Res 1993-185 - Laserfiche WebLink

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Ifo1- . VI. ÃNM.YSIS AND VM.UATION OF PROPERTY A. Real Property The Debtor owns the real property and improvements on which it operates, the San Marcos Treatment Center. The property is mortgaged to HealthVest and the Plan Proponents do not believe that Debtor has any equity in the property. E. Tangible Personal Property The San Marcos Treatment Center is an operating psychiatric residential ,~, treatment center. The value of Debtor's tangible assets based upon historical costs less depreciation and other adjustments as of June 30. 1993 are as follows: Inventory S72, 157 Movable Equipment/Leasehold Improvements $641,051 The Plan Proponents have not obtained a fair market value appraisal of these assets. Ho.wever. based on historical experience. the Plan Proponents believe that these assets. if sold at auction. would bring considerably less than the value carried on the company's books. - C. Intangible Procerty The term "intangible property" refers to various types of property which, although quite valuable, are not tangible, physical items. These' include cash, and accounts, accounts receivable. deposits, contrncts, licenses, and permits. Based on Debtor's books and ,records as of June 30, 1993, the Debtor has the following assets: Cash and Cash Equivalents 541, 560 (after offset of outstanding checks) Security Deposits 540,915 Prepaid Expenses I 5144.076 General Accounts Receivable $3.897.280 (after adjustments for contractual discounts and uncollected accounts) Pre-petition Intercompany Accounts Receivable $3,148,020 The values for each of these assets are constantly changing as the Debtor conducts business and will necessarily be somewhat different on the Effective Date as a result of transactions in the ordinary course of Debtor's business. - 11 - a-2015S