/raid1/www/Hosts/bankrupt/TCR_Public/051029.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
Saturday, October 29, 2005, Vol. 9, No. 257
Headlines
ADELPHIA COMMS: Posts $85.6 Million Net Loss in September 2005
ADELPHIA COMMS: Century/ML's Sept. 2005 Monthly Operating Report
AOL LATIN: Files Monthly Operating Report for August 2005
ATA AIRLINES: Posts $53,000 Net Loss in August 2005
FOAMEX INTERNATIONAL: Files Schedules of Assets and Debts
FOMAEX INTERNATIONAL: FMXI Inc.'s Schedules of Assets and Debts
FOAMEX INT'L: Foamex Asia Inc.'s Schedules of Assets and Debts
FOAMEX INT'L: Foamex Capital Corp.'s Schedules of Assets & Debts
FOAMEX INTERNATIONAL: Carpet Cushion's Schedules of Assets & Debts
FOAMEX INT'L: Foamex Latin America's Schedules of Assets & Debts
FOAMEX INTERNATIONAL: Foamex LP's Schedules of Assets and Debts
FOAMEX INT'L: Foamex Mexico's Schedules of Assets and Debts
FOAMEX INT'L: Foamex Mexico II's Schedules of Assets and Debts
FRESH CHOICE: Posts $320,082 Net Loss in Four Weeks Ended Oct. 2
INTERMET CORP: Posts $8.6 Million Net Loss in September 2005
SONICBLUE INC: Files September 2005 Monthly Operating Report
XYBERNAUT CORP: Posts $607,402 Net Loss in September 2005
*********
ADELPHIA COMMS: Posts $85.6 Million Net Loss in September 2005
--------------------------------------------------------------
Adelphia Communications Corporation, et al.
Unaudited Consolidated Balance Sheet
As of September 30, 2005
(Dollars in thousands)
ASSETS
Cash and cash equivalents $326,022
Restricted cash 21,889
Accounts receivables - net 95,647
Receivable for securities 23,529
Other current assets 190,522
-----------
Total current assets 657,609
Restricted cash 3,027
Investments in equity affiliates 227,774
Receivables from non-filing entities 763,199
Property, plant and equipment - net 4,240,114
Intangible assets - net 7,073,559
Other noncurrent assets - net 95,393
-----------
Total Assets $13,060,675
===========
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable $82,370
Subscriber advance payments and deposits 31,440
Accrued liabilities 536,901
Deferred income 24,248
Current portion of parent and subsidiary debt 810,905
-----------
Total current liabilities 1,485,864
Other liabilities 34,900
Deferred income 62,416
Deferred income taxes 827,157
-----------
Total noncurrent liabilities 924,473
Liabilities subject to compromise 18,466,033
-----------
Total liabilities 20,876,370
Minority interests in equity of subsidiary 74,986
Stockholders' equity:
Series preferred stock 397
Class A and Class B common stock 2,548
Additional paid-in capital 9,565,470
Accumulated other comprehensive income 42
Accumulated deficit (17,431,201)
Treasury stock, at cost (27,937)
-----------
Total stockholders' equity (7,890,681)
-----------
Total liabilities and stockholders' equity $13,060,675
===========
Adelphia Communications Corporation, et al.
Unaudited Consolidated Statements of Operations
Month Ended September 30, 2005
(Dollars in thousands)
Revenue $344,018
Cost and expenses:
Direct operating and programming 232,386
Selling, general and administrative 12,603
Investigation, re-audit and sale transaction co 10,575
Depreciation and amortization 66,264
Impairment of long-lived assets 14,604
Provision for uncollectible amounts from Rigases 9,500
Gains on dispositions of long-lived assets -
-----------
Operating income (loss) (1,914)
Other income (expense):
Interest expense (38,620)
Impairment of cost & available for sale investments -
Other income (expense) - net 94
-----------
Total other expense - net (38,526)
-----------
Loss from continuing operations before
reorganization (40,440)
Reorganization expenses due to bankruptcy (7,955)
-----------
Loss from continuing operations before income taxes (48,395)
Income tax expense (37,800)
Share of losses of equity affiliates - net 307
Minority's interest in subsidiary losses - net 287
-----------
Net loss ($85,601)
===========
Adelphia Communications Corporation, et al.
