-----------------------------------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT
-------------------------------------------------------------------
CASE NAME: KITTY HAWK AIRCARGO, INC. ACCRUAL BASIS
-------------------------------------------------------------------
-------------------------------------------------------------------
CASE NUMBER: 400-42142-BJH-11 02/13/95, RWD, 2/96
-------------------------------------------------------------------
-------------------------------------------------------------------
JUDGE: XXXXXXX X. XXXXXX
-------------------------------------------------------------------
UNITED STATES BANKRUPTCY COURT
NORTHERN DISTRICT OF TEXAS
SIXTH DIVISION
MONTHLY OPERATING REPORT - AMENDED
MONTH ENDING:
JANUARY 31, 2001
IN ACCORDANCE WITH TITLE 28, XXXXXXX 0000, XX XXX XXXXXX XXXXXX CODE, I
DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING
MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE
ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS
ARE TRUE, CORRECT AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN
RESPONSIBLE PARTY): IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY
KNOWLEDGE.
RESPONSIBLE PARTY:
/s/ Xxxx Xxxxx CHIEF FINANCIAL OFFICER
--------------------------------------------- -----------------------------------------------------------
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY TITLE
XXXX XXXXX 3/20/2001
--------------------------------------------- -----------------------------------------------------------
PRINTED NAME OF RESPONSIBLE PARTY AMENDED AS OF DATE
PREPARER:
/s/ Xxxxx X. Xxxxx CONTROLLER, KITTY HAWK INC.
--------------------------------------------- -----------------------------------------------------------
ORIGINAL SIGNATURE OF PREPARER TITLE
XXXXX X. XXXXX 3/20/2001
--------------------------------------------- ------------------------------------------------------------
PRINTED NAME OF PREPARER AMENDED AS OF DATE
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT
-----------------------------------------------------------------
CASE NAME: KITTY HAWK AIRCARGO, INC. ACCRUAL BASIS-1
-----------------------------------------------------------------
-----------------------------------------------------------------
CASE NUMBER: 400-42142-BJH-11 02/13/95, RWD, 2/96
-----------------------------------------------------------------
-----------------------------------------------------------------
AMENDED 3/20/01
COMPARATIVE BALANCE SHEET
-------------------------------------------------------------------------------------------------------------------------
SCHEDULE MONTH MONTH MONTH
--------------------------------------------------
ASSETS AMOUNT JANUARY, 2001
-------------------------------------------------------------------------------------------------------------------------
1. UNRESTRICTED CASH $16,904 $20,924 $0 $0
-------------------------------------------------------------------------------------------------------------------------
2. RESTRICTED CASH $0 $0 $0 $0
-------------------------------------------------------------------------------------------------------------------------
3. TOTAL CASH $16,904 $20,924 $0 $0
-------------------------------------------------------------------------------------------------------------------------
4. ACCOUNTS RECEIVABLE (NET) $29,303,045 $26,804,113 $0 $0
-------------------------------------------------------------------------------------------------------------------------
5. INVENTORY $1,508,508 $2,427,576 $0 $0
-------------------------------------------------------------------------------------------------------------------------
6. NOTES RECEIVABLE $0 $0 $0 $0
-------------------------------------------------------------------------------------------------------------------------
7. PREPAID EXPENSES $2,294,717 $16,188,438 $0 $0
-------------------------------------------------------------------------------------------------------------------------
8. OTHER (ATTACH LIST) $111,256,463 ($41,337,323) $0 $0
-------------------------------------------------------------------------------------------------------------------------
9. TOTAL CURRENT ASSETS $144,379,636 $4,103,728 $0 $0
-------------------------------------------------------------------------------------------------------------------------
10. PROPERTY, PLANT & EQUIPMENT $166,772,560 $206,205,090 $0 $0
-------------------------------------------------------------------------------------------------------------------------
11. LESS: ACCUMULATED
DEPRECIATION / DEPLETION $0 $51,433,060 $0 $0
-------------------------------------------------------------------------------------------------------------------------
12. NET PROPERTY, PLANT &
EQUIPMENT $166,772,560 $154,772,030 $0 $0
-------------------------------------------------------------------------------------------------------------------------
13. DUE FROM INSIDERS
-------------------------------------------------------------------------------------------------------------------------
14. OTHER ASSETS - NET OF
AMORTIZATION (ATTACH LIST) $0 $2,320,000 $0 $0
-------------------------------------------------------------------------------------------------------------------------
15. OTHER (ATTACH LIST) $0 $0 $0 $0
-------------------------------------------------------------------------------------------------------------------------
16. TOTAL ASSETS $311,152,196 $161,195,758 $0 $0
-------------------------------------------------------------------------------------------------------------------------
POSTPETITION LIABILITIES
-------------------------------------------------------------------------------------------------------------------------
17. ACCOUNTS PAYABLE $2,970,627 $0 $0
