SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): SEPTEMBER 30, 2002
SCIENT, INC.
(EXACT NAME OF REGISTRANT SPECIFIED IN CHARTER)
DELAWARE 333-68402 58-2643480
------------------------- ----------------------- ------------------
(STATE OF INCORPORATION) (COMMISSION FILE NUMBER) (IRS EMPLOYER
IDENTIFICATION NO.)
79 FIFTH AVENUE
NEW YORK, NEW YORK 10003
----------------------------------------- ------------------
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
(212) 500-4900
-------------------------------
(REGISTRANT'S TELEPHONE NUMBER)
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ITEM 5. OTHER EVENTS.
On September 30, 2002, in connection with the voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York, Case Nos. 02-13455 through 02-13458 (AJG), as filed by Scient, Inc. and certain of its subsidiaries (collectively "Scient"), Scient filed its Monthly Operating Statement for the period 7/16/02 to 7/26/02 and its Monthly Operating Statement for the period 7/27/02 to 8/30/02
ITEM 7. Exhibits.
(c) Exhibits:
99.1 Monthly Operating Statement for the period 7/16/02 to 7/26/02
99.2 Monthly Operating Statement for the period 7/27/02 to 8/30/02
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Scient, Inc.
By: /s/ Dave Wood
------------------------
Dave Wood
President
Dated: October 28, 2002
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Exhibit Index
99.1 Monthly Operating Statement for the period 7/16/02 to 7/26/02
99.2 Monthly Operating Statement for the period 7/27/02 to 8/30/02
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
-------------------------------------- x
:
In re: : Chapter 11
:
SCIENT, INC., et al., : Case Nos. 02-13455
: through 02-13458 (AJG)
Debtors. :
: (Jointly Administered)
-------------------------------------- x
REPORT PREPARER:
Gerard E. Dorsey
THIS OPERATING STATEMENT MUST BE SIGNED BY A REPRESENTATIVE OF THE DEBTOR
The undersigned, having reviewed the attached report and being familiar with the Debtors' financial affairs, verifies under the penalty of perjury, that the information contained therein is complete, accurate and truthful to the best of my knowledge.
DATE: 9/30/02 /s/ Gerard E. Dorsey
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SIGNATURE AND TITLE
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Indicate if this is an amended statement by checking here
AMENDED STATEMENT ___
SCIENT, INC.
CONSOLIDATED INCOME STATEMENT
STUB PERIOD - 7/16/02 - 7/26/02
7/16-7/26
---------
REVENUE 1,822
PS Unloaded Salary Cost 1,788
Salary Load (Taxes & Benefits) 372
Commissions (22)
Outside Contractors 63
Billable & Non-Billable T&E (PS&CS) 204
---------------------
COST OF REVENUE 2,404
---------------------
CONTRIBUTION MARGIN (582)
Contribution Margin as % of Revenue -31.9%
Professional Development 2
Recruiting 25
Office Rents 223
Telephone 192
Office Supplies 18
Facility/Equipment Expenses 207
Marketing & Promotion 68
Outside Service/Fees 398
Research 21
Other Operating Expenses 70
--------------------
OTHER SG&A COSTS 1,223
--------------------
TOTAL CORE SERVICES EXPENSE 1,223
--------------------
Core Services as % of Revenue 67.1%
EBITDA (EXCL. ONE TIME CHARGES) (1,805)
EBITDA as a % of Revenue -99.1%
Severance/Restructuring Costs 176
Reorganization Costs 354
Transaction Expense 555
Bonus Expense 4
---------------------
ONE TIME CHARGES 1,089
---------------------
EBITDA (2,894)
---------------------
EBITDA as a % of Revenue -158.8%
Interest Income/Expense (net) (437)
Depr/Amort Expense (635)
NET INCOME/(LOSS) (3,966)
=====================
Net Income/(Loss) as % of Revenue -217.6%
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Scient, Inc. Consolidated Balance Sheet
7/26/2002
---------
Assets
Current Assets
Cash and cash equivalents $ 1,946
Restricted cash 3,589
Accounts receivable net of allowance for doubtful accounts 12,076
Prepaid exp and other current assets 4,684
-------------
Total Current assets 22,295
Property and equipment, net 13,336
Intangible assets, net 33,158
Other non current assets 5,561
-------------
Total Assets $74,350
=============
Liabilities and stockholders equity
Liabilities subject to compromise
Current Liabilities
Accounts payable $ 9,972
Restructuring and severance obligations 5,635
Accrued expenses and other current liabilities 15,879
-------------
Total current liabilities 31,486
Restructuring obligations long term 3,692
Notes payable to affiliates -
Term note 8,775
Other long term liabilities 499
-------------
Total liabilities subject to compromise 44,452
Liabilities not subject to compromise
Current Liabilities
Accounts payable 1,072
Restructuring and severance obligations 320
Accrued expenses and other current liabilities 155
-------------
Total current liabilities 1,547
DIP Facility - SBI 2,101
-------------
Total liabilities not subject to compromise 3,649
Total liabilities 48,100
-------------
Stockholders equity:
Common Stock 19
Additional paid in capital 702,101
Note receivable from stockholders (1,821)
Deferred compensation (396)
Accumulated deficit (671,399)
Accumulated other comprehensive loss (1,186)
Treasury stock at cost (1,068)
-------------
Total stockholders equity 26,250
-------------
Total liabilities and stockholders equity $74,350
=============
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Scient Corp. Consolidated Balance Sheet SCIENT
07/26/02 CORPORATION IXL INC. ENTERPRISES VENTURES
USD USD USD USD
------------ ------------ ------------ ------------
ASSETS
CURRENT ASSETS
CASH
100100 Checking (old) -74,880.02 0.00 0.00 0.00
100160 Bank Account #1 -74,319.13 0.00 0.00 0.00
100170 Bank Account #2 0.00 0.00 0.00 0.00
100200 Payroll (old) -8,110.79 2,883.22 0.00 0.00
100300 Investment Account (old) 3,368.69 0.00 0.00 0.00
100500 Restricted Cash (old) 432,052.66 3,157,230.08 0.00 0.00
100600 MS Investment Account (old) 0.00 0.00 0.00 0.00
100700 Bank Account #3 764.67 0.05 0.00 0.00
100800 Bank Account #4 0.00 639.47 0.00 0.00
101100 Bank Account #5 0.00 96,512.50 0.00 0.00
101200 Bank Account #6 0.00 0.19 0.00 0.00
101300 Bank Account #7 -404,220.32 -103,420.01 0.00 1,400.00
101400 Bank Account #8 44,124.40 0.30 0.00 0.00
101500 Bank Account #9 2,489,686.48 0.00 0.00 0.00
101600 Payroll Account -1,547,223.16 0.00 0.00 0.00
103000 Bank Account #10 1,916.71 2,500.00 0.00 0.00
104000 Short Term Investments #1 0.00 0.00 78,680.09 0.00
------------- ------------ --------- ----------
TOTAL CASH 863,160.19 3,156,345.80 78,680.09 1,400.00
------------- ------------ --------- ----------
ACCOUNTS RECEIVABLE
110000 A/R consulting 15,238,640.41 1,244,599.15 0.00 -45,009.30
110200 Allowance for Revenue Reversal -3,410,990.52 0.00 0.00 0.00
110500 Allowance for Doubtful Account -7,108,230.15 -1,187,000.27 0.00 0.00
------------- ------------ --------- ----------
TOTAL AR 4,719,419.74 57,598.88 0.00 (45,009.30)
------------- ------------ --------- ----------
OTHER CURRENT ASSETS
Other Receivables
110400 Other Receivables 4,892,341.96 49,128.50 0.00 0.00
110600 Accrued Other Receivables 67,000.00 0.00 0.00 0.00
120000 Accrued Receivables 952,580.62 0.49 0.00 0.00
120300 Accounts Receivable - Deferred 74,949.96 0.00 0.00 0.00
130100 Intercompany Receivable Trade 0.00 0.00 0.00 0.00
131000 Interco Receivable 13,787,519.40 0.00 0.00 0.00
148000 Notes Receivable - Short Term 0.00 0.00 79,512.15 0.00
------------- ------------ --------- ----------
TOTAL OTHER AR 19,774,391.94 49,128.99 79,512.15 0.00
------------- ------------ --------- ----------
PREPAIDS
140000 Prepaid Expenses - Current 0.00 68,781.12 49,687.50 0.00
140500 Prepaid - Rent -0.01 -1,527.01 0.00 0.00
141000 Prepaid - Insurance 2,288,326.59 0.00 0.00 0.00
141100 Prepaid-Capital Leases 398,410.61 0.00 0.00 0.00
141500 Prepaid - Other 301,164.25 9,064.01 0.00 0.00
------------- ------------ --------- ----------
TOTAL PREPAIDS 2,987,901.44 76,318.12 49,687.50 0.00
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OTHER CURRENT ASSETS
142100 Input GST/VAT Recoverable 103,120.59 0.00 0.00 0.00
144000 Deposits 718,476.62 0.00 0.00 0.00
145000 Other Current Assets 0.00 -232,117.53 0.00 0.00
146000 Employee Advance 8,992.50 11,119.53 35,000.00 0.00
TOTAL OTHER CURRENT ASSETS 830,589.71 (220,998.00) 35,000.00 0.00
------------- ------------ --------- ----------
TOTAL CURRENT ASSETS 29,175,463.02 3,118,393.79 242,879.74 (43,609.30)
------------- ------------ --------- ----------
FIXED ASSETS
FIXED ASSETS
160000 Computer Equipment 13,556,795.49 6,430,786.37 49,321.94 6,884.89
161000 Office Equipment 209,827.34 0.00 0.00 0.00
162000 Furniture & Fixtures 2,352,596.15 2,033,826.69 13,082.49 0.00
163000 Computer Software 0.00 5,511,318.19 17,123.33 0.00
164000 Leasehold Improvements 19,997,051.30 5,063,485.55 0.00 0.00
165000 Capitalized Software Developmn 2,297,938.41 0.00 0.00 0.00
166000 Equipment Under Capital Leases 11,926,761.37 2,224,101.35 0.00 0.00
167000 Vehicles 0.00 16,487.87 0.00 0.00
167500 Fixed Assets Suspense 0.00 2,357,478.31 0.00 0.00
168000 Accumulated Depreciation -34,217,059.88 -16,240,798.19 -54,516.68 -8,817.82
168500 Accum Depreciation- Cap Leases -11,407,195.40 0.00 0.00 0.00
169000 Accumulated Amortization -2,392,833.53 0.00 0.00 0.00
------------- ------------ --------- ----------
TOTAL FIXED ASSETS 2,323,881.25 7,396,686.14 25,011.08 (1,932.93)
------------- ------------ --------- ----------
OTHER ASSETS
185000 Organizational Costs 728,764.11 1,317,866.58 641,336.16 3,636.00
185200 Deposits - Noncurrent 658,591.82 1,103,745.65 16,000.00 0.00
186400 Investment in Subsidiary 174,251.67 0.00 229,403,066.08 379,950.00
186500 Long Term Investments -542,846.55 0.00 0.00 0.00
186700 Other Noncurrent Assets 0.00 -0.35 163,320.25 0.00
186800 Goodwill 24,933,135.92 3,409,373.02 0.00 0.00
186801 Scient Goodwill 370,389.44 0.00 0.00 0.00
187000 Prepaid Expenses - Noncurrent 0.00 0.00 307,960,200.96 183,922.08
TOTAL OTHER ASSETS 26,322,286.41 5,830,984.90 538,183,923.45 567,508.08
------------- ------------ --------- ----------
TOTAL ASSETS 57,821,630.68 16,346,064.83 538,451,814.27 521,965.85
============= ============= ============== ==========
LIABILITIES & EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLES
200000 Accounts Payable 7,597,514.66 2,620,259.86 13,881.39 19,003.50
------------- ------------ --------- ----------
TOTAL ACCOUNTS PAYABLES 7,597,514.66 2,620,259.86 13,881.39 19,003.50
------------- ------------ --------- ----------
OTHER CURRENT LIABILITIES
ACCRUED LIABILITIES
210000 Accrued Payroll 0.00 0.00 0.00 0.00
210100 Expense Reports Payable 128,520.07 0.00 0.00 0.00
211000 Accrued Bonuses 1,302,854.46 150,000.35 0.00 0.00
211100 Accrued Commission -3,263.07 0.00 0.00 0.00
211200 Accrued Purchase Orders 5,495.90 0.00 0.00 0.00
211500 Accrued Liabilities-Other -857,928.64 153,544.86 333,413.17 -105.54
211501 Accrued Severance 1,000,000.00 0.00 0.00 0.00
211503 Accrued Insurance 0.00 -74,735.28 0.00 0.00
211504 Accrued Benefits 0.00 107,289.42 0.00 0.00
211505 Accrued Telecom 0.00 422,337.46 0.00 0.00
211525 Accrued Prof-Acctg 24,759.00 322,493.00 0.00 0.00
211526 Accrued Prof-Legal 808,467.21 -131,733.97 0.00 0.00
211527 Accrued Litigation Costs 1,406,086.09 0.00 0.00 0.00
211550 Accrued Taxes 2,415,322.10 180,176.97 0.00 0.00
211600 Accrued Rent 159,035.79 13,473.40 0.00 0.00
211700 Year End Accruals 507,300.26 0.00 0.00 0.00
212000 Section 125 flex spend plan 31,289.66 -16,622.33 0.00 0.00
213000 401 K Liabilities -108,545.99 56,220.14 0.00 0.00
214000 Employee Withholdings 211,369.68 25,759.30 -25,759.30 0.00
214500 ESPP Liability -43,648.95 0.00 4,549.00 0.00
214510 Garnishment Payable 592.87 0.00 0.00 0.00
214520 Commuter Check Payable 1,364.10 0.00 0.00 0.00
214530 Internal Parking Garage -421.21 0.00 0.00 0.00
214600 Hypo Tax 1,127,525.25 0.00 0.00 0.00
215000 Accrued Vacation Payable -169,776.17 0.00 0.00 0.00
216000 Accrued Restructuring Costs 4,152,973.30 2,609,427.13 0.00 0.00
------------- ------------ --------- ----------
TOTAL ACCRUED LIABILITIES 12,099,371.71 3,817,630.45 312,202.87 (105.54)
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DEFERRED REVENUE
220100 Deferred Revenue-Consulting 1,303,122.81 0.00 0.00 0.00
------------- ------------ --------- ----------
TOTAL DEFERRED REVENUE 1,303,122.81 0.00 0.00 0.00
------------- ------------ --------- ----------
OTHER CURRENT LABILITIES
230000 Output GST/VAT Payable 0.00 0.00 0.00 0.00
230100 Output GST/VAT WriteOff 0.00 0.00 0.00 0.00
230200 Output GST/VAT Miscellaneous 0.00 0.00 0.00 0.00
260000 Other Current Liabilities 81,224.92 393,833.61 0.00 0.00
261000 Capital Lease - Current 2,327,453.27 279,298.96 0.00 0.00
263100 Intercompany Payable Trade 0.00 16,019,323.58 0.00 13,156,955.85
264000 Interco Payable-Non Trade -33,717,190.75 280,529,486.15 304,096.66 -130,426,106.75
--------------- -------------- ---------- ----------------
TOTAL OTHER CURRENT LABILITIES (31,308,512.56) 297,221,942.30 304,096.66 (117,269,150.90)
--------------- -------------- ---------- ----------------
TOTAL OTHER CURRENT LIABILITIES (17,906,018.04) 301,039,572.75 616,299.53 (117,269,256.44)
--------------- -------------- ---------- ----------------
TOTAL CURRENT LIABILITIES (10,308,503.38) 303,659,832.61 630,180.92 (117,250,252.94)
--------------- -------------- ---------- ----------------
LONG TERM LIABILITIES
265000 Intercompany Note Payable 0.00 113,991,622.19 142,500.32 -372,799.01
270000 Notes Payable - LT 10,876,423.96 0.00 0.00 1.00
271500 Deposit Payable 52,400.01 445,270.31 0.00 0.00
272000 Capital Lease - Noncurrent 811,187.53 182,270.92 0.00 0.00
--------------- -------------- ---------- ----------------
TOTAL LONG TERM LIABILITIES 11,740,011.50 114,619,163.42 142,500.32 (372,798.01)
--------------- -------------- ---------- ----------------
TOTAL LONG TERM LIABILITIES 11,740,011.50 114,619,163.42 142,500.32 (372,798.01)
--------------- -------------- ---------- ----------------
TOTAL LIABILITIES 1,431,508.12 418,278,996.03 772,681.24 (117,623,050.95)
--------------- -------------- ---------- ----------------
EQUITY
PREFERRED STOCK
--------------- -------------- ---------- ----------------
TOTAL PREFERRED STOCK 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
COMMON STOCK
310100 APIC 3,767,000.00 6,000,000.00 630,741,282.04 0.00
310300 Par Value -1,876,015.00 81,429,028.91 975,111.18 132,845,785.22
310500 Stock Subscription Receivable 0.00 0.00 -1,820,500.00 0.00
311000 Unearned Compensation 75,000.00 0.00 -470,999.92 0.00
--------------- -------------- ---------- ----------------
TOTAL COMMON STOCK 1,965,985.00 87,429,028.91 629,424,893.30 132,845,785.22
--------------- -------------- ---------- ----------------
TREASURY STOCK
330000 Treasury Stock -179,985.00 0.00 -887,852.00 0.00
--------------- -------------- ---------- ----------------
TOTAL TREASURY STOCK (179,985.00) 0.00 (887,852.00) 0.00
--------------- -------------- ---------- ----------------
399800 Cumulative Translation Adj 7,768,070.60 0.00 -18,578.00 0.00
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CUMULATIVE TRANSLATION ADJ 7,768,070.60 0.00 (18,578.00) 0.00
--------------- -------------- ---------- ----------------
300300 Opening Bal Equity 0.00 -332,565,030.38 -85,086,656.80 -39,783,787.73
320000 Equity in Subsidiary 62,512,611.00 0.00 0.00 0.00
399900 Retained Earnings 549,096.65 -151,873,596.75 -5,797,859.10 14,609,922.56
--------------- -------------- ---------- ----------------
RETAINED EARNINGS 63,061,707.65 (484,438,627.13) (90,884,515.90) (25,173,865.17)
--------------- -------------- ---------- ----------------
340000 Accumulated Other Comprehensiv 0.00 0.00 38,680.09 0.00
--------------- -------------- ---------- ----------------
ACCUMULATED OTHER COMPREHENSIVE 0.00 0.00 38,680.09 0.00
--------------- -------------- ---------- ----------------
NET INCOME (16,225,655.69) (4,923,332.98) 6,505.54 10,473,096.75
--------------- -------------- ---------- ----------------
TOTAL EQUITY 56,390,122.56 (401,932,931.20) 537,679,133.03 118,145,016.80
--------------- -------------- ---------- ----------------
TOTAL LIABILITIES AND EQUITY 57,821,630.68 16,346,064.83 538,451,814.27 521,965.85
============== ============= ============== ===============
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(Table Continued)
SCIENT CORP. CONSOLIDATED BALANCE SHEET
Scient
International Scient UK Ltd. Scient France Scient HK Ltd.
