Document:

ex10_3.htm

    
      

    

    UNITED
STATES BANKRUPTCY COURT

    _________________DISTRICT
OF DELAWARE

    

    
      	In
      re	
              CHARYS HOLDING COMPANY, INC

            	 
      	
              Case
      No.

            	 	
              08-10289 (BLS)

            
	 	 
      	 
      	
              Reporting
      Period:

            	 	
              2/15/08
      through 3/31/08

            
	 	 
      	 
      	
              Federal
      Tax I.D. #

            	 	
              54-2152284

            

    

    

    CORPORATE MONTHLY
OPERATING REPORT

    

    File
with the Court and submit a copy to the United States Trustee within 20 days
after the end of the month and submit a copy of the report to any official
committee appointed in the case.

    (Reports
for Rochester and Buffalo Divisions of Western District of New York are due 15
days after the end of the month, as are the reports for Southern District of New
York.)

    

    
      	
              REQUIRED
      DOCUMENTS

            	
              Form
      No.

            	
              Document
      Attached

            	
              Explanation
      Attached

            
	
              Schedule
      of Cash Receipts and Disbursements

            	
              MOR-1

            	 
      	 
      
	
              Bank
      Reconciliation (or copies of debtor's bank
reconciliations)

            	
              MOR-I
      (CON'T)

            	 
      	 
      
	
              Copies
      of bank statements

            	 
      	 
      	 
      
	
              Cash
      disbursements journals

            	 
      	 
      	 
      
	
              Statement
      of Operations

            	
              MOR-2

            	 
      	 
      
	
              Balance
      Sheet

            	
              MOR-3

            	 
      	 
      
	
              Status
      of Post-petition Taxes

            	
              MOR-4

            	 
      	 
      
	
              Copies
      ofIRS Form 6123 or payment receipt

            	 
      	 
      	 
      
	
              Copies
      of tax returns filed during reporting period

            	 
      	 
      	 
      
	
              Summary
      of Unpaid Post-petition Debts

            	
              MOR-4

            	 
      	 
      
	
              Listing
      of Aged Accounts Payable

            	 
      	 
      	 
      
	
              Accounts
      Receivable Reconciliation and Aging

            	
              MOR-5

            	 
      	 
      
	
              Taxes
      Reconciliation and Aging

            	
              MOR-5

            	 
      	 
      
	
              Payments
      to Insiders and Professional

            	
              MOR-6

            	 
      	 
      
	
              Post
      Petition Status of Secured Notes, Leases Payable

            	
              MOR-6

            	 
      	 
      
	
              Debtor
      Questionnaire

            	
              MOR-7

            	 
      	 
      

    

     

    I declare
under penalty of perjury (28 U.S.C. Section 1746) that this report and the
attached documents
are true
and correct to the best of my knowledge and belief.

    

    
      	
              Signature of Debtor

            	 
      	
              Date

            
	 
      	 
      	 
      
	
              Signature: /s/ Raymond J. Smith

            	 
      	
              Date May 1,
      2008

            
	 
      	 
      	 
      
	
              Raymond J. Smith, Chief
      Financial Officer

            	 
      	
              Date May 1,
      2008

            

    

     

    *Authorized
individual must be an officer, director or shareholder if debtor is a
corporation; a partner if debtor is a partnership; a manager or member if debtor
is a limited liability company.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	
              In
      re

            	
              CHARYS HOLDING COMPANY, INC

            	 
      	
              Case
      No.

            	 	
              08-10289 (BLS)

            
	 
      	
              Debtor

            	 
      	
              Reporting
      Period:

            	 	
              2/15/08
      through 3/31/08

            

    

    

    

    SCHEDULE
OF CASH RECEIPTS AND DISBURSEMENTS

    

    Amounts
reported should be from the debtor’s books and not the bank statement. The
beginning cash should be the ending cash from the prior month or, if this is the
first report, the amount should be the balance on the date the petition was
filed. The amounts reported in the "CURRENT MONTH ACTUAL” column must equal the
sum of the four bank account columns. Attach copies of the bank statements and
the cash disbursements journal. The total disbursements listed in the
disbursements journal must equal the total disbursements reported on this page.
A bank reconciliation must be attached for each account. [See MOR-1
(CON’T)]

    

    
      	 
      	 	
              BANK
      ACCOUNTS

            	 
	
              ACCOUNT
      TYPE

            	 	
              OPERATING

            	 	 	
              PAYROLL

            	 	 	
              TAX

            	 	 	
              OTHER

            	 	 	
              CURRENT
      MONTH ACTUAL (TOTAL OF ALL ACCOUNTS)

            	 
	
              ACCOUNT
      NUMBER (LAST 4 DIGITS)

            	 	
              2061

            	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              CASH
      BEGINNING OF MONTH

            	 	$	347	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	347	 
	
              RECEIPTS

            	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              CASH
      SALES

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              ACCOUNTS
      RECEIVABLE - PREPETITION

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              ACCOUNTS
      RECEIVABLE - POSTPETITION

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              LOANS
      AND ADVANCES

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              SALE
      OF ASSETS

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              OTHER
      (Attach
      List)

            	 	 	6,276	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	6,276	 
	
              TRANSFERS (From
      Subsidiaries)

            	 	 	553,721	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	553,721	 
	
              TOTAL
      RECEIPTS

            	 	 	559,997	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	559,997	 
	
              DISBURSEMENTS

            	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              NET
      PAYROLL

            	 	 	(139,793	)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(139,793	)
	
              PAYROLL
      TAXES

            	 	 	(74,040	)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(74,040	)
	
              EMPLOYEE
      BENEFITS

            	 	 	(12,508	)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(12,508	)
	
              TRAVEL
      EXPENSES

            	 	 	(12,797	)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(12,797	)
	
              SALES,
      USE, & OTHER TAXES

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              INVENTORY
      PURCHASES

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              SECURED/
      RENTAL/ LEASES

            	 	 	(49,687	)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(49,687	)
	
              INSURANCE

            	 	 	(27,964	)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(27,964	)
	
              ADMINISTRATIVE

            	 	 	(8,630	)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(8,630	)
	
              SELLING

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              CONSULTING
      FEES

            	 	 	(10,000	)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(10,000	)
	
              DIRECTOR
      FEES & EXPENSES

            	 	 	(25,161	)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(25,161	)
	
              OWNER
      DRAW

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              TRANSFERS
      (To
      Subsidiaries)

            	 	 	(15,000	)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(15,000	)
	
              PROFESSIONAL
      FEES

            	 	 	(7,782	)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(7,782	)
	
              U.S.
      TRUSTEE QUARTERLY FEES

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              COURT
      COSTS

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              TOTAL
      DISBURSEMENTS

            	 	 	(383,362	)	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(383,362	)
	 
      	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              NET CASH FLOW
      (RECEIPTS LESS DISBURSEMENTS)

            	 	 	176,635	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	176,635	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              CASH
      – END OF MONTH

            	 	$	176,982	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	176,982	 

    

    

    *COMPENSATION
TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

    

    
      	
              Cash Receipts and
      Disbursements - Information Supporting above
    Amounts:

            	 	 	 
	
              OTHER
      RECEIPTS:

            	 	 	 
	
              Tax
      Return from IRS

            	 	$	514	 
	
              Checks
      Outstanding Cancelled at Filing Date

            	 	 	5,762	 
	
              TOTAL
      OTHER RECEIPTS

            	 	$	6,276	 
	 
      	 	 	 	 
	
              TRANSFERS IN FROM
      SUBSIDIARIES:

            	 	 	 	 
	
              Mitchell
      Site Acquisition, Inc.

