0000930661-01-501903.txt : 20011009
0000930661-01-501903.hdr.sgml : 20011009
ACCESSION NUMBER: 0000930661-01-501903
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 11
CONFORMED PERIOD OF REPORT: 20011001
ITEM INFORMATION: Other events
ITEM INFORMATION: Financial statements and exhibits
FILED AS OF DATE: 20011001
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: 1934 Act
SEC FILE NUMBER: 000-25202
FILM NUMBER: 1749738
BUSINESS ADDRESS:
STREET 1: P O BOX 612787
STREET 2: 1515 W 20TH ST
CITY: DALLAS/FT WORTH INTN
STATE: TX
ZIP: 75261
BUSINESS PHONE: 9724562200
MAIL ADDRESS:
STREET 1: P O BOX 612787
STREET 2: 1515 W 20TH ST
CITY: DALLAS/FT WORTH INTN
STATE: TX
ZIP: 75261
8-K
1
d8k.txt
FORM 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): October 1, 2001
Kitty Hawk, Inc.
(Exact name of registrant as specified in charter)
Delaware 0-25202 75-2564006
(State or other jurisdiction of (Commission File Number) (IRS Employer Identification No.)
incorporation)
1515 West 20/th/ Street
P.O. Box 612787
Dallas/Fort Worth
International Airport, Texas
(Address of principal 75261
executive offices) (Zip Code)
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 August 31,
2001 that the Company filed with the United States Bankruptcy Court for the
Northern District of Texas, Fort Worth Division on September 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
August 31, 2001 (1)
99.2 Monthly Operating Report for Kitty Hawk Aircargo, Inc. for the Period
Ended August 31, 2001 (1)
99.3 Monthly Operating Report for Kitty Hawk Charters, Inc. for the Period
Ended August 31, 2001 (1)
99.4 Monthly Operating Report for Kitty Hawk International, Inc. for the
Period Ended August 31, 2001 (1)
99.5 Monthly Operating Report for Kitty Hawk Cargo, Inc. for the Period
Ended August 31, 2001 (1)
99.6 Monthly Operating Report for O.K. Turbines, Inc. for the Period Ended
August 31, 2001 (1)
99.7 Monthly Operating Report for Longhorn Solutions, Inc. for the Period
Ended August 31, 2001 (1)
99.8 Monthly Operating Report for Aircraft Leasing, Inc. for the Period
Ended August 31, 2001 (1)
99.9 Monthly Operating Report for American International Travel, Inc. for
the Period Ended August 31, 2001 (1)
99.10 Monthly Operating Report for Flight One Logistics, Inc. for the
Period Ended August 31, 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: October 1, 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 August 31, 2001
99.2 Monthly Operating Report for Kitty Hawk Aircargo, Inc. for the
Period Ended August 31, 2001
99.3 Monthly Operating Report for Kitty Hawk Charters Inc. for the
Period Ended August 31, 2001
99.4 Monthly Operating Report for Kitty Hawk International Inc. for
the Period Ended August 31, 2001
99.5 Monthly Operating Report for Kitty Hawk Cargo, Inc. for the
Period Ended August 31, 2001
99.6 Monthly Operating Report for OK Turbines, Inc. for the Period
Ended August 31, 2001
99.7 Monthly Operating Report for Longhorn Solutions, Inc. for the
Period Ended August 31, 2001
99.8 Monthly Operating Report for Aircraft Leasing, Inc. for the
Period Ended August 31, 2001
99.9 Monthly Operating Report for American International Travel,
Inc. for the Period Ended August 31, 2001
99.10 Monthly Operating Report for Flight One Logistics, Inc. for
the Period Ended August 31, 2001
EX-99.1
3
dex991.txt
MONTHLY OPERATING REPORT FOR KITTY HAWK, INC.
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: AUGUST 31, 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 9/20/2001
------------------------------------------ -----------------------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
/s/ Jessica L. Wilson Chief Accounting Officer
------------------------------------------ -----------------------------
ORIGINAL SIGNATURE OF PREPARER TITLE
Jessica L. Wilson 9/20/2001
------------------------------------------ -----------------------------
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 July 2001 August 2001
-----------------------------------------------------------------------------------------------------------------------------------
1. UNRESTRICTED CASH $ 13,401,586 $ 38,432,411 $ 46,367,066 $0
-----------------------------------------------------------------------------------------------------------------------------------
2. RESTRICTED CASH $ 0 $ 0 $0
-----------------------------------------------------------------------------------------------------------------------------------
3. TOTAL CASH $ 13,401,586 $ 38,432,411 $ 46,367,066 $0
-----------------------------------------------------------------------------------------------------------------------------------
4. ACCOUNTS RECEIVABLE (NET) ($12,021,507) ($14,518,205) $0
-----------------------------------------------------------------------------------------------------------------------------------
5. INVENTORY ($1,016,667) ($1,016,667) $0
-----------------------------------------------------------------------------------------------------------------------------------
6. NOTES RECEIVABLE $ 15,000 $ 15,000 $ 15,000 $0
-----------------------------------------------------------------------------------------------------------------------------------
7. PREPAID EXPENSES $ 533,556 $ 678,791 $0
-----------------------------------------------------------------------------------------------------------------------------------
8. OTHER (ATTACH LIST) $422,186,692 $342,187,831 $336,963,075 $0
-----------------------------------------------------------------------------------------------------------------------------------
9. TOTAL CURRENT ASSETS $435,603,278 $368,130,624 $368,489,060 $0
-----------------------------------------------------------------------------------------------------------------------------------
10. PROPERTY, PLANT & EQUIPMENT $ 2,425,652 $ 6,101,169 $ 6,113,562 $0
-----------------------------------------------------------------------------------------------------------------------------------
11. LESS: ACCUMULATED
DEPRECIATION / DEPLETION $ 2,490,732 $ 2,569,952 $0
-----------------------------------------------------------------------------------------------------------------------------------
12. NET PROPERTY, PLANT &
EQUIPMENT $ 2,425,652 $ 3,610,437 $ 3,543,610 $0
-----------------------------------------------------------------------------------------------------------------------------------
13. DUE FROM INSIDERS $ 62,465 $ 219,367 $ 219,367 $0
-----------------------------------------------------------------------------------------------------------------------------------
14. OTHER ASSETS - NET OF
AMORTIZATION (ATTACH LIST) $ 10,967,208 $ 9,367,415 $ 9,296,814 $0
-----------------------------------------------------------------------------------------------------------------------------------
15. OTHER (ATTACH LIST) $138,370,015 $138,370,015 $138,370,015 $0
-----------------------------------------------------------------------------------------------------------------------------------
16. TOTAL ASSETS $587,428,618 $519,697,858 $519,918,866 $0
-----------------------------------------------------------------------------------------------------------------------------------
POSTPETITION LIABILITIES
-----------------------------------------------------------------------------------------------------------------------------------
17. ACCOUNTS PAYABLE $ 623,660 $ 829,360 $0
-----------------------------------------------------------------------------------------------------------------------------------
18. TAXES PAYABLE $ 0 $ 0 $0
-----------------------------------------------------------------------------------------------------------------------------------
19. NOTES PAYABLE $ 0 $ 0 $0
-----------------------------------------------------------------------------------------------------------------------------------
20. PROFESSIONAL FEES $ 853,068 $ 2,917,027 $0
-----------------------------------------------------------------------------------------------------------------------------------
21. SECURED DEBT $ 0 $ 0 $0
-----------------------------------------------------------------------------------------------------------------------------------
22. OTHER (ATTACH LIST) $ 2,696,314 $ 1,568,050 $0
-----------------------------------------------------------------------------------------------------------------------------------
23. TOTAL POSTPETITION
LIABILITIES $ 4,173,042 $ 5,314,437 $0
-----------------------------------------------------------------------------------------------------------------------------------
PREPETITION LIABILITIES
-----------------------------------------------------------------------------------------------------------------------------------
24. SECURED DEBT $466,119,468 $385,985,126 $385,064,739 $0
-----------------------------------------------------------------------------------------------------------------------------------
25. PRIORITY DEBT $ 29,661 $ 0 $ 0 $0
-----------------------------------------------------------------------------------------------------------------------------------
26. UNSECURED DEBT $ 22,580,547 $ 2,232,210 $ 2,232,210 $0
-----------------------------------------------------------------------------------------------------------------------------------
27. OTHER (ATTACH LIST) $ 0 $ 28,849,513 $ 28,849,513 $0
-----------------------------------------------------------------------------------------------------------------------------------
28. TOTAL PREPETITION LIABILITIES $488,729,676 $417,066,849 $416,146,462 $0
-----------------------------------------------------------------------------------------------------------------------------------
29. TOTAL LIABILITIES $488,729,676 $421,239,891 $421,460,899 $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 $519,697,858 $519,918,866 $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 July 2001 August 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 $ 74,167 $ 74,166 $0 $ 148,333
----------------------------------------------------------------------------------------------------------------------------------
10. SELLING & MARKETING $ 0 $ 0 $0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
11. GENERAL & ADMINISTRATIVE ($2,849,783) ($2,593,967) $0 ($5,443,750)
----------------------------------------------------------------------------------------------------------------------------------
12. RENT & LEASE $ 0 $ 0 $0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
13. OTHER (ATTACH LIST) $ 0 $ 0 $0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
14. TOTAL OPERATING EXPENSES ($2,775,616) ($2,519,801) $0 ($5,295,417)
----------------------------------------------------------------------------------------------------------------------------------
15. INCOME BEFORE NON-OPERATING
INCOME & EXPENSE $2,775,616 $2,519,801 $0 $5,295,417
----------------------------------------------------------------------------------------------------------------------------------
OTHER INCOME & EXPENSES
----------------------------------------------------------------------------------------------------------------------------------
16. NON-OPERATING INCOME (ATT. LIST) ($96,716) ($129,569) $0 ($226,285)
----------------------------------------------------------------------------------------------------------------------------------
17. NON-OPERATING EXPENSE (ATT. LIST) $ 0 $ 0 $0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
18. INTEREST EXPENSE $ 582,571 $ 616,610 $0 $1,199,181
----------------------------------------------------------------------------------------------------------------------------------
19. DEPRECIATION / DEPLETION $ 78,876 $ 79,222 $0 $ 158,098
----------------------------------------------------------------------------------------------------------------------------------
20. AMORTIZATION $ 76,984 $ 76,984 $0 $ 153,968
----------------------------------------------------------------------------------------------------------------------------------
21. OTHER (ATTACH LIST) $ 0 $ 0 $0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
22. NET OTHER INCOME & EXPENSES $ 641,715 $ 643,247 $0 $1,284,962
----------------------------------------------------------------------------------------------------------------------------------
REORGANIZATION EXPENSES
----------------------------------------------------------------------------------------------------------------------------------
23. PROFESSIONAL FEES $2,133,901 $1,876,554 $0 $4,010,455
----------------------------------------------------------------------------------------------------------------------------------
24. U.S. TRUSTEE FEES $ 0 $ 0 $0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
25. OTHER (ATTACH LIST) $ 0 $ 0 $0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
26. TOTAL REORGANIZATION EXPENSES $2,133,901 $1,876,554 $0 $4,010,455
----------------------------------------------------------------------------------------------------------------------------------
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 July 2001 August 2001 TOTAL
---------------------------------------------------------------------------------------------------------------------------------
1. CASH - BEGINNING OF MONTH $38,294,348 $38,432,411 $0 $38,294,348
---------------------------------------------------------------------------------------------------------------------------------
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) $25,606,100 $30,079,156 $0 $55,685,256
---------------------------------------------------------------------------------------------------------------------------------
9. TOTAL NON-OPERATING RECEIPTS $25,606,100 $30,079,156 $0 $55,685,256
---------------------------------------------------------------------------------------------------------------------------------
10. TOTAL RECEIPTS $25,606,100 $30,079,156 $0 $55,685,256
---------------------------------------------------------------------------------------------------------------------------------
11. TOTAL CASH AVAILABLE $63,900,448 $68,511,567 $0 $93,979,604
---------------------------------------------------------------------------------------------------------------------------------
OPERATING DISBURSEMENTS
---------------------------------------------------------------------------------------------------------------------------------
12. NET PAYROLL $ 2,964,538 $ 3,475,980 $0 $ 6,440,518
---------------------------------------------------------------------------------------------------------------------------------
13. PAYROLL TAXES PAID $ 1,186,216 $ 1,424,708 $0 $ 2,610,924
---------------------------------------------------------------------------------------------------------------------------------
14. SALES, USE & OTHER TAXES PAID $ 48,776 $ 0 $0 $ 48,776
---------------------------------------------------------------------------------------------------------------------------------
15. SECURED / RENTAL / LEASES $ 3,230,967 $ 2,716,524 $0 $ 5,947,491
---------------------------------------------------------------------------------------------------------------------------------
16. UTILITIES $ 55,465 $ 60,940 $0 $ 116,405
---------------------------------------------------------------------------------------------------------------------------------
17. INSURANCE $ 356,098 $ 783,601 $0 $ 1,139,699
---------------------------------------------------------------------------------------------------------------------------------
18. INVENTORY PURCHASES $ 0 $0 $ 0
---------------------------------------------------------------------------------------------------------------------------------
19. VEHICLE EXPENSES $ 0 $ 0 $0 $ 0
---------------------------------------------------------------------------------------------------------------------------------
20. TRAVEL $ 864,335 $ 759,265 $0 $ 1,623,600
---------------------------------------------------------------------------------------------------------------------------------
21. ENTERTAINMENT $ 0 $ 0 $0 $ 0
---------------------------------------------------------------------------------------------------------------------------------
22. REPAIRS & MAINTENANCE $ 1,786,912 $ 1,942,885 $0 $ 3,729,797
---------------------------------------------------------------------------------------------------------------------------------
23. SUPPLIES $ 0 $ 0 $0 $ 0
---------------------------------------------------------------------------------------------------------------------------------
24. ADVERTISING $ 170 $ 7,560 $0 $ 7,730
---------------------------------------------------------------------------------------------------------------------------------
25. OTHER (ATTACH LIST) $13,450,347 $10,396,214 $0 $23,846,561
---------------------------------------------------------------------------------------------------------------------------------
26. TOTAL OPERATING DISBURSEMENTS $23,943,824 $21,567,677 $0 $45,511,501
---------------------------------------------------------------------------------------------------------------------------------
REORGANIZATION EXPENSES
---------------------------------------------------------------------------------------------------------------------------------
27. PROFESSIONAL FEES $ 1,507,463 $ 576,824 $0 $ 2,084,287
---------------------------------------------------------------------------------------------------------------------------------
28. U.S. TRUSTEE FEES $ 16,750 $ 0 $0 $ 16,750
---------------------------------------------------------------------------------------------------------------------------------
29. OTHER (ATTACH LIST) $ 0 $ 0 $0 $ 0
---------------------------------------------------------------------------------------------------------------------------------
30. TOTAL REORGANIZATION EXPENSES $ 1,524,213 $ 576,824 $0 $ 2,101,037
---------------------------------------------------------------------------------------------------------------------------------
31. TOTAL DISBURSEMENTS $25,468,037 $22,144,501 $0 $47,612,538
---------------------------------------------------------------------------------------------------------------------------------
32. NET CASH FLOW $ 138,063 $ 7,934,655 $0 $ 8,072,718
---------------------------------------------------------------------------------------------------------------------------------
33. CASH - END OF MONTH $38,432,411 $46,367,066 $0 $46,367,066
---------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
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 July 2001 August 2001
------------------------------------------------------------------------------------------------------------------------------------
1. 0-30 $ 0 $ 0 $0
------------------------------------------------------------------------------------------------------------------------------------
2. 31-60 $ 0 $ 0 $0
------------------------------------------------------------------------------------------------------------------------------------
3. 61-90 $ 0 $ 0 $0
------------------------------------------------------------------------------------------------------------------------------------
4. 91+ $ 63,871 $ 63,261 $0
------------------------------------------------------------------------------------------------------------------------------------
5. TOTAL ACCOUNTS RECEIVABLE $0 $ 63,871 $ 63,261 $0
------------------------------------------------------------------------------------------------------------------------------------
6. AMOUNT CONSIDERED UNCOLLECTIBLE $12,085,378 $14,581,466 $0
------------------------------------------------------------------------------------------------------------------------------------
7. ACCOUNTS RECEIVABLE (NET) $0 ($12,021,507) ($14,518,205) $0
------------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------
AGING OF POSTPETITION TAXES AND PAYABLES MONTH: August 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 $172,752 $127,213 $26,433 $502,962 $829,360
------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------
STATUS OF POSTPETITION TAXES MONTH: August 2001
------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
BEGINNING AMOUNT ENDING
TAX WITHHELD AND/ AMOUNT TAX
FEDERAL LIABILITY* OR ACCRUED PAID LIABILITY
------------------------------------------------------------------------------------------------------------------------------------
1. WITHHOLDING** $0 $99,868 $99,868 $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 $99,868 $99,868 $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 $99,868 $99,868 $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: August 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 $ 207,758 $300,000 $32,702 $ 776,378
