-----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, KdzLwQZ9VW7hiogDo61dafdAqio5GMIGRGAzw2yjhor5Rd5jfDrlWu2SBPXCIXCl tWw012i/hCElr3FLX0DeXw== 0000912057-01-508442.txt : 20010416 0000912057-01-508442.hdr.sgml : 20010416 ACCESSION NUMBER: 0000912057-01-508442 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 20010320 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010412 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KITTY HAWK INC CENTRAL INDEX KEY: 0000932110 STANDARD INDUSTRIAL CLASSIFICATION: AIR TRANSPORTATION, NONSCHEDULED [4522] IRS NUMBER: 752564006 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-25202 FILM NUMBER: 1601699 BUSINESS ADDRESS: STREET 1: P O BOX 612787 STREET 2: 1515 W 20TH ST CITY: DALLAS/FORT WORTH IN STATE: TX ZIP: 75261 BUSINESS PHONE: 2144562220 MAIL ADDRESS: STREET 1: P O BOX 612787 CITY: DALLAS/FORT WORTH IN STATE: TX ZIP: 75261 8-K 1 a2043092z8-k.txt 8-K 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): March 20, 2001 KITTY HAWK, INC. (Exact name of registrant as specified in charter) Delaware 0-25202 75-2564006 (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.) 1515 West 20th Street P.O. Box 612787 Dallas/Fort Worth International Airport, Texas 75261 (Address of principal (Zip Code) executive offices) Registrant's telephone number, including area code: (972) 456-2200 Not Applicable (Former name or former address, if changed since last report) ITEM 5. OTHER EVENTS. Kitty Hawk, Inc. (the "Company") is filing herewith the Monthly Operating Reports of Debtors and Debtors in Possession for the period ended February 28, 2001 that the Company filed with the United States Bankruptcy Court for the Northern District of Texas, Fort Worth Division on March 20, 2001 in connection with the Company's and its subsidiaries' ongoing proceedings under Chapter 11 of the United States Bankruptcy Code (11 U.S.C. Sections 101-1330), Case No. 400-42069-BJH and Case Nos. 400-42141 through Case Nos. 400-42149, jointly administered under Case No. 400-42141-BJH. THE MONTHLY OPERATING REPORTS FILED HEREWITH CONTAIN UNAUDITED FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION THAT ARE SUBJECT TO FUTURE RECONCILIATIONS AND ADJUSTMENTS, INCLUDING SIGNIFICANT WRITE-DOWNS OF ASSET VALUES, WHICH THE COMPANY ANTICIPATES WOULD RESULT IN A DEFICIT IN THE COMPANY'S STOCKHOLDERS' EQUITY. ITEM 7. EXHIBITS. (c) Exhibits 99.1 Monthly Operating Report for Kitty Hawk, Inc. for the Period Ended February 28, 2001 (1) 99.2 Monthly Operating Report for Kitty Hawk Aircargo, Inc. for the Period Ended February 28, 2001 (1) 99.3 Monthly Operating Report for Kitty Hawk Charters, Inc. for the Period Ended February 28, 2001 (1) 99.4 Monthly Operating Report for Kitty Hawk International, Inc. for the Period Ended February 28, 2001 (1) 99.5 Monthly Operating Report for Kitty Hawk Cargo, Inc. for the Period Ended February 28, 2001 (1) 99.6 Monthly Operating Report for O.K. Turbines, Inc. for the Period Ended February 28, 2001 (1) 99.7 Monthly Operating Report for Longhorn Solutions, Inc. for the Period Ended February 28, 2001 (1) 99.8 Monthly Operating Report for Aircraft Leasing, Inc. for the Period Ended February 28, 2001 (1) 99.9 Monthly Operating Report for American International Travel, Inc. for the Period Ended February 28, 2001 (1) 99.10 Monthly Operating Report for Flight One Logistics, Inc. for the Period Ended February 28, 2001 (1) ---------------------- (1) The Company agrees to furnish supplementally a copy of any omitted schedule or similar attachment to the Commission upon its request. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. KITTY HAWK, INC. Date: April 12, 2001 By: /s/ Tilmon J. Reeves --------------------------------- Name: Tilmon J. Reeves Title: Chairman of the Board and Chief Executive Officer EXHIBIT INDEX Exhibit Number Description - ------ ----------- 99.1 Monthly Operating Report for Kitty Hawk, Inc. for the Period Ended February 28, 2001 99.2 Monthly Operating Report for Kitty Hawk Aircargo, Inc. for the Period Ended February 28, 2001 99.3 Monthly Operating Report for Kitty Hawk Charters, Inc. for the Period Ended February 28, 2001 99.4 Monthly Operating Report for Kitty Hawk International, Inc. for the Period Ended February 28, 2001 99.5 Monthly Operating Report for Kitty Hawk Cargo, Inc. for the Period Ended February 28, 2001 99.6 Monthly Operating Report for OK Turbines, Inc. for the Period Ended February 28, 2001 99.7 Monthly Operating Report for Longhorn Solutions, Inc. for the Period Ended February 28, 2001 99.8 Monthly Operating Report for Aircraft Leasing, Inc. for the Period Ended February 28, 2001 99.9 Monthly Operating Report for American International Travel, Inc. for the Period Ended February 28, 2001 99.10 Monthly Operating Report for Flight One Logistics, Inc. for the Period Ended February 28, 2001 EX-99.1 2 a2043092zex-99_1.txt EX-99.1 EXHIBIT 99.1 MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK, INC. ACCRUAL BASIS CASE NUMBER: 400-42141-BJH 02/13/95, RWD, 2/96 JUDGE: BARBARA J. HOUSER UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF TEXAS SIXTH DIVISION MONTHLY OPERATING REPORT MONTH ENDING: FEBRUARY 28, 2001 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/ DREW KEITH Chief Financial Officer ------------------------------------------- ------------------------ ORIGINAL SIGNATURE OF RESPONSIBLE PARTY TITLE Drew Keith 3/20/2001 ------------------------------------------- ------------------------ PRINTED NAME OF RESPONSIBLE PARTY DATE PREPARER: /s/ JESSICA L. WILSON Chief Accounting Officer ------------------------------------------- ------------------------ ORIGINAL SIGNATURE OF PREPARER TITLE Jessica L. Wilson 3/20/2001 ------------------------------------------- ------------------------ PRINTED NAME OF PREPARER DATE MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK, INC. ACCRUAL BASIS-1 CASE NUMBER: 400-42141-BJH 02/13/95, RWD, 2/96 COMPARATIVE BALANCE SHEET
SCHEDULE MONTH MONTH MONTH ASSETS AMOUNT January 2001 February 2001 ---------------------------------------------------------------------------------------------------------------------------- 1. UNRESTRICTED CASH $13,401,586 $31,545,131 $34,210,430 $0 2. RESTRICTED CASH $0 $0 $0 3. TOTAL CASH $13,401,586 $31,545,131 $34,210,430 $0 ---------------------------------------------------------------------------------------------------------------------------- 4. ACCOUNTS RECEIVABLE (NET) ($12,639,451) ($12,720,253) $0 5. INVENTORY ($1,016,667) ($1,016,667) $0 6. NOTES RECEIVABLE $15,000 $15,000 $15,000 $0 7. PREPAID EXPENSES $356,632 $447,667 $0 8. OTHER (ATTACH LIST) $422,186,692 $353,355,798 $349,988,037 $0 9. TOTAL CURRENT ASSETS $435,603,278 $371,616,443 $370,924,214 $0 ---------------------------------------------------------------------------------------------------------------------------- 10. PROPERTY, PLANT & EQUIPMENT $2,425,652 $6,076,562 $6,083,445 $0 11. LESS: ACCUMULATED DEPRECIATION / DEPLETION $2,017,973 $2,096,245 $0 12. NET PROPERTY, PLANT & EQUIPMENT $2,425,652 $4,058,589 $3,987,200 $0 ---------------------------------------------------------------------------------------------------------------------------- 13. DUE FROM INSIDERS $62,465 $219,367 $219,367 $0 14. OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) $10,967,208 $9,791,021 $9,720,420 $0 15. OTHER (ATTACH LIST) $138,370,015 $138,370,015 $138,370,015 $0 ---------------------------------------------------------------------------------------------------------------------------- 16. TOTAL ASSETS $587,428,618 $524,055,435 $523,221,216 $0 ============================================================================================================================ POSTPETITION LIABILITIES 17. ACCOUNTS PAYABLE $3,112 ($180,111) $0 18. TAXES PAYABLE $0 $0 $0 19. NOTES PAYABLE $0 $0 $0 20. PROFESSIONAL FEES $782,236 $1,289,912 $0 21. SECURED DEBT $0 $0 $0 22. OTHER (ATTACH LIST) $2,923,280 $2,730,846 $0 ---------------------------------------------------------------------------------------------------------------------------- 23. TOTAL POSTPETITION LIABILITIES $3,708,628 $3,840,647 $0 ============================================================================================================================ PREPETITION LIABILITIES 24. SECURED DEBT $466,119,468 $390,493,178 $389,840,761 $0 25. PRIORITY DEBT $29,661 $0 $0 $0 26. UNSECURED DEBT $22,580,547 $2,232,268 $2,232,268 $0 27. OTHER (ATTACH LIST) $0 $29,163,394 $28,849,573 $0 28. TOTAL PREPETITION LIABILITIES $488,729,676 $421,888,840 $420,922,602 $0 ---------------------------------------------------------------------------------------------------------------------------- 29. TOTAL LIABILITIES $488,729,676 $425,597,468 $424,763,249 $0 ============================================================================================================================ EQUITY 30. PREPETITION OWNERS' EQUITY $98,457,967 $98,457,967 $0 31. POSTPETITION CUMULATIVE PROFIT OR (LOSS) $0 $0 $0 32. DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) 33. TOTAL EQUITY $0 $98,457,967 $98,457,967 $0 ---------------------------------------------------------------------------------------------------------------------------- 34. TOTAL LIABILITIES & OWNERS' EQUITY $488,729,676 $524,055,435 $523,221,216 $0 ============================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK, INC. ACCRUAL BASIS-2 CASE NUMBER: 400-42141-BJH 02/13/95, RWD, 2/96 INCOME STATEMENT
MONTH MONTH MONTH QUARTER REVENUES January 2001 February 2001 TOTAL ---------------------------------------------------------------------------------------------------------------------------- 1. GROSS REVENUES $0 $0 $0 $0 2. LESS: RETURNS & DISCOUNTS $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------------------------- 3. NET REVENUE $0 $0 $0 $0 ============================================================================================================================ COST OF GOODS SOLD 4. MATERIAL $0 $0 $0 $0 5. DIRECT LABOR $0 $0 $0 $0 6. DIRECT OVERHEAD $0 $0 $0 $0 7. TOTAL COST OF GOODS SOLD $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------------------------- 8. GROSS PROFIT $0 $0 $0 $0 ============================================================================================================================ OPERATING EXPENSES 9. OFFICER / INSIDER COMPENSATION $107,083 $107,083 $0 $214,166 10. SELLING & MARKETING $0 $0 $0 $0 11. GENERAL & ADMINISTRATIVE ($1,639,921) ($667,349) $0 ($2,307,270) 12. RENT & LEASE $41,080 $31,248 $0 $72,328 13. OTHER (ATTACH LIST) $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------------------------- 14. TOTAL OPERATING EXPENSES ($1,491,758) ($529,018) $0 ($2,020,776) ---------------------------------------------------------------------------------------------------------------------------- 15. INCOME BEFORE NON-OPERATING INCOME & EXPENSE $1,491,758 $529,018 $0 $2,020,776 ============================================================================================================================ OTHER INCOME & EXPENSES 16. NON-OPERATING INCOME (ATT. LIST) ($144,773) ($205,267) $0 ($350,040) 17. NON-OPERATING EXPENSE (ATT. LIST) $0 $0 $0 $0 18. INTEREST EXPENSE $0 $0 $0 $0 19. DEPRECIATION / DEPLETION $78,270 $78,270 $0 $156,540 20. AMORTIZATION $76,984 $76,984 $0 $153,968 21. OTHER (ATTACH LIST) $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------------------------- 22. NET OTHER INCOME & EXPENSES $10,481 ($50,013) $0 ($39,532) ============================================================================================================================ REORGANIZATION EXPENSES 23. PROFESSIONAL FEES $1,481,277 $579,031 $0 $2,060,308 24. U.S. TRUSTEE FEES $0 $0 $0 $0 25. OTHER (ATTACH LIST) $0 $0 $0 $0 26. TOTAL REORGANIZATION EXPENSES $1,481,277 $579,031 $0 $2,060,308 ---------------------------------------------------------------------------------------------------------------------------- 27. INCOME TAX $0 $0 $0 $0 ============================================================================================================================ 28. NET PROFIT (LOSS) $0 $0 $0 $0 ============================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK, INC. ACCRUAL BASIS-3 CASE NUMBER: 400-42141-BJH 02/13/95, RWD, 2/96
CASH RECEIPTS AND MONTH MONTH MONTH QUARTER DISBURSEMENTS January 2001 February 2001 TOTAL ------------------------------------------------------------------------------------------------------------------------- 1. CASH - BEGINNING OF MONTH $14,294,580 $31,545,131 $0 $14,294,580 ------------------------------------------------------------------------------------------------------------------------- RECEIPTS FROM OPERATIONS 2. CASH SALES $0 $0 $0 $0 ------------------------------------------------------------------------------------------------------------------------- COLLECTION OF ACCOUNTS RECEIVABLE 3. PREPETITION $0 $0 $0 $0 4. POSTPETITION $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------------------------- 5. TOTAL OPERATING RECEIPTS $0 $0 $0 $0 ========================================================================================================================= NON - OPERATING RECEIPTS 6. LOANS & ADVANCES (ATTACH LIST) $0 $0 $0 $0 7. SALE OF ASSETS $0 $0 $0 $0 8. OTHER (ATTACH LIST) $65,875,210 $31,477,401 $0 $97,352,611 9. TOTAL NON-OPERATING RECEIPTS $65,875,210 $31,477,401 $0 $97,352,611 ------------------------------------------------------------------------------------------------------------------------- 10. TOTAL RECEIPTS $65,875,210 $31,477,401 $0 $97,352,611 ------------------------------------------------------------------------------------------------------------------------- 11. TOTAL CASH AVAILABLE $80,169,790 $63,022,532 $0 $111,647,191 ========================================================================================================================= OPERATING DISBURSEMENTS 12. NET PAYROLL $3,703,643 $4,431,079 $0 $8,134,722 13. PAYROLL TAXES PAID $1,895,115 $789,238 $0 $2,684,353 14. SALES, USE & OTHER TAXES PAID $237,314 $88,993 $0 $326,307 15. SECURED / RENTAL / LEASES $3,610,102 $4,005,254 $0 $7,615,356 16. UTILITIES $103,421 $127,082 $0 $230,503 17. INSURANCE $423,996 $1,796,030 $0 $2,220,026 18. INVENTORY PURCHASES $0 $0 $0 $0 19. VEHICLE EXPENSES $0 $0 $0 $0 20. TRAVEL $1,412,100 $993,739 $0 $2,405,839 21. ENTERTAINMENT $0 $0 $0 $0 22. REPAIRS & MAINTENANCE $4,622,644 $2,628,299 $0 $7,250,943 23. SUPPLIES $0 $0 $0 $0 24. ADVERTISING $5,291 $3,974 $0 $9,265 25. OTHER (ATTACH LIST) $31,350,549 $13,626,592 $0 $44,977,141 ------------------------------------------------------------------------------------------------------------------------- 26. TOTAL OPERATING DISBURSEMENTS $47,364,175 $28,490,280 $0 $75,854,455 ========================================================================================================================= REORGANIZATION EXPENSES 27. PROFESSIONAL FEES $1,241,484 $321,822 $0 $1,563,306 28. U.S. TRUSTEE FEES $19,000 $0 $0 $19,000 29. OTHER (ATTACH LIST) $0 $0 $0 $0 30. TOTAL REORGANIZATION EXPENSES $1,260,484 $321,822 $0 $1,582,306 31. TOTAL DISBURSEMENTS $48,624,659 $28,812,102 $0 $77,436,761 32. NET CASH FLOW $17,250,551 $2,665,299 $0 $19,915,850 ------------------------------------------------------------------------------------------------------------------------- 33. CASH - END OF MONTH $31,545,131 $34,210,430 $0 $34,210,430 =========================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK, INC. ACCRUAL BASIS-4 CASE NUMBER: 400-42141-BJH 02/13/95, RWD, 2/96
SCHEDULE MONTH MONTH MONTH ACCOUNTS RECEIVABLE AGING AMOUNT January 2001 February 2001 - -------------------------------------------------------------------------------------------------------------------------- 1. 0-30 $1,187 $19,968 $0 2. 31-60 $63,947 $63,947 $0 3. 61-90 $0 $0 $0 4. 91+ $0 $0 $0 5. TOTAL ACCOUNTS RECEIVABLE $0 $65,134 $83,915 $0 - -------------------------------------------------------------------------------------------------------------------------- 6. AMOUNT CONSIDERED UNCOLLECTIBLE $12,704,585 $12,804,168 $0 - -------------------------------------------------------------------------------------------------------------------------- 7. ACCOUNTS RECEIVABLE (NET) $0 ($12,639,451) ($12,720,253) $0 ==========================================================================================================================
AGING OF POSTPETITION TAXES AND PAYABLES MONTH: February 2001 - --------------------------------------------- -----------------
0-30 31-60 61-90 91+ TAXES PAYABLE DAYS DAYS DAYS DAYS TOTAL - ------------------------------------------------------------------------------------------------------------------------------- 1. FEDERAL $0 $0 $0 $0 $0 2. STATE $0 $0 $0 $0 $0 3. LOCAL $0 $0 $0 $0 $0 4. OTHER (ATTACH LIST) $0 $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------------- 5. TOTAL TAXES PAYABLE $0 $0 $0 $0 $0 ================================================================================================================================ 6. ACCOUNTS PAYABLE ($279,616) ($87,073) $181,177 $5,401 ($180,111) ================================================================================================================================
STATUS OF POSTPETITION TAXES MONTH: February 2001 - ------------------------------- --------------
BEGINNING AMOUNT ENDING TAX WITHHELD AND/ AMOUNT TAX FEDERAL LIABILITY* 0R ACCRUED PAID LIABILITY - -------------------------------------------------------------------------------------------------------------------- 1. WITHHOLDING** $0 $159,892 $159,892 $0 2. FICA-EMPLOYEE** $0 $0 $0 $0 3. FICA-EMPLOYER** $0 $0 $0 $0 4. UNEMPLOYMENT $0 $0 $0 $0 5. INCOME $0 $0 $0 $0 6. OTHER (ATTACH LIST) $0 $0 $0 $0 - -------------------------------------------------------------------------------------------------------------------- 7. TOTAL FEDERAL TAXES $0 $159,892 $159,892 $0 ==================================================================================================================== STATE AND LOCAL 8. WITHHOLDING $0 $0 $0 $0 9. SALES $0 $0 $0 $0 10. EXCISE $0 $0 $0 $0 11. UNEMPLOYMENT $0 $0 $0 $0 12. REAL PROPERTY $0 $0 $0 $0 13. PERSONAL PROPERTY $0 $0 $0 $0 14. OTHER (ATTACH LIST) $0 $0 $0 $0 15. TOTAL STATE & LOCAL $0 $0 $0 $0 - -------------------------------------------------------------------------------------------------------------------- 16. TOTAL TAXES $0 $159,892 $159,892 $0 ====================================================================================================================
* 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 CASE NAME: KITTY HAWK, INC. ACCRUAL BASIS-5 CASE NUMBER: 400-42141-BJH 02/13/95, RWD, 2/96 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 2001 BANK RECONCILIATIONS -------------------
Account #1 Account #2 Account #3 A. BANK: Bank One Bank One Wells Fargo B. ACCOUNT NUMBER: 100140334 9319959434 4417-881463 TOTAL C. PURPOSE (TYPE): Operating Disbursement Operating ---------------------------------------------------------------------------------------------------------------------------- 1. BALANCE PER BANK STATEMENT $1,181,558 $50,000 $19,243 $1,533,852 2. ADD: TOTAL DEPOSITS NOT CREDITED $0 $0 $0 $0 3. SUBTRACT: OUTSTANDING CHECKS $3,050,031 $0 $0 $3,289,341 4. OTHER RECONCILING ITEMS $0 $0 $0 5. MONTH END BALANCE PER BOOKS ($1,868,473) $50,000 $19,243 ($1,799,230) 6. NUMBER OF LAST CHECK WRITTEN No checks 25991 No checks
INVESTMENT ACCOUNTS
DATE OF TYPE OF PURCHASE CURRENT BANK, ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE -------------------------------------------------------------------------------------------------------------------------- 7. Wells Fargo Certificate of Deposit CD $600,000 $605,115 8. Bank One 2/28/2001 Overnight Sweep $35,359,804 $35,359,804 9. N/A 10. N/A 11. TOTAL INVESTMENTS $35,959,804 $35,964,919 CASH -------------------------------------------------------------------------------------------------------------------------- 12. CURRENCY ON HAND $1,000 -------------------------------------------------------------------------------------------------------------------------- 13. TOTAL CASH - END OF MONTH $34,210,430 --------------------------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK, INC. ACCRUAL BASIS-5 CASE NUMBER: 400-42141-BJH 02/13/95, RWD, 2/96 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 2001 BANK RECONCILIATIONS -------------------
Account #4 Account #5 Account #6 A. BANK: Bank One Bank One Bank One B. ACCOUNT NUMBER: 1570695922 100129949/9319958451 1586268961 TOTAL C. PURPOSE (TYPE): Payroll Health Insurance Flex Spending --------------------------------------------------------------------------------------------------------------------------- 1. BALANCE PER BANK STATEMENT $0 $239,310 $43,741 $283,051 2. ADD: TOTAL DEPOSITS NOT CREDITED $0 $0 $0 $0 3. SUBTRACT: OUTSTANDING CHECKS $0 $239,310 $0 $239,310 4. OTHER RECONCILING ITEMS $0 $0 $0 $0 5. MONTH END BALANCE PER BOOKS $0 $0 $43,741 $43,741 6. NUMBER OF LAST CHECK WRITTEN 75181 145448 11011
INVESTMENT ACCOUNTS
DATE OF TYPE OF PURCHASE CURRENT BANK, ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE --------------------------------------------------------------------------------------------------------------------------- 7. 8. 9. 10. 11. TOTAL INVESTMENTS $0 $0 CASH --------------------------------------------------------------------------------------------------------------------------- 12. CURRENCY ON HAND $0 --------------------------------------------------------------------------------------------------------------------------- 13. TOTAL CASH - END OF MONTH $43,741 ---------------------------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK, INC. ACCRUAL BASIS-5 CASE NUMBER: 400-42141-BJH 02/13/95, RWD, 2/96 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 2001 BANK RECONCILIATIONS -------------------
Account #7 Account #8 Account #9 A. BANK: Bank One B. ACCOUNT NUMBER: 1586269860 TOTAL C. PURPOSE (TYPE): COD ---------------------------------------------------------------------------------------------------------- 1. BALANCE PER BANK STATEMENT $0 $0 $0 $0 2. ADD: TOTAL DEPOSITS NOT CREDITED $0 $0 $0 $0 3. SUBTRACT: OUTSTANDING CHECKS $0 $0 $0 $0 4. OTHER RECONCILING ITEMS $0 $0 $0 $0 5. MONTH END BALANCE PER BOOKS $0 $0 6. NUMBER OF LAST CHECK WRITTEN 2111
INVESTMENT ACCOUNTS
DATE OF TYPE OF PURCHASE CURRENT BANK, ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE ----------------------------------------------------------------------------------------------------------------------- 7. 8. 9. 10. 11. TOTAL INVESTMENTS $0 $0 CASH ----------------------------------------------------------------------------------------------------------------------- 12. CURRENCY ON HAND ----------------------------------------------------------------------------------------------------------------------- 13. TOTAL CASH - END OF MONTH $0 -----------------------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK, INC. ACCRUAL BASIS-6 CASE NUMBER: 400-42141-BJH 02/13/95, RWD, 2/96 MONTH: February 2001 ------------------ 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 ------------------------------------------------------------------------------------------------ TYPE OF AMOUNT TOTAL PAID NAME PAYMENT PAID TO DATE ------------------------------------------------------------------------------------------------ 1. Mike Clark Salary $7,916 $74,167 2. Jim Craig Salary $33,333 $200,002 3. Janie Garrard Salary $0 $2,625 4. Drew Keith Salary $32,500 $201,462 5 Lena Baker Salary $0 $7,500 6 Jim Reeves Salary $33,333 $333,330 7 John Turnipseed Salary $0 $41,668 ------------------------------------------------------------------------------------------------ 8 TOTAL PAYMENTS TO INSIDERS $107,082 $860,754 ================================================================================================
PROFESSIONALS ---------------------------------------------------------------------------------------------------------------------------- DATE OF COURT TOTAL ORDER AUTHORIZING AMOUNT AMOUNT TOTAL PAID INCURRED NAME PAYMENT APPROVED PAID TO DATE & UNPAID * ---------------------------------------------------------------------------------------------------------------------------- 1. Lain Faulkner $49,140 $583,292 $184,159 2. Haynes and Boone $0 $2,140,128 $551,661 3. The Seabury Group $150,000 $1,500,000 $0 4. Forshey & Prostock $0 $365,670 $0 5 Price Waterhouse Coopers $0 $294,071 $106,500 6 Jay Alix and Associates $0 $640,992 $109,653 7 Andrews & Kurth $0 $823,377 $109,000 8 Jenkins & Gilchrist $0 $47,474 $0 9 Ford and Harrison $0 $201,365 $10,515 10 Grant Thornton $28,799 $173,078 $0 11 Verner Liipfert $0 $251,171 $218,424 ---------------------------------------------------------------------------------------------------------------------------- 12 TOTAL PAYMENTS TO PROFESSIONALS $0 $227,939 $7,020,618 $1,289,912 ============================================================================================================================
* INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
SCHEDULED AMOUNTS MONTHLY PAID TOTAL PAYMENTS DURING UNPAID NAME OF CREDITOR DUE MONTH POSTPETITION --------------------------------------------------------------------------------------------------------------- 1. N/A 2. N/A 3. N/A 4. N/A 5. N/A --------------------------------------------------------------------------------------------------------------- 6. TOTAL $0 $0 $0 ===============================================================================================================
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK, INC. ACCRUAL BASIS-7 CASE NUMBER: 400-42141-BJH 02/13/95, RWD, 2/96 MONTH: February 2001 ------------------ QUESTIONNAIRE
YES NO ------------------------------------------------------------------------------------------------------------------- 1. HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? X ------------------------------------------------------------------------------------------------------------------- 2. HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? X ------------------------------------------------------------------------------------------------------------------- 3. ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? X ------------------------------------------------------------------------------------------------------------------- 4. HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? X ------------------------------------------------------------------------------------------------------------------- 5. HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? X ------------------------------------------------------------------------------------------------------------------- 6. ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? X ------------------------------------------------------------------------------------------------------------------- 7. ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? X ------------------------------------------------------------------------------------------------------------------- 8. ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? X ------------------------------------------------------------------------------------------------------------------- 9. ARE ANY OTHER POSTPETITION TAXES PAST DUE? X ------------------------------------------------------------------------------------------------------------------- 10. ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? X ------------------------------------------------------------------------------------------------------------------- 11. HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? X ------------------------------------------------------------------------------------------------------------------- 12. ARE ANY WAGE PAYMENTS PAST DUE? X -------------------------------------------------------------------------------------------------------------------
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES," PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY. Item #4 - the Company has paid down approximately $652,000 on its revolving credit facility in accordance with various court orders. Cash used in the payments were a result of asset sales (aircraft and inventory) and internally generated cash. INSURANCE
YES NO ------------------------------------------------------------------------------------------------------------------- 1. ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? X ------------------------------------------------------------------------------------------------------------------- 2. ARE ALL PREMIUM PAYMENTS PAID CURRENT? X ------------------------------------------------------------------------------------------------------------------- 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 PAYMENT AMOUNT POLICY CARRIER PERIOD COVERED & FREQUENCY ------------------------------------------------------------------------------------------------------------------ 121 Aircraft Insurance Aviation Agency 6/1/2000 - 5/31/2001 781,160 Quarterly Workers Comp Aviation Agency 01/01/2001 - 12/31/2001 95,000 Monthly Inland Marine/Property CGU 4/1/2000 - 3/31/2001 9,902 Monthly Professional Liab Aviation Agency 6/1/2000 - 5/31/2001 25,291 Annual 135 Aircraft Insurance Aviation Agency 10/1/2000 - 9/30/2001 100,266 Quarterly Primary Auto Aviation Agency 4/1/2000 - 3/31/2001 10,827 Monthly Excess Auto Aviation Agency 4/1/2000 - 3/31/2001 29,870 Annual Medical Equipment Aviation Agency 3/29/2000 -3/29/2001 3,363 Annual Aggregate Claims Liab Reliastar 5/1/2000 - 4/30/2001 15,000 Annually Claims Admin Runout CIGNA 5/1/2000 - 4/30/2001 125,779 One time Pilot Long Term Disabl UNUM 5/1/2000 - 4/30/2001 7,975 Monthly Stop Loss Reliastar 5/1/2000 - 4/30/2001 31,635 Monthly Case Management Reliastar 5/1/2000 - 4/30/2001 1,329 Monthly Claims Administration Allied Benefit System 5/1/2000 - 4/30/2001 25,052 Monthly Life/AD&D CIGNA 5/1/2000 - 4/30/2001 11,732 Monthly EAP Behavioral Health Partners 5/1/2000 - 4/30/2001 2,941 Monthly Section 125 Admin Taxsaver 5/1/2000 - 4/30/2001 1,179 Monthly ------------------------------------------------------------------------------------------------------------------
