-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DCdolLKf7SEJLP+WIB1tePF4o3lIAiSZn9dDUdRO05REW9z7QEYRtWkga355CV/+ MdtqAb7mfjnp0OIsoGektA== 0000943440-97-000072.txt : 19971111 0000943440-97-000072.hdr.sgml : 19971111 ACCESSION NUMBER: 0000943440-97-000072 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19970830 ITEM INFORMATION: FILED AS OF DATE: 19971110 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: DIGITAL PRODUCTS CORP CENTRAL INDEX KEY: 0000028895 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISCELLANEOUS BUSINESS SERVICES [7380] IRS NUMBER: 591141879 STATE OF INCORPORATION: FL FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-09503 FILM NUMBER: 97711264 BUSINESS ADDRESS: STREET 1: 800 NW 33RD ST CITY: POMPANO BEACH STATE: FL ZIP: 33064 BUSINESS PHONE: 3057839600 MAIL ADDRESS: STREET 1: 800 N W 33 STREET CITY: POMANO BEACH STATE: FL ZIP: 33064 8-K 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K Commission File No.: 0-9503 Current Report October 24, 1997 (Date of Report - Date of Earliest Event Reported) DIGITAL PRODUCTS CORPORATION Florida 59-1141879 (State or other jurisdiction of (IRS Employer Incorporation or organization) Identification No) 3001 SW 10th Street Pompano Beach, Florida 33069 (Address of Principal Executive Offices) (800) 670-7790 (Registrant's Telephone Number) 1498 Northwest 3rd Street Deerfield Beach, Florida 33442 (Former Name, Former Address and Former Fiscal Year, if changed since last report) ITEM 3. BANKRUPTCY OR RECEIVERSHIP On April 3, 1997, the Company filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Act in the U.S. District Court for the Southern District of Florida. Since that date, the Company has continued its day-to-day business under the protection of the Bankruptcy Court as Debtor-In-Possession. The following Monthly Financial Report for Business for the month of September was filed with the Bankruptcy Court on or about October 24, 1997. UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF FLORIDA MIAMI DIVISION IN RE: CASE NUMBER 97-21987BKC-RBR JUDGE RAYMOND B. RAY DEBTOR. CHAPTER 11 DEBTOR'S MONTHLY FINANCIAL REPORTS (BUSINESS) FOR THE PERIOD FROM 9/1/97 TO 9/30/97 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. Robert Furr Attorney for Debtor Debtor's Address Attorney's Address And Phone Number: and Phone Number: 3001 SW 10th Street 1499 W Palmetto Road Pompano Beach, FL 33069 Boca Raton, FL 33486 (800) 670-7790 (561) 395-0500 Monthly Financial Report for Business For the Period Beginning: 9/1/97 and Ending: 9/30/97 Name of Debtor: Digital Products Corporation Case Number 97-21987 BKC RBR Date of Petition: 4/3/97
Current Cumulative Month Petition to Date 1. Cash at Beginning of Period $ 5,793.71 $ 60,846.09 2. Receipts: A. Cash Sales - - Less: Cash Refunds - - Net Cash Sales - - B. Collections on Post Petition A/R 298,541.35 809,456.95 C. Collections on Pre Petition A/R 3,000.34 361,853.48 D. Other Receipts 605.52 49,850.29 3. TOTAL RECEIPTS 302,147.21 1,221,160.72 4. TOTAL CASH AVAILABLE FOR OPERATIONS (Line 1 + Line 3) 307,940.92 1,282,006.81 5. DISBURSEMENTS A. U.S. Trustee Quarterly Fees - 3,750.00 B. Net Payroll 50,318.78 309,927.38 C. Payroll Taxes Paid 20,398.35 134,639.61 D. Sales and Use Taxes - - E. Other Taxes 653.23 653.23 F. Rent 9,084.71 34,084.71 G. Other Leases 8,327.32 25,769.92 H. Telephone 40,457.90 137,939.09 I. Utilities - - J. Travel & Entertainment 16,869.00 55,372.57 K. Vehicle Expenses - - L. Office Supplies 2,076.78 8,219.30 M. Advertising 2,230.63 10,225.57 N. Insurance (Attachment 7) 11,172.77 71,425.17 O. Purchases of Fixed Assets 2,551.22 46,338.24 P. Purchases of Inventory 9,252.74 92,722.54 Q. Manufacturing Supplies - - R. Repairs and Maintenance 15.00 925.32 S. Payments to Secured Creditors - - T. Other Operating Expenses 96,105.76 311,587.43 (Attach List) 6. TOTAL CASH DISBURSEMENTS 269,514.19 1,243,580.08 7. ENDING CASH BALANCE (LINE 4 - LINE 6) $ 38,426.73 $ 38,426.73