-----------------------------------------------------------------------------------------------------------------------------------
2. ADD: TOTAL DEPOSITS NOT CREDITED $ 0 $ 0 $ 0 $ 0
-----------------------------------------------------------------------------------------------------------------------------------
3. SUBTRACT: OUTSTANDING CHECKS $1,287,110 $ 0 $ 0 $1,499,112
-----------------------------------------------------------------------------------------------------------------------------------
4. OTHER RECONCILING ITEMS ($2,769) $ 0 $ 0 ($2,769)
-----------------------------------------------------------------------------------------------------------------------------------
5. MONTH END BALANCE PER BOOKS ($1,082,121) $300,000 $32,702 ($749,419)
-----------------------------------------------------------------------------------------------------------------------------------
6. NUMBER OF LAST CHECK WRITTEN No checks 36290 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 8/31/2001 Overnight Sweep $46,486,454 $46,486,454
-----------------------------------------------------------------------------------------------------------------------------------
9. N/A
-----------------------------------------------------------------------------------------------------------------------------------
10. N/A
-----------------------------------------------------------------------------------------------------------------------------------
11. TOTAL INVESTMENTS $47,086,454 $47,091,569
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------
CASH
-----------------------------------------------------------------------------------------------------------------------------------
12. CURRENCY ON HAND $ 1,000
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
13. TOTAL CASH - END OF MONTH $46,367,066
-----------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
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: August 2001
---------------------------------------------- -----------------------------------------------------------------
BANK RECONCILIATIONS
Account #4 Account #5 Account #6
----------------------------------------------------------------------------------------------------------------------------------
A. BANK: Bank One Bank One Bank One
---------------------------------------------------------------------------------------------------------------
B. ACCOUNT NUMBER: 1570695922 00129949/931995845 1586268961 TOTAL
---------------------------------------------------------------------------------------------------------------
C. PURPOSE (TYPE): Payroll Health Insurance Flex Spending
----------------------------------------------------------------------------------------------------------------------------------
1. BALANCE PER BANK STATEMENT $ 0 $212,002 $23,916 $235,918
----------------------------------------------------------------------------------------------------------------------------------
2. ADD: TOTAL DEPOSITS NOT CREDITED $ 0 $ 0 $ 0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
3. SUBTRACT: OUTSTANDING CHECKS $ 0 $212,002 $ 0 $212,002
----------------------------------------------------------------------------------------------------------------------------------
4. OTHER RECONCILING ITEMS $ 0 $ 0 $ 0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
5. MONTH END BALANCE PER BOOKS $ 0 $ 0 $23,916 $ 23,916
----------------------------------------------------------------------------------------------------------------------------------
6. NUMBER OF LAST CHECK WRITTEN 85230 152554 11084
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------
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 $23,916
----------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
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: August 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: August 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 $ 121,665
-------------------------------------------------------------------------------------------------
2. Jim Craig Salary $16,667 $ 366,668
-------------------------------------------------------------------------------------------------
3. Janie Garrard Salary $ 0 $ 2,625
-------------------------------------------------------------------------------------------------
4. Drew Keith Salary $16,250 $ 363,962
-------------------------------------------------------------------------------------------------
5. Lena Baker Salary $ 0 $ 7,500
-------------------------------------------------------------------------------------------------
6. Jim Reeves Salary $33,333 $ 499,995
-------------------------------------------------------------------------------------------------
7. John Turnipseed Salary $ 0 $ 41,668
-------------------------------------------------------------------------------------------------
8. TOTAL PAYMENTS
TO INSIDERS $74,166 $1,404,083
-------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
PROFESSIONALS
-----------------------------------------------------------------------------------------------------------------------------------
DATE OF COURT TOTAL
ORDER AUTHORIZING AMOUNT AMOUNT TOTAL PAID INCURRED
NAME PAYMENT APPROVED PAID TO DATE & UNPAID *
-----------------------------------------------------------------------------------------------------------------------------------
1. Lain Faulkner $ 70,015 $ 941,175 $ 107,256
-----------------------------------------------------------------------------------------------------------------------------------
2. Haynes and Boone $ 0 $ 3,187,218 $ 818,606
-----------------------------------------------------------------------------------------------------------------------------------
3. The Seabury Group $ 0 $ 1,950,000 $ 0
-----------------------------------------------------------------------------------------------------------------------------------
4. Forshey & Prostock $ 0 $ 365,670 $ 0
-----------------------------------------------------------------------------------------------------------------------------------
5. PriceWaterhouseCoopers $ 0 $ 386,015 $ 0
-----------------------------------------------------------------------------------------------------------------------------------
6. Jay Alix and Associates $ 6,650 $ 829,493 $ 159,804
-----------------------------------------------------------------------------------------------------------------------------------
7. Andrews & Kurth $ 0 $ 995,467 $ 0
-----------------------------------------------------------------------------------------------------------------------------------
8. Jenkins & Gilchrist $ 0 $ 47,474 $ 0
-----------------------------------------------------------------------------------------------------------------------------------
9. Ford and Harrison $ 2,211 $ 223,529 $ 3,048
-----------------------------------------------------------------------------------------------------------------------------------
10. Grant Thornton $ 70,000 $ 335,371 $ 12,360
-----------------------------------------------------------------------------------------------------------------------------------
11. Verner Liipfert $ 53,739 $ 672,751 $ 90,018
-----------------------------------------------------------------------------------------------------------------------------------
12. The Ivy Group $ 0 $ 81,900 $ 0
-----------------------------------------------------------------------------------------------------------------------------------
13. Wells Fargo Bank - reimburse prof fees $ 0 $ 1,036,744 $1,725,935
-----------------------------------------------------------------------------------------------------------------------------------
14. TOTAL PAYMENTS
TO PROFESSIONALS $0 $202,615 $11,052,807 $2,917,027
-----------------------------------------------------------------------------------------------------------------------------------
* 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: August 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 $0.9 million 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 6/1/2001 - 5/31/2002 781,160 Quarterly
----------------------------------------------------------------------------------------------------------------------------------
Workers Comp Aviation Agency 01/01/2001 - 12/31/2001 95,000 Monthly
----------------------------------------------------------------------------------------------------------------------------------
Inland Marine/Property CGU 4/1/2001 - 3/31/2002 9,902 Monthly
----------------------------------------------------------------------------------------------------------------------------------
Professional Liab Aviation Agency 6/1/2001 - 5/31/2002 25,291 Annual
----------------------------------------------------------------------------------------------------------------------------------
135 Aircraft Insurance Aviation Agency 10/1/2000 - 9/30/2001 100,266 Quarterly
----------------------------------------------------------------------------------------------------------------------------------
Primary Auto Aviation Agency 4/1/2001 - 3/31/2002 10,827 Monthly
----------------------------------------------------------------------------------------------------------------------------------
Excess Auto Aviation Agency 4/1/2001 - 3/31/2002 29,870 Annual
----------------------------------------------------------------------------------------------------------------------------------
Aggregate Claims Liab Reliastar 5/1/2001 - 4/30/2002 15,000 Annually
----------------------------------------------------------------------------------------------------------------------------------
Claims Admin Runout CIGNA 5/1/2001 - 4/30/2002 125,779 One time
----------------------------------------------------------------------------------------------------------------------------------
Pilot Long Term Disabl UNUM 5/1/2001 - 4/30/2002 7,975 Monthly
----------------------------------------------------------------------------------------------------------------------------------
Stop Loss Reliastar 5/1/2001 - 4/30/2002 31,635 Monthly
----------------------------------------------------------------------------------------------------------------------------------
Case Management Reliastar 5/1/2001 - 4/30/2002 1,329 Monthly
----------------------------------------------------------------------------------------------------------------------------------
Claims Administration Allied Benefit System 5/1/2001 - 4/30/2002 25,052 Monthly
----------------------------------------------------------------------------------------------------------------------------------
Life/AD&D CIGNA 5/1/2001 - 4/30/2002 11,732 Monthly
----------------------------------------------------------------------------------------------------------------------------------
EAP Behavioral Health Partners 5/1/2001 - 4/30/2002 2,941 Monthly
----------------------------------------------------------------------------------------------------------------------------------
Section 125 Admin Taxsaver 5/1/2001 - 4/30/2002 1,179 Monthly
----------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
-----------------------------------------
CASE NAME: Kitty Hawk, Inc. FOOTNOTES SUPPLEMENT
-----------------------------------------
-----------------------------------------
CASE NUMBER: 400-42141-BJH ACCRUAL BASIS
-----------------------------------------
MONTH: August 2001
------------------------------
------------------------------------------------------------------------------------------------------------------------
ACCRUAL BASIS
FORM NUMBER LINE 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.
------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
CASE NAME: Kitty Hawk, Inc.
CASE NUMBER: 400-42141
Details of Other Items
ACCRUAL BASIS-1 August 2001
8. OTHER (ATTACH LIST) $ 336,963,075 Reported
-----------------------
Intercompany Receivables 334,771,545
Escrow TJR 400,000
A/R Other 438,235
A/R Employees (317)
A/R 401(k) Loan (551)
A/R Reconciling item (12,851)
Deferred Taxes 776,266
Deposits - Other 174,749
Deposits - Retainers 415,999
-----------------------
336,963,075 Detail
-----------------------
- Difference
14. OTHER ASSETS - NET OF
AMORTIZATION (ATTACH LIST) 9,296,814 Reported
-----------------------
Loan organizaiton costs 841,824
Bond offering costs 7,151,860
Goodwill - KH Cargo 1,303,130
-----------------------
9,296,814 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) $ 1,568,050 Reported
-----------------------
Accrued expenses 143,653
Accrued interest 384,285
Accrued health savings 638,172
A/P Aging reconciling item (5,386)
A/P clearing 81
Accrued 401(k) 7,245
Accrued Salaries/Wages 400,000
-----------------------
1,568,050 Detail
-----------------------
- Difference
27. OTHER (ATTACH LIST) $ 28,849,513 Reported
-----------------------
Deferred Taxes 31,006,505
Accrued Taxes payable (17,685,739)
Interest payable 15,528,747
-----------------------
28,849,513 Detail
-----------------------
- Difference
CASE NAME: Kitty Hawk, Inc.
CASE NUMBER: 400-42141
Details of Other Items
ACCRUAL BASIS-2
16. NON-OPERATING INCOME (ATT. LIST) (129,569)Reported
-----------------------
Interest Income (105,107)
Other Misc Income (24,462)
-----------------------
(129,569)Detail
- Difference
ACCRUAL BASIS-3
8. OTHER (ATTACH LIST) 30,079,156 Reported
-----------------------
Transfers from Charters 1,712,636
Transfers from Cargo 7,786,780
Transfers from Aircargo 15,897,836
Transfers from International 37,000
Cash deposits - non-lockbox 4,072,753
Interest income 101,440
Misc Deposits 480,128
NSF Checks (9,417)
-----------------------
30,079,156 Detail
-----------------------
- Difference
-----------------------
25. OTHER (ATTACH LIST) 10,396,214 Reported
-----------------------
Inc. 401(k) 416,489
Employee Expenses 40,138
Bank charges 2,515
Refunds/Claims 13,797
Fuel 3,573,793
Ground Handling 2,298,474
Shipping 46,542
Ondemand Charter costs 29,017
135 Airline costs 4,995
Building maintenance/security 66,770
Contract Labor 378,827
Trucking 466,629
Customs/Parking/Landing 568,525
Containers 86,834
Simulator/Communication/Other Training 236,785
Misc (3,443)
Asset purchase 12,393
Charts/Manuals 81,476
Taxes 136,042
Office 92,044
Deposits 151,048
Subcharter Aircraft 1,696,524
-----------------------
10,396,214 Detail
- Difference
EX-99.2
4
dex992.txt
MONTHLY OPERATING REPORT FOR KITTY HAWK AIRCARGO
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: AUGUST 31, 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 9/20/2001
------------------------------------------- -------------------------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
/s/ Kevin K. Craig CONTROLLER, KITTY HAWK INC.
------------------------------------------- -------------------------------
ORIGINAL SIGNATURE OF PREPARER TITLE
KEVIN K. CRAIG 9/20/2001
------------------------------------------- -------------------------------
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
--------------------------------------------
--------------------------------------------
COMPARATIVE BALANCE SHEET
----------------------------------------------------------------------------------------------------------------------------------
SCHEDULE MONTH MONTH MONTH
------------------------------------------------------------
ASSETS AMOUNT JULY, 2001 AUGUST, 2001
----------------------------------------------------------------------------------------------------------------------------------
1. UNRESTRICTED CASH $ 16,904 $ 20,702 $ 20,602 $0
----------------------------------------------------------------------------------------------------------------------------------
2. RESTRICTED CASH $ 0 $ 0 $ 0 $0
----------------------------------------------------------------------------------------------------------------------------------
3. TOTAL CASH $ 16,904 $ 20,702 $ 20,602 $0
----------------------------------------------------------------------------------------------------------------------------------
4. ACCOUNTS RECEIVABLE (NET) $ 29,303,045 $ 14,901,762 $ 10,385,103 $0
----------------------------------------------------------------------------------------------------------------------------------
5. INVENTORY $ 1,508,508 $ 2,038,849 $ 2,024,478 $0
----------------------------------------------------------------------------------------------------------------------------------
6. NOTES RECEIVABLE $0 $ 0 $ 0 $0
----------------------------------------------------------------------------------------------------------------------------------
7. PREPAID EXPENSES $ 2,294,717 $ 10,247,634 $ 6,617,091 $0
----------------------------------------------------------------------------------------------------------------------------------
8. OTHER (ATTACH LIST) $111,256,463 ($23,920,014) ($15,950,918) $0
----------------------------------------------------------------------------------------------------------------------------------
9. TOTAL CURRENT ASSETS $144,379,636 $ 3,288,933 $3,096,356 $0
----------------------------------------------------------------------------------------------------------------------------------
10. PROPERTY, PLANT & EQUIPMENT $166,772,560 $202,261,138 $135,178,815 $0
----------------------------------------------------------------------------------------------------------------------------------
11. LESS: ACCUMULATED
DEPRECIATION / DEPLETION $ 0 $ 62,349,337 $ 64,206,818 $0
----------------------------------------------------------------------------------------------------------------------------------
12. NET PROPERTY, PLANT &
EQUIPMENT $166,772,560 $139,911,801 $ 70,971,997 $0
----------------------------------------------------------------------------------------------------------------------------------
13. DUE FROM INSIDERS
----------------------------------------------------------------------------------------------------------------------------------
14. OTHER ASSETS - NET OF
AMORTIZATION (ATTACH LIST) $ 0 $ 2,320,685 $ 2,320,685 $0
----------------------------------------------------------------------------------------------------------------------------------
15. OTHER (ATTACH LIST) $ 0
----------------------------------------------------------------------------------------------------------------------------------
16. TOTAL ASSETS $311,152,196 $145,521,419 $ 76,389,038 $0
----------------------------------------------------------------------------------------------------------------------------------
POSTPETITION LIABILITIES
----------------------------------------------------------------------------------------------------------------------------------
17. ACCOUNTS PAYABLE $ 1,929,588 $ 1,056,048 $0
----------------------------------------------------------------------------------------------------------------------------------
18. TAXES PAYABLE $ 26,000 $ 28,000 $0
----------------------------------------------------------------------------------------------------------------------------------
19. NOTES PAYABLE $ 0 $ 0 $0
----------------------------------------------------------------------------------------------------------------------------------
20. PROFESSIONAL FEES $ 0 $ 0 $0
----------------------------------------------------------------------------------------------------------------------------------
21. SECURED DEBT $ 7,324,291 $ 7,178,460 $0
----------------------------------------------------------------------------------------------------------------------------------
22. OTHER (ATTACH LIST) $ 5,434,639 ($24,801,604) $0
----------------------------------------------------------------------------------------------------------------------------------
23. TOTAL POSTPETITION
LIABILITIES $ 14,714,518 ($16,539,096) $0
----------------------------------------------------------------------------------------------------------------------------------
PREPETITION LIABILITIES
---------------------------------------------------------------------------------------------------------------------------------
24. SECURED DEBT $ 22,600,000 $ 22,600,000 $0
----------------------------------------------------------------------------------------------------------------------------------
25. PRIORITY DEBT $ 2,177,962 $ 0 $ 0 $0
----------------------------------------------------------------------------------------------------------------------------------
26. UNSECURED DEBT $184,252,878 $ 29,944,591 $ 29,944,591 $0
----------------------------------------------------------------------------------------------------------------------------------
