Current Report — Form 8-K
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 8-K World Access, Inc. HTML 14K
2: EX-99.1 Monthly Operating Reports of World Access, Inc. 90 265K
3: EX-99.2 Monthly Reports of Wa Telecom Products Co., Inc. 49 119K
4: EX-99.3 Monthly Operating Reports of World Access 49 130K
5: EX-99.4 Monthly Operating Reports of Facilicom Internation 49 162K
6: EX-99.5 Monthly Operating Reports of Worldxchange Comm. 149 622K
EX-99.3 — Monthly Operating Reports of World Access
| EX-99.3 | 1st Page of 49 | TOC | ↑Top | Previous | Next | ↓Bottom | Just 1st |
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EXHIBIT 99.3
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
AMENDED SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS
For the Month Ending May 31, 2001
[Enlarge/Download Table]
BEGINNING BALANCE IN ALL ACCOUNTS $ 303,514.18
RECEIPTS:
1. Receipts from Operations $ 176,896.47
Receipts from Operations (Received by Parent or Affiliates) $ 35,329.85
2. Other Receipts $ --
Other Receipts (Received by Parent or Affiliates) $ 255.19
-------------
TOTAL RECEIPTS $ 212,481.51
Less: Receipts received by Parent or Affiliates $ (35,585.04)
-------------
ADJUSTED TOTAL RECEIPTS $ 176,896.47
DISBURSEMENTS
3. Net Payroll
a. Officers $ --
b. Others (Paid by Parent or Affiliate) $ 38,396.45
4. Taxes
a. Federal Income Taxes (Paid by Parent or Affiliate) $ 8,918.28
b. FICA Withholdings (Paid by Parent or Affiliate) $ 3,955.02
c. Employee's withholdings $ --
d. Employer's FICA (Paid by Parent or Affiliate) $ 3,832.67
e. Federal Unemployment Taxes (Paid by Parent or Affiliate) $ 33.23
f. State Income Tax (Paid by Parent or Affiliate) $ 477.83
g. State Employee withholdings $ --
h. All other state taxes (Paid by Parent or Affiliate) $ 9.85
5. Necessary Expenses
a. Rent or mortgage payment(s) (Paid by Affiliate) $ 12,784.41
b. Utilities $ 576.24
c. Insurance (Paid by Parent or Affiliate) $ 1,980.48
d. Merchandise bought for manufacture or sell $ --
e. Other necessary expenses
Employee Expenses $ 619.42
Temporary Help $ 2,970.00
WorldCom (Paid by Parent or Affiliate) $7,250,000.00
-------------
TOTAL DISBURSEMENTS $7,324,553.88
Less: Disbursements paid by Parent or Affiliates $(7,320,388.22)
-------------
ADJUSTED TOTAL DISBURSEMENTS $ 4,165.66
NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $ 172,730.81
NET INTERCOMPANY SWEEP TRANSFERS - WAXS $ 11,310.00
-------------
ENDING BALANCE IN Bank of America 3751607047 $ 5,661.25
ENDING BALANCE IN Bank of America 3751567556 $ 155,711.82
ENDING BALANCE IN Bank of America 2591500124 $ 279,781.10
ENDING BALANCE IN 00-2662-5 Bank West $ 1,067.05
ENDING BALANCE IN CNSC-Merrill Lynch $ 383.40
ENDING BALANCE IN CNSC-SW Bank of TX $ 1,365.58
ENDING BALANCE IN CNSC Tax Acct-Bank of West $ 31,050.76
ENDING BALANCE IN Int Transfer-Cash Transfer $ 7,582.95
ENDING BALANCE IN Bank of the West $ 39.06
ENDING BALANCE IN Mexico Bills $ 35.87
ENDING BALANCE IN Merrill Lynch $ 4,876.15
-------------
ENDING BALANCE IN ALL ACCOUNTS $ 487,554.99
=============
OPERATING REPORT Page 1
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
RECEIPTS LISTING
For the Month Ending May 31, 2001
Bank: Bank of America
Location: Dallas, TX
Account Name: Customer Connection Analyzed Checking
Account Number: 3751607047
[Download Table]
DATE RECEIVED DESCRIPTION AMOUNT
------------- ----------- ------
Receipts from Operations:
05/22/01 Robert L. Shaw $ 37.54
05/22/01 Frank J. Moore $ 60.87
05/24/01 Combined Networks, Inc. $ 143.08
05/24/01 Carnlee Collins, Jr. $ 1.88
05/24/01 James L. Brey $ 2.45
05/29/01 Gary Balazs $ 30.08
05/29/01 L. E. Jackson $ 43.57
05/29/01 Ersmark Capital Corp $ 91.78
--------
TOTAL $ 411.25
========
OPERATING REPORT Page 2
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
RECEIPTS LISTING
For the Month Ending May 31, 2001
Bank: Bank of America
Location: Dallas, Texas
Account Name: Customer Connection Analyzed Checking
Account Number: 3751567556
[Download Table]
DATE RECEIVED DESCRIPTION AMOUNT
------------- ----------- ------
Receipts from Operations:
04/30/01 Webway $ 159.40
05/09/01 Vartec $ 175,983.88
05/09/01 Webway $ 133.16
05/14/01 Webway $ 208.78
------------
Total $ 176,485.22
============
OPERATING REPORT Page 3
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
RECEIPTS LISTING
For the Month Ending May 31, 2001
DEPOSITED IN AFFILIATE'S BANK ACCOUNT (TO BE TRANSFERRED TO DEBTOR'S ACCOUNT)
[Enlarge/Download Table]
WHERE
DATE RECEIVED DEPOSITED DESCRIPTION AMOUNT
------------- --------- ----------- ------
Receipts from Operations:
04/26/01 FCI Norbel Telecom, Inc. (Primetec) $ 5,734.76
05/02/01 FCI Huntington Market (Primetec) $ 29,595.09
-----------
$ 35,329.85
Other Receipts:
05/15/01 FCI State of Nevada - Cash Bond Refund (Resurgens) $ 255.19
-----------
$ 255.19
-----------
Total receipts deposited to affiliate's bank account $ 35,585.04
===========
Parent and Affiliate Abbreviations:
WAXS World Access, Inc.
WATP WA Telecom Products Co., Inc.
FCI Facilicom International, LLC
WxC WorldxChange Communications, Inc.
OPERATING REPORT Page 4
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
DISBURSEMENT LISTING
For the Month Ending May 31, 2001
Bank: Bank of America
Location: Dallas, TX
Account Name: Customer Connection Analyzed Checking
Account Number: 3751607047
[Download Table]
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT
-------------- ------------ ----------- ----------
05/07/01 0000000024 Scott Banks $ 2,250.00
----------
Total $ 2,250.00
==========
OPERATING REPORT Page 5
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
DISBURSEMENT LISTING
For the Month Ending May 31, 2001
Bank: Bank of America
Location: Dallas, TX
Account Name: Customer Connection Analyzed Checking
Account Number: 3751567556
[Download Table]
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT
-------------- ------------ ----------- ----------
05/24/01 0000000342 J.N. RIC KNIGHT $ 619.42
05/24/01 0000000343 SOUTHWESTERN BELL $ 576.24
05/24/01 0000000344 LINDA GILMORE $ 720.00
----------
Total $ 1,915.66
==========
OPERATING REPORT Page 6
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
For the Month Ending May 31, 2001
STATEMENT OF INVENTORY
Beginning Inventory $ --
Add: purchases $ --
Less: goods sold $ --
------------
--
Ending inventory $ --
============
PAYROLL INFORMATION STATEMENT
Gross payroll for this period $ 51,747.58
Payroll taxes due but unpaid $ --
STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS
[Enlarge/Download Table]
DATE REGULAR AMOUNT OF NUMBER OF AMOUNT OF
NAME OF CREDITOR/LESSOR PAYMENT IS DUE REGULAR PAYMENT PAYMENTS DELINQUENT PAYMENTS DELINQUENT
----------------------- -------------- ---------------- -------------------- -------------------
Waterton Printers Square* 5/1/2001 $ 12,784.41 0 $ --
One Wilshire Arcade 5/1/2001 $ 24,965.68 1 $ 24,965.68
* Payment made by affiliate, Facilicom International, LLC. On behalf of Debtor.