I declare under penalty of perjury that this statement and the accompanying documents and reports are true and correct to the best of my knowledge and belief. This 21 day of October 1997. Monthly Financial Report for Business Period Beginning: 9/1/97 and Ending: 9/30/97 Name of Debtor: Digital Products Corporation Case Number: 97-21987-BKC-RBR Date of Petition: 4/3/97
OTHER RECEIPTS Current Cumulative Month to Date IL Unemployment Refund - 701.08 Employees Shipping - 22.25 AT&T Refund - 172.98 Various Misc Income 360.00 1,197.38 Genesee County Payment in Error - 1,622.00 COD Supplies - 1,981.37 EMS Cash Advance - 24,900.00 APT Refund deposit - 10,000.00 Various Tax refunds - 257.51 State of Utah Receipt in error - 4,750.20 Void Checks 245.52 245.52 Nasdaq Refund - 4,000.00 $ 605.52 $ 49,850.29
Monthly Financial Report for Business Period Beginning: 9/1/97 and Ending: 9/30/97 Name of Debtor: Digital Products Corporation Case Number: 97-21987-BKC-RBR Date of Petition: 4/3/97 OTHER OPERATING EXPENSES
Current Cumulative Month to Date Tax Account Bank Charge Service Charges 16.16 131.32 Barnett Bank Bank Charge Wire Transfer Fees - 75.00 Operating Acc Bank Charge Service Charges 21.00 388.71 Payroll Account Bank Charges Service Charges 20.35 111.03 Kinko's Copies for Tracking - 654.67 Postage Next Day Mailing - 56.75 Subcontractors Installers 2,509.78 17,434.06 Corporate License Fees - 330.00 Computer Programmer 2,425.00 23,450.48 Subcontractors Labor 23,624.49 41,052.75 Freight 9,780.84 37,335.20 Transfer Agent/Other 239.90 21,752.81 Patent Renewals - 10,375.00 Refund (ck Rec in Error) - 6,362.20 Advance Payment Repayment - 24,900.00 Various Medical Claims - 1,835.88 Subcontractors Computer Supplies - 498.18 S. Kapila Interim CFO - 10,469.05 L. Martin Commission - 1,000.00 T. Snellings Commission - 2,500.00 Various Network Support 2,454.33 5,634.33 Various Move Expense 1,930.50 7,006.60 SGSG Advance 12,170.67 17,820.67 Competatech/Others Training 950.20 950.20 Employees Mileage 168.44 168.44 Employees 125s Reimbursement 2,588.00 2,588.00 Corporate Systems CCSN Deposit 30,000.00 30,000.00 Mike Luther Expense Advance 6,206.10 6,206.10 Various Deposits 1,000.00 40,500.00 Total $ 96,105.76 $311,587.43
ATTACHMENT 1 MONTHLY ACCOUNTS RECEIVABLE AGING AND RECONCILIATION Name of Debtor: Digital Products Corporation Case Number: 97-21987 BKC RBR Reporting Period Beginning: 9/1/97 and Ending: 9/30/97 ACCOUNTS RECEIVABLE AT PETITION DATE: $ 534,314.00 ACCOUNTS RECEIVABLE RECONCILIATION (Includes all accounts receivable, pre-petition and post-petition, including charge card sales, which have not been received): Beginning of Month Balance $ 666,972.68 Plus: Current Month New Billings 209,319.54 Less: Collections during the Month 301,541.69 End of Month Balance $ 574,750.53 Aging: (Show the total amount for each age group of accounts Incurred since filing the petition) 0-30 days 31-60 days 61-90 days Over 90 Total Days $109,319.54 233,220.27 49,250.00 10,500.00 $402,289.81 ATTACHMENT 2 MONTHLY ACCOUNTS PAYABLE AND SECURED PAYMENTS REPORT Name of Debtor: Digital Products Corporation Case # 97-21987 BKC-RBR Reporting Period Beginning 9/1/97 and Ending 9/30/97 In the space below list all invoices or bills incurred and not paid since the filing of the petition. Do not include amounts owed prior to the filing of the petition.
