EX-99.1 3 a2058536zex-99_1.txt EXHIBIT 99.1 EXHIBIT 99.1 KATHRYN M.S. CATHERWOOD, STATE BAR # 131688 LUCE, FORWARD, HAMILTON & SCRIPPS, LLP 600 WEST BROADWAY, SUITE 2600 SAN DIEGO, CA 92101 Attorney for Debtor-In-Possession UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF CALIFORNIA In Re: CinemaStar Luxury Theaters, Inc., Debtor(s) CASE NUMBER: 01-00110-JM11 CHAPTER 11 DEBTOR-IN-POSSESSION MONTHLY OPERATING REPORT FOR THE MONTH OF: JULY 2001 TO: THE HONORABLE JUDGE MYERS UNITED STATES BANKRUPTCY JUDGE The Debtor-In-Possession hereby files its Monthly Operating Report pursuant to the United States Trustee's Operating and Reporting Requirements for Chapter 11 cases. DATED: August 20, 2001 S/ KATHRYN M.S. CATHERWOOD ------------------------------------ Attorney for Debtor-In-Possession Page 1 of 17 UNITED STATES DEPARTMENT OF JUSTICE OFFICE OF THE UNITED STATES TRUSTEE SOUTHERN DISTRICT OF CALIFORNIA In Re: CinemaStar Luxury Theaters, Inc., Debtor(s) CHAPTER 11 (BUSINESS) CASE NO. 01-00110-JM11 OPERATING REPORT NO. 7 FOR THE MONTH ENDING: JULY 31, 2001 I. CASH RECEIPTS AND DISBURSEMENTS A. (GENERAL ACCOUNT *) 1. TOTAL RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS 8,592,541.44 2. LESS: TOTAL DISBURSEMENTS PER ALL PRIOR GENERAL ACCOUNT REPORTS 8,492,911.22 3. BEGINNING BALANCE 99,630.22 4. RECEIPTS DURING CURRENT PERIOD ACCOUNTS RECEIVABLE - PRE-FILING 0.00 ACCOUNTS RECEIVABLE - POST-FILING 0.00 GENERAL SALES 2,374,017.23 OTHER (SPECIFY) Advanced ticket sales, Mexico mgmnt fees 152,974.45 OTHER ** (SPECIFY) TOTAL RECEIPTS THIS PERIOD 2,526,991.68 5. BALANCE: 2,626,621.90 6. LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD 1,907,896.88 (Total from Page 2) 7. ENDING BALANCE 718,725.02 8. GENERAL ACCOUNT NUMBER 0700494381 DEPOSITORY NAME AND LOCATION Union Bank of California 445 South Figueroa St., Los Angeles, CA 90051
* ALL RECEIPTS MUST BE DEPOSITED INTO THE GENERAL ACCOUNT ** INCLUDE THE RECEIPTS FROM THE SALE OF ANY REAL OR PERSONAL PROPERTY OUT OF THE ORDINARY COURSE OF BUSINESS; ATTACH AN EXHIBIT SPECIFYING WHAT WAS SOLD, TO WHOM, TERMS, AND DATE OF COURT ORDER OR REPORT OF SALE. Page 2 of 17 TOTAL DISBURSEMENTS DURING CURRENT PERIOD (General Account)
DATE # PAYEE PURPOSE AMOUNT CHECKS 07/02/01 16780 Advanced Concession Repairs & Maintenance 150.00 Machines 07/02/01 16781 Armored Transport Security 161.25 07/02/01 16782 Coudures Family Limited Rent 40,321.79 07/02/01 16783 D.C. Electronics Two, Inc. Repairs & Maintenance 215.00 07/02/01 16784 Door Service & Repair Repairs & Maintenance 224.50 07/02/01 16785 Firemaster San Diego Repairs & Maintenance 424.06 Region 07/02/01 16786 Janitorial Maintenance Janitorial 800.00 07/02/01 16787 Max Reynolds Repairs & Maintenance 737.38 07/02/01 16788 Mission Grove Theater Rent 64,443.41 07/02/01 16789 Mission Grove Theater II Rent 32,355.40 07/02/01 16790 Oceanside Mission Mkt Rent 66,947.53 Place 07/02/01 16791 Optimal Integrated Computer supplies/Maint 50.00 Solutions 07/02/01 16792 Pacific Bell Telephone 28.41 07/02/01 16793 Paramount Pictures Film Payable 1,050.00 07/02/01 16794 Plush Appeal, L.L.C. Projection supplies 1,103.60 07/02/01 16795 Printex Business Solutions Printing 295.03 07/02/01 16796 Redevelopment Agency