-----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, UO6Cemx3D21Teptof2bNYmT6BleEXduxb8kdXW7AQPi7AKjh2L4GpctLR51U/Tcc W2mNqY0gOhIeR+z+V25+5A== 0000943440-98-000050.txt : 19980709 0000943440-98-000050.hdr.sgml : 19980709 ACCESSION NUMBER: 0000943440-98-000050 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980630 ITEM INFORMATION: FILED AS OF DATE: 19980708 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: 98661549 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 June 30, 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 May was filed with the Bankruptcy Court on July 6, 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 5/1/98 TO 5/31/98 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: 5/1/98 and Ending: 5/31/98 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 $ 5,093.92 $ 60,846.09 2. Receipts: A. Cash Sales - - Less: Cash Refunds - - Net Cash Sales - - B. Collections on Post Petition A/R $ 243,004.64 2,850,503.90 C. Collections on Pre Petition A/R 432,498.78 D. Other Receipts 212,100.00 321,176.29 3. TOTAL RECEIPTS 455,104.64 3,604,178.97 4. TOTAL CASH AVAILABLE FOR OPERATIONS (Line 1 + Line 3) 460,198.56 3,665,025.06 5. DISBURSEMENTS A. U.S. Trustee Quarterly Fees - 11,250.00 B. Net Payroll 115,005.29 896,121.99 C. Payroll Taxes Paid 48,066.51 407,456.52 D. Sales and Use Taxes - - E. Other Taxes - 10,190.85 F. Rent 8,602.72 89,871.28 G. Other Leases 80,301.93 H. Telephone 22,352.75 302,912.17 I. Utilities - - J. Travel & Entertainment 5,478.06 192,125.80 K. Vehicle Expenses - - L. Office Supplies 8,844.34 35,574.80 M. Advertising - 13,850.57 N. Insurance (Attachment 7) 2,717.00 132,456.63 O. Purchases of Fixed Assets 2,882.56 70,581.54 P. Purchases of Inventory 11,011.50 400,802.85 Q. Manufacturing supplies - - R. Repairs and Maintenance - 1,559.21 S. Payments to Secured Creditors 86,500.00 86,500.00 T. Other Operating Expenses 102,362.24 887,093.33 (Attach List) 6. TOTAL CASH DISBURSEMENTS 413,822.97 3,618,649.47 7. ENDING CASH BALANCE (LINE 4 - LINE 6) $ 46,375.59 $ 46,375.59
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 30th day of June, 1998. ____________________ Monthly Financial Report for Business Period Beginning: 5/1/98 and Ending: 5/31/98 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 IMS, Inc. Advance 179,100.00 179,100.00 DPAC Advance 33,000.00 33,000.00 $212,100.00 $321,421.81
Monthly Financial Report for Business Period Beginning: 5/1/98 and Ending: 5/31/98 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 43.02 339.43 Barnett Bank Bank Charge Wire Transfer Fees 237.00 Operating Acct Bank Charge Service Charges 139.76 1,024.04 Payroll Acct Bank Charges Service Charges 24.04 395.43 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 11,402.55 255,388.18 Freight 4,469.40 97,709.96 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 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 6,500.00 33,556.61 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 American Stock Transfer Legal - 1,600.00 Holland & Knight Legal - 285.00 Judy Sundberg Advance 2,000.00 10,850.00 Deltec Repairs 1,663.40 Electronic Filings SEC Filing 360.00 531.00 America Online Internet 26.95 53.90 Constant Services Repairs 116.50 Argentina Consultants Consulting 13,600.00 Equipment Rentals Rentals 2,191.04 2,191.04
