EX-99 3 polaroidex99_1.txt EXHIBIT 99.1 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE - - - - - - - - - - - - - - - - - - -x : In re: : Chapter 11 : POLAROID CORPORATION, : Case No. 01-10864 (PJW) et al., : : Jointly Administered Debtors. : : - - - - - - - - - - - - - - - - - - -x NOTICE OF FILING OF MONTHLY OPERATING REPORTS FOR PERIOD FROM JUNE 2, 2003 THROUGH JUNE 29, 2003 PLEASE TAKE NOTICE that on August 1, 2003, the debtors and debtors-in-possession in the above-captioned cases filed with the United States Bankruptcy Court for the District of Delaware the Monthly Operating Reports of Polaroid Corporation, et al., for the period from June 2, 2003 through June 29, 2003, attached hereto as Exhibit A (the "Monthly Operating Reports"). PLEASE TAKE FURTHER NOTICE that contemporaneously herewith, copies of the Monthly Operating Reports were served on the parties set forth on Exhibit B attached hereto in the manner indicated thereon. Dated: Wilmington, Delaware August 1, 2003 /s/ Mark L. Desgrosseilliers ------------------------------------- Gregg M. Galardi (I.D. No. 2991) Mark L. Desgrosseilliers (I.D. No. 4083) SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP One Rodney Square P.O. Box 636 Wilmington, Delaware 19899-0636 (302) 651-3000 - and - Eric W. Kaup SKADDEN, ARPS, SLATE, MEAGHER & FLOM (ILLINOIS) 333 West Wacker Drive Chicago, Illinois 60606 (312) 407-0700 Attorneys for Debtors and Debtors-in-Possession Exhibit A TRANSMITTAL OF FINANCIAL REPORTS AND CERTIFICATION OF COMPLIANCE WITH UNITED STATES TRUSTEE OPERATING REQUIREMENTS FOR PERIOD ENDED June 29, 2003 Debtors Names: Case Number: Polaroid Corporation 01-10864 Inner City, Inc. 01-10865 Polaroid Asia Pacific Limited 01-10866 Polaroid Latin America Corp. 01-10867 Polaroid Digital Solutions, Inc. 01-10868 Polaroid Eyewear, Inc. 01-10869 Polaroid ID Systems, Inc. 01-10870 Polaroid Malaysia Limited 01-10871 PRD Capital, Inc. 01-10872 PRD Investment, Inc. 01-10874 International Polaroid Corporation 01-10875 Mag-Media Ltd. 01-10876 PMC, Inc. 01-10877 Polaroid Asia Pacific International, Inc. 01-10878 Polaroid Dry Imaging, LLC 01-10879 Polaroid Eyewear FarEast, Inc. 01-10881 Polaroid Memorial Drive, LLC 01-10882 Sub Debt Partners Corp. 01-10883 Polaroid Online Services, Inc. 01-10884 Polaroid Partners, Inc. 01-10885 Polint, Inc. 01-10886 As President of Primary PDC, Inc. (formerly Polaroid Corporation), I affirm: 1) That I have reviewed the financial statements attached hereto, consisting of: Balance Sheet Statement of Cash Receipts and Cash Disbursements Statement of Postpetition Taxes along with the debtor questionnaire and that this information has been prepared in accordance with normal and customary accounting practices, and fairly and accurately reflect the debtors' financial activity for the period stated. 2) That the insurance as described in Section 3 of the Operating Instructions and Reporting Requirements for Chapter 11 cases are current and have been paid in the normal course of business. 3) That all post-petition taxes as described in Section 4 of the Operating Instructions and Reporting Requirements for Chapter 11 cases are current and have been paid in the normal course of business. 4) That no professional fees (attorney, accountant, etc.) have been paid without specific court authorization. (See Exhibit A for information on payments of professional fees paid in June 2003.) 5) That no payments were made by or on behalf of any of the Debtors other than Primary PDC, Inc., for the period June 2, 2003 through and including June 29, 2003. Primary PDC, Inc. (formerly Polaroid Corporation) under my direction and supervision prepared the attached monthly report. Primary PDC, Inc. (formerly Polaroid Corporation) verifies that to the best of its knowledge, the information provided herein is true and correct. I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the documents attached are true and correct to the best of my knowledge and belief. Dated: July 15, 2003 /s/ K.R. Pond ------------------------ Debtor in Possession Title: President Phone Number: (781) 386-2000 CH11_Bankruptcy Trustee Certificate_June'03 POLAROID CORPORATION DEBTOR QUESTIONNAIRE June 2003
Must be completed each month Yes No 1. Have any assets been sold or transferred outside the normal course of No business this reporting period? If yes, provide an explanation below. 2. Have any funds been disbursed from any account other than a debtor in No possession account this reporting period? If yes, provide an explanation below. Note: All cash disbursements for the month of June 2003 were made in the Polaroid Corporation (renamed Primary PDC, Inc.) entity. No other cash disbursements were made in June 2003 by the other Debtor companies. 3. Have all postpetition tax returns been timely filed? If no, provide an Yes (A) explanation below. (A) As previously reported in the December 2001 report to the Bankruptcy Court, Primary PDC, Inc. (formerly Polaroid Corporation), with the approval of the Court, sold its large government identification business assets to Digimarc Corporation ("Digimarc"). In three states where the assets that were sold are located, Primary PDC, Inc. could be subject to a sales tax on the net book value of the assets. Digimarc has stated that they have applied to these three states to be a reseller of ID assets to a wholly owned LLC. If so, the three states would issue a resale certificate to Digimarc and they would send a copy of this certificate to Primary PDC, Inc. who would not have to pay a sales tax on the sale. As of the date of this report, Primary PDC, Inc. has not received any resale certificates from Digimarc. However, Digimarc has applied for them. Primary PDC, Inc. has filed the state sales tax returns for the period in question without remitting sales tax to the three states. Primary PDC, Inc. expects that this issue will be resolved shortly. If the states in question deny resale status to Digimarc, Primary PDC, Inc. would owe the three states approximately $600,000 plus interest. Although Primary PDC, Inc. believes such an outcome would be unlikely, Primary PDC, Inc. has sufficient cash to cover any adverse conclusion on this matter. 4. Are workers compensation, general liability and other necessary insurance Yes coverages in effect? If no, provide an explanation below. CH11_DEBTOR QUESTIONNAIRE_June'03
