ex10_5.htm


    
      

    

    Exhibit
10.5

     

    
      
        	
                In
      re

              	
                CHARYS HOLDING COMPANY, INC

              	 
      	
                Case
      No.     

              	
                08-10289 (BLS)

              	 
	 
      	
                Debtor

              	 
      	
                Reporting
      Period:     

              	
                May 1 through 31

              	 


      

      
        


      

      
        STATEMENT OF OPERATIONS
(Income Statement)

      

      
        


      

      
        The
Statement of Operations is to be prepared on an accrual basis. The accrual basis
of accounting recognizes revenue when it is realized and expenses when they are
incurred, regardless of when cash is actually received or
paid.

      

      


      
        	
                
                  REVENUES

                

              	 	
                
                  MONTH

                

              	 	 	
                
                  CUMULATIVE
      -FILING TO DATE

                

              	 
	
                
                  Gross
      Revenues

                

              	 	 	 	 	 	 
	
                
                  Less:
      Returns and Allowances

                

              	 	 	 	 	 	 
	
                
                  Management
      Fees billable to Subsidiaries

                

              	 	 	1,300,000	 	 	 	11,870,579	 
	
                
                  COST
      OF GOODS SOLD

                

              	 	 	 	 	 	 	 	 
	
                
                  Beginning
      Inventory

                

              	 	 	 	 	 	 	 	 
	
                
                  Add:
      Purchases

                

              	 	 	 	 	 	 	 	 
	
                
                  Add:
      Cost of Labor

                

              	 	 	 	 	 	 	 	 
	
                
                  Add:
      Other Costs (attach schedule)

                

              	 	 	 	 	 	 	 	 
	
                
                  Less:
      Ending Inventory

                

              	 	 	 	 	 	 	 	 
	
                
                  Cost
      of Goods Sold

                

              	 	 	 	 	 	 	 	 
	
                
                  Gross
      Profit

                

              	 	 	1,300,000	 	 	 	11,870,579	 
	
                
                  OPERATING
      EXPENSES

                

              	 	 	 	 	 	 	 	 
	
                
                  Advertising

                

              	 	 	 	 	 	 	 	 
	
                
                  Auto
      and Truck Expense

                

              	 	 	 	 	 	 	 	 
	
                
                  Bad
      Debts

                

              	 	 	 	 	 	 	 	 
	
                
                  Contributions

                

              	 	 	 	 	 	 	 	 
	
                
                  Employee
      Benefits Programs

                

              	 	 	4,490	 	 	 	10,845	 
	
                
                  Officer/Insider
      Compensation*

                

              	 	 	90,308	 	 	 	388,718	 
	
                
                  Insurance

                

              	 	 	2,852	 	 	 	35,383	 
	
                
                  Management
      Fees/Bonuses

                

              	 	 	 	 	 	 	 	 
	
                
                  Office
      Expense

                

              	 	 	 	 	 	 	 	 
	
                
                  Outside
      and other services - no reorganization items

                

              	 	 	90,982	 	 	 	228,297	 
	
                
                  Repairs
      and Maintenance

                

              	 	 	 	 	 	 	 	 
	
                
                  Rent
      and Lease Expense

                

              	 	 	13,185	 	 	 	59,617	 
	
                
                  Salaries/Commissions/Fees

                

              	 	 	43,418	 	 	 	139,667	 
	
                
                  Supplies

                

              	 	 	3,972	 	 	 	20,302	 
	
                
                  Taxes
      - Payroll

                

              	 	 	4,343	 	 	 	24,588	 
	
                
                  Taxes
      - Real Estate

                

              	 	 	 	 	 	 	 	 
	
                
                  Taxes
      - Other

                

              	 	 	 	 	 	 	(28	)
	
                
                  Travel
      and Entertainment

                

              	 	 	17,062	 	 	 	49,978	 
	
                
                  Utilities

                

              	 	 	5,989	 	 	 	17,753	 
	
                
                  Other
      (attach schedule)

                

