Tootie Pie Company, Inc. - FORM 8-K - EX-99.1 - EXHIBIT 99.1 - February 27, 2014

Attached files

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8-K - CURRENT REPORT - Tootie Pie Company, Inc.form8k.htm
EX-99.3 - EXHIBIT 99.3 - Tootie Pie Company, Inc.ex99-3.htm
EX-99.2 - EXHIBIT 99.2 - Tootie Pie Company, Inc.ex99-2.htm

 

IN THE UNITED STATES BANKRUPTCY COURT

FOR THE WESTERN DISTRICT OF TEXAS

SAN ANTONIO DIVISION

 

In re: § Chapter 11
  §  
TOOTIE PIE COMPANY, INC. D/B/A § Case No. 13-51808
TOOTIE GOURMET PIE CAFÉ §  
  §  
Debtor §  

 

DEBTOR TOOTIE PIE COMPANY, INC.’S FIRST SUPPLEMENT TO DEBTOR’S
FIRST AMENDED DISCLOSURE STATEMENT DATED FEBRUARY 14, 2014

 

Debtor, Tootie Pie Company, Inc. hereby files this First Supplement to Debtor’s First Amended Disclosure Statement Dated February 14, 2014 (“Supplement”) and shows:

 

Debtor’s first amended disclosure statement was filed on February 14, 2014 (“First Amended Disclosure Statement”). Debtor’s First Amended Disclosure Statement contained its projected earnings and expenses via an attachment.1 Attached as Exhibit “A” to this Supplement are revised projected earnings and expenses that wholly replace Exhibit “G” to Debtor’s First Amended Disclosure Statement.

 

The purpose of the revised projections is to give creditors and parties in interest a more accurate understanding of Debtor’s financial situation particularly in regard to the months surrounding confirmation. Originally, Debtor projected a small net profit for January 2014. However, several factors contributed to a significant net loss, which is likely to continue through spring 2014. The most prominent issue is that two very large purchase orders were held up because Debtor is still in Chapter 11. It is Debtor’s understanding that upon confirmation the orders will continue. Second, there was a third payroll run in January, and Debtor had expenses carry forward from December. Third, wholesalers did not get the 8 inch pies into their systems for ordering until recently and Café sales decreased significantly until the company added new “Groupons” and Amazon Local coupons. Finally, expenses related to the bankruptcy case were paid.

 

1 Exhibit “G” to Debtor’s First Amended Plan

 

 
 

  

In the coming months, Debtor will continue to have significant bankruptcy related expenses consisting of 1) bankruptcy legal fees; 2) legal fees and costs related to bringing the company within SEC compliance; 3) accounting fees both for general accounting and accounting related to bringing the company within SEC compliance; and 4) administrative expenses.

 

Because many of these expenses need to be paid prior to confirmation, Debtor is filing contemporaneously with this Supplement an expedited motion requesting debtor-in-possession financing on an unsecured basis but with administrative priority in the amount of up to approximately $172,000 at 7% interest. While this loan will increase the amount of administrative debt on the estate, the lenders, which consist of the purchasers of the TCA Claim, agree to convert the Debt to preferred stock upon confirmation under the same terms given to new investment dollars brought in post confirmation.

 

Next, GRS Solutions, LLC, a company owned by Brian Gile, provided purchase order financing during the bankruptcy. Approximately $120,000 to $148,000 of the funds have not been repaid because 1) the funds were used toward company operations or 2) certain purchase orders failed. To the extent there are outstanding receivables owed to GRS Solutions, LLC at the time of confirmation, GRS Solutions, LLC has agreed to convert the amount owed in principal and interest to an unsecured 2 year promissory note at 8% interest with the right to convert the outstanding principal and interest to preferred stock under the same terms given to new investment dollars brought in post confirmation for a period of 12 months following the effective date of the plan. Debtor is preparing a motion for Court approval of this arrangement. The estimated amount of this note will be $120,000 to $148,000.

 

 
 

 

Dated: February 27, 2014    
     
  Respectfully submitted,
     
  By: /s/ Leslie E. Doss  
    Leslie E. Doss, President,
    Tootie Pie Company, Inc.
     
  By: /s/ Ronald J. Smeberg
    Ronald J. Smeberg, Attorney for Debtor
     
    State Bar No. 24033967
    11550 IH 10 West, Suite 180
    San Antonio, Texas 78230
    210-695-6684 (Tel)
    210-598-7357 (Fax)
    ATTORNEY FOR DEBTOR

 

 
 

 

CERTIFICATE OF SERVICE

 

I hereby certify that on February 27, 2014, true and correct copies of the attached was served upon the attached service list by first class mail postage prepaid.

