0000898430-01-503230.txt : 20011107 0000898430-01-503230.hdr.sgml : 20011107 ACCESSION NUMBER: 0000898430-01-503230 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010930 ITEM INFORMATION: Bankruptcy or receivership FILED AS OF DATE: 20011102 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: 1773939 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) September 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 September 30, 2001, which was filed with the bankruptcy court on November 1, 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: November 2, 2001 By: /s/ Ellen Gordon ---------------------- Ellen Gordon Estate Representative 3 (2)(c) Exhibits EXHIBIT INDEX Exhibit Document Description ------- -------------------- 99.19 Report to United States Bankruptcy Court for September 30, 2001. EX-99.19 3 dex9919.txt REPORT TO U.S. BANKRUPTCY COURT FOR 9/30/2001
---------------------------------------------------------------------------------------------------------------------------- OFFICE OF THE UNITED STATES TRUSTEE ---------------------------------------------------------------------------------------------------------------------------- IN RE: ) DEBTOR IN POSSESSION OPERATING REPORT ) ------------------------------------- ) MATTHEWS STUDIO EQUIPMENT GROUP & SUBSIDIARIES) REPORT NUMBER 18 Page 1 of 3 ) FOR THE PERIOD FROM: September 1, 2001 ) TO: September 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 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 September 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 16 ----------------- Total operating expenses 16 Operating profit (16) Depreciation & amortization - Coporate Interest allocation - DIP Interest - Other income & expenses - ----------------- Earnings before reorganization items & income tax provision (16) Reorganization items: Loss from sales of assets/Closing cost of facility - Professional fees 74 Provision for rejected executory contracts - Interest earned on accumulated cash resulting from chapter 11 Proceeding (178) ----------------- Total reorganization items (104) Income(loss) before income tax provision 88 Income tax (benefits) - ----------------- Net income (loss) 88 =================
-------------------------------------------------------------------------------- DEBTOR IN POSSESSION OPERATING REPORT NO. 18 -------------------------------------------------------------------------------- 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: N/A
--------------------------------------------------------------------------------------------------------- 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 $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 -------------------------------------------------------------------------------- DEBTOR IN POSSESSION OPERATING REPORT NO. 18 -------------------------------------------------------------------------------- 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 - Estimated George Nicolais Financial advisor 6,007 Estimated Klee Tuchin Bogdanoff & Stern Counsel 13,343 Estimated Latham Watkins Counsel - Stutman Treister Counsel 7,083 Estimated Imperial Capital, LLC Financial advisor - Holland & Knight Counsel 3,809 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 9/30/01 $793,270.00 $6,500.00 10/23/01 $6,500.00 1767 ---------------------------------------------------------------------------------------------------------------------
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: October 31, 2001 Signed: 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. 18 ) FOR THE PERIOD FROM: 09/01/01 DEBTOR ) TO: 09/30/01 ------------------------------------------------) --------------------------------------------------------- CHAPTER 11 CASE NO. SV 00 13471 KL ) General Concentration Payroll ------------------------------------------------ Account Account Account --------------------------------------------------------- CASH ACTIVITY ANALYSIS --------------------------------------------------------- A. Total Receipts Per All Prior Interim Statements $ 36,102,698.85 $ 25,490,460.88 $ 294,606.93 B. Less: Total Disbursements Per All Prior $ 36,102,698.85 $ 24,716,770.50 $ 294,606.93 Interim Statements --------------------------------------------------------- C. Beginning Balance $ 0.00 $ 773,690.38 $ 0.00 --------------------------------------------------------- D. Receipts During Current Period Per Attached Schedule (Not Filed with Form 8K) $ 18,192,982.94 $ 18,250,773.40 $ 0.00 --------------------------------------------------------- E. Balance Available $ 18,192,982.94 $ 19,024,463.78 $ 0.00 --------------------------------------------------------- F. Less: Disbursements During Period Per Attached Schedule (Not Filed with Form 8K) $ 18,192,982.94 $ 142,237.36 $ 0.00 --------------------------------------------------------- G. Ending Balance $ 0.00 $ 18,882,226.42 $ 0.00 ---------------------------------------------------------
---------------------------------------------------------------------------------- Tax Pre-Chapter Investment Professional CD 5-Month CD Account Payroll Account Account Account Account ---------------------------------------------------------------------------------- A. Total Receipts Per All Prior Interim Statements $0.00 $ 5,853,490.72 $ 4,608,859.36 $ 3,482,234.85 $ 355,957.03 $ 14,315,966.00 B. Less: Total Disbursements Per All Prior $0.00 $ 5,847,583.77 $ 4,238,300.04 $ 3,482.234.85 $ 355,957.03 $ 4,726,668.06 Interim Statements ---------------------------------------------------------------------------------- C. Beginning Balance $0.00 $ 5,906.95 $ 370,559.32 $ 0.00 $ 0.00 $ 9,589,297.94 ---------------------------------------------------------------------------------- D. Receipts During Current Period Per Attached Schedule (Not Filed with Form 8K) $0.00 -- 55,846.77 74,186.39 -- 84,354.35 ---------------------------------------------------------------------------------- E. Balance Available $0.00 $ 5,906.95 $ 426,406.09 $ 74,186.39 $ 0.00 $ 9,673,652.29 ---------------------------------------------------------------------------------- F. Less: Disbursements During Period Per Attached Schedule (Not Filed with Form 8K) $0.00 -- 74,186.39 74,186.39 -- 9,673,652.29 ---------------------------------------------------------------------------------- G. Ending Balance $0.00 $ 5,906.95 $ 352,219.70 $ 0.00 $ 0.00 $ 0.00 ----------------------------------------------------------------------------------
H. ACCOUNT INFORMATION (1). General Account (5). Pre-Chapter Payroll Account (9). 5-Month Liquid Certificate of of Deposit (a) City National Bank 4605 (a) Western Security Bank 4100 W. (a) City National Bank 4605 Lankershim Lankershim Blvd. No. Alameda Ave.,Burbank, Ca. Blvd. No. Hollywood, Ca. Hollywood, Ca. (b) 411952738 (b) 001064088 (b) 411955893 (2). Concentration Account (6). Investment Account (a) City National Bank 4605 (a) City National Bank 4605 Lankershim Blvd. No. Lankershim Blvd. No. Hollywood, Ca. Hollywood, Ca. (b) 411952886 (b) BHS-072281 (3). Payroll Account (7). Professional Account (a) City National Bank 4605 (a) City National Bank 4605 Lankershim Blvd. No. Lankershim Blvd. No. Hollywood, Ca. Hollywood, Ca. (b) 411952800 (b) 411953459 (4). Tax Account (8). Certificate of of Deposit (a) City National Bank 4605 (a) City National Bank 4605 Lankershim Blvd. No. Lankershim Blvd. No. Hollywood, Ca. 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 knowlege: Dated: October 26, 2001 Signed: Ellen Gordon --------------------------------- ------------------------------ --------------------------------------------------------------------------------