8-K/A 1 g8ka-31375a.txt 8-K/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported): May 20, 2003 ------------ HOMEGOLD FINANCIAL, INC. ------------------------ (Exact name of registrant as specified in its charter) South Carolina -------------- (State or other jurisdiction of Incorporation) 000-8909 57-0513287 -------------------------------------------------------------------------------- (Commission File Number) (IRS Employer Identification No.) 2340 Broad River Road, Suite B, Columbia, South Carolina 29210 -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) (803) 365-2500 -------------- (Registrant's Telephone Number, Including Area Code) ITEM 5. OTHER EVENTS. On March 31, 2003, HomeGold Financial, Inc. ("HGFN") and one of its subsidiaries, HomeGold, Inc. ("HGI") filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of South Carolina (the "Bankruptcy Court"). HGFN's and HGI's bankruptcy cases are being jointly administered under Case No. 03-03864-B. Pursuant to the procedure prescribed in Staff Legal Bulletin No. 2, on April 14, 2003, HGFN sought a no-action position from Staff of the Commission that would permit HGFN to file, under cover of a Current Report on Form 8-K, its periodic financial reports filed with the Bankruptcy Court, in lieu of its annual and quarterly reports under the Securities Exchange Act of 1934. The Staff has not yet responded to the request. Nonetheless, in conformity with its request and the provisions of Staff Legal Bulletin No. 2, HGFN files its amended financial report and the amended financial report of HomeGold, Inc., both for the period ended April 30, 2003, filed with the Bankruptcy Court on June 30, 2003 (the "Reports"), as Exhibits 99.1 and 99.2 hereto, respectively, which Reports are incorporated herein by reference. THE REPORTS CONTAINS FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION THAT HAVE NOT BEEN AUDITED OR REVIEWED BY INDEPENDENT ACCOUNTANTS, ARE NOT PRESENTED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, AND MAY BE SUBJECT TO FUTURE RECONCILIATION AND ADJUSTMENTS. THE FINANCIAL INFORMATION INCLUDED IN THIS REPORT IS ONLY REPRESENTATIVE OF THE FILING COMPANIES AS LISTED ABOVE. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (c) EXHIBITS. 99.1 Amended Monthly Operating Report of HomeGold Financial, Inc. for the Calendar Month March 31, 2003 to April 30, 2003 filed with the U.S. Bankruptcy Court for the District of South Carolina on June 30, 2003. 99.2 Amended Monthly Operating Report of HomeGold, Inc. for the Calendar Month March 31, 2003 to April 30, 2003 filed with the U.S. Bankruptcy Court for the District of South Carolina on June 30, 2003. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HOMEGOLD FINANCIAL, INC. Date: June 4, 2003 By: /s/ Karen A. Miller ------------------- Karen A. Miller Executive Vice President, Chief Financial Officer & Treasurer EXHIBITS -------- 99.1 Amended Monthly Operating Report of HomeGold Financial, Inc. for the Calendar Month March 31, 2003 to April 30, 2003 filed with the U.S. Bankruptcy Court for the District of South Carolina on June 30, 2003. 99.2 Amended Monthly Operating Report of HomeGold, Inc. for the Calendar Month March 31, 2003 to April 30, 2003 filed with the U.S. Bankruptcy Court for the District of South Carolina on June 30, 2003. UNITED STATES BANKRUPTCY COURT DISTRICT OF SOUTH CAROLINA In Re: Homegold Financial, Inc. ) Chapter 11 ) ) Case Number 03-03865-WB Debtor(s)) ----------- ---------------------------------- MONTHLY OPERATING REPORT Calendar Month 3/31/03 to 4/30/03 ------- ------- FINANCIAL BACKGROUND INFORMATION 1. ACCOUNTING BASIS: Cash X Accrual --- --- 2. PREPARER: State