EX-99.1 3 y63471exv99w1.txt CHAPTER 11 MONTHLY OPERATING REPORT UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF CALIFORNIA In re: OmniSky Corporation Case No. 01-33125 (DM) ----------------------- CHAPTER 11 MONTHLY OPERATING REPORT (GENERAL BUSINESS CASE) SUMMARY OF FINANCIAL STATUS MONTH ENDED: July 02 PETITION DATE: 12/10/01 ------------- ------------------- 1. Debtor in possession (or trustee) hereby submits this Monthly Operating Report on the Accrual Basis of accounting (or if checked here the Office of the U.S. Trustee or the Court has approved the ---- Cash Basis of Accounting for the Debtor). Dollars reported in $1 ---- 2. ASSET AND LIABILITY STRUCTURE END OF CURRENT MONTH END OF PRIOR MONTH AS OF PETITION FILING -------------------- ------------------ --------------------- a. Current Assets $10,902,972 $11,115,576 ----------------------- ----------------------- b. Total Assets $60,369,017 (1) $60,581,621 $23,189,381 (1) ----------------------- ----------------------- ----------------------- c. Current Liabilities $836,236 $727,362 ----------------------- ----------------------- d. Total Liabilities $7,041,322 (2) $6,940,448 $42,832,634 (2) ----------------------- ----------------------- ----------------------- 3. STATEMENT OF CASH RECEIPTS & CUMULATIVE DISBURSEMENTS FOR MONTH CURRENT MONTH PRIOR MONTH (CASE TO DATE) ------------- ----------- -------------- a. Total Receipts ($15,063) $387,200 $5,186,411 ----------------------- ----------------------- ----------------------- b. Total Disbursements $99,123 $680,811 $5,910,850 ----------------------- ----------------------- ----------------------- c. Excess (Deficiency) of Receipts Over Disbursements (a - b) ($114,186) ($293,611) ($724,439) ----------------------- ----------------------- ----------------------- d. Cash Balance Beginning of Period $9,114,036 $9,407,647 $9,724,289 ----------------------- ----------------------- ----------------------- e. Cash Balance End of Period (c + d) $8,999,850 $9,114,036 $8,999,850 ----------------------- ----------------------- ----------------------- CUMULATIVE CURRENT MONTH PRIOR MONTH (CASE TO DATE) ------------- ----------- -------------- 4. Profit/(Loss) from the Statement of Operations ($320,758) ($249,778) ($10,238,871) ----------------------- ----------------------- ----------------------- 5. Account Receivables (Pre and Post Petition) $50,336 $63,594 ----------------------- ----------------------- 6. Post-Petition Liabilities $836,236 $727,362 ----------------------- ----------------------- 7. Past Due Post-Petition Account Payables (over 30 days) $0 $0 ----------------------- -----------------------

I declare under penalty of perjury I have reviewed the above summary and attached financial statements, and after making reasonable inquiry believe these documents are correct. Date: 8/16/02 /s/ Michael Malesardi ------------------------ -------------------------------------------- Responsible Individual (1) The significant difference in total assets between the petition date and the end of the current month is primarily due to $46.6 million of investments in subsidiaries not expected to result in cash to the estate that as a result was not reported on the Statements and Schedules filed with the Bankruptcy Court. In addition, approximately $2.6 million in net intercompany receivables/payables was not reported for the same reason. (2) Debtor does not maintain certain contingent liabilities on its books that were reported on the Statement and Schedules filed with the Bankruptcy Court. Therefore, the significant difference in total liabilities between the petition date and the end of the current month is primarily attributed to $29.4 million of contingent liabilities due to News Corporation Limited and $2.8 million contingently due to the Debtor's employees under change of control contracts that were presented in the Statements and Schedules but which are excluded herein. STATEMENT OF OPERATIONS (General Business Case) For the Month Ended 07/31/02 -----------

Attach an Explanation of Variance to Statement of Operations (For variances greater than +/- 10% only): (1) No forecast operating results have been or will be supplied to the bankruptcy court. The Debtor has sold, with the approval of the bankruptcy court, its primary assets and operations with an effective date of January 22, 2002. (2) In conjuction with its asset sale to EarthLink, the Debtor has taken non-cash charges to adjust the book value of certain assets that were neither assumed in the transaction nor are deemed to provide any cash recovery to the Debtor's estate. (3) Formulas in this document reflect gains in reorganization items as a negative value. (4) Under GAAP accounting, the company previously recorded a Deferred Revenue liability for potential returns of equipment from retailers. This book reserve is no longer considered necessary. BALANCE SHEET (GENERAL BUSINESS CASE) FOR THE MONTH ENDED 07/31/02 -----------

