-----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, BXUWuESvnSFQ7fHsbuPlXuvgZ5FFOYjVbClqL06VGEIyjJt3IaVkmHrXDnrZ8Dt4 NZSZDuA+EAXSYceh75EQog== 0001021408-01-506533.txt : 20010911 0001021408-01-506533.hdr.sgml : 20010911 ACCESSION NUMBER: 0001021408-01-506533 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010904 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20010910 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: 1735113 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): September 4, 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 address: One Fordham Road, North Reading, MA 01864 - -------------------------------------------------------------------------------- (Former name and former address, if changed since last report) ITEM 5. OTHER EVENTS 1. Pursuant to Bankruptcy Rule 2015, on September 4, 2001 CVEO Corporation (the "Company"), formerly named Converse Inc., filed its monthly operating report covering the period ending July 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: . Consolidated Balance Sheet as of July 31, 2001. . Consolidated Income Statement for the month of July 2001 and year to date. . Schedule of Cash Receipts and Disbursements June 1, 2001 to July 31, 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 September 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 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) JULY 2001
Ending Balance 7/31/01 -------------- ASSETS CURRENT ASSETS Cash and cash equivalents 20,238,159 Accounts receivable 5,367,628 Receivable from subsidiaries - Inventories 35,985 Prepaid expenses and other current assets 1,369,996 ------------ Total current assets 27,011,768 Net property, plant and equipment 4,951,077 Other assets 8,132,164 ------------ 40,095,009 ============ LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIENCY) Current liabilities: Credit facility 0 Current portion long-term debt 79,001,468 Notes payable Accounts payable 35,485,425 Accrued expenses 14,045,780 Income taxes payable 6,527,722 ------------ Total current liabilities 135,060,395 Current assets in excess of reorganization value 22,853,974 Stockholders' equity (deficiency): Common stock 17,553,048 Additional paid in capital 4,436,788 Unearned compensation (100,971) Retained deficit (139,229,789) Cumulative currency translation adjustment (478,436) ------------ Total stockholders' equity (deficiency) (117,819,360) ------------ 40,095,009 ============
CVEO CORPORATION f/k/a CONVERSE INC. CONSOLIDATED INCOME STATEMENT CVEO Corporation f/k/a Converse Inc.(debtor) and subsidiaries (non-debtor) JULY 2001
----------------------------------- Month of July 2001 YTD July 2001 ----------------------------------- Net revenue 65,869,367 Cost of sales 305,668 52,054,068 ----------------------------------- Gross profit (305,668) 13,815,299 Selling, general and administrative expenses 557,072 15,899,958 Royalty income - 5,478,479 Restructuring and other unusual charges 146,614 3,166,181 ----------------------------------- Earnings from operations (1,009,354) 227,639 Interest expense 453,747 10,553,243 Other (income) expense, net 589,523 (32,319,563) ----------------------------------- Net income before income tax (2,052,624) 21,993,959 Income tax expense 27,829 965,410 ----------------------------------- Net income (2,080,453) 21,028,549 ===================================
CVEO Corporation f/k/a Converse Inc. Shedule of Cash Receipts & Disbursements Form MOR1 $=thousands
Prior Month Actual Total Cumulative 7/1-7/31 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 79 12 91 Other Receipts 785 74 859 TOTAL RECEIPTS 58,842 86 58,928 DISBURSEMENTS: Accounts Payable Raw Materials 389 389 Duties/Customs 2,124 2,124 Other Disbursements 7,371 832 8,203 Traffic 1,321 1,321 Advertising/Mktg 384 384 Player Contracts 101 101 Rent 778 778 Capital Expenditures - - Float Adjustment - - Total Accounts Payable 12,468 832 13,300 - Foreign Fnshd Gds-L/C 19,453 19,453 Payroll 9,503 196 9,699 Tax Payments 3,947 3,947 Japan 132 132 Singapore 219 219 Other 2,858 2,858 Restructuring Fees 1,736 190 1,926 TOTAL CASH DISBURSEMENTS 50,316 1,218 51,534 - -------------------------------------------------------------------------------- NET CASH REC/DSB BEFORE BA FIN 8,526 (1,132) 7,394 - -------------------------------------------------------------------------------- ADD BA FINANCING 16,212 16,212 - LESS BA MATURITY 26,912 26,912 -----------------------------------------
- ------------------------------------ NET CASH REC/DSB (2,174) (1,132) (3,306) - -------------------------------------------------------------------------------- Proceeds Sale of Assets 92,500 (3,750) 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 27,618 (5,448) 22,170 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 22,989 17,541 17,541 -----------------------------------------
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