OPERATING REPORT Page 7
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
For the Month Ending May 31, 2001
STATEMENT OF AGED RECEIVABLES
[Enlarge/Download Table]
ACCOUNTS RECEIVABLE 3RD PARTY INTERCOMPANY TOTAL
--------------- --------------- ---------------
Beginning of month balance $ 95,038,439.05 $ -- $ 95,038,439.05
Add: sales on account $ 11,364,603.58 $ -- $ 11,364,603.58
Add: customer credits $ -- $ -- $ --
Add: intercompany activity $ (35,329.85) $ 35,585.04 $ 255.19
Less: collections $ (176,896.47) $ -- $ (176,896.47)
Less: offsets $ -- $ -- $ --
Less: application of customer deposits $ -- $ -- $ --
--------------- --------------- ---------------
End of month balance $106,190,816.31 $ 35,585.04 $106,226,401.35
=============== =============== ===============
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total
--------- ---------- ---------- ------------ ------------------
$ 4,958,530.17 $ 11,017,928.96 $ 19,391,494.13 $ 70,822,863.05 $106,190,816.31
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)
[Enlarge/Download Table]
3RD PARTY INTERCOMPANY TOTAL
--------------- -------------- --------------
Beginning of month balance $ -- $ -- $ --
Add: sales on account $ 7,717,299.89 $ -- $ 7,717,299.89
Add: intercompany activity
Expenses paid directly by Parent or Affiliate $ (7,320,388.22) $ 7,320,388.22 $ --
Net cash advanced by Parent or Affiliate $ -- $ 11,310.00 $ 11,310.00
Credit extended by Parent or Affiliate $ -- $ 99,402.02 $ 99,402.02
Amounts collected on behalf of Affiliate $ -- $ -- $ --
Less: payments $ (4,165.66) $ -- $ (4,165.66)
--------------- -------------- --------------
End of month balance $ 392,746.01 $ 7,431,100.24 $ 7,823,846.25
=============== ============== ==============
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total
--------- ---------- ---------- ------------ ------------------
$ 392,746.01 $ -- $ -- $ -- $ 392,746.01
** The post-petition accounts payable balances accrued for above are subject to
customary audit and review, which could result in changes to the balances
recorded. If upon such audit and review amounts invoiced by vendors are
disputed, such disputed amounts are not reflected in the accounts payable
balances reflected above. As of May 31, the Debtor has been invoiced
cumulative post-petition disputed amounts totalling $1,600,608.
OPERATING REPORT Page 8
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
For The Month Ending: May 31, 2001
TAX QUESTIONNAIRE
Debtors in possession and trustees are required to pay all taxes incurred
after the filing of their Chapter 11 petition on an as due basis. Please
indicate whether the following post petition taxes or withholdings have been
paid currently.
1. Federal income taxes Yes (X) No ( )
2. FICA withholdings Yes (X) No ( )
3. Employee's withholdings Yes (X) No ( )
4. Employer's FICA Yes (X) No ( )
5. Federal unemployment taxes Yes (X) No ( )
6. State income tax Yes (X) No ( )
7. State employee withholdings Yes (X) No ( )
8. All other state taxes See Note Below
If any of the above have not been paid, state below the tax not paid, the
amounts past due and the date of the last payment.
Note to Item 8:
The Debtor may have personal property subject to tax in various jurisdictions
throughout the United States. No expense has been accrued or paid for any such
potential post-petition claims.
OPERATING REPORT Page 9
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
DECLARATION UNDER PENALTY OF PERJURY
I, Henry C. Lyon, acting as the duly authorized agent for the Debtor in
Possession declare under penalty of perjury under the laws of the United States
that I have read and I certify that the figures, statements, disbursement
itemizations, and account balances as listed in this Monthly Report of the
Debtor are true and correct as of the date of this report to the best of my
knowledge, information and belief.
/s/ Henry C. Lyon
------------------------------------
For the Debtor In Possession
Henry C. Lyon
Designated Officer
OPERATING REPORT Page 10
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
AMENDED SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS
For the Month Ending June 30, 2001
[Download Table]
BEGINNING BALANCE IN ALL ACCOUNTS $487,554.99
RECEIPTS:
1. Receipts from Operations $136,069.97
Receipts from Operations (Received by Parent or Affiliates) $ 2,909.64
2. Other Receipts $ 185.26
Other Receipts (Received by Parent or Affiliates) $ 50,604.81
-----------
TOTAL RECEIPTS $189,769.68
Less: Receipts received by Parent or Affiliates $(53,514.45)
-----------
ADJUSTED TOTAL RECEIPTS $136,255.23
DISBURSEMENTS
3. Net Payroll
a. Officers $ --
b. Others (Paid by Parent or Affiliate) $ --
4. Taxes
a. Federal Income Taxes (Paid by Parent or Affiliate) $ --
b. FICA Withholdings (Paid by Parent or Affiliate) $ --
c. Employee's withholdings $ --
d. Employer's FICA (Paid by Parent or Affiliate) $ --
e. Federal Unemployment Taxes (Paid by Parent or Affiliate) $ --
f. State Income Tax $ --
g. State Employee withholdings $ --
h. All other state taxes (Paid by Parent or Affiliate) $ --
5. Necessary Expenses
a. Rent or mortgage payment(s) (Paid by Affiliate) $ 12,784.41
b. Utilities $ --
c. Insurance (Paid by Parent or Affiliate) $ 56.93
d. Merchandise bought for manufacture or sell $ --
e. Other necessary expenses
Employee Expenses $ --
Temporary Help $ --
WorldCom (Paid by Parent or Affiliate) $ --
-----------
TOTAL DISBURSEMENTS $ 12,841.34
Less Disbursements paid by Parent or Affiliates $ 12,841.34
-----------
ADJUSTED TOTAL DISBURSEMENTS $ --
NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $136,255.23
NET INTERCOMPANY SWEEP TRANSFERS - WAXS $ --
-----------
ENDING BALANCE IN Bank of America 3751607047 $ 6,487.49
ENDING BALANCE IN Bank of America 3751567556 $291,140.81
ENDING BALANCE IN Bank of America 2591500124 $279,781.10
ENDING BALANCE IN 00-2662-5 Bank West $ 1,067.05
ENDING BALANCE IN CNSC-Merrill Lynch $ 383.40
ENDING BALANCE IN CNSC-SW Bank of TX $ 1,365.58
ENDING BALANCE IN CNSC Tax Acct-Bank of West $ 31,050.76
ENDING BALANCE IN Int Transfer-Cash Transfer $ 7,582.95
ENDING BALANCE IN Bank of the West $ 39.06
ENDING BALANCE IN Mexico Bills $ 35.87
ENDING BALANCE IN Merrill Lynch $ 4,876.15
-----------
ENDING BALANCE IN ALL ACCOUNTS $623,810.22
