EX-99.12 14 g73863ex99-12.txt GREAT RIVER CRUISE LLC - DEC 2001 OPERATING REPORT EXHIBIT 99.12 DEBTOR: GREAT RIVER CRUISE LINE, L.L.C. CASE NUMBER: 01-10963 (EIK) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2001 AND FOR THE MONTH THEN ENDED Great River Cruise Line, L.L.C. (the "Debtor") received the information required to analyze and reconcile the accounts and other information contained in the attached December Monthly Operating Report too late to perform such analyses and reconciliations prior to the report's filing. Accordingly, the accounts and other information contained in the December Monthly Operating Report are subject to adjustment and reconciliation and may change materially once the analyses and reconciliations are performed. Subject to the foregoing possible material modifications and possible revisions, in accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that I have examined the attached December Monthly Operating Report (Attachments 1 through 9) and the accompanying attachments and, to the best of my knowledge, these documents are true, correct, and complete. /s/ Nicholas J. Davison ------------------------------------ Nicholas J. Davison Senior Vuce 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 DECEMBER 31, 2001 AND FOR THE MONTH THEN ENDED 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 December Monthly Operating Report
Summary Of Bank And Investment Accounts Attachment 1 Great River Cruise Line, L.L.C. Summary Case No: 01-10963 (EIK) UNAUDITED Great River Cruise Line For Month Of December, 2001
Balances --------------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 12/01/01 As Of 12/31/01 Included Included Reconciled ------- -------------- -------------- ------------- ---------- ---------- Delta Queen Steamer 15,031.83 41,640.43 Yes No - Not Yes Hibernia Concentration Account # - 812-395-270 Account Delta Queen 34,857.85 NA NA Note Bank No Petty Cash Account
Receipts & Disbursements Attachment 2-1 Great River Cruise Line, L.L.C. R&D - HIBERNIA - DQ STEAMER Case No: 01-10963 (EIK) UNAUDITED Hibernia Delta Queen Steamer Account # - 812-395-270 1 December 01 - 31 December 01
Opening Balance - 1 Dec 01 15,031.83 Receipts 75,000.00 From The Delta Queen Steam Boat Co. - Hibernia - DQSC Payroll - Account (812-395-289) 75,000.00 From The Delta Queen Steam Boat Co. - Hibernia - DQSC Master Cash - Account (812-395-335) ----------- 150,000.00 Total Receipts Disbursements Should Be (1,337.24) DO - Dockage Fees (74,813.89) DO - Food/Beverage (7,013.55) DO - Non-Food Material (2,557.02) DO - Services (342.85) Employees (Convert Employee Cash To Checks) (133.70) Marketing (286.00) Office Supplies (1,783.47) Payroll - Special (2,893.93) Replacement Of Uncashed Employee Pre-Petition Check (16,283.79) Shorex (8,447.26) Staffing/Temp Help (7,499.17) Transportation/Hotel 0.47 Adjustment ----------- (123,391.40) Total Disbursements Closing Balance - 31 Dec 01 41,640.43
Concentration & Investment Account Statements Attachment 3 Great River Cruise Line, L. L. C. Summary Case No: 01-10963 (EIK) Great River Cruise Line, LLC For Month Of December, 2001 Attach 2&3
No Statements Due To No Concentration Or Investment Accounts Attachment 4 AMCV US SET OF BOOKS INCOME STATEMENT Current Period: DEC-O1 currency USD Company=22 (DELTA QUEEN)
PTD-Actual DEC-O1 ---------- Revenue Gross Revenue 975,487.64 Allowances (1,282.75) ---------- Net Revenue 974,204.89 Operating Expenses Air 6,005.32 Hotel 0.00 Commissions 68,004.60 Onboard Expenses 25,845.66 Passenger Expenses 227,071.84 Vessel Expenses 250,841.87 Layup/Drydock Expense 0.00 Vessel Insurance 0.00 ---------- Total Operating Expenses 577,769.29 ---------- Gross Profit 396,435.60 SG&A Expenses Sales & Marketing 0.00 Pre-Opening Costs 0.00 Total SG&A Expenses 0.00 EBITDA 396,435.60 Depreciation 126,165.24 ---------- Operating Income 270,270.36 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) 270,270.36 ---------- Income Tax Expense 0.00 ---------- Net Income/(Loss) 270,270.36 ----------
