Balance Sheet filed with the United States Bankruptcy Court, District of Delaware, on June 20, 2008, Case No. 08-10289

EX-10.6 7 ex10_6.htm EXHIBIT 10.6 ex10_6.htm

Exhibit 10.6

In re	CHARYS HOLDING COMPANY, INC		Case No.	08-10289 (BLS)
	Debtor		Reporting Period:	May 1 through 31

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		3,880			80,522
Restricted Cash and Cash Equivalents (see continuation sheet)		5,391,593			5,391,593
Accounts Receivable (Net)		178,131,551			177,076,624
Notes Receivable
Inventories
Prepaid Expenses		38,363			59,773
Professional Retainers		589,301			569,301
Other Current Assets (attach schedule)		75,208			161,870
TOTAL CURRENT ASSETS		184,229,896			183,339,683
PROPERTY & EQUIPMENT
Real Property and Improvements
Machinery and Equipment
Furniture, Fixtures and Office Equipment		116,718			116,718
Leasehold Improvements
Vehicles
Less: Accumulated Depreciation		(45,690	)		(42,867	)
TOTAL PROPERTY & EQUIPMENT		71,028			73,851
OTHER ASSETS
Amounts due from Insiders*		86,638			86,638
Other Assets (attach schedule)		47,309,329			47,433,589
TOTAL OTHER ASSETS		47,395,967			47,520,227
TOTAL ASSETS		231,696,891			230,933,761

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		328,419			179,741
Taxes Payable (refer to FORM MOR-4)
Wages Payable
Notes Payable
Rent / Leases - Building/Equipment
Secured Debt / Adequate Protection Payments		243,414			173,545
Professional Fees		2,874,609			2,450,881
Amounts Due to Insiders*		15,466
Other Post-petition Liabilities (attach schedule)		13,819			124,351
TOTAL POST-PETITION LIABILITIES		3,475,727			2,928,518
LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)
Secured Debt
Priority Debt		293,063,959			293,063,959
Unsecured Debt		79,440,169			79,440,169
TOTAL PRE-PETITION LIABILITIES		372,504,128			372,504,128
TOTAL LIABILITIES		375,979,855			375,432,646
OWNERS' EQUITY
Capital Stock		58,953			58,953
Additional Paid-In Capital		345,724,500			345,724,500
Partners' Capital Account
Owner's Equity Account
Retained Earnings - Pre-Petition		(494,870,829	)		(494,870,829	)
Retained Earnings - Post-petition		4,804,412			4,588,491
Adjustments to Owner Equity (attach schedule)
Post-petition Contributions (attach schedule)
NET OWNERS’ EQUITY		(144,282,964	)		(144,498,885	)
TOTAL LIABILITIES AND OWNERS' EQUITY		231,696,891			230,933,761

** “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:	May 1 through 31

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
Other Current Assets
Travel Advances		56,830
Deposits		18,378
Other Assets
Investment in subsidiaries		47,309,329



LIABILITIES AND OWNER EQUITY	BOOK VALUE AT END OF CURRENT REPORTINGMONTH			BOOK VALUE ON PETITION DATE
Other Post-petition Liabilities
Misc accrued expenses		13,819


Other Post-petition Liabilities

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.