the name, address, telephone number and position of the person(s) who actually compiled the information contained in this report. Shane Smith, VP - Finance 803-365-2500 ---------------------------------------- 2340 Broad River Road, Columbia, S.C. ---------------------------------------- 3. NUMBER OF EMPLOYEES paid during this period: 0 --- 4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS since the last reporting period? Yes No X . If yes, explain below: --- --- -------------------------------------------------------------------------------- 5. Are all BUSINESS LICENSES current? Yes X No Not Applicable --- --- --- 6. PRE-PETITION ACCOUNTS RECEIVABLE: Beginning Balance $13,712,961 ----------- Collected this Period 586,670* ----------- Ending Balance 13,126,291 ----------- 7. POST-PETITION ACCOUNTS RECEIVABLE: 0-30 Days: $ 0 31-60 Days: $ Over 60Days: $ -------- -------- -------- If there are any post-petition Accounts Receivable over 30 days, provide Schedule AR giving a listing of such accounts and explain the delinquencies. 8. POST-PETITION ACCOUNTS PAYABLE: 0-30 Days: $ 0 31-60 Days: $ Over 60Days: $ -------- -------- -------- If there are any POST-PETITION Accounts Payable over 30 days, provide Schedule AP giving a listing of such accounts and explain the delinquencies. 9. TAXES. Are all taxes being paid to the proper taxing authorities when due? Yes __n/a No ______. On the attached IRS Form 6123 report all tax deposits made with any financial institution for federal employment taxes. Be sure the form is complete and signed by an authorized employee of the receiving institution or taxing authority. Attach to this report a completed Form 6123 for each deposit made during the reporting period. Also attach copies of the monthly sales tax report, payroll tax report and unemployment tax report with evidence of payment of BOTH FEDERAL AND STATE TAXES. 10. ESCROW ACCOUNTS. Are you utilizing your tax account only for deposits and payment of payroll and sales taxes? Yes No X . If no, explain: N/A --- --- 11. Are all BOOKS AND RECORDS of the debtor(s) being maintained monthly and are all current? Yes X No Explain: --- --- ------------------------------------------ 12. INSURANCE EXPIRATION STATEMENT. Policy expiration dates are: Auto & Truck 12/31/03 Liability 12/31/03 -------- -------- Fire 12/31/03 Workers Comp. 12/31/03 -------- -------- 13. ACTIONS OF DEBTOR. During the last month, did the debtor: (A) Fail to defend or not oppose any action seeking to dispossess the debtor from control or custody of any asset of the estate? Yes No X Explain: --- --- -------------------------------------------------- (B) Maintain such stock, inventory, raw materials, insurance, employees and other resources as are necessary to preserve and maintain the going- concern value of the assets of the debtor? Yes No X Explain: --- --- -------------------------------------------------- 14. TRANSFER OR SALE OF PROPERTY. Did the debtor or any person with control over any of the debtor's assets transfer, convey or abandon any of the debtor's assets to another party during the period of this report other than as set forth herein (including sales by creditors)? Yes No X Explain: --- --- ------------------------------------------------------- 15. PAYMENTS TO SECURED CREDITORS during reporting period: (Attach additional sheets, if necessary.) | FREQUENCY OF | AMOUNT | NEXT | POST-PETITION | PAYMENTS PER | OF EACH | PAYMENT | PAYMENTS NOT MADE CREDITOR | CONTRACT (MO.,QTR) | PAYMENT | DUE | NUMBER & AMOUNT -------- | ------------------ | ------- | --- | --------------- N/A | | | | | | | | ------------ -------------------- --------- ----------- ------------------------ 