CASE NAME: KITTY HAWK, INC. CASE NUMBER: 400-42141-BJH DETAILS OF OTHER ITEMS
ACCRUAL BASIS-1 February 2001 8. OTHER (ATTACH LIST) $ 349,988,037 Reported -------------- Intercompany Receivables 347,810,222 Escrow JRC 400,000 A/R Other 458,390 A/R Employees - A/R 401(k) Loan (492) A/R Reconciling item (10,097) Deferred Taxes 776,266 Deposits - Other 137,749 Deposits - Retainers 415,999 -------------- 349,988,037 Detail -------------- - Difference 14. OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) 9,720,420 Reported -------------- Loan organizaiton costs 1,178,556 Bond offering costs 7,151,860 Goodwill - KH Cargo 1,390,004 -------------- 9,720,420 Detail -------------- - Difference 15. OTHER (ATTACH LIST) 138,370,015 -------------- Investment in KH Aircargo 1,000 Investment in KH International 81,974,302 Investment in Longhorn 2,266,436 Investment in KH Cargo 54,128,277 -------------- 138,370,015 Detail -------------- - Difference 22. OTHER (ATTACH LIST) $ 2,730,846 Reported -------------- Accrued expenses 888,908 Accrued interest 420,607 Accrued health savings 614,257 A/P Aging reconciling item (25,853) A/P clearing - Accrued 401(k) 27,445 Accrued Salaries/Wages 805,482 -------------- 2,730,846 Detail -------------- - Difference 27. OTHER (ATTACH LIST) $ 28,849,573 Reported -------------- Deferred Taxes 31,006,505 Accrued Taxes payable (17,685,679) Interest payable 15,528,747 -------------- 28,849,573 Detail -------------- - Difference
CASE NAME: KITTY HAWK, INC. CASE NUMBER: 400-42141 DETAILS OF OTHER ITEMS
ACCRUAL BASIS-2 16. NON-OPERATING INCOME (ATT. LIST) (205,267)Reported -------------- Interest Income (205,267) -------------- (205,267)Detail -------------- - Difference ACCRUAL BASIS-3 8. OTHER (ATTACH LIST) 31,477,401 Reported -------------- Transfers from Charters 1,550,221 Transfers from Cargo 10,678,535 Transfers from Aircargo 14,932,327 Transfers from International 5,000 Cash deposits - non-lockbox 4,066,455 Interest income 199,737 Misc Deposits 47,769 NSF Checks (2,643) -------------- 31,477,401 Detail -------------- - Difference -------------- 25. OTHER (ATTACH LIST) 13,626,592 Reported -------------- Inc. 401(k) 515,190 Employee Expenses 138,343 Bank charges 69,859 Refunds/Claims 18,650 Interest expense 307 Fuel 5,764,487 Ground Handling 2,488,812 Shipping 127,453 Ondemand Charter costs 35,085 135 Airline costs 9,075 Contract Labor 565,800 Trucking 378,441 Customs/Parking/Landing 543,414 Containers 26,226 Security 22,322 Simulator/Communication/Other Training 247,134 Misc 66,206 Asset purchase 600,000 Charts/Manuals 2,801 Shutdown costs 52,509 Deicing 167,153 Office 34,523 Subcharter Aircraft 1,752,802 -------------- 13,626,592 Detail -------------- - Difference
CASE NAME: KITTY HAWK, INC. FOOTNOTES SUPPLEMENT CASE NUMBER: 400-42141-BJH ACCRUAL BASIS MONTH: February 2001 --------------
ACCRUAL BASIS LINE FORM NUMBER NUMBER FOOTNOTE / EXPLANATION ----------------------------------------------------------------------------------------------------------- 3 8 All cash received into the each subsidiary cash account is swept each night to Kitty Hawk, Inc. Master Account ----------------------------------------------------------------------------------------------------------- 3 31 All disbursements (either by wire transfer or check), including payroll, are disbursed out of the Kitty Hawk, Inc. controlled disbursement account. ----------------------------------------------------------------------------------------------------------- 4 6 All assessments of uncollectible accounts receivable are done at Kitty Hawk, Inc. All reserves are recorded at Inc. and pushed down to Inc.'s subsidiaries as deemed necessary. ----------------------------------------------------------------------------------------------------------- 7 All insurance policies are carried in the name of Kitty Hawk, Inc. and its subsidiaries. Therefore, they are listed here accordingly. ----------------------------------------------------------------------------------------------------------- 6 Insiders Payments to insiders include a portion of the Court approved retention payments in the month of January. -----------------------------------------------------------------------------------------------------------
EX-99.2 3 a2043092zex-99_2.txt EX-99.2 EXHIBIT 99.2 MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK AIRCARGO, INC. ACCRUAL BASIS CASE NUMBER: 400-42142-BJH-11 02/13/95, RWD, 2/96 JUDGE: BARBARA J. HOUSER UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF TEXAS SIXTH DIVISION MONTHLY OPERATING REPORT MONTH ENDING: FEBRUARY 28, 2001 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/ Drew Keith CHIEF FINANCIAL OFFICER ------------------------------------------- --------------------------- ORIGINAL SIGNATURE OF RESPONSIBLE PARTY TITLE DREW KEITH 3/20/2001 ------------------------------------------- --------------------------- PRINTED NAME OF RESPONSIBLE PARTY DATE PREPARER: /s/ Kevin K. Craig CONTROLLER, KITTY HAWK INC. ------------------------------------------- --------------------------- ORIGINAL SIGNATURE OF PREPARER TITLE KEVIN K. CRAIG 3/20/2001 ------------------------------------------- --------------------------- PRINTED NAME OF PREPARER DATE MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK AIRCARGO, INC. ACCRUAL BASIS-1 CASE NUMBER: 400-42142-BJH-11 02/13/95, RWD, 2/96 AMENDED 3/20/01 COMPARATIVE BALANCE SHEET
SCHEDULE MONTH MONTH MONTH ------------- -------------- AMOUNT JANUARY, 2001 FEBRUARY, 2001 ASSETS - --------------------------------------------------------------------------------------------------------------------- 1. UNRESTRICTED CASH $16,904 $20,924 $21,324 $0 2. RESTRICTED CASH $0 $0 $0 $0 3. TOTAL CASH $16,904 $20,924 $21,324 $0 - --------------------------------------------------------------------------------------------------------------------- 4. ACCOUNTS RECEIVABLE (NET) $29,303,045 $26,804,113 $24,276,639 $0 5. INVENTORY $1,508,508 $2,427,576 $2,403,007 $0 6. NOTES RECEIVABLE $0 $0 $0 $0 7. PREPAID EXPENSES $2,294,717 $16,188,438 $13,482,705 $0 8. OTHER (ATTACH LIST) $111,256,463 ($41,337,323) ($39,513,358) $0 9. TOTAL CURRENT ASSETS $144,379,636 $4,103,728 $670,317 $0 - --------------------------------------------------------------------------------------------------------------------- 10. PROPERTY, PLANT & EQUIPMENT $166,772,560 $206,205,090 $205,729,649 $0 11. LESS: ACCUMULATED DEPRECIATION / DEPLETION $0 $51,433,060 $53,105,274 $0 12. NET PROPERTY, PLANT & EQUIPMENT $166,772,560 $154,772,030 $152,624,375 $0 - --------------------------------------------------------------------------------------------------------------------- 13. DUE FROM INSIDERS 14. OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) $0 $2,320,000 $2,320,000 $0 15. OTHER (ATTACH LIST) $0 $0 $0 $0 - --------------------------------------------------------------------------------------------------------------------- 16. TOTAL ASSETS $311,152,196 $161,195,758 $155,614,692 $0 ===================================================================================================================== POSTPETITION LIABILITIES 17. ACCOUNTS PAYABLE $2,970,627 $3,126,230 $0 18. TAXES PAYABLE $38,000 $32,000 $0 19. NOTES PAYABLE $900,000 $0 $0 20. PROFESSIONAL FEES $0 $0 $0 21. SECURED DEBT $8,185,926 $8,046,696 $0 22. OTHER (ATTACH LIST) $10,396,948 $7,038,325 $0 - --------------------------------------------------------------------------------------------------------------------- 23. TOTAL POSTPETITION LIABILITIES $22,491,501 $18,243,251 $0 ===================================================================================================================== PREPETITION LIABILITIES 24. SECURED DEBT $27,100,000 $27,100,000 $0 25. PRIORITY DEBT $2,177,962 $0 $0 $0 26. UNSECURED DEBT $184,252,878 $30,442,680 $30,440,296 $0 27. OTHER (ATTACH LIST) $0 $20,040,527 $20,014,211 $0 28. TOTAL PREPETITION LIABILITIES $186,430,840 $77,583,207 $77,554,507 $0 - --------------------------------------------------------------------------------------------------------------------- 29. TOTAL LIABILITIES $186,430,840 $100,074,708 $95,797,758 $0 ===================================================================================================================== EQUITY 30. PREPETITION OWNERS' EQUITY $69,645,449 $69,645,449 $0 31. POSTPETITION CUMULATIVE PROFIT OR (LOSS) ($8,524,399) ($9,828,515) $0 32. DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) $0 $0 $0 33. TOTAL EQUITY $0 $61,121,050 $59,816,934 $0 - --------------------------------------------------------------------------------------------------------------------- 34. TOTAL LIABILITIES & OWNERS' EQUITY $186,430,840 $161,195,758 $155,614,692 $0 ===================================================================================================================== $0 $0 $0
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK AIRCARGO, INC. ACCRUAL BASIS-2 AMENDED 3/20/01 CASE NUMBER: 400-42142-BJH-11 02/13/95, RWD, 2/96 INCOME STATEMENT AMENDED 3/20/01
MONTH MONTH MONTH QUARTER ------------- ------------- JANUARY, 2001 FEBRUARY, 2001 TOTAL REVENUES - ---------------------------------------------------------------------------------------------------- 1. GROSS REVENUES $ 9,800,616 $ 9,712,499 $ 0 $ 19,513,115 2. LESS: RETURNS & DISCOUNTS $ 0 $ 0 $ 0 $ 0 - ---------------------------------------------------------------------------------------------------- 3. NET REVENUE $ 9,800,616 $ 9,712,499 $ 0 $ 19,513,115 ==================================================================================================== COST OF GOODS SOLD 4. MATERIAL $ 0 $ 0 $ 0 $ 0 5. DIRECT LABOR $ 0 $ 0 $ 0 $ 0 6. DIRECT OVERHEAD $ 0 $ 0 $ 0 $ 0 7. TOTAL COST OF GOODS SOLD $ 0 $ 0 $ 0 $ 0 - ---------------------------------------------------------------------------------------------------- 8. GROSS PROFIT $ 9,800,616 $ 9,712,499 $ 0 $ 19,513,115 ==================================================================================================== OPERATING EXPENSES 9. OFFICER / INSIDER COMPENSATION $ 58,334 $ 58,334 $ 0 $ 116,668 10. SELLING & MARKETING $ 0 $ 0 $ 0 $ 0 11. GENERAL & ADMINISTRATIVE $ 1,095,685 $ 792,398 $ 0 $ 1,888,083 12. RENT & LEASE $ 2,510,052 $ 2,373,674 $ 0 $ 4,883,726 13. OTHER (ATTACH LIST) $ 12,863,148 $ 12,762,891 $ 0 $ 25,626,039 14. TOTAL OPERATING EXPENSES $ 16,527,219 $ 15,987,297 $ 0 $ 32,514,516 - ---------------------------------------------------------------------------------------------------- 15. INCOME BEFORE NON-OPERATING INCOME & EXPENSE ($ 6,726,603) ($ 6,274,798) $ 0 ($13,001,401) ==================================================================================================== OTHER INCOME & EXPENSES 16. NON-OPERATING INCOME (ATT. LIST) ($ 1,968) ($ 2,049) $ 0 ($ 4,017) 17. NON-OPERATING EXPENSE (ATT. LIST) $ 0 $ 0 $ 0 $ 0 18. INTEREST EXPENSE $ 635,066 $ 589,710 $ 0 $ 1,224,776 19. DEPRECIATION / DEPLETION $ 116,821 $ 114,522 $ 0 $ 231,343 20. AMORTIZATION $ 0 $ 0 $ 0 $ 0 21. OTHER (ATTACH LIST) ($ 6,750,819) ($ 4,803,456) $ 0 ($11,554,275) - ---------------------------------------------------------------------------------------------------- 22. NET OTHER INCOME & EXPENSES ($ 6,000,900) ($ 4,101,273) $ 0 ($10,102,173) ==================================================================================================== REORGANIZATION EXPENSES 23. PROFESSIONAL FEES $ 0 $ 0 $ 0 $ 0 24. U.S. TRUSTEE FEES $ 0 $ 0 $ 0 $ 0 25. OTHER (ATTACH LIST) $ 0 $ 0 $ 0 $ 0 26. TOTAL REORGANIZATION EXPENSES $ 0 $ 0 $ 0 $ 0 - ---------------------------------------------------------------------------------------------------- 27. INCOME TAX ($ 290,281) ($ 869,410) $ 0 ($ 1,159,691) ==================================================================================================== 28. NET PROFIT (LOSS) ($ 435,422) ($ 1,304,115) $ 0 ($ 1,739,537) ====================================================================================================
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK AIRCARGO, INC. ACCRUAL BASIS-3 CASE NUMBER: 400-42142-BJH-11 02/13/95, RWD, 2/96
MONTH MONTH MONTH QUARTER ------------- -------------- JANUARY, 2001 FEBRUARY, 2001 TOTAL CASH RECEIPTS AND DISBURSEMENTS - --------------------------------------------------------------------------------------------------------- 1. CASH-BEGINNING OF MONTH $ 20,824 $ 20,924 $ 21,324 $ 20,824 - --------------------------------------------------------------------------------------------------------- RECEIPTS FROM OPERATIONS 2. CASH SALES $ 0 $ 0 $ 0 $ 0 - --------------------------------------------------------------------------------------------------------- COLLECTION OF ACCOUNTS RECEIVABLE 3. PREPETITION $ 0 $ 0 $ 0 $ 0 4. POSTPETITION $ 47,561,767 $ 14,932,727 $ 0 $ 62,494,494 - --------------------------------------------------------------------------------------------------------- 5. TOTAL OPERATING RECEIPTS $ 47,561,767 $ 14,932,727 $ 0 $ 62,494,494 ========================================================================================================= NON - OPERATING RECEIPTS 6. LOANS & ADVANCES (ATTACH LIST) $ 0 $ 0 $ 0 $ 0 7. SALE OF ASSETS $ 0 $ 0 $ 0 $ 0 8. OTHER (ATTACH LIST) ($47,561,667) ($14,932,327) $ 0 ($62,493,994) 9. TOTAL NON-OPERATING RECEIPTS ($47,561,667) ($14,932,327) $ 0 ($62,493,994) - --------------------------------------------------------------------------------------------------------- 10. TOTAL RECEIPTS $ 100 $ 400 $ 0 $ 500 - --------------------------------------------------------------------------------------------------------- 11. TOTAL CASH AVAILABLE $ 20,924 $ 21,324 $ 21,324 $ 21,324 ========================================================================================================= OPERATING DISBURSEMENTS 12. NET PAYROLL $ 0 $ 0 $ 0 $ 0 13. PAYROLL TAXES PAID $ 0 $ 0 $ 0 $ 0 14. SALES, USE & OTHER TAXES PAID $ 0 $ 0 $ 0 $ 0 15. SECURED/RENTAL/LEASES $ 0 $ 0 $ 0 $ 0 16. UTILITIES $ 0 $ 0 $ 0 $ 0 17. INSURANCE $ 0 $ 0 $ 0 $ 0 18. INVENTORY PURCHASES $ 0 $ 0 $ 0 $ 0 19. VEHICLE EXPENSES $ 0 $ 0 $ 0 $ 0 20. TRAVEL $ 0 $ 0 $ 0 $ 0 21. ENTERTAINMENT $ 0 $ 0 $ 0 $ 0 22. REPAIRS & MAINTENANCE $ 0 $ 0 $ 0 $ 0 23. SUPPLIES $ 0 $ 0 $ 0 $ 0 24. ADVERTISING $ 0 $ 0 $ 0 $ 0 25. OTHER (ATTACH LIST) $ 0 $ 0 $ 0 $ 0 - --------------------------------------------------------------------------------------------------------- 26. TOTAL OPERATING DISBURSEMENTS $ 0 $ 0 $ 0 $ 0 ========================================================================================================= REORGANIZATION EXPENSES 27. PROFESSIONAL FEES $ 0 $ 0 $ 0 $ 0 28. U.S. TRUSTEE FEES $ 0 $ 0 $ 0 $ 0 29. OTHER (ATTACH LIST) $ 0 $ 0 $ 0 $ 0 30. TOTAL REORGANIZATION EXPENSES $ 0 $ 0 $ 0 $ 0 31. TOTAL DISBURSEMENTS $ 0 $ 0 $ 0 $ 0 32. NET CASH FLOW $ 100 $ 400 $ 0 $ 500 - --------------------------------------------------------------------------------------------------------- 33. CASH-END OF MONTH $ 20,924 $ 21,324 $ 21,324 $ 21,324 =========================================================================================================
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK AIRCARGO, INC. ACCRUAL BASIS-4 CASE NUMBER: 400-42142-BJH-11 02/13/95, RWD, 2/96
SCHEDULE MONTH MONTH MONTH ------------- -------------- ACCOUNTS RECEIVABLE AGING AMOUNT JANUARY, 2001 FEBRUARY, 2001 - ----------------------------------------------------------------------------------------------------------------- 1. 0-30 $27,808,237 $23,056,502 $20,248,367 $0 2. 31-60 $648,873 $329,211 $708,316 $0 3. 61-90 $923,454 $46,815 ($11,432) $0 4. 91+ ($77,519) $1,377,605 $1,399,596 $0 5. TOTAL ACCOUNTS RECEIVABLE $29,303,045 $24,810,133 $22,344,847 $0 - ----------------------------------------------------------------------------------------------------------------- 6. AMOUNT CONSIDERED UNCOLLECTIBLE - ----------------------------------------------------------------------------------------------------------------- 7. ACCOUNTS RECEIVABLE (NET) $29,303,045 $24,810,133 $22,344,847 $0 =================================================================================================================
AGING OF POSTPETITION TAXES AND PAYABLES MONTH: FEBRUARY, 2001 - --------------------------------------------- 0-30 31-60 61-90 91+ TAXES PAYABLE DAYS DAYS DAYS DAYS TOTAL - ---------------------------------------------------------------------------------------------------- 1. FEDERAL $ 0 $ 0 $ 0 $ 0 $ 0 2. STATE $ 32,000 $ 0 $ 0 $ 0 $ 32,000 3. LOCAL $ 0 $ 0 $ 0 $ 0 4. OTHER (ATTACH LIST) $ 0 $ 0 $ 0 $ 0 - ---------------------------------------------------------------------------------------------------- 5. TOTAL TAXES PAYABLE $ 32,000 $ 0 $ 0 $ 0 $ 32,000 ==================================================================================================== 6. ACCOUNTS PAYABLE $1,297,532 $ 562,746 $ 75,520 $1,190,432 $3,126,230 ====================================================================================================
STATUS OF POSTPETITION TAXES MONTH: FEBRUARY, 2001 - ------------------------------- BEGINNING AMOUNT ENDING TAX WITHHELD AND/ AMOUNT TAX FEDERAL LIABILITY* 0R ACCRUED PAID LIABILITY - --------------------------------------------------------------------------------------------- 1. WITHHOLDING** $ 0 $1,293,218 $1,293,218 $ 0 2. FICA-EMPLOYEE** $ 0 $ 0 3. FICA-EMPLOYER** $ 0 $ 0 4. UNEMPLOYMENT $ 0 $ 0 5. INCOME $ 0 $ 0 $ 0 $ 0 6. OTHER (ATTACH LIST) $ 0 $ 0 - --------------------------------------------------------------------------------------------- 7. TOTAL FEDERAL TAXES $ 0 $1,293,218 $1,293,218 $ 0 ============================================================================================= STATE AND LOCAL 8. WITHHOLDING $ 0 $ 0 9. SALES $ 0 $ 0 10. EXCISE $ 38,000 $ 26,000 $ 32,000 $ 32,000 11. UNEMPLOYMENT $ 0 $ 0 12. REAL PROPERTY $ 0 $ 0 13. PERSONAL PROPERTY $ 0 $ 0 $ 0 $ 0 14. OTHER (ATTACH LIST) $ 0 $ 0 15. TOTAL STATE & LOCAL $ 38,000 $ 26,000 $ 32,000 $ 32,000 - --------------------------------------------------------------------------------------------- 16. TOTAL TAXES $ 38,000 $1,319,218 $1,325,218 $ 32,000 =============================================================================================
* 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 CASE NAME: KITTY HAWK AIRCARGO, INC. ACCRUAL BASIS-5 CASE NUMBER: 400-42142-BJH-11 02/13/95, RWD, 2/96 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, 2001 BANK RECONCILIATIONS Account #1 Account #2 Account #3 - ---------------------------------------------------------------------------------------------------------------------- A. BANK: Bank One B. ACCOUNT NUMBER: 100130152 TOTAL C. PURPOSE (TYPE): Operating Account - ---------------------------------------------------------------------------------------------------------------------- 1. BALANCE PER BANK STATEMENT $0 $0 2. ADD: TOTAL DEPOSITS NOT CREDITED $0 $0 3. SUBTRACT: OUTSTANDING CHECKS $0 $0 4. OTHER RECONCILING ITEMS $0 $0 5. MONTH END BALANCE PER BOOKS $0 $0 $0 $0 6. NUMBER OF LAST CHECK WRITTEN
INVESTMENT ACCOUNTS
DATE OF TYPE OF PURCHASE CURRENT BANK, ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE - ----------------------------------------------------------------------------------------------------------- 7. 8. 9. 10. 11. TOTAL INVESTMENTS $0 $0 CASH - --------------------------------------------------------------------------------------------------------- 12. CURRENCY ON HAND $21,324 - --------------------------------------------------------------------------------------------------------- 13. TOTAL CASH - END OF MONTH $21,324 - ---------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK AIRCARGO, INC. ACCRUAL BASIS-6 CASE NUMBER: 400-42142-BJH-11 02/13/95, RWD, 2/96 MONTH: FEBRUARY, 2001 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 - -------------------------------------------------------------------- TYPE OF AMOUNT TOTAL PAID NAME PAYMENT PAID TO DATE - -------------------------------------------------------------------- 1. Clark Stevens Salary $31,667 $186,249 2. Donny Scott Salary $26,667 $144,999 3. Susan Hawley Salary $0 $41,667 4. 5. - -------------------------------------------------------------------- 6. TOTAL PAYMENTS TO INSIDERS $58,334 $372,915 ====================================================================
PROFESSIONALS - ------------------------------------------------------------------------------------------------------------- DATE OF COURT TOTAL ORDER AUTHORIZING AMOUNT AMOUNT TOTAL PAID INCURRED NAME PAYMENT APPROVED PAID TO DATE & UNPAID * - ------------------------------------------------------------------------------------------------------------- 1. SEE KITTY HAWK, INC. MOR - CASE# 400-42141-BJH-11 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
SCHEDULED AMOUNTS MONTHLY PAID TOTAL PAYMENTS DURING UNPAID NAME OF CREDITOR DUE MONTH POSTPETITION - ------------------------------------------------------------------------------------------ 1. PEGASUS $403,000 $403,000 $0 2. REPUBLIC $269,166 $269,166 $0 3. PROVIDENT $125,000 $125,000 $0 4. COAST BUSINESS $262,000 $262,000 $0 5. WELLS FARGO $0 $0 $0 - ------------------------------------------------------------------------------------------ 6. TOTAL $1,059,166 $1,059,166 $0 =======================================================================================
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK AIRCARGO, INC. ACCRUAL BASIS-7 CASE NUMBER: 400-42142-BJH-11 02/13/95, RWD, 2/96 MONTH: FEBRUARY, 2001
QUESTIONNAIRE - ------------------------------------------------------------------------------------------------------- YES NO - ------------------------------------------------------------------------------------------------------- 1. HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE X THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? - ------------------------------------------------------------------------------------------------------- 2. HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT X OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? - ------------------------------------------------------------------------------------------------------- 3. ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR X LOANS) DUE FROM RELATED PARTIES? - ------------------------------------------------------------------------------------------------------- 4. HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES X THIS REPORTING PERIOD? - ------------------------------------------------------------------------------------------------------- 5. HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE X DEBTOR FROM ANY PARTY? - ------------------------------------------------------------------------------------------------------- 6. ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? X - ------------------------------------------------------------------------------------------------------- 7. ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES X PAST DUE? - ------------------------------------------------------------------------------------------------------- 8. ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? X - ------------------------------------------------------------------------------------------------------- 9. ARE ANY OTHER POSTPETITION TAXES PAST DUE? X - ------------------------------------------------------------------------------------------------------- 10. ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS X DELINQUENT? - ------------------------------------------------------------------------------------------------------- 11. HAVE ANY PREPETITION TAXES BEEN PAID DURING THE X REPORTING PERIOD? - ------------------------------------------------------------------------------------------------------- 12. ARE ANY WAGE PAYMENTS PAST DUE? X - -------------------------------------------------------------------------------------------------------
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES," PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY. a) Write-Off BER Engine for Net Loss of $243,352
INSURANCE - ------------------------------------------------------------------------------------------------------------------------ YES NO - ------------------------------------------------------------------------------------------------------------------------ 1. ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER X NECESSARY INSURANCE COVERAGES IN EFFECT? - ------------------------------------------------------------------------------------------------------------------------ 2. ARE ALL PREMIUM PAYMENTS PAID CURRENT? X - ------------------------------------------------------------------------------------------------------------------------ 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 PAYMENT AMOUNT POLICY CARRIER PERIOD COVERED & FREQUENCY - --------------------------------------------------------------------------------------------------- SEE KITTY HAWK, INC. MOR - CASE # 400-42141-BJH-11
CASE NAME: KITTY HAWK AIRCARGO, INC. CASE NUMBER: 400-42142-BJH-11 DETAILS OF OTHER ITEMS FEBRUARY, 2001
ACCRUAL BASIS-1 8. OTHER (ATTACH LIST) $ (39,513,358)Reported ------------- Intercompany Receivables (44,030,586) Deposits - State Street Bank (TA Air) 3,534,695 Deposits - Landing & Parking 57,000 Deposits - Ventura Aerospace 65,125 Deposits - Rent 113,643 Deposits - Misc 642,440 Intangible - Mather 104,325 ------------- (39,513,358)Detail ------------- - Difference 14. OTHER (ATTACH LIST) $ 2,320,000 Reported ------------- Deposits - Aircraft Leases 2,320,000 Intangible - ATAZ STC 0 ------------- 2,320,000 Detail ------------- - Difference 22. OTHER (ATTACH LIST) $ 7,038,325 Reported ------------- Accrued A/P 3,544,439 Deposit held for ATAZ sale 0 Accrued Salaries & Wages 2,041,093 Accrued 401K & Misc PR Deductions 185,885 Accrued PR Taxes (FICA) 149,743 Accrued Fuel Exp 5,917,677 Accrued Interest 543,485 Accrued Maintenance Reserves 1,209,827 Accrued Fed Income Tax (Post) (6,553,824) ------------- 7,038,325 Detail ------------- - Difference 27. OTHER (ATTACH LIST) $ 20,014,211 Reported ------------- Accrued A/P 5,339,668 Accrued Maintenance Reserves 10,267,512 Accrued Fed Income Tax (Pre) 3,332,363 Accrued Taxes - Other 444 FINOVA Equip Accrued 344,224 Pegasus Lease Incentive 730,000 ------------- 20,014,211 Detail ------------- - Difference CASE NAME: KITTY HAWK AIRCARGO, INC. CASE NUMBER: 400-42142-BJH-11 DETAILS OF OTHER ITEMS FEBRUARY, 2001 ACCRUAL BASIS-2 13. OTHER (ATTACH LIST) $12,762,891 Reported ------------- Aircraft Expense 2,282,381 Maintenance 3,372,668 Fuel 433,025 Ops Wages 3,574,564 Ops Wages-Grnd 367,764 Ground Handling 676,804 Other Operating Exp 2,055,685 ------------- 12,762,891 Detail ------------- - Difference 16 NON OPERATING INCOME (ATT. LIST) ($2,049)Reported ------------- Non-Op Income (2,049)Detail ------------- - Difference 17 NON OPERATING EXPENSE (ATT. LIST) $0 Reported ------------- Non-Op Expense - Detail ------------- - Difference 21 OTHER (ATTACH LIST) ($4,803,456)Reported ------------- (Gain)/Loss on Sale of Assets 243,352 Credit for Allocation of A/C Costs to KH I/C (5,046,808) ------------- (4,803,456)Detail ------------- - Difference ACCRUAL BASIS-3 8. OTHER (ATTACH LIST) (14,932,327)Reported ------------- Transfer to Inc - all money sweeps (14,932,327)Detail to KH Inc. Case #400-42141 ------------- - Difference -------------
CASE NAME: KITTY HAWK AIRCARGO, INC. FOOTNOTES SUPPLEMENT CASE NUMBER: 400-42142-BJH-11 ACCRUAL BASIS MONTH: FEBRUARY, 2001
ACCRUAL BASIS FORM NUMBER LINE NUMBER FOOTNOTE / EXPLANATION - --------------------------------------------------------------------------------------------------------------- 3 8 All cash received into the subsidiary cash account is swept each night to Kitty Hawk, Inc. Master Account - --------------------------------------------------------------------------------------------------------------- 3 31 All disbursements (either by wire transfer or check), including payroll, are disbursed out of the Kitty Hawk, Inc. controlled disbursement account. - --------------------------------------------------------------------------------------------------------------- 4 6 All assessments of uncollectible accounts receivable are done at Kitty Hawk, Inc. All reserves are recorded at Inc. and pushed down to Inc.'s subsidiaries as deemed necessary. - --------------------------------------------------------------------------------------------------------------- 6 Insiders Payments to insiders include a portion of the Court approved retention payments in the month of January. - --------------------------------------------------------------------------------------------------------------- 7 3 All insurance policies are carried in the name of Kitty Hawk, Inc. and its subsidiaries. Therefore, they are listed here accordingly. - --------------------------------------------------------------------------------------------------------------- 3 3 The current general ledger system is not able to provide a detail of customer cash receipts segregated by prepetition and post petition accounts receivable. - ---------------------------------------------------------------------------------------------------------------