===========
OPERATING REPORT Page 1
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
RECEIPTS LISTING
For the Month Ending June 30, 2001
Bank: Bank of America
Location: Dallas, TX
Account Name: Customer Connection Analyzed Checking
Account Number: 3751607047
[Download Table]
DATE RECEIVED DESCRIPTION AMOUNT
------------- ----------- ------
Receipts from Operations:
06/04/01 Thompson Print Solutions $334.26
06/04/01 Little Elm Independent School District $343.32
06/04/01 Stephen R. Mathers $ 57.69
06/08/01 Sandra Replogle $ 5.64
06/08/01 Gunter First Baptist Church $ 8.85
06/08/01 James W. Fry $ 35.45
06/13/01 Weilbacher & Associates P.C. $ 2.08
06/13/01 Garner Ministries $ 13.35
06/22/01 SNAP Auto Parts, Inc., #4 $ 25.60
-------
$826.24
=======
OPERATING REPORT Page 2
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
RECEIPTS LISTING
For the Month Ending June 30, 2001
Bank: Bank of America
Location: Dallas, Texas
Account Name: Customer Connection Analyzed Checking
Account Number: 3751567556
[Download Table]
DATE RECEIVED DESCRIPTION AMOUNT
------------- ----------- ------
Receipts from Operations:
06/05/01 Webway Communications LLC $ 73.16
06/08/01 Norbel Telecom Inc. $ 686.28
06/13/01 VarTec $134,484.29
-----------
Total $135,243.73
Other Receipts:
06/28/01 SBC Communications, Inc. Refund $ 185.26
-----------
Total $ 185.26
-----------
$135,428.99
===========
OPERATING REPORT Page 3
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
RECEIPTS LISTING
For the Month Ending June 30, 2001
DEPOSITED IN AFFILIATE'S BANK ACCOUNT (TO BE TRANSFERRED TO DEBTOR'S ACCOUNT)
[Enlarge/Download Table]
WHERE
DATE RECEIVED DEPOSITED DESCRIPTION AMOUNT
------------- --------- ----------- ------
Receipts from Operations:
06/05/01 FCI Creative Paper Products (Comm/Net customer) $ 114.38
06/05/01 FCI JCJ Marketing by Design (Comm/Net customer) $ 338.50
06/07/01 FCI Huntington (Primetec customer) $ 2,456.76
----------
$ 2,909.64
Other Receipts:
06/15/01 FCI Comservices Corp (Sale of Comm/Net Equipment) $ 2,500.00
06/15/01 FCI Telecom Recyclers, Inc. (Sale of Primetec Equipment) $23,000.00
06/15/01 FCI Telecom Recyclers, Inc. (Sale of Resurgens Equipment) $25,000.00
06/01/01 WAXS State of Connecticut (Employer P/R Tax Refund-Comm/Net) $ 64.01
06/01/01 WAXS U.S. Treasury (Employer P/R Tax Refund-Comm/Net) $ 1.60
06/01/01 WAXS U.S. Treasury (Fed Excise Tax Refund-Comm/Net) $ 24.32
06/01/01 WAXS U.S. Treasury (Fed Excise Tax Refund-Comm/Net) $ 14.88
----------
$50,604.81
----------
Total receipts deposited to affiliate's bank account $53,514.45
==========
Parent and Affiliate Abbreviations:
WAXS World Access, Inc.
WATP WA Telecom Products Co., Inc.
FCI Facilicom International, LLC
WxC WorldxChange Communications, Inc.
OPERATING REPORT Page 4
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
For the Month Ending June 30, 2001
[Download Table]
STATEMENT OF INVENTORY
Beginning Inventory $ --
Add: purchases $ --
Less: goods sold $ --
-------
Ending inventory $ --
=======
PAYROLL INFORMATION STATEMENT
Gross payroll for this period $ --
Payroll taxes due but unpaid $ --
STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS
[Enlarge/Download Table]
DATE REGULAR AMOUNT OF NUMBER OF AMOUNT OF
NAME OF CREDITOR/LESSOR PAYMENT IS DUE REGULAR PAYMENT PAYMENTS DELINQUENT PAYMENTS DELINQUENT
----------------------- -------------- ---------------- -------------------- -------------------
Waterton Printers Square* 6/1/2001 $12,784.41 0 $ --
One Wilshire Arcade 6/1/2001 $24,965.68 2 $49,931.36
* Payment made by affiliate, Facilicom International, LLC. On behalf of Debtor.
OPERATING REPORT Page 5
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
For the Month Ending June 30, 2001
STATEMENT OF AGED RECEIVABLES
[Enlarge/Download Table]
ACCOUNTS RECEIVABLE 3RD PARTY INTERCOMPANY TOTAL
--------- ------------ -----
Beginning of month balance $106,190,816.31 $35,585.04 $106,226,401.35
Add: sales on account $ 10,085.65 $ -- $ 10,085.65
Add: customer credits $ -- $ -- $ --
Add: intercompany activity $ (2,909.64) $53,514.45 $ 50,604.81
Less: collections $ (136,069.97) $ -- $ (136,069.97)
Less: offsets $ -- $ -- $ --
Less: application of customer deposits $ -- $ -- $ --
--------------- ---------- ---------------
End of month balance $106,061,922.35 $89,099.49 $106,151,021.84
=============== ========== ===============
[Download Table]
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total
--------- ---------- ---------- ------------ ------------------
$564,802.40 $5,162,980.31 $18,763,351.96 $81,570,787.68 $106,061,922.35
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)**
[Enlarge/Download Table]
3RD PARTY INTERCOMPANY TOTAL
--------- ------------ -----
Beginning of month balance $392,746.01 $7,431,100.24 $7,823,846.25
Add: sales on account** $ 53,190.60 $ -- $ 53,190.60
Add: intercompany activity
Expenses paid directly by Parent or Affiliate $(12,841.34) $ 12,841.34 $ --
Net cash advanced by Parent or Affiliate $ -- $ -- $ --
Credit extended by Parent or Affiliate $ -- $ 545.13 $ 545.13
Amounts collected on behalf of Affiliate $ -- $ -- $ --
Less: payments $ -- $ -- $ --
----------- ------------- -------------
End of month balance $433,095.27 $7,444,486.71 $7,877,581.98
=========== ============= =============
[Download Table]
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total
--------- ---------- ---------- ------------ ------------------
$40,349.26 $392,746.01 $ -- $ -- $433,095.27
** The post-petition accounts payable balances accrued for above are
subject to customary audit and review, which could result in changes
to the balances recorded. If upon such audit and review amounts
invoiced by vendors are disputed, such disputed amounts are not
reflected in the accounts payable balances reflected above. As of June
30, the Debtor has been invoiced cumulative post-petition disputed
amounts totalling $3,759,935.
OPERATING REPORT Page 6
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
For The Month Ending: June 30, 2001
TAX QUESTIONNAIRE
Debtors in possession and trustees are required to pay all taxes
incurred after the filing of their Chapter 11 petition on an as due basis.
Please indicate whether the following post petition taxes or withholdings have
been paid currently.