City Rent 82,000.00 of 07/02/01 16797 R & J Fial Enterprises Laundry & Uniforms 38.98 07/02/01 16798 Roberta Lathan Travel 10.00 07/02/01 16799 San Diego Gas & Electric Utilities 9,464.64 07/02/01 16800 Sky Courier Film Transport 36.40 07/02/01 16801 Solomon Friedman Co Op Advertising 200.00 07/02/01 16802 Solveig E. Kelly Travel 16.00 07/02/01 16803 Structural Termite and Repairs & Maintenance 85.00 Pest 07/02/01 16804 United Title Company Rent 4,983.30 07/02/01 16805 Verizon California Telephone 344.03 07/02/01 16806 Vision Svc Plan Emp. Benefits 375.18 07/02/01 16807 Warner Bros Film Payable 400.00 07/02/01 16808 Waxie Sanitary Supply Concessions supplies 6,001.21 07/02/01 16809 Airgas Concessions supplies 87.07 07/02/01 16810 Heritage Foods Concessions supplies 1,902.47 07/05/01 16811 Lions Gate Film Payable 8,232.55 07/05/01 16812 MGM Films Film Payable 3,684.67 07/06/01 16813 Airborne Express Film Transport 127.40 07/06/01 16814 City of Riverside Utilities 165.84 07/06/01 16815 CTSNET Internet Services Computer 274.95 07/06/01 16816 Energi Outside Services 154.50 07/06/01 16817 Hand Dryer Dist. Janitorial supplies 960.00 Page 3 of 17 07/06/01 16818 Max Reynolds Repairs & Maintenance 450.00 07/06/01 16819 National Screen Service Accrued Advertising 29.98 07/06/01 16820 Paramount Pictures Film Payable 603.00 07/06/01 16821 Redevelopment Agency City Rent 12,500.00 of 07/06/01 16822 Reel Source, Inc. Outside Services 175.00 07/06/01 16823 San Diego County Tax Prepaid Prop Tax 8.92 Collector 07/06/01 16824 Staples Credit Plan Office Supplies 459.45 07/06/01 16825 Structural Termite and Repairs & Maintenance 85.00 Pest 07/06/01 16826 United Handicap Assembled Office Supplies 203.18 Prod 07/06/01 16827 Universal Pictures Film Payable 3,313.92 07/06/01 16828 W.K. Graff Co. Repairs & Maintenance 406.16 07/06/01 16829 Heritage Foods Concessions supplies 318.02 07/11/01 16830 MGM Films Film Payable 615.38 07/12/01 16831 Airborne Express Film Transport 728.00 07/12/01 16832 Allen Elrod Travel 658.34 07/12/01 16833 AON Risk Insurance 514.00 07/12/01 16834 Armored Transport Security 905.69 07/12/01 16835 Box Office Magazine Advertising 40.00 07/12/01 16836 Brake Water Transport, Film Transport 1,299.90 Inc. 07/12/01 16837 Chamber of Commerce Dues & Subscriptions 325.00 Riverside 07/12/01 16838 City of Riverside Utilities 16,562.19 07/12/01 16839 County of San Diego Dues & Subscriptions 100.00 07/12/01 16840 Eastern Municipal Water Water, etc. 140.38 07/12/01 16841 Janitorial Maintenance Janitorial 18,620.00 07/12/01 16842 JLA Credit Corporation Trash, etc. 3,260.02 07/12/01 16843 Manulife Financial Emp. Benefits 2,626.10 07/12/01 16844 National Screen Service Accrued Advertising 29.98 07/12/01 16845 North County Times Advertising 1,784.70 07/12/01 16846 Pacific Bell Telephone 1,360.83 07/12/01 16847 Proctor Companies R&M Concessions 94.44 07/12/01 16848 Prudential Emp. Benefits 1,497.21 07/12/01 16849 Reel Source, Inc. Outside Services 175.00 07/12/01 16850 Riverside County Treasurer Prepaid Prop Tax 42,683.56 07/12/01 16851 San Bernardino County Sun Advertising 4,837.54 07/12/01 16852 Structural Termite and Repairs & Maintenance 85.00 Pest 07/12/01 16853 Union Tribune Advertising 956.60 07/12/01 