EX-99.13 15 g75742ex99-13.txt DELTA QUEEN STEAMBOAT CO-MARCH 02 OPERATING REPORT Exhibit 99.13 DEBTOR: THE DELTA QUEEN STEAMBOAT COMPANY CASE NUMBER: 01-10970 (EIK) MONTHLY OPERATING REPORT AS OF MARCH 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 March 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: THE DELTA QUEEN STEAMBOAT COMPANY CASE NUMBER: 01-10970 (EIK) MONTHLY OPERATING REPORT AS OF MARCH 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 March Monthly Operating Report
16-Apr-02 Summary Of Bank And Investment Accounts Attachment 1 4:59 PM The Delta Queen Steamboat Co. Summary Case No: 01-10970 (EIK) UNAUDITED The Delta Queen For Month Of March, 2002 Steamboat Co.
Balances ------------------------------ Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 3/01/02 As Of 3/31/02 Included Included Reconciled ------- ------------- ------------- -------- -------- ---------- Delta Queen Controlled Disb 29,759.71 11,687.85 Yes Yes Yes Hibernia Account # - 542027373 Delta Queen Master Cash 247,191.78 345,733.39 Yes Yes Yes Hibernia Account # - 812-395-335 Delta Queen Payroll 106,334.06 35,947.79 Yes No - Not Yes Hibernia Concentration Account # - 812-395-289 Account The Delta Queen Steamboat Co. 0.00 0.00 No - No - No - LaSalle - Wealth Management Account Account Account Account # - TNE-043290 Closed Closed Closed The Delta Queen Steamboat Co. 0.00 0.00 No - No - No - AmSouth Account Account Account Account # - 19356307 Closed Closed Closed Delta Queen 0.00 0.00 No - No - No - LaSalle Account Account Account Account # - 5800155771 Closed Closed Closed DQ Credit Card 0.00 5,541.02 Yes No - Not Yes Bank One Concentration Account # - 552-0110062868 Account DQ Master Cash 0.00 0.00 No - No - No - Bank One Account Account Account Account # - 552-0110256700 Closed Closed Closed The Delta Queen Steamboat Co 53,772.73 162,406.21 Yes No - Not Yes Receipts Concentration Hibernia Account Account # - 882-390-047 The Delta Queen Steamboat Co 0.00 0.00 No - No - No - Receipts Account Account Account LaSalle Closed Closed Closed Account # - 5800155839 The Delta Queen Steamboat Co 250,712.50 499,877.32 Yes No - Not Yes Escrow Account Concentration LaSalle Account Account # - 62-8930-70-3
16-Apr-02 Receipts & Disbursements Attachment 2-1 5:03 PM The Delta Queen Steamboat Co. R&D - Hibernia Case No: 01-10970 (EIK) UNAUDITED DQ Controlled Disb Hibernia Controlled Disbursements Account # - 542027373 1 March 02 - 31 March 02 Opening Balance - 1 Mar 02 29,759.71 Receipts 612,455.71 From The Delta Queen Steam Boat Co. - Hibernia - DQSC Master Cash - Account (812-395-335) ---------- 612,455.71 Total Receipts Disbursements (60,426.40) Benefits - Afloat Employees (22,584.28) Benefits - Shore Employees (361.20) Commission - DQ - FY 01 (5,520.43) Crew Medical & Maintenance (P&I) (4,358.58) Crew Replacement Check - Pre-Petition (6,786.83) Crew Union Dues/Other Employee Payments (3,000.00) Passenger Refunds - FY 02 (62,663.53) Professional Fees (30,128.45) SG&A - Finance (378.68) SG&A - Hotel Operations (626.51) SG&A - Human Resources (28,067.64) SG&A - IT/Communications (48,275.41) SG&A - Legal/Risk Management (2,205.33) SG&A - Office - Chicago (53,471.71) SG&A - Office - New Orleans (2,503.34) SG&A - Office - Weston (3,845.56) SG&A - Passenger Services (186,070.83) SG&A - Sales & Marketing (2,331.06) Start-Up - MQ (48,794.00) Taxes (136.03) Vessel - DQ FY 01 Operations (57,991.77) Vessel - Tie-Up/Other ---------- (630,527.57) Total Disbursements Closing Balance - 31 Mar 02 11,687.85