27. OTHER (ATTACH LIST) $ 0 $ 19,797,395 $ 19,782,895 $0
----------------------------------------------------------------------------------------------------------------------------------
28. TOTAL PREPETITION LIABILITIES $186,430,840 $ 72,341,986 $ 72,327,486 $0
----------------------------------------------------------------------------------------------------------------------------------
29. TOTAL LIABILITIES $186,430,840 $ 87,056,504 $ 55,788,390 $0
----------------------------------------------------------------------------------------------------------------------------------
EQUITY
----------------------------------------------------------------------------------------------------------------------------------
30. PREPETITION OWNERS' EQUITY $ 69,645,449 $ 69,645,449 $0
----------------------------------------------------------------------------------------------------------------------------------
31. POSTPETITION CUMULATIVE
PROFIT OR (LOSS) ($11,180,534) ($49,044,801) $0
----------------------------------------------------------------------------------------------------------------------------------
32. DIRECT CHARGES TO EQUITY
(ATTACH EXPLANATION) $ 0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
33. TOTAL EQUITY $ 0 $ 58,464,915 $ 20,600,648 $0
----------------------------------------------------------------------------------------------------------------------------------
34. TOTAL LIABILITIES &
OWNERS' EQUITY $186,430,840 $145,521,419 $ 76,389,038 $0
----------------------------------------------------------------------------------------------------------------------------------
$ 0 $ 0 $0
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Monthly Operating Report
--------------------------------------
CASE NAME: KITTY HAWK AIRCARGO, INC. ACCRUAL BASIS-2
--------------------------------------
--------------------------------------
CASE NUMBER: 400-42142-BJH-11 02/13/95, RWD, 2/96
--------------------------------------
------------------------
INCOME STATEMENT
--------------------------------------------------------------------------------------------------------------------------------
MONTH MONTH MONTH QUARTER
--------------------------------------------------------
REVENUES JULY, 2001 AUGUST, 2001 TOTAL
--------------------------------------------------------------------------------------------------------------------------------
1. GROSS REVENUES $ 9,698,214 $ 9,409,193 $19,107,407
--------------------------------------------------------------------------------------------------------------------------------
2. LESS: RETURNS & DISCOUNTS $ 0 $ 0 $0
--------------------------------------------------------------------------------------------------------------------------------
3. NET REVENUE $ 9,698,214 $ 9,409,193 $0 $19,107,407
--------------------------------------------------------------------------------------------------------------------------------
COST OF GOODS SOLD
--------------------------------------------------------------------------------------------------------------------------------
4. MATERIAL $ 0 $ 0 $0 $ 0
--------------------------------------------------------------------------------------------------------------------------------
5. TOTAL CASH $ 0 $ 0 $0 $ 0
--------------------------------------------------------------------------------------------------------------------------------
6. DIRECT OVERHEAD $ 0 $ 0 $0 $ 0
--------------------------------------------------------------------------------------------------------------------------------
7. TOTAL COST OF GOODS SOLD $ 0 $ 0 $0 $ 0
--------------------------------------------------------------------------------------------------------------------------------
8. GROSS PROFIT $ 9,698,214 $ 9,409,193 $0 $19,107,407
--------------------------------------------------------------------------------------------------------------------------------
OPERATING EXPENSES
--------------------------------------------------------------------------------------------------------------------------------
9. OFFICER / INSIDER COMPENSATION $ 29,166 $ 29,166 $ 58,332
--------------------------------------------------------------------------------------------------------------------------------
10. SELLING & MARKETING $ 0 $ 0 $ 0
--------------------------------------------------------------------------------------------------------------------------------
11. GENERAL & ADMINISTRATIVE $ 911,920 $ 1,050,849 $ 1,962,769
--------------------------------------------------------------------------------------------------------------------------------
12. RENT & LEASE $ 2,054,140 $ 2,017,147 $ 4,071,287
--------------------------------------------------------------------------------------------------------------------------------
13. OTHER (ATTACH LIST) $10,267,185 $71,628,972 $81,896,157
--------------------------------------------------------------------------------------------------------------------------------
14. TOTAL OPERATING EXPENSES $13,262,411 $74,726,134 $0 $87,988,545
--------------------------------------------------------------------------------------------------------------------------------
15. INCOME BEFORE NON-OPERATING
INCOME & EXPENSE ($3,564,197) ($65,316,941) $0 ($68,881,138)
--------------------------------------------------------------------------------------------------------------------------------
OTHER INCOME & EXPENSES
--------------------------------------------------------------------------------------------------------------------------------
16. NON-OPERATING INCOME (ATT. LIST) ($1,557) ($4,424) ($5,981)
--------------------------------------------------------------------------------------------------------------------------------
17. NON-OPERATING EXPENSE (ATT. LIST) $ 0 $ 0 $ 0
--------------------------------------------------------------------------------------------------------------------------------
18. INTEREST EXPENSE $ 246,770 $ 236,105 $ 482,875
--------------------------------------------------------------------------------------------------------------------------------
19. DEPRECIATION / DEPLETION $ 95,045 $ 95,966 $ 191,011
--------------------------------------------------------------------------------------------------------------------------------
20. AMORTIZATION $ 0 $ 0 $0
--------------------------------------------------------------------------------------------------------------------------------
21. OTHER (ATTACH LIST) ($3,269,653) ($2,537,475) ($5,807,128)
--------------------------------------------------------------------------------------------------------------------------------
22. NET OTHER INCOME & EXPENSES ($2,929,395) ($2,209,828) $0 ($5,139,223)
--------------------------------------------------------------------------------------------------------------------------------
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 $ 0
--------------------------------------------------------------------------------------------------------------------------------
27. INCOME TAX ($253,921) ($25,242,846) ($25,496,767)
--------------------------------------------------------------------------------------------------------------------------------
28. NET PROFIT (LOSS) ($380,881) ($37,864,267) $0 ($38,245,148)
--------------------------------------------------------------------------------------------------------------------------------
$ 0 $ 0 $0
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Monthly Operating Report
-----------------------------------------
CASE NAME: KITTY HAWK AIRCARGO, INC. ACCRUAL BASIS-3
-----------------------------------------
-----------------------------------------
CASE NUMBER: 400-42142-BJH-11 02/13/95, RWD, 2/96
-----------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH QUARTER
------------------------------------------------------------
DISBURSEMENTS JULY, 2001 AUGUST, 2001 TOTAL
----------------------------------------------------------------------------------------------------------------------------------
1. CASH - BEGINNING OF MONTH $ 20,721 $ 20,702 $20,602 $ 20,721
----------------------------------------------------------------------------------------------------------------------------------
RECEIPTS FROM OPERATIONS
----------------------------------------------------------------------------------------------------------------------------------
2. CASH SALES $ 0 $ 0 $ 0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
COLLECTION OF ACCOUNTS RECEIVABLE
----------------------------------------------------------------------------------------------------------------------------------
3. PREPETITION $ 0 $ 0 $ 0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
4. TOTAL CASH $10,804,697 $15,897,736 $ 0 $26,702,433
----------------------------------------------------------------------------------------------------------------------------------
5. TOTAL OPERATING RECEIPTS $10,804,697 $15,897,736 $ 0 $26,702,433
----------------------------------------------------------------------------------------------------------------------------------
NON - OPERATING RECEIPTS
----------------------------------------------------------------------------------------------------------------------------------
6. LOANS & ADVANCES (ATTACH LIST) $ 0 $ 0 $ 0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
7. SALE OF ASSETS $ 0 $ 0 $ 0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
8. OTHER (ATTACH LIST) ($10,804,716) ($15,897,836) $ 0 ($26,702,552)
----------------------------------------------------------------------------------------------------------------------------------
9. TOTAL NON-OPERATING RECEIPTS ($10,804,716) ($15,897,836) $ 0 ($26,702,552)
----------------------------------------------------------------------------------------------------------------------------------
10. TOTAL RECEIPTS ($19) ($100) $ 0 ($119)
----------------------------------------------------------------------------------------------------------------------------------
11. TOTAL CASH AVAILABLE $ 20,702 $ 20,602 $20,602 $ 20,602
----------------------------------------------------------------------------------------------------------------------------------
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 ($19) ($100) $ 0 ($119)
----------------------------------------------------------------------------------------------------------------------------------
33. CASH - END OF MONTH $ 20,702 $ 20,602 $20,602 $ 20,602
----------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
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 JULY, 2001 AUGUST, 2001
-----------------------------------------------------------------------------------------------------------------------------------
1. 0-30 $27,808,237 $12,039,698 $10,275,075 $0
-----------------------------------------------------------------------------------------------------------------------------------
2. 31-60 $ 648,873 ($67,909) ($18,798) $0
-----------------------------------------------------------------------------------------------------------------------------------
3. 61-90 $ 923,454 ($49,158) ($61,934) $0
-----------------------------------------------------------------------------------------------------------------------------------
4. 91+ ($77,519) $ 2,538,179 $ 1,484,453 $0
-----------------------------------------------------------------------------------------------------------------------------------
5. TOTAL ACCOUNTS RECEIVABLE $29,303,045 $14,460,810 $11,678,796 $0
-----------------------------------------------------------------------------------------------------------------------------------
6. TOTAL CASH
-----------------------------------------------------------------------------------------------------------------------------------
7. ACCOUNTS RECEIVABLE (NET) $29,303,045 $14,460,810 $11,678,796 $0
-----------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------
AGING OF POSTPETITION TAXES AND PAYABLES MONTH: AUGUST, 2001
---------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
0-30 31-60 61-90 91+
TAXES PAYABLE DAYS DAYS DAYS DAYS TOTAL
-----------------------------------------------------------------------------------------------------------------------------------
1. FEDERAL $ 0 $ 0 $ 0 $ 0 $ 0
-----------------------------------------------------------------------------------------------------------------------------------
2. STATE $ 28,000 $ 0 $ 0 $ 0 $ 28,000
-----------------------------------------------------------------------------------------------------------------------------------
3. LOCAL $ 0 $ 0 $ 0 $ 0
-----------------------------------------------------------------------------------------------------------------------------------
4. OTHER (ATTACH LIST) $ 0 $ 0 $ 0 $ 0
-----------------------------------------------------------------------------------------------------------------------------------
5. TOTAL TAXES PAYABLE $ 28,000 $ 0 $ 0 $ 0 $ 28,000
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
6. ACCOUNTS PAYABLE $1,030,752 ($53,490) ($92,785) $171,571 $1,056,048
-----------------------------------------------------------------------------------------------------------------------------------
$ 0
---------------------------------------------------------
STATUS OF POSTPETITION TAXES MONTH: AUGUST, 2001
-------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
BEGINNING AMOUNT ENDING
TAX WITHHELD AND/ AMOUNT TAX
FEDERAL LIABILITY* 0R ACCRUED PAID LIABILITY
-----------------------------------------------------------------------------------------------------------------------------------
1. WITHHOLDING** $ 0 $1,169,133 $1,169,133 $ 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 $1,169,133 $1,169,133 $ 0
-----------------------------------------------------------------------------------------------------------------------------------
STATE AND LOCAL
-----------------------------------------------------------------------------------------------------------------------------------
8. WITHHOLDING $ 0 $ 0
-----------------------------------------------------------------------------------------------------------------------------------
9. SALES $ 0 $ 0
-----------------------------------------------------------------------------------------------------------------------------------
10. EXCISE $ 26,000 $ 28,000 $ 26,000 $28,000
-----------------------------------------------------------------------------------------------------------------------------------
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 $ 26,000 $ 28,000 $ 26,000 $28,000
-----------------------------------------------------------------------------------------------------------------------------------
16. TOTAL TAXES $ 26,000 $1,197,133 $1,195,133 $28,000
-----------------------------------------------------------------------------------------------------------------------------------
* 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.
TOTAL CASH MONTH: AUGUST, 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 $20,602
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
13. TOTAL CASH - END OF MONTH $20,602
------------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
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: AUGUST, 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 COMTOTAL
CASH (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 $15,833 $344,583
--------------------------------------------------------------------------------
2. Donny Scott Salary $13,333 $278,333
--------------------------------------------------------------------------------
3. Susan Hawley Salary $ 0 $ 41,667
--------------------------------------------------------------------------------
4.
--------------------------------------------------------------------------------
5.
--------------------------------------------------------------------------------
6. TOTAL PAYMENTS
TO INSIDERS $29,166 $664,583
--------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
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. CORPORATE TRUST/TRANSAMERICA $206,590 $ 0 $413,180
----------------------------------------------------------------------------------------------------------------------
3. PROVIDENT $125,000 $125,000 $ 0
----------------------------------------------------------------------------------------------------------------------
4. COAST BUSINESS $262,000 $262,000 $ 0
----------------------------------------------------------------------------------------------------------------------
5. WELLS FARGO $ 0 $ 0 $ 0
----------------------------------------------------------------------------------------------------------------------
6. TOTAL $996,590 $790,000 $413,180
----------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
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: AUGUST, 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. TOTAL CASH 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) 1: $489,000 Loss on Sale of Aircraft N6812 & N6821 for scrap metal value;
$618,839 Loss on Sale of Engines- see ALI case #400-42148-BJH-11
--------------------------------------------------------------------------------
b) 4: Payments made to Flight Safety Boeing Training, in accordance with BR
Court Order
--------------------------------------------------------------------------------
---------------------------------------------------
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. FOOTNOTES SUPPLEMENT
-------------------------------------------
-------------------------------------------
CASE NUMBER: 400-42142-BJH-11 ACCRUAL BASIS
-------------------------------------------
MONTH: AUGUST, 2001
-------------------------
-----------------------------------------------------------------------------------------------------------------------------
ACCRUAL BASIS FORM NUMBER LINE NUMBER FOOTNOTE / EXPLANATION
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
2 13 SFAS 121 Writedown of $61,041,310 of Assets, due to USPS W-Net cancellation
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
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.
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
6 Notes/Leases Republic aircraft N901RF & N902RF were returned to lessor 2/28/01, terminating
-----------------------------------------------------------------------------------------------------------------------------
their lease commitments. TransAmerica aircraft N750US & N751US were
-----------------------------------------------------------------------------------------------------------------------------
erroneously ommitted from previous filings. TransAmerica a/c to be returned
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
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.
-----------------------------------------------------------------------------------------------------------------------------
CASE NAME: KITTY HAWK AIRCARGO, INC.
CASE NUMBER: 400-42142-BJH-11
Details of Other Items AUGUST, 2001
ACCRUAL BASIS-1
8. OTHER (ATTACH LIST) $ (15,950,918)Reported
----------------------------------
Intercompany Receivables (25,405,211)
Deposits - State Street Bank (TA Air) 3,534,695
Deposits - Landing & Parking 54,000
Deposits - Ventura Aerospace 65,125
Deposits - Rent 113,643
Deposits - Misc 642,125
A/C Held for Resale 4,951,972
Intangible - Mather 92,733
----------------------------------
TOTAL CASH (15,950,918)Detail
----------------------------------
- Difference
14. OTHER (ATTACH LIST) $ 2,320,685 Reported
----------------------------------
Deposits - Aircraft Leases 2,320,685
Intangible - ATAZ STC 0
----------------------------------
2,320,685 Detail
----------------------------------
- Difference
22. OTHER (ATTACH LIST) $ (24,801,604)Reported
----------------------------------
Accrued A/P 3,418,260
Deposit held for ATAZ sale 0
Accrued Salaries & Wages 1,004,667
Accrued 401K & Misc PR Deductions 133,903
Accrued PR Taxes (FICA) 73,631
Accrued Fuel Exp 4,038,914
Accrued Interest 347,978
Accrued Maintenance Reserves (1,120,855)
Accrued Fed Income Tax (Post) (32,698,102)
----------------------------------
(24,801,604)Detail
----------------------------------
- Difference
27. OTHER (ATTACH LIST) $ 19,782,895 Reported
----------------------------------
Accrued A/P 5,232,302
Accrued Maintenance Reserves 10,267,512
Accrued Fed Income Tax (Pre) 3,332,363
Accrued Taxes - Other 446
FINOVA Equip Accrued 307,272
Pegasus Lease Incentive 643,000
----------------------------------
19,782,895 Detail
----------------------------------
- Difference
CASE NAME: KITTY HAWK AIRCARGO, INC.
