-----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, JhPi2UeKNSq72D07UJk+MNKqzoeLrTihcp4ZELSRZXdMzzzNKGtHcgOBVUDrR3jN 7Tyu9+OOVQHvxqJBXEHMFg== 0000912057-02-036503.txt : 20020920 0000912057-02-036503.hdr.sgml : 20020920 20020920163900 ACCESSION NUMBER: 0000912057-02-036503 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020801 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020920 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALLIED PRODUCTS CORP /DE/ CENTRAL INDEX KEY: 0000003941 STANDARD INDUSTRIAL CLASSIFICATION: FARM MACHINERY & EQUIPMENT [3523] IRS NUMBER: 380292230 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05530 FILM NUMBER: 02769145 BUSINESS ADDRESS: STREET 1: 10 S RIVERSIDE PLZ STREET 2: SUITE 400 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3124541020 8-K 1 a2089885z8-k.txt 8-K 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 1, 2002 ALLIED PRODUCTS CORPORATION (Exact name of registrant as specified in its charter) DELAWARE 1-5530 8-0292230 (State or other jurisdiction (Commission File Number) (I.R.S. Employer of incorporation) Identification No.) c/o R.A.D. & Associates 711 North McKinley Road, Suite 6, Lake Forest, Illinois 60045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (847) 535-9702 NOT APPLICABLE - ------------------------------------------------------------------------------ (Former name or former address, if changed since last report) ITEM 5. OTHER EVENTS On October 2, 2000, Allied Products Corporation (the "Company") filed a petition for reorganization in the United States Bankruptcy Court for the Northern District of Illinois, Eastern Division under Chapter 11 of the United States Bankruptcy Code. The Company is filing copies of its monthly United States Trustee reports under cover of Form 8-K in lieu of Forms 10-Q and 10-K. On September 12, 2002, the Company filed its August monthly United States Trustee report with the bankruptcy court. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS Exhibits 99.01 United States Trustee Report of the Company for August 2002. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Allied Products Corporation (Registrant) By: /s/ Richard A. Drexler Richard A. Drexler Chairman, President and Chief Executive & Financial Officer Dated: September 20, 2002 EX-99.1 3 a2089885zex-99_1.txt EXHIBIT 99.1 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO. 00 B 28798 SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS (1) For Month Ending August 31, 2002 BEGINNING BALANCE IN ALL ACCOUNTS $9,478,280 ---------- RECEIPTS: 1. Receipts from operations $ - ---------- 2. Other Receipts $ 19,869 ---------- 3. Preference Claims Receipts $ 119,615 ---------- 4. Sale Of Assets $ - ---------- 5. Receipt Of Escrow $ - ---------- 6. General Motors Funding $ - ---------- DISBURSEMENTS: 3. Net payroll: a. Officers $ 19,385 ---------- b. Others $ 2,081 ---------- 4. Taxes a. Federal Income Taxes $ 6,841 ---------- b. FICA withholdings $ 626 ---------- c. Employee's withholdings (2) $ 236 ---------- d. Employer's FICA $ 626 ---------- e. Federal Unemployment Taxes $ - ---------- f. State Unemployment Taxes $ 9 ---------- g. State Employee withholdings $ 840 ---------- h. All other taxes $ - ---------- 5. Necessary expenses: a. Rent or mortgage payments (s) $ 1,600 ---------- b. Utilities $ - ---------- c. Insurance $ 4,879 ---------- d. Merchandise bought for manufacture or sale $ - ---------- e. Other necessary expenses Foothill Secured Loan $ - ---------- Asset Sale Related Expenses $ - ---------- Union Closure Agreement $ - ---------- Professional/Trustee Fees $ 73,959 ---------- All Other Disbursements $ 53,227 ---------- TOTAL DISBURSEMENTS $ 164,309 ---------- NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $ (24,825) ----------- ENDING BALANCE IN LASALLE BANK N.A., ALLIED PRODUCTS D.I.P. CASE #00B28798 $ 9,433,840 ----------- OPERATING ACCOUNT: 5800272592 ENDING BALANCE IN LASALLE BANK N.A., ALLIED PRODUCTS D.I.P. CASE #00B28798 $ - ----------- PAYROLL ACCOUNT: 5800272618 ENDING BALANCE IN LASALLE BANK N.A., ALLIED PRODUCTS D.I.P. CASE #00B28798 $ 99,004 ----------- DANNEN CRANE HEYMAN SIMON SPECIAL ACCOUNT ALLIED: 8601721825 ENDING BALANCE IN LASALLE BANK N.A., ALLIED PRODUCTS D.I.P. CASE #00B28798 $ (2,102) ----------- ACCOUNTS PAYABLE DISBURSEMENTS: 5800272600 ENDING BALANCE IN LASALLE BANK N.A., VERSON CORPORATION PAYROLL ACCOUNT: 5800026501 $ - ----------- ENDING BALANCE IN ALL ACCOUNTS $ 9,530,742 ===========
