Global Geophysical Services Inc - FORM 8-K - EX-99.1 - EXHIBIT 99.1 - June 25, 2014

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Exhibit 99.1
 
    UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF TEXAS
CORPUS CHRISTI DIVISION
               
CASE NAME:
AUTOSEIS, INC. ET AL
      
PETITION DATE:
3/25/2014
  
CASE NUMBER:
14-20130
            
               
               
MONTHLY OPERATING REPORT SUMMARY FOR MONTH
  
May
YEAR
2014
(Amounts in '000s)
        
                        MONTH
3/25/14 TO 3/31/14
April
May
June
July
Total
REVENUES (MOR-6)
                          2,832
                        37,350
                               23,761
                                -
                                  -
                               63,944
INCOME BEFORE INT; DEPREC./TAX (MOR-6)
                        (2,733)
                        (2,440)
                              (14,323)
                                -
                                  -
                             (19,496)
NET INCOME (LOSS) (MOR-6)
                        (4,040)
                      (19,277)
                              (18,174)
                                -
                                  -
                             (41,491)
PAYMENTS TO INSIDERS (MOR-9)
                                  -
                             260
                                    322
                                -
                                  -
                                    581
PAYMENTS TO PROFESSIONALS (MOR-9)
                               19
                          1,561
                                 1,449
                                -
                                  -
                                 3,029
TOTAL DISBURSEMENTS (MOR-7 and Exhibit A) **
                          5,565
                      117,086
                               24,061
                                -
                                  -
                             146,712
               
**The jointly administered Debtors are authorized to file monthly operating reports on a consolidated basis, and have disbursements broken down by case number on Exhibit A attached**
***The original of this document must be filed with the United States Bankruptcy Court***
           
Yes / No
  
REQUIRED INSURANCE MAINTAINED
  
  Are all accounts receivable being collected within terms?
No
  
      AS OF SIGNATURE DATE
EXP.
  Are all post-petition liabilities, including taxes, being paid within terms?
No
  
________________________________
DATE
  Have any pre-petition liabilities been paid?
Yes
  
CASUALTY                  YES (X)  NO (  )
4/1/2015
    If so, describe
Payments related to First Day Motions granted
LIABILITY                    YES (X)  NO (  )
4/1/2015
  Are all funds received being deposited into DIP bank accounts (1)?
No
  
VEHICLE                       YES (X)  NO (  )
4/1/2015
  Were any assets disposed of outside the normal course of business?
No
  
WORKER'S                   YES (X) NO (  )
4/1/2015
    If so, describe
        
OTHER                          YES ( X ) NO (  )
4/1/2015
  Are all U.S. Trustee Quarterly Fee Payments current?
Yes
  
     
  What is the status of your Plan of Reorganization?
 
No Plan Filed
  
               
               
ATTORNEY NAME:
Omar Alaniz
  
          I certify under penalty of perjury that the following complete
    
FIRM NAME:
Baker & Botts
  
         Monthly Operating Report (MOR), consisting of MOR-1 through
    
ADDRESS:
2001 Ross Avenue
  
         MOR-9 plus attachments, is true and correct.
    
               
CITY, STATE, ZIP:
Dallas, TX 75201
  
SIGNED X /s/ Sean M. Gore                                   
 TITLE:
Senior Vice President - Chief Financial Officer
TELEPHONE/FAX:
214.953.6500/214.953.6503
            
       
Sean M. Gore
     6/23/14
     
                       (PRINT NAME OF SIGNATORY)
  
DATE
               
MOR-1
Note:
(1) Collections in certain foreign jurisdictions are received locally and used to make payroll for employees and vendors in those foreign jurisdictions
 
 
 
 
   CASE NAME: 
AUTOSEIS, INC. ET AL
  
   CASE NUMBER: 
14-20130
  
     
     
      COMPARATIVE BALANCE SHEETS
(Amounts in '000s)
ASSETS
  
MONTH
MONTH
MONTH
MONTH
MONTH
  MONTH
   
3/25/14 TO 3/31/14
April
May
      
CURRENT ASSETS
            
Cash - U.S. bank accounts (1)
 $              24,465
 $            41,937
 $            37,561
      
Cash  - non-U.S. bank accounts
                   4,687
                 2,950
                 2,119
      
Restricted cash
  
                      990
                    990
                    990
      
Trade Accounts Receivable, Net
                 20,428
               17,099
               15,699
      
Unbilled Accounts Receivable
                 19,335
               27,876
               28,989
      
Other Accounts Receivable
                        87
                      87
                      87
      
Inventory:  Lower of Cost or Market
                      107
                    107
                    107
      
Prepaid Expenses
                   4,093
                 7,048
                 4,547
      
Investments
  
                          -
                        -
                        -
      
Mobilization costs, net
                 17,110
                 7,972
                 3,994
      
Other
  
                      266
                    266
                      15
      
TOTAL CURRENT ASSETS
                 91,568
             106,331
               94,107
                        -
                        -
                        -
PROPERTY, PLANT & EQUIP. @ COST
340,559
             339,483
             340,271
      
Less Accumulated Depreciation
               267,128
             269,710
             272,209
      
NET BOOK VALUE OF PP & E
                 73,431
               69,773
               68,062
                        -
                        -
                        -
OTHER ASSETS
            
    Tax Deposits
  
                          -
                        -
                        -
      
    Investments in Subsidiaries
                          1
                        1
                        1
      
    Electric Deposit
                          -
                        -
                      30
      
    Investment in multi-client library, net
               182,241
             173,832
             166,435
      
    Intercompany receivable, net
                 69,366
               78,860
               83,529
      
    Goodwill
  
                 10,967
               10,967
               10,967
      
    Intangible assets
                   7,004
                 6,908
                 6,811
      
    Debt issuance costs, net
                   8,940
                 8,571
                 8,168
      
    Deposits and other
                      401
                    422
                    430
      
TOTAL ASSETS
 $            443,919
 $          455,666
 $          438,540
 $                     -
 $                     -
 $                     -
 
 
(1) This subtotal contains the Citibank Argentina account as the funds are controlled by Houston. Balance ties to the total balance on MOR8.
 
