EX-2.4 6 a04-4049_1ex2d4.htm EX-2.4

Exhibit 2.4

 

 

 

Monthly Operating Report

 

 

 

 

 

ACCRUAL BASIS

 

 

 

 

 

02/13/95, RWD, 2/96

 

CASE NAME:

The Tape Company

 

 

Tapebargains.com, Inc.

 

 

 

 

CASE NUMBER:

03-34770-HDH-11; 03-34769-HDH-11

 

 

 

 

JUDGE:

Harlin D. Hale

 

 

UNITED STATES BANKRUPTCY COURT

 

NORTHERN DISTRICT OF TEXAS

 

6 DIVISION

 

MONTHLY OPERATING REPORT

 

MONTH ENDING: February 29, 2004

 

 

IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT  (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT AND COMPLETE.  DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY):  IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.

 

 

RESPONSIBLE PARTY:

 

 

 

 

 

 

 

/s/ Dale Booth

 

Chief Executive Officer

 

ORIGINAL SIGNATURE OF RESPONSIBLE PARTY

TITLE

 

 

 

 

 

Dale Booth

 

March 20, 2004

 

PRINTED NAME OF RESPONSIBLE PARTY

DATE

 

 

 

 

 

 

 

 

 

PREPARER:

 

 

 

 

 

 

 

/s/ Lee Weiner

 

Director of Treasury

 

ORIGINAL SIGNATURE OF PREPARER

TITLE

 

 

 

 

 

Lee Weiner

 

March 20, 2004

 

PRINTED NAME OF PREPARER

DATE

 

 

 

 

 

Monthly Operating Report

 

 

 

 

 

ACCRUAL BASIS-1

 

 

 

 

 

02/13/95, RWD, 2/96

 

CASE NAME:

The Tape Company

 

 

Tapebargains.com, Inc.

 

 

 

 

CASE NUMBER:

03-34770-HDH-11; 03-34769-HDH-11

 

 

COMPARATIVE BALANCE SHEET

 

 

 

 

 

SCHEDULE
AMOUNT

 

MONTH
11/30/2003

 

MONTH
12/31/2003

 

MONTH
1/31/2004

 

MONTH
2/29/2004

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

1.

 

UNRESTRICTED CASH

 

$

0

 

$

40,932

 

$

4,771

 

$

4,771

 

$

4,771

 

2.

 

RESTRICTED CASH

 

$

0

 

 

 

 

 

 

 

 

 

3.

 

TOTAL CASH

 

$

0

 

$

40,932

 

$

4,771

 

$

4,771

 

$

4,771

 

4.

 

ACCOUNTS RECEIVABLE (NET)

 

$

4,806,174

 

$

0

 

$

0

 

$

0

 

$

0

 

5.

 

INVENTORY

 

$

1,716,285

 

$

0

 

$

0

 

$

0

 

$

0

 

6.

 

NOTES RECEIVABLE

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

7.

 

PREPAID EXPENSES

 

$

203,019

 

$

0

 

$

0

 

$

0

 

$

0

 

8.

 

OTHER (ATTACH LIST)

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit card and other receivables-Income Tax

 

$

108,178

 

$

0

 

$

46,557

 

$

46,557

 

$

46,557

 

 

 

Deferred tax asset

 

$

104,265

 

$

0

 

$

0

 

$

0

 

$

0

 

 

 

Taxes receivable

 

$

3,942,751

 

$

0

 

$

0

 

$

0

 

$

0

 

 

 

Prepaid merchandise

 

$

112,499

 

$

0

 

$

0

 

$

0

 

$

0

 

 

 

Employee payroll and travel advances

 

$

5,201

 

$

0

 

$

0

 

$

0

 

$

0

 

 

 

TOTAL OTHER

 

$

4,272,894

 

$

0

 

$

46,557

 

$

46,557

 

$

46,557

 

9.

 

TOTAL CURRENT ASSETS

 

$

10,998,372

 

$

40,932

 

$

51,328

 

$

51,328

 

$

51,328

 

10.

 

PROPERTY, PLANT & EQUIPMENT

 

$

3,325,332

 

$

0

 

$

0

 

$

0

 

$

0

 

11.

