Case 10-44131-JKO Doc 381 Filed 02/25/11 Page 1 of 79 /S/ Douglas A
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Case 10-44131-JKO Doc 381 Filed 02/25/11 Page 1 of 79 UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF FLORIDA www.flsb.uscourts.gov IN CASE NUMBER Gulfstream International Group, Inc Lead Case Number 10-44131-JKO LEAD DEBTOR. Gulfstream International Airlines, Inc. Case Number 10-44133 DEBTOR JUDGE The Honorable John K. Olson CHAPTER 11 DEBTOR'S STANDARD MONTHLY FINANCIAL REPORTS (BUSINESS) FOR THE PERIOD FROM JANUARY 1, 2011 TO JANUARY 31, 2011 Comes now the above-named debtor and files its Monthly Operating Reports in accordance with the Guidelines established by the United States Trustee and FRBP 2015. Attorney for Debtor's Signature Debtor's Address Attorney's Address and Phone Number: and Phone Number: Gulfstream International Airlines, Inc. Berger Singerman, P.A. 3201 Griffin Road, 4th Floor 350 East Las Olas Boulevard, Suite 1000 Fort Lauderdale, FL 33312 Fort Lauderdale, FL 33301 (954)-985-1500 (954)-525-9900 MOR-1 Case 10-44131-JKO Doc 381 Filed 02/25/11 Page 2 of 79 Case 10-44131-JKO Doc 381 Filed 02/25/11 Page 3 of 79 MONTHLYSCHEDULE OF RECEIPTS AND DISBURSEMENTS (cont'd) Detail of Other Receipts and Other Disbursements OTHER RECEIPTS: Describe Each Item of Other Receipts and List Amount of Receipt. Write totals on Page MOR-2, Line 2C. Please See MOR-3 Exhibit 1 for detail Cumulative Description Current Month Petition to Date GAC Credit Card Sales $ 40,569.76 $ 155,155.45 Victory Park DIP Loan 600,000.00 2,244,750.00 Transfer from GAC 430,000.00 1,185,000.00 SunTrust Interest 81.64 242.39 Positive Pay Rejection 10,500.29 Misc Deposits (See Detail) 31,109.48 123,458.28 - TOTAL OTHER RECEIPTS$ 1,101,760.88 $ 3,719,106.41 "Other Receipts" includes Loans from Insiders and other sources (i.e. Officer/Owner, related parties, directors, related corporations, etc.). Please describe below: Source of Repayment Loan Amount Funds Purpose Schedule OTHER DISBURSEMENTS: Describe Each Item of Other Disbursements and List Amount of Disbursement. Write totals on Page MOR-2, Line 5W Please See MOR-3 Exhibit 2 for detail. Cumulative Description Current Month Petition to Date Petty Cash Funding 38,780.22 48,440.74 Flt Ops 8,805.12 397,428.36 Fuel 519,435.49 1,196,453.19 Intercompany 611,121.36 1,649,374.79 Maintenance Expense 55,140.51 94,581.15 Station Expense 305,346.62 476,352.77 Employee 401k, Garnishment, Union 53,681.76 175,055.71 G&A 27,418.39 42,036.48 Clearinghouse Funding 1,308,089.00 3,950,417.00 - - - - TOTAL OTHER DISBURSEMENTS$ 2,927,818.47 $ 8,030,140.19 NOTE: Attach a current Balance Sheet and Income (Profit & Loss) Statement. MOR-3 Case 10-44131-JKO Doc 381 Filed 02/25/11 Page 4 of 79 Detail Schedule of Other Receipts MOR-3 Exhibit 1 For the Period from 1/1/2011 thru 1/31/2011 Name of Debtor: Gulfstream International Airlines, Inc. Date of Petition: 11/4/2010 Case No.: 10-44133 Description Current Month GAC Credit Card Sales 239.00 GAC Credit Card Sales 2,923.60 GAC Credit Card Sales 4,468.60 GAC Credit Card Sales 18,343.40 GAC Credit Card Sales 7,541.20 GAC Credit Card Sales 1,087.00 GAC Credit Card Sales 986.60 GAC Credit Card Sales 0.00 GAC Credit Card Sales 4,980.36 $ 40,569.76 Transfer from GAC 200,000.00 Transfer