16. PAYMENTS TO PROFESSIONALS (Attorneys, Accountants, Real Estate Agents, Auctioneers, Appraisers, etc., during reporting period: (Attach additional sheets, if necessary.) PROFESSIONAL SERVICE AMOUNT ---------------------- -------------------------- ------------------------- | | None | | ---------------------- -------------------------- ------------------------- 17. QUARTERLY U.S. TRUSTEE FEES paid during reporting period: $250 * . ------------- 18. VERIFICATION: I declare under penalty of perjury that the information contained in this monthly operating report (including attached schedules) is true and correct to the best of my knowledge, information and belief. HomeGold Financial, Inc. Dated: 6/30/03 DEBTOR-IN-POSSESSION ------- Name/ Title: Karen A. Miller, CFO By: /s/ Karen A. Miller -------------------- ------------------------ Address: 2340 Broad River Rd, Ste. B --------------------------- Columbia, SC 29210 ------------------ ___________________________________ Phone: 803-365-2500 ------------ ALL MONTHLY REPORTS MUST BE FILED AT THE BANKRUPTCY COURT (P.O. BOX 1448, COLUMBIA, SC 29202) * The Quarterly U.S. Trustee Fee was paid by HomeGold, Inc. on behalf of its parent company HomeGold Financial, Inc. UNITED STATES BANKRUPTCY COURT DISTRICT OF SOUTH CAROLINA In Re: Homegold Financial, Inc. ) Chapter 11 ) ) Case Number 03-03865-WB Debtor(s)) ----------- ---------------------------------- MONTHLY OPERATING REPORT INCOME STATEMENT (BUSINESS DEBTOR, CASH BASIS) CALENDAR MONTH 3/31/03 TO 4/30/03 ------- ------- (All figures refer to post-petition transactions)

UNITED STATES BANKRUPTCY COURT DISTRICT OF SOUTH CAROLINA In Re: HomeGold Financial, Inc. ) ) Chapter 11 ) Case Number:03-03865-WB ) ----------- Debtor(s) ) --------------------------------------- CASH DISBURSEMENTS SUMMARY REPORT Calendar Month Ending APRIL 30, 2003 Total Disbursements from Operating Account (See Note 1) N/A --------------------- Total Disbursements from Payroll Account (See Note 2) N/A --------------------- Total Disbursements from Tax Escrow Account (See Note 3) N/A --------------------- Total Disbursements from any other Account (See Note 4) N/A --------------------- Grand Total Disbursements from all Accounts N/A --------------------- NOTE 1 --Include in this amount all checks written, wire transfers made from, or any other withdrawal from the general operating account. Exclude only transfers to the debtor-in-possession payroll account, the debtor in possession tax escrow account or other debtor in possession account where the disbursements will be listed on this report. NOTE 2 --Include in this amount all checks written, wire transfers made from, or any other withdrawal from the payroll account. Exclude only transfers to the debtor-in-possession operating account, the debtor in possession tax escrow account or other debtor-in-possession account where the disbursements will be listed on this report. NOTE 3 --Include in this amount all checks written, wire transfers made from, or any other withdrawal from the tax escrow account. Exclude only transfers to the debtor-in-possession operating account, the debtor in possession payroll account or other debtor in possession account where the disbursements will be listed on this report. NOTE 4 -- Include in this amount any other disbursements made by the debtor including (but not limited to) cash paid from a petty cash fund or cash register, amounts paid from any other debtor in possession account, and amounts paid from the accounts of others on the debtors behalf (for example, disbursements made from a law firm's escrow account as a result of a sale of property.)