            	 	$	418,000	 
	
              Complete
      Tower Sources, Inc.

            	 	 	110,000	 
	
              LFC,
      Inc

            	 	 	12,000	 
	
              Viasys
      Services, Inc.

            	 	 	10,000	 
	
              Aeon
      Technologies Group, Inc

            	 	 	3,721	 
	
              TOTAL
      TRANSFERS IN

            	 	$	553,721	 
	 
      	 	 	 	 
	
              TRANSFERS OUT TO
      SUBSIDIARIES:

            	 	 	 	 
	
              Ayin
      Tower Management Services, Inc.

            	 	$	15,000	 

    

    

    

    THE
FOLLOWING SECTION MUST BE COMPLETED

    DISBURSEMENTS
FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL
COLUMN)

    

    
      	
              TOTAL
      DISBURSEMENTS

            	 	$	383,362	 
	
              LESS:
      TRANSFERS TO OTHER DEBTOR IN POSSESSION ACCOUNTS

            	 	 	-	 
	
              PLUS:
      ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow
      accounts)

            	 	 	-	 
	
              TOTAL
      DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES

            	 	$	383,362	 

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        	
                In
      re

              	
                CHARYS HOLDING COMPANY, INC

              	 
      	
                Case
      No.

              	 	
                08-10289 (BLS)

              
	 
      	
                Debtor

              	 
      	
                Reporting
      Period:

              	 	
                2/15/08
      through 3/31/08

              

      

      

    

    BANK
RECONCILIATIONS

    

    Continuation
Sheet for MOR-1

    

    A bank
reconciliation must be included for each bank account. The debtor's bank
reconciliation may be substituted for this page. BB&T Bank Statement (Bank
account numbers may be redacted to last four numbers.)

    

    
      	 
      	
              Operating

              #
      2061 - BB&T

            	
              Payroll

              #

            	
              Tax

              #

            	
              Other

              #

            
	
              BALANCE
      PER BOOKS

            	
               176,981.86

            	 
      	 
      	 
      
	 	 	 	 	 
	
              BANK
      BALANCE

            	
              243,731.86

            	 
      	 
      	 
      
	
              (+)
      DEPOSITS IN TRANSIT (ATTACH
      LIST)

            	
              0

            	 
      	 
      	 
      
	
              (-)
      OUTSTANDING CHECKS (ATTACH LIST)
      :

            	
               66,750.00

            	 
      	 
      	 
      
	
              OTHER
      (ATTACH
      EXPLANATION)

            	
              0

            	 
      	 
      	 
      
	 	 	 	 	 
	
              ADJUSTED
      BANK BALANCE *

            	
              176,981.86

            	 
      	 
      	 
      

    

    

    *"Adjusted
Bank Balance" must equal "Balance per Books"

    

    
      	
              DEPOSITS
      IN TRANSIT

            	
              Date

            	
              Amount

            	
              Date

            	
              Amount

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              CHECKS
      OUTSTANDING

            	
              Ck.
      #

            	
              Amount

            	
              Ck.
      #

            	
              Amount

            
	 
      	
              1427

            	
              15.00

            	
              1448

            	
               558.70

            
	 
      	
              1429

            	
              30.00

            	
              1449

            	
               3,934.48

            
	 
      	
              1430

            	
              15.00

            	
              1450

            	
               388.43

            
	 
      	
              1433

            	
              1,421.48

            	
              1451

            	
               35.00

            
	 
      	
              1435

            	
              36.00

            	
              1452

            	
               180.00

            
	 
      	
              1439

            	
              1.47

            	
              1453

            	
               24,843.31

            
	 
      	
              1440

            	
              1,962.16

            	
              1454

            	
               1,477.50

            
	 
      	
              1441

            	
              5,818.74

            	
              1456

            	
               13,817.83

            
	 
      	
              1442

            	
              4,000.00

            	
              1457

            	
               161.44

            
	 
      	
              1443

            	
              3,000.00

            	 
      	 
      
	 
      	
              1444

            	
              3,000.00

            	 
      	 
      
	 
      	
              1445

            	
              786.85

            	 
      	 
      
	 
      	
              1447

            	
              1,266.61

            	 
      	
              66,750.00

            

    

    

    OTHER

     

    
      

    

    
      

      

      

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    BB&T

    

    
      	 
      	 
      	
              STATEMENT
      DATE

            
	 
      	
              BB&T
      -GEORGIA

            	
              03-31-08

            
	 
      	 
      	
              PAGE
      1

            

    

    

    800-04-01-001710228 COOl3030 020005148512061

    CHARYS
HOLDING COMPANY

    DISBURSEMENT
ACCT

    1117
PERIMETER CTR W STE N415

    ATLANTA
GA 30338-5417

    

    
      	 	 	 
	
              BUSINESS
      VALUE CHECKING

            	
              ACCOUNT
      NUMBER

            	
              0005148512061

            

    

    

    ACCOUNT
SUMMARY 

      
        

      

    

    

    
      	
              PREVIOUS
      BALANCE AS OF 02-29-08

            	 
      	
              166,004.80

            
	
               
      9  DEPOSITS/CREDITS

            	
              334,235.48+

            	 
      
	
              28
      CHECKS PAID

            	
              73,884.83-

            	 
      
	
               
      8 WITHDRAWALS/DEBITS

            	
              182,092.59-

            	 
      
	
                  
      SERVICE CHARGE

            	
              531.00-

            	 
      
	
              NEW
      BALANCE AS OF 3-31-08

            	 
      	
              243,731.86

            

    

    

    CHECKS
PAID 

      
        

      

    

    

    
      	
              DATE

            	
              CHECK
      NUMBER

            	
              AMOUNT

            	
              REFERENCE
      NUMBER

            	
              DATE

            	
              CHECK
      NUMBER

            	
              AMOUNT

            	
              REFERENCE
      NUMBER

            
	
              03-10

            	
              1408

            	
              173.07

            	
              2901487721

            	 
      	
              ****

            	 
      	 
      
	
              03-05

            	
              1409

            	
              128.82

            	
              2908061339

            	
              03-28

            	
              1431

            	
              80.00

            	
              2901733608

            
	
              03-05

            	
              1410

            	
              24,843.31

            	
              2908408670

            	
              03-26

            	
              1432

            	
              615.99

            	
              2900613965

            
	
              03-11

            	
              1411

            	
              229.00

            	
              2804152287

            	
               
      

            	
              ****

            	 
      	 
      
	
              03-04

            	
              1412

            	
              12,725.10

            	
              2907704404

            	
              03-31

            	
              1434

            	
              388.43

            	
              290275483

            
	
              03-06

            	
              1413

            	
              1,409.69

            	
              2900246486

            	 
      	
              ****

            	 
      	 
      
	
              03-10

            	
              1414

            	
              5,759.55

            	
              2901335926

            	
              03-31

            	
              1436

            	
              5,700.00

            	
              2902726527

            
	
               
      

            	
              ****

            	 
      	 
      	
               

            	

              ****

            	 
      	 
      
	
              03-18

            	
              1417

            	
              42.00

            	
              7800071640

            	
              03-26

            	
              1438

            	
              367.16

            	
              2900432900

            
	
              03-14

            	
              1418

            	
              419.16

            	
              2904345151

            	 
      	
              ****

            	 
      	 
      
	