 

  By: /s/ Ronald J. Smeberg

 

 
 

 

                                                             
TOOTIE PIE CO                                                            
Proforma Budget for Tens Years                                                            
For the Eight Months Ending March 31, 2014                                                            
With Apples                                                            
                              Year to Date   Year to Date   Year to Date   Year to Date   Year to Date   Year to Date   Year to Date   Year to Date 
    September 2013    October 2013    November 2013    December 2013    January 2014    February 2014    March 2014    April 2014    May 2014    June 2014     "CY 2014"      FY 2015     FY 2016     FY 2017      FY 2018      FY 2019      FY 2020      FY 2021  
Revenues                                                                                          
Pie Sales - Internet  $7,010   $3,952   $55,000   $23,000   $1,024   $4,500   $7,500   $8,250   $8,750   $9,250   $128,236   $232,267   $240,397   $248,811   $257,519   $266,532   $275,861   $285,516 
Pie Sales-Mail/Ph Order-Boerne  $-   $(1,798)  $75   $75   $-   $75   $349   $349   $349   $349   $(176)  $(318)  $(329)  $(341)  $(353)  $(365)  $(378)  $(391)
Pie Sales-Quarterly  $165   $33   $316   $759   $-   $790   $158   $158   $158   $158   $2,696   $4,882   $5,053   $5,230   $5,413   $5,603   $5,799   $6,002 
Pie Sales-Half Year  $130   $33   $221   $537   $-   $917   $980   $980   $980   $980   $5,759   $10,431   $10,796   $11,174   $11,565   $11,970   $12,389   $12,822 
Pie Sales-Year Rounder  $787   $629   $917   $601   $-   $506   $569   $569   $569   $569   $5,716   $10,353   $10,715   $11,090   $11,478   $11,880   $12,296   $12,726 
Pie Sales - Walk-in - Boerne  $4,164   $2,853   $22,500   $23,500   $1,400   $2,000   $2,500   $2,500   $2,500   $2,500   $66,417   $120,298   $124,508   $128,866   $133,376   $138,044   $142,876   $147,877 
Pie Sales - Corporate - Boerne  $29,114   $22,847   $22,500   $115,000   $16,592   $2,000   $4,000   $7,500   $8,500   $9,500   $237,553   $430,268   $445,327   $460,914   $477,046   $493,742   $511,023   $528,909 
Sales - Huebner  $19,611   $27,024   $22,500   $22,500   $9,100   $12,500   $13,750   $14,750   $15,750   $17,750   $175,235   $317,394   $328,503   $340,001   $351,901   $364,217   $376,965   $390,159 
Sales - Austin Arboretum  $15,362   $19,527   $29,456   $26,573   $5,265   $11,250   $12,250   $13,250   $14,250   $15,252   $162,435   $294,210   $304,507   $315,165   $326,195   $337,612   $349,429   $361,659 
Sales - Heights  $15,264   $19,862   $24,750   $27,228   $4,505   $9,750   $10,250   $11,250   $13,250   $14,250   $150,359   $272,338   $281,870   $291,736   $301,947   $312,515   $323,453   $334,774 
Pie Sales - Employee  $-   $35   $-   $-   $-   $-   $-   $-   $-   $-   $35   $63   $66   $68   $70   $73   $75   $78 
Pie Sales - Shipping Resends  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Pie Sales - BEK - SA  $9,363   $29,180   $35,000   $-   $16,750   $12,500   $15,000   $19,750   $21,500   $22,500   $181,543   $328,820   $340,328   $352,240   $364,568   $377,328   $390,535   $404,203 
Pie Sales - BEK-FW  $-   $-   $-   $-   $-   $1,250   $2,250   $2,250   $2,250   $2,250   $10,250   $18,565   $19,215   $19,888   $20,584   $21,304   $22,050   $22,822 
Pie Sales - BEK-Albuquerque  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Pie Sales - BEK-Oklahoma  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
