-----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, HZcSkuECUvQai+RQjxrbEDeLRaJwZ+T1UUjfIuDMA0s2LwWb+PB9msj2/PlmFSpN MsS5WXteJVYqtn2z5bA9lA== /in/edgar/work/0001019687-00-001399/0001019687-00-001399.txt : 20001011 0001019687-00-001399.hdr.sgml : 20001011 ACCESSION NUMBER: 0001019687-00-001399 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 6 CONFORMED PERIOD OF REPORT: 20000311 ITEM INFORMATION: FILED AS OF DATE: 20001010 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PREMIER LASER SYSTEMS INC CENTRAL INDEX KEY: 0000878543 STANDARD INDUSTRIAL CLASSIFICATION: [3845 ] IRS NUMBER: 330476284 STATE OF INCORPORATION: CA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-14013 FILM NUMBER: 737604 BUSINESS ADDRESS: STREET 1: 3 MORGAN CITY: IRVINE STATE: CA ZIP: 92718 BUSINESS PHONE: 9498590656 MAIL ADDRESS: STREET 1: 3 MORGAN CITY: IRVINE STATE: CA ZIP: 92718 8-K 1 0001.txt PREMIER LASER SYSTEMS, INC. ================================================================================ 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 11, 2000 ----------------- PREMIER LASER SYSTEMS, INC. (Exact name of registrant as specified in its charter) California 0-25242 33-0476284 (State or other jurisdiction of (Commission File Number) (I.R.S. Employer incorporation) Identification No.) 3 Morgan, Irvine, CA 92718 (Address of principal executive offices) (Zip Code) -------------------- Registrant's telephone number, including area code: (949) 859-0656 N/A (Former name or former address, if changed since last report) ----------------- ITEM 5. OTHER EVENTS Attached hereto as Exhibits 99.1 through 99.5 and incorporated herein by reference are the debtor in possession interim financial statements filed by Premier Laser Systems, Inc. with the U.S. Bankruptcy Court for each of the five months ending March 31, 2000 through July 31, 2000. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibits. The following exhibits are filed as a part of this report: Exhibit No. Description - ----------- ----------- 99.1 Debtor in Possession Interim Statement For Period Ending March 31, 2000 with attachments 2, 3, and 5. 99.2 Debtor in Possession Interim Statement For Period Ending April 30, 2000 with attachments 2, 3, and 5. 99.3 Debtor in Possession Interim Statement For Period Ending May 31, 2000 with attachments 2, 3, and 5. 99.4 Debtor in Possession Interim Statement For Period Ending June 30, 2000 with attachments 2, 3, and 5. 99.5 Debtor in Possession Interim Statement For Period Ending July 31, 2000 with attachments 2, 3, and 5. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PREMIER LASER SYSTEMS, INC. By: /s/ Michael Quinn ----------------------------------- Michael Quinn Date: October 10, 2000 President and CEO INDEX OF EXHIBITS Exhibit No. Description - ----------- ----------- 99.1 Debtor in Possession Interim Statement For Period Ending March 31, 2000 with attachments 2, 3, and 5. 99.2 Debtor in Possession Interim Statement For Period Ending April 30, 2000 with attachments 2, 3, and 5. 99.3 Debtor in Possession Interim Statement For Period Ending May 31, 2000 with attachments 2, 3, and 5. 99.4 Debtor in Possession Interim Statement For Period Ending June 30, 2000 with attachments 2, 3, and 5. 99.5 Debtor in Possession Interim Statement For Period Ending July 31, 2000 with attachments 2, 3, and 5. EX-99.1 2 0002.txt PERIOD ENDING MARCH 31, 2000 Office of the United States Trustee - -------------------------------------------------------------------------------- In re: DEBTOR IN POSSESSION INTERIM STATEMENT -------------------------------------- PREMIER LASER SYSTEMS, INC. 3 Morgan Statement Number: 1 Irvine, CA 92618 ---------- Debtor. For the period FROM: 3/11/00 TO: 3/31/00 ___________________________________ Chapter 11 Case No.: SA00-12645RA - --------------------------------------------------------------------------------
General Payroll Tax CASH ACTIVITY ANALYSIS (CASH BASIS ONLY) Account Account Account ------------------ --------------- ----------------- A. Total Receipts per all Prior Interim Statements $-0- $-0- $-0- ------------------ --------------- ----------------- B. Less: Total Disbursements per all Prior Statements -0- -0- -0- ------------------ --------------- ----------------- C. Beginning Balance (A less B) -0- -0- -0- ------------------ --------------- ----------------- D. Receipts during Current Period 383,259.79 2,000.00 200.00 (ATTACH SEPARATE LISTING IF NECESSARY) Description ----------- SEE ATTACHMENT #1 TOTAL RECEIPTS THIS PERIOD: ------------------ --------------- ----------------- E. Balance Available (C plus D) 383,259.79 2,000.00 200.00 ------------------ --------------- ----------------- F. Less: Disbursements during Current Period 69,542.29 266.39 -0- (ATTACH SEPARATE LISTING IF NECESSARY) Date Check No. Payee/Purpose ---- --------- ------------- SEE ATTACHMENT #1 TOTAL DISBURSEMENTS THIS PERIOD: ------------------ --------------- ----------------- G. Ending Balance (E less F) $313,717.50 $1,733.61 $200.00 ------------------ --------------- -----------------
H. (1) General Account (a) Depository Name and Location: California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010 (b) Account Number: 3700011381 (2) Payroll Account: (a) Depository Name and Location: California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010 (b) Account Number: 3700011111 (3) Tax Account: (a) Depository Name and Location: California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010 (b) Account Number: 3700011031 I. Other monies on hand (SPECIFY TYPE AND LOCATION) (i.e. Certificates of Deposit, Petty Cash): Petty Cash $1500 - -------------------------------------------------------------------------------- I, (Name/Title: Robert Mahoney / CFO ), 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: 4/17/00 ---------------------------- /s/ Robert Mahoney -------------------------------- Debtor in Possession or Trustee 1 Office of the United States Trustee - -------------------------------------------------------------------------------- In re: DEBTOR IN POSSESSION INTERIM STATEMENT -------------------------------------- PREMIER LASER SYSTEMS, INC. 3 Morgan Statement Number: 1 Page 1 of 3 Irvine, CA 92618 ---- Debtor. For the period FROM: 3/11/00 TO: 3/31/00 ___________________________________ Chapter 11 Case No.: SA00-12645RA - -------------------------------------------------------------------------------- 1. Profit and Loss Statement (ACCRUAL BASIS ONLY) (SEE ATTACHMENT TWO) 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 Revenues (Specify) Less: Operating Expenses: Officer Compensation Salaries and Wages - Other Employees Total Salaries and Wages Employee Benefits and Pensions Payroll Taxes Real Estate Taxes Federal and State Income Taxes Total Sales Rent and Lease Exp. (Real Property and Personal Property) Interest Expense (Mortgage, Loan, etc.) Insurance Automobile Expense Utilities (Gas, Electricity, 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 Operation: Legal and Professional Fees (Specify) Other Non-Operating Expenses (Specify) Total Non-Operating Expenses NET INCOME / LOSS FOR PERIOD $ =============== 2 DEBTOR IN POSSESSION OPERATING REPORT NO.: 1 PAGE 3 OF 3 2. Aging of Accounts Payable and Accounts Receivable (exclude pre-petition accounts payable): (SEE ATTACHMENT #3, #4) Accounts Payable Accounts Receivable ----------------- ------------------- Current Under 30 Days $71,119.59 $199,867.87 ----------------- ------------------- Overdue 31-60 Days 384,652.22 ----------------- ------------------- Overdue 61-90 Days 366,518.12 ----------------- ------------------- Overdue 91-120 Days ----------------- ------------------- Overdue Over 121 Days 4,456,723.04 ----------------- ------------------- TOTAL $ $5,407,761.25 ----------------- ------------------- 3. Statement of Status of Payments to Secured Creditors and Lessors: (SEE ATTACHMENT # 5)
Frequency Post-Petition Payments of Payments per Amount Next Not Made* Contract / Lease of Each Payment Creditor/Lessor (i.e., mo., qtr.) Payment Due Number Amount - -------------------- ------------------- ------------- -------- --------------- --------------- $ $ - -------------------- ------------------- ------------- -------- --------------- --------------- - -------------------- ------------------- ------------- -------- --------------- --------------- - -------------------- ------------------- ------------- -------- --------------- ---------------
