-----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, JobS87c11RuQiRF4b4pzvn4bdTymGXZw/56+/Vpy7zZ+zz4YdRKnbiafIDHiCVSU 1jrl6C+2VzfRfTToXuiUcQ== 0000943440-97-000042.txt : 19970701 0000943440-97-000042.hdr.sgml : 19970701 ACCESSION NUMBER: 0000943440-97-000042 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19970618 ITEM INFORMATION: Bankruptcy or receivership FILED AS OF DATE: 19970630 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: 1934 Act SEC FILE NUMBER: 000-09503 FILM NUMBER: 97632958 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 June 23, 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) 1498 Northwest 3rd Street Deerfield Beach, Florida 33442 (Address of Principal Executive Offices) (954) 296-9600 (Registrant's Telephone Number) None (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 May was filed with the Bankruptcy Court on June 23, 1997. UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF FLORIDA MIAMI DIVISION IN RE: CASE NUMBER 97-21987BKC-RBR JUDGE RAYMOND B. RAY DIGITAL PRODUCTS CORPORATION, DEBTOR. CHAPTER 11 DEBTOR'S MONTHLY FINANCIAL REPORTS (BUSINESS) FOR THE PERIOD FROM 5/1/97 TO 5/31/97 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: 1498 NW 3rd Street 1499 W Palmetto Road Deerfield Beach, FL 33442 Boca Raton, FL 33486 954-246-9600 516-395-0500 Monthly Financial Report for Business For the Period Beginning: 5/1/97 and Ending: 5/31/97 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 90,146.47 60,846.09 2. Receipts: A. Cash Sales - - Less: Cash Refunds - - Net Cash Sales - - B. Collections on Post Petition A/R 3,499.90 52,287.90 C. Collections on Pre Petition A/R 179,046.50 176,888.86 D. Other Receipts 1,733.69 29,429.08 3. TOTAL RECEIPTS 184,280.09 358,605.84 4. TOTAL CASH AVAILABLE FOR OPERATIONS (Line 1 + Line 3) 274,426.56 419,451.93 5. DISBURSEMENTS A. U.S. Trustee Quarterly Fees - - B. Net Payroll 50,791.95 101,631.45 C. Payroll Taxes Paid 20,320.20 44,582.03 D. Sales and Use Taxes - - E. Other Taxes - - F. Rent 5,000.00 10,000.00 G. Other Leases 2,087.52 3,229.52 H. Telephone 49,010.26 49,189.96 I. Utilities - - J. Travel & Entertainment 6,046.64 9,080.51 K. Vehicle Expenses - - L. Office Supplies 150.15 362.80 M. Advertising - 1,000.00 N. Insurance (Attachment 7) 19,072.51 36,673.50 O. Purchases of Fixed Assets - - P. Purchases of Inventory 25,318.01 33,343.10 Q. Manufacturing Supplies - - R. Repairs and Maintenance 238.50 238.50 S. Payments to Secured Creditors - - T. Other Operating Expenses 27,946.89 61,976.63 (Attach List) 6. TOTAL CASH DISBURSEMENTS 205,982.63 351,008.00 7. ENDING CASH BALANCE (LINE 4 - LINE 6) $ 68,443.93 $ 68,443.93