 Pie Sales - BEK- Amarillo  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Pie Sales - Grocery/HEB  $-   $10,594   $-   $-   $-   $-   $-   $-   $-   $-   $10,594   $19,188   $19,860   $20,555   $21,275   $22,019   $22,790   $23,587 
Pie Sales - PFG Temple  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Pie Sales - Private Label  $-   $-   $-   $-   $-   $-   $-   $5,500   $10,500   $12,500   $28,500   $51,621   $53,427   $55,297   $57,233   $59,236   $61,309   $63,455 
Pie Sales - Cheney - Ocala  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Pie Sales - MartinPref-Houston  $779   $1,701   $1,701   $-   $-   $-   $2,240   $2,250   $2,750   $2,350   $13,771   $24,943   $25,816   $26,719   $27,654   $28,622   $29,624   $30,661 
Pie Sales - Reinhart  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Pie Sales - Sysco-SA  $-   $-   $-   $3,750   $-   $3,985   $1,000   $1,000   $1,000   $1,000   $11,735   $21,255   $21,999   $22,769   $23,566   $24,391   $25,244   $26,128 
Pie Sales - Sysco - Austin  $-   $-   $-   $-   $-   $-   $-   $780   $780   $780   $2,340   $4,238   $4,387   $4,540   $4,699   $4,864   $5,034   $5,210 
Pie Sales - Sysco - Houston  $2,656   $1,403   $2,500   $-   $-   $1,500   $1,251   $1,251   $1,251   $1,251   $13,063   $23,661   $24,489   $25,346   $26,233   $27,151   $28,101   $29,085 
Pie Sales - Sysco - Dallas  $-   $-   $3,000   $-   $-   $-   $-   $1,500   $1,500   $1,500   $7,500   $13,584   $14,060   $14,552   $15,061   $15,588   $16,134   $16,699 
Pie Sales - Sysco - St. Louis  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Pie Sales - Sysco - Jackson  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Pie Sales - Sysco -East Texas  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Pie Sales - Sysco - Oklahoma  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Pie Sales - Toyota  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-        $243,695   $252,224   $261,052   $270,189   $279,646   $289,433   $299,563 
Pie Sales -Airgas  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $546,150   $565,265   $585,050   $605,526   $626,720   $648,655   $671,358 
Pie Sales - End User - Direct  $-   $-   $-   $9,000   $-   $48   $-   $-   $-   $-   $9,048   $18,729   $19,384   $20,063   $20,765   $21,492   $22,244   $23,022 
Pie Sales - Catalog-Wholesale  $104   $104   $-   $1,250   $-   $200   $200   $200   $200   $200   $2,458   $5,088   $5,266   $5,450   $5,641   $5,839   $6,043   $6,255 
Franchise Sales  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $270,000   $303,750   $341,719   $384,434   $432,488   $486,549   $547,367 
Franchise Royalty Fees  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $16,200   $18,225   $20,503   $23,066   $25,949   $29,193   $32,842 
Franchise Start Fees  $-   $-   $-        $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Other Income  $(390)  $(577)  $-   $-   $-   $-   $-   $-   $-   $-   $(967)  $(1,001)  $(1,036)  $(1,072)  $(1,110)  $(1,148)  $(1,189)  $(1,230)
Packaging Fee Income  $75   $-   $1,610   $400   $-   $175   $175   $175   $175   $175   $2,960   $3,064   $3,171   $3,282   $3,397   $3,516   $3,639   $3,766 
Shipping Charges Reimbursed  $3,441   $13,451   $18,000   $35,000   $5,870   $1,250   $1,050   $1,050   $1,050   $1,050   $81,212   $105,068   $108,745   $112,551   $116,491   $120,568   $124,788   $129,155 
Wholesale Shipping Reimb  $-   $-   $379   $274        $854   $750   $750   $750   $750   $4,507   $4,665   $4,828   $4,997   $5,172   $5,353   $5,540   $5,734 
                                                                                           
