Attached files
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| 8-K - NEWPOWER HOLDINGS INC | efc10-773_8k.htm |
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UNITED STATES BANKRUPTCY COURT
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NORTHERN DISTRICT OF GEORGIA
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NEWNAN DIVISION
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Exhibit 99.1 | ||||||
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CASE NUMBER
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}
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02-10835
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}
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The NewPower Company, et. al.
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}
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JUDGE
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W. Homer Drake, Jr.
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}
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DEBTORS
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}
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CHAPTER 11
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DEBTOR’S MONTHLY FINANCIAL REPORTS (BUSINESS)
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FOR THE PERIOD
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8/31/2010 to 9/30/2010
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Comes now the above-named debtor and files its Periodic Financial Reports in accordance with the Guidelines established by the
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United States Trustee and FRBP 2015.
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Paul Ferdinands
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Attorney for Debtor
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Debtor’s Address
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Attorney’s Address
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and Phone Number
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and Phone Number
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P.O. Box 17296
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191 Peachtree St.
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Stamford, Ct 06907
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Atlanta, GA 30303
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Tel: (203) 329-8412
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Tel: (404) 572-4600
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NewPower Holdings, Inc.
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Case Number: 02-10835
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Post Petition
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Totals
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For Period from August 31, 2010 thru September 30, 2010
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Opening Cash Balance - 7/31/10
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$ 414
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Inflows:
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Customer Collections
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Collateral Returned
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-Sureties
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-Security Deposits
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Sale Proceeds/Interest Income/Other
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Total Inflows
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Distribution of Outflows
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Outflows:
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NewPower
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The NewPower
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Post Petition:
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Holdings, Inc.
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Company
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Professionals - Bankruptcy
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0
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0
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Consulting Fees
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Lockbox Fees
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1
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1
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Supplies & Misc
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0
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0
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Rent
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1
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1
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Insurance
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Utilities (Heat, Hydro, Phone, etc.)
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0
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0
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Payroll (inlcuding tax payments & fees)
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11
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11
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T&E Reimbursements
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State Tax Payments
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Distribution to Equity
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Total Outflows
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14
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14
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Net Cash Flows
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(14)
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Closing Cash Balance
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$ 400
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Attachment 1
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NewPower Holdings, Inc.
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Case Number: 02-10835
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Monthly Accounts Receivable Aging and Reconciliation
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For Period from August 31, 2010 thru September 30, 2010
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Amounts in $000’s
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Accounts Receivable at Petition Date:
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$
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75,200
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Beginning of Month Balance* - Gross
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$
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13,476
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(per 8/31/10 G/L)
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PLUS: Current Month New Billings
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-
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LESS: Collections During the Month
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-
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End of Month Balance - Gross
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$
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13,476
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(per 9/30/10 G/L)
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Allowance for Doubtful Accounts
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(13,476)
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End of Month Balance - Net of Allowance
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$ |
-
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Note:
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The accounts receivable aging below relates only to deliveries to
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customers subsequent to the June 11, 2002 petition date.
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AR Aging for Post Petition Receivables
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Current
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> 30 days
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> 60 days
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Total
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$ -
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$ -
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$ 111
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$ 111
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Attachment 2
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NewPower Holdings, Inc.
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Case Number: 02-10835
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Monthly Accounts Payable and Secured Payments Report
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For Period from August 31, 2010 thru September 30, 2010
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Amounts in $000’s
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See attached System Generated A/P reports as of 9/30/2010 (Attachments 2A and 2B).
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Beginning of Period Balance
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$ |
56
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(per 8/31/10 G/L)
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PLUS: New Indebtedness Incurred
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4
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LESS: Amounts Paid on A/P
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(4
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) | ||||
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End of Month Balance
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$ |
56
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(per 9/30/10 G/L)
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Exhibit 2A
The New Power Company
Vendor Balance Detail
As of September 30, 2010
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Type
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Date
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Amount
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Balance
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| Administrator Unemployment Compensation | 0.00 | |||||||||
| Bill | 09/06/2010 | 25.00 | 25.00 | |||||||
| Bill Pmt -Check | 09/06/2010 | -25.00 | 0.00 | |||||||
| Total Administrator Unemployment Compensation | 0.00 | 0.00 | ||||||||
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Arkadin, Inc.
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0.00
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Bill
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09/06/2010
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39.25
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39.25
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Bill Pmt -Check
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09/06/2010
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-39.25
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0.00
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Total Arkadin, Inc.
