-----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, Bg01F/c4rCXyM0sbLJn4wR5RBUOz60lilDZnqwBrfvtKfTeRvyaBmDpWUPkTT/72 651+4CjzyExHfETo6bJDVw== 0000943440-98-000038.txt : 19980522 0000943440-98-000038.hdr.sgml : 19980522 ACCESSION NUMBER: 0000943440-98-000038 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980519 ITEM INFORMATION: FILED AS OF DATE: 19980521 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: 98629418 BUSINESS ADDRESS: STREET 1: 3001 SW 10TH STREET CITY: POMPANO BEACH STATE: FL ZIP: 33069 BUSINESS PHONE: 8006707790 MAIL ADDRESS: STREET 1: 3001 SW 10TH STREET CITY: POMANO BEACH STATE: FL ZIP: 33069 8-K 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K Commission File No.: 0-9503 Current Report May 19, 1998 (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) (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 April was filed with the Bankruptcy Court on May 1, 1998. 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 4/1/98 TO 4/30/98 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: 4/1/98 and Ending:4/30/98 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 $ 3,137.11 $ 60,846.09 2. Receipts: A. Cash Sales - - Less: Cash Refunds - - Net Cash Sales - - B. Collections on Post Petition A/R 319,411.40 2,607,499.26 C. Collections on Pre Petition A/R 49,500.23 432,498.78 D. Other Receipts - 109,076.29 3. TOTAL RECEIPTS 368,911.63 3,149,074.33 4. TOTAL CASH AVAILABLE FOR OPERATIONS (Line 1 + Line 3) 372,048.74 3,209,920.42 5. DISBURSEMENTS A. U.S. Trustee Quarterly Fees - 11,250.00 B. Net Payroll 77,256.42 781,116.70 C. Payroll Taxes Paid 35,888.46 359,390.01 D. Sales and Use Taxes - - E. Other Taxes - 10,190.85 F. Rent 18,183.85 81,268.56 G. Other Leases 8,064.77 80,301.93 H. Telephone 39,624.60 280,559.42 I. Utilities - - J. Travel & Entertainment 23,900.26 186,647.74 K. Vehicle Expenses - - L. Office Supplies 5,469.19 26,730.46 M. Advertising - 13,850.57 N. Insurance (Attachment 7) 15,282.33 129,739.63 O. Purchases of Fixed Assets 4,374.36 67,698.98 P. Purchases of Inventory 13,083.22 389,791.35 Q. Manufacturing supplies - - R. Repairs and Maintenance - 1,559.21 S. Payments to Secured Creditors - - T. Other Operating Expenses 125,827.36 784,758.04 (Attach List) 6. TOTAL CASH DISBURSEMENTS 366,954.82 3,204,826.50 7. ENDING CASH BALANCE (LINE 4 - LINE 6) $ 5,093.92 $ 5,093.92
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 19th day of May 1998. ____________________ Monthly Financial Report for Business Period Beginning: 4/1/98 and Ending:4/30/98 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 - 1,197.38 Genesee County Payment in Error - 1,622.00 COD Supplies/Other - 2,357.37 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 NASDAQ Refund - 4,000.00 Judy Sundberg Advance - 8,850.00 Synergy Media Draw on Trust Funds - 20,000.00 IMS, Inc. Reimburse Expenses - 30,000.00 Void checks 245.52 $ - $109,076.29