EX-99.3 4 a2043092zex-99_3.txt EX-99.3 EXHIBIT 99.3 MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK CHARTERS, INC. ACCRUAL BASIS CASE NUMBER: 400-42143-BJH 02/13/95, RWD, 2/96 JUDGE: BARBARA J. HOUSER UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF TEXAS SIXTH DIVISION MONTHLY OPERATING REPORT MONTH ENDING: FEBRUARY 28, 2001 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/ Drew Keith Chief Financial Officer ------------------------------------------ -------------------------- ORIGINAL SIGNATURE OF RESPONSIBLE PARTY TITLE Drew Keith 3/20/2001 ------------------------------------------ -------------------------- PRINTED NAME OF RESPONSIBLE PARTY DATE PREPARER: /s/ Jessica L. Wilson Chief Accounting Officer ----------------------------------------- -------------------------- ORIGINAL SIGNATURE OF PREPARER TITLE Jessica L. Wilson 3/20/2001 ----------------------------------------- -------------------------- PRINTED NAME OF PREPARER DATE MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK CHARTERS, INC. ACCRUAL BASIS-1 CASE NUMBER: 400-42143-BJH 02/13/95, RWD, 2/96 COMPARATIVE BALANCE SHEET
SCHEDULE MONTH MONTH MONTH ASSETS AMOUNT January 2001 February 2001 - ------------------------------------------------------------------------------------------------------------------------ 1. UNRESTRICTED CASH $15,476 $41,484 $105,697 $0 2. RESTRICTED CASH $0 $0 3. TOTAL CASH $15,476 $41,484 $105,697 $0 - ------------------------------------------------------------------------------------------------------------------------ 4. ACCOUNTS RECEIVABLE (NET) $13,356,789 $3,303,684 $2,886,626 $0 5. INVENTORY $4,716,172 $4,647,767 $0 6. NOTES RECEIVABLE $0 $0 $0 7. PREPAID EXPENSES $242,964 $163,404 $0 8. OTHER (ATTACH LIST) $37,290,970 $49,413,378 $49,806,264 $0 9. TOTAL CURRENT ASSETS $50,663,235 $57,717,682 $57,609,758 $0 - ------------------------------------------------------------------------------------------------------------------------ 10. PROPERTY, PLANT & EQUIPMENT $17,083,867 $16,843,061 $16,843,061 $0 11. LESS: ACCUMULATED DEPRECIATION / DEPLETION $7,285,387 $7,468,985 $0 12. NET PROPERTY, PLANT & EQUIPMENT $17,083,867 $9,557,674 $9,374,076 $0 - ------------------------------------------------------------------------------------------------------------------------ 13. DUE FROM INSIDERS $0 $0 $0 14. OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) $0 $0 $0 15. OTHER (ATTACH LIST) - ------------------------------------------------------------------------------------------------------------------------ 16. TOTAL ASSETS $67,747,102 $67,275,356 $66,983,834 $0 ======================================================================================================================== POSTPETITION LIABILITIES 17. ACCOUNTS PAYABLE $248,829 $289,606 $0 18. TAXES PAYABLE ($820,669) ($918,266) $0 19. NOTES PAYABLE $0 $0 $0 20. PROFESSIONAL FEES $0 $0 $0 21. SECURED DEBT $0 $0 $0 22. OTHER (ATTACH LIST) $1,541,780 $1,465,544 $0 23. TOTAL POSTPETITION - ------------------------------------------------------------------------------------------------------------------------ LIABILITIES $969,940 $836,884 $0 ======================================================================================================================== PREPETITION LIABILITIES 24. SECURED DEBT $152,776 $67,567 $56,529 $0 25. PRIORITY DEBT $380,384 $0 $0 $0 26. UNSECURED DEBT $10,596,326 $18,176,267 $18,173,450 $0 27. OTHER (ATTACH LIST) $0 $0 $0 28. TOTAL PREPETITION LIABILITIES $11,129,486 $18,243,834 $18,229,979 $0 - ------------------------------------------------------------------------------------------------------------------------ 29. TOTAL LIABILITIES $11,129,486 $19,213,774 $19,066,863 $0 ======================================================================================================================== EQUITY 30. PREPETITION OWNERS' EQUITY $49,811,125 $49,811,125 $0 31. POSTPETITION CUMULATIVE PROFIT OR (LOSS) ($1,749,543) ($1,894,154) $0 32. DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) 33. TOTAL EQUITY $0 $48,061,582 $47,916,971 $0 - ------------------------------------------------------------------------------------------------------------------------ 34. TOTAL LIABILITIES & OWNERS' EQUITY $11,129,486 $67,275,356 $66,983,834 $0 ========================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK CHARTERS, INC. ACCRUAL BASIS-2 CASE NUMBER: 400-42143-BJH 02/13/95, RWD, 2/96 INCOME STATEMENT
MONTH MONTH MONTH QUARTER REVENUES January 2001 February 2001 TOTAL - ------------------------------------------------------------------------------------------------------------------------ 1. GROSS REVENUES $1,303,182 $1,193,073 $0 $2,496,255 2. LESS: RETURNS & DISCOUNTS $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------ 3. NET REVENUE $1,303,182 $1,193,073 $0 $2,496,255 ======================================================================================================================= COST OF GOODS SOLD 4. MATERIAL $0 $0 $0 $0 5. DIRECT LABOR $0 $0 $0 $0 6. DIRECT OVERHEAD $0 $0 $0 $0 7. TOTAL COST OF GOODS SOLD $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------ 8. GROSS PROFIT $1,303,182 $1,193,073 $0 $2,496,255 ======================================================================================================================= OPERATING EXPENSES 9. OFFICER / INSIDER COMPENSATION $10,000 $10,000 $0 $20,000 10. SELLING & MARKETING $0 $0 $0 $0 11. GENERAL & ADMINISTRATIVE $64,290 $58,356 $0 $122,646 12. RENT & LEASE $3,425 $1,915 $0 $5,340 13. OTHER (ATTACH LIST) $1,296,734 $1,166,589 $0 $2,463,323 - ------------------------------------------------------------------------------------------------------------------------ 14. TOTAL OPERATING EXPENSES $1,374,449 $1,236,860 $0 $2,611,309 - ------------------------------------------------------------------------------------------------------------------------ 15. INCOME BEFORE NON-OPERATING INCOME & EXPENSE ($71,267) ($43,787) $0 ($115,054) ======================================================================================================================= OTHER INCOME & EXPENSES 16. NON-OPERATING INCOME (ATT. LIST) $0 $0 $0 $0 17. NON-OPERATING EXPENSE (ATT. LIST) $0 $0 $0 $0 18. INTEREST EXPENSE $1,343 $540 $0 $1,883 19. DEPRECIATION / DEPLETION $175,669 $183,599 $0 $359,268 20. AMORTIZATION $0 $0 $0 $0 21. OTHER (ATTACH LIST) $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------ 22. NET OTHER INCOME & EXPENSES $177,012 $184,139 $0 $361,151 ======================================================================================================================= REORGANIZATION EXPENSES 23. PROFESSIONAL FEES $0 $0 $0 $0 24. U.S. TRUSTEE FEES $0 $0 $0 $0 25. OTHER (ATTACH LIST) $0 $0 $0 $0 26. TOTAL REORGANIZATION EXPENSES $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------ 27. INCOME TAX ($74,102) ($83,315) $0 ($157,417) ======================================================================================================================= 28. NET PROFIT (LOSS) ($174,177) ($144,611) $0 ($318,788) =======================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK CHARTERS, INC. ACCRUAL BASIS-3 CASE NUMBER: 400-42143-BJH 02/13/95, RWD, 2/96
CASH RECEIPTS AND MONTH MONTH MONTH QUARTER DISBURSEMENTS January 2001 February 2001 TOTAL - ------------------------------------------------------------------------------------------------------------------------------------ 1. CASH - BEGINNING OF MONTH $23,477 $41,484 $0 $23,477 - ------------------------------------------------------------------------------------------------------------------------------------ RECEIPTS FROM OPERATIONS 2. CASH SALES $50 $1,918 $0 $1,968 - ------------------------------------------------------------------------------------------------------------------------------------ COLLECTION OF ACCOUNTS RECEIVABLE 3. PREPETITION $0 $0 $0 $0 4. POSTPETITION $2,119,654 $1,620,026 $0 $3,739,680 - ------------------------------------------------------------------------------------------------------------------------------------ 5. TOTAL OPERATING RECEIPTS $2,119,704 $1,621,944 $0 $3,741,648 ==================================================================================================================================== NON - OPERATING RECEIPTS 6. LOANS & ADVANCES (ATTACH LIST) $0 $0 $0 $0 7. SALE OF ASSETS $0 $0 $0 $0 8. OTHER (ATTACH LIST) ($2,101,697) ($1,557,731) $0 ($3,659,428) 9. TOTAL NON-OPERATING RECEIPTS ($2,101,697) ($1,557,731) $0 ($3,659,428) - ------------------------------------------------------------------------------------------------------------------------------------ 10. TOTAL RECEIPTS $18,007 $64,213 $0 $82,220 - ------------------------------------------------------------------------------------------------------------------------------------ 11. TOTAL CASH AVAILABLE $41,484 $105,697 $0 $105,697 ==================================================================================================================================== OPERATING DISBURSEMENTS 12. NET PAYROLL $0 $0 $0 $0 13. PAYROLL TAXES PAID $0 $0 $0 $0 14. SALES, USE & OTHER TAXES PAID $0 $0 $0 $0 15. SECURED / RENTAL / LEASES $0 $0 $0 $0 16. UTILITIES $0 $0 $0 $0 17. INSURANCE $0 $0 $0 $0 18. INVENTORY PURCHASES $0 $0 $0 $0 19. VEHICLE EXPENSES $0 $0 $0 $0 20. TRAVEL $0 $0 $0 $0 21. ENTERTAINMENT $0 $0 $0 $0 22. REPAIRS & MAINTENANCE $0 $0 $0 $0 23. SUPPLIES $0 $0 $0 $0 24. ADVERTISING $0 $0 $0 $0 25. OTHER (ATTACH LIST) $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------------------ 26. TOTAL OPERATING DISBURSEMENTS $0 $0 $0 $0 ==================================================================================================================================== REORGANIZATION EXPENSES 27. PROFESSIONAL FEES $0 $0 $0 $0 28. U.S. TRUSTEE FEES $0 $0 $0 $0 29. OTHER (ATTACH LIST) $0 $0 $0 $0 30. TOTAL REORGANIZATION EXPENSES $0 $0 $0 $0 31. TOTAL DISBURSEMENTS $0 $0 $0 $0 32. NET CASH FLOW $18,007 $64,213 $0 $82,220 - ------------------------------------------------------------------------------------------------------------------------------------ 33. CASH - END OF MONTH $41,484 $105,697 $0 $105,697 ====================================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK CHARTERS, INC. ACCRUAL BASIS-4 CASE NUMBER: 400-42143-BJH 02/13/95, RWD, 2/96
SCHEDULE MONTH MONTH MONTH ACCOUNTS RECEIVABLE AGING AMOUNT January 2001 February 2001 - ----------------------------------------------------------------------------------------------------------------- 1. 0-30 $824,279 $1,255,360 $0 2. 31-60 $948,070 $490,107 $0 3. 61-90 $333,026 $145,181 $0 4. 91+ $1,198,309 $995,978 $0 5. TOTAL ACCOUNTS RECEIVABLE $0 $3,303,684 $2,886,626 $0 - ----------------------------------------------------------------------------------------------------------------- 6. AMOUNT CONSIDERED UNCOLLECTIBLE $0 $0 $0 - ----------------------------------------------------------------------------------------------------------------- 7. ACCOUNTS RECEIVABLE (NET) $0 $3,303,684 $2,886,626 $0 =================================================================================================================
AGING OF POSTPETITION TAXES AND PAYABLES MONTH: February 2001
0-30 31-60 61-90 91+ TAXES PAYABLE DAYS DAYS DAYS DAYS TOTAL - -------------------------------------------------------------------------------------------------------------------------- 1. FEDERAL ($918,894) $0 $0 $0 ($918,894) 2. STATE $628 $0 $0 $0 $628 3. LOCAL $0 $0 $0 $0 $0 4. OTHER (ATTACH LIST) $0 $0 $0 $0 $0 - -------------------------------------------------------------------------------------------------------------------------- 5. TOTAL TAXES PAYABLE ($918,266) $0 $0 $0 ($918,266) ========================================================================================================================== 6. ACCOUNTS PAYABLE $102,017 $23,971 $1,026 $162,592 $289,606 ==========================================================================================================================
STATUS OF POSTPETITION TAXES MONTH: February 2001
BEGINNING AMOUNT ENDING TAX WITHHELD AND/ AMOUNT TAX FEDERAL LIABILITY* 0R ACCRUED PAID LIABILITY - ----------------------------------------------------------------------------------------------------------------------- 1. WITHHOLDING** $0 $166,804 $166,804 $0 2. FICA-EMPLOYEE** $0 $0 $0 $0 3. FICA-EMPLOYER** $0 $0 $0 $0 4. UNEMPLOYMENT $0 $0 $0 $0 5. INCOME ($835,579) ($83,315) $0 ($918,894) 6. OTHER (ATTACH LIST) $0 $0 $0 $0 - ----------------------------------------------------------------------------------------------------------------------- 7. TOTAL FEDERAL TAXES ($835,579) $83,489 $166,804 ($918,894) ======================================================================================================================= STATE AND LOCAL 8. WITHHOLDING $0 $0 $0 $0 9. SALES $323 $0 $0 $323 10. EXCISE $14,587 $17,112 $31,394 $305 11. UNEMPLOYMENT $0 $0 $0 $0 12. REAL PROPERTY $0 $0 $0 $0 13. PERSONAL PROPERTY $0 $0 $0 $0 14. OTHER (ATTACH LIST) $0 $0 $0 $0 15. TOTAL STATE & LOCAL $14,910 $17,112 $31,394 $628 - ----------------------------------------------------------------------------------------------------------------------- 16. TOTAL TAXES ($820,669) $100,601 $198,198 ($918,266) =======================================================================================================================
* 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 CASE NAME: KITTY HAWK CHARTERS, INC. ACCRUAL BASIS-5 CASE NUMBER: 400-42143-BJH 02/13/95, RWD, 2/96 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 2001 BANK RECONCILIATIONS
Account #1 Account #2 Account #3 - --------------------------------------------------------------------------------------------------------------------------- A. BANK: Bank One Sun Trust B. ACCOUNT NUMBER: 100128198 5572932 TOTAL C. PURPOSE (TYPE): Deposit Operating - --------------------------------------------------------------------------------------------------------------------------- 1. BALANCE PER BANK STATEMENT $0 $18,631 $18,631 2. ADD: TOTAL DEPOSITS NOT CREDITED $0 $0 $0 3. SUBTRACT: OUTSTANDING CHECKS $0 $0 $0 4. OTHER RECONCILING ITEMS $71,683 $0 $71,683 5. MONTH END BALANCE PER BOOKS $71,683 $18,631 $0 $90,314 6. NUMBER OF LAST CHECK WRITTEN No checks No checks
INVESTMENT ACCOUNTS
DATE OF TYPE OF PURCHASE CURRENT BANK, ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE - --------------------------------------------------------------------------------------------------------- 7. N/A 8. N/A 9. N/A 10. N/A 11. TOTAL INVESTMENTS $0 $0 CASH - --------------------------------------------------------------------------------------------------------- 12. CURRENCY ON HAND $15,383 - --------------------------------------------------------------------------------------------------------- 13. TOTAL CASH - END OF MONTH 105,697 - ---------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK CHARTERS, INC. ACCRUAL BASIS-6 CASE NUMBER: 400-42143-BJH 02/13/95, RWD, 2/96 MONTH: February 2001 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 - ----------------------------------------------------------------------------- TYPE OF AMOUNT TOTAL PAID NAME PAYMENT PAID TO DATE - ----------------------------------------------------------------------------- 1. Toby Skaar Salary $0 $4,808 2. Doug Kalitta Salary $10,000 $110,000 3. N/A 4. N/A 5. N/A - ----------------------------------------------------------------------------- 6. TOTAL PAYMENTS TO INSIDERS $10,000 $114,808 =============================================================================
PROFESSIONALS - -------------------------------------------------------------------------------------------------------------------------- DATE OF COURT TOTAL ORDER AUTHORIZING AMOUNT AMOUNT TOTAL PAID INCURRED NAME PAYMENT APPROVED PAID TO DATE & UNPAID * - ----------------------- ----------------- -------- ------ ---------- ---------- 1. N/A 2. N/A 3. N/A 4. N/A 5. N/A - -------------------------------------------------------------------------------------------------------------------------- 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
SCHEDULED AMOUNTS MONTHLY PAID TOTAL PAYMENTS DURING UNPAID NAME OF CREDITOR DUE MONTH POSTPETITION - ----------------------------- --------- ------- ------------ 1. GE Capital $11,579 $11,038 $0 2. N/A 3. N/A 4. N/A 5. N/A - ----------------------------------------------------------------------------------------------------- 6. TOTAL $11,579 $11,038 $0 =====================================================================================================
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK CHARTERS, INC. ACCRUAL BASIS-7 CASE NUMBER: 400-42143-BJH 02/13/95, RWD, 2/96 MONTH: February 2001 QUESTIONNAIRE
YES NO ----- ---- - -------------------------------------------------------------------------------------------------------------- 1. HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? X - -------------------------------------------------------------------------------------------------------------- 2. HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? X - -------------------------------------------------------------------------------------------------------------- 3. ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? X - -------------------------------------------------------------------------------------------------------------- 4. HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? X - -------------------------------------------------------------------------------------------------------------- 5. HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? X - -------------------------------------------------------------------------------------------------------------- 6. ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? X - -------------------------------------------------------------------------------------------------------------- 7. ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? X - -------------------------------------------------------------------------------------------------------------- 8. ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? X - -------------------------------------------------------------------------------------------------------------- 9. ARE ANY OTHER POSTPETITION TAXES PAST DUE? X - -------------------------------------------------------------------------------------------------------------- 10. ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? X - -------------------------------------------------------------------------------------------------------------- 11. HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? X - -------------------------------------------------------------------------------------------------------------- 12. ARE ANY WAGE PAYMENTS PAST DUE? X - --------------------------------------------------------------------------------------------------------------
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES," PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY. Item 4 - Payments have been made on the GE Capital Note, secured by one Learjet. INSURANCE
YES NO ----- ---- - -------------------------------------------------------------------------------------------------------------- 1. ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? X - -------------------------------------------------------------------------------------------------------------- 2. ARE ALL PREMIUM PAYMENTS PAID CURRENT? X - -------------------------------------------------------------------------------------------------------------- 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 PAYMENT AMOUNT POLICY CARRIER PERIOD COVERED & FREQUENCY - -------------------------------------- ------- -------------- -------------- See Kitty Hawk, Inc. Case #400-42141
CASE NAME: KITTY HAWK CHARTERS, INC. CASE NUMBER: 400-42143 DETAILS OF OTHER ITEMS ACCRUAL BASIS-1 February 2001
8. OTHER (ATTACH LIST) $ 49,806,264 Reported ------------- Intercompany Receivables 49,275,932 A/R 401(k) Loan (2,931) A/R Employees 5,742 A/R Clothing Sales 31,280 A/R Other 267,277 A/R Aging reconciling item 154,826 A/R Accrued 8,100 Fuel Inventory 9,962 Security Deposit 56,076 ------------- 49,806,264 Detail ------------- - Difference 22. OTHER (ATTACH LIST) $ 1,465,544 Reported ------------- Accrued Maintenance - Accrued charter expenses 644,687 Accrued Salaries/Wages 181,296 Accrued 401(k) 11,598 A/P Aging reconciling item 12,403 Misc 25,865 Accrued Fuel 589,695 ------------- 1,465,544 Detail ------------- - Difference ACCRUAL BASIS-2 13. OTHER (ATTACH LIST) $1,166,589 Reported ------------- Ondemand costs 46,334 135 Airline charter costs 7,638 Parts Lease Fuel 340,059 Wages 506,574 Travel expense 9,482 Insurance 45,766 Rotables/Repair/Consumables 178,328 Shipping 4,595 Charts 3,120 Pre-emp testing 2,075 Shop materials/equip rental 22,618 Maintenance allocation - ------------- 1,166,589 Detail ------------- - Difference ACCRUAL BASIS-3 8. OTHER (ATTACH LIST) (1,557,731)Reported ------------- Credit card charges (7,510) Sweeps to Kitty Hawk, Inc. (1,550,221)Detail ------------- (1,557,731)Detail ------------- - Difference
CASE NAME: KITTY HAWK CHARTERS, INC. FOOTNOTES SUPPLEMENT CASE NUMBER: 400-42143-BJH ACCRUAL BASIS MONTH: February 2001
ACCRUAL BASIS FORM NUMBER LINE NUMBER FOOTNOTE / EXPLANATION - ------------------------------ ----------- ------------------------------------------------------------------------------ 6 All Professional fees related to the Reorganization of the Company are disbursed out of Kitty Hawk, Inc. (Parent Company). Refer to Case # 400-42141 - ------------------------------------------------------------------------------------------------------------------------------ 7 All insurance plans related to the Company are carried at Kitty Hawk, Inc. (Parent Company). Refer to Case # 400-42141. - ------------------------------------------------------------------------------------------------------------------------------ 3 3 The current general ledger system is not able to provide a detail of customer cash receipts segregated by prepetion accounts receivable and post petition accounts receivable. Therefore, cash receipts is provided in total for the month. - ------------------------------------------------------------------------------------------------------------------------------ 3 8 All cash received into the Company cash accounts is swept each night to Kitty Hawk, Inc. Master Account (see Case #400-42141). - ------------------------------------------------------------------------------------------------------------------------------ 3 31 All disbursements (either by wire transfer or check), including payroll are disbursed out of the Kitty Hawk, Inc. controlled disbursement account. - ------------------------------------------------------------------------------------------------------------------------------ 4 6 All assessment of uncollectible accounts receivable are done at Kitty Hawk, Inc. Refer to Case #400-4214. All reserves are recorded at Inc. and pushed down to Inc.'s subsidiaries as deemed necessary. - ------------------------------------------------------------------------------------------------------------------------------ 4 6 Accounts payable on the aging are in the 60 and 90 day categories due to wire transfers sent as prepayment on Kitty Hawk Inc. (Case #400-42141) A/P aging and invoices on Kitty Hawk Charters Aging. Company is working on clearing these items. - ------------------------------------------------------------------------------------------------------------------------------ 3 28 All payments are made by Kitty Hawk, Inc. (Case #400-42141) - ------------------------------------------------------------------------------------------------------------------------------
EX-99.4 5 a2043092zex-99_4.txt EX-99.4 EXHIBIT 99.4 MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK INTERNATIONAL, INC. ACCRUAL BASIS CASE NUMBER: 400-42144 02/13/95, RWD, 2/96 JUDGE: BARBARA J. HOUSER UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF TEXAS SIXTH DIVISION MONTHLY OPERATING REPORT MONTH ENDING: FEBRUARY 28, 2001 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/ Drew Keith Chief Financial Officer ------------------------------------------- ----------------------- ORIGINAL SIGNATURE OF RESPONSIBLE PARTY TITLE Drew Keith 3/20/2001 ------------------------------------------- ----------------------- PRINTED NAME OF RESPONSIBLE PARTY DATE PREPARER: /s/ Jessica L. Wilson Chief Accounting Officer ------------------------------------------- ----------------------- ORIGINAL SIGNATURE OF PREPARER TITLE Jessica L. Wilson 3/20/2001 ------------------------------------------- ----------------------- PRINTED NAME OF PREPARER DATE MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK INTERNATIONAL, INC. ACCRUAL BASIS-1 CASE NUMBER: 400-42144 02/13/95, RWD, 2/96 COMPARATIVE BALANCE SHEET
- ------------------------------------------------------------------------------------------------------------- SCHEDULE MONTH MONTH MONTH ------------ ------------- AMOUNT January 2001 February 2001 ASSETS - ------------------------------------------------------------------------------------------------------------- 1. UNRESTRICTED CASH $ 40,098 $ 0 $ 0 $ 0 2. RESTRICTED CASH $ 18,200,875 $ 18,473,769 $ 0 3. TOTAL CASH $ 40,098 $ 18,200,875 $ 18,473,769 $ 0 - ------------------------------------------------------------------------------------------------------------- 4. ACCOUNTS RECEIVABLE (NET) $ 9,006,275 $ 7,355,289 $ 7,295,644 $ 0 5. INVENTORY $ 20,429,725 $ 0 $ 0 $ 0 6. NOTES RECEIVABLE $ 6,000,000 $ 6,000,000 $ 0 7. PREPAID EXPENSES $ 70,714 $ 254,570 $ 0 8. OTHER (ATTACH LIST) $ 21,367,511 ($352,832,051) ($353,252,999) $ 0 9. TOTAL CURRENT ASSETS $ 50,843,609 ($321,205,173) ($321,229,016) $ 0 - ------------------------------------------------------------------------------------------------------------- 10. PROPERTY, PLANT & EQUIPMENT $ 474,988,760 $ 520,767,098 $ 520,767,098 11. LESS: ACCUMULATED DEPRECIATION / DEPLETION $ 439,236,027 $ 439,236,027 12. NET PROPERTY, PLANT & EQUIPMENT $ 474,988,760 $ 81,531,071 $ 81,531,071 $ 0 - ------------------------------------------------------------------------------------------------------------- 13. DUE FROM INSIDERS $ 0 $ 0 $ 0 14. OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) $ 0 $ 0 $ 0 15. OTHER (ATTACH LIST) $ 0 $ 0 $ 0 - ------------------------------------------------------------------------------------------------------------- 16. TOTAL ASSETS $ 525,832,369 ($239,674,102) ($239,697,945) $ 0 ============================================================================================================= POSTPETITION LIABILITIES 17. ACCOUNTS PAYABLE $ 76,028 $ 56,983 $ 0 18. TAXES PAYABLE $ 0 $ 0 $ 0 19. NOTES PAYABLE $ 0 $ 0 $ 0 20. PROFESSIONAL FEES $ 0 $ 0 $ 0 21. SECURED DEBT $ 0 $ 0 $ 0 22. OTHER (ATTACH LIST) ($148,779,545) ($148,766,054) $ 0 - ------------------------------------------------------------------------------------------------------------- 23. TOTAL POSTPETITION LIABILITIES ($148,703,517) ($148,709,071) $ 0 ============================================================================================================= PREPETITION LIABILITIES 24. SECURED DEBT $ 23,187,921 $ 22,251,961 $ 22,234,734 $ 0 25. PRIORITY DEBT $ 4,672,323 $ 0 $ 0 $ 0 26. UNSECURED DEBT $ 392,188,633 $ 17,760,068 $ 17,760,068 $ 0 27. OTHER (ATTACH LIST) $ 76,011,020 $ 76,011,020 28. TOTAL PREPETITION LIABILITIES $ 420,048,877 $ 116,023,049 $ 116,005,822 $ 0 - ------------------------------------------------------------------------------------------------------------- 29. TOTAL LIABILITIES $ 420,048,877 ($ 32,680,468) ($ 32,703,249) $ 0 ============================================================================================================= EQUITY 30. PREPETITION OWNERS' EQUITY $ 16,327,446 $ 16,327,446 $ 0 31. POSTPETITION CUMULATIVE PROFIT OR (LOSS) ($223,321,080) ($223,322,142) $ 0 32. DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) 33. TOTAL EQUITY $ 0 ($206,993,634) ($206,994,696) $ 0 - ------------------------------------------------------------------------------------------------------------- 34. TOTAL LIABILITIES & OWNERS' EQUITY $ 420,048,877 ($239,674,102) ($239,697,945) $ 0 =============================================================================================================
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK INTERNATIONAL, INC. ACCRUAL BASIS-2 CASE NUMBER: 400-42144 02/13/95, RWD, 2/96 INCOME STATEMENT
