8-K

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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report: (Date of earliest event reported): June 13, 2002

American Classic Voyages Co.
(Exact Name of Registrant as Specified in Its Charter)

Delaware
(State or Other Jurisdiction of Incorporation)

0-9264 (Commission File Number)	31-0303330 (IRS Employer Identification Number)
Two North Riverside Plaza, Suite 600 Chicago, Illinois (Address of Principal Executive Offices)	60606 (Zip Code)

(312) 466-3171
(Registrant’s Telephone Number, Including Area Code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

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Item 5. Other Events.

     As previously reported, on October 19, 2001, American Classic Voyages Co. (the “Company”) filed a voluntary petition for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code (“Chapter 11”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). On October 22, 2001, all of the Company’s subsidiaries other than Oceanic Ship Co., Project America, Inc., Project America Ship I, Inc. and Project America Ship II, Inc. (the “Non-Filing Subsidiaries”) filed a voluntary petition for bankruptcy protection under Chapter 11 in the Bankruptcy Court. On October 22, 2001, the Non-Filing Subsidiaries ceased all operations and the secured creditor, Holland America Line, took possession of the ms Patriot (the primary asset of Oceanic Ship Co.) in connection with the uncontested foreclosure of its maritime lien on the vessel. All subsidiaries of the Company other than the Non-Filing Subsidiaries are hereinafter referred to as the “Filing Subsidiaries.”

     Pursuant to the requirements of the previously disclosed filings under Chapter 11, on July 2, 2002, each of the Company and the Filing Subsidiaries filed a monthly operating report for the month ended May 31, 2002 (a “May 2002 Monthly Operating Report,” and collectively, the “Reports”) with the U.S. Trustee Office.

     On May 31, 2002, also as previously disclosed, seven of the Filing Subsidiaries completed the sale of substantially all their assets to DNPS Delta Queen Steamboat Company, Inc. The sale transaction is reflected in the attached Reports.

     The financial data included in the Reports is not audited. The Reports are in a format prescribed by applicable bankruptcy laws. There can be no assurance that, from the perspective of an investor or potential investor in the Company’s securities, the Reports are complete or presented on a basis consistent with the Company’s previous periodic filings. The Reports also contain information for periods different from those required in the Company’s reports pursuant to the Securities Exchange Act of 1934, as amended (“the Exchange Act”). This information might not be indicative of the Company’s financial condition or operating results for the period that would be reflected in the Company’s financial statements or in its reports pursuant to the Exchange Act. Results set forth in any of the Reports should not be viewed as indicative of future results.

     On June 13, 2002, the Debtors completed the forfeiture of four vessels to the Maritime Administration, the secured creditor. The forfeited vessels are the Columbia Queen, Cape May Light, Cape Cod Light, and ss Independence. Individually, these vessels were the primary assets of Great Pacific NW Cruise Line, LLC, Cape May Light, LLC, Cape Cod Light, LLC and Great Independence Ship Co., respectively. The Debtors have relinquished all possession of and control over these vessels.

2

     Copies of the Reports filed by each of the Company and the Filing Subsidiaries on July 2, 2002, are attached as Exhibits 99.1 through Exhibit 99.20 hereto.(1)

Item 7. Exhibits.

Exhibit Number	Exhibit
99.1	American Classic Voyages Co. May 2002 Monthly Operating Report, filed July 2, 2002
99.2	Great Ocean Cruise Line, L.L.C. May 2002 Monthly Operating Report, filed July 2, 2002
99.3	Great AQ Steamboat, L.L.C. May 2002 Monthly Operating Report, filed July 2, 2002
99.4	Cape May Light, L.L.C. May 2002 Monthly Operating Report, filed July 2, 2002
99.5	Cape Cod Light, L.L.C. May 2002 Monthly Operating Report, filed July 2, 2002
99.6	Great River Cruise Line, L.L.C. May 2002 Monthly Operating Report, filed July 2, 2002
99.7	Delta Queen Coastal Voyages, L.L.C. May 2002 Monthly Operating Report, filed July 2, 2002
99.8	DQSC Property Co. May 2002 Monthly Operating Report, filed July 2, 2002
99.9	Cruise America Travel, Incorporated May 2002 Monthly Operating Report, filed July 2, 2002
99.10	AMCV Cruise Operations, Inc. May 2002 Monthly Operating Report, filed July 2, 2002

(1) The Reports are included herein in their entirety except for Attachment 3 — Bank and Investment Account Statements (“Attachment 3”), which has been omitted. A summary of the activity presented on the respective Attachments 3 is included on the respective Attachments 2 — Schedule of Receipts and Disbursements for each of the Company and the Filing Subsidiaries.

