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[Madclown]

SPSNQ - Schedule of Financial Affairs Update

I posted this on the SPSNQ board and wanted float it out there to see if anyone over at the "Q" Nation had any thoughts.

Initial Schedule of Financial Affairs (SOFA) Due May 15, 2009 (75 days after petition date). SPSNQ has requested that the due date be extended to June 15, 2009. The hearing on the motion will be May 18, 2009 at 10:00 A.M Eastern. (Docket # 415 Linked Below)

http://chapter11.epiqsystems.com/viewdocument.aspx?DocumentPk=f8acdfc8-80b7-42ce-8d80-5583609d52dc


The contents of the SOFA will be prepared by KPMG, not company prepared, and will include the following: (Docket # 279 Linked Below)

Report due either May 15, 2009 or June 15, 2009: (a) for the period between the end of the preceding fiscal year and the end of the most recent six-month period of the current fiscal year – First Quarter of 2009 (December 29, 2008 to March 29, 2009) and (b) for the prior fiscal year – Fiscal 2008 (December 31, 2007 to December 28, 2008).

Subsequent Reports: Based on US GAAP requirements, all of the Debtors’ assets and liabilities will approximate their fair value. The Debtors will provide a basis of valuation of each asset class (as described in disclosures to the Debtors’ publicly filed 10K and 10Q documents).

http://chapter11.epiqsystems.com/viewdocument.aspx?DocumentPk=258b11d4-1e62-4279-9a55-3c80887faf27

Madclown