EX-99.14 16 g75742ex99-14.txt GREAT HAWAIIAN PROPERTIES CORP-MARCH 02 REPORT EXHIBIT 99.16 DEBTOR: GREAT HAWAIIAN PROPERTIES CORPORATION CASE NUMBER: 01-10971(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: GREAT HAWAIIAN PROPERTIES CORPORATION CASE NUMBER: 01-10971(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 Attachment 1 8:34 PM Summary UNAUDITED Great Hawaiian Properties Corp Summary Of Bank And Investment Accounts Great Hawaiian Properties Corporation Case No: 01-10971 (EIK) For Month Of March, 2002
Balances ------------------------------ Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 3/01/02 As Of 3/31/02 Included Included Reconciled ------- ------------- ------------- -------- -------- ---------- AHC - Honolulu Disbursements 0.00 0.00 No - No - No - Bank One Account Account Account Account # - 552-0110649303 Closed Closed Closed AHC - Mainland Credit Cards 0.00 900.00 Yes No - Not Yes Bank One Concentration Account # - 552-0110521579 Account AHC - Mainland Disbursements 0.00 0.00 No - No - No - Bank One Account Account Account Account # - 552-0110673395 Closed Closed Closed AHC - Mainland Payroll 0.00 0.00 No - No - No - Bank One Account Account Account Account # - 552-0110673387 Closed Closed Closed AHC - Master Cash 0.00 0.00 No - No - No - Bank One Account Account Account Account # - 552-0110673360 Closed Closed Closed AHC - Honolulu Credit Cards 0.00 0.00 No - No - No - Bank One Account Account Account Account # - 552-0110572580 Closed Closed Closed Great Hawaiian Prop Corp 0.00 0.00 No - No - No - Goldman Sachs & Co. Account Account Account Account # - 020-33478-5 Closed Closed Closed
16-Apr-02 Attachment 2-1 8:36 PM R&D - Bank One UNAUDITED AHC Mainland Credit Cards Receipts & Disbursements Great Hawaiian Properties Corporation Case No: 01-10971 (EIK) Bank One AHC Mainland Credit Cards Account # - 552-0110521579 1 March 02 - 31 March 02 Opening Balance - 1 Mar 02 0.00 Receipts 900.00 Chargeback Reversals -------- 900.00 Total Receipts Disbursements -------- 0.00 Total Disbursements Closing Balance - 31 Mar 02 900.00
16-Apr-02 Attachment 3 8:35 PM Summary Great Hawaiian Properties Corp Attach 3 Concentration & Investment Account Statements Great Hawaiian Properties Corporation Case No: 01-10971 (EIK) For Month Of March, 2002 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 19-APR-02 08:27:42 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: MAR-02 currency USD Company=51 (AHC - OPERATIONS)
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 Sales & Marketing 0.00 Start-Up 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 319,206.74 Other expense (900.00) ---------- Total Other Expense/(Income) 318,306.74 ---------- Net Pretax Income/(Loss) (318,306.74) Income Tax Expense 0.00 ---------- Net Income/(Loss) (318,306.74) ==========
AMCV US SET OF BOOKS Date: 18-APR-02 17:04:30 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: MAR-2 currency USD Company=51 (AHC - OPERATIONS)
YTD-Actual YTD-Actual 31-Mar-02 22-Oct-01 -------------- -------------- ASSETS Cash and Equivalent 900.00 665,214.37 Restricted Cash 0.00 0.00 Accounts Receivable 0.00 0.00 Inventories 0.00 36,560.78 Prepaid Expenses 0.00 1,609.00 Other Current Assets 0.00 0.00 -------------- -------------- Total Current Assets 900.00 703,384.15 Fixed Assets 0.00 1,992,727.87 Accumulated Depreciation 0.00 (1,687,090.91) -------------- -------------- Net Fixed Assets 0.00 305,636.96 Net Goodwill 0.00 0.00 Intercompany Due To/From 21,009,706.76 20,319,892.39 Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries 0.00 0.00 -------------- -------------- Total Other Assets 21,009,706.76 20,319,892.39 -------------- -------------- Total Assets 21,010,606.76 21,328,913.50 ============== ==============
AMCV US SET OF BOOKS Date: 18-APR-02 17:04:30 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: MAR-2 currency USD Company=51 (AHC - OPERATIONS)
YTD-Actual YTD-Actual 31-Mar-02 22-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'l Paid In Capital 83,336,732.73 83,336,732.73 Current Net Income (Loss) (318,306.74) (516,397.64) Retained Earnings (46,832,657.88) (46,316,260.24) -------------- -------------- Total Owner's Equity 36,195,208.36 36,513,515.10 -------------- -------------- Total Liabilities & Equity 21,010,606.76 21,328,913.50 ============== ==============
Great Hawaiian Properties Corporation 01-10971(JCA) ATTACHMENT 6 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 51,110,970.59 -- -- 51,110,970.59 AMCV Cruise Operations, Inc. 01-10967 6,116,875.06 -- -- 6,116,875.06 The Delta Queen Steamboat Co. 01-10970 (1,247,073.77) -- -- (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 (3,007,602.48) -- -- (3,007,602.48) Oceanic Ship Co. N/A (345,917.07) -- -- (345,917.07) Ocean Development Co. 01-10972 780,707.24 -- -- 780,707.24 Great Hawaiian Cruise Line, Inc. 01-10975 (3,620,821.03) 21,385.30 -- (3,599,435.73) American Hawaii Properties Corporation 01-10976 (62,430.01) -- -- (62,430.01) Great Independence Ship Co. 01-10969 (28,898,393.97) -- -- (28,898,393.97) CAT II, Inc. 01-10968 570.94 -- -- 570.94 ----------------------------------------------------------- 20,988,321.46 21,385.30 -- 21,009,706.76 ===========================================================
Great Hawaiian Properties Corporation 01-10971 (EIK) Accounts Receivable Aging As of March 31, 2002 Attachment 7 Not Applicable Great Hawaiian Properties Corporation 01-10971 (EIK) Accounts Payable Detail As of March 31, 2002 Attachment 8 Not Applicable DEBTOR: GREAT HAWAIIAN PROPERTIES CORPORATION CASE NUMBER: 01-10971 (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. Proceeds of the auctions have been reconciled and the resulting loss on disposition has been recorded. 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.