-----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, Uu3QIWiDiNc6kb0CcNcgJ73j1gLXsTCSHDkcvYQGvml4PFcrvMVJZ/n34q2zJYgG dul2LQaaYEaQ3JbGqfi7zA== 0000927016-01-500841.txt : 20010510 0000927016-01-500841.hdr.sgml : 20010510 ACCESSION NUMBER: 0000927016-01-500841 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010426 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010509 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CVEO CORP CENTRAL INDEX KEY: 0000716934 STANDARD INDUSTRIAL CLASSIFICATION: RUBBER & PLASTICS FOOTWEAR [3021] IRS NUMBER: 041419731 STATE OF INCORPORATION: MA FISCAL YEAR END: 0102 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-13430 FILM NUMBER: 1627147 BUSINESS ADDRESS: STREET 1: ONE FORDHAM RD CITY: NORTH READING STATE: MA ZIP: 01864 BUSINESS PHONE: 5086641100 MAIL ADDRESS: STREET 1: ONE FORDHAM ROAD CITY: NORTH READING STATE: MA ZIP: 01864 FORMER COMPANY: FORMER CONFORMED NAME: CONVERSE INC DATE OF NAME CHANGE: 19940824 8-K 1 d8k.txt FORM 8-K UNITED STATES 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): April 26, 2001 CVEO Corporation (Exact name of registrant specified in Charter) Delaware 1-13430 04-1419731 - ---------------------------- ------------- -------------------- (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) One Fordham Road, North Reading, MA 01864 - ------------------------------------------------------------------------------- (Address of principal executive offices) Zip Code Registrant's telephone, including area code: 978.664.1100 ------------------ - ------------------------------------------------------------------------------- (Former name and former address, if changed since last report) ITEM 5. OTHER EVENTS Pursuant to Bankruptcy Rule 2015, on April 26, 2001 CVEO Corporation (the "Company"), formerly named Converse Inc., filed its monthly operating report covering the period February 25, 2001 to March 31, 2001 with the United States Bankruptcy Court for the District of Delaware. Attached as Exhibit 99.1 to this Form 8-K is the following financial information included in such monthly operating report: o Schedule of Cash Receipts and Disbursements January 22, 2001 to March 31, 2001 o Consolidated Balance Sheet as of January 27, 2001 o Consolidated Income Statement for the month of January 2001. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits -------- 99.1 Financial Information 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, in North Reading, Massachusetts on May 8, 2001. CVEO CORPORATION By: /s/ James E. Lawlor ------------------- James E. Lawlor Senior Vice President and Chief Financial Officer 2 INDEX TO EXHIBITS Exhibit Page - ------- ---- 99.1 Financial Information 4 3 EX-99.1 2 dex991.txt FINANCIAL INFORMATION EXHIBIT 99.1
- ------------------------------------------------------------------------------------------------------------------------------ CONVERSE INC. - ------------------------------------------------------------------------------------------------------------------------------ Schedule of Cash Receipts & Disbursements Form MOR1 Actual Actual Actual Total - ------------------------------------------------------------------------------------------------------------------------------ $=thousands 1/22-1/27 1/28-2/24 2/25-3/31 1/22-3/31 - ------------------------------------------------------------------------------------------------------------------------------ - - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ JAN FEB MAR - ------------------------------------------------------------------------------------------------------------------------------ CASH RECEIPTS: - ------------------------------------------------------------------------------------------------------------------------------ Domestic Accounts 2,413 5887 10008 18,308 - ------------------------------------------------------------------------------------------------------------------------------ Outlet Stores 255 1227 1533 3,015 - ------------------------------------------------------------------------------------------------------------------------------ Int'l Distributors 2,315 1555 6839 10,709 - ------------------------------------------------------------------------------------------------------------------------------ Subs- Europe 0 0 0 0 - ------------------------------------------------------------------------------------------------------------------------------ Iberia 0 0 0 0 - ------------------------------------------------------------------------------------------------------------------------------ Mexico 0 0 0 0 - ------------------------------------------------------------------------------------------------------------------------------ Japan(CJI) 0 0 0 0 - ------------------------------------------------------------------------------------------------------------------------------ Royalty Receipts 119 2411 385 2,915 - ------------------------------------------------------------------------------------------------------------------------------ Other Receipts 127 116 243 - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ TOTAL RECEIPTS 5,102 11,207 18,881 35,190 - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ DISBURSEMENTS: - ------------------------------------------------------------------------------------------------------------------------------ Accounts Payable - ------------------------------------------------------------------------------------------------------------------------------ Raw Materials 69 188 111 368 - ------------------------------------------------------------------------------------------------------------------------------ Duties/Customs 96 745 903 1,744 - ------------------------------------------------------------------------------------------------------------------------------ Other Disbursements 14 920 1549 2,483 - ------------------------------------------------------------------------------------------------------------------------------ Traffic 45 416 584 1,045 - ------------------------------------------------------------------------------------------------------------------------------ Advertising/Mktg 0 287 75 362 - ------------------------------------------------------------------------------------------------------------------------------ Player Contracts 0 59 42 101 - ------------------------------------------------------------------------------------------------------------------------------ Rent 0 252 268 520 - ------------------------------------------------------------------------------------------------------------------------------ Capital Expenditures 0 0 0 0 - ------------------------------------------------------------------------------------------------------------------------------ Income/Frchise Tax Pmts 0 0 0 0 - ------------------------------------------------------------------------------------------------------------------------------ Float Adjustment (224) (780) 214 (790) - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ Total Accounts Payable 0 2,087 3,746 5,833 - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ Foreign Fnshd Gds-L/C 1,141 6738 7665 15,544 - ------------------------------------------------------------------------------------------------------------------------------ FFG-Open Acct 0 0 0 0 - ------------------------------------------------------------------------------------------------------------------------------ Payroll 0 1605 2484 4,089 - ------------------------------------------------------------------------------------------------------------------------------ Tax Payments 317 1053 1264 2,634 - ------------------------------------------------------------------------------------------------------------------------------ Europe 0 0 0 0 - ------------------------------------------------------------------------------------------------------------------------------ Mexico 0 0 0 0 - ------------------------------------------------------------------------------------------------------------------------------ Japan 0 19 113 132 - ------------------------------------------------------------------------------------------------------------------------------ Singapore 0 96 62 158 - ------------------------------------------------------------------------------------------------------------------------------ Other 224 853 1190 2,267 - ------------------------------------------------------------------------------------------------------------------------------ Restructuring Fees 0 65 52 117 - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ TOTAL CASH - ------------------------------------------------------------------------------------------------------------------------------ DISBURSEMENTS 1,682 12,516 16,576 30,774 - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ NET CASH REC/DSB - ------------------------------------------------------------------------------------------------------------------------------ BEFORE BA FIN 3,420 (1,309) 2,305 4,416 - ------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------ Actual Actual Actual Total - ------------------------------------------------------------------------------------------------------------------------------ 1/22-1/27 1/28-2/24 2/25-3/31 1/22-3/31 - ------------------------------------------------------------------------------------------------------------------------------ - - ------------------------------------------------------------------------------------------------------------------------------ ADD BA FINANCING 1,119 6,583 7,529 15,231 - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ LESS BA MATURITY 473 2,343 4,921 7,737 - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ NET CASH REC/DSB - ------------------------------------------------------------------------------------------------------------------------------ AFTER BA FINANCING 4,066 2,931 4,913 11,910 - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ PAYROLL BKDWN. M 0 0 0 - ------------------------------------------------------------------------------------------------------------------------------ (ACHed prior day T 0 0 0 - ------------------------------------------------------------------------------------------------------------------------------ for value..) W 0 0 0 - ------------------------------------------------------------------------------------------------------------------------------ Th 0 0 0 - ------------------------------------------------------------------------------------------------------------------------------ F 0 0 0 - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ INTEREST/FEES: - ------------------------------------------------------------------------------------------------------------------------------ BANKS 19 325 677 1,021 - ------------------------------------------------------------------------------------------------------------------------------ NOTEHOLDERS 370 877 1,247 - ------------------------------------------------------------------------------------------------------------------------------ CONVERTIBLE NOTES 0 - ------------------------------------------------------------------------------------------------------------------------------ DIP FEE 393 393 - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ PROCEEDS SALE OF BLDG 0 0 - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ REVOLVER BALANCE 34,983 32747 29781 29781 - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ LETTERS OF CREDIT - ------------------------------------------------------------------------------------------------------------------------------ ADD: 0 3397 4542 7,939 - ------------------------------------------------------------------------------------------------------------------------------ SUBTRACT: 1,140 6736 7756 15,632 - ------------------------------------------------------------------------------------------------------------------------------ TOTAL L/C 9,099 5760 2546 2546 - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ BA REFINANCING - ------------------------------------------------------------------------------------------------------------------------------ ADD: 1,119 6583 7529 15,231 - ------------------------------------------------------------------------------------------------------------------------------ SUBTRACT: 473 2342 4920 7,735 - ------------------------------------------------------------------------------------------------------------------------------ TOTAL B/A REFI 11,345 15584 18193 18193 - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ STANDBY L/C 828 828 828 828 - ------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------ TOTAL LINE UTILIS. 56,255 54920 51348 51348 - ------------------------------------------------------------------------------------------------------------------------------
2 CONVERSE INC. CONSOLIDATED BALANCE SHEET CONVERSE INC. (DEBTOR) AND SUBSIDIARIES (NON-DEBTOR) JANUARY 2001 Ending Balance 1/27/01 --------------- ASSETS CURRENT ASSETS Cash and cash equivalents 2,558,772 Accounts receivables 33,775,523 Receivable from subsidiaries - Inventories 39,903,680 Prepaid expenses and other current assets 2,901,693 ------------ Total current assets 79,139,668 Net property, plant and equipment 5,953,382 Investment in subsidiaries - Other assets 10,513,887 ------------ 95,606,937 ============ LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIENCY) Current liabilities: Credit facility 46,328,378 Current portion long-term debt 102,907,687 Notes payable (158,870) Accounts payable 40,783,999 Accrued expenses 16,710,215 Income taxes payable 6,339,566 ------------ Total current liabilities 212,910,975 Current assets in excess of reorganization value 23,892,791 Stockholders' equity (deficiency): Common stock 17,535,556 Additional paid in capital 4,449,390 Unearned compensation (245,010) Retained deficit (161,305,534) Cumulative currency translation adjustment (1,631,231) ------------ Total stockholders' equity (deficiency) (141,196,829) ------------ 95,606,937 ============ 3 CONVERSE INC. CONSOLIDATED INCOME STATEMENT CONVERSE INC. (DEBTOR) AND SUBSIDIARIES (NON-DEBTOR) MONTH OF JANUARY 2001 ------------------ Month of Jan. 2001 ------------------ Net revenue 13,840,786 Cost of sales 9,827,419 ------------------ Gross profit 4,013,367 Selling, general and administrative expenses 3,695,079 Royalty income 1,539,512 ------------------ Earnings from operations 1,857,800 Interest expense 2,069,775 Other (income) expense, net 606,396 ------------------ Net income before income tax (818,371) Income tax expense 228,815 ------------------ Net income (1,047,186) ================== 4 -----END PRIVACY-ENHANCED MESSAGE-----