EX-99.10 12 g74425ex99-10.txt AMCV CRUISE OPERATIONS, INC. - JAN 02 REPORT EXHIBIT 99.10 DEBTOR: AMCV CRUISE OPERATIONS, INC. CASE NUMBER: O1-10967 (EIK) MONTHLY OPERATING REPORT AS OF JANUARY 31, 2002 AND FOR THE MONTH THEN ENDED In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury that I have examined the attached January Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ Nicholas J. Davison ------------------------------ Nicholas J. Davison Senior Vice President, Finance DEBTOR: AMCV CRUISE OPERATIONS, INC. CASE NUMBER: 01-10967 (EIK) MONTHLY OPERATING REPORT AS OF JANUARY 31, 2002 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 January 2002 Monthly Operating Report Attachment 1 Summary Of Bank, Investment & Petty Cash Accounts AMCV Cruise Operations, Inc. Summary Case No: 01-10967 (EIK) UNAUDITED AMCV Cruise For Month Of January, 2002 Operations, Inc
Balances ------------------------------ Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 1/01/02 As Of 1/31/02 Included Included Reconciled ------- ------------- ------------- ------------- ------------- ---------- AHC - Certificate Of Deposit* 25,000.00 25,000.00 Yes No - Not Yes Bank One Concentration Account # - 880058451981 Account AHC - Certificate Of Deposit* 25,000.00 25,000.00 Yes No - Not Yes Bank One Concentration Account # - 880058452369 Account AMCV Cruise Ops 24,403.17 72,293.45 Yes Yes Yes Master Cash First Union National Bank Account # - 2090002602362 AMCV Escrow - Gohagan 219,626.12 219,911.95 Yes No - Not Yes LaSalle Bank Concentration Account # - 62-8766-40-4 Account American Classic Voyages 35,030.00 0.00 Yes No - Not Yes Fleet Bank Concentration Account # - 941-9148945 Account New Orleans Office 12,039.40 8,074.29 Yes Not A Bank Yes Petty Cash Account
* Proceeds From Matured Certficates Of Deposit Being Retained By Bank One While They Pursue Recover Equivalent Amounts Relating To Letters Of Credits That Were Exercised After The Filing For Bankruptcy Where These Certificates Of Deposits Were Collateral Receipts & Disbursements Attachment 2-1 AMCV Cruise Operations, Inc. R&D - Case No: 01-10967 (EIK) UNAUDITED Bank One - Bank One AHC CD (86) AHC Certificate Of Deposit Account # - 880058451981 1 January 02 - 31 January 02 Opening Balance - 1 Jan 02 25, 000.00 Receipts ---------- 0.00 Total Receipts Disbursements ---------- 0.00 Total Disbursements Closing Balance - 31 Jan 02 25,000.00
Receipts & Disbursements Attachment 2-2 AMCV Cruise Operations, Inc. R&D - Case No: 01-10967 (EIK) UNAUDITED Bank One - Bank One AHC CD (87) AHC Certificate Of Deposit Account # - 880058452369 1 January 02 - 31 January 02 Opening Balance - 1 Jan 02 25, 000.00 Receipts ---------- 0.00 Total Receipts Disbursements ---------- 0.00 Total Disbursements Closing Balance - 31 Jan 02 25,000.00
Receipts & Disbursements Attachment 2-3 AMCV Cruise Operations, Inc. R&D- First Union Case No: 01-10967 (EIK) UNAUDITED AMCV Cruise Ops First Union Master Cash AMCV Cruise Ops Master Cash Account # - 2090002602362 1 January 02 - 31 January 02 Opening Balance - 1 Jan 02 24,403.17 Receipts 74,240.17 Misc Refunds & Commissions 132,213.10 State Of Hawaii Tax Refund 42,202.48 From Great River Cruise Line, LLC - Delta Queen Petty Cash 35,030.00 From American Classic Voyages - Fleet Bank - Account (941-9148945) ----------- 283,685.75 Total Receipts Disbursements (235,000.00) To The Delta Queen Steamboat Co. - Hibernia - DQSC Master Cash - Account (812-395-335) (692.00) Returned Deposits (103.47) Bank Fees ----------- (235,795.47) Total Disbursements Closing Balance - 31 Jan 02 72,293.45