*Explanation for Non-Payment:___________________________________________________ ________________________________________________________________________________ 4. Tax Liability: Gross Payroll Expense for Period: $ 67,090.94 Gross Sales for Period Subject to Sales Tax $ 24,356.50
Post-Petition Taxes Still Date Paid* Amount Paid* Owing -------------------- ------------------- ------------- Federal Payroll and Withholding Taxes 3/10/00 $11,756.98 $-0- -------------------- ------------------- ------------- State Payroll and Withholding Taxes 3/10/00 2,789.45 -0- -------------------- ------------------- ------------- State Sales and Use Taxes NET PAID -0- 1,067.83 -------------------- ------------------- ------------- Real Property Taxes INCLUDED IN RENT ---------------------------------------- -------------
*Attach photocopies of depository receipts from taxing authorities or financial institutions to verity that such deposits or payments have been made (SEE ATTACHMENT #6) 5. Insurance Coverage: (SEE ATTACHMENT #7)
Carrier / Amount of Coverage Policy Premium Paid Agent Name Expiration Date Through Date ---------------------- --------------------- ------------------ ------------------ Worker's Compensation HIH/Glen Carlson $1M, $1M, $1M 6/1/00 4/30/00 ---------------------- --------------------- ------------------ ------------------ Liability Fed. Ins. Co. $4 M ea., $4M agg. 9/1/00 9/1/00 ---------------------------------------------------------------------------------- Fire and Extended Coverage Included in Property Add General Liability Insurance ---------------------- --------------------- ------------------ ------------------ Property & General Liability Fed. Ins. Co. 9/1/00 9/1/00 ---------------------- --------------------- ------------------ ------------------ Theft Fed. Ins. Co. $75K & $75K 9/1/00 9/1/00 ---------------------- --------------------- ------------------ ------------------ Life (Beneficiary: Employees) UNUM 1 x annual pay 11/1/00 4/30/00 ---------------------- --------------------- ------------------ ------------------ Vehicle (Hired) Fed. Ins. Co. $1M 9/1/00 9/1/00 ---------------------- --------------------- ------------------ ------------------ Other (Specify): ---------------------- --------------------- ------------------ ------------------ Marine Open Cargo Centennial $500K & $500K 9/1/00 Until Cancelled ---------------------- --------------------- ------------------ ------------------ Patent Infringement Defense AM Int'l. Specialty $2M ea., $2M agg 6/18/00 6/18/00 ---------------------- --------------------- ------------------ ------------------ D&O Rock River & Lloyd's London $10,000,000 12/10/00 12/10/00 ---------------------- --------------------- ------------------ ------------------
DEBTOR IN POSSESSION OPERATING REPORT NO.: 1 PAGE 3 OF 3 6. Questions: A. Has the Debtor in Possession provided compensation to any officers, directors, shareholder, 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 filing 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 Amounts ONLY)
State Type of Professional Total Post-Petition Name of Professional (Attorney / Accountant / etc.) Amount Paid ----------------------------------- ------------------------------ ---------------------------- Knobbe, Martins, Olson & Bear Attorney $5,837.22 ----------------------------------- ------------------------------ ---------------------------- O'Melveny & Myers Attorney 55,114.00 ----------------------------------- ------------------------------ ---------------------------- ----------------------------------- ------------------------------ ---------------------------- ----------------------------------- ------------------------------ ---------------------------- ----------------------------------- ------------------------------ ----------------------------
8. Narrative Report of Significant Events and Events out of the Ordinary Course of Business (ATTACH SEPARATE SHEET IF NECESSARY) ---------------------------------------------------------------------------- None ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- 9. Quarterly Fees: (This Fee must be paid to the United States Trustee every calendar quarter)
Quarterly Total Quarterly Fee Period Ending Disbursements Quarterly Fee Date Amount Still Owing for Quarter Paid Paid Check No. ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- 3/31/00 $69,888.68 $500.00 $ $500.00 ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- ---------------
I, (Name/Title: Robert Mahoney / CFO ), 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: 4/17/00 ------------------- /s/ Robert Mahoney ------------------------------- Debtor in Possession of Trustee -2- ATTACHMENT #2
1. Profit and Loss Statement (Accrual Basis Only) A. Related to Business Operations Gross Sales 73,705.50 Less: Sales Returns and Discounts - ---------------- Net Sales 73,705.50 Less: Cost of Goods Sold: Beginning Inventory at Cost Add: Purchases Less: Ending Inventory at Cost Cost of Goods Sold 74,512.95 (1) & (2) ---------------- Gross Profit (807.45) Other Operating Revenues - Less: Operating Expenses: Officer Compensation 45,961.54 Salaries and Wages-Other Employees 20,214.00 ---------------- Total Salaries and Wages 66,175.54 Outside Services 27,537.25 Board of Directors Fees 8,195.19 Employee Benefits and Pensions Payroll Taxes 2,122.65 Real Estate Taxes 1,033.94 Federal and State Income Taxes ---------------- Total Taxes 3,156.59 Rent and Lease Expense 23,009.10 Interest Expense Insurance 2,316.35 Automobile Expense Utilities 2,511.09 Depreciation 96,225.95 Repairs and Maintenance Advertising Supplies, Office Expense, Photocopies, etc. 474.73 Bad Debts Miscellaneous Operating Expenses: Legal 6,899.85 Travel 13.32 Entertainment 106.86 Securities expense 710.00 ADP fees 244.89 Other 381.94 Total Miscellaneous Operating Expenses 8,356.86 Total Operating Expenses 237,958.65 ---------------- Net Gain/Loss from Business Operations (238,766.10) ================ 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 Expense of Sale ---------------- Net Gain/Loss on Sale of Assets - ---------------- Total Non-Operating Income - ---------------- Expenses Not Related to Business Operations: Legal and Professional Fees 82,055.00 Other Non-Operating Expenses 830.00 ---------------- Total Non-Operating Expenses 82,885.00 ---------------- NET INCOME/LOSS FOR PERIOD (321,651.10) ================ (1)Includes $915.40 of non-officer compensation (2)Includes $4,563.90 of rent
ATTACHMENT # 3 Vendors Amount - --------------------------------------------------------------------------- O'Melveny & Myers 55,114.00 Knobbe Marten 5,837.22 Efrain Gonzales 840.00 Harvey Miller 351.31 Southern California Edison 1,863.28 Michael Quinn 4,674.34 United States Trustee 500.00 IRS 735.69 Franchise Tax Board 135.92 Tax Agencies 1,067.83 (1) - --------------------------------------------------------------------------- 71,119.59 (1) various sales tax agencies ATTACHMENT # 5 3. Statement of Status of Payments to Secured Creditors and Lessors:
Frequency Post Petition of Payments Amount Next Payments Not Made Creditor/ per Contract/ of Each Payment ----------------- Lessor Lease Payment Due Number Amount (1) - ------------------------------------------------------------------------------------------------ 1 The Irvine Company Monthly 38,241.00 1-Apr 2 Konica Monthly 217.58 11-Mar 1 147.39 3 Konica Monthly 328.31 11-Mar 1 222.40 4 Konica Monthly 388.42 27-Mar 1 263.12 5 Pitney Bowes Credit Corporation Quarterly 1,395.00 10-May 1 945.00 6 Steelcase Financial Services Monthly 381.94 15-Mar 1 258.73 7 Dell Monthly 965.83 19-Mar 1 654.27 8 Green Tree Monthly 778.23 20-Mar 1 527.19 9 IC Capital Monthly 483.78 22-Mar 1 327.72 10 Intelenet Monthly 474.00 15-Mar 1 321.10 - ------------------------------------------------------------------------------------------------ * Explanation for Non-Payment: Premier Laser Systems was deciding what leases to assume in bankruptcy.