Monthly Financial Report for Business Period Beginning: 5/1/98 and Ending: 5/31/98 Name of Debtor: Digital Products Corporation Case Number: 97-21987-BKC-RBR Date of Petition: 4/3/97
OTHER OPERATING EXPENSES T. Snelling Advance Repay 2,253.48 2,253.48 DPAC Advance Repay 33,000.00 33,000.00 Disclosure Mailings Mailings 36,447.00 36,447.00 Thomas Deer Petty Cash 500.00 500.00 Chuck Nora Expense Advance 1,000.00 1,000.00 Victor Flores Expense Advance 1,000.00 1,000.00 Ken Virgillito Expense Advance 1,005.00 1,005.00 Total $ 102,362.24 $ 887,093.33
ATTACHMENT 1 MONTHLY ACCOUNTS RECEIVABLE AGING AND RECONCILIATION Name of Debtor: Digital Products Corporation Case Number: 97-21987 BKC RBR Reporting Period Beginning: 5/1/98 and Ending: 5/31/98 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 $ 586,414.55 Plus: Current Month New Billings 218,316.05 Less: Collections during the Month 243,004.64 End of Month Balance $ 561,725.96 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 $ 207,550.47 87,491.04 86,194.29 105,482.36 $ 531,718.16 ATTACHMENT 2 MONTHLY ACCOUNTS PAYABLE AND SECURED PAYMENTS REPORT Name of Debtor: Digital Products Corporation Case # 97-21987 BKC-RBR Reporting Period Beginning 5/1/98 and Ending 5/31/98 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-98 120 Access 2000 Computer System 7,358.00 1-Feb-98 120 Doug Hogmire Computer 1,383.55 2-Feb-98 87 AT&T Phones 3,053.88 22-Apr-98 39 St. of Hawaii Taxes 286.16 22-Apr-98 39 St. of Hawaii Taxes 2 ,451.32 13-Apr-98 48 Fed Ex Shipping 138.80 13-Apr-98 48 Fed Ex Shipping 15.00 20-Apr-98 41 Fed Ex Shipping 247.14 25-Apr-98 36 UPS Shipping 979.25 30-Apr-98 31 Acme Typewriter Office Sup. 79.04 30-Apr-98 31 Royal Mercantile Trust 2,583.56 dispute 22-Apr-98 39 Modern Time Systems Repair 93.17 03-Apr-98 58 Cort Furniture Rent 134.96 01-May-98 30 Telnet Data Supplies 1,800.00 23-Apr-98 7 O'Donnell Ficenec Tax Prep. 8,500.00 15-Apr-98 15 Worldtech Computers Office Sup. 242.24 10-Apr-98 20 Gevalia Kaffee Office Sup. 31.85 20-Apr-98 41 DAS Consulting Repair 530.00 17-Apr-98 44 Comguard Repair 11,625.00 14-Apr-98 47 Monroe County Probation Equip 2,560.00 01-Apr-98 60 TCG Telephone 7,008.44 01-May-98 31 Telnet Data Group Supplies 1,800.00 30-Apr-98 31 Reliable Office Supplies Supplies 153.04 16-May-98 15 Telogy Supplies 131.44 Stock Electronics Supplies 3,404.92 30-Apr-98 31 Peggy Conway Employee Expenses 633.33 01-May-98 30 Peggy Conway Employee Expenses 133.80 01-May-98 30 Peggy Conway Employee Expenses 137.56 05-May-98 25 