              03-14

            	
              1419

            	
              249.80

            	
              2904345152

            	
              03-31

            	
              1446

            	
              3,168.91

            	
              2902130827

            
	
              03-17

            	
              1420

            	
              5,000.00

            	
              2904916318

            	 
      	
              ****

            	 
      	 
      
	
              03-20

            	
              1421

            	
              35.00

            	
              2907332181

            	
              03-31

            	
              1455

            	
              389.21

            	
              2902130828

            
	
              03-24

            	
              1422

            	
              60.50

            	
              2806523139

            	 
      	
              ****

            	 
      	 
      
	
              03-21

            	
              1423

            	
              74.57

            	
              2907621062

            	
              03-04

            	
              6106414

            	
              6,659.88

            	
              2907144482

            
	
              03-19

            	
              1424

            	
              63.72

            	
              2906373631

            	
              03-03

            	
              6106415

            	
              3,076.94

            	
              2906492344

            
	
              03-19

            	
              1425

            	
              260.89

            	
              2906620844

            	
              03-03

            	
              6106416

            	
              972.06

            	
              4404908116

            
	
               
      

            	
              ****

            	 
      	 
      	03-17	
              6106417

            	
              972.07

            	
              4405883288

            
	
              03-28

            	
              1428

            	
              20.00

            	
              2901610589

            	 
      	 
      	 
      	 
      

    

    

    ****
INDICATES A SKIP IN SEQUENTIAL CHECK NUMBERS

    

    OTHER
WITHDRAWALS/DEBITS 

      

    

    

    
      	
              DATE

            	
              AMOUNT

            	 	
              DESCRIPTION

            	 
      	
              REFERENCE
      NUMBER

            
	
              03-04

            	
              10,540.90

            	 	
              PC
      WIRE TRANSFER

            	 
      	
              114

            
	 
      	 
      	 	
              WIRE REF#
      20080304-00005188

            	 
      	
              114

            
	
              03-06

            	
              2,148.07

            	 	
              CONVERTED
      CHECK-ARC

            	
              1416

            	
              660007936

            
	 
      	 
      	 	
              7703921009
      METROPOLITAN 3

            	
              1416

            	
              660007936

            
	 
      	 
      	 	
              0001416

            	
              1416

            	
              660007936

            
	
              03-12

            	
              72,469.59

            	 	
              PC
      WIRE TRANSFER

            	 
      	
              114

            
	 
      	 
      	 	
              WIRE REF#
      20080312-00002469

            	 
      	
              114

            
	
              03-14

            	
              10,000.00

            	 	
              PC
      WIRE TRANSFER

            	 
      	
              114

            
	 
      	 
      	 	
              WIRE REF#
      20080314-00007188

            	 
      	
              114

            
	
              03-21

            	
              531.00

            	 	
              SERVICE
      CHARGE

            	 
      	 
      
	
              03-25

            	
              69,578.64

            	 	
              PC
      WIRE TRANSFER

            	 
      	
              114

            
	 
      	 
      	 	
              WIRE REF#
      20080325-00004240

            	 
      	
              114

            
	
              03-25

            	
              2,311.30

            	 	
              PC
      WIRE TRANSFER

            	 
      	
              114

            
	 
      	 
      	 	
              WIRE REF#
      20080325-00004203

            	 
      	 
      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    BB&T

    

    

    
      	 
      	 
      	
              STATEMENT
      DATE

            
	 
      	
              BB&T
      -GEORGIA

            	
              03-31-08

            
	 
      	 
      	
              PAGE
      2-l

            

    

    

    

    800-04-01-001710228 COOl3030 020005148512061

    CHARYS
HOLDING COMPANY

    

    

    
      	 	 	 
	
              BUSINESS
      VALUE CHECKING

            	
              ACCOUNT
      NUMBER

            	
              0005148512061

            

    

    

    

    OTHER WITHDRAWALS/DEBITS 

      

    

    

    

    
      	
              DATE

            	
              AMOUNT

            	 	
              DESCRIPTION

            	 
      	
              REFERENCE
      NUMBER

            
	 
      	 
      	 	 
      	 
      	 
      
	
              03-26

            	
              44.09

            	 	
              CHECK
      CHRG HARLAND CHECKS

            	
              8414102

            	
              862222985

            
	 
      	 
      	 	
              CHARYS
      HOLDING COMPANY

            	

              8414102

            	

              862222985

            
	
              03-31

            	
              15,000.00

            	 	
              PC
      WIRE TRANSFER

            	 
      	
              114

            
	 
      	 
      	 	
              WIRE
      REF# 20080331-00006251

            	 
      	
              114

            

    

    

    DEPOSITS/OTHER
CREDITS 

      

    

    

    
      	
              DATE

            	
              AMOUNT

            	 	
              DESCRIPTION

            	 	
              REFERENCE
      NUMBER

            
	 
      	 
      	 	 
      	 	 
      
	
              03-05

            	
              514.73

            	 	
              DEPOSIT

            	 	
              4305169993

            
	
              03-14

            	
              20,000.00

            	 	
              INCOMING
      WIRE TRANSFER

            	 	
              114

            
	 
      	 
      	 	
              WIRE
      REF# 20080314-00002856

            	 	
              114

            
	
              03-14

            	
               5,000.00

            	 	
              INCOMING
      WIRE TRANSFER

            	 	
              114

            
	 
      	 
      	 	
              WIRE
      REF# 20080314-00004499

            	 	
              114

            
	
              03-18

            	
              118,000.00

            	 	
              INCOMING
      WIRE TRANSFER

            	 	
              114

            
	 
      	 
      	 	
              WIRE
      REF# 20080318-00000590

            	 	
              114

            
	
              03-18

            	
              3,720.75

            	 	
              INCOMING
      WIRE TRANSFER

            	 	
              114

            
	 
      	 
      	 	
              WIRE
      REF# 20080318-00006583

            	 	
              114

            
	
              03-20

            	
               20,000.00

            	 	
              INCOMING
      WIRE TRANSFER

            	 	
              114

            
	 
      	 
      	 	
              WIRE
      REF# 20080320-00006585

            	 	
              114

            
	
              03-21

            	
              5,000.00

            	 	
              INCOMING
      WIRE TRANSFER

            	 	
              114

            
	 
      	 
      	 	
              WIRE
      REF# 20080321-00001862

            	 	
              114

            
	
              03-28

            	
              150,000.00

            	 	
              INCOMING
      WIRE TRANSFER

            	 	
              114

            
	 
      	 
      	 	
              WIRE
      REF# 20080328-00000854

            	 	
              114

            
	
              03-28

            	
              12,000.00

            	 	
              DEPOSIT

            	 	
              4406950336

            

    

    

    DAILY BALANCE SUMMARY 

      

    

    

    
      	
              DATE

            	
              BALANCE

            	 	 	
              DATE

            	
              BALANCE

            	 	 	
              DATE

            	
              BALANCE

            
	
              03-03

            	
              161,955.80

            	 	 	
              03-12

            	
              25,383.55

            	 	 	
              03-21

            	
              179,456.09

            
	
              03-04

            	
              132,029.92

            	 	 	
              03-14

            	
              39,714.59

            	 	 	
              03-24

            	
              179,39559

            
	
              03-05

            	
              107,572.52

            	 	 	
              03-17

            	
              33,742.52

            	 	 	
              03-25

            	
              107,505.65

            
	
              03-06

            	
               104,014.76

            	 	 	
              03-18

            	
              155,421.27

            	 	 	
              03-26

            	
              106,478.41

            
	
              03-10

            	
              98,082.14

            	 	 	
              03-19

            	
              155,096.66

            	 	 	
              03-28

            	
              268,378.41

            
	
              03-11

            	
              97,853.14

            	 	 	
              03-20

            	
              175,061.66

            	 	 	
              03-31

            	
              243,731.86

            

    

    

    FOR
ASSISTANCE, CALL (678) 762-5200 OR FOR BB&T PHONE24, CALL (800)BANKBBT
(1-800-226-5228).