1. Federal income taxes Yes [X] No [ ]
2. FICA withholdings Yes [X] No [ ]
3. Employee's withholdings Yes [X] No [ ]
4. Employer's FICA Yes [X] No [ ]
5. Federal unemployment taxes Yes [X] No [ ]
6. State income tax Yes [X] No [ ]
7. State employee withholdings Yes [X] No [ ]
8. All other state taxes See Note Below
If any of the above have not been paid, state below the tax not paid,
the amounts past due and the date of the last payment.
Note to Item 8:
The Debtor may have personal property subject to tax in various jurisdictions
throughout the United States. No expense has been accrued or paid for any such
potential post-petition claims.
OPERATING REPORT Page 7
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
DECLARATION UNDER PENALTY OF PERJURY
I, Henry C. Lyon, acting as the duly authorized agent for the Debtor in
Possession declare under penalty of perjury under the laws of the United States
that I have read and I certify that the figures, statements, disbursement
itemizations, and account balances as listed in this Monthly Report of the
Debtor are true and correct as of the date of this report to the best of my
knowledge, information and belief.
/s/ Henry C. Lyon
---------------------------------------
For the Debtor In Possession
Henry C. Lyon
Designated Officer
OPERATING REPORT Page 8
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
AMENDED SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS
For the Month Ending July 31, 2001
[Download Table]
BEGINNING BALANCE IN ALL ACCOUNTS $ 623,810.22
RECEIPTS:
1. Receipts from Operations $ --
Receipts from Operations (Received by Parent or Affiliates) $ --
2. Other Receipts $ --
Other Receipts (Received by Parent or Affiliates) $ 30,000.00
-------------
TOTAL RECEIPTS $ 30,000.00
Less: Receipts received by Parent or Affiliates $ (30,000.00)
-------------
ADJUSTED TOTAL RECEIPTS $ --
DISBURSEMENTS
3. Net Payroll
a. Officers $ --
b. Others $ --
4. Taxes
a. Federal Income Taxes $ --
b. FICA Withholdings $ --
c. Employee's withholdings $ --
d. Employer's FICA $ --
e. Federal Unemployment Taxes $ --
f. State Income Tax $ --
g. State Employee withholdings $ --
h. All other state taxes $ --
5. Necessary Expenses
a. Rent or mortgage payment(s) (Paid by Affiliate) $ 13,512.72
b. Utilities $ --
c. Insurance (Paid by Parent or Affiliate) $ (128.56)
d. Merchandise bought for manufacture or sell $ --
e. Other necessary expenses
Employee Expenses $ --
Legal Fees $ 5,280.19
-------------
TOTAL DISBURSEMENTS $ 18,664.35
Less: Disbursements paid by Parent or Affiliates $ (13,384.16)
-------------
ADJUSTED TOTAL DISBURSEMENTS $ 5,280.19
NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $ (5,280.19)
NET INTERCOMPANY SWEEP TRANSFERS - WAXS $ --
-------------
ENDING BALANCE IN Bank of America 3751607047 $ 1,207.30
ENDING BALANCE IN Bank of America 3751567556 $ 291,140.81
ENDING BALANCE IN Bank of America 2591500124 $ 279,781.10
ENDING BALANCE IN 00-2662-5 Bank West $ 1,067.05
ENDING BALANCE IN CNSC-Merrill Lynch $ 383.40
ENDING BALANCE IN CNSC-SW Bank of TX $ 1,365.58
ENDING BALANCE IN CNSC Tax Acct-Bank of West $ 31,050.76
ENDING BALANCE IN Int Transfer-Cash Transfer $ 7,582.95
ENDING BALANCE IN Bank of the West $ 39.06
ENDING BALANCE IN Mexico Bills $ 35.87
ENDING BALANCE IN Merrill Lynch $ 4,876.15
-------------
ENDING BALANCE IN ALL ACCOUNTS $ 618,530.03
=============
OPERATING REPORT Page 1
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
RECEIPTS LISTING
For the Month Ending July 31, 2001
DEPOSITED IN AFFILIATE'S BANK ACCOUNT (TO BE TRANSFERRED TO DEBTOR'S ACCOUNT)
[Download Table]
WHERE
DATE RECEIVED DEPOSITED DESCRIPTION AMOUNT
---------------- --------- ---------------------------- ----------
Other Receipts:
07/01/01 WAXS Sale of NetNet-Germany (LDI) $30,000.00
==========
Parent and Affiliate Abbreviations:
WAXS World Access, Inc.
WATP WA Telecom Products Co., Inc.
FCI Facilicom International, LLC
WxC WorldxChange Communications, Inc.
OPERATING REPORT Page 2
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
DISBURSEMENT LISTING
For the Month Ending July 31, 2001
Bank: Bank of America
Location: Dallas, TX
Account Name: Customer Connection Analyzed Checking
Account Number: 3751607047
[Download Table]
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT
-------------- ------------ ------------------------- ----------
07/06/01 25 Winstead Secrest & Minick $ 4,381.22
07/18/01 26 Winstead Secrest & Minick $ 898.97
----------
$ 5,280.19
==========
OPERATING REPORT Page 3
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
For the Month Ending July 31, 2001
[Download Table]
STATEMENT OF INVENTORY
----------------------
Beginning Inventory $ --
Add: purchases $ --
Less: goods sold $ --
-------------
Ending inventory $ --
=============
PAYROLL INFORMATION STATEMENT
Gross payroll for this period $ --
Payroll taxes due but unpaid $ --
STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS
[Enlarge/Download Table]
DATE REGULAR AMOUNT OF NUMBER OF AMOUNT OF
NAME OF CREDITOR/LESSOR PAYMENT IS DUE REGULAR PAYMENT PAYMENTS DELINQUENT PAYMENTS DELINQUENT
------------------------ -------------- --------------- ------------------- -------------------
Waterton Printers Square* 7/1/2001 $12,784.41 0 $ --
One Wilshire Arcade 7/1/2001 $24,965.68 3 $74,897.04
* Payment made by affiliate, Facilicom International, LLC. On behalf of Debtor.
OPERATING REPORT Page 4
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
For the Month Ending July 31, 2001
STATEMENT OF AGED RECEIVABLES
[Enlarge/Download Table]
ACCOUNTS RECEIVABLE 3RD PARTY INTERCOMPANY TOTAL
--------------- ------------- ---------------
Beginning of month balance $106,061,922.35 $ 89,099.49 $106,151,021.84
Add: sales on account $ -- $ -- $ --
Less: customer credits $ -- $ -- $ --
Add: intercompany activity $ -- $ 30,000.00 $ 30,000.00
Less: collections $ -- $ -- $ --
Less: offsets $ -- $ -- $ --
Less: application of customer deposits $ (80,163.08) $ -- $ (80,163.08)
--------------- ------------- ---------------
End of month balance $105,981,759.27 $ 119,099.49 $106,100,858.76
=============== =============== ===============
[Download Table]
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total
------------- --------------- --------------- --------------- ------------------
$ -- $ 564,802.40 $ 6,675,857.29 $ 98,741,099.58 $105,981,759.27
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)
[Enlarge/Download Table]
3RD PARTY INTERCOMPANY TOTAL
--------------- --------------- ---------------
Beginning of month balance $ 433,095.27 $ 7,444,486.71 $ 7,877,581.98
Add: sales on account** $ 144,902.29 $ -- $ 144,902.29
Add: intercompany activity $ -- $ --
Expenses paid directly by Parent or Affiliate $ (13,384.16) $ 13,384.16 $ --
Net cash advanced by Parent or Affiliate $ -- $ -- $ --
Credit extended by Parent or Affiliate $ -- $ -- $ --
Amounts collected on behalf of Affiliate $ -- $ -- $ --
Less: payments $ (5,280.19) $ -- $ (5,280.19)
--------------- ------------- ---------------
End of month balance $ 559,333.21 $ 7,457,870.87 $ 8,017,204.08
=============== =============== ===============
[Enlarge/Download Table]
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total
--------------- --------------- --------------- --------------- ------------------
$ 131,518.13 $ 40,349.26 $ 387,465.82 $ -- $ 559,333.21
** The post-petition accounts payable balances accrued for above are subject
to customary audit and review, which could result in changes to the
balances recorded. If upon such audit and review amounts invoiced by
vendors are disputed, such disputed amounts are not reflected in the
accounts payable balances reflected above. As of July 31, the Debtor has
been invoiced cumulative post-petition disputed amounts totalling
$4,556,307.