Total Revenues  $107,635   $150,853   $240,425   $289,447   $60,506   $66,050   $76,223   $96,013   $108,763   $116,865   $1,312,779   $3,409,719   $3,554,818   $3,708,214   $3,870,601   $4,042,747   $4,225,503   $4,419,812 

 

 
 

  

Cost of Sales                                                                                          
Cost of Goods Sold - Boerne  $16,723   $44,160   $40,612   $65,389   $7,606   $4,315   $6,423   $8,123   $8,723   $9,323   $178,480   $322,492   $334,587   $346,298   $358,418   $370,963   $383,946   $397,384 
Cost of Goods Sold - BEK  $-   $-   $21,000   $-   $10,050   $8,250   $10,350   $13,200   $14,250   $14,850   $91,950   $166,142   $171,542   $177,117   $182,873   $188,817   $194,953   $201,289 
Cost of Goods Sold - SYSCO ETC  $-   $-   $3,961   $7,700   $-   $3,153   $2,580   $6,865   $9,890   $10,770   $44,917   $49,855   $51,476   $53,149   $54,876   $56,659   $58,501   $60,402 
Cost of Goods Sold - Toyota  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $97,478   $100,890   $104,421   $108,076   $111,858   $115,773   $119,825 
Cost of Goods Sold - Air Gas  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $218,460   $226,106   $234,020   $242,211   $250,688   $259,462   $268,543 
Cost of Goods Sold - Huebner  $5,552   $6,995   $8,550   $8,550   $3,926   $4,750   $5,225   $5,605   $5,985   $6,745   $61,883   $111,815   $115,449   $119,201   $123,075   $127,075   $131,205   $135,469 
Cost of Goods Sold - Austin Arboretum  $4,797   $7,454   $11,193   $10,098   $2,745   $4,275   $4,655   $5,035   $5,415   $5,796   $61,463   $111,055   $114,665   $118,391   $122,239   $126,212   $130,313   $134,549 
Cost of Goods Sold - Heights  $4,234   $6,039   $9,405   $10,347   $4,444   $3,705   $3,895   $4,275   $5,035   $5,415   $56,794   $102,619   $105,954   $109,398   $112,953   $116,624   $120,415   $124,328 
Inventory Adjustment  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Franchise Cost of Goods Sold  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $162,000   $182,250   $205,031   $230,660   $259,493   $291,929   $328,420 
Manufacturing - Rejects  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Manufacturing - Testing  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Manufacturing Equip Expense  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Raw Material Storage Expense  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Raw Material Freight Expense  $-   $-   $-   $3,557   $-   $-   $-   $-   $-   $-   $3,557   $6,427   $6,636   $6,852   $7,074   $7,304   $7,542   $7,787 
Cleaning Supplies - Boerne  $-   $-   $200   $322   $91   $50   $-   $-   $325   $-   $987   $1,784   $1,842   $1,901   $1,963   $2,027   $2,093   $2,161 
Laundry and Cleaning Exp  $-   $57   $359   $133   $99   $99   $25   $25   $25   $25   $845   $1,526   $1,576   $1,627   $1,680   $1,735   $1,791   $1,849 
Cooking Supplies - Boerne  $-   $-   $1,009   $570   $236   $250   $250   $250   $250   $250   $3,065   $5,538   $5,717   $5,903   $6,095   $6,293   $6,498   $6,709 
Cooking Supplies - Retail  $-   $-   $2   $2,533   $70   $363   $60   $60   $60   $60   $3,208   $5,796   $5,985   $6,179   $6,380   $6,587   $6,801   $7,022 
Direct Manf. Labor - Boerne  $7,589   $10,462   $1,875   $9,750   $26,604   $6,750   $6,250   $6,050   $4,250   $-   $79,580   $102,708   $106,046   $109,492   $113,051   $116,725   $120,519   $124,436 
Consulting Ser - Manufacturing  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Indirect Labor Costs-Admin  $-   $3,467   $-   $-   $-   $-   $-   $-   $-   $-   $3,467   $4,475   $4,620   $4,770   $4,925   $5,085   $5,251   $5,421 
Indirect Labor Costs-Cleaning  $-   $-   $757   $556   $108   $201   $175   $175   $175   $-   $2,146   $2,770   $2,860   $2,952   $3,048   $3,148   $3,250   $3,355 
Maint - Man. Equip - Boerne  $-   $-   $-   $1,057   $114   $824   $1,747   $1,747   $1,747   $1,747   $8,983   $16,232   $16,759   $17,304   $17,866   $18,447   $19,046   $19,665 
Packaging Expense - Retail  $-   $-   $777   $2,209   $282   $1,000   $1,250   $1,250   $1,250   $1,250   $9,268   $16,746   $17,291   $17,853   $18,433   $19,032   $19,650   $20,289 
Rent - Manufacturing  $3,618   $3,618   $3,618   $3,618   $3,618   $3,618   $3,618   $3,618   $3,618   $3,618   $36,180   $65,373   $67,497   $69,691   $71,956   $74,295   $76,709   $79,202 
Trash Removal - Boerne  $736   $-   $268   $300   $268   $129   $167   $167   $167   $167   $2,369   $4,281   $4,420   $4,563   $4,712   $4,865   $5,023   $5,186 
Utilities Exp - Man.- Boerne  $-   $1,171   $890   $899   $665   $656   $1,199   $489   $489   $489   $6,946   $12,551   $12,959   $13,380   $13,815   $14,264   $14,728   $15,206 
Utilities Exp-Manf-Water/Sewer  $323   $105   $127   $139   $86   $86   $245   $225   $225   $225   $1,785   $3,226   $3,331   $3,439   $3,551   $3,666   $3,785   $3,908 
Propane Exp - Boerne  $-   $506   $81   $591   $-   $-   $-   $-   $-   $-   $1,178   $2,128   $2,197   $2,268   $2,342   $2,418   $2,497   $2,578 
Pest Control Services  $-   $-   $86   $86   $86   $86   $86   $86   $86   $86   $684   $1,236   $1,276   $1,318   $1,361   $1,405   $1,451   $1,498 
Dep - Manufacturing Equip.  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Depreciation Exp - Bldg.  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
                                                                                           
