Attached files
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8-K - FORM 8-K - IMAGENETIX INC /NV/ | v347976_8k.htm |
Exhibit 99.1
UNITED STATES DEPARTMENT OF JUSTICE
OFFICE OF THE UNITED STATES TRUSTEE
SOUTHERN DISTRICT OF CALIFORNIA
In Re: | ||
CHAPTER 11 (BUSINESS) | ||
IMAGENETIX, INC., | OPERATING REPORT NO. 5 | |
FOR THE MONTH ENDING: | ||
4/30/2013 | ||
Debtor(s). | ||
I. CASH RECEIPTS AND DISBURSEMENTS
A. (GENERAL ACCOUNT*)
1. TOTAL RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS | $ | 501,599.95 | ||||
2. LESS: TOTAL DISBURSEMENTS PER ALL PRIOR GENERAL | ||||||
ACCOUNT REPORTS | $ | 371,975.21 | ||||
3. BEGINNING BALANCE | $ | 129,624.74 | ||||
4. RECEIPTS DURING CURRENT PERIOD: | ||||||
ACCOUNTS RECEIVABLE - PRE-FILING | $ | - | ||||
ACCOUNTS RECEIVABLE - POST-FILING | $ | 98,161.50 | ||||
GENERAL SALES | $ | - | ||||
OTHER (SPECIFY) _Customer deposits on future sales | $ | 30,000.00 | ||||
OTHER ** (SPECIFY) _ADP refund | $ | 525.00 | ||||
TOTAL RECEIPTS THIS PERIOD: | $ | 128,686.50 | ||||
5. BALANCE: | $ | 258,311.24 | ||||
6. LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD | ||||||
TRANSFERS TO OTHER DIP ACCOUNTS | $ | - | ||||
DISBURSEMENTS | $ | 168,254.86 | ||||
TOTAL DISBURSEMENTS THIS PERIOD***: | $ | 168,254.86 | ||||
7. ENDING BALANCE: | $ | 90,056.38 |
8. GENERAL ACCOUNT NUMBER ____xxxxxx8451__________________________
DEPOSITORY NAME AND LOCATION _California Bank & Trust, 16796 Bernardo Center Dr.,
_______________________________________San Diego, CA 92128_______________________________________
* | All receipts must be deposited into the general account. |
** | Include receipts from the sale of any real or personal property out of the ordinary course of business; attach an exhibit specifying what was sold, to whom, terms, and date of Court Order or Report of Sale. |
*** | This amount should be the same as the total from page 2. |
Debtor-in-Possession Monthly Operating Report (Business) - Page 1 of 14
ORR-page 22 (rev. 03/01/08) 150328
IX. BALANCE SHEET
(ACCRUAL BASIS ONLY)
Current Month End | ||||||
ASSETS | ||||||
Current Assets: | ||||||
Unrestricted Cash | $ | 90,356.38 | ||||
Restricted Cash | ||||||
Accounts Receivable | $ | 391,991.93 | ||||
Inventory | $ | 94,560.81 | ||||
Notes Receivable | ||||||
Prepaid Expenses | ||||||
Other (Itemize) | ||||||
Total Current Assets | $ | 576,909.12 | ||||
Property, Plant, and Equipment | $ | 254,873.45 | ||||
Accumulated Depreciation/Depletion | $ | (249,638.69 | ) | |||
Net Property, Plan, and Equipment | $ | 5,234.76 | ||||
Other Assets (Net of Amortization): | ||||||
Due from Insiders | ||||||
Other (Itemized) See page 12 disclosure attached | $ | 59,064.90 |
|
|||
Total Other Assets | $ | 59,064.90 | ||||
TOTAL ASSETS | $ | 641,208.78 | ||||
LIABILITIES | ||||||
Post-Petition Liabilities: | ||||||
Accounts Payable | $ | 33,458.36 | ||||
Taxes Payable | ||||||
Notes Payable | ||||||
Professional Fees | $ | 212,408.23 | ||||
Secured Debt | ||||||
Other (Itemized) See page 12 disclosure attached | $ | 57,629.56 | ||||