NOTE: Indicate the method used to estimate the market value of assets (e.g., appraisals; familiarity with comparable market prices, etc.) and the date the value was determined. LIABILITIES AND EQUITY (GENERAL BUSINESS CASE)

SCHEDULES TO THE BALANCE SHEET (GENERAL BUSINESS CASE) SCHEDULE A ACCOUNTS RECEIVABLE AND (NET) PAYABLE

SCHEDULE B INVENTORY/COST OF GOODS SOLD

(1) Inventory is maintained by a third-party-provider, BrightPoint, who performs periodic cycle counts on the Debtor's inventory. SCHEDULE C REAL PROPERTY

SCHEDULE D OTHER DEPRECIABLE ASSETS

SCHEDULE E AGING OF POST-PETITION TAXES (AS OF END OF THE CURRENT REPORTING PERIOD)

SCHEDULE F PRE-PETITION LIABILITIES

(1) The Debtor does not have any secured liabilities. (2) The above amount represents the total amount of claims filed in the Debtor's Schedule of Assets and Liabilities (SoAL). (3) The total represents the Debtor's balances recorded in accordance with GAAP as of July 31, 2002. This amount does not included any contingent, unliquidated, or disputed claims that were either originally scheduled by the Debtor or filed as a claim by Creditors. The primary difference between the claimed & allowed amount reported herein is the potential News Corporation Limited claim of approximately $29.4 million and Management's change of control claim of approximately $2.8 million. In July 2002, the Debtor agreed with a creditor to set off a pre-petition liability against a pre-petition receivable. As such, the Debtor had decreased the pre-petition general unsecured claims amount by $8,000 to recognize the set off of this liability. SCHEDULE G RENTAL INCOME INFORMATION NOT APPLICABLE TO GENERAL BUSINESS CASES SCHEDULE H RECAPITULATION OF FUNDS HELD AT END OF MONTH

Attach copies of the month end bank statement(s), reconciliation(s), and the check register(s) to the Monthly Operating Report. -------------------------------------------------------------------------------- (a) Restricted cash - Certificate of Deposit for the California State Board of Equalization. (b) This is a reserve account established by Wells Fargo Bank, which is held in a certificate of deposit in the Debtor's name. Funds are held by Wells Fargo as security for the Debtor's chargeback liability. (c) This is a reserve account established by American Express, which is held in a certificate of deposit in the Debtor's name. Funds are held by American Express as security for the Debtor's chargeback liability. -------------------------------------------------------------------------------- STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS FOR THE MONTH ENDED 07/31/02 -----------

STATEMENT OF CASH FLOWS (OPTIONAL) INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS FOR THE MONTH ENDED 07/31/02 -----------

-------------------------------------------------------------------------------- (1) Due to the formulas of this document, this entry is recorded as a negative value. The $5,195 recorded represents an increase in cash to the Estate. (2) Due to the formulas of this document, this entry is recorded as a negative value. The $10,000 recorded represents an increase in cash to the Estate. -------------------------------------------------------------------------------- UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF CALIFORNIA In re: NomadIQ, Inc. CASE NO. 01-33128 (DM) ------------------ CHAPTER 11 MONTHLY OPERATING REPORT (GENERAL BUSINESS CASE) SUMMARY OF FINANCIAL STATUS MONTH ENDED: July 02 PETITION DATE: 12/10/01 ----------- ------------------ 1. Debtor in possession (or trustee) hereby submits this Monthly Operating Report on the Accrual Basis of accounting (or if checked here the Office of the U.S. Trustee or the Court has approved the Cash Basis of Accounting for the Debtor). Dollars reported in $ 1 ---

15. Check if paid: Post-petition taxes U.S. Trustee Quarterly Fees X Check if filing is current for: Post-petition --- ----- tax reporting and tax returns X. ---

(Attach explanation, if post-petition taxes or U.S. Trustee Quarterly Fees are not paid current or if post-petition tax reporting and tax return filings are not current.) I declare under penalty of perjury I have reviewed the above summary and attached financial statements, and after making reasonable inquiry believe these documents are correct. Date: 8/14/02 /s/ Michael Malesardi ------------------ ----------------------------------------------- Responsible Individual STATEMENT OF OPERATIONS (GENERAL BUSINESS CASE) For the Month Ended 07/31/02 ----------

