Attached files
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| 8-K - NEWPOWER HOLDINGS INC | efc11-73_fm8k.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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02-10835
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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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11/30/2010 to 12/31/2010
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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 November 30, 2010 thru December 31, 2010
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Opening Cash Balance - 11/30/10
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$ 372
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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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2 |
2
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Consulting Fees
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Lockbox Fees
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2 |
2
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Supplies & Misc
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Rent
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0
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0
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Insurance
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Utilities (Heat, Hydro, Phone, etc.)
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0 |
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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15
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15
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Net Cash Flows
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(15)
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Closing Cash Balance
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$ 357
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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 November 30, 2010 thru December 31, 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 11/30/10 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 12/31/10 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 November 30, 2010 thru December 31, 2010
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Amounts in $000’s
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See attached System Generated A/P reports as of 11/30/2010 (Attachments 2A and 2B).
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Beginning of Period Balance
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$ |
56
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(per 11/30/10 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 12/31/10 G/L)
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Exhibit 2A
The New Power Company
Vendor Balance Detail
As of December 31, 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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AT&T
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0.00
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Bill
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12/02/2010
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167.99
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167.99
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Bill
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12/02/2010
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10.60
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178.59
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Bill Pmt -Check
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12/02/2010
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-178.59
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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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12/02/2010
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387.50
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387.50
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Bill Pmt -Check
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12/02/2010
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-387.50
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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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JPMorgan Chase
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0.00
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Bill
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12/02/2010
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1,831.34
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1,831.34
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Bill Pmt -Check
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12/02/2010
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-1,831.34
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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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12/02/2010
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82.50
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82.50
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Bill Pmt -Check
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12/02/2010
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-82.50
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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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The Department of State
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0.00
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Bill
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12/02/2010
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9.00
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9.00
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Bill Pmt -Check
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12/02/2010
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-9.00
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0.00
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Total The Department of State
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0.00
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0.00
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U.S. Trustee Program Payment Center
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0.00
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Bill
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12/02/2010
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1,300.00
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1,300.00
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Bill Pmt -Check
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12/02/2010
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-1,300.00
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0.00
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Total U.S. Trustee Program Payment Center
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0.00
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0.00
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TOTAL
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0.00
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0.00
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Exhibit 2B
The New Power Company
Unpaid Vendor Balances
December 31, 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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3,137.41
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58,603.23
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Attachment 3
NewPower Holdings, Inc.
Case Number: 02-10835
Inventroy and Fixed Assets Report
For Period from November 30, 2010 thru December 31, 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 11/30/10 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 12/31/10 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
Page 8 of 15
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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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12/01/2010-12/31/2010
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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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$ 34,199.29
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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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$ 12,142.07
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Transfer to Manual Checking of
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Closing Balance
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$ 22,057.22
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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
Page 9 of 15
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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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12/01/2010-12/31/2010
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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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$ 349,778.41
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Total Deposits
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$ 14.54
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Interest Income
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Total Payments
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$ 2,534.62 -
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Payroll Taxes and transfer to Concentration of $50,000
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Closing Balance
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$ 347,258.43
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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
Page 10 of 15
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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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12/01/2010-12/31/2010
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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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$ 12,142.07
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Transfer from Concentration
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Total Payments
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$ (12,142.07)
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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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201369
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Last Check issued this Period
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201377
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Voided Checks
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2
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Total # of checks issued this Period
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7
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Exhibit 5
The New Power Company
Cash Activity
As of December 2010
Cash Activity
As of December 2010
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Num
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Date
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Name
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Amount
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direct dep
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12/15/2010
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M. Patricia Foster
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3,928.99
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direct dep
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12/31/2010
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M. Patricia Foster
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3,928.99
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wire
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12/02/2010
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United States Treasury
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2,534.62
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201369
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12/02/2010
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CT Commissioner of Revenue Services
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504.16
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201372
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12/02/2010
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AT&T
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178.59
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201373
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12/02/2010
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epiq Systems
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387.50
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201374
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12/02/2010
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JPMorgan Chase
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1,831.34
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201375
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12/02/2010
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Kaster Moving Co. Inc.
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82.50
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201376
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12/02/2010
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The Department of State
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9.00
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201377
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12/02/2010
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U.S. Trustee Program Payment Center
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1,300.00
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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 November 30, 2010 thru December 31, 2010
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Amounts in $000's
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Taxes Paid During the Month
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Employment Taxes
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2.5
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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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3.5
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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 November 30, 2010 thru December 31, 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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# 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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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 12/01/10-12/31/2010
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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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12/15/2010
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Salary for pay period 12/01 - 12/15
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$ 5,208.33
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12/31/2010
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Salary for pay period 12/16 - 12/31
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$ 10,416.67
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Attachment 8
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NewPower Holdings, Inc.
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Case Number: 02-10835
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Significant Developments During Reporting Period
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|
For Period from November 30, 2010 thru December 31, 2010
|
|
none
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