CASE NUMBER: 400-42142-BJH-11
Details of Other Items AUGUST, 2001
ACCRUAL BASIS-2
13. OTHER (ATTACH LIST) $71,628,972 Reported
----------------------------------
Aircraft Expense 2,526,955
Maintenance 3,009,719
Fuel 150,929
Ops Wages 2,721,449
Ops Wages-Grnd 287,231
Ground Handling 531,870
Other Operating Exp 1,359,509
SFAS 121 Write-down of Assets, W-Net Cancel 61,041,310
----------------------------------
71,628,972 Detail
----------------------------------
- Difference
16 NON OPERATING INCOME (ATT. LIST) ($4,424)Reported
----------------------------------
Non-Op Income (4,424)Detail
----------------------------------
- Difference
17 NON OPERATING EXPENSE (ATT. LIST) $ 0 Reported
----------------------------------
Non-Op Expense - Detail
----------------------------------
- Difference
21 OTHER (ATTACH LIST) ($2,537,475)Reported
----------------------------------
(Gain)/Loss on Sale of Assets 1,107,838
Credit for Allocation of A/C Costs to KH I/C (3,645,313)
----------------------------------
(2,537,475)Detail
----------------------------------
- Difference
ACCRUAL BASIS-3
8. OTHER (ATTACH LIST) (15,897,836)Reported
----------------------------------
Transfer to Inc - all money sweeps (15,897,836)Detail
----------------------------------
to KH Inc. Case #400-42141 - Difference
----------------------------------
EX-99.3
5
dex993.txt
MONTHLY OPERATING REPORT FOR KITTY HAWK CHARTERS
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: AUGUST 31, 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 9/20/2001
----------------------------------------- -------------------------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
/s/ Jessica L. Wilson Chief Accounting Officer
----------------------------------------- -------------------------------
ORIGINAL SIGNATURE OF PREPARER TITLE
Jessica L. Wilson 9/20/2001
----------------------------------------- -------------------------------
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 July 2001 August 2001
---------------------------------------------------------------------------------------------------------------------------------
1. UNRESTRICTED CASH $ 15,476 $ 48,442 $ 37,064 $0
---------------------------------------------------------------------------------------------------------------------------------
2. RESTRICTED CASH $ 0 $0
---------------------------------------------------------------------------------------------------------------------------------
3. TOTAL CASH $ 15,476 $ 48,442 $ 37,064 $0
---------------------------------------------------------------------------------------------------------------------------------
4. ACCOUNTS RECEIVABLE (NET) $13,356,789 $ 2,863,311 $ 2,723,013 $0
---------------------------------------------------------------------------------------------------------------------------------
5. INVENTORY $ 4,485,303 $ 4,427,708 $0
---------------------------------------------------------------------------------------------------------------------------------
6. NOTES RECEIVABLE $ 0 $ 0 $0
---------------------------------------------------------------------------------------------------------------------------------
7. PREPAID EXPENSES $ 123,241 $ 103,362 $0
---------------------------------------------------------------------------------------------------------------------------------
8. OTHER (ATTACH LIST) $37,290,970 $50,368,094 $53,614,761 $0
---------------------------------------------------------------------------------------------------------------------------------
9. TOTAL CURRENT ASSETS $50,663,235 $57,888,391 $60,905,908 $0
---------------------------------------------------------------------------------------------------------------------------------
10. PROPERTY, PLANT & EQUIPMENT $17,083,867 $16,872,862 $13,409,703 $0
---------------------------------------------------------------------------------------------------------------------------------
11. LESS: ACCUMULATED
DEPRECIATION / DEPLETION $ 8,342,086 $ 6,806,441 $0
---------------------------------------------------------------------------------------------------------------------------------
12. NET PROPERTY, PLANT &
EQUIPMENT $17,083,867 $ 8,530,776 $ 6,603,262 $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 $66,419,167 $67,509,170 $0
---------------------------------------------------------------------------------------------------------------------------------
POSTPETITION LIABILITIES
---------------------------------------------------------------------------------------------------------------------------------
17. ACCOUNTS PAYABLE $ 369,766 $ 380,639 $0
---------------------------------------------------------------------------------------------------------------------------------
18. TAXES PAYABLE ($888,265) ($447,135) $0
---------------------------------------------------------------------------------------------------------------------------------
19. NOTES PAYABLE $ 0 $ 0 $0
---------------------------------------------------------------------------------------------------------------------------------
20. PROFESSIONAL FEES $ 0 $ 0 $0
---------------------------------------------------------------------------------------------------------------------------------
21. SECURED DEBT $ 0 $ 0 $0
---------------------------------------------------------------------------------------------------------------------------------
22. OTHER (ATTACH LIST) $ 1,069,613 $ 1,251,850 $0
---------------------------------------------------------------------------------------------------------------------------------
23. TOTAL POSTPETITION
LIABILITIES $ 551,114 $ 1,185,354 $0
---------------------------------------------------------------------------------------------------------------------------------
PREPETITION LIABILITIES
---------------------------------------------------------------------------------------------------------------------------------
24. SECURED DEBT $ 152,776 $ 0 $ 0 $0
---------------------------------------------------------------------------------------------------------------------------------
25. PRIORITY DEBT $ 380,384 $ 0 $ 0 $0
---------------------------------------------------------------------------------------------------------------------------------
26. UNSECURED DEBT $10,596,326 $18,168,823 $18,168,823 $0
---------------------------------------------------------------------------------------------------------------------------------
27. OTHER (ATTACH LIST) $ 0 $ 0 $0
---------------------------------------------------------------------------------------------------------------------------------
28. TOTAL PREPETITION LIABILITIES $11,129,486 $18,168,823 $18,168,823 $0
---------------------------------------------------------------------------------------------------------------------------------
29. TOTAL LIABILITIES $11,129,486 $18,719,937 $19,354,177 $0
---------------------------------------------------------------------------------------------------------------------------------
EQUITY
---------------------------------------------------------------------------------------------------------------------------------
30. PREPETITION OWNERS' EQUITY $49,811,125 $49,811,125 $0
---------------------------------------------------------------------------------------------------------------------------------
31. POSTPETITION CUMULATIVE
PROFIT OR (LOSS) ($2,111,895) ($1,656,132) $0
---------------------------------------------------------------------------------------------------------------------------------
32. DIRECT CHARGES TO EQUITY
(ATTACH EXPLANATION)
--------------------------------------------------------------------------------------------------------------------------------
33. TOTAL EQUITY $ 0 $47,699,230 $48,154,993 $0
--------------------------------------------------------------------------------------------------------------------------------
34. TOTAL LIABILITIES &
OWNERS' EQUITY $11,129,486 $66,419,167 $67,509,170 $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 July 2001 August 2001 TOTAL
----------------------------------------------------------------------------------------------------------------------------------
1. GROSS REVENUES $1,001,896 $1,608,165 $0 $2,610,061
----------------------------------------------------------------------------------------------------------------------------------
2. LESS: RETURNS & DISCOUNTS $ 0 $ 0 $0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
3. NET REVENUE $1,001,896 $1,608,165 $0 $2,610,061
----------------------------------------------------------------------------------------------------------------------------------
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 $1,001,896 $1,608,165 $0 $2,610,061
----------------------------------------------------------------------------------------------------------------------------------
OPERATING EXPENSES
----------------------------------------------------------------------------------------------------------------------------------
9. OFFICER / INSIDER COMPENSATION $ 10,000 $ 10,000 $0 $ 20,000
----------------------------------------------------------------------------------------------------------------------------------
10. SELLING & MARKETING $ 0 $ 0 $0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
11. GENERAL & ADMINISTRATIVE $ 64,344 $ 90,446 $0 $ 154,790
----------------------------------------------------------------------------------------------------------------------------------
12. RENT & LEASE $ 0 $ 0 $0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
13. OTHER (ATTACH LIST) $ 777,567 $1,306,637 $0 $2,084,204
----------------------------------------------------------------------------------------------------------------------------------
14. TOTAL OPERATING EXPENSES $ 851,911 $1,407,083 $0 $2,258,994
----------------------------------------------------------------------------------------------------------------------------------
15. INCOME BEFORE NON-OPERATING
INCOME & EXPENSE $ 149,985 $ 201,082 $0 $ 351,067
----------------------------------------------------------------------------------------------------------------------------------
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 $ 92 $ 0 $0 $ 92
----------------------------------------------------------------------------------------------------------------------------------
19. DEPRECIATION / DEPLETION $ 171,696 $ 169,758 $0 $ 341,454
----------------------------------------------------------------------------------------------------------------------------------
20. AMORTIZATION $ 0 $ 0 $0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
21. OTHER (ATTACH LIST) ($300,055) ($840,904) $0 ($1,140,959)
----------------------------------------------------------------------------------------------------------------------------------
22. NET OTHER INCOME & EXPENSES ($128,267) ($671,146) $0 ($799,413)
----------------------------------------------------------------------------------------------------------------------------------
REORGANIZATION EXPENSES
----------------------------------------------------------------------------------------------------------------------------------
23. PROFESSIONAL FEES $ 371 $ 0 $0 $ 371
----------------------------------------------------------------------------------------------------------------------------------
24. U.S. TRUSTEE FEES $ 0 $ 0 $0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
25. OTHER (ATTACH LIST) $ 0 $ 0 $0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
26. TOTAL REORGANIZATION EXPENSES $ 371 $ 0 $0 $ 371
----------------------------------------------------------------------------------------------------------------------------------
27. INCOME TAX $ 120,011 $ 416,465 $0 $ 536,476
----------------------------------------------------------------------------------------------------------------------------------
28. NET PROFIT (LOSS) $ 157,870 $455,763 $0 $ 613,633
----------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
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 July 2001 August 2001 TOTAL
----------------------------------------------------------------------------------------------------------------------------------
1. CASH - BEGINNING OF MONTH $ 100,977 $ 48,442 $0 $ 100,977
----------------------------------------------------------------------------------------------------------------------------------
RECEIPTS FROM OPERATIONS
----------------------------------------------------------------------------------------------------------------------------------
2. CASH SALES $ 0 $ 0 $0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
COLLECTION ACCOUNTS RECEIVABLE
----------------------------------------------------------------------------------------------------------------------------------
3. PREPETITION $ 0 $ 0 $0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
4. POSTPETITION $1,841,503 $1,117,054 $0 $2,958,557
----------------------------------------------------------------------------------------------------------------------------------
5. TOTAL OPERATING $1,841,503 $1,117,054 $0 $2,958,557
----------------------------------------------------------------------------------------------------------------------------------
NON - OPERATING RECEIPTS
----------------------------------------------------------------------------------------------------------------------------------
6. LOANS & ADVANCES (ATTACH LIST) $ 0 $ 0 $0 $ 0
----------------------------------------------------------------------------------------------------------------------------------
7. SALE OF ASSETS $ 0 $ 591,822 $0 $ 591,822
----------------------------------------------------------------------------------------------------------------------------------
8. OTHER (ATTACH LIST) ($1,894,038) ($1,720,254) $0 ($3,614,292)
----------------------------------------------------------------------------------------------------------------------------------
9. TOTAL NON-OPERATING RECEIPTS ($1,894,038) ($1,128,432) $0 ($3,022,470)
----------------------------------------------------------------------------------------------------------------------------------
10. TOTAL RECEIPTS ($52,535) ($11,378) $0 ($63,913)
----------------------------------------------------------------------------------------------------------------------------------
11. TOTAL CASH AVAILABLE $ 48,442 $ 37,064 $0 $ 37,064
----------------------------------------------------------------------------------------------------------------------------------
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 $
----------------------------------------------------------------------------------------------------------------------------------
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 ($52,535) ($11,378) $0 ($63,913)
----------------------------------------------------------------------------------------------------------------------------------
33. CASH - END OF MONTH $ 48,442 $ 37,064 $0 $ 37,064
----------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
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 July 2001 August 2001
------------------------------------------------------------------------------------------------------------------------------------
1. 0-30 $ 824,129 $1,300,826 $0
------------------------------------------------------------------------------------------------------------------------------------
2. 31-60 $ 817,298 $ 431,366 $0
------------------------------------------------------------------------------------------------------------------------------------
3. 61-90 $ 135,137 $ 189,355 $0
------------------------------------------------------------------------------------------------------------------------------------
4. 91+ $1,086,747 $ 801,466 $0
------------------------------------------------------------------------------------------------------------------------------------
5. TOTAL ACCOUNTS RECEIVABLE $0 $2,863,311 $2,723,013 $0
------------------------------------------------------------------------------------------------------------------------------------
6. AMOUNT CONSIDERED UNCOLLECTIBLE $ 0 $ 0 $0
------------------------------------------------------------------------------------------------------------------------------------
7. ACCOUNTS RECEIVABLE (NET) $0 $2,863,311 $2,723,013 $0
------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------
AGING OF POSTPETITION TAXES AND PAYABLES MONTH: August 2001
----------------------------------
0-30 31-60 61-90 91+
TAXES PAYABLE DAYS DAYS DAYS DAYS TOTAL
------------------------------------------------------------------------------------------------------------------------------------
1. FEDERAL ($488,544) $ 0 $ 0 $ 0 ($488,544)
------------------------------------------------------------------------------------------------------------------------------------
2. STATE $ 41,409 $ 0 $ 0 $ 0 $ 41,409
------------------------------------------------------------------------------------------------------------------------------------
3. LOCAL $ 0 $ 0 $ 0 $ 0 $ 0
------------------------------------------------------------------------------------------------------------------------------------
4. OTHER (ATTACH LIST) $ 0 $ 0 $ 0 $ 0 $ 0
------------------------------------------------------------------------------------------------------------------------------------
5. TOTAL TAXES PAYABLE ($447,135) $ 0 $ 0 $ 0 ($447,135)
------------------------------------------------------------------------------------------------------------------------------------
6. ACCOUNTS PAYABLE $ 59,989 ($6,495) $39,552 $287,593 $380,639
------------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------
STATUS OF POSTPETITION TAXES MONTH: August 2001
----------------------------------
------------------------------------------------------------------------------------------------------------------------------------
BEGINNING AMOUNT ENDING
TAX WITHHELD AND/ AMOUNT TAX
FEDERAL LIABILITY* 0R ACCRUED PAID LIABILITY
------------------------------------------------------------------------------------------------------------------------------------
1. WITHHOLDING** $ 0 $155,707 $155,707 $ 0
------------------------------------------------------------------------------------------------------------------------------------
2. FICA-EMPLOYEE** $ 0 $ 0 $ 0 $ 0
------------------------------------------------------------------------------------------------------------------------------------
3. FICA-EMPLOYER** $ 0 $ 0 $ 0 $ 0
------------------------------------------------------------------------------------------------------------------------------------
4. UNEMPLOYMENT $ 0 $ 0 $ 0 $ 0
------------------------------------------------------------------------------------------------------------------------------------
5. INCOME ($905,009) $416,465 $ 0 ($488,544)
------------------------------------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) $ 0 $ 0 $ 0 $ 0
------------------------------------------------------------------------------------------------------------------------------------
7. TOTAL FEDERAL TAXES ($905,009) $572,172 $155,707 ($488,544)
------------------------------------------------------------------------------------------------------------------------------------
STATE AND LOCAL
------------------------------------------------------------------------------------------------------------------------------------
8. WITHHOLDING $ 0 $ 0 $ 0 $ 0
------------------------------------------------------------------------------------------------------------------------------------
9. SALES $ 324 $ 0 $ 0 $ 324
------------------------------------------------------------------------------------------------------------------------------------
10. EXCISE $ 16,420 $24,665 $ 0 $ 41,085
------------------------------------------------------------------------------------------------------------------------------------
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 $ 16,744 $24,665 $ 0 $ 41,409
--------------------------------------------------------------------- --------------------------------------------------------------
16. TOTAL TAXES ($888,265) $596,837 $155,707 ($447,135)
------------------------------------------------------------------------------------------------------------------------------------
* 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: August 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 $12,062 $12,062
------------------------------------------------------------------------------------------------------------------------------------
2. ADD: TOTAL DEPOSITS NOT CREDITED $ 0 $ 0 $ 0
------------------------------------------------------------------------------------------------------------------------------------
3. SUBTRACT: OUTSTANDING CHECKS $ 0 $ 0 $ 0
------------------------------------------------------------------------------------------------------------------------------------
4. OTHER RECONCILING ITEMS $9,619 $ 0 $ 9,619
------------------------------------------------------------------------------------------------------------------------------------
5. MONTH END BALANCE PER BOOKS $9,619 $12,062 $0 $21,681
------------------------------------------------------------------------------------------------------------------------------------
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 $37,064
------------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Monthly Operating Report
----------------------------------------
CASE NAME: Kitty Hawk Charters, Inc. ACCRUAL BASIS-6
----------------------------------------
----------------------------------------
CASE NUMBER: 400-42143-BJH 02/13/95, RWD, 2/96
----------------------------------------
MONTH: August 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 $175,000
------------------------------------------------------------------------------------------
3. N/A
------------------------------------------------------------------------------------------
4. N/A
------------------------------------------------------------------------------------------
5. N/A
------------------------------------------------------------------------------------------
6. TOTAL PAYMENTS
TO INSIDERS $10,000 $179,808
------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
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. N/A
----------------------------------------------------------------------------------------------------------------
2. N/A
----------------------------------------------------------------------------------------------------------------
3. N/A
----------------------------------------------------------------------------------------------------------------
4. N/A
----------------------------------------------------------------------------------------------------------------
5. N/A
----------------------------------------------------------------------------------------------------------------
6. TOTAL
----------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Monthly Operating Report
-------------------------------------------
CASE NAME: Kitty Hawk Charters, Inc. ACCRUAL BASIS-7
-------------------------------------------
-------------------------------------------
CASE NUMBER: 400-42143-BJH 02/13/95, RWD, 2/96
-------------------------------------------
MONTH: August 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 1 - The Company has shut down the KH Turbines operating unit of KH
--------------------------------------------------------------------------------
Charters. Assets are being sold to third parties and through auction to be held
--------------------------------------------------------------------------------
in October. One aircraft of KH Charters and one engine were sold during the
--------------------------------------------------------------------------------
month. All proceeds for asset sales have been remitted to Wells Fargo Bank in
--------------------------------------------------------------------------------
accordance with court orders.
--------------------------------------------------------------------------------
------------------------------
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. FOOTNOTES SUPPLEMENT
--------------------------------------------
--------------------------------------------
CASE NUMBER: 400-42143-BJH ACCRUAL BASIS
--------------------------------------------
MONTH: August 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)
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------
CASE NAME: Kitty Hawk Charters, Inc.
