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8-K
COSI INC filed this Form 8-K on 12/20/2016
Entire Document
 

Exhibit 99.1
 
UNITED STATES BANKRUPTCY COURT
DISTRICT OF MASSACHUSETTS
 
In re
Cosi, Inc.
Case No.
16-13704-MSH
   
Reporting Period
10/25/16-11/28/16
 
MONTHLY OPERATING REPORT
Complete and submit to the United States Trustee within 15 days after end of month
 
Submit copy of report to any official committee appointed in the case
REQUIRED DOCUMENTS
Form No.
Document
Attached
Explanation
Attached
Monthly Reporting Questionnaire
MOR-1
YES
 
Schedule of Cash Receipts and Disbursements
MOR-2
YES
 
Copies of Debtor's Bank Reconciliations
 
YES
 
Copies of Debtor's Bank Statements
 
YES
 
Copies of Cash Disbursements Journals
 
YES
 
Statement of Operations
MOR-3
YES
 
Balance Sheet
MOR-4
YES
 
Schedule of Post-Petition Liabilities
MOR-5
YES
 
Copies of IRS Form 6123 or payment receipt
 
N/A
 
Copies of tax returns filed during reporting period
 
YES
 
Detailed listing of aged accounts payables
 
YES
 
Accounts Receivable Reconciliation and Aging
MOR-6
YES
 

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and all attachments are true and correct to the best of my knowledge and belief.
 
   
Signature of Debtor
 
Date
 
   
Signature of Joint Debtor
 
Date
 
       
/s/ Edward P. Schatz   12/15/2016  
Signature of Authorized Individual*
 
Date
 
       
Edward P. Schatz   Interim CFO  
Printed Name of Authorized Individual
 
Title of Authorized Individual
 
*Authorized individual must be an officer, director or shareholder if the debtor is a corporation;
a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.
 
 
COVER PAGE
 
9/04
 

Cosi, Inc.
Case No.
16-13704-MSH
Debtor
Reporting Period
10/25/16-11/28/16
MONTHLY REPORTING QUESTIONNAIRE
Must be completed each month
 
Yes
No
1. Have any assets been sold or transferred outside the normal course of business  this reporting period? If yes, provide an explanation below.
   
X
2. Have any funds been disbursed from any account other than a debtor-in-possession account this reporting period? If yes, provide an explanation below.
   
X
3. Have any payments been made on pre-petition debt, other than payments in the normal course to secured creditors or lessors? If yes, attach listing including date of payment, amount of payment, and name of payee. - See Note 1. below.
 
X
 
4. Have any payments been made to professionals? If yes, attach listing including date of payment, amount of payment, and name of payee. - MOR 1 Question 4 Supplemental tab
 
X
 
5. If the answer to question 3 and/or 4 is yes, were all such payments approved by the Court?
 
X
 
6. Have any payments been made to officers, insiders, shareholders, or relatives? If yes, attach listing including date of payment, amount and reason for payment, and name of payee.
 
X
 
7. Have all postpetition tax returns been timely filed? If no, provide an explanation below.
 
X
 
8. Is the estate current on the payment of post-petition taxes?
 
X
 
9. Is the estate insured for the replacement cost of assets and for general liability? If no, provide an explanation below.
 
X
 
10. Is workers' compensation insurance in effect?
 
X
 
11. Have all current insurance payments been made? Attach copies of all new and renewed insurance policies - N/A
 
X
 
12. Are a plan and disclosure statement on file?
   
X
13. Was there any post-petition borrowing during this reporting period?
 
