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OFFICE OF THE UNITED STATES TRUSTEE
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IN RE: ) | DEBTOR IN POSSESSION OPERATING REPORT
) | -------------------------------------
PREMIER CONCEPTS, INC., ) |
) | REPORT NUMBER 2 Page 1 of 3
) | FOR THE PERIOD FROM: 11/01/2003
DEBTOR ) | TO: 11/30/2003
) -------------------------------------------------------------------
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CHAPTER 11 CASE NO. LA 03-36445-BR )
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1. Profit and Loss Statement:
A. Related to Business Operations:
Gross Sales
----------------------
Less Sales Returns and Discounts
----------------------
Net Sales 291,943
----------------------
Less: Cost of Goods Sold
Beginning Inventory at Cost
----------------------
Add: Purchases
----------------------
Less: Ending Inventory at Cost
----------------------
Cost of Goods Sold 92,080
----------------------
Gross Profit 199,863
--------------------
Other Operating Revenue (Specify)
Less: Operating Expenses
Officer Compensation
----------------------
Salaries & Wages - Other Employees
----------------------
Total Salaries & Wages 173,518
----------------------
Employee Benefits
----------------------
Payroll Taxes
----------------------
Real Estate Taxes
----------------------
Federal and State Income Taxes
----------------------
Total Taxes 9,460
----------------------
Rent and Lease Exp. (Real and Personal Property) 150,333
----------------------
Interest Expense (Mortgage, Loan, etc.) 5,140
----------------------
Insurance 4,475
----------------------
Automobile Expense
----------------------
Utilities (Gas, Electric, Water, Telephone, etc.) 18,486
----------------------
Depreciation and Amortization 20,615
----------------------
Repairs and Maintenance 143
----------------------
Advertising 3,574
----------------------
Supplies, Office Expenses, Photocopies, etc. 37,183
----------------------
Bad Debts
----------------------
Miscellaneous Operating Expenses (Specify)*
----------------------
Total Operating Expenses 422,927
--------------------
Net Gain/(Loss) from Business Operations (223,064)
--------------------
B. Not Related to Business Operations
Income:
Interest Income - interest on Bond
----------------------
Other Non-Operating Revenues (Specify)
Gain on Investment 64,650
----------------------
Gross Proceeds on Sale of Assets
----------------------
Less: Original Cost of Assets plus Expenses
of Sale
----------------------
Net Gain/(Loss) on Sale of Assets -
----------------------
Total Non-Operating Income 64,650
----------------------
Expenses Not Related to Business Operations:
Legal and Professional Fees 86,830
----------------------
Other Non-Operating Expenses, Loss on Investment
----------------------
Total Non-Operating Expenses 86,830
----------------------
NET INCOME /(LOSS) FOR PERIOD (245,244)
====================
NOTE: DEBTOR KEEPS ITS BOOKS ON A FOUR-WEEK MONTHLY CYCLE TO ACCOMMODATE ITS RETAIL BUSINESS. CLOSING DATE FOR THIS REPORT IS
NOVEMBER 23, 2003.
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Revised April 1989 OPERATING REPORT UST-2
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DEBTOR IN POSSESSION OPERATING REPORT NO. 2
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Page 2 of 3
2. Aging of Accounts Payable and Receivable (exclude pre-petition debt from accounts payable):
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Accounts Payable Accounts Receivable
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Current Under 30 days $ 272,447 $ --
Overdue 31 - 60 days $ 87,026 $ --
Overdue 61 - 90 days $ -- $ --
Overdue 91 - 120 days $ -- $ --
Overdue 121 + days $ -- $ --
Total $ 359,473 $ --
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3. Statement of Status of Payments to Secured Creditors and Lessors:
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Post-Petition
Frequency of Payments Not Made
Payments per Amount of -------------------------------
Creditor/Lessor Lease/Contract Each Payment Next Payment Due Number Amount
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SEE ATTACHED LIST OF PAYMENTS TO LESSORS
Totals for Lessors Monthly $ 167,238 Dec-03 33 $ 197,289
Fleet Precious Metals, Inc. Monthly $ 1,500 Dec-03
Stephlaur Monthly $ 370 Dec-03
BankOne Monthly $ 700 Dec-03
(Payments for period 10/10-11/10/03 were made on 11/14/03)
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4. Tax Liability:
Gross Payroll Expense For Period $ 173,518
Gross Sales for Period Subject to Sales Tax $ 291,943
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Post Petition Taxes
Date Paid Amount Paid * Still Owing
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Federal Payroll and Withholding Taxes $0.00 $ 15,601
State Payroll and Withholding Taxes $0.00 $ 1,998
State Sales and Use Tax $0.00 $ 45,000
Real Property Taxes $0.00
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* Attach photocopies of depository receipts from taxing authority or financial institution to
verify that such deposits or payments have been made.