Monthly Financial Report for Business Period Beginning: 4/1/98 and Ending:4/30/98 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 Acct Bank Charge Service Charges 296.41 Barnett Bank Bank Charge Wire Transfer Fees 162.00 237.00 Operating Acct Bank Charge Service Charges 27.50 984.28 Payroll Acct Bank Charges Service Charges 17.80 371.39 Kinko's Copies for Tracking - 654.67 Postage Next Day Mailing - 56.75 Subcontractors Installers - 29,933.63 Corporate License Fees - 330.00 Computer Programmer - 43,475.48 Subcontractors Labor 62,065.29 243,985.63 Freight 11,014.20 93,240.56 Transfer Agent/Other - 38,875.25 Patent Renewals - 13,289.00 Refund (ck Rec in Error) - 6,362.20 Advance Payment Repayment - 24,900.00 Various Medical Claims - 2,451.88 Subcontractors Computer Supplies - 498.18 S. Kapila Interim CFO - 10,469.05 L. Martin Commission - 1,000.00 T. Snellings Consult/Comm - 24,708.30 Various Network Support - 10,534.33 Various Move Expense - 7,006.60 SGSG Advance - 18,786.09 Competatech/Others Training 327.52 3,056.91 Employees Mileage - 168.44 Employees 125s Reimbursement - 2,588.00 Corporate Systems CCSN Deposit - 61,612.96 Mike Luther Expense Reimb/Adv 14,500.00 27,056.61 Peggy Conway Expense Advance - 2,000.00 USCF Fees - 500.00 Various Deposits - 40,500.00 EMS Commission - 2,843.25 Bank of Kaukauna Utah lease - 15,044.63 Transfer to IMS Expense Reimburse 25,000.00 25,000.00 American Stock Transfer Legal 1,600.00 1,600.00 Holland & Knight Legal 285.00 285.00 Judy Sundberg Advance 8,850.00 8,850.00 Deltec Repairs 1,663.40 1,663.40 Electronic Filings SEC Filing 171.00 171.00 America Online Internet 26.95 26.95 Constant Services Repairs 116.50 116.50 Argentina Consultants consulting _________ 13,600.00 Total $125,827.36 $784,757.84
ATTACHMENT 1 MONTHLY ACCOUNTS RECEIVABLE AGING AND RECONCILIATION Name of Debtor:Digital Products Corporation Case Number: 97-21987 BKC RBR Reporting Period Beginning:4/1/98and Ending:4/30/98 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 $ 756,593.56 Plus: Current Month New Billings 198,732.62 Less: Collections during the Month 368,911.63 End of Month Balance $ 586,414.55 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 $259,355.23 97,348.04 114,028.45 95,167.10 $565,868.82 ATTACHMENT 2 MONTHLY ACCOUNTS PAYABLE AND SECURED PAYMENTS REPORT Name of Debtor: Digital Products Corporation Case # 97-21987 BKC-RBR Reporting Period Beginning 4/1/98 and Ending 4/30/98 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 1-Feb-98 89 Access 2000 Computer System 8,358.00 1-Feb-98 89 Doug Hogmire Computer 1,383.55 2-Feb-98 56 AT&T Phones 3,053.88 22-Apr-98 8 St. of Hawaii Taxes 286.16 22-Apr-98 8 St. of Hawaii Taxes 2,451.32 20-Apr-98 10 Fed Ex Shipping 138.80 20-Apr-98 10 Fed Ex Shipping 15.00 27-Apr-98 3 Fed Ex Shipping 247.14 25-Apr-98 5 UPS Shipping 979.25 30-Apr-98 Acme Typewriter Office Sup. 79.04 30-Apr-98 Royal Mercantile Trust 2,583.56 22-Apr-98 8 Modern Time Systems Repair 93.17 03-Apr-98 27 Cort Furniture 