Total Cost of Sales  $43,572   $84,034   $104,769   $128,402   $61,096   $42,558   $48,199   $57,243   $61,963   $60,814   $692,651   $1,594,712   $1,663,929   $1,736,519   $1,813,633   $1,895,684   $1,983,130   $2,076,483 
                                                                                           
Gross Profit  $64,063   $66,819   $135,656   $161,045   $(590)  $23,492   $28,024   $38,769   $46,799   $56,050   $620,128   $1,815,008   $1,890,889   $1,971,695   $2,056,969   $2,147,064   $2,242,373   $2,343,329 

 

 

 
 

 

Expenses                                                                                          
Finished Inv Storage Exp - SA  $220   $220   $1,629   $987   $1,294   $250   $200   $200   $200   $200   $5,399   $9,755   $10,048   $10,349   $10,660   $10,980   $11,309   $11,648 
Cleaning Supplies - Retail  $-   $-   $352   $2,054   $-   $-   $81   $81   $81   $81   $2,732   $4,936   $5,084   $5,237   $5,394   $5,556   $5,722   $5,894 
Laundry and Clean- Exp -Retail  $208   $208   $29   $185   $-   $-   $-   $-   $-   $-   $631   $1,140   $1,174   $1,209   $1,245   $1,283   $1,321   $1,361 
Finished Inv Storage - FW  $-   $-   $-   $-   $2,553   $-   $-   $-   $-   $-   $2,553   $4,613   $4,751   $4,894   $5,041   $5,192   $5,348   $5,508 
Indirect Labor Costs-Giftwrap  $-   $211   $331   $497   $-   $-   $-   $-   $-   $-   $1,038   $1,876   $1,932   $1,990   $2,050   $2,111   $2,175   $2,240 
Indirect Labor Costs-Packaging  $606   $2,464   $-   $-   $-   $-   $-   $-   $-   $-   $3,070   $5,547   $5,714   $5,885   $6,061   $6,243   $6,431   $6,624 
Gift Wrapping Material  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Packaging Expense - Boerne  $2,528   $5,128   $1,989   $674   $250   $250   $250   $250   $250   $250   $11,819   $21,355   $21,996   $22,656   $23,335   $24,035   $24,756   $25,499 
Dep - Furniture/Fixture Retail  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Sales - Sal&Wag - Boerne  $4,521   $1,897   $3,000   $3,000   $3,000   $4,750   $4,750   $4,750   $4,750   $4,750   $39,168   $70,772   $72,895   $75,082   $77,334   $79,654   $82,044   $84,505 
Sales - Sal&Wag - Retail  $780   $-   $3,300   $3,300   $3,300   $-   $-   $-   $-   $-   $10,680   $19,297   $19,876   $20,473   $21,087   $21,719   $22,371   $23,042 
Stock Based Comp - Sales / Mkt  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Stock Option Comp - Sales / Mkt  $-   $-   $-     .    $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Dist. Exp - Frght/WholSlRembrs  $598   $-   $1,423   $817   $266   $845   $750   $750   $750   $750   $6,948   $12,555   $12,931   $13,319   $13,719   $14,130   $14,554   $14,991 