Receipts & Disbursements Attachment 2-4 American Classic Voyages R&D -Lasalle Case No: 01-10967(EIK) UNAUDITED AMCV Escrow - LaSalle Gohagan AMCV Escrow - Gohagan Account # - 62-8766-40-4 1 January 02 - 31 January 02 Opening Balance - 1 Jan 02 219,626.12 Receipts 285.83 Interest Earned ---------- 285.83 Total Receipts Disbursements ---------- 0.00 Total Disbursements Closing Balance - 31 Jan 02 219,911.95
Receipts & Disbursements Attachment 2-5 AMCV Cruise Operations. Inc. R&D-Fleet Case No: 01-10967 (EIK) UNAUDITED CML Other Fleet Bank CML Other Account # - 941-9148945 1 January 02 - 31 January 02 Opening Balance - 1 Jan 02 35,030.00 Receipts ---------- 0.00 Total Receipts Disbursements (35,030.00) To AMCV Cruise Operations, Inc. - First Union - AMCV Cruise Ops Master Cash - Account (2090002602362) ---------- (35,030.00) Total Disbursements Closing Balance - 31 Jan 02 0.00
Receipts & Disbursements Attachment 2-6 AMCV Cruise Operations, Inc. R&D -NOLA Case No: 01-10967 (EIK) UNAUDITED Petty Cash New Orleans Office Petty Cash Account # - NA 1 January 02 - 31 January 02 Opening Balance - 1 Jan 02 12,039.40 Receipts 30,000.00 From The Delta Queen Steamboat Co. - Hibernia Master Cash - Account (812-395-335) 12,088.69 From Great River Cruise Line, L.L.C. - DQ Petty Cash ---------- 42,088.69 Total Receipts Disbursements (43,760.00) To The Delta Queen Steamboat Co. - Hibernia Master Cash - Account (812-395-335) (2,293.80) Misc Supplies/Other ---------- (46,053.80) Total Disbursements Closing Balance - 31 Jan 02 8, 074.29
AMCV US SET OF BOOKS INCOME STATEMENT - ATTACHMENT 4 Current Period: JAN-02 currency USD Company=15 (AMCV OPS)
PTD-Actual JAN-02 ------------- -------------- Revenue Gross Revenue 0.00 Allowances 0.00 ------------- Net Revenue 0.00 Operating Expenses Air 0.00 Hotel 0.00 Commissions 0.00 Onboard Expenses 0.00 Passenger Expenses 0.00 Vessel Expenses 0.00 Layup/Drydock Expense 0.00 Vessel Insurance 0.00 ------------- Total Operating Expenses 0.00 ------------- Gross Profit 0.00 SG&A Expenses General and Admin Expenses 406,386.96 Sales & Marketing 57,762.86 Pre-Opening Costs 0.00 ------------- Total SG&A Expenses 464,149.82 ------------- EBITDA (464,149.82) Depreciation 40,575.90 ------------- Operating Income (504,725.72) Other Expense/ (Income) Interest Income (5,040.68) Equity in Earnings for Sub (1,017,151.65) Reorganization expenses 789, 813 .55 Other expense 10,206.15 ------------- Total Other Expense/ (Income) 1,812,130.67 ------------- Net Pretax Income/(Loss) (2,316,856.39) ------------- ------------- Income Tax Expense 0.00 ------------- Net Income/ (Loss) (2,316,856.39) -------------
AMCV US SET OF BOOKS BALANCE SHEET - ATTACHMENT 5 Current Period: JAN-02 currency USD Company=15 (AMCV OPS)
