EX-99.15 17 g74425ex99-15.txt OCEAN DEVELOPMENT CO. - JAN 02 REPORT EXHIBIT 99.15 DEBTOR: OCEAN DEVELOPMENT CO. CASE NUMBER: 01-10972 (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: OCEAN DEVELOPMENT CO. CASE NUMBER: 01-10972 (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 Monthly Operating Report
Summary Of Bank, Investment & Petty Cash Accounts Attachment 1 Ocean Development Co. Summary Case No: 01-10972 (EIK) UNAUDITED Ocean Development Co. 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 ------- ------------- ------------- ------------- ---------- ---------- Ocean Development Co. 0.00 0.00 No - No - Not No - City National Bank No Activity Concentration No Activity Account # - 1604832 Account ODC Disbursements 0.00 0.00 No- No - Not No LaSalle Bank No Activity Concentration No Activity Account # - 5800156167 Account ODC Payroll 8,265.77 0.00 Yes No - Not Yes LaSalle Bank Concentration Account # - 5800156175 Account Ocean Development Co. 0.00 0.00 No- Not A Bank No - Petty Cash No Activity Account No Activity
Receipts & Disbursements Attachment 2 Ocean Development Co. R&D -LASALLE Case No: 01-10972 (EIK) UNAUDITED ODC PAYROLL LaSalle ODC Payroll Account # - 5800156175 1 January 02 - 31 January 02
Opening Balance - 1 Jan 02 8,265.77 Receipts ---------- 0.00 Total Receipts Disbursements (29.15) Bank Fees (8,236.62) To The Delta Queen Steamboat Co - Hibernia - DQ Payroll - Account (812-395-289) ---------- (8,265.77) Total Disbursements Closing Balance - 31 Jan 02 0.00
Concentration & Investment Account Statements Attachment 3 Ocean Development Co. Summary Case No: 01-10972 (EIKI Ocean Development Co. For Month Of January, 2002 Attach 283
No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS INCOME STATEMENT - ATTACHMENT 4 Current Period: JAN-02 currency USD Company=61 (ODC)
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 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 Date: 25-FEB-02 09:50:26 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: JAN-02 currency USD Company=61 (ODC)
YTD-Actual YTD-Actual JAN-02 OCT-01 --------------- --------------- ASSETS Cash and Equivalent 0.00 118,106.14 Restricted Cash 0.00 0.00 Marketable Securities 0.00 0.00 Accounts Receivable 0.00 151,000.00 Inventories 0.00 0.00 Prepaid Expenses 0.00 2,428.25 Other Current Assets 0.00 12,086.31 Total Current Assets 0.00 283,620.70 Fixed Assets 0.00 475,030.49 Accumulated Depreciation 0.00 (200,064.63) Net Fixed Assets 0.00 274,965.86 Net Goodwill 0.00 0.00 Intercompany Due To/From (585,793.50) (661,080.60) 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 (585,793.50) (661,080.60) Total Assets (585,793.50) (102,494.04)
AMCV US SET OF BOOKS Date: 25-FEB-02 09:50:26 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: JAN-02 currency USD Company=61 (ODC)
YTD-Actual YTD-Actual JAN-02 OCT-01 -------------- -------------- LIABILITIES Accounts Payable 0.00 8,352.05 Accrued Liabilities 0.00 4,455.57 Deposits 0.00 0.00 ------------ ------------- Total Current Liabilities 0.00 12,807.62 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 ------------ ------------- Total Liabilities 0.00 12,807.62 OTHER Liabilities Subject to Compromise 12,807.62 0.00 ------------ ------------- Total Other 12,807.62 0.00 OWNER'S EQUITY Common Stock 1.00 1.00 Add'1 Paid In Capital 99.00 99.00 Current Net Income (Loss) 0.00 (34,923.61) Retained Earnings (598,701.12) (80,478.05) ------------- -------------- Total Owner's Equity (598,601.12) 115,301.66) ------------- -------------- Total Liabilities & Equity (585,793.50) (102,494.04) ------------- --------------
Ocean Development Co. 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 (206,379,952.56) -- -- (206,379,952.56) AMCV Cruise Operations, Inc. 01-10967 (1,564,704.50) 451,834.32 451,935.90 (1,564,806.08) The Delta Queen Steamboat Co. 01-10970 (2,221,004.51) 8,236.62 1,865.60 (2,214,633.49) Great Pacific NW Cruise Line, L.L.C. 01-10977 24,185,738.20 -- -- 24,185,738.20 Cruise America Travel, Incorporated 01-10966 (15,996.19) -- -- (15,996.19) Cape Cod Light, L.L.C. 01-10962 13,075,170.55 73,481.41 73,481.41 13,075,170.55 Cape May Light, 1L.L.C. 01-10961 14,604,239.22 528.00 528.00 14,604,239.22 Project America, Inc. N/A (121,769.93) -- -- (121,769.93) Oceanic Ship Co: N/A 16,588,600.15 -- -- 16,588,600.15 Project America Ship I, Inc. N/A 88,694,801.97 74,420.36 74,420.36 88,694,801.97 Project America Ship II, Inc. N/A 53,705,913.72 59,046.19 59,046.19 53,705,913.72 Great Hawaiian Properties Corporation 01-10971 (780,707.24) -- -- (780,707.24) CAT II, Inc. 01-10968 (362,391.82) -- -- (362,391.82) ---------------------------------------------------------------------- (592.062.94) 667.546.90 661.277.46 (585,793.50) ======================================================================
Ocean Development Co. Accounts Receivable Aging As of January 31, 2002 Attachment 7 Not Applicable Ocean Development Co. Accounts Payable Detail As of January 31, 2002 Attachment 8 Not Applicable DEBTOR: OCEAN DEVELOPMENT CO. CASE NUMBER: 01-10972 (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.