X
 
 
Note 1. On September 30, 2016, the Bankruptcy Court entered the Order Granting Debtors’ Motion
for an Order Authorizing (I) the Debtors to Remit and Pay Certain Taxes and Fees and (II) Financial Institutions to Process and Cash Related Checks and Transfers (the “Tax Payment Authorization Order”) [Dkt. No. 54].  Consistent with the Tax Payment Authorization Order, the Debtors have paid when due certain taxes and fees, inclusive of those which may have accrued pre-petition. Additionally, on September 30, 2016, the Bankruptcy Court entered the Order Authorizing Debtors to Pay Wages, Compensation, Employee Benefits and Other Related Obligations (the “Wage, Compensation, and Benefit Authorization Order”) [Dkt. No. 46].  Consistent with the Wage, Compensation, and Benefit Authorization Order, the Debtors have paid all wages, salaries and employee benefits when due, inclusive of those which may have accrued pre-petition.
 
   
 
   
   
   
MOR-1
   
9/04
 

Cosi, Inc.
Case No.
16-13704-MSH
Debtor
Reporting Period
10/25/16-11/28/16
 
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be per the debtor's books, not the bank statement.  The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed.  Attach copies of the bank statements and the cash disbursements journal.  The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account.
 
 
BANK ACCOUNTS
 
Operational
Payroll
Tax
Other
Total
CASH BEGINNING OF MONTH
2,621,221
-
-
311,496
2,932,717
           
RECEIPTS
         
CASH SALES
4,317,409
-
-
1,268,088
5,585,496
ACCOUNTS RECEIVABLE
336,801
-
-
6,127
342,928
LOANS AND ADVANCES
-
-
-
-
-
SALE OF ASSETS
-
-
-
-
-
GIFT CARD SALES
18,349
-
-
-
18,349
TRANSFERS (FROM DIP ACCTS)
1,199,386
-
-
-
1,199,386
           
TOTAL RECEIPTS
5,871,944
-
-
1,274,215
7,146,159
           
DISBURSEMENTS
         
NET PAYROLL & BENEFITS
1,350,110
-
-
-
1,350,110
PAYROLL TAXES
524,871
-
-
-
524,871
SALES, USE & OTHER TAXES
383,213
-
-
-
383,213
INVENTORY PURCHASES
2,015,939
-
-
-
2,015,939
SECURED/RENTAL/LEASES
845,937
-
-
-
845,937
INSURANCE
-
-
-
-
-
ADMINISTRATIVE
687,360
-
-
10,849
698,209
SELLING
-
-
-
-
-
VENDOR DEPOSIT
8,000
-
-
-
8,000
KERP PAYMENTS
73,358
   
-
73,358
OTHER RESTRUCTURING COSTS
10,830
   
-
10,830
OWNER DRAW *
-
-
-
-
-
TRANSFERS (TO DIP ACCTS)
-
-
-
1,199,386
1,199,386
______________________________
         
PROFESSIONAL FEES
385,553
-
-
-
385,553
U.S. TRUSTEE QUARTERLY FEES
-
-
-
-
-
COURT COSTS
-
-
-
-
-
TOTAL DISBURSEMENTS
6,285,171
-
-
1,210,234
7,495,405
           
NET CASH FLOW
         
(RECEIPTS LESS DISBURSEMENTS)
(413,227)
-
-
63,981
(349,246)
CASH - END OF MONTH
2,207,994
-
-
375,477
2,583,471
 
*COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE
 
THE FOLLOWING SECTION MUST BE COMPLETED
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES:
   
TOTAL DISBURSEMENTS
       
7,495,405
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS
   
(1,199,386)
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)
0
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES
 
6,296,019
 
 
MOR-2
 
9/04
 

Cosi, Inc.
Case No.
16-13704-MSH
Debtor
Reporting Period
10/25/16-11/28/16
 
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
5,582,627
10,530,478
Less: Discounts
208,419
400,297
Net Revenue
5,374,207
10,130,181
COST OF GOODS SOLD
   
Cost of Goods Sold
1,405,146
2,627,403
Resturant Payroll:
   
PAYROLL
1,616,029
3,062,258
PAYROLL TAXES
154,357
291,110
LIFE AD&D ILTD INSURANCE
5,345
10,601
401K
14,239
16,884
MEDICAL INSURANCE
161,052
204,193
WORKERS COMPENSATION INSURANCE
37,641
75,282
Total Payroll
1,988,663
3,660,328
Restaurant Operating Expenses:
 
