-----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, IMaATGvnHFkkUJC5mvyHskgS3FbPgSaQfpLaPuexauAtukcGDzR0lVnoVJofwJ3L SV/WspRqbTUdfBzdAmC2Rw== 0001116502-01-501061.txt : 20010831 0001116502-01-501061.hdr.sgml : 20010831 ACCESSION NUMBER: 0001116502-01-501061 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20010820 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20010830 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GERALD STEVENS INC/ CENTRAL INDEX KEY: 0000037525 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 650971499 STATE OF INCORPORATION: FL FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-05531 FILM NUMBER: 1727772 BUSINESS ADDRESS: STREET 1: PO BOX 350526 CITY: FT LAUDERDALE STATE: FL ZIP: 33335-0526 BUSINESS PHONE: 9547135000 MAIL ADDRESS: STREET 1: 301 EAST LAS OLAS BLVD STREET 2: SUITE 300 CITY: FT LAUDERDALE STATE: FL ZIP: 33301 FORMER COMPANY: FORMER CONFORMED NAME: FLORAFAX INTERNATIONAL INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: SPOTTS FLORAFAX CORP DATE OF NAME CHANGE: 19740924 FORMER COMPANY: FORMER CONFORMED NAME: SPOTTS MAILING CORP DATE OF NAME CHANGE: 19671205 8-K 1 geraldstevens8k.txt CURRENT REPORT SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 20, 2001 --------------- GERALD STEVENS, INC. --------------------- (Exact name of registrant as specified in its charter) Florida 0-05531 65-0971499 --------------- ---------------------- --------------- (State or other (Commission File (IRS Employer jurisdiction of Number) Identification No.) incorporation) 1800 Eller Drive, Fort Lauderdale, Florida 33316 ------------------------------------------------ (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: 954/627-1000 Item 5. Other Events (a) As previously announced, on April 23, 2001, Gerald Stevens, Inc. filed voluntary petitions for itself and certain of its subsidiaries (the "Debtors") under Chapter 11 of the United States Bankruptcy Code (the "Bankruptcy Code") in the United States Bankruptcy Court in Miami, Florida (the "Chapter 11 Cases"). The Chapter 11 Cases have been substantively consolidated, and the cases are being administered jointly. The Debtors continue to operate the business and manage their property as debtors-in-possession pursuant to sections 1107 and 1108 of the Bankruptcy Code. On August 20, 2001, the Debtors submitted to the Bankruptcy Court their Monthly Financial Report for Business (the "Report") for the period beginning July 1, 2001 and ending July 31, 2001, and for the period beginning April 23, 2001 and ending July 31, 2001. A copy of the Report (excluding attachments filed with the Report) is attached hereto as Exhibit 99.1 and the Report is incorporated herein by reference. (b) As previously reported, on July 10, 2001, we sold substantially all of the assets and liabilities of our Florafax wire service business unit to Teleflora LLC for $10.71 million in cash and the assumption of certain liabilities. Previously, on June 13, 2001, the Florafax entities (the "Florafax Debtors") filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court in Miami, Florida. On August 20, 2001, the Florafax Debtors submitted to the Bankruptcy Court their Monthly Financial Report for Business (the "Florafax Report") for the period beginning June 14, 2001 and ending June 30, 2001, and for the