Dist. Exp - Dep.WebsiteSoftwar  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Dist. Exp - Dep. Package Equip  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Payroll-Huebner  $5,734   $6,298   $5,250   $5,250   $4,250   $5,150   $4,450   $4,250   $4,250   $4,250   $49,132   $88,775   $91,439   $94,182   $97,007   $99,917   $102,915   $106,002 
Payroll-Austin Arboretum  $5,192   $5,058   $5,575   $5,575   $4,575   $5,757   $4,775   $4,575   $4,575   $4,575   $50,232   $90,763   $93,486   $96,290   $99,179   $102,154   $105,219   $108,376 
Payroll- Heights  $6,139   $5,908   $5,975   $5,975   $4,275   $4,750   $4,375   $4,275   $4,275   $4,275   $50,222   $90,745   $93,467   $96,271   $99,159   $102,134   $105,198   $108,354 
Rent or Lease Expense-Huebner  $3,274   $3,274   $3,348   $3,348   $3,348   $3,348   $3,348   $3,348   $3,348   $3,348   $33,332   $40,176   $41,381   $42,622   $43,901   $45,218   $46,574   $47,972 
Rent or Lease Expense-Austin Arboretum  $4,858   $4,747   $5,889   $5,889   $5,889   $5,889   $5,889   $5,889   $5,889   $5,889   $56,713   $70,662   $72,782   $74,966   $77,215   $79,531   $81,917   $84,374 
Rent or Lease Expense- Heights  $3,463   $3,463   $3,741   $3,741   $3,741   $3,741   $3,741   $3,741   $3,741   $3,741   $36,854   $44,892   $46,239   $47,626   $49,055   $50,526   $52,042   $53,603 
Utilities Expense - Huebner  $943   $-   $621   $666   $817   $1,178   $800   $800   $800   $800   $7,426   $9,603   $9,891   $10,188   $10,493   $10,808   $11,132   $11,466 
Utilities Expense - Austin Arboretum  $1,591   $398   $621   $666   $3,051   $1,298   $800   $800   $800   $800   $10,826   $9,603   $9,891   $10,188   $10,493   $10,808   $11,132   $11,466 
Utilities Expense - Heights  $1,233   $261   $621   $666   $1,057   $1,375   $800   $800   $800   $800   $8,414   $9,603   $9,891   $10,188   $10,493   $10,808   $11,132   $11,466 
Depreciate - Retail Selling Eq  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Lease Expense - Retail Equip  $65   $250   $-   $-   $-   $-   $-   $-   $-   $-   $315   $569   $586   $604   $622   $641   $660   $680 
Store Decorations  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Dist. Exp - Shipping/Mkting  $257   $3,140   $246   $885   $471   $775   $760   $760   $760   $760   $8,814   $15,926   $16,404   $16,896   $17,403   $17,925   $18,462   $19,016 
Dist. Exp - Shipping/Retail  $5,138   $13,451   $2,604   $35,000   $9,570   $1,375   $1,050   $1,050   $1,050   $1,050   $71,338   $92,071   $94,833   $97,678   $100,608   $103,626   $106,735   $109,937 
Dist. Exp - Merchant/CC Fees  $81   $1,790   $1,550   $15,345   $6,370   $1,875   $2,130   $2,130   $2,130   $2,130   $35,533   $64,204   $66,130   $68,114   $70,157   $72,262   $74,430   $76,662 
Dist. Exp - Subscriptions  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-        $-   $-   $-   $-   $-   $-   $- 
                                                                                           