Unaudited Consolidated Statements of Cash Flows
For the Month Ended September 30, 2005
(Dollars in thousands)
Cash flows from operating activities:
Net loss ($85,601)
Adjustments to reconcile net loss to net cash
provided by (used in) operating activities:
Depreciation and amortization 66,264
Impairment of long-lived assets 14,604
Provision for uncollectible amounts from Rig 9,500
Amortization of debt issuance costs 276
Impairment of cost & available for sale investments -
Provision for settlements -
Reorganization expenses due to bankruptcy 7,955
Deferred tax expense 37,800
Share in losses of equity affiliates - net (307)
Minority interest in losses of subsidiaries (287)
Other noncash gains (272)
Depreciation, amortization and other non-cash
items from discontinued operations -
Change in operating assets & liabilities 9,899
-----------
Net cash provided by operating activities before
payment of reorganization expenses 59,831
Reorganization expenses paid during the period (5,071)
-----------
Net cash provided by (used in) operating activities 54,760
Cash flows from investing activities:
Expenditures for property, plant and equipment (49,519)
Changes in restricted cash (554)
Other 5,646
-----------
Net cash used in investing activities (44,427)
Cash flows from financing activities:
Proceeds from debt 18,000
Repayments of debt (1,344)
Payment of debt issuance costs -
-----------
Net cash provided by financing activities 16,656
Change in cash and cash equivalents cash 26,989
Cash, beginning of period 299,033
-----------
Cash, end of period $326,022
===========
Headquartered in Coudersport, Pennsylvania, Adelphia
Communications Corporation (OTC: ADELQ) is the fifth-largest cable
television company in the country. Adelphia serves customers in
30 states and Puerto Rico, and offers analog and digital video
services, high-speed Internet access and other advanced services
over its broadband networks. The Company and its more than 200
affiliates filed for Chapter 11 protection in the Southern
District of New York on June 25, 2002. Those cases are jointly
administered under case number 02-41729. Willkie Farr & Gallagher
represents the ACOM Debtors. (Adelphia Bankruptcy News, Issue
No. 111; Bankruptcy Creditors' Service, Inc., 215/945-7000)
ADELPHIA COMMS: Century/ML's Sept. 2005 Monthly Operating Report
----------------------------------------------------------------
Century-ML Cable Venture
(Debtor-In-Possession)
Unaudited Balance Sheet
As of September 30, 2005
(Dollars in thousands)
ASSETS
Cash and cash equivalents $20,317
Subscriber receivables - net 262
Investment in Century-ML Corporation 123,081
Related-party receivables 3,811
Other current assets 1,172
--------
Total current assets 148,643
Property, plant and equipment - net 4,853
Intangible assets, net 1,508
--------
Total assets $155,004
========
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable $203
Subscriber advance payments and deposits 93
Accrued expenses and other liabilities 3,527
Intercompany payables 5,186
--------
Total current liabilities 9,009
--------
Long-term accrued and other liabilities
Deferred revenues 136
Deferred income taxes 5
--------
Total non-current liabilities 141
Liabilities subject to compromise:
Accrued expenses and other liabilities 384
Intercompany payables 11,423
--------
Total liabilities subject to compromise 11,807
--------
Total liabilities 20,957
--------
Partners' equity:
Partners' contributions 56,800
Partners' retained earnings 77,247
--------
Total partners' equity 134,047
--------
Total liabilities and partners' equity $155,004
========
Century-ML Cable Venture
(Debtor-In-Possession)
Unaudited Statement of Operations
For the Month Ended September 30, 2005
(Dollars in thousands)
Revenue $1,079
Cost and expenses:
Direct operating and programming 549
Selling, general and administrative 100
Management fees 34
Non-recurring professional fees -
Depreciation 62
--------
Operating income 334
Other income:
Interest income, net 45
Equity in net income of Century-ML Cable
Corporation, net of taxes 1,612
--------
Income before reorganization expenses 1,991
Reorganization expenses due to bankruptcy (84)
--------
Income before income taxes 1,907
Income tax expense (73)
--------
Net income $1,834
========
Century-ML Cable Venture
(Debtor-In-Possession)
Unaudited Statement of Cash Flows
For the Month Ended September 30, 2005
(Dollars in thousands)
Cash flow from operating activities:
Net income $1,834
Adjustments to reconcile net income
to net cash provided by (used in)
operating activities:
Depreciation 62
Reorganization expenses due to bankruptcy 84
Non-recurring professional fees -
Equity in net income of Century-ML Cable
Corp., net of taxes (1,612)
Change in assets and liabilities: 357
--------
725
Reorganization expenses during the period (333)
--------
Net cash provided by operating activities 392
Cash flows from investing activities:
Expenditures from property, plant and equipment (5)
--------
Net cash used in investing activities (5)
--------
Change in cash and cash equivalents 387
Cash and cash equivalents, beginning of period 19,930
--------
Cash and cash equivalents, end of period $20,317
========
Century Communications Corporation filed for Chapter 11 protection
on June 10, 2002. Century's case has been jointly administered to
proceedings of Adelphia Communications Corporation. Century
operates cable television services in Colorado, California and
Puerto Rico. CENTURY is an indirect wholly owned subsidiary of
ACOM and an affiliate of Adelphia Business Solutions, Inc.
Lawyers at Willkie, Farr & Gallagher represent CENTURY.
Headquartered in Coudersport, Pennsylvania, Adelphia
Communications Corporation (OTC: ADELQ) is the fifth-largest cable
television company in the country. Adelphia serves customers in
30 states and Puerto Rico, and offers analog and digital video
services, high-speed Internet access and other advanced services
over its broadband networks. The Company and its more than
200 affiliates filed for Chapter 11 protection in the Southern
District of New York on June 25, 2002. Those cases are jointly
administered under case number 02-41729. Willkie Farr & Gallagher
represents the ACOM Debtors. (Adelphia Bankruptcy News, Issue No.
111; Bankruptcy Creditors' Service, Inc., 215/945-7000)
AOL LATIN: Files Monthly Operating Report for August 2005
---------------------------------------------------------
On Oct. 17, 2005, America Online Latin America, Inc., and its
debtor-affiliates, filed their monthly operating report for the
month ended August 2005, with the United States Bankruptcy
Court for the District of Delaware.
For the month ending Aug. 31, 2005, the Company's Income Statement
shows:
Net Income/
Revenue Net Loss
------- -----------
America Online Latin $0 ($2,536,888)
America, Inc.
AOL Latin America Management, $2,556,775 $2,000,056
LLC
AOL Puerto Rico Management $77,056 ($115,135)
Services, Inc.
America Online Caribbean Basin, $1,048,307 $479,969
Inc.
At Aug. 31, 2005, the Company's balance sheet shows:
America Online Latin America, Inc.
__________________________________
Current Assets $17,845,358
Total Assets 703,123,113
Current Liabilities 6,259,080
Total Liabilities 166,259,080
Total Stockholders' Equity $536,864,033
AOL Latin America Management, LLC
_________________________________
Current Assets $6,135,201
Total Assets 6,433,215
Current Liabilities 17,608,939
Total Liabilities 17,608,939
Total Stockholders' Deficit ($11,175,724)
AOL Puerto Rico Management Services, Inc.
_________________________________________
Current Assets $134,628
Total Assets 282,957
Current Liabilities 5,954,146
Total Liabilities 5,975,625
Total Stockholders' Equity Deficit ($5,692,321)
America Online Caribbean Basin, Inc.
