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8-K - FORM 8-K - PROFESSIONAL VETERINARY PRODUCTS LTD /NE/ | c65013e8vk.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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PRODUCTS, LTD, A NEBRASKA
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) | CHAPTER 11 | ||||
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 | |||||
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Debtor,
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MONTHLY OPERATING REPORT FOR THE PERIOD
05/01/2011 THROUGH 05/31/2011
05/01/2011 THROUGH 05/31/2011
I CERTIFY UNDER PENALTY OF PERJURY THAT THE FOLLOWING CONSOLIDATED OPERATING
REPORT, CONSISTING OF ONE (1) PAGE IS TRUE AND CORRECT.
Date Submitted 6/6/11 | /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
Summary of Cash Receipts and Disbursements For The Above Noted Entity
For Period May 1-31, 2011
For Period May 1-31, 2011
Wells Fargo | FNBO | JP Morgan | Fulton Bank | Total | ||||||||||||||||
BEGINNING BALANCE (04/30/11) |
$ | 0.00 | $ | 11,290,040.44 | $ | 78,207.28 | $ | 0.00 | $ | 11,368,247.72 | ||||||||||
RECEIPTS: |
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1. Receipts from A/R Collections |
0.00 | 46,524.85 | 0.00 | 0.00 | 46,524.85 | |||||||||||||||
2. Receipts from Bulk Sale of Inventory |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
3. Receipts from Sale of Intangible Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
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 | 529,287.15 | 0.00 | 0.00 | 529,287.15 | |||||||||||||||
TOTAL RECEIPTS |
0.00 | 575,812.00 | 0.00 | 0.00 | 575,812.00 | |||||||||||||||
TRANSFERS: |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
DISBURSEMENTS: |
||||||||||||||||||||
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 | 8,745.39 | 0.00 | 0.00 | 8,745.39 | |||||||||||||||
b. Directors |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Subtotal payments to Officers and
Directors |
0.00 | 8,745.39 | 0.00 | 0.00 | 8,745.39 | |||||||||||||||
5. Taxes personnel |
||||||||||||||||||||
a. Federal Income Tax |
0.00 | 3,975.84 | 0.00 | 0.00 | 3,975.84 | |||||||||||||||
b. FICA withholdings |
0.00 | 2,064.47 | 0.00 | 0.00 | 2,064.47 | |||||||||||||||
c. Medicare |
0.00 | 575.68 | 0.00 | 0.00 | 575.68 | |||||||||||||||
d. Federal Unemployment |
0.00 | 5.37 | 0.00 | 0.00 | 5.37 | |||||||||||||||
e. State Income Tax |
0.00 | 1,100.31 | 0.00 | 0.00 | 1,100.31 | |||||||||||||||
f. State Unemployment |
0.00 | 40.21 | 0.00 | 0.00 | 40.21 | |||||||||||||||
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 |
0.00 | 7,761.88 | 0.00 | 0.00 | 7,761.88 | |||||||||||||||
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
(Net of income taxes withheld and
reported above) |
0.00 | 5,075.35 | 0.00 | 0.00 | 5,075.35 | |||||||||||||||
Benefits |
0.00 | 0.00 | 13,473.26 | 0.00 | 13,473.26 | |||||||||||||||
Professional and Trustee Fees |
0.00 | 168,322.88 | 0.00 | 0.00 | 168,322.88 | |||||||||||||||
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 | 2,868.48 | 0.00 | 0.00 | 2,868.48 | |||||||||||||||
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 | 1,456.27 | 0.00 | 0.00 | 1,456.27 | |||||||||||||||
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 | 24.74 | 0.00 | 0.00 | 24.74 | |||||||||||||||
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 |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Misc. G&A and Other fees |
0.00 | 5,774.49 | 0.00 | 0.00 | 5,774.49 | |||||||||||||||
Subtotal necessary expenses |
0.00 | 183,522.21 | 13,473.26 | 0.00 | 196,995.47 | |||||||||||||||
TOTAL DISBURSEMENTS |
0.00 | 200,029.48 | 13,473.26 | 0.00 | 213,502.74 | |||||||||||||||
NET CASH FLOW |
0.00 | 375,782.52 | (13,473.26 | ) | 0.00 | 362,309.26 | ||||||||||||||
ENDING BANK BALANCE (5/31/11) |
$ | 0.00 | $ | 11,665,822.96 | $ | 64,734.02 | $ | 0.00 | $ | 11,730,556.98 | ||||||||||
BANK BALANCES Per Bank Statement |
$ | 0.00 | $ | 11,665,822.96 | $ | 64,734.02 | $ | 0.00 | $ | 11,730,556.98 | ||||||||||