Peggy Conway Employee Expenses 31.69 06-May-98 24 Richard Angulo Employee Expenses 50.00 08-May-98 22 Richard Angulo Employee Expenses 174.99 11-May-98 19 Richard Angulo Employee Expenses 232.78 10-May-98 20 Richard Angulo Employee Expenses 395.24 13-May-98 17 Don Rokusek Employee Expenses 169.08 18-May-98 12 Richard Angulo Employee Expenses 914.76 20-May-98 11 Jeff Serbin Employee Expenses 248.31 01-May-98 31 Reliance Standard Life Insurance 40.13 15-May-98 16 MEBA Insurance 4,152.68 15-May-98 16 AFCO Insurance 1,268.95 11-Mar-98 81 Cort Furniture Rent 10.00
ATTACHMENT 2 MONTHLY ACCOUNTS PAYABLE AND SECURED PAYMENTS REPORT Name of Debtor: Digital Products Corporation Case # 97-21987 BKC-RBR Reporting Period Beginning 5/1/98 and Ending 5/31/98
04-Apr-98 57 Cort Furniture Rent 10.00 05-May-98 26 XiNETix Rent 6,000.47 06-May-98 25 Cort Furniture Rent 10.00 06-May-98 25 Cort Furniture Rent 10.00 20-May-98 11 Key Leasing Rent 1,500.00 29-May-98 2 XiNETix Rent 6,088.50 31-May-98 US Post Office Rent 58.00 02-May-98 30 Cort Furniture Rent 134.96 04-May-98 27 FP&L 59.91 01-May-98 30 UPS Shipping 1,146.57 08-May-98 22 UPS Shipping 1,982.14 15-May-98 16 UPS Shipping 2,783.58 22-May-98 09 UPS Shipping 2,112.78 29-May-98 02 UPS Shipping 1,657.62 13-Mar-98 79 FEDEX Shipping 80.25 16-Mar-98 76 FEDEX Shipping 185.79 27-Apr-98 34 FEDEX Shipping 227.61 04-May-98 27 FEDEX Shipping 472.11 11-May-98 20 FEDEX Shipping 292.15 19-May-98 12 FEDEX Shipping 136.50 30-Apr-98 31 State of California Tax 553.00 12-Jan-98 139 IKON 345.62 01-May-98 30 AT&T Telephone Conf Telephone 519.12 04-May-98 27 Deltec 1,128.30 30-Apr-98 32 Nextel 92.88 20-May-98 41 Network Solutions Misc 100.00 01-May-98 31 TCG Telephone 4,722.48 23-May-98 08 LCI Int'l Telephone 20.59 25-May-98 06 US West Telephone 443.33 01-May-98 31 PageNet Telephone 820.39 23-Jan-98 128 David Bower Contract Labor 200.00 02-May-98 30 Steve Makk Contract Labor 7,060.00 04-May-98 28 Sandra Umana Contract Labor 40.00 08-May-98 24 Am. Design Contract Labor 540.00 14-May-98 16 Liberty Court Contract Labor 268.88 15-May-98 16 Am. Design Contract Labor 486.00 01-May-98 31 Acct Resources Contract Labor 853.73 17-May-98 14 Comguard Contract Labor 1,625.00 18-May-98 13 Steve Makk Contract Labor 3,407.50 22-May-98 09 Am. Design Contract Labor 486.00 28-May-98 3 DAS Consulting Contract Labor 265.00 20-Feb-98 69 Dean Witter Professional Fees 67.45 01-Apr-98 61 Am. Stock Transfer Professional Fees 1,600.00 30-Apr-98 31 US Trustee Professional Fees 3,750.00 01-May-98 31 Am. Stock Transfer Professional Fees 1,600.00 15-May-98 16 Statewide Invest. Professional Fees 12.00 18-May-98 13 Holland & Knight Professional Fees 4,625.00 18-May-98 13 Frogs Professional Fees 223.65
