PIKSEL, INC. - FORM 8-K - EX-99.4 - EXHIBIT 99.4

Attached files

file	filename
8-K - FORM 8-K - PIKSEL, INC.	v352054_8k.htm
EX-99.5 - EXHIBIT 99.5 - PIKSEL, INC.	v352054_ex99-5.htm
EX-99.2 - EXHIBIT 99.2 - PIKSEL, INC.	v352054_ex99-2.htm
EX-99.1 - EXHIBIT 99.1 - PIKSEL, INC.	v352054_ex99-1.htm
EX-99.3 - EXHIBIT 99.3 - PIKSEL, INC.	v352054_ex99-3.htm

In re	KIT digital, Inc.		Case No.		13-11298 (REG)
	Debtor		Reporting Period:		July 1 2013 to July 31 2013

BALANCE SHEET

The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from post-petition obligations.

ASSETS	BOOK VALUE AT END OF CURRENT REPORTING MONTH			BOOK VALUE AT END OF PRIOR REPORTING MONTH			BOOK VALUE ON PETITION DATE OR SCHEDULED			Comments
CURRENT ASSETS
Unrestricted Cash and Equivalents		273,173.13			19,065.74			172.67
Restricted Cash and Cash Equivalents (see continuation sheet)		2,000,704.99			2,000,482.24			2,089,119.93
Accounts Receivable (Net)		-			-			-
Notes Receivable		-			-			-
Inventories		-			-			-
Prepaid Expenses		525,453.18			580,518.30			528,002.29
Professional Retainers		-			-			-
Other Current Assets (attach schedule)		17,475,105.36			17,191,721.24			17,604,502.39
TOTAL CURRENT ASSETS		20,274,436.66			19,791,787.52			20,221,797.28
PROPERTY & EQUIPMENT
Real Property and Improvements		-			-			-
Machinery and Equipment		1,559,399.56			1,559,399.56			1,559,399.56
Furniture, Fixtures and Office Equipment		62,824.09			62,824.09			62,824.09
Leasehold Improvements		-			-			-
Vehicles		-			-			-
Less: Accumulated Depreciation		(935,706.06	)		(898,124.81	)		(822,906.69	)
TOTAL PROPERTY & EQUIPMENT		686,517.59			724,098.84			799,316.96
OTHER ASSETS
Amounts due from Insiders*		-			-			-
Other Assets (attach schedule)		220,886,486.82			220,886,486.82			220,886,486.82
TOTAL OTHER ASSETS		220,886,486.82			220,886,486.82			220,886,486.82
TOTAL ASSETS		241,847,441.07			241,402,373.18			241,907,601.06

*LIABILITIES AND OWNER EQUITY*		BOOK VALUE AT END OF CURRENT REPORTING MONTH			BOOK VALUE AT END OF PRIOR REPORTING MONTH			BOOK VALUE ON PETITION DATE
*LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition)*
Accounts Payable		2,584,464.54			131,558.30			-
Taxes Payable (refer to FORM MOR-4)		-			-			-
Wages Payable		-			-			-
Notes Payable		-			-			-
Rent / Leases - Building/Equipment		-			-			-
Secured Debt / Adequate Protection Payments		-			-			-
Professional Fees		2,182,757.37			1,709,000.00			29,750.00
Amounts Due to Insiders*		-			-			10,000.00
Other Post-petition Liabilities (attach schedule)		4,152,292.22			2,750,808.57			1,500,000.00
TOTAL POST-PETITION LIABILITIES		8,919,514.13			4,591,366.87			1,539,750.00
*LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)*
Secured Debt		10,226,355.18			10,226,355.18			10,226,355.18
Priority Debt		78,799.43			78,799.43			78,799.43
Unsecured Debt		46,195,648.65			45,960,423.42			46,314,000.71		Includes $32.2 M of equity related liabilities, such as Acquisition/Earnouts, which the debtor believes will be subordinated pursuant to section 510(b) of the Bankruptcy Code
TOTAL PRE-PETITION LIABILITIES		56,500,803.26			56,265,578.03			56,619,155.32
TOTAL LIABILITIES		65,420,317.39			60,856,944.90			58,158,905.32
*OWNERS' EQUITY*
Capital Stock		6,089.37			6,089.37			6,089.37
Additional Paid-In Capital		568,067,878.68			568,067,878.68			568,067,878.68
Partners' Capital Account		-			-			-
Owner's Equity Account		-			-			-
Retained Earnings - Pre-Petition		(384,274,882.77	)		(384,274,882.77	)		(384,274,882.77	)
Retained Earnings - Post-petition		(7,371,961.60	)		-			(50,389.54	)
Adjustments to Owner Equity (attach schedule)		-			-			-
Post-petition Contributions (attach schedule)		-			-			-
NET OWNERS’ EQUITY		176,427,123.68			183,799,085.28			183,748,695.74
TOTAL LIABILITIES AND OWNERS' EQUITY		241,847,441.07			244,656,030.18			241,907,601.06
*"Insider" is defined in 11 U.S.C. Section 101(31).
		(0.00	)
BALANCE SHEET - continuation section
ASSETS	BOOK VALUE AT END OF CURRENT REPORTING MONTH			BOOK VALUE AT END OF PRIOR REPORTING MONTH			BOOK VALUE ON PETITION DATE
Other Current Assets
Investments		639,506.00			639,506.00			639,506.00
Earnout Receivable- ST		1,690,000.00			1,690,000.00			1,690,000.00
Intercompany, net		15,145,599.36			14,862,215.24			15,274,996.39
Total		17,475,105.36			17,191,721.24			17,604,502.39


Other Assets
Goodwill		15,485,347.30			15,485,347.30			15,485,347.30
Investments in Subsidiaries		197,807,230.87			197,807,230.87			197,807,230.87
Earnout Receivable, LT		6,510,000.00			6,510,000.00			6,510,000.00
Note Receivable, LT		1,083,908.65			1,083,908.65			1,083,908.65
Total		220,886,486.82			220,886,486.82			220,886,486.82

LIABILITIES AND OWNER EQUITY		BOOK VALUE AT END OF CURRENT REPORTING MONTH			BOOK VALUE AT END OF PRIOR REPORTING MONTH			BOOK VALUE ON PETITION DATE
Other Post-petition Liabilities
Liability on Escrow in Respect of Plan Sponsor Group Deposit		1,500,000.00			1,500,000.00			1,500,000.00
DIP Loan plus interest		2,652,292.22			1,250,808.57			-
Total		4,152,292.22			2,750,808.57			1,500,000.00

Adjustments to Owner’s Equity



Post-Petition Contributions

Restricted Cash: Cash that is restricted for a specific use and not available to fund operations.

Typically, restricted cash is segregated into a separate account, such as an escrow account.

Includes $1.5m Escrow Account in Respect of Plan Sponsor Group Deposit

PIKSEL, INC. - FORM 8-K - EX-99.4 - EXHIBIT 99.4 - August 14, 2013

Attached files

PIKSEL, INC. Reports