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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 1 Page 1 of 3
) | FOR THE PERIOD FROM: 10/10/2003
DEBTOR ) | TO: 10/31/2003
) -------------------------------------------------------------------
------------------------------------------------------------)
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 165,730
----------------------
Less: Cost of Goods Sold
Beginning Inventory at Cost
----------------------
Add: Purchases
----------------------
Less: Ending Inventory at Cost
----------------------
Cost of Goods Sold 50,548
----------------------
Gross Profit 115,182
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Other Operating Revenue (Specify)
Less: Operating Expenses
Officer Compensation
----------------------
Salaries & Wages - Other Employees
----------------------
Total Salaries & Wages 99,623
----------------------
Employee Benefits
----------------------
Payroll Taxes
----------------------
Real Estate Taxes
----------------------
Federal and State Income Taxes
----------------------
Total Taxes 7,182
----------------------
Rent and Lease Exp. (Real and Personal Property) 89,333
----------------------
Interest Expense (Mortgage, Loan, etc.)
----------------------
Insurance 8,334
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Automobile Expense
----------------------
Utilities (Gas, Electric, Water, Telephone, etc.) 6,845
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Depreciation and Amortization 12,517
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Repairs and Maintenance 925
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Advertising 1,153
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Supplies, Office Expenses, Photocopies, etc. 20,998
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Bad Debts
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Miscellaneous Operating Expenses (Specify)*
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Total Operating Expenses 246,910
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Net Gain/(Loss) from Business Operations (131,728)
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B. Not Related to Business Operations
Income:
Interest Income - interest on Bond
----------------------
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 (33,488)
----------------------
Total Non-Operating Income (33,488)
----------------------
Expenses Not Related to Business Operations:
Legal and Professional Fees 44,402
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Other Non-Operating Expenses, Loss on Investment 30,357
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Total Non-Operating Expenses 74,759
----------------------
NET INCOME /(LOSS) FOR PERIOD (239,975)
====================
NOTE: DEBTOR KEEPS ITS BOOKS ON A FOUR-WEEK MONTHLY CYCLE TO ACCOMMODATE ITS RETAIL BUSINESS. CLOSING DATE FOR THIS REPORT IS
OCTOBER 26, 2003.
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Revised April 1989 OPERATING REPORT UST-1
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DEBTOR IN POSSESSION OPERATING REPORT NO. 1
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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 $ 209,653 $ --
Overdue 31 - 60 days $ -- $ --
Overdue 61 - 90 days $ -- $ --
Overdue 91 - 120 days $ -- $ --
Overdue 121 + days $ -- $ --
Total $ 209,653 $ --
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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 $ 169,948 Nov-03 17 $ 160,596
Fleet Precious Metals, Inc. Monthly $ 1,500 Nov-03 1 $ 1,500
Stephlaur Monthly $ 370 Nov-03 1 $ 370
BankOne Monthly $ 700 Nov-03 1 $ 700
(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 $ 99,623
Gross Sales for Period Subject to Sales Tax $ 165,730
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Post Petition Taxes
Date Paid Amount Paid * Still Owing
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Federal Payroll and Withholding Taxes $0.00 $ 15,841
State Payroll and Withholding Taxes $0.00 $ 2,047
State Sales and Use Tax $0.00 $ 11,565
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. 1
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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. 1
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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 & Casino, 7,934 11/10/2003 1 7,934
0000 X. Xxxxxxxx Xx, SP 15A Inc.
Xxx Xxxxx, XX 00000
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8 UNION STATION- Impostors Xxxxx Lang LaSalle 5,355 11/10/2003 1 5,355
00 Xxxxxxxxxxxxx Xxx. N.E., Mgmt - Union Station
SP 236
Xxxxxxxxxx, XX 00000
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9 VALLEY FAIR- Impostors Westfield - Valley Fair 9,619 11/10/2003 1 9,619