ATTACHMENT 2 MONTHLY ACCOUNTS PAYABLE AND SECURED PAYMENTS REPORT Name of Debtor: Digital Products Corporation Case # 97-21987 BKC-RBR Reporting Period Beginning 5/1/98 and Ending 5/31/98 21-May-98 10 Electronic Filings Professional Fees 171.00 11-May-98 20 Holland & Knight Professional Fees 2,905.00 09-May-98 22 CSC Professional Fees 172.50 19-May-98 12 Renata Batteries Office Supplies 3,010.40 01-May-98 31 KBS Rent 1,000.00 15-May-98 16 Albani Luporte Contract Wages 741.55 15-May-98 16 Frank Garner Contract Wages 435.00 29-May-98 2 Seitland Insurance Insurance 9,555.00 $ 144,129.37
ACCOUNTS PAYABLE RECONCILIATION (Post Petition Only): Opening Balance (total from prior report) $ 44,478.13 Plus: New Indebtedness Incurred This Month 101,522.01 Less: Amount Paid on Prior Accounts Payable 1,870.77 End of Month Balance 144,129.37 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 5/1/98 and Ending 5/31/98 INVENTORY REPORT INVENTORY BALANCE AT PETITION DATE: $148,780.63 INVENTORY RECONCILIATION: Inventory Balance at Beginning of Month $ 138,040.63 Inventory Purchased during Month 11,011.50 Inventory Used or Sold - Inventory on Hand at End of Month $ 149,052.13 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 $ 419,069.00 Less: Depreciation Expense 34,963.00 Plus: New Purchases Less: Disposed Under Lease Rejection Ending Monthly Balance $384,106.00 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: 5/1/98 Ending: 5/31/98 BANK: Comerica Bank & Trust BRANCH: Boca Raton ACCT NAME: Digital Products Corporation ACCT NUMBER: 1811006533 PURPOSE OF ACCOUNT: Operating Account Beginning Balance $ 3,380.87 Total of Deposits Made 455,104.64 Total Amount of Checks/Wires 270,870.02 Service Charges 139.76 Transfers to Other Accounts 144,199.09 Closing Balance $ 43,276.64 Number of First Check Written This Period 2076 Number of Last Check Written This Period 2140 Total Number of Checks Written This Period 65 Total Number of Wire Transfers 4 Voided Checks This Period 5 Total BANK: Comerica Bank & Trust BRANCH: Boca Raton ACCT NAME: Digital Products Corporation ACCT NUMBER: 1811006541 PURPOSE OF ACCOUNT: Payroll Account Beginning Balance $ 592.19 Total of Deposits Made 96,132.58 Transfers in Total Amount of Checks Written 41,654.60 Service Charges Payroll Depot 437.75 Service Charges 24.04 Transfers to Other Accounts 52,587.27 Closing Balance $ 2,021.11 Number of First Check Written This Period 829 Number of Last Check Written This Period 913 Total Number of Checks Written This Period 84 Plus Manual Checks 3 Total 87 Plus Direct Deposits 82 Items Total 169 Items ATTACHMENT 4 MONTHLY BANK RECONCILIATION DEBTOR: Digital Products Corporation Case # 97 21987 BKC-RBR Report Period Beginning: 5/1/98 Ending: 5/31/98 BANK: Comerica Bank & Trust BRANCH: Boca Raton ACCT NAME: Digital Products Corporation ACCT NUMBER: 1811006558 PURPOSE OF ACCOUNT: Tax Account Beginning Balance $ 1,120.86 Total of Deposits Made 48,066.51 Transfers in Total Amount of Checks Written 48,066.51 Transfers out Service Charges 43.02 Transfers to Other Accounts Closing Balance $ 1,077.84 ATTACHMENT 5 CHECK REGISTER DEBTOR: Digital Products Corporation Case # 97-21987 BKC-RBR Report Period Beginning: 5/1/98 And Ending: 5/31/98 NAME OF BANK: Comerica Bank & Trust ACCOUNT NAME: Digital Products Corporation ACCOUNT #: 1811006533 PURPOSE OF ACCOUNT: Operating Account