16-Apr-02 Receipts & Disbursements Attachment 2-2 5:06 PM The Delta Queen Steamboat Co. R&D - Hibernia Case No: 01-10970 (EIK) UNAUDITED DQ Master Cash Hibernia DQ Master Cash Account # - 812-395-335 1 March 02 - 31 March 02 Opening Balance - 1 Mar 02 247,191.78 Receipts 1,900,000.00 From American Classic Voyages Co - Credit Suisse Asset Management - Account (247003452) 615,000.00 From AMCV Cruise Operations, Inc. - First Union - AMCV Cruise Ops Master Cash - Account (2090002602362) 305,768.46 Misc Local Deposits - Primarily FY 02 Deposits En Route To Escrow Account 25.00 From Hibernia - Reimbursement From Bank Error ------------ 2,820,793.46 Total Receipts Disbursements (612,455.71) To The Delta Queen Steam Boat Co. - Hibernia - DQSC Contr. Disb. - Account (542027373) (19,766.21) Airline Reporting Clearinghouse (149,865.28) 401K Payroll Payments (75,000.00) To The Delta Queen Steam Boat Co. - Hibernia - DQSC Receipts - Account (882-390-047) (90,000.00) To Great AQ Steamboat, LLC - Hibernia - AQ Steamer - Account (812-395-343) (220,000.00) To The Delta Queen Steam Boat Co. - Hibernia - DQ Payroll - Account (812-395-289) (170,000.00) To Great River Cruise Line, LLC - Hibernia - DQ Steamer - Account (812-395-270) (8,472.88) Sysco - Food (3,825.00) Consulting (61,207.49) Insurance (2,984.50) Moving Expense - Miami To New Orleans (450,000.00) To Cape Cod Light, LLC - Hibernia Investments , LLC Cape Cod Light Security - Account (4R6-771783) (248,954.53) To The Delta Queen Steam Boat Co. - LaSalle Bank - DQSC Escrow - Account (62-8930-70-3) (607,009.14) Professional Fees (700.00) Returned Check (2,011.11) UPS ---------- (2,722,251.85) Total Disbursements Closing Balance - 31 Mar 02 345,733.39
16-Apr-02 Receipts & Disbursements Attachment 2-3 5:07 PM The Delta Queen Steamboat Co. R&D - Hibernia Case No: 01-10970 (EIK) UNAUDITED DQ Payroll Hibernia DQ Payroll Account # - 812-395-289 1 March 02 - 31 March 02 Opening Balance - 1 Mar 02 106,334.06 Receipts 220,000.00 From The Delta Queen Steam Boat Co. - Hibernia - DQSC Master Cash - Account (812-395-335) ---------- 220,000.00 Total Receipts Disbursements (256,066.29) Payroll - Wires (34,319.98) Payroll - Checks ---------- (290,386.27) Total Disbursements Closing Balance - 31 Mar 02 35,947.79
16-Apr-02 Receipts & Disbursements Attachment 2-4 5:18 PM The Delta Queen Steamboat Co. R&D - BankOne Case No: 01-10970 (EIK) UNAUDITED DQ Credit Cards Bank One Delta Queen Credit Cards Account # - 552-0110062868 1 March 02 - 31 March 02 Opening Balance - 1 Mar 02 0.00 Receipts 5,541.02 Credit Card Charge Back Reversal - Paymentech ---------- 5,541.02 Total Receipts Disbursements To Great Hawaiian Properties Corporation - Bank One - AHC Mainland Payroll Account (552-0110673387) ---------- 0.00 Closing Balance - 31 Mar 02 5,541.02