0000 Xxxxxxx Xxxxx Xxxx.
XX 0000
Xxxxx Xxxxx, XX 00000
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00 XXXXXX XXXXX- Impostors Macerich Carmel L.P. 6,969 11/10/2003 1 6,969
Ocean Avenue between Mission and
Xxxxxxxx
Xxxxxx-By-The-Sea, CA
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12 HARBOR PLACE- Impostors Xxxxx/Harborplace 6,504 11/10/2003 1 6,504
201 X. Xxxxx, SP 16 Ltd. Partnership
Xxxxxxxxx, XX 00000
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14 PALM DESERT- Impostors Westfielda- WEA Palm 6,185 11/10/2003 1 6,185
00-000 Xxxxxxx 000, SP 126 Desert LLC
Xxxx Xxxxxx, XX 00000
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17 STONERIDGE- Impostors Taubman/ 9,633 11/10/2003 1 9,633
0000 Xxxxxxxxxx Xxxx Xxxxxxxxxx Xxxxxxxxxx
Xxxxxxxxxx, XX 00000 LLC
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00 XXXXX XXXXXX- Impostors Union Square 48,849 11/10/2003 1 48,849
000 Xxxxx Xxxxxx Xxxxxxxx/Xxxxx &
Xxx Xxxxxxxxx, XX 00000 Company
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24 WHITE FLINT- Impostors Xxxxxx Corporation- 6,863 11/10/2003 1 6,863
00000 Xxxxxxxxx Xxxx, SP 1-4.11 White Flint
Xxxxxxxxxx, XX 00000
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25 TOWSON TOWN CENTER- Impostors Xxxxx Company 8,780 11/10/2003 1 8,780
000 Xxxxxxx Xxxxxx Xx., XX 0000 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. 1
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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 8,606 11/10/2003 1 8,606
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 11/10/2003
0000 Xxx Xxxxx Xxxx. Xxxxx
Xxx. 000
Xxx Xxxxx, XX 00000
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31 FASHION SQUARE- Impostors Westcor 5,923 11/10/2003 1 5,923
0000 X. Xxxxxxxxx Xxxx
X0-00
Xxxxxxxxxx, XX 00000
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35 THE BORGATA- Impostors Westcor 4,644 11/10/2003 1 4,644
0000 Xxxxx Xxxxxxxxxx Xx., XXX Borgata Holding,
SP 705 LLC
Xxxxxxxxxx, XX 00000
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38 COASTLAND CENTER- Impostors General 4,541 11/10/2003 1 4,541
0000 X. Xxxxxxx Xxxxx Xxxxxx/Xxxxxxxxx
Xxxxxx, XX 00000 Center, LP
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40 MENLO PARK- Impostors Simon Property Group, 8,217 11/10/2003 1 8,217
000 Xxxxx Xxxx, XX 0000 XX
Xxxxxx, XX 00000
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41 SAWGRASS XXXXX- Impostors The Mills 6,039 11/10/2003 1 6,039
0000 Xxxxxxxx Xxxxx Xxx., #0000
Xxxxxxx, XX 00000
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43 THE FALLS - Impostors Taubman 5,935 11/10/2003 1 5,935
0000 XX 000xx Xxxxxx, Xxxxx 000X Xxxxx/Xxxxxxxx Xxxxxx
Xxxxx, XX 00000 Assoc.
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TOTAL 169,948 160,596
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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.: 1
) FOR THE PERIOD FROM: 10/10/2003
) TO: 10/31/2003
DEBTOR )
) -----------------------------
--------------------------------------------------------) 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 - - - - -
B. Less: Total Disbursements Per All Prior
Interim Statements - - - - -
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C. Beginning Balance - - - - -
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D. Receipts During Current Period
Per Attached Schedule 60,000.00 70,100.00 100.00 100.00 354,181.22
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E. Balance Available 60,000.00 70,100.00 100.00 100.00 354,181.22
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F. Less: Disbursements During Period
Per Attached Schedule 9,652.28 38,701.00 - - 231,140.35
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G. Ending Balance 50,347.72 31,399.00 100.00 100.00 123,040.87
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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-1
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CASE NAME: PREMIER CONCEPTS, INC. PAGE 2
CASE NUMBER: LA 03-36445-BR
STATEMENT NO.: 1
RECEIPTS FOR THE PERIOD FROM: 10/10/2003
TO: 10/31/2003
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ACCT: OPERATIONS AMOUNT
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Opening Deposit 60,000.00
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TOTAL 60,000.00
=================
CASE NAME: PREMIER CONCEPTS, INC. PAGE 3
CASE NUMBER: LA 03-36445-BR
STATEMENT NO.: 1
RECEIPTS FOR THE PERIOD FROM: 10/10/2003