16854 Warner Bros Film Payable 183.12 07/12/01 16855 Waxie Sanitary Supply Concessions supplies 1,254.53 07/12/01 16856 Western Municipal Water Water, etc. 467.79 Dist. 07/12/01 16857 W.K. Graff Co. Repairs & Maintenance 407.50 07/12/01 16858 Kim Zolna Travel 238.77 07/12/01 16859 Airgas Concessions supplies 50.00 Page 4 of 17 07/12/01 16860 Heritage Foods Concessions supplies 1,873.45 07/12/01 16861 CinemaStar Luxury Theaters Petty Cash 695.25 07/12/01 16862 Crown Point Design & Uniforms 512.25 Embroider 07/12/01 16863 The Press Enterprises Co. Advertising 11,899.36 07/12/01 16864 Prudential Emp. Benefits 241.89 07/18/01 16865 Keystone Releasing Film Payable 215.26 07/19/01 16866 Accountants on Call Temporary Services 1,800.00 07/19/01 16867 Airborne Express Film Transport 309.40 07/19/01 16868 American Express Travel 190.79 07/19/01 16869 AON Risk Insurance 11,580.00 07/19/01 16870 Armored Transport Security 36.10 07/19/01 16871 Business Office Equipment 597.70 Communications 07/19/01 16872 Cinema Equipment sales Repairs & Maintenance 590.52 07/19/01 16873 City of Oceanside Trash, etc. 1,852.75 07/19/01 16874 City of San Bernardino Trash, etc. 1,421.91 07/19/01 16875 Continental Stock Transfer Outside Services 553.47 07/19/01 16876 James C. Cowan Security Services 129.00 07/19/01 16877 Crown Point Design & Uniforms 337.61 Embroider 07/19/01 16878 CR&R Inc. Utilities 1,288.78 07/19/01 16879 Inland Lighting Supplies, Repairs & Maintenance 829.52 Inc. 07/19/01 16880 JSA Publishing Advertising 400.00 Consultants Inc. 07/19/01 16881 Kombiz Lavasany Travel 113.03 07/19/01 16882 Los Angeles Times Dues & Subscriptions 48.00 07/19/01 16883 Manulife Financial Emp. Benefits 3,242.88 07/19/01 16884 McCann-Erickson, Inc. Film payable 138.30 07/19/01 16885 McCormack Auction Co. Inc. Equip Storage 800.00 07/19/01 16886 Monster.Com Advertising 295.00 07/19/01 16887 North County Times Advertising 2,528.62 07/19/01 16888 Otis Spunkmeyer, Inc. Concession Cost 293.00 07/19/01 16889 Pacific Bell Telephone 369.90 07/19/01 16890 Pure Flo Water Water, etc. 31.63 07/19/01 16891 Quiel Bros. Sign Co., Inc. Advertising 610.48 07/19/01 16892 R & J Fial Enterprises Janitorial Contract 71.12 07/19/01 16893 Schult Industries Inc. Operating Supplies 426.76 07/19/01 16894 Scott Slotkin Other Advertising 148.56 07/19/01 16895 Southern California Edison Utilities 35,160.12 07/19/01 16896 Structural Termite and Repairs & Maintenance 85.00 Pest 07/19/01 16897 Verizon California Telephone 590.30 07/19/01 16898 Warner Bros Film Payable 738.25 07/19/01 16899 Heritage Foods Concessions supplies 1,123.86 07/19/01 16900 California Choice Benefit Emp. Benefits 7,236.29 Admin Page 5 of 17 07/19/01 16901 The Guardian Advertising 1,253.97 07/25/01 16902 Airborne Express Film Transport 200.20 07/25/01 16903 E. Alejandre Tuition Reimb. 