16-Apr-02 Receipts & Disbursements Attachment 2-5 5:19 PM The Delta Queen Steamboat Co. R&D - Hibernia Case No: 01-10970 (EIK) UNAUDITED DQSC Receipts Hibernia DQSC Receipts Account # - 882-390-047 1 March 02 - 31 March 02 Opening Balance - 1 Mar 02 53,772.73 Receipts 75,000.00 From The Delta Queen Steamboat Company - Hibernia - DQ Master Cash Account (812-395-335) 92,028.75 From Credit Card Processor ---------- 167,028.75 Total Receipts Disbursements (57,088.21) Credit Card Processor Fees (1,307.06) Credit Card Chargebacks ---------- (58,395.27) Total Disbursements Closing Balance - 31 Mar 02 162,406.21
16-Apr-02 Receipts & Disbursements Attachment 2-6 5:23 PM The Delta Queen Steamboat Co. R&D - LaSalle Case No: 01-10970 (EIK) UNAUDITED DQSC Escrow LaSalle DQSC Escrow Account # - 62-8930-70-3 1 March 02 - 31 March 02 Opening Balance - 1 Mar 02 250,712.50 Receipts 248,954.53 From The Delta Queen Steamboat Company - Hibernia - DQ Master Cash Account (812-395-335) 210.29 Interest Income ---------- 249,164.82 Total Receipts Disbursements ---------- 0.00 Total Disbursements Closing Balance - 31 Mar 02 499,877.32
AMCV US SET OF BOOKS Date: 19-APR-02 08:27:41 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: MAR-02 currency USD Company=20 (DELTA QUEEN STEAM CO)
PTD-Actual 31-Mar-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 1,306.00 Sales & Marketing 0.00 Start-Up Costs 0.00 ----------- Total SG&A Expenses 1,306.00 ----------- EBITDA (1,306.00) Depreciation 41,145.00 ----------- Operating Income (42,451.00) Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub (709,494.51) Reorganization expenses 13,703.55 Other expense (5,179.02) ----------- Total Other Expense/(Income) 718,019.04 ----------- Net Pretax Income/(Loss) (760,470.04) Income Tax Expense 0.00 ----------- Net Income/(Loss) (760,470.04) ===========
AMCV US SET OF BOOKS Date: 18-APR-02 17:04:25 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: MAR-2 currency USD Company=20 (DELTA QUEEN STEAM CO)
YTD-Actual YTD-Actual 31-Mar-02 22-Oct-02 ------------- ------------- ASSETS Cash and Equivalent 506,872.93 2,494,983.63 Restricted Cash 0.00 0.00 Accounts Receivable 2,225,828.23 0.00 Inventories 638,824.91 840,779.06 Prepaid Expenses 0.00 13,147.33 Other Current Assets 0.00 0.00 ------------- ------------- Total Current Assets 3,371,526.07 3,348,910.02 Fixed Assets 7,971,277.75 8,202,345.75 Accumulated Depreciation (5,406,616.56) (5,195,800.16) ------------- ------------- Net Fixed Assets 2,564,661.19 3,006,545.59 Net Goodwill 0.00 0.00 Intercompany Due To/From 37,643,033.69 37,437,552.28 Net Deferred Financing Fees 0.00 5,434.15 Net Investment in Subsidiaries 31,053,137.36 33,999,708.26 ------------- ------------- Total Other Assets 68,696,171.05 71,442,694.69 ------------- ------------- Total Assets 74,632,358.31 77,798,150.30 ============= =============
AMCV US SET OF BOOKS Date: 18-APR-02 17:04:25 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: MAR-2 currency USD Company=20 (DELTA QUEEN STEAM CO)