(1) All information reflects cash activity per Company accounting records (2) Includes wage garnishments OPERATING REPORT Page 1 Exhibit "B" IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.:00 B 28798 RECEIPTS LISTING FOR MONTH ENDING August 31, 2002 SUMMARY OF COMPANY RECEIPTS FOR THE PERIOD OF AUGUST 1, 2002 THROUGH AUGUST 31, 2002 (1)
DATE RECEIVED DESCRIPTION AMOUNT - ------------- ----------- ------------ None General Motors $ - None Chrysler Progress Payments - None Chrysler Holdbacks - None Chrysler Repairs - None Misc. Holdbacks & Acceptances - None Verson Std. Products - None Corporate - None Receipt of Escrow - None Note Receivable - Additional Receipts - Various Employee Related/COBRA Receipts-Foothill - Various Operational Receipts - Various Sales Of Assets - Various Other Receipts 139,484 Various GM Funding - ------------ TOTAL RECEIPTS $ 139,484 ------------
(1) Please see attached pages for the detail of receipts by Company bank account OPERATING REPORT Page 2 (2 of 19) IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.:00 B 28798 RECEIPTS LISTING FOR MONTH ENDING August 31, 2002 Bank: LASALLE BANK N.A. Location: 135 SOUTH LASALLE STREET, CHICAGO, IL 60603 Account Name: ALLIED PRODUCTS D.I.P. CASE #00B28798: OPERATING ACCOUNT Account No.: 5800272592
DATE RECEIVED DESCRIPTION AMOUNT - ------------- ----------- ----------- None General Motors $ - None Chrysler Progress Payments - None Chrysler Holdbacks - None Chrysler Repairs - None Misc. Holdbacks & Acceptances - None Verson Std. Products - None Corporate - None Receipt of Escrow - None Note Receivable - Various Additional Receipts - Various Employee Related/COBRA Receipts-Foothill - Various Operational Receipts - Various Sales Of Assets - Various Other Receipts 119,869 None GM Funding - ------------ TOTAL RECEIPTS $ 119,869 ------------
Receipts may be identified by major categories. It is not necessary to list each transaction separately by name of customer or invoice number. You must, however, create a separate list for each bank account to which receipts were deposited during the month. OPERATING REPORT Page 2 (3 of 19) IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.:00 B 28798 RECEIPTS LISTING FOR MONTH ENDING August 31, 2002 Bank: LASALLE BANK N.A. Location: 135 SOUTH LASALLE STREET, CHICAGO, IL 60603 Account Name: ALLIED PRODUCTS D.I.P. CASE #00B28798: PAYROLL ACCOUNT Account No.: 5800272618
DATE RECEIVED DESCRIPTION AMOUNT - ------------- ----------- ------------ None General Motors $ - None Chrysler Progress Payments - None Chrysler Holdbacks - None Chrysler Repairs - None Misc. Holdbacks & Acceptances - None Verson Std. Products - None Corporate - None Receipt of Escrow - None Note Receivable - Additional Receipts None Employee Related/COBRA Receipts-Foothill - None Operational Receipts - None Sales Of Assets - None Other Receipts - None GM Funding - ------------ TOTAL RECEIPTS $ - ------------
Receipts may be identified by major categories. It is not necessary to list each transaction separately by name of customer or invoice number. You must, however, create a separate list for each bank account to which receipts were deposited during the month. OPERATING REPORT Page 2 (4 of 19) IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.:00 B 28798 RECEIPTS LISTING FOR MONTH ENDING August 31, 2002 Bank: LASALLE BANK N.A. Location: 135 SOUTH LASALLE STREET, CHICAGO, IL 60603 Account Name: ALLIED PRODUCTS D.I.P. CASE #00B28798: ACCOUNTS PAYABLE ACCOUNT Account No.: 5800272600
DATE RECEIVED DESCRIPTION AMOUNT ------------- ----------- ------------ None General Motors $ - None Chrysler Progress Payments - None Chrysler Holdbacks - None Chrysler Repairs - None Misc. Holdbacks & Acceptances - None Verson Std. Products - None Corporate - None Receipt of Escrow - None Note Receivable - Additional Receipts None Employee Related/COBRA Receipts-Foothill - None Operational Receipts - None Sales Of Assets - None Other Receipts - None GM Funding - ------------ TOTAL RECEIPTS $ - ------------