332.30 07/25/01 16904 AON Risk Insurance 514.00 07/25/01 16905 Dreamworks Distribution Film Payable 8,119.31 07/25/01 16906 Firemaster San Diego Repairs & Maintenance 189.72 Region 07/25/01 16907 V. Johnson Travel 53.87 07/25/01 16908 Optimal Integrated Computer supplies/Maint 50.00 Solutions 07/25/01 16909 R.E. Ross Repairs & Maintenance 428.46 07/25/01 16910 R. & J. Fial Repairs & Maintenance 48.70 07/25/01 16911 Schult Industries Inc. Operating Supplies 375.00 07/25/01 16912 Solomon Friedman Co Op Advertising 100.00 07/25/01 16913 Staples Credit Plan Office Supplies 189.21 07/25/01 16914 Star Trak Video Game COS 3,194.20 07/25/01 16915 Structural Termite and Repairs & Maintenance 255.00 Pest 07/25/01 16916 Treasurer - Tax Collector Property Tax 55,206.93 07/25/01 16917 Roy M. Van Asch Janitorial 1,875.80 07/25/01 16918 Warner Bros Film Payable 700.00 07/25/01 16919 Waxie Sanitary Supply Janitorial supplies 8,387.25 07/25/01 16920 Proctor Companies R&M Concessions 299.62 07/25/01 16921 Staples Credit Plan Office Supplies 266.47 623,351.87 WIRE TRANSFERS 07/05/01 326 20th Century Fox Film Payable 2,315.20 07/05/01 327 Buena Vista Film Payable 55,785.67 07/05/01 328 Dream Works Distribution, Film Payable 21,935.08 LLC 07/05/01 329 Paramount Pictures Film Payable 100,405.18 07/05/01 330 Universal Film Exchanges Film Payable 2,678.38 07/05/01 331 Warner Brothers Film Payable 5,763.83 07/06/01 332 Pepsi-Cola Company Concession supplies 6,910.52 07/06/01 333 Metropolitan Provision Concession supplies 13,851.22 07/09/01 334 Sony Pictures Film Payable 65,000.00 06/30/01 335 June payment - Sony Film Payable - Pictures 07/11/01 336 20th Century Fox Film Payable 56,983.55 07/11/01 337 Buena Vista Film Payable 23,132.84 07/11/01 338 Dream Works Distribution, Film Payable 11,128.94 LLC 07/11/01 339 Paramount Pictures Film Payable 27,096.83 07/11/01 340 Universal Film Exchanges Film Payable 96,508.13 07/11/01 341 Warner Brothers Film Payable 45,690.41 07/12/01 342 Pepsi-Cola Company Concession supplies 8,055.51 07/12/01 343 Metropolitan Provision Concession supplies 19,391.37 07/17/01 344 Sony Pictures Film Payable 90,000.00 07/18/01 345 20th Century Fox Film Payable 32,614.28 Page 6 of 17 07/18/01 346 Buena Vista Film Payable 24,888.34 07/18/01 347 Dream Works Distribution, Film Payable 7,230.48 LLC 07/18/01 348 Paramount Pictures Film Payable 15,502.10 07/18/01 349 Universal Film Exchanges Film Payable 42,794.48 07/18/01 350 Warner Brothers Film Payable 72,516.61 07/19/01 351 Pepsi-Cola Company Concession supplies 6,035.67 07/19/01 352 Metropolitan Provision Concession supplies 15,333.50 07/25/01 353 Buena Vista Film Payable 10,088.23 07/25/01 354 Dreamworks Film Payable 2,991.71 07/25/01 355 Fox Film Payable 39,982.52 07/25/01 356 Miramax Film Payable 54,048.05 07/25/01 357 Paramount Film Payable 4,121.26 07/25/01 358 Universal Film Payable 16,694.33 07/25/01 359 Warner Bros. Film Payable 22,180.33 07/26/01 360 Pepsi-Cola Company Concession supplies 9,475.20 07/26/01 361 Metropolitan Provision Concession supplies 12,898.08 1,042,027.83 DIRECT DEBITS TO UNION BANK OF CALIFORNIA ACCT # 0700494381 07/02/01 UBOC transfer (Principal + Interest) 51,186.58 07/06/01 ADP fees 53.76 07/13/01 ADP fees 583.89 07/25/01 Postage Online 300.00 07/25/01 Bank Fees 1,552.54 07/27/01 Wire Sales Tax Payment 11,665.00 07/27/01 ADP fees 745.46 07/31/01 UBOC transfer (Principal + Interest) 50,153.43 07/31/01 Bank Fees 6,050.45 Checked 16529 voided -203.18 122,087.93 DISBURSEMENTS FOR CINEMAS 07/13/01 11621 429.25 429.25 INTERCOMPANY TRANSFERS 07/18/01 To UBOC Acct. # Payroll 120,000.00 07007494365 120,000.00 TOTAL ACCOUNTS PAYABLE DISBURSEMENTS 1,907,896.88
