-----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, O9ipwact7aTQa5n666oJtacSBD1R/EqfizBNTlZwl2GBw5QVXgMxw8HsO+J2YkiI gM4N3EHqMD7yQn8DJzghMQ== 0000898430-01-001252.txt : 20010410 0000898430-01-001252.hdr.sgml : 20010410 ACCESSION NUMBER: 0000898430-01-001252 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010228 ITEM INFORMATION: FILED AS OF DATE: 20010405 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MATTHEWS STUDIO EQUIPMENT GROUP CENTRAL INDEX KEY: 0000855575 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EQUIPMENT RENTAL & LEASING, NEC [7359] IRS NUMBER: 951447751 STATE OF INCORPORATION: CA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-18102 FILM NUMBER: 1595700 BUSINESS ADDRESS: STREET 1: 3111 N KENWOOD ST CITY: BURBANK STATE: CA ZIP: 91505 BUSINESS PHONE: 8185255200 MAIL ADDRESS: STREET 1: 2405 EMPIRE AVENUE CITY: BURBANK STATE: CA ZIP: 91504 8-K 1 0001.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) February 28, 2001
MATTHEWS STUDIO EQUIPMENT GROUP - -------------------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) California - -------------------------------------------------------------------------------------------- (State or other jurisdiction of incorporation) 0-18102 95-1447751 - -------------------------------------------------------------------------------------------- (Commission file number) (I.R.S. Employer Identification Number) 3111 North Kenwood Street, Burbank, CA 91505 - -------------------------------------------------------------------------------------------- (Address of principal executive office) (Zip Code) (818) 525-5200 - -------------------------------------------------------------------------------------------- (Registrant's telephone number, including area code) N/A - -------------------------------------------------------------------------------------------- (Former name, former address and former fiscal year, if changed since last report)
Item 3. Bankruptcy or Receivership On April 6, 2000, the Registrant filed for protection under Chapter 11 of the federal bankruptcy laws in the United States Bankruptcy Court, Central District of California, San Fernando Valley Division. The Registrant is filing its monthly report to the United States Bankruptcy Court for the period ended February 28, 2001, which was filed with the bankruptcy court on April 4, 2001 2 SIGNATURES Pursuant to the requirement of the Securities Exchange Act of 1934, the registrant has duly caused this report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized. MATTHEWS STUDIO EQUIPMENT GROUP (Registrant) Date: April 4, 2001 By: /s/ Ellen Gordon ----------------- Ellen Gordon Estate Representative 3 (2)(c) Exhibits EXHIBIT INDEX Exhibit Document Description - ------- -------------------- 99.9 Report to United States Bankruptcy Court for February 28, 2001. EX-99.9 2 0002.txt REPORT TO U.S. BANKRUPTCY COURT
OFFICE OF THE UNITED STATES TRUSTEE ----------------------------------------------------------------------------------------------------------- IN RE: ) DEBTOR IN POSSESSION OPERATING REPORT ) ------------------------------------- MATTHEWS STUDIO EQUIPMENT GROUP & SUBSIDIARIE ) REPORT NUMBER 11 Page 1 of 3 ) FOR THE PERIOD FROM:February 1, 2001 ) TO: February 28, 2001 ) ------------------------------------------------- ) ------------------------------------------------- CHAPTER 11 CASE NO. SV00-13471KL ) ------------------------------------------------- SEE ATTACHED 1. Profit and Loss Statement A. Related to Business Operations: Gross Sales ------------------ Less Sales Returns and Discounts ------------------ - Net Sales - ----------------- Less: Cost of Goods Sold ------------------ Beginning Inventory at Cost __________________ Add: Purchases - __________________ Less: Ending Inventory at Cost Cost of Goods Sold - __________________ - _________________ Gross Profit - _________________ Other Operating Revenue (Specify) Less: Operating Expenses Officer Compensation __________________ Salaries & Wages - Other Employees __________________ - Total Salaries & Wages ____________________ Employee Benefits - ____________________ Payroll Taxes __________________ Real Estate Taxes (Personal Property Tax) __________________ Federal and State Income Taxes __________________ - Total Taxes ___________________ Rent and Lease Exp. (Real and Personal Property) - __________________ Interest Expense (Mortgage, Loan, etc.) - __________________ Insurance __________________ Automobile Expense __________________ Utilities (Gas, Electric, Water, Telephone, etc.) __________________ Depreciation and Amortization __________________ Repairs and Maintenance __________________ Advertising - __________________ Supplies, Office Expenses, Photocopies, etc. __________________ Bad Debts - __________________ - Miscellaneous Operating Expenses (Specify) _________________________________________ - Total Operating Expenses _________________ - Net Gain/(Loss) from Business Operations _________________ B. Not Related to Business Operations Income: Interest Income ____________________ Other Non-Operating Revenues (Specify) ____________________ 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 Fees Other Non-Operating Expenses (Specify) _________________ Total Non-Operating Expenses _________________ - _________________ - NET INCOM /(LOSS) FOR PERIOD ================= - ------------------------------------------------------------------------------------------------------------------------------ Revised April 1989 OPERATING REPORT UST-4 - ------------------------------------------------------------------------------------------------------------------------------
MATTHEWS STUDIO EQUIPMENT GROUP & SUBSIDIARIES Statement of Operations for the Period Feb. 28, 01 - --------------------------------------------------------------------------------------------- ($000's) REVENUES Sales 34 Rental revenues 607 ------------- Total revenues 641 Cost of goods sold 22 Cost of rental operation 138 ------------- Total cost of sales and rental 160 Gross profits 481 Selling expense 6 General & administration 83 ------------- Total operating expenses 89 Operating profit 392 Depreciation & amortization 258 Coporate Interest allocation - DIP Interest 1 Other income & expenses - ------------- Earnings before reorganization items & income tax provision 133 Reorganization items: Loss from sales of assets/Closing cost of facility 233 Professional fees 565 Provision for rejected executory contracts - Interest earned on accumulated cash resulting from chapter 11 Proceeding (4) ------------- Total reorganization items 794 Income(loss) before income tax provision (661) Income tax (benefits) - ------------- Net income (661) =============
- ------------------------------------------------------------------------------------------------------------ DEBTOR IN POSSESSION OPERATING REPORT NO. 11 - ------------------------------------------------------------------------------------------------------------ Page 2 of 3 2. Aging of Accounts Payable and Receivable (exclude pre-petition debt from accounts payable): Accounts Payable Accounts Receivable ------------------------------------------- Current Under 30 days $ 18,460 $510,875 Overdue 31 - 60 days $ 4,137 $ 17,396 Overdue 61 - 90 days $ 6,344 $ 6,082 Overdue 91 - 120 days $ 71,755 $ 0 Overdue 121 + days $124,082 $919,932 ------------------------------------------- Total $224,778 $1,454,285 -------------------------------------------
3. Statement of Status of Payments to Secured Creditors and Lessors: SEE ATTACHED - ------------------------------------------------------------------------------------------------------------- Post-Petition Frequency of Payments Not Made Payments per Amount of ------------------------- Creditor/Lessor Lease/Contract Each Payment Next Payment Due Number Amount - ------------------------------------------------------------------------------------------------------------- - -------------------------------------------------------------------------------------------------------------
4. Tax Liability: Gross Payroll Expense For Period $107,095 *SEE NOTE -------------------- Gross Sales for Period Subject to Sales Tax $305,153 --------------------
------------------------------------------------------------------------- Post Petition Taxes Date Paid Amount Paid * Still Owing ------------------------------------------------------------------------- Federal Payroll and Withholding Taxes 22-02-2001 $28,410 $5,657 State Payroll and Withholding Taxes 22-02-2001 $8,415 $1,686 State Sales and Use Tax 19-02-2001 $23,802 $12,969 Real Property Taxes $0 $0 ------------------------------------------------------------------------- * Attach photocopies of depository receipts from taxing authority or financial institution to verify that such deposits or payments have been made.
