-----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, F1wE8I5GS2XC7dOEFbL6bV9oitBftc/EApEGH2vaAO7YAeriepN1OuNKdAKKjm6O vzcjwWX52R2Zqmm2tj09lA== 0000906768-98-000029.txt : 19981216 0000906768-98-000029.hdr.sgml : 19981216 ACCESSION NUMBER: 0000906768-98-000029 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19981130 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19981215 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MRS TECHNOLOGY INC CENTRAL INDEX KEY: 0000906768 STANDARD INDUSTRIAL CLASSIFICATION: SPECIAL INDUSTRY MACHINERY, NEC [3559] IRS NUMBER: 042904966 STATE OF INCORPORATION: MA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-21908 FILM NUMBER: 98769392 BUSINESS ADDRESS: STREET 1: 231 SUTTON STREET STREET 2: UNIT 1D CITY: NO. ANDOVER STATE: MA ZIP: 01845 BUSINESS PHONE: 978-682-4000 MAIL ADDRESS: STREET 1: 10 ELIZABETH DRIVE CITY: CHELMSFORD STATE: MA ZIP: 01824 8-K 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. Date of Report (Date of earliest event reported): December 15, 1998 Exact name of registrant as specified in its charter: MRS Technology, Inc. State or other jurisdiction of incorporation: Massachusetts Commission File Number: 000-21908 IRS Employer Identification Number: 04-2904966 Address of principal executive offices: 231 Sutton Street, No. Andover, MA Zip Code: 01845 Registrant's telephone number, including area code: (978)682-4000 Item 5. Other Events MONTHLY OPERATING REPORTS FILED WITH FEDERAL TRUSTEE On July 1, 1998, MRS Technology, Inc. (the "Company") filed a voluntary petititon for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The petition was filed in the U.S. Bankruptcy court for the District of Massachusetts (Western Division). The case number is 98-44938-JFQ. Pursuant to Bankruptcy Rule 2015 and the United States Trustee's Operating Guidelines and Reporting requirements for Chapter 11 cases, the Company is obligated to file Monthly Operating Reports (MORs) with the Federal Trustee. The Company's MORs for this case for the month ending November 30, 1998 will be filed with the Federal Trustee at the U.S. Bankruptcy Court in Worcester, Massachusetts on December 16, 1998. Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits {c} Exhibits
Exhibit Description of Document - ------- ----------------------- 99.1 Monthly operating Report (Consolidated) of the Company for the month ending November 30, 1998 (1)
SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereto autorized. MRS Technology, Inc. December 15, 1998 /S/Patricia F. DiIanni Vice President and Chief Financial Officer EX-99 2 EXHIBIT 99.1 UNITED STATES BANKRUPTCY COURT WESTERN DIVISION OF MASSACHUSETTS Case Name: MRS Technology, Inc. Case Number: 98-44938-JFQ CHAPTER 11 MONTHLY OPERATING REPORT FOR MONTH ENDING NOVEMBER,1998 Comes Now, MRS Technology, Inc. Debtor-In-Possession, and hereby submits its Monthly Operating Report for the period commencing November 1, 1998 and ending Novemmber 30, 1998 as shown by the report and exhibits consisting of 17 pages and containing the following, as indicated: (X) Monthly Reporting Questionnaire (Attachment 1) (X) Comparative Balance Sheets (Forms OPR-1 & OPR-2) (X) Summary of Accounts Receivable (Form OPR-3) (X) Schedule of Post-petition Liabilities (Form OPR-4) (X) Income Statement (Form OPR-5) (X) Statement of Sources and Uses of Cash (Form OPR-6) I declare under penalty of perjury that this report and all attachments are true and correct to the best of my knowledge and belief. Date: December 15, 1998 DEBTOR(S)-IN-POSSESSION /s/ Patricia F. DiIanni Name & Title: Patricia F. DiIanni Vice President and Chief Financial Officer Address: MRS Technology, Inc. 231 Sutton Street, Unit 1D No. Anodver, MA 01845 Telephone No.: (978) 682-4000 ATTACHMENT 1 CHAPTER 11 MONTHLY OPERATING REPORT MONTHLY REPORTING QUESTIONNAIRE Case Name: MRS Technology, Inc. Case Number: 98-44938-JFQ MONTH OF: November 1998 1. Payroll: State the amount of all executive wages paid and taxes withheld and paid.
