EX-99.5 7 g74425ex99-5.txt CAPE COD LIGHT, LLC. - JAN 02 REPORT EXHIBIT 99.5 DEBTOR: CAPE COD LIGHT, L.L.C. CASE NUMBER: 01-10962 (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. Nicholas J. Davison ---------------------------- Nicholas J. Davison Senior President, Finance DEBTOR: CAPE COD LIGHT, L.L.C. CASE NUMBER: 01-10962 (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 Cape Cod Light, L.L.C. Summary Case No: 01-10962 (EIK) UNAUDITED Cape Cod Light, _LC For Month Of January,
Balances ----------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 1/01/02 As Of 1/31/02 Included Included Reconciled ------- -------------- ------------- -------------- -------- ---------- Cape Cod Light Escrow 8,158,727.80 8,158,727.80 No - Account Is No - Account Is No US Dept Of Transportation Under Control Under Control Maritime Administration Of Maritime Of Maritime Adminstration Adminstration - No Statements
Receipts & Disbursements Attachment 2 Cape Cod Light, L.L.C. Summary Case No: 01-10962 (EIK) Cape Cod Light, LLC For Month Of January, 2002 Attach 2&3 No Receipts Or Disbursements Due To No Bank Or Investment Accounts Concentration & Investment Account Statements Attachment 3 Cape Cod Light, L.L.C. Summary Case No: 01-10962 (EIK) Cape Cod light, LLC For Month Of January, 2002 Attach 2&3 No Statements Due To No Concentration Or Investment Accounts ATTACHMENT 4 AMCV US SET OF BOOKS INCOME STATEMENT - ATTACHMENT 4 Current Period: JAN-02 currency USD Company=32 (CAPE COD LIGHT)
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 990.00 --------- Total SG&A Expenses 990.00 --------- EBITDA (990.00) --------- Depreciation 0.00 --------- Operating Income (990.00) Other Expense/(Income) Interest Income 0.00 Interest Expense 8,616.94 Equity in Earnings for Sub 0.00 Reorganization expenses 0.00 Total Other Expense/(Income) 8,616.94 --------- Net Pretax Income/(Loss) (9,606.94) --------- Income Tax Expense 0.00 --------- Net Income/(Loss) (9,606.94) ---------
ATTACHMENT 5 AMCV US SET OF BOOKS BALANCE SHEET - ATTACHMENT 5 Current Period: JAN-02 currency USD Company=32 (CAPE COD LIGHT)
YTD-Actual YTD-Actual JAN-02 OCT-01 --------------- --------------- ASSETS Cash and Equivalent 0.00 0.00 Restricted Cash 8,158,728.00 8,158,728.00 Marketable Securities 0.00 0.00 Accounts Receivable 0.00 42.00 Inventories 217,563.69 217,563.69 Prepaid Expenses 69,900.00 74,900.00 Other Current Assets 0.00 0.00 --------------- --------------- Total Current Assets 8,446,191.69 8,451,233.69 Fixed Assets 35,993,283.77 35,993,283.77 Accumulated Depreciation 0.00 0.00 --------------- --------------- Net Fixed Assets 35,993,283.77 35,993,283.77 Net Goodwill 0.00 0.00 Intercompany Due To/From (13,326,245.98) (13,322,516.26) Net Deferred Financing Fees 2,602,317.20 2,630,465.87 Net Investment in Subsidiaries 0.00 0.00 Other Non Current Assets 0.00 0.00 --------------- --------------- Total Other Assets (10,723,928.78) (10,692,050.39) --------------- --------------- Total Assets 33,715,546.68 33,752,467.07 --------------- ---------------
ATTACHMENT 5 (CONT) AMCV US SET OF BOOKS BALANCE SHEET - ATTACHMENT 5 Current Period: JAN-02 currency USD Company=32 (CAPE COD LIGHT)