USD USD USD USD
--------------- -------------- ---------- ----------------
Assets
Current Assets
Cash
100100 Checking (old) 0.00 0.00 0.00 153.85
100160 Bank Account #1 0.00 0.00 0.00 0.00
100170 Bank Account #2 843,390.62 0.01 0.00 0.00
100200 Payroll (old) 0.00 0.00 0.00 0.00
100300 Investment Account (old) 0.00 0.01 0.00 0.00
100500 Restricted Cash (old) 0.00 0.00 0.00 0.00
100600 MS Investment Account (old) 0.00 80,912.22 0.00 0.00
100700 Bank Account #3 -1,730.08 -337,605.39 0.00 27,496.05
100800 Bank Account #4 1,279,974.96 0.00 0.00 335.14
101100 Bank Account #5 0.00 0.00 0.00 0.00
101200 Bank Account #6 0.00 0.00 0.00 0.00
101300 BANK ACCOUNT #7 0.00 0.00 0.00 0.00
101400 Bank Account #8 0.00 0.00 0.00 0.00
101500 Bank Account #9 -1,109,547.18 0.00 0.00 0.00
101600 Payroll Account 0.00 0.00 0.00 0.00
103000 Bank Account #10 0.01 0.00 0.00 0.00
104000 Short Term Investments #1 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
TOTAL CASH 1,012,088.33 -256,693.15 0.00 27,985.04
--------------- -------------- ---------- ----------------
Accounts Receivable
110000 A/R consulting 53,495.61 1,241,074.67 0.00 0.00
110200 Allowance for Revenue Reversal 0.00 0.00 0.00 0.00
110500 Allowance for Doubtful Account 0.00 -192,826.96 0.00 0.00
--------------- -------------- ---------- ----------------
Total AR 53,495.61 1,048,247.71 0.00 0.00
--------------- -------------- ---------- ----------------
Other Current Assets
Other Receivables
110400 Other Receivables 0.00 0.00 0.00 0.00
110600 ACCRUED OTHER RECEIVABLES 0.00 0.00 0.00 0.00
120000 Accrued Receivables 0.00 15,510.78 0.00 0.00
120300 Accounts Receivable - Deferred 0.00 0.00 0.00 0.00
130100 Intercompany Receivable Trade 0.00 132,155.43 0.00 0.00
131000 Interco Receivable 0.00 -792,864.73 0.00 0.00
148000 Notes Receivable - Short Term 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Total Other AR 0.00 -645,198.52 0.00 0.00
--------------- -------------- ---------- ----------------
Prepaids
140000 Prepaid Expenses - Current 0.00 0.00 0.00 0.00
140500 Prepaid - Rent -0.01 150,458.76 0.00 0.00
141000 Prepaid - Insurance 11,121.53 72,977.22 0.00 0.00
141100 Prepaid-Capital Leases 0.00 0.00 0.00 0.00
141500 Prepaid - Other 0.00 63,219.65 0.00 0.00
--------------- -------------- ---------- ----------------
Total Prepaids 11,121.52 286,655.63 0.00 0.00
--------------- -------------- ---------- ----------------
Other Current Assets
142100 Input GST/VAT Recoverable 0.00 379,365.55 0.00 0.00
144000 Deposits 0.00 48,509.18 0.00 0.00
145000 Other Current Assets 0.00 0.00 0.00 0.00
146000 Employee Advance 0.00 12,747.17 0.00 0.00
Total Other Current Assets 0.00 440,621.90 0.00 0.00
--------------- -------------- ---------- ----------------
Total Current Assets 1,076,705.46 873,633.57 0.00 27,985.04
--------------- -------------- ---------- ----------------
Fixed Assets
Fixed Assets
160000 Computer Equipment 0.00 2,527,496.73 0.00 0.00
161000 Office Equipment -0.01 6,471.74 0.00 0.00
162000 Furniture & Fixtures 0.01 1,015,088.27 0.00 0.00
163000 Computer Software 0.00 224,265.33 0.00 0.00
164000 Leasehold Improvements 0.00 5,754,593.05 0.00 0.00
165000 Capitalized Software Developmn 0.00 0.00 0.00 0.00
166000 EQUIPMENT UNDER CAPITAL LEASES 0.00 67,796.95 0.00 0.00
167000 Vehicles 0.00 0.00 0.00 0.00
167500 Fixed Assets Suspense 0.00 0.00 0.00 0.00
168000 Accumulated Depreciation 0.00 -5,669,469.96 0.00 0.00
168500 Accum Depreciation- Cap Leases 0.00 0.00 0.00 0.00
169000 Accumulated Amortization 0.00 -349,827.78 0.00 0.00
--------------- -------------- ---------- ----------------
Total Fixed Assets 0.00 3,576,414.33 0.00 0.00
--------------- -------------- ---------- ----------------
Other Assets
185000 Organizational Costs 0.00 175,548.43 0.00 0.00
185200 Deposits - Noncurrent 0.00 237,558.72 0.00 0.00
186400 INVESTMENT IN SUBSIDIARY 14,361,265.52 0.00 0.00 0.00
186500 Long Term Investments 561,295.63 0.00 0.00 0.00
186700 Other Noncurrent Assets 0.00 0.00 0.00 0.00
186800 Goodwill 0.00 4,838,370.33 0.00 0.00
186801 Scient Goodwill 0.00 0.00 0.00 0.00
187000 Prepaid Expenses - Noncurrent 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Total Other Assets 14,922,561.15 5,251,477.48 0.00 0.00
--------------- -------------- ---------- ----------------
Total Assets 15,999,266.61 9,701,525.38 0.00 27,985.04
=============== ============== ========== ================
LIABILITIES & EQUITY
Current Liabilities
Accounts Payables
200000 Accounts Payable -1,272.00 674,350.98 0.00 641.03
--------------- -------------- ---------- ----------------
Total Accounts Payables -1,272.00 674,350.98 0.00 641.03
--------------- -------------- ---------- ----------------
Other Current Liabilities
Accrued Liabilities
210000 Accrued Payroll -0.01 222,610.33 0.00 0.00
210100 Expense Reports Payable 0.01 49,696.58 0.00 0.00
211000 Accrued Bonuses 0.00 0.01 0.00 0.00
211100 Accrued Commission 0.00 0.00 0.00 0.00
211200 Accrued Purchase Orders 0.00 0.00 0.00 0.00
211500 Accrued Liabilities-Other 0.00 405,696.48 0.00 0.00
211501 Accrued Severance 0.00 0.00 0.00 0.00
211503 Accrued Insurance 0.00 0.00 0.00 0.00
211504 Accrued Benefits 0.00 0.00 0.00 0.00
211505 Accrued Telecom 0.00 0.00 0.00 0.00
211525 Accrued Prof-Acctg 0.00 0.00 0.00 0.00
211526 Accrued Prof-Legal 0.00 0.00 0.00 0.00
211527 Accrued Litigation Costs 0.00 0.00 0.00 0.00
211550 Accrued Taxes 0.00 0.00 0.00 0.00
211600 Accrued Rent 0.00 0.01 0.00 0.00
211700 Year End Accruals 0.00 0.00 0.00 0.00
212000 Section 125 flex spend plan 0.00 0.00 0.00 0.00
213000 401 K Liabilities 0.00 50,111.91 0.00 0.00
214000 Employee Withholdings -0.01 1,081,798.87 0.00 0.00
214500 ESPP Liability -0.01 0.00 0.00 0.00
214510 GARNISHMENT PAYABLE 0.00 0.00 0.00 0.00
214520 Commuter Check Payable 0.00 0.00 0.00 0.00
214530 Internal Parking Garage 0.00 0.00 0.00 0.00
214600 Hypo Tax 0.00 0.00 0.00 0.00
215000 ACCRUED VACATION PAYABLE -0.01 0.00 0.00 0.00
216000 Accrued Restructuring Costs 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Total Accrued Liabilities -0.03 1,809,914.19 0.00 0.00
--------------- -------------- ---------- ----------------
Deferred Revenue
220100 Deferred Revenue-Consulting 329,156.42 660,499.33 0.00 0.00
--------------- -------------- ---------- ----------------
Total Deferred Revenue 329,156.42 660,499.33 0.00 0.00
--------------- -------------- ---------- ----------------
Other Current Labilities
230000 Output GST/VAT Payable 0.00 395,760.19 0.00 0.00
230100 OUTPUT GST/VAT WRITEOFF 0.00 -574.33 0.00 0.00
230200 Output GST/VAT Miscellaneous 0.00 0.01 0.00 0.00
260000 Other Current Liabilities 0.00 0.00 0.00 0.00
261000 Capital Lease - Current 0.00 0.00 0.00 0.00
263100 Intercompany Payable Trade -0.01 10,497,510.67 0.00 0.00
264000 Interco Payable-Non Trade 31,801,249.79 10,768,124.96 0.01 719,890.39
--------------- -------------- ---------- ----------------
Total Other Current Labilities 31,801,249.78 21,660,821.50 0.01 719,890.39
--------------- -------------- ---------- ----------------
Total Other Current Liabilities 32,130,406.17 24,131,235.02 0.01 719,890.39
--------------- -------------- ---------- ----------------
Total Current Liabilities 32,129,134.17 24,805,586.00 0.01 720,531.42
--------------- -------------- ---------- ----------------
Long Term Liabilities
265000 Intercompany Note Payable 0.00 -483,065.76 0.00 0.00
270000 Notes Payable - LT 0.00 0.00 0.00 0.00
271500 Deposit Payable 0.00 0.00 0.00 0.00
272000 Capital Lease - Noncurrent 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Total Long Term Liabilities 0.00 -483,065.76 0.00 0.00
--------------- -------------- ---------- ----------------
Total Long Term Liabilities 0.00 -483,065.76 0.00 0.00
--------------- -------------- ---------- ----------------
Total Liabilities 32,129,134.17 24,322,520.24 0.01 720,531.42
=============== ============== =========== ================
Equity
Preferred Stock
--------------- -------------- ---------- ----------------
Total Preferred Stock 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Common Stock
310100 APIC 0.00 0.00 0.00 0.00
310300 Par Value 0.00 13,991,416.20 0.00 0.00
310500 STOCK SUBSCRIPTION RECEIVABLE 0.00 0.00 0.00 0.00
311000 Unearned Compensation 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Total Common Stock 0.00 13,991,416.20 0.00 0.00
--------------- -------------- ---------- ----------------
Treasury Stock
330000 Treasury Stock 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Total Treasury Stock 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
399800 CUMULATIVE TRANSLATION ADJ -3,205,785.00 -715,298.86 846,888.63 -654,490.23
--------------- -------------- ---------- ----------------
CUMULATIVE TRANSLATION ADJ -3,205,785.00 -715,298.86 846,888.63 -654,490.23
--------------- -------------- ---------- ----------------
300300 OPENING BAL EQUITY 0.00 -20,180,519.72 0.00 0.00
320000 EQUITY IN SUBSIDIARY 0.00 0.00 0.00 0.00
399900 RETAINED EARNINGS -13,643,909.58 2,921,576.27 -846,888.64 -38,056.15
--------------- -------------- ---------- ----------------
Retained Earnings -13,643,909.58 -17,258,943.45 -846,888.64 -38,056.15
--------------- -------------- ---------- ----------------
340000 Accumulated Other Comprehensiv 0.00 -1,873,634.91 0.00 0.00
--------------- -------------- ---------- ----------------
Accumulated Other Comprehensive 0.00 -1,873,634.91 0.00 0.00
--------------- -------------- ---------- ----------------
Net Income 719,827.02 -8,764,533.84 0.00 0.00
--------------- -------------- ---------- ----------------
Total Equity -16,129,867.56 -14,620,994.86 -0.01 -692,546.38
--------------- -------------- ---------- ----------------
Total Liabilities and Equity 15,999,266.61 9,701,525.38 0.00 27,985.04
=============== ============== ========== ================
|
(Table Continued)
SCIENT CORP. CONSOLIDATED BALANCE SHEET
Scient Japan Scient Germany Scient Capital Singapore GW Amort
USD USD USD USD
--------------- -------------- ---------- ----------------
Assets
Current Assets
Cash
100100 Checking (old) 0.00 122,598.12 0.00 0.00
100160 Bank Account #1 0.00 24,600.41 0.00 0.00
100170 Bank Account #2 -0.01 0.00 0.00 0.00
100200 Payroll (old) 0.00 0.00 0.00 0.00
100300 Investment Account (old) 0.00 0.00 0.00 0.00
100500 Restricted Cash (old) 0.00 0.00 0.00 0.00
100600 MS Investment Account (old) 0.00 0.00 0.00 0.00
100700 Bank Account #3 0.00 0.00 0.00 0.00
100800 Bank Account #4 0.00 0.00 0.00 0.00
101100 Bank Account #5 0.00 0.00 0.00 0.00
101200 Bank Account #6 0.00 0.00 0.00 0.00
101300 Bank Account #7 0.00 0.00 0.00 0.00
101400 Bank Account #8 0.00 0.00 0.00 0.00
101500 BANK ACCOUNT #9 0.00 0.00 0.00 0.00
101600 Payroll Account 0.00 0.00 0.00 0.00
103000 Bank Account #10 0.00 0.00 0.00 0.00
104000 Short Term Investments #1 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Total Cash -0.01 147,198.53 0.00 0.00
--------------- -------------- ---------- ----------------
Accounts Receivable
110000 A/R consulting 0.00 0.00 0.00 0.00
110200 Allowance for Revenue Reversal 0.00 0.00 0.00 0.00
110500 Allowance for Doubtful Account 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Total AR 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Other Current Assets
Other Receivables
110400 Other Receivables -0.01 0.00 0.00 0.00
110600 Accrued Other Receivables 0.00 0.00 0.00 0.00
120000 Accrued Receivables 0.00 0.00 0.00 0.00
120300 ACCOUNTS RECEIVABLE - DEFERRED 0.00 0.00 0.00 0.00
130100 Intercompany Receivable Trade 0.00 0.00 0.00 0.00
131000 Interco Receivable 0.00 0.00 0.00 0.00
148000 Notes Receivable - Short Term 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Total Other AR -0.01 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Prepaids
140000 Prepaid Expenses - Current 0.00 0.00 0.00 0.00
140500 PREPAID - RENT -0.01 0.00 0.00 0.00
141000 Prepaid - Insurance 0.00 0.00 0.00 0.00
141100 Prepaid-Capital Leases 0.00 0.00 0.00 0.00
141500 Prepaid - Other 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Total Prepaids -0.01 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Other Current Assets