<Note 1> The debtor cash balance above is broken out between U.S. bank accounts and non-U.S. bank accounts. The U.S. bank account ties to the Ending Cash per Books on MOR8. MOR8 contains information for the current month for all U.S. bank accounts and is broken out into two categories, accounts where the funds are controlled by Houston Corporate office and other U.S. accounts. The Ending Cash per Books for the first subtotal (accounts where the funds are controlled by Houston Corporate office) on MOR8  ties to the Ending Cash per Books - End of Month on MOR7.  MOR7 contains the activity for accounts where the funds are controlled by Houston Corporate office.
 
MOR-2
Revised 07/01/98
 
 
 
 
   CASE NAME: 
AUTOSEIS, INC. ET AL
  
   CASE NUMBER: 
14-20130
  
     
     
      COMPARATIVE BALANCE SHEETS
(Amounts in '000s)
LIABILITIES & OWNER'S
MONTH
MONTH
MONTH
MONTH
MONTH
  MONTH
EQUITY
  
3/25/14 TO 3/31/14
April
May
      
LIABILITIES
              
POST-PETITION LIABILITIES(MOR-4)
$32,785
$172,846
$178,018
      
PRE-PETITION LIABILITIES
            
Secured Debt
  
               86,498
                 4,386
                 4,081
      
  Federal Income Tax
                        -
                        -
                        -
      
  FICA/Withholding
  
                    583
                        -
                        -
      
  Unsecured Debt
  
             251,225
             253,312
             253,307
      
  Deferred Revenue
  
               23,367
                 6,311
                 2,295
      
  VAT
  
                 2,330
                 2,595
                 2,595
      
  Trade A/P
  
               25,090
               15,769
               13,885
      
  Accrued payroll liabilities
                    719
                        -
                        -
      
  Accrued bond interest
               10,080
               10,514
               10,514
      
  Expense Accruals
  
               10,495
                 3,108
                 2,833
      
  Other
              
TOTAL PRE-PETITION LIABILITIES
             410,387
             295,995
             289,510
      
TOTAL LIABILITIES
             443,172
             468,841
             467,528
                        -
                        -
                        -
OWNER'S EQUITY (DEFICIT)
            
  PREFERRED STOCK
                        -
                        -
                        -
      
  COMMON STOCK
                    500
                    500
                    500
      
  ADDITIONAL PAID-IN CAPITAL
             174,813
             175,531
             176,230
      
  RETAINED EARNINGS:  Filing Date
           (170,526)
           (165,889)
           (164,227)
      
RETAINED EARNINGS: Post Filing Date
(4,040)
             (23,317)
             (41,491)
      
TOTAL OWNER'S EQUITY (NET WORTH)
747
             (13,174)
             (28,988)
                        -
                        -
                        -
TOTAL LIABILITIES & OWNERS EQUITY
$443,919
$455,666
$438,540
 $                     -
 $                     -
 $                     -
 
 
MOR-3
Revised 07/01/98
 
 
 
 
   CASE NAME:
AUTOSEIS, INC. ET AL
  
   CASE NUMBER:
14-20130
  
       
       
       
SCHEDULE OF POST-PETITION LIABILITIES
(Amounts in '000s)
     
MONTH
MONTH
MONTH
MONTH
MONTH
  MONTH
     
3/25/14 TO 3/31/14
April
May
      
TRADE ACCOUNTS PAYABLE
 $                  2,559
 $              3,097
 $              1,975
      
TAX PAYABLE
            
  Federal and State Payroll Taxes
                        389
                    942
                    941
      
  Ad Valorem Taxes
                        173
                    184
                    184
      
  Other Taxes
  
                            -
                        -
                        -
      
SECURED DEBT POST-PETITION
                   25,000
             151,881
             151,881
      
ACCRUED INTEREST PAYABLE
                        602
                      47
                      47
      
ACCRUED PROFESSIONAL FEES* (1)
                            -
                      13
                 5,331
      
OTHER  ACCRUED LIABILITIES
            
 
VAT
  
                          96
                    468
                    380
      
 
Deferred Revenue
                     1,669
                 4,207
                 6,684
      
 
Accrued payroll liabilities
                        480
                 1,672
                 1,226
      
 
Expense Accruals
                     1,817
               10,335
                 9,369
      
                 
TOTAL POST-PETITION LIABILITIES (MOR-3)
 $                32,785
 $          172,846
 $          178,018
 $                     -
 $                     -
 $                     -
*Payment requires Court Approval
 
(1) The Company incurred $530 thousand of post-petition professional fees not accrued as of March 31st and $3.62 million of post-petition professional fees not accrued as of April 30th.
 
