EX-99.11 13 g73863ex99-11.txt GREAT RIVER CRUISE LLC - NOV 2001 OPERATING REPORT EXHIBIT 99.11 DEBTOR: GREAT RIVER CRUISE LINE, L.L.C. CASE NUMBER: 01-10963 (EIK) MONTHLY OPERATING REPORT AS OF NOVEMBER 30, 2001 AND FOR THE PERIOD OCTOBER 23, 2001 THROUGH NOVEMBER 30, 2001 In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that I have examined the attached Preliminary December Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ N.J. Davison ---------------------------------- Nicholas J. Davison Senior Vice President /s/ Randall L. Talcott ---------------------------------- Randall L. Talcott Vice President - Finance DEBTOR: GREAT RIVER CRUISE LINE, L.L.C. CASE NUMBER: 01-10963 (EIK) MONTHLY OPERATING REPORT AS OF NOVEMBER 30, 2001 AND FOR THE PERIOD OCTOBER 23, 2001 THROUGH NOVEMBER 30, 2001 CONTENTS Attachment 1 Summary of Bank and Investment Accounts Attachment 2 Schedule of Receipts and Disbursements Attachment 3 Bank and Investment Account Statements Attachment 4 Income Statement Attachment 5 Balance Sheet Attachment 6 Summary of Due To/Due From Intercompany Accounts Attachment 7 Accounts Receivable Aging Attachment 8 Accounts Payable Detail Attachment 9 Notes to November Monthly Operating Report Summary Of Bank, Investment & Petty Cash Accounts Attachment 1 Great River Cruise Line, L.L.C. Case No: 01-10963 (EIK) UNAUDITED For. Period. Of 23 October - 30 November, 2001
Balances ---------------------------------- Receipts. & Bank Opening Closing Disbursements Statements Account Account As Of 10/23/01 As Of 11/30/01 Included Included Reconciled ------- -------------- -------------- -------- -------- ---------- Delta Queen Steamer 9,832.97 15,031.83 Yes No - Not Yes Hibernia Concentration Account # - 812-395-270 Account Delta Queen 47,475.63 34,857.85 Yes Not A Bank Yes Petty Cash Account
Receipts & Disbursements Attachment 2-1 Great River Cruise. Line L.L.C. Case No: 01-10963 (EIK) UNAUDITED Hibernia Delta Queen Steamer Account # - 812-395-270 23 October 01 - 30 November 01 Opening Balance - 23 Oct 01 9, 832.97 Receipts 100,000.00 From The Delta Queen Steam Boat Co. - Hibernia - DQSC Master Cash - Account (812-395-335) ---------- 100,000.00 Total Receipts Disbursements (59,398.50) DQ - Food/Beverage (2,108.59) DQ - Non-Food Material (10,653.04) DQ- Services (127.17) Office Supplies (19,568.83) Shorex (2,877.44) Staffing/Temp Help (67.95) Transportation/Hotel 0.38 Adjustment ---------- (94,801.14) Total Disbursements Closing Balance - 30 Nov 01 15, 031.83
Receipts & Disbursements Attachment 2-2 Great River Cruise Line. L.L.C. Case No: 01-10963 (EIK) UNAUDITED Delta Queen Petty Account # - NA 23 October 01 - 30 November 01 Opening Balance - 23 Oct 01 47,475.63 Receipts 95,000.00 From The Delta Queen Steam Boat Co. - Hibernia - DQSC Master Cash - Account (812-395-335) 59,645.38 Onboard Receipts ----------- 154,645.38 Total Receipts Disbursements (71,387.87) To AMCV Cruise Ops - First Union - Master Cash - Account (2090002602362) (95,875.29) Operations ----------- (167,263.16) Total Disbursements Closing Balance - 30 Nov 01 34, 857.85
Attachment 3 Concentration & Investment Account Statements Great River Cruise Line, L.L.C. Case No: 01-10963 (EIK) For Period Of 23 October - 30 November, 2001 No Statements Due To No Concentration Or Investment Accounts Attachment 4 AMCV US SET OF BOOKS INCOME STATEMENT Current Period: NOV-01 currency USD Company=22 (DELTA QUEEN)