Receipts may be identified by major categories. It is not necessary to list each transaction separately by name of customer or invoice number. You must, however, create a separate list for each bank account to which receipts were deposited during the month. OPERATING REPORT Page 2 (5 of 19) IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.:00 B 28798 RECEIPTS LISTING FOR MONTH ENDING August 31, 2002 Bank: LASALLE BANK N.A. Location: 135 SOUTH LASALLE STREET, CHICAGO, IL 60603 Account Name: VERSON CORPORATION PAYROLL ACCOUNT Account No.: 5800026501
DATE RECEIVED DESCRIPTION AMOUNT ------------- ----------- ------------ None General Motors $ - None Chrysler Progress Payments - None Chrysler Holdbacks - None Chrysler Repairs - None Misc. Holdbacks & Acceptances - None Verson Std. Products - None Corporate - None Receipt of Escrow - None Note Receivable - Additional Receipts None Operational Receipts - None Operational Receipts-Foothill Account - None Sales Of Assets - None Other Receipts - None GM Funding - ------------ TOTAL RECEIPTS $ - ------------
Receipts may be identified by major categories. It is not necessary to list each transaction separately by name of customer or invoice number. You must, however, create a separate list for each bank account to which receipts were deposited during the month. OPERATING REPORT Page 2 (6 of 19) IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.:00 B 28798 RECEIPTS LISTING FOR MONTH ENDING August 31, 2002 Bank: LASALLE BANK N.A. Location: 135 SOUTH LASALLE STREET, CHICAGO, IL 60603 Account Name: DANNEN CRANE HEYMAN SIMON SPECIAL ACCOUNT ALLIED Account No.: 8601721825
DATE RECEIVED DESCRIPTION AMOUNT ------------- ----------- ------------ None General Motors $ - None Chrysler Progress Payments - None Chrysler Holdbacks - None Chrysler Repairs - None Misc. Holdbacks & Acceptances - None Verson Std. Products - None Corporate - None Receipt of Escrow - None Note Receivable - Additional Receipts None Operational Receipts - None Operational Receipts-Foothill Account - None Sales Of Assets - various Other Receipts 19,615 None GM Funding - ------------ TOTAL RECEIPTS $ 19,615 ------------
Receipts may be identified by major categories. It is not necessary to list each transaction separately by name of customer or invoice number. You must, however, create a separate list for each bank account to which receipts were deposited during the month. OPERATING REPORT Page 2 (7 of 19) IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.:00 B 28798 DISBURSEMENT LISTING FOR MONTH ENDING August 31, 2002 SUMMARY OF COMPANY DISBURSEMENTS FOR THE PERIOD OF AUGUST 1, 2002 THROUGH AUGUST 31, 2002
DATE DISBURSED CHECK/WIRE NO. DESCRIPTION AMOUNT - -------------- -------------- ----------- ------------ Various Various Salaries, Benefits & Insurance $ 35,523 None None Stay Bonus - None None Utilities - Various Various Rents & Leases 1,600 None None Remaining Man. Costs - None None Pre-Petition Vendor Payments - None None Real Estate Taxes - None None Asset Sale Related Expenses - None None Foothill Capital-Secured Loan - None None Union Closure Agreement - None None Parts Purchases - Various Various Professional/Trustee Fees 73,959 None None Foothill Principal Payments - None None Boeing Letter of Credit - None None Federal and State Income Taxes - None None Foothill Interest & Fees - Various Various All Other 53,227 ------------ TOTAL DISBURSEMENTS $ 164,309 ------------
(1) Please see attached pages for the detail of disbursements by Company bank account OPERATING REPORT Page 3 (8 of 19) IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.:00 B 28798 DISBURSEMENT LISTING FOR MONTH ENDING August 31, 2002 Bank: LASALLE BANK N.A. Location: 135 SOUTH LASALLE STREET, CHICAGO, IL 60603 Account Name: ALLIED PRODUCTS D.I.P. CASE #00B28798: OPERATING ACCOUNT Account No.: 5800272592