CASE NUMBER: 400-42143
Details of Other Items
ACCRUAL BASIS-1 August 2001
8. OTHER (ATTACH LIST) $ 53,614,761 Reported
-----------------------------------
Intercompany Receivables 51,296,400
A/R 401(k) Loan (2,996)
A/R Employees (913)
A/R Clothing Sales 27,177
A/R Other 267,277
A/R Aging reconciling item 211,940
A/R Accrued -
A/R Customer Refund -
Aircraft held for Resale 1,665,099
Fuel Inventory (4,486)
Security Deposit 155,263
-----------------------------------
53,614,761 Detail
-----------------------------------
- Difference
22. OTHER (ATTACH LIST) $ 1,251,850 Reported
-----------------------------------
Customer Deposits -
Accrued charter expenses 450,968
Accrued Salaries/Wages 207,099
Accrued 401(k) 11,720
A/P Aging reconciling item 5,581
Misc 15,962
Accrued Fuel 560,520
-----------------------------------
1,251,850 Detail
-----------------------------------
- Difference
ACCRUAL BASIS-2
13. OTHER (ATTACH LIST) $ 1,306,637 Reported
-----------------------------------
Ondemand costs 138,145
135 Airline charter costs 8,872
Parts Lease -
Engine Maintenance 9,850
Cost of parts sales 57,600
Fuel 423,675
Wages 565,233
Travel expense 13,381
Insurance 35,010
Rotables/Repair/Consumables 33,774
Shipping 2,473
Charts 3,268
Pre-emp testing -
Shop materials/equip rental 15,356
Maintenance allocation -
-----------------------------------
1,306,637 Detail
-----------------------------------
- Difference
ACCRUAL BASIS-2
21. OTHER (ATTACH LIST) (840,904) Reported
-----------------------------------
Gain on sale of asset (840,871)
Misc income (33)
-----------------------------------
(840,904) Detail
-----------------------------------
- Difference
ACCRUAL BASIS-3
8. OTHER (ATTACH LIST) (1,720,254) Reported
-----------------------------------
Credit card charges (7,618)
Sweeps to Kitty Hawk, Inc. (1,712,636) Detail
-----------------------------------
(1,720,254) Detail
-----------------------------------
- Difference
EX-99.4
6
dex994.txt
MONTHLY OPERATING REPORT FOR KITYY HAWK INT'L
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: AUGUST 31, 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 9/20/2001
---------------------------------------------- -----------------------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
/s/ Jessica L. Wilson Chief Accounting Officer
---------------------------------------------- -----------------------------
ORIGINAL SIGNATURE OF PREPARER TITLE
Jessica L. Wilson 9/20/2001
---------------------------------------------- -----------------------------
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
------------------------------------------------------------------------------------------------------------------------
MONTH MONTH MONTH
SCHEDULE --------------------------------------------------------------
ASSETS AMOUNT July 2001 August 2001
------------------------------------------------------------------------------------------------------------------------
1. UNRESTRICTED CASH $ 40,098 $ 0 $ 0 $0
------------------------------------------------------------------------------------------------------------------------
2. RESTRICTED CASH $ 20,424,198 $ 19,229,498 $0
------------------------------------------------------------------------------------------------------------------------
3. TOTAL CASH $ 40,098 $ 20,424,198 $ 19,229,498 $0
------------------------------------------------------------------------------------------------------------------------
4. ACCOUNTS RECEIVABLE (NET) $ 9,006,275 $ 7,129,535 $ 7,071,039 $0
------------------------------------------------------------------------------------------------------------------------
5. INVENTORY $ 20,429,725 $ 0 $ 0 $0
------------------------------------------------------------------------------------------------------------------------
6. NOTES RECEIVABLE $ 3,000,000 $ 3,000,000 $0
------------------------------------------------------------------------------------------------------------------------
7. PREPAID EXPENSES ($1,309) $ 73,614 $0
------------------------------------------------------------------------------------------------------------------------
8. OTHER (ATTACH LIST) $ 21,367,511 ($351,714,172) ($351,610,665) $0
------------------------------------------------------------------------------------------------------------------------
9. TOTAL CURRENT ASSETS $ 50,843,609 ($321,161,748) ($322,236,514) $0
------------------------------------------------------------------------------------------------------------------------
10. PROPERTY, PLANT & EQUIPMENT $474,988,760 $ 520,767,098 $ $520,767,098 $0
------------------------------------------------------------------------------------------------------------------------
11. LESS: ACCUMULATED
DEPRECIATION/DEPLETION $ 439,236,027 $ $439,236,027 $0
------------------------------------------------------------------------------------------------------------------------
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 ($239,630,677) ($240,705,443) $0
------------------------------------------------------------------------------------------------------------------------
POSTPETITION LIABILITIES
------------------------------------------------------------------------------------------------------------------------
17. ACCOUNTS PAYABLE $ 78,034 ($25,008) $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) ($147,994,874) ($148,930,942) $0
------------------------------------------------------------------------------------------------------------------------
23. TOTAL POSTPETITION
LIABILITIES ($147,916,840) ($148,955,950) $0
------------------------------------------------------------------------------------------------------------------------
PREPETITION LIABILITIES
------------------------------------------------------------------------------------------------------------------------
24. SECURED DEBT $ 23,187,921 $ 22,196,865 $ $22,195,225 $0
------------------------------------------------------------------------------------------------------------------------
25. PRIORITY DEBT $ 4,672,323 $ 0 $ 0 $0
------------------------------------------------------------------------------------------------------------------------
26. UNSECURED DEBT $392,188,633 $ 16,874,368 $ $16,874,368 $0
------------------------------------------------------------------------------------------------------------------------
27. OTHER (ATTACH LIST) $ 75,981,394 $ $75,981,394 $0
------------------------------------------------------------------------------------------------------------------------
28. TOTAL PREPETITION LIABILITIES $420,048,877 $ 115,052,627 $ $115,050,987 $0
------------------------------------------------------------------------------------------------------------------------
29. TOTAL LIABILITIES $420,048,877 ($32,864,213) ($33,904,963) $0
------------------------------------------------------------------------------------------------------------------------
EQUITY
------------------------------------------------------------------------------------------------------------------------
30. PREPETITION OWNERS' EQUITY $ 16,327,446 $ 16,327,446 $0
------------------------------------------------------------------------------------------------------------------------
31. POSTPETITION CUMULATIVE
PROFIT OR (LOSS) ($223,093,910) ($223,127,926) $0
------------------------------------------------------------------------------------------------------------------------
32. DIRECT CHARGES TO EQUITY
(ATTACH EXPLANATION)
------------------------------------------------------------------------------------------------------------------------
33. TOTAL EQUITY $ 0 ($206,766,464) ($206,800,480) $0
------------------------------------------------------------------------------------------------------------------------
34. TOTAL LIABILITIES &
OWNERS' EQUITY $420,048,877 ($239,630,677) ($240,705,443) $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
REVENUES July 2001 August 2001 TOTAL
------------------------------------------------------------------------------------------------------------------------------------
1. GROSS REVENUES $ 59,080 $ 0 $0 $ 59,080
------------------------------------------------------------------------------------------------------------------------------------
2. LESS: RETURNS & DISCOUNTS $ 0 $ 0 $0 $ 0
------------------------------------------------------------------------------------------------------------------------------------
3. NET REVENUE $ 59,080 $ 0 $0 $ 59,080
------------------------------------------------------------------------------------------------------------------------------------
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 $ 59,080 $ 0 $0 $ 59,080
------------------------------------------------------------------------------------------------------------------------------------
OPERATING EXPENSES
------------------------------------------------------------------------------------------------------------------------------------
9. OFFICER/ INSIDER COMPENSATION $ 0 $ 0 $0 $ 0
------------------------------------------------------------------------------------------------------------------------------------
10. SELLING & MARKETING $ 0 $ 0 $0 $ 0
------------------------------------------------------------------------------------------------------------------------------------
11. GENERAL & ADMINISTRATIVE ($19,826) ($3,444) $0 ($23,270)
------------------------------------------------------------------------------------------------------------------------------------
12. RENT & LEASE ($21,000) ($21,000) $0 ($42,000)
------------------------------------------------------------------------------------------------------------------------------------
13. OTHER (ATTACH LIST) $ 0 $ 0 $0 $ 0
------------------------------------------------------------------------------------------------------------------------------------
14. TOTAL OPERATING EXPENSES ($40,826) ($24,444) $0 ($65,270)
------------------------------------------------------------------------------------------------------------------------------------
15. INCOME BEFORE NON-OPERATING
INCOME & EXPENSE $ 99,906 $ 24,444 $0 $ 124,350
------------------------------------------------------------------------------------------------------------------------------------
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 $ 95 $ 50 $0 $ 145
------------------------------------------------------------------------------------------------------------------------------------
19. DEPRECIATION/ DEPLETION $ 0 $ 0 $0 $ 0
------------------------------------------------------------------------------------------------------------------------------------
20. AMORTIZATION $ 7,942 $ 7,942 $0 $ 15,884
------------------------------------------------------------------------------------------------------------------------------------
21. OTHER (ATTACH LIST) ($52,321) ($57,667) $0 ($109,988)
------------------------------------------------------------------------------------------------------------------------------------
22. NET OTHER INCOME & EXPENSES ($44,284) ($49,675) $0 ($93,959)
------------------------------------------------------------------------------------------------------------------------------------
REORGANIZATION EXPENSES
------------------------------------------------------------------------------------------------------------------------------------
23. PROFESSIONAL FEES $ 22,804 $ 130,812 $0 $ 153,616
------------------------------------------------------------------------------------------------------------------------------------
24. U.S. TRUSTEE FEES $ 0 $ 0 $0 $ 0
------------------------------------------------------------------------------------------------------------------------------------
25. OTHER (ATTACH LIST) $ 0 $ 0 $0 $ 0
------------------------------------------------------------------------------------------------------------------------------------
26. TOTAL REORGANIZATION EXPENSES $ 22,804 $ 130,812 $0 $ 153,616
------------------------------------------------------------------------------------------------------------------------------------
27. INCOME TAX $ 48,547 ($22,677) $0 $ 25,870
------------------------------------------------------------------------------------------------------------------------------------
28. NET PROFIT (LOSS) $ 72,839 ($34,016) $0 $ 38,823
------------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
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
CASH RECEIPTS AND ---------------------------------------------------------------------
DISBURSEMENTS July 2001 August 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 $ 5,000 $ 37,000 $0 $ 42,000
------------------------------------------------------------------------------------------------------------------------------------
5. TOTAL OPERATING RECEIPTS $ 5,000 $ 37,000 $0 $ 42,000
------------------------------------------------------------------------------------------------------------------------------------
NON-OPERATING RECEIPTS
------------------------------------------------------------------------------------------------------------------------------------
6. LOANS & ADVANCES (ATTACH LIST) $ 0 $ 0 $0 $ 0
------------------------------------------------------------------------------------------------------------------------------------
7. SALE OF ASSETS $ 0 $ 0 $0 $ 0
------------------------------------------------------------------------------------------------------------------------------------
8. OTHER (ATTACH LIST) ($5,000) ($37,000) $0 ($42,000)
------------------------------------------------------------------------------------------------------------------------------------
9. TOTAL NON-OPERATING RECEIPTS ($5,000) ($37,000) $0 ($42,000)
------------------------------------------------------------------------------------------------------------------------------------
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 July 2001 August 2001
-------------------------------------------------------------------------------------------------------------------------
1. 0-30 $ 125 ($16,000) $ 0
-------------------------------------------------------------------------------------------------------------------------
2. 31-60 $ 0 $ 125 $ 0
-------------------------------------------------------------------------------------------------------------------------
3. 61-90 $ 0 $ 0 $ 0
-------------------------------------------------------------------------------------------------------------------------
4. 91+ $ 7,129,410 $ 7,086,914 $ 0
-------------------------------------------------------------------------------------------------------------------------
5. TOTAL ACCOUNTS RECEIVABLE $ 0 $ 7,129,535 $ 7,071,039 $ 0
-------------------------------------------------------------------------------------------------------------------------
6. AMOUNT CONSIDERED UNCOLLECTIBLE $ 0 $ 0 $ 0
-------------------------------------------------------------------------------------------------------------------------
7. ACCOUNTS RECEIVABLE (NET) $ 0 $ 7,129,535 $ 7,071,039 $ 0
-------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------
AGING OF POSTPETITION TAXES AND PAYABLES MONTH: August 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 ($20,360) ($93,032) $ 24,059 $ 64,325 ($25,008)
-------------------------------------------------------------------------------------------------------------------------
---------------------------------------------
STATUS OF POSTPETITION TAXES MONTH: August 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: 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: August 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: August 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 $ 784 $0
------------------------------------------------------------------------------------
3. GE Capital varies $ 0 $0
------------------------------------------------------------------------------------
4. N/A $ 0 $0
------------------------------------------------------------------------------------
5. N/A $0
------------------------------------------------------------------------------------
6 TOTAL $1,639 $ 1,639 $0
------------------------------------------------------------------------------------
-------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Monthly Operating Report
---------------------------------------------
CASE NAME: Kitty Hawk International, Inc. ACCRUAL BASIS-7
---------------------------------------------
---------------------------------------------
CASE NUMBER: 400-42144 02/13/95, RWD, 2/96
---------------------------------------------
MONTH: August 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 August GE Capital was paid for debt outstanding as equipment was
located and used in operations.
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Item 3 - The company currently has a note for $3 mm due from Kalitta Air, owned
by Connie Kalitta, for the purchase of a Boeing 747 in 11/01.
--------------------------------------------------------------------------------
---------------------------------------------------
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. FOOTNOTES SUPPLEMENT
-------------------------------------------------
-------------------------------------------------
CASE NUMBER: 400-42144 ACCRUAL BASIS
-------------------------------------------------
MONTH: August 2001
-----------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
ACCRUAL BASIS LINE
FORM NUMBER 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 during
-----------------------------------------------------------------------------------------------------------------------------------
April 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.
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
CASE NAME: Kitty Hawk International, Inc.
CASE NUMBER: 400-42144
Details of Other Items
ACCRUAL BASIS-1 August 2001
8. OTHER (ATTACH LIST) $ (351,610,665) Reported
----------------------------------
Intercompany Receivables (366,797,074)
A/R Senior Noteholders 821,025
A/R 401(k) Loan (4,535)
A/R Insurance 133,954
A/R Auction Proceeds -
A/R Aging Reconciling item 109,021
Deferred Taxes 13,097,746
Loan Org Costs 31,768
Deposits - Aircraft 360,971
Deposits - Rent 218,828
Security Deposit 417,631
----------------------------------
(351,610,665) Detail
----------------------------------
- Difference
22. OTHER (ATTACH LIST) $ (148,930,942) Reported
----------------------------------
Accrued income taxes (148,751,950)
Accrued Misc (190,492)
Customer deposit -
Accrued Fuel 11,500
----------------------------------
(148,930,942) Detail
----------------------------------
- Difference
27. OTHER (ATTACH LIST) $ 75,981,394 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 (275,816)
Purchase reserves 1,762,176
Accrued Landing fees/parking/cargo fees 1,646,149
Various accrued taxes 1,313,200
CASE NAME: Kitty Hawk International, Inc.
CASE NUMBER: 400-42144
Details of Other Items
Other Misc accruals (638,896)
----------------------------------
75,981,394 Detail
----------------------------------
- Differnece
ACCRUAL BASIS-2
21 NON-OPERATING INCOME (ATT. LIST) ($57,667) Reported
----------------------------------
Interest income on restricted cash investments (57,367)
Gain on asset sales (300)
----------------------------------
(57,667) Detail
----------------------------------
- Differnece
ACCRUAL BASIS-3
8. OTHER (ATTACH LIST) (37,000) Reported
----------------------------------
Transfer to Inc - all money sweeps
----------------------------------
to KH Inc. Case #400-42141 (37,000) Detail
----------------------------------
- Difference
EX-99.5
7
dex995.txt
MONTHLY OPERATING REPORT FOR KITTY HAWK CARGO
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: AUGUST 31, 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 9/20/01
------------------------------------------ -----------------------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
/s/ Kevin K. Craig CONTROLLER, KITTY HAWK INC.