 

LESS: ACCUMULATED

 

 

 

$

0

 

$

0

 

$

0

 

$

0

 

 

 

DEPRECIATION / DEPLETION

 

$

2,694,116

 

$

0

 

$

0

 

$

0

 

$

0

 

12.

 

NET PROPERTY, PLANT & EQUIPMENT

 

$

631,216

 

$

0

 

$

0

 

$

0

 

$

0

 

13.

 

DUE FROM INSIDERS

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

14.

 

OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST)

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

 

 

Goodwill

 

$

3,134,437

 

$

0

 

$

0

 

$

0

 

$

0

 

15.

 

OTHER (ATTACH LIST)

 

 

 

 

 

 

 

 

 

 

 

16.

 

TOTAL ASSETS

 

$

14,764,025

 

$

40,932

 

$

51,328

 

$

51,328

 

$

51,328

 

POSTPETITION LIABILITIES

 

 

 

 

 

 

 

 

 

 

 

17.

 

ACCOUNTS PAYABLE

 

 

 

$

(679,123

)

$

(674,063

)

$

(674,063

)

$

(674,063

)

18.

 

TAXES PAYABLE

 

 

 

$

51,406

 

$

51,406

 

$

51,406

 

$

51,406

 

19.

 

NOTES PAYABLE

 

 

 

$

0

 

$

0

 

$

0

 

$

0

 

20.

 

PROFESSIONAL FEES*

 

 

 

$

0

 

$

0

 

$

0

 

$

0

 

21.

 

SECURED DEBT*

 

 

 

$

0

 

$

0

 

$

0

 

$

0

 

22.

 

OTHER (ATTACH LIST)

 

 

 

 

 

 

 

 

 

 

 

 

 

Vendor receivables and prepaid merchandise

 

 

 

$

0

 

$

0

 

$

0

 

$

0

 

 

 

Intercompany payable

 

 

 

$

47,450

 

$

6,312

 

$

6,312

 

$

6,312

 

 

 

Accrued expenses

 

 

 

$

0

 

$

0

 

$

0

 

$

0

 

 

 

TOTAL OTHER

 

 

 

$

47,450

 

$

6,312

 

$

6,312

 

$

6,312

 

23.

 

TOTAL POSTPETITION LIABILITIES

 

 

 

$

(580,267

)

$

(616,345

)

$

(616,345

)

$

(616,345

)

PREPETITION LIABILITIES

 

 

 

 

 

 

 

 

 

 

 

24.

 

SECURED DEBT*

 

 

 

 

 

 

 

 

 

 

 

25.

 

PRIORITY DEBT

 

$

636,667

 

$

0

 

$

0

 

$

0

 

$

0

 

26.

 

UNSECURED DEBT

 

$

5,883,256

 

$

4,901,906

 

$

4,901,906

 

$

4,901,906

 

$

4,901,906

 

27.

 

OTHER (ATTACH LIST)

 

 

 

$

0

 

$

0

 

$

0

 

$

0

 

 

 

Vendor receivables and prepaid merchandise

 

$

(112,104

)

$

0

 

$

0

 

$

0

 

$

0

 

 

 

Bank account overdraft

 

$

299,324

 

$

0

 

$

0

 

$

0

 

$

0

 

 

 

Interest Payable

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

 

 

Accrued expenses

 

$

508,925

 

$

0

 

$

0

 

$

0

 

$

0

 

 

 

Deferred Income Tax

 

 

 

$

0

 

$

0

 

$

0

 

$

0

 

 

 

Intercompany payable

 

$

14,985,063

 

$

0

 

$

0

 

$

0

 

$

0

 

 

 

TOTAL OTHER

 

$

15,681,208

 

$

0

 

$

0

 

$

0

 

$

0

 

28.

 

TOTAL PREPETITION LIABILITIES

 

$

22,201,131

 

$

4,901,906

 

$

4,901,906

 

$

4,901,906

 

$

4,901,906

 

29.

 

TOTAL LIABILITIES

 

$

22,201,131

 

$

4,321,639

 

$

4,285,561

 

$

4,285,561

 

$

4,285,561

 

EQUITY

 

 

 

 

 

 

 

 

 

 

 

30.