____________________________________
Current Assets $18,263,749
Total Assets 18,283,899
Current Liabilities (960,387)
Total Liabilities (960,387)
Total Stockholders' Equity Deficit $19,244,285
A full-text copy of America Online Latin America, Inc., and its
debtor-affiliates' Monthly Operating Report for the month ended
August 2005, is available at no charge at:
http://ResearchArchives.com/t/s?28a
Headquartered in Fort Lauderdale, Florida, America Online Latin
America, Inc. -- http://www.aola.com/-- offers AOL-branded
Internet service in Argentina, Brazil, Mexico, and Puerto Rico, as
well as localized content and online shopping over its proprietary
network. Principal shareholders in AOLA are Cisneros Group, one
of Latin America's largest media firms, Brazil's Banco Itau, and
Time Warner, through America Online. The Company and its debtor-
affiliates filed for chapter 11 protection on June 24, 2005
(Bankr. D. Del. Case No. 05-11778). Pauline K. Morgan, Esq., and
Edmon L. Morton, Esq., at Young Conaway Stargatt & Taylor, LLP and
Douglas P. Bartner, Esq., at Shearman & Sterling LLP represent the
Debtors in their restructuring efforts. When the Debtors filed
for protection from their creditors, they listed total assets of
$28,500,000 and total debts of $181,774,000.
ATA AIRLINES: Posts $53,000 Net Loss in August 2005
---------------------------------------------------
ATA Holdings Corp. and Subsidiaries
Unaudited Balance Sheet
As of August 31, 2005
ASSETS
Current assets:
Cash and cash equivalents $81,712,000
Receivables,
net of allowance for doubtful accounts 129,278,000
Inventories, net 37,765,000
Assets Held for Sale 2,000,000
Prepaid expenses and other current assets 40,444,000
--------------
TOTAL CURRENT ASSETS 291,199,000
Property and equipment:
Flight equipment 178,533,000
Facilities and ground equipment 142,416,000
Accumulated depreciation (174,763,000)
--------------
TOTAL PROPERTY AND EQUIPMENT 146,186,000
Restricted cash 30,820,000
Goodwill 6,987,000
Prepaid aircraft rent 162,000
Investment in BATA 5,347,000
Deposits and other assets 25,855,000
--------------
TOTAL ASSETS $506,556,000
==============
LIABILITIES AND SHAREHOLDERS' DEFICIT
Current liabilities:
Short Term Debt 41,000,000
Accounts payable 3,931,000
Air traffic liabilities 85,006,000
Accrued expenses 137,545,000
--------------
Total current liabilities 267,482,000
Deferred items 31,881,000
Liabilities subject to compromise 1,512,317,000
Commitments and contingencies
Convertible redeemable preferred stock 30,000,000
Shareholders' deficit:
Preferred stock; authorized 9,999,200 shares; -
Common stock, without par value; authorized 66,013,000
Treasury stock; (24,778,000)
Additional paid-in capital 18,166,000
Accumulated deficit (1,394,525,000)
--------------
TOTAL SHAREHOLDERS' DEFICIT (1,335,124,000)
--------------
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT $506,556,000
==============
ATA Holdings Corp. and Subsidiaries
Unaudited Income Statement
For the Month Ended August 31, 2005
Operating revenues:
Scheduled service $62,561,000
Charter 37,027,000
Ground package 643,000
Other 2,696,000
--------------
TOTAL OPERATING REVENUES 102,927,000
Operating expenses:
Fuel and oil 30,620,000
Salaries, wages and benefits 23,118,000
Aircraft rentals 11,538,000
Handling, landing and navigation fees 6,716,000
Aircraft maintenance, materials and repairs 2,917,000
Crew and other employee travel 4,135,000
Depreciation and amortization 2,423,000
Passenger service 4,066,000
Other selling expenses 2,909,000
Commissions 2,324,000
Facilities and other rentals 996,000
Insurance 1,072,000
Ground package cost 470,000
Advertising 618,000
Aircraft impairments and retirements 0
Other 7,346,000
--------------
TOTAL OPERATING EXPENSES 101,268,000
--------------
Operating income (loss) 1,659,000
Other income (expense):
Interest income 232,000
Interest expense (542,000)
Reorganization expenses (1,301,000)
Other (101,000)
--------------
TOTAL OTHER EXPENSE (1,712,000)
--------------
Income (loss) before income taxes (53,000)
Income taxes -
--------------
Net income (loss) ($53,000)
==============
ATA Holdings Corp. and Subsidiaries
Cash Flow Report
For the Month Ended August 31, 2005
Cash Flows from Operating Activities:
Net income before reorganization expenses $1,248,000
Adjustments to reconcile net income:
Depreciation and amortization 2,423,000
Other non-cash items 909,000
Changes in operating assets and liabilities:
Receivables 1,466,000
Inventories 1,607,000
Prepaid expenses (7,755,000)
Accounts payable (635,000)
Air traffic liabilities (1,952,000)
Liabilities subject to compromise (3,313,000)
Accrued expenses 1,053,000
--------------
NET CASH (USED IN) OPERATING ACTIVITIES (4,949,000)
Cash Flows from Reorganization Activities:
Reorganization items, net (1,301,000)
Prepaid expenses 11,000
Accrued Expenses (553,000)
Receivables (69,000)
Other non-cash items (256,000)
--------------
NET CASH (USED IN) REORGANIZATION ACTIVITIES (2,618,000)
Cash Flows from Investing activities:
Capital expenditures (5,777,000)
Noncurrent prepaid aircraft rent 9,000
Additions to other assets (378,000)
Proceeds from sales of property and equipment 243,000
--------------
NET CASH (USED IN) INVESTING ACTIVITIES (5,903,000)
Cash Flows from Financing activities:
Increase in restricted cash 520,000
--------------
NET CASH (USED IN) FINANCING ACTIVITIES 520,000
--------------
Decrease in cash and cash equivalents (13,540,000)
Cash and cash equivalents, beginning of period 95,252,000
--------------
Cash and cash equivalents, end of period $81,712,000
==============
Headquartered in Indianapolis, Indiana, ATA Airlines, owned by ATA
Holdings Corp. -- http://www.ata.com/-- is the nation's 10th
largest passenger carrier (based on revenue passenger miles) and
one of the nation's largest low-fare carriers. ATA has one of the
youngest, most fuel-efficient fleets among the major carriers,
featuring the new Boeing 737-800 and 757-300 aircraft. The
airline operates significant scheduled service from Chicago-
Midway, Hawaii, Indianapolis, New York and San Francisco to over
40 business and vacation destinations. Stock of parent company,
ATA Holdings Corp., is traded on the Nasdaq Stock Exchange. The
Company and its debtor-affiliates filed for chapter 11 protection
on Oct. 26, 2004 (Bankr. S.D. Ind. Case Nos. 04-19866, 04-19868
through 04-19874). Terry E. Hall, Esq., at Baker & Daniels,
represents the Debtors in their restructuring efforts. When the
Debtors filed for protection from their creditors, they listed
$745,159,000 in total assets and $940,521,000 in total debts.
