EX-99 10 exj.txt EXHIBIT J MESH Consololidated Summary Income Statement for Current and YTD vs. Budget
MESC USD Period: Dec-01 currency USD Submitted: 28-AUG-02 09:22:39 ------------------------------------------------------------------------------------------------------------------------------------ --------------Current Period---------- -------------Year to Date------------- Annual Actual Budget Variance Variance % Actual Budget Variance Variance % Budget ------------------------------------------------------------------------------------------------------------------------------------ Demand Charges 987,746.00 0.00 987,746.00 n/m 18,697,053.00 0.00 18,697,053.00 n/m 0.00 Processing Charges 1,796,069.00 0.00 1,796,069.00 n/m 40,716,008.00 0.00 40,716,008.00 n/m 0.00 Biomass Credit 0.00 0.00 0.00 n/m (1,515,010.00) 0.00 1,515,010.00 n/m 0.00 Grid Power Sales 0.00 0.00 0.00 n/m 3,728.00 0.00 3,728.00 n/m 0.00 Compressed Air 34,354.00 0.00 34,354.00 n/m 521,595.00 0.00 521,595.00 n/m 0.00 Ash Disposal Revenue 61,577.00 0.00 61,577.00 n/m 678,811.00 0.00 678,811.00 n/m 0.00 Misc Revenue 0.00 0.00 0.00 n/m 0.00 0.00 0.00 n/m 0.00 Total Revenues 2,879,746.00 0.00 2,879,746.00 n/m 59,102,186.00 0.00 59,102,186.00 n/m 0.00 Purchased Coal 349,003.00 0.00 (349,003.00) n/m 6,366,355.00 0.00 (6,366,355.00) n/m 0.00 Purchased Gas 607,945.00 0.00 (607,945.00) n/m 21,468,219.00 0.00 (21,468,219.00) n/m 0.00 Compressed Air 0.00 0.00 0.00 n/m 0.00 0.00 0.00 n/m 0.00 Hauling Ash 66,444.00 0.00 (66,444.00) n/m 712,865.00 0.00 (712,865.00) n/m 0.00 Total Fuel Expenses 1,023,392.00 0.00 (1,023,392.00) n/m 28,547,440.00 0.00 (28,547,440.00) n/m 0.00 Salaries & Wages 511,465.00 0.00 (511,465.00) n/m 4,194,662.00 0.00 (4,194,662.00) n/m 0.00 Maintenance 1,080,447.00 0.00 (1,080,447.00) n/m 3,882,803.00 0.00 (3,882,803.00) n/m 0.00 Major Maintenance 650.00 0.00 (650.00) n/m 10,270.00 0.00 (10,270.00) n/m 0.00 Insurance 34,104.00 0.00 (34,104.00) n/m 552,269.00 0.00 (552,269.00) n/m 0.00 Training 30.00 0.00 (30.00) n/m 32,771.00 0.00 (32,771.00) n/m 0.00 Operations 248,208.00 0.00 (248,208.00) n/m 2,454,684.00 0.00 (2,454,684.00) n/m 0.00 G&A 4,938,129.00 0.00 (4,938,129.00) n/m 10,101,690.00 0.00 (10,101,690.00) n/m 0.00 Taxes Other than Income 539,236.00 0.00 (539,236.00) n/m 1,118,501.00 0.00 (1,118,501.00) n/m 0.00 Shared Services 16,548.00 0.00 (16,548.00) n/m 189,175.00 0.00 (189,175.00) n/m 0.00 Water & Effluent 9,376.00 0.00 (9,376.00) n/m 66,473.00 0.00 (66,473.00) n/m 0.00 Information Systems 1,065.00 0.00 (1,065.00) n/m 34,801.00 0.00 (34,801.00) n/m 0.00 Total O&M Expenses 7,379,258.00 0.00 (7,379,258.00) n/m 22,638,100.00 0.00 (22,638,100.00) n/m 0.00 EBITDA (5,522,904.00) 0.00 (5,522,904.00) n/m 7,916,646.00 0.00 7,916,646.00 n/m 0.00 Depreciation 1,229,298.00 0.00 (1,229,298.00) n/m 13,495,316.00 0.00 (13,495,316.00) n/m 0.00 Interest Income - Temp Investments (582,086.00) 0.00 582,086.00 n/m (1,065,926.00) 0.00 1,065,926.00 n/m 0.00 Amortization 179,688.00 0.00 (179,688.00) n/m 2,200,046.00 0.00 (2,200,046.00) n/m 0.00 Gain on Sale of Assets 1,582,032.00 0.00 (1,582,032.00) n/m 1,582,032.00 0.00 (1,582,032.00) n/m 0.00 Income (Loss) Before Tax(7,931,836.00) 0.00 (7,931,836.00) n/m (8,294,822.00) 0.00 (8,294,822.00) n/m 0.00 Income Tax Exp (Benefit) 48.00 0.00 (48.00) n/m 25,761.00 0.00 (25,761.00) n/m 0.00 Net Income (Loss) (7,931,884.00) 0.00 (7,931,884.00) n/m (8,320,582.00) 0.00 (8,320,582.00) n/m 0.00 ------------------------------------------------------------------------------------------------------------------------------------