Page 7 of 17 I. CASH RECEIPTS AND DISBURSEMENTS (Continued) B. (PAYROLL ACCOUNT) 1. TOTAL RECEIPTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS 1,285,535.93 2. LESS: TOTAL DISBURSEMENTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS 1,225,554.20 3. BEGINNING BALANCE 59,981.73 4. RECEIPTS DURING CURRENT PERIOD 120,000.00 TRANSFERRED FROM GENERAL ACCOUNT 5. BALANCE: 179,981.73 6. LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD 232,670.43 7. ENDING BALANCE (52,668.70) 8. PAYROLL ACCOUNT NUMBER 07007494365 DEPOSITORY NAME AND LOCATION Union Bank of California 445 South Figueroa St., Los Angeles, CA 90051
Page 8 of 17 TOTAL DISBURSEMENTS DURING CURRENT PERIOD (Payroll Account) JULY 6, 2001 PAYROLL RUN - SUMMARY OF EXPENSE Wages Earned - Normal Recurring 78,656.06 Wages Earned - Adjustments & Voids 1,722.76 Wage Garnishments 27.23 Federal IncomeTaxes 10,122.46 Social Security 12,718.44 Medicare 2,974.41 State Unemployment Taxes - Employer 1,847.94 Federal Unemployment Taxes 476.89 State Unemployment Taxes - Employee 881.49 State Income Taxes 1,616.88 111,044.56 JULY 6, 2001 PAYROLL RUN - SUMMARY OF DISBURSEMENTS ADP Checks Issued [Net salary plus tax] 110,914.22 Manual Checks, etc. 130.34 111,044.56 JULY 20, 2001 PAYROLL RUN - SUMMARY OF EXPENSE Wages Earned - Normal Recurring 83,523.31 Wages Earned - Adjustments & Voids 2,556.46 Wage Garnishments 27.23 Federal IncomeTaxes 11,617.13 Social Security 13,864.88 Medicare 3,242.69 State Unemployment Taxes - Employer 1,911.57 Federal Unemployment Taxes 493.31 State Unemployment Taxes - Employee 961.13 State Income Taxes 2,045.05 120,242.76 JULY 20, 2001 PAYROLL RUN - SUMMARY OF DISBURSEMENTS ADP Checks Issued [Net salary plus tax] 116,710.31 Manual Checks Issued 3,532.45 120,242.76 JULY 6, 2001 ADP Processing Fees 53.76 JULY 6, 2001 ADP Processing Fees 583.89 JULY 27, 2001 ADP Processing Fees 745.46 TOTAL PAYROLL ACCOUNT DISBURSEMENTS 232,670.43
Page 9 of 17 I. CASH RECEIPTS AND DISBURSEMENTS (Continued) B. (TAX ACCOUNT) 1. TOTAL RECEIPTS PER ALL PRIOR TAX ACCOUNT REPORTS 98,000.00 2. LESS: TOTAL DISBURSEMENTS PER ALL PRIOR TAX ACCOUNT REPORTS 70,765.29 3. BEGINNING BALANCE 27,234.71 4. RECEIPTS DURING CURRENT PERIOD TRANSFERRED FROM GENERAL ACCOUNT 0.00 5. BALANCE: 27,234.71 6. LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD Date: 7/20/01, wire transfer, To: CA State Board of Equalization 11,665.00 TOTAL DISBURSEMENTS THIS PERIOD 11,665.00 7. ENDING BALANCE 15,569.71 8. TAX ACCOUNT NUMBER 02180038712 DEPOSITORY NAME AND LOCATION Union Bank of California 445 South Figueroa St., Los Angeles, CA 90051
D. SUMMARY SCHEDULE OF CASH ENDING BALANCE FOR PERIOD GENERAL ACCOUNT 718,725.02 PAYROLL ACCOUNT (52,688.70) TAX ACCOUNT 15,569.71 OTHER ACCOUNTS *: 2,615,511.95 OTHER MONIES *: 0.00 PETTY CASH ** 0.00 TOTAL CASH AVAILABLE 3,297,117.98
* SPECIFY THE FUND AND THE TYPE OF HOLDING (I.E., CD, SAVINGS ACCOUNT, INVESTMENT SECURITIES, ETC.) AND THE DEPOSITORY NAME, LOCATION, AND ACCOUNT NUMBER ** ATTACH EXHIBIT ITEMIZING ALL PETTY CASH TRANSACTIONS NOTE: ATTACH COPIES OF ALL MONTHLY ACCOUNTS FROM FINANCIAL INSTITUTIONS FOR EACH ACCOUNT Page 10 of 17 OTHER ACCOUNTS (SUPPLEMENT TO SCHEDULE I.D.)