5. Insurance Coverage
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Carrier/ Amount of Policy Premium Paid
Agent Coverage Exp. Date Thru Date
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Worker's Compensation Venbrook/Hartford 12/10/2003 12/10/2003
Liability Venbrook/Hartford 1,000,000 10/10/2004 10/10/2004
Fire and Extended Coverage Venbrook/Hartford 300,000 12/07/2003 12/07/2003
Property Venbrook/Hartford 12/07/2003 12/07/2003
Theft Venbrook/Hartford 12/07/2003 12/07/2003
Life (Beneficiary:________________)
Vehicle Venbrook/Hartford 1,000,000 12/07/2003 12/07/2003
Other
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DEBTOR IN POSSESSION OPERATING REPORT NO. 2
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Page 3 of 3
6. Questions:
A. Has the Trustee provided to any officers, directors, shareholders, or other principals
compensation without the approval of the Office of the United States Trustee?
_____ : Yes Explain: _______________________________________________________
X : No
B. Has the Trustee, subsequent to the filing of the petition made any payments on its
pre-petition unsecured debt, except as have been authorized by the Court?
_____ : Yes Explain: _______________________________________________________
X : No
7. Statement of Unpaid Professional Fees (Post-Petition Only):
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Type Post-Petition
Name of Professional Professional Unpaid Total
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Xxxxxxxx, Diamant & Xxxxxxxxx Debtor's attorneys 49,299
Archetype Group * Management Fees 40,000
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*Archetype Group is in the process of being employed as Debtor's business consultants.
8. Narrative Report of Significant Events And Events Out Of The Ordinary Course Of Business:
None noted during reporting period.
9. Quarterly Fees: (This Fee must be paid to the United States Trustee every calendar quarter)
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Quarterly
Quarterly Disbursements Quarterly Quarterly
Period Ending for Quarter Fee Date Paid Amount Paid Check No. Fee Still Owing
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4th Quarter 2003
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I, Xxxxx X. Xxxxxxxx, President of Premier Concepts, Inc., declare under penalty of perjury that the information contained in the
above Debtor in Possession Operating Report is true and complete to the best of my knowledge.
Dated: ____________ Signed: ______________________________________________
PREMIER CONCEPTS, INC.
CH. 11 CASE NO. LA 03-36445-BR
OPERATING REPORT - ATTACHMENT NO. 2
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POST PETITION
PAYMENTS NOT MADE
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STORE AMT OF NEXT TOTAL
NO. STORE LANDLORD MONTHLY PMT PAYMENT DUE NUMBER AMOUNT
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7 THE RIO- Elegent Pretenders Rio Hotel & Cansio, 7,934 12/10/2003 2 13,565
0000 X. Xxxxxxxx Xx, SP 15A Inc.
Xxx Xxxxx, XX 00000
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8 UNION STATION- Impostors Xxxxx Lang LaSalle 4,595 12/10/2003 2 8,352
00 Xxxxxxxxxxxxx Xxx. N.E., Mgmt - Union Station
SP 236
Xxxxxxxxxx, XX 00000
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9 VALLEY FAIR- Impostors Westfield - Valley Fair 9,219 12/10/2003 2 15,762
