-----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, Sqz6MhVzc1ZkAu48Xp3fcKL2pRGBNn2TY9fyE9XTBvjAKaoZe1tU3T2HmLBUZBxR r7C2dFk6ClQnhW7mRC7yRA== 0000898430-01-500364.txt : 20010504 0000898430-01-500364.hdr.sgml : 20010504 ACCESSION NUMBER: 0000898430-01-500364 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010331 ITEM INFORMATION: FILED AS OF DATE: 20010503 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: 1621069 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 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) March 31, 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 March 31, 2001, which was filed with the bankruptcy court on May 2, 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: May 3, 2001 By: /s/ Ellen Gordon ---------------------------- Ellen Gordon Estate Representative 3 (2)(c) Exhibits EXHIBIT INDEX Exhibit Document Description - ------- -------------------- 99.11 Report to United States Bankruptcy Court for March 31, 2001. EX-99.11 2 dex9911.txt REPORT TO UNITED STATES BANKRUPTCY COURT EXHIBIT 99.11
- ------------------------------------------------------------------------------------------------------------------------------ OFFICE OF THE UNITED STATES TRUSTEE - ------------------------------------------------------------------------------------------------------------------------------ IN RE: ) DEBTOR IN POSSESSION OPERATING REPORT ------------------------------------- ) MATTHEWS STUDIO EQUIPMENT GROUP & SUBSIDIARIES ) REPORT NUMBER 12 Page 1 of 3 ) FOR THE PERIOD FROM March 1, 2001 ) TO: March 31, 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 INCOME/(LOSS) FOR PERIOD - ==================== - ------------------------------------------------------------------------------------------------------------------------------ Revised April 1989 OPERATING REPORT UST-4 - ------------------------------------------------------------------------------------------------------------------------------
MATTHEWS STUDIO EQUIPMENT GROUP & SUBSIDIARIES Statement of Operations for the Period Mar. 31, 01 ================================================================================ ($000's)
REVENUES Sales 69 Rental revenues 755 -------- Total revenues 824 Cost of goods sold 34 Cost of rental operation 135 -------- Total cost of sales and rental 169 Gross profits 655 Selling expense - General & administration 101 -------- Total operating expenses 101 Operating profit 555 Depreciation & amortization 258 Coporate Interest allocation - DIP Interest - Other income & expenses - -------- Earnings before reorganization items & income tax provision 297 Reorganization items: Loss from sales of assets/Closing cost of facility - Professional fees 607 Provision for rejected executory contracts - Interest earned on accumulated cash resulting from chapter 11 Proceeding (3) -------- Total reorganization items 604 Income(loss) before income tax provision (307) Income tax (benefits) - -------- Net income (loss) (307) ========
- ------------------------------------------------------------------------------- DEBTOR IN POSSESSION OPERATING REPORT NO. 12 - ------------------------------------------------------------------------------- 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 $0 $458,714 Overdue 31 - 60 days $0 $2,397 Overdue 61 - 90 days $1,969 $14,311 Overdue 91 - 120 days $0 $0 Overdue 121 + days $124,082 $876,220 -------------------------------------------- Total $126,051 $1,351,642 --------------------------------------------
3. Statement of Status of Payments to Secured Creditors and Lessors: SEE ATTACHED - ----------------------------------------------------------------------------------------------------------------- Frequency of Post-Petition Payments per Amount of Payments Not Made ----------------------------- Creditor/Lessor Lease/Contract Each Payment Next Payment Due Number Amount - ----------------------------------------------------------------------------------------------------------------- - -----------------------------------------------------------------------------------------------------------------
4. Tax Liability: Gross Payroll Expense For Period $117,443 *SEE NOTE ---------------------- Gross Sales for Period Subject to Sales Tax $161,359 ----------------------
------------------------------------------------------------------------- Post Petition Taxes Date Paid Amount Paid * Still Owing ------------------------------------------------------------------------- Federal Payroll and Withholding Taxes 3/30/2001 $25,977 $1,461 State Payroll and Withholding Taxes 3/30/2001 $6,461 $403 State Sales and Use Tax 3/20/2001 $20,684 $6,858 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 10/1/2001 10/1/2001 Liability GULF INS CO SEE 10/1/2001 10/1/2001 Fire and Extended Coverage GULF INS CO ATTACHED 10/1/2001 10/1/2001 Property GULF INS CO (Not filed with Form 8K) 10/1/2001 10/1/2001 Theft CNA 10/1/2001 10/1/2001 Life (Beneficiary:________________) TRANSAMERICA Vehicle GULF INS CO 10/1/2001 10/1/2001 Other INSURANCE WEST 10/1/2001 10/1/2001 -------------------------------------------------------------------------
*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 MATTHEWS STUDIO EQUIPMENT GROUP & SUBSIDIARIES SECURED CREDITORS AND LESSORS MAR. 31, 2001 CREDIT FACILITY