OPERATING REPORT Page 5
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
For The Month Ending: July 31, 2001
TAX QUESTIONNAIRE
Debtors in possession and trustees are required to pay all taxes
incurred after the filing of their Chapter 11 petition on an as due basis.
Please indicate whether the following post petition taxes or withholdings have
been paid currently.
[Download Table]
1. Federal income taxes Yes (X) No ( )
2. FICA withholdings Yes (X) No ( )
3. Employee's withholdings Yes (X) No ( )
4. Employer's FICA Yes (X) No ( )
5. Federal unemployment taxes Yes (X) No ( )
6. State income tax Yes (X) No ( )
7. State employee withholdings Yes (X) No ( )
8. All other state taxes See Note Below
If any of the above have not been paid, state below the tax not paid,
the amounts past due and the date of the last payment.
Note to Item 8:
The Debtor may have personal property subject to tax in various jurisdictions
throughout the United States. No expense has been accrued or paid for any such
potential post-petition claims.
OPERATING REPORT Page 6
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
DECLARATION UNDER PENALTY OF PERJURY
I, Henry C. Lyon, acting as the duly authorized agent for the Debtor in
Possession declare under penalty of perjury under the laws of the United States
that I have read and I certify that the figures, statements, disbursement
itemizations, and account balances as listed in this Monthly Report of the
Debtor are true and correct as of the date of this report to the best of my
knowledge, information and belief.
/s/ Henry C. Lyon
-----------------------------------------
For the Debtor In Possession
Henry C. Lyon
Designated Officer
OPERATING REPORT Page 7
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS
For the Month Ending August 31, 2001
[Download Table]
BEGINNING BALANCE IN ALL ACCOUNTS $ 618,530.03
RECEIPTS:
1. Receipts from Operations $ 113,917.74
Receipts from Operations (Received by Parent or Affiliates) $5,063,791.67
2. Other Receipts $ --
Other Receipts (Received by Parent or Affiliates) $ --
-------------
TOTAL RECEIPTS $5,177,709.41
Less: Receipts received by Parent or Affiliates $(5,063,791.67)
-------------
ADJUSTED TOTAL RECEIPTS $ 113,917.74
DISBURSEMENTS
3. Net Payroll
a. Officers $ --
b. Others $ --
4. Taxes
a. Federal Income Taxes $ --
b. FICA Withholdings $ --
c. Employee's withholdings $ --
d. Employer's FICA $ --
e. Federal Unemployment Taxes $ --
f. State Income Tax $ --
g. State Employee withholdings $ --
h. All other state taxes $ --
5. Necessary Expenses
a. Rent or mortgage payment(s) $ 90,236.07
b. Utilities $ --
c. Insurance (Paid by Parent or Affiliate) $ 61.83
d. Merchandise bought for manufacture or sell $ --
e. Other necessary expenses
Employee Expenses $ --
Office Expenses $ 1,216.96
Legal Fees $ 250.00
-------------
TOTAL DISBURSEMENTS $ 91,764.86
Less: Disbursements paid by Parent or Affiliates $ (90,297.90)
-------------
ADJUSTED TOTAL DISBURSEMENTS $ 1,466.96
NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $ 112,450.78
NET INTERCOMPANY SWEEP TRANSFERS - WAXS $ --
-------------
ENDING BALANCE IN Bank of America 3751607047 $ 1,207.30
ENDING BALANCE IN Bank of America 3751567556 $ 403,591.59
ENDING BALANCE IN Bank of America 2591500124 $ 279,781.10
ENDING BALANCE IN 00-2662-5 Bank West $ 1,067.05
ENDING BALANCE IN CNSC-Merrill Lynch $ 383.40
ENDING BALANCE IN CNSC-SW Bank of TX $ 1,365.58
ENDING BALANCE IN CNSC Tax Acct-Bank of West $ 31,050.76
ENDING BALANCE IN Int Transfer-Cash Transfer $ 7,582.95
ENDING BALANCE IN Bank of the West $ 39.06
ENDING BALANCE IN Mexico Bills $ 35.87
ENDING BALANCE IN Merrill Lynch $ 4,876.15
-------------
ENDING BALANCE IN ALL ACCOUNTS $ 730,980.81
=============
OPERATING REPORT Page 1
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
RECEIPTS LISTING
For the Month Ending August 31, 2001
Bank: Bank of America
Location: Dallas, Texas
Account Name: Customer Connection Analyzed Checking
Account Number: 3751567556
[Download Table]
DATE RECEIVED DESCRIPTION AMOUNT
------------- ----------- -----------
08/08/01 Vartec $113,917.74
-----------
Total $113,917.74
===========
OPERATING REPORT Page 2
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
RECEIPTS LISTING
For the Month Ending August 31, 2001
DEPOSITED IN AFFILIATE'S BANK ACCOUNT (TO BE TRANSFERRED TO DEBTOR'S ACCOUNT)
[Download Table]
WHERE
DATE RECEIVED DEPOSITED DESCRIPTION AMOUNT
------------- --------- ------------------------------ -------------
08/31/01 FCI McLeod USA (Primetec customer) $ 91,207.18
08/31/01 FCI McLeod USA (Comm/Net customer) $4,972,584.49
-------------
$5,063,791.67
=============
Parent and Affiliate Abbreviations:
WAXS World Access, Inc.
WATP WA Telecom Products Co., Inc.
FCI Facilicom International, LLC
WxC WorldxChange Communications, Inc.
OPERATING REPORT Page 3
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
DISBURSEMENT LISTING
For the Month Ending August 31, 2001
Bank: Bank of America
Location: Dallas, TX
Account Name: Customer Connection Analyzed Checking
Account Number: 3751567556
[Download Table]
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT
-------------- ------------ ----------------- ---------
08/09/01 0000000345 VANGUARD ARCHIVES $1,216.96
08/22/01 0000000346 US TRUSTEE PROG $ 250.00
---------
Total $1,466.96
=========
OPERATING REPORT Page 4
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
For the Month Ending August 31, 2001
STATEMENT OF INVENTORY
[Download Table]
Beginning Inventory $ --
Add: purchases $ --
Less: goods sold $ --
-----
Ending inventory $ --
=====
PAYROLL INFORMATION STATEMENT
Gross payroll for this period $ --
Payroll taxes due but unpaid $ --
STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS
[Enlarge/Download Table]
DATE REGULAR AMOUNT OF NUMBER OF AMOUNT OF
NAME OF CREDITOR/LESSOR PAYMENT IS DUE REGULAR PAYMENT PAYMENTS DELINQUENT PAYMENTS DELINQUENT
------------------------- -------------- --------------- ------------------- --------------------
Waterton Printers Square* 8/1/2001 $12,784.41 0 $ --
One Wilshire Arcade* 8/1/2001 $24,965.68 0 $ --
* Payment made by affiliate, Facilicom International, LLC. On behalf of
Debtor.
