EX-99.14 16 g74425ex99-14.txt GREAT HAWAIIAN PROPERTIES CORP - JAN 02 REPORT EXHIBIT 99.14 DEBTOR: GREAT HAWAIIAN PROPERTIES CORPORATION CASE NUMBER: 01-10971 (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/ N. J. Davison -------------------------------------- Nicholas J. Davison Senior Vice President, Finance DEBTOR: GREAT HAWAIIAN PROPERTIES CORPORATION CASE NUMBER: 01-10971 (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
Summary Of Bank And Investment Accounts Attachment 1 Great Hawaiian Properties Corporation SUMMARY Case No: 01-10971 (EIK) UNAUDITED GREAT HAWAIIAN PROPERTIES CORP For Month Of January, 2002
Balances ------------------------------ Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 1/01/02 As Of 1/31/02 Included Included Reconciled ------- ------------- ------------- ------------- ---------- ---------- AHC - Honolulu Disbursements 0.00 0.00 No - No - No - Bank One No Activity No Activity No Activity Account # - 552-0110649303 AHC - Mainland Credit Cards 0.00 0.00 Yes No - Not Yes Bank One Concentration Account # - 552-0110521579 Account AHC - Mainland Disbursements 0.00 0.00 No - No - No Bank One No Activity No Activity No Activity Account # - 552-0110673395 AHC - Mainland Payroll 41,173.74 46,796.72 Yes No - Not Yes Bank One Concentration Account # - 552-0110673387 Account AHC - Master Cash 0.00 0.00 No- No - No Bank One No Activity No Activity No Activity Account # - 552-0110673360 AHC - Honolulu Credit Cards 0.00 (84.00) Yes No - Not Yes Bank One Concentration Account # - 552-0110572580 Account Great Hawaiian Prop Corp 0.00 0.00 No- No- No Goldman Sachs & Co. No Activity No Activity No Activity Account # - 020-33478-5
Receipts & Disbursements Attachment 2-1 Great Hawaiian Properties Corporatior R&D - Bank One Case No: 01-10971 (EIK) UNAUDITED AHC Mainland Credit Cards Bank One AHC Mainland Credit Cards Account # - 552-0110521579 1 January 02 - 31 January 02
Opening Balance - 1 Jan 02 0.00 Receipts 3,151.90 Receipts From Credit Cards ---------- 3,151.90 Total Receipts Disbursements (252.00) Bank Fees (2,899.90) To Great Hawaiian Properties Corporation - Bank One - AHC Mainland Payroll - Account (552-0110673387) ---------- (3,151.90) Total Disbursements Closing Balance - 31 Jan 02 0.00
Receipts & Disbursements Attachment 2-2 Great Hawaiian Properties Corporation R&D - Bank One Case No: 01-10971 (EIK) AHC Mainland Payroll Bank One UNAUDITED AHC Mainland Payroll Account # - 552-0110673387 1 January 02 - 31 January 0
Opening Balance - 1 Jan 02 41,173.74 Receipts 2,173.58 From Oceanic Ship Co - Bank One - Oceanic Credit Card -Account (1583503949) Account (552-0110673360) 2,899.90 From Great Hawaiian Properties Corporation - Bank One - AHC Mainland Credit Card - Account (552-0110521579) 773.50 From The Delta Queen Steamboat Co. - Bank One - DQ Credit Card Account (552-0110062868) ---------- 5,846.98 Total Receipts Disbursements (84.00) To Great Hawaiian Properties Corporation - Bank One - AHC Honolulu Credit Card - Account (552-0110572580) (140.00) To Oceanic Ship Co - Bank One - Oceanic Credit Card -Account (1583503949) ---------- (224.00) Total Disbursements Closing Balance - 31 Jan 02 46,796.72
Receipts & Disbursements Attachment 2-3 Great Hawaiian Properties Corporation R&D- Bank One Case No: 01-10971 (EIK) UNAUDITED AHC Honolulu Credit Cards Bank One AHC Honolulu Credit Cards Account # - 552-0110572580 1 January 02 - 31 January02
Opening Balance - 1 Jan 02 0.00 Receipts 84.00 From Great Hawaiian Properties Corporation - Bank One - AHC Mainland Payroll - Account (552-0110673387) ---------- 84.00 Total Receipts Disbursements (168.00) Bank Fees ---------- (168.00) Total Disbursements Closing Balance - 31 Jan 02 (84.00)
Concentration & Investment Account Statements Attachment 3 Great Hawaiian Properties Corporation Summary Case No: 01-10971 (EIK) Great Hawaiian Properties Corp For Month Of January. 2002 Attach 2&3
No Statements Due To No Concentration Or Investment Accounts AMCV US SL2 OF BOOKS DATE: 22-FLE-02 09:15:49 INCOME STATEMENT - ATTACHMENT 4 PAGE: 1 CURRENT PERIOD: JAN-02 CURRENCY USD COMPANY=51(AHC - OPERATIONS)
