Attached files
| file | filename |
|---|---|
| 8-K - 8-K - KID BRANDS, INC | d766958d8k.htm |
Exhibit 99.1
| In Re: Kid Brands, Inc. et al. | Case No. 14-22582 | |
| Debtors |
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS1
For the Period June 19, 2014 through June 30, 2014
| RECEIPTS |
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| CASH RECEIPTS |
$ | 4,275,251.91 | ||
| TOTAL RECEIPTS |
$ | 4,275,251.91 | ||
| DISBURSEMENTS |
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| OPERATING DISBURSEMENTS |
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| PAYROLL & EMPLOYEE EXPENSE REIMBURSEMENTS |
357,042.20 | |||
| EMPLOYEE MEDICAL |
24,063.82 | |||
| DISTRIBUTION & FREIGHT |
43,806.56 | |||
| INVENTORY PURCHASES |
— | |||
| RENT |
— | |||
| INSURANCE |
19,980.67 | |||
| ADMINISTRATIVE & OTHER OPERATING |
114,944.13 | |||
| TOTAL OPERATING DISBURSEMENTS |
559,837.38 | |||
| NON-OPERATING DISBURSEMENTS |
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| LOAN PAYDOWN, INTEREST AND FEES |
45,883,000.82 | |||
| PROFESSIONAL FEES ESCROW |
600,000.00 | |||
| DEPOSITS |
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| U.S. TRUSTEE FEES |
||||
| TOTAL NON-OPERATING DISBURSEMENTS |
46,483,000.82 | |||
| TOTAL DISBURSEMENTS |
47,042,838.20 | |||
| NET CASH FLOW |
$ | (42,767,586.29 | ) |
THE FOLLOWING SECTION MUST BE COMPLETED
| DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN) |
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| TOTAL DISBURSEMENTS (LESS: LOAN PAYOFF) |
1,159,837.38 | |||
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| LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS |
— | |||
| PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts) |
— | |||
|
|
|
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| TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES |
1,159,837.38 | |||
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| 1 | This consolidated statement of cash receipts and disbursements has been presented in a manner consistent with the Debtors’ historical external financial reporting and would be unduly burdensome to produce in a different or modified format. |
FORM MOR- 1
(9/99)
| In Re: Kid Brands, Inc. et al. | Case No. 14-22582 | |
| Debtors |
STATEMENT OF OPERATIONS1
For the Period June 19, 2014 through June 30, 2014
The Statement of Operations is to be prepared on an accrual basis. The accrual basis of accounting recognizes revenue when it is realized and expenses when they are incurred, regardless of when cash is actually received or paid.
| Period | ||||
| 6/19/14-6/30/14 | ||||
| REVENUES |
||||
| Net Revenue |
$ | 761,965.38 | ||
| Cost of Goods Sold |
709,069.90 | |||
|
|
|
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| Gross Profit |
$ | 52,895.48 | ||
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| OPERATING EXPENSES |
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| Direct Selling |
56,130.40 | |||
| Sales Support |
943.00 | |||
| Shipping |
324,938.20 | |||
| Administrative |
344,610.28 | |||
| MIS |
40,210.09 | |||
| Legal |
7,916.00 | |||
| Design and Product Development |
44,472.00 | |||
| Other |
(9,452.00 | ) | ||
|
|
|
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| Total Operating Expenses |
809,767.97 | |||
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|
|
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| Net Profit (Loss) Before Other Income & Expenses |
$ | (756,872.49 | ) | |
|
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| OTHER INCOME AND EXPENSES |
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| Interest Expense2 |
2,479,232.00 | |||
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| Net Profit (Loss) Before Reorganization Items |
$ | (3,236,104.49 | ) | |
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| REORGANIZATION ITEMS |
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| Professional Fees |
200,540.00 | |||
| U. S. Trustee Quarterly Fees |
— | |||
| Other Reorganization Expenses |
— | |||
|
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|
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| Total Reorganization Expenses |
200,540.00 | |||
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| Foreign Income Taxes |
$ | (9,288.80 | ) | |
|
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|
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| Net Profit (Loss) |
$ | (3,427,355.69 | ) | |
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| 1 | This consolidated statement of operations has been presented in a manner consistent with the Debtors’ historical financial reporting and includes its foreign entities and would be unduly burdensome to produce in a different or modified format |
| 2 | Includes write off off deferred financing cost related to prior credit facility and early termination fee |
FORM MOR-2
(9/99)
| In Re: Kid Brands, Inc. et al. | Case No. 14-22582 | |
| Debtors |
BALANCE SHEET1
For the Period Ended June 30, 2014
The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from postpetition obligations.
| BOOK VALUE AT END OF | ||||
| CURRENT REPORTING MONTH | ||||
| ASSETS | ||||
| CURRENT ASSETS |
||||
| Unrestricted Cash and Equivalents |
523,087 | |||
| Restricted Cash |
882,942 | |||
| Accounts Receivable (Net) |
21,960,468 | |||
| Notes Receivable |
150,000 | |||
| Inventories (Net) |
21,251,030 | |||
| Income Taxes Receivable |
4,913 | |||
| Prepaid Expenses and Other Current Assets |
5,202,253 | |||
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| TOTAL CURRENT ASSETS |
49,974,693 | |||
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| PROPERTY AND EQUIPMENT |
||||
| Fixed Assets |
11,424,238 | |||
| Less Accumulated Depreciation |
(7,693,301 | ) | ||
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| TOTAL PROPERTY & EQUIPMENT |
3,730,937 | |||
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| OTHER ASSETS |
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| Intangibles |
8,862,529 | |||
| Other Assets |
562,306 | |||
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| TOTAL OTHER ASSETS |
9,424,835 | |||
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| TOTAL ASSETS |
63,130,465 | |||
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| BOOK VALUE AT END OF | ||||
| CURRENT REPORTING MONTH | ||||
| LIABILITIES AND OWNER EQUITY | ||||
| LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition) |
||||
| DIP Financing |
42,412,054 | |||
| Accounts Payable |
659,517 | |||
| Taxes Payable |
666,215 | |||
| Accrued expenses |
529,072 | |||
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| TOTAL POSTPETITION LIABILITIES |
44,266,858 | |||
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| LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition) |
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| Accounts Payable |
25,893,851 | |||
| Accrued expenses |
26,298,171 | |||
| Deferred Rent-leases |
1,867,680 | |||
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| TOTAL PRE-PETITION LIABILITIES |
54,059,702 | |||
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| TOTAL LIABILITIES |
98,326,560 | |||
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| SHAREHOLDER EQUITY |
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| Capital Stock |
2,673,766 | |||
| Additional Paid-In Capital |
88,087,617 | |||
| Treasury Stock |
(89,512,897 | ) | ||
| Retained Earnings |
(36,663,178 | ) | ||
| Translation adjustment |
218,597 | |||
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| NET SHAREHOLDER EQUITY |
(35,196,095 | ) | ||
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| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
63,130,465 | |||
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| 1 | Includes the assets and liabilities of the Company’s foreign entities that are not part of bankruptcy filing |
FORM MOR-3
(9/99)