Date Days Incurred Outstanding Vendor Description Amount 24-Apr-97 Millward & Co. Audit 150.00 dispute 30-Sep-97 1 United Parcel Service 364-325 1,461.21 30-Sep-97 1 American Design Co. Contract labor 4,241.85 30-Sep-97 1 Albani Laporte Installer (subcontractor) 543.54 30-Sep-97 1 Frank Garner Installer (subcontractor) 375.00 30-Sep-97 1 LCI Long distance 15,546.61 $22,318.21
ACCOUNTS PAYABLE RECONCILIATION (Post Petition Only): Opening Balance (total from prior report) $40,285.53 Plus: New Indebtedness Incurred This Month 22,168.21 Less: Amount Paid on Prior Accounts Payable 40,135.53 End of Month Balance $22,318.21 Secured: List the status of Payments to Secured Creditors and Lessors (Post Petition Only) Number Total of Post Amount of Secured Date Petition Post Petition Creditor/ Payment Payment Payments Payments Lessor Due Amount Delinquent Delinquent None ATTACHMENT 3 Name of Debtor: Digital Products Corporation Case # 97-21987 BKC-RBR Report Period Beginning 9/1/97 and Ending 9/30/97 INVENTORY REPORT INVENTORY BALANCE AT PETITION DATE: $ 148,780.63 INVENTORY RECONCILIATION: Inventory Balance at Beginning of Month $ 6,516.09 Inventory Purchased during Month 9,252.74 Inventory Used or Sold 10,253.00 Inventory on Hand at End of Month $ 5,515.83 METHOD OF COSTING INVENTORY: Inventory is stated at lower of cost or market using first-in, first-out method in determining cost, and replacement cost or net realizable value in determining market. FIXED ASSETS FAIR MARKET VALUE AT PETITION DATE: $ 716,000 (Includes Property, Plant and Equipment) BRIEF DESCRIPTION (First Report Only): FIXED ASSETS RECONCILIATION: Fixed Assets Book Value at Beginning of Month $ 875,339.69 Less: Depreciation Expense 34,963.00 Plus: New Purchases 2,551.22 Ending Monthly Balance $ 842,927.91 BRIEF DESCRIPTION OF FIXED ASSETS PURCHASED OR DISPOSED OF DURING THE REPORTING PERIOD: Computer for sales $1,601.53 Network Software 399.70 Printer 549.99 ATTACHMENT 4 MONTHLY BANK RECONCILIATIONS DEBTOR: Digital Products Corporation Case # 97 21987 BKC-RBR Report Period Beginning: 9/1/97 Ending: 9/30/97 BANK: Comerica Bank & Trust BRANCH: Boca Raton ACCT NAME: Digital Products Corporation ACCT NUMBER: 1811006533 PURPOSE OF ACCOUNT: Operating Account Beginning Balance $ 3,728.88 Total of Deposits Made 302,147.21 Total Amount of Checks/Wires 201,239.55 Service Charges 21.00 Transfers to Other Accounts 67,047.88 Closing Balance $ 37,567.66 Number of First Check Written This Period 1373 Number of Last Check Written This Period 1469 Total Number of Checks Written This Period 94 Total Number of Wire Transfers 1 Voided Checks This Period 3 Total 98 BANK: Comerica Bank & Trust BRANCH: Boca Raton ACCT NAME: Digital Products Corporation ACCT NUMBER: 1811006541 PURPOSE OF ACCOUNT: Payroll Account Beginning Balance $ 1,300.61 Total of