SUPPLEMENTAL EXECUTIVE DEFERRED COMPENSATION PLAN
DATE TRANSACTION PRINCIPAL CASH INVESTMENTS INCOME CASH INVD INCOME BEGINNING BALANCE 0.00 3,199,052.39 0.00 0.00 07/02/2001 316175504 DIVIDEND ON FIDELITY INSTL CASH 413.70 PORTFOLIOS U S TREAS PORTFOLIO II CL A PAYABLE 06/30/2001 EFFECTIVE 06/30/2001 07/03/2001 315809202 DIVIDEND ON FIDELITY ADVISOR SER 4,210.04 IV INTERMEDIATE BD FD CL T PAYABLE 06/29/2001 EFFECTIVE 06/29/2001 315809202 PURCHASED 397.174 SHS FIDELITY 4,210.04- 4,210.04 ADVISOR SER IV INTERMEDIATE BD FD CL T ON 06/29/2001 AT 10.60 FOR REINVESTMENT 08/01/2001 316175504 DIVIDEND ON FIDELITY INSTL CASH 484.45 PORTFOLIOS U S TRCAS PORTFOLIO II CL A PAYABLE 07/31/2001 EFFECTIVE 07/31/2001
2 [LOGO] ACCT 0150209526 RELIANCE TRUST COMPANY FROM 07/01/2001 TRANSACTIONS FOR THE ACCOUNT OF TO 09/30/2001 RELIANCE TRUST CO, TRUSTEE FBO ADAPTIVE BROADBAND CORPORATION SUPPLEMENTAL EXECUTIVE DEFERRED COMPENSATION PLAN
DATE TRANSACTION PRINCIPAL CASH INVESTMENTS INCOME CASH INVD INCOME 08/02/2001 315809202 DIVIDEND ON FIDELITY ADVISOR SER 5,198.69 IV INTERMEDIATE BD FD CL T PAYABLE 07/31/2001 EFFECTIVE 07/31/2001 315809202 PURCHASED 482.701 SHS FIDELITY 5,198.69- 5,198.69 ADVISOR SER IV INTERMEDIATE BD FD CL T ON 07/31/2001 AT 10.77 FOR REINVESTMENT 08/20/2001 315805408 SOLD 27,022.596 SHS FIDELITY ADV 523,157.46 572,068.36- MID CAP FD CL T ON 08/17/2001 AT 19.36 081701-JG-15 315805663 SOLD 8,770.565 SHS FIDELITY ADV 151,379.95 173,920.30- SMALL CAP FUND CL T ON 08/17/2001 AT 17.26 081701-3G-16 315805705 SOLD 37,027.601 SHS FIDELITY ADV 567,633.12 641,688.33- LARGE CAP FD CL T ON 08/17/2001 AT 15.33 081701-3G-17 315807404 SOLD 11,158.615 SHS FIDELITY 172,512.19 183,458.14- FUND SER II ADVISOR BALANCED FD CL T ON 08/17/2001 AT 15.46 081701-JG-18
[LOGO] ACCT 01S0209526 RELIANCE TRUST COMPANY FROM 07/01/2001 TRANSACTIONS FOR THE ACCOUNT OF TO 09/30/2001 RELIANCE TRUST CO, TRUSTEE FBO ADAPTIVE BROADBAND CORPORATION SUPPLEMENTAL EXECUTIVE DEFERRED COMPENSATION PLAN
DATE TRANSACTION PRINCIPAL CASH INVESTMENTS INCOME CASH INVD INCOME 315920694 362,206.15 381,314.66- SOLD 28,520.169 SHS FIDELITY ADVISOR SER VIII DIVERSIFIED INTL FD CL T ON 08/17/2001 AT 12.70 081701-JG-19 315809202 SOLD 103,266.633 SHS FIDELITY 1,116,312.30 1,101,875.44- ADVISOR SER IV INTERMEDIATE BD FD CL T ON 08/17/2001 AT 10.81 081701-3G-20 08/21/2001 315809202 DIVIDEND ON FIDELITY ADVISOR SER 3,208.70 IV INTERMEDIATE BD FD CL T PAYABLE 08/17/2001 ACCURED DIVIDEND 08/22/2001 RECEIVED FROM BANKERS TRUST CO 849,566.52 FOR PARTICIPANT DISTRIBUTIONS 316175504 DEPOSIT FIDELITY INSTL CASH 849,566.52- 849,566.52 PORTFOLIOS U S TREAS PORTFOLIO II CL A ON 08/22/2001 08/27/2001 316175504 DEPOSIT FIDELITY INSTL CASH 2,894,099.32- 2,894,099.32 PORTFOLIOS U S TREAS PORTFOLIO II CL A ON 08/27/2001
[LOGO] ACCT 0150209526 FROM 07/01/2001 RELIANCE TRUST COMPANY TO 09/30/2001 TRANSACTIONS FOR THE ACCOUNT OF RELIANCE TRUST CO, TRUSTEE FBO ADAPTIVE BROADBAND CORPORATION SUPPLEMENTAL EXECUTIVE DEFERRED COMPENSATION PLAN
DATE TRANSACTION PRINCICPAL CASH INVESTMENTS INCOME CASH INVD INCOME 08/31/2001 TRANSFERRED TO PRINCIPAL 3,208.70- TRANSFERRED FROM INCOME 3,208.70 09/04/2001 316175504 DIVIDEND ON FIDELITY INSTL CASH 2,620.03 PORTFOLIOS U S TREAS PORTFOLIO II CL A PAYABLE 08/31/2001 EFFECTIVE 08/31/2001 ENDING BALANCE 5,828.73 3,897,801.73 0.00 0.00
5 [LOGO] ACCT 0150209526 SUMMARY OF INVESTMENTS ASSETS HELD 09/30/2001 RELIANCE TRUST CO, TRUSTEE FBO VALUED AS OF 09/30/2001 ADAPTIVE BROADBAND CORPORATION SUPPLEMENTAL EXECUTIVE DEFERRED COMPENSATION PLAN