- -------------------------------------------------------------------------------------------------------------------------- MONTH MONTH MONTH QUARTER ------------ ------------ January 2001 February 2001 TOTAL REVENUES 1. GROSS REVENUES $192,875 $187,500 $0 $380,375 2. LESS: RETURNS & DISCOUNTS $0 $0 $0 $0 - -------------------------------------------------------------------------------------------------------------------------- 3. NET REVENUE $192,875 $187,500 $0 $380,375 ========================================================================================================================== COST OF GOODS SOLD 4. MATERIAL $0 $0 $0 $0 5. DIRECT LABOR $0 $0 $0 $0 6. DIRECT OVERHEAD $0 $0 $0 $0 7. TOTAL COST OF GOODS SOLD $0 $0 $0 $0 - -------------------------------------------------------------------------------------------------------------------------- 8. GROSS PROFIT $192,875 $187,500 $0 $380,375 ========================================================================================================================== OPERATING EXPENSES 9. OFFICER / INSIDER COMPENSATION $0 $0 $0 $0 10. SELLING & MARKETING $0 $0 $0 $0 11. GENERAL & ADMINISTRATIVE $47,090 $75,308 $0 $122,398 12. RENT & LEASE ($7,446) ($10,334) $0 ($17,780) 13. OTHER (ATTACH LIST) $0 $0 $0 $0 14. TOTAL OPERATING EXPENSES $39,644 $64,974 $0 $104,618 - -------------------------------------------------------------------------------------------------------------------------- 15. INCOME BEFORE NON-OPERATING INCOME & EXPENSE $153,231 $122,526 $0 $275,757 ========================================================================================================================== OTHER INCOME & EXPENSES 16. NON-OPERATING INCOME (ATT. LIST) $0 $0 $0 17. NON-OPERATING EXPENSE (ATT. LIST) $0 $0 $0 $0 18. INTEREST EXPENSE $747 $381 $0 $1,128 19. DEPRECIATION / DEPLETION $0 $0 $0 $0 20. AMORTIZATION $23,826 $7,942 $0 $31,768 21. OTHER (ATTACH LIST) ($93,196) ($81,584) $0 ($174,780) - -------------------------------------------------------------------------------------------------------------------------- 22. NET OTHER INCOME & EXPENSES ($68,623) ($73,261) $0 ($141,884) ========================================================================================================================== REORGANIZATION EXPENSES 23. PROFESSIONAL FEES $161,731 $197,558 $0 $359,289 24. U.S. TRUSTEE FEES $0 $0 $0 $0 25. OTHER (ATTACH LIST) $0 $0 $0 $0 26. TOTAL REORGANIZATION EXPENSES $161,731 $197,558 $0 $359,289 - -------------------------------------------------------------------------------------------------------------------------- 27. INCOME TAX $24,049 ($709) $0 $23,340 ========================================================================================================================== 28. NET PROFIT (LOSS) $36,074 ($1,062) $0 $35,012 ==========================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK INTERNATIONAL, INC. ACCRUAL BASIS-3 CASE NUMBER: 400-42144 02/13/95, RWD, 2/96
MONTH MONTH MONTH QUARTER ------------ ------------ January 2001 February 2001 TOTAL CASH RECEIPTS AND DISBURSEMENTS - --------------------------------------------------------------------------------------------------------------------- 1. CASH - BEGINNING OF MONTH $0 $0 $0 - --------------------------------------------------------------------------------------------------------------------- RECEIPTS FROM OPERATIONS 2. CASH SALES $0 $0 $0 $0 - --------------------------------------------------------------------------------------------------------------------- COLLECTION OF ACCOUNTS RECEIVABLE 3. PREPETITION $0 $0 $0 $0 4. POSTPETITION $12,003 $5,000 $0 $17,003 - --------------------------------------------------------------------------------------------------------------------- 5. TOTAL OPERATING RECEIPTS $12,003 $5,000 $0 $17,003 ===================================================================================================================== NON - OPERATING RECEIPTS 6. LOANS & ADVANCES (ATTACH LIST) $0 $0 $0 $0 7. SALE OF ASSETS $0 $0 $0 $0 8. OTHER (ATTACH LIST) ($12,003) ($5,000) $0 ($17,003) 9. TOTAL NON-OPERATING RECEIPTS ($12,003) ($5,000) $0 ($17,003) - --------------------------------------------------------------------------------------------------------------------- 10. TOTAL RECEIPTS $0 $0 $0 $0 - --------------------------------------------------------------------------------------------------------------------- 11. TOTAL CASH AVAILABLE $0 $0 $0 $0 ===================================================================================================================== OPERATING DISBURSEMENTS 12. NET PAYROLL $0 $0 $0 $0 13. PAYROLL TAXES PAID $0 $0 $0 $0 14. SALES, USE & OTHER TAXES PAID $0 $0 $0 $0 15. SECURED / RENTAL / LEASES $0 $0 $0 $0 16. UTILITIES $0 $0 $0 $0 17. INSURANCE $0 $0 $0 $0 18. INVENTORY PURCHASES $0 $0 $0 $0 19. VEHICLE EXPENSES $0 $0 $0 $0 20. TRAVEL $0 $0 $0 $0 21. ENTERTAINMENT $0 $0 $0 $0 22. REPAIRS & MAINTENANCE $0 $0 $0 $0 23. SUPPLIES $0 $0 $0 $0 24. ADVERTISING $0 $0 $0 $0 25. OTHER (ATTACH LIST) $0 $0 $0 $0 - --------------------------------------------------------------------------------------------------------------------- 26. TOTAL OPERATING DISBURSEMENTS $0 $0 $0 $0 ===================================================================================================================== REORGANIZATION EXPENSES 27. PROFESSIONAL FEES $0 $0 $0 $0 28. U.S. TRUSTEE FEES $0 $0 $0 $0 29. OTHER (ATTACH LIST) $0 $0 $0 $0 30. TOTAL REORGANIZATION EXPENSES $0 $0 $0 $0 31. TOTAL DISBURSEMENTS $0 $0 $0 $0 32. NET CASH FLOW $0 $0 $0 $0 - --------------------------------------------------------------------------------------------------------------------- 33. CASH - END OF MONTH $0 $0 $0 $0 =====================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK INTERNATIONAL, INC. ACCRUAL BASIS-4 CASE NUMBER: 400-42144 02/13/95, RWD, 2/96
SCHEDULE MONTH MONTH MONTH ------------- ------------- ACCOUNTS RECEIVABLE AGING AMOUNT January 2001 February 2001 - ------------------------------------------------------------------------------------------------------------------ 1. 0-30 $27,441 ($1,825) $0 2. 31-60 ($16,000) $0 $0 3. 61-90 $0 $0 $0 4. 91+ $7,343,848 $7,297,469 $0 5. TOTAL ACCOUNTS RECEIVABLE $0 $7,355,289 $7,295,644 $0 - ------------------------------------------------------------------------------------------------------------------ 6. AMOUNT CONSIDERED UNCOLLECTIBLE $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------ 7. ACCOUNTS RECEIVABLE (NET) $0 $7,355,289 $7,295,644 $0 ================================================================================================================== AGING OF POSTPETITION TAXES AND PAYABLES MONTH: February 2001 0-30 31-60 61-90 91+ TAXES PAYABLE DAYS DAYS DAYS DAYS TOTAL 1. FEDERAL $0 $0 $0 $0 $0 2. STATE $0 $0 $0 $0 $0 3. LOCAL $0 $0 $0 $0 $0 4. OTHER (ATTACH LIST) $0 $0 $0 $0 $0 - ----------------------------------------------------------------------------------------------------------------------- 5. TOTAL TAXES PAYABLE $0 $0 $0 $0 $0 ======================================================================================================================= 6. ACCOUNTS PAYABLE ($10,289) $3,000 $0 $64,272 $56,983 ======================================================================================================================= STATUS OF POSTPETITION TAXES MONTH: February 2001 BEGINNING AMOUNT ENDING TAX WITHHELD AND/ AMOUNT TAX LIABILITY* 0R ACCRUED PAID LIABILITY FEDERAL - ---------------------------------------------------------------------------------------------------------------------- 1. WITHHOLDING** $0 $6,552 $6,552 $0 2. FICA-EMPLOYEE** $0 $0 $0 $0 3. FICA-EMPLOYER** $0 $0 $0 $0 4. UNEMPLOYMENT $0 $0 $0 $0 5. INCOME $0 $0 $0 $0 6. OTHER (ATTACH LIST) $0 $0 $0 $0 - -------------------------------------------------------------------------------------------------------------------- 7. TOTAL FEDERAL TAXES $0 $6,552 $6,552 $0 ==================================================================================================================== STATE AND LOCAL 8. WITHHOLDING $0 $0 $0 $0 9. SALES $0 $0 $0 $0 10. EXCISE $0 $0 $0 $0 11. UNEMPLOYMENT $0 $0 $0 $0 12. REAL PROPERTY $0 $0 $0 $0 13. PERSONAL PROPERTY $0 $0 $0 $0 14. OTHER (ATTACH LIST) $0 $0 $0 $0 15. TOTAL STATE & LOCAL $0 $0 $0 $0 - -------------------------------------------------------------------------------------------------------------------- 16. TOTAL TAXES $0 $6,552 $6,552 $0 ====================================================================================================================
* 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 CASE NAME: KITTY HAWK INTERNATIONAL, INC. ACCRUAL BASIS-5 CASE NUMBER: 400-42144 02/13/95, RWD, 2/96 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 2001 BANK RECONCILIATIONS Account #1 Account #2 Account #3 - --------------------------------------------------------------------------------------------------------------------------------- A. BANK: Bank One Bank One Bank One B. ACCOUNT NUMBER: 1559691322 1559691330 9320014690 TOTAL C. PURPOSE (TYPE): Deposit Payroll Health Insurance - --------------------------------------------------------------------------------------------------------------------------------- 1. BALANCE PER BANK STATEMENT $0 $0 $0 $0 2. ADD: TOTAL DEPOSITS NOT CREDITED $0 $0 $0 $0 3. SUBTRACT: OUTSTANDING CHECKS $0 $0 $0 $0 4. OTHER RECONCILING ITEMS $0 $0 $0 $0 5. MONTH END BALANCE PER BOOKS $0 $0 $0 $0 6. NUMBER OF LAST CHECK WRITTEN N/A - Lockbox only No activity Account closed INVESTMENT ACCOUNTS DATE OF TYPE OF PURCHASE CURRENT BANK, ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE - --------------------------------------------------------------------------------------------------------------------------------- 7. N/A 8. N/A 9. N/A 10. N/A 11. TOTAL INVESTMENTS $0 $0 CASH 12. CURRENCY ON HAND $0 - --------------------------------------------------------------------------------------------------------------------------------- 13. TOTAL CASH - END OF MONTH $0 - ---------------------------------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK INTERNATIONAL, INC. ACCRUAL BASIS-6 CASE NUMBER: 400-42144 02/13/95, RWD, 2/96 MONTH: February 2001 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 - ----------------------------------------------------------------------------- TYPE OF AMOUNT TOTAL PAID NAME PAYMENT PAID TO DATE - ----------------------------------------------------------------------------- 1. Pete Sanderlin Salary $0 $17,200 2. Tom Mealie Salary $0 $17,200 3. N/A 4. N/A 5. N/A - ----------------------------------------------------------------------------- 6. TOTAL PAYMENTS TO INSIDERS $0 $34,400 ============================================================================= PROFESSIONALS DATE OF COURT TOTAL ORDER AUTHORIZING AMOUNT AMOUNT TOTAL PAID INCURRED NAME PAYMENT APPROVED PAID TO DATE & UNPAID * - ---------------------------------------------------------------------------------------------------------------- 1. N/A 2. N/A 3. N/A 4. N/A 5. N/A - ---------------------------------------------------------------------------------------------------------------- 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
SCHEDULED AMOUNTS MONTHLY PAID TOTAL PAYMENTS DURING UNPAID NAME OF CREDITOR DUE MONTH POSTPETITION - -------------------------------------------------------------------------------------------------- 1. GE Capital $855 $855 $0 2. GE Capital $784 $1,568 $0 3. GE Capital varies $14,802 $0 4. N/A $0 $0 5. N/A $0 - -------------------------------------------------------------------------------------------------- 6 TOTAL $1,639 $17,225 $0 ==================================================================================================
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK INTERNATIONAL, INC. ACCRUAL BASIS-7 CASE NUMBER: 400-42144 02/13/95, RWD, 2/96 MONTH: February 2001
QUESTIONNAIRE - ----------------------------------------------------------------------------------------------------------- YES NO - ----------------------------------------------------------------------------------------------------------- 1. HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? X - ----------------------------------------------------------------------------------------------------------- 2. HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? X - ----------------------------------------------------------------------------------------------------------- 3. ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? X - ----------------------------------------------------------------------------------------------------------- 4. HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? X - ----------------------------------------------------------------------------------------------------------- 5. HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? X - ----------------------------------------------------------------------------------------------------------- 6. ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? X - ----------------------------------------------------------------------------------------------------------- 7. ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? X - ----------------------------------------------------------------------------------------------------------- 8. ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? X - ----------------------------------------------------------------------------------------------------------- 9. ARE ANY OTHER POSTPETITION TAXES PAST DUE? X - ----------------------------------------------------------------------------------------------------------- 10. ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? X - ----------------------------------------------------------------------------------------------------------- 11. HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? X - ----------------------------------------------------------------------------------------------------------- 12. ARE ANY WAGE PAYMENTS PAST DUE? X - -----------------------------------------------------------------------------------------------------------
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES," PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY. - ------------------------------------------------------------------------------- Item 10 - there are equipment lease payments due 5/00 and 6/00 still outstanding. These will be settled upon acceptance/rejection of leases. - ------------------------------------------------------------------------------- Item 4 - In February GE Capital was paid for debt outstanding as equipment was located and used in operations.
INSURANCE YES NO - --------------------------------------------------------------------------------------------------------------------------- 1. ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? X - --------------------------------------------------------------------------------------------------------------------------- 2. ARE ALL PREMIUM PAYMENTS PAID CURRENT? X - --------------------------------------------------------------------------------------------------------------------------- 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 PAYMENT AMOUNT POLICY CARRIER PERIOD COVERED & FREQUENCY - --------------------------------------------------------------------------------------------------------------------------- See Kitty Hawk, Inc. Case #400-42141
CASE NAME: KITTY HAWK INTERNATIONAL, INC. CASE NUMBER: 400-42144 DETAILS OF OTHER ITEMS
ACCRUAL BASIS-1 February 2001 8. OTHER (ATTACH LIST) $ (353,252,999)Reported -------------- Intercompany Receivables (368,988,905) A/R Senior Noteholders 596,078 A/R 401(k) Loan (4,535) A/R Insurance 133,954 A/R Auction Proceeds 15,540 A/R Aging Reconciling item 39,789 Deferred Taxes 13,097,746 Aircraft held for resale 699,701 Loan Org Costs 79,420 Deposits - Landing Fees - Deposits - Aircraft 434,321 Deposits - Rent 218,828 Security Deposit 425,064 -------------- (353,252,999)Detail -------------- - Difference 22. OTHER (ATTACH LIST) $ (148,766,054)Reported -------------- Accrued income taxes (148,881,412) Accrued Misc 89,659 A/P Reconciling Item 14,199 Accrued Fuel 11,500 -------------- (148,766,054)Detail -------------- - Difference 27. OTHER (ATTACH LIST) $ 76,011,020 Reported -------------- Deferred Taxes 87,246,212 Accrued Taxes payable (18,954,646) Aircraft Maintenance Reserves - Accrued Fuel expenses 5,403,028 Prepaid Fuel (5,661,963) Accrued Salaries/Vacation/Employee Benefits 4,075,349 Uncleared 4/28/00 Payroll Checks 66,601 A/P Other/Accrued/Unrecorded (239,466) Purchase reserves 1,762,176
CASE NAME: KITTY HAWK INTERNATIONAL, INC. CASE NUMBER: 400-42144 DETAILS OF OTHER ITEMS Accrued Landing fees/parking/cargo fees 1,644,307 Various accrued taxes 1,313,200 Other Misc accruals (643,778) -------------- 76,011,020 Detail -------------- - Differnece ACCRUAL BASIS-2 21 NON-OPERATING INCOME (ATT. LIST) ($81,584)Reported -------------- Interest income on restricted cash investments (84,383) Loss on asset sale 2,799 -------------- (81,584)Detail -------------- - Difference ACCRUAL BASIS-3 8. OTHER (ATTACH LIST) (5,000)Reported -------------- Transfer to Inc - all money sweeps (5,000)Detail to KH Inc. Case #400-42141 -------------- - Difference
CASE NAME: KITTY HAWK INTERNATIONAL, INC. FOOTNOTES SUPPLEMENT CASE NUMBER: 400-42144 ACCRUAL BASIS MONTH: February 2001
ACCRUAL BASIS LINE NUMBER FOOTNOTE / EXPLANATION FORM NUMBER - ----------------------------------------------------------------------------------------------------------------------- 6 All Professional fees related to the Reorganization of the Company are disbursed out of Kitty Hawk, Inc. (Parent Company). Refer to Case # 400-42141 - ----------------------------------------------------------------------------------------------------------------------- 7 All insurance plans related to the Company are carried at Kitty Hawk, Inc. (Parent Company). Refer to Case # 400-42141. - ----------------------------------------------------------------------------------------------------------------------- General This operation closed in May of 2000. Costs incurred during January 2001 consisted of costs associated with shut down procedures and maintaining collateral. - ----------------------------------------------------------------------------------------------------------------------- 3 8 All cash received into the Company cash accounts is swept each night to Kitty Hawk, Inc. Master Account (see Case #400-42141). - ----------------------------------------------------------------------------------------------------------------------- 3 31 All disbursements (either by wire transfer or check), including payroll, are disbursed out of the Kitty Hawk, Inc. controlled disbursement account. - ----------------------------------------------------------------------------------------------------------------------- 4 6 All assessments of uncollectible accounts receivable are done at Kitty Hawk, Inc. Refer to Case #400-4214. All reserves are recorded at Inc. and pushed down to Inc.'s subsidiaries as deemed necessary. - ----------------------------------------------------------------------------------------------------------------------- 3 28 All payments are made by Kitty Hawk, Inc. (Case #400-42141) - ----------------------------------------------------------------------------------------------------------------------- 6 General The monthly GE Capital payments in the last year of the scheduled payments are significantly less than payments previously made. - -----------------------------------------------------------------------------------------------------------------------
EX-99.5 6 a2043092zex-99_5.txt EX-99.5 EXHIBIT 99.5 MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK CARGO, INC. ACCRUAL BASIS CASE NUMBER: 400-42145-BJH-11 02/13/95, RWD, 2/96 JUDGE: BARBARA J. HOUSER UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF TEXAS SIXTH DIVISION MONTHLY OPERATING REPORT MONTH ENDING: FEBRUARY 28, 2001 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/ Drew Keith CHIEF FINANCIAL OFFICER ---------------------------------------------- --------------------------------------------- ORIGINAL SIGNATURE OF RESPONSIBLE PARTY TITLE DREW KEITH 3/20/01 ---------------------------------------------- --------------------------------------------- PRINTED NAME OF RESPONSIBLE PARTY DATE PREPARER: /s/ Kevin K. Craig CONTROLLER, KITTY HAWK INC. ---------------------------------------------- --------------------------------------------- ORIGINAL SIGNATURE OF PREPARER TITLE KEVIN K. CRAIG 3/20/01 ---------------------------------------------- --------------------------------------------- PRINTED NAME OF PREPARER DATE - ------------------------------------------------------------------------------------------------------------------------------------
Monthly Operating Report CASE NAME: KITTY HAWK CARGO, INC ACCRUAL BASIS-1 CASE NUMBER: 400-42145-BJH-11 02/13/95, RWD, 2/96 COMPARATIVE BALANCE SHEET
SCHEDULE MONTH MONTH MONTH ------------- -------------- ASSETS AMOUNT JANUARY, 2001 FEBRUARY, 2001 - ----------------------------------------------------------------------------------------------------------------------------------- 1. UNRESTRICTED CASH $9,035 $10,705 2. RESTRICTED CASH $0 $0 3. TOTAL CASH $0 $9,035 $10,705 $0 - ------------------------------------------------------------------------------------------------------------------------------------ 4. ACCOUNTS RECEIVABLE (NET) $41,314,895 $30,272,852 $27,610,523 5. INVENTORY $0 $0 6. NOTES RECEIVABLE $0 $0 7. PREPAID EXPENSES $35,445 $0 $0 8. OTHER (ATTACH LIST) $102,257,281 $33,328,712 $33,271,998 9. TOTAL CURRENT ASSETS $143,607,621 $63,610,599 $60,893,226 $0 - ------------------------------------------------------------------------------------------------------------------------------------ 10. PROPERTY, PLANT & EQUIPMENT $2,455,211 $4,677,221 $4,698,156 11. LESS: ACCUMULATED DEPRECIATION / DEPLETION $2,498,915 $2,550,053 12. NET PROPERTY, PLANT & EQUIPMENT $2,455,211 $2,178,306 $2,148,103 $0 - ------------------------------------------------------------------------------------------------------------------------------------ 13. DUE FROM INSIDERS $0 $0 $0 14. OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) $0 $0 $0 15. OTHER (ATTACH LIST) $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------------------ 16. TOTAL ASSETS $146,062,832 $65,788,905 $63,041,329 $0 ==================================================================================================================================== POSTPETITION LIABILITIES 17. ACCOUNTS PAYABLE $715,609 $1,074,945 18. TAXES PAYABLE $838,121 $791,336 19. NOTES PAYABLE $0 $0 20. PROFESSIONAL FEES $0 $0 21. SECURED DEBT $0 $0 22. OTHER (ATTACH LIST) ($2,226,007) ($3,322,930) - ------------------------------------------------------------------------------------------------------------------------------------ 23. TOTAL POSTPETITION LIABILITIES ($672,277) ($1,456,649) $0 ==================================================================================================================================== PREPETITION LIABILITIES 24. SECURED DEBT $0 $0 25. PRIORITY DEBT $496,687 $0 $0 26. UNSECURED DEBT $78,864,376 $5,091,940 $5,091,940 27. OTHER (ATTACH LIST) $5,272,081 $5,270,345 28. TOTAL PREPETITION LIABILITIES $79,361,063 $10,364,021 $10,362,285 $0 - ------------------------------------------------------------------------------------------------------------------------------------ 29. TOTAL LIABILITIES $79,361,063 $9,691,744 $8,905,636 $0 ==================================================================================================================================== EQUITY 30. PREPETITION OWNERS' EQUITY $61,869,075 $61,869,075 31. POSTPETITION CUMULATIVE PROFIT OR (LOSS) ($5,771,914) ($7,733,382) 32. DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) $0 $0 33. TOTAL EQUITY $0 $56,097,161 $54,135,693 $0 - ------------------------------------------------------------------------------------------------------------------------------------ 34. TOTAL LIABILITIES & OWNERS' EQUITY $79,361,063 $65,788,905 $63,041,329 $0 ==================================================================================================================================== $0 $0 $0
Monthly Operating Report CASE NAME: KITTY HAWK CARGO, INC ACCRUAL BASIS-2 CASE NUMBER: 400-42145-BJH-11 02/13/95, RWD, 2/96
INCOME STATEMENT MONTH MONTH MONTH QUARTER ------------- -------------- REVENUES JANUARY, 2001 FEBRUARY, 2001 TOTAL - ----------------------------------------------------------------------------------------------------------------------------------- 1. GROSS REVENUES $14,012,208 $11,920,669 $25,932,877 2. LESS: RETURNS & DISCOUNTS $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------------------ 3. NET REVENUE $14,012,208 $11,920,669 $0 $25,932,877 ==================================================================================================================================== COST OF GOODS SOLD 4. MATERIAL $0 $0 $0 5. DIRECT LABOR $0 $0 $0 6. DIRECT OVERHEAD $0 $0 $0 7. TOTAL COST OF GOODS SOLD $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------------------ 8. GROSS PROFIT $14,012,208 $11,920,669 $0 $25,932,877 ==================================================================================================================================== OPERATING EXPENSES 9. OFFICER / INSIDER COMPENSATION $26,667 $26,667 $53,334 10. SELLING & MARKETING $5,356 $19,243 $24,599 11. GENERAL & ADMINISTRATIVE $1,863,762 $1,357,252 $3,221,014 12. RENT & LEASE $284,483 $295,771 $580,254 13. OTHER (ATTACH LIST) $13,268,337 $13,275,963 $26,544,300 - ------------------------------------------------------------------------------------------------------------------------------------ 14. TOTAL OPERATING EXPENSES $15,448,605 $14,974,896 $0 $30,423,501 - ------------------------------------------------------------------------------------------------------------------------------------ 15. INCOME BEFORE NON-OPERATING INCOME & EXPENSE ($1,436,397) ($3,054,227) $0 ($4,490,624) ==================================================================================================================================== OTHER INCOME & EXPENSES 16. NON-OPERATING INCOME (ATT. LIST) $0 $0 $0 17. NON-OPERATING EXPENSE (ATT. LIST) $0 $0 $0 18. INTEREST EXPENSE $194,856 $163,747 $358,603 19. DEPRECIATION / DEPLETION $50,786 $51,138 $101,924 20. AMORTIZATION $0 $0 $0 21. OTHER (ATTACH LIST) $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------------------ 22. NET OTHER INCOME & EXPENSES $245,642 $214,885 $0 $460,527 ==================================================================================================================================== REORGANIZATION EXPENSES 23. PROFESSIONAL FEES $0 $0 $0 24. U.S. TRUSTEE FEES $0 $0 $0 25. OTHER (ATTACH LIST) $0 $0 $0 26. TOTAL REORGANIZATION EXPENSES $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------------------ 27. INCOME TAX ($672,819) ($1,307,644) ($1,980,463) ==================================================================================================================================== 28. NET PROFIT (LOSS) ($1,009,220) ($1,961,468) $0 ($2,970,688) ====================================================================================================================================
Monthly Operating Report CASE NAME: KITTY HAWK CARGO, INC ACCRUAL BASIS-3 CASE NUMBER: 400-42145-BJH-11 02/13/95, RWD, 2/96
- ----------------------------------------------------------------------------------------------------------------------------------- CASH RECEIPTS AND MONTH MONTH MONTH QUARTER ------------- -------------- DISBURSEMENTS JANUARY, 2001 FEBRUARY, 2001 TOTAL - ----------------------------------------------------------------------------------------------------------------------------------- 1. CASH - BEGINNING OF MONTH $6,500 $9,035 $6,500 - ------------------------------------------------------------------------------------------------------------------------------------ RECEIPTS FROM OPERATIONS 2. CASH SALES $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------------------ COLLECTION OF ACCOUNTS RECEIVABLE 3. PREPETITION $0 $0 $0 4. POSTPETITION $11,033,780 $11,481,967 $22,515,747 - ------------------------------------------------------------------------------------------------------------------------------------ 5. TOTAL OPERATING RECEIPTS $11,033,780 $11,481,967 $0 $22,515,747 ==================================================================================================================================== NON - OPERATING RECEIPTS 6. LOANS & ADVANCES (ATTACH LIST) $0 $0 $0 7. SALE OF ASSETS $0 $0 $0 8. OTHER (ATTACH LIST) ($11,031,245) ($11,480,297) ($22,511,542) 9. TOTAL NON-OPERATING RECEIPTS ($11,031,245) ($11,480,297) $0 ($22,511,542) - ------------------------------------------------------------------------------------------------------------------------------------ 10. TOTAL RECEIPTS $2,535 $1,670 $0 $4,205 - ------------------------------------------------------------------------------------------------------------------------------------ 11. TOTAL CASH AVAILABLE $9,035 $10,705 $0 $10,705 ==================================================================================================================================== OPERATING DISBURSEMENTS 12. NET PAYROLL $0 13. PAYROLL TAXES PAID $0 14. SALES, USE & OTHER TAXES PAID $0 15. SECURED / RENTAL / LEASES $0 16. UTILITIES $0 17. INSURANCE $0 18. INVENTORY PURCHASES $0 19. VEHICLE EXPENSES $0 20. TRAVEL $0 21. ENTERTAINMENT $0 22. REPAIRS & MAINTENANCE $0 23. SUPPLIES $0 24. ADVERTISING $0 25. OTHER (ATTACH LIST) $0 - ------------------------------------------------------------------------------------------------------------------------------------ 26. TOTAL OPERATING DISBURSEMENTS $0 $0 $0 $0 ==================================================================================================================================== REORGANIZATION EXPENSES 27. PROFESSIONAL FEES $0 28. U.S. TRUSTEE FEES $0 29. OTHER (ATTACH LIST) $0 30. TOTAL REORGANIZATION EXPENSES $0 $0 $0 $0 31. TOTAL DISBURSEMENTS $0 $0 $0 $0 32. NET CASH FLOW $2,535 $1,670 $0 $4,205 - ------------------------------------------------------------------------------------------------------------------------------------ 33. CASH - END OF MONTH $9,035 $10,705 $0 $10,705 ====================================================================================================================================
