8-K 1 januaryfinancials.txt 2015 REPORT FOR JORE CORPORATION JANUARY 2002 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 -------------------------- FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 DATE OF REPORT: February 15, 2002 JORE CORPORATION 000-26889 81-0465233 (Commission File Number) (IRS Employer Identification No.) A Montana Corporation 45000 Highway 93 South, Ronan, MT 59864 406/676-4900 Item 5. Other Events DECEMBER 2015 REPORT --------------------- On February 15, 2002 Jore Corporation filed its financial report (Form 2015) with the U.S. Bankruptcy Court in the District of Montana. This Form 2015 financial report, and required exhibits, is included herein. PERKINS COIE LLP Bruce G. ManIntyre Alan D. Smith 1201 Third Avenue, Suite 4800 Seattle, Washington 98101-3099 (206) 583-8888 (Counsel for Debtor) UNITED STATES BANKRUPTCY COURT DISTRICT OF MONTANA In re No. 01-31609-11 JORE CORPORATION, a.k.a. JB Tool, LLC, a.k.a. Jore, Inc., Debtor. [No Hearing Required] Taxpayer ID No. 81-0465223 -------------------------------------- FINANCIAL REPORT Jore Corporation, the debtor-in-possession in this case, hereby submits its Comparative Balance Sheet, Comparative Income Statement, Summary of Disbursements, Statement(s) of Cash Receipts and Disbursements, Statement of Aged Receivables, Statement of Aged Post-Petition Payables and Statement of Operations for the period ending January 31, 2002, in accordance with Rule 2015(b) of the Local Rules of this Court. Copies of this report have been served via first class mail, postage prepaid, or via email, to the parties listed on the attached affidavit of service. DATED this 15th day of February, 2002. PERKINS COIE LLP By /s/ Adriana Rodriguez ---------------------------------- Alan D. Smith, WSBA # 24964 Bruce G. MacIntyre, WSBA # 18984 Adriana Rodriguez, WSBA # 30785 Attorneys for Jore Corporation, Debtor UST-10 COVER SHEET MONTHLY FINANCIAL REPORT FOR CORPORATE OR PARTNERSHIP DEBTOR Case No: 01-31609-11 Report Month/Year January 31, 2002 Debtor: Jore Corporation Instructions: The debtor's monthly financial report shall include a cover sheet signed by the debtor and all UST forms and supporting documents. Exceptions, if allowed, are noted in the checklist below. Failure to comply with the reporting requirements of Local Bankruptcy Rule 2015-2(a), or the U.S. Trustee's reporting requirements, is cause for conversion or dismissal of the case. The debtor submits the following with this monthly financial report: Yes No UST-12 Comparative Balance Sheet, or debtor's balance sheet. Yes The debtor's balance sheet, if used, shall include a breakdown of pre-petition and post-petition liabilities. The breakdown may be provided as a separate attachment to the debtor's balance sheet. UST-13 Comparative Income Statement, or debtor's income statement. Yes UST-14 Summary of Disbursements Yes UST-14 Statement(s) of Cash Receipts and Disbursements Yes A continuation sheet shall be completed for each bank account or other source of funds and shall include a monthly bank statement and all supporting documents described in the instructions. UST-15 Statement of Aged Receivables Yes A detailed accounting of aged receivables shall be provided on, or in an attachment to, UST-15. UST-16 Statement of Aged Post-Petition Payables Yes A detailed accounting of aged post-petition payables shall be provided on, or in an attachment to UST-16. UST-17 Statement of Operations Yes When applicable, UST-17 shall include supporting documents such as an escrow statement for the sale of real property, an auctioneer's report for property sold at auction, or a certificate of insurance or copy of debtor's bond for any change in insurance or bond coverage. DEBTOR'S CERTIFICATION I certify under penalty of perjury that the information contained in this monthly financial report are complete, true, and accurate to the best of my knowledge, information, and belief. Debtor's Signature: \s\ Kelly Grove Date: February 15, 2002 The debtor, or trustee, if appointed, must sign the monthly financial report. Only an officer or director has authority to sign a financial report for a corporate debtor and only a general partner has authority to sign a financial report for a partnership debtor. Debtor's counsel may not sign a financial report