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8-K - FORM 8-K - PROFESSIONAL VETERINARY PRODUCTS LTD /NE/ | c64108e8vk.htm |
Exhibit 99.1
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF NEBRASKA
FOR THE DISTRICT OF NEBRASKA
In re:
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) | Case No. 10-82436 | ||||
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PROFESSIONAL VETERINARY
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) | CHAPTER 11 | ||||
PRODUCTS, LTD, A NEBRASKA
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CORPORATION,
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Debtor,
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In re:
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) | Case No. 10-82438 | ||||
) | ||||||
EXACT LOGISTICS, LLC,
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) | CHAPTER 11 | |||||
Debtor,
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In re:
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) | Case No. 10-82437 | ||||
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PROCONN, LLC,
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) | CHAPTER 11 | |||||
Debtor,
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MONTHLY OPERATING REPORT FOR THE PERIOD
03/01/2011 THROUGH 03/31/2011
03/01/2011 THROUGH 03/31/2011
I CERTIFY UNDER PENALTY OF PERJURY THAT THE FOLLOWING CONSOLIDATED OPERATING
REPORT, CONSISTING OF ONE (1) PAGE IS TRUE AND CORRECT.
Date Submitted 4/13/11 | /s/ Vicky Winkler | |||
Vicky Winkler, President/CEO | ||||
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF NEBRASKA
FOR THE DISTRICT OF NEBRASKA
CASE NAME: Summary Report for Professional Veterinary Products, LTD; Exact Logistics, LLC; ProConn, LLC
CASE NO.: 10-82436; 10-82438; 10-82437
CASE NO.: 10-82436; 10-82438; 10-82437
Summary of Cash Receipts and Disbursements For The Above Noted Entity
For Period March 1-31, 2011
For Period March 1-31, 2011
Wells Fargo | FNBO | JP Morgan | Fulton Bank | Total | ||||||||||||||||
BEGINNING BALANCE (02/28/11) |
$ | 18,751.51 | $ | 11,200,999.37 | $ | 60,000.00 | $ | 0.00 | $ | 11,279,750.88 | ||||||||||
RECEIPTS: |
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1. Receipts from AR Collections |
0.00 | 100,670.53 | 0.00 | 0.00 | 100,670.53 | |||||||||||||||
2. Receipts from Bulk Sale of Inventory |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
3. Receipts from Insurance Policies |
0.00 | 120,210.82 | 0.00 | 0.00 | 120,210.82 | |||||||||||||||
4. Receipts from Sale of De Minimis Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
5. Receipts from Sale of Fixed Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
6. Other Receipts |
0.00 | 145,477.23 | 0.00 | 0.00 | 145,477.23 | |||||||||||||||
TOTAL RECEIPTS |
0.00 | 366,358.58 | 0.00 | 0.00 | 366,358.58 | |||||||||||||||
TRANSFERS: |
(17,723.92 | ) | 17,723.92 | 0.00 | 0.00 | 0.00 | ||||||||||||||
DISBURSEMENTS: |
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3. Line of credit Wells Fargo |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
4. Payments to Officers and Directors: |
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a. Officers |
0.00 | 13,384.62 | 0.00 | 0.00 | 13,384.62 | |||||||||||||||
b. Directors |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Subtotal payments to Officers and Directors |
0.00 | 13,384.62 | 0.00 | 0.00 | 13,384.62 | |||||||||||||||
5. Taxes personnel |
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a. Federal Income Tax |
0.00 | 3,945.99 | 0.00 | 0.00 | 3,945.99 | |||||||||||||||
b. FICA withholdings |
0.00 | 2,712.70 | 0.00 | 0.00 | 2,712.70 | |||||||||||||||
c. Medicare |
0.00 | 756.44 | 0.00 | 0.00 | 756.44 | |||||||||||||||
d. Federal Unemployment |
0.00 | 24.38 | 0.00 | 0.00 | 24.38 | |||||||||||||||
e. State Income Tax |
0.00 | 1,291.79 | 0.00 | 0.00 | 1,291.79 | |||||||||||||||
f. State Unemployment |
(399.92 | ) | 302.37 | 0.00 | 0.00 | (97.55 | ) | |||||||||||||
g. State Unemployment/Disability |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
h. Local Income Tax |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Subtotal taxes |
(399.92 | ) | 9,033.67 | 0.00 | 0.00 | 8,633.75 | ||||||||||||||
6. Necessary expenses: |
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Inventory purchases |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Freight and supplies |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Wages, ETO, Commissions, Incentives, Fees |
0.00 | 6,138.37 | 0.00 | 0.00 | 6,138.37 | |||||||||||||||
Benefits |
0.00 | 0.00 | (18,876.08 | ) | 0.00 | (18,876.08 | ) | |||||||||||||
Professional and Trustee Fees |
0.00 | 65,319.08 | 0.00 | 0.00 | 65,319.08 | |||||||||||||||
Credit card fees |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Bayer escrow |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Payment of Sales Taxes |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Building Expenses |
0.00 | 415.98 | 0.00 | 0.00 | 415.98 | |||||||||||||||
Building Lease |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Equipment Leases and Expenses |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Utilities Expense |
0.00 | 6,853.13 | 0.00 | 0.00 | 6,853.13 | |||||||||||||||
Utilities Deposit |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Insurance |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Real Estate & Personal Property Taxes |
0.00 | 86,833.77 | 0.00 | 0.00 | 86,833.77 | |||||||||||||||
Accounting and Tax Fees |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Wells Fargo Escrow |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Bank Fees/Interest |
1,427.51 | 118.83 | 0.00 | 0.00 | 1,546.34 | |||||||||||||||
Misc. G&A and Other fees |
0.00 | 25,723.03 | 0.00 | 0.00 | 25,723.03 | |||||||||||||||
Subtotal necessary expenses |
1,427.51 | 191,402.19 | (18,876.08 | ) | 0.00 | 173,953.62 | ||||||||||||||
TOTAL DISBURSEMENTS |
1,027.59 | 213,820.48 | (18,876.08 | ) | 0.00 | 195,971.99 | ||||||||||||||
NET CASH FLOW |
(18,751.51 | ) | 170,262.02 | 18,876.08 | 0.00 | 170,386.59 | ||||||||||||||
ENDING BANK BALANCE (3/31/11) |
$ | 0.00 | $ | 11,371,261.39 | $ | 78,876.08 | $ | 0.00 | $ | 11,450,137.47 | ||||||||||
BANK BALANCES Per Bank Statement |
$ | 0.00 | $ | 11,371,261.39 | $ | 78,876.08 | $ | 0.00 | $ | 11,450,137.47 | ||||||||||
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