-----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, AUYS6dt3N1Uy5VeFq+J+lE530Jt6rBXz//wD/GTUf9uiiaET0xkUE+vPlB2ojDPj 4/CCopo4waOdUNAqhVmH4w== 0001019687-01-500121.txt : 20010509 0001019687-01-500121.hdr.sgml : 20010509 ACCESSION NUMBER: 0001019687-01-500121 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20001201 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010508 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PREMIER LASER SYSTEMS INC CENTRAL INDEX KEY: 0000878543 STANDARD INDUSTRIAL CLASSIFICATION: ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [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: 1625371 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 premier_8k-050101.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): December 1, 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.) 1 Argonaut, Suite 201, Aliso Viejo, CA 92656 (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 99.4 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 four months ending December 31, 2000 through March 31, 2001. 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 December 31, 2001 with attachments 1, 2, 3, 5 and 6. 99.2 Debtor in Possession Interim Statement For Period Ending January 31, 2001 with attachments 1, 2, 3, 5 and 6. 99.3 Debtor in Possession Interim Statement For Period Ending February 28, 2001 with attachments 1, 2, 3, 5 and 6. 99.4 Debtor in Possession Interim Statement for Period Ending March 31, 2001 with attachments 1, 2 and 3. 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/ Robert Mosier -------------------------- Robert Mosier Date: May 5, 2001 Chairman of the Board, CEO and CFO INDEX OF EXHIBITS Exhibit No. Description - ----------- ----------- 99.1 Debtor in Possession Interim Statement For Period Ending December 31, 2000 with attachments 1, 2, 3, 5 and 6. 99.2 Debtor in Possession Interim Statement For Period Ending January 31, 2001 with attachments 1, 2, 3, 5 and 6. 99.3 Debtor in Possession Interim Statement For Period Ending February 28, 2001 with attachments 1, 2, 3, 5 and 6. 99.4 Debtor in Possession Interim Statement for Period Ending March 31, 2001 with attachments 1, 2 and 3. EX-99.1 2 premierlaser_8k-ex991.txt EXHIBIT 99.1 EXHIBIT 99.1 Office of the United States Trustee ----------------------------------- - ----------------------------------------------------- ------------------------------------------------------------------------- In re: DEBTOR IN POSSESSION INTERIM STATEMENT PREMIER LASER SYSTEMS, INC. 3 Morgan Statement Number: 10 Irvine, CA 92618 -------- Debtor. For the period FROM: 12/1/00 --------------- TO: 12/31/00 - ----------------------------------------------------- --------------- Chapter 11 Case No.: SA00-12031RA - ----------------------------------------------------- -------------------------------------------------------------------------
----------------- ---------------- ---------------- ---------------- CASH ACTIVITY ANALYSIS (CASH BASIS ONLY) Money Plus General Payroll Tax Account Account Account Account ----------------- ---------------- ---------------- ---------------- A. Total Receipts per all Prior Interim Statements $2,511,496.25 $6,025,173.45 $407,327.00 $200.00 ----------------- ---------------- ---------------- ---------------- B. Less: Total Disbursements per all Prior Statements -0- 4,531,074.98 391,893.63 -0- ----------------- ---------------- ---------------- ---------------- C. Beginning Balance (A less B) 2,511,496.25 1,494,098.47 15,433.37 200.00 ----------------- ---------------- ---------------- ---------------- D. Receipts during Current Period (ATTACH SEPARATE LISTING IF NECESSARY) Description ----------- SEE ATTACHMENT #1 TOTAL RECEIPTS THIS PERIOD: 11,155.86 2,002,832.20 9,000.00 -0- ----------------- ---------------- ---------------- ---------------- E. Balance Available (C plus D) 2,522,652.11 3,496,930.67 24,433.37 200.00 ----------------- ---------------- ---------------- ---------------- F. Less: Disbursements during Current Period (ATTACH SEPARATE LISTING IF NECESSARY) Date Check No. Payee/Purpose -------------- ------------- SEE ATTACHMENT #1 TOTAL DISBURSEMENTS THIS PERIOD -0- 1,682,441.08 18,122.52 -0- ----------------- ---------------- ---------------- ---------------- G. Ending Balance (E less F) $2,522,652.11 $1,814,489.59 $6,310.85 $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 $1,500 - ---------------------------------------------------------------------------------------------------------------------
I, (Name/Title: ROBERT MOSIER / PRESIDENT ), 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: 1-18-01 ----------- ------------------------------- 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: 10 Page 1 of 3 Irvine, CA 92618 -------- Debtor. For the period FROM: 12/1/00 --------------- TO: 12/31/00 - ----------------------------------------------------- --------------- Chapter 11 Case No.: SA00-12031RA - ----------------------------------------------------- -------------------------------------------------------------------------
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 $ ---------------
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DEBTOR IN POSSESSION OPERATING REPORT NO.: 10 PAGE 2 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 $220,217.76 $1,098 ---------------------------- ---------------------------- Overdue 31-60 Days 99,000.00 -814 ---------------------------- ---------------------------- Overdue 61-90 Days 107,000.00 18,997 ---------------------------- ---------------------------- Overdue 91-120 Days 25,180.78 ---------------------------- ---------------------------- Overdue Over 121 Days 5,311,309 ---------------------------- ---------------------------- TOTAL $451,398.54 $5,330,590 ---------------------------- ---------------------------- 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: $ 12,642.34 ------------------- Gross Sales for Period Subject to Sales Tax $ None ------------------------ ------------------------ ----------------------- Post-Petition Taxes Still Date Paid* Amount Paid* Owing ------------------------ ------------------------ ----------------------- Federal Payroll and Withholding Taxes 12-21-00, 1-05-01 $2,076.07 $1,157.93 ------------------------ ------------------------ ----------------------- State Payroll and Withholding Taxes 12-21-00, 1-05-00 343.74 287.69 ------------------------ ------------------------ ----------------------- State Sales and Use Taxes Not Paid -0- ------------------------------------------------- ----------------------- 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: ---------------------- --------------------- ------------------ ------------------ Carrier / Amount of Coverage Policy Premium Paid Agent Name Expiration Date Through Date ---------------------- --------------------- ------------------ ------------------ Worker's Compensation HIH/Calco $1M, $1M, $1M 6-1-01 6-1-01 Product/Completed Liability Medmarc/AON $10Kea., $100K agg. 3-1-01 3-1-01 Self Ins. Ea. $50K, $200 agg. ---------------------- --------------------- ------------------ ------------------ Liability Fed. Ins. Co./AON $4 M ea., $4M agg. 3-1-01 3-1-01 ---------------------- --------------------- ------------------ ------------------ ---------------------------------------------------------------------------------- Fire and Extended Coverage Included in Property Add General Liability Insurance ---------------------------------------------------------------------------------- ---------------------- --------------------- ------------------ ------------------ Property & General Liability Fed. Ins. Co./AON $1M ea., $2M agg. 3-1-01 3-1-01 ---------------------- --------------------- ------------------ ------------------ Theft Fed. Ins. Co./AON $75K & $75K 3-1-01 3-1-01 ---------------------- --------------------- ------------------ ------------------ ---------------------- --------------------- ------------------ ------------------ Vehicle (Hired) Fed. Ins. Co./AON $1M 3-1-01 3-1-01 ---------------------- --------------------- ------------------ ------------------ Other (Specify): ---------------------- --------------------- ------------------ ------------------ Marine Open Cargo Centennial/AON $500K & $500K 1-1-01 1-1-01 Patent Infringement Abatement Reliance/Calco $1M ea., $3M agg 2-24-00 Expired ---------------------- --------------------- ------------------ ------------------ Patent Infringement Defense AM Int'l. $2M ea., $2M agg 6-18-00 Expired Specialty/Calco ---------------------- --------------------- ------------------ ------------------ D&O Rock River & $10,000,000 12-10-00 Expired Lloyd/Calco ---------------------- --------------------- ------------------ ------------------