MOR-4
  
Revised 07/01/98
 
 
 
 
    CASE NAME:  
AUTOSEIS, INC. ET AL
  
    CASE NUMBER:  
14-20130
  
 
AGING OF POST-PETITION LIABILITIES
MONTH   May 2014
(Amounts in '000s)
DAYS
TOTAL
TRADE
FEDERAL AND STATE
AD VALOREM,
 
   
ACCOUNTS
PAYROLL TAXES
OTHER TAXES
OTHER
0-30
 $                         2,844
 $                         1,718
 $                              941
 $                           184
 $                                -
31-60
257
257
      
61-90
0
        
91+
0
        
TOTAL
 $                         3,101
 $                         1,975
 $                              941
 $                           184
 $                                -
 
 
 
AGING OF ACCOUNTS RECEIVABLE
(Amounts in '000s)
 
MONTH
          
 
March 2014
April 2014
May 2014
    
 0-30 DAYS
 $                       15,625
 $                         9,564
 $                           9,837
    
 31-60 DAYS
                            2,845
                            4,769
                              2,272
    
 61-90 DAYS
                               118
                               624
                              1,750
    
 91+ DAYS
                            1,840
                            2,143
                              1,840
    
TOTAL
 $                       20,428
 $                       17,099
 $                         15,699
 $                                -
 $                                -
 
MOR-5
Revised 07/01/98
 
 
 
 
   CASE NAME: 
AUTOSEIS, INC. ET AL
  
   CASE NUMBER: 
14-20130
  
 
 
STATEMENT OF INCOME (LOSS)
(Amounts in '000s)
   
MONTH
MONTH
MONTH
MONTH
MONTH
FILING TO
   
3/25/14 TO 3/31/14
April
May
    
DATE
REVENUES    (MOR-1)
 $              2,832
 $            37,350
 $            23,761
    
 $            63,944
TOTAL COST OF REVENUES
                 3,378
               23,982
               18,698
    
               46,058
GROSS PROFIT
  
                  (546)
               13,368
                 5,064
                        -
                        -
               17,886
OPERATING EXPENSES:
            
    Selling & Marketing
                    110
                 3,961
                 2,461
    
                 6,532
    General & Administrative
                 1,497
                 1,739
                 2,223
    
                 5,459
    Insiders Compensation
                        -
                    260
                    322
    
                    582
    Professional Fees (1)
                      19
                 1,574
                 6,856
    
                 8,449
    Other - Gain on Fixed Asset Disposal
(243)
                  (134)
                    (17)
    
                   (394)
    Other - Multi-Client Amortization
                    804
                 8,408
                 7,541
    
               16,754
TOTAL OPERATING EXPENSES
                 2,187
               15,808
               19,387
                        -
                        -
               37,382
INCOME BEFORE INT, DEPR/TAX (MOR-1)
(2,733)
               (2,440)
             (14,323)
                        -
                        -
              (19,496)
INTEREST EXPENSE
                    223
                 1,311
                 1,932
    
                 3,467
DEPRECIATION
  
                    922
                 1,863
                 1,549
    
                 4,334
OTHER (INCOME) EXPENSE*
                        -
                        -
                    189
    
                    189
FOREIGN EXCHANGE (GAIN) LOSS
110
                  (373)
                      86
    
                   (177)
LOSS ON DEBT EXTINGUISHMENT
-
               13,594
                        -
    
               13,594
OTHER ITEMS**
  
                        -
                        -
                        -
    
                         -
TOTAL INT, DEPR & OTHER ITEMS
1,255
               16,395
                 3,757
                        -
                        -
               21,407
NET INCOME BEFORE TAXES
               (3,988)
             (18,835)
             (18,080)
                        -
                        -
              (40,903)
INCOME and OTHER TAXES
                      52
                    442
                      94
    
                    588
NET INCOME (LOSS)  (MOR-1)
 $            (4,040)
 $          (19,277)
 $          (18,174)
 $                     -
 $                     -
 $           (41,491)
 
Accrual Accounting Required, Otherwise Footnote with Explanation.
*   Footnote Mandatory.
* * Unusual and/or infrequent item(s) outside the ordinary course of business requires footnote.
 
(1) For March 25-31, the Company incurred an additional $530 thousand of professional fees not reflected in the March period above.  For April, $1.3 million of the $1.5 million relates to professional fees incurred in prior periods. In addition, for April the Company incurred $3.1 million of professional fees during April not reflected in the April period above. Finally, the May professional fee amount includes $4.2 million of professional fees related to prior periods.
 