-------------------------------------------------------------------------------------------------------------------------
18. TAXES PAYABLE $38,000 $0 $0
-------------------------------------------------------------------------------------------------------------------------
19. NOTES PAYABLE $900,000 $0 $0
-------------------------------------------------------------------------------------------------------------------------
20. PROFESSIONAL FEES $0 $0 $0
-------------------------------------------------------------------------------------------------------------------------
21. SECURED DEBT $8,185,926 $0 $0
-------------------------------------------------------------------------------------------------------------------------
22. OTHER (ATTACH LIST) $10,396,948 $0 $0
-------------------------------------------------------------------------------------------------------------------------
23. TOTAL POSTPETITION
LIABILITIES $22,491,501 $0 $0
-------------------------------------------------------------------------------------------------------------------------
PREPETITION LIABILITIES
-------------------------------------------------------------------------------------------------------------------------
24. SECURED DEBT $27,100,000 $0 $0
-------------------------------------------------------------------------------------------------------------------------
25. PRIORITY DEBT $2,177,962 $0 $0 $0
-------------------------------------------------------------------------------------------------------------------------
26. UNSECURED DEBT $184,252,878 $30,442,680 $0 $0
-------------------------------------------------------------------------------------------------------------------------
27. OTHER (ATTACH LIST) $0 $20,040,527 $0 $0
-------------------------------------------------------------------------------------------------------------------------
28. TOTAL PREPETITION LIABILITIES $186,430,840 $77,583,207 $0 $0
-------------------------------------------------------------------------------------------------------------------------
29. TOTAL LIABILITIES $186,430,840 $100,074,708 $0 $0
-------------------------------------------------------------------------------------------------------------------------
EQUITY
-------------------------------------------------------------------------------------------------------------------------
30. PREPETITION OWNERS' EQUITY $69,645,449 $0 $0
-------------------------------------------------------------------------------------------------------------------------
31. POSTPETITION CUMULATIVE
PROFIT OR (LOSS) ($8,524,399) $0 $0
-------------------------------------------------------------------------------------------------------------------------
32. DIRECT CHARGES TO EQUITY
(ATTACH EXPLANATION) $0 $0 $0
-------------------------------------------------------------------------------------------------------------------------
33. TOTAL EQUITY $0 $61,121,050 $0 $0
-------------------------------------------------------------------------------------------------------------------------
34. TOTAL LIABILITIES &
OWNERS' EQUITY $186,430,840 $161,195,758 $0 $0
-------------------------------------------------------------------------------------------------------------------------
$0 $0 $0
---------------------------------------------------------------------------------------------------------------------------------
===================================================================================================================================
MONTHLY OPERATING REPORT
-----------------------------------------------------------------
CASE NAME: KITTY HAWK AIRCARGO, INC. ACCRUAL BASIS-2 AMENDED 3/20/01
-----------------------------------------------------------------
-----------------------------------------------------------------
CASE NUMBER: 400-42142-BJH-11 02/13/95, RWD, 2/96
-----------------------------------------------------------------
--------------------------------------------------------
INCOME STATEMENT AMENDED 3/20/01
--------------------------------------------------------------------------------------------------------------------------
MONTH MONTH MONTH QUARTER
-----------------------------------------------------
REVENUES JANUARY, 2001 TOTAL
--------------------------------------------------------------------------------------------------------------------------
1. GROSS REVENUES $9,800,616 $0 $0 $9,800,616
--------------------------------------------------------------------------------------------------------------------------
2. LESS: RETURNS & DISCOUNTS $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
3. NET REVENUE $9,800,616 $0 $0 $9,800,616
--------------------------------------------------------------------------------------------------------------------------
COST OF GOODS SOLD
--------------------------------------------------------------------------------------------------------------------------
4. MATERIAL $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
5. DIRECT LABOR $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
6. DIRECT OVERHEAD $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
7. TOTAL COST OF GOODS SOLD $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
8. GROSS PROFIT $9,800,616 $0 $0 $9,800,616
--------------------------------------------------------------------------------------------------------------------------
OPERATING EXPENSES
--------------------------------------------------------------------------------------------------------------------------
9. OFFICER / INSIDER COMPENSATION $58,334 $0 $0 $58,334
--------------------------------------------------------------------------------------------------------------------------
10. SELLING & MARKETING $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