-
BANK FEES
11,571
25,903
CATERING
56,549
106,568
CREDIT CARD FEES
88,175
230,504
DELIVERY
19,838
38,610
DONATIONS
460
460
DUES
81
163
EQUIPMENT RENTAL
2,338
4,780
FINES
525
2,475
INSURANCE
5,085
21,403
IT COMPUTERS
86,366
160,380
LEGAL
-
-
LICENSES
5,388
5,899
MARKETING
96,691
174,736
OTHER
16,891
45,519
PAPER AND SUPPLIES
218,352
380,775
PERSONAL PROPERTY TAXES
6,355
18,575
REAL ESTATE TAXES
54,294
109,665
RENT
708,211
1,427,094
REPAIRS AND MAINTENANCE
83,332
186,738
TRAVEL
74
214
UTILITIES
165,013
338,375
Total Restaurant Operating Expense
1,625,588
3,278,835
Gross Profit
354,810
563,614
GENERAL AND ADMINISTRATIVE EXPENSES
   
BAD DEBT
-
5,000
BANK FEES
9,839
18,749
BOARD FEES
35,000
39,182
CATERING ALLOCATION
(55,522)
(105,493)
EQUIPMENT LEASES
-
1,565
INSURANCE
30,270
59,975
INVESTOR RELATIONS
3,166
10,911
IT COMPUTER
74,232
76,818
LATE FEES
19,283
19,283
LEGAL
9,050
11,492
MARKETING ALLOCATION
(49,686)
(99,743)
MEAL EXPENSE
6,795
9,575
MEDICAL INSURANCE
9,503
17,585
OFFICE SUPPLIES
3,644
4,855
OTHER
5,708
9,051
PAYROLL
249,260
479,717
PAYROLL - INSIDERS
79,870
136,763
PAYROLL TAXES
36,535
67,965
POSTAGE
4,866
8,284
PROFESSIONAL FEES
9,000
9,000
REAL ESTATE TAXES
1,119
2,237
RENT
25,389
50,777
SALES TAX
1,019
3,915
TELEPHONE
3,314
5,800
TEMPORARY HELP
48,761
72,962
TRAVEL
22,943
37,956
UTILITIES
1,542
3,083
WORKERS COMPENSATION INSURANCE
1,701
3,402
Total General & Administrative
586,602
960,666
Loss from Operations
(231,792)
(397,052)
     
OTHER INCOME AND EXPENSES
   
DEPRECIATION AND AMORTIZATION
(184,638)
(415,168)
INTEREST INCOME
491
985
INTEREST EXPENSE
(100,680)
(175,599)
DEBT ISSUANCE EXPENSE
(107,373)
(107,373)
FRANCHISEE FEES AND ROYALTY
161,672
291,691
MISCELLANEOUS INCOME
613,855
711,531
Total Other Income and Expenses
383,327
306,067
     
REORGANIZATION ITEMS
   
ASSET IMPAIRMENT AND CLOSED STORE COSTS
352,920
509,674
LEASE TERMINATION ACCRUAL
517
1,034
LOSS ON DISPOSAL OF ASSETS
-
-
PROFESSIONAL FEES
792,181
1,218,763
U.S. TRUSTEE QUARTERLY FEES
-
1,625
OTHER - PUBLIC RELATIONS
-
5,500
Total Reorganization Expenses
1,145,618
1,736,597
Income Taxes
-
-
Net Profit(Loss)
(994,082)
(1,827,581)
* "Insider" is defined in 11 U.S.C. Section 101(31).
 
MOR-3
9/04
 

Cosi, Inc.
Case No.
16-13704-MSH
Debtor
Reporting Period
10/25/16-11/28/16
 
STATEMENT OF OPERATIONS - continuation sheet
 
BREAKDOWN OF "OTHER" CATEGORY
Month
Cumulative
Filing to Date
     
Other Costs
   
   
   
Other Operational Expenses
   
   
   
Other Income
   
   
   
Other Expenses
   
   
   
Other Reorganization Expenses
   
   
   
   

Reorganization Items - Interest Earned on Accumulated Cash from Chapter 11:
Interest earned on cash accumulated during the chapter 11 case, which would not have been earned but for the bankruptcy proceeding, should be reported as a reorganization item.
 