0000 Xxxxxxx Xxxxx Xxxx.
XX 0000
Xxxxx Xxxxx, XX 00000
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00 XXXXXX XXXXX- Impostors Macerich Carmel L.P. 6,969 12/10/2003 2 11,914
Ocean Avenue between Mission and
Xxxxxxxx
Xxxxxx-By-The-Sea, CA
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12 HARBOR PLACE- Impostors Xxxxx/Harborplace 6,504 12/10/2003 2 11,595
201 X. Xxxxx, SP 16 Ltd. Partnership
Xxxxxxxxx, XX 00000
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14 PALM DESERT- Impostors Westfield-WEA Palm 5,785 12/10/2003 2 9,968
00-000 Xxxxxxx 000, SP 126 Desert LLC
Xxxx Xxxxxx, XX 00000
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17 Stoneridge- Impostors Taubman/ 8,927 12/10/2003 2 15,261
0000 Xxxxxxxxxx Xxxx Xxxxxxxxxx Xxxxxxxxxx
Xxxxxxxxxx, XX 00000 LLC
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00 XXXXX XXXXXX- Impostors Union Square 48,849 12/10/2003
000 Xxxxx Xxxxxx Building/Xxxxx & Company
Xxx Xxxxxxxxx, XX 00000
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24 WHITE FLINT- Impostors Xxxxxx Corporation- 7,555 12/10/2003 2 12,917
00000 Xxxxxxxxx Xxxx, SP 1-4.11 White Flint
Xxxxxxxxxx, XX 00000
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25 TOWSON TOWN CENTER- Impostors Xxxxx Company 8,510 12/10/2003 2 14,674
825 Xxxxxxx Valley Rd., SP 3260 Xxxxx Property
Xxxxxx, XX 00000 Management, Inc.
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PREMIER CONCEPTS, INC.
CH. 11 CASE NO. LA 03-36445-BR
OPERATING REPORT - ATTACHMENT NO. 2
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POST PETITION
PAYMENTS NOT MADE
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STORE AMT OF NEXT TOTAL
NO. STORE LANDLORD MONTHLY PMT PAYMENT DUE NUMBER AMOUNT
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29 PARK XXXXXXX- Impostors Xxxxx Company 8,188 12/10/2003 2 14,150
0000 Xxxx Xxxxxxx Xxxx Xx., Xxxxx Property
SP 2125 Management, Inc.
Xxxxxxxxx, XX 00000
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30 THE ALADDIN- Joli Joli Trizec-Xxxx 9,352 12/10/2003 1 9,352
0000 Xxx Xxxxx Xxxx. Xxxxx
Xxx. 000
Xxx Xxxxx, XX 00000
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31 FASHION SQUARE- Impostors Westcor 5,923 12/10/2003 2 10,267
0000 X. Xxxxxxxxx Xxxx
X0-00
Xxxxxxxxxx, XX 00000
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35 THE BORGATA- Impostors Westcor 4,423 12/10/2003 2 7,570
0000 Xxxxx Xxxxxxxxxx Xx., XXX Xxxxxxx Holding, LLC
SP 705
Xxxxxxxxxx, XX 00000
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38 COASTLAND CENTER- Impostors General 4,541 12/10/2003 2 7,764
0000 X. Xxxxxxx Xxxxx Xxxxxx/Xxxxxxxxx
Xxxxxx, XX 00000 Center, LP
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40 MENLO PARK- Impostors Simon Property Group, 8,151 12/10/2003 2 13,982
000 Xxxxx Xxxx, XX 0000 XX
Xxxxxx, XX 00000
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41 SAWGRASS XXXXX- Impostors The Mills 5,583 12/10/2003 2 9,544
0000 Xxxxxxxx Xxxxx Xxx., #0000
Xxxxxxx, XX 00000
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43 THE FALLS - Impostors Taubman 6,230 12/10/2003 2 10,652
0000 XX 000xx Xxxxxx, Xxxxx 000X Xxxxx/Xxxxxxxx Xxxxxx
Xxxxx, XX 00000 Assoc.