YTD-Actual YTD-Actual JAN-02 OCT-0 ------------- ------------ ASSETS Cash and Equivalent 281,876.79 1,723,947.86 Restricted Cash 219,911.95 219,000.00 Marketable Securities 50,000.00 50,000.00 Accounts Receivable 0.00 99,684.62 Inventories 0.00 0.00 Prepaid Expenses 346,833.38 522,662.13 Other Current Assets 40,600.00 1,750.00 ------------- ------------- Total Current Assets 939,222.12 2,617,044.61 Fixed Assets 9,372,064.98 9,371,627.23 Accumulated Depreciation (575,491.71) (453,764.30) ------------- ------------- Net Fixed Assets 8,796,573.27 8,917,862.93 Net Goodwill 0.00 0.00 Intercompany Due To/From (2,241,786.14) 2,150,807.43 Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries 65,152,586.09 66,329,274.35 Other Non Current Assets 0.00 0.00 ------------- ------------- Total Other Assets 62,910,799.95 68,480,081.78 ------------- ------------- Total Assets 72,646,595.34 80,014,989.32 ------------- -------------
AMCV US SET OF BOOKS BALANCE SHEET - ATTACHMENT 5 Current Period: JAN-02 currency USD Company=15 (AMCV OPS)
YTD-Actual YTD-Actual JAN-02 OCT-0 -------------- -------------- LIABILITIES Accounts Payable 67,222.23 5,363.60 Accrued Liabilities 278,143.86 289,488.87 Deposits 0.00 0.00 -------------- -------------- Total Current Liabilities 345,366.09 294,852.47 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 -------------- -------------- Total Liabilities 345,366.09 294,852.47 OTHER Liabilities Subject to Compromise 29,596,386.40 32,307,000.02 -------------- -------------- Total Other 29,596,386.40 32,307,000.02 OWNER'S EQUITY Common Stock 10,440.25 10,440.25 Add'1 Paid In Capital 112,772,392.56 112,772,392.56 Current Net Income (Loss) (2,316,856.39) (37,037,717.81) Retained Earnings (67,761,133.57) (28,331,978.17) -------------- -------------- Total Owner's Equity 42,704,842.85 47,413,136.83 -------------- -------------- Total Liabilities & Equity 72,646,595.34 80,014,989.32 -------------- --------------
AMCV Cruise Operations, Inc. ATTACHMENT 6 Summary List of Due To/Due From Accounts For the Period Ending January 31, 2002
BEGINNING ENDING AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (78,558,545.13) 1,887,197.24 1,993,665.82 (78,665,013.71) The Delta Queen Steamboat Co. 01-10970 (101,335,775.02) 46,701.77 909,215.72 (102,198,288.97) DQS13 11, Inc. 01-10974 1,194.40 -- -- 1,194.40 Great AQ Steamboat, L.L.C 01-10960 22,745,106.79 10,197.34 400.50 22,754,903.63 Great Pacific NW Cruise Line, L.L.C 01-10977 9,372,500.72 9,429.72 -- 9,381,930.44 Great River Cruise Line, L.L.C 01-10963 9,469,140.70 43,177.64 67,254.01 9,445,064.33 Great Ocean Cruise Line, L.L.C 01-10959 21,385,571.10 18,705.48 1,704.95 21,402,571.63 Cruise America Travel, Incorporated 01-10966 4,057,712.45 2,495.50 1,859.32 4,058,348.63 Delta Queen Coastal Voyages, L.L.C 01-10964 (191,346.38) -- -- (191,346.38) Cape Cod Light, L.L.C 01-10962 3,947,213.20 990.00 -- 3,948,203.20 Cape May Light, L.L.C 01-10961 7,971,800.32 32,121.40 10.00 8,003,911.72 Project America, Inc. N/A (4,501,824.46) 621.00 -- (4,501,203.46) Oceanic Ship Co. N/A 57,263,797.07 22,677.59 3,893.65 57,282,581.01 Project America Ship 1, Inc. N/A 111,958.41 -- -- 111,958.41 Ocean Development Co. 01-10972 1,564,704.50 451,935.90 451,834.32 1,564,806.08 Great Hawaiian Cruise Line, Inc. 01-10975 1,574.81 -- -- 1,574.81 Great Hawaiian Properties Corporation 01-10971 (6,121,103.54) 4,228.48 -- (6,116,875.06) American Hawaiian Properties Corporation 01-10976 5,188,103.46 2,117.21 -- 5,190,220.67 Great Independence Ship Co. 01-10969 36,632,816.41 15,280.38 2,406.37 36,645,690.42 Cat II, Inc. 01-10968 9,637,982.06 -- -- 9,637,982.06 ---------------------------------------------------------------------- (1,357,418.13) 2,547,876.65 3,432,244.66 (2,241,786.14) ======================================================================