DATE DISBURSED CHECK/WIRE NO. DESCRIPTION AMOUNT - -------------- -------------- ----------- ------------ Various Various Salaries, Benefits & Insurance $ 35,523 None None Stay Bonus - None None Utilities - Various Various Rents & Leases 1,600 None None Remaining Man. Costs - None None Pre-Petition Vendor Payments - None None Real Estate Taxes - None None Asset Sale Related Expenses - None None Foothill Capital-Secured Loan - None None Union Closure Agreement - None None Parts Purchases - Various Various Professional/Trustee Fees 73,959 None None Foothill Principal Payments - None None Boeing Letter of Credit - None None Federal and State Income Taxes - None None Foothill Interest & Fees - Various Various All Other 53,227 ------------ TOTAL DISBURSEMENTS $ 164,309 ------------
You must create a separate list for each bank account for which disbursements were made during the month. OPERATING REPORT Page 3 (9 of 19) IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.:00 B 28798 DISBURSEMENT LISTING FOR MONTH ENDING August 31, 2002 Bank: LASALLE BANK N.A. Location: 135 SOUTH LASALLE STREET, CHICAGO, IL 60603 Account Name: ALLIED PRODUCTS D.I.P. CASE #00B28798: PAYROLL ACCOUNT Account No.: 5800272618
DATE DISBURSED CHECK/WIRE NO. DESCRIPTION AMOUNT - -------------- -------------- ----------- ------------ None None Salaries, Benefits & Insurance $ - None None Stay Bonus - None None Utilities - None None Rents & Leases - None None Remaining Man. Costs - None None Pre-Petition Vendor Payments - None None Real Estate Taxes - None None Asset Sale Related Expenses - None None Foothill Capital-Secured Loan - None None Union Closure Agreement - None None Parts Purchases - None None Professional/Trustee Fees - None None Foothill Principal Payments - None None Boeing Letter of Credit - None None Foothill Interest & Fees - None None All Other - ------------ TOTAL DISBURSEMENTS $ - ------------
You must create a separate list for each bank account for which disbursements were made during the month. OPERATING REPORT Page 3 (10 of 19) IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.:00 B 28798 DISBURSEMENT LISTING FOR MONTH ENDING August 31, 2002 Bank: LASALLE BANK N.A. Location: 135 SOUTH LASALLE STREET, CHICAGO, IL 60603 Account Name: ALLIED PRODUCTS D.I.P. CASE #00B28798: ACCOUNTS PAYABLE ACCOUNT Account No.: 5800272600
DATE DISBURSED CHECK/WIRE NO. DESCRIPTION AMOUNT - -------------- -------------- ----------- ------------ None None Salaries, Benefits & Insurance $ - None None Stay Bonus - None None Utilities - None None Rents & Leases - None None Remaining Man. Costs - None None Pre-Petition Vendor Payments - None None Real Estate Taxes - None None Asset Sale Related Expenses - None None Foothill Capital-Secured Loan - None None Union Closure Agreement - None None Parts Purchases - None None Professional/Trustee Fees - None None Foothill Principal Payments - None None Boeing Letter of Credit - None None Foothill Interest & Fees - None None All Other - ------------ TOTAL DISBURSEMENTS $ - ------------
You must create a separate list for each bank account for which disbursements were made during the month. OPERATING REPORT Page 3 (11 of 19) IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.:00 B 28798 DISBURSEMENT LISTING FOR MONTH ENDING August 31, 2002 Bank: LASALLE BANK N.A. Location: 135 SOUTH LASALLE STREET, CHICAGO, IL 60603 Account Name: VERSON CORPORATION PAYROLL ACCOUNT Account No.: 5800026501
DATE DISBURSED CHECK/WIRE NO. DESCRIPTION AMOUNT - -------------- -------------- ----------- ------------ None None Salaries, Benefits & Insurance $ - None None Stay Bonus - None None Utilities - None None Rents & Leases - None None Remaining Man. Costs - None None Pre-Petition Vendor Payments - None None Real Estate Taxes - None None Asset Sale Related Expenses - None None Foothill Capital-Secured Loan - None None Union Closure Agreement - None None Parts Purchases - None None Professional/Trustee Fees - None None Foothill Principal Payments - None None Boeing Letter of Credit - None None Foothill Interest & Fees - None None All Other - ------------ TOTAL DISBURSEMENTS $ - ------------