 

PREPETITION OWNERS’ EQUITY

 

$

(7,437,106

)

$

(7,437,106

)

$

(7,437,106

)

$

(7,437,106

)

$

(7,437,106

)

31.

 

POSTPETITION CUMULATIVE PROFIT OR (LOSS)

 

 

 

$

7,289,634

 

$

7,336,108

 

$

7,336,108

 

$

7,336,108

 

32.

 

DIRECT CHARGES TO EQUITY Writeoff of capital investment by Daisytek

 

 

 

$

(4,133,235

)

$

(4,133,235

)

$

(4,133,235

)

$

(4,133,235

)

33.

 

TOTAL EQUITY

 

$

(7,437,106

)

$

(4,280,707

)

$

(4,234,233

)

$

(4,234,233

)

$

(4,234,233

)

34.

 

TOTAL LIABILITIES & OWNERS’ EQUITY

 

$

14,764,025

 

$

40,932

 

$

51,328

 

$

51,328

 

$

51,328

 

 

*Refernece should be made to the Monthly Operating Report of Daisytek, Incorporated for an account of secured debt and professional fees.

 

 

 

 

Monthly Operating Report

 

 

 

 

 

ACCRUAL BASIS-2

 

 

 

 

 

02/13/95, RWD, 2/96

 

CASE NAME:

The Tape Company

 

 

Tapebargains.com, Inc.

 

 

 

 

CASE NUMBER:

03-34770-HDH-11; 03-34769-HDH-11

 

 

INCOME STATEMENT

 

 

 

 

 

MONTH
8/1/2003-8/31/2003

 

MONTH
2/1/2003-12/31/2003

 

MONTH
01/01/2004 - 01/31/2004

 

MONTH
01/01/2004 - 01/31/2004

 

MONTH
2/1/04 - 2/29/04

 

REVENUES

 

 

 

 

 

 

 

 

 

 

 

1.

 

GROSS REVENUES

 

$

2,500,111

 

$

0

 

$

0

 

$

0

 

$

0

 

2.

 

LESS: RETURNS & DISCOUNTS

 

$

49,731

 

$

0

 

$

0

 

$

0

 

$

0

 

3.

 

NET REVENUE

 

$

2,450,380

 

$

0

 

$

0

 

$

0

 

$

0

 

COST OF GOODS SOLD

 

 

 

 

 

 

 

 

 

 

 

4.

 

MATERIAL

 

 

 

 

 

 

 

 

 

 

 

5.

 

DIRECT LABOR

 

 

 

 

 

 

 

 

 

 

 

6.

 

DIRECT OVERHEAD

 

 

 

 

 

 

 

 

 

 

 

7.

 

TOTAL COST OF GOODS SOLD

 

$

2,267,078

 

$

0

 

$

0

 

$

0

 

$

0

 

8.

 

GROSS PROFIT

 

$

183,302

 

$

0

 

$

0

 

$

0

 

$

0

 

OPERATING EXPENSES

 

 

 

 

 

 

 

 

 

 

 

9.

 

OFFICER / INSIDER COMPENSATION

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

10.

 

SELLING & MARKETING

 

$

6,415

 

$

0

 

$

0

 

$

0

 

$

0

 

11.

 

GENERAL & ADMINISTRATIVE

 

$

501,518

 

$

0

 

$

0

 

$

0

 

$

0

 

12.

 

RENT & LEASE

 

$

98,085

 

$

0

 

$

0

 

$

0

 

$

0

 

13.

 

OTHER (ATTACH LIST)

 

 

 

 

 

 

 

 

 

 

 

14.

 

TOTAL OPERATING EXPENSES

 

$

606,018

 

$

0

 

$

0

 

$

0

 

$

0

 

15.

 

INCOME BEFORE NON-OPERATING

 

 

 

 

 

 

 

 

 

 

 

 

 

INCOME & EXPENSE

 

$

(422,716

)

$

0

 

$

0

 

$

0

 

$

0

 

OTHER INCOME & EXPENSES

 

 

 

 

 

 

 

 

 

 

 

16.

 

NON-OPERATING INCOME (ATT. LIST)

 

 

 

 

 

 

 

 

 

 

 

17.