AMCV Cruise Operations, Inc. Accounts Receivable Aging As of January 31, 2002 Attachment 7 Not Applicable AMCV US SET OF BOOKS Report Date: 14-FEB-2002 Accounts Payable Trial Balance Reporting Level: Operating Unit Reporting Context: AMCV POSTPET US OPERATING UNIT Accounting Currency: USD As of Date: 31-JAN-02 Supplier Name: All Liability Account: All Summarize Report: No Exclude Invoices Before:
Invoice Invoice Number Date Curr Amount Remaining Amount Invoice Description -------------- --------- ---- -------- ---------------- ----------------------------------- Liability Account: 15-000-220102-00000 Supplier Name: BELLSOUTH 9621 122801 28-DEC-O1 USD 4,564.48 4,564.48 954 VO8-9621 621 3363 122801 28-DEC-O1 USD 1,136.16 1,136.16 504 M83-3363 363 6892 122801 28-DEC-O1 USD 121.89 121.89 601 M23-6892 892 -------- -------- Total for Supplier : 5,822.53 5,822.53 Supplier Name: CINGULAR WIRELESS 122801 18-DEC-O1 USD 5,172.83 5,172.83 02409515-001-02 -------- -------- Total for Supplier : 5,172.83 5,172.83 Supplier Name: CLAY COUNTY PORT, INC. 013002 30-JAN-02 USD 1,600.00 1,600.00 FEBRUARY 2002 -------- -------- Total for Supplier : 1,600.00 1,600.00 Supplier Name: DIRECTV 0032-006733024 26-DEC-O1 USD 60.33 60.33 #006733024 0030-006733024A 26-OCT-O1 USD 60.33 60.33 ACCT#006733024 0031-006733024 26-NOV-O1 USD 60.33 60.33 ACCT#006733024 0024-0067330240 23-APR-O1 USD (659.33) (659.33) OVERPAID CK#4002327 ACCT#006733024 -------- -------- Total for Supplier : (478.34) (478.34)
Invoice Invoice Number Date Curr Amount Remaining Amount Invoice Description -------------- --------- ---- -------- ---------------- --------------------- Supplier Name: DIVERSEY LEVER, INC. 030706 18-DEC-O1 USD (8.97) (8.97) FUEL SURCHARGE CREDIT -------- -------- Total for Supplier : (8.97) (8.97) Supplier Name: EDELMAN PUBLIC RELATIONS WORLD WIDE INV-109372 14-DEC-O1 USD 3,205.47 3,205.47 PR NOV'01 -------- -------- Total for Supplier : 3,205.47 3,205.47 Supplier Name: ENTERGY 011502 15-JAN-02 USD 17,166.70 17,166.70 12/12-1/15/02 --------- --------- Total for Supplier : 17,166.70 17,166.70 Supplier Name: ICS LOGISTICS 0288148 04-JAN-O2 USD 990.00 990.00 0283958 07-DEC-O1 USD 990.00 990.00 0283955B 07-DEC-O1 USD 519.75 519.75 0284837B 14-DEC-O1 USD 841.50 841.50 0285850B 21-DEC-01 USD 1,155.00 1,155.00 0279009B 09-NOV-01 USD 1,483.25 1,483.25 0281965B 30-NOV-01 USD 1,666.50 1,666.50 0280764B 23-NOV-01 USD 222.75 222.75 0246815B 19-OCT-01 USD 1,031.25 1,031.25 0280754B 23-NOV-01 USD 965.25 965.25 0275849B 26-OCT-01 USD 651.75 651.75 0245847B 12-OCT-01 USD 1,056.00 1,056.00 0277994B 02-NOV-01 USD 1,509.75 1,509.75 0279991B 16-NOV-01 USD 1,881.00 1,881.00 --------- --------- Total for Supplier : 14,963.75 14,963.75 Supplier Name: IOS CAPITAL 52948867 28-SEP 01 USD 1,322.52 1,322.52 10/25-11/24/01 52948199 17-SEP 01 USD 152.50 152.50 10/12-11/11/01 --------- --------- Total for Supplier : 1,475.02 1,475.02