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 17 day of June 1997. Monthly Financial Report for Business Period Beginning: 5/1/97 and Ending: 5/31/97 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 13.55 73.57 Barnett Bank Bank Charge Wire Transfer Fees 75.00 75.00 Operating Acc Bank Charge Service Charges 30.00 143.91 Kinko's Copies for Tracking - 654.67 Postage Next Day Mailing - 56.75 Subcontractors Installers 2,729.00 8,172.14 Corporate License Fees - 330.00 Computer Programmer 8,832.50 11,276.25 Subcontractors Labor 872.95 872.95 Freight 3,803.64 3,803.64 Transfer Agent 3,200.00 3,200.00 Patent Renewals 6,750.00 6,750.00 Refund (ck Rec in Error) 1,622.00 1,622.00 Advance Payment Repayment - 24,900.00 Payroll Acct Bank Charge Service Charges 18.25 45.75 Total $27,946.89 $61,976.63 OTHER RECEIPTS Current Cumulative Month to Date IL Unemployment Refund 701.08 701.08 Dennis Herald 22.25 22.25 AT&T Refund 172.98 172.98 Various Misc Income 837.88 837.88 Genesee County Payment in Error - 1,622.00 COD Supplies - 1,173.39 EMS Cash Advance - 24,900.00 $ 1,733.69 $29,429.08 ATTACHMENT 1 MONTHLY ACCOUNTS RECEIVABLE AGING AND RECONCILIATION Name of Debtor: Digital Products Corporation Case Number: 97-21987 BKC RBR Reporting Period Beginning: 5/1/97 and Ending: 5/31/97 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 $ 461,878.40 Plus: Current Month New Billings 37,517.20 Less: Collections during the Month 182,546.40 End of Month Balance $ 316,849.20 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 $34,047.55 25,376.51 $ 59,424.06 April, May and June rental and monitoring billing is currently under way. Once completed there will be additional post petition receivables of approximately $560,000.00. ATTACHMENT 2 MONTHLY ACCOUNTS PAYABLE AND SECURED PAYMENTS REPORT Name of Debtor: Digital Products Corporation Case Number: 97-21987 BKC-RBR Reporting Period Beginning 5/1/97 and Ending 5/31/97 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 19-Apr-97 Peggy Conway Travel/On site help 964.39 24-Apr-97 Millward & Co. Audit 150.00 dispute 1-May-97 Medical Claims 1,835.88 5-May-97 US Satellite Compress Amplifier 605.58 17-May-97 United Parcel Service 364-325 5,337.12 24-May-97 United Parcel Service 85E-131 17.34 31-May-97 Dale English Installer 90.00 (subcontractor) 31-May-97 Andy Saucedo Installer 10.00 (subcontractor) 31-May-97 Albani Laporte Installer 465.00 (subcontractor) 31-May-97 Frank Garner Installer 390.00 (subcontractor) 19-May-97 Synergy Communications Web Site Development 700.00 10,565.31
ACCOUNTS PAYABLE RECONCILIATION (Post Petition Only): Opening Balance (total from prior report) $ 60,530.52 Plus: New Indebtedness Incurred This Month 9,450.92 Less: Amount Paid on Prior Accounts Payable 59,416.13 End of Month Balance 10,565.31 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 Number: 97-21987 BKC-RBR Report Period Beginning 5/1/97 and Ending 5/31/97 INVENTORY REPORT INVENTORY BALANCE AT PETITION DATE: $ 148,780.63 INVENTORY RECONCILIATION: Inventory Balance at Beginning of Month $ 13,494.13 Inventory Purchased during Month 25,318.01 Inventory Used or Sold 26,338.52 Inventory on Hand at End of Month $ 12,473.32 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 $ 971,404.67 Less: Depreciation Expense 34,963.00 Plus: New Purchases - Ending Monthly Balance $ 936,441.67 BRIEF DESCRIPTION OF FIXED ASSETS PURCHASED OR DISPOSED OF DURING THE REPORTING PERIOD: ATTACHMENT 4 MONTHLY BANK RECONCILIATIONS DEBTOR: Digital Products Corporation Case Number: 97 21987 BKC-RBR Report Period Beginning: 5/1/97 Ending: 5/31/97 BANK: Comerica Bank & Trust BRANCH: Boca Raton ACCT NAME: Digital Products Corporation ACCT NUMBER: 1811006533 PURPOSE OF ACCOUNT: Operating Account Beginning Balance $ 27,174.34 Total of Deposits Made 244,886.42 Total Amount of Checks Written 134,733.68 Service Charges 30.00 Transfers to Other Accounts 71,004.50 Closing Balance $ 66,292.58 Number of First Check Written This Period 1040 Number of Last Check Written This Period 1112 Total Number of Checks Written This Period 64 Voided Checks This Period 9 Total 73 BANK: Barnett Bank ACCT NAME: DPC Monitoring Services, Inc. ACCT NUMBER: 3871-201180 PURPOSE OF ACCOUNT: Operating Account Beginning Balance $ 853.72 Total of Deposits Made 0.00 Wire Transfer Comerica Opr Acct 838.72 Service Charges 15.00 Closing Balance $ 0.00 Account Closed BANK: Barnett Bank ACCT NAME: Digital Products Corporation aka Hitek, Inc. ACCT NUMBER: 3871-164859 PURPOSE OF ACCOUNT: Operating Account Beginning Balance $ 28,417.76 Total of Deposits Made 0.00 Wire Transfer Comerica Opr Acct 28,402.76 Service Charges 15.00 Closing Balance $ 0.00 Account Closed ATTACHMENT 4 MONTHLY BANK RECONCILIATIONS DEBTOR: Digital Products Corporation Case Number: 97 21987 BKC-RBR Report Period Beginning: 5/1/97 Ending: 5/31/97 BANK: Barnett Bank ACCT NAME: Digital Products Corporation ACCT NUMBER: 3890-051269 PURPOSE OF ACCOUNT: Payroll Account Beginning Balance $ 23,696.76 Total of Deposits Made 0.00 Wire Transfer Comerica Opr Acct 23,681.76 Service Charges 15.00 Closing Balance $ 0.00 Account Closed BANK: Barnett Bank ACCT NAME: Digital Products Corporation ACCT NUMBER: 3871-248247 PURPOSE OF ACCOUNT: Section 125S Plan Beginning Balance $ 5,215.27 Total of Deposits Made 0.00 Wire Transfer Comerica Opr Acct 5,200.27 Service Charges 15.00 Closing Balance $ 0.00 Account Closed BANK: Barnett Bank ACCT NAME: Digital Products Corporation ACCT NUMBER: 3890-051251 PURPOSE OF ACCOUNT: Employee Benefit/Medical Beginning Balance $ 2,497.82 Total of Deposits Made 0.00 Wire Transfer Comerica Opr Acct 2,482.82 Service Charges 15.00 Closing Balance $ 0.00 Account Closed ATTACHMENT 4 MONTHLY BANK RECONCILIATIONS DEBTOR: Digital Products Corporation Case Number: 97 21987 BKC-RBR Report Period Beginning: 5/1/97 Ending: 5/31/97 BANK: Comerica Bank & Trust BRANCH: Boca Raton ACCT NAME: Digital Products Corporation ACCT NUMBER: 1811006541 PURPOSE OF ACCOUNT: Payroll Account Beginning Balance $ 1,456.14 Total of Deposits Made 50,699.60 Wires in Total Amount of Checks Written 50,351.81 Service Charges Payroll Depot 440.14 Service Charges 18.25 Transfers to Other Accounts 0.00 Closing Balance $ 1,345.54 Number of First Check Written This Period 126 Number of Last Check Written This Period 188 Total Number of Checks Written This Period 63 Plus one Manual Check 1 Total 74 Plus Direct Deposits 55 Items Void Ck # 128(Boden) -1 Reverse 1 Direct Deposit(Angulo) -1 