Name and Title Wages Paid Taxes Withheld Of Executive Gross Net Due Paid C.P. Herrmann, CEO $14,615.40 $12,093.60 Weekly Weekly Before Before P.F. DiIanni, CFO $ 7,692.32 $ 5,507.72 Payday Payday E. DaSilviera, VP $ 8,076.92 $ 5,898.97 Via ADP Via ADP TOTAL EXECUTIVE PAYROLL: $30,384.64
2. Insurance: Is workers' compensation and other insurance in effect? Yes. Are payments current? Yes. If any policy has lapsed, been replaced or renewed, state so in the schedule below. Attach a copy of the new policy's binder or cover page. Date Carrier Coverage Expiration Premium Coverage Type Name Amount Policy # Date Amounts Pd Thru Homeowners Rental Property Liability Vehicle Workers Compensation Other CHAPTER 11 ATTACHMENT 1 MONTHLY OPERATING REPORT (Page 2) DETAILED LISTING OF DISBURSEMENTS CASE NAME: MRS Technology, Inc. CASE NUMBER: 98-44938-JFQ MONTH OF: Novmeber 1998
3. Bank Accounts Account Type Operating *MRSA Payroll Other Total Bank Name Fleet Japan BankBoston Petty Cash Account Number 94088-55556 N/A 896-60243 N/A BEGINNING BOOK $228,395 $15,624 $ 32,609 $1,859 $278,487 BALANCE PLUS: Deposits 185,066 39,991 0 944 226,001 LESS: Disbursements (117,992) (6,590) (91,224) (865) (216,671) Other: Transfers In (Out) (95,000) 0 95,000 0 0 Foreign Exchange Impact (884) (884) ENDING BOOK BALANCE $200,469 $48,141 $ 36,385 $1,938 $286,933 * MRS Asia is located in Japan and has one service employee.
4. Post-Petition Payments: List any post-petition payments to professionals and payments on Pre-petition debts in the schedule below (attach separate sheet if necessary).
Payments To/On Amount Date Check # Professionals (attorneys, None Accountants, etc.): Pre-petition Debts: None
COMPARATIVE BALANCE SHEETS FORM OPR-1 REV 7/92 Case Name: MRS Technology, Inc. Month Ended: November 1998 Case Number: 98-44938-JFQ
FILING DATE MONTH ASSETS 7/1/98 July CURRENT ASSETS Cash $ 129,041 $ 212,290 Other negotiable instruments (i.e. CD's, Treasury Bills, Etc.) 0 0 Accounts Receivable, Net (OPR-3) 201,899 412,005 Less allowance for doubtful accounts (21,045) (21,045) Inventory, at cost 5,575,890 5,443,375 Prepaid expenses and deposits 132,884 131,300 Investments 0 0 Other: Uninvoiced Ship. 135,374 82,960 TOTAL CURRENT ASSETS $6,154,043 $6,260,885 PROPERTY, PLANT AND EQUIPMENT, AT COST 3,906,242 3,906,242 Less Accumulated Depreciation (3,775,570) (3,794,569) NET PROPERTY, PLANT AND EQUIPMENT 130,672 111,673 + OTHER ASSETS 29,339 29,091 TOTAL ASSETS $6,314,054 $6,401,648 +Itemize if value of "Other Assets" exceeds 10% of "Total Assets"
COMPARATIVE BALANCE SHEETS FORM OPR-1 REV 7/92 Case Name: MRS Technology, Inc. Month Ended: November 1998 Case Number: 98-44938-JFQ
MONTH MONTH ASSETS August September CURRENT ASSETS Cash $ 321,509 $ 183,089 Other negotiable instruments (i.e. CD's, Treasury Bills, Etc.) 0 0 Accounts Receivable, Net (OPR-3) 266,224 255,532 Less allowance for doubtful accounts (21,045) (21,045) Inventory, at cost 5,411,849 5,337,618 Prepaid expenses and deposits 130,245 80,179 Investments 0 0 Other: Uninvoiced Ship. 82,960 82,960 TOTAL CURRENT ASSETS $6,191,742 5,918,334 PROPERTY, PLANT AND EQUIPMENT, AT COST 3,906,242 3,891,499 Less Accumulated Depreciation (3,809,060) (3,823,244) NET PROPERTY, PLANT AND EQUIPMENT 97,182 68,255 + OTHER ASSETS 28,946 27,493 TOTAL ASSETS $6,317,870 $6,014,081 +Itemize if value of "Other Assets" exceeds 10% of "Total Assets"