ACCOUNTS RECEIVABLE AS OF April 30, 2003 -------------- TOTAL DATE PAST DUE PAST DUE CREDITOR DUE INCURRED (31-60 DAYS) (OVER 60 DAYS) N/A TOTALS THIS PAGE $0.00 $0.00 $0.00 --------------- --------------- --------------- TOTALS ALL PAGES $0.00 $0.00 $0.00 --------------- --------------- --------------- ACCOUNTS RECEIVABLE AS OF April 30, 2003 -------------- TOTAL DATE PAST DUE PAST DUE CREDITOR DUE INCURRED (31-60 DAYS) (OVER 60 DAYS) N/A TOTALS THIS PAGE $0.00 $0.00 $0.00 --------------- --------------- --------------- TOTALS ALL PAGES $0.00 $0.00 $0.00 --------------- --------------- --------------- UNITED STATES BANKRUPTCY COURT DISTRICT OF SOUTH CAROLINA In Re: Homegold, Inc. ) Chapter 11 ) Case Number 03-03864-WB ) ----------- Debtor(s)) ------------------------------------ MONTHLY OPERATING REPORT CALENDAR MONTH 3/31/03 TO 4/30/03 ------- ------- FINANCIAL BACKGROUND INFORMATION 1. ACCOUNTING BASIS: Cash X Accrual --- --- 2. PREPARER: State the name, address, telephone number and position of the person(s) who actually compiled the information contained in this report. Shane Smith, VP - Finance 803-365-2500 ---------------------------------------- 2340 Broad River Road, Columbia, S.C. ---------------------------------------- 3. NUMBER OF EMPLOYEES paid during this period: 0 --- 4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS since the last reporting period? Yes No X . If yes, explain below: --- --- -------------------------------------------------------------------------------- 5. Are all BUSINESS LICENSES current? Yes X No Not Applicable --- --- --- 6. PRE-PETITION ACCOUNTS RECEIVABLE: Beginning Balance $10,671,986 ----------- Collected this Period 979,367 ----------- Ending Balance 9,692,619 ----------- 7. POST-PETITION ACCOUNTS RECEIVABLE: 0-30 Days: $ 205,265 31-60 Days: $ Over 60Days: $ -------- -------- -------- *Amount represents receivable due from EMMCO, LLC, not previously categorized as a post-petition trade receivable. If there are any POST-PETITION Accounts Receivable over 30 days, provide Schedule AR giving a listing of such accounts and explain the delinquencies. 8. POST-PETITION ACCOUNTS PAYABLE: 0-30 Days: $ 48,985 31-60 Days: $ Over 60 Days: $ -------- -------- -------- If there are any POST-PETITION Accounts Payable over 30 days, provide Schedule AP giving a listing of such accounts and explain the delinquencies. 9. TAXES. Are all taxes being paid to the proper taxing authorities when due? Yes _____ No ______. On the attached IRS Form 6123 report all tax deposits made with any financial institution for federal employment taxes. Be sure the form is complete and signed by an authorized employee of the receiving institution or taxing authority. Attach to this report a completed Form 6123 for each deposit made during the reporting period. Also attach copies of the monthly sales tax report, payroll tax report and unemployment tax report with evidence of payment of BOTH FEDERAL AND STATE TAXES. 10. ESCROW ACCOUNTS. Are you utilizing your tax account only for deposits and payment of payroll and sales taxes? Yes No X . --- --- If no, explain: CONTACT WITH 3RD PARTY VENDOR FOR PAYROLL SERVICES. PROVIDER MAKES DEPOSIT ON BEHALF. 11. Are all BOOKS AND RECORDS of the debtor(s) being maintained monthly and are all current? Yes X No Explain: --- --- ------------------------------------------ 12. INSURANCE EXPIRATION STATEMENT. Policy expiration dates are: Auto & Truck 12/31/03 Liability 12/31/03 -------- -------- Fire 12/31/03 Workers Comp. 12/31/03 -------- -------- 13. ACTIONS OF DEBTOR. During the last month, did the debtor: (A) Fail to defend or not oppose any action seeking to dispossess the debtor from control or custody of any asset of the estate? Yes No X Explain: --- --- -------------------------------------------------- (B) Maintain such stock, inventory, raw materials, insurance, employees and other resources as are necessary to preserve and maintain the going- concern value of the assets of the debtor? Yes No X Explain: --- --- -------------------------------------------------- 14. TRANSFER OR SALE OF PROPERTY. Did the debtor or any person with control over any of the debtor's assets transfer, convey or abandon any of the debtor's assets to another party during the period