(1) Prorata amount = monthly payment x 21 days/31 days plus one month payment EX-99.2 3 0003.txt PERIOD ENDING APRIL 30, 2000 Office of the United States Trustee - -------------------------------------------------------------------------------- In re: DEBTOR IN POSSESSION INTERIM STATEMENT -------------------------------------- PREMIER LASER SYSTEMS, INC. 3 Morgan Statement Number: 2 Irvine, CA 92618 ---------- Debtor. For the period FROM: 04/01/00 TO: 04/30/00 ___________________________________ Chapter 11 Case No.: SA00-12645RA - --------------------------------------------------------------------------------
General Payroll Tax CASH ACTIVITY ANALYSIS (CASH BASIS ONLY) Account Account Account ------------------ --------------- ----------------- A. Total Receipts per all Prior Interim Statements $383,259.21 $2,000.00 $ 200.00 ------------------ --------------- ----------------- B. Less: Total Disbursements per all Prior Statements 69,542.29 266.34 -0- ------------------ --------------- ----------------- C. Beginning Balance (A less B) 313,717.50 1,733.61 200.00 ------------------ --------------- ----------------- D. Receipts during Current Period 617,467.26 10,327.00 -0- (ATTACH SEPARATE LISTING IF NECESSARY) Description ----------- SEE ATTACHMENT #1 TOTAL RECEIPTS THIS PERIOD: ------------------ --------------- ----------------- E. Balance Available (C plus D) 931,184.76 12,060.61 200.00 ------------------ --------------- ----------------- F. Less: Disbursements during Current Period 101,443.82 19,740.85 -0- (ATTACH SEPARATE LISTING IF NECESSARY) Date Check No. Payee/Purpose ---- --------- ------------- SEE ATTACHMENT #1 TOTAL DISBURSEMENTS THIS PERIOD: ------------------ --------------- ----------------- G. Ending Balance (E less F) $826,710.94 $(7,680.24) $ 200.00 ------------------ --------------- -----------------
H. (1) General Account (a) Depository Name and Location: California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010 (b) Account Number: 3700011381 (2) Payroll Account: (a) Depository Name and Location: California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010 (b) Account Number: 3700011111 (3) Tax Account: (a) Depository Name and Location: California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010 (b) Account Number: 3700011031 I. Other monies on hand (SPECIFY TYPE AND LOCATION) (i.e. Certificates of Deposit, Petty Cash): Petty Cash $1500 - -------------------------------------------------------------------------------- I, (Name/Title: Robert Mahoney / CFO ), 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: 5/15/00 ---------------------------- /s/ Robert Mahoney -------------------------------- Debtor in Possession or Trustee 1 Office of the United States Trustee - -------------------------------------------------------------------------------- In re: DEBTOR IN POSSESSION INTERIM STATEMENT -------------------------------------- PREMIER LASER SYSTEMS, INC. 3 Morgan Statement Number: 2 Page 1 of 3 Irvine, CA 92618 ---- Debtor. For the period FROM: 04/01/00 TO: 04/30/00 ___________________________________ Chapter 11 Case No.: SA00-12645RA - -------------------------------------------------------------------------------- 1. Profit and Loss Statement (ACCRUAL BASIS ONLY) (SEE ATTACHMENT TWO) 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 Revenues (Specify) Less: Operating Expenses: Officer Compensation Salaries and Wages - Other Employees Total Salaries and Wages Employee Benefits and Pensions Payroll Taxes Real Estate Taxes Federal and State Income Taxes Total Sales Rent and Lease Exp. (Real Property and Personal Property) Interest Expense (Mortgage, Loan, etc.) Insurance Automobile Expense Utilities (Gas, Electricity, 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 Operation: Legal and Professional Fees (Specify) Other Non-Operating Expenses (Specify) Total Non-Operating Expenses NET INCOME / LOSS FOR PERIOD $ =============== 2 DEBTOR IN POSSESSION OPERATING REPORT NO.: 2 PAGE 3 OF 3 2. Aging of Accounts Payable and Accounts Receivable (exclude pre-petition accounts payable): (SEE ATTACHMENT #3, #4) Accounts Payable Accounts Receivable ----------------- ------------------- Current Under 30 Days $ 113,697.88 $ 27,561 ----------------- ------------------- Overdue 31-60 Days 71,951.22 118,843 ----------------- ------------------- Overdue 61-90 Days 345,600 ----------------- ------------------- Overdue 91-120 Days ----------------- ------------------- Overdue Over 121 Days 4,797,971 ----------------- ------------------- TOTAL $ $5,359,975 ----------------- ------------------- 3. Statement of Status of Payments to Secured Creditors and Lessors: (SEE ATTACHMENT # 5)
Frequency Post-Petition Payments of Payments per Amount Next Not Made* Contract / Lease of Each Payment Creditor/Lessor (i.e., mo., qtr.) Payment Due Number Amount - -------------------- ------------------- ------------- -------- --------------- --------------- $ $ - -------------------- ------------------- ------------- -------- --------------- --------------- - -------------------- ------------------- ------------- -------- --------------- --------------- - -------------------- ------------------- ------------- -------- --------------- ---------------
*Explanation for Non-Payment:___________________________________________________ ________________________________________________________________________________ 4. Tax Liability: Gross Payroll Expense for Period: $ Gross Sales for Period Subject to Sales Tax $
Post-Petition Taxes Still Date Paid* Amount Paid* Owing ------------------------- ------------------- ------------- Federal Payroll and Withholding Taxes 3/10/00, 4/20/00, 5/4/00 16,579.89 3,473.46 ------------------------- ------------------- ------------- State Payroll and Withholding Taxes 3/10/00, 4/20/00, 5/4/00 3,850.29 540.43 ------------------------- ------------------- ------------- State Sales and Use Taxes NET PAID -0- 1,883.21 ------------------------- ------------------- ------------- Real Property Taxes INCLUDED IN RENT --------------------------------------------- -------------
*Attach photocopies of depository receipts from taxing authorities or financial institutions to verity that such deposits or payments have been made (SEE ATTACHMENT #6) 5. Insurance Coverage: (SEE ATTACHMENT #7)
Carrier / Amount of Coverage Policy Premium Paid Agent Name Expiration Date Through Date ---------------------- --------------------- ------------------ ------------------ Worker's Compensation HIH/Glen Carlson $1M, $1M, $1M 6/1/00 4/30/00 ---------------------- --------------------- ------------------ ------------------ Liability Fed. Ins. Co. $4 M ea., $4M agg. 9/1/00 9/1/00 ---------------------------------------------------------------------------------- Fire and Extended Coverage Included in Property Add General Liability Insurance ---------------------- --------------------- ------------------ ------------------ Property & General Liability Fed. Ins. Co. 9/1/00 9/1/00 ---------------------- --------------------- ------------------ ------------------ Theft Fed. Ins. Co. $75K & $75K 9/1/00 9/1/00 ---------------------- --------------------- ------------------ ------------------ Life (Beneficiary: Employees) UNUM 1 x annual pay 11/1/00 4/30/00 ---------------------- --------------------- ------------------ ------------------ Vehicle (Hired) Fed. Ins. Co. $1M 9/1/00 9/1/00 ---------------------- --------------------- ------------------ ------------------ Other (Specify): ---------------------- --------------------- ------------------ ------------------ Marine Open Cargo Centennial $500K & $500K 9/1/00 Until Cancelled ---------------------- --------------------- ------------------ ------------------ Patent Infringement Defense AM Int'l. Specialty $2M ea., $2M agg 6/18/00 6/18/00 ---------------------- --------------------- ------------------ ------------------ D&O Rock River & Lloyd's London $10,000,000 12/10/00 12/10/00 ---------------------- --------------------- ------------------ ------------------
DEBTOR IN POSSESSION OPERATING REPORT NO.: 2 PAGE 3 OF 3 6. Questions: A. Has the Debtor in Possession provided compensation to any officers, directors, shareholder, 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 filing 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 Amounts ONLY)
State Type of Professional Total Post-Petition Name of Professional (Attorney / Accountant / etc.) Amount Paid ----------------------------------- ------------------------------ ---------------------------- Knobbe, Martins, Olson & Bear Attorney $ 5,837.22 ----------------------------------- ------------------------------ ---------------------------- O'Melveny & Myers Attorney 133,611.00 ----------------------------------- ------------------------------ ---------------------------- Winthrop Couchot Attorney 22,000.00 ----------------------------------- ------------------------------ ---------------------------- ----------------------------------- ------------------------------ ---------------------------- ----------------------------------- ------------------------------ ----------------------------