for the debtor. Jore Corporation BALANCE SHEET For the Periods Indicated January 31, 2002 ASSETS Current assets: Cash equivalents and investments $954,612 Accounts receivable, net of allowances 4,410,764 Shareholder notes receivable, net of reserves 359,882 Inventory , net 12,248,129 Other current assets 2,778,684 ------------------ Total current assets $20,752,071 ------------------ Property, plant and equipment, net 71,826,041 Intangibles and other long-term assets, net 833,317 ------------------ Total assets $93,411,429 ================== LIABILITIES & SHAREHOLDERS' EQUITY Current liabilities: Post Petition: Operating Line of Credit 31,283,165 Accounts Payable Post Petition 1,466,788 Accrued Expenses Post Petition 2,977,052 Accrued Payroll & Other Post Petition 635,242 Accrued Vacation & Personal Leave Post Petition (15,320) Pre-petition: Accounts Payable Pre Petition 9,673,288 Accrued Expenses Pre Petition 1,792,042 Accrued Payroll & Other Pre Petition 444,110 Accrued Vacation & Personal Leave Pre Petition 521,541 Notes Payable 250,000 Shareholder Note Payable 353,446 ------------------ Total Current Liabilities 49,381,354 ------------------ Long-term Debt 43,672,134 Deferred Income Tax Liabilities 1,533,332 ------------------ Total Liabilities 94,586,820 ------------------ Shareholders' Equity Common Stock 41,337,319 Deferred Compensation - Stock Options (22,171) Retained Earnings (42,490,540) ------------------ Total Shareholders' Equity (1,175,392) ------------------ Total Liabilities & Shareholders' Equity $93,411,429 ================== Jore Corporation 01-31609-11 INCOME STATEMENT For the Periods Indicated January, 2002 January-02 Bankruptcy To Date Revenues Gross Sales $3,544,174 $47,426,288 Sales Returns, Allow, Disc, Adj (237,528) ($2,571,876) ------------------------------------- Total Net Revenues 3,306,646 44,854,412 Cost of Sales Material @ Standard 1,296,699 $18,788,652 Labor @ Standard 418,316 $6,384,108 Overhead @ Standard 126,640 $4,930,831 Product roll-out costs 7,688 $77,988 Over/under applied variances 1,118,083 $4,216,456 Purchase price variance (28,864) ($1,069,688) Freight 63,271 $1,289,176 Shipping & DC Costs 39,773 $569,091 Assignment Fees (560) $8,731 ------------------------------------- Total Cost of Sales 3,041,046 $32,154,301 ------------------------------------- Gross Profit 265,600 12,700,111 Operating Expenses General & Administrative 267,928 $4,005,781 Sales & Marketing 391,976 $6,426,652 Product Development 14,036 $237,433 ------------------------------------- Total Operating Expenses 673,940 $10,669,865 ------------------------------------- Operating Income / (Loss) (408,340) 2,030,246 Other (Income) Expenses Interest Expense 242,130 $2,451,521 Other Expenses (587) ($17,091) Loss on Disposal of Fixed Asset (700) ($43,309) ------------------------------------- Total Other (Income) Expense 240,843 $2,391,121 Non-Recurring Expenses Bankruptcy Admin 326,981 $3,569,315 Other Expense - Nonrecurring - $17,186,754 ------------------------------------- Total Non-Recurring Expenses 326,981 $20,756,069 ------------------------------------- ------------------------------------- Income before Taxes (976,164) ($24,157,990) Provision for Income Taxes 0 0 ------------------------------------- ------------------------------------- Net Income (Loss) (976,164) (24,157,990) ===================================== UST-14 Summary of Disbursements Case Number: 01-31609-11 Rule 2015 Report for the Month and Year of: January, 2002 Statement of Cash Receipts and Disbursements Account Name: Jore Corporation DIP ---------------------- Summary of All Accounts December, 2001

~~UST-16,~~Operating ~~Statement~~DIP ofAccounts ~~Post Petition Payables Part A~~ - ~~Taxes Type of tax (1) Unpaid post~~- ~~(2)Post~~-~~petition (3)Post~~-~~petitions (4)Unpaid post~~------------------------------------ ~~petition~~Transfer ~~taxes~~from ~~taxes~~Account ~~accrued~~Name ~~tax~~Account ~~payments~~# ~~made~~Beginning ~~petition~~Balance ~~taxes~~Cash atReceipts ~~from~~Cash ~~prior~~Disbursements ~~report-~~Line ~~this month (new this reporting end~~ of ~~reporting~~Credit ~~ing month obligations) month month~~ ---------------------------------------------------------------------------------------------------------------------------------- ~~Federal~~DIP ~~Taxes~~Operating ~~Employee~~Account ~~withholding~~495-0029603 ~~taxes 42~~(703,~~995~~937.8851) ~~65,223.44 74,596.05 33,623.27 FICA/Medicare~~-~~Employee~~ 25(1,~~366.45 32~~513,~~110~~752.9683) 391,~~879.55 17~~729,~~597~~776.8630 ~~FICA/Medicare~~Self-~~Employer~~funded ~~25,366.45~~Health ~~32,110.96~~Insurance ~~39,879.55~~Account 175130002180 (70,~~597~~731.8699) ~~Unemployment~~- 14(64,~~827~~570.78) ~~436.39 503.98 14~~32,~~760~~525.1915 -Bancontrol ~~State~~Account ~~Taxes~~ 003-0082267 ~~Dept. of Revenue WI (3~~157,~~432~~312.