--------BOOK VALUE-------- ------MARKET VALE------ EST/AMN BOOK VALUE PERCENT YIELD MARKET VALUE PERCENT YIELD INCOME ------------- ------- ----- --------------- ------- ----- ------- CASH AND CASH EQUIVALENTS ------------------------- PRINCIPAL CASH 5,828.73 0.15 0.00 5,828.73 0.15 ------------- ------- ----- --------------- ------- ----- ------- SHORT TERM INVESTMENTS 3,897,801.73 99.85 3.18 3,897,801.73 99.85 3.18 123,950 INCOME CASH ------------- ------- ----- --------------- ------- ----- ------- TOTAL CASH AND CASH EQUIVALENTS 3,903,630.46 100.00 3.18 3,903,630.46 100.00 3.18 123,950 OTHER ASSETS ------------ SUNDRY ASSETS
[LOGO]
ACCT 0150209526 SUMMARY OF INVESTMENTS ASSETS HELD 09/30/2001 RELIANCE TRUST CO, TRUSTEE FBO VALUED AS OF 09/30/2001 ADAPTIVE BROADBAND CORPORATION SUPPLEMENTAL EXECUTIVE DEFERRED COMPENSATION PLAN -----BOOK VALUE------ --------MARKET VALUE------- EST/AMN BOOK VALUE PERCENT YIELD MARKET VALUE PERCENT YIELD INCOME ---------- ------- ----- ------------- ------- ----- ------- SUMMARY ======= TOTAL FUND 3,903,630.46 100.00 3.18 3,903,630.46 100.00 3.18 123,950 FOR THE YEAR ENDING 12/31 NET SHORT TERM GAIN/LOSS 161,124.06- NET LONG TERM GAIN/LOSS * 0.00 * INCLUDES LONG TERM CAPITAL GAINS DIVIDENS CURRENT MKT % TOT INC EST YLD UNITS DESCRIPTION TAX COST PRICE VALUE MKT RATE INC MKT% CASH & CASH EQUIVALENTS ======================= PRINCIPAL CASH 5,828.73 5,828.73 INCOME CASH 0 0 0.0 0.0 CURRENT MKT % TOT INC EST YLD UNITS DESCRIPTION TAX COST PRICE VALUE MKT RATE INC MKT% TOTAL CASH 5,828.73 5,828.73 SHORT TERM INVESTMENTS ---------------------- FIDELITY INSTL CASH PORTFOLIOS 3,897,801.73 0.000 3,897,801.73 99.9 3.18 123,950 3.2 U S TREAS PORTFOLIO II CL A
[LOGO] ASSETS HELD 09/30/2001 RELIANCE TRUST CO,, TRUSTEE FBO VALUED AS OF 09/30/2001 ADAPTIVE BROADBAND CORPORATION SUPPLEMENTAL EXECUTIVE DEFERRED COMPENSATION PLAN
CURRENT MKT % TOT INC EST YLD UNITS DESCRIPTION TAX COST PRICE VALUE MKT RATE INC MKT% TOTAL CASH & CASH EQUIVALENTS 3,903,630.46 3,903,630.46 123,950 OTHER ASSETS ============ SUNDAY ASSETS ------------- 1 MISCELLANEOUS - ADAPTIVE 0 0.000 0 0.0 0.00 0 0.0 BROADBAND CORP DEF COMP PLAN *PEN-PAL TOTAL FUND 3,903,630.46 3,903,630.46 100.0 123,950
------------------------------------------------------------ [LOGO]Merrill Lynch Priority Client Services ------------------------------------------------------------ ADAPTIVE BROADBAND YOUR FINANCIAL ADVISOR: Office Serving Your Account ELIAS NADER EDWARD S KUNKEL 701 B ST SUITE 2400 PLDG COLL TO BANK OF AMERICA Edward_Kunkel@ml.com SAN DIEGO CA 92101 2055 GATEWAY PL # 400 (619) 699-3700 SAN JOSE CA 95110-1060 For Client Service Questions Call: 1-800-MERRILL (1-800-637-7455)
-------------------------------------------------------------------------------- Total Value as of November 30, 2001 $10,076,849.32 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Asset Allocation Summary -------------------------------------------------------------------------------- Cash 100% *May not reflect all holdings -------------------------------------------------------------------------------- Statement Information -------------------------------------------------------------------------------- Account No. Account Name Page 291-07023 ADAPTIVE BROADBAND 2 to 5 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Total Value Comparison (in $ millions) -------------------------------------------------------------------------------- 5/00 12/00 1Q01 2Q01 3Q01 10/01 11/01 11.7 66.7 33.0 3.83 10.0 10.1 10.1 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Summary of Account(s)
------------------------------------------------------------------------------------------------ Total Value Gains and Losses Account Type This Month Last Month YTD Realized Unrealized 1 WCMA 10,076,849 10,052,223 - - Total 10,076,849 10,052,223 - -