8. Narrative Report of Significant Events and Events out of the Ordinary Course of Business (ATTACH SEPARATE SHEET IF NECESSARY) ---------------------------------------------------------------------------- On April 7, 2000, the company received the second of three scheduled ---------------------------------------------------------------------------- payments (in the amount of $500,000.00) in connection with the sale of its ---------------------------------------------------------------------------- research project, Topomax, on March 8, 2000. ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- 9. Quarterly Fees: (This Fee must be paid to the United States Trustee every calendar quarter)
Quarterly Total Quarterly Fee Period Ending Disbursements Quarterly Fee Date Amount Still Owing for Quarter Paid Paid Check No. ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- 3/31/00 $69,808.68 $500.00 4/27/00 $ 500.00 10035, 10038 $ 0 ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- ---------------
I, (Name/Title: Robert Mahoney / CFO ), 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: 5/17/00 ------------------- /s/ Robert Mahoney ------------------------------- Debtor in Possession of Trustee -2- ATTACHMENT #2
1. Profit and Loss Statement (Accrual Basis Only) A. Related to Business Operations Gross Sales 63,544.70 Less: Sales Returns and Discounts 31,753.00 ---------------- Net Sales 31,791.70 Less: Cost of Goods Sold: Beginning Inventory at Cost Add: Purchases Less: Ending Inventory at Cost Cost of Goods Sold 99,875.51 ---------------- Gross Profit (68,083.81) Other Operating Revenues - Less: Operating Expenses: Officer Compensation 60,499.99 Salaries and Wages-Other Employees 24,224.44 ---------------- Total Salaries and Wages 84,724.43 Outside Services 45,635.00 Board of Directors Fees 4,000.00 Employee Benefits and Pensions Payroll Taxes 637.04 Real Estate Taxes Federal and State Income Taxes ---------------- Total Taxes 637.04 Rent and Lease Expense 22,421.73 Interest Expense Insurance - Automobile Expense Utilities - Depreciation 130,143.51 Repairs and Maintenance Advertising Supplies, Office Expense, Photocopies, etc. Bad Debts Miscellaneous Operating Expenses: Legal 183.40 Travel 5,600.07 Entertainment Securities expense 1,250.00 ADP fees Other 1,506.97 ---------------- Total Miscellaneous Operating Expenses 8,540.44 ---------------- Total Operating Expenses 296,102.15 ---------------- Net Gain/Loss from Business Operations (364,185.96) ================ 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 Expense of Sale ---------------- Net Gain/Loss on Sale of Assets - ---------------- Total Non-Operating Income - ---------------- Expenses Not Related to Business Operations: Legal and Professional Fees 100,497.00 Other Non-Operating Expenses ---------------- Total Non-Operating Expenses 100,497.00 ---------------- NET INCOME/LOSS FOR PERIOD (464,682.96) ================
ATTACHMENT # 3 Vendors Amount - --------------------------------------------------------------------------- O'Melveny & Myers 133,611.00 Knobbe Marten Olson & Bear 5,837.22 Winthrop & Couchot 22,000.00 Tax Agencies 1,883.21 Chung Hwan Hahm 4,880.00 Konica Bus Technologies 417.17 Konica Processing Center 545.89 Olga Bracamontes-Independent 195.50 Tommy Nguyen 144.00 Irvine Ranch Water District 279.39 Pacific Bell 1,118.95 So. Ca. Gas Company 491.22 So. Cal. Edison 3,762.77 AT & T 1,066.36 American Stock Transfer 2,096.75 Employers Group 292.50 Arrowhead Mt. Water 41.91 Qwest-Long Distance Telephone 3,595.27 PublicEase 360.00 United Building Services 2,032.05 Steelcase Financial 381.94 Thu Thuy Nguyen-Independ. Ctr. 616.00 - --------------------------------------------------------------------------- Total 185,649.10 (1) Various sales tax agencies ATTACHMENT # 5 3. Statement of Status of Payments to Secured Creditors and Lessors:
Frequency Post Petition of Payments Amount Next Payments Not Made Creditor/ per Contract/ of Each Payment ----------------- Lessor Lease Payment Due Number Amount (1) - ------------------------------------------------------------------------------------------------ 1 The Irvine Company Monthly 38,241.00 1-May 2 Konica Monthly 217.58 11-May 3 Konica Monthly 328.31 11-May 4 Konica Monthly 388.42 27-May 5 Pitney Bowes Credit Corporation Quarterly 1,395.00 10-May 1 1,395.00 6 Steelcase Financial Services Monthly 381.94 15-May 7 Dell Monthly 965.83 19-Mar 2 1,620.10 8 Green Tree Monthly 778.23 20-Mar 2 1,305.42 9 IC Capital Monthly 483.78 22-Mar 2 811.50 10 Intelenet Monthly 474.00 15-Mar 2 795.10 - -------------------------------------------------------------------------------------------------- * Explanation for Non-Payment: Premier Laser Systems was deciding what leases to assume in bankruptcy.
(1) Prorata amount = monthly payment x 21 days/31 days plus one month payment EX-99.3 4 0004.txt PERIOD ENDING MAY 31, 2000 Office of the United States Trustee - -------------------------------------------------------------------------------- In re: DEBTOR IN POSSESSION INTERIM STATEMENT -------------------------------------- PREMIER LASER SYSTEMS, INC. 3 Morgan Statement Number: 3 Irvine, CA 92618 ---------- Debtor. For the period FROM: 05/01/00 TO: 05/31/00 ___________________________________ Chapter 11 Case No.: SA00-12645RA - --------------------------------------------------------------------------------
General Payroll Tax CASH ACTIVITY ANALYSIS (CASH BASIS ONLY) Account Account Account ------------------ --------------- ----------------- A. Total Receipts per all Prior Interim Statements $ 1,000,727.05 $ 12,327.00 $ 200.00 ------------------ --------------- ----------------- B. Less: Total Disbursements per all Prior Statements 173,986.11 20,007.24 -0- ------------------ --------------- ----------------- C. Beginning Balance (A less B) 826,740.94 (7,680.24) 200.00 ------------------ --------------- ----------------- D. Receipts during Current Period 815,824.83 33,206.00 -0- (ATTACH SEPARATE LISTING IF NECESSARY) Description ----------- SEE ATTACHMENT #1 TOTAL RECEIPTS THIS PERIOD: ------------------ --------------- ----------------- E. Balance Available (C plus D) 1,642,565.77 25,519.76 200.00 ------------------ --------------- ----------------- F. Less: Disbursements during Current Period 244,858.41 21,224.07 -0- (ATTACH SEPARATE LISTING IF NECESSARY) Date Check No. Payee/Purpose ---- --------- ------------- SEE ATTACHMENT #1 TOTAL DISBURSEMENTS THIS PERIOD: ------------------ --------------- ----------------- G. Ending Balance (E less F) $ 1,397,707.36 $ 4,295.69 $ 200.00 ------------------ --------------- -----------------
H. (1) General Account (a) Depository Name and Location: California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010 (b) Account Number: 3700011381 (2) Payroll Account: (a) Depository Name and Location: California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010 (b) Account Number: 3700011111 (3) Tax Account: (a) Depository Name and Location: California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010 (b) Account Number: 3700011031 I. Other monies on hand (SPECIFY TYPE AND LOCATION) (i.e. Certificates of Deposit, Petty Cash): Petty Cash $1500 - -------------------------------------------------------------------------------- I, (Name/Title: Robert Mahoney / CFO ), 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: 6/14/00 ---------------------------- /s/ Robert Mahoney -------------------------------- Debtor in Possession or Trustee 1 Office of the United States Trustee - -------------------------------------------------------------------------------- In re: DEBTOR IN POSSESSION INTERIM STATEMENT -------------------------------------- PREMIER LASER SYSTEMS, INC. 3 Morgan Statement Number: 3 Page 1 of 3 Irvine, CA 92618 ---- Debtor. For the period FROM: 05/01/00 TO: 05/31/00 ___________________________________ Chapter 11 Case No.: SA00-12645RA - -------------------------------------------------------------------------------- 1. Profit and Loss Statement (ACCRUAL BASIS ONLY) (SEE ATTACHMENT TWO) 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 Revenues (Specify) Less: Operating Expenses: Officer Compensation Salaries and Wages - Other Employees Total Salaries and Wages Employee Benefits and Pensions Payroll Taxes Real Estate Taxes Federal and State Income Taxes Total Sales Rent and Lease Exp. (Real Property and Personal Property) Interest Expense (Mortgage, Loan, etc.) Insurance Automobile Expense Utilities (Gas, Electricity, 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 Operation: Legal and Professional Fees (Specify) Other Non-Operating Expenses (Specify) Total Non-Operating Expenses NET INCOME / LOSS FOR PERIOD $ =============== 2 DEBTOR IN POSSESSION OPERATING REPORT NO.: 3 PAGE 3 OF 3 2. Aging of Accounts Payable and Accounts Receivable (exclude pre-petition accounts payable): (SEE ATTACHMENT #3, #4) Accounts Payable Accounts Receivable ----------------- ------------------- Current Under 30 Days $ 175,269.88 $ 35,872 ----------------- ------------------- Overdue 31-60 Days 161,448.22 29,956 ----------------- ------------------- Overdue 61-90 Days 173,771 ----------------- ------------------- Overdue 91-120 Days ----------------- ------------------- Overdue Over 121 Days 5,148,145 ----------------- ------------------- TOTAL $ 336,718.10 $5,311,000 ----------------- ------------------- 3. Statement of Status of Payments to Secured Creditors and Lessors: (SEE ATTACHMENT # 5)