~~02)~~97 2,~~457.10 2~~245,~~984~~983.3943 - (31,~~959~~454,135.3171) ~~Dept.~~Lock ofBox ~~Revenue~~Account CA5130001216 ~~132.58~~- ~~198~~692,966.0315 ~~198.03~~- ~~132~~(426,910.58) ~~Dept.~~Payroll ofAccount ~~Revenue~~5130001935 ~~MT 38,488.82 7,311.63 48,177.39~~ (222,~~376~~762.9439) ~~Dept. of Revenue ILL 475.34 175.14 58.25 592.23 Dept. of Revenue GA 387.08 387.08~~ - ~~Dept. of Labor & Indu N/a N/a N/a N/a Unemployment WI 2~~(554,~~356~~551.~~99 (139.69~~54) 2536,~~217~~961.3007 ~~Unemployment~~Ronan MTState ~~58,120.91~~Bank ~~1,676.80~~Investments ~~59,797.71~~CD ~~Unemployment~~15767 CA& ~~(492.37)~~15374 ~~(492~~131,240.~~37)~~85 ~~Empl.~~- ~~Security~~Whitefish ~~Dept.~~Credit ~~N/a~~Union ~~N/a~~817452 ~~N/a~~- ~~N/a~~- ~~Employee Disability Tax CA 16.62 16.62~~ - ~~Other Taxes~~ - ~~Local~~Wells ~~city/county~~Fargo ~~N/a~~Imprest ~~N/a~~2015068521 ~~N/a~~3,891.06 ~~N/a Gambling N/a N/a N/a N/a Personal property~~ - - - - ~~Real Property~~ - - - - ~~Other~~ - - - - ---------------------------------------------------------------- Total ~~Unpaid~~Cash ~~Post-Petition~~Accounts ~~Taxes~~(504,987.01) $2,938,949.58 ~~139~~(2,~~507~~132,875.15) 418,216.23 =========================================================================

UST-14 Summary of Disbursements Case Number: 01-31609-11 Continued Rule 2015 Report for the Month and Year of: January, 2002 Account Name: Jore Corporation DIP -------------------- Summary of All Accounts Payments on Pre-Petition Unsecured Debt (requires court approval) Did the debtor, or another party on behalf of the debtor, make any payments during this reporting month on pre-petition unsecured debt? Yes ___ No_X_ If yes, list each payment. Payee name Nature of payment Payment date Payment amount Date of court approval -------------------------------------------------------------------------------- N/A -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Payments to Attorneys and Other Professionals (requires court approval) Did the debtor, or another party on behalf of the debtor, make any payments during this reporting month to a professional such as an attorney, accountant, realtor, appraiser, auctioneer, business consultant, or other professional person? Yes __ No _X__ If yes, list each payment. Payee name Nature of payment Payment date Payment amount Date of court approval -------------------------------------------------------------------------------- N/A -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Payments to an Officer, Director, Partner, or Other Insider of the Debtor Did the debtor, or another party on behalf of the debtor, make any payments during this reporting month to an officer, director, partner, or other insider of the debtor? Yes ___ No _x__ if yes, list each payment. Payee name Nature of payment Payment date Payment amount Date of court approval -------------------------------------------------------------------------------- N/A -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- UST - 14, Continuation Sheet Case Number: Case Number: Rule 2015 Report for the Month and Year of: January, 2002 Statement of Cash Receipts and Disbursements Account Name: Jore Corporation DIP Operating Account Account Number:495-0029603 Depository: Wells Fargo Cash Receipts Date Source $ Amount Balance -------------------------------------------------------------------------------- Beginning Cash Balance (703,937.51) ------------------------------- Total Cash Receipts - Cash Disbursements Date Check # Payee $ Amount -------------------------------------------------------------------------------- ------------------------------ Total Disbursements (1,513,752.83) Transfers from Line of Credit Transfers from Line of Credit 1,729,776.30 -------------------------------- Total Transfers From Line of Credit 1,729,776.30 Transfers Between Accounts -------------------------------- Total Transfers Between Accounts - Book Adjustments -------------------- Book Adjustments (2,368.75) Ending Book Balance (490,282.79) ==================== Bank Adjustments -------------------- 422,875.85 Balance in DIP Operating Account per 01/31/02 Bank Statement (67,406.94) ==================== Attach Copy of Current Months Bank Statement (0.00) UST - 14, Continuation Sheet Case Number: 01-31609-11 Rule 2015 Report for the Month and Year of: January, 2002 Statement of Cash Receipts and Disbursements Account Name:Jore Corporation Self-funded Health Insurance Account Number: 5130002180 Depository: Wells Fargo Cash Receipts Date Source Description $ Amount Balance -------------------------------------------------------------------------------- Beginning Cash Balance (70,731.99) ----------------------------- Total Cash Receipts - Cash Disbursements Date Check # Payee Description $ Amount -------------------------------------------------------------------------------- Various Release of Group of Checks (8,995.30) Various Release of Group of Checks (23,089.36) Various Release of Group of Checks (32,486.12) ( 32,486.12) ----------------------------- Total Disbursements (64,570.78) Transfers Transfers from Line of Credit 32,525.15 ----------------------------- Total Transfers 32,525.15 Transfers Between Accounts ----------------------------- Total Transfers Between Accounts - Book Adjustments ------------ Total Book Adjustments - Ending Book Balance (102,777.62) ================= o/s checks 102,658.62 Bank Adjustments 102,658.62 ----------------- Balance in Self-funded Health Insurance Acct per 01/31/02 Bank Statement (119.00) ================= Attach Copy of Current Months Bank Statement UST - 14, Continuation Sheet Case Number: 01-31609-11 Rule 2015 Report for the Month and Year of: January, 2002 Statement of Cash Receipts and Disbursements Account Name: Jore Corporation Bancontrol Account Account Number:003-0082267 Depository: Wells Fargo Cash Receipts Date Source Description $ Amount Balance -------------------------------------------------------------------------------- Beginning Cash Balance 157,312.97 Total A/R Trade Cash Recipts 2,156,246.96 Total Other Cash Receipts 89,736.47 ---------------------------- Total Cash Receipts 2,245,983.43 Cash Disbursements Date Check # Payee Description $ Amount -------------------------------------------------------------------------------- ----------------------------- Total Disbursements - Transfers Transfers to Line of Credit (1,454,135.71) ----------------------------- Total Transfers (1,454,135.71) Transfers Between Accounts Zero Balance Account Transfer from 5130001216 266,055.57 ----------------------------- Total Transfers Between Accounts 266,055.57 Book Adjustments --------------- Total Book Adjustments - Ending Book Balance 1,215,216.26 ================== Deposits per bank but not recorded on g/l Transfers not made to lockbox due to cash collateral order. (1,136,909.26) ------------------ Balance in Bancontrol Account per 1/31/02 Bank Statement 78,307.00 ================== Attach Copy of Current Months Bank Statement UST - 14, Continuation Sheet Case Number: 01-31609-11 Rule 2015 Report for the Month and Year of: January, 2002 Statement of Cash Receipts and Disbursements Account Name: Jore Corporation Lock Box Account Account Number:5130001216 Depository: Wells Fargo Cash Receipts Date Source Description $ Amount Balance -------------------------------------------------------------------------------- Beginning Cash Balance - Total A/R Trade Cash Recipts 692,966.15 --------------------------- Total Cash Receipts 692,966.15 Cash Disbursements Date Check # Payee Description $ Amount -------------------------------------------------------------------------------- ---------------------------- Total Disbursements - Transfers Sweep to Line of Credit (426,910.58) ---------------------------- Total Transfers (426,910.58) Transfers Between Accounts Zero Balance Account Transfer to 30082267 (266,055.57) ---------------------------- Total Transfers Between Accounts (266,055.57) Book Adjustments --------------- Total Book Adjustments - ------------- Ending Book Balance 0.00 ============= Bank Adjustments ------------- Balance in Lock Box Account per 1/31/02 Bank Statement 0.00 ============= Attach Copy of Current Months Bank Statement UST - 14, Continuation Sheet Case Number: 01-31609-11 Rule 2015 Report for the Month and Year of: January, 2002 Statement of Cash Receipts and Disbursements Account Name: Jore Corporation Payroll Account Account Number:5130001935 Depository: Wells Fargo Cash Receipts Date Source Description $ Amount Balance -------------------------------------------------------------------------------- Beginning Cash Balance (22,762.39) --------------------------- Total Cash Receipts - Cash Disbursements Date Check # Payee Description $ Amount -------------------------------------------------------------------------------- Checks (551,729.34) adp fees (2,822.20) --------------------------- Total Disbursements (554,551.54) Transfers Transfers from Line of Credit 536,961.07 --------------------------- Total Transfers 536,961.07 Transfers Between Accounts --------------------------- Total Transfers Between Accounts - Book Adjustments Total Book Adjustments 237,676.84 Ending Book Balance 197,323.98 ================== Total Bank Adjustments (198,451.83) ------------------ Balance in Payroll Account per 01/31/02 Bank Statement (1,127.85) ================== (0.00) Attach Copy of Current Months Bank Statement UST - 14, Continuation Sheet Case Number: 01-31609-11 Rule 2015 Report for the Month and Year of: January, 2002 Statement of Cash Receipts and Disbursements Account Name: Jore Corporation RSB Investments Account Number: CD 15767 & 15374 Depository: Wells Fargo Cash Receipts Date Source Description $ Amount Balance -------------------------------------------------------------------------------- Beginning Cash Balance 131,240.85 ------------------------ Cash Disbursements Date Check # Payee Description $ Amount -------------------------------------------------------------------------------- ------------------------- Total Disbursements - Transfers ------------------------- Total Transfers - Transfers Between Accounts ------------------------- Total Transfers Between Accounts - Book Adjustments ------------ Total Book Adjustments - Ending Book Balance 131,240.85 =============== Interest recorded by bank 293.24 - --------------- Balance in Ronan State Bank Investments Account per 01/31/02 Bank Statement 131,534.09 =============== Attach Copy of Current Months Bank Statement UST - 14, Continuation Sheet Case Number: 01-31609-11 Rule 2015 Report for the Month and Year of: January, 2002 Statement of Cash Receipts and Disbursements Account Name: Jore Corporation Wisconsin Imprest Account Number: 2015068521 Depository: Wells Fargo Cash Receipts Date Source Description $ Amount Balance -------------------------------------------------------------------------------- Beginning Cash Balance 3,891.06 --------------------------- Total Cash Receipts - Cash Disbursements Date Check # Payee Description $ Amount -------------------------------------------------------------------------------- Various ---------------------------- Total Disbursements - Transfers ---------------------------- Total Transfers - Transfers Between Accounts Wire Transfer from Jore General Account ---------------------------- Total Transfers Between Accounts - Book Adjustments ------------ Total Book Adjustments - Ending Book Balance 3,891.06 ================ Total Bank Adjustments Balance in Petty Cash Account per 1/31/02 Bank Statement 3,891.06 ================ Attach Copy of Current Months Bank Statement Case Number: 01-31609-11 Rule 2015 Report for the Month and Year of: Jan-02 UST-15, Statement of Aged Receivables Total Due (0-30 Days) (31-60 Days) (61-90 Days) (91 & Over) Amount Considered Uncollectible Post-Petition Receivables -------------------------------------------------------------------------------- 5,967,919 4,078,756 1,001,690 577,373 125,433 184,666 -------------------------------------------------------------------------------- Pre-Petition Receivables -------------------------------------------------------------------------------- 35,035 - 35,035 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- 6,002,954 4,078,756 1,001,690 577,373 125,433 219,701 ================================================================================ Accounts Receivable Reconciliation 1. Opening Balance 12/31/01 $6,229,252.89 2. Sales on Account this Month $3,527,180.91 2a. Adjustments ($1,205,246.24) -------------- 3. Balance (add lines 1, 2, & 2a) 1/31/02 $8,551,187.56 -------------- 4. Amounts Collected on Receivables ($2,583,267.44) -------------- 5. Closing Balance 1/31/02 $5,967,920.12 ============== Reserved for Uncollectible accounts (see attached) ($151,971.72) Reserved for Sales Alllowance, Returns, Promo accounts ($1,405,183.97) -------------- Per Balance Sheet 1/31/02 $4,410,764.43 ============== Explain what efforts the debtor made during this reporting month to collect receivables over 60 days past due? 1. Contacted customers that required additional proof of delivery on payments past due which were provided to get payments scheduled. Customers have paid on some of these and they are looking at the remainder should be receiving payments soon. This has been normal course of business with some of the larger retailers the Company sells to. 2. A few of our customers have not paid due to the Chapter 11 Bankruptcy, we having been working with them and should be receiving payment from them soon. Some of these customers have paid, are working with the other customers to get them paid. 3. The collectables are being reviewed on a weekly basis. Adjustments will be made when payments are received. 4. In August we transferred $134,305.55 to a Non-Trade Receivable Account as this is the total amount of prepetition Account Receivables for Black & Decker, Vermont American Magna, and Aronson Campbell. These customers have pre-petition balances in Accounts Payable and would like to have these amounts offset. Does the debtor have any accounts receivable due from an officer, director, partner, or other insider of the debtor? On the Balance sheet in a separate line item there are Notes Receivable from Shareholders. The totals are not reflected in the above A/R aging. Case Number: 01-31609-11 Rule 2015 Report for the Month and Year of: January, 2002 UST-16, Statement of Post Petition Payables Part A - Taxes

Case Number: 01-31609-11 Rule 2015 Report for the Month and Year of: January, 2002 UST-16, Statement of Postpetition Payables Part B - Other Payables Reconciliation of Post-Petition Payables (excluding taxes and professional fees) 1. Closing balance from prior month $1,319,548.13 2. New payables added 1/01/02 thru 1/31/02 $1,714,351.38 3. Less payments made 1/01/02 thru 1/31/02 ($1,567,111.66) 4. Balance for aging as of 1/31/02 $1,466,787.85 Statement of Postpetition Payments on Executory Contracts & Leases ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- Entity Paid Total amount of Total amount of Total Post Payments Due payments made petition delinquency -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- BLACKFOOT COMMUNICATIONS $ 17,129.08 $ 17,129.08 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- C&C LAND $ - $ - -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- CANADIAN DETAILING $ 1,140.63 $ 1,140.63 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- MISSION VALLEY POWER $ 39,581.55 $ 39,581.55 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- MISSOULA ELECTRIC COOPERATIVE $ 981.49 $ 981.49 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- MONTANA POWER COMPANY $ 1,569.70 $ 1,569.70 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- PROFESSIONAL RETAIL MERCHANDISE $ 20,596.83 $ 20,596.83 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- ROBERT SCHRODER $ 2,696.16 $ 2,696.16 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- SCOTTDALE RETAIL SERVICES $ 13,056.79 $ 13,056.79 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- VERIZON NORTH $ 419.85 $ 419.85 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- BOBROW PALUMBO $ 26,970.00 $ 26,970.00 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Total $ 124,142.08 $ 124,142.08 $0.00 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Statement of Postpetition Payments to Secured Creditors ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- Entity Paid Total amount of Total amount of Total Post Payments Due payments made petition delinquency -------------------------------------------------------------------------------- ------------------------------------------------------------------------------ ------------------------------------------------------------------------------ AMERICAN EQUIPMENT LEASING $ - ------------------------------------------------------------------------------ ------------------------------------------------------------------------------ ASSOCIATES LEASING $ - ------------------------------------------------------------------------------ ------------------------------------------------------------------------------ CITI VENDOR FINANCE $ - ------------------------------------------------------------------------------ ------------------------------------------------------------------------------ GE CAPITAL $ - ------------------------------------------------------------------------------ ------------------------------------------------------------------------------ PEOPLES $ - ------------------------------------------------------------------------------ ------------------------------------------------------------------------------ SAFECO $ - ------------------------------------------------------------------------------ ------------------------------------------------------------------------------ RONAN STATE BANK $ - ------------------------------------------------------------------------------ ------------------------------------------------------------------------------ FIRST SECURITY BANK $ - ------------------------------------------------------------------------------ ------------------------------------------------------------------------------ KEY CORP LEASING $ - ------------------------------------------------------------------------------ ------------------------------------------------------------------------------ Total $ - $ - $0.00 ------------------------------------------------------------------------------ ------------------------------------------------------------------------------ Case Number: 01-31609-11 Rule 2015 Report for the Month and Year of: January, 2002 UST-16, Statement of Postpetition Payables Part C - Estimated Professional Fees Schedule of Payments to Professionals (Attorney, accountant, appraiser, consultant, etc) December 31, 2001 Type of Professional Fees and expense Fees and expenses Total fees from prior added this expenses at months month month end -------------------------------------------------------------------------------- Perkins Coie (Debtor Attorney) - 1,495,371 217,403 1,712,774 Glass & Associates (Management Consultant-) 1,116,702 16,967 1,133,669 Dye & Moe (Debtor Attorney) 49,775 7,237 57,011 US Trustee 47,750 6,942 54,692 Trustee's Council - - - Shulkin (Creditors' Committee Council) - 78,666 11,437 90,103 Creditors' Committee other professional - 2,471 359 2,830 Christensen Connor Johnson 247,986 36,053 284,039 Hilco Appraisal Services 53,633 7,797 61,430 Wells Fargo 149,981 21,805 171,786 -------------------------------------------------------- Totals $ - $ 3,242,334 $ 326,000 $ 3,568,334 ======================================================== Note:1 Reference Court order dated 6/28/01 allowing interim billings of 80% of professional fees and 100% of expenses. Note:3 Professional fees accrued in January are based upon estimates and may be different than actual fees and expenses. Estimates will be adjusted to actuals upon receipt of invoices. Case Number: 01-31609-11 Rule 2015 Report for the Month and Year of: January, 2002 UST-17, Statement of Operations INSTRUCTIONS: Answer each question fully and attach additional sheets if necessary to provide a complete response. Yes No ---------------- Question 1 - Sale of Debtor's Assets. Did the debtor, or No another party on behalf of the debtor, sell, transfer, or otherwise dispose of any of the debtor's assets during the reporting month? Include only sales out of the ordinary course. If yes, identify each asset, date of court approval for the sale, method of disposition, and gross and net sale proceeds received. If real property was sold, attach a copy of the closing statement. If assets were sold at auction, attach a copy of the auctioneer's report. Question 2 - Financing. During the reporting month, did the No debtor receive any funds from an outside funding source? If yes, indicate the source of funds, date paid to debtor, dollar amount, and date of court approval. Question 