ex10_17.htm


    
      

    

    Exhibit 10.17

     

    
      	
              In re

            	 	
              CROCHET & BOREL SERVICES,
    INC.

            	 
      	
              Case No.

            	 	
              08-10290
      (BLS)

            
	 
      	 	
              Debtor

            	 
      	
              Reporting
      Period:

            	 	
              June 1 through
      June 30

            


    

    


    BALANCE
SHEET

     

    The
Balance Sheet is to be completed on an accrual basis only. Pre-petition
liabilities must be classified separately from post-petition
obligations.

     

    
      
        
          	
                  ASSETS

                	 	
                  BOOK
      VALUE AT END OF CURRENT REPORTING MONTH

                	 	 	
                  BOOK
      VALUE AT END OF PRIOR REPORTING MONTH

                	 	 	
                  BOOK
      VALUE ON PETITION DATE OR SCHEDULED

                	 
	
                  CURRENT
      ASSETS

                	 	 	 	 	 	 
	
                  Unrestricted
      Cash and Equivalents

                	 	$	119,572	 	 	$	119,692	 	 	 	 
	
                  Restricted
      Cash and Cash Equivalents (see
      continuation sheet)

                	 	 	-	 	 	 	-	 	 	 	 
	
                  Accounts
      Receivable (Net)

                	 	 	16,184,275	 	 	 	16,184,275	 	 	 	 
	
                  Notes
      Receivable

                	 	 	-	 	 	 	-	 	 	 	 
	
                  Inventories

                	 	 	-	 	 	 	-	 	 	 	 
	
                  Prepaid
      Expenses

                	 	 	-	 	 	 	-	 	 	 	 
	
                  Professional
      Retainers

                	 	 	-	 	 	 	-	 	 	 	 
	
                  Other
      Current Assets: undeposited funds

                	 	 	-	 	 	 	150	 	 	 	 
	
                  TOTAL
      CURRENT ASSETS

                	 	 	16,303,847	 	 	 	16,304,117	 	 	 	 
	
                  PROPERTY
      & EQUIPMENT

                	 	 	 	 	 	 	 	 	 	 	 
	
                  Real
      Property and Improvements

                	 	 	-	 	 	 	-	 	 	 	 
	
                  Machinery
      and Equipment

                	 	 	1,605,276	 	 	 	1,605,276	 	 	 	 
	
                  Furniture,
      Fixtures and Office Equipment

                	 	 	318,574	 	 	 	318,574	 	 	 	 
	
                  Leasehold
      Improvements

                	 	 	-	 	 	 	-	 	 	 	 
	
                  Vehicles

                	 	 	504,774	 	 	 	504,774	 	 	 	 
	
                  Less:
      Accumulated Depreciation

                	 	 	(1,053,898	)	 	 	(1,014,157	)	 	 	 
	
                  TOTAL
      PROPERTY & EQUIPMENT

                	 	 	1,374,726	 	 	 	1,414,467	 	 	 	 
	
                  OTHER
      ASSETS

                	 	 	 	 	 	 	 	 	 	 	 
	
                  Amounts
      due from Insiders*

                	 	 	 	 	 	 	 	 	 	 	-	 
	
                  Other Assets
      (attach
      schedule)

                	 	 	12,039,828	 	 	 	12,039,828	 	 	 	-	 
	
                  TOTAL
      OTHER ASSETS

                	 	 	12,039,828	 	 	 	12,039,828	 	 	 	-	 
	
                  TOTAL
      ASSETS

                	 	 	29,718,401	 	 	 	29,758,412	 	 	 	-	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	
                  LIABILITIES
      AND OWNER EQUITY

                	 	
                  BOOK
      VALUE AT END OF CURRENT REPORTING MONTH

                	 	 	
                  BOOK
      VALUE AT END OF PRIOR REPORTING MONTH

                	 	 	
                  BOOK
      VALUE ON PETITION DATE

                	 
	
                  LIABILITIES
      NOT SUBJECT TO COMPROMISE (Postpetition)

                	 	 	 	 	 	 	 	 	 	 	 	 
	
                  Accounts
      Payable

                	 	 	3,041	 	 	 	3,770	 	 	 	 	 
	
                  Taxes Payable
      (refer to FORM
      MOR-4)

                	 	 	 	 	 	 	-	 	 	 	 	 
	
                  Wages
      Payable

                	 	 	 	 	 	 	-	 	 	 	 	 
	
                  Notes
      Payable

                	 	 	 	 	 	 	-	 	 	 	 	 
	
                  Rent
      / Leases - Building/Equipment

                	 	 	 	 	 	 	-	 	 	 	 	 
	
                  Secured
      Debt / Adequate Protection Payments

                	 	 	354,869	 	 	 	344,762	 	 	 	 	 
	
                  Professional
      Fees

                	 	 	 	 	 	 	-	 	 	 	 	 
	
                  Amounts
      Due to Insiders*

                	 	 	 	 	 	 	 	 	 	 	 	 
	