 
MOR-3
 
9/04
 

Cosi, Inc.
Case No.
16-13704-MSH
Debtor
Reporting Period
10/25/16-11/28/16
 
BALANCE SHEET
The Balance Sheet is to be completed on an accrual basis only.  Pre-petition liabilities must be classified separately from postpetition obligations.
 
 
BOOK VALUE AT END OF
BOOK VALUE ON
ASSETS
CURRENT REPORTING MONTH
PETITION DATE
CURRENT ASSETS
   
Unrestricted Cash and Equivalents
1,794,853
822,201
Restricted Cash and Cash Equivalents
855,318
855,318
Credit Card Receivable
94,774
274,774
Accounts Receivable (Net)
1,528,780
1,022,884
Notes Receivable
106,437
103,984
Inventories
567,516
602,459
Prepaid Expenses
310,008
205,503
Professional Retainers
346,300
346,300
Other Current Assets (attach schedule)
-
-
TOTAL CURRENT ASSETS
5,603,986
4,233,423
PROPERTY AND EQUIPMENT
   
Computer and Telephone Equipment
10,327,917
10,329,053
Restaurant Equipment
8,161,361
8,144,168
Furniture, Fixtures and Office Equipment
4,826,736
4,854,206
Leasehold Improvements
18,805,612
19,281,722
Vehicles
9,030
9,030
Less Accumulated Depreciation
(36,508,878)
(36,307,498)
TOTAL PROPERTY & EQUIPMENT
5,621,779
6,310,681
OTHER ASSETS
   
Loans to Insiders
   
Other Assets - See MOR-4 - p2
14,226,200
14,422,670
TOTAL OTHER ASSETS
14,226,200
14,422,670
TOTAL ASSETS
   
 
25,451,965
24,966,774
 
BOOK VALUE AT END OF
BOOK VALUE ON
LIABILITIES AND OWNER EQUITY
CURRENT REPORTING MONTH
PETITION DATE
LIABILITIES NOT SUBJECT TO COMPROMISE (Post-Petition)
   
Accounts Payable
461,479
-
Taxes Payable - See MOR 5
673,271
-
Wages Payable
684,798
-
Accrued Gift Cards
15,157
 
Notes Payable
800,000
-
Rent / Leases - Building/Equipment
20,986
-
Secured Debt / Adequate Protection Payments
-
-
Professional Fees
584,360
-
Amounts Due to Insiders
10,192
-
Other Postpetition Liabilities (attach schedule)
446,421
-
TOTAL POST-PETITION LIABILITIES
3,696,664
-
LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)
   
Secured Debt
-
-
Priority Debt
-
1,248,113
Unsecured Debt
19,145,235
19,281,012
TOTAL PRE-PETITION LIABILITIES
19,145,235
20,529,125
     
TOTAL LIABILITIES
22,841,900
20,529,125
OWNER EQUITY
   
Capital Stock
(716,046)
(716,046)
Additional Paid-In Capital
344,547,561
344,547,561
Partners' Capital Account
-
-
Owner's Equity Account
-
-
Retained Earnings - Pre-Petition
(339,393,867)
(339,393,867)
Retained Earnings - Postpetition
(1,827,582)
-
Adjustments to Owner Equity (attach schedule)
-
-
Post-Petition Contributions (Distributions) (Draws) (attach schedule)
-
-
Net Owner Equity
2,610,066
4,437,648
     
TOTAL LIABILITIES AND OWNERS' EQUITY
25,451,966
24,966,773
Insider is defined in 11 U.S.C. Section 101(31)
 
MOR-4
   
9/04
 
1
                                             (1)
 