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0.00
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0.00
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AT&T
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0.00
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Bill
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09/06/2010
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158.61
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158.61
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Bill Pmt -Check
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09/06/2010
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-158.61
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0.00
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Total AT&T
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0.00
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0.00
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epiq Systems
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0.00
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Bill
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09/06/2010
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373.99
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373.99
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Bill Pmt -Check
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09/06/2010
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-373.99
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0.00
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Total epiq Systems
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0.00
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0.00
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| Iron Mountain Off-Site Data Protection | 0.00 | |||||||||
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Bill
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09/06/2010 | 621.90 | 621.90 | |||||||
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Bill Pmt -Check
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09/06/2010 | -621.90 | 0.00 | |||||||
| Total Iron Mountain Off-Site Data Protection | 0.00 | 0.00 | ||||||||
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JPMorgan Chase
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0.00
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Bill
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09/06/2010
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862.48
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862.48
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Bill Pmt -Check
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09/06/2010
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-862.48
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0.00
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Total JPMorgan Chase
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0.00
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0.00
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Kaster Moving Co. Inc.
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0.00
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Bill
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09/06/2010
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83.50
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83.50
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Bill Pmt -Check
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09/06/2010
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-83.50
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0.00
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Total Kaster Moving Co. Inc.
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0.00
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0.00
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Ms. Patricia Foster
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0.00
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Bill
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09/06/2010
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360.99
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360.99
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Bill Pmt -Check
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09/06/2010
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-360.99
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0.00
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Total Ms. Patricia Foster
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0.00
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0.00
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| Postmaster | 0.00 | |||||||||
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Bill
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09/06/2010 | 125.00 | 125.00 | |||||||
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Bill Pmt -Check
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09/06/2010 | -125.00 | 0.00 | |||||||
| Total Postmaster | 0.00 | 0.00 | ||||||||
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Steamatic of Connecticut
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0.00
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Bill
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09/06/2010
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1,116.06
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1,116.06
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Bill Pmt -Check
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09/06/2010
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-1,116.06
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0.00
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Total Steamatic of Connecticut
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0.00
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0.00
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TOTAL |
0.00 |
0.00 |
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Exhibit 2B
The New Power Company
Unpaid Vendor Balances
September 30, 2010
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Balance
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Franchise Tax Liability
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55,465.82
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Payroll Tax Liablility
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4,429.07
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59,894.89
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Attachment 3
NewPower Holdings, Inc.
Case Number: 02-10835
Inventroy and Fixed Assets Report
For Period from August 31, 2010 thru September 30, 2010
Amounts in $000's
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Inventory Report
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Inventory Balance at Petition Date
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$ 15,587
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Inventory at Beginning of Period
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$ -
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(per 8/31/10 G/L)
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PLUS: Inventrory Purchased
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-
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LESS: Inventory Used or Sold
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-
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End of Month Balance
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$ -
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(per 9/30/10 G/L)
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Inventory is generally costed at the lower of cost or market. By the end of July 2002 we had sold
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all of our gas inventory either to retail customers or financial buyers as part of our asset sales.
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Fixed Asset Report
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Book Value at Petition Date
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$ 1,238
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Our fixed assets at petition date consisted of office furniture and equipment. These assets
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were transferred to our lessor in June 2002 as part of the settlement of our lease obligation.
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Fixed Assets at Beginning of Period
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$ -
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Less: Depreciation Expense
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-
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Less: Dispositions
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-
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Add: Purchases
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-
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Fixed Assets at End of Period
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$ -
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Attachment 4
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Name of Debtor :
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NewPower Holdings Inc.
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Case # :
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02-10835
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Reporting Period:
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9/01/2010-9/30/2010
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Name of Bank:
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JP Morgan Chase
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Branch:
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New York ABA # 021000021
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Account Name:
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The New Power Company Concentration Account
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Account Number:
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Purpose of Account:
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Concentration Account
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Beginning Balance
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$ 15,871.48
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Total Deposits
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$ -
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Transfer from Money Market
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Total Payments
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$ 10,327.77
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Transfer to Manual Checking of
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Closing Balance
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$ 5,543.71
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Electronic Payments issued this Period
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Last Payment issued this Period
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Total # of payments this Period
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0
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Attachment 4
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Name of Debtor :
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NewPower Holdings Inc.