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        	
                In
      re

              	
                CHARYS HOLDING COMPANY, INC

              	 
      	
                Case
      No.

              	 	
                08-10289 (BLS)

              
	 
      	
                Debtor

              	 
      	
                Reporting
      Period:

              	 	
                2/15/08
      through 3/31/08

              

      

      

    

    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.

    

    The
accompanying unaudited, condensed unconsolidated financial statements are for
Charys Holding Company, Inc. (the “Holding Company”), on a stand alone basis.
These financial statements have been prepared on an accrual basis. In the
opinion of management, all material adjustments necessary for a fair
presentation of the results for this interim period have been made.

    

    Some
adjustments required management to make certain assumptions and estimates.
However, not all adjustments related to certain discontinued operations have
been recorded to date. The effect of such adjustments would be limited to
reporting of the (intercompany) earnings from the subsidiaries and the
(intercompany) investment in subsidiaries on the Holding Company’s financial
statements. For purposes of these interim financial statements, the following
subsidiaries are considered discontinued: Personnel Resources of Georgia, Inc.,
Method IQ, Inc, Aeon Technologies Group, Inc. and Digital Communications
Services, Inc.

    

    
      	
              REVENUES

            	 	
              MONTH

            	 	 	
              CUMULATIVE
      -FILING TO DATE

            	 
	
              Gross
      Revenues

            	 	 	 	 	 	 
	
              Less:
      Returns and Allowances

            	 	 	 	 	 	 
	
              Net
      Loss in Subsidiaries

            	 	$	(4,037,096	)	 	$	(4,037,096	)
	
              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

            	 	 	 	 	 	 	 	 
	
              OPERATING
      EXPENSES

            	 	 	 	 	 	 	 	 
	
              Advertising

            	 	 	 	 	 	 	 	 
	
              Auto
      and Truck Expense

            	 	 	 	 	 	 	 	 
	
              Bad
      Debts

            	 	 	 	 	 	 	 	 
	
              Employee
      Benefits Programs

            	 	 	 	 	 	 	 	 
	
              Officer/Insider
      Compensation*

            	 	 	204,740	 	 	 	204,740	 
	
              Insurance

            	 	 	72,383	 	 	 	72,383	 
	
              Management
      Fees/Bonuses

            	 	 	 	 	 	 	 	 
	
              Office
      Expense

            	 	 	 	 	 	 	 	 
	
              Pension
      & Profit-Sharing Plans

            	 	 	 	 	 	 	 	 
	
              Professional
      Fees -ordinary course

            	 	 	84,917	 	 	 	84,917	 
	
              Repairs
      and Maintenance

            	 	 	 	 	 	 	 	 
	
              Rent
      and Lease Expense

            	 	 	19,907	 	 	 	19,907	 
	
              Salaries/Commissions/Fees

            	 	 	22,643	 	 	 	22,643	 
	
              Supplies

            	 	 	6,050	 	 	 	6,050	 
	
              Taxes
      - Payroll

            	 	 	12,387	 	 	 	12,387	 
	
              Taxes
      - Real Estate

            	 	 	 	 	 	 	 	 
	
              Taxes
      - Other

            	 	 	 	 	 	 	 	 
	
              Travel
      and Entertainment

            	 	 	9,602	 	 	 	9,602	 
	
              Utilities

            	 	 	7,144	 	 	 	7,144	 
	
              Other
      (attach
      schedule)

            	 	 	57,819	 	 	 	57,819	 
	
              Total
      Operating Expenses Before Depreciation

            	 	 	 	 	 	 	 	 
	
              Depreciation/Depletion/Amortization

            	 	 	4,552	 	 	 	4,552	 
	
              Net
      Profit (Loss) Before Other Income & Expenses

            	 	 	(4,539,239	)	 	 	(4,539,239	)
	
              OTHER
      INCOME AND EXPENSES

            	 	 	 	 	 	 	 	 
	
              Other
      Income (attach
      schedule)

            	 	 	 	 	 	 	 	 
	
              Interest
      Expense - Secured Debt

            	 	 	105,930	 	 	 	105,930	 
	
              Other
      Expense (attach
      schedule)

            	 	 	 	 	 	 	 	 

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
       

      
        
          	
                  In
      re

                	
                  CHARYS HOLDING COMPANY, INC

                	 
      	
                  Case
      No.

                	 	
                  08-10289 (BLS)

                
	 
      	
                  Debtor

                	 
      	
                  Reporting
      Period:

                	 	
                  2/15/08
      through 3/31/08

                

        

         

      

    

    
      	
              Net
      Profit (Loss) Before Reorganization Items

            	 	 	(4,645,169	)	 	 	(4,645,169	)

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        
          	
                  In
      re

                	
                  CHARYS HOLDING COMPANY, INC

                	 
      	
                  Case
      No.

                	 	
                  08-10289 (BLS)

                
	 
      	
                  Debtor

                	 
      	
                  Reporting
      Period:

                	 	
                  2/15/08
      through 3/31/08

                

        

        
 

      

    

    
      	
              REORGANIZATION
      ITEMS

            	 	 	 	 	 	 
	
              Professional
      Fees

            	 	 	1,520,259	 	 	 	1,520,259	 
	
              U.
      S. Trustee Quarterly Fees

            	 	 	4,875	 	 	 	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

            	 	 	1,525,134	 	 	 	1,525,134	 
	
              Income
      Taxes

            	 	 	 	 	 	 	 	 
	
              Net
      Profit (Loss)

            	 	$	(6,170,303	)	 	$	(6,170,303	)

    

    

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

    

    BREAKDOWN
OF “OTHER” CATEGORY

    

    OTHER
COSTS

    
      	
              Thomas Bosley

            	 	$	22,852	 	 	$	22,852	 
	
              Market
      Street Partners, LLC

            	 	 	11,307	 	 	 	11,307	 
	
              American
      Capital Ventures

            	 	 	5,000	 	 	 	5,000	 
	
              M H
      Data Services

            	 	 	5,700	 	 	 	5,700	 
	
              Capitol
      Services

            	 	 	1,958	 	 	 	1,958	 
	
              Other

            	 	 	8,502	 	 	 	8,502	 
	
              Mirador
      Consulting

            	 	 	2,500	 	 	 	2,500	 
	
              Subtotal

            	 	$	57,819	 	 	$	57,819	 

    

    

    OTHER
INCOME

    
      	 	
              none

            	
              none

            	 

    

    

    OTHER
EXPENSES

    
      	 
      	
              none

            	
              none

            	 

    

    

    OTHER
REORGANIZATION EXPENSES

    
      	 	 	 	1,520,259	 	 	 	1,520,259	 

    

     

    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.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        
          	
                  In
      re

                	
                  CHARYS HOLDING COMPANY, INC

                	 
      	
                  Case
      No.