MOR-6
Revised 07/01/98
 
 
 
 
   CASE NAME: 
AUTOSEIS, INC. ET AL
  
   CASE NUMBER: 
14-20130
  
 
 
(Amounts in '000s)
CASH RECEIPTS AND
 MONTH
 MONTH
 MONTH
 MONTH
 MONTH
 FILING TO
DISBURSEMENTS
  
 3/25/14 TO 3/31/14
 April
 May
    
 DATE
  1. CASH-BEGINNING OF MONTH / PERIOD
 $             2,431
 $         23,451
 $         41,937
 $         36,830
 $         36,830
 $                                    2,431
RECEIPTS:
              
  2.  CASH RECIEPTS FROM REGIONS
                   680
              1,225
                 595
    
                                       2,500
  3.  CASH RECEIPTS FROM CUSTOMERS
                1,674
            10,599
            18,486
    
                                     30,760
  4.  PROCEEDS FROM DIP FUNDING
              24,232
          123,019
      
                                   147,251
  5.  SALE OF ASSETS
                        -
                      -
      
                                               -
  6.  OTHER (attach list)
                        -
                      -
      
                                               -
TOTAL RECEIPTS**
              26,586
          134,843
            19,081
                      -
                      -
                                   180,510
(Withdrawal) Contribution by Individual Debtor MFR-2*
                        -
        
                                               -
DISBURSEMENTS:
            
  7.  CASH REQUESTS FROM REGIONS
                3,175
              2,687
              7,506
    
                                     13,368
  8.  PAYROLL, PER DIEM & BENEFITS
                        -
              5,229
              4,021
    
                                       9,249
  9.  PAYROLL IOM (ISLE OF MAN)
                        -
                 890
                 877
    
                                       1,767
10.  ACCOUNTS PAYABLE (POST PETITION ONLY)
                   150
              6,602
              6,874
    
                                     13,626
11.  SENIOR DEBT INTEREST
                2,222
                      -
                      -
    
                                       2,222
12.  INTEREST/FEES ON ADDITIONAL DEBT
                        -
                 431
              1,419
    
                                       1,850
13. BANKRUPTCY RELATED PAYMENTS (PRE PETITION ONLY) ***
-
              6,820
              1,280
    
                                       8,100
14.  INSURANCE PAYMENTS
                        -
              1,040
                 635
    
                                       1,676
15. TPG LOAN PAYMENT
  
            91,881
                      -
    
                                     91,881
16.  OTHER (attach list)
                        -
                      -
                      -
    
                                               -
TOTAL DISBURSEMENTS FROM OPERATIONS
                5,547
          115,580
            22,611
                      -
                      -
                                   143,738
17.  DEBTOR PROFESSIONAL FEES
                        -
                 883
                 434
    
                                       1,317
18.  DIP LENDER PROFESSIONAL FEES
                     19
                 621
                 740
    
                                       1,379
19.  SENIOR LENDER PROFESSIONAL FEES
                        -
                      -
                      -
    
                                               -
20.  UNSECURED CREDITORS COMMITTEE PROFESSIONAL FEES
                        -
                      -
                 262
    
                                          262
21.  U.S. TRUSTEE FEES
                        -
                     2
                   13
    
                                            15
22.  OTHER REORGANIZATION EXPENSES (attach list)
                        -
                      -
                      -
    
                                               -
TOTAL DISBURSEMENTS**
                5,565
          117,086
            24,061
                      -
                      -
                                   146,712
23.  NET CASH FLOW
              21,021
            17,757
             (4,979)
                      -
                      -
                                     33,799
24.  CASH - END OF MONTH
 $           23,451
 $         41,208
 $         36,957
 $         36,830
 $         36,830
 $                                  36,229
24.  ADJUSTMENTS RELATED TO PRIOR PERIODS
                        -
                 157
                (133)
    
                                            24
25.  UNRECORDED DISBURSEMENTS
                        -
                 572
                   14
    
                                          586
26.  UNRECORDED RECEIPTS
                        -
                      -
                    (8)
      
27.  ENDING CASH PER BOOKS - END OF MONTH (MOR-8)
 $           23,451
 $         41,937
 $         36,830
 $         36,830
 $         36,830
 $                                  36,839
 
 * Applies to Individual debtors only
 **Numbers for the current month should balance (match)
      RECEIPTS and CHECKS/OTHER DISBURSEMENTS lines on MOR-8
***Pre-petition Bankruptcy related payment include payments under Critical Vendor (including Logistics & 503(b)(9) claims), Foreign Vendors, & Wage motion relief related payments
 
[NOTE 1] Cash balance includes accounts where the funds are controlled by Houston Corporate office
[NOTE 2] Receipts and Disbursements include amounts received and sent from Houston Corporate Office
[NOTE 3] May ‘Cash Requests from Regions’ was understated by 53k and, accordingly, ‘Payroll, Per Diem & Benefits’ was overstated by 53k due to clerical error which incorrectly classified funds transferred to the U.S. Land account.
[NOTE 4]  MOR 7 contains the activity for accounts where the funds are controlled by Houston Corporate office. The Ending Cash per Books - End of Month above ties to the Ending Cash per Books for the first subtotal (accounts where the funds are controlled by Houston Corporate office) on MOR8.  MOR8 contains information for the current month for all U.S. bank accounts and is broken out into two categories, accounts where the funds are controlled by Houston Corporate office and other U.S. accounts. The total Ending Cash per Books on MOR8 ties to the Cash - U.S. bank accounts on MOR2.  MOR2 shows the debtor cash balance and is broken out between U.S. bank accounts and non-U.S. bank accounts.
 