of this report other than as set forth herein (including sales by creditors)? Yes No X Explain: --- --- ------------------------------------------------------- 15. PAYMENTS TO SECURED CREDITORS during reporting period: (Attach additional sheets, if necessary.) | FREQUENCY OF | AMOUNT | NEXT | POST-PETITION | PAYMENTS PER | OF EACH | PAYMENT | PAYMENTS NOT MADE CREDITOR | CONTRACT (MO.,QTR) | PAYMENT | DUE | NUMBER & AMOUNT -------- | ------------------ | ------- | --- | --------------- N/A | | | | | | | | ------------ -------------------- --------- ----------- ------------------------ 16. PAYMENTS TO PROFESSIONALS (Attorneys, Accountants, Real Estate Agents, Auctioneers, Appraisers, etc., during reporting period: (Attach additional sheets, if necessary.) PROFESSIONAL SERVICE AMOUNT ---------------------- -------------------------- ------------------------- | | None | | ---------------------- -------------------------- ------------------------- 17. QUARTERLY U.S. TRUSTEE FEES paid during reporting period: $250 . ------------- 18. VERIFICATION: I declare under penalty of perjury that the information contained in this monthly operating report (including attached schedules) is true and correct to the best of my knowledge, information and belief. HomeGold Financial, Inc. Dated: 6/30/03 DEBTOR-IN-POSSESSION ------- Name/ Title: Karen A. Miller, CFO By: /s/ Karen A. Miller -------------------- ------------------------ Address: 2340 Broad River Rd, Ste. B --------------------------- Columbia, SC 29210 ------------------ ___________________________________ Phone: 803-365-2500 ------------ ALL MONTHLY REPORTS MUST BE FILED AT THE BANKRUPTCY COURT (P.O. BOX 1448, COLUMBIA, SC 29202) UNITED STATES BANKRUPTCY COURT DISTRICT OF SOUTH CAROLINA In Re: HomeGold, Inc. ) Chapter 11 ) ) Case Number 03-03864-WB Debtor(s)) ----------- ------------------------------------- MONTHLY OPERATING REPORT INCOME STATEMENT (BUSINESS DEBTOR, CASH) CALENDAR MONTH 4/30/03 TO 5/31/03 ------- ------- (All figures refer to post-petition transactions)

Ending Cash Balance (L) and Reconciled Bank Balance (P) should equal. --------------------------------------------------------------------- * A COPY OF THE BANK STATEMENT(S) SHOULD BE ATTACHED TO THIS FORM. UNITED STATES BANKRUPTCY COURT DISTRICT OF SOUTH CAROLINA In Re: HomeGold, Inc. ) ) Chapter 11 ) Case Number:03-03864-WB ) ----------- Debtor(s) ) ------------------------------------------ CASH DISBURSEMENTS SUMMARY REPORT Calendar Month Ending April 30,2003 ------------- Total Disbursements from Operating Account (See Note 1) 1,157,341 --------- Total Disbursements from Payroll Account (See Note 2) 429,227 --------- Total Disbursements from Tax Escrow Account (See Note 3) --------------- Total Disbursements from any other Account (See Note 4) --------------- Grand Total Disbursements from all Accounts 1,586,568 --------- NOTE 1 --Include in this amount all checks written, wire transfers made from, or any other withdrawal from the general operating account. Exclude only transfers to the debtor-in-possession payroll account, the debtor in possession tax escrow account or other debtor in possession account where the disbursements will be listed on this report. NOTE 2 --Include in this amount all checks written, wire transfers made from, or any other withdrawal from the payroll account. Exclude only transfers to the debtor-in-possession operating account, the debtor in possession tax escrow account or other debtor-in-possession account where the disbursements will be listed on this report. NOTE 3 --Include in this amount all checks written, wire transfers made from, or any other withdrawal from the tax escrow account. Exclude only transfers to the debtor-in-possession operating account, the debtor in possession payroll account or other debtor in possession account where the disbursements will be listed on this report. NOTE 4 -- Include in this amount any other disbursements made by the debtor including (but not limited to) cash paid from a petty cash fund or cash register, amounts paid from any other debtor in possession account, and amounts paid from the accounts of others on the debtors behalf (for example, disbursements made from a law firm's escrow account as a result of a sale of property.)