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DEBTOR IN POSSESSION OPERATING REPORT NO.: 10 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, Marten, Olson & Bear Attorney $17,819.94 -------------------------------------- ------------------------------------- ------------------------------------ O'Melveny & Myers Attorney 265,634.97 -------------------------------------- ------------------------------------- ------------------------------------ Winthrop & Couchet Attorney 67,725.87 -------------------------------------- ------------------------------------- ------------------------------------ -------------------------------------- ------------------------------------- ------------------------------------ -------------------------------------- ------------------------------------- ------------------------------------ 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 69,828.68 500.00 4/27 500.00 10035, 0 10038 ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- 6/30/00 790,304.81 3,750.00 7/19 3,750.00 10352 0 ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- 9/30/00 683,186.02 3,750.00 10-16 3,750.00 10567 0 ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- 12-31-00 1,251,797.77 5,000.00 $5,000.00 ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- ---------------
I, (Name/Title: Robert Mosier / President ), 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: 1-18-01 ----------- ------------------------------- Debtor in Possession or Trustee 3 ATTACHMENT #1 CASH BALANCE - -------------------------------------------------------------------------------- Account number Type 3700021509 interest bearing 2,522,652.11 3700011381 general 1,814,489.59 3700011111 payroll 6,310.85 3700011031 taxes 200.00 - -------------------------------------------------------------------------------- Total cash balance @ 31-Dec 4,343,652.55 1 ATTACHMENT #2 1. Profit and Loss Statement (Modified Cash Basis) A. Related to Business Operations Gross Sales 2,832.20 Less: Sales Returns and Discounts - ------------ Net Sales 2,832.20 Less: Cost of Goods Sold: Beginning Inventory at Cost Add: Purchases Less: Ending Inventory at Cost Cost of Goods Sold ------------ Gross Profit 2,832.20 Other Operating Revenues - Less: Operating Expenses: Officer Compensation 3,942.00 Salaries and Wages-Other Employees 8,700.34 ------------ Total Salaries and Wages 12,642.34 Outside Services 42,258.60 Board of Directors Fees 4,500.00 Employee Benefits and Pensions Payroll Taxes 914.35 Real Estate Taxes Federal and State IncomeTaxes ------------ Total Taxes 914.35 Rent and Lease Expense Interest Expense Insurance 511.55 Automobile Expense Utilities 524.60 Depreciation Repairs and Maintenance 884.55 Hiring expense Vacation expense Advertising Supplies, Office Expense, Photocopies, etc 1,525.80 Bad Debts Miscellaneous Operating Expenses: Legal Travel Entertainment Securities expense 1,250.00 ADP fees Other 1,987.42 ------------ Total Miscellaneous Operating Expenses 3,237.42 ------------ Total Operating Expenses 66,999.21 ------------ Net Gain/Loss from Business Operations (64,167.01) ============ B. Not Related to Business Operations Income: Interest Income 11,155.86 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 11,155.86 ------------ Expenses Not Related to Business Operations: Legal and Professional Fees 619,998.56 Other Non-Operating Expenses ------------ Total Non-Operating Expenses 619,998.56 ------------ NET INCOME/LOSS FOR PERIOD (673,009.71) ============ Note Included in December cash receipts of $2,000,000 was from Surgilight this amount was not recognized. The accounting of Asset Sale to Surgilight will be done after further consultation with professional accountants but no later than 45 days from 1/15/01. 2 ATTACHMENT #3 Vendors Amount - -------------------------------------------------------------------------------- Knobbe Marten Olson & Bear 17,819.94 O'Melveny & Myers 265,634.97 Winthrop & Couchot 67,725.87 Chung Hwan Hahm 8,220.00 Jill Nester 1,968.51 Lisa Mojica 90.00 CPT Group 1,454.09 Honeywell Home & Building 947.00 Gold Coast Glass 1,990.00 Efrain Gonzalez 1,680.00 Quoc Phan 324.00 Peter Pham 520.00 John Kling 6,930.31 Don Skelton 377.05 Judith McCall 12,660.44 Federal Express 62.26 Office of the U.S. Trustee 5,000.00 Three Way Inc. 5,588.15 Employers Group Services 200.00 Magnum Group 13,518.61 Pacific Bell 1,335.51 PublicEase 130.00 Qwest 421.91 InterCall 413.05 Market Wise 863.20 Kaiser Systems Inc. 1,082.05 Three Way Inc. 595.00 Magnum Group 25,000.00 Tax Agencies 8,846.62 - -------------------------------------------------------------------------------- Total 451,398.54 (1) Various Sales Tax Agencies 3 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 - ----------------------------------------------------------------------------------------------------------- 2 Konica(4) Monthly 217.58 11-Feb 3 Konica(4) Monthly 328.31 11-Feb 4 Konica(4) Monthly 388.42 27-Feb 5 Pitney Bowes Credit Corporation Quarterly 1,395.00 11 4,650.00 6 Steelcase Financial Services(4) Monthly 381.94 7 Dell(1) Monthly 965.83 8 Green Tree(2) Monthly 778.23 9 IC Capital(3) Monthly 483.78 10 Intelenet Monthly 474.00 15-Feb - -----------------------------------------------------------------------------------------------------------
(1) Signed Stipulation (2) Signed Stipulation (3) O'Melveny handling in court (4) Under Negotiation 4 ATTACHMENT #6 - -------------------------------------------------------------------------------- Period Period Ending Ending Total 15-Dec 31-Dec - -------------------------------------------------------------------------------- Federal Payroll and Withholding Taxes 2,076.07 1,157.93 3,234.00 State Payroll and Withholding Taxes 343.74 287.69 631.43 - -------------------------------------------------------------------------------- 2,419.81 1,445.62 3,865.43 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- Paid as of Not Paid as of 12/15/2000 12/31/2000 Total - -------------------------------------------------------------------------------- Federal Payroll and Withholding Taxes 2,076.07 1,157.93 3,234.00 State Payroll and Withholding Taxes 343.74 287.69 631.43 - -------------------------------------------------------------------------------- 2,419.81 1,445.62 3,865.43 - -------------------------------------------------------------------------------- 5 EX-99.2 3 premierlaser_8k-ex992.txt EXHIBIT 99.2 EXHIBIT 99.2 Office of the United States Trustee ----------------------------------- - ----------------------------------------------------- ------------------------------------------------------------------------- In re: DEBTOR IN POSSESSION INTERIM STATEMENT PREMIER LASER SYSTEMS, INC. 3 Morgan Statement Number: 11 Irvine, CA 92618 ------ Debtor. For the period FROM: 01/01/01 --------------- TO: 01/31/01 - ----------------------------------------------------- --------------- Chapter 11 Case No.: SA00-12031RA - ----------------------------------------------------- -------------------------------------------------------------------------
