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8-K - CAPITAL GROWTH SYSTEMS INC /FL/v217087_8k.htm
EX-99.2 - CAPITAL GROWTH SYSTEMS INC /FL/v217087_ex99-2.htm
EX-99.4 - CAPITAL GROWTH SYSTEMS INC /FL/v217087_ex99-4.htm
EX-99.3 - CAPITAL GROWTH SYSTEMS INC /FL/v217087_ex99-3.htm
Case No.                10-12302 PJW         
Reporting Period: October 1 through October 31, 2010

Capital Growth Systems, Inc.
Consolidating Statement of Operations
for the ten months ending October 31, 2010

   
Consolidated
Total
 
       
Revenues
  $ 47,068,708  
Cost of revenues
    34,910,123  
Gross margin
    12,158,584  
         
Compensation
    8,873,998  
Travel and entertainment
    1,010,108  
Occupancy
    1,319,064  
Professional services
    3,966,960  
Insurance
    231,687  
Restructuring Expenses
    3,650,408  
Other
    877,078  
Selling, general, and administrative expenses
    19,929,304  
         
EBITDA
    (8,316,291 )
         
Bad debt expense (recovery)
    545,571  
Depreciation
    306,126  
Amortization
    1,962,530  
Operating income (loss)
    (11,130,518 )
         
Interest expense
    17,071,007  
(Gain) loss on warrants and derivatives
    (46,173,477 )
(Gain) loss on extinguishment of debt
    272,677  
Income tax expense (benefit)
    (20,359 )
         
Net income (loss)
  $ 18,265,205  
 
 
 

 

Case No             10-12302 PJW          
Reporting Period: October 1 through October 31, 2010

Capital Growth Systems, Inc.
Consolidating Statement of Operations
for the month of October 2010

   
Consolidated
Total
 
       
Revenues
  $ 4,637,110  
Cost of revenues
    3,425,142  
Gross margin
    1,211,968  
         
Compensation
    680,235  
Travel and entertainment
    85,017  
Occupancy
    81,655  
Professional services
    295,145  
Insurance
    15,528  
Restructuring Expenses
    540,039  
Other
    201,685  
Selling, general, and administrative expenses
    1,899,305  
         
EBITDA
    (742,337 )
         
Bad debt expense (recovery)
    55,000  
Depreciation
    28,387  
Amortization
    196,253  
Operating income (loss)
    (1,021,978 )
         
Interest expense
    1,450,360  
(Gain) loss on warrants and derivatives
       
(Gain) loss on extinguishment of debt
       
Income tax expense (benefit)
       
         
Net income (loss)
  $ (2,417,338 )
 
 
 

 

Case No             10-12302 PJW          
Reporting Period: October 1 through October 31, 2010
 
Capital Growth Systems, Inc.
Summary of All Units
For the Eleven Months Ending October 31, 2010

   
Consolidated
Total
 
       
BALANCE SHEET
     
       
Current Assets
     
Cash
  $ 3,009,966  
Accounts receivable, net
    4,771,486  
Other current assets
    4,113,661  
Intercompany accounts
    141,647  
Total Current Assets
    12,036,760  
         
Fixed assets, gross
    3,807,698  
Accumulated depreciation
    (3,045,355 )
Fixed Assets, net
    771,586  
         
Other Assets
       
Other assets
    316,357  
Intangible assets
    14,499,142  
Goodwill
    1,479,649  
Total Assets
  $ 29,103,494  
         
Current Liabilities
       
Current maturities of debt
    21,284,219  
Post-Petition Accounts Payable
    3,128,097  
Pre-Petition Accounts Payable
    14,238,443  
Post-Petition Accrued Expenses
    4,498,922  
Pre-Petition Accrued Expenses
    4,176,117  
Deferred revenue
    3,856,122  
Total Current Liabilities
    51,181,919  
         
Long-term Liabilities
       
Debt
    9,523,333  
Taxes
    (2,770 )
Total Liabilities
    33,691,280  
         
Shareholders' Equity
       
Common stock
    17,015  
Additional paid-in capital
    106,182,362  
Retained earnings, beginning of year
    (156,103,506 )
Cumulative gain (loss) on currency translation
    (220,160 )
Year-to-date income (loss)
    18,525,301  
         
Shareholders' Equity
    (22,078,426 )
         
Total Liabilities and Shareholders' Equity
  $ 29,103,493  
 
 
 

 

Case No.            10-12302 PJW          
Reporting Period: October 1 through October 31, 2010

Capital Growth Systems, Inc.
Consolidated AP Aging Report (post-petition)

As of 10/31/2010

   
Current
   
1-30
   
31-60
   
61-90
   
Total
 
Total Accounts Payable
  $ 1,155,061     $ 1,133,151     $ 127,629     $ 648,303     $ 3,129,948  
 
 
 

 

Case No.           10-12302 PJW        
Reporting Period: October 1 through October 31, 2010

Global Capacity
Consolidated AR Aging Report (Gross Receivables)

As of 10/31/2010

   
Current
   
1-30 Days
   
31 - 60 Days
   
61 + Days
   
Total
 
Total Accounts Receivables
    1,368,731       1,365,333       106,091       2,475,685       5,315,840