142100 INPUT GST/VAT RECOVERABLE -0.01 81.82 0.00 0.00
144000 Deposits 0.00 7,302.04 0.00 0.00
145000 Other Current Assets 0.00 0.00 0.00 0.00
146000 Employee Advance 0.00 0.00 0.00 0.00
Total Other Current Assets -0.01 7,383.86 0.00 0.00
--------------- -------------- ---------- ----------------
Total Current Assets -0.04 154,582.39 0.00 0.00
--------------- -------------- ---------- ----------------
Fixed Assets
Fixed Assets
160000 Computer Equipment 0.00 0.00 0.00 0.00
161000 Office Equipment 0.00 -0.01 0.00 0.00
162000 Furniture & Fixtures 0.00 0.00 0.00 0.00
163000 Computer Software 0.00 0.00 0.00 0.00
164000 Leasehold Improvements 0.00 0.00 0.00 0.00
165000 Capitalized Software Developmn 0.00 0.00 0.00 0.00
166000 Equipment Under Capital Leases 0.00 0.00 0.00 0.00
167000 Vehicles 0.00 0.00 0.00 0.00
167500 FIXED ASSETS SUSPENSE 0.00 0.00 0.00 0.00
168000 Accumulated Depreciation 0.00 0.00 0.00 0.00
168500 Accum Depreciation- Cap Leases 0.00 0.00 0.00 0.00
169000 Accumulated Amortization 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Total Fixed Assets 0.00 -0.01 0.00 0.00
--------------- -------------- ---------- ----------------
Other Assets
185000 Organizational Costs 0.00 0.00 0.00 0.00
185200 Deposits - Noncurrent 0.00 0.00 0.00 0.00
186400 Investment in Subsidiary 0.00 0.00 0.00 -14,017,700.00
186500 Long Term Investments 0.00 0.00 0.00 0.00
186700 OTHER NONCURRENT ASSETS 0.00 0.00 0.00 0.00
186800 Goodwill 0.00 0.00 0.00 0.00
186801 Scient Goodwill 0.00 0.00 0.00 0.00
187000 Prepaid Expenses - Noncurrent 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Total Other Assets 0.00 0.00 0.00 -14,017,700.00
--------------- -------------- ---------- ----------------
Total Assets -0.04 154,582.38 0.00 -14,017,700.00
=============== ============== ============ ================
Liabilities & Equity
Current Liabilities
Accounts Payables
200000 Accounts Payable 0.00 116,750.92 0.00 0.00
--------------- -------------- ---------- ----------------
Total Accounts Payables 0.00 116,750.92 0.00 0.00
--------------- -------------- ---------- ----------------
Other Current Liabilities
Accrued Liabilities
210000 Accrued Payroll 0.00 -0.01 0.00 0.00
210100 Expense Reports Payable 0.00 0.00 0.00 0.00
211000 Accrued Bonuses 0.00 0.00 0.00 0.00
211100 Accrued Commission 0.00 0.00 0.00 0.00
211200 Accrued Purchase Orders 0.00 0.00 0.00 0.00
211500 Accrued Liabilities-Other 0.00 10,646.90 0.00 0.00
211501 Accrued Severance 0.00 0.00 0.00 0.00
211503 Accrued Insurance 0.00 0.00 0.00 0.00
211504 Accrued Benefits 0.00 0.00 0.00 0.00
211505 Accrued Telecom 0.00 0.00 0.00 0.00
211525 Accrued Prof-Acctg 0.00 0.00 0.00 0.00
211526 Accrued Prof-Legal 0.00 0.00 0.00 0.00
211527 Accrued Litigation Costs 0.00 0.00 0.00 0.00
211550 Accrued Taxes 0.00 0.00 0.00 0.00
211600 Accrued Rent 0.00 0.00 0.00 0.00
211700 Year End Accruals 0.00 0.00 0.00 0.00
212000 Section 125 flex spend plan 0.00 0.00 0.00 0.00
213000 401 K Liabilities 0.00 0.00 0.00 0.00
214000 Employee Withholdings 0.01 0.00 0.00 0.00
214500 ESPP Liability 0.00 0.00 0.00 0.00
214510 Garnishment Payable 0.00 0.00 0.00 0.00
214520 Commuter Check Payable 0.00 0.00 0.00 0.00
214530 INTERNAL PARKING GARAGE 0.00 0.00 0.00 0.00
214600 Hypo Tax 0.00 0.00 0.00 0.00
215000 Accrued Vacation Payable 0.00 0.00 0.00 0.00
216000 Accrued Restructuring Costs 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
TOTAL ACCRUED LIABILITIES 0.01 10,646.89 0.00 0.00
--------------- -------------- ---------- ----------------
DEFERRED REVENUE
220100 Deferred Revenue-Consulting 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Total Deferred Revenue 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Other Current Labilities
230000 Output GST/VAT Payable 0.00 0.00 0.00 0.00
230100 Output GST/VAT WriteOff 0.00 0.00 0.00 0.00
230200 Output GST/VAT Miscellaneous 0.00 0.00 0.00 0.00
260000 OTHER CURRENT LIABILITIES 0.00 0.00 0.00 0.00
261000 Capital Lease - Current 0.00 0.00 0.00 0.00
263100 Intercompany Payable Trade 0.00 0.00 0.00 0.00
264000 Interco Payable-Non Trade -0.01 974,101.07 0.00 0.00
--------------- -------------- ---------- ----------------
Total Other Current Labilities -0.01 974,101.07 0.00 0.00
--------------- -------------- ---------- ----------------
Total Other Current Liabilities 0.00 984,747.96 0.00 0.00
--------------- -------------- ---------- ----------------
Total Current Liabilities 0.00 1,101,498.88 0.00 0.00
--------------- -------------- ---------- ----------------
Long Term Liabilities
265000 INTERCOMPANY NOTE PAYABLE 0.00 0.00 0.00 0.00
270000 Notes Payable - LT 0.00 0.00 0.00 0.00
271500 Deposit Payable 0.00 0.00 0.00 0.00
272000 Capital Lease - Noncurrent 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Total Long Term Liabilities 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
TOTAL LONG TERM LIABILITIES 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Total Liabilities 0.00 1,101,498.88 0.00 0.00
=============== =============== =========== ================
Equity
Preferred Stock
--------------- -------------- ---------- ----------------
Total Preferred Stock 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Common Stock
310100 APIC 0.00 0.00 0.00 0.00
310300 PAR VALUE 0.00 0.00 0.00 0.00
310500 Stock Subscription Receivable 0.00 0.00 0.00 0.00
311000 Unearned Compensation 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
TOTAL COMMON STOCK 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Treasury Stock
330000 TREASURY STOCK 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Total Treasury Stock 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
399800 Cumulative Translation Adj 450,693.07 -929,854.51 0.00 -4,666,664.00
--------------- -------------- ---------- ----------------
Cumulative Translation Adj 450,693.07 -929,854.51 0.00 -4,666,664.00
--------------- -------------- ---------- ----------------
300300 OPENING BAL EQUITY 0.00 0.00 0.00 0.00
320000 Equity in Subsidiary 0.00 0.00 0.00 0.00
399900 RETAINED EARNINGS -450,693.11 -17,061.99 0.00 -9,351,036.00
--------------- -------------- ---------- ----------------
RETAINED EARNINGS -450,693.11 -17,061.99 0.00 -9,351,036.00
--------------- -------------- ---------- ----------------
340000 Accumulated Other Comprehensiv 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Accumulated Other Comprehensive 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Net Income 0.00 0.00 0.00 0.00
--------------- -------------- ---------- ----------------
Total Equity -0.04 -946,916.50 0.00 -14,017,700.00
--------------- -------------- ---------- ----------------
Total Liabilities and Equity -0.04 154,582.38 0.00 -14,017,700.00
=============== ============== =========== ================
|
(Table Continued)
SCIENT CORP. CONSOLIDATED BALANCE SHEET
IXL ITALIA IXL INTERNATIONAL Adj. to be recorded
USD USD Scient International
--------------- -------------- ---------------------
Assets
Current Assets
Cash
100100 Checking (old) 0.00 98,187.00
100160 Bank Account #1 -444.79 0.00
100170 Bank Account #2 0.00 0.00 -135,002.96
100200 Payroll (old) 0.00 0.00
100300 Investment Account (old) 0.00 0.00
100500 Restricted Cash (old) 0.00 0.00
100600 MS Investment Account (old) 0.00 0.00
100700 Bank Account #3 0.00 0.00
100800 Bank Account #4 0.00 0.00 -1,309,552.88
101100 Bank Account #5 0.00 0.00
101200 Bank Account #6 0.00 0.00
101300 Bank Account #7 131,193.40 0.00
101400 Bank Account #8 0.00 0.00
101500 Bank Account #9 0.00 0.00 1,720,285.96
101600 Payroll Account 0.00 0.00
103000 Bank Account #10 0.00 0.00
104000 Short Term Investments #1 0.00 0.00
--------------- -------------- ---------------------
Total Cash 130,748.61 98,187.00 275,730.12
--------------- -------------- ---------------------
Accounts Receivable
110000 A/R consulting 336,630.50 27,167.00 -20,629.65
110200 Allowance for Revenue Reversal 0.00 0.00
110500 Allowance for Doubtful Account -152,282.91 0.00
--------------- -------------- ---------------------
Total AR 184,347.59 27,167.00 -20,629.65
--------------- -------------- ---------------------
Other Current Assets
OTHER RECEIVABLES
110400 Other Receivables 0.00 0.00
110600 Accrued Other Receivables 0.00 0.00
120000 Accrued Receivables 0.00 0.00
120300 Accounts Receivable - Deferred 0.00 0.00
130100 Intercompany Receivable Trade 0.00 0.00
131000 Interco Receivable 0.00 0.00
148000 Notes Receivable - Short Term 0.00 0.00
--------------- -------------- ---------------------
Total Other AR 0.00 0.00 0.00
--------------- -------------- ---------------------
Prepaids
140000 Prepaid Expenses - Current 0.00 0.00
140500 Prepaid - Rent 251.82 99,581.00
141000 Prepaid - Insurance 0.00 0.00
141100 Prepaid-Capital Leases 0.00 0.00
141500 Prepaid - Other 0.00 0.00
--------------- -------------- ---------------------
Total Prepaids 251.82 99,581.00 0.00
--------------- -------------- ---------------------
Other Current Assets
142100 Input GST/VAT Recoverable 0.00 0.00
144000 Deposits 0.00 0.00
145000 Other Current Assets 0.00 0.00
146000 Employee Advance 0.00 0.00
Total Other Current Assets 0.00 0.00 0.00
--------------- -------------- ---------------------
Total Current Assets 315,348.02 224,935.00 255,100.47
--------------- -------------- ---------------------
Fixed Assets
Fixed Assets
160000 Computer Equipment 0.00 21,689.16
161000 Office Equipment 0.00 0.00
162000 Furniture & Fixtures 0.00 0.00
163000 Computer Software 0.00 0.00
164000 Leasehold Improvements 0.00 0.00
165000 Capitalized Software Developmn 0.00 0.00
166000 Equipment Under Capital Leases 0.00 0.00
167000 Vehicles 0.00 0.00
167500 Fixed Assets Suspense 0.00 0.00
168000 Accumulated Depreciation 0.00 -5,721.16
168500 Accum Depreciation- Cap Leases 0.00 0.00
169000 Accumulated Amortization 0.00 0.00
--------------- -------------- ---------------------
Total Fixed Assets 0.00 15,968.00
--------------- -------------- ---------------------
Other Assets
185000 Organizational Costs 0.00 0.00
185200 Deposits - Noncurrent 2,672.15 0.00
186400 Investment in Subsidiary 0.00 -2,871.00
186500 Long Term Investments 0.00 0.00
186700 Other Noncurrent Assets 0.00 0.00
186800 Goodwill 0.00 0.00
186801 Scient Goodwill 0.00 0.00
187000 Prepaid Expenses - Noncurrent 0.00 0.00
--------------- -------------- ---------------------
Total Other Assets 2,672.15 (2,871.00)
--------------- -------------- ---------------------
Total Assets 318,020.17 238,032.00
--------------- -------------- ---------------------
Liabilities & Equity
Current Liabilities
Accounts Payables
200000 Accounts Payable -4.22 2,797.00
--------------- -------------- ---------------------
Total Accounts Payables (4.22) 2,797.00
--------------- -------------- ---------------------
Other Current Liabilities
Accrued Liabilities
210000 Accrued Payroll 0.00 0.00
210100 Expense Reports Payable 0.00 0.00
211000 Accrued Bonuses 0.00 0.00
211100 Accrued Commission 0.00 0.00
211200 Accrued Purchase Orders 0.00 0.00
211500 Accrued Liabilities-Other 117,084.81 279,993.00
211501 Accrued Severance 0.00 0.00
211503 Accrued Insurance 0.00 0.00
211504 Accrued Benefits 0.00 0.00
211505 Accrued Telecom 0.00 0.00
211525 Accrued Prof-Acctg 0.00 0.00
211526 Accrued Prof-Legal 0.00 0.00
211527 Accrued Litigation Costs 0.00 0.00
211550 Accrued Taxes 0.00 0.00
211600 Accrued Rent 3,350.38 0.00
211700 Year End Accruals 0.00 0.00
212000 Section 125 flex spend plan 0.00 0.00
213000 401 K Liabilities 0.00 0.00
214000 Employee Withholdings 0.00 0.00
214500 ESPP Liability 0.00 0.00
214510 Garnishment Payable 0.00 0.00
214520 Commuter Check Payable 0.00 0.00
214530 Internal Parking Garage 0.00 0.00
214600 Hypo Tax 0.00 0.00
215000 Accrued Vacation Payable 0.00 0.00
216000 Accrued Restructuring Costs 0.00 0.00
--------------- -------------- ---------------------
Total Accrued Liabilities 120,435.19 279,993.00
--------------- -------------- ---------------------
Deferred Revenue
220100 Deferred Revenue-Consulting 0.00 0.00 305,386.23