------------------------------------------ -----------------------------
ORIGINAL SIGNATURE OF PREPARER TITLE
KEVIN K. CRAIG 9/20/01
------------------------------------------ -----------------------------
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 JULY, 2001 AUGUST, 2001
----------------------------------------------------------------------------------------------------------------------------
1. UNRESTRICTED CASH $ 12,075 $ 11,751
----------------------------------------------------------------------------------------------------------------------------
2. RESTRICTED CASH $ 0 $ 0
----------------------------------------------------------------------------------------------------------------------------
3. TOTAL CASH $ 0 $ 12,075 $ 11,751 $0
----------------------------------------------------------------------------------------------------------------------------
4. ACCOUNTS RECEIVABLE (NET) $ 41,314,895 $22,034,635 $20,636,684
----------------------------------------------------------------------------------------------------------------------------
5. INVENTORY $ 0 $ 0
----------------------------------------------------------------------------------------------------------------------------
6. NOTES RECEIVABLE $ 0 $ 0
----------------------------------------------------------------------------------------------------------------------------
7. PREPAID EXPENSES $ 35,445 $ 0 $ 0
----------------------------------------------------------------------------------------------------------------------------
8. OTHER (ATTACH LIST) $102,257,281 $20,551,297 $14,720,182
----------------------------------------------------------------------------------------------------------------------------
9. TOTAL CURRENT ASSETS $143,607,621 $42,598,007 $35,368,617 $0
----------------------------------------------------------------------------------------------------------------------------
10. PROPERTY, PLANT & EQUIPMENT $ 2,455,211 $ 4,716,415 $ 4,727,801
----------------------------------------------------------------------------------------------------------------------------
11. LESS: ACCUMULATED
DEPRECIATION / DEPLETION $ 2,806,509 $ 2,858,470
----------------------------------------------------------------------------------------------------------------------------
12. NET PROPERTY, PLANT &
EQUIPMENT $ 2,455,211 $ 1,909,906 $ 1,869,331 $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 $44,507,913 $37,237,948 $0
----------------------------------------------------------------------------------------------------------------------------
POSTPETITION LIABILITIES
----------------------------------------------------------------------------------------------------------------------------
17. ACCOUNTS PAYABLE $ 956,496 $ 686,094
----------------------------------------------------------------------------------------------------------------------------
18. TAXES PAYABLE $ 684,532 $ 749,994
----------------------------------------------------------------------------------------------------------------------------
19. NOTES PAYABLE $ 0 $ 0
----------------------------------------------------------------------------------------------------------------------------
20. PROFESSIONAL FEES $ 0 $ 0
----------------------------------------------------------------------------------------------------------------------------
21. SECURED DEBT $ 0 $ 0
----------------------------------------------------------------------------------------------------------------------------
22. OTHER (ATTACH LIST) ($ 8,622,072) ($12,797,618)
----------------------------------------------------------------------------------------------------------------------------
23. TOTAL POSTPETITION
LIABILITIES ($ 6,981,044) ($11,361,530) $0
----------------------------------------------------------------------------------------------------------------------------
PREPETITION LIABILITIES
----------------------------------------------------------------------------------------------------------------------------
24. SECURED DEBT $ 0 $ 0
----------------------------------------------------------------------------------------------------------------------------
25. PRIORITY DEBT $ 496,687 $ 0 $ 0
----------------------------------------------------------------------------------------------------------------------------
26. UNSECURED DEBT $ 78,864,376 $ 5,092,400 $ 5,092,400
----------------------------------------------------------------------------------------------------------------------------
27. OTHER (ATTACH LIST) $ 4,954,286 $ 4,954,286
----------------------------------------------------------------------------------------------------------------------------
28. TOTAL PREPETITION LIABILITIES $ 79,361,063 $10,046,686 $10,046,686 $0
----------------------------------------------------------------------------------------------------------------------------
29. TOTAL LIABILITIES $ 79,361,063 $ 3,065,642 ($ 1,314,844) $0
----------------------------------------------------------------------------------------------------------------------------
EQUITY
----------------------------------------------------------------------------------------------------------------------------
30. PREPETITION OWNERS' EQUITY $61,741,245 $61,741,245
----------------------------------------------------------------------------------------------------------------------------
31. POSTPETITION CUMULATIVE
PROFIT OR (LOSS) ($20,298,974) ($23,188,453)
----------------------------------------------------------------------------------------------------------------------------
32. DIRECT CHARGES TO EQUITY
(ATTACH EXPLANATION) $ 0 $ 0 $0
----------------------------------------------------------------------------------------------------------------------------
33. TOTAL EQUITY $ 0 $41,442,271 $38,552,792 $0
----------------------------------------------------------------------------------------------------------------------------
34. TOTAL LIABILITIES &
OWNERS' EQUITY $ 79,361,063 $44,507,913 $37,237,948 $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 JULY, 2001 AUGUST, 2001 TOTAL
------------------------------------------------------------------------------------------------------------------------------
1. GROSS REVENUES $14,077,707 $12,753,521 $26,831,228
------------------------------------------------------------------------------------------------------------------------------
2. LESS: RETURNS & DISCOUNTS $ 0 $ 0 $ 0
------------------------------------------------------------------------------------------------------------------------------
3. NET REVENUE $14,077,707 $12,753,521 $0 $26,831,228
------------------------------------------------------------------------------------------------------------------------------
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 $14,077,707 $12,753,521 $0 $26,831,228
------------------------------------------------------------------------------------------------------------------------------
OPERATING EXPENSES
------------------------------------------------------------------------------------------------------------------------------
9. OFFICER / INSIDER COMPENSATION $ 13,333 $ 13,333 $ 26,666
------------------------------------------------------------------------------------------------------------------------------
10. SELLING & MARKETING $ 3,224 $ 5,593 $ 8,817
------------------------------------------------------------------------------------------------------------------------------
11. GENERAL & ADMINISTRATIVE $ 2,522,721 $ 4,800,582 $ 7,323,303
------------------------------------------------------------------------------------------------------------------------------
12. RENT & LEASE $ 317,964 $ 277,128 $ 595,092
------------------------------------------------------------------------------------------------------------------------------
13. OTHER (ATTACH LIST) $17,121,236 $12,040,636 $29,161,872
------------------------------------------------------------------------------------------------------------------------------
14. TOTAL OPERATING EXPENSES $19,978,478 $17,137,272 $0 $37,115,750
------------------------------------------------------------------------------------------------------------------------------
15. INCOME BEFORE NON-OPERATING
INCOME & EXPENSE ($5,900,771) ($4,383,751) $0 ($10,284,522)
------------------------------------------------------------------------------------------------------------------------------
OTHER INCOME & EXPENSES
------------------------------------------------------------------------------------------------------------------------------
16. NON-OPERATING INCOME (ATT. LIST) ($39,214) ($420) ($39,634)
------------------------------------------------------------------------------------------------------------------------------
17. NON-OPERATING EXPENSE (ATT. LIST) $ 0 $ 0 $ 0
------------------------------------------------------------------------------------------------------------------------------
18. INTEREST EXPENSE $ 335,802 $ 380,505 $ 716,307
------------------------------------------------------------------------------------------------------------------------------
19. DEPRECIATION / DEPLETION $ 51,521 $ 51,961 $ 103,482
------------------------------------------------------------------------------------------------------------------------------
20. AMORTIZATION $ 0 $ 0 $ 0
------------------------------------------------------------------------------------------------------------------------------
21. OTHER (ATTACH LIST) $ 0 $ 0 $ 0
------------------------------------------------------------------------------------------------------------------------------
22. NET OTHER INCOME & EXPENSES $ 348,109 $ 432,046 $0 $ 780,155
------------------------------------------------------------------------------------------------------------------------------
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 ($2,499,551) ($1,926,319) ($4,425,870)
------------------------------------------------------------------------------------------------------------------------------
28. NET PROFIT (LOSS) ($3,749,329) ($2,889,478) $0 ($6,638,807)
------------------------------------------------------------------------------------------------------------------------------
$ 0 $ 0
--------------------------------------------------------------------------------
-------------------------------------------------------------------------------
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 JULY, 2001 AUGUST, 2001 TOTAL
------------------------------------------------------------------------------------------------------------
1. CASH - BEGINNING OF MONTH ($13,805) $ 12,075 $11,751 ($13,805)
------------------------------------------------------------------------------------------------------------
RECEIPTS FROM OPERATIONS
------------------------------------------------------------------------------------------------------------
2. CASH SALES $ 0 $ 0 $ 0 $ 0
------------------------------------------------------------------------------------------------------------
COLLECTION OF ACCOUNTS RECEIVABLE
------------------------------------------------------------------------------------------------------------
3. PREPETITION $ 0 $ 0 $ 0
------------------------------------------------------------------------------------------------------------
4. POSTPETITION $10,279,143 $9,092,820 $19,371,963
------------------------------------------------------------------------------------------------------------
5. TOTAL OPERATING RECEIPTS $10,279,143 $9,092,820 $ 0 $19,371,963
------------------------------------------------------------------------------------------------------------
NON - OPERATING RECEIPTS
------------------------------------------------------------------------------------------------------------
6. LOANS & ADVANCES (ATTACH LIST) $ 0 $ 0 $ 0
------------------------------------------------------------------------------------------------------------
7. SALE OF ASSETS $ 0 $ 0 $ 0
------------------------------------------------------------------------------------------------------------
8. OTHER (ATTACH LIST) ($10,253,263) ($9,093,144) ($19,346,407)
------------------------------------------------------------------------------------------------------------
9. TOTAL NON-OPERATING RECEIPTS ($10,253,263) ($9,093,144) $ 0 ($19,346,407)
------------------------------------------------------------------------------------------------------------
10. TOTAL RECEIPTS $ 25,880 ($324) $ 0 $ 25,556
------------------------------------------------------------------------------------------------------------
11. TOTAL CASH AVAILABLE $ 12,075 $ 11,751 $11,751 $ 11,751
------------------------------------------------------------------------------------------------------------
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 $ 25,880 ($324) $ 0 $ 25,556
------------------------------------------------------------------------------------------------------------
33. CASH - END OF MONTH $ 12,075 $ 11,751 $11,751 $ 11,751
------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Monthly Operating Report
----------------------------------------------
CASE NAME: KITTY HAWK CARGO, INC ACCRUAL BASIS-4
----------------------------------------------
----------------------------------------------
CASE NUMBER: 400-42145-BJH-11 2/13/95, RWD, 2/96
----------------------------------------------
---------------------------------------------------------------------------------------------------------------
SCHEDULE MONTH MONTH MONTH
-----------------------------------------------
ACCOUNTS RECEIVABLE AGING AMOUNT JULY, 2001 AUGUST, 2001
---------------------------------------------------------------------------------------------------------------
1. 0-30 $21,518,319 $17,197,076 $16,432,866
---------------------------------------------------------------------------------------------------------------
2. 31-60 $14,127,296 $ 497,728 $ 241,179
---------------------------------------------------------------------------------------------------------------
3. 61-90 $ 2,070,404 $ 151,761 $ 295,180
---------------------------------------------------------------------------------------------------------------
4. 91+ $ 3,598,876 $ 2,883,437 $ 2,882,022
---------------------------------------------------------------------------------------------------------------
5. TOTAL ACCOUNTS RECEIVABLE $41,314,895 $20,730,002 $19,851,247 $0
---------------------------------------------------------------------------------------------------------------
6. AMOUNT CONSIDERED UNCOLLECTIBLE
---------------------------------------------------------------------------------------------------------------
7. ACCOUNTS RECEIVABLE (NET) $41,314,895 $20,730,002 $19,851,247 $0
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------
AGING OF POSTPETITION TAXES AND PAYABLES MONTH: AUGUST, 2001
---------------------------------
---------------------------------------------------------------------------------------------------------------
0-30 31-60 61-90 91+
TAXES PAYABLE DAYS DAYS DAYS DAYS TOTAL
---------------------------------------------------------------------------------------------------------------
1. FEDERAL $749,994 $749,994
---------------------------------------------------------------------------------------------------------------
2. STATE $ 0
---------------------------------------------------------------------------------------------------------------
3. LOCAL $ 0
---------------------------------------------------------------------------------------------------------------
4. OTHER (ATTACH LIST) $ 0
---------------------------------------------------------------------------------------------------------------
5. TOTAL TAXES PAYABLE $749,994 $ 0 $ 0 $ 0 $749,994
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
6. ACCOUNTS PAYABLE $548,259 $35,842 $49,514 $52,479 $686,094
---------------------------------------------------------------------------------------------------------------
$ 0
-----------------------------------------------
STATUS OF POSTPETITION TAXES MONTH: AUGUST, 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) $684,532 $749,994 $684,532 $749,994
---------------------------------------------------------------------------------------------------------------
7. TOTAL FEDERAL TAXES $684,532 $749,994 $684,532 $749,994
---------------------------------------------------------------------------------------------------------------
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 $684,532 $749,994 $684,532 $749,994
---------------------------------------------------------------------------------------------------------------
* 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: AUGUST, 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 $3,251 $ 3,251
--------------------------------------------------------------------------------------------------------------
5. MONTH END BALANCE PER BOOKS $3,251 $0 $0 $ 3,251
--------------------------------------------------------------------------------------------------------------
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 $ 8,500
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
13. TOTAL CASH - END OF MONTH $11,751
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
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: AUGUST, 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 $ 13,333 $284,833
--------------------------------------------------------------------------------
2.
--------------------------------------------------------------------------------
3.
--------------------------------------------------------------------------------
4.
--------------------------------------------------------------------------------
5.
--------------------------------------------------------------------------------
6. TOTAL PAYMENTS
TO INSIDERS $ 13,333 $284,833
--------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
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 $184,377 $184,377 $0
--------------------------------------------------------------------------------------------------
2. Ridgely - City of Philadelphia - PHL $ 26,274 $ 26,274 $0
--------------------------------------------------------------------------------------------------
3. Continental Airlines - EWR $ 21,762 $ 21,762 $0
--------------------------------------------------------------------------------------------------
4. City of Los Angeles - LAX $ 5,334 $ 5,334 $0
--------------------------------------------------------------------------------------------------
5. Airport Group Int'l - ATL $ 11,200 $ 11,200 $0
--------------------------------------------------------------------------------------------------
6. TOTAL $248,947 $248,947 $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: AUGUST, 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. FOOTNOTES SUPPLEMENT
----------------------------------
----------------------------------
CASE NUMBER: 400-42145-BJH-11 ACCRUAL BASIS
----------------------------------
MONTH: AUGUST, 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 in January, 2001 (case #00-42142-BJH-11)
------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------
6 Insiders Payments to insiders include a portion of the Court approved retention
------------------------------------------------------------------------------------------------------------------------------
payments in the month of January.
------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------
6 Leases EWR station & Lessor was changed to Continental; ATL rent paid 8/30, G/L 9/01
------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------
CASE NAME: KITTY HAWK CARGO, INC
CASE NUMBER: 400-42145-BJH-11
Details of Other Items AUGUST, 2001
ACCRUAL BASIS-1
8. OTHER (ATTACH LIST) $ 14,720,182 Reported
---------------
Net of all I/C Accts Receivable/Payable 11,672,465
Intangibles - Other 154,458
Note Receivable - AFL 2,549,195
Deposits 344,064
---------------
14,720,182 Detail
---------------
- Difference
---------------
22. OTHER (ATTACH LIST) $ (12,797,618)Reported
---------------
Accrued Liabilities 2,746,570
Accrued Salaries & PR Taxes -
Less: FET Taxes Payable (Line 18) (749,994)
Post-petition Fed Inc Tax (14,794,194)
---------------
*** FET recorded in Taxes Payable (12,797,618)Detail
---------------
- Difference
---------------
27. OTHER (ATTACH LIST) $ 4,954,286 Reported
---------------
Pre-petition Fed Inc Tax 4,018,643
Pre-petition Deposits 479,840
Pre-petition Taxes Other -
Pre-petition Accrued Liabilities 455,803
---------------
4,954,286 Detail
---------------
- Difference
---------------
ACCRUAL BASIS-2
13. OTHER (ATTACH LIST) $ 12,040,636 Reported
---------------
Aircraft Costs 2,466,631
I/C Aircraft Costs (KHA) 4,084,878
KHC Ground Handling (Operations Payroll) 912,305
Outstation Ground Handling 1,284,360
Trucking Costs 401,406
Fuel 2,826,437
Contract Labor -
Other 64,619
---------------
12,040,636 Detail
---------------
- Difference
ACCRUAL BASIS-3
8. OTHER (ATTACH LIST) (9,093,144)Reported
---------------
Transfer to Inc - all money sweeps (9,093,144)Detail
---------------
to KH Inc. Case #400-42141 - Difference
---------------
ACCRUAL BASIS-4
6. OTHER (ATTACH LIST) 1,434,526 Reported
---------------
FET (720) 7/01-15/01 Pd 8/10 291,400
FET (720) 7/16-31/01 Pd 8/27 389,155
FET (720) Refund - Reconciling Items 3,977
FET (720) 8/01-31/01 749,994
---------------
1,434,526 Detail
---------------
- Difference
---------------
EX-99.6
8
dex996.txt
MONTHLY OPERATING REPORT FOR O.K. TURBINES
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: AUGUST 31, 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 9/20/2001
---------------------------- -----------------------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
/s/ Jessica L. Wilson Chief Accounting Officer
---------------------------- -----------------------------
ORIGINAL SIGNATURE OF PREPARER TITLE
Jessica L. Wilson 9/20/2001
---------------------------- -----------------------------
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 July 2001 August 2001
-------------------------------------------------------------------------------------------------------------------------
1. UNRESTRICTED CASH $ 299,835 $ 301,181 $ 353,847 $0
-------------------------------------------------------------------------------------------------------------------------
2. RESTRICTED CASH $ 0 $ 0 $ 0 $0
-------------------------------------------------------------------------------------------------------------------------
3. TOTAL CASH $ 299,835 $ 301,181 $ 353,847 $0
-------------------------------------------------------------------------------------------------------------------------
4. ACCOUNTS RECEIVABLE (NET) $ 569,077 $ 438,363 $ 586,119 $0
-------------------------------------------------------------------------------------------------------------------------
5. INVENTORY $4,135,448 $4,585,650 $4,517,885 $0
-------------------------------------------------------------------------------------------------------------------------
6. NOTES RECEIVABLE $ 0 $ 0 $ 0 $0
-------------------------------------------------------------------------------------------------------------------------
7. PREPAID EXPENSES $ 0 $ 0 $ 0 $0
-------------------------------------------------------------------------------------------------------------------------
8. OTHER (ATTACH LIST) $ 30,000 ($684,603) ($664,710) $0
-------------------------------------------------------------------------------------------------------------------------
9. TOTAL CURRENT ASSETS $5,034,360 $4,640,591 $4,793,141 $0
-------------------------------------------------------------------------------------------------------------------------
10. PROPERTY, PLANT & EQUIPMENT $ 474,012 $ 612,929 $ 612,929 $0
-------------------------------------------------------------------------------------------------------------------------
11. LESS: ACCUMULATED
DEPRECIATION/DEPLETION $ 0 $ 156,253 $ 160,691 $0
-------------------------------------------------------------------------------------------------------------------------
12. NET PROPERTY, PLANT &
EQUIPMENT $ 474,012 $ 456,676 $ 452,238 $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 $5,097,267 $5,245,379 $0
-------------------------------------------------------------------------------------------------------------------------
POSTPETITION LIABILITIES
-------------------------------------------------------------------------------------------------------------------------
17. ACCOUNTS PAYABLE $ 29,765 $ 8,941 $0