 

NON-OPERATING EXPENSE (ATT. LIST)

 

 

 

 

 

 

 

 

 

 

 

 

 

Gain on sale (offset in Daisytek Inc.)

 

 

 

$

(46,558

)

$

0

 

$

0

 

$

0

 

 

 

BANK FEES AND OTHER

 

$

(9,892

)

$

289

 

$

0

 

$

0

 

$

0

 

18.

 

INTEREST EXPENSE (Interest Income)

 

$

0

 

$

(206

)

$

0

 

$

0

 

$

0

 

19.

 

DEPRECIATION / DEPLETION

 

$

19,259

 

$

0

 

$

0

 

$

0

 

$

0

 

20.

 

AMORTIZATION

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

21.

 

OTHER (ATTACH LIST)

 

 

 

 

 

 

 

 

 

 

 

22.

 

NET OTHER INCOME & EXPENSES

 

$

9,367

 

$

(46,474

)

$

0

 

$

0

 

$

0

 

REORGANIZATION EXPENSES

 

 

 

 

 

 

 

 

 

 

 

23.

 

PROFESSIONAL FEES*

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

24.

 

U.S. TRUSTEE FEES

 

 

 

 

 

 

 

 

 

 

 

25.

 

OTHER (ATTACH LIST)

 

 

 

 

 

 

 

 

 

 

 

26.

 

TOTAL REORGANIZATION EXPENSES

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

27.

 

INCOME TAX

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

28.

 

NET PROFIT (LOSS)

 

$

(432,083

)

$

46,474

 

$

0

 

$

0

 

$

0

 

 

*Reference should be made to the Monthly Operating Report of Daisytek, Incorporated for an account of professional fees

 

 

 

 

Monthly Operating Report

 

 

 

 

 

ACCRUAL BASIS-3

 

 

 

 

 

02/13/95, RWD, 2/96

 

CASE NAME:

The Tape Company

 

 

Tapebargains.com, Inc.

 

 

 

 

CASE NUMBER:

03-34770-HDH-11; 03-34769-HDH-11

 

 

 

 

 

 

MONTH
7/1/2003-7/31/2003

 

MONTH
11/1/2003 - 11/30/2003

 

MONTH
12/1/2003-12/31/2003

 

MONTH
01/01/2004 - 01/31/2004

 

MONTH
2/1/04 - 2/29/04

 

CASH RECEIPTS AND DISBURSEMENTS

 

 

 

 

 

 

 

 

 

 

 

1.

 

CASH - BEGINNING OF MONTH

 

$

386,670

 

$

40,837

 

$

40,932

 

$

4,771

 

$

4,771

 

RECEIPTS FROM OPERATIONS

 

 

 

 

 

 

 

 

 

 

 

2.

 

CASH SALES

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

COLLECTION OF ACCOUNTS RECEIVABLE

 

 

 

 

 

 

 

 

 

 

 

3.

 

PREPETITION

 

 

 

 

 

 

 

 

 

 

 

4.

 

POSTPETITION

 

$

3,419,216

 

$

0

 

$

0

 

$

0

 

$

0

 

5.

 

TOTAL OPERATING RECEIPTS

 

$

3,419,216

 

$

0

 

$

0

 

$

0

 

$

0

 

NON - OPERATING RECEIPTS

 

 

 

 

 

 

 

 

 

 

 

6.

 

LOANS & ADVANCES (ATTACH LIST)

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

7.

 

SALE OF ASSETS

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

8.

 

OTHER (ATTACH LIST)

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash receipts transfer to Daisytek Inc

 

$

(3,460,296

)

$

0

 

$

(52,788

)

$

0

 

$

0

 

 

 

Payroll funding transfer from Daisytek Inc

 

$

288,008

 

$

0

 

$

0

 

$

0

 

$

0

 

 

 

Other cash transfers from Daisytek Inc.

 

$

2,123,037

 

$

12,700

 

$

13,531

 

$

0

 

$

0

 

 

 

TOTAL OTHER

 

$

(1,049,250

)

$

12,700

 

$

(39,257

)

$

0

 

$

0

 

9.

 

TOTAL NON-OPERATING RECEIPTS

 

$

(1,049,250

)

$

12,700

 

$

(39,257

)

$

0

 

$

0

 

10.

