EX-99.4 6 v83653exv99w4.txt EXHIBIT 99.4
---------------------------------------------------------------- OFFICE OF THE UNITED STATES TRUSTEE ---------------------------------------------------------------- ----------------------------------------------------- -------------------------------------------------------- In re: DEBTOR IN POSSESSION OPERATING REPORT The Kushner-Locke Company Report Number: 7 Page 1 of 2 ------------- Chapter 11 For the Period FROM: 5/1/2002 ------------- Case No. LA 01-44828-SB (Administratively Consolidated with TO: 5/31/2002 Case Nos. LA 01-44829-SB through LA 01-44831-SB; LA 01- ------------- 44833-SB through LA 01-44836-SB; and LA 01-44841-SB) ----------------------------------------------------- -------------------------------------------------------- 1 Profit and Loss Statement (Accrual Basis Only) A. Related to Business Operations Gross Sales $ 40,000 ---------- Costs Related to Revenues (Film Cost Amortization) -- ---------- Gross Profit 40,000 ----------- Less: Operating Expenses Officer Compensation 28,950 ---------- Salaries and Wages - Other Employees 30,226 ---------- Total Salaries and Wages 59,176 ---------- Employee Benefits and Pensions 8,138 ---------- Employer Payroll Taxes/Fees 3,631 ---------- Other Taxes -- ---------- Total Taxes 3,631 ---------- Rent and Lease Expense (including parking) 4,720 ---------- Distribution/Delivery Expenses 34 ---------- Interest Expense -- ---------- Insurance ---------- Automobile Expense/Mileage ---------- Utilities (incl. Phone, phone equipment, internet) 2,259 ---------- Depreciation and Amortization -- ---------- Business Equipment Leases 520 ---------- Business Expense reimbursement ---------- Storage Expense 7,068 ---------- Supplies, Office Expenses, Photocopies, etc. ---------- Bad Debts -- ---------- Miscellaneous Operating Expenses 384 ---------- Total Operating Expenses 85,930 ---------- Net Gain/Loss from Business Operations (45,930) ----------- B. Not related to Business Operations Income Interest Income ---------- Other Non-Operating Revenues -- ---------- Gross Proceeds on Sale of Assets -- ---------- Less: Original Cost of Assets plus expenses of sale -- ---------- Net Gain/Loss on Sale of Assets -- ---------- Total Non-Operating Income -- ----------- Expenses Not Related to Business Operations Legal and Professional Service Fees (Covered by prepetition retainer) 35,079 ---------- Other Non-Operating Expenses (Board/Trustee fees) 9,582 ---------- Total Non-Operating Expenses 44,661 ----------- NET INCOME/(LOSS) FOR PERIOD $ (90,591) ===========
--------------------------------------------------------------------------------------------------------------------- DEBTOR IN POSSESSION OPERATING REPORT NO: 7 Page 2 of 2 --------------------------------------------------------------------------------------------------------------------- 2 Aging of Accounts Payable and Accounts Receivable (exclude prepetition accounts payable): Accounts Accounts Payable Receivable -------------- ------------- Current Under 30 days -- -------------- ------------- Overdue 31-60 days -- -- -------------- ------------- Overdue 61-90 days -- -------------- ------------- Overdue 91-120 days -- -------------- ------------- Overdue Over 121 days -- 7,599,184 -------------- ------------- Due in the Future -- 4,032,400 -------------- ------------- TOTAL -- 11,631,584 -------------- ------------- 3 Statement of Status of Payments to Secured Creditors and Lessors: No payments to Secured Creditors or Lessors were paid or payable during the reporting period. 4 Tax Liability No tax payments were paid or payable during the reporting period other than payroll taxes shown above. ------------- ------------------------------ ---------------- 5 Insurance Coverage Carrier/ Amount of Policy Premium Paid Agent Name Coverage Expiration Date Through Date ------------- ----------- --------------- -------------- Worker's Compensation (RENEWED 1/11/02) St. Paul 1,000,000 1/14/2003 1/14/2003 Commercial Property (RENEWED) St. Paul 2,000,000 2/14/2003 2/14/2003 Commercial Umbrella St. Paul 10,000,000 2/14/2002 2/14/2002 Guild Travel Accident Coverage Hartford 500,000 2/14/2002 2/14/2002 Crime/Fiduciary Liability Federal 1,000,000 2/14/2002 2/14/2002 Foreign GL & WC ACE American 1,000,000 2/14/2002 2/14/2002 Errors & Omissions - Productions AIG 6,000,000 3/3/2002 3/3/2002 Errors & Omissions - Library (RENEWED) St. Paul 3,000,000 3/3/2003 3/3/2003 Directors and Officers Nat'l Union 10,000,000 8/21/2002 8/21/2002 Employment Practices Liability Nat'l Union 5,000,000 10/31/2002 10/31/2002 Life, Peter Locke: (Beneficiary: Company) Jefferson 5,000,000 2/14/2002 2/14/2002 Life, Donald Kushner: (Beneficiary: Company) Lincoln 5,000,000 2/14/2002 2/14/2002 6 Questions: A. Has the Debtor in Possession provided compensation to any officers, directors, shareholders, or other principals without the approval of the Office of the United States Trustee? [ ] Yes Explain: [x] No B. Has the Debtor in Possession, subsequent to the filing of the petition, made any payments on its prepetition unsecured debt, except as authorized by the Court? [ ] Yes Explain: [x] No 7 Statement on Unpaid Professional Fees (Postpetition Amounts Only) Total unpaid post-petition Professional Fees during the reporting period: $548,273.18 8 Narrative Report of Significant Events and Events out of the Ordinary Course of Business: None. 9 Quarterly Fees: Paid Quarterly Fee I, Alice Neuhauser, declare under penalty of perjury that the information contained in the above Debtor in Possession Interim Statement is true and correct to the best of my knowledge. /s/ Alice P. Neuhauser ------------------------------------------------ Debtor in Possession