period beginning July 1, 2001 and ending July 31, 2001. A copy of the Florafax Report (excluding attachments filed with the Florafax Report) is attached hereto as Exhibit 99.2 and the Florafax Report is incorporated herein by reference. Item 7. Financial Statements, Pro Forma Financial Statements, and Exhibits (c) Exhibits. Exhibit No. Description - ---------- ----------- 99.1 Monthly Financial Report For Business (excluding attachments) of Debtors for the period beginning July 1, 2001 and ending July 31, 2001, and for the period beginning April 23, 2001 and ending July 31, 2001 99.2 Monthly Financial Report For Business (excluding attachments) of Florafax Debtors for the period beginning June 14, 2001 and ending June 30, 2001, and for the period beginning July 1, 2001 and ending July 31, 2001 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed by the undersigned, thereunto duly authorized. GERALD STEVENS, INC. (Registrant) By /s/ WAYNE MOOR -------------------------------- Wayne Moor Senior Vice President and Chief Financial Officer Dated: August 30, 2001 GERALD STEVENS, INC. Current Report on Form 8-K Exhibit Index Exhibit Index Description - ------------- ----------- 99.1 Monthly Financial Report For Business (excluding attachments) of Debtors for the period beginning July 1, 2001 and ending July 31, 2001, and for the period beginning April 23, 2001 and ending July 31, 2001 99.2 Monthly Financial Report For Business (excluding attachments) of Florafax Debtors for the period beginning June 14, 2001 and ending June 30, 2001, and for the period beginning July 1, 2001 and ending July 31, 2001 EX-99.1 3 ex99-1.txt MONTHLY FINANCIAL REPORT FOR BUSINESS OF DEBTORS GERALD STEVENS, INC. and SUBSIDIARIES EXHIBIT 99.1 CASE NUMBERS 01-13984 BKC-RAM through 01-14039-BKC-RAM MONTHLY FINANCIAL REPORT
-------------- --------------------- FOR THE PERIOD BEGINNING 7/1/01 AND ENDING 7/31/01 -------------- --------------------- CURRENT MONTH CORPORATE ROYERS NAT. FLORA --------- ------ ---------- 1 CASH AT BEGINNING OF PERIOD (1,574,462.04) 445,319.17 11,569.78 2 RECEIPTS A Cash Sales 2,449,497.77 220,440.61 - Less Cash Refunds (5,392.99) (7,809.03) - ---------------------------------------------------------- Net Cash Sales 2,444,104.78 212,631.58 - B Collections of Postpetition AR (Incl CC) 7,958,240.13 881,149.89 63,520.32 C Collections of Prepetition AR 399,610.70 59,445.30 - D Other Receipts 2,533,757.28 418,782.57 - Intercompany cash transfers, Net (104,363.98) (402,584.98) 21,691.41 ---------------------------------------------------------- 3 TOTAL RECEIPTS 13,231,348.91 1,169,424.36 85,211.73 ---------------------------------------------------------- 4 TOTAL CASH AVAILABLE FOR OPERATIONS 11,656,886.87 1,614,743.53 96,781.51 5 DISBURSEMENTS A US Trustee Quarterly Fees 35,750.00 - - B Net Payroll 3,892,544.56 447,576.45 - C Payroll Taxes Paid 1,274,603.41 246,249.59 - D Sales and Use Taxes Paid 584,537.25 91,953.46 - E Other Taxes Paid 40,079.66 - - F Rent 888,508.69 104,178.14 23,909.09 G Other Lease Payments 18,504.96 - 2,771.96 H Telephone 321,986.55 47,083.50 5,943.67 I Utilities 325,784.49 32,333.28 2,321.14 J Travel and Entertainment 68,997.50 3,130.85 5,323.06 K Vehicle Expense 396,075.55 31,359.06 - L Office Supplies 46,325.42 18,761.32 881.57 M Advertising 1,525,302.15 2,871.11 