Monthly Operating Report CASE NAME: KITTY HAWK CARGO, INC ACCRUAL BASIS-4 CASE NUMBER: 400-42145-BJH-11 02/13/95, RWD, 2/96
SCHEDULE MONTH MONTH MONTH ------------- -------------- ACCOUNTS RECEIVABLE AGING AMOUNT JANUARY, 2001 FEBRUARY, 2001 - ----------------------------------------------------------------------------------------------------------------------------------- 1. 0-30 $21,518,319 $20,470,017 $18,522,482 2. 31-60 $14,127,296 $2,096,931 $1,262,022 3. 61-90 $2,070,404 $350,638 $594,885 4. 91+ $3,598,876 $6,799,894 $6,635,268 5. TOTAL ACCOUNTS RECEIVABLE $41,314,895 $29,717,480 $27,014,657 $0 - ------------------------------------------------------------------------------------------------------------------------------------ 6. AMOUNT CONSIDERED UNCOLLECTIBLE - ------------------------------------------------------------------------------------------------------------------------------------ 7. ACCOUNTS RECEIVABLE (NET) $41,314,895 $29,717,480 $27,014,657 $0 ====================================================================================================================================
AGING OF POSTPETITION TAXES AND PAYABLES MONTH: FEBRUARY, 2001 - --------------------------------------------- 0-30 31-60 61-90 91+ TAXES PAYABLE DAYS DAYS DAYS DAYS TOTAL - ----------------------------------------------------------------------------------------------------------------------------------- 1. FEDERAL $791,336 $791,336 2. STATE $0 3. LOCAL $0 4. OTHER (ATTACH LIST) $0 - ------------------------------------------------------------------------------------------------------------------------------------ 5. TOTAL TAXES PAYABLE $791,336 $0 $0 $0 $791,336 - ------------------------------------------------------------------------------------------------------------------------------------ 6. ACCOUNTS PAYABLE $896,758 $467 $2,222 $175,498 $1,074,945 ====================================================================================================================================
STATUS OF POSTPETITION TAXES MONTH: FEBRUARY, 2001 - ------------------------------- BEGINNING AMOUNT ENDING TAX WITHHELD AND/ AMOUNT TAX FEDERAL LIABILITY* 0R ACCRUED PAID LIABILITY - ----------------------------------------------------------------------------------------------------------------------------------- 1. WITHHOLDING** $0 $0 2. FICA-EMPLOYEE** $0 $0 3. FICA-EMPLOYER** $0 $0 4. UNEMPLOYMENT $0 $0 5. INCOME $0 $0 6. OTHER (ATTACH LIST) $838,121 $791,336 $838,121 $791,336 - ------------------------------------------------------------------------------------------------------------------------------------ 7. TOTAL FEDERAL TAXES $838,121 $791,336 $838,121 $791,336 ==================================================================================================================================== STATE AND LOCAL 8. WITHHOLDING $0 $0 9. SALES $0 $0 10. EXCISE $0 $0 11. UNEMPLOYMENT $0 $0 12. REAL PROPERTY $0 $0 13. PERSONAL PROPERTY $0 $0 14. OTHER (ATTACH LIST) $0 $0 15. TOTAL STATE & LOCAL $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------------------ 16. TOTAL TAXES $838,121 $791,336 $838,121 $791,336 ==================================================================================================================================== * 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 CASE NAME: KITTY HAWK CARGO, INC ACCRUAL BASIS-5 CASE NUMBER: 400-42145-BJH-11 02/13/95, RWD, 2/96 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, 2001 BANK RECONCILIATIONS Account #1 Account #2 Account #3 - ----------------------------------------------------------------------------------------------------------------------------------- A. BANK: Bank One B. ACCOUNT NUMBER: 1559691298 TOTAL C. PURPOSE (TYPE): Operations Account - ------------------------------------------------------------------------------------------------------------------------------------ 1. BALANCE PER BANK STATEMENT $0 $0 2. ADD: TOTAL DEPOSITS NOT CREDITED $0 $0 3. SUBTRACT: OUTSTANDING CHECKS $0 $0 4. OTHER RECONCILING ITEMS $4,205 $4,205 5. MONTH END BALANCE PER BOOKS $4,205 $0 $0 $4,205 6. NUMBER OF LAST CHECK WRITTEN
INVESTMENT ACCOUNTS DATE OF TYPE OF PURCHASE CURRENT BANK, ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE - ----------------------------------------------------------------------------------------------------------------------------------- 7. N/A 8. 9. 10. 11. TOTAL INVESTMENTS $0 $0 CASH - ------------------------------------------------------------------------------------------------------------------------------------ 12. CURRENCY ON HAND $6,500 - ------------------------------------------------------------------------------------------------------------------------------------ 13. TOTAL CASH - END OF MONTH $10,705 - ------------------------------------------------------------------------------------------------------------------------------------
Monthly Operating Report CASE NAME: KITTY HAWK CARGO, INC ACCRUAL BASIS-6 CASE NUMBER: 400-42145-BJH-11 02/13/95, RWD, 2/96 MONTH: FEBRUARY, 2001 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 - ----------------------------------------------------------------------------------------------------------------------------------- TYPE OF AMOUNT TOTAL PAID NAME PAYMENT PAID TO DATE - ----------------------------------------------------------------------------------------------------------------------------------- 1. Toby Skaar Salary $26,667 $151,499 2. 3. 4. 5. - ----------------------------------------------------------------------------------------------------------------------------------- 6. TOTAL PAYMENTS TO INSIDERS $26,667 $151,499 ===================================================================================================================================
PROFESSIONALS - ----------------------------------------------------------------------------------------------------------------------------------- DATE OF COURT TOTAL ORDER AUTHORIZING AMOUNT AMOUNT TOTAL PAID INCURRED NAME PAYMENT APPROVED PAID TO DATE & UNPAID * - ----------------------------------------------------------------------------------------------------------------------------------- 1. SEE KITTY HAWK, INC. MOR - CASE# 00-42141-BJH-11 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 - ----------------------------------------------------------------------------------------------------------------------------------- SCHEDULED AMOUNTS MONTHLY PAID TOTAL PAYMENTS DURING UNPAID NAME OF CREDITOR DUE MONTH POSTPETITION - ----------------------------------------------------------------------------------------------------------------------------------- 1. National City Bank & Ft Wayne - Allen County $183,476 $185,579 $0 2. Ridgely - City of Philadelphia - PHL $25,508 $36,533 $0 3. NY/NJ Airport Authority - EWR $27,792 $28,437 $0 4. City of Los Angeles - LAX $39,562 $34,022 $0 5. Airport Group Int'l - ATL $11,550 $11,200 $0 - ------------------------------------------------------------------------------------------------------------------------------------ 6. TOTAL $287,889 $295,771 $0 ====================================================================================================================================
Monthly Operating Report CASE NAME: KITTY HAWK CARGO, INC ACCRUAL BASIS-7 CASE NUMBER: 400-42145-BJH-11 02/13/95, RWD, 2/96 MONTH: FEBRUARY, 2001
QUESTIONNAIRE - --------------------------------------------------------------------------------- YES NO - --------------------------------------------------------------------------------- 1. HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE X THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? - --------------------------------------------------------------------------------- 2. HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT X OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? - --------------------------------------------------------------------------------- 3. ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR X LOANS) DUE FROM RELATED PARTIES? - --------------------------------------------------------------------------------- 4. HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES X THIS REPORTING PERIOD? - --------------------------------------------------------------------------------- 5. HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE X DEBTOR FROM ANY PARTY? - --------------------------------------------------------------------------------- 6. ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? X - --------------------------------------------------------------------------------- 7. ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES X PAST DUE? - --------------------------------------------------------------------------------- 8. ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? X - --------------------------------------------------------------------------------- 9. ARE ANY OTHER POSTPETITION TAXES PAST DUE? X - --------------------------------------------------------------------------------- 10. ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS X DELINQUENT? - --------------------------------------------------------------------------------- 11. HAVE ANY PREPETITION TAXES BEEN PAID DURING THE X REPORTING PERIOD? - --------------------------------------------------------------------------------- 12. ARE ANY WAGE PAYMENTS PAST DUE? X - ---------------------------------------------------------------------------------
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 X NECESSARY INSURANCE COVERAGES IN EFFECT? - --------------------------------------------------------------------------------- 2. ARE ALL PREMIUM PAYMENTS PAID CURRENT? X - --------------------------------------------------------------------------------- 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 PAYMENT AMOUNT POLICY CARRIER PERIOD COVERED & FREQUENCY - ----------------------------------------------------------------------------------------------------------------------------------- SEE KITTY HAWK, INC. MOR - CASE # 00-42141-BJH-11 - -----------------------------------------------------------------------------------------------------------------------------------
CASE NAME: KITTY HAWK CARGO, INC CASE NUMBER: 400-42145-BJH-11 DETAILS OF OTHER ITEMS FEBRUARY, 2001 ACCRUAL BASIS-1 8. OTHER (ATTACH LIST) $ 33,271,998 Reported ------------ Net of all I/C Accts Receivable/Payable 33,031,784 Intangibles - Other 154,458 Deposits 85,756 ------------ 33,271,998 Detail ------------ ------------ - Difference ------------ 22. OTHER (ATTACH LIST) $ (3,322,930)Reported ------------ Accrued Liabilities 1,837,147 Accrued Salaries & PR Taxes 111 Less: FET Taxes Payable (Line 18) (791,336) Post-petition Fed Inc Tax (4,368,852) ------------ *** FET recorded in Taxes Payable (3,322,930)Detail ------------ ------------ - Difference ------------ 27. OTHER (ATTACH LIST) $ 5,270,345 Reported ------------ Pre-petition Fed Inc Tax 4,022,982 Pre-petition Deposits 479,840 Pre-petition Taxes Other - Pre-petition Accrued Liabilities 767,523 ------------ 5,270,345 Detail ------------ ------------ - Difference ------------ ACCRUAL BASIS-2 13. OTHER (ATTACH LIST) $13,275,963 Reported ------------ Aircraft Costs 2,067,072 I/C Aircraft Costs (KHA) 5,489,480 KHC Ground Handling (Operations Payroll) 887,666 Outstation Ground Handling 1,092,118 Trucking Costs 357,658 Fuel 3,227,785 Contract Labor 3,994 Other 150,190 ------------ 13,275,963 Detail ------------ - Difference ACCRUAL BASIS-3 8. OTHER (ATTACH LIST) (11,480,297)Reported ------------ Transfer to Inc - all money sweeps (11,480,297)Detail ------------ to KH Inc. Case #400-42141 - Difference ------------ ACCRUAL BASIS-4 6. OTHER (ATTACH LIST) 1,629,457 Reported ------------ FET (720) 1/01-15/01 Pd 2/12 355,445.94 FET (720) 1/15-31/01 Pd 2/27 405,331.56 FET (720) Refund - Reconciling Item 77,343.50 FET (720) 2/01-28/01 791,336.00 ------------ 1,629,457 Detail ------------ ------------ - Difference ------------
CASE NAME: Kitty Hawk Cargo, Inc. FOOTNOTES SUPPLEMENT CASE NUMBER: 400-42145-BJH-11 ACCRUAL BASIS MONTH: FEBRUARY, 2001
- ----------------------------------------------------------------------------------------------------------------------------------- ACCRUAL BASIS FORM NUMBER LINE NUMBER FOOTNOTE / EXPLANATION - ----------------------------------------------------------------------------------------------------------------------------------- 6 All Professional fees related to the Reorganization of the Company are disbursed out of Kitty Hawk, Inc. (Parent Company). Refer to Case # 400-42141 - ----------------------------------------------------------------------------------------------------------------------------------- 7 All insurance plans related to the Company are carried at Kitty Hawk, Inc. (Parent Company). Refer to Case # 400-42141. - ----------------------------------------------------------------------------------------------------------------------------------- 3 3 The current general ledger system is not able to provide a detail of customer cash receipts segregated by prepetion accounts receivable and post petition accounts receivable. Therefore, cash receipts is provided in total for the month. - ----------------------------------------------------------------------------------------------------------------------------------- 3 8 All cash received into the Company cash accounts is swept each night to Kitty Hawk, Inc. Master Account (see Case #400-42141). - ----------------------------------------------------------------------------------------------------------------------------------- 3 31 All disbursements (either by wire transfer or check), including payroll are disbursed out of the Kitty Hawk, Inc. controlled disbursement account. - ----------------------------------------------------------------------------------------------------------------------------------- 4 6 All assessment of uncollectible accounts receivable are done at Kitty Hawk, Inc. Refer to Case #400-4214. All reserves are recorded at Inc. and pushed down to Inc.'s subsidiaries as deemed necessary. - ----------------------------------------------------------------------------------------------------------------------------------- 4 7 The A/R aging does not reconcile to the general ledger due to historical system problems. In addition, A/R aging is for Trade A/R only. - ----------------------------------------------------------------------------------------------------------------------------------- 4 6 Accounts payable on the aging are in the 60 and 90 day categories due to wire transfers sent as prepayment on Kitty Hawk Inc. (Case #400-42141) A/P aging and invoices on Kitty Hawk Cargo Aging. Company is working on clearing these items. - ----------------------------------------------------------------------------------------------------------------------------------- 4 1 Status of Postpetition Taxes - Kitty Hawk Cargo Payroll was transferred to Aircargo's payroll (case #00-42142-BJH-11) - ----------------------------------------------------------------------------------------------------------------------------------- 6 Insiders Payments to insiders include a portion of the Court approved retention payments in the month of January. - ----------------------------------------------------------------------------------------------------------------------------------- 4 6 Taxes Payable (Federal Excise Tax) is a reconciling item due to refund taken in February and not recorded in G/L. Company will correct in March. - -----------------------------------------------------------------------------------------------------------------------------------
EX-99.6 7 a2043092zex-99_6.txt EX-99.6 EXHIBIT 99.6 MONTHLY OPERATING REPORT CASE NAME: OK TURBINES, INC. ACCRUAL BASIS CASE NUMBER: 400-42146-BJH-11 02/13/95, RWD, 2/96 JUDGE: BARBARA J. HOUSER UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF TEXAS SIXTH DIVISION MONTHLY OPERATING REPORT MONTH ENDING: FEBRUARY 28, 2001 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/ Drew Keith Chief Financial Officer - ------------------------------------------- ------------------------------ ORIGINAL SIGNATURE OF RESPONSIBLE PARTY TITLE Drew Keith 3/20/2001 - ------------------------------------------- ------------------------------ PRINTED NAME OF RESPONSIBLE PARTY DATE PREPARER: /s/ Jessica L. Wilson Chief Accounting Officer - ------------------------------------------- ------------------------------ ORIGINAL SIGNATURE OF PREPARER TITLE Jessica L. Wilson 3/20/2001 - ------------------------------------------- ------------------------------ PRINTED NAME OF PREPARER DATE
MONTHLY OPERATING REPORT CASE NAME: OK TURBINES, INC. ACCRUAL BASIS-1 CASE NUMBER: 400-42146-BJH-11 02/13/95, RWD, 2/96 COMPARATIVE BALANCE SHEET - -----------------------------
- --------------------------------------------------------------------------------------------------- SCHEDULE MONTH MONTH MONTH ------------ ------------- ASSETS AMOUNT January 2001 February 2001 - --------------------------------------------------------------------------------------------------- 1. UNRESTRICTED CASH $299,835 $391,906 $507,677 $0 2. RESTRICTED CASH $0 $0 $0 $0 3. TOTAL CASH $299,835 $391,906 $507,677 $0 - --------------------------------------------------------------------------------------------------- 4. ACCOUNTS RECEIVABLE (NET) $569,077 $555,158 $451,957 $0 5. INVENTORY $4,135,448 $4,474,684 $4,403,012 $0 6. NOTES RECEIVABLE $0 $0 $0 $0 7. PREPAID EXPENSES $0 $0 $0 $0 8. OTHER (ATTACH LIST) $30,000 ($1,072,548) ($969,186) $0 9. TOTAL CURRENT ASSETS $5,034,360 $4,349,200 $4,393,460 $0 - --------------------------------------------------------------------------------------------------- 10. PROPERTY, PLANT & EQUIPMENT $474,012 $604,473 $604,473 $0 11. LESS: ACCUMULATED DEPRECIATION / DEPLETION $0 $130,216 $134,488 $0 12. NET PROPERTY, PLANT & EQUIPMENT $474,012 $474,257 $469,985 $0 - --------------------------------------------------------------------------------------------------- 13. DUE FROM INSIDERS $0 $0 $0 $0 14. OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) $0 $0 $0 $0 15. OTHER (ATTACH LIST) $0 $0 $0 $0 - --------------------------------------------------------------------------------------------------- 16. TOTAL ASSETS $5,508,372 $4,823,457 $4,863,445 $0 =================================================================================================== POSTPETITION LIABILITIES 17. ACCOUNTS PAYABLE $22,921 $43,265 $0 18. TAXES PAYABLE $0 $0 $0 19. NOTES PAYABLE $0 $0 $0 20. PROFESSIONAL FEES $0 $0 $0 21. SECURED DEBT $0 $0 $0 22. OTHER (ATTACH LIST) $0 $0 $0 - --------------------------------------------------------------------------------------------------- 23. TOTAL POSTPETITION LIABILITIES $22,921 $43,265 $0 =================================================================================================== PREPETITION LIABILITIES 24. SECURED DEBT $0 $0 $0 $0 25. PRIORITY DEBT $28,268 $0 $0 $0 26. UNSECURED DEBT $493,554 $522,629 $522,633 $0 27. OTHER (ATTACH LIST) $0 $0 $0 $0 28. TOTAL PREPETITION LIABILITIES $521,822 $522,629 $522,633 $0 - --------------------------------------------------------------------------------------------------- 29. TOTAL LIABILITIES $521,822 $545,550 $565,898 $0 =================================================================================================== EQUITY 30. PREPETITION OWNERS' EQUITY $3,790,619 $3,790,619 $0 31. POSTPETITION CUMULATIVE PROFIT OR (LOSS) $487,288 $506,928 $0 32. DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) 33. TOTAL EQUITY $0 $4,277,907 $4,297,547 $0 - --------------------------------------------------------------------------------------------------- 34. TOTAL LIABILITIES & OWNERS' EQUITY $521,822 $4,823,457 $4,863,445 $0 ===================================================================================================
MONTHLY OPERATING REPORT CASE NAME: OK TURBINES, INC. ACCRUAL BASIS-2 CASE NUMBER: 400-42146-BJH-11 02/13/95, RWD, 2/96 INCOME STATEMENT - ------------------------------
- --------------------------------------------------------------------------------------------------- MONTH MONTH MONTH QUARTER ------------ ------------- REVENUES January 2001 February 2001 TOTAL - --------------------------------------------------------------------------------------------------- 1. GROSS REVENUES $384,607 $352,847 $0 $737,454 2. LESS: RETURNS & DISCOUNTS $0 $0 $0 $0 - --------------------------------------------------------------------------------------------------- 3. NET REVENUE $384,607 $352,847 $0 $737,454 =================================================================================================== COST OF GOODS SOLD 4. MATERIAL $219,464 $238,072 $0 $457,536 5. DIRECT LABOR $47,684 $39,897 $0 $87,581 6. DIRECT OVERHEAD $12,273 $5,361 $0 $17,634 7. TOTAL COST OF GOODS SOLD $279,421 $283,330 $0 $562,751 - --------------------------------------------------------------------------------------------------- 8. GROSS PROFIT $105,186 $69,517 $0 $174,703 =================================================================================================== OPERATING EXPENSES 9. OFFICER / INSIDER COMPENSATION $4,615 $4,615 $0 $9,230 10. SELLING & MARKETING $332 $384 $0 $716 11. GENERAL & ADMINISTRATIVE $28,821 $28,227 $0 $57,048 12. RENT & LEASE $3,387 $3,610 $0 $6,997 13. OTHER (ATTACH LIST) $735 $8,769 $0 $9,504 - --------------------------------------------------------------------------------------------------- 14. TOTAL OPERATING EXPENSES $37,890 $45,605 $0 $83,495 - --------------------------------------------------------------------------------------------------- 15. INCOME BEFORE NON-OPERATING INCOME & EXPENSE $67,296 $23,912 $0 $91,208 =================================================================================================== OTHER INCOME & EXPENSES 16. NON-OPERATING INCOME (ATT. LIST) $0 $0 $0 $0 17. NON-OPERATING EXPENSE (ATT. LIST) $0 $0 $0 $0 18. INTEREST EXPENSE $0 $0 $0 $0 19. DEPRECIATION / DEPLETION $4,272 $4,272 $0 $8,544 20. AMORTIZATION $0 $0 $0 $0 21. OTHER (ATTACH LIST) $0 $0 $0 $0 - --------------------------------------------------------------------------------------------------- 22. NET OTHER INCOME & EXPENSES $4,272 $4,272 $0 $8,544 =================================================================================================== REORGANIZATION EXPENSES 23. PROFESSIONAL FEES $0 $0 $0 $0 24. U.S. TRUSTEE FEES $0 $0 $0 $0 25. OTHER (ATTACH LIST) $0 $0 $0 $0 26. TOTAL REORGANIZATION EXPENSES $0 $0 $0 $0 - --------------------------------------------------------------------------------------------------- 27. INCOME TAX $0 $0 $0 $0 - --------------------------------------------------------------------------------------------------- 28. NET PROFIT (LOSS) $63,024 $19,640 $0 $82,664 ===================================================================================================
MONTHLY OPERATING REPORT CASE NAME: OK TURBINES, INC. ACCRUAL BASIS-3 CASE NUMBER: 400-42146-BJH-11 02/13/95, RWD, 2/96
- --------------------------------------------------------------------------------------------------- MONTH MONTH MONTH QUARTER CASH RECEIPTS AND ------------ ------------- DISBURSEMENTS January 2001 February 2001 TOTAL - --------------------------------------------------------------------------------------------------- 1. CASH - BEGINNING OF MONTH $68,784 $391,906 $0 $68,784 - --------------------------------------------------------------------------------------------------- RECEIPTS FROM OPERATIONS 2. CASH SALES $0 $0 $0 $0 - --------------------------------------------------------------------------------------------------- COLLECTION OF ACCOUNTS RECEIVABLE 3. PREPETITION $0 $4,904 $0 $4,904 4. POSTPETITION $547,565 $456,463 $0 $1,004,028 - --------------------------------------------------------------------------------------------------- 5. TOTAL OPERATING RECEIPTS $547,565 $461,367 $0 $1,008,932 =================================================================================================== NON - OPERATING RECEIPTS 6. LOANS & ADVANCES (ATTACH LIST) $0 $0 $0 $0 7. SALE OF ASSETS $0 $0 $0 $0 8. OTHER (ATTACH LIST) $1,151 $17,986 $0 $19,137 9. TOTAL NON-OPERATING RECEIPTS $1,151 $17,986 $0 $19,137 - --------------------------------------------------------------------------------------------------- 10. TOTAL RECEIPTS $548,716 $479,353 $0 $1,028,069 - --------------------------------------------------------------------------------------------------- 11. TOTAL CASH AVAILABLE $617,500 $871,259 $0 $1,096,853 =================================================================================================== OPERATING DISBURSEMENTS 12. NET PAYROLL $79,281 $53,114 $0 $132,395 13. PAYROLL TAXES PAID $5,278 $4,028 $0 $9,306 14. SALES, USE & OTHER TAXES PAID $1,957 $0 $0 $1,957 15. SECURED / RENTAL / LEASES $2,927 $2,948 $0 $5,875 16. UTILITIES $3,876 $1,502 $0 $5,378 17. INSURANCE $0 $0 $0 $0 18. INVENTORY PURCHASES $47,383 $84,068 $0 $131,451 19. VEHICLE EXPENSES $0 $10 $0 $10 20. TRAVEL $3,130 $3,659 $0 $6,789 21. ENTERTAINMENT $214 $304 $0 $518 22. REPAIRS & MAINTENANCE $56,724 $45,385 $0 $102,109 23. SUPPLIES $4,915 $2,062 $0 $6,977 24. ADVERTISING $344 $193 $0 $537 25. OTHER (ATTACH LIST) $14,565 $166,309 $0 $180,874 - --------------------------------------------------------------------------------------------------- 26. TOTAL OPERATING DISBURSEMENTS $220,594 $363,582 $0 $584,176 =================================================================================================== REORGANIZATION EXPENSES 27. PROFESSIONAL FEES $0 $0 $0 $0 28. U.S. TRUSTEE FEES $5,000 $0 $0 $5,000 29. OTHER (ATTACH LIST) $0 $0 $0 $0 30. TOTAL REORGANIZATION EXPENSES $5,000 $0 $0 $5,000 31. TOTAL DISBURSEMENTS $225,594 $363,582 $0 $589,176 32. NET CASH FLOW $323,122 $115,771 $0 $438,893 - --------------------------------------------------------------------------------------------------- 33. CASH - END OF MONTH $391,906 $507,677 $0 $507,677 ===================================================================================================
MONTHLY OPERATING REPORT CASE NAME: OK TURBINES, INC. ACCRUAL BASIS-4 CASE NUMBER: 400-42146-BJH-11 02/13/95, RWD, 2/96
SCHEDULE MONTH MONTH MONTH ------------ ------------- ACCOUNTS RECEIVABLE AGING AMOUNT January 2001 February 2001 - --------------------------------------------------------------------------------------------------- 1. 0-30 $274,729 $160,956 $0 2. 31-60 $57,832 $80,773 $0 3. 61-90 $34,373 $32,801 $0 4. 91+ $197,662 $177,427 $0 5. TOTAL ACCOUNTS RECEIVABLE $0 $564,596 $451,957 $0 - --------------------------------------------------------------------------------------------------- 6. AMOUNT CONSIDERED UNCOLLECTIBLE $9,438 $0 $0 - --------------------------------------------------------------------------------------------------- 7. ACCOUNTS RECEIVABLE (NET) $0 $555,158 $451,957 $0 ===================================================================================================
AGING OF POSTPETITION TAXES AND PAYABLES MONTH: February 2001 - --------------------------------------------- 0-30 31-60 61-90 91+ TAXES PAYABLE DAYS DAYS DAYS DAYS TOTAL - -------------------------------------------------------------------------------------------------- 1. FEDERAL $0 $0 $0 $0 $0 2. STATE $0 $0 $0 $0 $0 3. LOCAL $0 $0 $0 $0 $0 4. OTHER (ATTACH LIST) $0 $0 $0 $0 $0 - -------------------------------------------------------------------------------------------------- 5. TOTAL TAXES PAYABLE $0 $0 $0 $0 $0 ================================================================================================== 6. ACCOUNTS PAYABLE $42,447 $818 $0 $43,265 ==================================================================================================
STATUS OF POSTPETITION TAXES MONTH: February 2001 - ------------------------------- BEGINNING AMOUNT ENDING TAX WITHHELD AND/ AMOUNT TAX FEDERAL LIABILITY* 0R ACCRUED PAID LIABILITY - -------------------------------------------------------------------------------------------------- 1. WITHHOLDING** $0 $0 $0 $0 2. FICA-EMPLOYEE** $0 $0 $0 $0 3. FICA-EMPLOYER** $0 $0 $0 $0 4. UNEMPLOYMENT $0 $0 $0 $0 5. INCOME $0 $0 $0 $0 6. OTHER (ATTACH LIST) $0 $0 $0 $0 - -------------------------------------------------------------------------------------------------- 7. TOTAL FEDERAL TAXES $0 $0 $0 $0 ================================================================================================== STATE AND LOCAL 8. WITHHOLDING $0 $0 $0 $0 9. SALES $0 $0 $0 $0 10. EXCISE $0 $0 $0 $0 11. UNEMPLOYMENT $0 $0 $0 $0 12. REAL PROPERTY $0 $0 $0 $0 13. PERSONAL PROPERTY $0 $0 $0 $0 14. OTHER (ATTACH LIST) $0 $0 $0 $0 15. TOTAL STATE & LOCAL $0 $0 $0 $0 - -------------------------------------------------------------------------------------------------- 16. TOTAL TAXES $0 $0 $0 $0 ==================================================================================================