Frequency Post-Petition Payments of Payments per Amount Next Not Made* Contract / Lease of Each Payment Creditor/Lessor (i.e., mo., qtr.) Payment Due Number Amount - -------------------- ------------------- ------------- -------- --------------- --------------- $ $ - -------------------- ------------------- ------------- -------- --------------- --------------- - -------------------- ------------------- ------------- -------- --------------- --------------- - -------------------- ------------------- ------------- -------- --------------- ---------------
*Explanation for Non-Payment:___________________________________________________ ________________________________________________________________________________ 4. Tax Liability: Gross Payroll Expense for Period: $ 68,029.25 Gross Sales for Period Subject to Sales Tax $ 4,482.37
Post-Petition Taxes Still Date Paid* Amount Paid* Owing ------------------------- ------------------- ------------- Federal Payroll and Withholding Taxes ------------------------- ------------------- ------------- State Payroll and Withholding Taxes ------------------------- ------------------- ------------- State Sales and Use Taxes NET PAID ------------------------- ------------------- ------------- Real Property Taxes INCLUDED IN RENT --------------------------------------------- -------------
*Attach photocopies of depository receipts from taxing authorities or financial institutions to verity that such deposits or payments have been made (SEE ATTACHMENT #6) 5. Insurance Coverage: (SEE ATTACHMENT #7)
Carrier / Amount of Coverage Policy Premium Paid Agent Name Expiration Date Through Date ---------------------- --------------------- ------------------ ------------------ Worker's Compensation HIH/Glen Carlson $1M, $1M, $1M 6/1/00 4/30/00 ---------------------- --------------------- ------------------ ------------------ Liability Fed. Ins. Co. $4 M ea., $4M agg. 9/1/00 9/1/00 ---------------------------------------------------------------------------------- Fire and Extended Coverage Included in Property Add General Liability Insurance ---------------------- --------------------- ------------------ ------------------ Property & General Liability Fed. Ins. Co. 9/1/00 9/1/00 ---------------------- --------------------- ------------------ ------------------ Theft Fed. Ins. Co. $75K & $75K 9/1/00 9/1/00 ---------------------- --------------------- ------------------ ------------------ Life (Beneficiary: Employees) UNUM 1 x annual pay 11/1/00 4/30/00 ---------------------- --------------------- ------------------ ------------------ Vehicle (Hired) Fed. Ins. Co. $1M 9/1/00 9/1/00 ---------------------- --------------------- ------------------ ------------------ Other (Specify): ---------------------- --------------------- ------------------ ------------------ Marine Open Cargo Centennial $500K & $500K 9/1/00 Until Cancelled ---------------------- --------------------- ------------------ ------------------ Patent Infringement Defense AM Int'l. Specialty $2M ea., $2M agg 6/18/00 6/18/00 ---------------------- --------------------- ------------------ ------------------ D&O Rock River & Lloyd's London $10,000,000 12/10/00 12/10/00 ---------------------- --------------------- ------------------ ------------------
DEBTOR IN POSSESSION OPERATING REPORT NO.: 3 PAGE 3 OF 3 6. Questions: A. Has the Debtor in Possession provided compensation to any officers, directors, shareholder, 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 filing 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 Amounts ONLY)
State Type of Professional Total Post-Petition Name of Professional (Attorney / Accountant / etc.) Amount Paid ----------------------------------- ------------------------------ ---------------------------- Knobbe, Martins, Olson & Bear Attorney $ 17,615.52 ----------------------------------- ------------------------------ ---------------------------- O'Melveny & Myers Attorney 215,611.00 ----------------------------------- ------------------------------ ---------------------------- Winthrop Couchot Attorney 48,000.00 ----------------------------------- ------------------------------ ---------------------------- ----------------------------------- ------------------------------ ---------------------------- ----------------------------------- ------------------------------ ----------------------------
8. Narrative Report of Significant Events and Events out of the Ordinary Course of Business (ATTACH SEPARATE SHEET IF NECESSARY) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- 9. Quarterly Fees: (This Fee must be paid to the United States Trustee every calendar quarter)
Quarterly Total Quarterly Fee Period Ending Disbursements Quarterly Fee Date Amount Still Owing for Quarter Paid Paid Check No. ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- 3/31/00 $69,808.68 $500.00 4/27/00 $ 500.00 10035, 10038 $ 0 ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- ---------------
I, (Name/Title: Robert Mahoney / CFO ), 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: 6/14/00 ------------------- /s/ Robert Mahoney ------------------------------- Debtor in Possession of Trustee -2- ATTACHMENT #2 1. Profit and Loss Statement (Accrual Basis Only) A. Related to Business Operations Gross Sales 30,526.65 Less: Sales Returns and Discounts 6,300.00 ---------------- Net Sales 24,226.66 Less: Cost of Goods Sold: Beginning Inventory at Cost Add: Purchases Less: Ending Inventory at Cost Cost of Goods Sold 122,849.55 ---------------- Gross Profit (98,622.89) Other Operating Revenues - Less: Operating Expenses: Officer Compensation 43,769.09 Salaries and Wages-Other Employees 15,518.77 ---------------- Total Salaries and Wages 59,287.86 Outside Services 32,758.75 Board of Directors Fees 4,000.00 Employee Benefits and Pensions 688.68 Payroll Taxes 2,752.08 Real Estate Taxes Federal and State Income Taxes ---------------- Total Taxes 2,752.08 Rent and Lease Expense 22,179.78 Interest Expense Insurance - Automobile Expense 500.00 Utilities 134.95 Depreciation 130,143.51 Repairs and Maintenance Hiring expense 55,003.18 Vacation expense 1,038.48 Advertising Supplies, Office Expense, Photocopies, etc. 1,184.66 Bad Debts Miscellaneous Operating Expenses: Legal 14,678.30 Travel 22.76 Entertainment 147.48 Securities expense 2,500.00 ADP fees Other 3,192.50 ---------------- Total Miscellaneous Operating Expenses 20,541.04 ---------------- Total Operating Expenses 330,212.97 ---------------- Net Gain/Loss from Business Operations (428,835.86) ================ 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 Expense of Sale ---------------- Net Gain/Loss on Sale of Assets - ---------------- Total Non-Operating Income - ---------------- Expenses Not Related to Business Operations: Legal and Professional Fees 109,000.00 Other Non-Operating Expenses ---------------- Total Non-Operating Expenses 109,000.00 ---------------- NET INCOME/LOSS FOR PERIOD (537,835.86) ================ ATTACHMENT # 3 Attachment #3 Vendors Amount - ----------------------------------------------------------------------- Southern Cal Edison 4,294.77 Efrain Gonzalez-Independ. Ctr. 1,120.00 Judy McCall 62.00 Employers Group 200.00 Olga Bracamontes-Independ. Ctr. 357.00 Jill Nester-Independ. Ctr. 379.25 Eric Sepulveda-Independ. Ctr. 540.00 Qwest 2,239.17 United Building Services 600.00 Afco 12,148.43 Quang Gia Nguyen-Independ. Ctr. 270.00 Jill Nester-Independ. Ctr. 249.75 John Hunkeler 3,000.00 Lewis Stanton 4,000.00 Fredric J. Feldman 4,000.00 L Derrick Ashcroft 4,000.00 Magnum Marketing 12,550.10 Pacific Bell 2,375.01 Irvine Ranch Water 36.43 Irvine Ranch Water 64.78 Konica 1,121.43 O'Melveny & Myers 215,611.00 Knobbe Marten Olson & Bear 17,615.52 Winthrop & Couchot 49,000.00 John Kling-Independ. Ctr. 883.46 - ----------------------------------------------------------------------- Total 336,718.10 ATTACHMENT # 5 3. Statement of Status of Payments to Secured Creditors and Lessors:
Frequency Post Petition of Payments Amount Next Payments Not Made Creditor/ per Contract/ of Each Payment ----------------- Lessor Lease Payment Due Number Amount (1) - ------------------------------------------------------------------------------------------------ 1 The Irvine Company Monthly 38,241.00 1-Jun 2 Konica Monthly 217.58 11-Jun 3 Konica Monthly 328.31 11-Jun 4 Konica Monthly 388.42 27-Jun 5 Pitney Bowes Credit Corporation Quarterly 1,395.00 10-May 1 1,395.00 6 Steelcase Financial Services Monthly 381.94 15-May 7 Dell Monthly 965.83 19-Mar 3 2,585.93 8 Green Tree Monthly 778.23 20-Mar 3 2,083.65 9 IC Capital Monthly 483.78 22-Mar 3 1,295.28 10 Intelenet Monthly 474.00 15-Jun - -------------------------------------------------------------------------------------------------- * Explanation for Non-Payment: Premier Laser Systems negotiating with vendor
EX-99.4 5 0005.txt PERIOD ENDING JUNE 30, 2000 Office of the United States Trustee - -------------------------------------------------------------------------------- In re: DEBTOR IN POSSESSION INTERIM STATEMENT -------------------------------------- PREMIER LASER SYSTEMS, INC. 3 Morgan Statement Number: 4 Irvine, CA 92618 ---------- Debtor. For the period FROM: 06/01/00 TO: 06/30/00 ___________________________________ Chapter 11 Case No.: SA00-12645RA - --------------------------------------------------------------------------------
General Payroll Tax CASH ACTIVITY ANALYSIS (CASH BASIS ONLY) Account Account Account ------------------ --------------- ----------------- A. Total Receipts per all Prior Interim Statements $ 1,816,551.88 $ 45,527.00 $ 200.00 ------------------ --------------- ----------------- B. Less: Total Disbursements per all Prior Statements 418,844.52 41,231.31 -0- ------------------ --------------- ----------------- C. Beginning Balance (A less B) 1,397,707.36 4,295.69 200.00 ------------------ --------------- ----------------- D. Receipts during Current Period 47,933.51 83,800.00 -0- (ATTACH SEPARATE LISTING IF NECESSARY) Description ----------- SEE ATTACHMENT #1 TOTAL RECEIPTS THIS PERIOD: ------------------ --------------- ----------------- E. Balance Available (C plus D) 1,445,640.87 88,095.69 200.00 ------------------ --------------- ----------------- F. Less: Disbursements during Current Period 318,509.96 81,527.70 -0- (ATTACH SEPARATE LISTING IF NECESSARY) Date Check No. Payee/Purpose ---- --------- ------------- SEE ATTACHMENT #1 TOTAL DISBURSEMENTS THIS PERIOD: ------------------ --------------- ----------------- G. Ending Balance (E less F) $ 1,127,130.91 $ 6,567.99 $ 200.00 ------------------ --------------- -----------------
H. (1) General Account (a) Depository Name and Location: California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010 (b) Account Number: 3700011381 (2) Payroll Account: (a) Depository Name and Location: California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010 (b) Account Number: 3700011111 (3) Tax Account: (a) Depository Name and Location: California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010 (b) Account Number: 3700011031 I. Other monies on hand (SPECIFY TYPE AND LOCATION) (i.e. Certificates of Deposit, Petty Cash): Petty Cash $1500 - -------------------------------------------------------------------------------- I, (Name/Title: Robert Mahoney / CFO ), 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: 7/14/00 ---------------------------- /s/ Robert Mahoney -------------------------------- Debtor in Possession or Trustee 1 Office of the United States Trustee - -------------------------------------------------------------------------------- In re: DEBTOR IN POSSESSION INTERIM STATEMENT -------------------------------------- PREMIER LASER SYSTEMS, INC. 3 Morgan Statement Number: 4 Page 1 of 3 Irvine, CA 92618 ---- Debtor. For the period FROM: 06/01/00 TO: 06/30/00 ___________________________________ Chapter 11 Case No.: SA00-12645RA - -------------------------------------------------------------------------------- 1. Profit and Loss Statement (ACCRUAL BASIS ONLY) (SEE ATTACHMENT TWO) 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 Revenues (Specify) Less: Operating Expenses: Officer Compensation Salaries and Wages - Other Employees Total Salaries and Wages Employee Benefits and Pensions Payroll Taxes Real Estate Taxes Federal and State Income Taxes Total Sales Rent and Lease Exp. (Real Property and Personal Property) Interest Expense (Mortgage, Loan, etc.) Insurance Automobile Expense Utilities (Gas, Electricity, 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 Operation: Legal and Professional Fees (Specify) Other Non-Operating Expenses (Specify) Total Non-Operating Expenses NET INCOME / LOSS FOR PERIOD $ =============== 2 DEBTOR IN POSSESSION OPERATING REPORT NO.: 4 PAGE 3 OF 3 2. Aging of Accounts Payable and Accounts Receivable (exclude pre-petition accounts payable): (SEE ATTACHMENT #3, #4) Accounts Payable Accounts Receivable ----------------- ------------------- Current Under 30 Days $ 123,185.10 $ (345) ----------------- ------------------- Overdue 31-60 Days 120,778.30 (36,792) ----------------- ------------------- Overdue 61-90 Days 161,448.22 29,956 ----------------- ------------------- Overdue 91-120 Days ----------------- ------------------- Overdue Over 121 Days 5,319,147 ----------------- ------------------- TOTAL $ 405,411.62 $5,311,966 ----------------- ------------------- 3. Statement of Status of Payments to Secured Creditors and Lessors: (SEE ATTACHMENT # 5)
Frequency Post-Petition Payments of Payments per Amount Next Not Made* Contract / Lease of Each Payment Creditor/Lessor (i.e., mo., qtr.) Payment Due Number Amount - -------------------- ------------------- ------------- -------- --------------- --------------- $ $ - -------------------- ------------------- ------------- -------- --------------- --------------- - -------------------- ------------------- ------------- -------- --------------- --------------- - -------------------- ------------------- ------------- -------- --------------- ---------------
*Explanation for Non-Payment:___________________________________________________ ________________________________________________________________________________ 4. Tax Liability: Gross Payroll Expense for Period: $ 71,783.68 Gross Sales for Period Subject to Sales Tax $ 13,246.78
Post-Petition Taxes Still Date Paid* Amount Paid* Owing ------------------------- ------------------- ------------- Federal Payroll and Withholding Taxes 6/21/00, 7/7/00 $ 10,975.65 $ 10,625.67 ------------------------- ------------------- ------------- State Payroll and Withholding Taxes 6/21/00, 7/7/00 2,366.89 2,310.74 ------------------------- ------------------- ------------- State Sales and Use Taxes NET PAID -2- $ 3,261.71 ------------------------- ------------------- ------------- Real Property Taxes INCLUDED IN RENT --------------------------------------------- -------------
*Attach photocopies of depository receipts from taxing authorities or financial institutions to verity that such deposits or payments have been made (SEE ATTACHMENT #6) 5. Insurance Coverage: (SEE ATTACHMENT #7)
Carrier / Amount of Coverage Policy Premium Paid Agent Name Expiration Date Through Date ---------------------- --------------------- ------------------ ------------------ Worker's Compensation HIH/Glen Carlson $1M, $1M, $1M 6/1/00 4/30/00 ---------------------- --------------------- ------------------ ------------------ Liability Fed. Ins. Co. $4 M ea., $4M agg. 9/1/00 9/1/00 ---------------------------------------------------------------------------------- Fire and Extended Coverage Included in Property Add General Liability Insurance ---------------------- --------------------- ------------------ ------------------ Property & General Liability Fed. Ins. Co. 9/1/00 9/1/00 ---------------------- --------------------- ------------------ ------------------ Theft Fed. Ins. Co. $75K & $75K 9/1/00 9/1/00 ---------------------- --------------------- ------------------ ------------------ Life (Beneficiary: Employees) UNUM 1 x annual pay 11/1/00 4/30/00 ---------------------- --------------------- ------------------ ------------------ Vehicle (Hired) Fed. Ins. Co. $1M 9/1/00 9/1/00 ---------------------- --------------------- ------------------ ------------------ Other (Specify): ---------------------- --------------------- ------------------ ------------------ Marine Open Cargo Centennial $500K & $500K 9/1/00 Until Cancelled ---------------------- --------------------- ------------------ ------------------ Patent Infringement Defense AM Int'l. Specialty $2M ea., $2M agg 6/18/00 6/18/00 ---------------------- --------------------- ------------------ ------------------ D&O Rock River & Lloyd's London $10,000,000 12/10/00 12/10/00 ---------------------- --------------------- ------------------ ------------------
DEBTOR IN POSSESSION OPERATING REPORT NO.: 4 PAGE 3 OF 3 6. Questions: A. Has the Debtor in Possession provided compensation to any officers, directors, shareholder, 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 filing 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 Amounts ONLY)