COMPARATIVE BALANCE SHEETS FORM OPR-1 REV 7/92 Case Name: MRS Technology, Inc. Month Ended: November 1998 Case Number: 98-44938-JFQ
MONTH MONTH ASSETS October November CURRENT ASSETS Cash $ 278,488 $ 286,933 Other negotiable instruments (i.e. 0 0 CD's, Treasury Bills, Etc.) Accounts Receivable, Net (OPR-3) 232,293 160,931 Less allowance for doubtful accounts (21,045) (21,045) Inventory, at cost 5,313,110 5,267,447 Prepaid expenses and deposits 78,045 59,883 Investments 0 0 Other: Uninvoiced Ship. 82,960 0 TOTAL CURRENT ASSETS $5,963,851 $5,754,149 PROPERTY, PLANT AND EQUIPMENT, AT COST 3,891,499 17,264 Less Accumulated Depreciation (3,885,365) (11,610) NET PROPERTY, PLANT AND EQUIPMENT 6,134 5,654 + OTHER ASSETS 27,380 58,720 TOTAL ASSETS $5,997,365 $5,818,523 +Itemize if value of "Other Assets" exceeds 10% of "Total Assets"
COMPARATIVE BALANCE SHEETS FORM OPR-2 REV 7/92 Case Name: MRS Technology, Inc. Month Ended: November 1998 Case Number: 98-44938-JFQ
TOTAL MONTH LIABILITIES 7/1/98 July POST PETITION LIABILITIES 0 98,018 Priority Debt/Secured & Employee Expenses * $ 1,040,051 $ 1,070,538 Unsecured Debt 2,217,507 2,315,871 TOTAL PRE PETITION LIABILITIES 3,257,558 3,386,409 TOTAL LIABILITIES 3,257,558 3,484,427 SHAREHOLDER'S EQUITY (DEFICIT) Preferred Stock 0 0 Common Stock 68,586 68,586 Paid-In Capital 36,511,205 36,511,205 Retained Earnings Through Filing Date (33,523,295) (33,523,295) Post Filing Date 0 (130,874) TOTAL SHAREHOLDERS' EQUITY $ 3,056,496 $ 2,925,622 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 6,314,054 $ 6,410,049 * Includes accrued interest and expenses.
COMPARATIVE BALANCE SHEETS FORM OPR-2 REV 7/92 Case Name: MRS Technology, Inc. Month Ended: November 1998 Case Number: 98-44938-JFQ
MONTH MONTH LIABILITIES August September POST PETITION LIABILITIES $ 97,475 $ 144,022 Priority Debt/Secured & Employee Expenses * $ 1,114,668 1,126,257 Unsecured Debt 2,343,878 2,167,668 TOTAL PRE PETITION LIABILITIES 3,458,546 3,293,925 TOTAL LIABILITIES 3,556,021 3,437,947 SHAREHOLDER'S EQUITY (DEFICIT) Preferred Stock 0 0 Common Stock 68,585 68,588 Paid-In Capital 36,511,205 36,511,202 Retained Earnings Through Filing Date (33,523,295) (33,523,295) Post Filing Date (294,646) (480,361) TOTAL SHAREHOLDERS' EQUITY $ 2,761,849 2,576,134 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 6,317,870 6,014,081 * Includes accrued interest and expenses.
COMPARATIVE BALANCE SHEETS FORM OPR-2 REV 7/92 Case Name: MRS Technology, Inc. Month Ended: November 1998 Case Number: 98-44938-JFQ
MONTH MONTH LIABILITIES October November POST PETITION LIABILITIES $ 192,354 $ 129,138 Priority Debt/Secured & Employee Expenses * $ 1,140,333 1,150,089 Unsecured Debt 2,129,703 2,184,927 TOTAL PRE PETITION LIABILITIES 3,270,036 3,335,016 TOTAL LIABILITIES 3,462,390 3,464,154 SHAREHOLDER'S EQUITY (DEFICIT) Preferred Stock 0 0 Common Stock 68,588 68,588 Paid-In Capital 36,511,202 36,511,202 Retained Earnings Through Filing Date (33,523,295) (33,523,295) Post Filing Date (521,520) (702,126) TOTAL SHAREHOLDERS' EQUITY $ 2,534,975 2,354,369 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 5,997,365 $ 5,818,523 * Includes accrued interest and expenses.