* 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 CASE NAME: OK TURBINES, INC. ACCRUAL BASIS-5 CASE NUMBER: 400-42146-BJH-11 02/13/95, RWD, 2/96 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 2001 BANK RECONCILIATIONS Account #1 Account #2 Account #3 - ------------------------------------------------------------------------------------------------------------------------------------ A. BANK: Bank of America Bank of America Bank of America B. ACCOUNT NUMBER: 15819-20089 00127-09156 00129-09155 TOTAL C. PURPOSE (TYPE): Operating Payroll Operating - ------------------------------------------------------------------------------------------------------------------------------------ 1. BALANCE PER BANK STATEMENT $540,257 $0 $0 $540,257 2. ADD: TOTAL DEPOSITS NOT CREDITED $0 $0 $0 $0 3. SUBTRACT: OUTSTANDING CHECKS $32,906 $0 $0 $32,906 4. OTHER RECONCILING ITEMS $0 $0 $0 $0 5. MONTH END BALANCE PER BOOKS $507,351 $0 $0 $507,351 6. NUMBER OF LAST CHECK WRITTEN 6087 Account closed Account closed
- ------------------------ INVESTMENT ACCOUNTS - ------------------------------------------------------------------------------------------------------------------------------------ DATE OF TYPE OF PURCHASE CURRENT BANK, ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE - ------------------------------------------------------------------------------------------------------------------------------------ 7. N/A 8. N/A 9. N/A 10. N/A 11. TOTAL INVESTMENTS $0 $0
- ------------------------ CASH - ------------------------------------------------------------------------------------------------------------------------------------ 12. CURRENCY ON HAND $326 - ------------------------------------------------------------------------------------------------------------------------------------ 13. TOTAL CASH - END OF MONTH $507,677 - ------------------------------------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT CASE NAME: OK TURBINES, INC. ACCRUAL BASIS-6 CASE NUMBER: 400-42146-BJH-11 02/13/95, RWD, 2/96 MONTH: February 2001 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 - ------------------------------------------------------------------------------------------- TYPE OF AMOUNT TOTAL PAID NAME PAYMENT PAID TO DATE - ------------------------------------------------------------------------------------------- 1. GREGG NIMMO Reimbursment $25,015 2. GREGG NIMMO Salary $4,615 $70,674 3. 4. 5. - ------------------------------------------------------------------------------------------- 6. TOTAL PAYMENTS TO INSIDERS $4,615 $95,689 ===========================================================================================
PROFESSIONALS - ------------------------------------------------------------------------------------------- DATE OF COURT TOTAL ORDER AUTHORIZING AMOUNT AMOUNT TOTAL PAID INCURRED NAME PAYMENT APPROVED PAID TO DATE & UNPAID * - ------------------------------------------------------------------------------------------- 1. N/A 2. N/A 3. N/A 4. N/A 5. N/A - ------------------------------------------------------------------------------------------- 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
SCHEDULED AMOUNTS MONTHLY PAID TOTAL AYMENTS DURING UNPAID NAME OF CREDITOR DUE MONTH POSTPETITION - ------------------------------------------------------------------------------------- 1. City of Hollister - Building Rent $2,395 $2,334 $0 2. Other various $613 $0 3. N/A 4. N/A 5. N/A - ------------------------------------------------------------------------------------- 6. TOTAL $2,395 $2,947 $0 =====================================================================================
MONTHLY OPERATING REPORT CASE NAME: OK TURBINES, INC. ACCRUAL BASIS-7 CASE NUMBER: 400-42146-BJH-11 02/13/95, RWD, 2/96 MONTH: February 2001
QUESTIONNAIRE - -------------------------------------------------------------------------------------------------------- YES NO - -------------------------------------------------------------------------------------------------------- 1. HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? X - -------------------------------------------------------------------------------------------------------- 2. HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? X - -------------------------------------------------------------------------------------------------------- 3. ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? X - -------------------------------------------------------------------------------------------------------- 4. HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? X - -------------------------------------------------------------------------------------------------------- 5. HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? X - -------------------------------------------------------------------------------------------------------- 6. ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? X - -------------------------------------------------------------------------------------------------------- 7. ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? X - -------------------------------------------------------------------------------------------------------- 8. ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? X - -------------------------------------------------------------------------------------------------------- 9. ARE ANY OTHER POSTPETITION TAXES PAST DUE? X - -------------------------------------------------------------------------------------------------------- 10. ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? X - -------------------------------------------------------------------------------------------------------- 11. HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? X - -------------------------------------------------------------------------------------------------------- 12. ARE ANY WAGE PAYMENTS PAST DUE? X - -------------------------------------------------------------------------------------------------------- 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? X - -------------------------------------------------------------------------------------------------------- 2. ARE ALL PREMIUM PAYMENTS PAID CURRENT? X - -------------------------------------------------------------------------------------------------------- 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 PAYMENT AMOUNT POLICY CARRIER PERIOD COVERED & FREQUENCY - ----------------------------------------------------------------------------------------------------------------------- See Kitty Hawk, Inc. Case #400-42141 - ----------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------------------------
CASE NAME: OK TURBINES, INC. CASE NUMBER: 400-42146-BJH-11 ACCURALS OF OTHER ITEMS
ACCURAL BASIS-1 February 2001 8. OTHER (ATTACH LIST) $(969,186) Reported ----------- Intercompany Receivables (1,010,258) Security Deposit 41,072 (969,186) Detail =========== - Difference ACCURAL BASIS-2 13. OTHER (ATTACH LIST) $8,769 Reported ----------- Bad Debt expense 8,769 8,769 Detail ----------- - Difference ACCURAL BASIS-3 8. OTHER (ATTACH LIST) $17,986 Reported ----------- Void checks and refunds 17,986 Detail ----------- - Difference 25. OTHER (ATTACH LIST) 166,309 Reported ----------- Freight 7,049 Training 500 Outside Services 191 Penalty and NSF 1,831 Refunds 3,630 Misc 340 Subscription 2,768 Transfer to KH Charters 150,000 ----------- 166,309 Detail ----------- - Difference
SE NAME: OK TURBINES, INC. FOOTNOTES SUPPLEMENT SE NUMBER: 400-42146-BJH-11 ACCRUAL BASIS MONTH: February 2001
CRUAL BASIS FORM NUMBER LINE NUMBER FOOTNOTE / EXPLANATION - ------------------------------------------------------------------------------------------------------ 3 12 All payroll is paid out of Kitty Hawk Charters, Inc. (Case #400-42142) and allocated to the Company. Related payroll 13 taxes are disbursed out of and reported at KH Charters. - ------------------------------------------------------------------------------------------------------ 6 All Professional fees related to the Reorganization of the Company are disbursed out of Kitty Hawk, Inc. (Parent Company). Refer to Case # 400-42141 - ------------------------------------------------------------------------------------------------------ 7 All insurance plans related to the Company are carried at Kitty Hawk, Inc. (Parent Company). Refer to Case # 400-42141. - ------------------------------------------------------------------------------------------------------
EX-99.7 8 a2043092zex-99_7.txt EX-99.7 EXHIBIT 99.7 MONTHLY OPERATING REPORT CASE NAME: LONGHORN SOLUTIONS, INC. ACCRUAL BASIS CASE NUMBER: 400-42147-BJH-11 02/13/95, RWD, 2/96 JUDGE: BARBARA J. HOUSER UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF TEXAS SIXTH DIVISION MONTHLY OPERATING REPORT MONTH ENDING: FEBRUARY 28, 2001 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/ Drew Keith Chief Financial Officer - --------------------------------------- -------------------------- ORIGINAL SIGNATURE OF RESPONSIBLE PARTY TITLE Drew Keith 3/20/2001 - --------------------------------------- -------------------------- PRINTED NAME OF RESPONSIBLE PARTY DATE PREPARER: /s/ Jessica L. Wilson Chief Accounting Officer - --------------------------------------- -------------------------- ORIGINAL SIGNATURE OF PREPARER TITLE Jessica L. Wilson 3/20/2001 - --------------------------------------- -------------------------- PRINTED NAME OF PREPARER DATE MONTHLY OPERATING REPORT CASE NAME: LONGHORN SOLUTIONS, INC. ACCRUAL BASIS-1 CASE NUMBER: 400-42147-BJH-11 02/13/95, RWD, 2/96 COMPARATIVE BALANCE SHEET
MONTH MONTH MONTH SCHEDULE ----- ----- ----- ASSETS AMOUNT January 2001 February 2001 - ---------------------------------------------------------------------------------------------------------------- 1. UNRESTRICTED CASH $3,646 $0 $0 $0 2. RESTRICTED CASH $0 $0 $0 3. TOTAL CASH $3,646 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------- 4. ACCOUNTS RECEIVABLE (NET) $76,002 $3,601 $3,601 $0 5. INVENTORY $0 $0 $0 6. NOTES RECEIVABLE $0 $0 $0 7. PREPAID EXPENSES $0 $0 $0 8. OTHER (ATTACH LIST) $375,137 $755,788 $755,788 $0 9. TOTAL CURRENT ASSETS $454,785 $759,389 $759,389 $0 - ---------------------------------------------------------------------------------------------------------------- 10. PROPERTY, PLANT & EQUIPMENT $120,412 $0 $0 $0 11. LESS: ACCUMULATED DEPRECIATION / DEPLETION $0 $0 $0 12. NET PROPERTY, PLANT & EQUIPMENT $120,412 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------- 13. DUE FROM INSIDERS $0 $0 $0 14. OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) $2,892,844 $2,723,098 $2,723,098 $0 15. OTHER (ATTACH LIST) $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------- 16. TOTAL ASSETS $3,468,041 $3,482,487 $3,482,487 $0 ================================================================================================================ POSTPETITION LIABILITIES 17. ACCOUNTS PAYABLE $0 $0 $0 18. TAXES PAYABLE ($164) ($164) $0 19. NOTES PAYABLE $0 $0 $0 20. PROFESSIONAL FEES $0 $0 $0 21. SECURED DEBT $0 $0 $0 22. OTHER (ATTACH LIST) $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------- 23. TOTAL POSTPETITION LIABILITIES ($164) ($164) $0 ================================================================================================================ PREPETITION LIABILITIES 24. SECURED DEBT $0 $0 $0 25. PRIORITY DEBT $73,455 $0 $0 $0 26. UNSECURED DEBT $68,502 $62,673 $62,673 $0 27. OTHER (ATTACH LIST) $1,225,717 $1,225,717 $0 28. TOTAL PREPETITION LIABILITIES $141,957 $1,288,390 $1,288,390 $0 - ---------------------------------------------------------------------------------------------------------------- 29. TOTAL LIABILITIES $141,957 $1,288,226 $1,288,226 $0 ================================================================================================================ EQUITY 30. PREPETITION OWNERS' EQUITY $2,194,261 $2,194,261 $0 31. POSTPETITION CUMULATIVE PROFIT OR (LOSS) $0 $0 32. DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) 33. TOTAL EQUITY $0 $2,194,261 $2,194,261 $0 - ---------------------------------------------------------------------------------------------------------------- 34. TOTAL LIABILITIES & OWNERS' EQUITY $141,957 $3,482,487 $3,482,487 $0 ================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: LONGHORN SOLUTIONS, INC. ACCRUAL BASIS-2 CASE NUMBER: 400-42147-BJH-11 02/13/95, RWD, 2/96 INCOME STATEMENT
MONTH MONTH MONTH ----- ----- ----- QUARTER REVENUES January 2001 February 2001 TOTAL - ------------------------------------------------------------------------------------------------------------------------ 1. GROSS REVENUES $0 $0 $0 $0 2. LESS: RETURNS & DISCOUNTS $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------ 3. NET REVENUE $0 $0 $0 $0 ======================================================================================================================== COST OF GOODS SOLD 4. MATERIAL $0 $0 $0 $0 5. DIRECT LABOR $0 $0 $0 $0 6. DIRECT OVERHEAD $0 $0 $0 $0 7. TOTAL COST OF GOODS SOLD $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------ 8. GROSS PROFIT $0 $0 $0 $0 ======================================================================================================================== OPERATING EXPENSES 9. OFFICER/INSIDER COMPENSATION $0 $0 $0 $0 10. SELLING & MARKETING $0 $0 $0 $0 11. GENERAL & ADMINISTRATIVE $0 $0 $0 $0 12. RENT & LEASE $0 $0 $0 $0 13. OTHER (ATTACH LIST) $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------ 14. TOTAL OPERATING EXPENSES $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------ 15. INCOME BEFORE NON-OPERATING INCOME & EXPENSE $0 $0 $0 $0 ======================================================================================================================== OTHER INCOME & EXPENSES 16. NON-OPERATING INCOME (ATT. LIST) $0 $0 $0 $0 17. NON-OPERATING EXPENSE (ATT. LIST) $0 $0 $0 $0 18. INTEREST EXPENSE $0 $0 $0 $0 19. DEPRECIATION/DEPLETION $0 $0 $0 $0 20. AMORTIZATION $0 $0 $0 $0 21. OTHER (ATTACH LIST) $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------ 22. NET OTHER INCOME & EXPENSES $0 $0 $0 $0 ======================================================================================================================== REORGANIZATION EXPENSES 23. PROFESSIONAL FEES $0 $0 $0 $0 24. U.S. TRUSTEE FEES $0 $0 $0 $0 25. OTHER (ATTACH LIST) $0 $0 $0 $0 26. TOTAL REORGANIZATION EXPENSES $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------ 27. INCOME TAX $0 $0 $0 $0 ======================================================================================================================== 28. NET PROFIT (LOSS) $0 $0 $0 $0 ========================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: LONGHORN SOLUTIONS, INC. ACCRUAL BASIS-3 CASE NUMBER: 400-42147-BJH-11 02/13/95, RWD, 2/96
MONTH MONTH MONTH ----- ----- ----- QUARTER CASH RECEIPTS AND DISBURSEMENTS January 2001 February 2001 TOTAL - ---------------------------------------------------------------------------------------------------------------------------- 1. CASH - BEGINNING OF MONTH $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------------------- RECEIPTS FROM OPERATIONS 2. CASH SALES $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------------------- COLLECTION OF ACCOUNTS RECEIVABLE 3. PREPETITION $0 $0 $0 $0 4. POSTPETITION $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------------------- 5. TOTAL OPERATING RECEIPTS $0 $0 $0 $0 ============================================================================================================================ NON - OPERATING RECEIPTS 6. LOANS & ADVANCES (ATTACH LIST) $0 $0 $0 $0 7. SALE OF ASSETS $0 $0 $0 $0 8. OTHER (ATTACH LIST) $0 $0 $0 $0 9. TOTAL NON-OPERATING RECEIPTS $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------------------- 10. TOTAL RECEIPTS $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------------------- 11. TOTAL CASH AVAILABLE $0 $0 $0 $0 ============================================================================================================================ OPERATING DISBURSEMENTS 12. NET PAYROLL $0 $0 $0 $0 13. PAYROLL TAXES PAID $0 $0 $0 $0 14. SALES, USE & OTHER TAXES PAID $0 $0 $0 $0 15. SECURED/RENTAL/LEASES $0 $0 $0 $0 16. UTILITIES $0 $0 $0 $0 17. INSURANCE $0 $0 $0 $0 18. INVENTORY PURCHASES $0 $0 $0 $0 19. VEHICLE EXPENSES $0 $0 $0 $0 20. TRAVEL $0 $0 $0 $0 21. ENTERTAINMENT $0 $0 $0 $0 22. REPAIRS & MAINTENANCE $0 $0 $0 $0 23. SUPPLIES $0 $0 $0 $0 24. ADVERTISING $0 $0 $0 $0 25. OTHER (ATTACH LIST) $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------------------- 26. TOTAL OPERATING DISBURSEMENTS $0 $0 $0 $0 ============================================================================================================================ REORGANIZATION EXPENSES 27. PROFESSIONAL FEES $0 $0 $0 $0 28. U.S. TRUSTEE FEES $0 $0 $0 $0 29. OTHER (ATTACH LIST) $0 $0 $0 $0 30. TOTAL REORGANIZATION EXPENSES $0 $0 $0 $0 31. TOTAL DISBURSEMENTS $0 $0 $0 $0 32. NET CASH FLOW $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------------------- 33. CASH-END OF MONTH $0 $0 $0 $0 ============================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: LONGHORN SOLUTIONS, INC. ACCRUAL BASIS-4 CASE NUMBER: 400-42147-BJH-11 02/13/95, RWD, 2/96
SCHEDULE MONTH MONTH MONTH ACCOUNTS RECEIVABLE AGING AMOUNT January 2001 February 2001 - ---------------------------------------------------------------------------------------------------------------------------- 1. 0-30 $0 $0 $0 2. 31-60 $0 $0 $0 3. 61-90 $0 $0 $0 4. 91+ $5,182 $5,182 $0 5. TOTAL ACCOUNTS RECEIVABLE $0 $5,182 $5,182 $0 - ---------------------------------------------------------------------------------------------------------------------------- 6. AMOUNT CONSIDERED UNCOLLECTIBLE $1,581 $1,581 $0 - ---------------------------------------------------------------------------------------------------------------------------- 7. ACCOUNTS RECEIVABLE (NET) $0 $3,601 $3,601 $0 ============================================================================================================================
AGING OF POSTPETITION TAXES AND PAYABLES MONTH: February 2001
0-30 31-60 61-90 91+ TAXES PAYABLE DAYS DAYS DAYS DAYS TOTAL - ---------------------------------------------------------------------------------------------------------------------------- 1. FEDERAL $0 $0 $0 $0 $0 2. STATE ($164) $0 $0 $0 ($164) 3. LOCAL $0 $0 $0 $0 $0 4. OTHER (ATTACH LIST) $0 $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------------------- 5. TOTAL TAXES PAYABLE ($164) $0 $0 $0 ($164) ============================================================================================================================ 6. ACCOUNTS PAYABLE $0 $0 $0 $0 $0 ============================================================================================================================
STATUS OF POSTPETITION TAXES MONTH: February 2001
BEGINNING AMOUNT ENDING TAX WITHHELD AND/ AMOUNT TAX FEDERAL LIABILITY* 0R ACCRUED PAID LIABILITY - ---------------------------------------------------------------------------------------------------------------------------- 1. WITHHOLDING** $0 $0 $0 $0 2. FICA-EMPLOYEE** $0 $0 $0 $0 3. FICA-EMPLOYER** $0 $0 $0 $0 4. UNEMPLOYMENT $0 $0 $0 $0 5. INCOME $0 $0 $0 $0 6. OTHER (ATTACH LIST) $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------------------- 7. TOTAL FEDERAL TAXES $0 $0 $0 $0 ============================================================================================================================ STATE AND LOCAL 8. WITHHOLDING $0 $0 $0 $0 9. SALES ($164) $0 $0 ($164) 10. EXCISE $0 $0 $0 $0 11. UNEMPLOYMENT $0 $0 $0 $0 12. REAL PROPERTY $0 $0 $0 $0 13. PERSONAL PROPERTY $0 $0 $0 $0 14. OTHER (ATTACH LIST) $0 $0 $0 $0 15. TOTAL STATE & LOCAL ($164) $0 $0 ($164) - ---------------------------------------------------------------------------------------------------------------------------- 16. TOTAL TAXES ($164) $0 $0 ($164) ============================================================================================================================
* 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 CASE NAME: LONGHORN SOLUTIONS, INC. ACCRUAL BASIS-5 CASE NUMBER: 400-42147-BJH-11 02/13/95, RWD, 2/96 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 2001 BANK RECONCILIATIONS
Account #1 Account #2 Account #3 TOTAL - ---------------------------------------------------------------------------------------------------------------------------- A. BANK: Bank One Mid-Cities B. ACCOUNT NUMBER: 1586267807 4235800 C. PURPOSE (TYPE): Operating-Closed 11/00 Operating - Closed 5/00 - ---------------------------------------------------------------------------------------------------------------------------- 1. BALANCE PER BANK STATEMENT $0 $0 $0 2. ADD: TOTAL DEPOSITS NOT CREDITED $0 $0 $0 3. SUBTRACT: OUTSTANDING CHECKS $0 $0 $0 4. OTHER RECONCILING ITEMS $0 $0 $0 5. MONTH END BALANCE PER BOOKS $0 $0 $0 $0 6. NUMBER OF LAST CHECK WRITTEN account closed account closed
INVESTMENT ACCOUNTS
DATE OF TYPE OF PURCHASE CURRENT BANK, ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE - ---------------------------------------------------------------------------------------------------------------------------- 7. N/A 8. N/A 9. N/A 10. N/A 11. TOTAL INVESTMENTS $0 $0 CASH - ---------------------------------------------------------------------------------------------------------------------------- 12. CURRENCY ON HAND $0 - ---------------------------------------------------------------------------------------------------------------------------- 13. TOTAL CASH - END OF MONTH $0 - ----------------------------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT CASE NAME: LONGHORN SOLUTIONS, INC. ACCRUAL BASIS-6 CASE NUMBER: 400-42147-BJH-11 02/13/95, RWD, 2/96 MONTH: February 2001 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 - ----------------------------------------------------------------------------------------------------------------------------- TYPE OF AMOUNT TOTAL PAID NAME PAYMENT PAID TO DATE - ----------------------------------------------------------------------------------------------------------------------------- 1. Mary Phillips Salary $0 $68,750 2. 3. 4. 5. - ----------------------------------------------------------------------------------------------------------------------------- 6. TOTAL PAYMENTS TO INSIDERS $0 $68,750 =============================================================================================================================
PROFESSIONALS - ----------------------------------------------------------------------------------------------------------------------------- DATE OF COURT TOTAL ORDER AUTHORIZING AMOUNT AMOUNT TOTAL PAID INCURRED NAME PAYMENT APPROVED PAID TO DATE & UNPAID * - ----------------------------------------------------------------------------------------------------------------------------- 1. N/A 2. N/A 3. N/A 4. N/A 5. N/A - ----------------------------------------------------------------------------------------------------------------------------- 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
SCHEDULED AMOUNTS MONTHLY PAID TOTAL PAYMENTS DURING UNPAID NAME OF CREDITOR DUE MONTH POSTPETITION - ----------------------------------------------------------------------------------------------------------------------------- 1. N/A 2. N/A 3. N/A 4. N/A 5. N/A - ----------------------------------------------------------------------------------------------------------------------------- 6. TOTAL $0 $0 $0 =============================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: LONGHORN SOLUTIONS, INC. ACCRUAL BASIS-7 CASE NUMBER: 400-42147-BJH-11 02/13/95, RWD, 2/96 MONTH: February 2001
QUESTIONNAIRE - --------------------------------------------------------------------------------------------------------------- YES NO - --------------------------------------------------------------------------------------------------------------- 1. HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? X - --------------------------------------------------------------------------------------------------------------- 2. HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? X - --------------------------------------------------------------------------------------------------------------- 3. ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? X - --------------------------------------------------------------------------------------------------------------- 4. HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? X - --------------------------------------------------------------------------------------------------------------- 5. HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? X - --------------------------------------------------------------------------------------------------------------- 6. ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? X - --------------------------------------------------------------------------------------------------------------- 7. ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? X - --------------------------------------------------------------------------------------------------------------- 8. ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? X - --------------------------------------------------------------------------------------------------------------- 9. ARE ANY OTHER POSTPETITION TAXES PAST DUE? X - --------------------------------------------------------------------------------------------------------------- 10. ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? X - --------------------------------------------------------------------------------------------------------------- 11. HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? X - --------------------------------------------------------------------------------------------------------------- 12. ARE ANY WAGE PAYMENTS PAST DUE? X
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? X - --------------------------------------------------------------------------------------------------------------- 2. ARE ALL PREMIUM PAYMENTS PAID CURRENT? X - --------------------------------------------------------------------------------------------------------------- 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 PAYMENT AMOUNT POLICY CARRIER PERIOD COVERED & FREQUENCY - --------------------------------------------------------------------------------------------------------------- Property Insurance CAN Transcontinental Ins. Co 9/12/00-9/11/01 $ 1,723.00 Annual - ---------------------------------------------------------------------------------------------------------------
See Kitty Hawk, Inc. Case #400-42141 CASE NAME: LONGHORN SOLUTIONS, INC. CASE NUMBER: 400-42147-BJH-11 DETAILS OF OTHER ITEMS
ACCRUAL BASIS-1 February 2001 8. OTHER (ATTACH LIST) $ 755,788 Reported ----------------------- Intercompany Receivables 716,123 Deferred Taxes 36,717 Security Deposit 2,948 ----------------------- 755,788 Detail ======================= - Difference 14. OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) $ 2,723,098 Reported ----------------------- Software knowledge 3,397,988 Accum Amortization (674,890) ----------------------- 2,723,098 Detail ----------------------- - Difference 27. OTHER (ATTACH LIST) $ 1,225,717 Reported ----------------------- Accrued income taxes (71,204) Deferred income tax expense 1,296,921 ----------------------- 1,225,717 Detail ----------------------- - Difference
CASE NAME: LONGHORN SOLUTIONS, INC. FOOTNOTES SUPPLEMENT CASE NUMBER: 400-42147-BJH-11 ACCRUAL BASIS MONTH: February 2001
ACCRUAL BASIS FORM NUMBER LINE NUMBER FOOTNOTE/EXPLANATION - --------------------------------------------------------------------------------------------------------------- 6 All Professional fees related to the Reorganization of the Company are disbursed out of Kitty Hawk, Inc. (Parent Company). Refer to Case # 400-42141 - --------------------------------------------------------------------------------------------------------------- 7 All other insurance plans related to the Company are carried at Kitty Hawk, Inc. (Parent Company). Refer to Case # 400-42141. - --------------------------------------------------------------------------------------------------------------- General Operations of this entity ceased October 12, 2000. Costs incurred are final closing relating items. - ---------------------------------------------------------------------------------------------------------------
EX-99.8 9 a2043092zex-99_8.txt EX-99.8 EXHIBIT 99.8 MONTHLY OPERATING REPORT CASE NAME: AIRCRAFT LEASING, INC. ACCRUAL BASIS CASE NUMBER: 400-42148-BJH-11 02/13/95, RWD, 2/96 JUDGE: BARBARA J. HOUSER UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF TEXAS SIXTH DIVISION MONTHLY OPERATING REPORT MONTH ENDING: FEBRUARY 28, 2001 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/ Drew Keith CHIEF FINANCIAL OFFICER - --------------------------------------------- --------------------------- ORIGINAL SIGNATURE OF RESPONSIBLE PARTY TITLE DREW KEITH 3/20/2001 - --------------------------------------------- --------------------------- PRINTED NAME OF RESPONSIBLE PARTY DATE PREPARER: /s/ Kevin K. Craig CONTROLLER, KITTY HAWK INC. - --------------------------------------------- --------------------------- ORIGINAL SIGNATURE OF PREPARER TITLE KEVIN K. CRAIG 3/20/2001 - --------------------------------------------- --------------------------- PRINTED NAME OF PREPARER DATE MONTHLY OPERATING REPORT CASE NAME: AIRCRAFT LEASING, INC. ACCRUAL BASIS-1 CASE NUMBER: 400-42148-BJH-11 02/13/95, RWD, 2/96 COMPARATIVE BALANCE SHEET