MOR-7
 Revised 07/01/98
 
 
 
 
   CASE NAME: AUTOSEIS, INC. ET AL  
   CASE NUMBER:  
14-20130
  
     
       
CASH ACCOUNT RECONCILIATION
    
PERIOD 05/01/2014 - 05/31/2014
    
       
(Amounts in '000s)
    
BANK NAME
  
Bank of America
Bank of America
Bank of America
Bank of America
Bank of America
Bank of America
Bank of America
Bank of America
Bank of America
Bank of America
ACCOUNT NUMBER
  
488 031 266 121
488 031 266 134
488 031 266 147
488 031 266 150
488 031 266 163
488 032 919 590
488 031 266 176
488 035 058 966
488 038 382 972
488 038 414 688
ACCOUNT TYPE
  
Investment
Master
Depository
Operating
Operating
Operating
Operating
Operating
Operating
Operating
BANK BALANCE
  
 $                       0
 $               36,459
 $                       -
 $                       -
 $                       -
 $                   141
 $                       -
 $                       -
 $                     84
 $                       -
DEPOSITS IN TRANSIT
                          -
                          -
                          -
                          -
                          -
                          -
                          -
                          -
                          -
                          -
OUTSTANDING CHECKS
                          -
                          -
                          -
                          -
                      859
                          -
                          -
                          -
                          -
                          -
OTHER
  
                          -
                          -
                         8
                      (20)
                    (248)
                          -
                          -
                        (1)
                        24
                          -
ADJUSTED BANK BALANCE
 $                       0
 $               36,459
 $                     (8)
 $                     20
 $                  (611)
 $                   141
 $                       -
 $                       1
 $                     60
 $                       -
BEGINNING CASH - PER BOOKS
 $                       0
 $               40,672
 $                       -
 $                  (144)
 $                  (475)
 $                     96
 $                       -
 $                     (8)
 $                   198
 $                       -
RECEIPTS* (4)
  
                          -
                          -
                 18,426
                          -
                         1
                        45
                          -
                          -
                          -
                          -
TRANSFERS BETWEEN ACCOUNTS (4)
                          -
                          -
                          -
                          -
                          -
                          -
                          -
                          -
                          -
                          -
TRANSFERS BETWEEN ACCOUNTS (5)
                          -
                  (4,204)
                (18,435)
                   1,951
                 18,456
                          -
                          -
                         9
                          -
                          -
TRANSFERS TO FOREIGN DEBTOR ENTITIES (5)
                          -
                          -
                          -
                          -
                  (6,074)
                          -
                          -
                          -
                          -
                          -
TRANSFERS TO FOREIGN NON-DEBTOR ENTITIES (5)
                          -
                          -
                          -
                          -
                        (2)
                          -
                          -
                          -
                          -
                          -
TRANSFERS FROM FOREIGN DEBTOR ENTITIES (4)
                          -
                          -
                          -
                          -
                          -
                          -
                          -
                          -
                          -
                          -
TRANSFERS FROM FOREIGN NON-DEBTOR ENTITIES (4)
                          -
                          -
                          -
                          -
                          -
                          -
                          -
                          -
                          -
                          -
(WITHDRAWAL) OR      INDIVIDUAL
CONTRIBUTION BY DEBTOR    MFR-2
                          -
                          -
                          -
                          -
                          -
                          -
                          -
                          -
                          -
                          -
CHECKS/OTHER DISBURSEMENTS* (5)
                          -
                          -
                          -
                  (1,697)
                (12,516)
                          -
                          -
                          -
                    (105)
                          -
ADJUSTMENTS RELATED TO OTHER PERIODS
                          -
                        (9)
                          -
                      (89)
                        (1)
                          -
                          -
                          -
                      (34)
                          -
ENDING CASH - PER BOOKS
 $                       0
 $               36,459
 $                     (8)
 $                     20
 $                  (611)
 $                   141
 $                       -
 $                       1
 $                     60
 $                       -
UNRECORDED DISBURSEMENTS (5)
                          -
                      (11)
                          -
                          -
                          -
                          -
                          -
                          -
                          -
                          -
UNRECORDED RECEIPTS (4)
                          -
                          -
                         8
                          -
                          -
                          -
                          -
                          -
                          -
                          -
ADJUSTED ENDING CASH - PER BOOKS
 $                       0
 $               36,448
 $                     (0)
 $                     20
 $                  (611)
 $                   141
 $                       -
 $                       1
 $                     60
 $                       -
 
*Numbers should balance (match) TOTAL RECEIPTS (Includes transfer
to Corporate) and TOTAL DISBURSEMENTS (includes Foreign .
Transfers) lines on MOR-7.
 
(1) This subtotal represents accounts where the funds are controlled by Houston Corporate office; receipts and disbursements tie to MOR-7
(2) This subtotal contains the Citibank Argentina account as the funds are controlled by Houston Corporate office.
(3) This subtotal represents domestic accounts related to payroll disbursement  and operating accounts not directly controlled by Corporate
(4) The sum of these rows for the first subtotal agrees to total receipts on MOR-7
(5) The sum of these rows for the first subtotal agrees to total disbursements on MOR-7
<Note 1>  Citi payroll bank account 3074 4174 has been removed from the May MOR8 scheduled and will not be included going forward. This bank account is a non-debtor bank account and was inadvertently included on the March and April MOR8 schedule.
 
<Note 2>  MOR8 contains information for the current month for all U.S. bank accounts and is broken out into two categories, accounts where the funds are controlled by Houston Corporate office and other U.S. accounts. The total Ending Cash per Books above ties to the Cash - U.S. bank accounts on MOR2.  MOR2 shows the debtor cash balance and is broken out between U.S. bank accounts and non-U.S. bank accounts. The Ending Cash per Books for the first subtotal (accounts where the funds are controlled by Houston Corporate office) above  ties to the Ending Cash per Books - End of Month on MOR7.  MOR7 contains the activity for accounts where the funds are controlled by Houston Corporate office.
 
