EXHIBIT 5.5
------------------------------------------------------------------------------------------------------------------------------------
OFFICE OF THE UNITED STATES TRUSTEE
------------------------------------------------------------------------------------------------------------------------------------
IN RE: ) DEBTOR IN POSSESSION OPERATING REPORT
)
Bachmann Companies, Inc. ) REPORT NUMBER 4 Page 1 of 3
) FOR THE PERIOD FROM: 1-Mar-00
DEBTOR ) TO: 31-Mar-00
)----------------------------------------------------------------------
------------------------------------------------------------
CHAPTER 11 CASE NO. SA99-22778-JR )
------------------------------------------------------------
1. Profit and Loss Statement
A. Related to Business Operations:
Gross Sales
---------------
Less Sales Returns and Discounts
---------------
Net Sales
---------------
Less: Cost of Goods Sold
Beginning Inventory at Cost ---------------
Add: Purchases ---------------
Less: Ending Inventory at Cost ---------------
Cost of Goods Sold
---------------
Gross Profit
---------------
Other Operating Revenue (Specify)
---------------
Less: Operating Expenses THE DEBTOR IS A NON-OPERATING COMPANY
Officer Compensation
---------------
Salaries & Wages - Other Employees
---------------
Total Salaries & Wages
---------------
Employee Benefits
---------------
Payroll Taxes
---------------
Real Estate Taxes
---------------
Federal and State Income Taxes
---------------
Total Taxes
Rent and Lease Exp. (Real and Personal Property)
---------------
Interest Expense (Mortgage, Loan, etc.)
---------------
Insurance
---------------
Automobile Expense
---------------
Utilities (Gas, Electric, Water, Telephone, etc.)
---------------
Depreciation and Amortization
---------------
Repairs and Maintenance
---------------
Advertising
---------------
Supplies, Office Expenses, Photocopies, etc.
---------------
Bad Debts
---------------
Miscellaneous Operating Expenses (Specify)
---------------
Total Operating Expenses
---------------
Net Gain/(Loss) from Business Operations
---------------
B. Not Related to Business Operations
---------------
Income:
Interest Income
---------------
Other Non-Operating Revenues (Specify)
---------------
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
---------------
Expenses Not Related to Business Operations:
Legal and Professional Fees
---------------
Other Non-Operating Revenues (Specify)
---------------
Total Non-Operating Expenses
---------------
NET INCOME /(LOSS) FOR PERIOD
===============
-----------------------------------------------------------------------------------------------------------------------------------
Revised April 1989 OPERATING REPORT UST-4
-----------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
DEBTOR IN POSSESSION OPERATING REPORT NO. 4
--------------------------------------------------------------------------------
Page 2 of 3
2. Aging of Accounts Payable and Receivable (exclude pre-petition debt from
accounts payable):
-------------------------------------
Accounts Payable Accounts Receivable
-------------------------------------
Current Under 30 days $0 $0
Overdue 31 - 60 days $0 $0
Overdue 61 - 90 days $0 $0
Overdue 91 - 120 days $0 $0
Overdue 121 + days $0 $0
Total $0 $0
-------------------------------------
3. Statement of Status of Payments to Secured Creditors and Lessors:
-------------------------------------------------------------------------------------------------
Frequency of Post-Petition
Payments per Amount of Payments Not Made
Creditor/Lessor Lease/Contract Each Payment Next Payment Due Number Amount
-------------------------------------------------------------------------------------------------
Wexford Management, LLC Payments have been suspended due to the Chapter 11 filing
-------------------------------------------------------------------------------------------------
4. Tax Liability:
Gross Payroll Expense For Period $0
Gross Sales for Period Subject to Sales Tax $0
-------------------------------------------------
Post Petition Taxes
Date Paid Amount Paid * Still Owing
-------------------------------------------------
Federal Payroll and Withholding Taxes $0
State Payroll and Withholding Taxes $0
State Sales and Use Tax $0
Real Property Taxes
-------------------------------------------------
* Attach photocopies of depository receipts from taxing authority or financial
institution to verify that such deposits or payments have been made.
5. Insurance Coverage
-------------------------------------------------------------------------------------
Carrier/ Amount of Policy Premium Paid
Agent Coverage Exp. Date Thru Date
-------------------------------------------------------------------------------------
Worker's Compensation
Liability
Fire and Extended Coverage See attached for Insurance Coverage
Property
Theft
Life (Beneficiary:________________)
Vehicle
Other
------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
DEBTOR IN POSSESSION OPERATING REPORT NO. 4
--------------------------------------------------------------------------------
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):
------------------------------------------------------------
Type Post-Petition
Name of Professional Professional Unpaid Total
------------------------------------------------------------
See the Thermatrix Inc. report for detail
------------------------------------------------------------
8. Narrative Report of Significant Events And Events Out Of The Ordinary Course
Of Business:
9. Quarterly Fees: (This Fee must be paid to the United States Trustee every
calendar quarter)
--------------------------------------------------------------------------------------------------------------------
Quarterly
Quarterly Disbursements Quarterly Quarterly
Period Ending for Quarter Fee Date Paid Amount Paid Check No. Fee Still Owing
--------------------------------------------------------------------------------------------------------------------
3/31/00 $0.00 $250.00 $250.00
--------------------------------------------------------------------------------------------------------------------
I, Xxxxxx Xxxxxx, President, declare under penalty of perjury that the
information contained in the above Debtor in Possession Operating Report, which
is subject to further review and verification, is true and complete to the best
of my knowledge.
Dated: 4/17/00 Signed: /s/ Xxxxxx X. Xxxxxx
------- --------------------