Date Check # Payee Purpose Amount 2076 Void 5/01/98 2077 Seitland Insurance General Liability Insurance 2,717.00 5/04/98 2078 Industrial Assembly Straps 4,760.00 5/04/98 2079 Judy Sundberg Expenses 1,382.49 5/05/98 2080 Renatta Batteries Supplies 3,010.40 5/05/98 2081 Sandra Umana Contract Labor 40.00 5/05/98 2082 Charles Nora Expenses 574.55 5/05/98 2083 Travis Snellings Expenses 821.30 5/05/98 2084 Corey McKenzie Office Supplies 21.30 5/05/98 2085 Liberty Court Travel Travel 6,200.00 5/06/98 2086 Office Max Office Supplies 20.52 5/07/98 Wire Victor Flores Salary 20,000.00 5/07/98 2087 American Design Contract Labor 486.00 5/07/98 2088 Doug Hogmire Expenses 2,335.03 5/07/98 2089 Travis Snellings Expenses 936.45 5/07/98 2090 Richard Angulo Travel Reimb 216.94 5/07/98 2091 Apple Rubber Products Expenses 3.44 5/07/98 2092 Electronic Filings SEC Filings 360.00 5/07/98 2093 Holland & Knight Canadian Patent 165.00 5/07/98 2094 North Valley Computer Repair 262.70 5/07/98 2095 United Parcel Service Freight 1,374.12 5/07/98 2096 Abe Miranda Wages 69.52 5/07/98 2097 Statewide Investigation Background Checks 63.60 5/07/98 2098 LCI International Long Distance 2,006.70 5/07/98 2099 Charles P Nora Travel Advance 1,000.00 5/07/98 2100 Victor Flores Travel Advance 1,000.00 5/07/98 2101 Thomas A Deer Petty Cash 500.00 2102 Void 5/07/98 2103 Federal Express Freight 1,218.52 5/08/98 2104 Self Storage Storage Unit 1,162.00 5/08/98 2105 LCI International Long Distance 15,994.33 5/08/98 2106 Ken Virgillito Travel Advance 705.00 5/08/98 2107 Access 2000 Computers 1,000.00 5/11/98 2108 Office Depot Office Supplies 565.32 5/11/98 2109 United Parcel Service Freight 1,280.72 5/11/98 2110 XiNetix Rent 6,311.72 5/11/98 2111 US West Telephones 101.61 5/11/98 2112 Federal Express Freight 596.04 5/11/98 2113 Telogy Equipment Rental 394.32 5/11/98 2114 AT&T Teleconference Teleconference 519.12 5/14/98 2115 Subway Office Expense 18.21 5/14/98 2116 Bank of Kaukauna Creditor Settlement 50,000.00 5/14/98 2117 Bank of Kaunkauna Creditor Settlement 36,500.00 5/14/98 2118 Brenda McNair Wages 78.96
ATTACHMENT 5 CHECK REGISTER DEBTOR: Digital Products Corporation Case # 97-21987 BKC-RBR Report Period Beginning: 5/1/98 And Ending: 5/31/98 NAME OF BANK: Comerica Bank & Trust ACCOUNT NAME: Digital Products Corporation ACCOUNT #: 1811006533 PURPOSE OF ACCOUNT: Operating Account