(ATA Airlines Bankruptcy News, Issue No. 38; Bankruptcy Creditors'
Service, Inc., 215/945-7000)
FOAMEX INTERNATIONAL: Files Schedules of Assets and Debts
---------------------------------------------------------
A. Real Property $0
B. Personal Property
B.1 Cash on hand 0
B.2 Bank Accounts
Master Funding Acct. - Bank of America, Dallas 432
Accounts Payable - Bank of America, Atlanta 0
B.3 Security Deposits 0
B.4 Household Goods 0
B.5 Collectibles 0
B.6 Wearing Apparel 0
B.7 Furs and jewelry 0
B.8 Interests in insurance policies 0
B.9 Interests in Insurance Policies 0
B.10 Annuities 0
B.11 Interests in pension or profit sharing plans 0
B.12 Stock and interests Unknown
B.13 Interests in partnerships or joint ventures Unknown
B.14 Government and Corporate Bonds 0
B.15 Accounts Receivable 0
B.16 Alimony 0
B.17 Other liquidated debts 0
B.18 Equitable or future interests 0
B.19 Interest in estate of a decedent 0
B.20 Other Contingent & Unliquidated Claims 0
B.21 Intellectual Property 0
B.22 General Intangibles 0
B.23 Vehicles 0
B.24 Boats, motors and accessories 0
B.25 Aircraft and accessories 0
B.26 Office Equipment 0
B.27 Machinery, fixtures, equipment and supplies 0
B.28 Inventory 0
B.29 Animals 0
B.30 Crops 0
B.31 Farming equipment and implements 0
B.32 Farm supplies, chemicals and feed 0
B.33 Other Personal Property 0
TOTAL SCHEDULED ASSETS $432
=====
C. Property Claimed as Exempt Not applicable
D. Secured Claim
Bank of America $195,985,108
Silver Point Finance LLC 80,000,000
E. Unsecured Priority Claims Not applicable
F. Unsecured Non-priority Claims
Foamex Asia Co., Ltd. 500,000
Foamex Asia Co., Ltd. 200,000
TOTAL SCHEDULED LIABILITIES $276,685,108
=============
Headquartered in Linwood, Pa., Foamex International Inc. --
http://www.foamex.com/-- is the world's leading producer of
comfort cushioning for bedding, furniture, carpet cushion and
automotive markets. The Company also manufactures high-
performance polymers for diverse applications in the industrial,
aerospace, defense, electronics and computer industries. The
Company and eight affiliates filed for chapter 11 protection on
Sept. 19, 2005 (Bankr. Del. Case Nos. 05-12685 through 05-12693).
Attorneys at Paul, Weiss, Rifkind, Wharton & Garrison LLP,
represent the Debtors in their restructuring efforts. Houlihan,
Lokey, Howard and Zukin and O'Melveny & Myers LLP are advising the
ad hoc committee of Senior Secured Noteholders. As of July 3,
2005, the Debtors reported $620,826,000 in total assets and
$744,757,000 in total debts. (Foamex International Bankruptcy
News, Issue No. 5; Bankruptcy Creditors' Service, Inc.,
215/945-7000)
FOMAEX INTERNATIONAL: FMXI Inc.'s Schedules of Assets and Debts
---------------------------------------------------------------
A. Real Property $0
B. Personal Property
B.3 Security Deposits 2,977
B.13 Interests in partnerships or joint ventures Unknown
TOTAL SCHEDULED ASSETS $2,977
=======
C. Property Claimed as Exempt Not Applicable
D. Secured Claim
Bank of America $195,985,108
Silver Point Finance LLC 80,000,000
E. Unsecured Priority Claims Unknown
F. Unsecured Non-priority Claims 0
TOTAL SCHEDULED LIABILITIES $275,985,108
=============
Headquartered in Linwood, Pa., Foamex International Inc. --
http://www.foamex.com/-- is the world's leading producer of
comfort cushioning for bedding, furniture, carpet cushion and
automotive markets. The Company also manufactures high-
performance polymers for diverse applications in the industrial,
aerospace, defense, electronics and computer industries. The
Company and eight affiliates filed for chapter 11 protection on
Sept. 19, 2005 (Bankr. Del. Case Nos. 05-12685 through 05-12693).