Cosi, Inc.
Case No.
16-13704-MSH
Debtor
Reporting Period
10/25/16-11/28/16
 
BALANCE SHEET - continuation sheet
   
BOOK VALUE AT END OF
BOOK VALUE ON
ASSETS 
CURRENT REPORTING MONTH
PETITION DATE
Other Current Assets
     
       
       
       
Other Assets
     
Landlord and Vendor Deposits
 
513,467
513,467
Trademarks
 
195,000
195,000
Deferred Financing Cost
 
54,807
76,729
Deferred Assets
 
1,248
1,248
Liquor Licenses
 
-
47,464
Intangibles
 
1,829,164
1,956,247
Goodwill
 
11,632,515
11,632,515
Total Other Assets
 
14,226,200
14,422,670
   
BOOK VALUE AT END OF
BOOK VALUE ON
LIABILITIES AND OWNER EQUITY 
CURRENT REPORTING MONTH
PETITION DATE
Other Postpetition Liabilities
     
Accrued Interest
 
175,599
-
Accrued Utilities
 
195,766
 
Other Liabilities
 
75,057
 
   
446,421
 
Adjustments to Owner Equity
     
 
     
 
     
 
     
Postpetition Contributions (Distributions) (Draws)
 
Restricted Cash: cash that is restricted for a specific use and not available to fund operations.
MOR-4
Typically, restricted cash is segregated into a separate account, such as an escrow account.
9/04
 

Cosi, Inc.
Case No.
16-13704-MSH
Debtor
Reporting Period
10/25/16-11/28/16
 
STATUS OF POST-PETITION TAXES
 
The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero. Attach photocopies of IRS Form 6123 and all applicable state and local forms and/or all federal, state, and local payment receipts to verify payment of taxes.  Attach photocopies of any tax returns filed during the reporting period.
 
 
Beginning
Amount
     
Ending
 
Tax
Withheld or
Amount
Date
Check No.
Tax
 
Liability
Accrued
Paid
Paid
or EFT
Liability
Federal
           
Income Tax Withholding
39,164.97
207,359.55
(167,095.51)
   
79,429.02
FICA-Employee
34,803.36
149,124.33
(124,641.41)
   
59,286.28
FICA-Employer
34,800.54
149,064.47
(124,641.41)
   
59,223.60
Unemployment
535.68
1,901.87
(1,702.21)
   
735.34
Income
-
       
-
Other:
-
       
-
Total Federal Taxes
109,304.55
507,450.22
(418,080.54)
-
-
198,674.23
State and Local
           
Income Tax Withholding
14,865.62
70,097.39
(57,582.57)
   
27,380.44
Sales
295,749.80
426,213.22
(375,519.09)
   
346,443.93
Excise
-
       
-
Unemployment
6,257.87
22,626.40
(20,475.13)
   
8,409.13
Real Property (Real Estate Taxes)
50,871.11
12,723.68
-
   
63,594.79
Personal Property
25,885.09
2,819.34
(7,693.60)
   
21,010.83
Other: City, County, Local, Misc Taxes
3,575.96
19,335.50
(15,153.99)
   
7,757.47
Other: Commercial Rent Tax
19,620.98
4,052.68
     
23,673.66
Total State and Local
416,826.43
557,868.21
(476,424.38)
-
-
498,270.26
Withholding for Employee Healthcare
53.25
166.53
(153.82)
   
65.96
Premiums, Pensions & Other Benefits
(8,301.00)
23,717.72
(13,424.79)
   
1,991.93
Total Taxes
517,883.23
1,089,202.68
(908,083.53)
-
-
699,002.38
 
SUMMARY OF UNPAID POST-PETITION DEBTS
Attach aged listing of accounts payables
 
 
Number of Days Past Due
 
Current
0-30
31-60
61-90
Over 90
Total
Accounts Payable
314,833.91
112,715.02
20,709.12
     
Wages Payable
684,797.72
         
Taxes Payable
673,270.83
         
Rent/Leases-Building
-
         
Rent/Leases-Equipment
2,981.25
         
Secured Debt/Adequate Protection Payments
800,000.00
         
Professional Fees in AP
10,240.00
         
Professional Fees in Accruals
584,360.00
         
Amounts Due to Insiders*
10,192.31
         
Gift Cards
15,157.16
         
Other: Percentage rent
20,985.55
         
Other:
426,666.47
         
Total Postpetition Debts
3,543,485.20
112,715.02
20,709.12
-
-
-
 
Explain how and when the Debtor intends to pay any past-due post-petition debts.
In due couirse with proceeds from operations supplemented by DIP Financing.
   