3 - Insider Loans. During the reporting month, did No the debtor receive any funds from an officer, director, partner, or other insider of the debtor? If yes, indicate the source of funds, date paid to debtor, dollar amount, and date of court approval. Question 4 - Insurance and Bond Coverage. Did the debtor No renew or replace any insurance policies during this reporting month? If yes, attach a certificate of insurance for each renewal or change in coverage. Were any of the debtor's insurance policies canceled or No otherwise terminated for any reason during the reporting month? If yes, explain Were any claims made during this reporting month against the No debtor's bond? (Answer "No" if the debtor is not required to have a bond.) If yes, explain. Question 5 - Personnel Changes. Complete the following: Full-time Part-time and Temp Number of employees at beginning of month January 267 31 Employees added 0 0 Employees resigned/terminated 0 0 -------------------------------------- Number employees at end of month 267 31 ====================================== Gross Monthly Payroll and Taxes $ 662,197 ---------------- Question 6 - Significant Events. Explain any significant new developments during the reporting month. See narrative. Question 7 - Case Progress. Explain what progress the debtor made during the reporting month toward confirmation of a plan reorganization. See narrative. Case No. 01-31609-11 Jore Corporation Rule 2015 Report for the month ending January 31, 2002 Narrative Report Sales for the month of January 2002 were $3.5 million, a 40% increase over the same period in 2001. The top three customers had overall increases in sales over the prior year, some being attributable to moving forward sales orders from future months, but most are attributable to higher than expected sell through at the retail level. The Company's backlog of unfilled sales orders was $1.2 million at January 31, 2002. It is anticipated that February 2002 sales will exceed the prior year's sales levels by an equal amount. January's gross profit was 7.5% compared to a plan of 4.5% due to lower than expected costs in production. Many of the salaried personnel in overhead and administrative positions were working in the production area to get orders shipped. Selling and Marketing costs were lower than budget primarily due to the sales mix in relation to license brand fees. General & Administrative costs were lower than budget due to reallocation of wages to the packaging and assembly cost center in cost of goods sold. Interest expense is comprised of interest on the Company's debtor-in-possession facility. The Company is not accruing interest expense on its long-term debt. Bankruptcy administration expenses include amounts paid or due to professionals, primarily legal counsel of the interested parties in Jore's bankruptcy case. The current DIP facility limits payments to professionals to $100,000. On February 5th a ruling was issued from the U.S. Bankruptcy Court denying the breakup fees requested by the debtor. On February 6th, the previously submitted offer by Pentair was withdrawn. Porter Cable had made it clear they would not continue with their efforts without breakup fees to cover their due diligence costs in the event they were overbid. Currently GE Capital is moving forward with its own plan of reorganization. Based on a hearing on February 11th, the court extended the period to file a disclosure statement to February 22nd. This new disclosure statement will contain the GE plan. The next scheduled court date will be March 4th to review the disclosure statement and plan of reorganization. (C) Exhibits Exhibit Number Description 99.K Wells Fargo Debtor In Possession Bank Statement Ending 01/31/02 99.K Wells Fargo Self-Funded Insurance Bank Statement Ending 01/31/02 99.K Wells Fargo Bancontrol Bank Statement ending 01/31/02 99.K Wells Fargo Lockbox Bank Statement Ending 01/31/02 99.K Wells Fargo Payroll Bank Statement Ending 01/31/02 99.K Ronan State Bank Time Certificate Statements 99.K Wells Fargo Debtor In Possesion Bank Statement - Edgerton Ending SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. JORE CORPORATION February 15, 2002 By: /s/ Kelly Grove ------------------ Kelly Grove Controller

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