PTD-Actual NOV-01 ------------ Revenue Gross Revenue 1,183,957.82 Allowances (1,569.94) ------------ Net Revenue 1,182,387.88 Operating Expenses Air 34,992.05 Hotel 0.00 Commissions 88,280.14 Onboard Expenses 53,880.57 Passenger Expenses 330,995.19 Vessel Expenses 385,824.72 Layup/Drydock Expense 0.00 Vessel Insurance 0.00 ------------ Total Operating Expenses 893,972.67 ------------ Gross Profit 288,415.21 SG&A Expenses Sales & Marketing 0.00 Pre-Opening Costs 0.00 ------------ Total SG&A Expenses 0.00 ------------ EBITDA 288,415.21 Depreciation 126,225.70 ------------ Operating Income 162,189.51 Other Expense/(Income) Interest Income 0.00 Interest Expense 0.00 Equity in Earnings for Sub 0.00 ------------ Total Other Expense/(Income) 0.00 ------------ Net Pretax Income/(Loss) 162,189.51 ------------ Income Tax Expense 0.00 ------------ Net Income/(Loss) 162,189.51 ------------
Attachment 5 AMCV US SET OF BOOKS BALANCE SHEET Current Period: NOV-01 currency USD Company=22 (DELTA QUEEN)
YTD-Actual YTD-Actual NOV-01 OCT-01 ASSETS --------------- --------------- Cash and Equivalent 75,244.57 64,522.98 Restricted Cash 0.00 0.00 Marketable Securities 0.00 0.00 Accounts Receivable 122,699.70 33,451.42 Inventories 255,783.35 (Note 1) 270,331.59 Prepaid Expenses 8,924.97 37,922.40 Other Current Assets 0.00 14,555.00 -------------- -------------- Total Current Assets 462,652.59 420,783.39 Fixed Assets 27,296,694.44 27,296,694.44 Accumulated Depreciation (15,191,565.21) (15,065,339.51) -------------- -------------- Net Fixed Assets 12,105,129.23 12,231,354.93 Net Goodwill 0.00 0.00 Intercompany Due To/From (9,857,916.80) (9,202,583.95) Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries 0.00 0.00 Other Non Current Assets 0.00 0.00 -------------- -------------- Total Other Assets (9,857,916.80) (9,202,583.95) -------------- -------------- Total Assets 2,709,865.02 3,449,554.37 -------------- --------------
AMCV US SET OF BOOKS BALANCE SHEET Current Period: NOV-01 currency USD Company=22 (DELTA QUEEN)
YTD-Actual YTD-Actual NOV-01 OCT-01 LIABILITIES --------------- --------------- Accounts Payable 4,158.93 5,758.93 Accrued Liabilities 810,416.54 Note 2 715,443.75 Deposits 1,031,694.40 2,045,629.83 ------------- ------------- Total Current Liabilities 1,846,269.87 2,766,832.51 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 ------------- ------------- Total Liabilities 1,846,269.87 2,766,832.51 OTHER Liabilities Subject to Compromise 509,054.22 490,370.44 ------------- ------------- Total Other 509,054.22 490,370.44 OWNER'S EQUITY Common Stock 0.00 0.00 Add'1 Paid In Capital 3,701,000.00 3,701,000.00 Current Net Income (Loss) (2,044,030.52) (2,206,220.03) Retained Earnings (1,302,428.55) (1,302,428.55) ------------- ------------- Total Owner's Equity 354,540.93 192,351.42 ------------- ------------- Total Liabilities & Other & 2,709,865.02 3,449,554.37 ------------- -------------
Attachment 6 Great River Cruise Line, L.L.C. 01-10963 Summary List of Due To/Due From Accounts For the Period October 22, 2001 through November 30, 2001
BEGINNING ENDING AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (5,164,613.57) 302,817.50 931,804.31 (5,793,600.38) AMCV Cruise Operations, Inc. 01-10967 (9,485,031.82) 581,381.54 610,069.62 (9,513,719.90) The Delta Queen Steamboat Co. 01-10970 6,343,700.00 324,158.57 164,114.34 6,503,744.23 DQSB II, Inc. 01-10974 (367.05) -- -- (367.05) Great AQ Steamboat, L.L.C 01-10960 164,847.01 550.00 -- 165,397.01 Great Pacific NW Cruise Line, L.L.C 01-10977 1,882.08 -- 1,882.08 Great Ocean Cruise Line, L.L.C 01-10959 (70,146.64) 14,555.00 (55,591.64) Cruise America Travel, Incorporated 01-10966 (983,430.47) 1,178,729.00 1,368,079.82 (1,172,781.29) Delta Queen Coastal Voyages, L.L.C 01-10964 18,978.71 -- 