Polaroid Corporation Statement of Cash Receipts and Disbursements Period June 2, 2003 - June 29, 2003 (in U.S. $'s) Beginning Book Account Name Account # Balance Receipts Bank of New York 6903534891/ $6,930,260.26 76001691637 Cash Receipts: Account transfer Tax/ escrow refunds $0.00 Interest $2,909.25 Other recoveries $336.97 Cash Disbursements: Professional fee payments (See Exhibit A) Management and transitional services Other payments made pursuant to an order of the Court All other costs ----------------------- ---------------------- -- Balance at June 29, 2003 $6,930,260.26 $3,246.22 JP Morgan Chase Tax Escrow Account 507-895053 $4,041,735.50 Cash Receipts: Interest $2,400.68 Cash Disbursements: Account transfer Tax payments ----------------------- ---------------------- -- Balance at June 29, 2003 $4,041,735.50 $2,400.68 Balance at June 29, 2003 $10,971,995.76 $5,646.90
[Table continued] Polaroid Corporation Statement of Cash Receipts and Disbursements Period June 2, 2003 - June 29, 2003 (in U.S. $'s) Ending Transfers Book Account Name In/ (Out) Disbursements Balance Bank of New York Cash Receipts: Account transfer Tax/ escrow refunds Interest Other recoveries Cash Disbursements: Professional fee payments (See Exhibit A) $1,009,730.50 Management and transitional services $33,028.76 Other payments made pursuant to an order of the Court $0.00 All other costs $136,805.15 ------------------ ----------------------- ---------------------- Balance at June 29, 2003 $0.00 $1,179,564.41 $5,753,942.07 JP Morgan Chase Tax Escrow Account Cash Receipts: Interest Cash Disbursements: Account transfer Tax payments ------------------ ----------------------- ---------------------- Balance at June 29, 2003 $0.00 $0.00 $4,044,136.18 Balance at June 29, 2003 $0.00 $1,179,564.41 $9,798,078.25
[Table continued] Polaroid Corporation Statement of Cash Receipts and Disbursements Period June 2, 2003 - June 29, 2003 (in U.S. $'s) Reconciling Bank Account Name Items Balance Bank of New York Cash Receipts: Account transfer Tax/ escrow refunds Interest Other recoveries Cash Disbursements: Professional fee payments (See Exhibit A) Management and transitional services Other payments made pursuant to an order of the Court All other costs ------------------ --------------------- Balance at June 29, 2003 $696,101.23 $6,450,043.30 JP Morgan Chase Tax Escrow Account Cash Receipts: Interest Cash Disbursements: Account transfer Tax payments ------------------ --------------------- Balance at June 29, 2003 $0.00 $4,044,136.18 Balance at June 29, 2003 $696,101.23 $10,494,179.48
POLAROID CORPORATION PROFESSIONAL FEE PAYMENT SUMMARY PROFESSIONAL VENDOR Nov, 2001 Dec, 2001 Jan, 2002 Feb, 2002 Mar, 2002 Apr, 2002 Skadden, Arps, Slate, Meagher & Flom (Illinois) $965,791 Kroll Zolfo Cooper, LLC $340,166 $225,000 $304,000 KPMG LLP Bingham Dana LLP ------------------------------------- Dresdner Kleinwort Wasserstein, Inc. $335,796 Miller, Buckfire, Lewis ------------------------------------- Donlin, Recano & Company, Inc. $19,500 $85,611 $25,000 $30,000 Akin, Gump, Strauss, Hauer & Feld, L.L.P. $264,468 Young Conaway Stargatt & Taylor LLP Houlihan Lokey Howard & Zukin Financial Advisors, Inc. $351,399 $130,000 Groom Law Group McShane $9,666 Greenberg Traurig LLP Buck Consultants Wind Down Associates, LLC BTB Associates LLC Traxi LLC - Perry M. Mandarino Proskauer Rose LLP --------------------------------------------------------------------------- TOTAL $19,500 $0 $0 $777,176 $1,551,587 $738,134 --------------------------------------------------------------------------- ORDINARY COURSE PROFESSIONAL VENDOR Arthur Andersen LLP $8,400 Foley Hoag & Eliot Horal & Chvosta Law Offices Merrill Communication Pro-Legal Services Goodwin Procter Ikon Office Solutions Kekst & Company Inc JP Morgan Kilkpatrick & Lockhart LLP David Feldman & Associates Davies Polk & Wardwell Thommessen Krefting Greve LLP Duplicating USC, Inc. Hewitt Associates LLC Coffman, De Fries & Northern American Stock Transfer & Trust FTI Consultants Baker Botts, LLP Reimer & Braunstein, LLP Morrison & Forester, LLP Baker & McKenzie Morris, Nichols, Arsht & Tunnel Fidelity Investments Institution Prince, Lobel, Glovsky & Tye KPMG LLP (Canada) Barnes, Richardson & Colburn Ernst & Young, LLP --------------------------------------------------------------------------- TOTAL $0 $0 $8,400 $0 $0 $0 --------------------------------------------------------------------------- --------------------------------------------------------------------------- TOTAL ALL PROFESSIONALS $19,500 $0 $8,400 $777,176 $1,551,587 $738,134 ===========================================================================
[Table continued] POLAROID CORPORATION PROFESSIONAL FEE PAYMENT SUMMARY PROFESSIONAL VENDOR May, 2002 June, 2002 July, 2002 August, 2002 Sept, 2002 Oct, 2002 Skadden, Arps, Slate, Meagher & Flom (Illinois) $552,209 $1,049,686 $1,795,123 Kroll Zolfo Cooper, LLC $286,000 547,000 $256,834 $263,542 231683 $502,971 KPMG LLP $320,269 14,953 $86,663 $225,536 Bingham Dana LLP $11,629 ------------------------------------- Dresdner Kleinwort Wasserstein, Inc. $711,204 Miller, Buckfire, Lewis $481,767 ------------------------------------- Donlin, Recano & Company, Inc. $55,000 98,000 $118,285 24558 $16,904 Akin, Gump, Strauss, Hauer & Feld, L.L.P. 324,000 $214,532 $111,431 387916 $416,558 Young Conaway Stargatt & Taylor LLP $0 $54,253 Houlihan Lokey Howard & Zukin Financial Advisors, Inc. $125,000 130,000 $378,601 $233,343 Groom Law Group 200,000 27510 $63,644 McShane $20,479 $4,966 2989 $12,296 Greenberg Traurig LLP Buck Consultants 13884 41136 Wind Down Associates, LLC BTB Associates LLC Traxi LLC - Perry M. Mandarino Proskauer Rose LLP ---------------------------------------------------------------------------- TOTAL $806,748 $1,313,953 $2,113,380 $1,634,573 $688,540 $3,855,160 ---------------------------------------------------------------------------- ORDINARY COURSE PROFESSIONAL VENDOR Arthur Andersen LLP $12,768 Foley Hoag & Eliot 440 Horal & Chvosta Law Offices 2125 0 Merrill Communication 11567 1795 Pro-Legal Services 1625 Goodwin Procter 9722 5705 Ikon Office Solutions 15427 Kekst & Company Inc 13683 JP Morgan 0 Kilkpatrick & Lockhart LLP 10263 46672 David Feldman & Associates 15550 Davies Polk & Wardwell 43336 13258 Thommessen Krefting Greve LLP 2221 Duplicating USC, Inc. 6732 Hewitt Associates LLC 0 7213 Coffman, De Fries & Northern 0 3290 American Stock Transfer & Trust 0 3200 FTI Consultants Baker Botts, LLP Reimer & Braunstein, LLP Morrison & Forester, LLP Baker & McKenzie Morris, Nichols, Arsht & Tunnel Fidelity Investments Institution Prince, Lobel, Glovsky & Tye KPMG LLP (Canada) Barnes, Richardson & Colburn Ernst & Young, LLP ---------------------------------------------------------------------------- TOTAL $12,768 $0 $0 $40,906 $91,785 $81,133 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- TOTAL ALL PROFESSIONALS $819,516 $1,313,953 $2,113,380 $1,675,479 $780,325 $3,936,293 ============================================================================
