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