--------------- -------------- ---------------------
Total Deferred Revenue 0.00 0.00 305,386.23
--------------- -------------- ---------------------
Other Current Labilities
230000 Output GST/VAT Payable 71,665.80 0.00
230100 Output GST/VAT WriteOff 0.00 0.00
230200 Output GST/VAT Miscellaneous 0.00 0.00
260000 Other Current Liabilities 0.00 0.00
261000 Capital Lease - Current 0.00 0.00
263100 Intercompany Payable Trade 0.00 0.00
264000 Interco Payable-Non Trade 0.00 11,110,524.00 -50,285.76
--------------- -------------- ---------------------
Total Other Current Labilities 71,665.80 11,110,524.00 -50,285.76
--------------- -------------- ---------------------
Total Other Current Liabilities 192,100.99 11,390,517.00
--------------- -------------- ---------------------
Total Current Liabilities 192,096.77 11,393,314.00 255,100.47
--------------- -------------- ---------------------
Long Term Liabilities
265000 Intercompany Note Payable -318,497.42 0.00
270000 Notes Payable - LT 0.00 0.00
271500 Deposit Payable 0.00 0.00
272000 Capital Lease - Noncurrent 0.00 0.00
--------------- -------------- ---------------------
Total Long Term Liabilities (318,497.42) 0.00
--------------- -------------- ---------------------
Total Long Term Liabilities (318,497.42) 0.00
--------------- -------------- ---------------------
Total Liabilities (126,400.65) 11,393,314.00 255,100.47
=============== ============== =====================
Equity
Preferred Stock
--------------- -------------- ---------------------
Total Preferred Stock 0.00 0.00
--------------- -------------- ---------------------
Common Stock
310100 APIC 0.00 0.00
310300 Par Value 0.00 195,000.00
310500 Stock Subscription Receivable 0.00 0.00
311000 Unearned Compensation 0.00 0.00
--------------- -------------- ---------------------
Total Common Stock 0.00 195,000.00
--------------- -------------- ---------------------
Treasury Stock
330000 Treasury Stock 0.00 0.00
--------------- -------------- ---------------------
Total Treasury Stock 0.00 0.00
--------------- -------------- ---------------------
399800 Cumulative Translation Adj 69,635.83 0.00
--------------- -------------- ---------------------
Cumulative Translation Adj 69,635.83 0.00
--------------- -------------- ---------------------
300300 Opening Bal Equity 0.00 0.00
320000 Equity in Subsidiary 0.00 0.00
399900 Retained Earnings 455,459.00 -11,505,282.00
--------------- -------------- ---------------------
Retained Earnings 455,459.00 (11,505,282.00)
--------------- -------------- ---------------------
340000 Accumulated Other Comprehensiv 0.00 155,000.00
--------------- -------------- ---------------------
Accumulated Other Comprehensive 0.00 155,000.00
--------------- -------------- ---------------------
Net Income (80,674.01) 0.00
--------------- -------------- ---------------------
Total Equity 444,420.82 (11,155,282.00)
--------------- -------------- ---------------------
Total Liabilities and Equity 318,020.17 238,032.00 255,100.47
=============== ============== =====================
|
(Table Continued)
SCIENT CORP. CONSOLIDATED BALANCE SHEET
ELIMINATIONS TOTAL OF ALL BU'S
USD USD
-------------- ---------------------
Assets
Current Assets
Cash
100100 Checking (old) 146,058.95
100160 Bank Account #1 -50,163.51
100170 Bank Account #2 708,387.66
100200 Payroll (old) -5,227.57
100300 Investment Account (old) 3,368.70
100500 Restricted Cash (old) 3,589,282.74
100600 MS Investment Account (old) 80,912.22
100700 Bank Account #3 -311,074.70
100800 Bank Account #4 -28,603.31
101100 Bank Account #5 96,512.50
101200 Bank Account #6 0.19
101300 Bank Account #7 -375,046.93
101400 Bank Account #8 44,124.70
101500 Bank Account #9 3,100,425.26
101600 Payroll Account -1,547,223.16
103000 Bank Account #10 4,416.72
104000 Short Term Investments #1 78,680.09
-------------- ---------------------
Total Cash 5,534,830.55
-------------- ---------------------
Accounts Receivable
110000 A/R consulting 18,075,968.39
110200 Allowance for Revenue Reversal -3,410,990.52
110500 Allowance for Doubtful Account -8,640,340.29
-------------- ---------------------
Total AR 6,024,637.58
-------------- ---------------------
Other Current Assets
OTHER RECEIVABLES
110400 Other Receivables 4,941,470.45
110600 Accrued Other Receivables 67,000.00
120000 Accrued Receivables 968,091.89
120300 Accounts Receivable - Deferred 74,949.96
130100 Intercompany Receivable Trade -132,155.43 0.00
131000 Interco Receivable -12,994,654.67 0.00
148000 Notes Receivable - Short Term 79,512.15
----------------- ---------------------
Total Other AR (13,126,810.10) 6,131,024.45
----------------- ---------------------
Prepaids
140000 Prepaid Expenses - Current 118,468.62
140500 Prepaid - Rent 248,764.54
141000 Prepaid - Insurance 2,372,425.34
141100 Prepaid-Capital Leases 398,410.61
141500 Prepaid - Other 373,447.91
----------------- ---------------------
Total Prepaids 3,511,517.02
----------------- ---------------------
Other Current Assets
142100 Input GST/VAT Recoverable 482,567.95
144000 Deposits 774,287.84
145000 Other Current Assets -232,117.53
146000 Employee Advance 67,859.20
Total Other Current Assets 1,092,597.46
----------------- ---------------------
Total Current Assets (13,126,810.10) 22,294,607.06
----------------- ---------------------
Fixed Assets
Fixed Assets
160000 Computer Equipment 22,592,974.58
161000 Office Equipment 216,299.06
162000 Furniture & Fixtures 5,414,593.61
163000 Computer Software 5,752,706.85
164000 Leasehold Improvements 30,815,129.90
165000 Capitalized Software Developmn 2,297,938.41
166000 Equipment Under Capital Leases 14,218,659.67
167000 Vehicles 16,487.87
167500 Fixed Assets Suspense 2,357,478.31
168000 Accumulated Depreciation -56,196,383.69
168500 Accum Depreciation- Cap Leases -11,407,195.40
169000 Accumulated Amortization -2,742,661.31
----------------- ---------------------
Total Fixed Assets 13,336,027.86
----------------- ---------------------
Other Assets
185000 Organizational Costs 2,867,151.28
185200 Deposits - Noncurrent 2,018,568.34
186400 Investment in Subsidiary -229,785,775.89 512,186.38
186500 Long Term Investments -18,449.08 0.00
186700 Other Noncurrent Assets 163,319.90
186800 Goodwill -393,093.00 32,787,786.27
186801 Scient Goodwill 370,389.44
187000 Prepaid Expenses - Noncurrent -308,144,123.04 0.00
Total Other Assets (538,341,441.01) 38,719,401.61
----------------- ---------------------
Total Assets (551,468,251.11) 74,350,036.53
----------------- ---------------------
Liabilities & Equity
Current Liabilities
Accounts Payables
200000 Accounts Payable 11,043,923.12
----------------- ---------------------
Total Accounts Payables 11,043,923.12
----------------- ---------------------
Other Current Liabilities
Accrued Liabilities
210000 Accrued Payroll 222,610.31
210100 Expense Reports Payable 178,216.66
211000 Accrued Bonuses 1,452,854.82
211100 Accrued Commission -3,263.07
211200 Accrued Purchase Orders 5,495.90
211500 Accrued Liabilities-Other -393,093.00 49,252.04
211501 Accrued Severance 1,000,000.00
211503 Accrued Insurance -74,735.28
211504 Accrued Benefits 107,289.42
211505 Accrued Telecom 422,337.46
211525 Accrued Prof-Acctg 347,252.00
211526 Accrued Prof-Legal 676,733.24
211527 Accrued Litigation Costs 1,406,086.09
211550 Accrued Taxes 2,595,499.07
211600 Accrued Rent 175,859.58
211700 Year End Accruals 507,300.26
212000 Section 125 flex spend plan 14,667.33
213000 401 K Liabilities -2,213.94
214000 Employee Withholdings 1,293,168.55
214500 ESPP Liability -39,099.96
214510 Garnishment Payable 592.87
214520 Commuter Check Payable 1,364.10
214530 Internal Parking Garage -421.21
214600 Hypo Tax 1,127,525.25
215000 Accrued Vacation Payable -169,776.18
216000 Accrued Restructuring Costs 484,484.00 7,246,884.43
----------------- ---------------------
Total Accrued Liabilities 91,391.00 18,541,479.74
----------------- ---------------------
Deferred Revenue
220100 Deferred Revenue-Consulting 2,598,164.79
----------------- ---------------------
Total Deferred Revenue 2,598,164.79
----------------- ---------------------
Other Current Labilities
230000 Output GST/VAT Payable 467,425.99
230100 Output GST/VAT WriteOff -574.33
230200 Output GST/VAT Miscellaneous 0.01
260000 Other Current Liabilities 475,058.53
261000 Capital Lease - Current 2,606,752.23
263100 Intercompany Payable Trade -39,673,790.09 0.00
264000 Interco Payable-Non Trade -172,013,889.76 0.00
----------------- ---------------------
Total Other Current Labilities (211,687,679.85) 3,548,662.43
----------------- ---------------------
Total Other Current Liabilities (211,596,288.85) 24,688,306.96
----------------- ---------------------
Total Current Liabilities (211,596,288.85) 35,732,230.08
================= =====================
Long Term Liabilities
265000 Intercompany Note Payable -112,959,760.32 0.00
270000 Notes Payable - LT 10,876,424.96
271500 Deposit Payable 497,670.32
272000 Capital Lease - Noncurrent 993,458.45
----------------- ---------------------
Total Long Term Liabilities (112,959,760.32) 12,367,553.73
----------------- ---------------------
Total Long Term Liabilities (112,959,760.32) 12,367,553.73
----------------- ---------------------
Total Liabilities (324,556,049.17) 48,099,783.81
================= =====================
Equity
Preferred Stock
----------------- ---------------------
Total Preferred Stock 0.00
----------------- ---------------------
Common Stock
310100 APIC 61,592,717.96 702,101,000.00
310300 Par Value -227,541,341.51 18,985.00
310500 Stock Subscription Receivable -1,820,500.00
311000 Unearned Compensation -395,999.92
----------------- ---------------------
Total Common Stock (165,948,623.55) 699,903,485.08
----------------- ---------------------
Treasury Stock
330000 Treasury Stock -1,067,837.00
----------------- ---------------------
Total Treasury Stock (1,067,837.00)
----------------- ---------------------
399800 Cumulative Translation Adj 1,092,913.70 37,531.23
Cumulative Translation Adj 1,092,913.70 37,531.23
300300 Opening Bal Equity -477,615,994.63
320000 Equity in Subsidiary -62,512,611.00 0.00
399900 Retained Earnings -174,988,328.84
Retained Earnings (62,512,611.00) (652,604,323.47)
340000 Accumulated Other Comprehensiv 456,118.91 -1,223,835.91
Accumulated Other Comprehensive 456,118.91 (1,223,835.91)
Net Income 0.00 (18,794,767.21)
----------------- ---------------------
Total Equity (226,912,201.94) 26,250,252.72
----------------- ---------------------
Total Liabilities and Equity (551,468,251.11) 74,350,036.53
================ ======================
|
Scient, Inc.
Consolidated Cash Flow Statement
Seven Months Ended
26-Jul-02
--------------------
NET LOSS $ (18,794)
Adjustments to reconcile
net loss to net cash used in operations
Depreciation and amortization 7,539
Prov for Doubtful Accounts (14,170)
Accretion of disct on L/T Debt 299
Stock based on comp and other exp 75
ADJT of value of note payable to affiliate (6,431)
Changes in Assets and Liab
(Increase) decrease in Accounts receivable 16,608
(Increase) decrease in PPD EXP and Other Assets (1,554)
Increase (decrease) in ACCTS PYBL, Accrued exp and others/t liab (12,036)
Increase (decrease) in Restruc and sev oblig (37,329)
Increase (decrease) in Other L/T liab (1,998)
-------------------
Net cash used in operating activities (67,791)
Cash flows from investing activities:
Changes in Restricted cash 37,636
Proceeds from the sale of equipment 261
-------------------
Net cash provided by investing activities 37,897
Cash flows from financing activities.
Principal payments under capital leases (677)
Borrowings under term note net of assoc fees of 326 8,449
Borrowings under DIP Facility 2,101
Repurchase of Restricted stock (180)
-------------------
Net cash provided by financing activities: 9,693
Effect of exchange rate changes on cash and cash equiv. 1,234
Net decrease in cash and cash equiv. (18,967)
Cash and cash equiv at beg of period 20,913
-------------------
Cash and cash equiv at end of period $ 1,946
===================
DIFF
|
SCIENT, INC.
