EX-99.3 5 ex99-3.htm Exhibit 99.3

In re Farmland Pipe Line, Inc.                                                                                                                          Case No. 02-50565
 

MONTHLY OPERATING REPORT SUMMARY

FOR THE MONTH OF JUNE, 2003

REVENUE

Gross Income

 $                      -  

Less Cost of Goods Sold

 $       (31,457.67)

Materials

 $                        -  

Direct Labor

 $                        -  

Overhead

 $         (31,457.67)

Gross Profit

 $        31,457.67 

OPERATING EXPENSES

Owner/Officer-Draws/Salaries

 $                        -  

Other Employee Salaries

 $                        -  

Advertising and Marketing

 $                        -  

Insurance

 $                        -  

Payroll Taxes

 $                        -  

Lease and Rent

 $                        -  

Telephone and Utlities

 $                        -  

Attorney and other Professional Fees

 $                        -  

UST Quarterly Fees

 $                        -  

Other Expenses-includes income tax expense and other income

 $          12,583.07 

Total Operating Expenses

$       12,583.07 

Net Income (Loss)

$       18,874.60 

CURRENT ASSETS

Accounts Receivable at end of month

 $       164,580.68 

Increase (Decrease) in AR for month

 $     (135,105.22)

Inventory at end of month

 $                       -  

Increase (Decrease) in Inventory for month

 $                       -  

Cash at end of the month

 $                       -  

Increase (Decrease) in Cash for month

 $                       -  

LIABILITIES

Increase (Decrease) in pre-petition debt

 $                       -  

Increase (Decrease) in post-petition debt

 $        (88,745.85)

Taxes Payable:

Federal Payroll Taxes

 $                        -  

State Payroll Taxes

 $                        -  

Local Payroll Taxes

 $                        -  

State Sales Taxes

 $                        -  

Real Estate and Personal

 $                        -  

Property Taxes

 $                        -  

Other (footnote)

 $       (521,085.89)

Total Taxes Payable

 $     (521,085.89)

Footnote:

Fed Income Tax (Pre)

 $      (336,732.38)

Fed Income Tax (Post)

 $      (184,353.51)