EX-99 2 ex99-1102201.txt EX. 99.1 - MONTHLY OPERATING REPORT FOR 9/01 EXHIBIT 99.1 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND (Baltimore Division) In re: * CALIBER LEARNING NETWORK, INC., * Case No. 01-5-9533-JS (Chapter 11) Debtor. * * * * * * * * * * * * LINE FILING DEBTOR'S MONTHLY OPERATING REPORT Caliber Learning Network, Inc., Debtor and Debtor-in-Possession herein, hereby files its Monthly Operating Report for the period from September 1 through September 30, 2001. Date: October 22, 2001 /s/ JOEL I. SHER ------------------------------------------- Joel I. Sher, Bar No. 00719 Richard M. Goldberg, Bar No. 07994 Shapiro Sher & Guinot 36 South Charles Street, 20th Floor Baltimore, Maryland 21201-3147 Phone: (410) 385-0202 Fax: (410) 539-7611 Attorneys for Caliber Learning Network, Inc. CERTIFICATE OF SERVICE I HEREBY CERTIFY that on this 22nd day of October, 2001, a copy of the foregoing was sent, by facsimile transmission and first-class mail, postage prepaid, to: Edmund Goldberg, Esquire Office of the United States Trustee 300 West Pratt Street, Suite 350 Baltimore, MD 21201 Richard L. Wasserman, Esquire Venable Baetjer & Howard Two Hopkins Plaza, Suite 1800 Baltimore, MD 21201 F. Thomas Rafferty Ober Kaler Grimes & Shriver 120 E. Baltimore Street Baltimore, MD 21202 Nelson C. Cohen, Esquire Zuckerman Spaeder Goldstein Taylor 1201 Connecticut Avenue, N.W. Suite 700 Washington, DC 20036-2638 Jeffrey W. Orenstein, Esquire 11300 Rockville Pike, Suite 408 Rockville, MD 20852 /s/ RICHARD M. GOLDBERG --------------------------------------- RICHARD M. GOLDBERG -2- Caliber Learning Network, Inc. U.S. Bankruptcy Court Filing Case #01-59533