ACCOUNTS RECEIVABLE AS OF April 30, 2003 -------------- TOTAL DATE PAST DUE PAST DUE CREDITOR DUE INCURRED (31-60 DAYS) (OVER 60 DAYS) Accredited Lending 7,951.92 4/25/03 BMC Mortgage 8,954.22 4/19/03 Equity First 2,427.50 4/14/03 Flagstar 12,576.08 4/10/03 Option One 4,777.20 4/23/03 EMMCO, LLC 68,578.00 4/15/03 Carolina Investors 100,000.00 4/30/03 TOTALS THIS PAGE $205,265.92 0.00 0.00 --------------- --------------- --------------- TOTALS ALL PAGES $205,264.92 0.00 0.00 --------------- --------------- ---------------

A/P: Pursuant to order authorizing debtor to pay certain pre-petition claims and return monies being held for the benefit of third parties.

4550423701 PAGE ##XXH1834DPCSTM 04300304550423701 Statement of Account Last statement:April 04, 2003 This statement:April 30, 2003 Total days in statement period: 27 4550423701 031 834 Page 1 of 5 HOMEGOLD INC BANKRUPTCY NO 03-03864-B Direct inquiries to: 91 OPERATING ACCOUNT/DEBTORS IN POSSESSION 2340 B BROAD RIVER RD NBSC Lexington COLUMBIA SC 29210 5456 Sunset Boulevard Lexington SC 29072 Summary of Account Balance Account Number Ending Balance Commercial Checking 4550423701 $2,155,277.67 LET FREEDOM RING! Commercial Checking Account Number 4550423701 91 Enclosures Beginning balance 0.00 Deposits/Credits 3,352,241.70 Withdrawals/Debits 1,196,964.03 Ending balance 2,155,277.67 Checks Number Date Amount Control 103 04-25 25.00 00006230423190 1001 * 04-14 626.01 00006127638240 1002 04-23 252.00 00006131327030 1003 04-23 234.00 00006131327040 1004 04-23 229.50 00006131327050 1005 04-29 19.71 00006232692490 1006 04-18 21.90 00006227939350 1007 04-18 14.60 00006227939340 1008 04-18 10.95 00006227939330 1009 04-18 15.70 00006227939320 1010 04-28 44.94 00006231293460 1011 04-28 31.79 00006231293450 1012 04-28 1,300.00 00006231293440 1013 04-17 57.63 00006227399050 1014 04-21 15.84 00006228775030 4550423701 PAGE ##XXH1834DPCSTM 04300304550423701 April 30, 2003 4550423701 HOMEGOLD INC Page 2 of 5 Checks 1015 04-21 7.92 00006228775040 1016 04-24 9.53 00006132166840 1017 04-24 5.39 00006132166830 1018 04-17 38.75 00006227406710 1019 04-28 964.09 00006231293470 1020 04-23 50.00 00006131448340 1022 * 04-28 560.76 00006231293430 1024 * 04-24 1,789.98 00006132082300 1025 04-21 73,159.87 00006130009150 1026 04-23 217.36 00006131418360 1027 04-23 1,271.36 00006131245480 1028 04-28 801.04 00006231106310 1029 04-25 659.55 00006132661040 1032 * 04-24 25.00 00006132056260 1037 * 04-24 110.00 00006132055660 1039 * 04-23 100.00 00006131464180 1040 04-23 40.00 00006131341840 1044 * 04-18 66.75 00006227823500 1045 04-22 159.90 00006229233740 1046 04-21 500.00 00006130053090 1047 04-21 1,395.00 00006130066800 1048 04-23 138.20 00006131102730 1049 04-28 291.06 00006231123610 1050 04-23 1,975.00 00006131210230 1051 04-21 15.84 00006228775020 1052 04-23 118.98 00006131231900 1053 04-21 