You must create a separate list for each bank account for which disbursements were made during the month. OPERATING REPORT Page 3 (12 of 19) IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.:00 B 28798 DISBURSEMENT LISTING FOR MONTH ENDING August 31, 2002 Bank: LASALLE BANK N.A. Location: 135 SOUTH LASALLE STREET, CHICAGO, IL 60603 Account Name: DANNEN CRANE HEYMAN SIMON SPECIAL ACCOUNT ALLIED Account No.: 8610721825
DATE DISBURSED CHECK/WIRE NO. DESCRIPTION AMOUNT - -------------- -------------- ----------- ------------ None None Salaries, Benefits & Insurance $ - None None Stay Bonus - None None Utilities - None None Rents & Leases - None None Remaining Man. Costs - None None Pre-Petition Vendor Payments - None None Real Estate Taxes - None None Asset Sale Related Expenses - None None Foothill Capital-Secured Loan - None None Union Closure Agreement - None None Parts Purchases - None None Professional/Trustee Fees - None None Foothill Principal Payments - None None Boeing Letter of Credit - None None Foothill Interest & Fees - None None All Other - ------------ TOTAL DISBURSEMENTS $ - ------------
You must create a separate list for each bank account for which disbursements were made during the month. OPERATING REPORT Page 3 (13 of 19) IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.: 00 B 28798 FOR MONTH ENDING August 31, 2002 STATEMENT OF INVENTORY (PRE-PETITION AND POST-PETITION) Beginning Inventory $ - --------- Add: purchases $ - --------- Less: goods sold $ - --------- (cost basis) Ending Inventory $ - ---------
PAYROLL INFORMATION STATEMENT - ----------------------------- Gross payroll for this period $ 30,644 --------- Payroll taxes due but unpaid $ - ---------
STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS
Amount of Number of Amounts of Date regular Regular Payments Payments Name of Creditor/Lessor payment is due Payment Delinquent Delinquent* - --------------------------- --------------- ----------- ------------- ------------- $ -
*Include only post-perition payments OPERATING REPORT Page 4 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.: 00 B 28798 FOR MONTH ENDING August 31, 2002 STATEMENT OF INVENTORY (PRE-PETITION AND POST-PETITION) ACCOUNTS RECEIVABLE: Beginning month balance $ 12,863,324 ----------------- Add: sales on account $ - ----------------- Less: collections/adjustments(1) $ 250,000 ----------------- End of month balance $ 13,113,324 -----------------
0-30 Days 31-60 Days 61-90 Days Over 90 Days (1) End of Month - ----------- ------------ ------------ ----------------- --------------- $ - $ - $ - $ 13,113,325 $ 13,113,325 - ----------- ------------ ------------ ----------------- ---------------
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION) Beginning month balance $ - ----------------- Add: credit extended $ 91,568 ----------------- Less: payments of account $ (91,568) ----------------- End of month balance $ - -----------------
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month - ----------- ------------ ------------ -------------- ----------------- $ - $ - $ - $ - $ - - ----------- ------------ ------------ -------------- -----------------
(1) Adjust receipts from Unico Settlement. These receipts were for the Return of Preferance Payments ITEMIZE ALL POST-PETITION PAYABLES OVER 30 DAYS OLD ON A SEPARATE SCHEDULE AND FILE WITH THIS REPORT OPERATING REPORT Page 5 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: ALLIED PRODUCTS CORPORATION CASE NO.: 00 B 28798 FOR MONTH ENDING July 31, 2002 TAX QUESTIONNAIRE Debtors in possession and trustees are required to pay all taxes incurred after the filing of their Chapter 11 petition on an as due basis. Please indicate whether the following post-petition taxes or withholdings have been paid currently. 