Total 117 Items BANK: Comerica Bank & Trust BRANCH: Boca Raton ACCT NAME: Digital Products Corporation ACCT NUMBER: 1811006558 PURPOSE OF ACCOUNT: Tax Account Beginning Balance $ 834.66 Total of Deposits Made 20,304.90 Wires in Total Amount of Checks Written 20,320.20 Wires out Service Charges 13.55 Transfers to Other Accounts 0.00 Closing Balance $ 805.81 ATTACHMENT 5 CHECK REGISTER DEBTOR: Digital Products Corporation Case Number: 97-21987 BKC-RBR Report Period Beginning: 5/1/97 And Ending: 5/31/97 NAME OF BANK: Comerica Bank & Trust ACCOUNT NAME: Digital Products Corporation ACCOUNT #: 1811006533 PURPOSE OF ACCOUNT: Operating Account
Date Check # Payee Purpose Amount 5/1/97 1040 Seitlin & Co. Dep. on Insurance $ 3,750.00 1041 void 1042 void 5/6/97 1043 Victor Flores Computer Programmer 712.50 5/6/97 1044 KBS Rent 5,000.00 5/6/97 1045 Express Personnel Subcontract Labor 416.95 1046 void 5/6/97 1047 Dadan Packaging Shipping Supplies 122.65 5/21/97 1048 Elec. Monit Systems Batteries 3,741.91 5/6/97 1049 Industrial Assembly Strap Kit Assemblies 2,770.00 5/6/97 1050 Precision Dynamics Wristlet Straps 272.00 5/7/97 1051 American Stk Trans Transfer Agent 1,600.00 5/7/97 1052 Pitney Bowes CC Mail Meter Lease PMT 814.08 1053 void 5/9/97 1054 Stor & Lock Lease for Storage 1,142.00 5/9/97 1055 Genesee County ret of ck rec in error 1,622.00 5/9/97 1056 Office Depot Supplies 111.42 5/9/97 1057 Industrial Assembly Strap Kit Assemblies 2,770.00 5/7/97 1058 Dadan Packaging Shipping supplies 529.00 5/12/97 1059 Poe & Brown H/I May Stmt 1,320.98 5/12/97 1060 Riscorp of FL WC Insurance 1,226.66 5/12/97 1061 Reliance Standard LTD Insurance 64.71 5/12/97 1062 Victor Flores Computer Programmer 150.00 1063 void 1064 void 5/12/97 1065 Andy Saucedo Installer(subcontractor) 90.00 5/12/97 1066 Albani Laporte Installer(subcontractor) 446.75 5/12/97 1067 Dale English Installer(subcontractor) 210.00 5/12/97 1068 Frank Garner Installer(subcontractor) 300.00 5/12/97 1069 Dan Farley Installer(subcontractor) 260.00 5/12/97 1070 Renata Batteries Batteries 3,026.45 5/13/97 1071 LCI International Deposit - Phones 22,000.00 5/13/97 1072 Robert Grindell Computer Programmer 1,200.00 5/14/97 1073 Industrial Assembly Strap Kit Assemblies 2,770.00 5/14/97 1074 Office Depot Supplies 38.73 5/12/97 1075 Holland & Knight Patent Renewals 6,750.00 5/16/97 1076 American Stk Trans Transfer Agent 400.00 1077 void 1078 void 5/23/97 1079 Riscorp of VA VA WC Insurance 10.16 5/20/97 1080 LCI International Long Distance Phone 22,291.80 5/23/97 1081 Victor Flores Computer Programmer 1,200.00 5/23/97 1082 Automated Bus SYS Computer Programmer 195.00 5/23/97 1083 American Stk Trans Transfer Agent 1,200.00
DEBTOR: Digital Products Corporation Case Number: 97-21987 BKC-RBR Report Period Beginning: 5/1/97 And Ending: 5/31/97 NAME OF BANK: Comerica Bank & Trust ACCOUNT NAME: Digital Products Corporation ACCOUNT #: 1811006533 PURPOSE OF ACCOUNT: Operating Account