134.96 07-Apr-98 23 Telnet Data Shipping 11.50 23-Apr-98 7O 'Donnell Ficenec Tax Prep. 1,656.00 15-Apr-98 15 Worldtech Computers Office Sup. 242.24 10-Apr-98 20 Gevalia Kaffee Office Sup. 31.85 30-Apr-98 Albani Laporte Contr. Labor 407.15 20-Apr-98 10 DAS Consulting Repair 530.00 17-Apr-98 3 Comguard Repair 11,625.00 14-Apr-98 16 Monroe County Probation Equip 2,560.00 01-Apr-98 29 TCG Telephone 7,008.44 16-Apr-98 14 US West Telephone 452.12 $ 44,478.13
ACCOUNTS PAYABLE RECONCILIATION (Post Petition Only): Opening Balance (total from prior report) $140,631.41 Plus: New Indebtedness Incurred This Month 28,478.82 Less: Amount Paid on Prior Accounts Payable 124,632.10 End of Month Balance $ 44,478.13 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 4/1/98 and Ending 4/30/98 INVENTORY REPORT INVENTORY BALANCE AT PETITION DATE: $148,780.63 INVENTORY RECONCILIATION: Inventory Balance at Beginning of Month $124,957.41 Inventory Purchased during Month 13,083.22 Inventory Used or Sold - Inventory on Hand at End of Month $138,040.63 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 $454,032.00 Less: Depreciation Expense 34,963.00 Plus: New Purchases Less: Disposed Under Lease Rejection Ending Monthly Balance $419,069.00 BRIEF DESCRIPTION OF FIXED ASSETS PURCHASED OR DISPOSED OF DURING THE REPORTING PERIOD: ATTACHMENT 4 MONTHLY BANK RECONCILIATIONS DEBTOR: Digital Products Corporation Case #97 21987 BKC-RBR Report Period Beginning: 4/1/98 Ending: 4/30/98 BANK: Comerica Bank & Trust BRANCH: Boca Raton ACCT NAME: Digital Products Corporation ACCT NUMBER: 1811006533 PURPOSE OF ACCOUNT: Operating Account Beginning Balance $ 2,823.30 Total of Deposits Made 361,305.99 Total Amount of Checks/Wires 260,847.18 Service Charges 189.50 Transfers to Other Accounts 99,711.74 Closing Balance $ 3,380.87 Number of First Check Written This Period 1970 Number of Last Check Written This Period 2075 Total Number of Checks Written This Period 104 Total Number of Wire Transfers 10 Voided Checks This Period 3 Total 117 BANK: Comerica Bank & Trust BRANCH: Boca Raton ACCT NAME: Digital Products Corporation ACCT NUMBER: 1811006541 PURPOSE OF ACCOUNT: Payroll Account Beginning Balance $ 237.95 Total of Deposits Made 71,379.22 Transfers in Total Amount of Checks Written 70,713.67 Service Charges Payroll Depot 288.04 Service Charges 23.27 Transfers to Other Accounts 0.00 Closing Balance $ 592.19 Number of First Check Written This Period 774 Number of Last Check Written This Period 828 Total Number of Checks Written This Period 54 Plus Manual Checks 0 Total 50 Plus Direct Deposits 56 Items Total 106 Items ATTACHMENT 4 MONTHLY BANK RECONCILIATION DEBTOR: Digital Products Corporation Case #97 21987 BKC-RBR Report Period Beginning: 4/1/98 Ending: 4/30/98 BANK: Comerica Bank & Trust BRANCH: Boca Raton ACCT NAME: Digital Products Corporation ACCT NUMBER: 1811006558 PURPOSE OF ACCOUNT: Tax Account Beginning Balance$ 75.86 Total of Deposits Made 77,783.05 Transfers in Total Amount of Checks Written 76,683.05 Transfers out Service Charges 55.00 Transfers to Other Accounts 0.00 Closing Balance $ 1,120.86 ATTACHMENT 5 CHECK REGISTER DEBTOR: Digital Products Corporation Case # 97-21987 BKC-RBR Report Period Beginning: 4/1/98 And Ending: 4/30/98 NAME OF BANK: Comerica Bank & Trust ACCOUNT NAME: Digital Products Corporation ACCOUNT #: 1811006533 PURPOSE OF ACCOUNT: Operating Account