MONTHLY UNPAID BINDER TAB DESCRIPTION COMPANY PAYMENT POST PETITION --------- ----- --------------------------------------------------- --------------- ------------------------------ 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 CRF98 11 30 Warren Place Corp (NY rent) Four Star 20,190 0 CRF98 11A 718 S. Fulton Ave (NY Storage) Four Star 6,875 0
DEBTOR IN POSSESSION OPERATING REPORT NO. 12 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 72,000 Estimated ----------------------------------------------------------------------- George Nicolais Financial advisor 4,543 Estimated ----------------------------------------------------------------------- Klee Tuchin Bogdanoff & Stern Counsel 53,854 Estimated ----------------------------------------------------------------------- Latham Watkins Counsel - ----------------------------------------------------------------------- Stutman Treister Counsel 27,955 Estimated ----------------------------------------------------------------------- Imperial Capital, LLC Financial advisor - ----------------------------------------------------------------------- Holland & Knight Counsel 44,179 Estimated ----------------------------------------------------------------------- Ernst & Young Independent Auditors - -----------------------------------------------------------------------
**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 Quarterly 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 1/26/2001 $21,000.00 1543 3/31/2001 $5,307,500.00 $18,250.00 4/27/2001 $18,250.00 1643 - ----------------------------------------------------------------------------------------------------------------------------
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: April 30, 2001 Signed: /s/ Ellen Gordon ----------------- - -------------------------------------------------------------------------------- OFFICE OF THE UNITED STATES TRUSTEE PAGE 1 CENTRAL DISTRICT OF CALIFORNIA
- -------------------------------------------------------------------------------- - ------------------------------------ IN RE: ) ) DEBTOR IN POSSESSION INTERIM STATEMENT Matthews Studio Equipment Group ) ) STATEMENT NO. 12 DEBTOR ) FOR THE PERIOD FROM: 03/01/01 ) TO: 03/31/01 ) - ------------------------------------ ----------------------------------------------------------------------------- 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 $28,274,996.91 $21,386,126.24 $294,606.93 $0.00 $5,817,817.22 B. Less: Total Disbursements Per All Prior Interim Statements $28,274,996.91 $20,174,280.74 $294,606.93 $0.00 $5,814,309.85 ----------------------------------------------------------------------------- C. Beginning Balance $ 0.00 $ 1,211,845.50 $ 0.00 $0.00 $ 3,507.37 ----------------------------------------------------------------------------- D. Receipts During Current Period Per Attached Schedule (Not filed with Form 8K) $ 1,021,017.77 $ 933,006.10 $ 0.00 $0.00 35,377.72 ----------------------------------------------------------------------------- E. Balance Available $ 1,021,017.77 $ 2,144,851.60 $ 0.00 $0.00 $ 38,885.09 ----------------------------------------------------------------------------- F. Less: Disbursement During Period Per Attached Schedule (Not filed with Form 8K) $ 1,021,017.77 $ 1,406,161.38 $ 0.00 $0.00 31,198.03 ----------------------------------------------------------------------------- G. Ending Balance $ 0.00 $ 738,690.22 $ 0.00 $0.00 $ 7,687.06 ----------------------------------------------------------------------------- ----------------------------------------------------------------------------- Investment Professional CD 5-Month CD Account Account Account Account ----------------------------------------------------------------------------- A. Total Receipts Per All Prior Interim Statements $3,612,448.38 $2,597,183.48 $355,765.54 $14,066,090.22 ----------------------------------------------------------------------------- B. Less: Total Disbursements Per All Prior Interim Statements $2,894,352.56 $2,597,183.48 $330,765.54 $ 0.00 ----------------------------------------------------------------------------- C. Beginning Balance $ 718,095.82 $ 0.00 $ 25,000.00 $14,066,090.22 ----------------------------------------------------------------------------- D. Receipts During Current Period Per Attached Schedule (Not filed with Form 8K) 264,220.76 199,688.27 - $ - ----------------------------------------------------------------------------- E. Balance Available $ 982,316.58 $ 199,688.27 $ 25,000.00 $14,066,090.22 ----------------------------------------------------------------------------- F. Less: Disbursement During Period Per Attached Schedule (Not filed with Form 8K) 199,688.27 199,688.27 $ - $ - ----------------------------------------------------------------------------- G. Ending Balance $ 782,628.31 $ 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) 4119052736 (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 Ave. 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 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 Statement is true and complete to the best of my knowledge: Dated: April 30, 2001 Signed: /s/ Ellen Gordon - --------------------- ------------------------ - -------------------------------------------------------------------------------- -----END PRIVACY-ENHANCED MESSAGE-----