23,169.05 N Insurance (Attachment 7) 987,566.95 - - O Purchases of Fixed Assets 36,838.09 4,169.29 - P Purchases of Inventory 1,991,179.22 310,942.55 - Q Manufacturing Supplies 24,139.38 - - R Repairs and Maintenance 98,966.39 19,448.56 1,542.88 S Other Operating Expenses (Attach List) 592,818.37 4,275.52 3,066.32 ---------------------------------------------------------- 6 TOTAL CASH DISBURSEMENTS 13,150,508.59 1,364,332.68 68,928.74 ---------------------------------------------------------- 7 CASH AT END OF PERIOD (Item 4 Minus Item 6) (1,493,621.72) 250,410.85 27,852.77 ========================================================== [restubbed table] -------------- --------------------- FOR THE PERIOD BEGINNING 7/1/01 AND ENDING 7/31/01 -------------- --------------------- AGA TOTAL --- ----- 1 CASH AT BEGINNING OF PERIOD 39,931.55 (1,077,641.54) 2 RECEIPTS - A Cash Sales - 2,669,938.38 Less Cash Refunds - (13,202.02) -------------------------------------- Net Cash Sales - 2,656,736.36 B Collections of Postpetition AR (Incl CC) 263,959.90 9,166,870.24 C Collections of Prepetition AR - 459,056.00 D Other Receipts - 2,952,539.85 Intercompany cash transfers, Net 485,257.55 (0.00) -------------------------------------- 3 TOTAL RECEIPTS 749,217.45 15,235,202.45 -------------------------------------- 4 TOTAL CASH AVAILABLE FOR OPERATIONS 789,149.00 14,157,560.91 5 DISBURSEMENTS A US Trustee Quarterly Fees - 35,750.00 B Net Payroll - 4,340,121.01 C Payroll Taxes Paid - 1,520,853.00 D Sales and Use Taxes Paid - 676,490.71 E Other Taxes Paid - 40,079.66 F Rent 17,997.41 1,034,593.33 G Other Lease Payments 839.23 22,116.15 H Telephone 3,909.07 378,922.79 I Utilities 8,309.10 368,748.01 J Travel and Entertainment 1,013.95 78,465.36 K Vehicle Expense 5,207.72 432,642.33 L Office Supplies 4,156.29 70,124.60 M Advertising - 1,551,342.31 N Insurance (Attachment 7) - 987,566.95 O Purchases of Fixed Assets - 41,007.38 P Purchases of Inventory 698,165.97 3,000,287.74 Q Manufacturing Supplies 1,817.21 25,956.59 R Repairs and Maintenance 4,365.56 124,323.39 S Other Operating Expenses (Attach List) 2,042.17 602,202.38 -------------------------------------- 6 TOTAL CASH DISBURSEMENTS 747,823.68 15,331,593.69 -------------------------------------- 7 CASH AT END OF PERIOD (Item 4 Minus Item 6) 41,325.32 (1,174,032.78) ======================================
GERALD STEVENS, INC. and SUBSIDIARIES EXHIBIT 99.1 CASE NUMBERS 01-13984 BKC-RAM through 01-14039-BKC-RAM MONTHLY FINANCIAL REPORT
-------------- --------------------- FOR THE PERIOD BEGINNING 4/23/01 AND ENDING 7/31/01 -------------- --------------------- CUMULATIVE FROM FILING DATE CORPORATE CANADA ROYERS --------- ------ ------ 1 CASH AT BEGINNING OF PERIOD 1,799,448.84 315,845.12 172,083.10 2 RECEIPTS A Cash Sales 13,541,245.27 143,220.26 2,648,010.10 Less Cash Refunds (29,617.30) - (28,968.46) ------------------------------------------------------------- Net Cash Sales 13,511,627.97 143,220.26 2,619,041.64 B Collections of Postpetition AR (Incl CC) 26,723,100.77 184,588.02 2,802,739.56 C Collections of Prepetition AR 4,526,297.70 - 1,359,730.71 D Other Receipts 5,158,767.94 - 974,630.78 Intercompany cash transfers, Net (313,693.05) - (2,116,224.86) ------------------------------------------------------------- 3 TOTAL RECEIPTS 49,606,101.33 327,808.28 