Date Check # Payee Purpose Amount 4/1/98 1970 Telnet Data Group Repair Parts 695.36 4/1/98 1971 Mesa Alexander Contract Labor 75.00 4/2/98 1972 Global Comp. Concept COS Computer 479.00 4/2/98 1973 Jeff Serbin Reim. Repair Parts 726.30 4/3/98 1974 US Postmaster Postage 96.00 4/3/98 1975 American Design Contract Labor 1,876.02 4/3/98 1976 Judy Sundberg Repay Advance 8,850.00 4/3/98 1977 Doug Hogmire Expenses 881.22 4/3/98 1978 Chuck Nora Expenses 1,113.43 4/3/98 1979 Ken Virgillito Expenses 739.65 4/3/98 1980 Peggy Conway Expenses 1,861.84 4/3/98 1981 United Parcel Service Freight 1,733.13 4/3/98 1982 MEBA Health & Dental Ins. 4,735.93 4/3/98 1983 Riscorp Ins Workcomp 1,702.56 4/3/98 1984 Constant Services Repairs 116.50 4/3/98 1985 LCI International Long Distance 593.96 4/3/98 1986 LCI International Long Distance 14,502.58 4/3/98 1987 TCG Local Telephone 2,308.25 4/3/98 1988 Competatech Training 168.75 4/3/98 1989 Competatech Training 98.77 4/3/98 1990 Gard Distributing Repair Parts 98.83 4/3/98 1991 Penny Woods Expenses 33.48 4/3/98 1992 Bryan Brown Travel, Computer, etc 2,756.00 4/3/98 1993 Craig Thompson Toner Cartridge 74.19 4/3/98 1994 Judy Sundberg Expenses 391.49 4/6/98 1995 Mike Luther Expense Reimb/Adv 10,000.00 4/2/98 1996 Trammel Crow Rent 939.00 4/6/98 Wire SMA, Inc Engineering 15,907.07 4/6/98 Wire KBS, Inc Rent 5,000.00 4/6/98 Wire Wire transfer fee Bank Charge 30.00 4/6/98 1997 XiNetix Rent 6,287.87 4/6/98 1998 FedEx Freight 1,572.55 4/6/98 1999 US West Telephones 620.77 4/6/98 2000 Electronic Filings SEC Filing 171.00 4/6/98 2001 Alvin Cohn Expenses 182.30 4/6/98 2002 Carl Marjolis Consulting 693.75 4/6/98 2003 Accounting Resources Contract Labor 717.20 4/6/98 2004 Judy Sundberg Expenses 672.81 4/6/98 2005 Judy Sundberg Expenses 142.00 4/6/98 2006 Bryan Brown Expenses 1,772.88 4/6/98 2007 Liberty Court Airfare, Subcontract 2,802.00 4/7/98 2008 Holland & Knight Patent 285.00 4/7/98 2009 Deltec Repairs 1,663.40 4/7/98 2010 United Parcel Service Freight 2,134.47
ATTACHMENT 5 CHECK REGISTER DEBTOR: Digital Products Corporation Case # 97-21987 BKC-RBR Report Period Beginning: 4/1/98 And Ending: 4/30/98 NAME OF BANK: Comerica Bank & Trust ACCOUNT NAME: Digital Products Corporation ACCOUNT #: 1811006533 PURPOSE OF ACCOUNT: Operating Account