              	 	 	42,086	 	 	 	231,821	 
	
                
                  Total
      Operating Expenses Before Depreciation

                

              	 	 	318,687	 	 	 	1,206,941	 
	
                
                  Depreciation/Depletion/Amortization

                

              	 	 	2,823	 	 	 	10,199	 
	
                
                  Net
      Profit (Loss) Before Other Income & Expenses

                

              	 	 	978,490	 	 	 	10,653,439	 
	
                
                  OTHER
      INCOME AND EXPENSES

                

              	 	 	 	 	 	 	 	 
	
                
                  Other
      Income(Loss) - Subsidiaries

                

              	 	 	(210,898	)	 	 	(2,612,846	)
	
                
                  Interest
      Expense

                

              	 	 	(69,870	)	 	 	(298,624	)
	
                
                  Other
      Expense (attach schedule)

                

              	 	 	 	 	 	 	 	 
	
                
                  Net
      Profit (Loss) Before Reorganization Items

                

              	 	 	697,722	 	 	 	7,741,969	 


      

      
        

          
            
               


            

            
               


              
                

              

            

            
               


            

          

        

      

      
         

      

      
        	
                In
      re

              	
                CHARYS HOLDING COMPANY, INC

              	 
      	
                Case
      No.     

              	
                08-10289 (BLS)

              	 
	 
      	
                Debtor

              	 
      	
                Reporting
      Period:     

              	
                May 1 through 31

              	 


      

      


      
        	
                
                  REORGANIZATION
      ITEMS

                

              	 	 	 	 	 	 
	
                
                  Professional
      Fees

                

              	 	 	481,801	 	 	 	2,932,682	 
	
                
                  U.
      S. Trustee Quarterly Fees

                

              	 	 	 	 	 	 	4,875	 
	
                
                  Interest
      Earned on Accumulated Cash from Chapter 11 (see continuation
      sheet)

                

              	 	 	 	 	 	 	 	 
	
                
                  Gain
      (Loss) from Sale of Equipment

                

              	 	 	 	 	 	 	 	 
	
                
                  Other
      Reorganization Expenses (attach schedule)

                

              	 	 	 	 	 	 	 	 
	
                
                  Total
      Reorganization Expenses

                

              	 	 	 	 	 	 	 	 
	
                
                  Income
      Taxes

                

              	 	 	 	 	 	 	 	 
	
                
                  Net
      Profit (Loss)

                

              	 	$	215,921	 	 	$	4,804,412	 


      

      
        *"Insider"
is defined in 11 U.S.C. Section 101(31).

      

      
        


      

      
        BREAKDOWN
OF “OTHER” CATEGORY

      

      


      OTHER
COSTS

      
        	 
      	 	
                
                  None

                

              	 	 	
                
                  None

                

              	 
	 
      	 	 	 	 	 	 
	
                
                  OTHER
      OPERATIONAL EXPENSES

                

              	 	 	 	 	 	 
	 
      	 	
                
                  None

                

              	 	 	
                
                  None

                

              	 
	 
      	 	 	 	 	 	 
	
                
                  OTHER
      INCOME

                

              	 	 	 	 	 	 
	 
      	 	
                
                  None

                

              	 	 	
                
                  None

                

              	 
	 
      	 	 	 	 	 	 
	
                
                  OTHER
      EXPENSES

                

              	 	 	 	 	 	 
	
                
                  Other
      professional fees - non bankruptcy professionals

                

              	 	 	42,085	 	 	 	231,821	 
	 
      	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	
                
                  OTHER
      REORGANIZATION EXPENSES

                

              	 	 	 	 	 	 	 	 
	
                
                  See
      MOR-6 "Bankruptcy Professionals"

                

              	 	 	481,801	 	 	 	2,932,682	 
	 
      	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 


      

      
        


      

      
        Reorganization
Items - Interest Earned on Accumulated Cash from Chapter
11:


      

      
        Interest
earned on cash accumulated during the chapter 11 case, which would not have been
earned but for the bankruptcy proceeding, should be reported as a reorganization
item.