from GAC 100,000.00 Transfer from GAC 50,000.00 Transfer from GAC 80,000.00 $ 430,000.00 Suntrust-Interest 81.64 $ 81.64 Victory Park DIP Loan 600,000.00 Victory Park DIP Loan 600,000.00 Misc Deposit Charter-Locair 380.00 Misc Deposit Employee Insurance Premium 335.28 Misc Deposit Charter IFS 14,126.70 Misc Deposit ePac 8,520.00 Misc Deposit Regional Airline Support 3,516.63 Misc Deposit Frank Crystal 26.56 Misc Deposit Corpjet Transport Solutions 1,000.00 Misc Deposit Human Resource Profile 75.00 Misc Deposit Office Depot Cash Refund 12.01 Misc Deposit Expense Advance Return 40.00 Misc Deposit ADP Cobra 1,330.17 Misc Deposit ADP GTA Cobra 1,600.24 Misc Deposit ADP 401K Adj 22.14 Misc Deposit FedEx Duplicate Invoicing Deposit 85.26 Misc Deposit FedEx for Employee 39.49 $ 31,109.48 Total $ 1,101,760.88 Case 10-44131-JKO Doc 381 Filed 02/25/11 Page 5 of 79 Detail Schedule of Other Disbursements MOR-3 Exhibit 2 For the Period from 1/1/2011 thru 1/31/2011 Name of Debtor: Gulfstream International Airlines, Inc. Date of Petition: 11/4/2010 Case No.: 10-44133 Description Current Month Airline Clearinghouse ClearingHouse Funding 4,733.00 Airline Clearinghouse ClearingHouse Funding 12,374.00 Airline Clearinghouse ClearingHouse Funding 1,239,312.00 Airline Clearinghouse ClearingHouse Funding 3,237.00 Airline Clearinghouse ClearingHouse Funding 2,318.00 Airline Clearinghouse ClearingHouse Funding 1,200.00 Airline Clearinghouse ClearingHouse Funding 42,962.00 Airline Clearinghouse ClearingHouse Funding 1,953.00 ADP Employee 401k, Garnishment, Union 11,772.79 ADP Employee 401k, Garnishment, Union 4,724.90 ADP Employee 401k, Garnishment, Union 15,315.50 ADP Employee 401k, Garnishment, Union 3,102.55 ADP Employee 401k, Garnishment, Union 2,942.88 ADP Employee 401k, Garnishment, Union 1,659.79 ADP Employee 401k, Garnishment, Union 1,539.66 ADP Employee 401k, Garnishment, Union 2,859.61 TEAMSTERS LOCAL 1224 Employee 401k, Garnishment, Union 7,098.90 Paradise Credit Union Employee 401k, Garnishment, Union 1,332.59 Paradise Credit Union Employee 401k, Garnishment, Union 1,332.59 JEPPESEN SANDERSON Flt Ops 5,000.00 ONLINE TECHNOLOGY MANAGEM Flt Ops 375.00 FEDERAL AVIATION ADMINIST Flt Ops 37.65 FEDERAL AVIATION ADMINIST Flt Ops 37.45 FEDERAL AVIATION ADMINIST Flt Ops 36.75 FEDERAL AVIATION ADMINIST Flt Ops 36.75 FEDERAL AVIATION ADMINIST Flt Ops 36.15 FEDERAL AVIATION ADMINIST Flt Ops 37.05 FEDERAL AVIATION ADMINIST Flt Ops 111.65 STARLINE SYSTEMS, INC. Flt Ops 1,000.00 STARLINE SYSTEMS, INC. Flt Ops 1,866.67 WEATHER SERVICES INTERNAT Flt Ops 230.00 BBA Aviation Shared Services, Inc. Fuel 7,817.93 BBA Aviation Shared Services, Inc. Fuel 59,864.85 World Fuel Fuel 39,795.34 World Fuel Fuel 35,019.45 World Fuel Fuel 56,884.16 World Fuel Fuel 31,402.65 World Fuel Fuel 47,878.95 World Fuel Fuel 24,327.80 World Fuel Fuel 53,548.90 World Fuel Fuel 54,306.10 WHITE CROWN AVIATION Fuel 2,348.40 EARCO ELITE Fuel 3,034.80 ODYSSEY AVIATION Fuel 1,550.84 AVIALL Fuel 3,701.80 COMMISSIONER OF TAXATION Fuel 214.50 COMMISSIONER OF TAXATION Fuel 216.45 CLEARFIELD-JEFFERSON COUN Fuel 7,054.48 VENANGO REGIONAL AIRPORT Fuel 2,572.92 VENANGO REGIONAL AIRPORT Fuel 209.39 Case 10-44131-JKO Doc 381 Filed 02/25/11 Page 6 of 79 COMMISSIONER OF TAXATION Fuel 200.85 LEWIS KEY Fuel 22,963.35 EARCO