GROSS PAYROLL AND TAXES DURING BANKRUPTCY FROM 7/17 - PRESENT
PAYDATE GROSS PAYROLL FEDERAL STATE EE SOCIAL SECURITY ER SOCIAL SECURITY
-------------------------------------------------------------------------------------------------
7/31/2002 Total $ 1,338,864.70 $ 279,188.09 $ 59,508.68 $ 45,404.29 $ 45,404.29
8/15/2002 Total 1,253,791.11 264,381.95 57,040.62 36,785.08 36,785.08
8/30/2002 Total 1,178,658.60 248,602.91 53,468.51 32,191.84 32,191.84
9/6/2002 Total 6,875.00 1,578.65 412.65 -- --
9/13/2002 Total 1,115,426.01 236,196.44 50,429.85 26,702.60 26,702.60
9/19/2002 Total 3,333.34 741.89 191.88 206.66 206.66
9/30/2002 Regular Payroll Total 1,196,353.50 -- -- 22,447.69 22,447.69
9/30/2002 Severance & Bonus Total 446,547.92 -- -- 11,787.35 11,787.35
-------------
GRAND TOTAL $ 6,539,850.18 $1,030,689.93 $221,052.19 $175,525.51 $175,525.51
=============
(Table Continued)
PAYDATE EE MEDICARE ER MEDICARE LOCAL SUI/SDI TOTAL
-------------------------------------------------------------------------------------------------
7/31/2002 Total $ 19,197.02 $ 19,197.02 $ 13,474.90 $ 154.70 $1,820,393.69
8/15/2002 Total 17,960.69 17,960.69 13,141.13 149.50 1,697,995.85
8/30/2002 Total 16,891.27 16,891.27 13,133.25 151.86 1,592,181.35
9/6/2002 Total 97.39 97.39 - - 9,061.08
9/13/2002 Total 15,984.41 15,984.41 11,986.06 137.80 1,499,550.18
9/19/2002 Total 48.33 48.33 112.53 1.30 4,890.92
9/30/2002 Regular Payroll Total 17,170.66 17,170.66 - 45.21 1,275,635.41
9/30/2002 Severance & Bonus Total 6,482.67 6,482.67 - - 483,087.96
-------------------------------------------------------------------------------------------------
Grand Total $ 93,832.44 $ 93,832.44 $ 51,847.87 $ 640.37 $8,382,796.44
=================================================================================================
|
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
-------------------------------------- x
:
In re: : Chapter 11
:
SCIENT, INC., et al., : Case Nos. 02-13455
: through 02-13458 (AJG)
Debtors. :
: (Jointly Administered)
-------------------------------------- x
REPORT PREPARER:
Gerard E. Dorsey
THIS OPERATING STATEMENT MUST BE SIGNED BY A REPRESENTATIVE OF THE DEBTOR
The undersigned, having reviewed the attached report and being familiar with the Debtors' financial affairs, verifies under the penalty of perjury, that the information contained therein is complete, accurate and truthful to the best of my knowledge.
DATE: 9/30/02 /s/ Gerard E. Dorsey
------------- ---------------------------------
SIGNATURE AND TITLE
|
Indicate if this is an amended statement by checking here
AMENDED STATEMENT ___
REVENUE 3,213
PS Unloaded Salary Cost 3,152
Salary Load (Taxes & Benefits) 333
Commissions (55)
Outside Contractors 16
Billable & Non-Billable T&E (PS&CS) 236
---------------------
COST OF REVENUE 3,681
---------------------
CONTRIBUTION MARGIN (468)
Contribution Margin as % of Revenue -14.6%
Professional Development 2
Recruiting (12)
Office Rents 465
Telephone 484
Office Supplies 25
Facility/Equipment Expenses 206
Marketing & Promotion (47)
Outside Service/Fees 199
Research 21
Other Operating Expenses 244
---------------------
OTHER SG&A COSTS 1,587
---------------------
TOTAL CORE SERVICES EXPENSE 1,587
---------------------
Core Services as % of Revenue 49.4%
EBITDA (EXCL. ONE TIME CHARGES) (2,055)
EBITDA as a % of Revenue -64.0%
Severance/Restructuring Costs 505
Transaction Expense 165
Bonus Expense 0
--------------------
ONE TIME CHARGES 670
--------------------
EBITDA (2,725)
--------------------
EBITDA as a % of Revenue -84.8%
Interest Income/Expense (net) (21)
Depr/Amort Expense (964)
NET INCOME/(LOSS) (3,709)
====================
Net Income/(Loss) as % of Revenue -115.4%
|
SCIENT, INC. CONSOLIDATED BALANCE SHEET
8/30 VS 7/26
8/30/2002 7/26/2002 VARIANCE
--------- --------- --------
ASSETS
Current Assets
Cash and cash equivalents $ 3,618 $ 1,946 $ 1,673
Restricted cash 3,589 3,589 -
Accounts receivable net of allowance for doubtful accounts 9,667 12,076 (2,409)
Prepaid exp and other current assets 4,476 4,684 (208)
---------------- ------------- ---------------
Total Current assets 21,351 22,295 (944)
Property and equipment, net 12,360 13,336 (976)
Intangible assets, net 33,082 33,158 (76)
Other non current assets 5,613 5,561 52
---------------- ------------- ---------------
Total Assets $ 72,406 $ 74,350 $ (1,944)
================ ============= ===============
LIABILITIES AND STOCKHOLDERS EQUITY
Liabilities subject to compromise
Current Liabilities
Accounts payable $ 9,011 $ 9,972 (961)
Restructuring and severance obligations 5,635 5,635 -
Accrued expenses and other current liabilities 16,358 15,879 479
---------------- ------------- ---------------
Total current liabilities 31,004 31,486 (482)
Restructuring obligations long term 3,692 3,692 -
Notes payable to affiliates - - -
Term note 8,775 8,775 -
Other long term liabilities 499 499 -
---------------- ------------- ---------------
Total liabilities subject to compromise 43,970 44,452 (482)
Liabilities not subject to compromise
Current Liabilities
Accounts payable 2,599 1,072 1,527
Restructuring and severance obligations 169 320 (151)
Accrued expenses and other current liabilities 95 155 (60)
---------------- ------------- ---------------
Total current liabilities 2,863 1,547 1,316
DIP Facility - SBI 2,825 2,101 724
---------------- ------------- ---------------
Total liabilities not subject to compromise 5,688 3,649 2,040
Total liabilities 49,658 48,100 1,558
---------------- ------------- ---------------
Stockholders equity:
Common Stock 19 19 -
Additional paid in capital 702,101 702,101 -
Note receivable from stockholders (1,821) (1,821) -
Deferred compensation (396) (396) -
Accumulated deficit (675,108) (671,399) (3,709)
Accumulated other comprehensive loss (980) (1,186) 207
Treasury stock at cost (1,068) (1,068) -
---------------- ------------- ---------------
Total stockholders equity 22,748 26,250 (3,502)
---------------- ------------- ---------------
Total liabilities and stockholders equity $ 72,406 $ 74,350 $ (1,944)
================ ============= ===============
|
SCIENT CORP. CONSOLIDATED BALANCE SHEET
08/30/02 SCIENT CORPORATION IXL INC. ENTERPRISES VENTURES
------------------ -------------- -------------- --------------
USD USD USD USD
------------------ -------------- -------------- --------------
ASSETS
CURRENT ASSETS
CASH
100100 Checking (old) -74,880.02 0.00 0.00 0.00
100160 Bank Account #1 102,818.35 0.00 0.00 0.00
100170 Bank Account #2 0.00 0.00 0.00 0.00
100200 Payroll (old) -8,110.79 2,883.22 0.00 0.00
100300 Investment Account (old) 118,607.66 0.00 0.00 0.00
100500 Restricted Cash (old) 432,052.66 3,157,230.08 0.00 0.00
100600 MS Investment Account (old) 0.00 0.00 0.00 0.00
100700 Bank Account #3 463.62 0.05 0.00 0.00
100800 Bank Account #4 0.00 639.47 0.00 0.00
101100 Bank Account #5 0.00 96,512.50 0.00 0.00
101200 Bank Account #6 0.00 0.19 0.00 0.00
101300 Bank Account #7 -220,989.61 -103,420.01 0.00 1,400.00
101400 Bank Account #8 320,462.75 10,649.75 0.00 0.00
101500 Bank Account #9 1,350,149.14 0.00 0.00 0.00
101600 Payroll Account -234,315.10 0.00 0.00 0.00
103000 Bank Account #10 1,916.71 2,500.00 0.00 0.00
104000 Short Term Investments #1 0.00 0.00 78,680.09 0.00
-------------- -------------- -------------- --------------
TOTAL CASH 1,788,175.37 3,166,995.25 78,680.09 1,400.00
-------------- -------------- -------------- --------------
ACCOUNTS RECEIVABLE
110000 A/R consulting 11,871,690.33 1,121,869.65 0.00 -45,009.30
110200 Allowance for Revenue Reversal -3,410,990.52 0.00 0.00 0.00
110500 Allowance for Doubtful Account -6,689,098.00 -1,187,000.27 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL AR 1,771,601.81 (65,130.62) 0.00 (45,009.30)
-------------- -------------- -------------- --------------
OTHER CURRENT ASSETS
OTHER RECEIVABLES
110400 Other Receivables 4,892,341.96 49,128.50 0.00 0.00
110600 Accrued Other Receivables 67,000.00 0.00 0.00 0.00
120000 Accrued Receivables 1,406,459.77 0.49 0.00 0.00
120300 Accounts Receivable - Deferred 74,949.96 0.00 0.00 0.00
130100 Intercompany Receivable Trade 0.00 0.00 0.00 0.00
131000 Interco Receivable 14,013,746.01 0.00 0.00 0.00
148000 Notes Receivable - Short Term 0.00 0.00 79,512.15 0.00
-------------- -------------- -------------- --------------
TOTAL OTHER AR 20,454,497.70 49,128.99 79,512.15 0.00
-------------- -------------- -------------- --------------
PREPAIDS
140000 Prepaid Expenses - Current 0.00 50,007.07 49,687.50 0.00
140500 Prepaid - Rent -0.01 0.00 0.00 0.00
141000 Prepaid - Insurance 2,044,065.43 0.00 0.00 0.00
141100 Prepaid-Capital Leases 398,410.61 0.00 0.00 0.00
141500 Prepaid - Other 225,756.52 9,064.01 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL PREPAIDS 2,668,232.55 59,071.08 49,687.50 0.00
-------------- -------------- -------------- --------------
OTHER CURRENT ASSETS
142100 Input GST/VAT Recoverable 103,120.59 0.00 0.00 0.00
144000 Deposits 714,911.55 0.00 0.00 0.00
145000 Other Current Assets 0.00 -232,117.53 0.00 0.00
146000 Employee Advance 8,892.50 11,119.53 35,000.00 0.00
-------------- -------------- -------------- --------------
TOTAL OTHER CURRENT ASSETS 826,924.64 (220,998.00) 35,000.00 0.00
-------------- -------------- -------------- --------------
TOTAL CURRENT ASSETS 27,509,432.07 2,989,066.70 242,879.74 (43,609.30)
-------------- -------------- -------------- --------------
FIXED ASSETS
FIXED ASSETS
160000 Computer Equipment 13,556,795.49 6,430,786.37 49,321.94 6,884.89
161000 Office Equipment 209,827.34 0.00 0.00 0.00
162000 Furniture & Fixtures 2,352,596.15 2,033,826.69 13,082.49 0.00
163000 Computer Software 0.00 5,511,318.19 17,123.33 0.00
164000 Leasehold Improvements 19,997,051.30 5,063,485.55 0.00 0.00
165000 Capitalized Software Developmn 2,297,938.41 0.00 0.00 0.00
166000 Equipment Under Capital Leases 11,926,761.37 2,224,101.35 0.00 0.00
167000 Vehicles 0.00 16,487.87 0.00 0.00
167500 Fixed Assets Suspense 0.00 2,357,478.31 0.00 0.00
168000 Accumulated Depreciation -34,326,358.54 -16,747,608.92 -54,516.68 -8,817.82
168500 Accum Depreciation- Cap Leases -11,407,195.40 0.00 0.00 0.00
169000 Accumulated Amortization -2,416,726.57 0.00 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL FIXED ASSETS 2,190,689.55 6,889,875.41 25,011.08 (1,932.93)
-------------- -------------- -------------- --------------
OTHER ASSETS
185000 Organizational Costs 692,557.26 1,317,866.58 641,336.16 3,636.00
185200 Deposits - Noncurrent 658,591.82 1,096,879.51 16,000.00 0.00
186400 Investment in Subsidiary 174,251.67 0.00 229,403,066.08 379,950.00
186500 Long Term Investments -542,846.55 0.00 0.00 0.00
186700 Other Noncurrent Assets 0.00 -0.35 163,320.25 0.00
186800 Goodwill 24,903,135.92 3,409,373.02 0.00 0.00
186801 Scient Goodwill 370,389.44 0.00 0.00 0.00
187000 Prepaid Expenses - Noncurrent 0.00 0.00 307,960,200.96 183,922.08
-------------- -------------- -------------- --------------
TOTAL OTHER ASSETS 26,256,079.56 5,824,118.76 538,183,923.45 567,508.08
-------------- -------------- -------------- --------------
TOTAL ASSETS 55,956,201.18 15,703,060.87 538,451,814.27 521,965.85
============== ============== ============== ==============
LIABILITIES & EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLES
200000 Accounts Payable 7,424,592.09 2,612,365.96 13,881.39 19,003.50
-------------- -------------- -------------- --------------
TOTAL ACCOUNTS PAYABLES 7,424,592.09 2,612,365.96 13,881.39 19,003.50
-------------- -------------- -------------- --------------
OTHER CURRENT LIABILITIES
ACCRUED LIABILITIES
210000 Accrued Payroll 0.00 0.00 0.00 0.00
210100 Expense Reports Payable 323,628.01 0.00 0.00 0.00
211000 Accrued Bonuses 1,302,854.46 150,000.35 0.00 0.00
211100 Accrued Commission -3,263.07 0.00 0.00 0.00
211200 Accrued Purchase Orders 5,495.90 0.00 0.00 0.00
211500 Accrued Liabilities-Other 168,673.56 -823,116.58 333,413.17 -105.54
211501 Accrued Severance 849,226.39 0.00 0.00 0.00
211503 Accrued Insurance 0.00 -74,735.28 0.00 0.00
211504 Accrued Benefits 0.00 107,289.42 0.00 0.00
211505 Accrued Telecom 0.00 422,337.46 0.00 0.00
211525 Accrued Prof-Acctg 24,759.00 322,493.00 0.00 0.00
211526 Accrued Prof-Legal 808,467.21 -131,733.97 0.00 0.00
211527 Accrued Litigation Costs 1,406,086.09 0.00 0.00 0.00
211550 Accrued Taxes 2,415,322.10 180,176.97 0.00 0.00
211600 Accrued Rent 159,035.79 13,473.40 0.00 0.00
211700 Year End Accruals 507,300.26 0.00 0.00 0.00
212000 Section 125 flex spend plan 16,455.28 -16,622.33 0.00 0.00