OPERATING REPORT Page 5
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
For the Month Ending August 31, 2001
STATEMENT OF AGED RECEIVABLES
[Enlarge/Download Table]
ACCOUNTS RECEIVABLE 3RD PARTY INTERCOMPANY TOTAL
--------------- ------------- ---------------
Beginning of month balance $105,981,759.27 $ 119,099.49 $106,100,858.76
Add: sales on account $ -- $ -- $ --
Less: customer credits $ (200,500.66) $ -- $ (200,500.66)
Add: intercompany activity $ -- $5,063,791.67 $ 5,063,791.67
Less: collections $ (5,177,709.41) $ -- $ (5,177,709.41)
Less: offsets $ -- $ -- $ --
Less: application of customer deposits $ -- $ -- $ --
--------------- ------------- ---------------
End of month balance $100,603,549.20 $5,182,891.16 $105,786,440.36
=============== ============= ===============
===============
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total
--------- ---------- ---------- --------------- ------------------
$ - $ - $10,085.65 $100,593,463.55 $100,603,549.20
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)
3RD PARTY INTERCOMPANY TOTAL
--------------- ------------- ---------------
Beginning of month balance $ 559,333.21 $7,457,870.87 $ 8,017,204.08
Add: sales on account** $ 16,867.83 $ -- $ 16,867.83
Add: intercompany activity
Expenses paid directly by Parent or Affiliate $ (90,297.90) $ 90,297.90 $ --
Net cash advanced by Parent or Affiliate $ -- $ -- $ --
Credit extended by Parent or Affiliate $ -- $ -- $ --
Amounts collected on behalf of Affiliate $ -- $ -- $ --
Less: payments $ (1,466.96) $ -- $ (1,466.96)
--------------- ------------- ---------------
End of month balance $ 484,436.18 $7,548,168.77 $ 8,032,604.95
=============== ============= ===============
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total
--------- ------------ ---------- ------------ ------------------
$ - $ 105,183.42 $25,910.85 $353,341.91 $484,436.18
** The post-petition accounts payable balances accrued for above are
subject to customary audit and review, which could result in changes to
the balances recorded. If upon such audit and review amounts invoiced
by vendors are disputed, such disputed amounts are not reflected in the
accounts payable balances reflected above. As of August 31, the Debtor
has been invoiced cumulative post-petition disputed amounts totalling
$4,647,970.
OPERATING REPORT Page 6
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
For The Month Ending: August 31, 2001
TAX QUESTIONNAIRE
Debtors in possession and trustees are required to pay all taxes
incurred after the filing of their Chapter 11 petition on an as due basis.
Please indicate whether the following post petition taxes or withholdings have
been paid currently.
1. Federal income taxes Yes (X) No ( )
2. FICA withholdings Yes (X) No ( )
3. Employee's withholdings Yes (X) No ( )
4. Employer's FICA Yes (X) No ( )
5. Federal unemployment taxes Yes (X) No ( )
6. State income tax Yes (X) No ( )
7. State employee withholdings Yes (X) No ( )
8. All other state taxes See Note Below
If any of the above have not been paid, state below the tax not paid,
the amounts past due and the date of the last payment.
Note to Item 8:
The Debtor may have personal property subject to tax in various jurisdictions
throughout the United States. No expense has been accrued or paid for any such
potential post-petition claims.
OPERATING REPORT Page 7
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
DECLARATION UNDER PENALTY OF PERJURY
I, Henry C. Lyon, acting as the duly authorized agent for the Debtor in
Possession declare under penalty of perjury under the laws of the United States
that I have read and I certify that the figures, statements, disbursement
itemizations, and account balances as listed in this Monthly Report of the
Debtor are true and correct as of the date of this report to the best of my
knowledge, information and belief.
/s/ Henry C. Lyon
-------------------------------------------------
For the Debtor In Possession
Henry C. Lyon
Designated Officer
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS
For the Month Ending September 30, 2001
[Download Table]
BEGINNING BALANCE IN ALL ACCOUNTS $ 730,980.81
Add: Checks voided during period $ 35,982.91
-------------
Adjusted Beginning Balance in All Accounts $ 766,963.72
RECEIPTS:
1. Receipts from Operations $ --
Receipts from Operations (Received by Parent or Affiliates) $ 27,972.79
2. Other Receipts $ --
-------------
TOTAL RECEIPTS $ 27,972.79
Less: Receipts received by Parent or Affiliates $ (27,972.79)
-------------
ADJUSTED TOTAL RECEIPTS $ --
DISBURSEMENTS
3. Net Payroll
a. Officers $ --
b. Others $ --
4. Taxes
a. Federal Income Taxes $ --
b. FICA Withholdings $ --
c. Employee's withholdings $ --
d. Employer's FICA $ --
e. Federal Unemployment Taxes $ --
f. State Income Tax $ --
g. State Employee withholdings $ --
h. All other state taxes $ --
5. Necessary Expenses
a. Rent or mortgage payment(s) $ 12,152.20
b. Utilities $ --
c. Insurance (Paid by Parent or Affiliate) $ --
d. Merchandise bought for manufacture or sell $ --
e. Other necessary expenses $ --
Employee Expenses $ --
Office Expenses $ 608.48
Legal Fees $ 9,750.00
-------------
TOTAL DISBURSEMENTS $ 22,510.68
Less: Disbursements paid by Parent or Affiliates $ (12,152.20)
-------------
ADJUSTED TOTAL DISBURSEMENTS $ 10,358.48
NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $ (10,358.48)
NET INTERCOMPANY SWEEP TRANSFERS - FCI $5,063,791.67
-------------
ENDING BALANCE IN Bank of America 3751607047 $4,973,791.79
ENDING BALANCE IN Bank of America 3751567556 $ 503,221.77
ENDING BALANCE IN Bank of America 2591500124 $ 296,982.53
ENDING BALANCE IN 00-2662-5 Bank West $ 1,067.05
ENDING BALANCE IN CNSC-Merrill Lynch $ 383.40
ENDING BALANCE IN CNSC-SW Bank of TX $ 1,365.58
ENDING BALANCE IN CNSC Tax Acct-Bank of West $ 31,050.76
ENDING BALANCE IN Int Transfer-Cash Transfer $ 7,582.95
ENDING BALANCE IN Bank of the West $ 39.06
ENDING BALANCE IN Mexico Bills $ 35.87
ENDING BALANCE IN Merrill Lynch $ 4,876.15
-------------
ENDING BALANCE IN ALL ACCOUNTS $5,820,396.91
=============
OPERATING REPORT Page 1
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
RECEIPTS LISTING
For the Month Ending September 30, 2001
Bank: Bank of America
Location: Dallas, TX
Account Name: Customer Connection Analyzed Checking
Account Number: 3751607047
[Enlarge/Download Table]
DATE RECEIVED DESCRIPTION AMOUNT
------------- ----------- ------
09/17/01 Caprock Receipt transferred from Facilicom Bank Account $4,972,584.49
-------------
$4,972,584.49
=============
OPERATING REPORT Page 2
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
RECEIPTS LISTING
For the Month Ending September 30, 2001
Bank: Bank of America
Location: Dallas, Texas
Account Name: Customer Connection Analyzed Checking
Account Number: 3751567556
[Enlarge/Download Table]
DATE RECEIVED DESCRIPTION AMOUNT
------------- ----------- ------
09/17/01 Caprock Receipt transferred from Facilicom Bank Account $91,207.18
----------
Total $91,207.18
==========
OPERATING REPORT Page 3
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
RECEIPTS LISTING
For the Month Ending September 30, 2001
DEPOSITED IN AFFILIATE'S BANK ACCOUNT (TO BE TRANSFERRED TO DEBTOR'S ACCOUNT)
[Download Table]
WHERE
DATE RECEIVED DEPOSITED DESCRIPTION AMOUNT
------------- --------- ----------- ------
09/10/01 FCI NTS Communications $27,972.79
----------
$27,972.79
==========
Parent and Affiliate Abbreviations:
WAXS World Access, Inc.