Total Selling Expenses  $47,429   $58,166   $48,093   $94,520   $58,076   $42,605   $38,950   $38,450   $38,450   $38,450   $503,189   $779,437   $802,820   $826,905   $851,712   $877,263   $903,581   $930,688 

  

 
 

 

General & Admin. Expenses                                                                                          
Advertising Expense  $-   $-   $-   $-   $851   $-   $-   $-   $-   $-   $851   $5,000    5250    5513    5788    6078    6381    6700 
Amortization Expense  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-    0   $-   $-   $-   $-   $- 
Auto Expense  $87   $500   $211   $500   $748   $500   $500   $500   $500   $500   $4,546   $8,214   $8,460   $8,714   $8,976   $9,245   $9,522   $9,808 
Bank Charges  $78   $40   $50   $40   $40   $40   $40   $40   $40   $40   $448   $809   $834   $859   $885   $911   $938   $967 
Compliance Expense - Boerne  $12   $12   $-   $428   $12   $276   $12   $12   $12   $12   $788   $1,424   $1,467   $1,511   $1,556   $1,603   $1,651   $1,700 
Computer/Network Support  $147   $377   $2,069   $99   $6,581   $1,275   $1,350   $295   $295   $295   $12,782   $23,096   $23,789   $24,503   $25,238   $25,995   $26,775   $27,578 
Computer/Netwrk Support Retail  $20   $50   $20   $50   $250   $250   $250   $250   $250   $250   $1,640   $2,963   $3,052   $3,144   $3,238   $3,335   $3,435   $3,538 
Copying Expense  $-   $-   $-   $-   $-   $7   $-   $-   $-   $-   $7   $12   $13   $13   $13   $14   $14   $15 
Dues and Subscriptions Exp  $-   $280   $-   $-   $-   $158   $136   $136   $136   $136   $982   $1,774   $1,827   $1,882   $1,938   $1,996   $2,056   $2,118 
Equipment Expense - Boerne  $812   $500   $608   $500   $500   $200   $200   $200   $200   $200   $3,920   $7,083   $7,295   $7,514   $7,740   $7,972   $8,211   $8,457 
Equipment Expense - Huebner  $186   $200   $-   $200   $200   $200   $200   $200   $200   $200   $1,786   $3,227   $3,324   $3,424   $3,526   $3,632   $3,741   $3,853 
Equipment Expense - Austin Arboretum  $-   $200   $-   $200   $200   $200   $200   $200   $200   $200   $1,600   $2,891   $2,978   $3,067   $3,159   $3,254   $3,351   $3,452 
Equipment Expense - Heights  $407   $200   $-   $200   $200   $200   $200   $200   $200   $200   $2,007   $3,626   $3,735   $3,847   $3,963   $4,082   $4,204   $4,330 
Freight Expense  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Insurance Expense  $816   $6   $39   $12   $6   $6   $6   $6   $6   $6   $909   $1,642   $1,692   $1,742   $1,795   $1,849   $1,904   $1,961 
Insurance Exp - Bus.Owners  $-   $555   $555   $555   $659   $555   $555   $555   $555   $555   $5,099   $9,213   $9,490   $9,774   $10,068   $10,370   $10,681   $11,001 
Insurance Exp - Work. Comp.  $-   $1,585   $-   $2,035   $2,552   $1,176   $1,076   $1,076   $1,076   $1,076   $11,654   $21,057   $21,688   $22,339   $23,009   $23,699   $24,410   $25,143 
Interest Expense - Boerne  $-   $938   $1,000   $938   $-   $-   $-   $-   $-   $-   $2,875   $5,195   $5,351   $5,511   $5,676   $5,847   $6,022   $6,203 
Principal and Interest Exp - TCA  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Interest Expense - Boerne  $-   $-   $-   $-   $-   $-   $6,000   $6,000   $6,000   $6,000   $24,000   $43,365   $44,666   $46,006   $47,386   $48,808   $50,272   $51,780 
Trustee Fees  $-   $-   $-   $-   $4,875   $-   $-   $-   $-   $4,875   $9,750   $19,500   $-   $-   $-   $-   $-   $- 
Internet Expense- Retail  $-   $-   $-   $504   $281   $267   $307   $307   $307   $307   $2,281   $4,122   $4,246   $4,373   $4,504   $4,640   $4,779   $4,922 
Investor Relations - Boerne  $-   $-   $-   $-   $2,543   $-   $-   $-   $-   $-   $2,543   $4,595   $4,733   $4,875   $5,021   $5,172   $5,327   $5,487 
Senior Management Salary/Fees  $5,967   $5,490   $10,500   $10,500   $8,500   $10,500   $10,500   $10,500   $10,500   $10,500   $93,457   $168,865   $173,931   $179,149   $184,523   $190,059   $195,761   $201,634 
Legal and Professional Expense  $-   $1,218   $4,000   $4,000   $22,756   $25,000   $15,000   $4,000   $4,000   $4,000   $83,974   $151,731   $156,282   $160,971   $165,800   $170,774   $175,897   $181,174 
Licenses, Fees & Permits Exp  $1,254   $410   $1,244   $501   $472   $321   $386   $386   $386   $386   $5,746   $10,382   $10,693   $11,014   $11,344   $11,685   $12,035   $12,396 
Maintenance - Building/Grounds  $453   $-   $735   $-   $-   $-   $-   $-   $-   $-   $1,188   $2,147   $2,211   $2,278   $2,346   $2,417   $2,489   $2,564 
Maintenance - Building -Retail  $-   $-   $300   $300   $300   $300   $300   $300   $300   $300   $2,400   $4,337   $4,467   $4,601   $4,739   $4,881   $5,027   $5,178 
Maintenance - Office Equip  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Meals and Entertainment Exp  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Office Decorations  $-   $-   $-   $-   $20   $-   $45   $45   $45   $45   $199   $360   $370   $382   $393   $405   $417   $429 