----------------- ---------------- ---------------- ---------------- CASH ACTIVITY ANALYSIS (CASH BASIS ONLY) Certificate of General Payroll Tax Deposit Account Account Account ----------------- ---------------- ---------------- ---------------- A. Total Receipts per all Prior Interim Statements $ -0- $-0- $-0- $-0- ----------------- ---------------- ---------------- ---------------- B. Less: Total Disbursements per all Prior Statements -0- -0- -0- -0- ----------------- ---------------- ---------------- ---------------- C. Beginning Balance (A less B) -0- -0- -0- -0- ----------------- ---------------- ---------------- ---------------- D. Receipts during Current Period (ATTACH SEPARATE LISTING IF NECESSARY) Description ----------- SEE ATTACHMENT #1 TOTAL RECEIPTS THIS PERIOD: 4,200,000.00 4,400,000.00 5,000.00 -0- ----------------- ---------------- ---------------- ---------------- E. Balance Available (C plus D) 4,200,000.00 4,400,000.00 5,000.00 -0- ----------------- ---------------- ---------------- ---------------- F. Less: Disbursements during Current Period (ATTACH SEPARATE LISTING IF NECESSARY) DateCheck No. Payee/Purpose -------------- ------------- SEE ATTACHMENT #1 TOTAL DISBURSEMENTS THIS PERIOD: 100,000.00 4,350,817.11 3,330.38 -0- ----------------- ---------------- ---------------- ---------------- G. Ending Balance (E less F) $4,100,000.00 $49,182.89 $1,669.62 $-0- ----------------- ---------------- ---------------- ---------------- H. (1) General Account (a) Depository Name and Location: Wells Fargo, 441 West Whittier Blvd., La Habra, CA 90631 ------------------------------------------------------------------------ (b) Account Number: 201-191-4462 ------------------------------------------------------------------------------------- (2) Payroll Account: (a) Depository Name and Location: Wells Fargo, 441 West Whittier Blvd., La Habra, CA 90631 ------------------------------------------------------------------------ (b) Account Number: 201-191-4488 --------------------------------------------------------------------------------------- (3) Tax Account: (a) Depository Name and Location: Wells Fargo, 441 West Whittier Blvd., La Habra, CA 90631 ------------------------------------------------------------------------ (b) Account Number: 201-191-4496 --------------------------------------------------------------------------------------- (4) Certificate of Deposit: (a) Depository Name and Location: Wells Fargo, 441 West Whittier Blvd., La Habra, CA 90631 ------------------------------------------------------------------------ (b) Account Number: 200-919-3020 ----------------------------------------------------------------------------------------- I. Other monies on hand (SPECIFY TYPE AND LOCATION) (i.e. Certificates of Deposit, Petty Cash): Petty Cash $1500 - ----------------------------------------------------------------------------------------------------------------------------------
1 EXHIBIT 99.2 DEBTOR IN POSSESSION OPERATING REPORT NO.: 11 PAGE 2 OF 2 ------ - ----------------------------------------------------- ------------------------------------------------------------------------- In re: DEBTOR IN POSSESSION INTERIM STATEMENT PREMIER LASER SYSTEMS, INC. 3 Morgan Statement Number: 11 Irvine, CA 92618 ------- Debtor. For the period FROM: 01/01/01 --------------- TO: 01/31/01 - ----------------------------------------------------- --------------- Chapter 11 Case No.: SA00-12031RA - ----------------------------------------------------- ------------------------------------------------------------------------- ----------------- ---------------- ---------------- ---------------- CASH ACTIVITY ANALYSIS (CASH BASIS ONLY) Money Plus General Payroll Tax Account Account Account Account ----------------- ---------------- ---------------- ---------------- J. Total Receipts per all Prior Interim Statements $2,522,652.11 $8,028,005.65 $416,327.00 $200.00 ----------------- ---------------- ---------------- ---------------- K. Less: Total Disbursements per all Prior Statements -0- 6,213,516.06 410,016.15 -0- ----------------- ---------------- ---------------- ---------------- L. Beginning Balance (A less B) 2,522,652.11 1,814,489.59 6,310.85 200.00 ----------------- ---------------- ---------------- ---------------- M. Receipts during Current Period (ATTACH SEPARATE LISTING IF NECESSARY) Description ----------- SEE ATTACHMENT #1 TOTAL RECEIPTS THIS PERIOD: 2,001,009.51 5,532,827.04 5,000.00 -0- ----------------- ---------------- ---------------- ---------------- N. Balance Available (C plus D) 4,523,661.62 7,347,316.63 11,310.85 200.00 ----------------- ---------------- ---------------- ---------------- O. Less: Disbursements during Current Period (ATTACH SEPARATE LISTING IF NECESSARY) DateCheck No. Payee/Purpose -------------- ------------- SEE ATTACHMENT #1 TOTAL DISBURSEMENTS THIS PERIOD: 4,522,652.11 6,273,086.22 9,590.83 200.00 ----------------- ---------------- ---------------- ---------------- P. Ending Balance (E less F) $1,009.51 $1,074,230.41 $1,720.02 $-0- ----------------- ---------------- ---------------- ---------------- Q. (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 -------------------------------------------------------------------------------------- (4) Money Plus Account (b) Account Number: 3700021509 -------------------------------------------------------------------------------------- R. Other monies on hand (SPECIFY TYPE AND LOCATION) (i.e. Certificates of Deposit, Petty Cash): -----------------------------------------------------------------------------------------------------------------------------
I, (Name/Title: ROBERT MOSIER / PRESIDENT), 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: 2-09-2001 ------------ ------------------------------- Debtor in Possession or Trustee 2 Office of the United States Trustee ----------------------------------- - ----------------------------------------------------- ------------------------------------------------------------ In re: DEBTOR IN POSSESSION INTERIM STATEMENT PREMIER LASER SYSTEMS, INC. 3 Morgan Report No. : 11 Page 1 of 3 Irvine, CA 92618 ------------ Debtor. For the period FROM: 01-01-01 --------------- TO: 01-31-01 - ---------------------------------------------- --------------- Chapter 11 Case No.: SA00-12031RA - ----------------------------------------------------- ------------------------------------------------------------
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 $ ---------------
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DEBTOR IN POSSESSION OPERATING REPORT NO.: 11 PAGE 2 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 340,578.20 -0- ---------------------------- ---------------------------- Overdue 31-60 Days 120,000.00 1,098 ---------------------------- ---------------------------- Overdue 61-90 Days 99,000.00 -814 ---------------------------- ---------------------------- Overdue 91-120 Days 107,000.00 ---------------------------- ---------------------------- Overdue Over 121 Days 25,180.78 5,330,306 ---------------------------- ---------------------------- TOTAL $691,758.98 $5,300,590 ---------------------------- ---------------------------- 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: $ 9,550.58 ---------------- Gross ales for Period Subject to Sales Tax $ none ------------------------ ------------------------ ----------------------- Post-Petition Taxes Still Date Paid* Amount Paid* Owing ------------------------ ------------------------ ----------------------- Federal Payroll and Withholding Taxes 12-21-00, 1-05-01 $2,302.88 $1,206.38 ------------------------ ------------------------ ----------------------- State Payroll and Withholding Taxes 12-21-00, 1-05-00 $571.68 $298.11 ------------------------ ------------------------ ----------------------- State Sales and Use Taxes Not 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: ---------------------- --------------------- ------------------ ------------------ Carrier / Amount of Coverage Policy Premium Paid Agent Name Expiration Date Through Date ---------------------- --------------------- ------------------ ------------------ Worker's Compensation HIH/Calco $1M, $1M, $1M 6-1-01 6-1-01 Product/Completed Liability Medmarc/AON $10Kea., $100K agg. 3-1-01 3-1-01 Self Ins. Ea. $50K, $200 agg. ---------------------- --------------------- ------------------ ------------------ Fed. Ins. Co./AON $4 M ea., $4M agg. 3-1-01 3-1-01 Liability ---------------------- --------------------- ------------------ ------------------ ---------------------------------------------------------------------------------- Fire and Extended Coverage Included in Property Add General Liability Insurance ---------------------------------------------------------------------------------- ---------------------- --------------------- ------------------ ------------------ Property & General Liability Fed. Ins. Co./AON $1M ea., $2M agg. 3-1-01 3-1-01 ---------------------- --------------------- ------------------ ------------------ ---------------------- --------------------- ------------------ ------------------ Theft Fed. Ins. Co./AON $75K & $75K 3-1-01 3-1-01 ---------------------- --------------------- ------------------ ------------------ ---------------------- --------------------- ------------------ ------------------ Vehicle (Hired) Fed. Ins. Co./AON $1M 3-1-01 3-1-01 ---------------------- --------------------- ------------------ ------------------ Other (Specify): ---------------------- --------------------- ------------------ ------------------ Marine Open Cargo Centennial/AON $500K & $500K 1-1-01 1-1-01 Patent Infringement Abatement Reliance/Calco $1M ea., $3M agg 2-24-00 Expired ---------------------- --------------------- ------------------ ------------------ Patent Infringement Defense AM Int'l. $2M ea., $2M agg 6-18-00 Expired Specialty/Calco ---------------------- --------------------- ------------------ ------------------ D&O Rock River & $10,000,000 12-10-00 Expired Lloyd/Calco ---------------------- --------------------- ------------------ ------------------