Attorneys at Paul, Weiss, Rifkind, Wharton & Garrison LLP,
represent the Debtors in their restructuring efforts. Houlihan,
Lokey, Howard and Zukin and O'Melveny & Myers LLP are advising the
ad hoc committee of Senior Secured Noteholders. As of July 3,
2005, the Debtors reported $620,826,000 in total assets and
$744,757,000 in total debts. (Foamex International Bankruptcy
News, Issue No. 5; Bankruptcy Creditors' Service, Inc.,
215/945-7000)
FOAMEX INT'L: Foamex Asia Inc.'s Schedules of Assets and Debts
--------------------------------------------------------------
A. Real Property $0
B. Personal Property
B.13 Interests in partnerships or joint ventures Unknown
B.17 Other Liquidated Debts
Note Receivable - Foamex Asia Co., Ltd. 4,971,208
TOTAL SCHEDULED ASSETS $4,971,208
===========
C. Property Claimed as Exempt Not applicable
D. Secured Claim
Bank of America $195,985,108
Silver Point Finance LLC 80,000,000
E. Unsecured Priority Claims
F. Unsecured Non-priority Claims
The Bank of New York 200,085,000
Hua Kee Company Ltd. 850,500
TOTAL SCHEDULED LIABILITIES $476,920,608
=============
Headquartered in Linwood, Pa., Foamex International Inc. --
http://www.foamex.com/-- is the world's leading producer of
comfort cushioning for bedding, furniture, carpet cushion and
automotive markets. The Company also manufactures high-
performance polymers for diverse applications in the industrial,
aerospace, defense, electronics and computer industries. The
Company and eight affiliates filed for chapter 11 protection on
Sept. 19, 2005 (Bankr. Del. Case Nos. 05-12685 through 05-12693).
Attorneys at Paul, Weiss, Rifkind, Wharton & Garrison LLP,
represent the Debtors in their restructuring efforts. Houlihan,
Lokey, Howard and Zukin and O'Melveny & Myers LLP are advising the
ad hoc committee of Senior Secured Noteholders. As of July 3,
2005, the Debtors reported $620,826,000 in total assets and
$744,757,000 in total debts. (Foamex International Bankruptcy
News, Issue No. 5; Bankruptcy Creditors' Service, Inc.,
215/945-7000)
FOAMEX INT'L: Foamex Capital Corp.'s Schedules of Assets & Debts
----------------------------------------------------------------
A. Real Property $0
B. Personal Property
B.2 Bank Accounts
Checking Account - Citibank Delaware 1,000
B.13 Interests in partnerships or joint ventures Unknown
TOTAL SCHEDULED ASSETS $1,000
=======
C. Property Claimed as Exempt $0
D. Secured Claim
Bank of America 195,985,108
Silver Point Finance LLC 80,000,000
E. Unsecured Priority Claims 0
F. Unsecured Non-priority Claims
The Bank of New York 200,085,000
TOTAL SCHEDULED LIABILITIES $476,070,108
=============
Headquartered in Linwood, Pa., Foamex International Inc. --
http://www.foamex.com/-- is the world's leading producer of
comfort cushioning for bedding, furniture, carpet cushion and
automotive markets. The Company also manufactures high-
performance polymers for diverse applications in the industrial,
aerospace, defense, electronics and computer industries. The
Company and eight affiliates filed for chapter 11 protection on
Sept. 19, 2005 (Bankr. Del. Case Nos. 05-12685 through 05-12693).
Attorneys at Paul, Weiss, Rifkind, Wharton & Garrison LLP,
represent the Debtors in their restructuring efforts. Houlihan,
Lokey, Howard and Zukin and O'Melveny & Myers LLP are advising the
ad hoc committee of Senior Secured Noteholders. As of July 3,
2005, the Debtors reported $620,826,000 in total assets and
$744,757,000 in total debts. (Foamex International Bankruptcy
News, Issue No. 5; Bankruptcy Creditors' Service, Inc.,
215/945-7000)
FOAMEX INTERNATIONAL: Carpet Cushion's Schedules of Assets & Debts
------------------------------------------------------------------
A. Real Property $0
B. Personal Property
B.13 Interests in partnerships or joint ventures Unknown
TOTAL SCHEDULED ASSETS $0
=====
C. Property Claimed as Exempt $0
D. Secured Claim
Bank of America 195,985,108
Silver Point Finance LLC 80,000,000
E. Unsecured Priority Claims 0
F. Unsecured Non-priority Claims
The Bank of New York 200,085,000
TOTAL SCHEDULED LIABILITIES $476,070,108
=============
Headquartered in Linwood, Pa., Foamex International Inc. --
http://www.foamex.com/-- is the world's leading producer of
comfort cushioning for bedding, furniture, carpet cushion and
automotive markets. The Company also manufactures high-
performance polymers for diverse applications in the industrial,
aerospace, defense, electronics and computer industries. The
Company and eight affiliates filed for chapter 11 protection on
Sept. 19, 2005 (Bankr. Del. Case Nos. 05-12685 through 05-12693).
Attorneys at Paul, Weiss, Rifkind, Wharton & Garrison LLP,
represent the Debtors in their restructuring efforts. Houlihan,
Lokey, Howard and Zukin and O'Melveny & Myers LLP are advising the
ad hoc committee of Senior Secured Noteholders. As of July 3,
2005, the Debtors reported $620,826,000 in total assets and
$744,757,000 in total debts. (Foamex International Bankruptcy
News, Issue No. 5; Bankruptcy Creditors' Service, Inc.,
215/945-7000)
FOAMEX INT'L: Foamex Latin America's Schedules of Assets & Debts
----------------------------------------------------------------
A. Real Property $0
B. Personal Property Unknown
B.13 Interests in partnerships or joint ventures Unknown
TOTAL SCHEDULED ASSETS $0
====
C. Property Claimed as Exempt
D. Secured Claim
Bank of America 195,985,108
Silver Point Finance LLC 80,000,000
E. Unsecured Priority Claims
F. Unsecured Non-priority Claims
The Bank of New York 200,085,000
TOTAL SCHEDULED LIABILITIES $476,070,108
=============
Headquartered in Linwood, Pa., Foamex International Inc. --
http://www.foamex.com/-- is the world's leading producer of
comfort cushioning for bedding, furniture, carpet cushion and
automotive markets. The Company also manufactures high-
performance polymers for diverse applications in the industrial,
aerospace, defense, electronics and computer industries. The
Company and eight affiliates filed for chapter 11 protection on
Sept. 19, 2005 (Bankr. Del. Case Nos. 05-12685 through 05-12693).