11. GENERAL & ADMINISTRATIVE $1,095,685 $0 $0 $1,095,685
--------------------------------------------------------------------------------------------------------------------------
12. RENT & LEASE $2,510,052 $0 $0 $2,510,052
--------------------------------------------------------------------------------------------------------------------------
13. OTHER (ATTACH LIST) $12,863,148 $0 $0 $12,863,148
--------------------------------------------------------------------------------------------------------------------------
14. TOTAL OPERATING EXPENSES $16,527,219 $0 $0 $16,527,219
--------------------------------------------------------------------------------------------------------------------------
15. INCOME BEFORE NON-OPERATING
INCOME & EXPENSE ($6,726,603) $0 $0 ($6,726,603)
--------------------------------------------------------------------------------------------------------------------------
OTHER INCOME & EXPENSES
--------------------------------------------------------------------------------------------------------------------------
16. NON-OPERATING INCOME (ATT. LIST) ($1,968) $0 $0 ($1,968)
--------------------------------------------------------------------------------------------------------------------------
17. NON-OPERATING EXPENSE (ATT. LIST) $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
18. INTEREST EXPENSE $635,066 $0 $0 $635,066
--------------------------------------------------------------------------------------------------------------------------
19. DEPRECIATION / DEPLETION $116,821 $0 $0 $116,821
--------------------------------------------------------------------------------------------------------------------------
20. AMORTIZATION $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
21. OTHER (ATTACH LIST) ($6,750,819) $0 $0 ($6,750,819)
--------------------------------------------------------------------------------------------------------------------------
22. NET OTHER INCOME & EXPENSES ($6,000,900) $0 $0 ($6,000,900)
--------------------------------------------------------------------------------------------------------------------------
REORGANIZATION EXPENSES
--------------------------------------------------------------------------------------------------------------------------
23. PROFESSIONAL FEES $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
24. U.S. TRUSTEE FEES $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
25. OTHER (ATTACH LIST) $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
26. TOTAL REORGANIZATION EXPENSES $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
27. INCOME TAX ($290,281) $0 $0 ($290,281)
--------------------------------------------------------------------------------------------------------------------------
28. NET PROFIT (LOSS) ($435,422) $0 $0 ($435,422)
--------------------------------------------------------------------------------------------------------------------------
==================================================================================================================================
----------------------------------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT
-----------------------------------------------------------------
CASE NAME: KITTY HAWK AIRCARGO, INC. ACCRUAL BASIS-3
-----------------------------------------------------------------
-----------------------------------------------------------------
CASE NUMBER: 400-42142-BJH-11 02/13/95, RWD, 2/96
-----------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------
MONTH MONTH MONTH QUARTER
CASH RECEIPTS AND --------------------------------------------------------
DISBURSEMENTS JANUARY, 2001 TOTAL
-------------------------------------------------------------------------------------------------------
1. CASH - BEGINNING OF MONTH $20,824 $20,924 $20,924 $20,824
--------------------------------------------------------------------------------------------------------------------------
RECEIPTS FROM OPERATIONS
--------------------------------------------------------------------------------------------------------------------------
2. CASH SALES $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
COLLECTION OF ACCOUNTS RECEIVABLE
--------------------------------------------------------------------------------------------------------------------------
3. PREPETITION $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
4. POSTPETITION $47,561,767 $0 $0 $47,561,767
--------------------------------------------------------------------------------------------------------------------------
5. TOTAL OPERATING RECEIPTS $47,561,767 $0 $0 $47,561,767
--------------------------------------------------------------------------------------------------------------------------
NON - OPERATING RECEIPTS
--------------------------------------------------------------------------------------------------------------------------
6. LOANS & ADVANCES (ATTACH LIST) $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
7. SALE OF ASSETS $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
8. OTHER (ATTACH LIST) ($47,561,667) $0 $0 ($47,561,667)
--------------------------------------------------------------------------------------------------------------------------
9. TOTAL NON-OPERATING RECEIPTS ($47,561,667) $0 $0 ($47,561,667)
--------------------------------------------------------------------------------------------------------------------------
10. TOTAL RECEIPTS $100 $0 $0 $100
--------------------------------------------------------------------------------------------------------------------------
11. TOTAL CASH AVAILABLE $20,924 $20,924 $20,924 $20,924
--------------------------------------------------------------------------------------------------------------------------
OPERATING DISBURSEMENTS