SUMMARY OF ACCOUNTS RECEIVABLE FORM OPR-3 REV 7/92 Case Name: MRS Technology, Inc. Month Ended: November 1998 Case Number: 98-44938-JFQ
0-30 31-60 61-90 OVER TOTAl DAYS DAYS DAYS 90 DAYS DATE OF FILING: 7/1/98 $201,899 $146,526 $31,187 $ 5,779 $18,407 Allowance for doubtful accounts - General (21,045) ( ) ( ) ( ) ( ) MONTH: July 1998 $412,005 $333,558 $55,532 $ 9,371 $13,544 Allowance for doubtful accounts - General (21,045) ( ) ( ) ( ) ( ) MONTH: August 1998 $266,224 $128,918 $49,620 $67,842 $19,844 Allowance for doubtful accounts (21,045) ( ) ( ) ( ) ( ) MONTH: September 98 $255,532 $120,380 $55,319 $ 5,500 $74,333 Allowance for doubtful accounts MONTH: October 1998 $232,293 $115,773 $42,387 $ 0 $74,133 Allowance for doubtful accounts (21,045) ( ) ( ) ( ) ( ) MONTH:November 1998 $160,931 $ 49,257 $37,521 $ 0 $74,153 Allowance for doubtful accounts (21,045) ( ) ( ) ( ) ( ) MONTH: Allowance for doubtful accounts ( ) ( ) ( ) ( ) ( )
SCHEDULE OF POST PETITION LIABILITIES FORM OPR-4 REV 7/92 Case Name: MRS Technology, Inc. Month Ended: November 1998 Case Number: 98-44938-0JFQ
DATE DATE TOTAL INCURRED DUE DUE TAXES PAYABLE Federal Income Taxes 0 FICA-Employer's Share 0 FICA-Employer's Share 0 Unemployment Tax 0 State Income Tax 0 State Sales & Use Tax 0 State Tax 0 Personal Property Tax 0 TOTAL TAXES PAYABLE 0 POSTPETITION SECURED DEBT 1,150,089 POSTPETITION UNSECURED DEBT 0 0 ACCRUED INTEREST PAYABLE 0 0 TRADE ACCOUNTS PAYABLE & OTHER: (List Separately*) See attached sheet $129,138 Totals $129,138 *Attach separate page if necessary.
Note: Total postpetition liabilities shown here must agree with the same item as shown on OPR-2 of this report. SCHEDULE OF POST PETITION LIABILITIES FORM OPR-4 REV 7/92 Case Name: MRS Technology, Inc. Month Ended: November 1998 Case Number: 98-44938-JFQ
0-30 31-60 11-90 OVER DAYS DAYS DAYS 90 DAYS TAXES PAYABLE Federal Income Taxes FICA-Employer's Share FICA-Employer's Share Unemployment Tax State Income Tax State Sales & Use Tax State Tax Personal Property Tax TOTAL TAXES PAYABLE POSTPETITION SECURED DEBT POSTPETITION UNSECURED DEBT ACCRUED INTEREST PAYABLE TRADE ACCOUNTS PAYABLE & OTHER: (List Separately*) Totals *Attach separate page if necessary.
Note: Total postpetition liabilities shown here must agree with the same item as shown on OPR-2 of this report.