PLEASE SEE REVERSE SIDE Page Statement Period Account No. 1 of 5 11/01/01 TO 11/30/01 291-07023 ----------------------------------------------- [LOGO OF MERRILL LYNCH] Priority Client WCMA(R) Account .......................... ----------------------------------------------- Total Account Value As Of 11/30/2001 $10,076,849.32 YOUR FINANCIAL ADVISOR: Your Merrill Lynch Office: ADAPTIVE BROADBAND EDWARD S KUNKEL 701 B ST SUITE 2400 ELIAS NADER Edward Kunkel@ml.com SAN DIEGO CA 92101 PLDG COLL TO BANK OF AMERICA (619) 699-3700 2055 GATEWAY PL # 400 SAN JOSE CA 95110-1060 FOR CUSTOMER SERVICE QUESTIONS: 1-800-MERRILL (1-800-637-7455) Monthly Portfolio Summary Income Summary ======================================================================== =========================================================== Asset 10/31/01 Value % 11/30/01 Value % This Statement Year-to-Date Cash/Money Accounts 10,052,223 100 10,076,849 100 Tax-Exempt Funds CD's/Equivalents Tax-Exempt Interest Government Securities Reportable Interest Corporate Bonds Reportable Dividends Municipal Bonds Income Not Reported Equities Mutual Funds Options Other Items for Attention Long Market Value 10,052,223 10,076,849 =========================================================== Short Market Value Security Message Date Estimated Accrued Interest No Items For Attention Debit Balance Net Portfolio Value 10,052,223 10,076,849 NEWS Financial Market Indicators ======================================================================== =========================================================== WCMA(R) monthly statements have been enhanced to include new activity This Last Previous category for electronic transfers. For more details, look in this Statement Statement Year-End month's issue of BusinessLife (enclosed with your statement). Dow Jones Industrial Average 9851.56 9075.14 10787.99 Three-Month Treasury Bills 1.77% 2.02% 5.88% Long-Term Treasury Bonds 5.27% 4.88% 5.45% + PLEASE SEE REVERSE SIDE Statement Period Account No. 11/01/01 TO 11/30/01 291-07023 [LOGO]
Page 2 of 5 --------------------------------------------- [LOGO] Merrill Lynch Priority Client WCMA(R) Account --------------------------------------------- ADAPTIVE BROADBAND Cash Flow Summary
Activity Summary This Statement Year-to-Date Credits This Statement Year-to-Date Debits This Statement Year-to-Date ============================================= ============================================ ========================================= Opening Balance Sales 60,250,000.00 Purchases 14,850,922.2? Cash & Money Income Withdrawals Accounts .07 Funds Received Electronic Tfrs Electronic Tfrs Other 69,048,177.0? Account Credits Other 23,649,099.00 & Debits .23DR Closing Balance Cash & Money Accounts .07 Total Credits 83,899,099.00 Total Debits 83,899,099.2? Current Portfolio Adjust/Unit Total Estimated Estimated Unrealized Estimated Estimated Current Date Cost Cost Market Market Gain or Accrued Annual Yield Quantity Security Description Acquired Basis Basis Price Value (Loss) Interest Income % ==================================================================================================================================== Cash and Money Accounts 10,076,849 ML PREMIER INST-L FUND 1.00 10,076,849 1.00 10,076,849 251,921 2.50 (.2500 FRACTIONAL SHARE) AS OF 11/30/01 DIV NOT INCL ---------- ---------- ---------- --------- --------- ------- Total Cash and Money Accounts 10,076,849 10,076,849 251,921 2.50 ---------- ---------- ---------- --------- --------- ------- Total of Long Portfolio 10,076,849 10,076,849 251,921 2.50
PLEASE SEE REVERSE SIDE Page Statement Period Account No. 3 of 5 11/01/01 TO 11/30/01 291-07023 ----------------------------------------- [LOGO OF MERRILL LYNCH] Priority Client WCMA(R) Account ----------------------------------------- ADAPTIVE BROADBAND Tax Information Summary This Statement Year-to-Date ===================================================================== Accrued Interest Paid Tax-Exempt Reportable Accrued Interest Received Tax-Exempt Reportable Gross Proceeds 60,250,000.00 Although we provide complete year-to-date information for Reportable Accrued Interest Received, Accrued Interest Paid and Tax-Exempt Accrued Interest Received and Paid include only those months we produce your profit and loss statement. =====================================================================