--------------------------------------------------------------------------------------------------------------------------
12. NET PAYROLL $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
13. PAYROLL TAXES PAID $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
14. SALES, USE & OTHER TAXES PAID $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
15. SECURED / RENTAL / LEASES $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
16. UTILITIES $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
17. INSURANCE $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
18. INVENTORY PURCHASES $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
19. VEHICLE EXPENSES $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
20. TRAVEL $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
21. ENTERTAINMENT $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
22. REPAIRS & MAINTENANCE $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
23. SUPPLIES $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
24. ADVERTISING $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
25. OTHER (ATTACH LIST) $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
26. TOTAL OPERATING DISBURSEMENTS $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
REORGANIZATION EXPENSES
--------------------------------------------------------------------------------------------------------------------------
27. PROFESSIONAL FEES $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
28. U.S. TRUSTEE FEES $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
29. OTHER (ATTACH LIST) $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
30. TOTAL REORGANIZATION EXPENSES $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
31. TOTAL DISBURSEMENTS $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
32. NET CASH FLOW $100 $0 $0 $100
--------------------------------------------------------------------------------------------------------------------------
33. CASH - END OF MONTH $20,924 $20,924 $20,924 $20,924
--------------------------------------------------------------------------------------------------------------------------
===================================================================================================================================
----------------------------------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT
-----------------------------------------------------------------
CASE NAME: KITTY HAWK AIRCARGO, INC. ACCRUAL BASIS-4
-----------------------------------------------------------------
-----------------------------------------------------------------
CASE NUMBER: 400-42142-BJH-11 02/13/95, RWD, 2/96
-----------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------
SCHEDULE MONTH MONTH MONTH
-----------------------------------------------------
ACCOUNTS RECEIVABLE AGING AMOUNT JANUARY, 2001
-------------------------------------------------------------------------------------------------------------------------
1. 0-30 $27,808,237 $23,056,502 $0 $0
-------------------------------------------------------------------------------------------------------------------------
2. 31-60 $648,873 $329,211 $0 $0
-------------------------------------------------------------------------------------------------------------------------
3. 61-90 $923,454 $46,815 $0 $0
-------------------------------------------------------------------------------------------------------------------------
4. 91+ ($77,519) $1,377,605 $0 $0
-------------------------------------------------------------------------------------------------------------------------
5. TOTAL ACCOUNTS RECEIVABLE $29,303,045 $24,810,133 $0 $0
-------------------------------------------------------------------------------------------------------------------------
6. AMOUNT CONSIDERED UNCOLLECTIBLE
-------------------------------------------------------------------------------------------------------------------------
7. ACCOUNTS RECEIVABLE (NET) $29,303,045 $24,810,133 $0 $0
-------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------
AGING OF POSTPETITION TAXES AND PAYABLES MONTH: JANUARY, 2001
----------------------------
---------------------------------------------------------------------------------------------------------------------------
0-30 31-60 61-90 91+
TAXES PAYABLE DAYS DAYS DAYS DAYS TOTAL
---------------------------------------------------------------------------------------------------------------------------
1. FEDERAL $0 $0 $0 $0 $0
---------------------------------------------------------------------------------------------------------------------------
2. STATE $38,000 $0 $0 $0 $38,000
---------------------------------------------------------------------------------------------------------------------------
3. LOCAL $0 $0 $0 $0
---------------------------------------------------------------------------------------------------------------------------
4. OTHER (ATTACH LIST) $0 $0 $0 $0
---------------------------------------------------------------------------------------------------------------------------
5. TOTAL TAXES PAYABLE $38,000 $0 $0 $0 $38,000
---------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------
6. ACCOUNTS PAYABLE $1,499,748 $244,197 $53,514 $1,173,169 $2,970,628
---------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------
STATUS OF POSTPETITION TAXES MONTH: JANUARY, 2001
------------------------------
---------------------------------------------------------------------------------------------------------------------------
BEGINNING AMOUNT ENDING
TAX WITHHELD AND/ AMOUNT TAX
FEDERAL LIABILITY* 0R ACCRUED PAID LIABILITY
---------------------------------------------------------------------------------------------------------------------------
1. WITHHOLDING** $0 $1,005,989 $1,005,989 $0