 
   
   
   
*"Insider" is defined in 11 U.S.C. Section 101(31).
MOR-5
9/04
 

Cosi, Inc.
Case No.
16-13704-MSH
Debtor
Reporting Period
10/25/16-11/28/16

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

ACCOUNTS RECEIVABLE RECONCILIATION
Amount
Total Accounts Receivable at the beginning of the reporting period
1,186,051.47
+ Amounts billed during the period
909,776.77
- Amounts collected during the period
(342,928.36)
Total Accounts Receivable at the end of the reporting period
1,752,899.88
   
Accounts Receivable Aging
Amount
0 - 30 days old
854,235.39
31 - 60 days old
234,315.30
61 - 90 days old
154,093.97
91+ days old
510,255.22
Total Accounts Receivable
1,752,899.88
Amount considered uncollectible (Bad Debt)
(224,120.18)
Accounts Receivable (Net)
1,528,779.70
 
MOR-6
 
9/04
 

Cosi, Inc.
Case No.
16-13704-MSH
Debtor
Reporting Period
10/25/16-11/28/16
 
MONTHLY REPORTING QUESTIONNAIRE
     
   
Yes
No
4. Have any payments been made to professionals? If yes, attach listing including date of payment, amount of payment, and name of payee.
 
X
 
       
Alliance for Financial Growth
10/31/16
Wire
38,393
Alliance for Financial Growth
11/07/16
Wire
13,750
Alliance for Financial Growth
11/14/16
Wire
13,750
Alliance for Financial Growth
11/21/16
Wire
13,750
Alliance for Financial Growth
11/28/16
Wire
13,750
The O'Connor Group, Inc.
10/31/16
Wire
45,360
The O'Connor Group, Inc.
11/28/16
Wire
46,800
Mirick O'Connell
11/21/16
Wire
100,000
Mirick O'Connell
11/28/16
Wire
100,000
     
385,553
 
 
MOR-1
 
9/04
 

Cosi, Inc.
Case No.
16-13704-MSH
Debtor
Reporting Period
10/25/16-11/28/16

MONTHLY REPORTING QUESTIONNAIRE
     
   
Yes
No
6. Have any payments been made to officers, insiders, shareholders, or relatives? If yes, attach listing including date of payment, amount and reason for payment, and name of payee.
 
X
 
     
       
Baue, Vicki
Payroll
11/07/16
7,885
Baue, Vicki
Payroll
11/21/16
7,885
DiSciullo, Tania
Payroll
11/07/16
6,154
DiSciullo, Tania
Payroll
11/21/16
9,154
Dourney, Devin
Payroll
11/07/16
1,846
Dourney, Devin
Payroll
11/21/16
3,296
Nicolini, William
Payroll
11/07/16
6,346
Nicolini, William
Payroll
11/21/16
6,346
Pippett, Greg
Payroll
11/07/16
6,154
Pippett, Greg
Payroll
11/21/16
24,805
     
79,870
       
David Lloyd
Board of Directors Fee
11/03/16
7,500
Jean Birch
Board of Directors Fee
11/03/16
6,250
Mark Demillio
Board of Directors Fee
11/03/16
10,000
Michael Collins
Board of Directors Fee
11/03/16
5,000
Pat Bennett
Board of Directors Fee
11/03/16
6,250
     
35,000
 
 
MOR-1
 
9/04
 

Cosi, Inc.
Case No.
16-13704-MSH
Debtor
Reporting Period
10/25/16-11/28/16
 
SUPPLEMENTAL SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
 
Amounts reported should be per the debtor's books, not the bank statement.  The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed.  Attach copies of the bank statements and the cash disbursements journal.  The total disbursements listed  in the disbursements journal must equal the total disbursements reported on this page.