 

TOTAL RECEIPTS

 

$

2,369,965

 

$

12,700

 

$

(39,257

)

$

0

 

$

0

 

11.

 

TOTAL CASH AVAILABLE

 

$

2,756,636

 

$

53,537

 

$

1,676

 

$

4,771

 

$

4,771

 

OPERATING DISBURSEMENTS

 

 

 

 

 

 

 

 

 

 

 

12.

 

NET PAYROLL

 

$

212,099

 

$

0

 

$

0

 

$

0

 

$

0

 

13.

 

PAYROLL TAXES PAID

 

$

75,909

 

$

0

 

$

0

 

$

0

 

$

0

 

14.

 

SALES, USE & OTHER TAXES PAID

 

$

72,402

 

$

0

 

$

0

 

$

0

 

$

0

 

15.

 

SECURED / RENTAL / LEASES

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

16.

 

UTILITIES

 

$

39,991

 

$

7,881

 

$

13,531

 

$

0

 

$

0

 

17.

 

INSURANCE

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

18.

 

INVENTORY PURCHASES

 

$

1,804,719

 

$

0

 

$

0

 

$

0

 

$

0

 

19.

 

VEHICLE EXPENSES

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

20.

 

TRAVEL

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

21.

 

ENTERTAINMENT

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

22.

 

REPAIRS & MAINTENANCE

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

23.

 

SUPPLIES

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

24.

 

ADVERTISING

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

 

 

BANK FEES

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

25.

 

OTHER (ATTACH LIST)

 

 

 

 

 

 

 

 

 

 

 

 

 

Bank reconciliation expenses

 

$

406,929

 

$

4,724

 

$

(16,626

)

$

0

 

$

0

 

26.

 

TOTAL OPERATING DISBURSEMENTS

 

$

2,612,049

 

$

12,605

 

$

(3,095

)

$

0

 

$

0

 

REORGANIZATION EXPENSES

 

 

 

 

 

 

 

 

 

 

 

27.

 

PROFESSIONAL FEES*

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

28.

 

U.S. TRUSTEE FEES

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

29.

 

OTHER (ATTACH LIST)

 

 

 

 

 

 

 

 

 

 

 

30.

 

TOTAL REORGANIZATION EXPENSES

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

31.

 

TOTAL DISBURSEMENTS

 

$

2,612,049

 

$

12,605

 

$

(3,095

)

$

0

 

$

0

 

32.

 

NET CASH FLOW

 

$

(242,084

)

$

95

 

$

(36,162

)

$

0

 

$

0

 

33.

 

CASH - END OF MONTH

 

$

144,587

 

$

40,932

 

$

4,771

 

$

4,771

 

$

4,771

 

 

*Reference should be made to the Monthly Operating Report of Daisytek, Incorporated for an account of professional fees.

 

 

 

 

 

Monthly Operating Report

 

 

 

 

 

ACCRUAL BASIS-4

 

 

 

 

 

02/13/95, RWD, 2/96

 

CASE NAME:

The Tape Company

 

 

Tapebargains.com, Inc.

 

 

 

 

CASE NUMBER:

03-34770-HDH-11; 03-34769-HDH-11

 

 

 

 

 

 

SCHEDULE
AMOUNT

 

MONTH
8/31/2003

 

MONTH
11/30/2003

 

MONTH
12/31/2003

 

MONTH
1/31/2004

 

MONTH
2/29/2004

 

ACCOUNTS RECEIVABLE AGING

 

 

 

 

 

 

 

 

 

 

 

 

 

1.

 

0-30

 

$

4,650,544

 

$

2,846,153

 

$

0

 

$

0

 

$

0

 

$

0

 

2.

 

31-60

 

$

226,922

 

$

219,356

 

$

0

 

$

0

 

$

0

 

$

0

 

3.

 

61-90

 

$

28,518

 

$

17,644

 

$

0

 

$

0

 

$

0

 

$

0

 

4.

 

91+

 

$

357,098

 

$

314,467

 

$

0

 

$

0

 

$

0

 

$

0

 

5.

 

TOTAL ACCOUNTS RECEIVABLE

 

$

5,263,082

 

$

3,397,620

 

$

0

 

$

0

 

$

0

 

$

0

 

6.