Customer Service For information about your account, please call 1-800-MERRILL (1-800-637-7455). To report Lost or Stolen Visa Cards or Checks, Please call 1-800-262-5678 Union Bank of TIME DEPOSIT/RETIREMENT ACCOUNT RECEIPT California OFFICE OF ACCOUNT SANTA CLARA VALLEY COMM'L BANKING THIS RECEIPT IS NON-NEGOTIABLE --------------------------------------------------------------------------------------------------------------------- NAME TYPE OF ACCOUNT ADAPTIVE BROADBAND CORPORATION NON-RENEWABLE FIXED MATURITY --------------------------------------------------------------------------------------------------------------------- ACCOUNT NUMBER DEPOSIT DATE MATURITY DATE TERM INTEREST RATE/ANNUAL PERCENTAGE YIELD AMOUNT 6459018542 11/09/2001 12/10/2001 D031 01.75 01.77 $1393054.11 --------------------------------------------------------------------------------------------------------------------- INTEREST DISPOSITION TRANSFER TO ACCOUNT NUMBER INTEREST PAYMENT CYCLE TRANSFER 6450148642 AT MATURITY --------------------------------------------------------------------------------------------------------------------- ADAPTIVE BROADBAND CORPORATION /s/XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX ------------------------------------------------------- 1143 BORREGAS AVE BANK REPRESENTATIVE SUNNYVALE CA 94089 0000 800-898-6466 ------------------------------------------------------- PHONE NUMBER Please examine this receipt carefully and notify us immediately of any errors.
Statement Page 1 of 1 of Accounts ADAPTIVE BROADBAND CORPORATION UNION BANK OF CALIFORNIA Statement Number: 6450148642 SANTA CLARA VALLEY CORPORATE DEPOSITS 64 11/1/01-11/30/01 POST OFFICE BOX 24512 OAKLAND CA 94623-1512 Customer Inquiries 800-898-6466 Thank you for banking with us since 1988 CY30 Z 0 B 0030 ADAPTIVE BROADBAND CORPORATION DEBTOR IN POSSESSION ATTN: DIRECTOR OF TREASURY 1143 BORREGAS AVE SUNNYVALE CA 94089 [_] Easier, Faster, More Secure -- Wires on the Web at uboc.com. Initiate, send and track wire transfers over the Internet. Click on uboc.com and view the demo or ask your banking officer for details. Web Cash Management: Add some easy to your day.
Analyzed Business Checking Summary Account Number: 6450148642 ---------------------------------------------------------------------------------------------------- Days in statement period: 30 Date of next scheduled statement: December 31, 2001 Beginning balance on 11/1 $ 3,635.91 Total Credits 2,728.06 Electronic credits(1) 2,728,06 Total Debits -28.05 Other debits, fees and adjustments(1) -28.05 ------------- Ending Balance on 11/30 $ 6,335.92 C r e d i ts Electronic credits ----------------------------------------------------------------------------------------------------- Date Description Reference Amount ------------------------------------------------------------------------------------- 11/9 UB CHECKING TCD TO DDA PPD 6459018427 57488609 $ 2,728.06 D e b i t s Other debits, fees and adjustments ----------------------------------------------------------------------------------------------------- Date Description Reference Amount ------------------------------------------------------------------------------------- 11/27* DEBIT MEMO 99556131 $ 28.05 * This transaction has been Value Dated to the prior business day. D a i l y L e d g e r B a l a n c e ----------------------------------------------------------------------------------------------------- Date Ledger Balance Date Ledger Balance Date Ledger Balance* ------------------------- ------------------------------- --------------------------- 11/1-11/8 $ 3,635.91 11/9-11/26 $ 6,363.97 11/27-11/30 $ 6,335.92