Date Check # Payee Purpose Amount 5/23/97 1084 Dadan Packaging Boxes/Gloves $ 566.75 5/23/97 1085 Don Clunk Computer Programmer 100.00 5/20/97 1086 Janice Grate Mileage 21.70 5/23/97 1087 United Parcel Serv Shipper 85E-131 162.45 5/19/97 1088 Renata Batteries Batteries 3,009.25 5/21/97 1089 United Parcel Serv Freight 3,641.19 5/21/97 1090 TCG Phone Chg/Deposit 4,718.46 5/22/97 1091 Liberty Court Travel Travel Computer Cons. 1,270.00 5/22/97 1092 Liberty Court Travel Travel Bryan Brown 635.00 5/22/97 1093 Richard Angulo Off Sup/Tele/Entertain 1,189.31 1094 void 5/27/97 1095 Chuck Nora Advance for 2 month 1,388.47 car rent 5/27/97 1096 Jesus Mijares Installer(subcontractor) 90.00 5/27/97 1097 Frank Garner Installer(subcontractor) 315.00 5/27/97 1098 Albani Laporte Installer(subcontractor) 507.25 5/27/97 1099 Andy Saucedo Installer(subcontractor) 20.00 5/27/97 1100 Dale English Installer(subcontractor) 270.00 5/27/97 1101 Dan Farley Installer(subcontractor) 220.00 5/27/97 1102 Industrial Assembly Strap Kit Assemblies 2,770.00 5/27/97 1103 Renata Batteries Batteries 2,970.00 5/27/97 1104 Chuck Nora Computer Programmer 1,000.00 5/27/97 1105 Telogy Lease on Test Equip. 131.44 5/27/97 1106 Victor Flores Computer Programmer 375.00 5/28/97 1107 Seitlin & Co. Binder Gen'l Liability 12,700.00 5/28/97 1108 Ikon Off Solutions Roller for Fax Machine 238.50 5/30/97 1109 American Design Dep Contract Services 3,900.00 5/30/97 1110 American Design Advance Comp Services 456.00 5/30/97 1111 Audrey Loeb Mileage 42.16 5/30/97 1112 Richard Angulo Travel Advance 1,500.00 $134,733.68
ATTACHMENT 5 CHECK REGISTER DEBTOR: Digital Product Corporation Case Number: 97-21987 BKC-RBR Report Period Beginning: 5/1/97 and Ending: 5/31/97 NAME OF BANK: Comerica Bank & Trust ACCOUNT NAME: Digital Products ACCOUNT #: 1811005541 PURPOSE OF ACCOUNT: Payroll Account
Date Check # Payee Purpose Amount 5/2/97 126-137+11 direct dep Employees Payroll $ 9,018.95 5/9/97 138-149+11 direct dep Employees Payroll 8,232.59 1 Manual check Richard Angulo Payroll 925.37 5/16/97 150-161+11 direct dep Employees Payroll 8,775.02 5/23/97 162-173+11 direct dep Employees Payroll 9,279.95 5/30/97 174-188+11 direct dep Employees Payroll 14,540.41 Sub Total Payroll Depot 50,772.29 5/2/97 void ck # 128 Derek Boden 420.48 May Payroll Depot Serv. Chg. 440.14 Grand Total $50,791.95
ATTACHMENT 5 DEPOSIT REGISTER DEBTOR: Digital Products Corporation Case Number: 97-21987 BKC - RBR Report Period Beginning: 5/1/97 and Ending: 5/31/97 NAME OF BANK: Comerica Bank & Trust ACCOUNT NAME: Digital Products Corporation ACCOUNT #: 1811006558 PURPOSE OF ACCOUNT: Tax Account
Date Check # Payee Purpose Amount 5/2/97 wire transfer Comerica Tax Account payroll taxes $ 3,510.42 5/9/97 wire transfer Comerica Tax Account payroll taxes 3,178.97 5/15/97 wire transfer Comerica Tax Account payroll taxes 3,211.78 5/22/97 wire transfer Comerica Tax Account payroll taxes 3,568.41 5/30/97 wire transfer Comerica Tax Account payroll taxes 6,835.32 $20,304.90
ATTACHMENT 6a Monthly Tax Report DEBTOR: Digital Products Corporation Case Number: 97-21987 BKC - RBR Reporting Period Beginning: 5/1/97 and Ending: 5/31/97