---------------------------------------------------------------------------------------------------------------------------
2. FICA-EMPLOYEE** $0 $0
---------------------------------------------------------------------------------------------------------------------------
3. FICA-EMPLOYER** $0 $0
---------------------------------------------------------------------------------------------------------------------------
4. UNEMPLOYMENT $0 $0
---------------------------------------------------------------------------------------------------------------------------
5. INCOME $0 $0 $0 $0
---------------------------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) $0 $0
---------------------------------------------------------------------------------------------------------------------------
7. TOTAL FEDERAL TAXES $0 $1,005,989 $1,005,989 $0
---------------------------------------------------------------------------------------------------------------------------
STATE AND LOCAL
---------------------------------------------------------------------------------------------------------------------------
8. WITHHOLDING $0 $0
---------------------------------------------------------------------------------------------------------------------------
9. SALES $0 $0
---------------------------------------------------------------------------------------------------------------------------
10. EXCISE $289,994 $38,000 $289,994 $38,000
---------------------------------------------------------------------------------------------------------------------------
11. UNEMPLOYMENT $0 $0
---------------------------------------------------------------------------------------------------------------------------
12. REAL PROPERTY $0 $0
---------------------------------------------------------------------------------------------------------------------------
13. PERSONAL PROPERTY $0 $0 $0 $0
---------------------------------------------------------------------------------------------------------------------------
14. OTHER (ATTACH LIST) $0 $0
---------------------------------------------------------------------------------------------------------------------------
15. TOTAL STATE & LOCAL $289,994 $38,000 $289,994 $38,000
---------------------------------------------------------------------------------------------------------------------------
16. TOTAL TAXES $289,994 $1,043,989 $1,295,983 $38,000
---------------------------------------------------------------------------------------------------------------------------
* The beginning tax liability should represent the liability from
the prior month or, if this is the first operating report, the
amount should be zero.
** Attach photocopies of IRS Form 6123 or your FTD coupon and
payment receipt to verify payment or deposit.
===================================================================================================================================
----------------------------------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT
-----------------------------------------------------------------
CASE NAME: KITTY HAWK AIRCARGO, INC. ACCRUAL BASIS-5
-----------------------------------------------------------------
-----------------------------------------------------------------
CASE NUMBER: 400-42142-BJH-11 02/13/95, RWD, 2/96
-----------------------------------------------------------------
The debtor in possession must complete the reconciliation below for each
bank account, including all general, payroll and tax accounts, as well
as all savings and investment accounts, money market accounts,
certificates of deposit, government obligations, etc.
Accounts with restricted funds should be identified by placing an
asterisk next to the account number. Attach additional sheets if
necessary.
MONTH: JANUARY, 2001
-------------
-------------------------------------------------------------
BANK RECONCILIATIONS
Account #1 Account #2 Account #3
---------------------------------------------------------------------------------------------------------------------------
A. BANK: Bank One
---------------------------------------------------------------------------------------------------------------------------
B. ACCOUNT NUMBER: 100130152 TOTAL
---------------------------------------------------------------------------------------------------------------------------
C. PURPOSE (TYPE): Operating Account
---------------------------------------------------------------------------------------------------------------------------
1. BALANCE PER BANK STATEMENT $0 $0
---------------------------------------------------------------------------------------------------------------------------
2. ADD: TOTAL DEPOSITS NOT CREDITED $0 $0
--------------------------------------------------------------------------------------------------------------------------
3. SUBTRACT: OUTSTANDING CHECKS $0 $0
--------------------------------------------------------------------------------------------------------------------------
4. OTHER RECONCILING ITEMS $0 $0
--------------------------------------------------------------------------------------------------------------------------
5. MONTH END BALANCE PER BOOKS $0 $0 $0 $0
--------------------------------------------------------------------------------------------------------------------------
6. NUMBER OF LAST CHECK WRITTEN
--------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------
INVESTMENT ACCOUNTS
---------------------------------------------------------------------------------------------------------------------------
DATE OF TYPE OF PURCHASE CURRENT
BANK, ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE
---------------------------------------------------------------------------------------------------------------------------
7.