5,639,917.83 ------------------------------------------------------------- 4 TOTAL CASH AVAILABLE FOR OPERATIONS 51,405,550.17 643,653.40 5,812,000.93 5 DISBURSEMENTS A US Trustee Quarterly Fees 35,750.00 - - B Net Payroll 13,275,848.71 109,993.16 2,289,823.21 C Payroll Taxes Paid 4,912,734.52 2,649.36 739,930.06 D Sales and Use Taxes Paid 2,702,442.15 31,356.89 249,225.06 E Other Taxes Paid 179,177.56 - 4,802.26 F Rent 4,163,979.58 42,188.25 229,664.55 G Other Lease Payments 75,592.14 460.80 839.23 H Telephone 832,029.97 4,592.65 42,673.82 I Utilities 691,781.93 7,702.09 51,109.71 J Travel and Entertainment 239,443.99 - 4,005.72 K Vehicle Expense 1,400,696.14 6,451.61 137,715.69 L Office Supplies 165,485.76 2,398.09 67,928.20 M Advertising 4,067,316.19 6,489.35 80,352.15 N Insurance (Attachment 7) 4,139,356.31 8,214.96 - O Purchases of Fixed Assets 40,717.54 - 3,615.00 P Purchases of Inventory 8,627,971.74 206,969.35 1,581,730.57 Q Manufacturing Supplies 95,573.10 - 1,817.21 R Repairs and Maintenance 256,871.38 2,922.56 41,063.80 S Other Operating Expenses (Attach List) 6,996,403.18 211,264.28 35,293.84 ------------------------------------------------------------- 6 TOTAL CASH DISBURSEMENTS 52,899,171.89 643,653.40 5,561,590.08 ------------------------------------------------------------- 7 CASH AT END OF PERIOD (Item 4 Minus Item 6) (1,493,621.72) - 250,410.85 ============================================================= [restubbed table] -------------- --------------------- FOR THE PERIOD BEGINNING 4/23/01 AND ENDING 7/31/01 -------------- --------------------- CUMULATIVE FROM FILING DATE NAT. FLORA AGA TOTAL ---------- --- ----- 1 CASH AT BEGINNING OF PERIOD 93,826.08 19,166.46 2,400,369.60 2 RECEIPTS - A Cash Sales 136,956.52 - 16,469,432.15 Less Cash Refunds (4,711.15) - (63,296.91) -------------------------------------------------------- Net Cash Sales 132,245.37 - 16,406,135.24 B Collections of Postpetition AR (Incl CC) 124,439.81 939,438.74 30,774,306.90 C Collections of Prepetition AR 4,611.32 - 5,890,639.73 D Other Receipts - - 6,133,398.72 Intercompany cash transfers, Net (17,252.17) 2,447,170.08 - -------------------------------------------------------- 3 TOTAL RECEIPTS 244,044.33 3,386,608.82 59,204,480.59 -------------------------------------------------------- 4 TOTAL CASH AVAILABLE FOR OPERATIONS 337,870.41 3,405,775.28 61,604,850.19 5 DISBURSEMENTS A US Trustee Quarterly Fees - - 35,750.00 B Net Payroll 1,507.87 - 15,677,172.95 C Payroll Taxes Paid - - 5,655,313.94 D Sales and Use Taxes Paid - - 2,983,024.10 E Other Taxes Paid - - 183,979.82 F Rent 48,042.43 53,992.23 4,537,867.04 G Other Lease Payments 17,634.52 7,881.54 102,408.23 H Telephone 22,829.65 10,940.43 913,066.52 I Utilities 5,619.76 19,578.53 775,792.02 J Travel and Entertainment 28,626.44 4,023.57 276,099.72 K Vehicle Expense 14.18 21,390.62 1,566,268.24 L Office Supplies 11,444.34 10,002.10 257,258.49 M Advertising 83,537.21 - 4,237,694.90 N Insurance (Attachment 7) - - 4,147,571.27 O Purchases of Fixed Assets 3,746.00 1,781.75 49,860.29 P Purchases of Inventory 1,326.66 3,212,059.87 13,630,058.19 Q Manufacturing Supplies - 2,525.44 99,915.75 R Repairs and Maintenance 5,369.57 7,338.90 313,566.21 S Other Operating Expenses (Attach List) 80,319.01 12,934.98 7,336,215.29 -------------------------------------------------------- 6 TOTAL CASH DISBURSEMENTS 310,017.64 3,364,449.96 62,778,882.97 -------------------------------------------------------- 7 CASH AT END OF PERIOD (Item 4 Minus Item 6) 27,852.77 41,325.32 (1,174,032.78) ========================================================