 

AMOUNT CONSIDERED UNCOLLECTIBLE

 

$

456,908

 

$

430,210

 

$

0

 

$

0

 

$

0

 

$

0

 

7.

 

ACCOUNTS RECEIVABLE (NET)

 

$

4,806,174

 

$

2,967,410

 

$

0

 

$

0

 

$

0

 

$

0

 

 

AGING OF POSTPETITION TAXES AND PAYABLES

MONTH:

 

February 29, 2004

 

 

 

 

 

0-30
DAYS

 

31-60
DAYS

 

61-90
DAYS

 

91+
DAYS

 

TOTAL

 

TAXES PAYABLE

 

 

 

 

 

 

 

 

 

 

 

1.

 

FEDERAL

 

$

0

 

$

13,944

 

$

0

 

$

0

 

$

13,944

 

2.

 

STATE

 

$

0

 

$

37,462

 

$

0

 

$

0

 

$

37,462

 

3.

 

LOCAL

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

4.

 

OTHER (ATTACH LIST)

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

5.

 

TOTAL TAXES PAYABLE

 

$

0

 

$

51,406

 

$

0

 

$

0

 

$

51,406

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6.

 

ACCOUNTS PAYABLE

 

$

0

 

$

0

 

$

0

 

$

(622,657

)

$

(622,657

)

 

STATUS OF POSTPETITION TAXES

MONTH:

 

January 31, 2004

 

 

 

 

 

BEGINNING
TAX
LIABILITY*

 

AMOUNT
WITHHELD AND/
0R ACCRUED

 

AMOUNT
PAID

 

ENDING
TAX
LIABILITY

 

FEDERAL

 

 

 

 

 

 

 

 

 

1.

 

WITHHOLDING**

 

$

8,592

 

$

0

 

$

0

 

$

8,592

 

2.

 

FICA-EMPLOYEE**

 

$

2,676

 

$

0

 

$

0

 

$

2,676

 

3.

 

FICA-EMPLOYER**

 

$

2,676

 

$

0

 

$

0

 

$

2,676

 

4.

 

UNEMPLOYMENT

 

$

0

 

$

0

 

$

0

 

$

0

 

5.

 

INCOME

 

$

0

 

$

0

 

$

0

 

$

0

 

6.

 

OTHER (ATTACH LIST)

 

$

0

 

$

0

 

$

0

 

$

0

 

7.

 

TOTAL FEDERAL TAXES

 

$

13,944

 

$

0

 

$

0

 

$

13,944

 

STATE AND LOCAL

 

 

 

 

 

 

 

 

 

8.

 

WITHHOLDING

 

$

1,333

 

$

0

 

$

0

 

$

1,333

 

9.

 

SALES

 

$

(12,826

)

$

0

 

$

0

 

$

(12,826

)

10.

 

EXCISE

 

$

0

 

$

0

 

$

0

 

$

0

 

11.

 

UNEMPLOYMENT

 

$

0

 

$

0

 

$

0

 

$

0

 

12.

 

REAL PROPERTY

 

$

15,000

 

$

0

 

$

0

 

$

15,000

 

13.

 

PERSONAL PROPERTY

 

$

27,164

 

$

0

 

$

0

 

$

27,164

 

14.

 

OTHER (ATTACH LIST)

 

 

 

 

 

 

 

 

 

 

 

Washington Business and Occupation tax

 

$

1,000

 

$

0

 

$

0

 

$

1,000

 

 

 

Los Angeles City Business Tax

 

$

5,097

 

$

0

 

$

0

 

$

5,097

 

 

 

Ohio Workers Compensation Tax

 

$

694

 

$

0

 

$

0

 

$

694

 

 

 

TOTAL OTHER

 

$

6,791

 

$

0

 

$

0

 

$

6,791

 

15.

 

TOTAL STATE & LOCAL

 

$

37,462

 

$

0

 

$

0

 

$

37,462

 

16.

 

TOTAL TAXES

 

$

51,406

 

$

0

 

$

0

 

$

51,406

 

 

*                    The beginning tax liability should represent the liability from the prior month or, if this is the first operating report, the amount should be zero.