Date Check # Payee Purpose Amount 5/14/98 2119 Craig Thompson Wages 189.09 5/14/98 2120 Industrial Assembly Inventory (straps) 4,760.00 5/14/98 2121 Steve Makk Contract Wages 9,700.00 5/18/98 2122 Mike Luther Advance 3,500.00 5/18/98 2123 US West Telephones 452.12 5/18/98 Wire Repay DPAC Loan Loan Payment 33,000.00 5/19/98 2124 American Stock Transfer Bankruptcy Mailing Labels 1,000.00 5/19/98 2125 Trammel Crow Rent 1,129.00 2126 Void 2129 Void 5/19/98 2128 Apple Rubber Products Office Supplies 317.92 5/20/98 WIRE Repay TAS Loan Loan Payment 250.00 5/20/98 2129 Judy Sundberg Travel Advance 2,000.00 5/20/98 2130 Travis Snellings Expenses 735.42 5/20/98 2131 Evaco Bankruptcy Mailing 35,447.00 5/21/98 2132 Liberty Court Travel Travel Support 276.43 5/20/98 2133 Computer USA Zag Drives 1,763.84 5/21/98 2134 Nextel Telephones 1,890.00 5/22/98 Wire Repay TAS Loan Loan Payment 2,253.48 5/26/98 2135 Mike Luther Advance 3,000.00 5/26/98 2136 Ken Virgillito Travel Advance 300.00 5/27/98 2137 Liberty Court Travel Airfare 493.55 5/27/98 2138 Access 2000 Computer Supplies 270.00 2139 5/29/98 2140 Foam Factory Shipping Supplies 1,509.00 2141 Void Total $ 271,009.78
ATTACHMENT 5 CHECK REGISTER DEBTOR: Digital Product Corporation Case #: 97-21987 BKC-RBR Report Period Beginning: 5/1/98 and Ending: 5/31/98 NAME OF BANK: Comerica Bank & Trust ACCOUNT NAME: Digital Products ACCOUNT #: 1811005541 PURPOSE OF ACCOUNT: Payroll Account
Date Check # Payee Purpose Amount 5/1/98 829-844+16 direct dep Employees Payroll $ 17,059.41 5/7/98 845-863+15 direct dep Employees Payroll 19,083.76 5/15/98 864-881+15 direct dep Employees Payroll 18,609.10 5/21/98 882-897+18 direct dep Employees Payroll 19,532.97 5/26/98 898-913+18 direct dep Employees Payroll 20,191.96 Sub Total Payroll 94,477.20 March Payroll Depot Serv. Chg. 269.48 Grand Total $ 94,746.68
ATTACHMENT 5 CHECK REGISTER DEBTOR: Digital Products Corporation Case # 97-21987 BKC - RBR Report Period Beginning: 5/1/98 and Ending: 5/31/98 NAME OF BANK: Comerica Bank & Trust ACCOUNT NAME: Digital Products Corporation ACCOUNT #: 1811006558 PURPOSE OF ACCOUNT: Tax Account
Date Check # Payee Purpose Amount 5/1/98 transfer Payroll Depot payroll taxes $ 21,415.55 5/8/98 transfer Payroll Depot payroll taxes 9,141.88 5/15/98 transfer Payroll Depot payroll taxes 8,718.68 5/26/98 transfer Payroll Depot payroll taxes 8,790.90 $ 48,066.51
ATTACHMENT 6a Monthly Tax Report DEBTOR: Digital Products Corporation Case # 97-21987 BKC - RBR Reporting Period Beginning: 5/1/98 and Ending: 5/31/98 TAXES PAID and ACCRUED DURING MONTH
Date Bank Description Amount 5/1/98 Comerica Bank FED WH $10,595.43 FICA 6,747.60 MEDICARE 1,685.54 FUTA 88.60 IN WH 125.54 MN WH 43.16 NE WH 1,254.82 MD WH 225.86 MI WH 61.60 IN SUTA 25.84 FL SUTA 423.56 MD SUTA 83.16 MI SUTA 29.08 MN SUTA 25.86 $21,415.55 5/8/98 Comerica Bank FED WH $4,433.67 FICA 2,961.54 MEDICARE 791.10 FUTA 50.29 IN WH 62.77 MD WH 112.93 MI WH 30.80 MN WH 21.58 NE WH 350.43 FL SUTA 252.21 MD SUTA 37.15 MI SUTA 14.54 MN SUTA 12.93 IN SUTA 12.92 $9,141.38
ATTACHMENT 6a Monthly Tax Report DEBTOR: Digital Products Corporation Case # 97-21987 BKC - RBR Reporting Period Beginning: 5/1/98 and Ending: 5/31/98 TAXES PAID and ACCRUED DURING MONTH