Date Check # Payee Description Amount 4/7/98 2011 Self Storage Storage Unit 1,142.00 4/7/98 2012 American Stock Tra. Fees 1,600.00 4/7/98 2013 Sandra Umana Contract Labor 80.00 4/7/98 2014 Industrial Assembly Straps 4,760.00 4/7/98 2015 FedEx Freight 288.75 4/7/98 2016 Office Max Supplies 22.34 2017 Void 4/7/98 2018 Liberty Court Travel Airfare 4,983.00 4/7/98 2019 Travis Snellings Consulting 1,145.83 4/8/98 2020 Travis Snellings Expenses 525.03 4/10/98 2021 Liberty Court Travel Telemarketing 500.00 4/13/98 2022 Doug Hogmire Expenses 957.40 4/13/98 2023 Ken Virgillito Expenses 43.85 4/13/98 2024 Peggy Conway Travel 51.78 4/13/98 2025 Abe Miranda Travel 6.72 4/13/98 2026 Reliance Std. Life Insurance 36.41 4/13/98 2027 Paging Network FL Telephone 263.73 4/13/98 2028 American Design Contract Labor 2,197.59 4/13/98 2029 Renata Batteries Supplies 3,051.95 4/13/98 2030 Reliable Office Prod. Supplies 288.57 4/13/98 2031 Triple S Transport Freight 1,480.83 4/13/98 2032 Judy Sundberg Expenses 247.57 4/13/98 2033 Charles Nora Expenses 642.93 4/13/98 2034 Richard Angulo Expenses 4,817.78 4/13/98 2035 Access 2000 Computers 1,000.00 4/13/98 2036 Cort Furniture Travel 134.90 4/13/98 Wire KBS, SMA, DPC Bank charges 45.00 4/14/98 2037 Liberty Court Travel Travel 2,275.54 4/15/98 2038 Frogs Printing 118.75 4/16/98 2039 Ken Virgillito Contract Wages 75.00 4/16/98 2040 Victor Flores Contract Wages 2,425.00 4/16/98 2041 Daden Packaging Freight 2,116.00 4/16/98 2042 Neph Rodriquez Travel Advance 2,100.00 4/16/98 2043 MSC Industrial Supply Supplies 80.78 4/17/98 2044 American Design Contract Wages 1,960.83 4/17/98 2045 Judy Sundberg Travel 68.03 4/17/98 2046 Frank Garner Contract Wages 640.00 4/17/98 2047 Albani Laporte III Contract Wages 908.62 4/17/98 2048 Richard Angulo Expenses 2,802.37
ATTACHMENT 5 CHECK REGISTER DEBTOR: Digital Products Corporation Case # 97-21987 BKC-RBR Report Period Beginning: 4/1/98 And Ending: 4/30/98 NAME OF BANK: Comerica Bank & Trust ACCOUNT NAME: Digital Products Corporation ACCOUNT #: 1811006533 PURPOSE OF ACCOUNT: Operating Account
Date Check # Payee Description Amount 4/22/98 2049 Office Depot` Supplies 295.55 4/22/98 2050 P.C. Solutions Contract Wages 124.00 4/22/98 Wire Travis Snelling Travel 2,000.00 4/22/98 Wire Doug Hogmire Wages 2,000.00 4/22/98 Wire Wire fee Bank Charges 60.00 4/22/98 Wire KBS Rent 5,000.00 4/22/98 Wire Steve Makk Contract Wages 10,000.00 4/23/98 2051 TCG Telephone 2,338.39 4/23/98 2052 LCI International Telephone 13,770.08 4/23/98 2053 UPS Freight 2,961.77 4/23/98 2054 MEBA Rent 4,506.11 4/23/98 2055 Noel Bryan Supplies 17.00 4/23/98 2056 Annette Chandler Travel 26.95 4/23/98 2057 American Desgin Contract Wages 486.00 4/23/98 2058 Judy Sundberg Wages 2,128.26 4/23/98 2059 Pencietta Woods Wages 411.79 4/23/98 2060 Memcon Rent 1,000.00 2061 Void 4/24/98 Wire Victor Flores Contract Labor 5,000.00 4/24/98 Wire Wire fee Bank Charges 15.00 4/24/98 2062 Office Max Supplies 100.07 4/24/98 2063 US Postal Service Postage 9.48 4/24/98 2064 Key Leasing Auto lease 500.00 4/27/98 2065 Liberty Court Travel Travel 1,546.00 4/27/98 2066 Memcon Rent 1,000.00 4/27/98 2067 UPS Freight 842.70 4/27/98 2068 Access 