Attach an Explanation of Variance to Statement of Operations (For variances greater than +/- 10% only): BALANCE SHEET (GENERAL BUSINESS CASE) FOR THE MONTH ENDED 07/31/02 ----------

SCHEDULES TO THE BALANCE SHEET (General Business Case) Schedule A Accounts Receivable and (Net) Payable

SCHEDULE B INVENTORY/COST OF GOODS SOLD

SCHEDULE C REAL PROPERTY

SCHEDULE D OTHER DEPRECIABLE ASSETS

SCHEDULE E AGING OF POST-PETITION TAXES (AS OF END OF THE CURRENT REPORTING PERIOD)

SCHEDULE F PRE-PETITION LIABILITIES

(a) List total amount of claims even it under secured. (b) Estimated amount of claim to be allowed after compromise or litigation. As an example, you are a defendant in a lawsuit alleging damage of $10,000,000 and a proof of claim is filed in that amount. You believe that you can settle the case for a claim of $3,000,000. For Schedule F reporting purposes you should list $10,000,000 as the Claimed Amount and $3,000,000 as the Allowed Amount. SCHEDULE G RENTAL INCOME INFORMATION NOT APPLICABLE TO GENERAL BUSINESS CASES SCHEDULE H RECAPITULATION OF FUNDS HELD AT END OF MONTH

Attach copies of the month end bank statement(s), reconciliation(s), and the check register(s) to the Monthly Operating Report. STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS FOR THE MONTH ENDED 07/31/02 ----------

STATEMENT OF CASH FLOWS (Optional) Increase/(Decrease) in Cash and Cash Equivalents For the Month Ended 07/31/02 ----------

UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF CALIFORNIA In re: Norway Acquisition Corporation CASE NO. 01-33127 (DM) ----------------------- CHAPTER 11 MONTHLY OPERATING REPORT (GENERAL BUSINESS CASE)

SUMMARY OF FINANCIAL STATUS MONTH ENDED: July 02 PETITION DATE: 12/10/01 ----------- -----------------------

1. Debtor in possession (or trustee) hereby submits this Monthly Operating Report on the Accrual Basis of accounting (or if checked here the Office of the U.S. Trustee or the Court has approved the Cash Basis of Accounting for the Debtor). Dollars reported in $1 -- 2. ASSET AND LIABILITY STRUCTURE END OF CURRENT END OF PRIOR AS OF PETITION MONTH MONTH FILING ----- ----- ------ a. Current Assets $0 $0 ------------------ ------------------ b. Total Assets $0 $0 $0 ------------------ ------------------ ------------------ c. Current Liabilities $0 $0 ------------------ ------------------ d. Total Liabilities $0 $0 $0 ------------------ ------------------ ------------------ CUMULATIVE 3. STATEMENT OF CASH RECEIPTS & DISBURSEMENTS FOR MONTH CURRENT MONTH PRIOR MONTH (CASE TO DATE) ------------- ----------- -------------- a. Total Receipts $0 $0 $0 ------------------ ------------------ ------------------ b. Total Disbursements $0 $0 $0 ------------------ ------------------ ------------------ c. Excess (Deficiency) of Receipts Over Disbursements (a - b) $0 $0 $0 ------------------ ------------------ ------------------ d. Cash Balance Beginning of Month $0 $0 $0 ------------------ ------------------ ------------------ e. Cash Balance End of Month (c + d) $0 $0 $0 ------------------ ------------------ ------------------ CUMULATIVE CURRENT MONTH PRIOR MONTH (CASE TO DATE) ------------- ----------- -------------- 4. PROFIT/(LOSS) FROM THE STATEMENT OF OPERATIONS $0 $0 $0 ------------------ ------------------ ------------------ 5. ACCOUNT RECEIVABLES (PRE AND POST PETITION) $0 $0 ------------------ ------------------ 6. POST-PETITION LIABILITIES $0 $0 ------------------ ------------------ 7. PAST DUE POST-PETITION ACCOUNT PAYABLES (OVER 30 DAYS) $0 $0 ------------------ ------------------