A bank reconciliation must be attached for each account.
                                                                     
 
BANK ACCOUNTS
                                               
Hearthstone
Hearthstone
Xando Cosi of
Xando Cosi of
Xando Cosi of
Cosi Sandwich
Cosi Sandwich
Cosi Sandwich
Cosi Sandwich
Cosi Sandwich
 
 
Cosi, Inc.
Cosi, Inc.
Cosi, Inc.
Cosi, Inc.
Cosi, Inc.
Cosi, Inc.
Cosi, Inc.
Cosi, Inc.
Cosi, Inc.
Cosi, Inc.
Cosi, Inc.
Cosi, Inc.
Cosi, Inc.
Cosi, Inc.
Cosi, Inc.
Cosi, Inc.
Cosi, Inc.
Cosi, Inc.
Cosi, Inc.
Cosi, Inc.
Cosi, Inc.
Cosi, Inc.
Cosi, Inc.
Associates
Associates
Maryland, Inc.
Maryland, Inc.
Maryland, Inc.
Bar, Inc.
Bar, Inc.
Bar, Inc.
Bar, Inc.
Bar, Inc.
 
 
Bank of
Bank of
Bank of
Bank of
Bank of
Citizens
 
Fifth Third
First Priority
JP Morgan
JP Morgan
JP Morgan
JP Morgan
JP Morgan
JP Morgan
JP Morgan
         
TD
Wells
Bank of
Bank of
Capital
         
JP Morgan
JP Morgan
 
 
America
America
America
America
America
Bank
Comerica
Bank
Bank
Chase
Chase
Chase
Chase
Chase
Chase
Chase
Santander
Santander
Santander
Santander
Santander
Bank
Fargo
America
America
One
Comerica
Huntington
HSBC
HSBC
HSBC
Chase
Chase
 
 
Depository
Depository
Depository
Depository
Depository
Depository
Depository
Depository
Depository
Depository
ZBA
Depository
ZBA
ZBA
ZBA
ZBA
Depository
Depository
Depository
Depository
Depository
Depository
Depository
Depository
Depository
Depository
Depository
Depository
Restricted
Restricted
Restricted
Restricted
Restricted
 
 
004640563738
004640563741
004640563796
004640485120
004640546221
1331093373
1851109742
75567079
0201015914
722598562
722598596
722598547
722598554
722598570
722598604
934203373
10021844617
29804836038
1390157946
3574586418
3574586426
4267877682
2000027027925
004610087435
004640442833
00007774301402
1851305514
01892075064
619-50335-1
619-50150-2
619-50289-4
6373232448
6373237628
Total
CASH BEGINNING OF MONTH
                        -
                        -
                        -
                        -
               34,655
                        -
                        -
                     133
                     108
                 2,353
                        -
                        -
                        -
                        -
                        -
                        -
                 3,251
                 2,689
                 3,859
                 5,521
                 1,909
               32,628
                   19,291
                 3,171
                 2,977
                 1,997
                        -
                     111
               20,000
               40,002
               35,752
               64,639
                   36,450
                 311,496
                                                                     
RECEIPTS
                                                                   
CASH SALES
                        -
                        -
                        -
                        -
             364,561
                        -
                        -
                        -
                        -
                        -
                        -
             328,076
                        -
                        -
                        -
                        -
               26,024
               24,302
               66,236
               43,741
               17,805
             292,636
                   88,894
                        -
                        -
               15,812
                        -
                        -
                        -
                        -
                        -
                        -
                            -
              1,268,088
ACCOUNTS RECEIVABLE
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                 1,109
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                 5,019
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                      6,127
LOANS AND ADVANCES
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                             -
SALE OF ASSETS
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                             -
OTHER (ATTACH LIST)
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                             -
TRANSFERS (FROM DIP ACCTS)
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                             -
                                                                     