Attorneys at Paul, Weiss, Rifkind, Wharton & Garrison LLP,
represent the Debtors in their restructuring efforts. Houlihan,
Lokey, Howard and Zukin and O'Melveny & Myers LLP are advising the
ad hoc committee of Senior Secured Noteholders. As of July 3,
2005, the Debtors reported $620,826,000 in total assets and
$744,757,000 in total debts. (Foamex International Bankruptcy
News, Issue No. 5; Bankruptcy Creditors' Service, Inc.,
215/945-7000)
FOAMEX INTERNATIONAL: Foamex LP's Schedules of Assets and Debts
---------------------------------------------------------------
A. Real Property
Eddystone, Pennsylvania $7,000,000
Fort Wayne, Indiana 2,440,000
Auburn, Indiana 3,470,000
Conover Fab, North Carolina 1,040,000
Cornelius, North Carolina 4,100,000
Corry, Pennsylvania 2,800,000
Elkhart, Indiana 1,890,000
Morristown Main, Tennessee 3,050,000
Orlando, Florida 5,250,000
Williamsport, Pennsylvania 1,000,000
Morristown Blending, Tennessee 750,000
Cookeville, Tennessee 450,000
LaPorte, Indiana 2,550,000
Omaha, Nebraska 850,000
Conover, North Carolina 570,000
B. Personal Property
B.1 Cash on hand
Petty Cash 20,840
B.2 Bank Accounts
Lockbox Accounts
Bank One -- Detroit, MI 46,797
Citibank 3,425,991
Master Depository Account
Bank of America -- Dallas, TX 347,888
Disbursement Accounts
Wachovia Bank -- Philadelphia, PA 118
Citibank 3,248
Master Funding Accounts
Bank of America, Atlanta, GA 1,996,379
Plant Working Fund 44,344
B.3 Security Deposits
Short Term Security Deposits 11,193,543
Long Term Security Deposits 4,515,861
B.5 Collectibles Unknown
B.9 Interests in Insurance Policies
Northwestern Mutual Life Insurance 679,410
MassMutual - Terry Kall 93,231
B.13 Interests in partnerships or joint ventures Unknown
B.14 Government and Corporate Bonds Unknown
B.15 Accounts Receivable 190,856,660
B.17 Other Liquidated Debts
Compton Fire Claim 660,547
Tennessee Franchise Tax Refund 29,298
Massachusetts Sales Tax Refunds Claimed 6,502
B.20 Other Contingent & Unliquidated Claims Unknown
B.21 Intellectual Property Unknown
B.22 General Intangibles Unknown
B.23 Vehicles
Eddystone, Pennsylvania 116,250
Santa Teresa, New Mexico 52,500
Auburn, Indiana 130,000
Cookeville, Tennessee 20,520
Cornelius, North Carolina 41,700
Corry, Pennsylvania 55,000
Morristown, Tennessee 48,425
Orlando, Florida 31,950
Pontotoc, Mississippi 45,789
Tupelo, Mississippi 129,902
Compton, California 174,525
Kent, Washington 36,000
Orange, California 58,250
Phoenix, Arizona 50,750
San Leandro, California 60,600
Stockertown, Pennsylvania 92,000
Others 190,507
B.26 Office Equipment Unknown
B.27 Machinery
San Leandro, Pennsylvania 1,757,503
East Rutherford, New Jersey 1,889,331
Eddystone, Pennsylvania 4,009,480
Fort Wayne, Indiana 6,222,112
Juarez, Mexico 1,725,159
Morristown, Tennessee 1,921,326
Santa Teresa, New Mexico 2,738,705
Auburn, Indiana 8,775,580
Cornelius, North Carolina 5,469,238
Corry, Pennsylvania 2,589,325
LaPorte, Indiana 2,741,085
Milan, Tennessee 2,758,889
Orlando, Florida 3,399,670
Compton, California 1,454,155
Orange, California 4,144,954
Others 10,460,867
B.28 Inventory
Juarez, Mexico 4,057,402
Tupelo, Mississippi 4,816,405
Fort Wayne, Indiana 6,914,552
Santa Teresa, New Mexico 8,126,290
Auburn, Indiana 7,192,596
Cornelius, North Carolina 4,430,525
Corry, Pennsylvania 4,199,703
Compton, California 4,593,161
Orange, California 8,438,198
Others 35,760,089
TOTAL SCHEDULED ASSETS $403,051,625*
=============
C. Property Claimed as Exempt Not Applicable
D. Secured Claim
Bank of America 195,985,108
Silver Point Finance LLC 80,000,000
U.S. Bank National Association 300,000,000
HSBC Bank 1,000,000
Deutsche Bank Trust Company 6,000,000
E. Unsecured Priority Claims
Employee Wages 4,793,634
Foamex LP Pension Plan 1,282,505
Fidelity Management Trust 198,000
Sales and Use Tax
Arkansas 93,000
California 175,000
Florida 13,000
Missouri 10,000
Nevada 34,000
Washington 12,000
Others 42,546
Property Tax
Treasurer of Allen County 388,161
Dekalb County Treasurer 355,922
Orange County Tax Collector, Santa 199,520
Lee County Tax Collector 184,895
Orange County Tax Collector, Orland 176,928
Ridley School District 162,644
Alameda County Tax Collector 112,390
Mecklenburg County Tax Collector 105,233
Los Angeles County Tax Collector 100,388
LaPorte County Treasurer 92,304
Tax Assessor-Collector 74,595
Corry City Treasurer 57,431
Leland Yoss 52,342
Elkhart County Treasurer 43,896
Hamblen County Trustee 41,474
Catawba County Tax Collector 38,379
Dona Ana County Treasurer 31,000
King County Tax Collector 29,835
Gibson County Trustee 27,500
Douglas County Treasurer 21,086
City of Morristown 19,014
Others 283,019
Cellofoam 2,225
J.H. McCann & Co. LLC 2,225
Kaneka Texas Corporation 2,225
F. Unsecured Non-priority Claims
Pension Benefit Guaranty Corporation Unknown
The Bank of New York 200,085,000
TOTAL SCHEDULED LIABILITIES $792,328,424
=============
* Foamex LP reported on the Summary of Scheduled cover sheet to
its Schedules of Assets and Liabilities that its scheduled
assets total $316,192,178. This tabulation excluded $88.5
million in Inventory and a handful of de minimis discrepancies.