BANK / ACCOUNT TYPE Account # Balance ================================================================ ===================== ====================== BANK OF AMERICA Master Concentration 14501-09188 0.00 Merchant 14501-09189 0.00 Moviefone 14502-09192 0.00 UNION BANK OF CALIFORNIA Master Concentration 0700494-349 2,437,665.47 FOB Cinemastar Luxury Cinemas, Inc. 0700494-373 2,104.46 Merchant 0700494-357 175,742.02 Moviefone 0700494-146 0.00 Total 2,615,511.95
Page 11 of 17 II. STATUS OF PAYMENTS TO SECURED CREDITORS, LESSORS, AND OTHER PARTIES TO EXECUTORY CONTRACTS
CREDITOR, LESSOR, ETC. FREQUENCY OF PAYMENTS AMOUNT OF PAYMENT POST-PETITION TOTAL DUE (Mo./Qtr.) PAYMENTS NOT MADE (NUMBER) --------------------------------------------------------------------------------------------------------------------- Oceanside Mission Market Monthly $57,678.10 0 $0.00 Place (Lessor MM 13 Theater) Coudres Family Ptrship Monthly $35,740.55 0 $0.00 (Lessor PR 10 Theater) MDA - San Bernardino Monthly $96,851.61 0 $0.00 (Lessor SB20 Thtr) Mission Grove Theater Monthly $89,050.40 0 $0.00 Properties I&II (Lessor MG 18 Theater) United Title Company Monthly $4,983.40 0 $0.00 (Lessor - Corp Offices) Union Bank of California Monthly $57,472.22 0 $0.00 ($2,000,000 loan, principal and interest) Midland Loan Services Monthly $17,646.36 7 $17,646.36 (Mortgage Note on Chula Vista Property)
III. TAX LIABILITIES FOR THE REPORTING PERIOD: GROSS SALES SUBJECT TO SALES TAX 300,394.07 TOTAL WAGES PAID 231,287.32
TOTAL POST-PETITION AMOUNT DELINQUENT DATE DELINQUENT AMOUNTS OWING AMOUNT DUE ======================================= ======================= ====================== ====================== FEDERAL WITHHOLDING STATE WITHHOLDING FICA-EMPLOYER'S SHARE FICA - EMPLOYEE'S SHARE FEDERAL UNEMPLOYMENT STATE WITHHOLDING SALES AND USE 22,529.58 0.00 REAL PROPERTY 17,445.59 17,445.59 4/10/01 OTHER (SPECIFY) TOTAL 39,975.17 17,445.59
Page 12 of 17 IV. AGING OF ACCOUNTS PAYABLE AND ACCOUNTS RECEIVABLE
ACCOUNTS PAYABLE * ACCOUNTS RECEIVABLE (POST-PETITION ONLY) Pre-Petition Post-Petition ============================ =============================== ======================== ======================= 30 days or less 97,332.39 31-60 days 575.72 61-90 days 91-120 days Over 120 days TOTALS: 97,908.11
V. INSURANCE COVERAGE
NAME OF CARRIER AMOUNT OF COVERAGE POLICY EXPIRATION PREMIUM PAID DATE THROUGH: ======================= ===================== ==================== ===================== ==================== General Liability Royal Insurance of $2,000,000 10/14/01 8/14/01 America Umbrella Liability St. Paul's $10,000,000 10/14/01 8/14/01 Insurance Company Automobile Liability Royal Insurance of $1,000,000 10/14/01 8/14/01 America Directors & Officers National Union Fire $5,000,000 6/20/01 8/31/01 Liability Insurance Company Workers Compensation State (of CA) Variable n/a 7/31/01 Compensation Insurance Fund Property Royal Insurance of $35,212,960 10/14/01 8/14/01 America Vacant Property Royal Indemnity $1,500,000 12/14/01 8/14/01 Company Foreign Package ACE USA $1,000,000 10/15/01 8/14/01
VI. UNITED STATES TRUSTEE QUARTERLY FEES (TOTAL PAYMENTS)
Qtrly Period Total Qtrly Fees Date Paid Amount Paid Qtrly Fee Still Ending Disbursements Owing 3/31/01 3,552,815.00 8,000.00 5/17/01 8,000.00 0.00 6/30/01 4,473,768.00 8,000.00 7/11/01 8,000.00 0.00
* POST-PETITION ACCOUNTS PAYABLE SHOULD NOT INCLUDE PROFESSIONALS' FEES AND EXPENSES WHICH HAVE BEEN INCURRED BUT NOT YET AWARDED BY THE COURT. POST-PETITION ACCOUNTS PAYABLE SHOULD INCLUDE PROFESSIONALS' FEES AND EXPENSES AUTHORIZED BY COURT ORDER BUT WHICH REMAIN UNPAID AS OF THE CLOSE OF THE PERIOD OF THE REPORT. Page 13 of 17 VII. PROFIT AND LOSS STATEMENT (ACCRUAL BASIS ONLY)