TOTAL RECEIPTS
                        -
                        -
                        -
                        -
             364,561
                        -
                        -
                        -
                        -
                        -
                        -
             329,185
                        -
                        -
                        -
                        -
               26,024
               24,302
               66,236
               43,741
               17,805
             292,636
                   88,894
                 5,019
                        -
               15,812
                        -
                        -
                        -
                        -
                        -
                        -
                            -
              1,274,215
                                                                     
DISBURSEMENTS
                                                                   
NET PAYROLL
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                             -
PAYROLL TAXES
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                             -
SALES, USE & OTHER TAXES
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                             -
INVENTORY PURCHASES
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                             -
SECURED/RENTAL/LEASES
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                             -
INSURANCE
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                             -
ADMINISTRATIVE
                        -
                        -
                        -
                        -
                 3,992
                        -
                        -
                        -
                       40
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                       27
                       19
                       98
                       55
                       13
                 1,535
                     4,984
                       51
                        -
                         9
                        -
                       25
                        -
                        -
                        -
                        -
                            -
                   10,849
SELLING
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                             -
OTHER
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                             -
______________________________
       
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
 
OWNER DRAW *
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                             -
TRANSFERS (TO DIP ACCTS)
                        -
                        -
                        -
                        -
             317,800
                        -
                        -
                     133
                       68
                        -
                        -
             329,185
                        -
                        -
                        -
                        -
               24,800
               22,400
               55,500
               40,200
               17,400
             273,400
                103,200
                        -
                        -
               15,300
                        -
                        -
                        -
                        -
                        -
                        -
                            -
              1,199,386
______________________________
                                                                   
PROFESSIONAL FEES
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                             -
U.S. TRUSTEE QUARTERLY FEES
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                             -
COURT COSTS
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                            -
                             -
TOTAL DISBURSEMENTS
                        -
                        -
                        -
                        -
             321,792
                        -
                        -
                     133
                     108
                        -
                        -
             329,185
                        -
                        -
                        -
                        -
               24,827
               22,419
               55,598
               40,255
               17,413
             274,935
                108,184
                       51
                        -
               15,309
                        -
                       25
                        -
                        -
                        -
                        -
                            -
              1,210,234
                                                                     
NET CASH FLOW
                                                                   
(RECEIPTS LESS DISBURSEMENTS)
                        -
                        -
                        -
                        -
               42,769
                        -
                        -
                   (133)
                   (108)
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                 1,197
                 1,883
               10,638
                 3,486
                     393
               17,702
                 (19,291)
                 4,968
                        -
                     503
                        -
                     (25)
                        -
                        -
                        -
                        -
                            -
                   63,981
CASH - END OF MONTH
                        -
                        -
                        -
                        -
               77,424
                        -
                        -
                        -
                        -
                 2,353
                        -
                        -
                        -
                        -
                        -
                        -
                 4,449
                 4,572
               14,497
                 9,007
                 2,302
               50,330
                            -
                 8,138
                 2,977
                 2,499
                        -
                       86
               20,000
               40,002
               35,752
               64,639
                   36,450
                 375,477
 CASH BALANCE PER BANK
                        -
                        -
                        -
                        -
               76,177
                        -
     
                 2,353
 
                        -
       
                 4,449
                 4,662
               14,497
                 9,007
                 2,302
               50,330
                            -
               11,689
                 2,977
                 2,499
 
                       86
               20,000
               40,002
               35,752
               64,650
                   36,450
                 377,882
                                                                     
 Variance
                        -
                        -
                        -
                        -
                 1,247
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                     (90)
                        -
                        -
                        -
                        -
                            -
                (3,551)
                        -
                        -
                        -
                        -
                        -
                        -
                        -
                     (11)
                            -
                    (2,405)
                                                                   
 9/04
SUPPLEMENT TO MOR-2
 9/04
 
 


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