[Table continued] POLAROID CORPORATION PROFESSIONAL FEE PAYMENT SUMMARY PROFESSIONAL VENDOR Nov, 2002 Dec, 2002 Jan, 2003 Feb, 2003 Mar, 2003 Skadden, Arps, Slate, Meagher & Flom (Illinois) $ 357,703 77647 73614 59701 Kroll Zolfo Cooper, LLC $ 192,769 42840 32483 15842 KPMG LLP 31800 45378 Bingham Dana LLP ------------------------------------- Dresdner Kleinwort Wasserstein, Inc. Miller, Buckfire, Lewis ------------------------------------- Donlin, Recano & Company, Inc. $ 44,587 17398 37738 14969 42554 Akin, Gump, Strauss, Hauer & Feld, L.L.P. $ 140,135 194866 39347 40288 75444 Young Conaway Stargatt & Taylor LLP Houlihan Lokey Howard & Zukin Financial Advisors, Inc. 509600 120738 Groom Law Group 116652 McShane 8140 8880 2164 Greenberg Traurig LLP Buck Consultants $ 3,312 7314 2494 Wind Down Associates, LLC 29096 97202 24908 26569 BTB Associates LLC 4080 Traxi LLC - Perry M. Mandarino Proskauer Rose LLP ------------------------------------------------------------------ TOTAL $738,506 875861 465892 188426 269567 ------------------------------------------------------------------ ORDINARY COURSE PROFESSIONAL VENDOR Arthur Andersen LLP Foley Hoag & Eliot Horal & Chvosta Law Offices Merrill Communication Pro-Legal Services 11584 Goodwin Procter 606 Ikon Office Solutions Kekst & Company Inc JP Morgan 1825 -1825 Kilkpatrick & Lockhart LLP $ 16,407 7712 16557 19707 David Feldman & Associates Davies Polk & Wardwell 26552 17635 17286 Thommessen Krefting Greve LLP Duplicating USC, Inc. Hewitt Associates LLC 2094 788 3417 Coffman, De Fries & Northern American Stock Transfer & Trust 6400 3200 FTI Consultants 14390 Baker Botts, LLP 119 680 Reimer & Braunstein, LLP 3064 Morrison & Forester, LLP 17012 1572 11952 Baker & McKenzie 666 Morris, Nichols, Arsht & Tunnel 13086 Fidelity Investments Institution 20800 Prince, Lobel, Glovsky & Tye 362 KPMG LLP (Canada) 9300 Barnes, Richardson & Colburn Ernst & Young, LLP ------------------------------------------------------------------ TOTAL $16,407 53888 27087 52393 93173 ------------------------------------------------------------------ ------------------------------------------------------------------ TOTAL ALL PROFESSIONALS $754,913 $929,749 492979 240819 362740 ==================================================================
[Table continued] POLAROID CORPORATION PROFESSIONAL FEE PAYMENT SUMMARY PROFESSIONAL VENDOR Apr, 2003 May,2003 June, 2003 Skadden, Arps, Slate, Meagher & Flom (Illinois) 278027 146666 205989 Kroll Zolfo Cooper, LLC 9412 46551 KPMG LLP Bingham Dana LLP ------------------------------------- Dresdner Kleinwort Wasserstein, Inc. Miller, Buckfire, Lewis ------------------------------------- Donlin, Recano & Company, Inc. 68521 38996 33489 Akin, Gump, Strauss, Hauer & Feld, L.L.P. 41585 61781 47778 Young Conaway Stargatt & Taylor LLP 17531 8476 Houlihan Lokey Howard & Zukin Financial Advisors, Inc. 201486 Groom Law Group 31850 McShane Greenberg Traurig LLP Buck Consultants Wind Down Associates, LLC 27120 36288 35209 BTB Associates LLC 4081 3559 6353 Traxi LLC - Perry M. Mandarino 110214 140601 Proskauer Rose LLP 221598 -------------------------------------- TOTAL 446276 444056 932829 -------------------------------------- ORDINARY COURSE PROFESSIONAL VENDOR Arthur Andersen LLP Foley Hoag & Eliot 720 Horal & Chvosta Law Offices Merrill Communication Pro-Legal Services Goodwin Procter 12520 Ikon Office Solutions Kekst & Company Inc JP Morgan Kilkpatrick & Lockhart LLP 3262 7056 5583 David Feldman & Associates Davies Polk & Wardwell 48872 8108 14346 Thommessen Krefting Greve LLP Duplicating USC, Inc. Hewitt Associates LLC Coffman, De Fries & Northern 3782 American Stock Transfer & Trust FTI Consultants 7556 19987 18786 Baker Botts, LLP Reimer & Braunstein, LLP Morrison & Forester, LLP 34404 Baker & McKenzie Morris, Nichols, Arsht & Tunnel 3003 Fidelity Investments Institution Prince, Lobel, Glovsky & Tye KPMG LLP (Canada) Barnes, Richardson & Colburn 141511 Ernst & Young, LLP 550000 -------------------------------------- TOTAL 764441 38153 76901 -------------------------------------- -------------------------------------- TOTAL ALL PROFESSIONALS 1210718 482209 1009731 ======================================
Polaroid Corporation Statement of Operations and Taxes For the period 6/2/03 to 6/29/03 (in U.S.$'s) Debtor Name: Polaroid Corporation Case No: 01-10864 Except for those taxes triggered by the sale transaction on July 31, 2002, for for which funds were either paid or provided for in a tax escrow account, no additional taxes were incurred or paid by Primary PDC, Inc. (formerly Polaroid Corporation) or the other Debtor companies in June 2003. CONSOLIDATED POLAROID CORPORATION AND DEBTOR SUBSIDIARY COMPANIES Statement of Financial Position As of June 29, 2003 (in U.S. $'s) ASSETS ------ TOTAL CASH 9,798,078 NET RECEIVABLES - THIRD PARTY 0 NET RECEIVABLES - INTERCOMPANY - NET INVENTORIES - TOTAL PREPAID EXPENSES - TOTAL CURRENT ASSETS 9,798,079 NET FIXED ASSETS - INVESTMENT IN DEBTOR SUBSIDIARY COMPANIES (0) OTHER NONCURRENT ASSETS 462,226 TOTAL NON-CURRENT ASSETS 462,226 TOTAL ASSETS 10,260,305 LIABILITIES ----------- POST-PETITION NOTES - POST-PETITION PAYABLES - THIRD PARTY 954,395 POST-PETITION PAYABLES - INTERCOMPANY - TOTAL POST-PETITION ACCRUALS 695,478 TOTAL POST-PETITION CURRENT LIABILITIES 1,649,873 TOTAL POST-PETITION NON-CURRENT LIABILITIES - TOTAL PREPETITION LIABILITIES 860,978,847 TOTAL LIABILITIES 862,628,720 TOTAL SHAREHOLDER'S EQUITY / (DEFICIT) (852,368,415) TOTAL LIABILITIES & EQUITY / (DEFICIT) 10,260,305
POLAROID CORPORATION AND DEBTOR SUBSIDIARY COMPANIES Statement of Financial Position As of June 29, 2003 (in U.S. $'s) Polaroid Polaroid Latin Polaroid Asia Corporation America Corp. Pacific Ltd. ASSETS ------ TOTAL CASH 9,798,078 - - NET RECEIVABLES - THIRD PARTY 0 - - NET RECEIVABLES - INTERCOMPANY - - - NET INVENTORIES - - - TOTAL PREPAID EXPENSES - - - ------------------------------------------------------------ TOTAL CURRENT ASSETS 9,798,079 - - ------------------------------------------------------------ NET FIXED ASSETS - - - INVESTMENT IN DEBTOR SUBSIDIARY COMPANIES 78,611,939 - - OTHER NONCURRENT ASSETS 462,226 - - TOTAL NON-CURRENT ASSETS 79,074,165 - - ------------------------------------------------------------ TOTAL ASSETS 88,872,244 - - ============================================================ LIABILITIES POST-PETITION NOTES - - - POST-PETITION PAYABLES - THIRD PARTY 954,395 - - POST-PETITION PAYABLES - INTERCOMPANY - - - TOTAL POST-PETITION ACCRUALS 695,478 - - ------------------------------------------------------------ TOTAL POST-PETITION CURRENT LIABILITIES 1,649,873 - - TOTAL POST-PETITION NON-CURRENT LIABILITIES - - - TOTAL PREPETITION LIABILITIES 859,600,046 202,165 64,705 ------------------------------------------------------------ TOTAL LIABILITIES 861,249,919 202,165 64,705 TOTAL SHAREHOLDER'S EQUITY / (DEFICIT) (772,377,675) (202,165) (64,705) ------------------------------------------------------------ TOTAL LIABILITIES & EQUITY / (DEFICIT) 88,872,244 0 - ============================================================