AT THE END OF THIS REPORTING MONTH: YES NO --- -- 8. Have any payments been made on pre-petition debt, other than payments in the X normal course to secured creditors or lessors? (if yes, attach listing ----------------------- ------------------ including date of payment, amount of payment and name of payee) 9. Have any payments been made to professionals? (if yes, attach listing X including date of payment, amount of payment and name of payee) ----------------------- ------------------ 10. If the answer is yes to 8 or 9, were all such payments approved by the court? ----------------------- ------------------ 11. Have any payments been made to officers, insiders, shareholders, relatives? X (if yes, attach listing including date of payment, amount and reason for ----------------------- ------------------ payment, and name of payee) 12. Is the estate insured for replacement cost of assets and for general X liability? ----------------------- ------------------ 13. Are a plan and disclosure statement on file? X ----------------------- ------------------ 14. Was there any post-petition borrowing during this reporting period? X ----------------------- ------------------ 15. Check if paid: Post-petition taxes ; U.S. Trustee Quarterly Fees X ; Check if filing is current for: Post-petition --- ---- tax reporting and tax returns: X . --- (Attach explanation, if post-petition taxes or U.S. Trustee Quarterly Fees are not paid current or if post-petition tax reporting and tax return filings are not current.) I declare under penalty of perjury I have reviewed the above summary and attached financial statements, and after making reasonable inquiry believe these documents are correct. Date: 8/14/02 /s/ Michael Malesardi --------------------------------------- ---------------------------------------------------------------------- Responsible Individual

STATEMENT OF OPERATIONS (GENERAL BUSINESS CASE) For the Month Ended 07/31/02 ------------

Attach an Explanation of Variance to Statement of Operations (For variances greater than +/- 10% only): BALANCE SHEET (GENERAL BUSINESS CASE) FOR THE MONTH ENDED 07/31/02 -----------

LIABILITIES AND EQUITY (GENERAL BUSINESS CASE)

SCHEDULES TO THE BALANCE SHEET (GENERAL BUSINESS CASE) SCHEDULE A ACCOUNTS RECEIVABLE AND (NET) PAYABLE

SCHEDULE B INVENTORY/COST OF GOODS SOLD

SCHEDULE C REAL PROPERTY

SCHEDULE D OTHER DEPRECIABLE ASSETS

SCHEDULE E AGING OF POST-PETITION TAXES (AS OF END OF THE CURRENT REPORTING PERIOD)

SCHEDULE F PRE-PETITION LIABILITIES

STATEMENT OF CASH FLOWS (Optional) Increase/(Decrease) in Cash and Cash Equivalents For the Month Ended 07/31/02 ----------

UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF CALIFORNIA In re: OmniSky International, LLC CASE NO. 01-33126 (DM) CHAPTER 11 MONTHLY OPERATING REPORT (GENERAL BUSINESS CASE) SUMMARY OF FINANCIAL STATUS MONTH ENDED: July 02 PETITION DATE: 12/10/01 --------------- ------------------- 1. Debtor in possession (or trustee) hereby submits this Monthly Operating Report on the Accrual Basis of accounting (or if checked here the Office of the U.S. Trustee or the Court has approved the Cash Basis of Accounting for the Debtor). Dollars reported in $1 -- END OF CURRENT END OF PRIOR AS OF PETITION 2. ASSET AND LIABILITY STRUCTURE MONTH MONTH FILING ----- ----- ------ a. Current Assets $0 $0 ---------------- ---------------- b. Total Assets $0 $0 $0 ---------------- ---------------- ----------------- c. Current Liabilities $0 $0 ---------------- ---------------- d. Total Liabilities $0 $0 $0 ---------------- ---------------- ----------------- CUMULATIVE 3. STATEMENT OF CASH RECEIPTS & DISBURSEMENTS FOR MONTH CURRENT MONTH PRIOR MONTH (CASE TO DATE) ------------- ----------- -------------- a. Total Receipts $0 $0 $0 ---------------- ---------------- ----------------- b. Total Disbursements $0 $0 $0 ---------------- ---------------- ----------------- c. Excess (Deficiency) of Receipts Over Disbursements (a - b) $0 $0 $0 ---------------- ---------------- ----------------- d. Cash Balance Beginning of Month $0 $0 $0 ---------------- ---------------- ----------------- e. Cash Balance End of Month (c + d) $0 $0 $0 ---------------- ---------------- ----------------- CUMULATIVE CURRENT MONTH PRIOR MONTH (CASE TO DATE) ------------- ----------- -------------- 4. PROFIT/(LOSS) FROM THE STATEMENT OF OPERATIONS $0 $0 $0 ---------------- ---------------- ----------------- 5. ACCOUNT RECEIVABLES (PRE AND POST PETITION) $0 $0 ---------------- ---------------- 6. POST-PETITION LIABILITIES $0 $0 ---------------- ---------------- 7. PAST DUE POST-PETITION ACCOUNT PAYABLES (OVER 30 DAYS) $0 $0 ---------------- ---------------- AT THE END OF THIS REPORTING MONTH: YES NO --- -- 8. Have any payments been made on pre-petition debt, other than payments in the normal X course to secured creditors or lessors? (if yes, attach listing including date of ---------------- ----------------- payment, amount of payment and name of payee) 9. Have any payments been made to professionals? (if yes, attach listing including X date of payment, amount of payment and name of payee) ---------------- ----------------- 10. If the answer is yes to 8 or 9, were all such payments approved by the court? ---------------- ----------------- 11. Have any payments been made to officers, insiders, shareholders, relatives? X (if yes, attach listing including date of payment, amount and reason for ---------------- ----------------- payment, and name of payee) 12. Is the estate insured for replacement cost of assets and for general liability? X ---------------- ----------------- 13. Are a plan and disclosure statement on file? X ---------------- ----------------- 14. Was there any post-petition borrowing during this reporting period? X ---------------- ----------------- 15. Check if paid: Post-petition taxes ; U.S. Trustee Quarterly Fees X ; Check if filing is current for: Post-petition ---- ---- tax reporting and tax returns: X . ---- (Attach explanation, if post-petition taxes or U.S. Trustee Quarterly Fees are not paid current or if post-petition tax reporting and tax return filings are not current.) I declare under penalty of perjury I have reviewed the above summary and attached financial statements, and after making reasonable inquiry believe these documents are correct. Date: 8/14/02 /s/ Michael Malesardi -------------------------- --------------------------------------------------------- Responsible Individual

