08-10290 (BLS)

EX-10.17 18 ex10_17.htm EXHIBIT 10.17 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.