4,883.78 00006130324210 1054 04-22 132.82 00006229233750 1055 04-22 4,595.39 00006229254680 1056 04-22 37.00 00006228886400 1057 04-23 847.41 00006131450700 1058 04-22 185.00 00006228886410 1059 04-22 370.00 00006228958720 1060 04-22 1,397.10 00006228910790 1061 04-22 956.48 00006229200060 1062 04-25 260.57 00006230310440 1063 04-23 195.04 00006131195910 1065 * 04-30 825.02 00006133221890 1066 04-30 460.08 00006133355980 1068 * 04-28 1,537.96 00006231256870 1069 04-28 891.59 00006231173890 1071 * 04-30 3,926.81 00006133247400 1073 * 04-23 772.65 00006131240210 1074 04-24 468.39 00006132034130 1075 04-24 1,003.09 00006132033940 1076 04-28 579.04 00006231362370 1077 04-23 461.63 00006131418930 4550423701 PAGE ##XXH1834DPCSTM 04300304550423701 April 30, 2003 4550423701 HOMEGOLD INC Page 3 of 5 Checks 1078 04-22 825.90 00006228913370 1079 04-30 676.64 00006133279510 1080 04-23 583.96 00006131126730 1082 * 04-23 578.26 00006131418840 1083 04-25 861.76 00006132671290 1084 04-23 847.73 00006131433120 1085 04-24 458.58 00006132095440 1086 04-28 32,992.03 00006231459540 1087 04-23 533.32 00006131231910 1089 * 04-24 7.92 00006132389120 1090 04-22 974.96 00006228918900 1091 04-22 836.90 00006228918910 1092 04-24 12,210.00 00006131930150 1093 04-25 740.00 00006230238150 1094 04-24 2,000.00 00006131880020 1097 * 04-25 3,600.00 00006132674330 1098 04-28 120.24 00006231299260 1099 04-28 16,518.83 00006231147120 1117 * 04-30 378.39 00006133145640 1127 * 04-30 680.21 00006133082900 55359 * 04-28 25.00 00006231358610 * Skip in check sequence Other Debits Date Transaction Type Reference Number Description Amount 04-10 Dp Correction Debit 00006127012361 638.50 04-10 Service Charge Dr 00006127012361 DP CORRECTION DEBI 5.00 04-10 Preauthorized Wd 91000012073760 DELUXE BUS SYS. 592.52 BUS PRODS 030410 11472820 04-11 Wire Transfer-Out 00006225005990 37,375.79 04-11 Wire Transfer-Out 00006225006000 4,000.00 04-11 Wire Transfer-Out 00006225005960 1,023.86 04-11 Wire Transfer-Out 00006225005950 914.91 04-11 Wire Transfer-Out 00006225005980 727.91 04-11 Wire Transfer-Out 00006225005940 693.18 04-11 Wire Transfer-Out 00006225005930 499.04 04-11 Wire Transfer-Out 00006225005970 451.29 04-11 Wire Transfer Fee 124000411105545 12.00 04-11 Wire Transfer Fee 124000411105545 12.00 04-11 Wire Transfer Fee 124000411105652 12.00 04-11 Wire Transfer Fee 124000411105652 12.00 04-11 Wire Transfer Fee 124000411105652 12.00 04-11 Wire Transfer Fee 124000411105652 12.00 04-11 Wire Transfer Fee 124000411105652 12.00 04-11 Wire Transfer Fee 124000411105652 12.00 4550423701 PAGE ##XXH1834DPCSTM 04300304550423701 April 30, 2003 4550423701 HOMEGOLD INC Page 4 of 5

4550423701 PAGE ##XXH1834DPCSTM 04300304550423701 April 30, 2003 4550423701 HOMEGOLD INC Page 5 of 5