[Table continued] POLAROID CORPORATION AND DEBTOR SUBSIDIARY COMPANIES Statement of Financial Position As of June 29, 2003 (in U.S. $'s) Polaroid Polaroid Digital Inner City, Inc. Eyewear, Inc. Solutions, Inc. ASSETS ------ TOTAL CASH - - - NET RECEIVABLES - THIRD PARTY - - - NET RECEIVABLES - INTERCOMPANY - - - NET INVENTORIES - - - TOTAL PREPAID EXPENSES - - - ------------------------------------------------------------- TOTAL CURRENT ASSETS - - - ------------------------------------------------------------- NET FIXED ASSETS - - - INVESTMENT IN DEBTOR SUBSIDIARY COMPANIES - - - OTHER NONCURRENT ASSETS - - - TOTAL NON-CURRENT ASSETS - - - ------------------------------------------------------------- TOTAL ASSETS - - - ============================================================= LIABILITIES ----------- POST-PETITION NOTES - - - POST-PETITION PAYABLES - THIRD PARTY - - - POST-PETITION PAYABLES - INTERCOMPANY - - - TOTAL POST-PETITION ACCRUALS - - - ------------------------------------------------------------- TOTAL POST-PETITION CURRENT LIABILITIES - - - TOTAL POST-PETITION NON-CURRENT LIABILITIES - - - TOTAL PREPETITION LIABILITIES 77,106 - - ------------------------------------------------------------- TOTAL LIABILITIES 77,106 - - TOTAL SHAREHOLDER'S EQUITY / (DEFICIT) (77,106) - - ------------------------------------------------------------- TOTAL LIABILITIES & EQUITY / (DEFICIT) - - - =============================================================
[Table continued] POLAROID CORPORATION AND DEBTOR SUBSIDIARY COMPANIES Statement of Financial Position As of June 29, 2003 (in U.S. $'s) Polaroid ID Polaroid Sub Debt Systems, Inc. Malaysia, Ltd. Partners Corp. ASSETS ------ TOTAL CASH - - - NET RECEIVABLES - THIRD PARTY - - - NET RECEIVABLES - INTERCOMPANY - - - NET INVENTORIES - - - TOTAL PREPAID EXPENSES - - - ------------------------------------------------------------------ TOTAL CURRENT ASSETS - - - ------------------------------------------------------------------ NET FIXED ASSETS - - - INVESTMENT IN DEBTOR SUBSIDIARY COMPANIES - - - OTHER NONCURRENT ASSETS - - - TOTAL NON-CURRENT ASSETS - - - ------------------------------------------------------------------ TOTAL ASSETS - - - ================================================================== LIABILITIES ----------- POST-PETITION NOTES - - - POST-PETITION PAYABLES - THIRD PARTY - - - POST-PETITION PAYABLES - INTERCOMPANY - - - TOTAL POST-PETITION ACCRUALS - - - ------------------------------------------------------------------ TOTAL POST-PETITION CURRENT LIABILITIES - - - TOTAL POST-PETITION NON-CURRENT LIABILITIES - - - TOTAL PREPETITION LIABILITIES 828,812 199,078 673 ------------------------------------------------------------------ TOTAL LIABILITIES 828,812 199,078 673 TOTAL SHAREHOLDER'S EQUITY / (DEFICIT) (828,812) (199,078) (673) ------------------------------------------------------------------ TOTAL LIABILITIES & EQUITY / (DEFICIT) - - - ==================================================================
[Table continued] POLAROID CORPORATION AND DEBTOR SUBSIDIARY COMPANIES Statement of Financial Position As of June 29, 2003 (in U.S. $'s) PRD PRD Polaroid Memorial Investment, Inc. Capital, Inc. Drive LLC ASSETS ------ TOTAL CASH - - - NET RECEIVABLES - THIRD PARTY - - - NET RECEIVABLES - INTERCOMPANY - - - NET INVENTORIES - - - TOTAL PREPAID EXPENSES - - - --------------------------------------------------------------- TOTAL CURRENT ASSETS - - - --------------------------------------------------------------- NET FIXED ASSETS - - - INVESTMENT IN DEBTOR SUBSIDIARY COMPANIES - - - OTHER NONCURRENT ASSETS - - - TOTAL NON-CURRENT ASSETS - - - --------------------------------------------------------------- TOTAL ASSETS - - - =============================================================== LIABILITIES ----------- POST-PETITION NOTES - - - POST-PETITION PAYABLES - THIRD PARTY - - - POST-PETITION PAYABLES - INTERCOMPANY - - - TOTAL POST-PETITION ACCRUALS - - - --------------------------------------------------------------- TOTAL POST-PETITION CURRENT LIABILITIES - - - TOTAL POST-PETITION NON-CURRENT LIABILITIES - - - TOTAL PREPETITION LIABILITIES - - - --------------------------------------------------------------- TOTAL LIABILITIES - - - TOTAL SHAREHOLDER'S EQUITY / (DEFICIT) - - - --------------------------------------------------------------- TOTAL LIABILITIES & EQUITY / (DEFICIT) - - - ===============================================================
[Table continued] POLAROID CORPORATION AND DEBTOR SUBSIDIARY COMPANIES Statement of Financial Position As of June 29, 2003 (in U.S. $'s) Polaroid Asia Polaroid Pacific Partners, Inc. Polint, Inc. International, Inc. ASSETS ------ TOTAL CASH - - - NET RECEIVABLES - THIRD PARTY - - - NET RECEIVABLES - INTERCOMPANY - - - NET INVENTORIES - - - TOTAL PREPAID EXPENSES - - - ------------------------------------------------------------ TOTAL CURRENT ASSETS - - - ------------------------------------------------------------ NET FIXED ASSETS - - - INVESTMENT IN DEBTOR SUBSIDIARY COMPANIES - - - OTHER NONCURRENT ASSETS - - - TOTAL NON-CURRENT ASSETS - - - ------------------------------------------------------------ TOTAL ASSETS - - - ============================================================ LIABILITIES ----------- POST-PETITION NOTES - - - POST-PETITION PAYABLES - THIRD PARTY - - - POST-PETITION PAYABLES - INTERCOMPANY - - - TOTAL POST-PETITION ACCRUALS - - - ------------------------------------------------------------ TOTAL POST-PETITION CURRENT LIABILITIES - - - TOTAL POST-PETITION NON-CURRENT LIABILITIES - - - TOTAL PREPETITION LIABILITIES - - 6,034 ------------------------------------------------------------ TOTAL LIABILITIES - - 6,034 TOTAL SHAREHOLDER'S EQUITY / (DEFICIT) - - (6,034) ------------------------------------------------------------ TOTAL LIABILITIES & EQUITY / (DEFICIT) - - - ============================================================