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TOTAL 167,238 197,289
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OFFICE OF THE UNITED STATES TRUSTEE
PAGE 1
CENTRAL DISTRICT OF CALIFORNIA
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IN RE: ) | DEBTOR IN POSSESSION INTERIM STATEMENT
) | --------------------------------------
PREMIER CONCEPTS, INC., ) |
) | STATEMENT NO.: 2 Page 1 of 3
) | FOR THE PERIOD FROM: 11/01/2003
DEBTOR ) | TO: 11/31/2003
) -----------------------------------------------------------------------
) -----------------------------
--------------------------------------------------------) DIRECT DEPOSIT PRE-PETITION
--------------------------------------------------------) -----------------------------------------------------------------------
CHAPTER 11 CASE NO. LA 03-36445-BR ) OPERATIONS PAYROLL TAX MERCHANT OPERATIONS
--------------------------------------------------------) ACCOUNT ACCOUNT ACCOUNT ACCOUNT ACCOUNT
--------------------------------------------------------) -----------------------------------------------------------------------
CASH ACTIVITY ANALYSIS -----------------------------------------------------------------------
A. Total Receipts Per All Prior Interim Statements 60,000.00 70,100.00 100.00 100.00 354,181.22
B. Less: Total Disbursements Per All Prior
Interim Statements 9,652.28 38,701.05 - - 231,140.35
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C. Beginning Balance 50,347.72 31,398.95 100.00 100.00 123,040.87
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D. Receipts During Current Period
Per Attached Schedule 366,700.59 144,500.00 - 229,476.57 57,211.77
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E. Balance Available 417,048.31 175,898.95 100.00 229,576.57 180,252.64
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F. Less: Disbursements During Period
Per Attached Schedule 384,660.89 138,573.21 10.00 229,012.48 108,807.56
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G. Ending Balance 32,387.42 37,325.74 90.00 564.09 71,445.08
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H. ACCOUNT INFORMATION
(1). General (Operations) Account
(a) Depository Name and Location Xxxxx Fargo Bank, Austin, Texas
(b) Account Number 5393677439
(2). Payroll Account
(a) Depository Name and Location Xxxxx Fargo Bank, Austin, Texas
(b) Account Number 5393677454
(3). Tax Account
(a) Depository Name and Location Xxxxx Fargo Bank, Austin, Texas
(b) Account Number 5393677462
(4). Direct Deposit Merchant Account
(a) Depository Name and Location Xxxxx Fargo Bank, Austin, Texas
(b) Account Number 5393677447
(5). Pre-Petition General Account - for Deposit only
(a) Depository Name and Location Texas Bank, Grapevine, Texas
(b) Account Number 630001812
I. Other Monies On Hand:
I, Xxxxx X. Xxxxxxxx, President of Premier Concepts, Inc., declare under penalty of perjury that the information contained in the
above Debtor in Possession Interim Statement is true and complete to the best of my knowlege:
Dated: Signed:
------------------------------------------------------------- ------------------------------------------------------------------
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Revised June 1987 INTERIM STATEMENT UST-2
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CASE NAME: PREMIER CONCEPTS, INC. PAGE 2
CASE NUMBER: LA 03-36445-BR
STATEMENT NO.: 2
RECEIPTS FOR THE PERIOD FROM: 11/01/2003
TO: 11/31/2003
-----------------
ACCT: OPERATIONS AMOUNT
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Funding 100,000.00
Transfer from WFB Merchant 229,000.00
Misc. check deposit 600.59
Sweep from Retail Store account 2,700.00
Transfer from TX bank - Sweep from retail 34,400.00
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TOTAL 366,700.59
=================