2000 Computer 1,000.00 4/27/98 Wire XiNetix Rent 6,183.85 4/28/98 2069 Liberty Court Travel Travel 2,281.00 4/28/98 Wire IMS Intercompany 25,000.00 4/28/98 Wire Wire Fees Bank Charges 60.00 4/30/98 2070 US Postmaster Postage 96.00 4/30/98 2071 Midwest Employee Benefits Admin. Insurance 4,301.32 4/30/98 2072 Mike Luther Advance 4,500.00 4/30/98 2073 Richard Angulo Wages 1,287.15 4/30/98 2074 Steve Makk Contract Wages 16,128.38 4/30/98 AW America Online Internet Access 26.95 2075 Void Total $ 260,847.18
ATTACHMENT 5 CHECK REGISTER DEBTOR: Digital Product Corporation Case #: 97-21987 BKC-RBR Report Period Beginning: 4/1/98 and Ending: 4/30/98 NAME OF BANK: Comerica Bank & Trust ACCOUNT NAME: Digital Products ACCOUNT #: 1811005541 PURPOSE OF ACCOUNT: Payroll Account
Date Check # Payee Purpose Amount 4/6/98 786-797+17 direct dep Employees Payroll $16,120.10 4/10/98 798-811+16 direct dep Employees Payroll 15,981.11 4/17/98 812-828+16 direct dep Employees Payroll 17,691.13 4/23/98 1 direct dep Employee Payroll 2,960.77 4/24/98 829-844+16 direct dep Employees Payroll 18,676.11 Sub Total Payroll 71,429.22 March Payroll Depot Serv. Chg. 288.04 Grand Total $71,717.26
ATTACHMENT 5 CHECK REGISTER DEBTOR: Digital Products Corporation Case #97-21987 BKC - RBR Report Period Beginning: 4/1/98 and Ending: 4/30/98 NAME OF BANK: Comerica Bank & Trust ACCOUNT NAME: Digital Products Corporation ACCOUNT #: 1811006558 PURPOSE OF ACCOUNT: Tax Account
Date Check # Payee Purpose Amount 4/6/98 transfer Payroll Depot payroll taxes $ 7,751.00 4/10/98 transfer Payroll Depot payroll taxes 7,605.64 4/17/98 transfer Payroll Depot payroll taxes 9,154.58 4/23/98 transfer Payroll Depot payroll taxes 1,139.34 4/24/98 transfer Payroll Depot payroll taxes 9,137.90 $34,788.46
ATTACHMENT 6a Monthly Tax Report DEBTOR: Digital Products Corporation Case #97-21987 BKC - RBR Reporting Period Beginning: 4/1/98 and Ending: 4/30/98 TAXES PAID and ACCRUED DURING MONTH
Date Bank Description Amount 4/6/98 Comerica Bank FED WH $3,523.99 FICA 2,695.40 MEDICARE 630.42 FUTA 57.24 IN WH 62.77 MN WH 21.58 NE WH 316.67 MD WH 42.66 MI WH 30.80 IN SUTA 12.92 FL SUTA 243.24 MD SUTA 21.23 MI SUTA 14.54 MN SUTA 12.93 NE SUTA 32.20 WA SUTA 32.31 $7,751.00 4/10/98 Comerica Bank FED WH $3,485.85 FICA 2,671.78 MEDICARE 624.84 FUTA 50.13 IN WH 62.77 MD WH 42.66 MI WH 30.80 MN WH 21.58 NE WH 316.67 FL SUTA 222.25 MD SUTA 21.23 MI SUTA 14.54 MN SUTA 12.93 IN SUTA 12.92 NE SUTA 2.94 $7,605.64
ATTACHMENT 6a Monthly Tax Report DEBTOR: Digital Products Corporation Case #97-21987 BKC - RBR Reporting Period Beginning: 4/1/98 and Ending: 4/30/98 TAXES PAID and ACCRUED DURING MONTH
Date Bank Description Amount 4/17/98 Comerica Bank FED WH $4,339.01 FICA 3,042.15 MEDICARE 711.47 FUTA 58.61 IN WH 62.77 MD WH 124.35 MI WH 30.80 MN WH 21.58 NE WH 429.90 FL SUTA 215.08 MD SUTA 63.69 MI SUTA 14.54 MN SUTA 12.93 NE SUTA 14.70 IN SUTA 12.92 $9,154.50 4/23/98 Comerica Bank FED WH $4,338.62 FICA 3,047.17 MEDICARE 739.10 FUTA 48.38 IN WH 62.77 MD WH 101.51 MI WH 30.80 MN WH 21.58 NE WH 408.11 FL SUTA 236.67 MD SUTA 53.08 MI SUTA 14.54 MN SUTA 12.93 NE SUTA 9.80 IN SUTA 12.92 $9,137.98