Total Post-Petition Liabilities | $ | 303,496.15 | ||||
Pre-Petition Liabilities: | ||||||
Secured Liabilities | $ | 4,429,134.23 | ||||
Priority Liabilities | $ | 1,895.00 | ||||
Unsecured Liabilities | $ | 949,628.01 | ||||
Other (Itemized) See page 12 disclosure attached | $ | 21,039.60 | ||||
Total Pre-Petition Liabilities | $ | 5,401,696.84 | ||||
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TOTAL LIABILITIES | $ | 5,705,192.99 | ||||
EQUITY: | ||||||
Pre-Petition Owners' Equity | $ | (5,337,578.31 | ) | |||
Post-Petition Profit/(Loss) | $ | 273,594.10 | ||||
Direct Charges to Equity | ||||||
TOTAL EQUITY | $ | (5,063,984.21) | ||||
TOTAL LIABILITIES & EQUITY | $ | 641,208.78 |
Debtor-in-Possession Monthly Operating Report (Business) - Page 12 of 14
ORR-Page 33 (rev. 03/01/08)
IX. PROFIT AND LOSS STATEMENT
(ACCRUAL BASIS ONLY)
Current Month | Cumulative Post-Petition | |||||||
Sales/Revenue: | ||||||||
Gross Sales/Revenue | $ | 136,778.05 | $ | 1,015,730.64 | ||||
Less: Returns/Discounts | ( | ) | ( | ) | ||||
Net Sales/Revenue | $ | 136,778.05 | $ | 1,015,730.64 | ||||
Cost of Goods Sold: | ||||||||
Beginning Inventory at cost | $ | 71,249.81 | $ | 22,488.00 | ||||
Purchases | $ | 56,712.49 | $ | 214,733.21 | ||||
Less: Ending Inventory at cost | $ | (94,560.81 | ) | $ | (94,560.81 | ) | ||
Cost of Goods Sold (COGS) | $ | 33,401.49 | $ | 142,660.40 | ||||
Gross Profit | $ | 103,376.56 | $ | 873,070.24 | ||||
Other Operating Income (Itemize) | ||||||||
Operating Expenses: | ||||||||
Payroll - Insiders | $ | 29,320.00 | $ | 123,883.00 | ||||
Payroll - Other Employees | $ | 14,635.92 | $ | 59,912.36 | ||||
Payroll Taxes | $ | 10,906.96 | $ | 23,421.30 | ||||
Other Taxes (Itemize) | ||||||||
Depreciation and Amortization | $ | 1,436.39 | $ | 21,722.13 | ||||
Rent Expense - Real Property | $ | 7,596.40 | $ | 38,581.60 | ||||
Lease Expense - Personal Property | ||||||||
Insurance | $ | 3,218.26 | $ | 28,526.16 | ||||
Real Property Taxes | $ | - | $ | 1,318.38 | ||||
Telephone and Utilities | $ | 529.83 | $ | 15,235.22 | ||||
Repairs and Maintenance | ||||||||
Travel and Entertainment (Itemize) business meals and parking | $ | 699.69 | $ | 2,922.74 | ||||
Miscellaneous Operating Expenses (Itemize) see attached | $ | 7,606.31 | $ | 32,484.65 | ||||
Total Operating Expenses | $ | (75,949.76 | ) | $ | (348,007.54 | ) | ||
Net Gain/(Loss) from Operations | $ | 27,426.80 | $ | 525,062.70 | ||||
Non-Operating Income: | ||||||||
Interest Income | ||||||||
Net Gain on Sale of Assets (Itemize) | ||||||||
Other (Itemize) | $ | - | $ | 42,899.00 | ||||
Total Non-Operating Income | $ | - | $ | 42,899.00 | ||||
Non-Operating Expense: | ||||||||
Interest Expense | $ | 4,476.88 | $ | 20,131.72 | ||||
Legal and Professional (Itemize) | $ | 34,233.33 | $ | 274,235.88 | ||||
Other (Itemize) | ||||||||
Total Non-Operating Expenses | $ | (38,710.21 | ) | $ | (294,367.60 | ) | ||
NET INCOME/(LOSS) | $ | (11,283.41 | ) | $ | 273,594.10 |
Debtor-in-Possession Monthly Operating Report (Business) - Page 11 of 14
ORR-Page 32 (rev. 03/01/08)