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SEC Filings

8-K
COSI INC filed this Form 8-K on 01/20/2017
Entire Document
 

Cosi, Inc.
Case No.
16-13704-MSH
Debtor
Reporting Period
11/29/16-01/02/17
 
STATEMENT OF OPERATIONS
(Income Statement)
 
The Statement of Operations is to be prepared on an accrual basis.  The accrual basis of accounting recognizes revenue when it is realized and expenses when they are incurred, regardless of when cash is actually received or paid.
 
 
 
Cumulative
REVENUES
Month
Filing to Date
Gross Revenues
                           4,774,880
                         15,305,358
Less: Discounts
                              163,831
                              564,128
Net Revenue
                           4,611,049
                         14,741,230
COST OF GOODS SOLD
 
 
Cost of Goods Sold
                           1,223,941
                           3,851,344
Resturant Payroll:
 
 
PAYROLL
                           1,391,252
                           4,453,511
PAYROLL TAXES
                              125,241
                              416,351
LIFE AD&D ILTD INSURANCE
                                   5,346
                                 15,947
401K
                                          -
                                 16,884
MEDICAL INSURANCE
                                 75,249
                              279,442
WORKERS COMPENSATION INSURANCE
                                 35,630
                              110,911
Total Payroll
                           1,632,719
                           5,293,047
Restaurant Operating Expenses:
 
                                          -
BANK FEES
                                 10,894
                                 36,798
CATERING
                                 50,057
                              156,625
CREDIT CARD FEES
                                 80,776
                              311,280
DELIVERY
                                 22,548
                                 61,158
DONATIONS
                                          -
                                      460
DUES
                                         81
                                      244
EQUIPMENT RENTAL
                                   2,594
                                   7,374
FINES
                                   3,598
                                   6,073
INSURANCE
                                   5,072
                                 26,476
IT COMPUTERS
                                 63,540
                              223,921
LEGAL
                                          -
                                          -
LICENSES
                                 16,470
                                 22,369
MARKETING
                                 75,609
                              250,345
OTHER
                                 23,264
                                 68,783
PAPER AND SUPPLIES
                              209,415
                              590,189
PERSONAL PROPERTY TAXES
                                 14,978
                                 33,553
REAL ESTATE TAXES
                                 49,596
                              159,261
RENT
                              683,094
                           2,110,188
REPAIRS AND MAINTENANCE
                                 96,901
                              283,640
TRAVEL
                                      384
                                      598
UTILITIES
                              158,148
                              496,522
Total Restaurant Operating Expense
                           1,567,020
                           4,845,855
Gross Profit
                              187,370
                              750,984
GENERAL AND ADMINISTRATIVE EXPENSES
 
 
BAD DEBT
                                          -
                                   5,000
BANK FEES
                                   4,679
                                 23,427
BOARD FEES
                                          -
                                 39,182
CATERING ALLOCATION
                               (49,647)
                             (155,140)
EQUIPMENT LEASES
                                      718
                                   2,284
INSURANCE
                                 29,659
                                 89,634
INVESTOR RELATIONS
                                 24,083
                                 34,994
IT COMPUTER
                                 61,033
                              137,851
LATE FEES
                                 (1,803)
                                 17,480
LEGAL
                                   5,850
                                 17,342
MARKETING ALLOCATION
                               (49,578)
                             (149,322)
MEAL EXPENSE
                                   3,842
                                 13,417
MEDICAL INSURANCE
                                 14,513
                                 32,098
OFFICE SUPPLIES
                                   3,100
                                   7,955
OTHER
                                 26,630
                                 35,681
PAYROLL
                              211,097
                              690,814
PAYROLL - INSIDERS
                                 54,538
                              191,301
PAYROLL TAXES
                                 37,223
                              105,188
POSTAGE
                                   6,558
                                 14,842
PROFESSIONAL FEES
                                          -
                                   9,000
REAL ESTATE TAXES
                                   1,403
                                   3,640
RENT
                                 25,385
                                 76,163
SALES TAX
                                   9,220
                                 13,135
TELEPHONE
                                   3,305
                                   9,105
TEMPORARY HELP
                              180,001
                              252,963
TRAVEL
                                 21,959
                                 59,914
UTILITIES
                                   1,542
                                   4,625
WORKERS COMPENSATION INSURANCE
                                   1,701
                                   5,103
Total General & Administrative
                              627,011
                           1,587,677
Loss from Operations
                             (439,642)
                             (836,693)
 
 
 
OTHER INCOME AND EXPENSES
 
DEPRECIATION AND AMORTIZATION
                             (175,357)
                             (590,524)
INTEREST INCOME
                                         25
                                   1,010
INTEREST EXPENSE
                               (97,787)
                             (273,386)
DEBT ISSUANCE EXPENSE
                               (53,686)
                             (161,059)
FRANCHISEE FEES AND ROYALTY
                              160,132
                              451,822
MISCELLANEOUS INCOME
                                 (5,725)
                              705,805
Total Other Income and Expenses
                             (172,400)
                              133,667
 
 
 
REORGANIZATION ITEMS
 
ASSET IMPAIRMENT AND CLOSED STORE COSTS
7,926
                              517,600
LEASE TERMINATION ACCRUAL
                                 (1,199)
                                     (165)
LOSS ON DISPOSAL OF ASSETS
                                          -
                                          -
PROFESSIONAL FEES
                              423,205
                           1,641,968
U.S. TRUSTEE QUARTERLY FEES
                                          -
                                   1,625
OTHER - PUBLIC RELATIONS
                                          -
                                   5,500
Total Reorganization Expenses
                              429,932
                           2,166,528
Income Taxes
                                          -
                                          -
Net Profit(Loss)
                  (1,041,973)
                         (2,869,554)
* "Insider" is defined in 11 U.S.C. Section 101(31).
 
MOR-3
   
9/04
 

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