2
DEBTOR IN POSSESSION OPERATING REPORT NO.: 11 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, Marten, Olson & Bear Attorney $34,614.02 -------------------------------------- ------------------------------------- ------------------------------------ O'Melveny & Myers Attorney $359,634.97 -------------------------------------- ------------------------------------- ------------------------------------ Winthrop & Couchet Attorney $113,872.27 -------------------------------------- ------------------------------------- ------------------------------------ -------------------------------------- ------------------------------------- ------------------------------------ -------------------------------------- ------------------------------------- ------------------------------------ 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 69,828.68 500.00 4/27 500.00 10035, 0 10038 ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- 6/30/00 790,304.81 3,750.00 7/19 3,750.00 10352 0 ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- 9/30/00 683,186.02 3,750.00 10-16 3,750.00 10567 0 ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- 12-31-00 1,251,797.77 5,000.00 1-4 5,000.00 114 0 ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- ---------------
I, (NAME/TITLE: ROBERT MOSIER / PRESIDENT), 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: 2-09-01 --------- ------------------------------- Debtor in Possession of Trustee 3 ATTACHMENT #1
CASH BALANCE - -------------------------------------------------------------------------------------------------------------------------- Bank Name Account number Type Wells Fargo 201-191-4462 general 49,182.89 Wells Fargo 201-191-4488 payroll 1,669.62 Wells Fargo 201-191-4496 taxes - Wells Fargo 200-919-3020 certificate of deposit 4,100,000.00 California Bank & Trust 3700021509 interest bearing 1,009.51 California Bank & Trust 3700011381 general 1,074,230.41 California Bank & Trust 3700011111 payroll 1,720.02 California Bank & Trust 3700011031 taxes - - -------------------------------------------------------------------------------------------------------------------------- Total cash balance @ 31-Jan 5,227,812.45
1 ATTACHMENT #2 1. Profit and Loss Statement (Modified Cash Basis) A. Related to Business Operations Gross Sales 1,950.38 Less: Sales Returns and Discounts - --------------- Net Sales 1,950.38 Less: Cost of Goods Sold: Beginning Inventory at Cost Add: Purchases Less: Ending Inventory at Cost Cost of Goods Sold --------------- Gross Profit 1,950.38 Other Operating Revenues - Less: Operating Expenses: Officer Compensation Salaries and Wages-Other Employees 9,550.58 --------------- Total Salaries and Wages 9,550.58 Outside Services 92,610.78 Board of Directors Fees Patent Maintenance 13,453.53 Payroll Expenses 405.42 Payroll Taxes 1,025.03 Real Estate Taxes Federal and State Income Taxes --------------- Total Taxes 1,025.03 Rent and Lease Expense Interest Expense Insurance 2,953.24 Shipping 1,413.60 Storage 10,297.15 Automobile Expense Utilities 3,888.63 Depreciation Repairs and Maintenance 5,476.22 Hiring expense Court fees 5,000.00 Supplies, Office Expense, Photocopies, etc. 3,174.34 Miscellaneous Operating Expenses: Legal Travel Entertainment Securities expense 2,175.00 ADP fees Other 1,758.10 --------------- Total Miscellaneous Operating Expenses 3,933.10 --------------- Total Operating Expenses 153,181.62 --------------- Net Gain/Loss from Business Operations (151,231.24) =============== B. Not Related to Business Operations Income: Interest Income 1,009.51 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 1,009.51 --------------- Expenses Not Related to Business Operations: Legal and Professional Fees Other Non-Operating Expenses --------------- Total Non-Operating Expenses - --------------- NET INCOME/LOSS FOR PERIOD (150,221.73) =============== Note Included in December cash receipts of $1,000,000 was from Surgilight this amount was not recognized. The accounting of Asset Sale to Surgilight will be done after further consultation with professional accountants but no later than 45 days from 2-15-01 Note (1) See Attachment 2a 2 ATTACHMENT #3 Jan-00 Vendors Amount - ------------------------------------------------------------------------------- Knobbe Marten Olson & Bear - O'Melveny & Myers - Winthrop & Couchot - Quoc Phan 30 180.00 Donald Skelton 30 58.00 Market Wise Staffing & Consulting 30 771.90 Efrain Gonzalez 30 350.00 Leo Blomgren 30 218.70 Integrated Environmental Systems 30 50.00 Frenkel of California 30 125,565.00 Colette Cozean 30 22,597.50 Magnum Group 120 25,000.00 Tax Agencies >120 8,846.62 - ------------------------------------------------------------------------------- Total 183,637.72 (1) Various Sales Tax Agencies 3 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 - ----------------------------------------------------------------------------------------------------------- 2 Konica(4) Monthly 217.58 11-Feb 3 Konica(4) Monthly 328.31 11-Feb 4 Konica(4) Monthly 388.42 27-Feb 5 Pitney Bowes Credit Corporation Quarterly 1,395.00 11 4,650.00 6 Steelcase Financial Services(4) Monthly 381.94 7 Dell(1) Monthly 965.83 8 Green Tree(2) Monthly 778.23 9 IC Capital(3) Monthly 483.78 10 Intelenet Monthly 474.00 15-Feb - -----------------------------------------------------------------------------------------------------------
(1) Signed Stipulation (2) Signed Stipulation (3) O'Melveny handling in court (4) Under Negotiation 4 ATTACHMENT #6 - -------------------------------------------------------------------------------- Period Period Ending Ending Total 31-Dec 15-Jan - -------------------------------------------------------------------------------- Federal Payroll and Withholding Taxes 1,157.93 1,144.95 2,302.88 State Payroll and Withholding Taxes 287.69 283.99 571.68 - -------------------------------------------------------------------------------- 1,445.62 1,428.94 2,874.56 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- Paid as of Not Paid as of 01/31/2001 01/31/2001 Total - -------------------------------------------------------------------------------- Federal Payroll and Withholding Taxes 2,302.88 1,206.38 3,509.26 State Payroll and Withholding Taxes 571.68 298.11 869.79 - -------------------------------------------------------------------------------- 2,874.56 1,504.49 4,379.05 - -------------------------------------------------------------------------------- 5 EX-99.3 4 premierlaser_8k-ex993.txt EXHIBIT 99.3 EXHIBIT 99.3
Office of the United States Trustee ----------------------------------- - ----------------------------------------------------- ------------------------------------------------------------------------- In re: DEBTOR IN POSSESSION INTERIM STATEMENT PREMIER LASER SYSTEMS, INC. 1 Argonaut Statement Number: 12 Aliso Viejo, CA 92656-4111 ----------- Debtor. For the period FROM: 02/01/01 --------------- TO: 02/28/01 - ---------------------------------------------- --------------- Chapter 11 Case No.: SA00-12031RA - ----------------------------------------------------- ------------------------------------------------------------------------- ----------------- ---------------- ---------------- ---------------- CASH ACTIVITY ANALYSIS (CASH BASIS ONLY) Certificate of General Payroll Money Market Deposit Account Account Account ----------------- ---------------- ---------------- ---------------- A. Total Receipts per all Prior Interim Statements $ 4,200,000.00 $ 4,400,000.00 $ 5,000.00 $-0- ----------------- ---------------- ---------------- ---------------- B. Less: Total Disbursements per all Prior Statements 100,000.00 $ 4,350,912.11 3,330.38 -0- ----------------- ---------------- ---------------- ---------------- C. Beginning Balance (A less B) 4,100,000.00 $ 49,087.89 1,669.62 -0- ----------------- ---------------- ---------------- ---------------- D. Receipts during Current