Date Bank Description Amount 5/15/98 Comerica Bank FED WH $4,177.53 FICA 2,884.24 MEDICARE 728.07 FUTA 51.74 IN WH 62.77 MD WH 112.93 MI WH 30.80 MN WH 21.58 NE WH 265.85 FL SUTA 320.17 MD SUTA 37.15 MI SUTA 12.12 MN SUTA .81 IN SUTA 12.92 $8,718.68 5/22/98 Comerica Bank FED WH $4,080.01 FICA 3,031.24 MEDICARE 762.47 FUTA 50.19 IN WH 62.77 MD WH 112.93 MI WH 30.80 MN WH 21.58 NE WH 266.13 FL SUTA 334.32 MD SUTA 9.73 MN SUTA 12.93 NE SUTA 2.88 IN SUTA 12.92 $8,790.90
ATTACHMENT 6a Monthly Tax Report DEBTOR: Digital Products Corporation Case # 97-21987 BKC - RBR Reporting Period Beginning: 5/1/98 and Ending: 5/31/98 TAXES PAID and ACCRUED DURING MONTH
Date Bank Description Amount 5/29/98 Comerica Bank FED WH $4,340.59 FICA 3,119.50 MEDICARE 783.10 FUTA 37.75 IN WH 62.77 MD WH 112.93 MI WH 30.80 MN WH 21.58 NE WH 271.60 FL SUTA 241.40 MN SUTA 3.82 NE SUTA 8.72 IN SUTA 12.92 $9,047.46
ATTACHMENT 6b DEBTOR: Digital Products Corporation Case # 97-21987 BKC - RBR Report Period Beginning: 5/1/98 and Ending: 5/31/98 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 707.29 FL SUTA 07/31/98 FL unemployment 1,813.13 IN SUTA 07/31/98 IN unemployment 167.96 MD SUTA 07/31/98 MD unemployment 411.34 MI SUTA 07/31/98 MI unemployment 383.30 MN SUTA 07/31/98 MN unemployment 162.79 NE SUTA 07/31/98 NE unemployment 128.00 WA SUTA 07/31/98 WA unemployment 64.62 FED WH 07/15/98 FED WH 4,340.59 FICA 07/15/98 FICA 3,119.50 MEDICARE 07/15/98 MEDICARE 783.10 IN WH 07/15/98 IN WH 62.77 MD WH 07/15/98 MD WH 112.93 MI WH 07/15/98 MI WH 30.80 MN WH 07/15/98 MN WH 21.58 NE WH 07/15/98 NE WH 271.60
ATTACHMENT 7 SUMMARY OF PERSONNEL & INSURANCE COVERAGES Name of Debtor: Digital Products Corporation Case # 97-21987 BKC - RBR Report Period Beginning: 5/1/98 and Ending 5/31/98 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 $ 8,934.60 $ - Michael Luther CEO/Chairman 9,230.80 - Bryan Brown CFO/Secy 1,538.46 -
PERSONNEL REPORT Full Time Part Time Number of employees at beginning of period 28 - Number hired during the period - 1 Number converted to full time - - Number terminated during the period - - Number of employees on payroll at the end of period 28 1 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 Zenith Alexander & Alex 12924 WC 4/1/99 4/1/99 305-279-7870 Zenith Dade Underwriters 40076 WC 3/1/99 3/1/99 954-462-1304 Reliance Stand. Mahoney & Asso. LTD097814 LTD 7/1/98 6/15/98 Life Insurance 954-763-7971 Gotham Ins. Seitlin Ins. MM014842LP296 Comp. Gen'l 6/1/98 6/1/98 305-591-0090 Liability Nat'l Union Fire Seitlin Ins. BE9327676 Umbrella 6/1/98 6/1/98 Ins. Co. of Pitt. 305-591-0090 Liability Pacific Ins. Co. Seitlin Ins. ZG0008872 Property 5/1/99 paid 305-591-0090 Fidelity & Dep. Seitlin Ins. CCP0033867 Crime 5/1/99 paid 305-591-0090 Mutual of Midwest Emp. Ben. 266 MBPT Health & Dental 10/1/98 paid Omaha
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