YTD-Actual YTD-Actual JAN-02 OCT-01 --------------- --------------- LIABILITIES Accounts Payable 0.00 0.00 Accrued Liabilities 75,000.00 75,000.00 Deposits 0.00 0.00 --------------- --------------- Total Current Liabilities 75,000.00 75,000.00 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 --------------- --------------- Total Liabilities 75,000.00 75,000.00 OTHER Liabilities Subject to Compromise 40,041,676.00 40,041,676.00 --------------- --------------- Total Other 40,041,676.00 40,041,676.00 OWNER'S EQUITY Common Stock 0.00 0.00 Add'1 Paid In Capital 0.00 0.00 Current Net Income (Loss) (9,606.94) (4,661,527.14) Retained Earnings (6,391,522.38) (1,702,681.79) --------------- --------------- Total Owner's Equity (6,401,129.32) (6,364,208.93) --------------- --------------- Total Liabilities & Equity 33,715,546.68 33,752,467.07 --------------- ---------------
Cape Code Light, L.L.C. 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 1,670,131.78 -- -- 1,670,131.78 AMCV Cruise Operations, Inc. 01-10967 (3,947,213.20) -- 990.00 (3,948,203.20) The Delta Queen Steamboat Co. 01-10970 1,436,292.11 -- -- 1,436,292.11 DQSB II, Inc. 01-10974 (82.74) -- -- (82.74) Great AQ Steamboat, L.L.C. 01-10960 500,000.00 -- -- 500,000.00 Great River Cruise Line, L.L.C. 01-10963 270.05 -- -- 270.05 Great Ocean Cruise Line, L.L.C. 01-10959 (4,980.00) -- -- (4,980.00) Cruise America Travel, Incorporated 01-10966 (2,706.08) -- -- (2,706.08) Delta Queen Coastal Voyages, L.L.C. 01-10964 1,302.19 -- -- 1,302.19 Cape May Light, L.L.C. 01-10961 8,675.31 -- -- 8,675.31 Project America, Inc. N/A (52,500.00) -- -- (52,500.00) Oceanic Ship Co. N/A 42,930.22 -- -- 42,930.22 Project America Ship II, Inc. N/A 97,472.74 -- -- 97,472.74 Ocean Development Co. 01-10972 (13,075,170.55) 73,481.41 73,481.41 (13,075,170.55) American Hawaiian Properties Corporation 01-10976 (31,777.30) -- -- (31,777.30) Great Independence Ship Co. 01-10969 32,099.49 -- -- 32,099 49 ---------------- --------- ---------- --------------- (13,325,255.98) 73,481.41 74 471.41 (13,326,245 98) ================ ========= ========== ===============
CAPE COD LIGHT, L.L.C. ACCOUNTS RECEIVABLE AGING AS OF JANUARY 31, 2002 ATTACHMENT 7 NOT APPLICABLE CAPE COD LIGHT, L.L.C. ACCOUNTS PAYABLE DETAIL AS OF JANUARY 31, 2002 ATTACHMENT 8 NOT APPLICABLE DEBTOR: CAPE COD LIGHT, L.L.C. CASE NUMBER: 01-10962 (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. 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. Deferred financing costs represent costs incurred in connection with placing pre- petition debt instruments. Deferred financing costs are being amortized to interest expense over the term of the applicable debt instrument. The Debtor has ceased paying cash interest on its long-term debt, and accordingly, has ceased accruing for such payments as interest expense. 3. Restricted cash represents escrowed proceeds from debt issued to finance the construction of the Cape Cod Light. The debt is guaranteed by, and the restricted cash is controlled by, the U.S. Maritime Administration. This account was last reconciled on October 22, 2001. The trustee has not provided to the Debtor additional information needed to reconcile the account since that date. 4. The Cape Cod Light was under construction at the time the Debtor filed for Chapter 11 bankruptcy protection. The vessel is not complete and remains at the facilities of the shipbuilder, Atlantic Marine, Inc. DEBTOR: CAPE COD LIGHT, L.L.C. CASE NUMBER: 01-10962 (EIK) PRELIMINARY MONTHLY OPERATING REPORT AS OF JANUARY 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO JANUARY MONTHLY OPERATING REPORT 5. Accrued liabilities contains an accrual for vessel lay-up. The Debtor has ceased recording further accruals pending the outcome of Chapter 11 proceedings. 6. Prepaid insurance and accruals for self-insured claims are un-reconciled pending receipt and final review of required information.