-----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, G8GEsOok4QbOlJUsecWxb0WrRTjmOB1GCur+nbUrvtFeMELaSsiIRvW7WUPTYRIu GaOzAvhDHVTzBPrMiIpzzA== 0000927016-02-000112.txt : 20020413 0000927016-02-000112.hdr.sgml : 20020413 ACCESSION NUMBER: 0000927016-02-000112 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20011221 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020104 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: 2502323 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): December 21, 2001 CVEO Corporation - ------------------------------------------------------------------------------- (Exact name of registrant specified in Charter) Delaware 1-13430 04-1419731 - ------------------------------------------------------------------------------- (State or other jurisdiction (Commission File Number) (I.R.S. Employer of incorporation) Identification 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) ITEM 5. OTHER EVENTS Pursuant to Bankruptcy Rule 2015, on December 21, 2001 CVEO Corporation (the "Company"), formerly named Converse Inc., filed its monthly operating report covering the period ending November 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 November 30, 2001. . Consolidated Income Statement for the month of November 2001 and year to date. . Schedule of Cash Receipts and Disbursements November 1, 2001 to November 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 January 3, 2002. 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 EX-99.1 3 dex991.txt CONSOLIDATED BALANCE SHEET 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) NOVEMBER 2001
Ending Balance 11/30/01 -------------- ASSETS CURRENT ASSETS Cash and cash equivalents 15,905,971 Accounts receivable 4,871,536 Inventories - Prepaid expenses and other current assets 601,500 -------------- Total current assets 21,379,007 Net property, plant and equipment 487,725 Other assets 7,781,988 -------------- 29,648,720 ============== LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIENCY) Current liabilities: Credit facility 0 Current portion long-term debt 79,001,468 Accounts payable 35,418,267 Accrued expenses 15,647,232 Income taxes payable 6,498,044 -------------- Total current liabilities 136,565,011 Current assets in excess of reorganization value 22,161,429 Stockholders' equity (deficiency): Common stock 17,553,048 Additional paid in capital 4,436,788 Unearned compensation (100,971) Retained deficit (150,488,149) Cumulative currency translation adjustment (478,436) -------------- Total stockholders' equity (deficiency) (129,077,720) -------------- 29,648,720 ==============
CVEO CORPORATION f/k/a CONVERSE INC. CONSOLIDATED INCOME STATEMENT CVEO Corporation f/k/a Converse Inc.(debtor) and subsidiaries (non-debtor) NOVEMBER 2001
-------------------------------------- Month of Nov. 2001 YTD Nov. 2001 -------------------------------------- Net revenue 65,869,367 Cost of sales (74,475) 51,968,750 -------------------------------------- Gross profit 74,475 13,900,617 Selling, general and administrative expenses 585,749 18,535,838 Royalty income - 5,478,479 Restructuring and other unusual charges 86,089 3,945,607 -------------------------------------- Earnings from operations (597,363) (3,102,349) Interest expense 665,264 12,903,366 Other (income) expense, net 491,318 (26,728,330) -------------------------------------- Net income before income tax (1,753,945) 10,722,615 Income tax expense 5,425 987,110 -------------------------------------- Net income (1,759,370) 9,735,505 ======================================
CVEO Corporation f/k/a Converse Inc. Schedule of Cash Receipts & Disbursements Form MOR1 $=thousands
Prior Month Actual Total Cumulative 11/1-11/30 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 Auction Fixed Assets 874 874 Interest Receipts 209 28 237 Other Receipts 1,709 228 1,937 TOTAL RECEIPTS 60,770 256 61,026 DISBURSEMENTS: Accounts Payable Raw Materials 389 389 Duties/Customs 2,124 2,124 Other Disbursements 8,995 232 9,227 Traffic 1,321 1,321 Advertising/Mktg 384 384 Player Contracts 101 101 Rent 778 778 Capital Expenditures - - Float Adjustment - - Total Accounts Payable 14,092 232 14,324 - Foreign Fnshd Gds-L/C 19,453 19,453 Payroll/Benefits 10,583 199 10,782 Tax Payments 3,947 3,947 Japan 132 132 Singapore 219 219 Other 2,858 2,858 Restructuring Fees 4,088 126 4,214 TOTAL CASH DISBURSEMENTS 55,372 557 55,929 - -------------------------------------------------------------------------------------------------------------- NET CASH REC/DSB BEFORE BA FIN 5,398 (301) 5,097 - -------------------------------------------------------------------------------------------------------------- ADD BA FINANCING 16,212 16,212 - LESS BA MATURITY 26,912 26,912
- -------------------------------------------------------------------------------------------------------------- NET CASH REC/DSB (5,302) (301) (5,603) - -------------------------------------------------------------------------------------------------------------- Proceeds Sale of Assets 88,750 88,750 (566) (566) INTEREST/FEES; BANKS 1,685 1,685 NOTEHOLDERS 1,965 1,965 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 19,972 (301) 19,671 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 15,343 15,042 15,042 --------------------------------------------------------
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