Foamex LP's scheduled assets total $403,051,625 according to our
calculations based on the detailed sub-schedules delivered by
the Debtor to the Bankruptcy Court.
Headquartered in Linwood, Pa., Foamex International Inc. --
http://www.foamex.com/-- is the world's leading producer of
comfort cushioning for bedding, furniture, carpet cushion and
automotive markets. The Company also manufactures high-
performance polymers for diverse applications in the industrial,
aerospace, defense, electronics and computer industries. The
Company and eight affiliates filed for chapter 11 protection on
Sept. 19, 2005 (Bankr. Del. Case Nos. 05-12685 through 05-12693).
Attorneys at Paul, Weiss, Rifkind, Wharton & Garrison LLP,
represent the Debtors in their restructuring efforts. Houlihan,
Lokey, Howard and Zukin and O'Melveny & Myers LLP are advising the
ad hoc committee of Senior Secured Noteholders. As of July 3,
2005, the Debtors reported $620,826,000 in total assets and
$744,757,000 in total debts. (Foamex International Bankruptcy
News, Issue No. 5; Bankruptcy Creditors' Service, Inc.,
215/945-7000)
FOAMEX INT'L: Foamex Mexico's Schedules of Assets and Debts
-----------------------------------------------------------
A. Real Property $0
B. Personal Property Unknown
TOTAL SCHEDULED ASSETS Unknown
========
C. Property Claimed as Exempt Not Applicable
D. Secured Claim
Bank of America $195,985,108
Silver Point Finance LLC 80,000,000
E. Unsecured Priority Claims 0
F. Unsecured Non-priority Claims
The Bank of New York 200,085,000
TOTAL SCHEDULED LIABILITIES $476,070,108
=============
Headquartered in Linwood, Pa., Foamex International Inc. --
http://www.foamex.com/-- is the world's leading producer of
comfort cushioning for bedding, furniture, carpet cushion and
automotive markets. The Company also manufactures high-
performance polymers for diverse applications in the industrial,
aerospace, defense, electronics and computer industries. The
Company and eight affiliates filed for chapter 11 protection on
Sept. 19, 2005 (Bankr. Del. Case Nos. 05-12685 through 05-12693).
Attorneys at Paul, Weiss, Rifkind, Wharton & Garrison LLP,
represent the Debtors in their restructuring efforts. Houlihan,
Lokey, Howard and Zukin and O'Melveny & Myers LLP are advising the
ad hoc committee of Senior Secured Noteholders. As of July 3,
2005, the Debtors reported $620,826,000 in total assets and
$744,757,000 in total debts. (Foamex International Bankruptcy
News, Issue No. 5; Bankruptcy Creditors' Service, Inc.,
215/945-7000)
FOAMEX INT'L: Foamex Mexico II's Schedules of Assets and Debts
--------------------------------------------------------------
A. Real Property $0
B. Personal Property Unknown
TOTAL SCHEDULED ASSETS $0
====
C. Property Claimed as Exempt Not Applicable
D. Secured Claim
Bank of America 195,985,108
Silver Point Finance LLC 80,000,000
E. Unsecured Priority Claims 0
F. Unsecured Non-priority Claims
The Bank of New York 200,085,000
TOTAL SCHEDULED LIABILITIES $476,070,108
=============
Headquartered in Linwood, Pa., Foamex International Inc. --
http://www.foamex.com/-- is the world's leading producer of
comfort cushioning for bedding, furniture, carpet cushion and
automotive markets. The Company also manufactures high-
performance polymers for diverse applications in the industrial,
aerospace, defense, electronics and computer industries. The
Company and eight affiliates filed for chapter 11 protection on
Sept. 19, 2005 (Bankr. Del. Case Nos. 05-12685 through 05-12693).
Attorneys at Paul, Weiss, Rifkind, Wharton & Garrison LLP,
represent the Debtors in their restructuring efforts. Houlihan,
Lokey, Howard and Zukin and O'Melveny & Myers LLP are advising the
ad hoc committee of Senior Secured Noteholders. As of July 3,
2005, the Debtors reported $620,826,000 in total assets and
$744,757,000 in total debts. (Foamex International Bankruptcy
News, Issue No. 5; Bankruptcy Creditors' Service, Inc.,
215/945-7000)
FRESH CHOICE: Posts $320,082 Net Loss in Four Weeks Ended Oct. 2
----------------------------------------------------------------
On Oct. 21, 2005, Fresh Choice, Inc., filed its monthly operating
report for the four-week period ended Oct. 2, 2005, with the
United States Bankruptcy Court for the Northern District of
California.
The Company reported a $320,082 net loss in $3,857,928 of gross
sales for the four-week period ended Oct. 2, 2005.
At Oct. 2, 2005, Fresh Choice, Inc.'s balance sheet shows:
Current Assets $3,297,018
Total Assets 17,471,303
Current Liabilities 6,503,830
Total Prepetition Liabilities 10,862,897
Total Liabilities 19,202,341
Total Stockholders' Equity Deficit ($1,731,038)
A full-text copy of Fresh Choice, Inc.'s Monthly Operating Report
for the four-week period ended Oct. 2, 2005, is available at no
charge at http://ResearchArchives.com/t/s?291
Headquartered in Morgan Hill, California, Fresh Choice, Inc. --
http://www.freshchoice.com/-- owns and operates a chain of more
than 40 salad bar eateries, mostly located in California. The
company filed for chapter 11 protection on July 12, 2004 (Bankr.
N.D. Calif. Case No. 04-54318). Debra I. Grassgreen, Esq., at
Pachulski, Stang, Ziehl, Young, Jones & Weintraub P.C. represents
the Debtor in its restructuring efforts. When the Debtor filed
for protection from its creditors, it listed $29,651,000 in total
assets and $14,348,000 in total debts.