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Caliber Learning Network, Inc. U.S. Bankruptcy Court Filing Case #01-59533 Monthly Operating Report For the Month ended September 30, 2001 Form # 4 - Tax Statement (Verification of Fiduciary's Federal Tax Deposit) Caliber Learning federal deposits with confirmation # taxcode LB date EFTPS DATE Confirm# AMT ----------------------------------------------------------------------- 0001 0001 08/15/01 DP 08/20/01 128123403008956 44,401.65 0001 0002 08/15/01 DP 08/20/01 128123403008956 6,562.34 0001 0003 08/15/01 DP 08/20/01 128123403008956 6,562.34 0001 0022 08/15/01 DP 08/20/01 128123403008956 3,099.76 0001 0023 08/15/01 DP 08/20/01 128123403008956 3,099.76 0001 0001 08/31/01 DP 09/04/01 128124903004182 12,856.02 0001 0002 08/31/01 DP 09/04/01 128124903004182 4,744.32 0001 0003 08/31/01 DP 09/04/01 128124903004182 4,744.32 0001 0022 08/31/01 DP 09/04/01 128124903004182 1,114.96 0001 0023 08/31/01 DP 09/04/01 128124903004182 1,114.96 Caliber Learning Network, Inc. U.S. Bankruptcy Court Filing Case #01-59533 Monthly Operating Report For the Month ended September 30, 2001 September 30, 2001 --------------------- Assets Current Assets CASH $ 844,366 PRE-PETITION RECEIVABLES $ 1,249,945 POST-PETITION RECEIVABLES $ 181,986 ALLOWANCE FOR DOUBTFUL ACCOUNTS $ (699,555) EMPLOYEE LOANS & ADVANCES $ 5,587 PREPAID ASSETS $ 210,479 -------------------- Total Current Assets $ 1,792,809 Plant, Property and Equipment FURNITURE AND EQUIPMENT $ 26,586,888 LEASEHOLD IMPROVEMENTS $ 10,655,783 ACCUMULATED DEPRECIATION $ (25,276,553) -------------------- Net Property Plant & Equipment $ 11,966,118 -------------------- Other Long Term Assets $ 463,436 -------------------- Total Assets $ 14,222,363 ==================== Liabilities Post-Petition ACCOUNTS PAYABLE - TRADE $ 246,281 ACCRUED WAGES, BENEFITS & TAXES $ 118,771 ACCRUED MISCELLANEOUS $ 71,107 UNEARNED REVENUE $ 403,879 DEFERRED REVENUE $ 66,944 -------------------- Total Post-Petition Liabilities $ 906,980 Liabilities Subject to Compromise: Pre-Petition Priority Claims ACCRUED COMMISSIONS $ 30,888 -------------------- Total Priority Claims $ 30,888 Secured Debts BORROWING FROM SYLVAN $ 300,000 ACCRUED INTEREST PAYABLE $ 8,750 --------------------- Total Secured Debts $ 308,750 Unsecured Debts ACCOUNTS PAYABLE - TRADE $ 5,170,002 A/P OTHER $ 36,540 ACCRUED INTEREST PAYABLE $ 268,480 ACCRUED MISCELLANEOUS $ 686,828 DIVIDEND PAYABLE $ 161,220 BORROWING FROM SYLVAN $ 7,314,511 LONG TERM LEASE PAYABLE & TI ALLOWANCE $ 9,271,737 OTHER $ 44,500 -------------------- Total Unsecured Debts $ 22,953,819 (continued on next page) September 30, 2001 --------------------- Stockholders' Equity PREFERRED STOCK $ 32,395,979 COMMON STOCK $ 125,912 APIC - COMMON STOCK $ 83,195,407 GAIN/LOSS ON FOREIGN CURENCY T $ 148 PRE-PETITION RETAINED EARNINGS $ (120,115,417) POST-PETITION RETAINED EARNINGS $ (5,580,103) -------------------- Total Owners Equity $(9,978,074.12) -------------------- Total Liabilities and Stockholders Equity $ 14,222,363 ==================== Footnote: The Company made no estimate of any impairment of asset value as specified by FASB #121, Accounting for the Impairment of Long-Lived Assets. Caliber Learning Network, Inc. U.S. Bankruptcy Court Filing Case #01-59533 Monthly Operating Report For the Month ended September 30, 2001 September 30, 2001 ------------------ REVENUES 48,919 OPERATING EXPENSES SALARIES & BENEFITS 381,078 ACCOUNTING & LEGAL FEES - FACILITIES MANAGEMENT 8,368 TRAVEL 24,308 DATA COMMUNICATIONS & TELEPHONE 123,966 BAGBY RENT, PEOPLESOFT, MIS SUPPORT 42,269 INSURANCE - CORP LIABILITY 21,729 DEPREC. - FURNITURE & FIXTURES 701,616 OTHER G&A 32,076 ---------------- Total Operating Expenses 1,302,734 ---------------- Operating Income (1,253,815) NON-OPERATING EXPENSES INTEREST INCOME - INTEREST EXPENSE (2,500) ---------------- Total Non-Operating Expenses (2,500) ---------------- Income (Loss) before taxes (1,256,315) INCOME TAX EXPENSE - ---------------- Net Loss (1,256,315) ================ Caliber Learning Network, Inc. U.S. Bankruptcy Court Filing Case #01-59533 Monthly Operating Report For the Month ended September 30, 2001 Description Operating ------------------------------------------------------------------------------- Beginning cash balance 1,052,377 Net Income (1,256,315) Add: Expenses not requiring cash: Depreciation 701,616 Additional Bad Debt Reserve (71,402) Other: - ------------- Sub-total 630,214 Cash from operations (626,101) Other sources (uses) of cash: Decrease (Increase) Accounts receivable 285,587 Inventory - Equipment - Furniture & Fixtures - Prepaid assets (4,052) Other: Other long term assets - Increase (Decrease) Accounts payable 209,048 Accrued interest 2,500 Accrued professional fees Accrued rent Accrued salaries, benefits & taxes (4,200) Accrued sales tax Notes payable Other (70,791) (Less) unrecorded bank service charges ------------- Total other source (uses) of cash 418,091 ------------- Ending cash balance 844,367 ============= Balance per bank statement 925,905 Less: Outstanding checks (81,539) Add: Deposits in transit - ------------- Reconciled bank balance 844,366 ============= Variance 0 ============= Caliber Learning Network, Inc. U.S. Bankruptcy Court Filing Case #01-59533 Monthly Operating Report For the Month ended September 30, 2001 Description Payroll Tax ----------- ------- --- Beginning cash balance $ - $ - Cash receipts: Transfers from Operating $ - - Transfers from Payroll $ - - Other $ - - ------------------------------- Total cash receipts $ - - ------------------------------- Cash available $ - - Cash disbursements: Gross payroll $ - Employee benefits paid $ - Net payroll paid $ - Tranfers to tax account $ - Taxes deposited/paid during period Employees' share of FICA $ - Employer's share of FICA $ - Employees' Federal Income Tax $ - Employees' State Income Tax $ - Unemployment Tax $ - Unrecorded Bank Services charges $ - Other $ - ------------------------------- Total Disbursements $ - - ------------------------------- Ending cash balance $ - $ - =============================== Balance per bank statement $ - $ - Less: Outstanding checks $ - Add: Deposits in transit ------------------------------- Reconciled bank balance $ - $ - =============================== Variance $ - $ - =============================== Caliber Learning Network, Inc. U.S. Bankruptcy Court Filing Case #01-59533 Monthly Operating Report For the Month ended September 30, 2001

Caliber Learning Network, Inc. U.S. Bankruptcy Court Filing Case #01-59533 Monthly Operating Report For the Month ended September 30, 2001

CALIBER LEARNING NETWORK INC 8-K