[Table continued] POLAROID CORPORATION AND DEBTOR SUBSIDIARY COMPANIES Statement of Financial Position As of June 29, 2003 (in U.S. $'s) International Mag Media, PMC, Inc. Polaroid Corp. Limited ASSETS ------ TOTAL CASH - - - NET RECEIVABLES - THIRD PARTY - - - NET RECEIVABLES - INTERCOMPANY - - - NET INVENTORIES - - - TOTAL PREPAID EXPENSES - - - --------------------------------------------------- TOTAL CURRENT ASSETS - - - --------------------------------------------------- NET FIXED ASSETS - - - INVESTMENT IN DEBTOR SUBSIDIARY COMPANIES - - - OTHER NONCURRENT ASSETS - - - TOTAL NON-CURRENT ASSETS - - - --------------------------------------------------- TOTAL ASSETS - - - =================================================== LIABILITIES ----------- POST-PETITION NOTES - - - POST-PETITION PAYABLES - THIRD PARTY - - - POST-PETITION PAYABLES - INTERCOMPANY - - - TOTAL POST-PETITION ACCRUALS - - - --------------------------------------------------- TOTAL POST-PETITION CURRENT LIABILITIES - - - TOTAL POST-PETITION NON-CURRENT LIABILITIES - - - TOTAL PREPETITION LIABILITIES 228 - - --------------------------------------------------- TOTAL LIABILITIES 228 - - TOTAL SHAREHOLDER'S EQUITY / (DEFICIT) (228) - - --------------------------------------------------- TOTAL LIABILITIES & EQUITY / (DEFICIT) - - - ===================================================
[Table continued] POLAROID CORPORATION AND DEBTOR SUBSIDIARY COMPANIES Statement of Financial Position As of June 29, 2003 (in U.S. $'s) Polaroid Polaroid Eyewear Polaroid Dry Online Far East Inc. Imaging LLC Services, Inc. ASSETS ------ TOTAL CASH - - - NET RECEIVABLES - THIRD PARTY - - - NET RECEIVABLES - INTERCOMPANY - - - NET INVENTORIES - - - TOTAL PREPAID EXPENSES - - - ----------------------------------------------------------------- TOTAL CURRENT ASSETS - - - ----------------------------------------------------------------- NET FIXED ASSETS - - - INVESTMENT IN DEBTOR SUBSIDIARY COMPANIES - - - OTHER NONCURRENT ASSETS - - - TOTAL NON-CURRENT ASSETS - - - ----------------------------------------------------------------- TOTAL ASSETS - - - ================================================================= LIABILITIES ----------- POST-PETITION NOTES - - - POST-PETITION PAYABLES - THIRD PARTY - - - POST-PETITION PAYABLES - INTERCOMPANY - - - TOTAL POST-PETITION ACCRUALS - - - ----------------------------------------------------------------- TOTAL POST-PETITION CURRENT LIABILITIES - - - TOTAL POST-PETITION NON-CURRENT LIABILITIES - - - TOTAL PREPETITION LIABILITIES - - - ----------------------------------------------------------------- TOTAL LIABILITIES - - - TOTAL SHAREHOLDER'S EQUITY / (DEFICIT) - - - ----------------------------------------------------------------- TOTAL LIABILITIES & EQUITY / (DEFICIT) - - - =================================================================
[Table continued] POLAROID CORPORATION AND DEBTOR SUBSIDIARY COMPANIES Statement of Financial Position As of June 29, 2003 (in U.S. $'s) Subtotal US Adjustments Eliminations Total ASSETS ------ TOTAL CASH 9,798,078 - - 9,798,078 NET RECEIVABLES - THIRD PARTY 0 - - 0 NET RECEIVABLES - INTERCOMPANY - - - - NET INVENTORIES - - - - TOTAL PREPAID EXPENSES - - - - --------------------------------------------------------------------------------- TOTAL CURRENT ASSETS 9,798,079 - - 9,798,079 --------------------------------------------------------------------------------- NET FIXED ASSETS - - - - INVESTMENT IN DEBTOR SUBSIDIARY COMPANIES 78,611,939 (78,461,939) (150,000) (0) OTHER NONCURRENT ASSETS 462,226 - - 462,226 TOTAL NON-CURRENT ASSETS 79,074,165 (78,461,939) (150,000) 462,226 --------------------------------------------------------------------------------- TOTAL ASSETS 88,872,244 (78,461,939) (150,000) 10,260,305 ================================================================================= LIABILITIES ----------- POST-PETITION NOTES - - - - POST-PETITION PAYABLES - THIRD PARTY 954,395 - - 954,395 POST-PETITION PAYABLES - INTERCOMPANY - - - - TOTAL POST-PETITION ACCRUALS 695,478 - - 695,478 --------------------------------------------------------------------------------- TOTAL POST-PETITION CURRENT LIABILITIES 1,649,873 - - 1,649,873 TOTAL POST-PETITION NON-CURRENT LIABILITIES - - - - TOTAL PREPETITION LIABILITIES 860,978,847 - - 860,978,847 --------------------------------------------------------------------------------- TOTAL LIABILITIES 862,628,720 - - 862,628,720 TOTAL SHAREHOLDER'S EQUITY / (DEFICIT) (773,756,476) (78,461,939) (150,000) (852,368,415) --------------------------------------------------------------------------------- TOTAL LIABILITIES & EQUITY / (DEFICIT) 88,872,244 (78,461,939) (150,000) 10,260,305 =================================================================================
POLAROID CORPORATION AND DEBTOR SUBSIDIARY COMPANIES Schedule of Pre-petition Liabilities As of June 29, 2003 (in U.S. $'s) Polaroid Polaroid Latin Polaroid Asia Corporation America Corp. Pacific Ltd. -------------------------------------------------------------- CURRENT LIABILITIES ------------------- Pre-Petition Notes: Bank Notes 17,858,030 - - Non-Interest Overdrafts - - - Current Long-Term Debt 573,900,990 - - -------------------------------------------------------------- PRE-PETITION NOTES 591,759,019 - - Pre-Petition Payables Trade Accounts Payable 58,663,695 162,520 - Interco Payables-US to Foreign - - - Interco Payables-Foreign to US - - - Interco Payables-Domestic Subs - - - Interco Payables-Foreign Subs - - - -------------------------------------------------------------- TOTAL PRE-PETITION PAYABLES 58,663,695 162,520 - Pre-Petition Accruals: Reserve Restructuring 11,452,323 - - Accrued Payroll & Related Expenses 8,692,842 - 64,705 Accrued Tax & Gov't Accounts - - - Accrued Income Taxes (17,456) - - Deferred Income Tax - Current - - - Accrued Warranty - - - Other Accrued Liabilities 48,992,819 31,007 - Post-Retirement Medical - - - Post-Employment Benefits - - - Other Accrued Taxes 11,984,603 - - -------------------------------------------------------------- TOTAL PRE-PETITION ACCRUALS 81,105,132 31,007 64,705 -------------------------------------------------------------- TOTAL PRE-PETITION CURRENT LIABILITIES 731,527,846 193,527 64,705 -------------------------------------------------------------- NON-CURRENT LIABILITIES ----------------------- Pre-Petition Non-Current Liabilities: Post-Retirement Medical - - - Post-Employment Benefits 31,510,165 - - Long-Term Debt - - - Deferred Taxes 1,891,782 8,639 - Other 94,670,253 - - -------------------------------------------------------------- TOTAL PRE-PETITION NON-CURRENT LIABILITIES 128,072,199 8,639 - -------------------------------------------------------------- TOTAL PRE-PETITION LIABILITIES 859,600,046 202,165 64,705 ==============================================================