-------------------------------------------------------------------------------------------------------------------------
18. TAXES PAYABLE $ 7,872 $ 7,872 $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 $ 37,637 $ 16,813 $0
-------------------------------------------------------------------------------------------------------------------------
PREPETITION LIABILITIES
-------------------------------------------------------------------------------------------------------------------------
24. SECURED DEBT $ 0 $ 0 $ 0 $0
-------------------------------------------------------------------------------------------------------------------------
25. PRIORITY DEBT $ 28,268 $ 0 $ 0 $0
-------------------------------------------------------------------------------------------------------------------------
26. UNSECURED DEBT $ 493,554 $ 522,197 $ 522,197 $0
-------------------------------------------------------------------------------------------------------------------------
27. OTHER (ATTACH LIST) $ 0 $ 0 $ 0 $0
-------------------------------------------------------------------------------------------------------------------------
28. TOTAL PREPETITION LIABILITIES $ 521,822 $ 522,197 $ 522,197 $0
-------------------------------------------------------------------------------------------------------------------------
29. TOTAL LIABILITIES $ 521,822 $ 559,834 $ 539,010 $0
-------------------------------------------------------------------------------------------------------------------------
EQUITY
-------------------------------------------------------------------------------------------------------------------------
30. PREPETITION OWNERS' EQUITY $3,790,619 $3,790,619 $0
-------------------------------------------------------------------------------------------------------------------------
31. POSTPETITION CUMULATIVE
PROFIT OR (LOSS) $ 746,814 $ 915,750 $0
-------------------------------------------------------------------------------------------------------------------------
32. DIRECT CHARGES TO EQUITY
(ATTACH EXPLANATION)
-------------------------------------------------------------------------------------------------------------------------
33. TOTAL EQUITY $ 0 $4,537,433 $4,706,369 $0
-------------------------------------------------------------------------------------------------------------------------
34. TOTAL LIABILITIES &
OWNERS' EQUITY $ 521,822 $5,097,267 $5,245,379 $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 July 2001 August 2001 TOTAL
-----------------------------------------------------------------------------------------------------------------------
1. GROSS REVENUES $215,392 $431,510 $0 $646,902
-----------------------------------------------------------------------------------------------------------------------
2. LESS: RETURNS & DISCOUNTS $ 0 $ 0 $0 $ 0
-----------------------------------------------------------------------------------------------------------------------
3. NET REVENUE $215,392 $431,510 $0 $646,902
-----------------------------------------------------------------------------------------------------------------------
COST OF GOODS SOLD
-----------------------------------------------------------------------------------------------------------------------
4. MATERIAL $103,904 $167,277 $0 $271,181
-----------------------------------------------------------------------------------------------------------------------
5. DIRECT LABOR $ 40,763 $ 41,622 $0 $ 82,385
-----------------------------------------------------------------------------------------------------------------------
6. DIRECT OVERHEAD $ 4,010 $ 7,578 $0 $ 11,588
-----------------------------------------------------------------------------------------------------------------------
7. TOTAL COST OF GOODS SOLD $148,677 $216,477 $0 $365,154
-----------------------------------------------------------------------------------------------------------------------
8. GROSS PROFIT $ 66,715 $215,033 $0 $281,748
-----------------------------------------------------------------------------------------------------------------------
OPERATING EXPENSES
-----------------------------------------------------------------------------------------------------------------------
9. OFFICER/INSIDER COMPENSATION $ 4,615 $ 4,615 $0 $ 9,230
-----------------------------------------------------------------------------------------------------------------------
10. SELLING & MARKETING $ 667 $ 291 $0 $ 958
-----------------------------------------------------------------------------------------------------------------------
11. GENERAL & ADMINISTRATIVE $ 32,969 $ 33,634 $0 $ 66,603
-----------------------------------------------------------------------------------------------------------------------
12. RENT & LEASE $ 3,019 $ 3,119 $0 $ 6,138
-----------------------------------------------------------------------------------------------------------------------
13. OTHER (ATTACH LIST) ($1,142) $ 0 $0 ($1,142)
-----------------------------------------------------------------------------------------------------------------------
14. TOTAL OPERATING EXPENSES $ 40,128 $ 41,659 $0 $ 81,787
-----------------------------------------------------------------------------------------------------------------------
15. INCOME BEFORE NON-OPERATING
INCOME & EXPENSE $ 26,587 $173,374 $0 $199,961
-----------------------------------------------------------------------------------------------------------------------
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 $ 4,438 $ 4,438 $0 $ 8,876
-----------------------------------------------------------------------------------------------------------------------
20. AMORTIZATION $ 0 $ 0 $0 $ 0
-----------------------------------------------------------------------------------------------------------------------
21. OTHER (ATTACH LIST) $ 0 $ 0 $0 $ 0
-----------------------------------------------------------------------------------------------------------------------
22. NET OTHER INCOME & EXPENSES $ 4,438 $ 4,438 $0 $ 8,876
-----------------------------------------------------------------------------------------------------------------------
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) $ 22,149 $168,936 $0 $191,085
-----------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Monthly Operating Report
----------------------------------------
CASE NAME: OK Turbines, Inc. ACCRUAL BASIS-3
----------------------------------------
----------------------------------------
CASE NUMBER: 400-42146-BJH-11 02/13/95, RWD, 2/96
----------------------------------------
-------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH QUARTER
----------------------------------------------------
DISBURSEMENTS July 2001 August 2001 TOTAL
-------------------------------------------------------------------------------------------------------------------
1. CASH - BEGINNING OF MONTH $295,494 $301,181 $0 $295,494
-------------------------------------------------------------------------------------------------------------------
RECEIPTS FROM OPERATIONS
-------------------------------------------------------------------------------------------------------------------
2. CASH SALES $ 0 $ 0 $0 $ 0
-------------------------------------------------------------------------------------------------------------------
COLLECTION OF ACCOUNTS RECEIVABLE
-------------------------------------------------------------------------------------------------------------------
3. PREPETITION $ 500 $ 0 $0 $ 500
-------------------------------------------------------------------------------------------------------------------
4. POSTPETITION $315,010 $297,178 $0 $612,188
-------------------------------------------------------------------------------------------------------------------
5. TOTAL OPERATING RECEIPTS $315,510 $297,178 $0 $612,688
-------------------------------------------------------------------------------------------------------------------
NON - OPERATING RECEIPTS
-------------------------------------------------------------------------------------------------------------------
6. LOANS & ADVANCES (ATTACH LIST) $ 0 $ 0 $0 $ 0
-------------------------------------------------------------------------------------------------------------------
7. SALE OF ASSETS $ 0 $ 0 $0 $ 0
-------------------------------------------------------------------------------------------------------------------
8. OTHER (ATTACH LIST) $ 1,163 $ 327 $0 $ 1,490
-------------------------------------------------------------------------------------------------------------------
9. TOTAL NON-OPERATING RECEIPTS $ 1,163 $ 327 $0 $ 1,490
-------------------------------------------------------------------------------------------------------------------
10. TOTAL RECEIPTS $316,673 $297,505 $0 $614,178
-------------------------------------------------------------------------------------------------------------------
11. TOTAL CASH AVAILABLE $612,167 $598,686 $0 $909,672
-------------------------------------------------------------------------------------------------------------------
OPERATING DISBURSEMENTS
-------------------------------------------------------------------------------------------------------------------
12. NET PAYROLL $109,875 $ 44,499 $0 $154,374
-------------------------------------------------------------------------------------------------------------------
13. PAYROLL TAXES PAID $ 8,303 $ 3,377 $0 $ 11,680
-------------------------------------------------------------------------------------------------------------------
14. SALES, USE & OTHER TAXES PAID $ 0 $ 8,116 $0 $ 8,116
-------------------------------------------------------------------------------------------------------------------
15. SECURED / RENTAL / LEASES $ 2,944 $ 3,121 $0 $ 6,065
-------------------------------------------------------------------------------------------------------------------
16. UTILITIES $ 3,090 $ 4,650 $0 $ 7,740
-------------------------------------------------------------------------------------------------------------------
17. INSURANCE $ 0 $ 0 $0 $ 0
-------------------------------------------------------------------------------------------------------------------
18. INVENTORY PURCHASES $ 95,817 $ 75,062 $0 $170,879
-------------------------------------------------------------------------------------------------------------------
19. VEHICLE EXPENSES $ 0 $ 0 $0 $ 0
-------------------------------------------------------------------------------------------------------------------
20. TRAVEL $ 13 $ 3,758 $0 $ 3,771
-------------------------------------------------------------------------------------------------------------------
21. ENTERTAINMENT $ 229 $ 161 $0 $ 390
-------------------------------------------------------------------------------------------------------------------
22. REPAIRS & MAINTENANCE $ 65,540 $ 66,595 $0 $132,135
-------------------------------------------------------------------------------------------------------------------
23. SUPPLIES $ 4,122 $ 2,047 $0 $ 6,169
-------------------------------------------------------------------------------------------------------------------
24. ADVERTISING $ 499 $ 679 $0 $ 1,178
-------------------------------------------------------------------------------------------------------------------
25. OTHER (ATTACH LIST) $ 16,804 $ 32,774 $0 $ 49,578
-------------------------------------------------------------------------------------------------------------------
26. TOTAL OPERATING DISBURSEMENTS $307,236 $244,839 $0 $552,075
-------------------------------------------------------------------------------------------------------------------
REORGANIZATION EXPENSES
-------------------------------------------------------------------------------------------------------------------
27. PROFESSIONAL FEES $ 0 $ 0 $0 $ 0
-------------------------------------------------------------------------------------------------------------------
28. U.S. TRUSTEE FEES $ 3,750 $ 0 $0 $ 3,750
-------------------------------------------------------------------------------------------------------------------
29. OTHER (ATTACH LIST) $ 0 $ 0 $0 $ 0
-------------------------------------------------------------------------------------------------------------------
30. TOTAL REORGANIZATION EXPENSES $ 3,750 $ 0 $0 $ 3,750
-------------------------------------------------------------------------------------------------------------------
31. TOTAL DISBURSEMENTS $310,986 $244,839 $0 $555,825
-------------------------------------------------------------------------------------------------------------------
32. NET CASH FLOW $ 5,687 $ 52,666 $0 $ 58,353
-------------------------------------------------------------------------------------------------------------------
33. CASH - END OF MONTH $301,181 $353,847 $0 $353,847
-------------------------------------------------------------------------------------------------------------------
================================================================================
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
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 July 2001 August 2001
-----------------------------------------------------------------------------------------------------------------
1. 0-30 $154,930 $286,813 $0
-----------------------------------------------------------------------------------------------------------------
2. 31-60 $110,778 $ 96,640 $0
-----------------------------------------------------------------------------------------------------------------
3. 61-90 $ 41,567 $ 54,035 $0
-----------------------------------------------------------------------------------------------------------------
4. 91+ $131,088 $148,631 $0
-----------------------------------------------------------------------------------------------------------------
5. TOTAL ACCOUNTS RECEIVABLE $0 $438,363 $586,119 $0
-----------------------------------------------------------------------------------------------------------------
6. AMOUNT CONSIDERED UNCOLLECTIBLE $ 0 $ 0 $0
-----------------------------------------------------------------------------------------------------------------
7. ACCOUNTS RECEIVABLE (NET) $0 $438,363 $586,119 $0
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------
AGING OF POSTPETITION TAXES AND PAYABLES MONTH: August 2001
-------------------
-------------------------------------------------------------------------------------------------------------------
0-30 31-60 61-90 91+
TAXES PAYABLE DAYS DAYS DAYS DAYS TOTAL
-------------------------------------------------------------------------------------------------------------------
1. FEDERAL $ 0 $0 $0 $0 $ 0
-------------------------------------------------------------------------------------------------------------------
2. STATE $7,871 $0 $0 $0 $7,871
-------------------------------------------------------------------------------------------------------------------
3. LOCAL $ 0 $0 $0 $0 $ 0
-------------------------------------------------------------------------------------------------------------------
4. OTHER (ATTACH LIST) $ 0 $0 $0 $0 $ 0
-------------------------------------------------------------------------------------------------------------------
5. TOTAL TAXES PAYABLE $7,871 $0 $0 $0 $7,871
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
6. ACCOUNTS PAYABLE $8,941 $0 $0 $0 $8,941
-------------------------------------------------------------------------------------------------------------------
---------------------------------------
STATUS OF POSTPETITION TAXES MONTH: August 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 $7,871 $0 $0 $7,871
------------------------------------------------------------------------------------------------------------------
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 $7,871 $0 $0 $7,871
------------------------------------------------------------------------------------------------------------------
16. TOTAL TAXES $7,871 $0 $0 $7,871
------------------------------------------------------------------------------------------------------------------
* 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: August 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 $377,958 $0 $0 $377,958
------------------------------------------------------------------------------------------------------------------------------------
2. ADD: TOTAL DEPOSITS NOT CREDITED $ 0 $0 $0 $ 0
------------------------------------------------------------------------------------------------------------------------------------
3. SUBTRACT: OUTSTANDING CHECKS $ 24,258 $0 $0 $ 24,258
------------------------------------------------------------------------------------------------------------------------------------
4. OTHER RECONCILING ITEMS $ 0 $0 $0 $ 0
------------------------------------------------------------------------------------------------------------------------------------
5. MONTH END BALANCE PER BOOKS $353,700 $0 $0 $353,700
------------------------------------------------------------------------------------------------------------------------------------
6. NUMBER OF LAST CHECK WRITTEN 6741 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 $ 147
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
13. TOTAL CASH - END OF MONTH $353,847
------------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Monthly Operating Report
-----------------------------------------
CASE NAME: OK Turbines, Inc. ACCRUAL BASIS-6
-----------------------------------------
-----------------------------------------
CASE NUMBER: 400-42146-BJH-11 02/13/95, RWD, 2/96
-----------------------------------------
MONTH: August 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 $ 0 $ 28,486
--------------------------------------------------------------------------------
2. GREGG NIMMO Salary $4,615 $100,672
--------------------------------------------------------------------------------
3.
--------------------------------------------------------------------------------
4.
--------------------------------------------------------------------------------
5.
--------------------------------------------------------------------------------
6. TOTAL PAYMENTS
TO INSIDERS $4,615 $129,158
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
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. City of Hollister - Building Rent $2,395 $2,334 $0
-----------------------------------------------------------------------------------------------
2. Other various $ 786 $0
-----------------------------------------------------------------------------------------------
3. N/A
-----------------------------------------------------------------------------------------------
4. N/A
-----------------------------------------------------------------------------------------------
5. N/A
-----------------------------------------------------------------------------------------------
6. TOTAL $2,395 $3,120 $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: August 2001
-----------------
--------------------------
QUESTIONNAIRE
---------------------------------------------------------------------------------------------------------------------
YES NO
---------------------------------------------------------------------------------------------------------------------
1. HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE
THE NORMAL COURSE OF BUSINESS THIS REPORTING PERSON? 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. FOOTNOTES SUPPLEMENT
-------------------------------------
-------------------------------------
CASE NUMBER: 400-42146-BJH-11 ACCRUAL BASIS
-------------------------------------
MONTH: August 2001
-------------------
------------------------------------------------------------------------------------------------------------------
ACCRUAL BASIS FORM NUMBER LINE NUMBER FOOTNOTE / EXPLANATION
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
3 12 All payroll is paid out of Kitty Hawk Charters, Inc. (Case #400-
------------------------------------------------------------------------------------------------------------------
13 42142) and allocated to the Company. Related payroll
------------------------------------------------------------------------------------------------------------------
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.
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
==================================================================================================================
CASE NAME: OK Turbines, Inc.
CASE NUMBER: 400-42146-BJH-11
Details of Other Items
ACCRUAL BASIS-1 August 2001
8. OTHER (ATTACH LIST) $ (664,710)Reported
----------------
Intercompany Receivables (739,909)
Misc 1,750
Security Deposit 73,449
----------------
(664,710)Detail
----------------
- Difference
ACCRUAL BASIS-2
13. OTHER (ATTACH LIST) $ - Reported
----------------
Bad Debt expense (1,142)
----------------
(1,142)Detail
----------------
1,142 Difference
ACCRUAL BASIS-3
8. OTHER (ATTACH LIST) $ 327 Reported
----------------
Recover NSF -
Refunds 327
----------------
327 Detail
----------------
- Difference
25. OTHER (ATTACH LIST) 32,774 Reported
----------------
Freight 12,194
Fuel 1,425
Outside Services 5,030
Petty Cash 5
Refunds 8,169
Subscription 5,951
----------------
32,774 Detail
----------------
- Difference
EX-99.7
9
dex997.txt
MONTHLY OPERATING REPORT FOR LONGHORN SOLUTIONS
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: AUGUST 31, 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 9/20/01
------------------------------------------- -------------------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
/s/ Jessica L. Wilson Chief Accounting Officer
------------------------------------------- -------------------------
ORIGINAL SIGNATURE OF PREPARER TITLE
Jessica L. Wilson 9/20/2001
------------------------------------------- -------------------------
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
-----------------------------------------------------------------------------------------------------------------
SCHEDULE MONTH MONTH MONTH
--------------------------------------------------------
ASSETS AMOUNT July 2001 August 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 $ 755,288 $ 755,288 $ 0
-----------------------------------------------------------------------------------------------------------------
9. TOTAL CURRENT ASSETS $ 454,785 $ 758,889 $ 758,889 $ 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 $3,481,987 $3,481,987 $ 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) ($500) ($500) $ 0
-----------------------------------------------------------------------------------------------------------------
32. DIRECT CHARGES TO EQUITY
(ATTACH EXPLANATION)
-----------------------------------------------------------------------------------------------------------------
33. TOTAL EQUITY $ 0 $2,193,761 $2,193,761 $ 0
-----------------------------------------------------------------------------------------------------------------
34. TOTAL LIABILITIES &
OWNERS' EQUITY $ 141,957 $3,481,987 $3,481,987 $ 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 July 2001 August 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
----------------------------------------
---------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH QUARTER
-------------------------------------------------
DISBURSEMENTS July 2001 August 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 July 2001 August 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: August 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: August 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: August 2001
----------------------------------------- ---------------------------------------------------------------
BANK RECONCILIATIONS
Account #1 Account #2 Account #3
-------------------------------------------------------------------------------------------------------------------------------
A. BANK: Bank One Mid-Cities
--------------------------------------------------------------------------------------------------------------
B. ACCOUNT NUMBER: 1586267807 4235800 TOTAL
--------------------------------------------------------------------------------------------------------------
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: August 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: August 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. FOOTNOTES SUPPLEMENT
-----------------------------------------------
-----------------------------------------------
CASE NUMBER: 400-42147-BJH-11 ACCRUAL BASIS
-----------------------------------------------
MONTH: August 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.