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Case # :
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02-10835
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Reporting Period:
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9/01/2010-9/30/2010
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Name of Bank:
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JP Morgan Chase
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Branch:
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New York ABA # 021000021
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Account Name:
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The New Power Company
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Account Number:
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Purpose of Account:
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Money Market
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Beginning Balance
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$ 410,231.03
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Total Deposits
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$ 16.62
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Interest Income
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Total Payments
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$ 3,499.74
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Payroll Taxes
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Closing Balance
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$ 406,747.91
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Service Charges
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$ -
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First Check issued this Period
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N/A
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Last Check issued this Period
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N/A
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Total # of checks issued this Period
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N/A
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Attachment 4
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Name of Debtor :
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NewPower Holdings Inc.
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Case # :
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02-10835
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Reporting Period:
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9/01/2010-9/30/2010
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||
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Name of Bank:
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JP Morgan Chase
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Branch:
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Syracuse, NY
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Account Name:
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The New Power Company
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Account Number:
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Purpose of Account:
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Controlled Disbursements (A/P)
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Beginning Balance
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$ 0.00
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Total Deposits
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$ 10,327.77
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Transfer from Concentration
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Total Payments
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$ (10,327.77)
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Closing Balance
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$ 0.00
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Service Charges
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N/A
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First Check issued this Period
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201346
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Last Check issued this Period
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201357
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Voided Checks
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1
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Total # of checks issued this Period
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11
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Exhibit 5
The New Power Company
Transactions by Account
As of September 30, 2010
Transactions by Account
As of September 30, 2010
| Date |
Num
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Name
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Amount
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|||
| 09/06/2010 |
wire
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United States Treasury
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3,499.74
|
|||
| 09/06/2010 |
201347
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CT Commissioner of Revenue Services
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504.16
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| 09/06/2010 |
201348
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Administrator Unemployment Compensation
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25.00
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|||
| 09/06/2010 |
201349
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Arkadin, Inc.
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39.25
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|||
| 09/06/2010 |
201350
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AT&T
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158.61
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|||
| 09/06/2010 |
201351
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epiq Systems
|
373.99
|
|||
| 09/06/2010 |
201352
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Iron Mountain Off-Site Data Protection |
621.90
|
|||
| 09/06/2010 |
201353
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JPMorgan Chase
|
862.48
|
|||
| 09/06/2010 |
201354
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Kaster Moving Co. Inc.
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83.50
|
|||
| 09/06/2010 |
201355
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M. Patricia Foster
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360.99
|
|||
| 09/06/2010 |
201357
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Postmaster |
125.00
|
|||
| 09/06/2010 | 201346 | Steamatic of Connecticut | 1,116.06 | |||
| 09/15/2010 | dir dep |
M. Patricia Foster
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3,606.07 | |||
| 09/30/2010 | cir dep |
M. Patricia Foster
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3,606.07 | |||
| 14,982.82 | ||||||
14,982.82 |
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Attachment 6
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NewPower Holdings, Inc.
|
||
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Case Number: 02-10835
|
||
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Monthly Tax Report
|
||
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For Period from August 31, 2010 thru September 30, 2010
|
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Amounts in $000's
|
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Taxes Paid During the Month
|
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Employment Taxes
|
3.5
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Connecticut State Tax
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0.5
|
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Taxes Owed and Due
|
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Payroll Tax Liability
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4.4
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Attachment 7A
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NewPower Holdings, Inc.
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Case Number: 02-10835
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Summary of Officer Compensation / Summary of Personnel and Insurance Coverages
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For Period from August 31, 2010 thru September 30, 2010
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Amounts in $000's
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Summary of Officer Compensation
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See supplemental attachment.
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Personnel Report
|
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Full Time
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Part Time
|
||
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# of Employees at beginning of period
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1
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||
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# hired during the period
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-
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-
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# terminated/resigned during period
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-
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-
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# employees on payroll - end of period
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0
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1
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# of employees on temporary consulting assignments
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0
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||
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Confirmation of Insurance
|
|||
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See supplemental attachment. *
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* Omitted
|
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Attachment 7B
(Supplemental)
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Payments made to insiders 9/01/10-9/30/2010
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Payments are in gross amts
|
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Title
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Amount
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Date
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Type
|
||
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M. Patricia Foster
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President & CEO
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$ 5,208.33
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9/15/2010
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Salary for pay period 9/01 - 9/15
|
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|
$ 5,208.33
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9/30/2010
|
Salary for pay period 9/16 - 9/30
|
|||
|
$ 10,416.67
|
|||||
|
|
|||||
Attachment 8
|
NewPower Holdings, Inc.
|
|
Case Number: 02-10835
|
|
Significant Developments During Reporting Period
|
|
For Period from August 31, 2010 thru September 30, 2010
|
|
none
|