213000 401 K Liabilities -156,232.50 56,220.14 0.00 0.00
214000 Employee Withholdings 211,671.04 25,759.30 -25,759.30 0.00
214500 ESPP Liability -43,648.95 0.00 4,549.00 0.00
214520 Commuter Check Payable 500.10 0.00 0.00 0.00
214530 Internal Parking Garage -1,023.71 0.00 0.00 0.00
214600 Hypo Tax 1,127,525.25 0.00 0.00 0.00
215000 Accrued Vacation Payable -169,776.17 0.00 0.00 0.00
216000 Accrued Restructuring Costs 4,152,973.30 3,494,294.92 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL ACCRUED LIABILITIES 13,106,029.34 3,725,836.80 312,202.87 (105.54)
-------------- -------------- -------------- --------------
DEFERRED REVENUE
220100 Deferred Revenue-Consulting 1,303,122.81 0.00 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL DEFERRED REVENUE 1,303,122.81 0.00 0.00 0.00
-------------- -------------- -------------- --------------
OTHER CURRENT LABILITIES
230000 Output GST/VAT Payable 0.00 0.00 0.00 0.00
230100 Output GST/VAT WriteOff 0.00 0.00 0.00 0.00
260000 Other Current Liabilities 81,224.92 393,833.61 0.00 0.00
261000 Capital Lease - Current 2,327,453.27 279,298.96 0.00 0.00
263100 Intercompany Payable Trade 0.00 16,019,323.58 0.00 13,156,955.85
264000 Interco Payable-Non Trade -35,586,838.12 280,886,752.98 304,096.66 -130,426,106.75
-------------- -------------- -------------- --------------
TOTAL OTHER CURRENT LABILITIES (33,178,159.93) 297,579,209.13 304,096.66 (117,269,150.90)
-------------- -------------- -------------- --------------
TOTAL OTHER CURRENT LIABILITIES (18,769,007.78) 301,305,045.93 616,299.53 (117,269,256.44)
-------------- -------------- -------------- --------------
TOTAL CURRENT LIABILITIES (11,344,415.69) 303,917,411.89 630,180.92 (117,250,252.94)
-------------- -------------- -------------- --------------
LONG TERM LIABILITIES
265000 Intercompany Note Payable 0.00 113,991,622.19 142,500.32 -372,799.01
270000 Notes Payable - LT 8,774,999.99 0.00 0.00 1.00
270010 DIP Facility 2,824,999.97 0.00 0.00 0.00
271500 Deposit Payable 52,400.01 419,270.31 0.00 0.00
272000 Capital Lease - Noncurrent 811,187.53 182,270.92 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL LONG TERM LIABILITIES 12,463,587.50 114,593,163.42 142,500.32 (372,798.01)
-------------- -------------- -------------- --------------
TOTAL LONG TERM LIABILITIES 12,463,587.50 114,593,163.42 142,500.32 (372,798.01)
-------------- -------------- -------------- --------------
TOTAL LIABILITIES 1,119,171.81 418,510,575.31 772,681.24 (117,623,050.95)
-------------- -------------- -------------- --------------
EQUITY
PREFERRED STOCK
-------------- -------------- -------------- --------------
TOTAL PREFERRED STOCK 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
COMMON STOCK
310100 APIC 3,767,000.00 6,000,000.00 630,741,282.04 0.00
310300 Par Value -1,876,015.00 81,429,028.91 975,111.18 132,845,785.22
310500 Stock Subscription Receivable 0.00 0.00 -1,820,500.00 0.00
311000 Unearned Compensation 75,000.00 0.00 -470,999.92 0.00
-------------- -------------- -------------- --------------
TOTAL COMMON STOCK 1,965,985.00 87,429,028.91 629,424,893.30 132,845,785.22
-------------- -------------- -------------- --------------
TREASURY STOCK
330000 Treasury Stock -179,985.00 0.00 -887,852.00 0.00
-------------- -------------- -------------- --------------
TOTAL TREASURY STOCK (179,985.00) 0.00 (887,852.00) 0.00
-------------- -------------- -------------- --------------
399800 Cumulative Translation Adj 7,768,070.60 0.00 -18,578.00 0.00
-------------- -------------- -------------- --------------
CUMULATIVE TRANSLATION ADJ 7,768,070.60 0.00 (18,578.00) 0.00
-------------- -------------- -------------- --------------
300300 Opening Bal Equity 0.00 -332,565,030.38 -85,086,656.80 -39,783,787.73
320000 Equity in Subsidiary 62,512,611.00 0.00 0.00 0.00
399900 Retained Earnings 549,096.65 -151,873,596.75 -5,797,859.10 14,609,922.56
-------------- -------------- -------------- --------------
RETAINED EARNINGS 63,061,707.65 (484,438,627.13) (90,884,515.90) (25,173,865.17)
-------------- -------------- -------------- --------------
340000 Accumulated Other Comprehensiv 0.00 0.00 38,680.09 0.00
-------------- -------------- -------------- --------------
ACCUMULATED OTHER COMPREHENSIVE 0.00 0.00 38,680.09 0.00
-------------- -------------- -------------- --------------
NET INCOME (17,778,748.88) (5,797,916.22) 6,505.54 10,473,096.75
-------------- -------------- -------------- --------------
Total Equity 54,837,029.37 (402,807,514.44) 537,679,133.03 118,145,016.80
-------------- -------------- -------------- --------------
TOTAL LIABILITIES AND EQUITY 55,956,201.18 15,703,060.87 538,451,814.27 521,965.85
============== ============== ============== ==============
|
(Table Continued)
08/30/02 SCIENT INTERNATIONAL SCIENT UK LTD. SCIENT FRANCE SCIENT HK LTD.
-------------------- -------------- -------------- --------------
USD USD USD USD
------------------ -------------- -------------- --------------
ASSETS
CURRENT ASSETS
CASH
100100 Checking (old) 0.00 0.00 0.00 153.85
100160 Bank Account #1 0.00 0.00 0.00 0.00
100170 Bank Account #2 849,220.73 0.01 0.00 0.00
100200 Payroll (old) 0.00 0.00 0.00 0.00
100300 Investment Account (old) 0.00 -0.01 0.00 0.00
100500 Restricted Cash (old) 0.00 0.00 0.00 0.00
100600 MS Investment Account (old) 0.00 747,944.40 0.00 0.00
100700 Bank Account #3 -1,659.98 -254,652.51 0.00 27,495.69
100800 Bank Account #4 1,288,823.03 0.00 0.00 335.13
101100 Bank Account #5 0.00 0.00 0.00 0.00
101200 Bank Account #6 0.00 0.00 0.00 0.00
101300 Bank Account #7 0.00 0.00 0.00 0.00
101400 Bank Account #8 0.00 0.00 0.00 0.00
101500 Bank Account #9 -1,132,113.05 0.00 0.00 0.00
101600 Payroll Account 0.00 0.00 0.00 0.00
103000 Bank Account #10 0.00 -0.01 0.00 0.00
104000 Short Term Investments #1 0.00 0.00 0.00 0.00
------------ ------------ ------------ ------------
TOTAL CASH 1,004,270.73 493,291.88 0.00 27,984.67
------------ ------------ ------------ ------------
ACCOUNTS RECEIVABLE
110000 A/R consulting 70,868.03 1,451,832.58 0.00 0.00
110200 Allowance for Revenue Reversal 0.00 0.00 0.00 0.00
110500 Allowance for Doubtful Account 0.00 -190,976.18 0.00 0.00
------------ ------------ ------------ ------------
TOTAL AR 70,868.03 1,260,856.40 0.00 0.00
------------ ------------ ------------ ------------
OTHER CURRENT ASSETS
OTHER RECEIVABLES
110400 Other Receivables 0.00 0.00 0.00 0.00
110600 Accrued Other Receivables 0.00 0.00 0.00 0.00
120000 Accrued Receivables -0.02 0.00 0.00 0.00
120300 Accounts Receivable - Deferred -0.03 0.00 0.00 0.00
130100 Intercompany Receivable Trade 0.00 130,886.98 0.00 0.00
131000 Interco Receivable 0.00 -785,254.69 0.00 0.00
148000 Notes Receivable - Short Term 0.00 0.00 0.00 0.00
------------ ------------ ------------ ------------
TOTAL OTHER AR (0.05) (654,367.71) 0.00 0.00
------------ ------------ ------------ ------------
PREPAIDS
140000 Prepaid Expenses - Current 0.00 0.00 0.00 0.00
140500 Prepaid - Rent 0.00 285,786.76 0.00 0.00
141000 Prepaid - Insurance 11,198.41 61,961.60 0.00 0.00
141100 Prepaid-Capital Leases 0.00 0.00 0.00 0.00
141500 Prepaid - Other 0.00 57,226.08 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL PREPAIDS 11,198.41 404,974.44 0.00 0.00
-------------- -------------- -------------- --------------
OTHER CURRENT ASSETS
142100 Input GST/VAT Recoverable 0.00 438,079.26 0.00 0.00
144000 Deposits -0.01 6,959.07 0.00 0.00
145000 Other Current Assets 0.00 0.00 0.00 0.00
146000 Employee Advance 0.00 10,258.47 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL OTHER CURRENT ASSETS (0.01) 455,296.80 0.00 0.00
-------------- -------------- -------------- --------------
Total Current Assets 1,086,337.11 1,960,051.81 0.00 27,984.67
-------------- -------------- -------------- --------------
FIXED ASSETS
FIXED ASSETS
160000 Computer Equipment 0.00 2,499,459.98 0.00 0.00
161000 Office Equipment 0.00 6,409.63 0.00 0.00
162000 Furniture & Fixtures 0.00 1,004,126.15 0.00 0.00
163000 Computer Software 0.00 222,112.80 0.00 0.00
164000 Leasehold Improvements 0.00 5,699,359.54 0.00 0.00
165000 Capitalized Software Developmn 0.00 0.00 0.00 0.00
166000 Equipment Under Capital Leases 0.00 67,146.23 0.00 0.00
167000 Vehicles 0.00 0.00 0.00 0.00
167500 Fixed Assets Suspense 0.00 0.00 0.00 0.00
168000 Accumulated Depreciation 0.00 -5,911,512.98 0.00 0.00
168500 Accum Depreciation- Cap Leases 0.00 0.00 0.00 0.00
169000 Accumulated Amortization 0.00 -346,470.08 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL FIXED ASSETS 0.00 3,240,631.27 0.00 0.00
-------------- -------------- -------------- --------------
OTHER ASSETS
185000 Organizational Costs 0.00 173,863.49 0.00 0.00
185200 Deposits - Noncurrent 0.01 235,278.61 0.00 0.00
186400 Investment in Subsidiary 14,460,540.73 0.00 0.00 0.00
186500 Long Term Investments 565,175.70 0.00 0.00 0.00
186700 Other Noncurrent Assets 0.00 0.00 0.00 0.00
186800 Goodwill 0.00 4,791,930.90 0.00 0.00
186801 Scient Goodwill 0.00 0.00 0.00 0.00
187000 Prepaid Expenses - Noncurrent 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL OTHER ASSETS 15,025,716.44 5,201,073.00 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL ASSETS 16,112,053.55 10,401,756.08 0.00 27,984.67
============== ============== ============== ==============
LIABILITIES & EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLES
200000 Accounts Payable -579.05 1,420,659.70 0.00 641.03
-------------- -------------- -------------- --------------
TOTAL ACCOUNTS PAYABLES (579.05) 1,420,659.70 0.00 641.03
-------------- -------------- -------------- --------------
OTHER CURRENT LIABILITIES
ACCRUED LIABILITIES
210000 Accrued Payroll 0.00 65,952.38 0.00 0.00
210100 Expense Reports Payable -0.01 61,365.44 0.00 0.00
211000 Accrued Bonuses 0.00 0.00 0.00 0.00
211100 Accrued Commission 0.00 0.00 0.00 0.00
211200 Accrued Purchase Orders 0.01 0.00 0.00 0.00
211500 Accrued Liabilities-Other 0.01 379,653.86 0.00 0.00
211501 Accrued Severance 0.00 0.00 0.00 0.00
211503 Accrued Insurance 0.00 0.00 0.00 0.00
211504 Accrued Benefits 0.00 0.00 0.00 0.00
211505 Accrued Telecom 0.00 0.00 0.00 0.00
211525 Accrued Prof-Acctg 0.00 0.00 0.00 0.00
211526 Accrued Prof-Legal 0.00 0.00 0.00 0.00
211527 Accrued Litigation Costs 0.00 0.00 0.00 0.00
211550 Accrued Taxes 0.00 0.00 0.00 0.00
211600 Accrued Rent 0.00 0.02 0.00 0.00
211700 Year End Accruals 0.00 0.00 0.00 0.00
212000 Section 125 flex spend plan 0.00 0.00 0.00 0.00
213000 401 K Liabilities 0.00 121,392.21 0.00 0.00
214000 Employee Withholdings 0.00 782,306.20 0.00 0.00
214500 ESPP Liability 0.00 0.01 0.00 0.00
214520 Commuter Check Payable 0.00 0.00 0.00 0.00
214530 Internal Parking Garage 0.00 0.00 0.00 0.00
214600 Hypo Tax 0.00 0.00 0.00 0.00
215000 Accrued Vacation Payable 0.01 0.00 0.00 0.00
216000 Accrued Restructuring Costs 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL ACCRUED LIABILITIES 0.02 1,410,670.12 0.00 0.00
-------------- -------------- -------------- --------------
DEFERRED REVENUE
220100 Deferred Revenue-Consulting 331,431.78 411,785.82 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL DEFERRED REVENUE 331,431.78 411,785.82 0.00 0.00
-------------- -------------- -------------- --------------
OTHER CURRENT LABILITIES
230000 Output GST/VAT Payable 0.00 428,603.76 0.00 0.00
230100 Output GST/VAT WriteOff 0.00 -568.82 0.00 0.00
260000 Other Current Liabilities 0.00 0.00 0.00 0.00
261000 Capital Lease - Current 0.00 0.00 0.00 0.00
263100 Intercompany Payable Trade -0.01 10,396,753.91 0.00 0.00
264000 Interco Payable-Non Trade 32,021,082.48 12,586,239.10 0.01 719,881.15
-------------- -------------- -------------- --------------
TOTAL OTHER CURRENT LABILITIES 32,021,082.47 23,411,027.95 0.01 719,881.15
-------------- -------------- -------------- --------------
TOTAL OTHER CURRENT LIABILITIES 32,352,514.27 25,233,483.89 0.01 719,881.15
-------------- -------------- -------------- --------------
TOTAL CURRENT LIABILITIES 32,351,935.22 26,654,143.59 0.01 720,522.18
-------------- -------------- -------------- --------------
LONG TERM LIABILITIES
265000 Intercompany Note Payable 0.00 -478,429.22 0.00 0.00
270000 Notes Payable - LT 0.00 0.00 0.00 0.00
270010 DIP Facility 0.00 0.00 0.00 0.00
271500 Deposit Payable 0.00 0.00 0.00 0.00
272000 Capital Lease - Noncurrent 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL LONG TERM LIABILITIES 0.00 (478,429.22) 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL LONG TERM LIABILITIES 0.00 (478,429.22) 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL LIABILITIES 32,351,935.22 26,175,714.37 0.01 720,522.18