ATTACHMENT 6a Monthly Tax Report DEBTOR: Digital Products Corporation Case #97-21987 BKC - RBR Reporting Period Beginning: 4/1/98 and Ending: 4/30/98 TAXES PAID and ACCRUED DURING MONTH
Date Bank Description Amount 4/24/98 Comerica Bank FED WH $1,023.08 MEDICARE 116.26 $1,139.34 Total $34,788.46
ATTACHMENT 6b DEBTOR: Digital Products Corporation Case #97-21987 BKC - RBR Report Period Beginning: 4/1/98 and Ending: 4/30/98 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 1/31/98. Period: 4th Quarter returns
Name of Taxing Date Payment Description Amount Authority Due FUTA 07/31/98 Fed unemployment tax 214.36 IN WH 05/15/98 IN WH 302.76 MD WH 05/15/98 MD WH 311.18 MI WH 05/15/98 MI WH 123.20 MN WH 05/15/98 MN WH 86.32 NE WH 05/15/98 NE WH 1,471.35 FL SUTA 07/31/98 FL unemployment 917.24 IN SUTA 07/31/98 IN unemployment 51.68 MD SUTA 07/31/98 MD unemployment 159.23 MI SUTA 07/31/98 MI unemployment 58.16 MN SUTA 07/31/98 MN unemployment 51.72 NE SUTA 07/31/98 NE unemployment 59.64 WA SUTA 07/31/98 WA unemployment 32.31
ATTACHMENT 7 SUMMARY OF PERSONNEL & INSURANCE COVERAGES Name of Debtor: Digital Products Corporation Case #97-21987 BKC - RBR Report Period Beginning: 4/1/98 and Ending 4/30/98 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 $13,455.52$ - Michael Luther CEO/Chairman 9,230.80 - Bryan Brown CFO/Secy 6,165.38 -
PERSONNEL REPORT Full Time Part Time Number of employees at beginning of period 26 2 Number hired during the period 2 1 Number converted to full time - - Number terminated during the period - - Number of employees on payroll at the end of period 28 3 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 3/2/98 305-279-7870 VA Riscorp Dade Underwriters 40076 WC 3/1/98 paid 954-462-1304 Reliance Stand. Mahoney & Asso. LTD097814 LTD 8/1/97 5/2/98 Life Insurance 954-763-7971 Gotham Ins. Seitlin Ins. MM014842LP296 Comp. Gen'l 6/1/98 paid 305-591-0090 Liability Nat'l Union Fire Seitlin Ins. BE9327676 Umbrella 6/1/98 paid Ins. Co. of Pitt. 305-591-0090 Liability Pacific Ins. Co. Seitlin Ins. ZG0008872 Property 5/1/98 paid 305-591-0090 Fidelity & Dep. Seitlin Ins. CCP0033867 Crime 5/1/98 paid 305-591-0090 Mutual of Midwest Emp. Ben. 266 MBPT Health & Dental 10/1/98 paid Omaha
ATTACHMENT 8 SIGNIFICANT DEVELOPMENTS DURING REPORTING PERIOD The Company filed its Third Plan of Reorganization and Disclosure Statement on April 7, 1998. On May 14, 1998 an Order approving the Third Amendend Disclosure Statement was approved by the United States Bankruptcy Court Southern District of Florida. The Confirmation Hearing for the Plan of Reorganization has been scheduled for July 1, 1998. Bryan Brown, Chief Financial Office, submitted his resignation effective April 22, 1998. -----END PRIVACY-ENHANCED MESSAGE-----