Invoice Invoice Number Date Curr Amount Remaining Amount Invoice Description -------------- ------- ---- --------- ---------------- ------------------- Supplier Name: IRON MOUNTAIN 8558081 31-JUL-O1 USD 32.58 32.58 742364 28-FEB-O1 USD 42.42 42.42 8578427 31-AUG-O1 USD 42.42 42.42 8578428 31-AUG-O1 USD 32.58 32.58 8811892 30-SEP-O1 USD 42.42 42.42 8811893 30-SEP-O1 USD 32.58 32.58 0573679 31-DEC-O1 USD 42.42 42.42 0573680 31-DEC-O1 USD 32.58 32.58 012402 24-JAN-02 USD (517.62) (517.62) 9907105 24-JAN-02 USD 297.00 297.00 TERMINATION FEE 6950627 03-DEC-00 USD 31.44 31.44 6950628 03-DEC-00 USD 12.00 12.00 6950629 03-DEC-00 USD 32.58 32.58 7253350 31-JAN-O1 USD 42.42 42.42 7253351 31-JAN-O1 USD 32.58 32.58 7423655 28-FEB-O1 USD 32.58 32.58 8558080 31-JUL-01 USD 42.42 42.42 7954394 31-MAY-O1 USD 42.42 42.42 7627479 31-MAR-O1 USD 32.58 32.58 7627478 31-MAR-O1 USD 42.42 42.42 --------- --------- Total for Supplier : 422.82 422.82 Supplier Name: ISLAND OASIS FROZEN COCKTAIL CO.,INC 111501 15-NOV-01 USD 1,137.25 1,137.25 --------- --------- Total for Supplier : 1,137.25 1,137.25 Supplier Name: KENTWOOD SPRINGS 263908 9 21-JAN-02 USD 58.86 58.86 --------- --------- Total for supplier : 58.86 58.86 Supplier Name: KRAMER, KEN 013102 31-JAN-02 USD (1,000.00) (1,000.00) CASH ADVANCE 101201 12-OCT-01 USD 1,731.20 1,731.20 T&E 10/6-12/01 101801A 18-OCT-O1 USD 427.16 427.16 T&E 10/13-18/01 101801 18-OCT-O1 USD 248.01 248.01 T&E 10/18/01 --------- --------- Total for Supplier : 1,406.37 1,406.37
Invoice Invoice Number Date Curr Amount Remaining Amount Invoice Description -------------- ------- ---- --------- ---------------- --------------------------- Supplier Name: MCI WORLDCOM CONFERENCING 120101 O1-DEC-O1 USD (46.07) (46.07) 01-00005980958-00691 --------- --------- Total for Supplier : (46 07) (46.07) Supplier Name: NEW ORLEANS PRIVATE PATROL SERVICE, INC. 0037597-IN 10-JAN-02 USD 1,886.80 1,886.80 SECURITY 1/1-10/02 --------- --------- Total for Supplier : 1,886.80 1,886.80 Supplier Name: QWEST 537226254 31-DEC-O1 USD 177.17 177.17 504 586-0631 536390137 15-DEC-O1 USD 10,588.86 10,588.86 954 660-3000 11/16-12/15/01 --------- --------- Total for Supplier : 10,766.03 10,766.03 Supplier Name: SOMERSET REFINERY, INC 12718B 25-OCT-O1 USD 3,771.46 0.01 PO#11923 --------- --------- Total for Supplier : 3,771.46 0.01 Supplier Name: SOUTHWESTERN BELL 0227 122401 24-DEC-O1 USD (14.66) (14.66) 314-436-0227-138-8 8922 120401 04-DEC-O1 USD (7.62) (7.62) 573 221-8922 555-7 --------- --------- Total for supplier : (22.28) (22.28) Supplier Name: SPRINT PCS 010402 04-JAN-02 USD 805.64 805.64 0056861692-1 --------- --------- Total for Supplier : 805.64 805.64 Supplier Name : ST. JOHNS FABRICATORS, INC. 1503 30-JAN-02 USD 1,822.50 1,822.50
Invoice Invoice Number Date Curr Amount Remaining Amount Invoice Description -------------- ------- ---- --------- ---------------- ------------------- Total for Supplier : 1,822.50 1,822.50 Supplier Name: SUNCOM 011502 15-JAN-02 USD 55.31 55.31 4.1062.10 --------- --------- Total for Supplier : 55.31 55.31 Supplier Name: WITHERS/SUDDATH RELOCATION SYSTEMS, INC. 145196 30-OCT-01 USD 1,040.00 10.00 60 DOLLIE LOADS --------- --------- Total for Supplier : 1,040.00 10.00 --------- --------- Total for Liability Account : 72,023.68 67,222.23 --------- --------- Total for Report : 72,023 68 67,222 23 ========= =========
DEBTOR: AMCV CRUISE OPERATIONS, INC. CASE NUMBER: 01-10967 (EIK) PRELIMINARY MONTHLY OPERATING REPORT AS OF JANUARY 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO JANUARY 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. Prepaid insurance and accruals for self-insured claims are un-reconciled pending receipt and final review of required information. 2. Asset sales commenced in the Florida and Louisiana offices during January and are ongoing as of period end.