Schedule of Post Petition Liabilities - Form 4 Trade Accounts Payable & Other Date Amount Vendor 10/20/98 $ 77.73 Allied Electric 10/22/98 73.00 Alpine Precision 10/29/98 73.00 Alpine Precision 11/10/98 26.80 Bell Atlantic Mobile 10/19/98 874.94 First National Bank of Boston 11/12/98 744.80 First National Bank of Boston 11/18/98 121.99 Cable & Wireless 11/13/98 100.00 Chelmsford Water Dept 9/21/98 22,726.10 Cohn & Kelakos 11/21/98 608.37 DFS Acceptance 10/26/98 46.22 Gilway Tech Lamp 11/09/98 157.38 HBS&R Client Trust 8/08/98 162.23 Investor Communications 11/03/98 398.32 Merrimac Tool 11/16/98 148.57 Merrimac Tool 11/03/98 132.54 Merrimac Tool 10/22/98 97.51 Newark Electronics 11/17/98 640.30 Optical Assoc. 11/06/98 123.00 Powell Elec 11/06/98 39.50 Powell Elec 11/12/98 139.80 P&J Precision Machine 9/27/98 702.29 RIA Group 11/24/98 539.58 Reliance Standard 11/24/98 175.00 Wall Street Journal ACCRUALS: 11/30/98 14,209.00 Vacation 11/30/98 66,000.00 Legal 11/30/98 20,000.00 Audit $129,137.97
INCOME STATEMENT FORM OPR-5 REV 7/92 Case Name: MRS Technology, Inc. Month Ended: November 1998 Case Number: 98-44938-JFQ
MONTH MONTH July August NET REVENUE (INCOME) $ 341,679 $ 130,808 COST OF GOODS SOLD Materials 107,334 33,483 Labor-Direct 53,386 54,125 Manufacturing Overhead 109,768 57,663 TOTAL COST OF GOODS SOLD LIABILITIES 270,488 145,271 GROSS PROFIT 71,191 (14,463) Selling and Marketing 17,465 266 General and Administrative 155,931 108,753 Other:Research & Development 16,110 1,967 Other (Income)/Expense (8,224) (4,639) TOTAL OPERATING EXPENSES 181,282 106,347 INCOME BEFORE INTEREST, DEPRECIATION, TAXES, OR EXTRAORDINARY EXPENSES (110,091) (120,810) INTEREST EXPENSE 10,182 20,070 DEPRECIATION 19,000 14,492 INCOME TAX EXPENSE (BENEFIT) 0 0 EXTRAORDINARY INCOME (EXPENSE)* 0 0 NET INCOME (LOSS) (139,273) (155,372) *Requires Footnote
INCOME STATEMENT FORM OPR-5 REV 7/92 Case Name: MRS Technology, Inc. Month Ended: November 1998 Case Number: 98-44938-JFQ
MONTH MONTH September October NET REVENUE (INCOME) $ 131,101 $140,656 COST OF GOODS SOLD Materials 6,944 2,586 Labor-Direct 62,351 53,224 Manufacturing Overhead 188,710 141,697 TOTAL COST OF GOODS SOLD LIABILITIES 258,005 197,507 GROSS PROFIT (126,904) (56,851) Selling and Marketing (5,472) 0 General and Administrative 119,766 77,415 Other:Research & Development 57,905 44,509 Other (Income)/Expense (136,142) (137,615) TOTAL OPERATING EXPENSES 36,057 (15,691) INCOME BEFORE INTEREST, DEPRECIATION, TAXES, OR EXTRAORDINARY EXPENSES (162,961) (41,160) INTEREST EXPENSE 10,012 0 DEPRECIATION 12,743 0 INCOME TAX EXPENSE (BENEFIT) 0 0 EXTRAORDINARY INCOME (EXPENSE)* 0 0 NET INCOME (LOSS) (185,716) (41,160) *Requires Footnote
INCOME STATEMENT FORM OPR-5 REV 7/92 Case Name: MRS Technology, Inc. Month Ended: November 1998 Case Number: 98-44938-JFQ
MONTH FILING TO November DATE NET REVENUE (INCOME) $ 49,277 $ 793,521 COST OF GOODS SOLD Materials 6,999 157,346 Labor-Direct 46,986 270,072 Manufacturing Overhead 50,272 548,110 TOTAL COST OF GOODS SOLD LIABILITIES 104,257 975,528 GROSS PROFIT (54,980) (182,007) Selling and Marketing 0 12,259 General and Administrative 59,769 521,634 Other:Research & Development 57,108 177,599 Other (Income)/Expense 0 (286,620) TOTAL OPERATING EXPENSES 116,877 424,872 INCOME BEFORE INTEREST, DEPRECIATION, TAXES, OR EXTRAORDINARY EXPENSES (171,857) (606,879) INTEREST EXPENSE 8,749 49,013 DEPRECIATION 0 46,235 INCOME TAX EXPENSE (BENEFIT) 0 0 EXTRAORDINARY INCOME (EXPENSE)* 0 0 NET INCOME (LOSS) (180,606) (702,127) *Requires Footnote