Attachment 5-1 AMCV US SET OF BOOKS BALANCE SHEET Current Period: DEC-O1 currency USD Company=22 (DELTA QUEEN)
YTD-Actual YTD-Actual DEC-O1 OCT-01 --------------- --------------- ASSETS Cash and Equivalent 65,603.18 64,522.98 Restricted Cash 0.00 0.00 Marketable Securities 0.00 0.00 Accounts Receivable 180,578.14 33,451.42 Inventories 356,635.37 270,331.59 Prepaid Expenses 6,946.00 37,922.40 Other Current Assets 0.00 14,555.00 --------------- --------------- Total Current Assets 609,762.69 420,783.39 Fixed Assets 27,296,694.44 27,296,694.44 Accumulated Depreciation (15,317,730.45) (15,065,339.51) --------------- --------------- Net Fixed Assets 11,978,963.99 12,231,354.93 Net Goodwill 0.00 0.00 Intercompany Due To/From (10,395,236.47) (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 10,395,236.47) 9,202,583.95) --------------- --------------- Total Assets 2,193,490.21 3,449,554.37 --------------- ---------------
Attachment 5-2 AMCV US SET OF BOOKS BALANCE SHEET Current Period: DEC-O1 currency USD Company=22 (DELTA QUEEN)
YTD-Actual YTD-Actual DEC-O1 OCT-01 ------------- ------------- LIABILITIES Accounts Payable 31,943.69 5,758.93 Accrued Liabilities 834,877.97 715,443.75 Deposits 192,803.04 2,045,629.83 ------------- ------------- Total Current Liabilities 1,059,624.70 2,766,832.51 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 ------------- ------------- Total Liabilities 1,059,624.70 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'l Paid In Capital 3,701,000.00 3,701,000.00 Current Net Income (Loss) (1,773,760.16) (2,206,220.03) Retained Earnings (1,302,428.55 (1,302,428.55 ------------- ------------- Total Owner's Equity 624,811.29 192,351.42 ------------- ------------- Total Liabilities & Other 2,193,490.21 3,449,554.37 ------------- -------------
Attachment 6 Great River Cruise Line, L.L.C. Case #: 01-10963 Summary List of Due To/Due From Accounts For the Period Ending December 31, 2001
BEGINNING ENDING AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (5,793,600.38) 12,229.22 583,716.63 (6,365,087.79) AMCV Cruise Operations, Inc. 01-10967 (9,513,719.90) 496,694.75 452,115.55 (9,469,140.70) The Delta Queen Steamboat Co. 01-10970 6,503,744.23 210,453.87 2,511.58 6,711,686.52 DQSB II, Inc. 01-10974 (367.05) (367.05) Great AQ Steamboat, L.L.C. 01-10960 165,397.01 165,397.01 Great Pacific NW Cruise Line, L.L.C. 01-10977 1,882.08 170.00 2,052.08 Great Ocean Cruise Line, L.L.C. 01-10959 (55,591.64) (55,591.64) Cruise America Travel, Incorporated 01-10966 (1,172,781.29) 1,117,047.01 1,337,882.16 (1,393,616.44) 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 31,806.50 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 9,562.38 9,562.38 Cat 11, Inc. 01-10968 -- 1,025.41 -- 1,025.41 ------------- ------------ ------------ -------------- (9,857,916.80) 1,837,620.26 2,376,225.92 (10,396,522.46) ============= ============ ============ ==============
Great River Cruise Line, L.L.C. Monthly Operating Report As of December 31, 2001 And for the Period December 1, 2001 thru December 31, 2001 Attachment 7 Not Applicable Great River Cruise Line, L.L.C. Monthly Operating Report As of December 31, 2001 And for the Period December 1, 2001 thru December 31, 2001 Attachment 8 Not Applicable DEBTOR: GREAT RIVER CRUISE LINE, L.L.C. CASE NUMBER: 01-10963 (EIK) MONTHLY OPERATING REPORT AS OF DECEMBER 31, 2001 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO DECEMBER 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.