WATP WA Telecom Products Co., Inc.
FCI Facilicom International, LLC
WxC WorldxChange Communications, Inc.
OPERATING REPORT Page 4
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
DISBURSEMENT LISTING
For the Month Ending September 30, 2001
Bank: Bank of America
Location: Dallas, TX
Account Name: Customer Connection Analyzed Checking
Account Number: 3751567556
[Download Table]
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT
-------------- ------------ ----------- ------
09/21/01 0000000347 VANGUARD ARCHIVES $ 608.48
09/21/01 0000000348 US TRUSTEE PROG $ 9,750.00
----------
Total $10,358.48
==========
OPERATING REPORT Page 5
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
For the Month Ending September 30, 2001
[Download Table]
STATEMENT OF INVENTORY
Beginning Inventory $ --
Add: purchases $ --
Less: goods sold $ --
------
Ending inventory $ --
======
PAYROLL INFORMATION STATEMENT
Gross payroll for this period $ --
Payroll taxes due but unpaid $ --
STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS
[Enlarge/Download Table]
DATE REGULAR AMOUNT OF NUMBER OF AMOUNT OF
NAME OF CREDITOR/LESSOR PAYMENT IS DUE REGULAR PAYMENT PAYMENTS DELINQUENT PAYMENTS DELINQUENT
----------------------- -------------- ---------------- -------------------- -------------------
Waterton Printers Square* 9/1/2001 $ 12,784.41 0 $ --
One Wilshire Arcade* 9/1/2001 $ 24,965.68 0 $ --
* Payment made by affiliate, Facilicom International, LLC. On behalf of Debtor.
OPERATING REPORT Page 6
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
For the Month Ending September, 2001
STATEMENT OF AGED RECEIVABLES
[Enlarge/Download Table]
ACCOUNTS RECEIVABLE 3RD PARTY INTERCOMPANY TOTAL
--------- ------------ -----
Beginning of month balance $100,603,549.20 $ 5,182,891.16 $105,786,440.36
Add: sales on account $ -- $ -- $ --
Add: customer credits $ -- $ -- $ --
Add: intercompany activity $ -- $(5,063,791.67) $ (5,063,791.67)
Less: collections $ (27,972.79) $ 27,972.79 $ --
Less: offsets $ -- $ -- $ --
Less: application of customer deposits $ -- $ -- $ --
--------------- -------------- ---------------
End of month balance $100,575,576.41 $ 147,072.28 $100,722,648.69
=============== ============== ===============
[Download Table]
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total
--------- ---------- ---------- ------------ ------------------
$ -- $(1,715.23) $ -- $100,577,291.64 $100,575,576.41
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)
[Enlarge/Download Table]
3RD PARTY INTERCOMPANY TOTAL
--------- ------------ -----
Beginning of month balance $484,436.18 $7,548,168.77 $8,032,604.95
Add: sales on account** $ 22,510.68 $ -- $ 22,510.68
Add: intercompany activity -- $ -- $ --
Expenses paid directly by Parent or Affiliate $(12,152.20) $ 12,152.20 $ --
Net cash advanced by Parent or Affiliate $ -- $ -- $ --
Credit extended by Parent or Affiliate $ -- $ -- $ --
Amounts collected on behalf of Affiliate $ -- $ -- $ --
Less: payments $(10,358.48) $ -- $ (10,358.48)
----------- ------------- -------------
End of month balance $484,436.18 $7,560,320.97 $8,044,757.15
=========== ============= =============
[Download Table]
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total
--------- ---------- ---------- ------------ ------------------
$ -- $ -- $105,183.42 $379,252.76 $484,436.18
** The post-petition accounts payable balances accrued for above are
subject to customary audit and review, which could result in changes
to the balances recorded. If upon such audit and review amounts
invoiced by vendors are disputed, such disputed amounts are not
reflected in the accounts payable balances reflected above. As of
September 30, the Debtor has been invoiced cumulative post-petition
disputed amounts totalling $4,700,474.
OPERATING REPORT Page 7
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
For The Month Ending: September 30, 2001
TAX QUESTIONNAIRE
Debtors in possession and trustees are required to pay all taxes
incurred after the filing of their Chapter 11 petition on an as due basis.
Please indicate whether the following post petition taxes or withholdings have
been paid currently.
1. Federal income taxes Yes [X] No [ ]
2. FICA withholdings Yes [X] No [ ]
3. Employee's withholdings Yes [X] No [ ]
4. Employer's FICA Yes [X] No [ ]
5. Federal unemployment taxes Yes [X] No [ ]
6. State income tax Yes [X] No [ ]
7. State employee withholdings Yes [X] No [ ]
8. All other state taxes See Note Below
If any of the above have not been paid, state below the tax not paid,
the amounts past due and the date of the last payment.
Note to Item 8:
The Debtor may have personal property subject to tax in various jurisdictions
throughout the United States. No expense has been accrued or paid for any such
potential post-petition claims.
OPERATING REPORT Page 8
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
DECLARATION UNDER PENALTY OF PERJURY
I, Henry C. Lyon, acting as the duly authorized agent for the Debtor in
Possession declare under penalty of perjury under the laws of the United States
that I have read and I certify that the figures, statements, disbursement
itemizations, and account balances as listed in this Monthly Report of the
Debtor are true and correct as of the date of this report to the best of my
knowledge, information and belief.