INTERMET CORP: Posts $8.6 Million Net Loss in September 2005
------------------------------------------------------------
On Oct. 20, 2005, Intermet Corporation and its debtor-affiliates
delivered their September 2005 monthly operating report to the
U.S. Bankruptcy Court for the Eastern District of Michigan.
For the month ending Sept. 30, 2005, Intermet Corporation reported
a net loss of $8,564,000 against $49,793,000 of net sales.
At Sept. 30, 2005, Intermet's balance sheet showed:
Current Assets $153,351,000
Total Assets 433,408,000
Postpetition Debts 34,661,000
Total Liabilities 614,937,000
Total Stockholders' Equity Deficit ($181,529,000)
A full-text copy of Intermet Corporation and its debtor-
affiliates' September 2005 Monthly Operating Report is available
at no charge at http://ResearchArchives.com/t/s?289
Headquartered in Troy, Michigan, Intermet Corporation --
http://www.intermet.com/-- provides machining and tooling
services for the automotive and industrial markets specializing in
the design and manufacture of highly engineered, cast automotive
components for the global light truck, passenger car, light
vehicle and heavy-duty vehicle markets. Intermet, along with its
debtor-affiliates, filed for chapter 11 protection on Sept. 29,
2004 (Bankr. E.D. Mich. Case Nos. 04-67597 through 04-67614).
Salvatore A. Barbatano, Esq., at Foley & Lardner LLP, represents
the Debtors. When the Debtors filed for protection from their
creditors, they listed $735,821,000 in total assets and
$592,816,000 in total debts.
SONICBLUE INC: Files September 2005 Monthly Operating Report
------------------------------------------------------------
At Sept. 30, 2005, SONICblue Incorporated reports that it is
sitting on $78,264,140 of cash, has accrued $997,806 in
postpetition liabilities and faces a $237,601,972 mountain of
prepetition debts.
A full-text copy of SONICblue Inc.'s September 2005 Operating
Report is available at no charge at
http://ResearchArchives.com/t/s?290
Headquartered in Santa Clara, California, SONICblue Incorporated
is involved in the converging Internet, digital media,
entertainment and consumer electronics markets. The Company,
together with three of its wholly owned subsidiaries, Diamond
Multimedia Systems, Inc., ReplayTV, Inc., and Sensory Science
Corporation, filed for chapter 11 protection on Mar. 21, 2003
(Bankr. N.D. Calif. Case Nos. 03-51775 to 03-51778). Craig A.
Barbarosh, Esq., at the LAw Offices of Pillsbury Winthrop,
represents the Debtors in their restructuring efforts. When the
Debtors filed for protection from their creditors, they listed
assets totaling $342,871,000 and debts totaling $335,473,000.
XYBERNAUT CORP: Posts $607,402 Net Loss in September 2005
---------------------------------------------------------
On Oct. 21, 2005, Xybernaut Corporation filed its monthly
operating report for the month of September 2005 with the U.S.
Bankruptcy Court for the Eastern District of Virginia, Alexandria
Division.
The company reported a $607,402 net loss on $403,074 of revenue
for the month of September 2005.
At Sept. 30, 2005, the Company's balance sheet reflects:
Total Assets $5,561,201
Total Liabilities 3,280,418
Stockholders' Equity $2,280,783
A full-text copy of Xybernaut Corporation's September 2005 Monthly
Operating Report is available at no charge at
http://ResearchArchives.com/t/s?28e
The Company's affiliate, Xybernaut Solutions, Inc., also filed its
monthly operating report for the month of September 2005 with the
U.S. Bankruptcy Court for the Eastern District of Virginia.
A full-text copy of Xybernaut Solution Inc.'s September 2005
Monthly Operating Report is available at no charge at
http://ResearchArchives.com/t/s?28f
Headquartered in Fairfax, Virginia, Xybernaut Corporation,
develops and markets small, wearable, mobile computing and
communications devices and a variety of other innovative products
and services all over the world. The corporation never turned a
profit in its 15-year history. The Company and its affiliate,
Xybernaut Solutions, Inc., filed for chapter 11 protection on
July 25, 2005 (Bankr. E.D. Va. Case Nos. 05-12801 and 05-12802).
John H. Maddock III, Esq., at McGuireWoods LLP, represents the
Debtors in their chapter 11 proceedings. When the Debtors filed
for protection from their creditors, they listed $40 million in
total assets and $3.2 million in total debts.
*********
Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par. Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable. Those sources may not,
however, be complete or accurate. The Monday Bond Pricing table
is compiled on the Friday prior to publication. Prices reported
are not intended to reflect actual trades. Prices for actual
trades are probably different. Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind. It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.
Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets. At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled. Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets. A company may establish reserves on its balance sheet for
liabilities that may never materialize. The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.
A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged. Send announcements to
conferences@bankrupt.com.
Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals. All titles are
available at your local bookstore or through Amazon.com. Go to
http://www.bankrupt.com/books/to order any title today.
Monthly Operating Reports are summarized in every Saturday edition
of the TCR.
For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911. For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.
*********
S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter is a daily newsletter co-published by
Bankruptcy Creditors' Service, Inc., Fairless Hills, Pennsylvania,
USA, and Beard Group, Inc., Frederick, Maryland USA. Yvonne L.
Metzler, Emi Rose S.R. Parcon, Rizande B. Delos Santos, Jazel P.
Laureno, Cherry Soriano-Baaclo, Marjorie Sabijon, Terence Patrick
F. Casquejo, Jason A. Nieva, Christian Q. Salta, Lucilo Junior M.
Pinili, Tara Marie Martin, and Peter A. Chapman, Editors.
Copyright 2005. All rights reserved. ISSN: 1520-9474.
This material is copyrighted and any commercial use, resale or
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re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers. Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.
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*** End of Transmission ***