[Table continued] POLAROID CORPORATION AND DEBTOR SUBSIDIARY COMPANIES Schedule of Pre-petition Liabilities As of June 29, 2003 (in U.S. $'s) Polaroid Polaroid Digital Inner City, Inc. Eyewear, Inc. Solutions, Inc. ------------------------------------------------------------------------ CURRENT LIABILITIES ------------------- Pre-Petition Notes: Bank Notes - - - Non-Interest Overdrafts - - - Current Long-Term Debt - - - ------------------------------------------------------------------------ PRE-PETITION NOTES - - - Pre-Petition Payables Trade Accounts Payable 77,106 - - Interco Payables-US to Foreign - - - Interco Payables-Foreign to US - - - Interco Payables-Domestic Subs - - - Interco Payables-Foreign Subs - - - ------------------------------------------------------------------------ TOTAL PRE-PETITION PAYABLES 77,106 - - Pre-Petition Accruals: Reserve Restructuring - - - Accrued Payroll & Related Expenses - - - Accrued Tax & Gov't Accounts - - - Accrued Income Taxes - - - Deferred Income Tax - Current - - - Accrued Warranty - - - Other Accrued Liabilities - - - Post-Retirement Medical - - - Post-Employment Benefits - - - Other Accrued Taxes - - - ------------------------------------------------------------------------ TOTAL PRE-PETITION ACCRUALS - - - ------------------------------------------------------------------------ TOTAL PRE-PETITION CURRENT LIABILITIES 77,106 - - ------------------------------------------------------------------------ NON-CURRENT LIABILITIES ----------------------- Pre-Petition Non-Current Liabilities: Post-Retirement Medical - - - Post-Employment Benefits - - - Long-Term Debt - - - Deferred Taxes - - - Other - - - ------------------------------------------------------------------------ TOTAL PRE-PETITION NON-CURRENT LIABILITIES - - - ------------------------------------------------------------------------ TOTAL PRE-PETITION LIABILITIES 77,106 - - ========================================================================
[Table continued] POLAROID CORPORATION AND DEBTOR SUBSIDIARY COMPANIES Schedule of Pre-petition Liabilities As of June 29, 2003 (in U.S. $'s) Polaroid ID Polaroid Sub Debt Systems, Inc. Malaysia, Ltd. Partners Corp. --------------------------------------------------------------------- CURRENT LIABILITIES ------------------- Pre-Petition Notes: Bank Notes - - - Non-Interest Overdrafts - - - Current Long-Term Debt - - - --------------------------------------------------------------------- PRE-PETITION NOTES - - - Pre-Petition Payables Trade Accounts Payable 614,635 - - Interco Payables-US to Foreign - - - Interco Payables-Foreign to US - - - Interco Payables-Domestic Subs - - - Interco Payables-Foreign Subs - - - --------------------------------------------------------------------- TOTAL PRE-PETITION PAYABLES 614,635 - - Pre-Petition Accruals: Reserve Restructuring - - - Accrued Payroll & Related Expenses - - - Accrued Tax & Gov't Accounts - - - Accrued Income Taxes 214,177 199,078 - Deferred Income Tax - Current - - - Accrued Warranty - - - Other Accrued Liabilities - - 673 Post-Retirement Medical - - - Post-Employment Benefits - - - Other Accrued Taxes - - - --------------------------------------------------------------------- TOTAL PRE-PETITION ACCRUALS 214,177 199,078 673 --------------------------------------------------------------------- TOTAL PRE-PETITION CURRENT LIABILITIES 828,812 199,078 673 --------------------------------------------------------------------- NON-CURRENT LIABILITIES ----------------------- Pre-Petition Non-Current Liabilities: Post-Retirement Medical - - - Post-Employment Benefits - - - Long-Term Debt - - - Deferred Taxes - - - Other - - - --------------------------------------------------------------------- TOTAL PRE-PETITION NON-CURRENT LIABILITIES - - - --------------------------------------------------------------------- TOTAL PRE-PETITION LIABILITIES 828,812 199,078 673 =====================================================================
[Table continued] POLAROID CORPORATION AND DEBTOR SUBSIDIARY COMPANIES Schedule of Pre-petition Liabilities As of June 29, 2003 (in U.S. $'s) PRD PRD Polaroid Memorial Investment, Inc. Capital, Inc. Drive LLC --------------------------------------------------------------------------- CURRENT LIABILITIES ------------------- Pre-Petition Notes: Bank Notes - - - Non-Interest Overdrafts - - - Current Long-Term Debt - - - --------------------------------------------------------------------------- PRE-PETITION NOTES - - - Pre-Petition Payables Trade Accounts Payable - - - Interco Payables-US to Foreign - - - Interco Payables-Foreign to US - - - Interco Payables-Domestic Subs - - - Interco Payables-Foreign Subs - - - --------------------------------------------------------------------------- TOTAL PRE-PETITION PAYABLES - - - Pre-Petition Accruals: Reserve Restructuring - - - Accrued Payroll & Related Expenses - - - Accrued Tax & Gov't Accounts - - - Accrued Income Taxes - - - Deferred Income Tax - Current - - - Accrued Warranty - - - Other Accrued Liabilities - - - Post-Retirement Medical - - - Post-Employment Benefits - - - Other Accrued Taxes - - - --------------------------------------------------------------------------- TOTAL PRE-PETITION ACCRUALS - - - --------------------------------------------------------------------------- TOTAL PRE-PETITION CURRENT LIABILITIES - - - --------------------------------------------------------------------------- NON-CURRENT LIABILITIES ----------------------- Pre-Petition Non-Current Liabilities: Post-Retirement Medical - - - Post-Employment Benefits - - - Long-Term Debt - - - Deferred Taxes - - - Other - - - --------------------------------------------------------------------------- TOTAL PRE-PETITION NON-CURRENT LIABILITIES - - - --------------------------------------------------------------------------- TOTAL PRE-PETITION LIABILITIES - - - ===========================================================================