5. Insurance Coverage -------------------------------------------------------------------------- Carrier/ Amount of Policy Premium Paid Agent Coverage Exp. Date Thru Date -------------------------------------------------------------------------- Worker's Compensation GULF INS CO 4/1/2001 4/1/2001 Liability GULF INS CO SEE 4/1/2001 4/1/2001 Fire and Extended Coverage GULF INS CO ATTACHED 4/1/2001 4/1/2001 Property GULF INS CO (Not filed with FORM 8K) 4/1/2001 4/1/2001 Theft CNA 4/1/2001 4/1/2001 Life (Beneficiary:________________) TRANSAMERICA Vehicle GULF INS CO 4/1/2001 4/1/2001 Other INSURANCE WEST 4/1/2001 4/1/2001 ------------------------------------------------------------------------- *NOTE: PAYROLL IS PAID BY MATTHEWS STUDIO EQUIPMENT GROUP, AND IS ALLOCATED TO THE SUBSIDIARY INCURRING THE PAYROLL EXPENSE. ALL PAYROLL TAXES ARE PAID BY ADP
2A MATTHEWS STUDIO EQUIPMENT GROUP & SUBSIDIARIES SECURED CREDITORS AND LESSORS FEB. 28, 2001 CREDIT FACILITY - ----------------------------------------------
MONTHLY UNPAID BINDER TAB DESCRIPTION COMPANY PAYMENT POST PET ------ --- ----------------------------------- ----------- ---------- ------------ CRF98 39 IBM Credit Corp - AS400/JBA Software Group 7.866 7.866 V 85 Xerox - Copier #C0H-010403 Group - Acct 558 0 CRF98 40 Pitney Bowes - Postage meter Four Star 167 0 CRF98 12 Minolta Copier Corp - Copier/Fax Four Star 264 0
- -------------------------------------------------------------------------------- DEBTOR IN POSSESSION OPERATING REPORT NO.11 - -------------------------------------------------------------------------------- Page 3 of 3 6. Questions: A. Has the Debtor provided to any officers, directors, shareholders, or other principals compensation without the approval of the Office of the United States Trustee? _____ : Yes Explain: __________________________ X : No B. Has the Debtor, subsequent to the filing of the petition made any payments on its pre-petition unsecured debt, except as have been authorized by the Court? _____ : Yes Explain: __________________________ X : No 7. Statement of Unpaid Professional Fees (Post-Petition Only):
---------------------------------------------------------------------------- Type Post-Petition Name of Professional Professional Unpaid Total** ---------------------------------------------------------------------------- Crossroads, LLC Turnaround management 71,986 Estimated ---------------------------------------------------------------------------- George Nicolais Financial advisor 3,675 Estimated ---------------------------------------------------------------------------- Klee Tuchin Bogdanoff & Stern Counsel 50,169 Estimated ---------------------------------------------------------------------------- Latham Watkins Counsel - ---------------------------------------------------------------------------- Stutman Treister Counsel 26,329 Estimated ---------------------------------------------------------------------------- Imperial Capital, LLC Financial advisor - ---------------------------------------------------------------------------- Holland & Knight Counsel 39,582 Estimated ---------------------------------------------------------------------------- Ernst & Young Independent Auditors - 0 ----------------------------------------------------------------------------
**NOTE: Professional fees are paid by Matthews Studio Equipment Group for all the subsidiaries. 8. Narrative Report of Significant Events And Events Out Of The Ordinary Course of Business: N/A 9. Quarterly Fees: (This Fee must be paid to the United States Trustee every calendar quarter)
- --------------------------------------------------------------------------------------------------------------------------------- Quarterly Quarterly Disbursements Quarterly Quaterly Period Ending for Quarter Fee Date Paid Amount Paid Check No. Fee Still Owing - --------------------------------------------------------------------------------------------------------------------------------- 6/30/2000 $7,108,942.00 $24,500.00 7/31/2000 $24,500.00 2408 9/30/2000 $7,208,343.00 $21,500.00 10/24/2000 $21,500.00 1395 12/31/2000 $7,053,994.00 $21,000.00 01/26/2001 $21,000.00 1543 - ---------------------------------------------------------------------------------------------------------------------------------
