Document:

ex10_16.htm

    
      

    

    Exhibit
10.16

     

    
      
        	
                In re

              	 	
                CROCHET & BOREL SERVICES,
    INC.

              	 
      	
                Case No.

              	 	
                08-10290
      (BLS)

              
	 
      	 	
                Debtor

              	 
      	
                Reporting
      Period:

              	 	
                June 1 through
      June 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

              	 	$	-	 	 	$	10	 
	
                Less:
      Returns and Allowances

              	 	 	-	 	 	 	-	 
	
                Net
      Revenue

              	 	 	-	 	 	 	10	 
	
                COST
      OF GOODS SOLD 

              	 	 	 	 	 	 	 	 
	
                Beginning
      Inventory

              	 	 	 	 	 	 	-	 
	
                Add:
      Purchases

              	 	 	-	 	 	 	-	 
	
                Add:
      Cost of Labor

              	 	 	 	 	 	 	281	 
	
                Add:
      Other Costs (attach
      schedule)

              	 	 	 	 	 	 	401	 
	
                Less:
      Ending Inventory

              	 	 	 	 	 	 	-	 
	
                Cost
      of Goods Sold

              	 	 	 	 	 	 	682	 
	
                Gross
      Profit

              	 	 	-	 	 	 	692	 
	
                OPERATING
      EXPENSES

              	 	 	 	 	 	 	 	 
	
                Advertising

              	 	 	-	 	 	 	-	 
	
                Auto
      and Truck Expense

              	 	 	-	 	 	 	-	 
	
                Bad
      Debts

              	 	 	-	 	 	 	-	 
	
                Contributions

              	 	 	-	 	 	 	-	 
	
                Employee
      Benefits Programs

              	 	 	-	 	 	 	-	 
	
                Officer/Insider
      Compensation*

              	 	 	-	 	 	 	-	 
	
                Insurance

              	 	 	-	 	 	 	-	 
	
                Management
      Fees/Bonuses

              	 	 	-	 	 	 	-	 
	
                Office
      Expense

              	 	 	-	 	 	 	-	 
	
                Pension
      & Profit-Sharing Plans

              	 	 	-	 	 	 	-	 
	
                Repairs
      and Maintenance

              	 	 	-	 	 	 	-	 
	
                Rent
      and Lease Expense

              	 	 	-	 	 	 	-	 
	
                Salaries/Commissions/Fees

              	 	 	-	 	 	 	-	 
	
                Supplies

              	 	 	-	 	 	 	-	 
	
                Taxes
      - Payroll

              	 	 	-	 	 	 	-	 
	
                Taxes
      - Real Estate

              	 	 	-	 	 	 	-	 
	
                Taxes
      - Other (refund on franchise taxes)

              	 	 	 	 	 	 	76,906	 
	
                Travel
      and Entertainment

              	 	 	 	 	 	 	-	 
	
                Utilities

              	 	 	 	 	 	
                ­

              	 
	
                Other (attach
      schedule)

              	 	 	(269	)	 	 	(3,843	)
	
                Total
      Operating Expenses Before Depreciation

              	 	 	(269	)	 	 	73,063	 
	
                Depreciation/Depletion/Amortization

              	 	 	(39,741	)	 	 	(178,836	)
	
                Net
      Profit (Loss) Before Other Income & Expenses

              	 	 	(40,010	)	 	 	(105,081	)
	
                OTHER
      INCOME AND EXPENSES 

              	 	 	 	 	 	 	 	 
	
                Other Income
      (attach
      schedule)

              	 	 	-	 	 	 	-	 
	
                Interest
      Expense

              	 	 	(10,107	)	 	 	(121,065	)
	
                Other
      Expense (attach
      schedule)

              	 	 	 	 	 	
                ­

              	 
	
                Net
      Profit (Loss) Before Reorganization Items

              	 	 	(50,117	)	 	 	(226,146	)

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          
            	
                    In re

                  	 	
                    CROCHET & BOREL SERVICES,
    INC.

                  	 
      	
                    Case No.

                  	 	
                    08-10290
      (BLS)

                  
	 
      	 	
                    Debtor

                  	 
      	
                    Reporting
      Period:

                  	 	
                    June 1 through
      June 30

                  

          

           

        

      

      
        	
                REORGANIZATION
      ITEMS

              	 	 	 	 	 	 
	
                Professional
      Fees

              	 	 	-	 	 	 	-	 
	
                U.
      S. Trustee Quarterly Fees

              	 	 	 	 	 	 	(325	)
	
                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

              	 	 	 	 	 	 	(325	)
	
                Income
      Taxes

              	 	 	-	 	 	 	-	 
	
                Net
      Profit (Loss)

              	 	$	(50,117	)	 	$	(226,471	)

      

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

       

      BREAKDOWN
OF “OTHER” CATEGORY

       

      OTHER
COSTS

      
        	
                63000-63900
      - DC - Construction & Other$

              	 	 	 	 	 	 	401	 
	 
      	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 

      

      OTHER
OPERATIONAL EXPENSES

      
        	
                80200
      · Bank Charges

              	 	$	269	 	 	$	1,143	 
	
                80450
      · Contract Labor

              	 	 	 	 	 	 	920.0	 
	
                80700
      · Dues & Subscriptions

              	 	 	 	 	 	 	127.0	 
	
                82000
      · Legal & Professional

              	 	 	 	 	 	 	1,620.0	 
	
                83200
      - Penalties

              	 	 	 	 	 	 	35.0	 
	
                82400
      - Office Expenses

              	 	 	 	 	 	 	(2	)

      

      OTHER
INCOME

      
        	 	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 

      

      OTHER
EXPENSES

      
        	 	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 

      

      OTHER
REORGANIZATION EXPENSES

      
        	 	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 

      

      

      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.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.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00145-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00145-of-00352.parquet"}]]