Period (ATTACH SEPARATE LISTING IF NECESSARY) Description ----------- SEE ATTACHMENT #1 TOTAL RECEIPTS THIS PERIOD: 18,331.76 1,268,886.73 621.13 ----------------- ---------------- ---------------- ---------------- E. Balance Available (C plus D) 4,100,000.00 1,317,974.62 1,669.62 621.13 ----------------- ---------------- ---------------- ---------------- F. Net Transfers for this Period (810,671.25) 17,000.00 870,000.00 ----------------- ---------------- ---------------- ---------------- G. Less: Disbursements during Current Period (ATTACH SEPARATE LISTING IF NECESSARY) DateCheck No. Payee/Purpose -------------- ------------- SEE ATTACHMENT #1 TOTAL DISBURSEMENTS THIS PERIOD: -0- 175,155.77 10,078.88 ----------------- ---------------- ---------------- ---------------- H. Ending Balance (E less F) $4,118,331.76 $ 332,147.60 8,590.74 $870,621.13 ----------------- ---------------- ---------------- ---------------- H. (1) General Account (a) Depository Name and Location: Wells Fargo, 441 West Whittier Blvd., La Habra, CA 90631 ------------------------------------------------------------------------ (b) Account Number: 201-191-4462 ------------------------------------------------------------------------------------- (2) Payroll Account: (a) Depository Name and Location: Wells Fargo, 441 West Whittier Blvd., La Habra, CA 90631 ------------------------------------------------------------------------ (b) Account Number: 201-191-4488 --------------------------------------------------------------------------------------- (3) Tax Account: (a) Depository Name and Location: Wells Fargo, 441 West Whittier Blvd., La Habra, CA 90631 ------------------------------------------------------------------------ (b) Account Number: 201-191-4470 --------------------------------------------------------------------------------------- (4) Certificate of Deposit: (a) Depository Name and Location: Wells Fargo, 441 West Whittier Blvd., La Habra, CA 90631 ------------------------------------------------------------------------ (b) Account Number: 200-919-3020 ----------------------------------------------------------------------------------------- I. Other monies on hand (SPECIFY TYPE AND LOCATION) (i.e. Certificates of Deposit, Petty Cash): Petty Cash $1500 - ----------------------------------------------------------------------------------------------------------------------------------
1 EXHIBIT 99.3
DEBTOR IN POSSESSION OPERATING REPORT NO.: 12 PAGE 2 OF 2 ------ - ----------------------------------------------------- ------------------------------------------------------------------------- In re: DEBTOR IN POSSESSION INTERIM STATEMENT PREMIER LASER SYSTEMS, INC. 1 Argonaut Statement Number: 12 Aliso Viejo, CA 92656-4111 ----------- Debtor. For the period FROM: 02/01/01 --------------- TO: 02/28/01 - ---------------------------------------------- --------------- Chapter 11 Case No.: SA00-12031RA - ----------------------------------------------------- ------------------------------------------------------------------------- ----------------- ---------------- ---------------- ---------------- CASH ACTIVITY ANALYSIS (CASH BASIS ONLY) Money Plus General Payroll Tax Account Account Account Account ----------------- ---------------- ---------------- ---------------- K. Total Receipts per all Prior Interim Statements $4,523,661.62 $13,560,832.69 $421,327.00 $200.00 ----------------- ---------------- ---------------- ---------------- L. Less: Total Disbursements per all Prior Statements 4,522,652.11 12,486,602.28 419,606.98 200.00 ----------------- ---------------- ---------------- ---------------- M. Beginning Balance (A less B) 1,009.51 1,074,230.41 1,720.02 -0- ----------------- ---------------- ---------------- ---------------- N. Receipts during Current Period (ATTACH SEPARATE LISTING IF NECESSARY) Description ----------- SEE ATTACHMENT #1 TOTAL RECEIPTS THIS PERIOD: -0- (1,000,000.00) -0- -0- ----------------- ---------------- ---------------- ---------------- O. Balance Available (C plus D) 1,009.51 74,230.41 1,720.02 -0- ----------------- ---------------- ---------------- ---------------- P. Net Transfers for this Period (1,009.51) (73,599.02) (1,720.22) ----------------- ---------------- ---------------- ---------------- Q. Less: Disbursements during Current Period (ATTACH SEPARATE LISTING IF NECESSARY) DateCheck No. Payee/Purpose -------------- ------------- SEE ATTACHMENT #1 TOTAL DISBURSEMENTS THIS PERIOD: -0- 631.39 -0- -0- ----------------- ---------------- ---------------- ---------------- R. Ending Balance (E less F) $-0- $-0- $-0- $-0- ----------------- ---------------- ---------------- ---------------- S. (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 -------------------------------------------------------------------------------------- (4) Money Plus Account (b) Account Number: 3700021509 -------------------------------------------------------------------------------------- R. Other monies on hand (SPECIFY TYPE AND LOCATION) (i.e. Certificates of Deposit, Petty Cash): -----------------------------------------------------------------------------------------------------------------------------
I, (Name/Title: ROBERT MOSIER / PRESIDENT), 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: 3-14-2001 ------------ ------------------------------- Debtor in Possession or Trustee
Office of the United States Trustee ----------------------------------- - ----------------------------------------------------- ------------------------------------------------------------------------- In re: DEBTOR IN POSSESSION INTERIM STATEMENT PREMIER LASER SYSTEMS, INC. 1 Argonaut Statement Number: 12 Page 1 of 3 Aliso Viejo, CA 92656-4111 ----------- Debtor. For the period FROM: 02/01/01 --------------- TO: 02/28/01 - ---------------------------------------------- --------------- Chapter 11 Case No.: SA00-12031RA - ----------------------------------------------------- ------------------------------------------------------------------------- 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 $ ---------------
1
DEBTOR IN POSSESSION OPERATING REPORT NO.: 12 PAGE 2 OF 3 ----- 2. Aging of Accounts Payable and Accounts Receivable (exclude pre-petition accounts payable): SEE ATTACHMENT 2 ---------------------------- ---------------------------- Accounts Payable Accounts Receivable ---------------------------- ---------------------------- Current Under 30 Days $76,007.06 -0- ---------------------------- ---------------------------- Overdue 31-60 Days 47,597.50 -0- ---------------------------- ---------------------------- Overdue 61-90 Days 25,000.00 -0- ---------------------------- ---------------------------- Overdue 91-120 Days 11,481.39 -0- ---------------------------- ---------------------------- Overdue Over 121 Days 7,235.84 5,330,306 ---------------------------- ---------------------------- TOTAL $176,168.41 $5,330,306 ---------------------------- ---------------------------- 3. Statement of Status of Payments to Secured Creditors and Lessors: SEE ATTACHMENT 3 - ---------------------------------- ------------------- --------------- --------------- ------------------------------- 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: $ 9,617.17 ---------------- Gross Sales for Period Subject to Sales Tax none ------------------------ ------------------------ ----------------------- Post-Petition Taxes Still Date Paid* Amount Paid* Owing ------------------------ ------------------------ ----------------------- Federal Payroll and Withholding Taxes 02-05-00, 02-19-01 $2,315.49 0 ------------------------ ------------------------ ----------------------- State Payroll and Withholding Taxes 02-05-00, 02-19-01 $723.76 0 ------------------------ ------------------------ ----------------------- State Sales and Use Taxes Not 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 5. Insurance Coverage: ---------------------- --------------------- ------------------ ------------------ Carrier / Amount of Coverage Policy Premium Paid Agent Name Expiration Date Through Date ---------------------- --------------------- ------------------ ------------------ Worker's Compensation HIH/Calco $1M, $1M, $1M 6-1-01 6-1-01 Product/Completed Liability Medmarc/AON $10Kea., $100K agg. 3-1-01 3-1-01 Self Ins. Ea. $50K, $200 agg. ---------------------- --------------------- ------------------ ------------------ Fed. Ins. Co./AON $4 M ea., $4M agg. 3-1-01 3-1-01 Liability ---------------------- --------------------- ------------------ ------------------ ---------------------------------------------------------------------------------- Fire and Extended Coverage Included in Property Add General Liability Insurance ---------------------------------------------------------------------------------- ---------------------- --------------------- ------------------ ------------------ Property & General Liability Fed. Ins. Co./AON $1M ea., $2M agg. 3-1-01 3-1-01 ---------------------- --------------------- ------------------ ------------------ Theft Fed. Ins. Co./AON $75K & $75K 3-1-01 3-1-01 ---------------------- --------------------- ------------------ ------------------ ---------------------- --------------------- ------------------ ------------------ Vehicle (Hired) Fed. Ins. Co./AON $1M 3-1-01 3-1-01 ---------------------- --------------------- ------------------ ------------------ Other (Specify): ---------------------- --------------------- ------------------ ------------------ Marine Open Cargo Centennial/AON $500K & $500K 1-1-01 Expired Patent Infringement Abatement Reliance/Calco $1M ea., $3M agg 2-24-00 Expired ---------------------- --------------------- ------------------ ------------------ Patent Infringement Defense AM Int'l. $2M ea., $2M agg 6-18-00 Expired Specialty/Calco ---------------------- --------------------- ------------------ ------------------ D&O Rock River & $10,000,000 12-10-00 Expired Lloyd/Calco ---------------------- --------------------- ------------------ ------------------
2
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) SEE ATTACHMENT 4 -------------------------------------- ------------------------------------- ------------------------------------ State Type of Professional Total Post-Petition Name of Professional (Attorney / Accountant / etc.) Amount Unpaid -------------------------------------- ------------------------------------- ------------------------------------ Knobbe, Marten, Olson & Bear Attorney $47,681.86 -------------------------------------- ------------------------------------- ------------------------------------ O'Melveny & Myers Attorney $417,017.97 -------------------------------------- ------------------------------------- ------------------------------------ Winthrop & Couchet Attorney $149,946.27 -------------------------------------- ------------------------------------- ------------------------------------ Squar Milner Rheel & Williamson Accountants $19,485.75 -------------------------------------- ------------------------------------- ------------------------------------ -------------------------------------- ------------------------------------- ------------------------------------ 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 $69,828.68 $500.00 04/27 $500.00 10035, 0 10038 ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- 6/30/00 $790,304.81 $3,750.00 07/19 $3,750.00 10352 0 ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- 9/30/00 $683,186.02 $3,750.00 10/16 $3,750.00 10567 0 ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- 12/31/00 $1,251,797.77 $5,000.00 01/04 $5,000.00 114 0 ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- --------------- ---------------- ----------------- --------------- -------------- --------------- --------------- ---------------
I, (Name/Title: ROBERT MOSIER / PRESIDENT), 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: 03-15-01 ------------ ------------------------------- Debtor in Possession of Trustee 3 ATTACHMENT #1 1. Profit and Loss Statement (Modified Cash Basis) A. Related to Business Operations Gross Sales 18,886.73 Less: Sales Returns and Discounts - ------------- Net Sales 18,886.73 Less: Cost of Goods Sold: Beginning Inventory at Cost Add: Purchases Less: Ending Inventory at Cost Cost of Goods Sold ------------- Gross Profit 18,886.73 Other Operating Revenues - Less: Operating Expenses: Officer Compensation Salaries and Wages-Other Employees 6,577.92 ------------- Total Salaries and Wages 6,577.92 Outside Services 36,407.46 Board of Directors Fees Patent Maintenance - Payroll Expenses 461.71 Payroll Taxes 3,039.25 Real Estate Taxes Federal and State Income Taxes ------------- Total Taxes 3,039.25 Rent and Lease Expense 4,000.00 Interest Expense Insurance 125,982.00 Shipping 1,152.75 Storage 769.50 Automobile Expense Utilities 1,697.49 Depreciation Repairs and Maintenance 1,999.75 Hiring expense Court fees - Supplies, Office Expense, Photocopies, etc. 3,873.01 Miscellaneous Operating Expenses: Legal Travel Entertainment Securities expense - ADP fees Other - ------------- Total Miscellaneous Operating Expenses - ------------- Total Operating Expenses 185,960.84 ------------- Net Gain/Loss from Business Operations (167,074.11) ============= B. Not Related to Business Operations Income: Interest Income 18,952.89 Other Non-Operating Revenues Gross Proceeds on Sale of Assets 250,000.00 Less: Original Cost of Assets plus Expense of Sale ------------- Net Gain/Loss on Sale of Assets 250,000.00 ------------- Total Non-Operating Income 268,952.89 ------------- Expenses Not Related to Business Operations: Legal and Professional Fees Other Non-Operating Expenses ------------- Total Non-Operating Expenses - ------------- NET INCOME/LOSS FOR PERIOD 101,878.78 ============= 1 ATTACHMENT #2 February 28, 2001
- --------------------------------------------------------------------------------------------------------------------------------- VENDORS >120 Days 91-120 Days 61-90 Days 31-60 Days <30 Days Total % - --------------------------------------------------------------------------------------------------------------------------------- Market Wise Staffing & Consulting 836.64 836.64 0.00 Market Wise Staffing & Consulting 734.00 734.00 0.00 Efrain Gonzalez 507.50 507.50 0.00 Leo Blomgren 504.00 504.00 0.00 Thomas Gray & Associates 780.00 780.00 0.00 Colette Cozean 22,597.50 5,750.00 28,347.50 0.16 Magnum Group 7,235.84 11,481.39 25,000.00 25,000.00 25,000.00 93,717.23 0.53 Tax Agencies (1) 8,846.62 8,846.62 0.05 Three Way, Inc. 4,175.50 4,175.50 0.02 Blue Shield 3,691.33 3,691.33 0.02 Qwest 755.00 755.00 0.00 Jeff Anderson settlement 12,000.00 12,000.00 0.07 Medical Products International 570.00 570.00 0.00 Frenkle of California 12,500.00 12,500.00 0.07 First World Communications 486.59 486.59 0.00 Fred Feldman/FJF Associates 1,000.00 1,000.00 0.01 Cherie Bernard Bankruptcy Paral. 815.50 815.50 0.00 Computer Packages, Inc. 5,901.00 5,901.00 0.03 - --------------------------------------------------------------------------------------------------------------------------------- Total Accounts Payable $16,082.46 $11,481.39 $25,000.00 $47,597.50 $76,007.06 $176,168.41 100.00%
2 ATTACHMENT # 3 3. STATEMENT OF STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS:
- ----------------------------------------------------------------------------------------------------------------------------------- Frequency Post Petition of Payments Amount Next Payments Not Made Notes Creditor/ per Contract/ of Each Payment -------------------------------------------------- Lessor Lease Payment Due Number Amount - ----------------------------------------------------------------------------------------------------------------------------------- 1 William Simmons Monthly 2,000.00 01-Apr 4 month office lease 2 Konica(1) Monthly 217.58 1 2,200.00 Fax machine 3 Konica(1) Monthly 328.31 1 5,000.00 7490 Copier 4 Konica(1) Monthly 388.42 1 7050 Copier 5 Pitney Bowes Credit Corporation(1) Quarterly 1,395.00 - - Equip. retrieved 6 Steelcase Financial Services(4) Monthly 381.94 1 2,000.00 Equip. sold to Intralase 7 Dell(1) Monthly 965.83 - Equip. retrieved 8 Green Tree(1) Monthly 778.23 - Equip. retrieved 9 IC Capital(3) Monthly 483.78 Khai Lequang (OMM) 10 Intelenet Monthly 474.00 1 505.00 Cancel as of 3/1/01 - -----------------------------------------------------------------------------------------------------------------------------------
(1) Signed Stipulation (2) Signed Stipulation (3) O'Melveny handling in court (4) Under Negotiation 3 ATTACHMENT #4 February 2001