Deposits Made 46,898.82 Transfers in Total Amount of Checks Written 47,597.12 Service Charges Payroll Depot 221.66 Service Charges 20.35 Transfers to Other Accounts 0.00 Closing Balance $ 360.30 Number of First Check Written This Period 404 Number of Last Check Written This Period 458 Total Number of Checks Written This Period 55 Plus Manual Checks 0 Total 55 Plus Direct Deposits 37 Items Total 92 Items ATTACHMENT 4 MONTHLY BANK RECONCILIATION DEBTOR: Digital Products Corporation Case # 97 21987 BKC-RBR Report Period Beginning: 9/1/97 Ending: 9/30/97 BANK: Comerica Bank & Trust BRANCH: Boca Raton ACCT NAME: Digital Products Corporation ACCT NUMBER: 1811006558 PURPOSE OF ACCOUNT: Tax Account Beginning Balance $ 764.22 Total of Deposits Made 20,149.06 Transfers in Total Amount of Checks Written 20,398.35 Transfers out Service Charges 16.16 Transfers to Other Accounts 0.00 Closing Balance $ 498.77 ATTACHMENT 5 CHECK REGISTER DEBTOR: Digital Products Corporation Case # 97-21987 BKC-RBR Report Period Beginning: 9/1/97 And Ending: 9/30/97 NAME OF BANK: Comerica Bank & Trust ACCOUNT NAME: Digital Products Corporation ACCOUNT #: 1811006533 PURPOSE OF ACCOUNT: Operating Account
Date Check # Payee Purpose Amount 9/1/97 1373 Mike Luther Expense advance $ 5,000.00 9/4/97 1374 Ken Virgillito Expense reimbursement 640.35 9/4/97 1375 Afco Insurance 5,911.29 9/4/97 1376 TCG Telephone 2,308.65 9/4/97 1377 LCI International Telephone 10,000.00 9/4/97 1378 Intouch Communications Deposit 1,000.00 9/4/97 1379 Poe & Brown Benefits Health Insurance 868.94 9/4/97 1380 Albani Laporte Installer 339.09 9/4/97 1381 Frank Garner Installer 295.00 9/4/97 1382 Don Domek Programming 100.00 9/4/97 1383 Victor Flores Programming 1,500.00 9/4/97 1384 Access 2000 Computer & supplies 1,644.13 9/4/97 1385 RPS Freight 15.37 9/4/97 1386 UPS Freight 884.49 9/4/97 1387 AT&T Credit Phone lease 3,053.88 9/4/97 1388 KBS, Inc. Rent 5,000.00 9/4/97 1389 PageNet Pagers 274.83 9/4/97 1390 Electronic Filings, Inc. Edgar filing 171.00 9/1/97 1391 Telnet Data Group Materials 510.25 9/1/97 1392 Lawrence Martin Reimburse movers 783.00 9/9/97 1393 LEP Profit Freight 4,603.95 9/4/97 1394 US West Telephone 1,316.82 9/4/97 1395 Time Insurance Com. Health insurance 191.10 9/5/97 1396 Earl Carson 125s Reimbursement 1,442.40 9/5/97 1397 Richard Angulo 125s Reimbursement 260.00 9/5/97 1398 Abe Miranda 125s Reimbursement 3.60 9/5/97 1399 American Design Contract labor 5,193.22 9/5/97 1400 Bryan Brown Reimburse Travel 359.62 9/5/97 1401 Reliance Standard Life LTD Insurance 80.40 9/9/97 1402 AICPA Education materials 206.45 9/9/97 1403 Competatech Training & software 955.95 9/9/97 1404 Dale Conrad Reimburse expenses 2,577.11 9/9/97 1405 Wisconsin Counties Ass. Advertising 700.00 9/9/97 1406 Chris Horn Advertising 1,280.63 9/12/97 1407 Charles Nora Consulting/expenses 2,951.79 9/12/97 1408 Liberty Court Travel Airfare 4,273.00 9/12/97 1409 Penny Woods Mileage 53.32 9/12/97 1410 Dave Holbrook Dist. Repairs 15.00 9/12/97 1411 Illinois Consolidated Advance SGSG 180.00 9/12/97 1412 Office of the Chief Advance SGSG 322.00 9/12/97 1413 Sargent Electric Advance SGSG 1,032.53