STATEMENT OF OPERATIONS (GENERAL BUSINESS CASE) For the Month Ended 07/31/02 ------------

Attach an Explanation of Variance to Statement of Operations (For variances greater than +/- 10% only): BALANCE SHEET (GENERAL BUSINESS CASE) FOR THE MONTH ENDED 07/31/02 -----------

LIABILITIES AND EQUITY (GENERAL BUSINESS CASE) LIABILITIES FROM SCHEDULES POST-PETITION CURRENT LIABILITIES 30 Salaries and wages $0 --------------------- 31 Payroll taxes $0 --------------------- 32 Real and personal property taxes $0 --------------------- 33 Income taxes $0 --------------------- 34 Sales taxes $0 --------------------- 35 Notes payable (short term) $0 --------------------- 36 Accounts payable (trade) A $0 --------------------- 37 Real property lease arrearage $0 --------------------- 38 Personal property lease arrearage $0 --------------------- 39 Accrued professional fees $0 --------------------- 40 Current portion of long-term post-petition debt (due within 12 months) $0 --------------------- 41 Other: $0 -------------------------------- --------------------- 42 -------------------------------------------- --------------------- 43 -------------------------------------------- --------------------- 44 TOTAL CURRENT LIABILITIES $0 --------------------- 45 LONG-TERM POST-PETITION DEBT, NET OF CURRENT PORTION --------------------- 46 TOTAL POST-PETITION LIABILITIES $0 --------------------- PRE-PETITION LIABILITIES (ALLOWED AMOUNT) 47 Secured claims F $0 --------------------- 48 Priority unsecured claims F $0 --------------------- 49 General unsecured claims F $0 --------------------- 50 TOTAL PRE-PETITION LIABILITIES $0 --------------------- 51 TOTAL LIABILITIES $0 --------------------- EQUITY (DEFICIT) 52 Retained Earnings/(Deficit) at time of filing $0 --------------------- 53 Capital Stock $0 --------------------- 54 Additional paid-in capital $0 --------------------- 55 Cumulative profit/(loss) since filing of case $0 --------------------- 56 Post-petition contributions/(distributions) or (draws) $0 --------------------- 57 -------------------------------------------- --------------------- 58 Market value adjustment $0 --------------------- 59 TOTAL EQUITY (DEFICIT) $0 --------------------- 60 TOTAL LIABILITIES AND EQUITY (DEFICIT) $0 =====================

SCHEDULES TO THE BALANCE SHEET (GENERAL BUSINESS CASE) SCHEDULE A ACCOUNTS RECEIVABLE AND (NET) PAYABLE

SCHEDULE E AGING OF POST-PETITION TAXES (AS OF END OF THE CURRENT REPORTING PERIOD)

SCHEDULE F PRE-PETITION LIABILITIES

STATEMENT OF CASH FLOWS (Optional) Increase/(Decrease) in Cash and Cash Equivalents For the Month Ended 07/31/02 -----------

OMNISKY CORP 8-K