TO: 10/31/2003
-----------------
ACCT: PAYROLL AMOUNT
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Opening Deposit 100.00
Transfer from Texas Bank 50,000.00
Transfer from Texas Bank 10,000.00
Transfer from Texas Bank 10,000.00
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TOTAL 70,100.00
=================
CASE NAME: PREMIER CONCEPTS, INC. PAGE 4
CASE NUMBER: LA 03-36445-BR
STATEMENT NO.: 1
RECEIPTS FOR THE PERIOD FROM: 10/10/2003
TO: 10/31/2003
-----------------
ACCT: TAX AMOUNT
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Opening Deposit 100.00
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TOTAL 100.00
=================
CASE NAME: PREMIER CONCEPTS, INC. PAGE 5
CASE NUMBER: LA 03-36445-BR
STATEMENT NO.: 1
RECEIPTS FOR THE PERIOD FROM: 10/10/2003
TO: 10/31/2003
-----------------
ACCT: DIRECT DEPOSIT MERCHANT ACCOUNT AMOUNT
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Opening Deposit 100.00
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TOTAL 100.00
=================
CASE NAME: PREMIER CONCEPTS, INC. PAGE 6
CASE NUMBER: LA 03-36445-BR
STATEMENT NO.: 1
RECEIPTS FOR THE PERIOD FROM: 10/10/2003
TO: 10/31/2003
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ACCT: TEXAS BANK OPERATIONS AMOUNT
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Beginnging Balance 100,368.25
Misc deposit 417.70
Credit Card Merchant Services Settlement 210,269.66
Transfer from Retail Stores (Sweep) 43,125.61
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TOTAL 354,181.22
=================
CASE NAME: PREMIER CONCEPTS, INC. PAGE 7
CASE NUMBER: LA 03-36445-BR
STATEMENT NO.: 1
RECEIPTS FOR THE PERIOD FROM: 10/10/2003
TO: 10/31/2003
ACCT: OPERATIONS
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PAYEE DESCRIPTION AMOUNT CHECK NO. DATE
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Transfer to WFB Payroll 100.00 Wire 10/24/2003
Transfer to WFB Merchant 100.00 Wire 10/24/2003
Transfer to WFB Tax 100.00 Wire 10/24/2003
Rent payment - Aladdin 9,352.28 Temp. Ck 10/27/2003
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TOTAL 9,652.28
================
CASE NAME: PREMIER CONCEPTS, INC. PAGE 8
CASE NUMBER: LA 03-36445-BR
STATEMENT NO.: 1
RECEIPTS FOR THE PERIOD FROM: 10/10/2003
TO: 10/31/2003
ACCT: PAYROLL
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PAYEE DESCRIPTION AMOUNT CHECK NO. DATE
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CBS Payroll Payroll 38,701.00 10/31/2003
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TOTAL 38,701.00
================
CASE NAME: PREMIER CONCEPTS, INC. PAGE 9
CASE NUMBER: LA 03-36445-BR
STATEMENT NO.: 1
RECEIPTS FOR THE PERIOD FROM: 10/10/2003
TO: 10/31/2003
ACCT: TAX
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PAYEE DESCRIPTION AMOUNT CHECK NO. DATE
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----------------
TOTAL --
================
CASE NAME: PREMIER CONCEPTS, INC. PAGE 10
CASE NUMBER: LA 03-36445-BR
STATEMENT NO.: 1
RECEIPTS FOR THE PERIOD FROM: 10/10/2003
TO: 10/31/2003
ACCT: DIRECT DEPOSIT MERCHANT ACCOUNT
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PAYEE DESCRIPTION AMOUNT CHECK NO. DATE
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----------------
TOTAL --
================
CASE NAME: PREMIER CONCEPTS, INC. PAGE 11
CASE NUMBER: LA 03-36445-BR
STATEMENT NO.: 1
RECEIPTS FOR THE PERIOD FROM: 10/10/2003
TO: 10/31/2003
ACCT: TEXAS BANK OPERATION
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PAYEE DESCRIPTION AMOUNT CHECK NO. DATE
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Transfer to WFB Operations 60,000.00 Wire 10/23/2003
Transfer to WFB Payroll 50,000.00 Wire 10/30/2003
Transfer to WFB Payroll 20,000.00 Wire 10/31/2003
Payroll funding 78,438.61 Wire 10/10-10/31
401K funding 425.02 Wire 10/14/2003
Xxxxxxxx Diamant & Xxxxxxxxx 20,830.00 Wire 10/10/2003
Xxxxxx Leasing Leasing 256.36 Wire 10/31/2003
Xxxxx Xxxxxx Reimbursement 50.00 63215 10/23/2003
Xxxx Xxxxxxxxx Reimbursement 86.00 63209 10/14/2003
Century Plaza Garage Parking 24.00 63212 10/14/2003
Xxxxx Xxxxxx Reimbursement 69.90 63217 10/23/2003
Xxxxx Xxxx Reimbursement 27.05 63218 10/20/2003
Xxxxx Xxxxx Reimbursement 189.38 63219 10/17/2003
Xxxxxxxxx Xxxxxxxxxx Reimbursement 688.22 63220 10/30/2003
Merchant Services charges 16.00 Wire 10/31/2003
Bank Fees 39.81 10/31/2003
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TOTAL 231,140.35
================