ATTACHMENT 5 CHECK REGISTER DEBTOR: Digital Products Corporation Case # 97-21987 BKC-RBR Report Period Beginning: 9/1/97 And Ending: 9/30/97 NAME OF BANK: Comerica Bank & Trust ACCOUNT NAME: Digital Products Corporation ACCOUNT #: 1811006533Installe PURPOSE OF ACCOUNT: Operating Account
Date Check # Payee Purpose Amount 9/12/97 1414 Consolidated Comm. Advance SGSG $ 216.60 9/12/97 1415 Lawrence Martin Reimburse movers 297.00 9/12/97 1416 Richard Angulo Office Depot 865.95 9/12/97 1417 LEP Profit Freight 577.90 9/12/97 1418 Geo S Grimmett Advance SGSG 202.50 9/12/97 1419 Mansfield Electric Advance SGSG 217.04 9/12/97 1420 Memcon Office rent 1,000.00 9/15/97 1421 Mike Luther Advance/Salary 3,706.10 1422 void - 9/15/97 1423 American Design Contract labor 5,274.79 9/15/97 1424 UPS Freight 2,923.73 1425 void - 9/15/97 1426 Darryl Martin 125s reimbursement 882.00 9/15/97 1427 Self Storage, Inc. Storage 1,142.00 9/15/97 1428 Virginia Riscorp Workcomp 22.16 9/15/97 1429 Riscorp of Florida Workcomp 1,098.88 9/15/97 1430 PageNet Pagers 233.29 9/15/97 1431 Telogy Equipment rent 131.44 9/15/97 1432 Lawrence Martin Expense reimbursement 407.58 9/15/97 1433 Annie Angulo Mileage 76.88 9/15/97 1434 Richard Angulo Expense reimbursement 1,854.43 9/22/97 1435 Advanced Promotion Rent 4,084.71 9/17/97 1436 Telnet Data Group Materials 1,886.75 9/17/97 1437 Victor Flores Programming 825.00 9/17/97 1438 Renata Batteries Batteries 3,049.70 9/19/97 wire Dale Conrad Advance SGSG 10,000.00 9/22/97 1439 Wincom Business Sys. Network support 1,108.76 9/22/97 1440 American Design Contract labor 5,333.08 9/22/97 1441 Bryan Brown Expense reimbursement 283.51 9/22/97 1442 Judy Sundberg Expense reimbursement 377.55 9/22/97 1443 Ken Virgillito Expense reimbursement 953.65 9/24/97 1444 Frank Garner Installer 810.00 9/24/97 1445 Albani Laporte Installer 1,065.69 9/24/97 1446 Liberty Court Travel Airfare 2,975.45 9/24/97 1447 Data Duplicating Corp. Rent 3,000.00 9/19/97 1448 Dadan Packaging Boxes 1,058.00 9/19/97 1449 Lawrence Martin Expense reimbursement 177.00 9/19/97 1450 Lawrence Martin Movers 195.00 9/25/97 1451 Midwest Employee Ben Health Insurance 3,000.00 9/26/97 1452 Charles Nora Consulting 400.00 9/30/97 1453 Charles Nora Consulting 800.00 9/30/97 1454 Ken Virgillito Expense reimbursement 303.91 9/30/97 1455 Corporate Systems Group Network support 1,345.57 9/30/97 1456 Dean Witter Stockholder mailing 68.90 9/24/97 1457 Industrial Assembly Corp. Strap kits 2,475.00