/s/ Henry C. Lyon
-------------------------------------------
For the Debtor In Possession
Henry C. Lyon
Designated Officer
OPERATING REPORT Page 9
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
SUMMARY OF CASH RECEIPTS AND CASH DISBURSEMENTS
For the Month Ending October 31, 2001
[Download Table]
BEGINNING BALANCE IN ALL ACCOUNTS $ 5,820,396.91
RECEIPTS:
1. Receipts from Operations $ --
2. Other Receipts $ --
----------------
TOTAL RECEIPTS $ --
DISBURSEMENTS
3. Net Payroll
a. Officers $ --
b. Others $ --
4. Taxes
a. Federal Income Taxes $ --
b. FICA Withholdings $ --
c. Employee's withholdings $ --
d. Employer's FICA $ --
e. Federal Unemployment Taxes $ --
f. State Income Tax $ --
g. State Employee withholdings $ --
h. All other state taxes $ --
5. Necessary Expenses
a. Rent or mortgage payment(s) (Paid by Parent or Affiliate) $ 12,784.41
b. Utilities $ --
c. Insurance $ --
d. Merchandise bought for manufacture or sell $ --
e. Other necessary expenses
Office Expenses $ 9,032.44
----------------
TOTAL DISBURSEMENTS $ 21,816.85
Less: Disbursements paid by Parent or Affiliates $ (12,784.41)
----------------
ADJUSTED TOTAL DISBURSEMENTS $ 9,032.44
----------------
NET RECEIPTS (DISBURSEMENTS) FOR THE CURRENT PERIOD $ (9,032.44)
NET INTERCOMPANY SWEEP TRANSFERS - FCI $ 27,972.79
----------------
ENDING BALANCE IN Bank of America 3751607047 $ 4,992,854.44
ENDING BALANCE IN Bank of America 3751567556 $ 503,099.47
ENDING BALANCE IN Bank of America 2591500124 $ 296,982.53
ENDING BALANCE IN 00-2662-5 Bank West $ 1,067.05
ENDING BALANCE IN CNSC-Merrill Lynch $ 383.40
ENDING BALANCE IN CNSC-SW Bank of TX $ 1,365.58
ENDING BALANCE IN CNSC Tax Acct-Bank of West $ 31,050.76
ENDING BALANCE IN Int Transfer-Cash Transfer $ 7,582.95
ENDING BALANCE IN Bank of the West $ 39.06
ENDING BALANCE IN Mexico Bills $ 35.87
ENDING BALANCE IN Merrill Lynch $ 4,876.15
----------------
ENDING BALANCE IN ALL ACCOUNTS $ 5,839,337.26
================
OPERATING REPORT Page 1
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
DISBURSEMENT LISTING
For the Month Ending October 31, 2001
Bank: Bank of America
Location: Dallas, TX
Account Name: Customer Connection Analyzed Checking
Account Number: 3751607047
[Download Table]
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT
-------------- ------------ ----------- ------
10/29/01 27 SWBT $ 8,910.14
-----------
Total $ 8,910.14
===========
OPERATING REPORT Page 2
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
DISBURSEMENT LISTING
For the Month Ending October 31, 2001
Bank: Bank of America
Location: Dallas, TX
Account Name: Customer Connection Analyzed Checking
Account Number: 3751567556
[Download Table]
DATE DISBURSED CHECK NUMBER DESCRIPTION AMOUNT
-------------- ------------ ----------- ------
10/29/01 0000000349SWBT $122.30
-------
Total $122.30
=======
OPERATING REPORT Page 3
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
For the Month Ending October 31, 2001
STATEMENT OF INVENTORY
[Download Table]
Beginning Inventory $ --
Add: purchases $ --
Less: goods sold $ --
----------
Ending inventory $ --
==========
PAYROLL INFORMATION STATEMENT
Gross payroll for this period $ --
Payroll taxes due but unpaid $ --
STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS
[Enlarge/Download Table]
DATE REGULAR AMOUNT OF NUMBER OF AMOUNT OF
NAME OF CREDITOR/LESSOR PAYMENT IS DUE REGULAR PAYMENT PAYMENTS DELINQUENT PAYMENTS DELINQUENT
----------------------- -------------- --------------- ------------------- -------------------
Waterton Printers Square* Monthly $ 12,784.41 0 $ --
One Wilshire Arcade* Monthly $ 24,965.68 0 $ --
* Payment made by affiliate, Facilicom International, LLC. On behalf of Debtor.
OPERATING REPORT Page 4
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
For the Month Ending October 31, 2001
STATEMENT OF AGED RECEIVABLES
[Enlarge/Download Table]
ACCOUNTS RECEIVABLE 3RD PARTY INTERCOMPANY TOTAL
-------------------------------------------------------------------
Beginning of month balance $ 100,575,576.41 $ 147,072.28 $ 100,722,648.69
Add: sales on account $ -- $ -- $ --
Add: customer credits $ -- $ -- $ --
Add: intercompany activity $ -- $ (27,972.79) $ (27,972.79)
Less: collections $ -- $ -- $ --
Less: offsets $ -- $ -- $ --
Less: application of customer deposits $ (64,699.35) $ -- $ (64,699.35)
---------------- ------------- ------------------
End of month balance $ 100,510,877.06 $ 119,099.49 $ 100,629,976.55
================ ============= ==================
[Download Table]
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total
--------- ---------- ---------- ------------ ------------------
$ -- $ -- $ -- $100,510,877.06 $ 100,510,877.06
[Enlarge/Download Table]
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)
3RD PARTY INTERCOMPANY TOTAL
--------------------------------------------------------------------
Beginning of month balance $ 484,436.18 $7,560,320.97 $ 8,044,757.15
Add: sales on account** $ 71,816.85 $ -- $ 71,816.85
Add: intercompany activity
Expenses paid directly by Parent or Affiliate $ (12,784.41) $ 12,784.41 $ --
Net cash advanced by Parent or Affiliate $ -- $ -- $ --
Credit extended by Parent or Affiliate $ -- $ -- $ --
Amounts collected on behalf of Affiliate $ -- $ -- $ --
Less: payments $ (9,032.44) $ -- $ (9,032.44)
---------------- ------------- ------------------
End of month balance $ 534,436.18 $7,573,105.38 $ 8,107,541.56
================ ============= ==================
[Download Table]
0-30 Days 31-60 Days 61-90 Days Over 90 Days End of Month Total
--------- ---------- ---------- ------------ ------------------
$38,588.64 $11,411.36 $ -- $ 484,436.18 $ 534,436.18
**The post-petition accounts payable balances accrued for above are subject to
customary audit and review, which could result in changes to the balances
recorded.If upon such audit and review amounts invoiced by vendors are
disputed, such disputed amounts are not reflected in the accounts payable
balances reflected above.As of October 31, the Debtor has been invoiced
cumulative post-petition disputed amounts totalling $4,759,294.
OPERATING REPORT Page 5
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
CASE NAME: World Access Telecommunications Group CASE NUMBER: 01-14645-SPS
For The Month Ending: October 31, 2001
TAX QUESTIONNAIRE
Debtors in possession and trustees are required to pay all taxes
incurred after the filing of their Chapter 11 petition on an as due basis.Please
indicate whether the following post petition taxes or withholdings have been
paid currently.
[Download Table]
1. Federal income taxes Yes (X) No ()
2. FICA withholdings Yes (X) No ()
3. Employee's withholdings Yes (X) No ()
4. Employer's FICA Yes (X) No ()
5. Federal unemployment taxes Yes (X) No ()
6. State income tax Yes (X) No ()
7. State employee withholdings Yes (X) No ()
8. All other state taxes See Note Below
If any of the above have not been paid, state below the tax not paid,
the amounts past due and the date of the last payment.
Note to Item 8:
The Debtor may have personal property subject to tax in various jurisdictions
throughout the United States.No expense has been accrued or paid for any such
potential post-petition claims.
OPERATING REPORT Page 6
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
DECLARATION UNDER PENALTY OF PERJURY
I, Henry C. Lyon, acting as the duly authorized agent for the Debtor in
Possession declare under penalty of perjury under the laws of the United States
that I have read and I certify that the figures, statements, disbursement
itemizations, and account balances as listed in this Monthly Report of the
Debtor are true and correct as of the date of this report to the best of my
knowledge, information and belief.
/s/ Henry C. Lyon
--------------------------------------
For the Debtor In Possession
Henry C. Lyon
Designated Officer
OPERATING REPORT Page 7
Dates Referenced Herein and Documents Incorporated by Reference
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