MOR-8
 
 
 
 
CASE NAME:
AUTOSEIS, INC. ET AL
  
CASE NUMBER:
14-20130
  
     
 
CASH ACCOUNT RECONCILIATION
PERIOD 05/01/2014 - 05/31/2014
 
(Amounts in '000s)
BANK NAME
  
Amegy
Amegy
Citi
Citi
  
Citi
Citi
ACCOUNT NUMBER
  
3354784
51577557
3065 9287
30854015
  
3066 5361
3876 6415
ACCOUNT TYPE
  
Operating
Operating
Operating
Operating
Subtotal (1) (2)
Payroll
Payroll
BANK BALANCE
  
$ (1)
$ 5
$ 782
$ 45
$ 37,514
$ 656
$ -
DEPOSITS IN TRANSIT
-
-
-
-
-
123
(123)
OUTSTANDING CHECKS
14
18
35
-
926
-
155
OTHER
  
(1)
(0)
(4)
-
(241)
(5)
(5)
ADJUSTED BANK BALANCE
$ (14)
$ (13)
$ 751
$ 45
36,830
$ 784
$ (273)
BEGINNING CASH - PER BOOKS
$ (13)
$ (15)
$ 1,580
$ 45
41,937
$ 1,109
$ (179)
RECEIPTS* (4)
  
-
-
4
-
18,476
-
-
TRANSFERS BETWEEN ACCOUNTS (4)
-
2
-
-
2
-
-
TRANSFERS BETWEEN ACCOUNTS (5)
-
-
-
-
(2,223)
2,165
-
TRANSFERS TO FOREIGN DEBTOR ENTITIES (5)
-
-
(40)
-
(6,114)
-
-
TRANSFERS TO FOREIGN NON-DEBTOR ENTITIES (5)
-
-
(1,385)
-
(1,387)
-
-
TRANSFERS FROM FOREIGN DEBTOR ENTITIES (4)
-
-
595
-
595
-
-
TRANSFERS FROM FOREIGN NON-DEBTOR ENTITIES (4)
-
-
  
-
-
-
-
(WITHDRAWAL) OR INDIVIDUAL
CONTRIBUTION BY DEBTOR MFR-2
-
-
-
-
-
-
-
CHECKS/OTHER DISBURSEMENTS* (5)
-
-
(4)
-
(14,322)
(2,490)
(94)
ADJUSTMENTS RELATED TO OTHER PERIODS
(1)
-
-
-
(134)
-
-
ENDING CASH - PER BOOKS
$ (14)
$ (13)
$ 751
$ 45
$ 36,830
$ 784
$ (273)
UNRECORDED DISBURSEMENTS (5)
-
-
(4)
-
(14)
-
-
UNRECORDED RECEIPTS (4)
-
-
-
-
8
-
-
ADJUSTED ENDING CASH - PER BOOKS
$ (14)
$ (13)
$ 747
$ 45
$ 36,824
$ 784
$ (273)
 
*Numbers should balance (match) TOTAL RECEIPTS (Includes transfer
to Corporate) and TOTAL DISBURSEMENTS (includes Foreign .
Transfers) lines on MOR-7.
 
(1) This subtotal represents accounts where the funds are controlled by Houston Corporate office; receipts and disbursements tie to MOR-7
(2) This subtotal contains the Citibank Argentina account as the funds are controlled by Houston Corporate office.
(3) This subtotal represents domestic accounts related to payroll disbursement and operating accounts not directly controlled by Corporate
(4) The sum of these rows for the first subtotal agrees to total receipts on MOR-7
(5) The sum of these rows for the first subtotal agrees to total disbursements on MOR-7
<Note 1> Citi payroll bank account 3074 4174 has been removed from the May MOR8 scheduled and will not be included going forward. This bank account is a non-debtor bank account and was inadvertently included on the March and April MOR8 schedule.
 
<Note 2> MOR8 contains information for the current month for all U.S. bank accounts and is broken out into two categories, accounts where the funds are controlled by Houston Corporate office and other U.S. accounts. The total Ending Cash per Books above ties to the Cash - U.S. bank accounts on MOR2. MOR2 shows the debtor cash balance and is broken out between U.S. bank accounts and non-U.S. bank accounts. The Ending Cash per Books for the first subtotal (accounts where the funds are controlled by Houston Corporate office) above ties to the Ending Cash per Books - End of Month on MOR7. MOR7 contains the activity for accounts where the funds are controlled by Houston Corporate office.
 
MOR-8
 
 
 
 
CASE NAME:
AUTOSEIS, INC. ET AL
  
CASE NUMBER:
14-20130
  
     
 
CASH ACCOUNT RECONCILIATION
PERIOD 05/01/2014 - 05/31/2014
 
(Amounts in '000s)
BANK NAME
  
Bank of America
Wells Fargo
Wells Fargo
Wells Fargo
Amegy
Amegy
Amegy
Amegy
    
ACCOUNT NUMBER
  
488 038 409 088
8964670833
8429980983
9043440404
51577514
51897373
3687805
3690415
    
ACCOUNT TYPE
  
Operating
Operating
Operating
Operating
Payroll
Payroll
Payroll
Operating
Subtotal (3)
TOTAL
BANK BALANCE
  