-------------- -------------- -------------- --------------
EQUITY
PREFERRED STOCK
-------------- -------------- -------------- --------------
TOTAL PREFERRED STOCK 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
COMMON STOCK
310100 APIC 0.00 0.00 0.00 0.00
310300 Par Value 0.00 13,991,416.20 0.00 0.00
310500 Stock Subscription Receivable 0.00 0.00 0.00 0.00
311000 Unearned Compensation 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL COMMON STOCK 0.00 13,991,416.20 0.00 0.00
-------------- -------------- -------------- --------------
TREASURY STOCK
330000 Treasury Stock 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL TREASURY STOCK 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
399800 Cumulative Translation Adj -3,317,282.15 -585,158.20 846,888.63 -654,481.36
-------------- -------------- -------------- --------------
CUMULATIVE TRANSLATION ADJ (3,317,282.15) (585,158.20) 846,888.63 (654,481.36)
-------------- -------------- -------------- --------------
300300 Opening Bal Equity 0.00 -20,180,519.72 0.00 0.00
320000 Equity in Subsidiary 0.00 0.00 0.00 0.00
399900 Retained Earnings -13,643,909.58 2,921,576.27 -846,888.64 -38,056.15
-------------- -------------- -------------- --------------
RETAINED EARNINGS (13,643,909.58) (17,258,943.45) (846,888.64) (38,056.15)
-------------- -------------- -------------- --------------
340000 Accumulated Other Comprehensiv 0.00 -1,873,634.91 0.00 0.00
-------------- -------------- -------------- --------------
ACCUMULATED OTHER COMPREHENSIVE 0.00 (1,873,634.91) 0.00 0.00
-------------- -------------- -------------- --------------
NET INCOME 721,310.06 (10,047,637.93) 0.00 (0.00)
-------------- -------------- -------------- --------------
Total Equity (16,239,881.67) (15,773,958.29) (0.01) (692,537.51)
-------------- -------------- -------------- --------------
TOTAL LIABILITIES AND EQUITY 16,112,053.55 10,401,756.08 (0.00) 27,984.67
============== ============== ============== ==============
|
(Table Continued)
SCIENT CORP. CONSOLIDATED BALANCE SHEET
08/30/02 SCIENT JAPAN SCIENT GERMANY SCIENT CAPITAL SINGAPORE GW AMORT
------------------ -------------- -------------- ------------------
USD USD USD USD
------------------ -------------- -------------- ------------------
ASSETS
CURRENT ASSETS
CASH
100100 Checking (old) 0.00 122,776.44 0.00 0.00
100160 Bank Account #1 0.01 24,636.18 0.00 0.00
100170 Bank Account #2 0.00 0.00 0.00 0.00
100200 Payroll (old) 0.00 0.00 0.00 0.00
100300 Investment Account (old) 0.00 0.00 0.00 0.00
100500 Restricted Cash (old) 0.00 0.00 0.00 0.00
100600 MS Investment Account (old) 0.00 0.00 0.00 0.00
100700 Bank Account #3 0.00 0.00 0.00 0.00
100800 Bank Account #4 0.00 0.00 0.00 0.00
101100 Bank Account #5 0.00 0.00 0.00 0.00
101200 Bank Account #6 0.00 0.00 0.00 0.00
101300 Bank Account #7 0.00 0.00 0.00 0.00
101400 Bank Account #8 0.00 0.00 0.00 0.00
101500 Bank Account #9 0.00 0.00 0.00 0.00
101600 Payroll Account 0.00 0.00 0.00 0.00
103000 Bank Account #10 0.00 0.00 0.00 0.00
104000 Short Term Investments #1 0.00 0.00 0.00 0.00
------------ ------------ ------------ ------------
TOTAL CASH 0.01 147,412.62 0.00 0.00
------------ ------------ ------------ ------------
ACCOUNTS RECEIVABLE
110000 A/R consulting 0.00 0.00 0.00 0.00
110200 Allowance for Revenue Reversal 0.00 0.00 0.00 0.00
110500 Allowance for Doubtful Account 0.00 0.00 0.00 0.00
------------ ------------ ------------ ------------
TOTAL AR 0.00 0.00 0.00 0.00
------------ ------------ ------------ ------------
OTHER CURRENT ASSETS
OTHER RECEIVABLES
110400 Other Receivables 0.00 0.00 0.00 0.00
110600 Accrued Other Receivables 0.00 0.00 0.00 0.00
120000 Accrued Receivables 0.00 0.00 0.00 0.00
120300 Accounts Receivable - Deferred 0.00 0.00 0.00 0.00
130100 Intercompany Receivable Trade 0.00 0.00 0.00 0.00
131000 Interco Receivable 0.00 0.00 0.00 0.00
148000 Notes Receivable - Short Term 0.00 0.00 0.00 0.00
------------ ------------ ------------ ------------
TOTAL OTHER AR 0.00 0.00 0.00 0.00
------------ ------------ ------------ ------------
PREPAIDS
140000 Prepaid Expenses - Current 0.00 0.00 0.00 0.00
140500 Prepaid - Rent 0.00 0.00 0.00 0.00
141000 Prepaid - Insurance 0.00 0.00 0.00 0.00
141100 Prepaid-Capital Leases 0.00 0.00 0.00 0.00
141500 Prepaid - Other 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL PREPAIDS 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
OTHER CURRENT ASSETS
142100 Input GST/VAT Recoverable 0.00 81.94 0.00 0.00
144000 Deposits 0.00 7,312.67 0.00 0.00
145000 Other Current Assets 0.00 0.00 0.00 0.00
146000 Employee Advance 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL OTHER CURRENT ASSETS 0.00 7,394.61 0.00 0.00
-------------- -------------- -------------- --------------
Total Current Assets 0.01 154,807.23 0.00 0.00
-------------- -------------- -------------- --------------
FIXED ASSETS
FIXED ASSETS
160000 Computer Equipment 0.00 0.00 0.00 0.00
161000 Office Equipment 0.00 -0.01 0.00 0.00
162000 Furniture & Fixtures 0.00 0.00 0.00 0.00
163000 Computer Software 0.00 0.00 0.00 0.00
164000 Leasehold Improvements 0.00 0.00 0.00 0.00
165000 Capitalized Software Developmn 0.00 0.00 0.00 0.00
166000 Equipment Under Capital Leases 0.00 0.00 0.00 0.00
167000 Vehicles 0.00 0.00 0.00 0.00
167500 Fixed Assets Suspense 0.00 0.00 0.00 0.00
168000 Accumulated Depreciation 0.00 0.00 0.00 0.00
168500 Accum Depreciation- Cap Leases 0.00 0.00 0.00 0.00
169000 Accumulated Amortization 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL FIXED ASSETS 0.00 (0.01) 0.00 0.00
-------------- -------------- -------------- --------------
OTHER ASSETS
185000 Organizational Costs 0.00 0.00 0.00 0.00
185200 Deposits - Noncurrent 0.00 0.00 0.00 0.00
186400 Investment in Subsidiary 0.00 0.00 0.00 -14,017,700.00
186500 Long Term Investments 0.00 0.00 0.00 0.00
186700 Other Noncurrent Assets 0.00 0.00 0.00 0.00
186800 Goodwill 0.00 0.00 0.00 0.00
186801 Scient Goodwill 0.00 0.00 0.00 0.00
187000 Prepaid Expenses - Noncurrent 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL OTHER ASSETS 0.00 0.00 0.00 (14,017,700.00)
-------------- -------------- -------------- --------------
TOTAL ASSETS 0.01 154,807.22 0.00 (14,017,700.00)
============== ============== ============== ==============
LIABILITIES & EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLES
200000 Accounts Payable 0.00 116,920.74 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL ACCOUNTS PAYABLES 0.00 116,920.74 0.00 0.00
-------------- -------------- -------------- --------------
OTHER CURRENT LIABILITIES
ACCRUED LIABILITIES
210000 Accrued Payroll 0.00 -0.01 0.00 0.00
210100 Expense Reports Payable 0.00 0.00 0.00 0.00
211000 Accrued Bonuses 0.00 0.00 0.00 0.00
211100 Accrued Commission 0.00 0.00 0.00 0.00
211200 Accrued Purchase Orders 0.00 0.00 0.00 0.00
211500 Accrued Liabilities-Other -0.01 10,662.39 0.00 0.00
211501 Accrued Severance 0.00 0.00 0.00 0.00
211503 Accrued Insurance 0.00 0.00 0.00 0.00
211504 Accrued Benefits 0.00 0.00 0.00 0.00
211505 Accrued Telecom 0.00 0.00 0.00 0.00
211525 Accrued Prof-Acctg 0.00 0.00 0.00 0.00
211526 Accrued Prof-Legal 0.00 0.00 0.00 0.00
211527 Accrued Litigation Costs 0.00 0.00 0.00 0.00
211550 Accrued Taxes 0.00 0.00 0.00 0.00
211600 Accrued Rent 0.00 0.00 0.00 0.00
211700 Year End Accruals 0.00 0.00 0.00 0.00
212000 Section 125 flex spend plan 0.00 0.00 0.00 0.00
213000 401 K Liabilities 0.00 0.00 0.00 0.00
214000 Employee Withholdings 0.00 0.00 0.00 0.00
214500 ESPP Liability 0.00 0.00 0.00 0.00
214520 Commuter Check Payable 0.00 0.00 0.00 0.00
214530 Internal Parking Garage 0.00 0.00 0.00 0.00
214600 Hypo Tax 0.00 0.00 0.00 0.00
215000 Accrued Vacation Payable 0.00 0.00 0.00 0.00
216000 Accrued Restructuring Costs 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL ACCRUED LIABILITIES (0.01) 10,662.38 0.00 0.00
-------------- -------------- -------------- --------------
DEFERRED REVENUE
220100 Deferred Revenue-Consulting 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL DEFERRED REVENUE 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
OTHER CURRENT LABILITIES
230000 Output GST/VAT Payable 0.00 0.00 0.00 0.00
230100 Output GST/VAT WriteOff 0.00 0.00 0.00 0.00
260000 Other Current Liabilities 0.00 0.00 0.00 0.00
261000 Capital Lease - Current 0.00 0.00 0.00 0.00
263100 Intercompany Payable Trade 0.00 0.00 0.00 0.00
264000 Interco Payable-Non Trade -0.01 975,517.91 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL OTHER CURRENT LABILITIES (0.01) 975,517.91 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL OTHER CURRENT LIABILITIES (0.02) 986,180.29 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL CURRENT LIABILITIES (0.02) 1,103,101.03 0.00 0.00
-------------- -------------- -------------- --------------
LONG TERM LIABILITIES
265000 Intercompany Note Payable 0.00 0.00 0.00 0.00
270000 Notes Payable - LT 0.00 0.00 0.00 0.00
270010 DIP Facility 0.00 0.00 0.00 0.00
271500 Deposit Payable 0.00 0.00 0.00 0.00
272000 Capital Lease - Noncurrent 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL LONG TERM LIABILITIES 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL LONG TERM LIABILITIES 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL LIABILITIES (0.02) 1,103,101.03 0.00 0.00
-------------- -------------- -------------- --------------
EQUITY
PREFERRED STOCK
-------------- -------------- -------------- --------------
TOTAL PREFERRED STOCK 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
COMMON STOCK
310100 APIC 0.00 0.00 0.00 0.00
310300 Par Value 0.00 0.00 0.00 0.00
310500 Stock Subscription Receivable 0.00 0.00 0.00 0.00
311000 Unearned Compensation 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL COMMON STOCK 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
TREASURY STOCK
330000 Treasury Stock 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
TOTAL TREASURY STOCK 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
399800 Cumulative Translation Adj 450,693.14 -931,231.82 0.00 -4,666,664.00
-------------- -------------- -------------- --------------
CUMULATIVE TRANSLATION ADJ 450,693.14 (931,231.82) 0.00 (4,666,664.00)
-------------- -------------- -------------- --------------
300300 Opening Bal Equity 0.00 0.00 0.00 0.00
320000 Equity in Subsidiary 0.00 0.00 0.00 0.00
399900 Retained Earnings -450,693.11 -17,061.99 0.00 -9,351,036.00
-------------- -------------- -------------- --------------
RETAINED EARNINGS (450,693.11) (17,061.99) 0.00 (9,351,036.00)
-------------- -------------- -------------- --------------
340000 Accumulated Other Comprehensiv 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
ACCUMULATED OTHER COMPREHENSIVE 0.00 0.00 0.00 0.00
-------------- -------------- -------------- --------------
NET INCOME 0.00 (0.00) 0.00 0.00
-------------- -------------- -------------- --------------
Total Equity 0.03 (948,293.81) 0.00 (14,017,700.00)
-------------- -------------- -------------- --------------
TOTAL LIABILITIES AND EQUITY 0.01 154,807.22 0.00 (14,017,700.00)
============== ============== ============== ==============
|
(Table Continued)
ADJ. TO
BE RECORDED TOTAL OF
IXL ITALIA IXL INTERNATIONAL SCIENT INTERNATIONAL ELIMINATIONS ALL BU'S
------------ ------------------ --------------------- ------------ ---------------
USD USD USD USD USD
------------ ------------------ --------------------- ------------ ---------------
ASSETS
CURRENT ASSETS
CASH
100100 Checking (old) 0.00 98,187.00 146,237.27
100160 Bank Account #1 -427.38 0.00 127,027.16
100170 Bank Account #2 0.00 0.00 -135,002.96 714,217.78
100200 Payroll (old) 0.00 0.00 -5,227.57
100300 Investment Account (old) 0.00 0.00 118,607.65
100500 Restricted Cash (old) 0.00 0.00 3,589,282.74
100600 MS Investment Account (old) 0.00 0.00 747,944.40
100700 Bank Account #3 0.00 0.00 -228,353.13
100800 Bank Account #4 0.00 0.00 -1,309,552.88 -19,755.25
101100 Bank Account #5 0.00 0.00 96,512.50
101200 Bank Account #6 0.00 0.00 0.19
101300 Bank Account #7 126,059.52 0.00 -196,950.10
101400 Bank Account #8 0.00 0.00 331,112.50
101500 Bank Account #9 0.00 0.00 1,720,285.96 1,938,322.05
101600 Payroll Account 0.00 0.00 -234,315.10
103000 Bank Account #10 0.00 0.00 4,416.70
104000 Short Term Investments #1 0.00 0.00 78,680.09
------------ ------------ ------------ ------------ ------------
TOTAL CASH 125,632.14 98,187.00 275,730.12 7,207,759.88