[Table continued] POLAROID CORPORATION AND DEBTOR SUBSIDIARY COMPANIES Schedule of Pre-petition Liabilities As of June 29, 2003 (in U.S. $'s) Polaroid Asia Polaroid Pacific Partners, Inc. Polint, Inc. International, Inc. ------------------------------------------------------------------ CURRENT LIABILITIES ------------------- Pre-Petition Notes: Bank Notes - - - Non-Interest Overdrafts - - - Current Long-Term Debt - - - ------------------------------------------------------------------ PRE-PETITION NOTES - - - Pre-Petition Payables Trade Accounts Payable - - - Interco Payables-US to Foreign - - - Interco Payables-Foreign to US - - - Interco Payables-Domestic Subs - - - Interco Payables-Foreign Subs - - - ------------------------------------------------------------------ TOTAL PRE-PETITION PAYABLES - - - Pre-Petition Accruals: Reserve Restructuring - - - Accrued Payroll & Related Expenses - - 6,034 Accrued Tax & Gov't Accounts - - - Accrued Income Taxes - - - Deferred Income Tax - Current - - - Accrued Warranty - - - Other Accrued Liabilities - - - Post-Retirement Medical - - - Post-Employment Benefits - - - Other Accrued Taxes - - - ------------------------------------------------------------------ TOTAL PRE-PETITION ACCRUALS - - 6,034 ------------------------------------------------------------------ TOTAL PRE-PETITION CURRENT LIABILITIES - - 6,034 ------------------------------------------------------------------ NON-CURRENT LIABILITIES ----------------------- Pre-Petition Non-Current Liabilities: Post-Retirement Medical - - - Post-Employment Benefits - - - Long-Term Debt - - - Deferred Taxes - - - Other - - - ------------------------------------------------------------------ TOTAL PRE-PETITION NON-CURRENT LIABILITIES - - - ------------------------------------------------------------------ TOTAL PRE-PETITION LIABILITIES - - 6,034 ==================================================================
[Table continued] POLAROID CORPORATION AND DEBTOR SUBSIDIARY COMPANIES Schedule of Pre-petition Liabilities As of June 29, 2003 (in U.S. $'s) International Mag Media, PMC, Inc. Polaroid Corp. Limited ------------------------------------------------------- CURRENT LIABILITIES ------------------- Pre-Petition Notes: Bank Notes - - - Non-Interest Overdrafts - - - Current Long-Term Debt - - - ------------------------------------------------------- PRE-PETITION NOTES - - - Pre-Petition Payables Trade Accounts Payable - - - Interco Payables-US to Foreign - - - Interco Payables-Foreign to US - - - Interco Payables-Domestic Subs - - - Interco Payables-Foreign Subs - - - ------------------------------------------------------- TOTAL PRE-PETITION PAYABLES - - - Pre-Petition Accruals: Reserve Restructuring - - - Accrued Payroll & Related Expenses - - - Accrued Tax & Gov't Accounts - - - Accrued Income Taxes 228 - - Deferred Income Tax - Current - - - Accrued Warranty - - - Other Accrued Liabilities - - - Post-Retirement Medical - - - Post-Employment Benefits - - - Other Accrued Taxes - - - ------------------------------------------------------- TOTAL PRE-PETITION ACCRUALS 228 - - ------------------------------------------------------- TOTAL PRE-PETITION CURRENT LIABILITIES 228 - - ------------------------------------------------------- NON-CURRENT LIABILITIES ----------------------- Pre-Petition Non-Current Liabilities: Post-Retirement Medical - - - Post-Employment Benefits - - - Long-Term Debt - - - Deferred Taxes - - - Other - - - ------------------------------------------------------- TOTAL PRE-PETITION NON-CURRENT LIABILITIES - - - ------------------------------------------------------- TOTAL PRE-PETITION LIABILITIES 228 - - =======================================================
[Table continued] POLAROID CORPORATION AND DEBTOR SUBSIDIARY COMPANIES Schedule of Pre-petition Liabilities As of June 29, 2003 (in U.S. $'s) Polaroid Polaroid Eyewear Polaroid Dry Online Far East Inc. Imaging LLC Services, Inc. ------------------------------------------------------------------------- CURRENT LIABILITIES ------------------- Pre-Petition Notes: Bank Notes - - - Non-Interest Overdrafts - - - Current Long-Term Debt - - - ------------------------------------------------------------------------- PRE-PETITION NOTES - - - Pre-Petition Payables Trade Accounts Payable - - - Interco Payables-US to Foreign - - - Interco Payables-Foreign to US - - - Interco Payables-Domestic Subs - - - Interco Payables-Foreign Subs - - - ------------------------------------------------------------------------- TOTAL PRE-PETITION PAYABLES - - - Pre-Petition Accruals: Reserve Restructuring - - - Accrued Payroll & Related Expenses - - - Accrued Tax & Gov't Accounts - - - Accrued Income Taxes - - - Deferred Income Tax - Current - - - Accrued Warranty - - - Other Accrued Liabilities - - - Post-Retirement Medical - - - Post-Employment Benefits - - - Other Accrued Taxes - - - ------------------------------------------------------------------------- TOTAL PRE-PETITION ACCRUALS - - - ------------------------------------------------------------------------- TOTAL PRE-PETITION CURRENT LIABILITIES - - - ------------------------------------------------------------------------- NON-CURRENT LIABILITIES ----------------------- Pre-Petition Non-Current Liabilities: Post-Retirement Medical - - - Post-Employment Benefits - - - Long-Term Debt - - - Deferred Taxes - - - Other - - - ------------------------------------------------------------------------- TOTAL PRE-PETITION NON-CURRENT LIABILITIES - - - ------------------------------------------------------------------------- TOTAL PRE-PETITION LIABILITIES - - - =========================================================================
[Table continued] POLAROID CORPORATION AND DEBTOR SUBSIDIARY COMPANIES Schedule of Pre-petition Liabilities As of June 29, 2003 (in U.S. $'s) Subtotal US Adjustments Eliminations Total ------------------------------------------------------------------------------- CURRENT LIABILITIES ------------------- Pre-Petition Notes: Bank Notes 17,858,030 - - 17,858,030 Non-Interest Overdrafts - - - - Current Long-Term Debt 573,900,990 - - 573,900,990 ------------------------------------------------------------------------------- PRE-PETITION NOTES 591,759,019 - - 591,759,019 Pre-Petition Payables Trade Accounts Payable 59,517,956 - - 59,517,956 Interco Payables-US to Foreign - - - - Interco Payables-Foreign to US - - - - Interco Payables-Domestic Subs - - - - Interco Payables-Foreign Subs - - - - ------------------------------------------------------------------------------- TOTAL PRE-PETITION PAYABLES 59,517,956 - - 59,517,956 Pre-Petition Accruals: Reserve Restructuring 11,452,323 - - 11,452,323 Accrued Payroll & Related Expenses 8,763,581 - - 8,763,581 Accrued Tax & Gov't Accounts - - - - Accrued Income Taxes 396,027 - - 396,027 Deferred Income Tax - Current - - - - Accrued Warranty - - - - Other Accrued Liabilities 49,024,499 - - 49,024,499 Post-Retirement Medical - - - - Post-Employment Benefits - - - - Other Accrued Taxes 11,984,603 - - 11,984,603 ------------------------------------------------------------------------------- TOTAL PRE-PETITION ACCRUALS 81,621,033 - - 81,621,033 ------------------------------------------------------------------------------- TOTAL PRE-PETITION CURRENT LIABILITIES 732,898,009 - - 732,898,009 ------------------------------------------------------------------------------- NON-CURRENT LIABILITIES ----------------------- Pre-Petition Non-Current Liabilities: Post-Retirement Medical - - - - Post-Employment Benefits 31,510,165 - - 31,510,165 Long-Term Debt - - - - Deferred Taxes 1,900,421 - - 1,900,421 Other 94,670,253 - - 94,670,253 ------------------------------------------------------------------------------- TOTAL PRE-PETITION NON-CURRENT LIABILITIES 128,080,838 - - 128,080,838 ------------------------------------------------------------------------------- TOTAL PRE-PETITION LIABILITIES 860,978,847 - - 860,978,847 ===============================================================================