                  Other
      Post-petition Liabilities (attach
      schedule)

                	 	 	-	 	 	 	-	 	 	 	 	 
	
                  TOTAL
      POST-PETITION LIABILITIES

                	 	 	357,910	 	 	 	348,532	 	 	 	 	 
	
                  LIABILITIES
      SUBJECT TO COMPROMISE (Pre-Petition)

                	 	 	 	 	 	 	 	 	 	 	 	 
	
                  Secured
      Debt

                	 	 	-	 	 	 	-	 	 	 	 	 
	
                  Priority
      Debt

                	 	 	-	 	 	 	-	 	 	 	 	 
	
                  Unsecured
      Debt

                	 	 	25,608,561	 	 	 	25,607,833	 	 	 	 	 
	
                  TOTAL
      PRE-PETITION LIABILITIES 

                	 	 	25,608,561	 	 	 	25,607,833	 	 	 	 	 
	
                  TOTAL
      LIABILITIES

                	 	 	25,966,471	 	 	 	25,956,365	 	 	 	 	 
	
                  OWNERS'
      EQUITY

                	 	 	 	 	 	 	 	 	 	 	 	 
	
                  INVESTMENT
      BY PARENT

                	 	 	140,727,295	 	 	 	140,727,295	 	 	 	-	 
	
                  Additional
      Paid-In Capital

                	 	 	55,452,296	 	 	 	55,452,296	 	 	 	-	 
	
                  Partners'
      Capital Account

                	 	 	 	 	 	 	-	 	 	 	-	 
	
                  Owner's
      Equity Account

                	 	 	 	 	 	 	-	 	 	 	-	 
	
                  Retained
      Earnings - Pre-Petition

                	 	 	(192,201,190	)	 	 	(192,201,190	)	 	 	-	 
	
                  Retained
      Earnings - Post-petition

                	 	 	(226,471	)	 	 	(176,354	)	 	
                  ­

                	 
	
                  Adjustments
      to Owner Equity (attach
      schedule)

                	 	 	 	 	 	 	-	 	 	 	-	 
	
                  Post-petition
      Contributions (attach
      schedule)

                	 	 	 	 	 	 	-	 	 	 	-	 
	
                  NET
      OWNERS’ EQUITY 

                	 	 	3,751,930	 	 	 	3,802,047	 	 	 	-	 
	
                  TOTAL
      LIABILITIES AND OWNERS' EQUITY

                	 	$	29,718,401	 	 	$	29,758,412	 	 	$	-	 


        

      

    

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

     

    
      
         


      

      
         


        
          

        

      

      
         


      

    

     

    
      
        	
                In re

              	 	
                CROCHET & BOREL SERVICES,
    INC.

              	 
      	
                Case No.

              	 	
                08-10290
      (BLS)

              
	 
      	 	
                Debtor

              	 
      	
                Reporting
      Period:

              	 	
                June 1 through
      June 30

              


      

       

    

    
      	
              ASSETS

            	 	
              BOOK
      VALUE AT END OF CURRENT REPORTING MONTH

            	 	 	
              BOOK
      VALUE AT END OF PRIOR REPORTING MONTH

            	 	 	
              BOOK
      VALUE ON PETITION DATE

            	 
	
              Other Current
      Assets

            	 
	 
      	 	 	 	 	 	-	 	 	 	-	 
	 
      	 	 	 	 	 	-	 	 	 	-	 
	 
      	 	 	 	 	 	-	 	 	 	-	 
	 
      	 	 	 	 	 	-	 	 	 	-	 
	 
      	 	 	 	 	 	-	 	 	 	-	 
	
              Other
      Assets

            	 
	
              11800
      · N/R - Charys Holding

            	 	$	11,419,828	 	 	$	11,419,828	 	 	
              undetermined

            	 
	
              11810
      · N/R - Viasys

            	 	 	290,000	 	 	 	290,000	 	 	
              undetermined

            	 
	
              11820
      · N/R - CCI

            	 	 	200,000	 	 	 	200,000	 	 	
              undetermined

            	 
	
              11830
      · N/R - Ayin

            	 	 	130,000	 	 	 	130,000	 	 	
              undetermined

            	 
	
              LIABILITIES
      AND OWNER EQUITY

            	 	
              BOOK
      VALUE AT END OF CURRENT REPORTING MONTH

            	 	 	 	 	 	 	
              BOOK
      VALUE ON PETITION DATE

            	 
	
              Other
      Post-petition Liabilities-

            	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	$	-	 	 	 	 	 
	
              Adjustments to Owner’s
      Equity

            	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	
              Post-Petition Contributions

            	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 


    

    
 

    Restricted
Cash: Cash that is restricted for a specific use and not available to fund
operations. 

    Typically,
restricted cash is segregated into a separate account, such as an escrow
account.