---------------------------------------------------------------------------------------------------------------------------
8.
---------------------------------------------------------------------------------------------------------------------------
9.
---------------------------------------------------------------------------------------------------------------------------
10.
---------------------------------------------------------------------------------------------------------------------------
11. TOTAL INVESTMENTS $0 $0
---------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------
CASH
---------------------------------------------------------------------------------------------------------------
12. CURRENCY ON HAND $20,924
---------------------------------------------------------------------------------------------------------------
13. TOTAL CASH - END OF MONTH $20,924
---------------------------------------------------------------------------------------------------------------
===================================================================================================================================
----------------------------------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT
-----------------------------------------------------------------
CASE NAME: KITTY HAWK AIRCARGO, INC. ACCRUAL BASIS-6
-----------------------------------------------------------------
-----------------------------------------------------------------
CASE NUMBER: 400-42142-BJH-11 02/13/95, RWD, 2/96
-----------------------------------------------------------------
MONTH: JANUARY, 2001
-----------------------------------------------------------------
PAYMENTS TO INSIDERS AND PROFESSIONALS
-----------------------------------------------------------------
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 TO PROFESSIONALS. ALSO, FOR PAYMENTS TO
INSIDERS, IDENTIFY THE TYPE OF COMPENSATION PAID (e.g. SALARY, BONUS, COMMISSIONS, INSURANCE, HOUSING
ALLOWANCE, TRAVEL, CAR ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.
------------------------------------------------------------------------------------------------------
INSIDERS
------------------------------------------------------------------------------------------------------
TYPE OF AMOUNT TOTAL PAID
NAME PAYMENT PAID TO DATE
------------------------------------------------------------------------------------------------------
1. Xxxxx Xxxxxxx Salary $31,667 $154,582
------------------------------------------------------------------------------------------------------
2. Xxxxx Xxxxx Salary $26,667 $118,332
------------------------------------------------------------------------------------------------------
3. Xxxxx Xxxxxx Salary $0 $41,667
------------------------------------------------------------------------------------------------------
4.
------------------------------------------------------------------------------------------------------
5.
------------------------------------------------------------------------------------------------------
6. TOTAL PAYMENTS
TO INSIDERS $58,334 $314,581
------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------
PROFESSIONALS
-----------------------------------------------------------------------------------------------------------------------
DATE OF COURT TOTAL
ORDER AUTHORIZING AMOUNT AMOUNT TOTAL PAID INCURRED
NAME PAYMENT APPROVED PAID TO DATE & UNPAID *
-----------------------------------------------------------------------------------------------------------------------
1. SEE KITTY HAWK, INC. MOR - CASE# 400-42141-BJH-11
-----------------------------------------------------------------------------------------------------------------------
2.
-----------------------------------------------------------------------------------------------------------------------
3.
-----------------------------------------------------------------------------------------------------------------------
4.
-----------------------------------------------------------------------------------------------------------------------
5.
-----------------------------------------------------------------------------------------------------------------------
6. TOTAL PAYMENTS
TO PROFESSIONALS $0 $0 $0 $0
-----------------------------------------------------------------------------------------------------------------------
* INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED
-----------------------------------------------------------------------------------------------------
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE
PROTECTION PAYMENTS
-----------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------
SCHEDULED AMOUNTS
MONTHLY PAID TOTAL
PAYMENTS DURING UNPAID
NAME OF CREDITOR DUE MONTH POSTPETITION
---------------------------------------------------------------------------------------------------------------------------
1. PEGASUS $403,000 $403,000 $0
---------------------------------------------------------------------------------------------------------------------------
2. REPUBLIC $269,166 $269,166 $0
---------------------------------------------------------------------------------------------------------------------------
3. PROVIDENT $125,000 $125,000 $0
---------------------------------------------------------------------------------------------------------------------------
4. COAST BUSINESS $262,000 $262,000 $0
---------------------------------------------------------------------------------------------------------------------------
5. XXXXX FARGO $0 $0 $0
---------------------------------------------------------------------------------------------------------------------------
6. TOTAL $1,059,166 $1,059,166 $0
---------------------------------------------------------------------------------------------------------------------------
===================================================================================================================================
----------------------------------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT
-----------------------------------------------------------------
CASE NAME: KITTY HAWK AIRCARGO, INC. ACCRUAL BASIS-7
-----------------------------------------------------------------
-----------------------------------------------------------------
CASE NUMBER: 400-42142-BJH-11 02/13/95, RWD, 2/96
-----------------------------------------------------------------
MONTH: JANUARY, 2001
---------------------
--------------------------------------------------
QUESTIONNAIRE
---------------------------------------------------------------------------------------------------------------------------
YES NO
---------------------------------------------------------------------------------------------------------------------------
1. HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE X
THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD?