ELITE Fuel 10,865.57 WHITE CROWN AVIATION Fuel 23,940.80 DEFENSE FINANCE & ACCOUNT Fuel 29,715.21 IDGAS Services G&A 8,333.33 FLORIDA DEPARTMENT OF STA G&A 61.25 Elavon G&A 513.40 FIRST INSURANCE FUNDING C G&A 8,603.75 UCAC INC G&A 890.00 BROWN, ROBERT G&A 1,507.50 HAMILTON PRENTISS ASSOCIA G&A 3,436.45 HAMILTON PRENTISS ASSOCIA G&A 3,436.45 HP ENTERPRISE SERVICES, L G&A 381.26 MARYLAND STATE BOARD OF P G&A 80.00 TOSHIBA BUSINESS SOLUTION G&A 175.00 AERO PROPELLER OF MIAMI, Intercompany 4,000.00 CERTIFIED ENGINES UNLIMIT Intercompany 2,150.00 SHELTAIR AVIATION CENTER, Intercompany 10,162.70 AEROSPACE ELECTRONICS, IN Intercompany 500.00 ZEPHYRHILLS Intercompany 190.33 KAJ FINANCIAL SERVICES, L Intercompany 2,475.00 SCHMIDT AVIATION, INC. Intercompany 954.00 AIRPARTS COMPANY, INC. Intercompany 288.60 AVIALL Intercompany 991.53 KRN AVIATION SERVICES Intercompany 737.00 GLOBAL AIRCRAFT INDUSTRIE Intercompany 195.00 PACIFIC AEROMOTIVE CORPOR Intercompany 325.00 AVIALL Intercompany 244.08 AEROSPACE ELECTRONICS, IN Intercompany 225.00 COOPER TRADING CORPORATIO Intercompany 3,392.00 SHELTAIR AVIATION CENTER, Intercompany 12,124.81 AVIALL Intercompany 79.54 U.S. TRUSTEES Intercompany 650.00 OUELLETTE & MAULDIN Intercompany 228.70 BLOUNT REALTY PARTNERS, L Intercompany 5,389.20 MIA AIRLINES SERVICES Intercompany 10,612.14 ZEPHYRHILLS Intercompany 123.66 THE FLYER PUBLISHING CO Intercompany 1,624.40 BLANCAS, ARENAS Intercompany 160.00 FEDERAL EXPRESS Intercompany 42.30 OUELLETTE & MAULDIN Intercompany 1,066.10 La Noche Se Mueve LLC Intercompany 2,500.00 UNITED BUSINESS FORMS Intercompany 740.00 ZUCKERT SCOUTT & RASENBER Intercompany 93.75 ZUCKERT SCOUTT & RASENBER Intercompany 1,036.78 METROPCS WIRELESS, INC. Intercompany 54.00 T-MOBILE Intercompany 2,919.85 UNITED BUSINESS FORMS Intercompany 1,949.00 VALUE STORE-IT 3 VIRGINIA Intercompany 158.36 MACHADO, MARITZA Intercompany 1,700.00 AIRLINE ECONOMICS INC. Intercompany 1,750.00 CHERRY BEKAERT & HOLLAND, Intercompany 2,727.00 COMCAST Intercompany 106.90 VIZADA, INC. Intercompany 33.10 XAEL CHARTERS Intercompany 1,375.00 MIA AIRLINES SERVICES Intercompany 11,878.84 Case 10-44131-JKO Doc 381 Filed 02/25/11 Page 7 of 79 USDA, APHIS, AQI Intercompany 55,150.00 U.S. TRUSTEES Intercompany 325.00 U. S. CUSTOMS & BORDER PR Intercompany 103,404.00 MIAMI DADE AVIATION DEPAR Intercompany 17,827.79 ADT Intercompany 40.85 Elavon Intercompany 2,916.50 IRS Intercompany 61,791.80 IRS Intercompany 57,187.20 IRS Intercompany 57,750.70 Berger Singerman Trust Acct Intercompany 71,000.00 Berger Singerman Trust Acct Intercompany 35,000.00 Flight Safety International Intercompany 3,780.00 Flight Safety International Intercompany 10,080.00 Flight Safety International Intercompany 7,560.00 Flight Safety International Intercompany 8,900.00 VEOLIA ES SOLID WASTE OF Intercompany 210.40 VEOLIA ES SOLID WASTE OF Intercompany 243.45 Gulfstream Training Academy Intercompany 11,000.00 Gulfstream Training Academy Intercompany 9,000.00 Gulfstream Training Academy Intercompany 10,000.00 PROFESSIONAL AIRCRAFT ACC Maintenance Expense 55.71 UPS SUPPLY CHAIN SOLUTION Maintenance Expense 305.89 MIDNITE EXPRESS Maintenance Expense 1,116.64 AACO INCORPORATED Maintenance Expense 700.00 AACO INCORPORATED Maintenance Expense 1,400.00 BIG BEAR TIRE, INC.