CUMULATIVE CURRENT MONTH POST-PETITION Admission Revenue 1,685,305 7,735,352 Concession Revenue 671,572 3,058,214 Video Revenue 34,506 153,767 Screen Advertising 10,366 61,557 Other Revenues 1,903 19,500 ------------------------------------------------------------------------------------------------- Theater Revenue 2,403,652 11,028,390 Film Rental Expense 856,324 4,056,692 Concession COGS 93,778 434,224 ------------------------------------------------------------------------------------------------- Theater Cost of Goods Sold 950,101 4,490,917 ------------------------------------------------------------------------------------------------- Theater Gross Margin 1,453,550 6,537,473 ------------------------------------------------------------------------------------------------- Salaries 189,809 999,373 Payroll Taxes 19,477 108,907 Rent Expense 268,111 1,997,015 CAM Expense 31,257 220,982 Utility Expense 80,718 445,100 Advertising Expense 18,900 139,422 Co-op Advertising Expense 11,017 50,669 Repairs & Maint Expense 8,604 81,940 Janitorial Services 23,541 155,287 Janitorial Supplies Expense 10,553 48,581 Insurance Expense 21,288 132,990 Property Taxes 9,409 177,435 Security Expense 3,840 28,165 Travel & Entertainment 410 2,998 Vehicle Expense 0 0 Supplies Expense 6,779 56,894 Banking Fees 7,629 50,225 Equipment Rental Expense 3,325 10,557 Outside Services Expense 0 7 Other Theater Expense 1,061 48,095 Pre-Opening Expense 0 0 ------------------------------------------------------------------------------------------------- Theater Operating Expenses 715,726 4,754,640 ------------------------------------------------------------------------------------------------- Operating Income 737,824 1,782,833 ------------------------------------------------------------------------------------------------- General & Administrative Expenses 52,767 541,661 Deprec & Amortization 209,927 1,504,639 Interest Expense 42,955 324,397 Interest/Dividend Income (0) (16,913) Taxes 482 3,371 Non-Recurring Income/Expense 800 607,968 ------------------------------------------------------------------------------------------------- Non-Operating (Income)/Expense 306,932 2,965,123 ------------------------------------------------------------------------------------------------- Net Income 430,892 (1,182,289) =================================================================================================
Page 14 of 17 VIII. BALANCE SHEET (ACCRUAL BASIS ONLY)
CURRENT MONTH END Cash 2,746,658 Accts Receivable 4,525 Conc Inventory 50,902 Concession Rebates 7,290 Supplies Inventory 9,777 Prepaids 608,453 ---------------------------------------------------------------------------------------- Current Assets 3,427,606 Fixed Assets 23,296,346 Accumulated Depreciation (13,596,711) ---------------------------------------------------------------------------------------- Net Fixed Assets 9,699,635 Deposits-Leases 43,789 Deposits-Concession 1,165 Deposits 200 Investment CLT SA de CV 22,875 Investment in Mexico 339,643 Goodwill - Mexico (148,219) ---------------------------------------------------------------------------------------- Other Assets 259,453 ---------------------------------------------------------------------------------------- Assets 13,386,694 ======================================================================================== Accounts Payable 2,351,339 Accrued Payroll 314,078 Other Accruals 775,909 Deferred Revenue 479,696 Concession Advances 3,705 Short Term Notes Payable 0 ---------------------------------------------------------------------------------------- Current Liabilities 3,924,727 Capital Leases (10,401) Credit Facility Debt 1,975,000 Notes Payable 1,717,721 ---------------------------------------------------------------------------------------- Debt