STATEMENT OF SOURCES AND USES OF CASH FORM OPR-6 REV 7/92 Case Name: MRS Technology, Inc. Month Ended: November 1998 Case Number: 98-44938-JFQ
MONTH JULY SOURCES OF CASH Income (Loss) From Operations (139,273) Add: Depreciation, Amortization & Other Non-Cash 19,000 CASH GENERATEED FROM OPERATIONS (120,273) Add: Decrease in Assets: Accounts Receivable 0 Inventory 132,515 Prepaid Expenses & Deposits 1,584 Property, Plant & Equipment 0 Other- Uninvoiced Shipments & Other 52,662 Increase in Liabilities Pre-Petition Liabilities 128,851 Post Petition Liabilities 98,018 TOTAL SOURCES OF CASH (A) $293,357 USES OF CASH Increase in Assets: Accounts Receivable $210,105 Inventory Prepaid Expenses & Deposts 0 Property, Plant & Equipment 0 Other 0 Decrease in Liabilities Pre-Petition Liabilities 0 Post Petition Liabilities 0 TOTAL USES OF CASH (B) 210,105 NET SOURCE (USE) OF CASH (A-B=NET) 83,252 CASH - BEGINNING BALANCE (See OPR-1) 129,041 CASH - ENDING BALANCE (See OPR-1) 212,290
STATEMENT OF SOURCES AND USES OF CASH FORM OPR-6 REV 7/92 Case Name: MRS Technology, Inc. Month Ended: November 1998 Case Number: 98-44938-JFQ
MONTH MONTH August September SOURCES OF CASH Income (Loss) From Operations (155,372) $(185,716) Add: Depreciation, Amortization & Other Non-Cash 14,492 28,927 CASH GENERATEED FROM OPERATIONS (140,880) (156,789) Add: Decrease in Assets: Accounts Receivable 145,781 10.691 Inventory 31,526 74,100 Prepaid Expenses & Deposits 1,055 50,066 Property, Plant & Equipment 0 0 Other- Uninvoiced Shipments & Other 145 1,453 Increase in Liabilities Pre-Petition Liabilities 72,137 0 Post Petition Liabilities 0 46,547 TOTAL SOURCES OF CASH (A) $109,764 26,068 USES OF CASH Increase in Assets: Accounts Receivable $ 0 0 Inventory Prepaid Expenses & Deposts Property, Plant & Equipment 0 0 Other 0 0 Decrease in Liabilities Pre-Petition Liabilities 0 (164,621) Post Petition Liabilities (543) 0 TOTAL USES OF CASH (B) (543) (164,621) NET SOURCE (USE) OF CASH (A-B=NET) 109,221 (138,553) CASH - BEGINNING BALANCE (See OPR-1) 212,290 321,509 CASH - ENDING BALANCE (See OPR-1) 321,509 183,089
STATEMENT OF SOURCES AND USES OF CASH FORM OPR-6 REV 7/92 Case Name: MRS Technology, Inc. Month Ended: November 1998 Case Number: 98-44938-JFQ
MONTH MONTH October November SOURCES OF CASH Income (Loss) From Operations $(41,160) $(180,606) Add: Depreciation, Amortization & Other Non-Cash 62,121 480 CASH GENERATEED FROM OPERATIONS 20,961 (180,126) Add: Decrease in Assets: Accounts Receivable 23,239 71,362 Inventory 24,508 45,663 Prepaid Expenses & Deposits 2,134 18,162 Property, Plant & Equipment 0 0 Other- Uninvoiced Shipments & Other 113 82,960 Increase in Liabilities Pre-Petition Liabilities 0 0 Post Petition Liabilities 48,332 64,980 TOTAL SOURCES OF CASH (A) $119,287 103,001 USES OF CASH Increase in Assets: Accounts Receivable $ 0 0 Inventory 0 0 Prepaid Expenses & Deposts 0 0 Property, Plant & Equipment 0 0 Other 0 (31,340) Decrease in Liabilities Pre-Petition Liabilities (23,889) (63,216) Post Petition Liabilities 0 0 TOTAL USES OF CASH (B) (23,889) (94,556) NET SOURCE (USE) OF CASH (A-B=NET) 95,398 8,445 CASH - BEGINNING BALANCE (See OPR-1) 183,089 278,487 CASH - ENDING BALANCE (See OPR-1) 278,487 286,932
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