TAXES PAID DURING MONTH Date Bank Description Amount 5/2/97 Comerica Bank FED WH $ 1,545.53 FICA 1,425.04 MEDICARE 333.28 FUTA 23.02 VA WH 28.18 FL SUTA 155.37 $ 3,510.42 5/9/97 Comerica Bank FED WH $ 1,349.74 FICA 1,361.00 MEDICARE 318.30 FUTA 15.71 VA WH 28.18 FL SUTA 106.04 $ 3,178.97 5/16/97 Comerica Bank FED WH $ 1,363.44 FICA 1,367.80 MEDICARE 319.90 FUTA 19.07 VA WH 28.18 FL SUTA 128.69 $ 3,227.08 5/23/97 Comerica Bank FED WH $ 1,561.29 FICA 1,468.98 MEDICARE 343.57 FUTA 17.27 MI WH 50.76 VA WH 28.18 MI SUTA 18.17 FL SUTA 80.19 $ 3,568.41 5/30/97 Comerica Bank FED WH $ 3,191.83 FICA 2,432.80 MEDICARE 568.95 FUTA 42.70 VA WH 160.68 MI WH 25.38 NE WH 179.44 MI SUTA 18.17 NE SUTA 67.31 FL SUTA 148.06 $ 6,835.32 TOTAL $20,320.20 ATTACHMENT 6b DEBTOR: Digital Products Corporation Case Number: 97-21987 BKC - RBR 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 return filed 4/27/97. Period: 1st Quarter 1997
Name of Taxing Date Payment Description Amount Authority Due Fed Taxes 05/02/97 Fed WH/Fica/MedCare $ 3,303.85 Pd Fed Taxes 05/09/97 Fed WH/Fica/MedCare 3,029.04 Pd Fed Taxes 05/16/97 Fed WH/Fica/MedCare 3,051.14 Pd Fed Taxes 05/23/97 Fed WH/Fica/MedCare 3,373.84 Pd FedTaxes 05/30/97 Fed WH/Fica/MedCare 6,193.58 Pd FUTA 06/30/97 Fed unemployment tax 257.42 SUTA 06/30/97 FL unemployment tax 1,561.33 VA WH 06/30/97 VA WH 389.00 MI WH 06/30/97 MI WH 76.14 MI SUTA 06/30/97 MI SUTA 36.34 NE WH 06/30/97 NE WH 179.44 NE SUTA 06/30/97 NE SUTA 67.31
ATTACHMENT 7 SUMMARY OF PERSONNEL & INSURANCE COVERAGES Name of Debtor: Digital Products Corporation Case Number: 97-21987 BKC - RBR Report Period Beginning: 5/1/97 and Ending 5/31/97 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 $7,153.85 $1,500.00 Jane Gomez Secretary 5,769.25 Michael Luther CEO/Chairman 1,153.85 Bryan Brown CFO/Secy 1,538.46
PERSONNEL REPORT Full Time Part Time Number of employees at beginning of period 18 4 Number hired during the period 3 Number terminated during the period 2 Number of employees on payroll at the end of period 21 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 6/4/97 305-279-7870 VA Riscorp Dade Underwriters 40076 WC 3/1/98 6/4/97 954-462-1304 Reliance Stand. Mahoney & Asso. LTD097814 LTD 8/1/97 6/4/97 Life Insurance 954-763-7971 Poe & Brown Mahoney & Asso. 901 Health 12/31/97 6/4/97 Benefits 954-793-7971 Gotham Ins. Seitlin Ins. MM014842- Comp. 6/1/97 Paid 305-763-6771 LP296 Gen'l Liability Nat'l Union Fire Seitlin Ins. BE9322138 Umbrella 6/1/97 Paid Ins Co of Pitt. 305-763-6771 Liability Pacific Ins. Co. Seitlin Ins. ZG0008872 Property 5/1/98 7/1/97 305-763-6771 Fidelity & Dep. Seitlin Ins. TBA Crime 5/1/98 7/1/97 305-763-6771
ATTACHMENT 8 SIGNIFICANT DEVELOPMENTS DURING REPORTING PERIOD We anticipate filing a Plan of Reorganization and Disclosure Statement on or before June 17, 1997. SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DIGITAL PRODUCTS CORPORATION Dated: June 30, 1997 BY:/S/Bryan K. Brown Bryan K. Brown, Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----