4550422901 PAGE ##XXH1834DPCSTM 04300304550422901 Statement of Account Last statement:April 04, 2003 This statement:April 30, 2003 Total days in statement period: 27 4550422901 031 834 Page 1 of 2 HOMEGOLD INC BANKRUPTCY NO 03-03864-B Direct inquiries to: 1 PAYROLL ACCOUNT/DEBTORS IN POSSESSION 2340 B BROAD RIVER RD NBSC Lexington COLUMBIA SC 29210 5456 Sunset Boulevard Lexington SC 29072 Summary of Account Balance Account Number Ending Balance Commercial Checking 4550422901 $0.00 LET FREEDOM RING! Commercial Checking Account Number 4550422901 1 Enclosure Beginning balance 0.00 Deposits/Credits 369,354.78 Withdrawals/Debits 369,354.78 Ending balance 0.00 Checks Number Date Amount Control 1002 04-21 977.95 00006130306560 Other Debits Date Transaction Type Reference Number Description Amount 04-16 Wire Transfer-Out 874000416145617 BNF=ADP INC FUNDS 162,314.13 MGMNT. TAS DEPOSIT CUSTODIAL ACCT, REQUEST BY ADP REF: 42AEG8448140VV 04-16 NSF Fee 00000417094346 FOR OVERDRAFT 30.00 WIRE TRANSFER-OUT 4550422901 PAGE ##XXH1834DPCSTM 04300304550422901 April 30, 2003 4550422901 HOMEGOLD INC Page 2 of 2 Other Debits Date Transaction Type Reference Number Description Amount 04-17 Wire Transfer-Out 874000417101142 BNF=ADP INC. FUNDS 66,350.87 MGMT TAX DEPOSIT CUSTODIAL ACCT. REQUEST OF ADP TAX S VC REF:#42AEG8448139VV 04-23 Preauthorized Wd 91000010729701 ADP TX/FINCL SVC 344.00 ADP - TAX 030423 42AEG 8487318VV 04-25 Preauthorized Wd 21000022978866 ADP PAYROLL FEES 983.22 ADP - FEES 030425 10AEG 0132169 04-30 Wire Transfer-Out 633000430160431 138,354.61 Deposits/Other Credits Date Transaction Type Reference Number Description Amount 04-17 Automatic Transfer 00000000000000 TRANSFER FROM 30.00 ZERO BALANCE ACCT 4550423701 04-17 Deposit 00006227567310 162,314.13 04-17 Deposit 00006227565560 66,350.87 04-21 Automatic Transfer 00000000000000 TRANSFER FROM 977.95 ZERO BALANCE ACCT 4550423701 04-23 Automatic Transfer 00000000000000 TRANSFER FROM 344.00 ZERO BALANCE ACCT 4550423701 04-25 Automatic Transfer 00000000000000 TRANSFER FROM 983.22 ZERO BALANCE ACCT 4550423701 04-30 Automatic Transfer 00000000000000 TRANSFER FROM 138,354.61 ZERO BALANCE ACCT 4550423701 Balance Summary Date Amount Date Amount Date Amount 04-16 -162,344.13 04-21 0.00 04-25 0.00 04-17 0.00 04-23 0.00 04-30 0.00 4550421001 PAGE ##XXH1834DPCSTM 04300304550421001 Statement of Account Last statement:April 04, 2003 This statement:April 30, 2003 Total days in statement period: 27 4550421001 031 834 Page 1 of 1 HOMEGOLD INC BANKRUPTCY NO 03-03864-B Direct inquiries to: 0 TAXES/SPEC ESCROW/DEBTORS IN POSSESSION 2340 B BROAD RIVER RD NBSC Lexington COLUMBIA SC 29210 5456 Sunset Boulevard Lexington SC 29072 Summary of Account Balance Account Number Ending Balance Commercial Checking 4550421001 $0.00 LET FREEDOM RING! Commercial Checking Account Number 4550421001 Beginning balance 0.00 Deposits/Credits 0.00 Withdrawals/Debits 0.00 Ending balance 0.00

HOMEGOLD FINANCIAL INC 8-K/A