ATTACHMENT 5 CHECK REGISTER DEBTOR: Digital Products Corporation Case # 97-21987 BKC-RBR Report Period Beginning: 9/1/97 And Ending: 9/30/97 NAME OF BANK: Comerica Bank & Trust ACCOUNT NAME: Digital Products Corporation ACCOUNT #: 1811006533Installe PURPOSE OF ACCOUNT: Operating Account
Date Check # Payee Purpose Amount 9/24/97 1458 Neph Rodriguez Argentina travel $ 1,750.00 9/29/97 1459 Richard Angulo Expense reimbursement 4,205.85 9/30/97 1460 TCG Telephone 2,305.15 9/30/97 1461 American Design Contract labor 4,574.40 9/30/97 1462 Penny Woods Mileage 38.24 9/30/97 1463 Jacque C Williams Property tax 563.23 9/30/97 1464 Broward County Revenue Occupation tax 90.00 1465 Void - 9/30/97 1466 Competatech Training 187.50 9/30/97 1467 Eagle USA Shipping 742.40 9/30/97 1468 LCI International Telephone 21,776.12 9/30/97 1469 Corporate Systems Group CCSN Deposit 30,000.00 $201,239.55
ATTACHMENT 5 CHECK REGISTER DEBTOR: Digital Product Corporation Case #: 97-21987 BKC-RBR Report Period Beginning: 9/1/97 and Ending: 9/30/97 NAME OF BANK: Comerica Bank & Trust ACCOUNT NAME: Digital Products ACCOUNT #: 1811005541 PURPOSE OF ACCOUNT: Payroll Account
Date Check # Payee Purpose Amount 9/5/97 404-419+8 direct dep Employees Payroll $12,037.52 9/12/97 420-435+7 direct dep Employees Payroll 11,865.13 9/19/97 436-446+11 direct dep Employees Payroll 12,122.44 9/26/97 447-458+11 direct dep Employees Payroll 11,572.03 Sub Total Payroll Depot 47,597.12 September Payroll Depot Serv. Chg. 221.66 Grand Total $47,818.78
ATTACHMENT 5 CHECK REGISTER DEBTOR: Digital Products Corporation Case # 97-21987 BKC-RBR Report Period Beginning: 9/1/97 and Ending: 9/30/97 NAME OF BANK: Comerica Bank & Trust ACCOUNT NAME: Digital Products Corporation ACCOUNT #: 1811006558 PURPOSE OF ACCOUNT: Tax Account
Date Check # Payee Purpose Amount 9/1/97 transfer Payroll Depot payroll taxes $ 5,309.33 9/12/97 transfer Payroll Depot payroll taxes 5,249.29 9/19/97 transfer Payroll Depot payroll taxes 5,082.31 9/26/97 transfer Payroll Depot payroll taxes 4,757.42 $20,398.35
ATTACHMENT 6a Monthly Tax Report DEBTOR: Digital Products Corporation Case # 97-21987 BKC - RBR Reporting Period Beginning: 9/1/97 and Ending: 9/30/97 TAXES PAID and ACCRUED DURING MONTH Date Bank Description Amount 9/5/97 Comerica Bank FED WH $ 2,487.03 FICA 1,992.51 MEDICARE 465.99 FUTA 10.38 IN WH 62.77 NE WH 209.86 VA WH 28.18 FL SUTA 20.41 NE SUTA 32.20 $ 5,309.33 9/12/97 Comerica Bank FED WH $ 2,459.06 FICA 1,964.66 MEDICARE 459.49 FUTA 10.68 IN WH 62.77 NE WH 209.86 VA WH 28.18 FL SUTA 22.39 NE SUTA 32.20 $ 5,249.29 9/19/97 Comerica Bank FED WH $ 2,476.72 FICA 1,773.43 MEDICARE 464.76 FUTA 10.85 IN WH 62.77 NE WH 209.86 VA WH 28.18 FL SUTA 23.54 NE SUTA 32.20 $ 5,082.31 Date Bank Description Amount 9/26/97 Comerica Bank FED WH $ 2,292.45 FICA 1,658.64 MEDICARE 441.41 FUTA 10.53 IN WH 62.77 NE WH 