State Type of Professional Total Post-Petition Name of Professional (Attorney / Accountant / etc.) Amount Paid ----------------------------------- ------------------------------ ---------------------------- Knobbe, Martins, Olson & Bear Attorney $ 27,068.34 ----------------------------------- ------------------------------ ---------------------------- O'Melveny & Myers Attorney 304,611.00 ----------------------------------- ------------------------------ ---------------------------- Winthrop Couchot Attorney 60,000.00 ----------------------------------- ------------------------------ ---------------------------- ----------------------------------- ------------------------------ ---------------------------- ----------------------------------- ------------------------------ ----------------------------
8. Narrative Report of Significant Events and Events out of the Ordinary Course of Business (ATTACH SEPARATE SHEET IF NECESSARY) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- 9. Quarterly Fees: (This Fee must be paid to the United States Trustee every calendar quarter)
Quarterly Total Quarterly Fee Period Ending Disbursements Quarterly Fee Date Amount Still Owing for Quarter Paid Paid Check No. ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- 3/31/00 $ 69,828.69 $ 500.00 4/27/00 $ 500.00 10035, 10038 $ -0- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- 6/30/00 790,304.81 3,750.00 3,750.00 ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- ---------------
I, (Name/Title: Robert Mahoney / CFO ), 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: 7/14/00 ------------------- /s/ Robert Mahoney ------------------------------- Debtor in Possession of Trustee -2- ATTACHMENT #2 1. Profit and Loss Statement (Accrual Basis Only) A. Related to Business Operations Gross Sales 37,500.15 Less: Sales Returns and Discounts - ---------------- Net Sales 37,500.15 Less: Cost of Goods Sold: Beginning Inventory at Cost Add: Purchases Less: Ending Inventory at Cost Cost of Goods Sold 145,986.15 ---------------- Gross Profit (108,486.00) Other Operating Revenues - Less: Operating Expenses: Officer Compensation 46,000.00 Salaries and Wages-Other Employees 12,978.08 ---------------- Total Salaries and Wages 58,978.08 Outside Services 38,931.55 Board of Directors Fees 19,000.00 Employee Benefits and Pensions Payroll Taxes 2,911.10 Real Estate Taxes Federal and State Income Taxes ---------------- Total Taxes 2,911.10 Rent and Lease Expense 22,396.86 Interest Expense Insurance - Automobile Expense 1,000.00 Utilities 133.65 Depreciation 130,143.51 Repairs and Maintenance Hiring expense 4,660.00 Vacation expense 3,304.92 Advertising Supplies, Office Expense, Photocopies, etc. Bad Debts Miscellaneous Operating Expenses: Legal 9,452.82 Travel 28.75 Entertainment 205.22 Securities expense 76.50 ADP fees 373.02 Other 1,406.21 ---------------- Total Miscellaneous Operating Expenses 11,542.52 ---------------- Total Operating Expenses 293,002.19 ---------------- Net Gain/Loss from Business Operations (401,488.19) ================ 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 Expense of Sale ---------------- Net Gain/Loss on Sale of Assets - ---------------- Total Non-Operating Income - ---------------- Expenses Not Related to Business Operations: Legal and Professional Fees 100,000.00 Other Non-Operating Expenses 3,750.00 ---------------- Total Non-Operating Expenses 103,750.00 ---------------- NET INCOME/LOSS FOR PERIOD (505,238.19) ================ ATTACHMENT # 3 Attachment #3 Vendors Amount - ------------------------------------------------------------------------- O'Melveny & Myers 304,611.00 Knobbe Marten Olson & Bear 27,068.34 Winthrop & Couchot 60,000.00 Tax Agencies 3,261.71 United States Trustee 3,750.00 Phan Quoc 144.00 Quang Gia Nguyen 180.00 Jill Nester 259.00 Harvey Miller 441.00 Southern California Edison 5,696.57 - ------------------------------------------------------------------------- Total 405,411.62 (1) Various sales tax agencies ATTACHMENT # 5 3. Statement of Status of Payments to Secured Creditors and Lessors:
Frequency Post Petition of Payments Amount Next Payments Not Made Creditor/ per Contract/ of Each Payment ----------------- Lessor Lease Payment Due Number Amount (1) - ------------------------------------------------------------------------------------------------ 1 The Irvine Company Monthly 38,241.00 1-Jul 2 Konica Monthly 217.58 11-Jul 3 Konica Monthly 328.31 11-Jul 4 Konica Monthly 388.42 27-Jul 5 Pitney Bowes Credit Corporation Quarterly 1,395.00 4 1,860.00 6 Steelcase Financial Services Monthly 381.94 15-Jul 7 Dell Monthly 965.83 4 3,551.76 8 Green Tree Monthly 778.23 4 2,861.88 9 IC Capital Monthly 483.78 4 1,779.06 10 Intelenet Monthly 474.00 15-Jul - -------------------------------------------------------------------------------------------------- * Explanation for Non-Payment: Premier Laser Systems negotiating with vendor
EX-99.5 6 0006.txt PERIOD ENDING JULY 31, 2000 Office of the United States Trustee - -------------------------------------------------------------------------------- In re: DEBTOR IN POSSESSION INTERIM STATEMENT -------------------------------------- PREMIER LASER SYSTEMS, INC. 3 Morgan Statement Number: 5 Irvine, CA 92618 ---------- Debtor. For the period FROM: 07/01/00 TO: 07/31/00 ___________________________________ Chapter 11 Case No.: SA00-12645RA - --------------------------------------------------------------------------------
General Payroll Tax CASH ACTIVITY ANALYSIS (CASH BASIS ONLY) Account Account Account ------------------ --------------- ----------------- A. Total Receipts per all Prior Interim Statements $ 1,864,485.39 $ 129,327.00 $ 200.00 ------------------ --------------- ----------------- B. Less: Total Disbursements per all Prior Statements 737,354.48 122,759.01 -0- ------------------ --------------- ----------------- C. Beginning Balance (A less B) 1,127,130.91 6,567.99 200.00 ------------------ --------------- ----------------- D. Receipts during Current Period 27,835.04 75,000.00 -0- (ATTACH SEPARATE LISTING IF NECESSARY) Description ----------- SEE ATTACHMENT #1 TOTAL RECEIPTS THIS PERIOD: ------------------ --------------- ----------------- E. Balance Available (C plus D) 1,154,965.95 81,567.99 200.00 ------------------ --------------- ----------------- F. Less: Disbursements during Current Period 225,086.61 71,280.74 -0- (ATTACH SEPARATE LISTING IF NECESSARY) Date Check No. Payee/Purpose ---- --------- ------------- SEE ATTACHMENT #1 TOTAL DISBURSEMENTS THIS PERIOD: ------------------ --------------- ----------------- G. Ending Balance (E less F) $ 929,879.34 $ 10,287.25 $ 200.00 ------------------ --------------- -----------------
H. (1) General Account (a) Depository Name and Location: California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010 (b) Account Number: 3700011381 (2) Payroll Account: (a) Depository Name and Location: California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010 (b) Account Number: 3700011111 (3) Tax Account: (a) Depository Name and Location: California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010 (b) Account Number: 3700011031 I. Other monies on hand (SPECIFY TYPE AND LOCATION) (i.e. Certificates of Deposit, Petty Cash): Petty Cash $1500 - -------------------------------------------------------------------------------- I, (Name/Title: Robert Mahoney / CFO ), 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: 8/15/00 ---------------------------- /s/ Robert Mahoney -------------------------------- Debtor in Possession or Trustee 1 Office of the United States Trustee - -------------------------------------------------------------------------------- In re: DEBTOR IN POSSESSION INTERIM STATEMENT -------------------------------------- PREMIER LASER SYSTEMS, INC. 3 Morgan Statement Number: 5 Page 1 of 3 Irvine, CA 92618 ---- Debtor. For the period FROM: 07/01/00 TO: 07/31/00 ___________________________________ Chapter 11 Case No.: SA00-12645RA - -------------------------------------------------------------------------------- 1. Profit and Loss Statement (ACCRUAL BASIS ONLY) (SEE ATTACHMENT TWO) 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 Revenues (Specify) Less: Operating Expenses: Officer Compensation Salaries and Wages - Other Employees Total Salaries and Wages Employee Benefits and Pensions Payroll Taxes Real Estate Taxes Federal and State Income Taxes Total Sales Rent and Lease Exp. (Real Property and Personal Property) Interest Expense (Mortgage, Loan, etc.) Insurance Automobile Expense Utilities (Gas, Electricity, 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 Operation: Legal and Professional Fees (Specify) Other Non-Operating Expenses (Specify) Total Non-Operating Expenses NET INCOME / LOSS FOR PERIOD $ =============== 2 DEBTOR IN POSSESSION OPERATING REPORT NO.: 5 PAGE 3 OF 3 2. Aging of Accounts Payable and Accounts Receivable (exclude pre-petition accounts payable): (SEE ATTACHMENT #3, #4) Accounts Payable Accounts Receivable ----------------- ------------------- Current Under 30 Days $ 104,069.04 $ 747 ----------------- ------------------- Overdue 31-60 Days 109,452.82 (545) ----------------- ------------------- Overdue 61-90 Days 120,778.30 36,792 ----------------- ------------------- Overdue 91-120 Days 161,448.22 ----------------- ------------------- Overdue Over 121 Days 53,486.63 ----------------- ------------------- TOTAL $ 495,748.38 $ 5,312,073 ----------------- ------------------- 3. Statement of Status of Payments to Secured Creditors and Lessors: (SEE ATTACHMENT # 5)