YTD-Actual YTD-Actual 31-Mar-02 22-Oct-02 ------------- ------------ LIABILITIES Accounts Payable 0.00 0.00 Accrued Liabilities 6,660.89 0.00 Deposits 0.00 0.00 ------------- ------------ Total Current Liabilities 6,660.89 0.00 Long Term Debt 0.00 0.00 Other Long Term Liabilities 9,993,779.93 9,993,779.93 ------------- ------------ Total Liabilities 10,000,440.82 9,993,779.93 OTHER Liabilities Subject to Compromise 577,835.68 577,835.68 ------------- ------------ Total Other 577,835.68 577,835.68 OWNER'S EQUITY Common Stock 1,000.00 1,000.00 Add'l Paid In Capital 33,564,332.71 33,564,332.71 Current Net Income (Loss) (2,301,446.38) (2,866,520.92) Retained Earnings 32,790,195.48 36,527,722.90 ------------- ------------ Total Owner's Equity 64,054,081.81 67,226,534.69 ------------- ------------ Total Liabilities & Equity 74,632,358.31 77,798,150.30 ============= ============
The Delta Queen Steamboat Co. ATTACHMENT 6 01-10970(JCA) Summary List of Due To/Due From Accounts For the Month Ended March 31, 2002
BEGINNING ENDING AFFILIATE NAME CASE ID # BALANCE DEBITS CREDITS BALANCE --------- -------------- ------------ ------------ -------------- American Classic Voyages Co. 01-10954 (6,325,037.83) 5,400.41 7,575.57 (6,327,212.99) AMCV Cruise Operations, Inc. 01-10967 102,975,538.81 1,480,958.72 2,250,423.38 102,206,074.15 Great AQ Steamboat, L.L.C 01-10960 (17,101,370.49) 150,351.23 39,922.57 (16,990,941.83) Great Pacific NW Cruise Line, L.L.C 01-10977 (8,436,809.68) 32,092.21 9,483.86 (8,414,201.33) Great River Cruise Line, L.L.C 01-10963 (6,833,173.43) 237,313.06 208,919.57 (6,804,779.94) Great Ocean Cruise Line, L.L.C 01-10959 (14,935,686.13) 170,017.90 1,693,478.13 (16,459,146.36) Cruise America Travel, Incorporated 01-10966 252,135.90 24,580.96 4,631.02 272,085.84 Delta Queen Coastal Voyages, L.L.C 01-10964 (901,471.80) 450,000.00 15,558.57 (467,030.37) Cape Cod Light, L.L.C 01-10962 (1,436,292.11) 67,562.32 35,329.58 (1,404,059.37) Cape May Light, L.L.C 01-10961 (8,466,448.11) 67,562.32 32,232.74 (8,431,118.53) Project America, Inc. N/A (2,935,356.03) -- -- (2,935,356.03) Oceanic Ship Co. N/A (136,810.43) -- -- (136,810.43) Project America Ship I, Inc. N/A 255,723.41 -- -- 255,723.41 Project America Ship II, Inc. N/A (142,646.25) -- -- (142,646.25) Ocean Development Co. 01-10972 2,214,633.49 -- -- 2,214,633.49 Great Hawaiian Cruise Line, Inc. 01-10975 381.00 -- -- 381.00 Great Hawaiian Properties Corporation 01-10971 1,247,073.77 -- -- 1,247,073.77 American Hawaii Properties Corporation 01-10976 43,550.29 -- -- 43,550.29 Great Independence Ship Co. 01-10969 (83,084.83) -- -- (83,084.83) CAT II, Inc. 01-10968 (100.00) -- -- (100.00) -------------- ------------ ------------ -------------- 39,254,749.55 2,685,839.13 4,297,554.99 37,643,033.69 ============== ============ ============ ==============
The Delta Queen Steamboat Company 01-10970 (EIK) Accounts Receivable Aging As of March 31, 2002 Attachment 7 Not Applicable The Delta Queen Steamboat Company 01-10970 (EIK) Accounts Payable Detail As of March 31, 2002 Attachment 8 Not Applicable DEBTOR: THE DELTA QUEEN STEAMBOAT COMPANY CASE NUMBER: 01-10970 (JCA) PRELIMINARY MONTHLY OPERATING REPORT AS OF MARCH 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO MARCH 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 been performed internally. 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. 3. An accounts receivable aging is not provided herein as all monies are held in escrow by the credit card processor until completion of the voyage for which the monies have been provided.