**             Attach photocopies of IRS Form 6123 or your FTD coupon and payment receipt to verify payment or deposit.

 

 

 

 

Monthly Operating Report

 

 

 

 

 

ACCRUAL BASIS-5

 

 

 

 

 

02/13/95, RWD, 2/96

 

CASE NAME:

The Tape Company

 

 

Tapebargains.com, Inc.

 

 

 

 

CASE NUMBER:

03-34770-HDH-11; 03-34769-HDH-11

 

 

The debtor in possession must complete the reconciliation below for each bank account, including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc.

Accounts with restricted funds should be identified by placing an asterisk next to the account number.  Attach additional sheets if necessary.

 

 

MONTH:  February 29, 2004

 

BANK RECONCILIATIONS

 

 

 

 

 

Account #1

 

Account #2

 

Account #3

 

TOTAL

 

A.

 

BANK:

 

Note (A)

 

 

 

 

 

 

 

B.

 

ACCOUNT NUMBER:

 

See Listing Below

 

 

 

 

 

 

 

C.

 

PURPOSE (TYPE:)

 

Operating/Deep

 

 

 

 

 

 

 

1.

 

BALANCE PER BANK STATEMENT

 

4,771.07

 

 

 

0.00

 

4,771.07

 

2.

 

ADD: TOTAL DEPOSITS NOT CREDITED

 

 

 

 

 

 

 

0.00

 

3.

 

SUBTRACT: OUTSTANDING CHECKS

 

0.00

 

 

 

 

 

0.00

 

4.

 

OTHER RECONCILING ITEMS

 

0.00

 

 

 

0.00

 

0.00

 

5.

 

MONTH END BALANCE PER BOOKS

 

4,771.07

 

 

 

0.00

 

4,771.07

 

6.

 

NUMBER OF LAST CHECK WRITTEN

 

86546

 

 

 

 

 

 

 

 

INVESTMENT ACCOUNTS

 

BANK, ACCOUNT NAME & NUMBER

 

DATE OF
PURCHASE

 

TYPE OF
INSTRUMENT

 

PURCHASE
PRICE

 

CURRENT
VALUE

 

7.

 

Bank One #0005330007003

 

 

 

 

 

0.00

 

0.00

 

8.

 

 

 

 

 

 

 

 

 

 

 

9.

 

 

 

 

 

 

 

 

 

 

 

10.

 

 

 

 

 

 

 

 

 

 

 

11.

 

TOTAL INVESTMENTS

 

 

 

 

 

$

0

 

$

0

 

 

CASH

 

12.

 

CURRENCY ON HAND

 

 

 

 

 

 

 

$

0

 

 

 

Petty Cash

 

 

 

 

 

 

 

 

 

13.

 

TOTAL CASH - END OF MONTH

 

 

 

 

 

 

 

$

4,771

 

 

Note (A)

All of the following bank accounts are included in a single general ledger account.

Daisies perform consolidated bank account reconciliation.

 

Listing of Bank Accounts:

 

Purpose (Type)

 

Balance per Bank Statement

 

Bank One #1091198

 

Operating

 

0.00

 

Bank One #633681036

 

Disbursement

 

0.00

 

Chase #740-5006179-65

 

Depository

 

0.00

 

Wells Fargo #045-5477414

 

Depository

 

4,771.07

 

 

 

 

 

 

 

Total Balance All Accounts

 

 

 

4,771.07

 

 

 

 

 

Monthly Operating Report

 

 

 

 

 

ACCRUAL BASIS-6

 

 

 

 

 

02/13/95, RWD, 2/96

 

 

 

 

 

MONTH:   February 29, 2004

 

CASE NAME:

The Tape Company

 

 

Tapebargains.com, Inc.

 

 

 

 

CASE NUMBER:

03-34770-HDH-11; 03-34769-HDH-11

 

 

PAYMENTS TO INSIDERS AND PROFESSIONALS

 

OF THE TOTAL DISBURSEMENTS SHOWN FOR THE MONTH, LIST THE AMOUNT PAID TO INSIDERS  (AS DEFINED IN SECTION 101 (31)  (A)-(F) OF THE U.S.  BANKRUPTCY CODE) AND TO PROFESSIONALS.  ALSO, FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF COMPENSATION PAID  (e.g. SALARY, BONUS, COMMISSIONS, INSURANCE, HOUSING ALLOWANCE, TRAVEL, CAR ALLOWANCE, ETC.).  ATTACH ADDITIONAL SHEETS IF NECESSARY.