$ 4
$ -
$ 425
$ -
$ -
$ 0
$ -
$ -
$ 1,085
$ 38,599
DEPOSITS IN TRANSIT
(3)
-
-
(32)
-
1
-
-
(34)
(34)
OUTSTANDING CHECKS
-
-
155
-
-
24
-
-
334
1,260
OTHER
  
-
1
(4)
(0)
(0)
0
1
(1)
(15)
(256)
ADJUSTED BANK BALANCE
$ 1
$ (1)
$ 274
$ (32)
$ 0
$ (23)
$ (1)
$ 1
732
37,561
BEGINNING CASH - PER BOOKS
$ 1
$ (0)
$ 643
$ (17)
$ 1
$ (22)
$ (0)
$ 1
1,536
43,472
RECEIPTS* (4)
  
-
-
-
-
-
-
-
-
-
18,476
TRANSFERS BETWEEN ACCOUNTS (4)
-
-
-
-
(1)
(0)
(0)
-
(2)
0
TRANSFERS BETWEEN ACCOUNTS (5)
5
-
67
(14)
-
-
-
-
2,223
-
TRANSFERS TO FOREIGN DEBTOR ENTITIES (5)
-
-
-
-
-
-
-
-
-
(6,114)
TRANSFERS TO FOREIGN NON-DEBTOR ENTITIES (5)
-
-
-
-
-
-
-
-
-
(1,387)
TRANSFERS FROM FOREIGN DEBTOR ENTITIES (4)
-
-
-
-
-
-
-
-
-
595
TRANSFERS FROM FOREIGN NON-DEBTOR ENTITIES (4)
-
-
-
-
-
-
-
-
-
-
(WITHDRAWAL) OR INDIVIDUAL
CONTRIBUTION BY DEBTOR MFR-2
-
-
-
-
-
-
-
-
-
-
CHECKS/OTHER DISBURSEMENTS* (5)
(5)
(0)
(437)
(0)
-
-
-
-
(3,026)
(17,348)
ADJUSTMENTS RELATED TO OTHER PERIODS
-
-
-
-
-
-
-
-
-
(134)
ENDING CASH - PER BOOKS
$ 1
$ (1)
$ 274
$ (32)
$ 0
$ (23)
$ (1)
$ 1
$ 732
$ 37,561
UNRECORDED DISBURSEMENTS (5)
-
-
-
-
-
-
-
-
-
(14)
UNRECORDED RECEIPTS (4)
-
-
-
-
-
-
-
-
-
8
ADJUSTED ENDING CASH - PER BOOKS
$ 1
$ (1)
$ 274
$ (32)
$ 0
$ (23)
$ (1)
$ 1
$ 732
$ 37,555
 
*Numbers should balance (match) TOTAL RECEIPTS (Includes transfer
to Corporate) and TOTAL DISBURSEMENTS (includes Foreign .
Transfers) lines on MOR-7.
 
(1) This subtotal represents accounts where the funds are controlled by Houston Corporate office; receipts and disbursements tie to MOR-7
(2) This subtotal contains the Citibank Argentina account as the funds are controlled by Houston Corporate office.
(3) This subtotal represents domestic accounts related to payroll disbursement and operating accounts not directly controlled by Corporate
(4) The sum of these rows for the first subtotal agrees to total receipts on MOR-7
(5) The sum of these rows for the first subtotal agrees to total disbursements on MOR-7
<Note 1> Citi payroll bank account 3074 4174 has been removed from the May MOR8 scheduled and will not be included going forward. This bank account is a non-debtor bank account and was inadvertently included on the March and April MOR8 schedule.
 
<Note 2> MOR8 contains information for the current month for all U.S. bank accounts and is broken out into two categories, accounts where the funds are controlled by Houston Corporate office and other U.S. accounts. The total Ending Cash per Books above ties to the Cash - U.S. bank accounts on MOR2. MOR2 shows the debtor cash balance and is broken out between U.S. bank accounts and non-U.S. bank accounts. The Ending Cash per Books for the first subtotal (accounts where the funds are controlled by Houston Corporate office) above ties to the Ending Cash per Books - End of Month on MOR7. MOR7 contains the activity for accounts where the funds are controlled by Houston Corporate office.
 
MOR-8
 
 
 
 
 CASE NAME:
AUTOSEIS, INC. ET AL
  
 CASE NUMBER:
14-20130
  
 
 
PAYMENTS TO INSIDERS AND PROFESSIONALS
(Amounts in '000s)
 
Of the total disbursements shown for the month, list the amount paid to insiders (as defined in Section 101(31)(A)-(F) of the U.S. Bankruptcy Code) and the professionals.
Also, for insiders, identify the type of compensation paid (e.g., salary, commission, bonus, etc.)  (Attach additional pages as necessary).
 