PROFESSIONALS >120 Days 91-120 Days 61-90 Days 31-60 Days <30 Days Total - ----------------------------------------------------------------------------------------------------------------------------- Squar Milner 19,485.75 19,485.75 Knobbe, Marten, Olson, & Bear 12,291.62 16,287.96 14,592.28 4,510.00 47,681.86 O'Melveny & Myers 140,634.97 50,000.00 75,000.00 94,000.00 57,383.00 417,017.97 Winthrop & Couchot 12,725.87 35,000.00 20,000.00 46,146.40 36,074.00 149,946.27 - ----------------------------------------------------------------------------------------------------------------------------- Total Professional Fees $153,360.84 $97,291.62 $11,287.96 $54,738.68 $17,452.75 $34,131.85
4 EX-99.4 5 ex_99-4.txt EXHIBIT 99.4 EXHIBIT 99.4 ============================================================================================= OFFICE OF THE UNITED STATES TRUSTEE ============================================================================================= Page 1 of 2 - ----------------------------------------------------- ------------------------------------------------------------ In re: DEBTOR IN POSSESSION INTERIM STATEMENT PREMIER LASER SYSTEMS, INC. Statement Number: 12 Debtor. For the Period FROM: March 1, 2001 Chapter 11 Case No. SA00-12031RA TO March 31, 2001 - ----------------------------------------------------- ------------------------------------------------------------
Wells Fargo Wells Fargo Wells Fargo Wells Fargo Bank Bank Bank Bank Totals All Certificate General Payroll Money CASH ACTIVITY ANALYSIS Accounts Of Deposit Account Account Market --------------- --------------- --------------- --------------- --------------- A. Total Receipts All Prior Interim Stmts. $27,398,860.93 $ 4,218,331.76 $ 5,668,886.73 $ 5,000.00 $ 621.13 B. Less: Total Disbursements All Prior Stmts 22,069,169.90 100,000.00 4,526,067.88 13,409.26 0.00 Net Transfers Between Accounts 0.00 0.00 (810,671.25) 17,000.00 870,000.00 --------------- --------------- --------------- --------------- --------------- C. Beginning Balance (A less B) 5,329,691.23 4,118,331.76 332,147.60 8,590.74 870,621.13 D. Receipts During Current Period 27,493.92 17,026.28 9,371.31 0.00 1,096.33 (See attached for detail) --------------- --------------- --------------- --------------- --------------- E. Balance Available (C plus D) 5,357,185.15 0.00 341,518.91 8,590.74 871,717.46 F. Less: Disbursements during period 164,811.93 0.00 155,821.10 8,990.83 0.00 Transfers Between Accounts 0.00 0.00 (155,100.00) 4,100.00 149,000.00 --------------- --------------- --------------- --------------- --------------- G. Ending Balance (E less F) $ 5,192,373.22 $ 4,135,358.04 $ 32,597.81 $ 3,699.91 $ 1,020,717.46 =============== =============== =============== =============== =============== - ------------------------------------------------------------------------------------------------------------------------------------ H. Depository Information 1. Held Asset Certificate of Deposit Account Depository Name & Location Wells Fargo Bank, 441 West Whittier Blvd., La Habra, CA 90631 Account Number 200-919-3020 (New Account Opened) 2. General Account Depository Name & Location Wells Fargo Bank, 441 West Whittier Blvd., La Habra, CA 90631 Account Number 201-191-4462 (New Account Opened) 3. Payroll Account Depository Name & Location Wells Fargo Bank, 441 West Whittier Blvd., La Habra, CA 90631 Account Number 201-191-4488 (New Account Opened) 4. Money Market Account Depository Name & Location Wells Fargo Bank, 441 West Whittier Blvd., La Habra, CA 90631 Account Number 200-919-3020 (New Account Opened) - ------------------------------------------------------------------------------------------------------------------------------------
I, Robert P. Mosier, President, 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 Robert P. Mosier, President, Debtor In Possession Sheet 1 (4) ============================================================================================= OFFICE OF THE UNITED STATES TRUSTEE ============================================================================================= Page 2 of 2 - ----------------------------------------------------- ------------------------------------------------------------ In re: DEBTOR IN POSSESSION INTERIM STATEMENT PREMIER LASER SYSTEMS, INC. Statement Number: 12 Debtor. For the Period FROM: March 1, 2001 Chapter 11 Case No. SA00-12031RA TO March 31, 2001 - ----------------------------------------------------- ------------------------------------------------------------
CBT Bank CBT Bank CBT Bank CBT Bank Money Market General Payroll Tax CASH ACTIVITY ANALYSIS Account Account Account Account --------------- --------------- --------------- --------------- A. Total Receipts All Prior Interim Statements $ 4,523,661.62 $12,560,832.69 $ 421,327.00 $ 200.00 B. Less: Total Disbursements All Prior Statements 4,522,652.11 12,487,233.67 419,606.98 200.00 Net Transfers Between Accounts (1,009.51) (73,599.02) (1,720.02) 0.00 --------------- --------------- --------------- --------------- C. Beginning Balance (A less B) (0.00) (0.00) 0.00 0.00 D. Receipts During Current Period 0.00 0.00 0.00 0.00 (See attached for detail) --------------- --------------- --------------- --------------- E. Balance Available (C plus D) (0.00) (0.00) 0.00 0.00 F. Less: Disbursements during period 0.00 0.00 0.00 0.00 Transfers Between Accounts 0.00 0.00 0.00 0.00 --------------- --------------- --------------- --------------- G. Ending Balance (E less F) $ (0.00) $ (0.00) $ 0.00 $ 0.00 =============== =============== =============== =============== - --------------------------------------------------------------------------------------------------------------------- H. Depository Information 5. Money Market Account Account Closed and Funds Trnasferred to new Wells Fargo Account a) Depository Name & Location California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010 b) Account Number 3700011381 6. General Account Account Closed and Funds Trnasferred to new Wells Fargo Account a) Depository Name & Location California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010 b) Account Number 3700011111 7. Payroll Account Account Closed and Funds Trnasferred to new Wells Fargo Account a) Depository Name & Location California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010 b) Account Number 3700021509 8. Tax Account Account Closed and Funds Trnasferred to new Wells Fargo Account a) Depository Name & Location California Bank & Trust, 3250 Wilshire Blvd., Los Angeles, CA 90010 b) Account Number 3700011031 - --------------------------------------------------------------------------------------------------------------------- I, Robert P. Mosier, President, 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 Robert P. Mosier, President, Debtor In Possession Sheet1 (5)
- ----------------------------------------------------- ------------------------------------------------------------ In re: DEBTOR IN POSSESSION OPERATING REPORT PREMIER LASER SYSTEMS, INC. Debtor Report #: 12 Page 1 of 3 1 Argonaut, Suite 201, Aliso Viejo, VA 92656 For the Period FROM: March 1, 2001 SA00-12031RA TO March 31, 2001 - ----------------------------------------------------- ------------------------------------------------------------ 1. Profit and Loss Statement a. Related to Business Operations: ------------------------------- Gross Sales/ A/R Collected $ 1,267.26 Less: Sales Returns and Discounts 0.00 ------------- Net Sales $ 1,267.26 Less: Cost of Goods Sold: 0.00 ------------- Gross Profit $ 1,267.26 Less: Operating Expenses: ------------------------- Officer Compensation 20,650.00 Salaries and Wages - Other Employees 5,838.52 ------------- Total Salaries and Wages 26,488.52 Employee Benefits and Pensions 139.00 139.00 Payroll Taxes 2,538.79 Real Estate Taxes 0.00 Federal and State Income Taxes 0.00 ------------- Total Taxes 2,538.79 Rent and Lease Expense 1,500.00 Outside Services 83,707.21 Insurance 6,232.97 Security/Alarm 0.00 Utilities (Gas, Electricity, Water, Phone, etc.) 4,088.71 Patent & Securities/Exchange Expenses 3,285.00 Repairs, Maintenance & Gardening 4,043.22 Supplies, Office Exp., Photocopies, etc. 2,830.10 Moving & Storage of Records 14,332.08 Bank Charges 0.00 ------------- Total Other Operating Expenses 120,019.29 ------------- Total Operating Expenses 149,185.60 ------------- NET GAIN/(LOSS) FROM BUSINESS OPERATIONS (147,918.34) b. Income Not Related to Business Operations: ------------------------------------------ Interest Income 18,122.61 Vendor Refunds 52.92 Employee Health Insurance Payments 772.89 Gross Proceeds on Sales of Assets 7,278.24 Less: Orig Cost of Assets + Expenses of Sale 0.00 Net Gain/Loss on Sale of Assets 0.00 ------------- Total Non-Operating Income 26,226.66 Expenses not Related to Business Operations ------------------------------------------- UST Quarterly Fees 0.00 Court Approved Professional Fees 0.00 Costs - Fax/Xerox/Postage 0.00 Claims Review 3,626.33 Court Approved Settlements 12,000.00 ------------- Total Non Operating Expenses 15,626.33 ------------- NET INCOME (LOSS) FOR PERIOD $(137,318.01) ============= This financial statement has been prepared on the cash basis of accounting. As this is a liquidating case, the Debtor believes that an accrual based financial statement would be misleading. Sheet1