[The Bank of New York Letterhead] Business Banking Statement Period: 05/31/03 to 06/30/03 Page: 1 of 4 Enclosures: 36 5174 --9--K PRIMARY PDC, INC 1265 MAIN ST WALTHAM, MA 02451-1743 Summary Credit of Accounts Account Type Account No. Assets Loans Available Checking Account 690-3534891 155,000.00 Mutual Fund 76001691637 6,295,043.30 ------------------------------------------------------------------------------------------------ TOTAL 6,450,043.30 .00 .00 ------------------------------------------------------------------------------------------------ --------------------------------------------------------------------------------------------------------------------- Mutual Fund MUTUAL FUNDS Information o are NOT insured by the FDIC o are NOT deposits or other obligations of The Bank of New York and are NOT guaranteed by The Bank of New York; and o are subject to investment risks, including possible loss of principal amount invested. Check Activity Account No. 690-3534891 Invest Date Description Debits Credits Balance ------------------------------------------------------------------------------------------------------ 05/31 OPENING BALANCE 155,696.33 ------------------------------------------------------------------------------------------------------ 06/02 CHECKINVEST TRANSFER 696.33- 155,000.00 06/03 2 CHECKS 10,681.25- 144,318.75 06/03 CHECKINVEST TRANSFER 10,681.25 155,000.00 06/04 5 CHECKS 256,683.01- 101,683.01- 06/04 CHECKINVEST TRANSFER 256,683.01 155,000.00 06/06 1 CHECK 7,055.88- 147,944.12 06/06 CHECKINVEST TRANSFER 7,055.88 155,000.00 06/09 1 CHECK 1,982.00- 153,018.00 06/09 CHECKINVEST TRANSFER 1,982.00 155,000.00 06/11 1 CHECK 3,558.80- 151,441.20 06/11 CHECKINVEST TRANSFER 3,558.80 155,000.00 06/12 8 CHECKS 2,574.99- 152,425.01 06/12 CHECKINVEST TRANSFER 2,574.99 155,000.00 06/13 2 CHECKS 25,594.86- 129,405.14 06/13 CHECKINVEST TRANSFER 25,594.86 155,000.00 06/16 3 CHECKS 23,550.83- 131,449.17 06/16 CHECKINVEST TRANSFER 23,550.83 155,000.00 06/17 3 CHECKS 126,322.86- 28,677.14 06/17 CHECKINVEST TRANSFER 126,322.86 155,000.00 06/18 1 CHECK 35,208.96- 119,791.04 06/18 CHECKINVEST TRANSFER 35,208.96 155,000.00
[JPMorganChase Letterhead] May 31, 2003 - June 30, 2003 Page 1 of 1 507 000 TS Business Statement POLAROID-OEP IMAGING CORPORATION Customer Service ATTN: KEVIN R. POND If there are any questions regarding PRIMARY PDC INC. your account, please call your 1265 MAIN STREET Relationship Manager. WALTHAM MA 02451 Primary Account Number 507-895053 Number of Checks Enclosed: 0 Money Market Account 507-895053 POLAROID-OEP IMAGING CORPORATION --------------------------------------------------------------------------------------------------------------------------- Summary Number Amount Opening Balance $4,041,735.68 .......................................................................................................... Deposits and Credits 1 $2,400.68 .......................................................................................................... Withdrawals and Debits $0.00 .......................................................................................................... Checks Paid $0.00 --------------------------------------------------------------------------------------------------------------------------- Ending Balance $4,044,136.18 ---------------------------------------------------------------------------------------------------------- Average Balance $4,041,735.83 .......................................................................................................... Interest Paid for 30 Day(s) $2,400.68 Interest Credited Year to Date $14,975.18 Interest Rate(s): 06/23 to 06/23 at 0.71% 06/24 to 06/24 at 0.65% 06/25 to 06/25 at 0.68% 06/26 to 06/28 at 0.60% 06/27 to 06/29 at 0.58% 06/30 to 06/30 at 0.95% Deposits and Date Description Amount Credits ................................................................................................................ 06/30 Interest Paid $2,400.68 ---------------------------------------------------------------------------------------------------------------- Total $2,400.68 --------------------------------------------------------------------------------------------------------------------------------- Daily Balance ............................ ......................... ................................ Date Balance Date Balance Date Balance ............................ ......................... ................................ 06/30 $4,044,136.18
Exhibit B Monthly Operating Reports Service Parties Kevin Pond William H. Sudell, Jr., Esq. Polaroid Corporation Morris Nichols, Arsht & Tunnell f/k/a Primary PDC, Inc. 1201 North Market Street 1265 Main Street Wilmington, DE 19899 Waltham, MA 02451 By Hand-Delivery By Overnight Courier Patricia Schrage, Esq. Mark Kenney, Esq. Securities & Exchange Office of the U.S. Trustee Commission 844 King Street New York Office Wilmington, DE 19899 Branch/Reorganization By Hand-Delivery 233 Broadway New York, NY 10279 Brendan Linehan Shannon, Esq. By Overnight Courier Young Conaway Stargatt & Taylor LLP The Brandywine Building, 17th Perry M. Mandarino Floor Partner 1000 West Street Traxi LLC P.O. Box 391 212 West 35th Street Wilmington, DE 19899 New York, New York 10001 By Hand-Delivery By Overnight Courier Fred Hodara, Esq. Laura Davis Jones, Esq. Philip Dublin, Esq. Rachel Lowy Werkheiser, Esq. Akin, Gump, Strauss, Hauer Pachulski Stang Ziehl Young & Feld, L.L.P. Jones & Weintraub P.C. 590 Madison Avenue 919 N. Market Street, 16th Floor New York, NY 10022 P.O. Box 8705 (19899) By Overnight Courier Wilmington, DE 19801 By Hand-Delivery Marshall Huebner, Esq. Davis, Polk & Wardwell Marc A. Beilinson, Esq. 450 Lexington Avenue Ellen M. Bender, Esq. New York, NY 10017 Pachulski Stang Ziehl Young By Overnight Courier Jones & Weintraub P.C. 10100 Santa Monica Blvd., Suite Robert Scheibe, Esq. 1100 Morgan, Lewis & Bockius LLP Los Angeles, CA 90067 101 Park Avenue By Overnight Courier New York, NY 10178 By Overnight Courier Michael E. Foreman, Esq. James D. Meade, Esq. Adam Harris, Esquire Proskauer Rose LLP O'Melveny & Myers LLP 1585 Broadway 30 Rockefeller Plaza New York, NY 10036-8299 New York, New York 10112-0002 By Overnight Courier By Overnight Courier