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
CASE NAME: Longhorn Solutions, Inc.
CASE NUMBER: 400-42147-BJH-11
Details of Other Items
ACCRUAL BASIS-1 August 2001
8. OTHER (ATTACH LIST) $ 755,288 Reported
-------------
Intercompany Receivables 715,623
Deferred Taxes 36,717
Security Deposit 2,948
-------------
755,288 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
EX-99.8
10
dex998.txt
MONTHLY OPERATING REPORT FOR AIRCRAFT LEASING
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: AUGUST 31, 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 9/20/2001
------------------------------------------------ -----------------------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
/s/ Kevin K. Craig CONTROLLER, KITTY HAWK INC.
------------------------------------------------ -----------------------------
ORIGINAL SIGNATURE OF PREPARER TITLE
KEVIN K. CRAIG 9/20/2001
------------------------------------------------ -----------------------------
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 JULY, 2001 AUGUST, 2001
---------------------------------------------------------------------------------------------------------------------
1. UNRESTRICTED CASH $ 0 $ 0 $ 0 $ 0
---------------------------------------------------------------------------------------------------------------------
2. RESTRICTED CASH $ 0 $ 324,185 $ 212,514 $ 0
---------------------------------------------------------------------------------------------------------------------
3. TOTAL CASH $ 0 $ 324,185 $ 212,514 $ 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) ($6,542,023) ($5,020,650) $ 0
---------------------------------------------------------------------------------------------------------------------
9. TOTAL CURRENT ASSETS ($33,904,344) ($6,217,838) ($4,808,136) $ 0
---------------------------------------------------------------------------------------------------------------------
10. PROPERTY, PLANT & EQUIPMENT $ 81,907,719 $ 65,781,639 $ 59,410,269 $ 0
---------------------------------------------------------------------------------------------------------------------
11. LESS: ACCUMULATED
DEPRECIATION / DEPLETION $ 33,669,772 $ 31,039,548 $ 31,319,613 $ 0
---------------------------------------------------------------------------------------------------------------------
12. NET PROPERTY, PLANT &
EQUIPMENT $ 48,237,946 $ 34,742,091 $ 28,090,656 $ 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 $ 14,333,602 $ 28,524,253 $ 23,282,520 $ 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) $ 5,334,221 $ 3,237,528 $ 0
---------------------------------------------------------------------------------------------------------------------
23. TOTAL POSTPETITION
LIABILITIES $ 5,334,221 $ 3,237,528 $ 0
---------------------------------------------------------------------------------------------------------------------
PREPETITION LIABILITIES
---------------------------------------------------------------------------------------------------------------------
24. SECURED DEBT $ 2,811,382 $ 0 $ 0 $ 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 $ 2,399,516 $ 2,399,516 $ 0
---------------------------------------------------------------------------------------------------------------------
29. TOTAL LIABILITIES $ 4,111,383 $ 7,733,737 $ 5,637,044 $ 0
---------------------------------------------------------------------------------------------------------------------
EQUITY
---------------------------------------------------------------------------------------------------------------------
30. PREPETITION OWNERS' EQUITY $ 0 $ 12,789,185 $ 12,789,185 $ 0
---------------------------------------------------------------------------------------------------------------------
31. POSTPETITION CUMULATIVE
PROFIT OR (LOSS) $ 8,001,331 $ 4,856,291 $ 0
---------------------------------------------------------------------------------------------------------------------
32. DIRECT CHARGES TO EQUITY
(ATTACH EXPLANATION) $ 0
---------------------------------------------------------------------------------------------------------------------
33. TOTAL EQUITY $ 0 $ 20,790,516 $ 17,645,476 $ 0
---------------------------------------------------------------------------------------------------------------------
34. TOTAL LIABILITIES &
OWNERS' EQUITY $ 4,111,383 $ 28,524,253 $ 23,282,520 $ 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 JULY, 2001 AUGUST, 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 $5,736,370 $0 $5,736,370
------------------------------------------------------------------------------------------------------------------------
14. TOTAL OPERATING EXPENSES $0 $5,736,370 $0 $5,736,370
------------------------------------------------------------------------------------------------------------------------
15. INCOME BEFORE NON-OPERATING
INCOME & EXPENSE $969,000 ($4,767,370) $0 ($3,798,370)
------------------------------------------------------------------------------------------------------------------------
OTHER INCOME & EXPENSES
------------------------------------------------------------------------------------------------------------------------
16. NON-OPERATING INCOME (ATT. LIST) ($870) ($1,137) $0 ($2,007)
------------------------------------------------------------------------------------------------------------------------
17. NON-OPERATING EXPENSE (ATT. LIST) $0 $0 $0 $0
------------------------------------------------------------------------------------------------------------------------
18. INTEREST EXPENSE $0 $0 $0 $0
------------------------------------------------------------------------------------------------------------------------
19. DEPRECIATION / DEPLETION $439,564 $439,565 $0 $879,129
------------------------------------------------------------------------------------------------------------------------
20. AMORTIZATION $0 $0 $0 $0
------------------------------------------------------------------------------------------------------------------------
21. OTHER (ATTACH LIST) ($439,564) $35,935 $0 ($403,629)
------------------------------------------------------------------------------------------------------------------------
22. NET OTHER INCOME & EXPENSES ($870) $474,363 $0 $473,493
------------------------------------------------------------------------------------------------------------------------
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 $387,948 ($2,096,693) $0 ($1,708,745)
------------------------------------------------------------------------------------------------------------------------
28. NET PROFIT (LOSS) $581,922 ($3,145,040) $0 ($2,563,118)
------------------------------------------------------------------------------------------------------------------------
$0 $0 $0
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Monthly Operating Report
---------------------------------------------
CASE NAME: AIRCRAFT LEASING, INC. ACCRUAL BASIS-3
---------------------------------------------
---------------------------------------------
CASE NUMBER: 400-42148-BJH-11 02/13/95, RWD, 2/96
---------------------------------------------
------------------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH QUARTER
--------------------------------------------------
DISBURSEMENTS JULY, 2001 AUGUST, 2001 TOTAL
------------------------------------------------------------------------------------------------------------------------
1. CASH - BEGINNING OF MONTH $455,714 $324,185 $212,514 $455,714
------------------------------------------------------------------------------------------------------------------------
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) $870 $251,137 $0 $252,007
------------------------------------------------------------------------------------------------------------------------
9. TOTAL NON-OPERATING RECEIPTS $870 $251,137 $0 $252,007
------------------------------------------------------------------------------------------------------------------------
10. TOTAL RECEIPTS $870 $251,137 $0 $252,007
------------------------------------------------------------------------------------------------------------------------
11. TOTAL CASH AVAILABLE $456,584 $575,322 $212,514 $707,721
------------------------------------------------------------------------------------------------------------------------
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 $132,399 $362,808 $0 $495,207
------------------------------------------------------------------------------------------------------------------------
28. U.S. TRUSTEE FEES $0 $0 $0 $0
------------------------------------------------------------------------------------------------------------------------
29. OTHER (ATTACH LIST) $0 $0 $0 $0
------------------------------------------------------------------------------------------------------------------------
30. TOTAL REORGANIZATION EXPENSES $132,399 $362,808 $0 $495,207
------------------------------------------------------------------------------------------------------------------------
31. TOTAL DISBURSEMENTS $132,399 $362,808 $0 $495,207
------------------------------------------------------------------------------------------------------------------------
32. NET CASH FLOW ($131,529) ($111,671) $0 ($243,200)
------------------------------------------------------------------------------------------------------------------------
33. CASH - END OF MONTH $324,185 $212,514 $212,514 $212,514
------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
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 JULY, 2001 AUGUST, 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: AUGUST, 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: AUGUST, 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: AUGUST, 2001
------------------------------------------ -------------------
BANK RECONCILIATIONS
-------------------------------------------------------------------------------------------------------------------
Account #1 Account #2 Account #3
-------------------------------------------------------------------------------------------------------------------
A. BANK:
--------------------------------------------------------------------------------------------------
B. ACCOUNT NUMBER: TOTAL
---------------------------------------------------------------------------------------------------
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
BANK, ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE
-------------------------------------------------------------------------------------------------------------------
7. BANK ONE TRUST (ESCROW) 6801456800* 1/3/2000 MONEY MARKET $3,625,000 $0
-------------------------------------------------------------------------------------------------------------------
8. HSBC Bank USA (ESCROW) #10-876110 6/19/2000 MONEY MARKET $3,560,463 $212,514
-------------------------------------------------------------------------------------------------------------------
9.
-------------------------------------------------------------------------------------------------------------------
10.
-------------------------------------------------------------------------------------------------------------------
11. TOTAL INVESTMENTS $212,514
-------------------------------------------------------------------------------------------------------------------
-----------------------------------------------
CASH
-------------------------------------------------------------------------------------------------------------------
12. CURRENCY ON HAND $0
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
13. TOTAL CASH - END OF MONTH $212,514
-------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Monthly Operating Report
----------------------------------------
CASE NAME: AIRCRAFT LEASING, INC. ACCRUAL BASIS-6
----------------------------------------
----------------------------------------
CASE NUMBER: 400-42148-BJH-11 02/13/95, RWD, 2/96
----------------------------------------
MONTH: AUGUST, 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: AUGUST, 2001
------------
--------------------------------------
QUESTIONNAIRE
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
YES NO
-------------------------------------------------------------------------------------------------------------------------------
1. HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF X
BUSINESS THIS REPORTING PERIOD?
-------------------------------------------------------------------------------------------------------------------------------
2. HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN X
POSSESSION ACCOUNT?
-------------------------------------------------------------------------------------------------------------------------------
3. ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM X
RELATED PARTIES?
-------------------------------------------------------------------------------------------------------------------------------
4. HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING X
PERIOD?
-------------------------------------------------------------------------------------------------------------------------------
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) $475,500 Loss on Sale of Engines; see notes on KHAirCargo Case #400-42142-BJH-11 for balance of transaction
-------------------------------------------------------------------------------------------------------------------------------
a) $362,808 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 X
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: AIRCRAFT LEASING, INC. FOOTNOTES SUPPLEMENT
---------------------------------------------
---------------------------------------------
CASE NUMBER: 400-42148-BJH-11 ACCRUAL BASIS
---------------------------------------------
MONTH: AUGUST, 2001
------------------------
--------------------------------------------------------------------------------
ACCRUAL BASIS LINE
FORM NUMBER NUMBER FOOTNOTE / EXPLANATION
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
2 13 SFAS 121 Writedown of $5,736,370 of Assets, due to
--------------------------------------------------------------------------------
USPS W-Net cancellation
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
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: AUGUST, 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) ($5,070,650) Intercompany Cummulative Receivable/Payable Credit Balance
1 - BS 22 a) $3,237,528 Accrued Federal Income Taxes (Post-petition)
1 - BS 27 a) $2,399,516 Accrued Taxes Payable (Pre-petition)
2 - IS 13 a) $5,736,370 SFAS 121 Write-down of Assets, due to USPS W-Net cancellation
2 - IS 16 a) $1,137 Interest Income (from HSBC -Escrow account)
2 - IS 21 a) ($439,565) Credit for Allocation of A/C Costs to KH Cargo (vs I/C)
b) $475,500 Loss on Sale of Engines
3 - CF 8 a) $1,137 Interest Income (from HSBC-Escrow account)
b) $250,000 I/C Transfer to HSBC-Escrow account from KH Int'l Sale Procedes account
4 - AP T6 a) Federal Income Taxes are now shown as Other Accrued Liabilities (due to deferred tax credits)
7 - QA 2 a) $362,808 Disbursement to Successor Trustee of (HSBC-Escrow) account for Professional Fees, Transfer to KH
Inc & KH Int'l
--------------------------------------------------------------------------------
EX-99.9
11
dex999.txt
MONTHLY OPERATING REPORT FOR AMERICAN INT'L
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: AUGUST 31, 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 9/20/2001
--------------------------------------- --------------------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
/s/ Jessica L. Wilson Chief Accounting Officer
--------------------------------------- --------------------------
ORIGINAL SIGNATURE OF PREPARER TITLE
Jessica L. Wilson 9/20/2001
--------------------------------------- --------------------------
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 July 2001 August 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) ($440,079) ($440,079) $0
-----------------------------------------------------------------------------------------------------------------
9. TOTAL CURRENT ASSETS $ 64,520 ($440,079) ($440,079) $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 ($440,079) ($440,079) $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) $ 3,975 $ 3,975 $0
-----------------------------------------------------------------------------------------------------------------
32. DIRECT CHARGES TO EQUITY
(ATTACH EXPLANATION)
-----------------------------------------------------------------------------------------------------------------
33. TOTAL EQUITY $ 0 ($355,188) ($355,188) $0
-----------------------------------------------------------------------------------------------------------------
34. TOTAL LIABILITIES &
OWNERS' EQUITY $530,138 ($440,079) ($440,079) $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 July 2001 August 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 July 2001 August 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 02/13/95, RWD, 2/96
-------------------------------------------------
---------------------------------------------------------------------------------------------------------------
SCHEDULE MONTH MONTH MONTH
------------------------------------------------
ACCOUNTS RECEIVABLE AGING AMOUNT July 2001 August 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: August 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: August 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: 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: August 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: August 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: August 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. FOOTNOTES SUPPLEMENT
------------------------------------------------
------------------------------------------------
CASE NUMBER: 400-42149-BJH-11 ACCRUAL BASIS
------------------------------------------------
MONTH: August 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
------------------------------------------------------------------------------------------------------------------
consist 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)
------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
CASE NAME: American International Travel, Inc.
CASE NUMBER: 400-42149-BJH-11
Details of Other Items
ACCRUAL BASIS-1 August 2001
8. OTHER (ATTACH LIST) (440,079) Reported
----------------
Intercompany Settlements 342
A/R KH International (246,860)
CDI Inter-divisional Balancing (196,142)
CDI - Debit/Credit Transfer 2,581
----------------
(440,079) Detail
----------------
- Difference
EX-99.10
12
dex9910.txt
MONTHLY OPERATING REPORT FOR FLIGHT ONE LOGISTICS
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: AUGUST 31, 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 9/20/2001
---------------------------------------- ----------------------------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
/s/ Jessica L. Wilson Chief Accounting Officer
---------------------------------------- ----------------------------------
ORIGINAL SIGNATURE OF PREPARER TITLE
Jessica L. Wilson 9/20/2001
---------------------------------------- ----------------------------------
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
-----------------------------------------------------------------------
ASSETS AMOUNT July 2001 August 2001
------------------------------------------------------------------------------------------------------------------------------------
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 $ 194 $ 194 $ 0
------------------------------------------------------------------------------------------------------------------------------------
9. TOTAL CURRENT ASSETS $39,149 $20,936 $20,936 $ 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 $20,936 $20,936 $ 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) ($ 1,280) ($ 1,280) $ 0
------------------------------------------------------------------------------------------------------------------------------------
32. DIRECT CHARGES TO EQUITY
(ATTACH EXPLANATION) $ 0
------------------------------------------------------------------------------------------------------------------------------------
33. TOTAL EQUITY $ 0 $37,676 $37,676 $ 0
------------------------------------------------------------------------------------------------------------------------------------
34. TOTAL LIABILITIES &
OWNERS' EQUITY $ 0 $20,936 $20,936 $ 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 July 2001 August 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
-----------------------------------------------
----------------------------------------------------------------------------------------------------------------
CASH RECEIPTS AND MONTH MONTH MONTH QUARTER
-------------------------------------------------------
DISBURSEMENTS July 2001 August 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 July 2001 August 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: August 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: August 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: August 2001
----------------------------
-------------------------------------------------
BANK RECONCILIATIONS
Account #1 Account #2 Account #3
--------------------------------------------------------------------------------------------------------------------------------
A. BANK: N/A
-------------------------------------------------
B. ACCOUNT NUMBER: N/A TOTAL
-------------------------------------------------
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: August 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: August 2001
---------------------
---------------------------------------------------
QUESTIONNAIRE
---------------------------------------------------------------------------------------------------------
YES NO
---------------------------------------------------------------------------------------------------------
1. HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE
THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD?
---------------------------------------------------------------------------------------------------------
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.
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. FOOTNOTES SUPPLEMENT
-------------------------------------------------
-------------------------------------------------
CASE NUMBER: 400-42069-BJH ACCRUAL BASIS
-------------------------------------------------
MONTH: August 2001
-----------------
------------------------------------------------------------------------------------------------------------------
ACCRUAL BASIS LINE
FORM NUMBER 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)
------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
CASE NAME: Flight One Logistics, Inc.
CASE NUMBER: 400-42069-BJH
Details of Other Items
ACCRUAL BASIS-1 August 2001
8. OTHER (ATTACH LIST) $ 194 Reported
---------------
Intercompany Receivables 194 Detail
---------------
- Difference