1. Federal Income Taxes Yes /X/ No / / 2. FICA withholdings Yes /X/ No / / 3. Employee's withholdings Yes /X/ No / / 4. Employer's FICA Yes /X/ No / / 5. Federal Unemployment Taxes Yes /X/ No / / 6. State Income Tax Yes /X/ No / / 7. State Employee withholdings Yes /X/ No / / 8. All other state taxes Yes /X/ No / / If any of the above have not been paid, state below the tax not paid, the amounts past due and the date of last payment. OPERATING REPORT Page 6 - -------------------------------------------------------------------------------- Department of the Treasury - Internal Revenue Service (REV. 06-97) VERIFICATION OF FIDUCIARY'S FEDERAL TAX DEPOSIT - -------------------------------------------------------------------------------- DO NOT ATTACH THIS NOTICE TO YOUR RETURN - -------------------------------------------------------------------------------- TO District Director, Internal revenue Service Attn: Chief, Special Procedures Function - -------------------------------------------------------------------------------- FROM: Name of Taxpayer Allied Products Corp ----------------------------------------------------------- Taxpayer Address 1355 East 93rd Street Chicago, IL 60619 - -------------------------------------------------------------------------------- The following information is to notify you of Federal tax deposit (s) (FTD) as required by the United States Bankruptcy Court (complete sections 1 and/or 2 as appropriate): - -------------------------------------------------------------------------------- SECTION 1 FORM 941 FEDERAL TAX DEPOSIT (FTD) INFORMATION for the payroll period from 27-Jul-02 to 9-Aug-02 Taxes Reported on Payroll Date 9-Aug-02 form 941, Employer's Quarterly Federal Tax Gross wages paid to employees $ 15,004 Return --------- Income tax withheld $ 3,420 --------- SOCIAL SECURITY Employer's Soc. Sec. $ 96 --------- Employee's Soc. Sec 96 --------- Employer's Medicare 218 --------- Employee's Medicare 218 --------- SOC. SEC & MEDICARE TOTAL $ 626 --------- Tax Deposited $ 4,047 --------- Date Deposited Wired To ADP 08/09/02 - -------------------------------------------------------------------------------- SECTION 2 FORM 940 FEDERAL TAX DEPOSIT (FTD) INFORMATION for the payroll period from __________to___________ Taxes Reported on form 940, Employer's Gross wages paid to employees $ - Annual Federal --------- Unemployment Tax Tax Deposited $ - Return --------- Date Deposited ___________________ - -------------------------------------------------------------------------------- CERTIFICATION (CERTIFICATION IS LIMITED TO RECEIPT OR ELECTRONIC TRANSMITTAL OF DEPOSIT ONLY) This certifies receipt or electronic transmittal of deposits described below for Federal taxes as defined in Circular E, Employer's Tax Guide (Publication 15) - -------------------------------------------------------------------------------- Deposit Method / / Form 8109/8109B Federal Tax Deposit (FTD) coupon (check box) /X/ Electronic Federal Payment System (EFTPS) Deposit - -------------------------------------------------------------------------------- Amount (Form 941 Taxes) Date of Deposit EFTPS acknowledgement number or Form 8109 FTD Wired To ADP 08/09/02 received by: (1) - -------------------------------------------------------------------------------- Amount (Form 940 Taxes) Date of Deposit EFTPS acknowledgement number or Form 8109 FTD received by: - -------------------------------------------------------------------------------- Depositor's Employer Name and Address of Bank Identification Number: - -------------------------------------------------------------------------------- Under penalties of perjury, I certify that the above federal tax deposit information is true and correct - -------------------------------------------------------------------------------- Signed: Date: - -------------------------------------------------------------------------------- Name and Title Richard Drexler, Chairman, President, CEO and CFO (print or type) - -------------------------------------------------------------------------------- (1) Information is provided on a quarterly basis. 17 of 19 Payroll 08.09 Cat.