and Capital Leases 3,682,321 Deferred Rent Accrual 4,212,379 Intercompany Accounts 2,201,449 ---------------------------------------------------------------------------------------- Long-Term Liabilities 6,413,828 Common Stock 62,892 Additional Paid In Capital 29,642,292 Treasury Stock 0 Retained Earnings (26,278,047) Current Year Retained Earnings (4,061,318) Current Year Dividends 0 ---------------------------------------------------------------------------------------- Shareholders' Equity (634,181) ---------------------------------------------------------------------------------------- Liabilities & Equity 13,386,694 ========================================================================================
Page 15 of 17 STATEMENT OF CASH FLOWS (Supplement to Balance Sheet)
CURRENT MONTH CASH FLOW FROM OPERATIONS Net Income / (Loss) 430,892 Depreciation & Amortization 209,927 Non-Cash Loss on Sale of Equipment 0 Deferred Rent 13,950 Changes in Operating Assets & Liabilities: Change in Current Assets (237,976) Change in Other Assets (175) Change in Accounts Payable 9,420 Change in Other Liabilities 93,793 ------------------------------------------------------------------------------------------------ Net Cash Provided By / (Used In) Operations 519,832 CASH FLOW FROM INVESTING ACTIVITIES Purchase of Property (598) Sale of Property 0 ------------------------------------------------------------------------------------------------ Net Cash Provided By / (Used In) Investing Activities (598) CASH FLOW FROM FINANCING ACTIVITIES Payment of Debt & Capital Lease Obligations (35,000) Proceeds from Debt Issuance / Drawdown 0 Proceeds from Issuance of Common Stock 0 ------------------------------------------------------------------------------------------------ Net Cash Provided By / (Used In) Financing Activities (35,000) ------------------------------------------------------------------------------------------------ Net Increase / (Decrease) in Cash 484,234 ------------------------------------------------------------------------------------------------ Beginning of Period Cash Balance 2,262,424 ------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------ End of Period Cash Balance 2,746,658 ================================================================================================
Page 16 of 17 IX. QUESTIONNAIRE 1. Has the debtor-in-possession made any payments on its pre-petition unsecured debt, except as has been authorized by the court? No X Yes Explain: 2. Has the debtor-in-possession during this reporting period provided compensation or remuneration to any officers, directors, principals or other insiders without appropriate authorization? No X Yes Amount, to whom, and for what period: 3. State what progress was made during the reporting period toward filing a plan of reorganization: The second amended plan of reorganization and first amended disclosure statement was filed July 31, 2001. A confirmation hearing has been scheduled for September 12, 2001. 4. Describe potential future events which may have a significant impact on the case. 5. Attach copies of all Orders granting relief from the automatic stay that were entered during the reporting period. 6. Did you receive any exempt income this month, which is not set forth in the operating report? No X Yes If yes, please set forth the amounts and the source of the income. I, DONALD H. HARNOIS, JR., CHIEF FINANCIAL OFFICER, declare under penalty of perjury that I have fully read and understood the foregoing debtor-in-possession operating report and that the information contained herein is true and complete to the best of my knowledge. DATE: AUGUST 20, 2001 S/ DONALD H. HARNOIS, JR. -------------------------- Principal for debtor-in-possession