MOBILE ENERGY SERVICES COMPANY, L.L.C. ASSUMPTIONS TO OPERATING CASH REQUIREMENTS FOR PERIOD 8/1/2002 To 12/31/2002 1) Effective Date of the Plan of Reorganization will be December 31, 2002. 2) A fee of $112,500 per quarter will be paid to the new operator under the terms of the proposed contract. These payments will be made in March, June, September and December. 3) Natural gas prices for 2002 fuel costs are based upon projected gas costs for each month in $/MMBtu as shown below: August $ 3.75 September $ 3.75 October $ 3.75 November $ 3.75 December $ 3.75 4) Interest rate on cash balances is assumed for the forecast period to be: 1.50% 5) Confirmation costs consist of the following: Professional fee reserve 1,000,000 Pre-Petition Trade Claims 431,286 ------------- $ 1,431,286 ============= 6) Amounts in the projected O&M costs include the following items in additional to normal O&M costs: Month Item Amount ------------------------------------------------ October Cold Outage Costs $250,000 November Cold Outage Costs 300,000 December Cold Outage Costs 250,000 December Property Tax Payments 550,000 Mobile Energy Services Company, L.L.C. Projected Cash Flows For the Five Months Ending December 31, 2002
Month Ending Month Ending Month Ending Month Ending Month Ending Total 08/31/02 09/30/02 10/31/02 11/30/02 12/31/02 Period -------------------------------------------------------------------------------------------- Beginning Cash Balance MESC $ 12,985,978 $ 13,303,066 $ 13,553,051 $ 13,590,849 $ 13,532,837 $ 12,985,978 MESH 2,209,098 2,209,098 2,209,098 2,209,098 2,209,098 2,209,098 -------------------------------------------------------------------------------------------- Total 15,195,076 15,512,164 15,762,149 15,799,947 15,741,935 15,195,076 Revenues Collected 2,400,000 2,450,000 2,500,000 2,425,000 2,400,000 12,175,000 Interest Income 16,232 16,629 16,941 16,989 16,916 83,707 Other Cash Receipts - Fuel Costs (915,000) (895,000) (920,000) (925,000) (950,000) (4,605,000) O&M Costs (909,144) (1,021,644) (1,184,144) (1,250,000) (1,750,000) (6,114,932) Operating Capex (125,000) (150,000) (175,000) (175,000) (175,000) (800,000) -------------------------------------------------------------------------------------------- Net Cash Flow from Operations 467,088 399,985 237,797 91,989 (458,084) 738,775 Bankruptcy Items Professional fees (150,000) (150,000) (200,000) (150,000) (200,000) (850,000) Confirmation expenses - - - - (1,431,286) (1,431,286) -------------------------------------------------------------------------------------------- Net Cash Flow after Bankruptcy costs 317,088 249,985 37,797 (58,011) (2,089,370) (1,542,511) Reserve for Income Taxes - - - - - - -------------------------------------------------------------------------------------------- Net Cash Flow after Tax 317,088 249,985 37,797 (58,011) (2,089,370) (1,542,511) Ending Cash Balance -------------------------------------------------------------------------------------------- MESC 13,303,066 13,553,051 13,590,849 13,532,837 11,443,467 11,443,467 MESH 2,209,098 2,209,098 2,209,098 2,209,098 2,209,098 2,209,098 -------------------------------------------------------------------------------------------- Total $ 15,512,164 $ 15,762,149 $ 15,799,947 $ 15,741,935 $ 13,652,565 $ 13,652,565 ============================================================================================