============================================================================================= DEBTOR IN POSSESSION OPERATING REPORT NO.: 12 PAGE 2 OF 3 ------ =============================================================================================
2. Aging of Accounts Payable and Accounts Receivable (excluding pre-petition payable): SEE ATTACHMENT #1 Accrued Accounts Accounts Payroll Payable Receivable ------- ------- ---------- Current Under 30 Days $0 $113,854 $0 Overdue 31 - 60 Days $0 $400 $0 Overdue 61 - 90 Days $0 $10,650 $0 Overdue 91 - 120 Days $0 $18,307 $0 Overdue Over 121 Days $0 $23,744 $5,330,306 ----------------------------- --------------- TOTAL $0 $166,956 $5,330,306 ============================= =============== 3. Statement of Status of Payments to Secured Creditors and Lessors: Post-Petition Amount of Payments Not Made Frequency of Each Next Pay ----------------- Creditor / Lessor Payment Payment Due Number Amount ----------------- ------- ------- -------- ------ ------ SEE ATTACHMENT # 2 4. Tax Liability: Gross Payroll Expense for Period: $ 8,377.31 ----------- Gross Sales for Period Subject to Sales Tax $0.00 ----------- Date Amount Paid Paid Post Petition Taxes Still Owing ---- ---- ------------------------------- *Federal Payroll & Withholding Taxes $2,136.33 None *State Payroll & Withholding Taxes $402.46 State Sales & Use Taxes $0.00 None Real Property Taxes $0.00 None *Premier Laser Systems, Inc. is on full service with ADP Payroll processing. They deduct all payroll taxes and remit to the correct taxing agency. Premium Policy Exp. Paid 5. Insurance Coverage Carrier/Agent Name Amount of Coverage Date Thru Date ------------------ ------------------ ----------- --------- Workers Compensation HIH/Calco $1M,$1M,$1M 06/01/2001 06/01/2001 Product/Completed Liab. Medmarc/AON $10K ea, $100K agg. 02/28/2002 02/28/2002 Self Ins. Ea. $50K $200 agg. Liability Federal Insurance/AON $4M ea, $4M agg 03/01/2001 * 03/01/2001* Directors & Officers Liab. World Wide Facilities/RLI $5M ea., $5m agg. 01/21/2004 01/21/2004 Fire & Extended Coverage Included in Property Add General Liability Insurance Property & Genl Liab. Federal Insurance/AON $1M ea., $2M agg. 03/01/2001 * 03/01/2001* Theft Federal Insurance/AON $75K & $75K 03/01/2001 * 03/01/2001* Vehicle (Hired) Federal Insurance/AON $1M 03/01/2001 * 03/01/2001* *The Liability, Fire & Extended Coverage and Property & General Liability policies are currently being negotiated and we expect them to bind today (4/13/01) or Monday (4/16/01). Sheet1 (2)
============================================================================================= DEBTOR IN POSSESSION OPERATING REPORT NO.: 12 PAGE 3 OF 3 ------ =============================================================================================
6. Questions: a. Has the Debtor in Possession provided compensation to any officers, directors, shareholders 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 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 Amounts ONLY): Total SEE ATTACHED STATEMENT # 3 Post-Petition Type of Professional Amount Name of Professional (Attorney, Accountant / etc) Unpaid -------------------- ---------------------------- ------ Knobbe, Marten, Olson & Bear Attorney $54,422.71 O'Melveney & Myers Attorney $466,439.47 Winthrop & Couchet Attorney $190,787.76 Squar Milner Rheel & Williamson Accountants $41,287.75 8. Narrative of Report of Significant Events and Events out of the Ordinary Course of Business: (ATTACH SEPARATE SHEET IF NECESSARY). SEE ATTACHMENT #4 9. Quarterly Fees: Total Quarterly Quarter Disbursements Quarterly Date Amount Check Fee Ending For Quarter Fee Paid Paid Number Still Owing ------ ----------- --------- ---- ------ ------ ----------- 03/31/2000 $69,829 $500 04/27/2000 $500 10035/10038 $0 06/30/2000 $790,305 $3,750 07/19/2000 $3,750 10352 $0 09/30/2000 $683,186 $3,750 10/16/2000 $3,750 10567 $0 12/31/2000 $1,251,798 $5,000 01/04/2001 $5,000 114 $0 I. Robert P. Mosier, President , 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 Robert P. Mosier, President, Debtor In Possession Sheet1 (3)
ATTACHMENT # 1
3. STATEMENT OF STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS: - ------------------------------------------------------------------------------------------------------------------------------------ Frequency Post Petition of Payments Amount Next Payments Not Made Notes Creditor/ per Contract/ of Each Payment ------------------------------------------------- Lessor Lease Payment Due Number Amount - ------------------------------------------------------------------------------------------------------------------------------------ 1 William Simmons Monthly 2,000.00 01-Apr 4 month office lease 2 Konica(1) Monthly 217.58 April 1 2,200.00 Fax machine, 2028 copier 3 Konica(1) Monthly 328.31 April 1 7490 Copier 3 Konica(1) Monthly 388.42 May 1 5,000.00 7050 Copier, no stip 5 Pitney Bowes Credit Corporation(1) Quarterly 1,395.00 - Zero owed Equip. retrieved 6 Steelcase Financial Services(4) Monthly 381.94 May 1 2,056.00 Equip. sold to Intralase 7 Dell(1) Monthly 965.83 Zero owed Equip. retrieved 8 Green Tree(1) Monthly 778.23 Zero owed Equip. retrieved, laptops 9 IC Capital(3) Monthly 483.78 May no stip yet. 10 Intelenet Monthly 474.00 April/May 1 505.00 Cancel as of 3/1/01 - ------------------------------------------------------------------------------------------------------------------------------------ (1) Signed Stipulation (2) Signed Stipulation (3) O'Melveny handling in court (4) Under Negotiation Sheet2
ATTACHMENT # 2
3. STATEMENT OF STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS: - ------------------------------------------------------------------------------------------------------------------------------------ Frequency Post Petition of Payments Amount Next Payments Not Made Notes Creditor/ per Contract/ of Each Payment ------------------------------------------------- Lessor Lease Payment Due Number Amount - ------------------------------------------------------------------------------------------------------------------------------------ 1 William Simmons Monthly 2,000.00 01-Apr 4 month office lease 2 Konica(1) Monthly 217.58 April 1 2,200.00 Fax machine, 2028 copier 3 Konica(1) Monthly 328.31 April 1 7490 Copier 3 Konica(1) Monthly 388.42 May 1 5,000.00 7050 Copier, no stip 5 Pitney Bowes Credit Corporation(1) Quarterly 1,395.00 - Zero owed Equip. retrieved 6 Steelcase Financial Services(4) Monthly 381.94 May 1 2,056.00 Equip. sold to Intralase 7 Dell(1) Monthly 965.83 Zero owed Equip. retrieved 8 Green Tree(1) Monthly 778.23 Zero owed Equip. retrieved, laptops 9 IC Capital(3) Monthly 483.78 May no stip yet. 10 Intelenet Monthly 474.00 April/May 1 505.00 Cancel as of 3/1/01 - ------------------------------------------------------------------------------------------------------------------------------------ (1) Signed Stipulation (2) Signed Stipulation (3) O'Melveny handling in court (4) Under Negotiation Sheet2
ATTACHMENT #3 March 31, 2001
PROFESSIONALS >120 Days 91-120 Days 61-90 Days 31-60 Days <30 Days Total - ------------------------------------------------------------------------------------------------------------------------------------ Squar Milner 19,485.75 15,602.00 6,200.00 41,287.75 Knobbe, Marten, Olson, & Bear 12,291.62 16,287.96 14,592.28 4,510.00 6,740.85 54,422.71 O'Melveny & Myers 190,634.97 75,000.00 94,000.00 57,383.00 49,421.50 466,439.47 Winthrop & Couchot 47,725.87 20,000.00 46,146.40 36,074.00 40,841.49 190,787.76 - ------------------------------------------------------------------------------------------------------------------------------------ Total Professional Fees 250,652.46 111,287.96 174,224.43 113,569.00 103,203.84 752,937.69 Grand Total (Vendors+Professionals) 919,893.28 Sheet1
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