SCHEDULE MONTH MONTH MONTH ------------- -------------- ASSETS AMOUNT JANUARY, 2001 FEBRUARY, 2001 - ------------------------------------------------------------------------------------------------------------------- 1. UNRESTRICTED CASH $0 $0 $0 $0 2. RESTRICTED CASH $0 $632,475 $320,642 $0 3. TOTAL CASH $0 $632,475 $320,642 $0 - ------------------------------------------------------------------------------------------------------------------- 4. ACCOUNTS RECEIVABLE (NET) $0 $0 $0 $0 5. INVENTORY $0 $0 $0 $0 6. NOTES RECEIVABLE $0 $0 $0 $0 7. PREPAID EXPENSES $0 $0 $0 $0 8. OTHER (ATTACH LIST) ($33,904,344) ($18,078,186) ($16,350,041) $0 9. TOTAL CURRENT ASSETS ($33,904,344) ($17,445,711) ($16,029,399) $0 - ------------------------------------------------------------------------------------------------------------------- 10. PROPERTY, PLANT & EQUIPMENT $81,907,719 $75,028,395 $73,916,638 $0 11. LESS: ACCUMULATED DEPRECIATION / DEPLETION $33,669,772 $34,405,980 $34,212,945 $0 12. NET PROPERTY, PLANT & EQUIPMENT $48,237,946 $40,622,415 $39,703,693 $0 - ------------------------------------------------------------------------------------------------------------------- 13. DUE FROM INSIDERS $0 $0 $0 $0 14. OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) $0 $0 $0 $0 15. OTHER (ATTACH LIST) $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------- 16. ASSETS $14,333,602 $23,176,704 $23,674,294 $0 =================================================================================================================== POSTPETITION LIABILITIES 17. ACCOUNTS PAYABLE $0 $0 $0 18. TAXES PAYABLE $0 $0 $0 19. NOTES PAYABLE $0 $0 $0 20. PROFESSIONAL FEES $0 $0 $0 21. SECURED DEBT $0 $0 $0 22. OTHER (ATTACH LIST) $3,191,685 $3,390,721 $0 - ------------------------------------------------------------------------------------------------------------------- 23. TOTAL POSTPETITION LIABILITIES $3,191,685 $3,390,721 $0 =================================================================================================================== PREPETITION LIABILITIES 24. SECURED DEBT $2,811,382 $8,791 $8,791 $0 25. PRIORITY DEBT $0 $0 $0 $0 26. UNSECURED DEBT $0 $0 $0 $0 27. OTHER (ATTACH LIST) $1,300,001 $2,399,516 $2,399,516 $0 28. TOTAL PREPETITION LIABILITIES $4,111,383 $2,408,307 $2,408,307 $0 - ------------------------------------------------------------------------------------------------------------------- 29. TOTAL LIABILITIES $4,111,383 $5,599,992 $5,799,028 $0 =================================================================================================================== EQUITY 30. PREPETITION OWNERS' EQUITY $0 $12,789,185 $12,789,185 $0 31. POSTPETITION CUMULATIVE PROFIT OR (LOSS) $4,787,527 $5,086,081 $0 32. DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) $0 $0 $0 33. TOTAL EQUITY $0 $17,576,712 $17,875,266 $0 - ------------------------------------------------------------------------------------------------------------------- 34. TOTAL LIABILITIES & OWNERS' EQUITY $4,111,383 $23,176,704 $23,674,294 $0 $0 $0 $0 ===================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: AIRCRAFT LEASING, INC. ACCRUAL BASIS-2 CASE NUMBER: 400-42148-BJH-11 02/13/95, RWD, 2/96 INCOME STATEMENT
MONTH MONTH MONTH QUARTER ------------- ------------- REVENUES JANUARY, 2001 FEBRUARY, 2001 TOTAL - ---------------------------------------------------------------------------------------------------------------- 1. GROSS REVENUES $969,000 $969,000 $0 $1,938,000 2. LESS: RETURNS & DISCOUNTS $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------- 3. NET REVENUE $969,000 $969,000 $0 $1,938,000 ================================================================================================================ COST OF GOODS SOLD 4. MATERIAL $0 $0 $0 $0 5. DIRECT LABOR $0 $0 $0 $0 6. DIRECT OVERHEAD $0 $0 $0 $0 7. TOTAL COST OF GOODS SOLD $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------- 8. GROSS PROFIT $969,000 $969,000 $0 $1,938,000 ================================================================================================================ OPERATING EXPENSES 9. OFFICER / INSIDER COMPENSATION $0 $0 $0 $0 10. SELLING & MARKETING $0 $0 $0 $0 11. GENERAL & ADMINISTRATIVE $0 $0 $0 $0 12. RENT & LEASE $0 $0 $0 $0 13. OTHER (ATTACH LIST) $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------- 14. TOTAL OPERATING EXPENSES $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------- 15. INCOME BEFORE NON-OPERATING INCOME & EXPENSE $969,000 $969,000 $0 $1,938,000 ================================================================================================================ OTHER INCOME & EXPENSES 16. NON-OPERATING INCOME (ATT. LIST) ($7,247) ($4,640) $0 ($11,887) 17. NON-OPERATING EXPENSE (ATT. LIST) $0 $0 $0 $0 18. INTEREST EXPENSE $0 $0 $0 $0 19. DEPRECIATION / DEPLETION $443,020 $442,672 $0 $885,692 20. AMORTIZATION $0 $0 $0 $0 21. OTHER (ATTACH LIST) ($434,229) $33,378 $0 ($400,851) - ---------------------------------------------------------------------------------------------------------------- 22. NET OTHER INCOME & EXPENSES $1,544 $471,410 $0 $472,954 ================================================================================================================ REORGANIZATION EXPENSES 23. PROFESSIONAL FEES $0 $0 $0 24. U.S. TRUSTEE FEES $0 $0 $0 $0 25. OTHER (ATTACH LIST) $0 $0 $0 $0 26. TOTAL REORGANIZATION EXPENSES $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------- 27. INCOME TAX $386,983 $199,036 $0 $586,019 - ---------------------------------------------------------------------------------------------------------------- 28. NET PROFIT (LOSS) $580,473 $298,554 $0 $879,027 ================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: AIRCRAFT LEASING, INC. ACCRUAL BASIS-3 CASE NUMBER: 400-42148-BJH-11 02/13/95, RWD, 2/96
MONTH MONTH MONTH QUARTER ------------- -------------- CASH RECEIPTS AND DISBURSEMENTS JANUARY, 2001 FEBRUARY, 2001 TOTAL - -------------------------------------------------------------------------------------------------------------------------- 1. CASH - BEGINNING OF MONTH $1,167,478 $632,475 $320,642 $1,167,478 - -------------------------------------------------------------------------------------------------------------------------- RECEIPTS FROM OPERATIONS 2. CASH SALES $0 $0 $0 $0 - -------------------------------------------------------------------------------------------------------------------------- COLLECTION OF ACCOUNTS RECEIVABLE 3. PREPETITION $0 $0 $0 $0 4. POSTPETITION $0 $0 $0 $0 - -------------------------------------------------------------------------------------------------------------------------- 5. TOTAL OPERATING RECEIPTS $0 $0 $0 $0 ========================================================================================================================== NON-OPERATING RECEIPTS 6. LOANS & ADVANCES (ATTACH LIST) $0 $0 $0 $0 7. SALE OF ASSETS $0 $0 $0 $0 8. OTHER (ATTACH LIST) $7,247 $4,640 $0 $11,887 9. TOTAL NON-OPERATING RECEIPTS $7,247 $4,640 $0 $11,887 - -------------------------------------------------------------------------------------------------------------------------- 10. TOTAL RECEIPTS $7,247 $4,640 $0 $11,887 - -------------------------------------------------------------------------------------------------------------------------- 11. TOTAL CASH AVAILABLE $1,174,725 $637,115 $320,642 $1,179,365 ========================================================================================================================== OPERATING DISBURSEMENTS 12. NET PAYROLL $0 $0 $0 $0 13. PAYROLL TAXES PAID $0 $0 $0 $0 14. SALES, USE & OTHER TAXES PAID $0 $0 $0 $0 15. SECURED / RENTAL / LEASES $0 $0 $0 $0 16. UTILITIES $0 $0 $0 $0 17. INSURANCE $0 $0 $0 $0 18. INVENTORY PURCHASES $0 $0 $0 $0 19. VEHICLE EXPENSES $0 $0 $0 $0 20. TRAVEL $0 $0 $0 $0 21. ENTERTAINMENT $0 $0 $0 $0 22. REPAIRS & MAINTENANCE $0 $0 $0 $0 23. SUPPLIES $0 $0 $0 $0 24. ADVERTISING $0 $0 $0 $0 25. OTHER (ATTACH LIST) $0 $0 $0 $0 - -------------------------------------------------------------------------------------------------------------------------- 26. TOTAL OPERATING DISBURSEMENTS $0 $0 $0 $0 ========================================================================================================================== REORGANIZATION EXPENSES 27. PROFESSIONAL FEES $542,250 $316,473 $0 $858,723 28. U.S. TRUSTEE FEES $0 $0 $0 $0 29. OTHER (ATTACH LIST) $0 $0 $0 $0 30. TOTAL REORGANIZATION EXPENSES $542,250 $316,473 $0 $858,723 31. TOTAL DISBURSEMENTS $542,250 $316,473 $0 $858,723 32. NET CASH FLOW ($535,003) ($311,833) $0 ($846,836) - -------------------------------------------------------------------------------------------------------------------------- 33. CASH - END OF MONTH $632,475 $320,642 $320,642 $320,642 ==========================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: AIRCRAFT LEASING, INC. ACCRUAL BASIS-4 CASE NUMBER: 400-42148-BJH-11 02/13/95, RWD, 2/96
SCHEDULE MONTH MONTH MONTH ------------- -------------- ACCOUNTS RECEIVABLE AGING AMOUNT JANUARY, 2001 FEBRUARY, 2001 - --------------------------------------------------------------------------------------------------------------------------- 1. 0-30 $0 $0 $0 $0 2. 31-60 $0 $0 $0 $0 3. 61-90 $0 $0 $0 $0 4. 91+ $0 $0 $0 $0 5. TOTAL ACCOUNTS RECEIVABLE $0 $0 $0 $0 - --------------------------------------------------------------------------------------------------------------------------- 6. AMOUNT CONSIDERED UNCOLLECTIBLE $0 $0 $0 $0 - --------------------------------------------------------------------------------------------------------------------------- 7. ACCOUNTS RECEIVABLE (NET) $0 $0 $0 $0 ===========================================================================================================================
AGING OF POSTPETITION TAXES AND PAYABLES MONTH: FEBRUARY, 2001 - --------------------------------------------------------------------------------------------------------------------------- 0-30 31-60 61-90 91+ TAXES PAYABLE DAYS DAYS DAYS DAYS TOTAL - --------------------------------------------------------------------------------------------------------------------------- 1. FEDERAL $0 $0 $0 $0 $0 2. STATE $0 $0 $0 $0 $0 3. LOCAL $0 $0 $0 $0 $0 4. OTHER (ATTACH LIST) $0 $0 $0 $0 $0 - --------------------------------------------------------------------------------------------------------------------------- 5. TOTAL TAXES PAYABLE $0 $0 $0 $0 $0 =========================================================================================================================== 6. ACCOUNTS PAYABLE $0 $0 $0 $0 $0 ===========================================================================================================================
STATUS OF POSTPETITION TAXES MONTH: FEBRUARY, 2001
BEGINNING AMOUNT ENDING TAX WITHHELD AND/ AMOUNT TAX FEDERAL LIABILITY* OR ACCRUED PAID LIABILITY - ---------------------------------------------------------------------------------------------------------------------------- 1. WITHHOLDING** $0 $0 $0 $0 2. FICA-EMPLOYEE** $0 $0 $0 $0 3. FICA-EMPLOYER** $0 $0 $0 $0 4. UNEMPLOYMENT $0 $0 $0 $0 5. INCOME $0 $0 $0 $0 6. OTHER (ATTACH LIST) $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------------------- 7. TOTAL FEDERAL TAXES $0 $0 $0 $0 ============================================================================================================================ STATE AND LOCAL 8. WITHHOLDING $0 $0 $0 $0 9. SALES $0 $0 $0 $0 10. EXCISE $0 $0 $0 $0 11. UNEMPLOYMENT $0 $0 $0 $0 12. REAL PROPERTY $0 $0 $0 $0 13. PERSONAL PROPERTY $0 $0 $0 $0 14. OTHER (ATTACH LIST) $0 $0 $0 $0 15. TOTAL STATE & LOCAL $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------------------- 16. TOTAL TAXES $0 $0 $0 $0 ============================================================================================================================
* 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 CASE NAME: AIRCRAFT LEASING, INC. ACCRUAL BASIS-5 CASE NUMBER: 400-42148-BJH-11 02/13/95, RWD, 2/96 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, 2001 BANK RECONCILIATIONS
Account #1 Account #2 Account #3 TOTAL - ---------------------------------------------------------------------------------------------------------------------------- A. BANK: B. ACCOUNT NUMBER: C. PURPOSE (TYPE): - ---------------------------------------------------------------------------------------------------------------------------- 1. BALANCE PER BANK STATEMENT $0 $0 2. ADD: TOTAL DEPOSITS NOT CREDITED $0 $0 3. SUBTRACT: OUTSTANDING CHECKS $0 $0 4. OTHER RECONCILING ITEMS $0 $0 5. MONTH END BALANCE PER BOOKS $0 $0 $0 $0 6. NUMBER OF LAST CHECK WRITTEN
INVESTMENT ACCOUNTS
DATE OF TYPE OF PURCHASE CURRENT PURCHASE INSTRUMENT PRICE VALUE BANK, ACCOUNT NAME & NUMBER - ---------------------------------------------------------------------------------------------------------------------------- 7. BANK ONE TRUST (ESCROW) 6801456800* 1/3/00 MONEY MARKET $3,625,000 $0 8. HSBC Bank USA (ESCROW) #10-876110 6/19/00 MONEY MARKET $3,560,463 $320,642 9. 10. 11. TOTAL INVESTMENTS $320,642 CASH - ---------------------------------------------------------------------------------------------------------------------------- 12. CURRENCY ON HAND $0 - ---------------------------------------------------------------------------------------------------------------------------- 13. TOTAL CASH - END OF MONTH $320,642 - ----------------------------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT CASE NAME: AIRCRAFT LEASING, INC. ACCRUAL BASIS-6 CASE NUMBER: 400-42148-BJH-11 02/13/95, RWD, 2/96 MONTH: FEBRUARY, 2001 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 - ------------------------------------------------------------------------------- TYPE OF AMOUNT TOTAL PAID NAME PAYMENT PAID TO DATE - ------------------------------------------------------------------------------- 1. SEE KITTY HAWK, INC. MOR - CASE # 400-42141-BJH-11 2. 3. 4. 5. - ------------------------------------------------------------------------------- 6. TOTAL PAYMENTS TO INSIDERS $0 $0 ===============================================================================
PROFESSIONALS - ------------------------------------------------------------------------------- DATE OF COURT TOTAL ORDER AUTHORIZING AMOUNT AMOUNT TOTAL PAID INCURRED NAME PAYMENT APPROVED PAID TO DATE & UNPAID * - ------------------------------------------------------------------------------------------------- 1. SEE KITTY HAWK, INC. MOR - CASE # 400-42141-BJH-11 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
SCHEDULED AMOUNTS MONTHLY PAID TOTAL PAYMENTS DURING UNPAID NAME OF CREDITOR DUE MONTH POSTPETITION - -------------------------------------------------------------------------------------- 1. FIRST SOURCE BANK (865001) $0 $0 $0 2. FIRST SOURCE BANK (RPS) $0 $0 $0 3. FIRST SOURCE BANK (AIA) $0 $0 $0 4. $0 5. $0 - -------------------------------------------------------------------------------------- 6. TOTAL $0 $0 $0 ======================================================================================
MONTHLY OPERATING REPORT CASE NAME: AIRCRAFT LEASING, INC. ACCRUAL BASIS-7 CASE NUMBER: 400-42148-BJH-11 02/13/95, RWD, 2/96 MONTH: FEBRUARY, 2001 QUESTIONNAIRE - -------------------------------------------------------------------------------
YES NO - ------------------------------------------------------------------------------- 1. HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? X - ------------------------------------------------------------------------------- 2. HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? X - ------------------------------------------------------------------------------- 3. ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? X - ------------------------------------------------------------------------------- 4. HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? X - ------------------------------------------------------------------------------- 5. HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? X - ------------------------------------------------------------------------------- 6. ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? X - ------------------------------------------------------------------------------- 7. ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? X - ------------------------------------------------------------------------------- 8. ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? X - ------------------------------------------------------------------------------- 9. ARE ANY OTHER POSTPETITION TAXES PAST DUE? X - ------------------------------------------------------------------------------- 10. ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? X - ------------------------------------------------------------------------------- 11. HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? X - ------------------------------------------------------------------------------- 12. ARE ANY WAGE PAYMENTS PAST DUE? X - -------------------------------------------------------------------------------
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES," PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY. a) $476,050 Loss on Write-Off of LHI for Returned aircraft N901RF & N902RF b) $316,473 Disbursement to Successor Trustee of (HSBC-Escrow) account for Professional Fees (transfer expense to KH Inc & KH Int'l) INSURANCE - -------------------------------------------------------------------------------
YES NO - ------------------------------------------------------------------------------- 1. ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? X - ------------------------------------------------------------------------------- 2. ARE ALL PREMIUM PAYMENTS PAID CURRENT? X - ------------------------------------------------------------------------------- 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 PAYMENT AMOUNT POLICY CARRIER PERIOD COVERED & FREQUENCY - ------------------------------------------------------------------------------- SEE KITTY HAWK, INC. MOR - CASE # 400-42141-BJH-11
CASE NAME: AIRCRAFT LEASING, INC. FOOTNOTES SUPPLEMENT CASE NUMBER: 400-42148-BJH-11 ACCRUAL BASIS MONTH: FEBRUARY, 2001
ACCRUAL BASIS LINE FOOTNOTE / EXPLANATION FORM NUMBER NUMBER - --------------------------------------------------------------------------------------------------------------- 3 8 All cash received into the subsidiary cash account is swept each night to Kitty Hawk, Inc. Master Account - --------------------------------------------------------------------------------------------------------------- 3 31 All disbursements (either by wire transfer or check), including payroll, are disbursed out of the Kitty Hawk, Inc. controlled disbursement account. - --------------------------------------------------------------------------------------------------------------- 4 6 All assessments of uncollectible accounts receivable are done at Kitty Hawk, Inc. All reserves are recorded at Inc. and pushed down to Inc.'s subsidiaries as deemed necessary. - --------------------------------------------------------------------------------------------------------------- 7 3 All insurance policies are carried in the name of Kitty Hawk, Inc. and its subsidiaries. Therefore, they are listed here accordingly. - ---------------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT CASE NAME: AIRCRAFT LEASING, INC. ACCRUAL BASIS-ATTACHMENT CASE NUMBER: 400-42148-BJH-11 MONTH: FEBRUARY, 2001
MOR # ITEM # LIST OR EXPLANATION - ------------------------------------------------------------------------------------------------------------------------------------ 1 - BS 8 a) $50,000 Deposit for Retainer & Legal Fees from Bank One Trust to Lessor's Counsel b) ($16,400,041) Intercompany Cummulative Receivable/Payable Credit Balance - ------------------------------------------------------------------------------------------------------------------------------------ 1 - BS 22 a) $3,390,721 Accrued Federal Income Taxes (Post-petition) - ------------------------------------------------------------------------------------------------------------------------------------ 1 - BS 27 a) $2,399,516 Accrued Taxes Payable (Pre-petition) - ------------------------------------------------------------------------------------------------------------------------------------ 2 - IS 16 a) $4,640 Interest Income (from HSBC -Escrow account) - ------------------------------------------------------------------------------------------------------------------------------------ 2 - IS 21 a) $476,050 Loss on Disposition of Leasehold Improvements on Returned A/C: N901RF & N902RF b) ($442,672) Credit for Allocation of A/C Costs to KH Cargo (vs I/C) - ------------------------------------------------------------------------------------------------------------------------------------ 3 - CF 8 a) $4,640 Interest Income (from HSBC -Escrow account) - ------------------------------------------------------------------------------------------------------------------------------------ 4 - AP T6 a) Federal Income Taxes are now shown as Other Accrued Liabilities (due to deferred tax credits) - ------------------------------------------------------------------------------------------------------------------------------------ 7 - QA 2 a) $316,473 Disbursement to Successor Trustee of (HSBC-Escrow) account for Professional Fees, Transferred to KH Inc & KH Int'l - ------------------------------------------------------------------------------------------------------------------------------------
EX-99.9 10 a2043092zex-99_9.txt EX-99.9 EXHIBIT 99.9 MONTHLY OPERATING REPORT CASE NAME: AMERICAN INTERNATIONAL TRAVEL, INC. ACCRUAL BASIS CASE NUMBER: 400-42149-BJH-11 02/13/95, RWD, 2/96 JUDGE: BARBARA J. HOUSER UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF TEXAS SIXTH DIVISION MONTHLY OPERATING REPORT MONTH ENDING: FEBRUARY 28, 2001 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/Drew Keith Chief Financial Officer - ------------------------------------------- --------------------------------- ORIGINAL SIGNATURE OF RESPONSIBLE PARTY TITLE Drew Keith 3/20/2001 - ------------------------------------------- --------------------------------- PRINTED NAME OF RESPONSIBLE PARTY DATE PREPARER: /s/Jessica L. Wilson Chief Accounting Officer - ------------------------------------------- --------------------------------- ORIGINAL SIGNATURE OF PREPARER TITLE Jessica L. Wilson 3/20/2001 - ------------------------------------------- --------------------------------- PRINTED NAME OF PREPARER DATE MONTHLY OPERATING REPORT CASE NAME: AMERICAN INTERNATIONAL TRAVEL, INC. ACCRUAL BASIS-1 CASE NUMBER: 400-42149-BJH-11 02/13/95, RWD, 2/96 COMPARATIVE BALANCE SHEET
SCHEDULE MONTH MONTH MONTH ------------ -------------- ASSETS AMOUNT January 2001 February 2001 ---------------------------------------------------------------------------------------------------------------- 1. UNRESTRICTED CASH $64,520 $0 $0 $0 2. RESTRICTED CASH $0 $0 $0 3. TOTAL CASH $64,520 $0 $0 $0 ---------------------------------------------------------------------------------------------------------------- 4. ACCOUNTS RECEIVABLE (NET) $0 $0 $0 5. INVENTORY $0 $0 $0 6. NOTES RECEIVABLE $0 $0 $0 7. PREPAID EXPENSES $0 $0 $0 8. OTHER (ATTACH LIST) ($439,539) ($439,539) $0 9. TOTAL CURRENT ASSETS $64,520 ($439,539) ($439,539) $0 ---------------------------------------------------------------------------------------------------------------- 10. PROPERTY, PLANT & EQUIPMENT $0 $0 $0 11. LESS: ACCUMULATED DEPRECIATION / DEPLETION $0 $0 $0 12. NET PROPERTY, PLANT & EQUIPMENT $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------------- 13. DUE FROM INSIDERS $0 $0 $0 14. OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) $0 $0 $0 15. OTHER (ATTACH LIST) $0 $0 $0 ---------------------------------------------------------------------------------------------------------------- 16. TOTAL ASSETS $64,520 ($439,539) ($439,539) $0 ================================================================================================================ POSTPETITION LIABILITIES 17. ACCOUNTS PAYABLE $0 $0 $0 18. TAXES PAYABLE $0 $0 $0 19. NOTES PAYABLE $0 $0 $0 20. PROFESSIONAL FEES $0 $0 $0 21. SECURED DEBT $0 $0 $0 22. OTHER (ATTACH LIST) $0 $0 $0 ---------------------------------------------------------------------------------------------------------------- 23. TOTAL POSTPETITION LIABILITIES $0 $0 $0 ================================================================================================================ PREPETITION LIABILITIES 24. SECURED DEBT $0 $0 $0 25. PRIORITY DEBT $16,503 $0 $0 $0 26. UNSECURED DEBT $513,635 ($84,891) ($84,891) $0 27. OTHER (ATTACH LIST) $0 $0 $0 28. TOTAL PREPETITION LIABILITIES $530,138 ($84,891) ($84,891) $0 ---------------------------------------------------------------------------------------------------------------- 29. TOTAL LIABILITIES $530,138 ($84,891) ($84,891) $0 ================================================================================================================ EQUITY 30. PREPETITION OWNERS' EQUITY ($359,163) ($359,163) $0 31. POSTPETITION CUMULATIVE PROFIT OR (LOSS) $4,515 $4,515 $0 32. DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) 33. TOTAL EQUITY $0 ($354,648) ($354,648) $0 ---------------------------------------------------------------------------------------------------------------- 34. TOTAL LIABILITIES & OWNERS' EQUITY $530,138 ($439,539) ($439,539) $0 ================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: AMERICAN INTERNATIONAL TRAVEL, INC. ACCRUAL BASIS-2 CASE NUMBER: 400-42149-BJH-11 02/13/95, RWD, 2/96 INCOME STATEMENT
MONTH MONTH MONTH QUARTER ------------ ------------- REVENUES January 2001 February 2001 TOTAL --------------------------------------------------------------------------------------------------- 1. GROSS REVENUES $0 $0 $0 $0 2. LESS: RETURNS & DISCOUNTS $0 $0 $0 $0 --------------------------------------------------------------------------------------------------- 3. NET REVENUE $0 $0 $0 $0 =================================================================================================== COST OF GOODS SOLD 4. MATERIAL $0 $0 $0 $0 5. DIRECT LABOR $0 $0 $0 $0 6. DIRECT OVERHEAD $0 $0 $0 $0 7. TOTAL COST OF GOODS SOLD $0 $0 $0 $0 --------------------------------------------------------------------------------------------------- 8. GROSS PROFIT $0 $0 $0 $0 =================================================================================================== OPERATING EXPENSES 9. OFFICER / INSIDER COMPENSATION $0 $0 $0 $0 10. SELLING & MARKETING $0 $0 $0 $0 11. GENERAL & ADMINISTRATIVE $0 $0 $0 $0 12. RENT & LEASE $0 $0 $0 $0 13. OTHER (ATTACH LIST) $0 $0 $0 $0 --------------------------------------------------------------------------------------------------- 14. TOTAL OPERATING EXPENSES $0 $0 $0 $0 --------------------------------------------------------------------------------------------------- 15. INCOME BEFORE NON-OPERATING INCOME & EXPENSE $0 $0 $0 $0 =================================================================================================== OTHER INCOME & EXPENSES 16. NON-OPERATING INCOME (ATT. LIST) $0 $0 $0 $0 17. NON-OPERATING EXPENSE (ATT. LIST) $0 $0 $0 $0 18. INTEREST EXPENSE $0 $0 $0 $0 19. DEPRECIATION / DEPLETION $0 $0 $0 $0 20. AMORTIZATION $0 $0 $0 $0 21. OTHER (ATTACH LIST) $0 $0 $0 $0 --------------------------------------------------------------------------------------------------- 22. NET OTHER INCOME & EXPENSES $0 $0 $0 $0 =================================================================================================== REORGANIZATION EXPENSES 23. PROFESSIONAL FEES $0 $0 $0 $0 24. U.S. TRUSTEE FEES $0 $0 $0 $0 25. OTHER (ATTACH LIST) $0 $0 $0 $0 26. TOTAL REORGANIZATION EXPENSES $0 $0 $0 $0 --------------------------------------------------------------------------------------------------- 27. INCOME TAX $0 $0 $0 $0 =================================================================================================== 28. NET PROFIT (LOSS) $0 $0 $0 $0 ===================================================================================================
MONTHLY OPERATING REPORT CASE NAME: AMERICAN INTERNATIONAL TRAVEL, INC. ACCRUAL BASIS-3 CASE NUMBER: 400-42149-BJH-11 02/13/95, RWD, 2/96
CASH RECEIPTS AND MONTH MONTH MONTH QUARTER ------------ ------------- DISBURSEMENTS January 2001 February 2001 TOTAL ---------------------------------------------------------------------------------------------------------- 1. CASH - BEGINNING OF MONTH $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------- RECEIPTS FROM OPERATIONS 2. CASH SALES $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------- COLLECTION OF ACCOUNTS RECEIVABLE 3. PREPETITION $0 $0 $0 $0 4. POSTPETITION $0 $0 $0 $0 5. TOTAL OPERATING RECEIPTS $0 $0 $0 $0 ========================================================================================================== NON - OPERATING RECEIPTS 6. LOANS & ADVANCES (ATTACH LIST) $0 $0 $0 $0 7. SALE OF ASSETS $0 $0 $0 $0 8. OTHER (ATTACH LIST) $0 $0 $0 $0 9. TOTAL NON-OPERATING RECEIPTS $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------- 10. TOTAL RECEIPTS $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------- 11. TOTAL CASH AVAILABLE $0 $0 $0 $0 ========================================================================================================== OPERATING DISBURSEMENTS 12. NET PAYROLL $0 $0 $0 $0 13. PAYROLL TAXES PAID $0 $0 $0 $0 14. SALES, USE & OTHER TAXES PAID $0 $0 $0 $0 15. SECURED / RENTAL / LEASES $0 $0 $0 $0 16. UTILITIES $0 $0 $0 $0 17. INSURANCE $0 $0 $0 $0 18. INVENTORY PURCHASES $0 $0 $0 $0 19. VEHICLE EXPENSES $0 $0 $0 $0 20. TRAVEL $0 $0 $0 $0 21. ENTERTAINMENT $0 $0 $0 $0 22. REPAIRS & MAINTENANCE $0 $0 $0 $0 23. SUPPLIES $0 $0 $0 $0 24. ADVERTISING $0 $0 $0 $0 25. OTHER (ATTACH LIST) $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------- 26. TOTAL OPERATING DISBURSEMENTS $0 $0 $0 $0 ========================================================================================================== REORGANIZATION EXPENSES 27. PROFESSIONAL FEES $0 $0 $0 $0 28. U.S. TRUSTEE FEES $0 $0 $0 $0 29. OTHER (ATTACH LIST) $0 $0 $0 $0 30. TOTAL REORGANIZATION EXPENSES $0 $0 $0 $0 31. TOTAL DISBURSEMENTS $0 $0 $0 $0 32. NET CASH FLOW $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------- 33. CASH - END OF MONTH $0 $0 $0 $0 ==========================================================================================================