                	 	
                  08-10289 (BLS)

                
	 
      	
                  Debtor

                	 
      	
                  Reporting
      Period:

                	 	
                  2/15/08
      through 3/31/08

                

        

        

      

    

    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

                  	 	$	176,982	 	 
      	 
      
	
                    Restricted
      Cash and Cash Equivalents (see continuation
      sheet)

                  	 	 	 	 	 
      	 
      
	
                    Intercompany
      Receivables

                  	 	 	172,057,850	 	 
      	 
      
	
                    Notes
      Receivable

                  	 	 	 	 	 
      	 
      
	
                    Inventories

                  	 	 	 	 	 
      	 
      
	
                    Prepaid
      Expenses

                  	 	 	679,082	 	 
      	 
      
	
                    Professional
      Retainers

                  	 	 	 	 	 
      	 
      
	
                    Other
      Current Assets (attach
      schedule)

                  	 	 	161,370	 	 
      	 
      
	
                    TOTAL
      CURRENT ASSETS

                  	 	 	 	 	 
      	 
      
	
                    PROPERTY
      & EQUIPMENT

                  	 	 	 	 	 
      	 
      
	
                    Real
      Property and Improvements

                  	 	 	 	 	 
      	 
      
	
                    Machinery
      and Equipment

                  	 	 	 	 	 
      	 
      
	
                    Furniture,
      Fixtures and Office Equipment

                  	 	 	 	 	 
      	 
      
	
                    Leasehold
      Improvements

                  	 	 	 	 	 
      	 
      
	
                    Vehicles

                  	 	 	 	 	 
      	 
      
	
                    Less:
      Accumulated Depreciation

                  	 	 	 	 	 
      	 
      
	
                    TOTAL
      PROPERTY & EQUIPMENT

                  	 	 	76,675	 	 
      	 
      
	
                    OTHER
      ASSETS

                  	 	 	 	 	 
      	 
      
	
                    Amounts
      due from Insiders*

                  	 	 	 	 	 
      	 
      
	
                    Other
      Assets (Investment in
      Subsidiaries)

                  	 	 	(3,117,216	)	 
      	 
      
	
                    TOTAL
      OTHER ASSETS

                  	 	 	 	 	 
      	 
      
	
                    TOTAL
      ASSETS

                  	 	$	170,034,742	 	 
      	 
      

          

        

      

    

     

    
      
        	
                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

              	 	$	93,509	 	 
      	 
      
	
                Taxes
      Payable (refer to FORM
      MOR-4)

              	 	 	 	 	 
      	 
      
	
                Wages
      Payable

              	 	 	 	 	 
      	 
      
	
                Notes
      Payable

              	 	 	 	 	 
      	 
      
	
                Rent
      / Leases - Building/Equipment

              	 	 	1,421	 	 
      	 
      
	
                Secured
      Debt / Adequate Protection Payments

              	 	 	 	 	 
      	 
      
	
                Professional
      Fees

              	 	 	1,605,176	 	 
      	 
      
	
                Amounts
      Due to Insiders*

              	 	 	 	 	 
      	 
      
	
                Other
      Post-petition Liabilities (attach
      schedule)

              	 	 	 	 	 
      	 
      
	
                TOTAL
      POST-PETITION LIABILITIES

              	 	 	1,700,106	 	 
      	 
      
	
                LIABILITIES
      SUBJECT TO COMPROMISE (Pre-Petition)

              	 	 	 	 	 
      	 
      
	
                Secured
      Debt

              	 	 	5,959,135	 	 
      	 
      
	
                Unsecured
      Debt - Notes Payable

              	 	 	 	 	 
      	 
      
	
                Unsecured
      Debt - Accrued Expenses

              	 	 	317,633,180	 	 
      	 
      
	
                TOTAL
      PRE-PETITION LIABILITIES

              	 	 	323,592,315	 	 
      	 
      
	
                TOTAL
      LIABILITIES

              	 	 	325,292,421	 	 
      	 
      
	
                OWNERS'
      EQUITY

              	 	 	 	 	 
      	 
      
	
                Capital
      Stock

              	 	 	58,953	 	 
      	 
      
	
                Additional
      Paid-In Capital

              	 	 	345,724,500	 	 
      	 
      
	
                Partners'
      Capital Account

              	 	 	 	 	 
      	 
      
	
                Owner's
      Equity Account

              	 	 	 	 	 
      	 
      
	
                Retained
      Earnings - Pre-Petition

              	 	 	(494,870,829	)	 
      	 
      
	
                Retained
      Earnings - Post-petition

              	 	 	(6,170,303	)	 
      	 
      
	
                Adjustments
      to Owner Equity (attach
      schedule)

              	 	 	 	 	 
      	 
      
	
                Post-petition
      Contributions (attach
      schedule)

              	 	 	 	 	 
      	 
      
	
                NET
      OWNERS’ EQUITY

              	 	 	(155,257,679	)	 
      	 
      
	
                TOTAL
      LIABILITIES AND OWNERS' EQUITY

              	 	$	170,034,742	 	 
      	 
      

      

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

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        
          
            	
                    In
      re

                  	
                    CHARYS HOLDING COMPANY, INC

                  	 
      	
                    Case
      No.

                  	 	
                    08-10289 (BLS)

                  
	 
      	
                    Debtor

                  	 
      	
                    Reporting
      Period:

                  	 	
                    2/15/08
      through 3/31/08

                  

          

           

        

      

    

    BALANCE
SHEET - continuation section

    
      	
              ASSETS

            	 	
              BOOK
      VALUE AT END OF CURRENT REPORTING MONTH

            	 	
              BOOK
      VALUE AT END OF PRIOR REPORTING MONTH

            	
              BOOK
      VALUE ON PETITION DATE

            
	
              Retainers/Advances
      to professionals

            	 	$	78,531	 	 
      	 
      
	
              Other
      Receivables

            	 	 	8,107	 	 
      	 
      
	
              Travel
      Advances

            	 	 	56,854	 	 
      	 
      
	
              Deposits

            	 	 	17,878	 	 
      	 
      
	
              Subtotal

            	 	$	161,370	 	 
      	 
      

    

    Other
Assets

    
      
        	
                Intercompany
      Receivables

              	 	$	172,057,850	 	 	 

      

    

     

    
      	
              LIABILITIES
      AND OWNER EQUITY

            	 	
              BOOK
      VALUE AT END OF CURRENT REPORTING MONTH

            	 	 	BOOK
      VALUE ON PETITION DATE
	 	 	 	 	 	 
	
              Other
      Post-petition Liabilities

            	 	 	 	 	 
      
	 
      	 	 	 	 	 
      
	 
      	 	 	 	 	 
      
	 
      	 	 	 	 	 
      
	
              Other
      Pre-petition Liabilities

            	 	 	 	 	 
      
	
              Accrued
      Interest

            	 	$	18,643,000	 	 	 
      
	
              Notes
      Payable

            	 	 	287,654,759	 	 	 
      
	
              Accrued
      Bonus

            	 	 	2,154,600	 	 	 
      
	
              Accrued
      Acquisition Costs

            	 	 	2,654,934	 	 	 
      
	
              Accrued
      Finaning Costs

            	 	 	3,462,625	 	 	 
      
	
              Accounts
      Payable Pre-petition

            	 	 	3,063,262	 	 	 
      
	 
      	 	 	 	 	 	 
      
	 
      	 	$	317,633,180	 	 	 
      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        
          
            	
                    In
      re

                  	
                    CHARYS HOLDING COMPANY, INC

                  	 
      	
                    Case
      No.