       
MONTH
MONTH
MONTH
MONTH
MONTH
  MONTH
    INSIDERS:  NAME/COMP   TYPE
3/25/14 TO 3/31/14
April
May
      
               
1
Bahorich, Michael S.
Director
Compensation
  
                           -
                           -
      
     
Expense Reimbursement
  
                           -
                           -
      
2
Branch, Caroline
Officer
Compensation
  
                          7
                        10
      
     
Expense Reimbursement
  
                          1
                          1
      
3
Brasher, James E.
Officer
Compensation
  
                        25
                        25
      
     
Expense Reimbursement
  
                          1
                           -
      
4
Fleure, Thomas J.
Officer
Compensation
  
                        13
                        20
      
     
Expense Reimbursement
  
                           -
                          3
      
5
Flynn, Maurice
Officer
Compensation
  
                        13
                        28
      
     
Expense Reimbursement
  
                          5
                           -
      
6
Forrest, Michael C.
Director
Compensation
  
                           -
                           -
      
     
Expense Reimbursement
  
                           -
                           -
      
7
Gore, Sean M.
Officer
Compensation
  
                        17
                        25
      
     
Expense Reimbursement
  
                           -
                           -
      
8
Howell, Jeff M.
Officer
Compensation
  
                        13
                        14
      
     
Expense Reimbursement
  
                          1
                           -
      
9
Kurz, Karl F.
Director
Compensation
  
                           -
                           -
      
     
Expense Reimbursement
  
                           -
                           -
      
10
Lahouse, Thomas M.
Officer
Compensation
  
                        13
                        18
      
     
Expense Reimbursement
  
                          1
                           -
      
11
Matelich, George E.
Director
Compensation
  
                           -
                           -
      
     
Expense Reimbursement
  
                           -
                           -
      
12
Mccoy, Joseph P.
Director
Compensation
  
                           -
                           -
      
     
Expense Reimbursement
  
                           -
                           -
      
13
Muse Jr., Ralph B.
Officer
Compensation
  
                        13
                        20
      
     
Expense Reimbursement
  
                          3
                          1
      
14
Osborne, Stanley De J.
Director
Compensation
  
                           -
                           -
      
     
Expense Reimbursement
  
                           -
                           -
      
15
Peebles, Ross G.
Officer
Compensation
  
                        16
                        23
      
     
Expense Reimbursement
  
                          8
                          2
      
16
Riley Jr., Duncan W.
Officer
Compensation
  
                        14
                        21
      
     
Expense Reimbursement
  
                          2
                          2
      
17
Skerl, Damir S.
Director
Compensation
  
                           -
                           -
      
     
Expense Reimbursement
  
                           -
                           -
      
18
Terrell, Tracy C.
Officer
Compensation
  
                        16
                        20
      
     
Expense Reimbursement
  
                          0
                          0
      
19
Verghese, P. Mathew
Officer
Compensation
  
                        19
                        27
      
     
Expense Reimbursement
  
                          5
                          2
      
20
White, Richard C.
Officer
Compensation
  
                        26
                        33
      
     
Expense Reimbursement
  
                        12
                          7
      
21
Yapuncich, George T.
Officer
Compensation
  
                        14
                        21
      
     
Expense Reimbursement
  
                           -
                           -
      
TOTAL INSIDERS  (MOR-1)
    
                           -
                      260
                      322
                           -
                           -
                           -
 
       
 MONTH
 MONTH
 MONTH
 MONTH
 MONTH
   MONTH
                PROFESSIONALS
    
3/25/14 TO 3/31/14
April
 May
      
                   
 
Akin Gump Strass Hauer & Feld LLP
  
                      371
                      492
      
 
Ernst & Young
  
                        86
                        34
      
 
Greenberg Traurig, LLP
    
                      262
      
 
Joele Frank, Wilkinson Brimmer Katcher
    
                        15
      
 
Jordan, Hyden, Womble, Culbreth & Holzer
    
                        47
      
 
Opportune
  
                      250
                      154
      
 
Prime Clerk
  
                        21
                      121
      
 
Ropes & Gray, LLP
    
                        94
      
 
Rothschild Inc.
    
                      217
      
 
U.S. Trustee Payment Center
  
                          2
                        13
      
 
UHY LLP
  
                      777
        
 
Wilmington Trust [1]
                        19
                        55
        
               
               
TOTAL PROFESSIONALS     (MOR-1)
 $                     19
 $                1,561
 $                1,449
 $                        -
 $                        -
 $                        -
 
 
[1] Amounts netted against DIP funding
  
     
MOR-9
Revised 07/01/98
 
 
 
 
    UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF TEXAS
CORPUS CHRISTI DIVISION
Exhibit A - CONSOLIDATING DISBURSEMENTS OF JOINTLY ADMINISTERED CASES IN CHAPTER 11
                   
                   
CASE NAME:
AUTOSEIS, INC. ET AL
          
JOINT ADMINISTRATION CASE NUMBER:
14-20130
          
                   
   
DISBURSEMENTS
   
(Amounts in '000s)
                   
Entity
Case No.
3/25/14 TO 3/31/14
April
May
June
July
August
Sept.
Filing to Date
AUTOSEIS, INC.
14-20130
 $         -
 $           -
 $           -
        
 $               -
GLOBAL GEOPHYSICAL SERVICES, INC.
14-20131
5,565
117,086
24,061
        
146,712
GLOBAL GEOPHYSICAL EAME, INC.
14-20132
            -
              -
              -
        
                  -
GGS INTERNATIONAL HOLDINGS, INC.
14-20133
            -
              -
              -
        
                  -
ACCRETE MONITORING, INC.
14-20134
            -
              -
              -
        
                  -
AUTOSEIS DEVELOPMENT COMPANY
14-20135
            -
              -
              -
        
                  -
                   
Total Disbursements (same as MOR-1 disbursements)
 $  5,565
 $117,086
 $  24,061
        
 $    146,712
 
 
 
 
 
Exhibit A
 
 
 

Global Geophysical Services Inc Reports

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