MONTHLY OPERATING REPORT CASE NAME: AMERICAN INTERNATIONAL TRAVEL, INC. ACCRUAL BASIS-4 CASE NUMBER: 400-42149-BJH-11 2/13/95, RWD, 2/96
SCHEDULE MONTH MONTH MONTH ------------ ------------- ACCOUNTS RECEIVABLE AGING AMOUNT January 2001 February 2001 ---------------------------------------------------------------------------------------------------------------- 1. 0-30 $0 $0 $0 $0 2. 31-60 $0 $0 $0 $0 3. 61-90 $0 $0 $0 $0 4. 91+ $0 $0 $0 $0 5. TOTAL ACCOUNTS RECEIVABLE $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------------- 6. AMOUNT CONSIDERED UNCOLLECTIBLE $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------------- 7. ACCOUNTS RECEIVABLE (NET) $0 $0 $0 $0 ================================================================================================================
AGING OF POSTPETITION TAXES AND PAYABLES MONTH: February 2001 - --------------------------------------------- 0-30 31-60 61-90 91+ TAXES PAYABLE DAYS DAYS DAYS DAYS TOTAL ---------------------------------------------------------------------------------------------------------------- 1. FEDERAL $0 $0 $0 $0 $0 2. STATE $0 $0 $0 $0 $0 3. LOCAL $0 $0 $0 $0 $0 4. OTHER (ATTACH LIST) $0 $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------------- 5. TOTAL TAXES PAYABLE $0 $0 $0 $0 $0 ================================================================================================================ 6. ACCOUNTS PAYABLE $0 $0 $0 $0 $0 ================================================================================================================
STATUS OF POSTPETITION TAXES MONTH: February 2001 - ------------------------------- BEGINNING AMOUNT ENDING TAX WITHHELD AND/ AMOUNT TAX FEDERAL LIABILITY* 0R ACCRUED PAID LIABILITY ---------------------------------------------------------------------------------------------------------------- 1. WITHHOLDING** $0 $0 $0 $0 2. FICA-EMPLOYEE** $0 $0 $0 $0 3. FICA-EMPLOYER** $0 $0 $0 $0 4. UNEMPLOYMENT $0 $0 $0 $0 5. INCOME $0 $0 $0 $0 6. OTHER (ATTACH LIST) $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------------- 7. TOTAL FEDERAL TAXES $0 $0 $0 $0 ================================================================================================================ STATE AND LOCAL 8. WITHHOLDING $0 $0 $0 $0 9. SALES $0 $0 $0 $0 10. EXCISE $0 $0 $0 $0 11. UNEMPLOYMENT $0 $0 $0 $0 12. REAL PROPERTY $0 $0 $0 $0 13. PERSONAL PROPERTY $0 $0 $0 $0 14. OTHER (ATTACH LIST) $0 $0 $0 $0 15. TOTAL STATE & LOCAL $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------------- 16. TOTAL TAXES $0 $0 $0 $0 ================================================================================================================
* 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 CASE NAME: AMERICAN INTERNATIONAL TRAVEL, INC. ACCRUAL BASIS-5 CASE NUMBER: 400-42149-BJH-11 02/13/95, RWD, 2/96 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 2001 BANK RECONCILIATIONS Account #1 Account #2 Account #3 ---------------------------------------------------------------------------------------------------------- A. BANK: N/A B. ACCOUNT NUMBER: TOTAL C. PURPOSE (TYPE): ---------------------------------------------------------------------------------------------------------- 1. BALANCE PER BANK STATEMENT $0 2. ADD: TOTAL DEPOSITS NOT CREDITED $0 3. SUBTRACT: OUTSTANDING CHECKS $0 4. OTHER RECONCILING ITEMS $0 5. MONTH END BALANCE PER BOOKS $0 $0 $0 $0 6. NUMBER OF LAST CHECK WRITTEN
INVESTMENT ACCOUNTS DATE OF TYPE OF PURCHASE CURRENT BANK, ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE ---------------------------------------------------------------------------------------------------------- 7. N/A 8. N/A 9. N/A 10. N/A 11. TOTAL INVESTMENTS $0 $0 CASH ---------------------------------------------------------------------------------------------------------- 12. CURRENCY ON HAND $0 ---------------------------------------------------------------------------------------------------------- 13. TOTAL CASH - END OF MONTH $0 ----------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT CASE NAME: AMERICAN INTERNATIONAL TRAVEL, INC. ACCRUAL BASIS-6 CASE NUMBER: 400-42149-BJH-11 02/13/95, RWD, 2/96 MONTH: February 2001 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 - -------------------------------------------------------------------------------- TYPE OF AMOUNT TOTAL PAID NAME PAYMENT PAID TO DATE - -------------------------------------------------------------------------------- 1. N/A 2. N/A 3. N/A 4. N/A 5. N/A - -------------------------------------------------------------------------------- 6. TOTAL PAYMENTS TO INSIDERS $0 $0 ================================================================================
PROFESSIONALS -------------------------------------------------------------------------------------------------- DATE OF COURT TOTAL ORDER AUTHORIZING AMOUNT AMOUNT TOTAL PAID INCURRED NAME PAYMENT APPROVED PAID TO DATE & UNPAID * -------------------------------------------------------------------------------------------------- 1. N/A 2. N/A 3. N/A 4. N/A 5. N/A -------------------------------------------------------------------------------------------------- 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
SCHEDULED AMOUNTS MONTHLY PAID TOTAL PAYMENTS DURING UNPAID NAME OF CREDITOR DUE MONTH POSTPETITION -------------------------------------------------------------------------------------- 1. N/A 2. N/A 3. N/A 4. N/A 5. N/A -------------------------------------------------------------------------------------- 6. TOTAL $0 $0 $0 ======================================================================================
MONTHLY OPERATING REPORT CASE NAME: AMERICAN INTERNATIONAL TRAVEL, INC. ACCRUAL BASIS-7 CASE NUMBER: 400-42149-BJH-11 02/13/95, RWD, 2/96 MONTH: February 2001
QUESTIONNAIRE ----------------------------------------------------------------------------------------------- YES NO ----------------------------------------------------------------------------------------------- 1. HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? X ----------------------------------------------------------------------------------------------- 2. HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? X ----------------------------------------------------------------------------------------------- 3. ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? X ----------------------------------------------------------------------------------------------- 4. HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? X ----------------------------------------------------------------------------------------------- 5. HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? X ----------------------------------------------------------------------------------------------- 6. ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? X ----------------------------------------------------------------------------------------------- 7. ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? X ----------------------------------------------------------------------------------------------- 8. ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? X ----------------------------------------------------------------------------------------------- 9. ARE ANY OTHER POSTPETITION TAXES PAST DUE? X ----------------------------------------------------------------------------------------------- 10. ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? X ----------------------------------------------------------------------------------------------- 11. HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? X ----------------------------------------------------------------------------------------------- 12. ARE ANY WAGE PAYMENTS PAST DUE? X -----------------------------------------------------------------------------------------------
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? X ----------------------------------------------------------------------------------------------- 2. ARE ALL PREMIUM PAYMENTS PAID CURRENT? X ----------------------------------------------------------------------------------------------- 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 PAYMENT AMOUNT POLICY CARRIER PERIOD COVERED & FREQUENCY - ----------------------------------------------------------------------------------------------------- Please see Case # 00-42141-BJH-11
CASE NAME: AMERICAN INTERNATIONAL TRAVEL, INC. CASE NUMBER: 400-42149-BJH-11 DETAILS OF OTHER ITEMS
ACCRUAL BASIS-1 February 2001 8. OTHER (ATTACH LIST) (439,539)Reported ---------------------------------- Intercompany Settlements 882 A/R KH International (246,860) CDI Inter-divisional Balancing (196,142) CDI - Debit/Credit Transfer 2,581 ---------------------------------- (439,539)Detail ---------------------------------- - Difference
CASE NAME: AMERICAN INTERNATIONAL TRAVEL, INC. FOOTNOTES SUPPLEMENT CASE NUMBER: 400-42149-BJH-11 ACCRUAL BASIS MONTH: February 2001
ACCRUAL BASIS FORM NUMBER LINE NUMBER FOOTNOTE / EXPLANATION - ------------------------------------------------------------------------------------------------------------ 6 All Professional fees related to the Reorganization of the Company are disbursed out of Kitty Hawk, Inc. (Parent Company). Refer to Case # 400-42141 - ------------------------------------------------------------------------------------------------------------ 7 All insurance plans related to the Company are carried at Kitty Hawk, Inc. (Parent Company). Refer to Case # 400-42141. - ------------------------------------------------------------------------------------------------------------ General This operation closed in May of 2000. Costs incurred to date may consisted of costs associated with shut down procedures as well as wrapping up final billings. - ------------------------------------------------------------------------------------------------------------ 3 28 All payments are made by Kitty Hawk, Inc. (Case #400-42141) - ------------------------------------------------------------------------------------------------------------
EX-99.10 11 a2043092zex-99_10.txt EX-99.10 EXHIBIT 99.10 MONTHLY OPERATING REPORT CASE NAME: FLIGHT ONE LOGISTICS, INC. ACCRUAL BASIS CASE NUMBER: 400-42069-BJH 02/13/95, RWD, 2/96 JUDGE: BARBARA J. HOUSER UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF TEXAS SIXTH DIVISION MONTHLY OPERATING REPORT MONTH ENDING: FEBRUARY 28, 2001 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/ DREW KEITH Chief Financial Officer - ------------------------------------------ ------------------------- ORIGINAL SIGNATURE OF RESPONSIBLE PARTY TITLE Drew Keith 3/20/2001 - ------------------------------------------ ------------------------- PRINTED NAME OF RESPONSIBLE PARTY DATE PREPARER: /s/ JESSICA L. WILSON Chief Accounting Officer - ------------------------------------------ ------------------------ ORIGINAL SIGNATURE OF PREPARER TITLE Jessica L. Wilson 3/20/2001 - ------------------------------------------ ------------------------ PRINTED NAME OF PREPARER DATE MONTHLY OPERATING REPORT CASE NAME: FLIGHT ONE LOGISTICS, INC. ACCRUAL BASIS-1 CASE NUMBER: 400-42069-BJH 02/13/95, RWD, 2/96 COMPARATIVE BALANCE SHEET
- ---------------------------------------------------------------------------------------------------------------------------- SCHEDULE MONTH MONTH MONTH AMOUNT January 2001 February 2001 - ---------------------------------------------------------------------------------------------------------------------------- ASSETS 1. UNRESTRICTED CASH $0 $0 $0 2. RESTRICTED CASH $0 $0 $0 3. TOTAL CASH $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------------------- 4. ACCOUNTS RECEIVABLE (NET) $20,742 $20,742 $0 5. INVENTORY $0 $0 $0 6. NOTES RECEIVABLE $0 $0 $0 7. PREPAID EXPENSES $0 $0 $0 8. OTHER (ATTACH LIST) $39,149 $724 $724 $0 - ---------------------------------------------------------------------------------------------------------------------------- 9. TOTAL CURRENT ASSETS $39,149 $21,466 $21,466 $0 10. PROPERTY, PLANT & EQUIPMENT $0 $0 $0 11. LESS: ACCUMULATED DEPRECIATION/DEPLETION $0 $0 $0 12. NET PROPERTY, PLANT & EQUIPMENT $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------------------- 13. DUE FROM INSIDERS $0 $0 $0 14. OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) $0 $0 $0 15. OTHER (ATTACH LIST) $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------------------- 16. TOTAL ASSETS $39,149 $21,466 $21,466 $0 ============================================================================================================================ POSTPETITION LIABILITIES 17. ACCOUNTS PAYABLE $0 $0 $0 18. TAXES PAYABLE $0 $0 $0 19. NOTES PAYABLE $0 $0 $0 20. PROFESSIONAL FEES $0 $0 $0 21. SECURED DEBT $0 $0 $0 22. OTHER (ATTACH LIST) $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------------------- 23. TOTAL POSTPETITION LIABILITIES $0 $0 $0 ============================================================================================================================ PREPETITION LIABILITIES 24. SECURED DEBT $0 $0 $0 25. PRIORITY DEBT $0 $0 $0 26. UNSECURED DEBT ($16,740) ($16,740) $0 27. OTHER (ATTACH LIST) $0 $0 $0 28. TOTAL PREPETITION LIABILITIES $0 ($16,740) ($16,740) $0 - ---------------------------------------------------------------------------------------------------------------------------- 29. TOTAL LIABILITIES $0 ($16,740) ($16,740) $0 ============================================================================================================================ EQUITY 30. PREPETITION OWNERS' EQUITY $38,956 $38,956 $0 31. POSTPETITION CUMULATIVE PROFIT OR (LOSS) ($750) ($750) $0 32. DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) 33. TOTAL EQUITY $0 $38,206 $38,206 $0 - ---------------------------------------------------------------------------------------------------------------------------- 34. TOTAL LIABILITIES & OWNERS' EQUITY $0 $21,466 $21,466 $0 ============================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: FLIGHT ONE LOGISTICS, INC. ACCRUAL BASIS-2 CASE NUMBER: 400-42069-BJH 02/13/95, RWD, 2/96 INCOME STATEMENT
- ------------------------------------------------------------------------------------------------------------------------ MONTH MONTH MONTH QUARTER ------------ ------------- REVENUES January 2001 February 2001 TOTAL - ------------------------------------------------------------------------------------------------------------------------ 1. GROSS REVENUES $0 $0 $0 $0 2. LESS: RETURNS & DISCOUNTS $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------ 3. NET REVENUE $0 $0 $0 $0 ======================================================================================================================== COST OF GOODS SOLD 4. MATERIAL $0 $0 $0 $0 5. DIRECT LABOR $0 $0 $0 $0 6. DIRECT OVERHEAD $0 $0 $0 $0 7. TOTAL COST OF GOODS SOLD $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------ 8. GROSS PROFIT $0 $0 $0 $0 ======================================================================================================================== OPERATING EXPENSES 9. OFFICER/INSIDER COMPENSATION $0 $0 $0 $0 10. SELLING & MARKETING $0 $0 $0 $0 11. GENERAL & ADMINISTRATIVE $0 $0 $0 $0 12. RENT & LEASE $0 $0 $0 $0 13. OTHER (ATTACH LIST) $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------ 14. TOTAL OPERATING EXPENSES $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------ 15. INCOME BEFORE NON-OPERATING INCOME & EXPENSE $0 $0 $0 $0 ======================================================================================================================== OTHER INCOME & EXPENSES 16. NON-OPERATING INCOME (ATT. LIST) $0 $0 $0 $0 17. NON-OPERATING EXPENSE (ATT. LIST) $0 $0 $0 $0 18. INTEREST EXPENSE $0 $0 $0 $0 19. DEPRECIATION/DEPLETION $0 $0 $0 $0 20. AMORTIZATION $0 $0 $0 $0 21. OTHER (ATTACH LIST) $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------ 22. NET OTHER INCOME & EXPENSES $0 $0 $0 $0 ======================================================================================================================== REORGANIZATION EXPENSES 23. PROFESSIONAL FEES $0 $0 $0 $0 24. U.S. TRUSTEE FEES $0 $0 $0 $0 25. OTHER (ATTACH LIST) $0 $0 $0 $0 26. TOTAL REORGANIZATION EXPENSES $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------ 27. INCOME TAX $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------------ 28. NET PROFIT (LOSS) $0 $0 $0 $0 ========================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: FLIGHT ONE LOGISTICS, INC. ACCRUAL BASIS-3 CASE NUMBER: 400-42069-BJH 02/13/95, RWD, 2/96
MONTH MONTH MONTH QUARTER ------------ ------------- CASH RECEIPTS AND DISBURSEMENTS January 2001 February 2001 TOTAL - ---------------------------------------------------------------------------------------------------------------------------- 1. CASH-BEGINNING OF MONTH $0 $0 $0 $0 RECEIPTS FROM OPERATIONS - ---------------------------------------------------------------------------------------------------------------------------- 2. CASH SALES $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------------------- COLLECTION OF ACCOUNTS RECEIVABLE 3. PREPETITION $0 $0 $0 $0 4. POSTPETITION $0 $0 $0 $0 5. TOTAL OPERATING RECEIPTS $0 $0 $0 $0 NON-OPERATING RECEIPTS 6. LOANS & ADVANCES (ATTACH LIST) $0 $0 $0 $0 7. SALE OF ASSETS $0 $0 $0 $0 8. OTHER (ATTACH LIST) $0 $0 $0 $0 9. TOTAL NON-OPERATING RECEIPTS $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------------------- 10. TOTAL RECEIPTS $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------------------- 11. TOTAL CASH AVAILABLE $0 $0 $0 $0 ============================================================================================================================ OPERATING DISBURSEMENTS 12. NET PAYROLL $0 $0 $0 $0 13. PAYROLL TAXES PAID $0 $0 $0 $0 14. SALES, USE & OTHER TAXES PAID $0 $0 $0 $0 15. SECURED/RENTAL/LEASES $0 $0 $0 $0 16. UTILITIES $0 $0 $0 $0 17. INSURANCE $0 $0 $0 $0 18. INVENTORY PURCHASES $0 $0 $0 $0 19. VEHICLE EXPENSES $0 $0 $0 $0 20. TRAVEL $0 $0 $0 $0 21. ENTERTAINMENT $0 $0 $0 $0 22. REPAIRS & MAINTENANCE $0 $0 $0 $0 23. SUPPLIES $0 $0 $0 $0 24. ADVERTISING $0 $0 $0 $0 25. OTHER (ATTACH LIST) $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------------------- 26. TOTAL OPERATING DISBURSEMENTS $0 $0 $0 $0 ============================================================================================================================ REORGANIZATION EXPENSES 27. PROFESSIONAL FEES $0 $0 $0 $0 28. U.S. TRUSTEE FEES $0 $0 $0 $0 29. OTHER (ATTACH LIST) $0 $0 $0 $0 30. TOTAL REORGANIZATION EXPENSES $0 $0 $0 $0 31. TOTAL DISBURSEMENTS $0 $0 $0 $0 32. NET CASH FLOW $0 $0 $0 $0 - ---------------------------------------------------------------------------------------------------------------------------- 33. CASH-END OF MONTH $0 $0 $0 $0 ============================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: FLIGHT ONE LOGISTICS, INC. ACCRUAL BASIS-4 CASE NUMBER: 400-42069-BJH 02/13/95, RWD, 2/96
SCHEDULE MONTH MONTH MONTH ------------ ------------- ACCOUNTS RECEIVABLE AGING AMOUNT January 2001 February 2001 - ----------------------------------------------------------------------------------------------------------------------------- 1. 0-30 $0 $0 $0 2. 31-60 $0 $0 $0 3. 61-90 $0 $0 $0 4. 91+ $20,742 $20,742 $0 5. TOTAL ACCOUNTS RECEIVABLE $0 $20,742 $20,742 $0 - ----------------------------------------------------------------------------------------------------------------------------- 6. AMOUNT CONSIDERED UNCOLLECTIBLE $0 $0 $0 - ----------------------------------------------------------------------------------------------------------------------------- 7. ACCOUNTS RECEIVABLE (NET) $0 $20,742 $20,742 $0 =============================================================================================================================
AGING OF POSTPETITION TAXES AND PAYABLES MONTH: February 2001 - ----------------------------------------
0-30 31-60 61-90 91+ TAXES PAYABLE DAYS DAYS DAYS DAYS TOTAL - ------------------------------------------------------------------------------------------------------------------ 1. FEDERAL $0 $0 $0 $0 $0 2. STATE $0 $0 $0 $0 $0 3. LOCAL $0 $0 $0 $0 $0 4. OTHER (ATTACH LIST) $0 $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------ 5. TOTAL TAXES PAYABLE $0 $0 $0 $0 $0 - ------------------------------------------------------------------------------------------------------------------ 6. ACCOUNTS PAYABLE $0 $0 $0 $0 $0 ==================================================================================================================
STATUS OF POSTPETITION TAXES MONTH: February 2001 - ----------------------------
BEGINNING AMOUNT ENDING TAX WITHHELD AND/ AMOUNT TAX FEDERAL LIABILITY* 0R ACCRUED PAID LIABILITY - -------------------------------------------------------------------------------------------------------------------------- 1. WITHHOLDING** $0 $0 $0 $0 2. FICA-EMPLOYEE** $0 $0 $0 $0 3. FICA-EMPLOYER** $0 $0 $0 $0 4. UNEMPLOYMENT $0 $0 $0 $0 5. INCOME $0 $0 $0 $0 6. OTHER (ATTACH LIST) $0 $0 $0 $0 - -------------------------------------------------------------------------------------------------------------------------- 7. TOTAL FEDERAL TAXES $0 $0 $0 $0 ========================================================================================================================== STATE AND LOCAL 8. WITHHOLDING $0 $0 $0 $0 9. SALES $0 $0 $0 $0 10. EXCISE $0 $0 $0 $0 11. UNEMPLOYMENT $0 $0 $0 $0 12. REAL PROPERTY $0 $0 $0 $0 13. PERSONAL PROPERTY $0 $0 $0 $0 14. OTHER (ATTACH LIST) $0 $0 $0 $0 15. TOTAL STATE & LOCAL $0 $0 $0 $0 - -------------------------------------------------------------------------------------------------------------------------- 16. TOTAL TAXES $0 $0 $0 $0 ==========================================================================================================================
* 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 CASE NAME: FLIGHT ONE LOGISTICS, INC. ACCRUAL BASIS-5 CASE NUMBER: 400-42069-BJH 02/13/95, RWD, 2/96 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 2001 BANK RECONCILIATIONS
Account #1 Account #2 Account #3 TOTAL - ----------------------------------------------------------------------------------------------------------------------------- A. BANK: N/A B. ACCOUNT NUMBER: N/A C. PURPOSE (TYPE): N/A - ----------------------------------------------------------------------------------------------------------------------------- 1. BALANCE PER BANK STATEMENT $0 2. ADD: TOTAL DEPOSITS NOT CREDITED $0 3. SUBTRACT: OUTSTANDING CHECKS $0 4. OTHER RECONCILING ITEMS $0 5. MONTH END BALANCE PER BOOKS $0 $0 $0 $0 6. NUMBER OF LAST CHECK WRITTEN
INVESTMENT ACCOUNTS
DATE OF TYPE OF PURCHASE CURRENT BANK, ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE - ----------------------------------------------------------------------------------------------------------------------------- 7. N/A 8. N/A 9. N/A 10. N/A 11. TOTAL INVESTMENTS $0 $0 CASH - ----------------------------------------------------------------------------------------------------------------------------- 12. CURRENCY ON HAND $0 - ----------------------------------------------------------------------------------------------------------------------------- 13. TOTAL CASH - END OF MONTH $0 - -----------------------------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT CASE NAME: FLIGHT ONE LOGISTICS, INC. ACCRUAL BASIS-6 CASE NUMBER: 400-42069-BJH 02/13/95, RWD, 2/96 MONTH: February 2001 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 - -------------------------------------------------------------------------------------- TYPE OF AMOUNT TOTAL PAID NAME PAYMENT PAID TO DATE - -------------------------------------------------------------------------------------- 1. N/A 2. N/A 3. N/A 4. N/A 5. N/A - -------------------------------------------------------------------------------------- 6. TOTAL PAYMENTS TO INSIDERS $0 $0 ======================================================================================
PROFESSIONALS - ------------------------------------------------------------------------------------------------ DATE OF COURT TOTAL ORDER AUTHORIZING AMOUNT AMOUNT TOTAL PAID INCURRED NAME PAYMENT APPROVED PAID TO DATE & UNPAID * - ------------------------------------------------------------------------------------------------ 1. N/A 2. N/A 3. N/A 4. N/A 5. N/A - ------------------------------------------------------------------------------------------------ 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
SCHEDULED AMOUNTS MONTHLY PAID TOTAL PAYMENTS DURING UNPAID NAME OF CREDITOR DUE MONTH POSTPETITION - ------------------------------------------------------------------------------------------------ 1. N/A 2. N/A 3. N/A 4. N/A 5. N/A - ------------------------------------------------------------------------------------------------ 6. TOTAL $0 $0 $0 ================================================================================================
MONTHLY OPERATING REPORT CASE NAME: FLIGHT ONE LOGISTICS, INC. ACCRUAL BASIS-7 CASE NUMBER: 400-42069-BJH 02/13/95, RWD, 2/96 MONTH: February 2001 QUESTIONNAIRE
- -------------------------------------------------------------------------------- YES NO - -------------------------------------------------------------------------------- 1. HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? X - -------------------------------------------------------------------------------- 2. HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? X - -------------------------------------------------------------------------------- 3. ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? X - -------------------------------------------------------------------------------- 4. HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? X - -------------------------------------------------------------------------------- 5. HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? X - -------------------------------------------------------------------------------- 6. ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? X - -------------------------------------------------------------------------------- 7. ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? X - -------------------------------------------------------------------------------- 8. ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? X - -------------------------------------------------------------------------------- 9. ARE ANY OTHER POSTPETITION TAXES PAST DUE? X - -------------------------------------------------------------------------------- 10. ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? X - -------------------------------------------------------------------------------- 11. HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? X - -------------------------------------------------------------------------------- 12. ARE ANY WAGE PAYMENTS PAST DUE? X - --------------------------------------------------------------------------------
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 COVERAGESIN EFFECT? X - -------------------------------------------------------------------------------- 2. ARE ALL PREMIUM PAYMENTS PAID CURRENT? X - -------------------------------------------------------------------------------- 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. This is a non-operating entity. There are no assets or employees with which to cover with insurance.
INSTALLMENT PAYMENTS - ------------------------------------------------------------------------------------------ TYPE OF PAYMENT AMOUNT POLICY CARRIER PERIOD COVERED & FREQUENCY - ------------------------------------------------------------------------------------------ N/A N/A N/A N/A N/A N/A
CASE NAME: Flight One Logistics, Inc. CASE NUMBER: 400-42069-BJH DETAILS OF OTHER ITEMS ACCRUAL BASIS-1 February 2001 8. OTHER (ATTACH LIST) $ 724 Reported Intercompany Receivables 724 Detail ---------------- - Difference CASE NAME: FLIGHT ONE LOGISTICS, INC. FOOTNOTES SUPPLEMENT CASE NUMBER: 400-42069-BJH ACCRUAL BASIS MONTH: February 2001
ACCRUAL BASIS FORM NUMBER LINE NUMBER FOOTNOTE/EXPLANATION - ------------------------------------------------------------------------------------------------------- 6 All Professional fees related to the Reorganization of the Company are disbursed out of Kitty Hawk, Inc. (Parent Company). Refer to Case # 400-42141 - ------------------------------------------------------------------------------------------------------- General This is a non-operating Company. - ------------------------------------------------------------------------------------------------------- 4 6 All assessments of uncollectible accounts receivable are done at Kitty Hawk, Inc. Refer to Case #400-42141. All reserves are recorded at Inc. and pushed down to Inc.'s subsidiaries as deemed necessary. - ------------------------------------------------------------------------------------------------------- 3 28 All payments are made by Kitty Hawk, Inc. (Case #400-42141) - -------------------------------------------------------------------------------------------------------
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