EX-99.1 3 v91421exv99w1.txt EXHIBIT 99.1 ------------------------------------------------------------------------------- OFFICE OF THE UNITED STATES TRUSTEE ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- In re: The Kushner-Locke Company Chapter 11 Case No. LA 01-44828-SB (Administratively Consolidated with 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) ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- DEBTOR IN POSSESSION OPERATING REPORT Report Number: 19 Page 1 of 2 ------------------- For the Period FROM: 5/1/2003 ------------------- TO: 5/31/2003 ------------------- ------------------------------------------------------------------------------- 1 Profit and Loss Statement (Accrual Basis Only) A. Related to Business Operations Gross Sales $ -- ------------- Costs Related to Revenues (Film Cost Amortization) ------------- Gross Profit -- ----------- Less: Operating Expenses Officer Compensation 24,450 ------------ Salaries and Wages - Other Employees 27,876 ------------ Total Salaries and Wages 52,326 ------------- Employee Benefits and Pensions 2,504 ------------- Employer Payroll Taxes/Fees 1,475 ------------ Other Taxes 1,453 ------------ Total Taxes 2,928 ------------- Rent and Lease Expense (including parking) 2,360 ------------ Distribution/Delivery Expenses 124 ------------ Interest Expense ------------ Insurance ------------ Automobile Expense/Mileage ------------ Utilities (incl. Phone, phone equipment, internet) 769 ------------ Depreciation and Amortization ------------ Business Equipment Leases 260 ------------ Business Expense reimbursement ------------ Storage Expense 7,578 ------------ Supplies, Office Expenses, Photocopies, etc. ------------ Bad Debts ------------ Miscellaneous Operating Expenses 983 ------------ Total Operating Expenses 69,831 ------------- Net Gain/Loss from Business Operations (69,831) ----------- 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 37,550 ------------- Other Non-Operating Expenses (Board/Trustee fees) 3,500 ------------- Total Non-Operating Expenses 41,050 ----------- NET INCOME/(LOSS) FOR PERIOD $ (110,880) ===========
------------------------------------------------------------------------------- DEBTOR IN POSSESSION OPERATING REPORT NO: 19 Page 2 of 2 ------------------------------------------------------------------------------- 2 Aging of Accounts Payable and Accounts Receivable (exclude prepetition accounts payable):
------------------------------------ Accounts Accounts Payable Receivable ------------------------------------ Current Under 30 days 1,304 -- ------------------------------------ Overdue 31-60 days -- -- ------------------------------------ Overdue 61-90 days -- -- ------------------------------------ Overdue 91-120 days -- -- ------------------------------------ Overdue Over 121 days -- -- ------------------------------------ Due in the Future -- 2,202,334 ------------------------------------ TOTAL 1,304 2,202,334 ------------------------------------
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) St. Paul 1,000,000 1/14/2004 1/14/2004 Commercial Property (RENEWED) St. Paul 2,000,000 2/14/2004 2/14/2004 Errors & Omissions - Library (RENEWED) St. Paul 3,000,000 3/3/2004 3/3/2004 Employment Practices Liability (RENEWED-run off) Nat'l Union 5,000,000 10/30/2003 10/30/2003
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: $892,604.45
8 Narrative Report of Significant Events and Events out of the Ordinary Course of Business: None. 9 Quarterly Fees: Paid 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 Neuhauser ----------------------------------- Debtor in Possession