                  	 	
                    08-10289 (BLS)

                  
	 
      	
                    Debtor

                  	 
      	
                    Reporting
      Period:

                  	 	
                    2/15/08
      through 3/31/08

                  

          

           

        

      

    

    STATUS
OF POST-PETITION TAXES

    

    The
beginning tax liability should be the ending liability from the prior month or,
if this is the first report, the

    amount
should be zero.

    Attach
photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of
federal payroll taxes.

    Attach
photocopies of any tax returns filed during the reporting period.

    

    
      	
               

              Federal

            	 	
              Beginning
      Tax

            	 	 	
              Amount
      Withheld and/or Accrued

            	 	 	
              Amount
      Paid

            	 	
              Date
      Paid

            	
              Check
      # or EFT

            	 	
              Ending
      Tax

            	 
	
              Withholding

            	 	$	-	 	 	$	40,197	 	 	 	(40,197	)$	 
      	 
      	 	$	-	 
	
              FICA-Employee

            	 	 	-	 	 	 	11,533	 	 	 	(11,533	)	 
      	 
      	 	 	-	 
	
              FICA-Employer

            	 	 	-	 	 	 	11,533	 	 	 	(11,533	)	 
      	 
      	 	 	-	 
	
              Unemployment

            	 	 	-	 	 	 	18	 	 	 	(18	)	 
      	 
      	 	 	-	 
	
              Income

            	 	 	-	 	 	 	-	 	 	 	-	 	 
      	 
      	 	 	-	 
	
              Other:_____________

            	 	 	-	 	 	 	-	 	 	 	-	 	 
      	 
      	 	 	-	 
	
              Total
      Federal Taxes

            	 	 	-	 	 	 	63,281	 	 	 	(63,281	)	 
      	 
      	 	 	-	 
	
              State
      and Local

            	 	 	 	 	 	 	 	 	 	 	 	 	 
      	 
      	 	 	 	 
	
              Withholding

            	 	 	-	 	 	 	10,699	 	 	 	(10,699	)	 
      	 
      	 	 	-	 
	
              Sales

            	 	 	-	 	 	 	-	 	 	 	-	 	 
      	 
      	 	 	-	 
	
              Excise

            	 	 	-	 	 	 	-	 	 	 	-	 	 
      	 
      	 	 	-	 
	
              Unemployment

            	 	 	-	 	 	 	60	 	 	 	(60	)	 
      	 
      	 	 	-	 
	
              Real
      Property

            	 	 	-	 	 	 	-	 	 	 	-	 	 
      	 
      	 	 	-	 
	
              Personal
      Property

            	 	 	-	 	 	 	-	 	 	 	-	 	 
      	 
      	 	 	-	 
	
              Other:_____________

            	 	 	-	 	 	 	-	 	 	 	-	 	 
      	 
      	 	 	-	 
	
              Total State
      and Local

            	 	 	-	 	 	 	10,759	 	 	 	(10,759	)	 
      	 
      	 	 	-	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 	 
      	 
      	 	 	 	 
	
              Total
      Taxes

            	 	$	-	 	 	$	74,040	 	 	 	(74,040	)$	 
      	 
      	 	$	-	 

    

    

    
      	
               
      

            	
              A

            	
              Paid
      on 2/26 Wire# 0226E3QP0221C001297; 2/29
  CK#6106414-16

            

    

    
      	
               
      

            	
              B

            	
              Paid
      on 3/12 Wire# 0239223/000173/000173; 3/15 CK#
  6106417

            

    

    
      	
               
      

            	
              C

            	
              Paid
      on 3/25 Wire# 0361679/000353/000353

            

    

    

    SUMMARY
OF UNPAID POST-PETITION DEBTS

     

    Attach
aged listing of accounts payable.

    

    
      	 
      	 	 	 	 	 	 	 	
              Number
      of Days Past Due

            	 	 	 	 	 	 	 
	 
      	 	
              Current:
      See Note

            	 	 	 	0-30	 	 	 	31-60	 	 	 	61-90	 	 	
              Over
      91

            	 	 	
              Total

            	 
	
              Accounts
      Payable

            	 	$	93,509	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	93,509	 
	
              Wages
      Payable

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              Taxes
      Payable

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              Rent/Leases-Building

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              Rent/Leases-Equipment

            	 	 	1,421	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	1,421	 
	
              Secured
      Debt/Adequate Protection Payments

            	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	-	 
	
              Professional
      Fees

            	 	 	1,605,176	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	1,605,176	 
	
              Amounts
      Due to Insiders

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              Other:______________

            	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	-	 
	
              Other:______________

            	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	-	 
	
              Total
      Post-petition Debts

            	 	$	1,700,106	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	1,700,106	 

    

    

    Explain
how and when the Debtor intends to pay any past due post-petition
debts.

    

    Secured
Interest payment disputed. 

      
        

      

    

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        
          
            	
                    In
      re

                  	
                    CHARYS HOLDING COMPANY, INC

                  	 
      	
                    Case
      No.

                  	 	
                    08-10289 (BLS)

                  
	 
      	
                    Debtor

                  	 
      	
                    Reporting
      Period:

                  	 	
                    2/15/08
      through 3/31/08

                  

          

           

        

      

    

    

    ACCOUNTS
RECEIVABLE RECONCILIATION AND AGING

    

    
      	
              Accounts
      Receivable Reconciliation

            	 	
              Amount

            	 
	
              Total
      Accounts Receivable at the beginning of the reporting
    period

            	 	$	-	 
	
              Plus:
      Amounts billed during the period

            	 	 	-	 
	
              Less:
      Amounts collected during the period

            	 	 	-	 
	
              Total
      Accounts Receivable at the end of the reporting period

            	 	$	-	 

    

    

    
      	
              Accounts
      Receivable Aging

            	 	
              0-30
      Days

            	 	 	
              31-60
      Days

            	 	 	
              61-90
      Days

            	 	 	
              91+
      Days

            	 	 	Total	 
	
              0 -
      30 days old

            	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 
	
              31
      - 60 days old

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              61
      - 90 days old

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              91+
      days old

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              Total
      Accounts Receivable

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Less:
      Bad Debts (Amount considered uncollectible)

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Net
      Accounts Receivable

            	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 

    

    

    TAXES
RECONCILIATION AND AGING

    

    
      	
              Taxes
      Payable

            	 	
              0-30
      Days

            	 	 	
              31-60
      Days

            	 	 	
              61-90
      Days

            	 	 	
              91+
      Days

            	 	 	
              Total

            	 
	
              0 -
      30 days old

            	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	-	 
	
              31
      - 60 days old

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              61
      - 90 days old

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              91+
      days old

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              Total
      Taxes Payable

            	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
              Total
      Accounts Payable

            	 	$	93,509	 	 	$	-	 	 	$	-	 	 	$	-	 	 	$	93,509	 

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        
          
            
              	
                      In
      re

                    	
                      CHARYS HOLDING COMPANY, INC

                    	 
      	
                      Case
      No.

                    	 	
                      08-10289 (BLS)

                    
	 
      	
                      Debtor

                    	 
      	
                      Reporting
      Period:

                    	 	
                      2/15/08
      through 3/31/08

                    

            

             

          

        

      

    

    PAYMENTS
TO INSIDERS AND PROFESSIONALS

    

    Of the
total disbursements shown on the Cash Receipts and Disbursements Report (MOR-1)
list the amount paid to insiders (as defined in Section 101(31) (A)-(F) of the
U.S. Bankruptcy Code) and to professionals. For payments to insiders, identify
the type of compensation paid

    (e.g.
Salary, Bonus, Commissions, Insurance, Housing Allowance, Travel, Car Allowance,
Etc.). Attach additional sheets if necessary.

