-----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, RXs8pSKalI7d3ZOuKukllv4GpPm6HL20EwZlRUfAEHyJ6cthoblJMRsahDwpUZRZ 9GzxFGikehzCV1BZCoaTbw== 0000927016-01-503591.txt : 20020410 0000927016-01-503591.hdr.sgml : 20020410 ACCESSION NUMBER: 0000927016-01-503591 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20011030 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20011109 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: 1934 Act SEC FILE NUMBER: 033-06161 FILM NUMBER: 1779996 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): October 30, 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 Number No.) One High Street, North Andover, MA 01845 - -------------------------------------------------------------------------------- (Address of principal executive offices) Zip Code Registrant's telephone, including area code: 978.983.3375 ------------------------------- - -------------------------------------------------------------------------------- (Former name and former address, if changed since last report) 1 ITEM 5. OTHER EVENTS 1. Pursuant to Bankruptcy Rule 2015, on October 30, 2001 CVEO Corporation (the "Company"), formerly named Converse Inc., filed its monthly operating report covering the period ending September 30, 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: . Consolidated Balance Sheet as of September 30, 2001. . Consolidated Income Statement for the month of September 2001 and year to date. . Schedule of Cash Receipts and Disbursements August 31, 2001 to September 30, 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 Andover, Massachusetts on November 7, 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 3 dex991.txt FINANCIAL INFORMATION EXHIBIT 99.1 CVEO CORPORATION f/k/a CONVERSE INC. CONSOLIDATED BALANCE SHEET CVEO Corporation f/k/a Converse Inc.(debtor) and subsidiaries (non-debtor) SEPTEMBER 2001 Ending Balance 9/30/01 ---------------- ASSETS CURRENT ASSETS Cash and cash equivalents 16,787,284 Accounts receivable 5,200,371 Receivable from subsidiaries - Inventories - Prepaid expenses and other current assets 1,056,377 ---------------- Total current assets 23,044,032 Net property, plant and equipment 4,779,177 Other assets 8,121,314 ---------------- 35,944,523 ================ LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIENCY) Current liabilities: Credit facility 0 Current portion long-term debt 79,001,468 Accounts payable 35,072,613 Accrued expenses 14,710,735 Income taxes payable 6,497,969 ---------------- Total current liabilities 135,282,785 Current assets in excess of reorganization value 22,507,702 Stockholders' equity (deficiency): Common stock 17,553,048 Additional paid in capital 4,436,788 Unearned compensation (100,971) Retained deficit (143,256,393) Cumulative currency translation adjustment (478,436) ---------------- Total stockholders' equity (deficiency) (121,845,964) ---------------- 35,944,523 ================
4 CVEO CORPORATION f/k/a CONVERSE INC. CONSOLIDATED INCOME STATEMENT CVEO Corporation f/k/a Converse Inc.(debtor) and subsidiaries (non-debtor) SEPTEMBER 2001
-------------------------------- Month of YTD Sept. Sept. 2001 2001 -------------------------------- Net revenue 65,869,367 Cost of sales (20,829) 52,068,557 -------------------------------- Gross profit 20,829 13,800,810 Selling, general and administrative expenses 805,177 17,103,657 Royalty income - 5,478,479 Restructuring and other unusual charges 216,240 3,615,387 -------------------------------- Earnings from operations (1,000,588) (1,439,755) Interest expense 612,471 11,679,390 Other (income) expense, net 588,448 (31,062,665) -------------------------------- Net income before income tax (2,201,507) 17,943,520 Income tax expense 5,425 976,260 -------------------------------- Net income (2,206,932) 16,967,260 ================================
5 CVEO Corporation f/k/a Converse Inc. Shedule of Cash Receipts & Disbursements Form MOR1 $=thousands
Prior Month Actual Total Cumulative 9/1-9/30 Cumulative - CASH RECEIPTS: Domestic Accounts 33,502 33,502 Outlet Stores 4,740 4,740 Int'l Distributors 15,747 15,747 Royalty Receipts 3,989 3,989 Interest Receipts 156 19 175 Other Receipts 1,152 184 1,336 TOTAL RECEIPTS 59,286 203 59,489 DISBURSEMENTS: Accounts Payable Raw Materials 389 389 Duties/Customs 2,124 2,124 Other Disbursements 8,676 184 8,860 Traffic 1,321 1,321 Advertising/Mktg 384 384 Player Contracts 101 101 Rent 778 778 Capital Expenditures - - Float Adjustment - - Total Accounts Payable 13,773 184 13,957 - Foreign Fnshd Gds-L/C 19,453 19,453 Payroll 9,924 269 10,193 Tax Payments 3,947 3,947 Japan 132 132 Singapore 219 219 Other 2,858 2,858 Restructuring Fees 2,783 1,001 3,784 TOTAL CASH DISBURSEMENTS 53,089 1,454 54,543 - ------------------------------------------------------------------------------------------- NET CASH REC/DSB BEFORE BA FIN 6,197 (1,251) 4,946 - ------------------------------------------------------------------------------------------- ADD BA FINANCING 16,212 16,212 - LESS BA MATURITY 26,912 26,912
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- ------------------------------------------------------------------------------------------- NET CASH REC/DSB (4,503) (1,251) (5,754) - ------------------------------------------------------------------------------------------- Proceeds Sale of Assets 88,750 88,750 (566) (566) INTEREST/FEES; BANKS 1,685 1,685 NOTEHOLDERS 1,763 1,763 CONVERTIBLE NOTES - DIP FEE 643 643 - BT Loan Payoff 37,039 37,039 Secured Notes Payoff 23,906 23,906 REVOLVER BALANCE - - NET CASH ACTIVITY 20,973 (1,251) 19,722 LETTERS OF CREDIT ADD: 9,686 9,686 SUBTRACT: 19,450 19,450 TOTAL L/C (3,710) (3,710) BA REFINANCING ADD: 16,212 16,212 SUBTRACT: 53,348 53,348 TOTAL B/A REFINANCING - - STANDBY L/C 919 919 TOTAL LINE UTILIS./CASH BALANCE 16,344 15,093 15,093 -----------------------------------------------
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