IMAGENETIX INC /NV/ - FORM 8-K - EX-99.1 - EXHIBIT 99.1 - October 17, 2013

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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.,     CASE NO. ____ 12-16423 MM11    
      OPERATING REPORT NO. 9    
  Debtor(s).   FOR THE MONTH ENDING:    
    8/31/2013    

 

I. CASH RECEIPTS AND DISBURSEMENTS

A. (GENERAL ACCOUNT*)

 

1.  TOTAL RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS      $1,047,194.62 
           
2.  LESS:    TOTAL DISBURSEMENTS PER ALL PRIOR GENERAL          
ACCOUNT REPORTS       $944,699.36 
           
3.  BEGINNING BALANCE       $102,495.26 
           
4.  RECEIPTS DURING CURRENT PERIOD:          
           
ACCOUNTS RECEIVABLE - PRE-FILING  $-      
ACCOUNTS RECEIVABLE - POST-FILING  $25,475.00      
GENERAL SALES  $-      
OTHER (SPECIFY) _Customer deposits on future sales  $37,750.00      
OTHER ** (SPECIFY) _Payroll tax & insurance refund  $214.71      
           
TOTAL RECEIPTS THIS PERIOD:       $63,439.71 
5.  BALANCE:       $165,934.97 
           
6.  LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD          
           
TRANSFERS TO OTHER DIP ACCOUNTS  $-      
DISBURSEMENTS  $103,116.54      
TOTAL DISBURSEMENTS THIS PERIOD***:       $103,116.54 
           
7.  ENDING BALANCE:       $62,818.43 
           
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.

 

 
 

 

IX. BALANCE SHEET

(ACCRUAL BASIS ONLY)

 

   Current Month End     
         
ASSETS          
Current Assets:          
Unrestricted Cash  $63,118.43    
Restricted Cash   _____________      
Accounts Receivable  $368,656.48      
Inventory  $72,372.69      
Notes Receivable   _____________      
Prepaid Expenses   _____________      
Other (Itemize)   _____________      
Total Current Assets       $504,147.60 
           
Property, Plant, and Equipment  $254,873.45      
Accumulated Depreciation/Depletion  $(251,380.27)     
Net Property, Plan, and Equipment       $3,493.18 
           
Other Assets (Net of Amortization):          
Due from Insiders   _____________      
Other (Itemized) See page 12 disclosure attached  $55,060.90      
Total Other Assets       $55,060.90 
           
TOTAL ASSETS       $562,701.68 
           
LIABILITIES          
Post-Petition Liabilities:          
Accounts Payable  $138,231.13      
Taxes Payable   _____________      
Notes Payable   _____________      
Professional Fees  $164,542.44      
Secured Debt   _____________      
Other (Itemized) See page 12 disclosure attached  $111,117.61      
Total Post-Petition Liabilities       $413,891.18 
           
Pre-Petition Liabilities:          
Secured Liabilities  $4,177,134.23      
Priority Liabilities  $1,895.00      
Unsecured Liabilities  $949,628.01      
Other (Itemized) See page 12 disclosure attached  $21,039.60      
Total Pre-Petition Liabilities       $5,149,696.84 
           
TOTAL LIABILITIES       $5,563,588.02 
           
EQUITY:          
Pre-Petition Owners' Equity  $(5,337,578.31)     
Post-Petition Profit/(Loss)  $336,691.97      
Direct Charges to Equity   _____________      
           
TOTAL EQUITY       $(5,000,886.34)
           
TOTAL LIABILITIES & EQUITY       $562,701.68 

 

 
 

 

IX. PROFIT AND LOSS STATEMENT

(ACCRUAL BASIS ONLY)

 

   Current Month  

Cumulative

Post-Petition

 
Sales/Revenue:          
Gross Sales/Revenue  $89,218.25   $1,718,003.36 
Less:  Returns/Discounts   (_____________)    (_____________) 
Net Sales/Revenue  $89,218.25   $1,718,003.36 
           
Cost of Goods Sold:          
Beginning Inventory at cost  $57,338.26   $22,488.00 
Purchases  $64,865.20   $370,292.80 
Less:  Ending Inventory at cost  $(72,372.69)  $(72,372.69)
Cost of Goods Sold (COGS)  $49,830.77   $320,408.11 
           
Gross Profit  $39,387.48   $1,397,595.25 
           
Other Operating Income (Itemize)   _____________    _____________ 
           
Operating Expenses:          
Payroll - Insiders  $29,321.20   $255,826.60 
Payroll - Other Employees  $14,635.92   $125,774.00 
Payroll Taxes  $3,397.37   $30,612.43 
Other Taxes (Itemize)   _____________    _____________ 
Depreciation and Amortization  $1,436.40   $27,467.71 
Rent Expense - Real Property  $9,645.40   $77,163.20 
Lease Expense - Personal Property   _____________    _____________ 
Insurance  $1,907.55   $44,887.02 
Real Property Taxes  $-   $2,178.97 
Telephone and Utilities  $1,298.51   $27,489.02 
Repairs and Maintenance   _____________    _____________ 
Travel and Entertainment (Itemize) business meals and parking  $450.34   $4,671.65 
Miscellaneous Operating Expenses (Itemize) see attached  $20,585.65   $76,423.77 
Total Operating Expenses  $(82,678.34)  $(672,494.37)
           
Net Gain/(Loss) from Operations  $(43,290.86)  $725,100.88 
           
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  $4,626.12   $38,486.95 
Legal and Professional (Itemize)  $52,194.90   $392,820.96 
Other (Itemize)   _____________    _____________ 
Total Non-Operating Expenses  $(56,821.02)  $(431,307.91)
           
NET INCOME/(LOSS)  $(100,111.88)  $336,691.97 

 

 

 

IMAGENETIX INC /NV/ Reports