Attached files
| file | filename |
|---|---|
| 8-K - CAPITAL GROWTH SYSTEMS INC /FL/ | v217087_8k.htm |
| EX-99.2 - CAPITAL GROWTH SYSTEMS INC /FL/ | v217087_ex99-2.htm |
| EX-99.1 - CAPITAL GROWTH SYSTEMS INC /FL/ | v217087_ex99-1.htm |
| EX-99.4 - CAPITAL GROWTH SYSTEMS INC /FL/ | v217087_ex99-4.htm |
|
Case No.
|
10-12302 PJW
|
Reporting Period: December 1 through December 31, 2010
Capital Growth Systems, Inc.
Consolidating Statement of Operations
for the twelve months ended December 2010
|
Consolidated
Total
|
||||
|
INCOME STATEMENT
|
||||
|
Revenues
|
$ | 55,835,220 | ||
|
Cost of Revenues
|
$ | 41,548,515 | ||
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Gross Margin
|
$ | 14,286,706 | ||
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OPERATING EXPENSES
|
||||
|
Compensation
|
$ | 10,506,530 | ||
|
Travel and entertainment
|
$ | 1,084,480 | ||
|
Occupancy
|
$ | 2,147,512 | ||
|
Professional services
|
$ | 3,417,578 | ||
|
Insurance
|
$ | 262,100 | ||
|
Restructuring Expenses
|
$ | 3,222,280 | ||
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Other
|
$ | 214,041 | ||
|
Selling, general, and administrative expenses
|
$ | 20,854,521 | ||
|
EBITDA
|
$ | (7,162,553 | ) | |
|
Bad Debt Expense (Recovery)
|
$ | 594,738 | ||
|
Depreciation
|
$ | 362,901 | ||
|
Amortization
|
$ | 2,355,382 | ||
|
Operating Income (Loss)
|
$ | (10,475,574 | ) | |
|
Interest Expense
|
$ | 19,950,077 | ||
|
(Gain)/Loss on Warrants & Derivatives
|
$ | (46,173,477 | ) | |
|
Income tax expense (benefit)
|
$ | 44,606 | ||
|
NET INCOME (LOSS)
|
$ | 16,297,957 | ||
|
Case No.
|
10-12302 PJW
|
Reporting Period: December 1 through December 31, 2010
Capital Growth Systems, Inc.
Consolidating Statement of Operations
for the month of December 2010
|
Consolidated
Total
|
||||
|
INCOME STATEMENT
|
||||
|
Revenues
|
$ | 4,323,863 | ||
|
Cost of Revenues
|
$ | 3,235,358 | ||
|
Gross Margin
|
$ | 1,088,505 | ||
|
OPERATING EXPENSES
|
||||
|
Compensation
|
$ | 916,148 | ||
|
Travel and entertainment
|
$ | 54,385 | ||
|
Occupancy
|
$ | 135,397 | ||
|
Professional services
|
$ | (618,021 | ) | |
|
Insurance
|
$ | 15,528 | ||
|
Restructuring Expenses
|
$ | (740,085 | ) | |
|
Other
|
$ | 2,806 | ||
|
Selling, general, and administrative expenses
|
$ | (233,843 | ) | |
|
EBITDA
|
$ | 1,322,349 | ||
|
Bad Debt Expense (Recovery)
|
$ | 25,000 | ||
|
Depreciation
|
$ | 28,387 | ||
|
Amortization
|
$ | 196,253 | ||
|
Operating Income (Loss)
|
$ | 1,072,708 | ||
|
Interest Expense
|
$ | 1,457,103 | ||
|
Income tax expense (benefit)
|
$ | 5,505 | ||
|
NET INCOME (LOSS)
|
$ | (389,900 | ) | |
|
Case No.
|
10-12302 PJW
|
Reporting Period: December 1 through December 31, 2010
Capital Growth Systems, Inc.
Summary of All Units
For the Period Ending December 31, 2010
|
Consolidated
Total
|
||||
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BALANCE SHEET
|
||||
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Current Assets
|
||||
|
Cash
|
$ | 1,900,232 | ||
|
Accounts Receivable, net
|
$ | 5,225,421 | ||
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Other Current Assets
|
$ | 4,149,945 | ||
|
Total Current Assets
|
$ | 11,275,597 | ||
|
Fixed Assets, gross
|
$ | 3,826,970 | ||
|
Accumulated Depreciation
|
$ | (3,103,499 | ) | |
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Fixed Assets, net
|
$ | 723,471 | ||
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Other Assets
|
||||
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Other Assets
|
$ | 234,089 | ||
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Intangible Assets
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$ | 14,106,635 | ||
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Goodwill
|
$ | 1,479,649 | ||
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Total Assets
|
$ | 27,819,442 | ||
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Current Liabilities
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||||
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Current maturities of debt
|
$ | 23,818,753 | ||
|
Post-Petition Accounts Payable
|
$ | 4,362,104 | ||
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Pre-Petition Accounts Payable
|
$ | 14,029,755 | ||
|
Post-Petition Accrued Expenses
|
$ | 1,669,936 | ||
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Pre-Petition Accrued Expenses
|
$ | 4,609,848 | ||
|
Deferred Revenue - Short Term
|
$ | 3,601,250 | ||
|
Total Current Liabilities
|
$ | 52,091,647 | ||
|
Long-term Liabilities
|
||||
|
Debt
|
$ | 10,000,661 | ||
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Taxes
|
$ | 67,000 | ||
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Total Long-term Liabilities
|
$ | 10,067,661 | ||
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Total Liabilities
|
$ | 62,159,307 | ||
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Shareholders' Equity
|
||||
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Common stock
|
$ | 17,015 | ||
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Reserves
|
$ | (56,711 | ) | |
|
Additional Paid in Capital
|
$ | 91,347,291 | ||
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Retained Earnings, beginning of year
|
$ | (140,720,936 | ) | |
|
Cumulative (gain) loss on currency translation
|
$ | (872,742 | ) | |
|
Current Year Retained Earnings Inc/Loss
|
$ | 15,946,217 | ||
|
Total Equity
|
$ | (34,339,866 | ) | |
|
Total Liabilities and Shareholders' Equity
|
$ | 27,819,442 | ||
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Case No.
|
10-12302 PJW
|
Reporting Period: December 1 through December 31, 2010
Capital Growth Systems, Inc.
Consolidated AP Aging Report (post-petition)
As of 12/31/2010
|
Current
|
1-30
|
31-60
|
61-90
|
Over 90
|
Total
|
|||||||||||||||||||
|
Total Accounts Payable
|
$ | 223,506 | $ | 1,799,991 | $ | 1,696,528 | $ | 659,451 | $ | (17,371 | ) | $ | 4,362,105 | |||||||||||
|
Case No.
|
10-12302 PJW
|
Reporting Period: December 1 through December 31, 2010
Capital Growth Systems, Inc.
Consolidated AR Aging Report (Gross Receivables)
As of 12/31/2010
|
Current
|
1-30 Days
|
31 - 60 Days
|
61 + Days
|
Total
|
||||||||||||||||
|
Total Accounts Receivables
|
$ | 2,433,350 | $ | 1,625,220 | $ | 378,481 | $ | 1,649,042 | $ | 6,086,093 | ||||||||||