Frequency Post-Petition Payments of Payments per Amount Next Not Made* Contract / Lease of Each Payment Creditor/Lessor (i.e., mo., qtr.) Payment Due Number Amount - -------------------- ------------------- ------------- -------- --------------- --------------- $ $ - -------------------- ------------------- ------------- -------- --------------- --------------- - -------------------- ------------------- ------------- -------- --------------- --------------- - -------------------- ------------------- ------------- -------- --------------- ---------------
*Explanation for Non-Payment:___________________________________________________ ________________________________________________________________________________ 4. Tax Liability: Gross Payroll Expense for Period: $ 67,185.17 Gross Sales for Period Subject to Sales Tax $ 10,762.06
Post-Petition Taxes Still Date Paid* Amount Paid* Owing ------------------------- ------------------- ------------- Federal Payroll and Withholding Taxes 7/10/00, 8/4/00 $ 9,807.68 $ 9,859.81 ------------------------- ------------------- ------------- State Payroll and Withholding Taxes 7/20/00, 8/4/00 2,150.80 2,161.46 ------------------------- ------------------- ------------- State Sales and Use Taxes NET PAID -2- 4,062.07 ------------------------- ------------------- ------------- Real Property Taxes INCLUDED IN RENT --------------------------------------------- -------------
*Attach photocopies of depository receipts from taxing authorities or financial institutions to verity that such deposits or payments have been made (SEE ATTACHMENT #6) 5. Insurance Coverage: (SEE ATTACHMENT #7)
Carrier / Amount of Coverage Policy Premium Paid Agent Name Expiration Date Through Date ---------------------- --------------------- ------------------ ------------------ Worker's Compensation HIH/Glen Carlson $1M, $1M, $1M 6/1/00 4/30/00 ---------------------- --------------------- ------------------ ------------------ Liability Fed. Ins. Co. $4 M ea., $4M agg. 9/1/00 9/1/00 ---------------------------------------------------------------------------------- Fire and Extended Coverage Included in Property Add General Liability Insurance ---------------------- --------------------- ------------------ ------------------ Property & General Liability Fed. Ins. Co. 9/1/00 9/1/00 ---------------------- --------------------- ------------------ ------------------ Theft Fed. Ins. Co. $75K & $75K 9/1/00 9/1/00 ---------------------- --------------------- ------------------ ------------------ Life (Beneficiary: Employees) UNUM 1 x annual pay 11/1/00 4/30/00 ---------------------- --------------------- ------------------ ------------------ Vehicle (Hired) Fed. Ins. Co. $1M 9/1/00 9/1/00 ---------------------- --------------------- ------------------ ------------------ Other (Specify): ---------------------- --------------------- ------------------ ------------------ Marine Open Cargo Centennial $500K & $500K 9/1/00 Until Cancelled ---------------------- --------------------- ------------------ ------------------ Patent Infringement Defense AM Int'l. Specialty $2M ea., $2M agg 6/18/00 6/18/00 ---------------------- --------------------- ------------------ ------------------ D&O Rock River & Lloyd's London $10,000,000 12/10/00 12/10/00 ---------------------- --------------------- ------------------ ------------------
DEBTOR IN POSSESSION OPERATING REPORT NO.: 5 PAGE 3 OF 3 6. Questions: A. Has the Debtor in Possession provided compensation to any officers, directors, shareholder, 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 filing 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 Amounts ONLY)
State Type of Professional Total Post-Petition Name of Professional (Attorney / Accountant / etc.) Amount Paid ----------------------------------- ------------------------------ ---------------------------- Knobbe, Martins, Olson & Bear Attorney $ 37,068.34 ----------------------------------- ------------------------------ ---------------------------- O'Melveny & Myers Attorney 366,111.00 ----------------------------------- ------------------------------ ---------------------------- Winthrop Couchot Attorney 70,000.00 ----------------------------------- ------------------------------ ---------------------------- ----------------------------------- ------------------------------ ---------------------------- ----------------------------------- ------------------------------ ----------------------------
8. Narrative Report of Significant Events and Events out of the Ordinary Course of Business (ATTACH SEPARATE SHEET IF NECESSARY) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- 9. Quarterly Fees: (This Fee must be paid to the United States Trustee every calendar quarter)
Quarterly Total Quarterly Fee Period Ending Disbursements Quarterly Fee Date Amount Still Owing for Quarter Paid Paid Check No. ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- 3/31/00 $ 69,828.69 $ 500.00 4/27/00 $ 500.00 10035, 10038 $ -0- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- 6/30/00 790,304.81 3,750.00 7/19/00 3,750.00 10352 -0- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- ---------------
I, (Name/Title: Robert Mahoney / CFO ), 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: 8/15/00 ------------------- /s/ Robert Mahoney ------------------------------- Debtor in Possession of Trustee -2- ATTACHMENT #2 1. Profit and Loss Statement (Accrual Basis Only) A. Related to Business Operations Gross Sales 14,403.33 Less: Sales Returns and Discounts - ---------------- Net Sales 14,403.33 Less: Cost of Goods Sold: Beginning Inventory at Cost Add: Purchases Less: Ending Inventory at Cost Cost of Goods Sold 69,640.22 ---------------- Gross Profit (55,236.89) Other Operating Revenues - Less: Operating Expenses: Officer Compensation 46,000.00 Salaries and Wages-Other Employees 21,185.17 ---------------- Total Salaries and Wages 67,185.17 Outside Services 59,755.45 Board of Directors Fees 7,500.00 Employee Benefits and Pensions 9,261.47 Payroll Taxes 2,946.75 Real Estate Taxes Federal and State Income Taxes ---------------- Total Taxes 2,946.75 Rent and Lease Expense 22,179.78 Interest Expense Insurance - Automobile Expense Utilities 1,017.18 Depreciation 130,143.51 Repairs and Maintenance Hiring expense Vacation expense Advertising Supplies, Office Expense, Photocopies, etc. 1,244.22 Bad Debts Miscellaneous Operating Expenses: Legal 10,000.00 Travel 1,947.87 Entertainment 93.08 Securities expense 1,540.00 ADP fees Other 431.94 ---------------- Total Miscellaneous Operating Expenses 14,012.89 ---------------- Total Operating Expenses 315,246.42 ---------------- Net Gain/Loss from Business Operations (370,483.31) ================ 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 Expense of Sale ---------------- Net Gain/Loss on Sale of Assets - ---------------- Total Non-Operating Income - ---------------- Expenses Not Related to Business Operations: Legal and Professional Fees 71,500.00 Other Non-Operating Expenses 21,535.50 ---------------- Total Non-Operating Expenses 93,035.50 ---------------- NET INCOME/LOSS FOR PERIOD (463,518.81) ================ ATTACHMENT # 3 Attachment #3 Vendors Amount - ---------------------------------------------------------------------- Knobbe Marten Olson & Bear 37,068.34 O'Melveny & Myers 366,111.00 Winthrop & Couchot 70,000.00 Tax Agencies 4,062.07 Southern California Edison 6,293.61 Magnum Group 12,213.36 - ---------------------------------------------------------------------- Total 495,748.38 ATTACHMENT # 5 3. Statement of Status of Payments to Secured Creditors and Lessors:
Frequency Post Petition of Payments Amount Next Payments Not Made Creditor/ per Contract/ of Each Payment ----------------- Lessor Lease Payment Due Number Amount (1) - ------------------------------------------------------------------------------------------------ 1 The Irvine Company Monthly 38,241.00 1-Aug 2 Konica Monthly 217.58 11-Aug 3 Konica Monthly 328.31 11-Aug 4 Konica Monthly 388.42 27-Aug 5 Pitney Bowes Credit Corporation Quarterly 1,395.00 5 1,860.00 6 Steelcase Financial Services Monthly 381.94 15-Aug 7 Dell Monthly 965.83 5 3,551.76 8 Green Tree Monthly 778.23 5 2,861.88 9 IC Capital Monthly 483.78 5 1,779.06 10 Intelenet Monthly 474.00 15-Aug - -------------------------------------------------------------------------------------------------- * Explanation for Non-Payment: Premier Laser Systems negotiating with vendor
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