18,978.71 Cape Cod Light, L.L.C 01-10962 (270.05) -- (270.05) Cape May Light, L.L.C 01-10961 24,875.25 6,931.25 -- 31,806.50 Project America, Inc. N/A (11,144.65) -- -- (11,144.65) Oceanic Ship Co. N/A (257.75) -- -- (257.75) Great Hawaiian Properties Corporation 01-10971 (41,555.00) -- -- (41,555.00) American Hawaiian Properties Corporation 01-10976 (50.00) 32,695.14 23,082.76 9,562.38 ----------------------------------------------------------------------- (9,202,583.95) 2,441818.00 3,097,150.85 (9,857.916.80) =======================================================================
Attachment 7 GREAT RIVER CRUISE LINE, L.L.C. 22 CASE # 01-10963 (EIK) ACCOUNTS RECEIVABLE RECONCILIATION AND AGING Accounts Receivable Reconciliation
Detail: 0-30 DAYS 31-60 DAYS 61-90 DAYS 91+ DAYS TOTAL Paymentech Credit Card Processor 59065.48 7110.88 446.53 66622.89 American Express Credit Card Processor 11931.67 1459.64 13391.31 Discover Credit Card Processor 4368.86 900.97 5269.83 Diners Credit Card Processor 205.34 205.34 Travel Agents 7522.24 29688.09 37210.33 Total 75366.01 17199.07 0 30134.62 122699.7
Attachment 8 DELTA QUEEN AP-STEAMER CHECKS 22-000-221300-00000 NOVEMBER-01 OUTSTANDING CHECKS: 12333 M. Richardson-Walmart (40.00) 12335 J. Blasier-Capitol One (20.00) 12385 J. Blasier-K. Hansen, (150.00) 12399 Peoria Historical Society (120.00) 12402 Anthony May-Tracey Dodson (200.00) 12403 Anthony May-Mervyn's (50.00) 12404 Anthony May-Venzon (200.00) 12405 Anthony May-Felicia Tanner (300.00) 12408 Peoria Historical Society (160.00) 12411 Ellie Dbwnen (2893.93) 12412 Hevy Rainey-St. Jude (25.00) -------- Total per G/L: (4158.93) ========
DEBTOR: GREAT RIVER CRUISE LINE, L.L.C. CASE NUMBER: 01-10963 (EIK) PRELIMINARY MONTHLY OPERATING REPORT AS OF NOVEMBER 30, 200.1 AND FOR THE PERIOD OCTOBER 23, 2001 THROUGH NOVEMBER 30, 2001 ATTACHMENT 9 NOTES TO NOVEMBER MONTHLY OPERATING REPORT The information contained herein is unaudited. All assets presented herein continue to be held at historical book values, net of accumulated depreciation or amortization. The Company has not attempted to adjust its books to reflect fair market values of its assets, nor has it attempted to adjust asset book values to reflect any potential impairments. Liabilities included in these financial statements reflect amounts known by the Company to have been incurred. The Company has listed in prior filings with the United States Trustee potential additional claims it believes may be asserted against the Company." To the best of the Debtor's knowledge and belief, based on currently available information, all Federal income and payroll taxes due and owing have been paid. 1. Physical inventory counts have not been performed. Inventory amounts have been adjusted to amounts contained in the Debtor's computer systems. The Debtor estimates that it would cost up to $50,000 to perform physical counts of the inventories of The Delta Queen Steamboat Company and its subsidiaries. Should physical inventory counts be performed, amounts recorded as inventory on the Debtor's books and records could change materially. 2. Prepaid insurance and accruals for self-insured claims are un-reconciled pending receipt and final review of required information. 3. The Debtor continued to operating its primary asset, the Delta Queen, through January 4, 2002. The Debtor has ceased accruing for its next scheduled lay-up, and has not adjusted related lay-up accrual or asset values pending the outcome of Chapter 11 proceedings. The Debtor has continued to record depreciation expense pending the outcome of Chapter 11 proceedings.