---------------------------------------------------------------------------------------------------------------------------
2. HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT X
OTHER THAN A DEBTOR IN POSSESSION ACCOUNT?
---------------------------------------------------------------------------------------------------------------------------
3. ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR X
LOANS) DUE FROM RELATED PARTIES?
---------------------------------------------------------------------------------------------------------------------------
4. HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES X
THIS REPORTING PERIOD?
---------------------------------------------------------------------------------------------------------------------------
5. HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE X
DEBTOR FROM ANY PARTY?
---------------------------------------------------------------------------------------------------------------------------
6. ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? X
---------------------------------------------------------------------------------------------------------------------------
7. ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES X
PAST DUE?
---------------------------------------------------------------------------------------------------------------------------
8. ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? X
---------------------------------------------------------------------------------------------------------------------------
9. ARE ANY OTHER POSTPETITION TAXES PAST DUE? X
---------------------------------------------------------------------------------------------------------------------------
10. ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS X
DELINQUENT?
---------------------------------------------------------------------------------------------------------------------------
11. HAVE ANY PREPETITION TAXES BEEN PAID DURING THE X
REPORTING PERIOD?
---------------------------------------------------------------------------------------------------------------------------
12. ARE ANY WAGE PAYMENTS PAST DUE? X
---------------------------------------------------------------------------------------------------------------------------
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES," PROVIDE A DETAILED
EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
---------------------------------------------------------------------------------------------------------------------------
a) Sale to Xxxxxxxxx Aviation of ATAZ STC closed in January, for $3,000,000 cash & $1,727,995 Net Gain
---------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------
INSURANCE
---------------------------------------------------------------------------------------------------------------------------
YES NO
---------------------------------------------------------------------------------------------------------------------------
1. ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER X
NECESSARY INSURANCE COVERAGES IN EFFECT?
---------------------------------------------------------------------------------------------------------------------------
2. ARE ALL PREMIUM PAYMENTS PAID CURRENT? X
---------------------------------------------------------------------------------------------------------------------------
3. PLEASE ITEMIZE POLICIES BELOW.
---------------------------------------------------------------------------------------------------------------------------
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO," OR IF ANY POLICIES
HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE
AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
---------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------
INSTALLMENT PAYMENTS
---------------------------------------------------------------------------------------------------------------------------
TYPE OF PAYMENT AMOUNT
POLICY CARRIER PERIOD COVERED & FREQUENCY
---------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------
SEE KITTY HAWK, INC. MOR - CASE # 400-42141-BJH-11
---------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
CASE NAME: KITTY HAWK AIRCARGO, INC.
CASE NUMBER: 400-42142-BJH-11
DETAILS OF OTHER ITEMS JANUARY, 2001
AMENDED 03/20/01
ACCRUAL BASIS-1
8. OTHER (ATTACH LIST) $ (41,337,323) Reported
----------------------------------
Intercompany Receivables (45,856,168)
Deposits - State Street Bank (TA Air) 3,534,695
Deposits - Landing & Parking 57,000
Deposits - Ventura Aerospace 65,125
Deposits - Rent 113,643
Deposits - Misc 642,125
Intangible - Xxxxxx 106,257
----------------------------------
(41,337,323) Detail
----------------------------------
- Difference
14. OTHER (ATTACH LIST) $ 2,320,000 Reported
----------------------------------
Deposits - Aircraft Leases 2,320,000
Intangible - ATAZ STC 0
----------------------------------
2,320,000 Detail
----------------------------------
- Difference
22. OTHER (ATTACH LIST) $ 10,396,948 Reported
----------------------------------
Accrued A/P 4,157,438
Deposit held for ATAZ sale 0
Accrued Salaries & Wages 1,882,284
Accrued 401K & Misc PR Deductions 302,701
Accrued PR Taxes (FICA) 135,020
Accrued Fuel Exp 8,863,474
Accrued Interest 294,016
Accrued Maintenance Reserves 446,433
Accrued Fed Income Tax (Post) (5,684,418)
----------------------------------
10,396,948 Detail
----------------------------------
- Difference
27. OTHER (ATTACH LIST) $ 20,040,527 Reported
----------------------------------
Accrued A/P 5,344,093
Accrued Maintenance Reserves 10,267,512
Accrued Fed Income Tax (Pre) 3,332,363
Accrued Taxes - Other 444
FINOVA Equip Accrued 351,615
Pegasus Lease Incentive 744,500
----------------------------------
20,040,527 Detail
----------------------------------
- Difference
CASE NAME: KITTY HAWK AIRCARGO, INC.