#43099Z Form 6123(rev.06-97) - -------------------------------------------------------------------------------- Department of the Treasury - Internal Revenue Service (REV. 06-97) VERIFICATION OF FIDUCIARY'S FEDERAL TAX DEPOSIT - -------------------------------------------------------------------------------- DO NOT ATTACH THIS NOTICE TO YOUR RETURN - -------------------------------------------------------------------------------- TO District Director, Internal revenue Service Attn: Chief, Special Procedures Function - -------------------------------------------------------------------------------- FROM: Name of Taxpayer Allied Products Corp ----------------------------------------------------------- Taxpayer Address 1355 East 93rd Street Chicago, IL 60619 - -------------------------------------------------------------------------------- The following information is to notify you of Federal tax deposit (s) (FTD) as required by the United States Bankruptcy Court (complete sections 1 and/or 2 as appropriate): - -------------------------------------------------------------------------------- SECTION 1 FORM 941 FEDERAL TAX DEPOSIT (FTD) INFORMATION for the payroll period from 10-Aug-02 to 23-Aug-02 Taxes Reported on Payroll Date 23-Aug-02 form 941, Employer's Quarterly Federal Tax Gross wages paid to employees $ 15,004 Return --------- Income tax withheld $ 3,420 --------- SOCIAL SECURITY Employer's Soc. Sec. $ 96 --------- Employee's Soc. Sec 96 --------- Employer's Medicare 218 --------- Employee's Medicare 218 --------- SOC. SEC & MEDICARE TOTAL $ 626 --------- Tax Deposited $ 4,047 --------- Date Deposited Wired To ADP 08/23/02 - -------------------------------------------------------------------------------- SECTION 2 FORM 940 FEDERAL TAX DEPOSIT (FTD) INFORMATION for the payroll period from ___________ to __________ Taxes Reported on form 940, Employer's Gross wages paid to employees $ - Annual Federal --------- Unemployment Tax Tax Deposited $ - Return --------- Date Deposited ___________________ - -------------------------------------------------------------------------------- CERTIFICATION (CERTIFICATION IS LIMITED TO RECEIPT OR ELECTRONIC TRANSMITTAL OF DEPOSIT ONLY) This certifies receipt or electronic transmittal of deposits described below for Federal taxes as defined in Circular E, Employer's Tax Guide (Publication 15) - -------------------------------------------------------------------------------- Deposit Method / / Form 8109/8109B Federal Tax Deposit (FTD) coupon (check box) /X/ Electronic Federal Payment System (EFTPS) Deposit - -------------------------------------------------------------------------------- Amount (Form 941 Taxes) Date of Deposit EFTPS acknowledgement number or Form 8109 FTD Wired To ADP 08/23/02 received by: (1) - -------------------------------------------------------------------------------- Amount (Form 940 Taxes) Date of Deposit EFTPS acknowledgement number or Form 8109 FTD received by: - -------------------------------------------------------------------------------- Depositor's Employer Name and Address of Bank Identification Number: - -------------------------------------------------------------------------------- Under penalties of perjury, I certify that the above federal tax deposit information is true and correct - -------------------------------------------------------------------------------- Signed: Date: - -------------------------------------------------------------------------------- Name and Title Richard Drexler, Chairman, President, CEO and CFO (print or type) - -------------------------------------------------------------------------------- (1) Information is provided on a quarterly basis. 18 of 19 Payroll 08.23 Cat.#43099Z Form 6123(rev.06-97) IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION DECLARATION UNDER PENALTY OF PERJURY I, Richard Drexler, acting as the duly authorized agent for Debtor in Possession (Trustee) declare under penalty of perjury under the laws of the United States that I have read and I certify that the figures, statements, disbursement itemizations, and account balances as listed in this Monthly Report of the Debtor are true and correct as of the date of this report to the best of my knowledge, information and belief. --------------------------------------- For the Debtor In Possession (Trustee) Print or type name and capacity of person signing this Declaration: Richard A. Drexler --------------------------------------- Chairman, President, CEO and CFO --------------------------------------- DATED: ___________________ OPERATING REPORT Page 8 -----END PRIVACY-ENHANCED MESSAGE-----