CASE NAME: PREMIER CONCEPTS, INC. PAGE 3
CASE NUMBER: LA 03-36445-BR
STATEMENT NO.: 2
RECEIPTS FOR THE PERIOD FROM: 11/01/2003
TO: 11/31/2003
-----------------
ACCT: PAYROLL AMOUNT
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Transfer from WFB Checking 124,500.00
Transfer from Texas Bank 20,000.00
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TOTAL 144,500.00
=================
CASE NAME: PREMIER CONCEPTS, INC. PAGE 4
CASE NUMBER: LA 03-36445-BR
STATEMENT NO.: 2
RECEIPTS FOR THE PERIOD FROM: 11/01/2003
TO: 11/31/2003
-----------------
ACCT: TAX AMOUNT
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-----------------
TOTAL -
=================
CASE NAME: PREMIER CONCEPTS, INC. PAGE 5
CASE NUMBER: LA 03-36445-BR
STATEMENT NO.: 2
RECEIPTS FOR THE PERIOD FROM: 11/01/2003
TO: 11/31/2003
-----------------
ACCT: DIRECT DEPOSIT MERCHANT ACCOUNT AMOUNT
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Merchant settlement 229,476.57
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TOTAL 229,476.57
=================
CASE NAME: PREMIER CONCEPTS, INC. PAGE 6
CASE NUMBER: LA 03-36445-BR
STATEMENT NO.: 2
RECEIPTS FOR THE PERIOD FROM: 11/01/2003
TO: 11/31/2003
-----------------
ACCT: TEXAS BANK OPERATIONS AMOUNT
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Transfer from Texas Bank Merchant 10,985.53
Transfer from Retail Stores (Sweep) 46,062.06
Misc Deposit 164.18
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TOTAL 57,211.77
=================
CASE NAME: PREMIER CONCEPTS, INC.
CASE NUMBER: LA 03-36445-BR
STATEMENT NO.: 2
RECEIPTS FOR THE PERIOD FROM: 11/01/2003
TO: 11/31/2003
ACCT: OPERATIONS
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PAYEE DESCRIPTION AMOUNT CHECK NO. DATE
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Transfer to WFB Payroll 124,500.00
Bank Fees 133.90
Payment - Nov 03 260,026.99
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TOTAL 384,660.89
================
CASE NAME: PREMIER CONCEPTS, INC.
CASE NUMBER: LA 03-36445-BR
STATEMENT NO.: 2
RECEIPTS FOR THE PERIOD FROM: 11/01/2003
TO: 11/31/2003
ACCT: PAYROLL
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PAYEE DESCRIPTION AMOUNT CHECK NO. DATE
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Payroll payment 138,562.31
Bank fees 10.90
----------------
TOTAL 138,573.21
================
CASE NAME: PREMIER CONCEPTS, INC.
CASE NUMBER: LA 03-36445-BR
STATEMENT NO.: 2
RECEIPTS FOR THE PERIOD FROM: 11/01/2003
TO: 11/31/2003
ACCT: TAX
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PAYEE DESCRIPTION AMOUNT CHECK NO. DATE
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Bank Fees 10.00
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TOTAL 10.00
================
CASE NAME: PREMIER CONCEPTS, INC.
CASE NUMBER: LA 03-36445-BR
STATEMENT NO.: 2
RECEIPTS FOR THE PERIOD FROM: 11/01/2003
TO: 11/31/2003
ACCT: DIRECT DEPOSIT MERCHANT ACCOUNT
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PAYEE DESCRIPTION AMOUNT CHECK NO. DATE
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Transfer to WFB Checking 229,000.00
Bank Fees 12.48
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TOTAL 229,012.48
================
CASE NAME: PREMIER CONCEPTS, INC.
CASE NUMBER: LA 03-36445-BR
STATEMENT NO.: 2
RECEIPTS FOR THE PERIOD FROM: 11/01/2003
TO: 11/31/2003
ACCT: TEXAS BANK OPERATIONS
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PAYEE DESCRIPTION AMOUNT CHECK NO. DATE
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Transfer to WFB Checking 34,400.00
Transfer to WFB Payroll 20,000.00
Transfer to Texas Bank Payroll 4,598.07
Union Square Rent payment 48,849.30
401K Funding 373.61
Transfer to close 2 Texas Bank accounts 463.14
Bank Fees 123.44
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TOTAL 108,807.56
================