    

    
      	
              INSIDERS

            	 
	
              NAME

            	
              TYPE
      OF PAYMENT

            	 	
              AMOUNT
      PAID

            	 	 	
              TOTAL
      PAID TO DATE

            	 
	
              Billy V Ray,
      Jr

            	
              Gross
      Payroll 3/31

            	 	$	37,500	 	 	$	37,500	 
	
              Billy V Ray,
      Jr

            	
              Car
      Allowance 3/15

            	 	 	1,000	 	 	 	1,000	 
	
              Gable
      Apartments (for Billy V Ray, Jr)

            	
              Apartment
      Rental

            	 	 	2,148	 	 	 	2,148	 
	
              Billy V Ray,
      Jr

            	
              ALL

            	 	 	 	 	 	 	40,648	 
	 
      	 
      	 	 	 	 	 	 	 	 
	
              Michael Oyster

            	
              Gross
      Payroll 3/31

            	 	 	31,250	 	 	 	31,250	 
	
              Michael Oyster

            	
              Car
      Allowance 3/15

            	 	 	1,000	 	 	 	1,000	 
	
              Michael Oyster

            	
              Travel

            	 	 	616	 	 	 	616	 
	
              Michael Oyster

            	
              ALL

            	 	 	 	 	 	 	32,866	 
	 
      	 
      	 	 	 	 	 	 	 	 
	
              Raymond Smith

            	
              Gross
      Payroll 3/31

            	 	 	31,250	 	 	 	31,250	 
	
              Raymond Smith

            	
              Car
      Allowance 3/15

            	 	 	1,000	 	 	 	1,000	 
	
              Raymond Smith

            	
              Travel

            	 	 	5,196	 	 	 	5,196	 
	
              Raymond Smith

            	
              ALL

            	 	 	 	 	 	 	37,446	 
	 
      	 
      	 	 	 	 	 	 	 	 
	
              Michael Brown

            	
              Gross
      Payroll 3/31

            	 	 	31,250	 	 	 	31,250	 
	
              Michael Brown

            	
              Travel

            	 	 	 	 	 	 	 	 
	 
      	 
      	 	 	 	 	 	 	 	 
	
              Alec McLarty

            	
              Lead
      Director Fees

            	 	 	15,000	 	 	 	15,000	 
	
              David Gergacz

            	
              Director Fees
      & Expenses

            	 	 	3,161	 	 	 	3,161	 
	
              Dennis Hayes

            	
              Director Fees
      & Expenses

            	 	 	3,000	 	 	 	3,000	 
	
              John Jordan

            	
              Director Fees
      & Expenses

            	 	 	4,000	 	 	 	4,000	 
	 
      	 
      	 	 	 	 	 	 	 	 
	 
      	 
      	 	 	 	 	 	 	 	 
	
              David Ray

            	
              Gross
      Payroll 3/31

            	 	 	11,168	 	 	 	11,168	 
	
              Brandon Ray

            	
              Gross
      Payroll 3/31

            	 	 	9,000	 	 	 	9,000	 
	 
      	 
      	 	 	 	 	 	 	 	 
	
              Ayin Tower
      Management

            	
              Affiliate
      Transfer (out)

            	 	 	15,000	 	 	 	15,000	 
	 
      	 
      	 	 	 	 	 	 	 	 
	
              TOTAL
      PAYMENTS TO INSIDERS

            	 	$	202,539	 	 	$	202,539	 

    

    

    
      	
              BANKRUPTCY
      PROFESSIONALS

            	 
	
              NAME

            	
              DATE
      OF COURT ORDER AUTHORIZING EMPLOYMENT

            	 	
              AMOUNT
      APPROVED

            	 	 	
              AMOUNT
      PAID

            	 	 	
              TOTAL
      PAID TO DATE

            	 	 	
              TOTAL
      INCURRED & UNPAID*

            	 
	
              Weil,
      Gotshal & Manges LLP

            	
              3/7/2008

            	 	 	n/a	 	 	$	-	 	 	$	-	 	 	$	450,000	 
	
              Richards,
      Layton & Finger , P.A.

            	
              3/7/2008

            	 	 	n/a	 	 	 	-	 	 	 	-	 	 	 	40,273	 
	
              Milbank,
      Tweed, Hadley & McCloy LLP

            	
              4/14/2008

            	 	 	n/a	 	 	 	-	 	 	 	-	 	 	 	358,775	 
	
              Morris,
      Nichols, Arsht, & Tunnell LLP

            	
              Pending

            	 	 	n/a	 	 	 	-	 	 	 	-	 	 	 	18,000	 
	
              Michael Brenner

            	
              3/7/2008

            	 	 	n/a	 	 	 	-	 	 	 	-	 	 	 	22,035	 
	
              AlixPartners,
      LLP

            	
              3/7/2008

            	 	 	n/a	 	 	 	-	 	 	 	-	 	 	 	596,000	 
	 
      	 
      	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Kurtzman Carson
      Consultants

            	
              2/15/2008

            	 	 	n/a	 	 	 	-	 	 	 	-	 	 	 	35,177	 
	 
      	 
      	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Total
      Payments to Bankruptcy Professionals

            	 	 	n/a	 	 	$	-	 	 	$	-	 	 	$	1,520,259	 

    

    

    *
INCLUDES ALL ESTIMATED FEES INCURRED PURSUANT TO BUDGETS PROVIDED OR ACTUAL FEES
INCURRED PURSUANT TO INVOICES FILED

    

    POST-PETITION
STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION
PAYMENTS

    

    
      	
              NAME
      OF CREDITOR

            	 	
              SCHEDULED
      MONTHLY PAYMENT DUE

            	 	 	
              AMOUNT
      PAID DURING MONTH

            	 	 	
              
                TOTAL
      UNPAID POSTPETITION

              

            	 
	
              Imperium
      Master Fund, Ltd.

            	 	$	8,913	 	 	$	-	 	 	$	13,513	 
	
              Imperium
      Master Fund, Ltd.

            	 	 	47,360	 	 	 	-	 	 	 	71,804	 
	
              JED Family
      Trust

            	 	 	6,798	 	 	 	-	 	 	 	10,307	 
	
              John Michalson

            	 	 	6,798	 	 	 	-	 	 	 	10,307	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	 
      	 	$	69,869	 	 	 	 	 	 	 	 	 
	 
      TOTAL
      PAYMENTS	 	 	$	-	 	 	$	105,930	 

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
       

      
        
          
            
              
                	
                        In
      re

                      	
                        CHARYS HOLDING COMPANY, INC

                      	 
      	
                        Case
      No.

                      	 	
                        08-10289 (BLS)

                      
	 
      	
                        Debtor

                      	 
      	
                        Reporting
      Period:

                      	 	
                        2/15/08
      through 3/31/08

                      

              

               

            

          

        

      

    

     

    DEBTOR
QUESTIONNAIRE

     

    
      	 	
              Must
      be completed each month. If the answer to any of the questions is “Yes”,
      provide a detailed explanation of each item. Attach additional sheets if
      necessary.

            	
              Yes

            	
              No

            
	
               1

            	
              Have
      any assets been sold or transferred outside the normal course of business
      this reporting period?

            	 
      	
              X

            
	
               2

            	
              Have
      any funds been disbursed from any account other than a debtor in
      possession account this reporting period?

            	 
      	
              X

            
	
               3

            	
              Is
      the Debtor delinquent in the timely filing of any post-petition tax
      returns?