I, Ellen Gordon, Estate Representative, declare under penalty of perjury that the information contained in the above Debtor in Possession Operating Report is true and complete to the best of my knowledge. Dated: March 26, 2001 Signed: /s/ Ellen Gordon
- ----------------------------------------------------------------------------------------------------------------------------------- OFFICE OF THE UNITED STATES TRUSTEE CENTRAL DISTRICT OF CALIFORNIA - ----------------------------------------------------------------------------------------------------------------------------------- _____________________________________________ IN RE: ) DEBTOR IN POSSESSION INTERIM STATEMENT ) Matthews Studio Equipment Group ) STATEMENT NO. 11 ) FOR THE PERIOD FROM: 02/01/01 DEBTOR ) TO: 02/28/01 ) - -------------------------------------------- ) CHAPTER 11 CASE NO. SV 00 13471 KL ) _____________________________________________) General Concentration Payroll Tax Pre-Chapter Account Account Account Account Payroll CASH ACTIVITY ANALYSIS ------------------------------------------------------------------------------- A. Total Receipts Per All Prior Interim Statements $27,201,390.35 $19,918,227.28 $294,481.71 $0.00 $5,790,086.70 B. Less: Total Disbursements Per All Prior $27,201,390.35 $19,148,220.09 $294,481.71 $0.00 $5,798,977.59 Interim Statements C. Beginning Balance $ 0.00 $ 770,007.19 $ 0.00 $0.00 $ (8,890.89) D. Receipts During Current Period Per Attached Schedule (Not filed with Form 8K) $ 1,073,576.56 $ 1,467,898.96 $ 125.22 $0.00 $ 27,730.52 E. Balance Available $ 1,073.576.56 $ 2,237,906.15 $ 125.22 $0.00 $ 18,839.63 F. Less: Disbursements During Period Per Attached Schedule (Not filed with $ 1,073,576.56 $ 1,026,060.65 $ 125.22 $0.00 15,332.26 Form 8K) G. Ending Balance $ 0.00 $ 1,211,845.50 $ 0.00 $0.00 $ 3,507.37 ------------------------------------------------------------------------------- Investment Professional CD 5-month CD Account Account Account Account ------------------------------------------------------------------------------- A. Total Receipts Per All Prior Interim Statements $ 3,411,733.71 $ 2,476,654.84 $330,765.54 $14,066,090.22 B. Less: Total Disbursements Per All Prior $ 2,522,367.92 $ 2,476,654.84 $330,765.54 $0.00 Interim Statements C. Beginning Balance $ 889,365.79 $ 0.00 $ 0.00 $14,066,090.22 D. Receipts During Current Period Per Attached Schedule (Not filed with Form 8K) $ 200,714.67 $ 120,528.64 $ 25,000.00 $ -- E. Balance Available $ 1,090.080.46 $ 120,528.64 $ 25,000.00 $14,066,090.22 F. Less: Disbursements During Period Per Attached Schedule (Not filed with $ 371,984.64 $ 120,528.54 $ -- $ -- Form 8K) G. Ending Balance $ 718,095.82 $ 0.00 $ 25,000.00 $14,066,090.22 -------------------------------------------------------------------------------
H. ACCOUNT INFORMATION (1). General Account (a) City National Bank 4605 Lankershim Blvd. No. Hollywood, Ca. (b) 411952738 (2). Concentration Account (a) City National Bank 4605 Lankershim Blvd. No. Hollywood, Ca. (b) 411952886 (3). Payroll Account (a) City National Bank 4605 Lankershim Blvd. No. Hollywood, Ca. (b) 411952800 (4). Tax Account (a) City National Bank 4605 Lankershim Blvd. No. Hollywood, Ca. (b) 411952851 (5). Pre-Chapter Payroll Account (a) Western Security Bank 4100 W. Alameda Avenue, Burbank, Ca. (b) 001064088 (6). Investment Account (a) City National Bank 4605 Lankershim Blvd. No. Hollywood, Ca. (b) BHS-072281 (7). Professional Account (a) City National Bank 4605 Lankershim Blvd. No. Hollywood, Ca. (b) 411953459 (8). Certificate of of Deposit (a) City National Bank 4605 Lankershim Blvd. No. Hollywood, Ca. (b) 411956334 (9). 5-Month Liquid Certificate of Deposit (a) City National Bank 4605 Lankershim Blvd. No. Hollywood, Ca. (b) 411955893 I. Other Monies on Hand: None I, Ellen Gordon, Estate Representative, declare under penalty of perjury that the information contained in the above Debtor in Possession Interim Settlement is true and complete to the best of my knowledge: Dated: March 26, 2001 Signed: /s/ Ellen Gordon - ------------------------------ ------------------------ -----END PRIVACY-ENHANCED MESSAGE-----