-----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, UVKsnmdJsXZ15xhC+/vvjlN/kecN249NFojo77LUYC/XfYU7FTId0bynAI+YPm6a OcX0hW9mMVYcoF2BmpdwOA== 0000898430-01-501589.txt : 20010806 0000898430-01-501589.hdr.sgml : 20010806 ACCESSION NUMBER: 0000898430-01-501589 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010630 ITEM INFORMATION: Bankruptcy or receivership FILED AS OF DATE: 20010803 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: 1934 Act SEC FILE NUMBER: 000-18102 FILM NUMBER: 1697570 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) June 30, 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 June 30, 2001, which was filed with the bankruptcy court on July 30, 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: July 31, 2001 By: /s/ Ellen Gordon ------------------------------------- Ellen Gordon Estate Representative 3 (2)(c) Exhibits EXHIBIT INDEX Exhibit Document Description - ------- -------------------- 99.15 Report to United States Bankruptcy Court for June 30, 2001. EX-99.15 3 dex9915.txt REPORT TO U.S. BANKRUPTCY COURT
EXHIBIT 99.15 - -------------------------------------------------------------------------------------------------------- OFFICE OF THE UNITED STATES TRUSTEE - -------------------------------------------------------------------------------------------------------- IN RE: ) DEBTOR IN POSSESSION OPERATING REPORT ) ------------------------------------- ) )REPORT NUMBER 15 Page 1 of 3 ) FOR THE PERIOD FROM: June 1, 2001 MATTHEWS STUDIO EQUIPMENT GROUP & SUBSIDIARIES) TO: June 30, 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 Expense ______________ Net Gain/(Loss) on Sale of Assets ______________ Total Non-Operating Income ------------- Expenses Not Related to Business Operation 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 June 30, 01 - ----------------------------------------------------------------------------------------- ($000's) REVENUES Sales - Rental revenues - ------ Total revenues - Cost of goods sold - Cost of rental operation - ------ Total cost of sales and rental - Gross profits - Selling expense - General & administration (65) ------ Total operating expenses (65) Operating profit 65 Depreciation & amortization - Coporate Interest allocation - DIP Interest - Other income & expenses - ------ Earnings before reorganization items & income tax provision 65 Reorganization items: Loss from sales of assets/Closing cost of facility 5,124 Professional fees - Provision for rejected executory contracts - Interest earned on accumulated cash resulting from chapter 11 Proceeding (29) ------ Total reorganization items 5,095 Income(loss) before income tax provision (5,030) Income tax (benefits) - ------ Net income (loss) (5,030) ======
- -------------------------------------------------------------------------------- DEBTOR IN POSSESSION OPERATING REPORT NO. 15 - -------------------------------------------------------------------------------- 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 $ 0 Overdue 31 - 60 days $0 $ 0 Overdue 61 - 90 days $0 $ 0 Overdue 91 - 120 days $0 $ 0 Overdue 121 + days $0 $1,013,328 ---------------------------------------------- Total $0 $1,013,328 ---------------------------------------------- 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 $0 *SEE NOTE ------------------------ Gross Sales for Period Subject to Sales Tax $0 ------------------------ ------------------------------------------------------------------------------ Post Petition Taxes Date Paid Amount Paid* Still Owing ------------------------------------------------------------------------------ Federal Payroll and Withholding Taxes $0 $0 State Payroll and Withholding Taxes $0 $0 State Sales and Use Tax $0 $0 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 10/1/01 10/1/01 Liability GULF INS CO SEE 10/1/01 10/1/01 Fire and Extended Coverage GULF INS CO ATTACHED 10/1/01 10/1/01 Property GULF INS CO (Not filed with Form 8K) 10/1/01 10/1/01 Theft CNA 10/1/01 10/1/01 Life (Beneficiary:________________) TRANSAMERICA Vehicle GULF INS CO 10/1/01 10/1/01 Other INSURANCE WEST 10/1/01 10/1/01 ------------------------------------------------------------------------------ *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 JUNE 30, 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. 15 - -------------------------------------------------------------------------------- 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):