            	 
      	
              X

            
	
               4

            	
              Are
      workers compensation, general liability or other necessary insurance
      coverages expired or cancelled, or has the debtor received notice of
      expiration or cancellation of such policies?

            	 
      	
              X

            
	
               5

            	
              Is
      the Debtor delinquent in paying any insurance premium
    payment?

            	 
      	
              X

            
	
               6

            	
              Have
      any payments been made on pre-petition liabilities this reporting
      period?

            	 
      	
              X

            
	
               7

            	
              Are
      any post petition receivables (accounts, notes or loans) due from related
      parties?

            	 
      	
              X

            
	
               8

            	
              Are
      any post petition payroll taxes past due?

            	 
      	
              X

            
	
               9

            	
              Are
      any post petition State or Federal income taxes past due?

            	 
      	
              X

            
	
               10

            	
              Are
      any post petition real estate taxes past due?

            	 
      	
              X

            
	
               11

            	
              Are
      any other post petition taxes past due?

            	 
      	
              X

            
	
               12

            	
              Have
      any pre-petition taxes been paid during this reporting
    period?

            	 
      	
              X

            
	
               13

            	
              Are
      any amounts owed to post petition creditors delinquent?

            	 
      	
              X

            
	
               14

            	
              Are
      any wage payments past due?

            	 
      	
              X

            
	
               15

            	
              Have
      any post petition loans been been received by the Debtor from any
      party?

            	 
      	
              X

            
	
               16

            	
              Is
      the Debtor delinquent in paying any U.S. Trustee fees?

            	 
      	
              X

            
	
               17

            	
              Is
      the Debtor delinquent with any court ordered payments to attorneys or
      other professionals?

            	 
      	
              X

            
	
               18

            	
              Have
      the owners or shareholders received any compensation outside of the normal
      course of business?

            	 
      	
              Xex10_1.htm

    
      

    

    Exhibit 10.1

    
      
      

      

    

    KIRBY
CORPORATION

    

    

    Nonemployee Director
Compensation Program

    

    Annual Director
Fee

    

    1.           Each
director will receive an annual fee of $24,000, payable in four equal quarterly
payments to be made at the end of each calendar quarter, unless the director
elects to receive (a) a stock option for shares of Kirby common stock or (b)
restricted shares of Kirby common stock, in lieu of all or part of the cash
fee.  The fee will be prorated for any director elected between annual
stockholder meetings.

    

    2.           The
election to receive a stock option or restricted stock in lieu of director fees
will be made annually.  Except as provided in the next sentence, any
director who elects to receive a stock option or restricted stock in lieu of all
or part of the annual fee for the year following any annual meeting of
stockholders must give written notice of that election to Kirby no later than
the December 31 preceding such annual meeting.  A newly elected
director must give written notice of his or her election to receive a stock
option or restricted stock in lieu of all or part of the annual fee no later
than 30 days after the date of his or her first election as a
director.

    

    3.           The
stock option shall be issued on the following terms:

    

    (a)           The
number of shares of stock subject to the option will be equal to (i) the portion
of the annual fee that a director elects to receive in the form of a stock
option divided by (ii) the fair market value of a share of stock on the date of
grant multiplied by (iii) 3, with the result then rounded to the nearest whole
share.

    

    (b)           The
exercise price per share will be the fair market value on the date of
grant.  The fair market value of a share of stock means the closing
price on the New York Stock Exchange on the date of reference.

    

    (c)           The
option will vest one-fourth on the first quarterly payment date, one-fourth on
the second quarterly payment date, one-fourth on the third quarterly payment
date and one-fourth on the fourth quarterly payment date or, in the case of a
director elected between annual stockholder meetings, in equal parts on the
remaining quarterly payment dates prior to the first anniversary of the most
recent annual meeting of stockholders.

    

    (d)           The
option will be subject to the terms of the plan under which it is issued,
including without limitation provisions relating to vesting, exercise,
termination and transferability.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    4.           The
restricted stock shall be issued on the following terms:

    

    (a)           The
number of shares of restricted stock will be equal to (i) the portion of the
annual fee that a director elects to receive in the form of restricted stock
divided by (ii) the fair market value of a share of stock on the date of grant
multiplied by (iii) 1.2, with the result then rounded to the nearest whole
share.

    

    (b)           The
fair market value of a share of stock means the closing price on the New York
Stock Exchange on the date of reference.

    

    (c)           The
restricted stock will vest one-fourth on the first quarterly payment date,
one-fourth on the second quarterly payment date, one-fourth on the third
quarterly payment date and one-fourth on the fourth quarterly payment date or,
in the case of a director elected between annual stockholder meetings, in equal
parts on the remaining quarterly payment dates prior to the first anniversary of
the most recent annual meeting of stockholders.

    

    (d)           The
restricted stock will be subject to the terms of the plan under which it is
issued, including without limitation provisions relating to vesting and
transferability.

    

    5.           Except
as provided in the next sentence, the date of grant of an option or restricted
stock granted in lieu of the annual fee means the date of the next annual
meeting of stockholders after the election by the director to receive a stock
option or restricted stock in lieu of cash fees.  For a newly elected
director, the date of grant means the date of his or her election to receive a
stock option or restricted stock in lieu of cash fees.

    

    6.           The
quarterly payment of cash fees and vesting of stock options and restricted stock
are contingent on a director's continuing to serve in that capacity on each such
quarterly payment or vesting date.

    

    Annual Committee Chairman
and Presiding Director Fees

    

    1.           The
Chairman of the Audit Committee will receive an annual fee of
$15,000.  The Chairmen of the Compensation Committee and the
Governance Committee will each receive an annual fee of $10,000.  The
director selected to be the presiding director at executive sessions of
non-management directors will receive an annual fee of $5,000.  All of
such fees will be payable in four equal quarterly payments to be made at the end
of each calendar quarter.  The committee chairman and presiding
director fees will be prorated for any director who is elected to such position
between annual meetings of the board of directors.

    

    2.           The
quarterly payment of the committee chairman and presiding director fees is
contingent on a director’s continuing to serve in such position on each such
quarterly payment date.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Meeting
Fees

    

    1.           Each
director will receive a fee of $1,250 for each board meeting attended in person
or by telephone.

    

    2.           Each
member of a committee of the board will receive a fee of $3,000 for each
committee meeting attended in person or by telephone.

    

    Automatic Stock Option
Grants

    

    1.           Each
director will receive an option for 10,000 shares of Kirby common stock upon his
or her first election as a director.

    

    2.           Each
director will receive an option for 6,000 shares of Kirby common stock
immediately after each annual meeting of stockholders.

    

    3.           The
exercise price per share in both cases will be the fair market value on the date
of grant.  The options will be subject to the terms of the plan under
which they are issued, including without limitation provisions relating to
vesting, exercise, termination and transferability.

    

    Automatic Restricted Stock
Grants

    

    1.           Each
director will receive 1,000 restricted shares of Kirby common stock immediately
after each annual meeting of stockholders.

    

    2.           The
restricted stock will be subject to the terms of the plan under which it is
issued, including without limitation provisions relating to vesting and
transferability.

    

    General

    

    1.           This
compensation program may be amended, modified or terminated by the board at any
time.

    

    2.           This
compensation program applies only to directors of Kirby who are not employees of
Kirby or any of its subsidiaries.

    

    3.           This
compensation program is effective January 22, 2007 and amends and restates in
its entirety the Nonemployee Director Compensation Program previously in
effect.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00141-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00141-of-00352.parquet"}]]