CASE NUMBER: 400-42142-BJH-11
DETAILS OF OTHER ITEMS JANUARY, 2001
AMENDED 03/20/01
ACCRUAL BASIS-2
13. OTHER (ATTACH LIST) $12,863,148 Reported
----------------------------------
Aircraft Expense 2,235,133
Maintenance 3,863,246
Fuel 361,883
Ops Wages 3,285,736
Ops Wages-Grnd 409,260
Ground Handling 975,138
Other Operating Exp 1,732,752
----------------------------------
12,863,148 Detail
----------------------------------
- Difference
16 NON OPERATING INCOME (ATT. LIST) ($1,968) Reported
----------------------------------
Non-Op Income (1,968) Detail
----------------------------------
- Difference
17 NON OPERATING EXPENSE (ATT. LIST) $0 Reported
----------------------------------
Non-Op Expense - Detail
----------------------------------
- Difference
21 OTHER (ATTACH LIST) ($6,750,819) Reported
----------------------------------
(Gain)/Loss on Sale of Assets (1,727,665)
Credit for Allocation of A/C Costs to KH I/C (5,023,154)
----------------------------------
(6,750,819) Detail
----------------------------------
- Difference
ACCRUAL BASIS-3
8. OTHER (ATTACH LIST) (47,561,667) Reported
----------------------------------
Transfer to Inc - all money sweeps (47,561,667) Detail
to KH Inc. Case #400-42141
----------------------------------
- Difference
----------------------------------
===================================================================================================================================
-----------------------------------------------------------------
CASE NAME: KITTY HAWK AIRCARGO, INC. FOOTNOTES SUPPLEMENT
-----------------------------------------------------------------
-----------------------------------------------------------------
CASE NUMBER: 400-42142-BJH-11 ACCRUAL BASIS
-----------------------------------------------------------------
MONTH: JANUARY, 2001
----------------------------------
AMENDED 03/20/01
------------------------------------------------------------------------------------------------------------------------------
ACCRUAL BASIS FORM NUMBER LINE NUMBER FOOTNOTE / EXPLANATION
------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------
3 8 All cash received into the subsidiary cash account is swept
------------------------------------------------------------------------------------------------------------------------------
each night to Kitty Hawk, Inc. Master Account
------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------
3 31 All disbursements (either by wire transfer or check), including payroll, are
------------------------------------------------------------------------------------------------------------------------------
disbursed out of the Kitty Hawk, Inc. controlled disbursement
------------------------------------------------------------------------------------------------------------------------------
account.
------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------
4 6 All assessments of uncollectible accounts receivable are done
------------------------------------------------------------------------------------------------------------------------------
at Kitty Hawk, Inc. All reserves are recorded at Inc. and pushed
------------------------------------------------------------------------------------------------------------------------------
down to Inc.'s subsidiaries as deemed necessary.
------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------
6 Insiders Payments to insiders include a portion of the Court approved retention
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payments in the month of January.
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7 3 All insurance policies are carried in the name of Kitty Hawk, Inc. and its
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subsidiaries. Therefore, they are listed here accordingly.
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1, 2, + Other Detail Various Amended for further information discovered in preparation for annual audit
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subsequent to original filing date of February 20, 2001.
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3 3 The current general ledger system is not able to provide a detail of customer
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cash receipts segregated by prepetition and post petition accounts receivable.
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