Includes adjustment in Royer's account to correct Omission of other Deposit not reported in May 31 MOR in the amount of: $ 169,270.50 EX-99.2 4 ex99-2.txt MONTHLY FINANCIAL REPORT FOR BUSINESS OF FLORAFAX MONTHLY FINANCIAL REPORT FOR BUSINESS FOR THE PERIOD BEGINNING JUNE 14, 2001 AND ENDING JUNE 30, 2001 Name of Debtor: Florafax Financial Services, Corp. et al. Case Number: 01-16333-BKC-RAM to 01-16337-BKC-RAM Date of Petition: June 13, 2001
1 Cash at beginning of period $ (59,620.38) 2 RECEIPTS: A. Cash sales Less: cash refunds Net cash sales B Collection on postpetition AR C Collection on prepetition AR 2,356,165.28 D Other receipts 1,646.25 -------------------- 3 TOTAL RECEIPTS 2,357,811.53 4 TOTAL CASH AVAILABLE FOR OPERATIONS 2,298,191.15 5 A. US Trustee Quarterly Fee B Net payroll 138,425.33 C Net payroll taxes paid 48,695.99 D Sales and use taxes 33,551.89 E Other taxes 102.53 F Rent 10.00 G Other leases 1,335.25 H Telephone I Utilities 883.35 J Travel and entertainment 10,955.90 K Vehicle expenses L Office supplies 5,724.66 M Advertising 12,801.41 N Insurance O Purchases of fixed assets P Purchases of inventory 84,008.54 Q Manufacturing supplies R Repairs and maintenance 300.00 S Other operating expenses 28,890.04 -------------------- 6 TOTAL DISBURSEMENTS 365,684.89 -------------------- 7 TOTAL CASH DISBURSEMENTS $ 1,932,506.26 ====================
MONTHLY FINANCIAL REPORT FOR BUSINESS FOR THE PERIOD BEGINNING JULY 1, 2001 AND ENDING JULY 31, 2001 Name of Debtor: Florafax Financial Services, Corp. et al. Case Number: 01-16333-BKC-RAM to 01-16337-BKC-RAM Date of Petition: June 13, 2001
1 Cash at beginning of period $ 1,932,506.26 2 RECEIPTS: A. Cash sales Less: cash refunds Net cash sales B Collection on postpetition AR C Collection on prepetition AR 1,019,843.02 D Other receipts 11,265,295.95 * -------------------- 3 TOTAL RECEIPTS 12,285,138.97 4 TOTAL CASH AVAILABLE FOR OPERATIONS 14,217,645.23 5 A. US Trustee Quarterly Fee B Net payroll 148,807.09 C Net payroll taxes paid 53,075.65 D Sales and use taxes 696.64 E Other taxes F Rent 25,427.18 G Other leases 2,005.00 H Telephone 55,748.70 I Utilities 5,219.55 J Travel and entertainment 12,545.82 K Vehicle expenses L Office supplies 26,144.55 M Advertising 64,424.19 N Insurance O Purchases of fixed assets P Purchases of inventory 47,076.14 Q Manufacturing supplies R Repairs and maintenance 6,835.61 S Other operating expenses 13,769,639.11 ** -------------------- 6 TOTAL DISBURSEMENTS 14,217,645.23 -------------------- 7 TOTAL CASH DISBURSEMENTS $ - ====================
* Includes $10,710,000 received upon the sale of the assets and operations of the Debtor to Teleflora LLC on July 10, 2001. See Attachment 8 - Significant Developments. ** Includes $10,710,000 received from the sale of the Debtor to Teleflora LLC on July 10, 2001 that was paid to Bank of America pursuant to the terms of a credit agreement with the Debtor's parent, Gerald Stevens, Inc. See Attachment 8 - Significant Developments. -----END PRIVACY-ENHANCED MESSAGE-----