Office Supplies Exp - Boerne  $52   $642   $1,201   $1,813   $163   $226   $85   $85   $85   $85   $4,437   $8,016   $8,257   $8,505   $8,760   $9,023   $9,293   $9,572 
Office Supplies Exp - Retail  $-   $100   $100   $100   $100   $100   $100   $100   $100   $100   $900   $1,626   $1,675   $1,725   $1,777   $1,830   $1,885   $1,942 
Office Equipment Exp - Boerne  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Office Equipment Lease -Boerne  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Payroll - Admin Salaries  $-   $-   $6,500   $6,500   $6,500   $6,500   $6,500   $6,500   $6,500   $6,500   $52,000   $93,958   $96,776   $99,680   $102,670   $105,750   $108,922   $112,190 
Payroll Admin Expense  $-   $-   $-   $-   $3,500   $3,500   $3,500   $3,500   $3,500   $3,500   $21,000   $37,944   $39,083   $40,255   $41,463   $42,707   $43,988   $45,308 
Payroll Tax Expense  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
SUTA Expense - Texas  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Penalty Expense  $292   $-   $-   $-   $-   $-   $-   $-   $-   $-   $292   $528   $543   $560   $577   $594   $612   $630 
Pest Control Services- Retail  $92   $252   $300   $300   $300   $300   $300   $300   $300   $300   $2,744   $4,958   $5,107   $5,260   $5,418   $5,580   $5,748   $5,920 
Postage Expense  $253   $-   $15   $53   $104   $65   $15   $15   $15   $15   $552   $998   $1,028   $1,059   $1,090   $1,123   $1,157   $1,192 
Press Release Exp       $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Rent or Lease Expense  $753   $753   $-   $-   $5,619                            $7,125   $7,357   $7,577   $7,805   $8,039   $8,280   $8,528   $8,784 
Retail Administration Expense  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Retail Business Develop Exp  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Tax - Property - Medina  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Tax - Property - Boerne  $-   $-   $150   $137   $-   $-   $-   $-   $-   $-   $286   $518   $533   $549   $566   $582   $600   $618 
Tax - Property - Bexar  $-   $-   $107   $1,160   $-   $-   $-   $-   $-   $-   $1,266   $2,288   $2,357   $2,427   $2,500   $2,575   $2,652   $2,732 
Tax - Property - Tarrant  $-   $-   $42   $42   $-   $-   $-   $-   $-   $-   $83   $151   $155   $160   $165   $170   $175   $180 
Telephone Service - Boerne  $576   $576   $516   $516   $550   $581   $555   $555   $555   $555   $5,532   $9,995   $10,295   $10,604   $10,922   $11,250   $11,587   $11,935 
Telephone Service - Retail  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
Telephone Exp - Cell Phone  $-   $-   $100   $100   $100   $100   $100   $100   $100   $100   $800   $1,446   $1,489   $1,534   $1,580   $1,627   $1,676   $1,726 
Travel Expense - Boerne  $-   $275   $250   $250   $250   $250   $250   $250   $250   $250   $2,275   $4,111   $4,234   $4,361   $4,492   $4,627   $4,765   $4,908 
TCA USAGE FEES  $2,000   $-   $-   $-   $13,765   $-   $-   $-   $-   $-   $15,765   $-   $-   $-   $-   $-   $-   $- 
Utilities Expense  $337   $368   $281   $295   $310   $275   $257   $257   $257   $257   $2,894   $5,230   $5,387   $5,548   $5,715   $5,886   $6,063   $6,245 
Utilities Deposits                                                         $-   $-   $-   $-   $-   $-   $- 
Total G&A Exp  $14,594   $15,526   $30,892   $32,826   $83,806   $53,327   $48,925   $36,870   $36,870   $41,745   $395,384   $714,409   $686,340   $707,035   $728,356   $750,322   $772,954   $796,270 
                                                          $-                               
Tax - Margin  $-   $-        $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $- 
        $-                                                $-                               
Total Other Income  $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-   $-    2150   $2,150   $2,150   $2,150   $2,150   $2,150 
                                                                                           
                                                                                           
                                                                                           
Cash Flow  $2,040   $(6,873)  $56,671   $33,698   $(142,472)  $(72,441)  $(59,852)  $(36,551)  $(28,521)  $(24,145)  $(278,445)  $321,161   $399,579   $435,606   $474,751   $517,328   $563,688   $614,220 

 

 Major Factors associated with the corrected numbers:

 1. COGS accurately for the fab five (apple, buttermilk, heavenly chocolate, both pecans and pumpkin) is $14.37.

 2. COGS for the stores pies is now $24.00 from BEK and are in the spreadsheet                                                                                      

                         

 
 

 

 

 

Tootie Pie Company, Inc. Reports