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 SALES & MARKETING 0.00 PRE-OPENING COSTS 0.00 ----- TOTAL SG&A EXPENSES 0.00 ----- EBITDA 0.00 DEPRECIATION 0.00 OPERATING INCOME 0.00 OTHER EXPENSE/ (INCOME) INTEREST INCOME 0.00 INTEREST EXPENSE 0.00 EQUITY IN EARNINGS FOR SUB 0.00 REORGANIZATION EXPENSES 0.00 ----- TOTAL OTHER EXPENSE/(INCOME) 0.00 ----- NET PRETAX INCOME/(LOSS) 0.00 ----- INCOME TAX EXPENSE 0.00 ----- NET INCOME/ (LOSS) 0.00 -----
AMCV US SET OF BOOKS BALANCE SHEET - ATTACHMENT 5 Current Period: JAN-02 currency USD Company=51 (AHC - OPERATIONS)
YTD-Actual YTD-Actual JAN-02 CT-01 -------------- --------------- ASSETS Cash and Equivalent 46,796.72 665,214.37 Restricted Cash 0.00 0.00 Marketable Securities 0.00 0.00 Accounts Receivable 0.00 0.00 Inventories Note 1 34,955.08 36,560.78 Prepaid Expenses 0.00 1,609.00 Other Current Assets 0.00 0.00 --------------- --------------- Total Current Assets 81,751.80 703,384.15 Fixed Assets 1,992,727.87 1,992,727.87 Accumulated Depreciation (1,687,090.91) (1,687,090.91) --------------- --------------- Net Fixed Assets 305,636.96 305,636.96 Net Goodwill 0.00 0.00 Intercompany Due To/From 20,941,524.74 20,319,892.39 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 20,941,524.74 20,319,892.39 --------------- --------------- Total Assets 21,328,913.50 21,328,913.50 --------------- ---------------
AMCV US SET OF BOOKS Date: 22-FEu-02 09:28:38 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: JAN-02 currency USD Company=51 (AHC - OPERATIONS)
YTD-Actual YTD-Actual JAN-02 OCT-01 -------------- -------------- LIABILITIES Accounts Payable 0.00 0.00 Accrued Liabilities 0.00 0.00 Deposits 0.00 0.00 Total Current Liabilities 0.00 0.00 Long Term Debt 0.00 0.00 Other Long Term Liabilities (15,184,601.60) (15,184,601.60) -------------- -------------- Total Liabilities 15,184,601.60) (15,184,601.60) OTHER Liabilities Subject to Compromise 0.00 0.00 -------------- -------------- Total Other 0.00 0.00 OWNER'S EQUITY Common Stock 9,440.25 9,440.25 Add'1 Paid In Capital 83,336,732.73 83,336,732.73 Current Net Income (Loss) 0.00 (516,397.64) Retained Earnings (46,832,657.88) (46,316,260.24) -------------- -------------- Total Owner's Equity 36,513,515 36,513,515.10 -------------- -------------- Total Liabilities & Equity 21,328,913.50 21,328,913.50 -------------- --------------
Great Hawaiian Properties Corporation 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 50,730,599.25 380,442.02 70.68 51,110,970.59 AMCV Cruise Operations, Inc. 01-10967 6,121,103.54 -- 4,228.48 6,116,875.06 The Delta Queen Steamboat Co. 01-10970 (856,702.41) 1,400.00 391,771.36 (1,247,073.77) Great AQ Steamboat, L.L.C. 01-10960 22,591.38 -- -- 22,591.38 Great Pacific NW Cruise Line, L.L.C. 01-10977 66,513.26 -- 66,513.26 Great River Cruise Line, L.L.C. 01-10963 41,555.00 -- 41,555.00 Great Ocean Cruise Line, L.L.C. 01-10959 34,964.32 -- 34,964.32 Cape May Light, L.L.C. 01-10961 (4,188.00) -- -- (4,188.00) Project America, Inc. N/A (3006,981.48) -- 621.00 (3.007,602.48) Oceanic Ship Co. N/A (345,917) (345,917.07) Ocean Development Co. 011 0972 780,707.24 -- -- 780,707.24 Great Hawaiian Cruise Line, Inc. 01-10975 (3,667,617.75) -- (3,667,617.75) American Hawaiian Properties Corporation 01-10976 (62,430.01) 8,452.90 8,452.90 (62,430.01) Great Independence Ship Co. 01-10969 (28,898,393.97) -- -- (28,898,393.97) Cat 11, Inc. 01-10968 570.94 -- -- 570.94 ------------------------------------------------------------------------- 20,956,374.24 390,294.92 405,144 42 20,941,524 74 =========================================================================
Great Hawaiian Properties Corporation Accounts Receivable Aging As of January 31, 2002 Attachment 7 Not Applicable Great Hawaiian Properties Corporation Accounts Payable Detail As of January 31, 2002 Attachment 8 Not Applicable DEBTOR: GREAT HAWAIIAN PROPERTIES CORPORATION CASE NUMBER: 01-10971 (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. Amount represents obsolete in inventory that is held for auction. 2. Other long-term liabilities consists of deferred tax assets and liabilities, net. Deferred tax assets and liabilities have been recognized for the expected future tax consequences of temporary differences between carrying amounts and the tax bases of assets and liabilities. The Debtor has not recorded adjustments to these amounts pending the outcome of Chapter 11 proceedings.