ex10_5.htm


    
      

    

    
    

    Exhibit
10.5

     

    
      	
              
                In re

              

            	 	
              
                CHARYS
      HOLDING COMPANY, INC

              

            	 	
              
                Case
      No.

              

            	 	
              
                08-10289
      (BLS)

              

            
	 
      	 	
              
                Debtor

              

            	 	
              
                Reporting Period:

              

            	 	
              
                June
      1 through 30

              

            


    

    
      


       

      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	 	 	 	13,170,579	 
	
              
                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	 	 	 	13,170,579	 
	
              
                OPERATING
      EXPENSES

              

            	 	 	 	 	 	 	 	 
	
              
                Advertising

              

            	 	 	 	 	 	 	 	 
	
              
                Auto
      and Truck Expense

              

            	 	 	 	 	 	 	 	 
	
              
                Bad
      Debts

              

            	 	 	 	 	 	 	 	 
	
              
                Contributions

              

            	 	 	 	 	 	 	 	 
	
              
                Employee
      Benefits Programs

              

            	 	 	6,179	 	 	 	17,024	 
	
              
                Officer/Insider
      Compensation*

              

            	 	 	80,166	 	 	 	468,884	 
	
              
                Insurance

              

            	 	 	2,133	 	 	 	37,516	 
	
              
                Management
      Fees/Bonuses

              

            	 	 	 	 	 	 	 	 
	
              
                Office
      Expense

              

            	 	 	 	 	 	 	 	 
	
              
                Outside
      and other services - no reorganization items

              

            	 	 	685	 	 	 	228,982	 
	
              
                Repairs
      and Maintenance

              

            	 	 	 	 	 	 	 	 
	
              
                Rent
      and Lease Expense

              

            	 	 	18,336	 	 	 	77,953	 
	
              
                Salaries/Commissions/Fees

              

            	 	 	37,169	 	 	 	176,836	 
	
              
                Supplies

              

            	 	 	924	 	 	 	21,226	 
	
              
                Taxes
      - Payroll

              

            	 	 	3,820	 	 	 	28,408	 
	
              
                Taxes
      - Real Estate

              

            	 	 	 	 	 	 	 	 
	
              
                Taxes
      - Other

              

            	 	 	 	 	 	 	(28	)
	
              
                Travel
      and Entertainment

              

            	 	 	14,500	 	 	 	64,478	 
	
              
                Utilities

              

            	 	 	3,858	 	 	 	21,611	 
	
              
                Other
      (attach
      schedule)

              

            	 	 	4,413	 	 	 	236,234	 
	
              
                Total
      Operating Expenses Before Depreciation

              

            	 	 	172,183	 	 	 	1,379,124	 
	
              
                Depreciation/Depletion/Amortization

              

            	 	 	2,823	 	 	 	13,022	 
	
              
                Net
      Profit (Loss) Before Other Income & Expenses

              

            	 	 	1,124,994	 	 	 	11,778,433	 
	
              
                OTHER
      INCOME AND EXPENSES

              

            	 	 	 	 	 	 	 	 
	
              
                Other
      Income(Loss) -
      Subsidiaries

              

            	 	 	1,091,653	 	 	 	(1,521,193	)
	
              
                Interest
      Expense

              

            	 	 	(67,615	)	 	 	(366,239	)
	
              
                Other
      Expense (attach
      schedule)

              

            	 	 	 	 	 	 	 	 
	
              
                Net
      Profit (Loss) Before Reorganization Items

              

            	 	 	2,149,032	 	 	 	9,891,001	 


    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              
                In re

              

            	 	
              
                CHARYS
      HOLDING COMPANY, INC

              

            	 	
              
                Case No.

              

            	 	
              
                08-10289
      (BLS)

              

            
	 
      	 	
              
                Debtor

              

            	 	
              
                Reporting Period:

              

            	 	
              
                June
      1 through 30

              

            


    

     

    
      	REORGANIZATION
      ITEMS	 	 	 	 	 	 	 	 
	
              
                Professional
      Fees

              

            	 	 	858,586	 	 	 	3,791,268	 
	
              
                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)

              

            	 	$	1,290,446	 	 	$	6,094,858	 


    

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

    

    
       

      BREAKDOWN
OF “OTHER” CATEGORY

    

    
       

      OTHER
COSTS

    

    
      	 
      	 	
              
                None

              

            	 	 	
              
                None

              

            	 
	 
      	 	 	 	 	 	 
	
              
                OTHER
      OPERATIONAL EXPENSES

              

            	 	 	 	 	 	 
	
              
                Filing
      fees

              

            	 	 	4,188	 	 	
              
                None

              

            	 
	
              
                Misc

              

            	 	 	225	 	 	 	 
	
              
                OTHER
      INCOME

              

            	 	 	 	 	 	 	 
	 
      	 	
              
                None

              

            	 	 	
              
                None

              

            	 
	 
      	 	 	 	 	 	 	 
	
              
                OTHER
      EXPENSES

              

            	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 
	
              
                OTHER
      REORGANIZATION EXPENSES

              

            	 	 	 	 	 	 	 
	
              
                See
      MOR-6 "Bankruptcy Professionals"

              

            	 	 	858,586	 	 	 	3,791,268	 


    

    
       

      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.