 

INSIDERS

 

NAME

 

TYPE OF
PAYMENT

 

AMOUNT
PAID

 

TOTAL PAID
TO DATE

 

1.

 

See Monthly Operating Report for Daisytek, Incorporated

 

 

 

 

 

 

 

2.

 

 

 

 

 

 

 

 

 

3.

 

 

 

 

 

 

 

 

 

4.

 

 

 

 

 

 

 

 

 

5.

 

 

 

 

 

 

 

 

 

6.

 

TOTAL PAYMENTS TO INSIDERS

 

 

 

$

0

 

$

0

 

 

PROFESSIONALS

 

NAME

 

DATE OF COURT
ORDER AUTHORIZING
PAYMENT

 

AMOUNT
APPROVED

 

AMOUNT
PAID

 

TOTAL PAID
TO DATE

 

TOTAL
INCURRED
& UNPAID *

 

1.

 

See Monthly Operating Report for Daisytek, Incorporated

 

 

 

 

 

 

 

 

 

 

 

2.

 

 

 

 

 

 

 

 

 

 

 

 

 

3.

 

 

 

 

 

 

 

 

 

 

 

 

 

4.

 

 

 

 

 

 

 

 

 

 

 

 

 

5.

 

 

 

 

 

 

 

 

 

 

 

 

 

6.

 

TOTAL PAYMENTS TO PROFESSIONALS

 

 

 

$

0

 

$

0

 

$

0

 

$

0

 

 

* INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED

 

POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS

 

NAME OF CREDITOR

 

SCHEDULED
MONTHLY
PAYMENTS
DUE

 

AMOUNTS
PAID
DURING
MONTH

 

TOTAL
UNPAID
POSTPETITION

 

William Sands

 

8,000

 

8,000.00

 

0.00

 

 

 

 

 

Monthly Operating Report

 

 

 

 

 

ACCRUAL BASIS-7

 

 

 

 

 

02/13/95, RWD, 2/96

 

 

 

 

 

MONTH:   February 29, 2004

 

CASE NAME:

The Tape Company

 

 

Tapebargains.com, Inc.

 

 

 

 

CASE NUMBER:

03-34770-HDH-11; 03-34769-HDH-11

 

 

QUESTIONNAIRE

 

 

 

 

 

YES

 

NO

 

1.

 

HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD?

 

 

 

ý

 

2.

 

HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT?

 

 

 

ý

 

3.

 

ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES?

 

 

 

ý

 

4.

 

HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD?

 

 

 

ý

 

5.

 

HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY?

 

 

 

ý

 

6.

 

ARE ANY POSTPETITION PAYROLL TAXES PAST DUE?

 

 

 

ý

 

7.

 

ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE?

 

 

 

ý

 

8.

 

ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE?

 

 

 

ý

 

9.

 

ARE ANY OTHER POSTPETITION TAXES PAST DUE?

 

 

 

ý

 

10.

 

ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT?

 

 

 

ý

 

11.

 

HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD?

 

 

 

ý

 

12.

 

ARE ANY WAGE PAYMENTS PAST DUE?

 

 

 

ý

 

 

IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS  “YES,” PROVIDE A DETAILED EXPLANATION OF EACH ITEM.  ATTACH ADDITIONAL SHEETS IF NECESSARY.

 

 

 

INSURANCE

 

 

 

 

 

YES

 

NO

 

1.

 

ARE WORKER’S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT?

 

ý

 

 

 

2.

 

ARE ALL PREMIUM PAYMENTS PAID CURRENT?

 

ý

 

 

 

3.

 

PLEASE ITEMIZE POLICIES BELOW.

 

 

 

 

 

 

IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS  “NO,” OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW.   ATTACH ADDITIONAL SHEETS IF NECESSARY.

 

 

 

INSTALLMENT PAYMENTS

 

TYPE OF
POLICY

 

CARRIER

 

PERIOD COVERED

 

PAYMENT AMOUNT
& FREQUENCY

 

See Monthly Operating Report for Daisytek, Incorporated