------------ ------------ ------------ ------------ ------------
ACCOUNTS RECEIVABLE
110000 A/R consulting 323,457.43 27,167.00 -20,629.65 14,801,246.07
110200 Allowance for Revenue Reversal 0.00 0.00 -3,410,990.52
110500 Allowance for Doubtful Account -146,323.75 0.00 -8,213,398.20
------------ ------------ ------------ ------------ ------------
TOTAL AR 177,133.68 27,167.00 -20,629.65 3,176,857.35
------------ ------------ ------------ ------------ ------------
OTHER CURRENT ASSETS
OTHER RECEIVABLES
110400 Other Receivables 0.00 0.00 4,941,470.46
110600 Accrued Other Receivables 0.00 0.00 67,000.00
120000 Accrued Receivables 0.01 0.00 1,406,460.25
120300 Accounts Receivable - Deferred 0.00 0.00 74,949.93
130100 Intercompany Receivable Trade 0.00 0.00 -130,886.98 0.00
131000 Interco Receivable 0.00 0.00 -13,228,491.32 0.00
148000 Notes Receivable - Short Term 0.00 0.00 79,512.15
------------ ------------ ------------ --------------- ------------
TOTAL OTHER AR 0.01 0.00 0.00 -13,359,378.30 6,569,392.79
------------ ------------ ------------ --------------- ------------
PREPAIDS
140000 Prepaid Expenses - Current 0.00 0.00 99,694.57
140500 Prepaid - Rent 241.96 99,581.00 385,609.71
141000 Prepaid - Insurance 0.00 0.00 2,117,225.44
141100 Prepaid-Capital Leases 0.00 0.00 398,410.61
141500 Prepaid - Other 0.00 0.00 292,046.61
------------ ------------ ------------ ------------ ------------
TOTAL PREPAIDS 241.96 99,581.00 0.00 3,292,986.94
------------ ------------ ------------ ------------ ------------
OTHER CURRENT ASSETS
142100 Input GST/VAT Recoverable 0.00 0.00 541,281.79
144000 Deposits 0.00 0.00 729,183.28
145000 Other Current Assets 0.00 0.00 -232,117.53
146000 Employee Advance 0.00 0.00 65,270.50
------------ ------------ ------------ ------------ ------------
TOTAL OTHER CURRENT ASSETS 0.00 0.00 0.00 1,103,618.04
------------ ------------ ------------ ------------ ------------
Total Current Assets 303,007.79 224,935.00 255,100.47 -13,359,378.30 21,350,615.00
FIXED ASSETS
FIXED ASSETS
160000 Computer Equipment 0.00 21,689.16 22,564,937.83
161000 Office Equipment 0.00 0.00 216,236.96
162000 Furniture & Fixtures 0.00 0.00 5,403,631.48
163000 Computer Software 0.00 0.00 5,750,554.32
164000 Leasehold Improvements 0.00 0.00 30,759,896.39
165000 Capitalized Software Developmn 0.00 0.00 2,297,938.41
166000 Equipment Under Capital Leases 0.00 0.00 14,218,008.95
167000 Vehicles 0.00 0.00 16,487.87
167500 Fixed Assets Suspense 0.00 0.00 2,357,478.31
168000 Accumulated Depreciation 0.00 -5,721.16 -57,054,536.10
168500 Accum Depreciation- Cap Leases 0.00 0.00 -11,407,195.40
169000 Accumulated Amortization 0.00 0.00 -2,763,196.65
------------ ------------ ------------ ------------ ------------
TOTAL FIXED ASSETS 0.00 15,968.00 12,360,242.37
------------ ------------ ------------ ------------ ------------
OTHER ASSETS
185000 Organizational Costs 0.00 0.00 2,829,259.49
185200 Deposits - Noncurrent 2,567.59 0.00 2,009,317.54
186400 Investment in Subsidiary 0.00 -2,871.00 -229,785,775.89 611,461.59
186500 Long Term Investments 0.00 0.00 -22,329.15 0.00
186700 Other Noncurrent Assets 0.00 0.00 163,319.90
186800 Goodwill 0.00 0.00 -393,093.00 32,711,346.84
186801 Scient Goodwill 0.00 0.00 370,389.44
187000 Prepaid Expenses - Noncurrent 0.00 0.00 -308,144,123.04 0.00
------------ ------------ ------------ ------------ ------------
TOTAL OTHER ASSETS 2,567.59 -2,871.00 -538,345,321.08 38,695,094.80
------------ ------------ ------------ ------------ ------------
TOTAL ASSETS 305,575.38 238,032.00 -551,704,699.38 72,405,952.17
============== ============== ============ ============== =============
LIABILITIES & EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLES
200000 Accounts Payable -4.05 2,797.00 11,610,278.31
------------ ------------ ------------ ------------ ------------
TOTAL ACCOUNTS PAYABLES -4.05 2,797.00 11,610,278.31
------------ ------------ ------------ ------------ ------------
OTHER CURRENT LIABILITIES
ACCRUED LIABILITIES
210000 Accrued Payroll 0.00 0.00 65,952.37
210100 Expense Reports Payable 0.00 0.00 384,993.44
211000 Accrued Bonuses 0.00 0.00 1,452,854.81
211100 Accrued Commission 0.00 0.00 -3,263.07
211200 Accrued Purchase Orders 0.00 0.00 5,495.91
211500 Accrued Liabilities-Other 112,503.02 279,993.00 -393,093.00 68,583.88
211501 Accrued Severance 0.00 0.00 849,226.39
211503 Accrued Insurance 0.00 0.00 -74,735.28
211504 Accrued Benefits 0.00 0.00 107,289.42
211505 Accrued Telecom 0.00 0.00 422,337.46
211525 Accrued Prof-Acctg 0.00 0.00 347,252.00
211526 Accrued Prof-Legal 0.00 0.00 676,733.24
211527 Accrued Litigation Costs 0.00 0.00 1,406,086.09
211550 Accrued Taxes 0.00 0.00 2,595,499.07
211600 Accrued Rent 3,219.27 0.00 175,728.48
211700 Year End Accruals 0.00 0.00 507,300.26
212000 Section 125 flex spend plan 0.00 0.00 -167.05
213000 401 K Liabilities 0.00 0.00 21,379.85
214000 Employee Withholdings 0.00 0.00 993,977.24
214500 ESPP Liability 0.00 0.00 -39,099.94
214520 Commuter Check Payable 0.00 0.00 500.10
214530 Internal Parking Garage 0.00 0.00 -1,023.71
214600 Hypo Tax 0.00 0.00 1,127,525.25
215000 Accrued Vacation Payable 0.00 0.00 -169,776.16
216000 Accrued Restructuring Costs 0.00 0.00 484,484.00 8,131,752.22
------------ ------------ ------------ ------------ ------------
TOTAL ACCRUED LIABILITIES 115,722.29 279,993.00 91,391.00 19,052,402.27
------------ ------------ ------------ ------------ ------------
DEFERRED REVENUE
220100 Deferred Revenue-Consulting 0.00 0.00 305,386.23 2,351,726.64
------------ ------------ ------------ ------------ ------------
TOTAL DEFERRED REVENUE 0.00 0.00 305,386.23 2,351,726.64
------------ ------------ ------------ ------------ ------------
OTHER CURRENT LABILITIES
230000 Output GST/VAT Payable 68,861.37 0.00 497,465.13
230100 Output GST/VAT WriteOff 0.00 0.00 -568.82
260000 Other Current Liabilities 0.00 0.00 475,058.53
261000 Capital Lease - Current 0.00 0.00 2,606,752.23
263100 Intercompany Payable Trade 0.00 0.00 -39,573,033.33 0.00
264000 Interco Payable-Non Trade 0.00 11,110,524.00 -50,285.76 -172,540,863.65 0.00
------------ ------------ ------------ ------------ ------------
TOTAL OTHER CURRENT LABILITIES 68,861.37 11,110,524.00 -50,285.76 -212,113,896.98 3,578,707.07
------------ ------------ ------------ ------------ ------------
TOTAL OTHER CURRENT LIABILITIES 184,583.66 11,390,517.00 -212,022,505.98 24,982,835.98
------------ ------------ ------------ ------------ ------------
TOTAL CURRENT LIABILITIES 184,579.61 11,393,314.00 255,100.47 -212,022,505.98 36,593,114.29
------------ ------------ ------------ ------------ ------------
LONG TERM LIABILITIES
265000 Intercompany Note Payable -306,033.93 0.00 -112,976,860.35 0.00
270000 Notes Payable - LT 0.00 0.00 8,775,000.99
270010 DIP Facility 0.00 0.00 2,824,999.97
271500 Deposit Payable 0.00 0.00 471,670.32
272000 Capital Lease - Noncurrent 0.00 0.00 993,458.45
TOTAL LONG TERM LIABILITIES -306,033.93 0.00 0.00 -112,976,860.35 13,065,129.73
------------ ------------ ------------ ------------ ------------
TOTAL LONG TERM LIABILITIES -306,033.93 0.00 0.00 -112,976,860.35 13,065,129.73
------------ ------------ ------------ ------------ ------------
TOTAL LIABILITIES -121,454.32 11,393,314.00 255,100.47 -324,999,366.33 49,658,244.02
EQUITY
PREFERRED STOCK
TOTAL PREFERRED STOCK 0.00 0.00 0.00
------------ ------------ ------------ ------------ ------------
COMMON STOCK
310100 APIC 0.00 0.00 61,592,717.96 702,101,000.00
310300 Par Value 0.00 195,000.00 -227,541,341.51 18,985.00
310500 Stock Subscription Receivable 0.00 0.00 -1,820,500.00
311000 Unearned Compensation 0.00 0.00 -395,999.92
------------ ------------ ------------ ------------ ------------
TOTAL COMMON STOCK 0.00 195,000.00 -165,948,623.55 699,903,485.08
------------ ------------ ------------ ------------ ------------
TREASURY STOCK
330000 Treasury Stock 0.00 0.00 -1,067,837.00
------------ ------------ ------------ ------------ ------------
TOTAL TREASURY STOCK 0.00 0.00 -1,067,837.00
------------ ------------ ------------ ------------ ------------
399800 Cumulative Translation Adj 52,244.71 0.00 1,299,782.59 244,284.14
------------ ------------ ------------ ------------ ------------
CUMULATIVE TRANSLATION ADJ 52,244.71 0.00 1,299,782.59 244,284.14
------------ ------------ ------------ ------------ ------------
300300 Opening Bal Equity 0.00 0.00 -477,615,994.63
320000 Equity in Subsidiary 0.00 0.00 -62,512,611.00 0.00
399900 Retained Earnings 455,459.00 -11,505,282.00 -174,988,328.84
------------ ------------ ------------ ------------ ------------
RETAINED EARNINGS 455,459.00 -11,505,282.00 -62,512,611.00 -652,604,323.47
340000 Accumulated Other Comprehensiv 0.00 155,000.00 456,118.91 -1,223,835.91
------------ ------------ ------------ ------------ ------------
ACCUMULATED OTHER COMPREHENSIVE 0.00 155,000.00 456,118.91 -1,223,835.91
NET INCOME -80,674.01 0.00 0.00 -22,504,064.69
------------ ------------ ------------ ------------ ------------
Total Equity 427,029.70 -11,155,282.00 -226,705,333.05 22,747,708.15
TOTAL LIABILITIES AND EQUITY 305,575.38 238,032.00 255,100.47 -551,704,699.38 72,405,952.17
============== ============== ============ ============== =============
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Scient, Inc.
Consolidated Cash Flow Statement
Eight Months Ended
30-Aug-02
----------------------
NET LOSS $ (22,503)
Adjustments to reconcile
net loss to net cash used in operations
Depreciation and amortization 8,473
Reorginaztion Costs 504
Prov for Doubtful Accounts (14,597)
Accretion of disct on L/T Debt 299
Stock based on comp and other exp 75
ADJT of value of note payable to affiliate (6,431)
Changes in Assets and Liab
(Increase) decrease in Accounts receivable 19,444
(Increase) decrease in PPD EXP and Other Assets (1,281)
Increase (decrease) in ACCTS PYBL, Accrued exp and others/t liab (11,555)
Increase (decrease) in Restruc and sev oblig (37,480)
Increase (decrease) in Other L/T liab (1,998)
-------------------
Net cash used in operating activities (67,050)
Cash flows from investing activities:
Changes in Restricted cash 37,636
Proceeds from the sale of equipment 261
-------------------
Net cash provided by investing activities 37,897
Cash flows from financing activities.
Principal payments under capital leases (677)
Borrowings under term note net of assoc fees of 326 8,449
Borrowings under DIP Facility 2,825
Repurchase of Restricted stock (180)
-------------------
Net cash provided by financing activities: 10,417
Effect of exchange rate changes on cash and cash equiv. 1,441
Net decrease in cash and cash equiv. (17,295)
Cash and cash equiv at beg of period 20,913
-------------------
Cash and cash equiv at end of period $ 3,618
===================
DIFF
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SCIENT, INC.
GROSS PAYROLL AND TAXES DURING BANKRUPTCY FROM 7/17 - PRESENT
PAYDATE GROSS PAYROLL FEDERAL STATE EE SOCIAL SECURITY ER SOCIAL SECURITY
---------------------------------------------------------------------------------------------
7/31/2002 Total $ 1,338,864.70 $ 279,188.09 $ 59,508.68 $ 5,404.29 $ 45,404.29
8/15/2002 Total 1,253,791.11 264,381.95 57,040.62 36,785.08 36,785.08
8/30/2002 Total 1,178,658.60 248,602.91 53,468.51 32,191.84 32,191.84
9/6/2002 Total 6,875.00 1,578.65 412.65 -- --
9/13/2002 Total 1,115,426.01 236,196.44 50,429.85 26,702.60 26,702.60
9/19/2002 Total 3,333.34 741.89 191.88 206.66 206.66
9/30/2002 Regular Payroll Total 1,196,353.50 -- -- 22,447.69 22,447.69
9/30/2002 Severance & Bonus Total 446,547.92 -- -- 11,787.35 11,787.35
------------
GRAND TOTAL $ 6,539,850.18 $1,030,689.93 $221,052.19 $175,525.51 $ 175,525.51
============
(Table Continued)
PAYDATE EE MEDICARE ER MEDICARE LOCAL SUI/SDI TOTAL
--------------------------------------------------------------------------------------------
7/31/2002 Total $ 19,197.02 $ 19,197.02 $ 13,474.90 $ 154.70 $ 1,820,393.69
8/15/2002 Total 17,960.69 17,960.69 13,141.13 149.50 1,697,995.85
8/30/2002 Total 16,891.27 16,891.27 13,133.25 151.86 1,592,181.35
9/6/2002 Total 97.39 97.39 -- -- 9,061.08
9/13/2002 Total 15,984.41 15,984.41 11,986.06 137.80 1,499,550.18
9/19/2002 Total 48.33 48.33 112.53 1.30 4,890.92
9/30/2002 Regular Payroll Total 17,170.66 17,170.66 -- 45.21 1,275,635.41
9/30/2002 Severance & Bonus Total 6,482.67 6,482.67 -- -- 483,087.96
---------------
Grand Total $ 93,832.44 $ 93,832.44 $ 51,847.87 $ 640.37 $ 8,382,796.44
===============
|