209.86 VA WH 28.18 FL SUTA 21.38 NE SUTA 32.20 $ 4,757.42 TOTAL $20,398.35 ATTACHMENT 6b DEBTOR: Digital Products Corporation Case # 97-21987 BKC - RBR Report Period Beginning: 9/1/97 and Ending: 9/30/97 TAXES OWED AND DUE Report all unpaid post-petition taxes including Federal & State withholding, FICA, state sales tax, property tax, unemployment taxes and State WC. Date last tax returns filed 7/27/97. Period: 2nd Quarter returns
Name of Taxing Date Payment Description Amount Authority Due Fed Taxes 9/10/97 Fed WH/Fica/Medicare $4,945.53 Pd Fed Taxes 9/17/97 Fed WH/Fica/Medicare 4,883.21 Pd Fed Taxes 9/24/97 Fed WH/Fica/Medicare 4,714.91 Pd Fed Taxes 10/01/97 Fed WH/Fica/Medicare 4,392.50 Pd FUTA 10/31/97 Fed unemployment tax 283.28 IN WH 10/31/97 IN WH 816.01 MI WH 10/31/97 MI WH 158.41 NE WH 10/31/97 NE WH 2,874.01 VA WH 10/31/97 VA WH 366.34 FL SUTA 10/31/97 FL unemployment 482.61 IN SUTA 10/31/97 IN unemployment 189.00 MI SUTA 10/31/97 MI unemployment 115.38 NE SUTA 10/31/97 NE unemployment 684.90
ATTACHMENT 7 SUMMARY OF PERSONNEL & INSURANCE COVERAGES Name of Debtor: Digital Products Corporation Case # 97-21987 BKC - RBR Report Period Beginning: 9/1/97 and Ending 9/30/97 Report all compensation received during the month. Do not include reimbursement for expenses incurred for which you have receipts. Name of Officer: Title Amount Paid Travel Adv. Richard Angulo Pres/COO $ 7,384.60 - Michael Luther CEO/Chairman 8,076.95 6,206.10 Bryan Brown CFO/Secy 6,153.84 - PERSONNEL REPORT Full Time Part Time Number of employees at beginning of period 21 2 Number hired during the period - - Number converted to full time - - Number terminated during the period 1 - Number of employees on payroll at the end of period 20 2 CONFIRMATION OF INSURANCE List all policies of insurance in effect, including but not limited to workers' compensation, liability, fire, theft, comprehensive, vehicle, health & life.
Carrier Agent & Phone # Policy # Coverage Expiration Date Type Date Premium Due Riscorp of FL Alexander & Alex 12924 WC 4/1/98 10/2/97 305-279-7870 VA Riscorp Dade Underwriters 40076 WC 3/1/98 10/2/97 954-462-1304 Reliance Stand. Mahoney & Asso. LTD097814 LTD 8/1/97 10/2/97 Life Insurance 954-763-7971 Gotham Ins. Seitlin Ins. MM014842LP296 Comp. Gen'l 6/1/98 10/1/97 305-591-0090 Liability Nat'l Union Fire Seitlin Ins. BE9327676 Umbrella 6/1/98 10/1/97 Ins. Co. of Pitt. 305-591-0090 Liability Pacific Ins. Co. Seitlin Ins. ZG0008872 Property 5/1/98 10/1/97 305-591-0090 Fidelity & Dep. Seitlin Ins. CCP0033867 Crime 5/1/98 10/1/97 305-591-0090 Midwest Harry Koch Ins. 266 MBPT Health & Dental 10/1/98 10/1/97 Employee Ben. ATTACHMENT 8 SIGNIFICANT DEVELOPMENTS DURING REPORTING PERIOD The Company filed its Plan of Reorganization and Disclosure Statement on June 16, 1997.
-----END PRIVACY-ENHANCED MESSAGE-----