Name of Type Post-Petition Professional Professional Unpaid Total** ---------------------------------------------------------------------------- Crossroads, LLC Turnaround management - Estimated George Nicolais Financial advisor 5,559 Estimated Klee Tuchin Bogdanoff & Stern Counsel 67,982 Estimated Latham Watkins Counsel - Stutman Treister Counsel 29,866 Estimated Imperial Capital, LLC Financial advisor - Holland & Knight Counsel 61,257 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 - -------------------------------------------------------------------------------------------------------------------------------- 6/30/00 $ 7,108,942.00 $24,500.00 7/31/00 $24,500.00 2408 9/30/00 $ 7,208,343.00 $21,500.00 10/24/00 $21,500.00 1395 12/31/00 $ 7,053,994.00 $21,000.00 1/26/01 $21,000.00 1543 3/31/01 $ 5,307,500.00 $18,250.00 4/27/01 $18,250.00 1643 6/30/01 $11,171,217.00 $16,250.00 7/26/01 $16,250.00 1710 - --------------------------------------------------------------------------------------------------------------------------------
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: July 27, 2001 Signed: /s/ Ellen Gordon PAGE 1 OFFICE OF THE UNITED STATES TRUSTEE CENTRAL DISTRICT OF CALIFORNIA
IN RE: ) DEBTOR IN POSSESSION INTERIM STATEMENT ) ) Matthews Studio Equipment Group ) STATEMENT NO. 15 ) FOR THE PERIOD FROM: 06/01/01 DEBTOR ) TO: 06/30/01 ) 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 $30,801,684.77 $24,297,784.89 $294,606.93 $0.00 $5,853,194.94 B. Less: Total Disbursements Per All Prior $30,801,684.77 $23,499,772.40 $294,606.93 $0.00 $5,847,276.54 Interim Statements ------------------------------------------------------------------- C. Beginning Balance $ 0.00 $ 798,012.49 $ 0.00 $0.00 $ 5,918.40 ------------------------------------------------------------------- D. Receipts During Current Period Per Attached Schedule (Not filed with Form 8K) $ 4,494,018.94 $ 547,457.74 $ 0.00 $0.00 - ------------------------------------------------------------------- E. Balance Available $ 4,494,018.94 $ 1,345,470.23 $ 0.00 $0.00 $ 5,918.40 ------------------------------------------------------------------- F. Less: Disbursements During Period Per Attached Schedule (Not filed with Form 8K) $ 4,494,018.94 $ 358,273.04 $ 0.00 $0.00 287.83 ------------------------------------------------------------------- G. Ending Balance $ 0.00 $ 987,197.19 $ 0.00 $0.00 $ 5,630.57 -------------------------------------------------------------------
Investment Professional CD 5-Month CD Account Account Account Account ---------------------------------------------------------- CASH ACTIVITY ANALYSIS A. Total Receipts Per All Prior Interim Statements $4,358,559.85 $3,085,544.19 $355,957.03 $14,287,188.95 B. Less: Total Disbursements Per All Prior $3,532,457.27 $3,085,544.19 $355,957.03 $ 4,726,668.06 Interim Statements ---------------------------------------------------------- C. Beginning Balance $ 826,102.58 $ 0.00 $ 0.00 $ 9,560,520.89 ---------------------------------------------------------- D. Receipts During Current Period Per Attached Schedule (Not filed with Form 8K) 90,623.47 122,856.78 - 28,777.05 ---------------------------------------------------------- E. Balance Available $ 916,726.05 $ 122,856.78 $ 0.00 $ 9,589,297.94 ---------------------------------------------------------- F. Less: Disbursements During Period Per Attached Schedule (Not filed with Form 8K) 442,642.78 122,856.78 - - ---------------------------------------------------------- G. Ending Balance $ 474,083.27 $ 0.00 $ 0.00 $ 9,589,297.94 ----------------------------------------------------------
H. ACCOUNT INFORMATION (1). General Account (5). Pre-Chapter Payroll Account (9). 5-Month Liquid Certificate (a) City National Bank 4605 Lankershim (a) Western Security Bank of Deposit Blvd. No. Hollywood, Ca. 4100 W. Alameda Ave., Burbank, Ca. (a) City National Bank (b) 411952738 (b) 001064088 4605 Lankershim Blvd. No Hollywood, Ca. (2). Concentration Account (6). Investment Account (b) 411955893 (a) City National Bank 4605 Lankershim (a) City National Bank 4605 Blvd. No. Hollywood, Ca. Lankershim Blvd. No. Hollywood, Ca. (b) 411952886 (b) BHS-072281 (3). Payroll Account (7). Professional Account (a) City National Bank 4605 Lankershim (a) City National Bank 4605 Blvd. No. Hollywood, Ca. Lankershim Blvd. No. Hollywood, Ca. (b) 411952800 (b) 411953459 (4). Tax Account (8). Certificate of Deposit (a) City National Bank 4605 Lankershim (a) City National Bank 4605 Blvd. No. Hollywood, Ca. Lankershim Blvd. No. Hollywood, Ca. (b) 411952851 (b) 411956334
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: July 27, 2001 Signed: /s/ Ellen Gordon ---------------- -----END PRIVACY-ENHANCED MESSAGE-----