3

99.11	CAT II, Inc. May 2002 Monthly Operating Report, filed July 2, 2002
99.12	Great Independence Ship Co. May 2002 Monthly Operating Report, filed July 2, 2002
99.13	The Delta Queen Steamboat Co. May 2002 Monthly Operating Report, filed July 2, 2002
99.14	Great Hawaiian Properties Corporation May 2002 Monthly Operating Report, filed July 2, 2002
99.15	Ocean Development Co. May 2002 Monthly Operating Report, filed July 2, 2002
99.16	AMCV Holdings, Inc. May 2002 Monthly Operating Report, filed July 2, 2002
99.17	DQSB II, Inc. May 2002 Monthly Operating Report, filed July 2, 2002
99.18	Great Hawaiian Cruise Line, Inc. May 2002 Monthly Operating Report, filed July 2, 2002
99.19	American Hawaii Properties Corporation May 2002 Monthly Operating Report, filed July 2, 2002
99.20	Great Pacific NW Cruise Line, L.L.C. May 2002 Monthly Operating Report, filed July 2, 2002

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SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	AMERICAN CLASSIC VOYAGES CO.
Date: July 10, 2002	By: /s/ JORDAN B. ALLEN
	Jordan B. Allen, Executive Vice President and General Counsel

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Exhibit Index

Exhibit Number	Exhibit
99.1	American Classic Voyages Co. May 2002 Monthly Operating Report, filed July 2, 2002
99.2	Great Ocean Cruise Line, L.L.C. May 2002 Monthly Operating Report, filed July 2, 2002
99.3	Great AQ Steamboat, L.L.C. May 2002 Monthly Operating Report, filed July 2, 2002
99.4	Cape May Light, L.L.C. May 2002 Monthly Operating Report, filed July 2, 2002
99.5	Cape Cod Light, L.L.C. May 2002 Monthly Operating Report, filed July 2, 2002
99.6	Great River Cruise Line, L.L.C. May 2002 Monthly Operating Report, filed July 2, 2002
99.7	Delta Queen Coastal Voyages, L.L.C. May 2002 Monthly Operating Report, filed July 2, 2002
99.8	DQSC Property Co. May 2002 Monthly Operating Report, filed July 2, 2002
99.9	Cruise America Travel, Incorporated May 2002 Monthly Operating Report, filed July 2, 2002
99.10	AMCV Cruise Operations, Inc. May 2002 Monthly Operating Report, filed July 2, 2002
99.11	CAT II, Inc. May 2002 Monthly Operating Report, filed July 2, 2002
99.12	Great Independence Ship Co. May 2002 Monthly Operating Report, filed July 2, 2002

99.13	The Delta Queen Steamboat Co. May 2002 Monthly Operating Report, filed July 2, 2002
99.14	Great Hawaiian Properties Corporation May 2002 Monthly Operating Report, filed July 2, 2002
99.15	Ocean Development Co. May 2002 Monthly Operating Report, filed July 2, 2002
99.16	AMCV Holdings, Inc. May 2002 Monthly Operating Report, filed July 2, 2002
99.17	DQSB II, Inc. May 2002 Monthly Operating Report, filed July 2, 2002
99.18	Great Hawaiian Cruise Line, Inc. May 2002 Monthly Operating Report, filed July 2, 2002
99.19	American Hawaii Properties Corporation May 2002 Monthly Operating Report, filed July 2, 2002
99.20	Great Pacific NW Cruise Line, L.L.C. May 2002 Monthly Operating Report, filed July 2, 2002

EX-99.1 3 g77172exv99w1.txt AMERICAN CLASSIC VOYAGES CO. MAY 2002 EXHIBIT 99.1 DEBTOR: AMERICAN CLASSIC VOYAGES CO. CASE NUMBER: 01-10954 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ STEVE MOELLER - ---------------------- Steve Moeller Director, Accounting DEBTOR: AMERICAN CLASSIC VOYAGES CO. CASE NUMBER: 01-10954 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report 28-Jun-02 Summary Of Bank And Investment Accounts Attachment 1 2:46 PM American Classic Voyages Co Summary Case No: 01-10954 (JCA) UNAUDITED American Classic For Month Of May, 2002 Voyages Co

Balances ------------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 5/01/02 As Of 5/31/02 Included Included Reconciled - ------- ------------- ------------- ------------- ---------- ---------- AMCV Deferred Compensation 0.00 0.00 No - No - No - Bank One Account Account Account Account # - 1590101554 Closed Closed Closed AMCV Dental Benefits 0.00 0.00 No - No - No - Chase (JP Morgan Chase & Co) Account Account Account Account # - 002-2-426530 Closed Closed Closed AMCV Employee Stock Plan 0.00 0.00 No - No - No - LaSalle Bank Account Account Account Account # - 5800015140 Closed Closed Closed AMCV Insurance 0.00 0.00 No - No - No - LaSalle Bank Account Account Account Account # - 5800021411 Closed Closed Closed AMCV Medical Benefits 0.00 5,020.40 Yes No - Not Yes Chase (JP Morgan Chase & Co) Concentration Account # - 002-2-426522 Account American Classic Voyages Co 0.00 0.00 No - No - No - Master Cash Account Account Account LaSalle Bank Closed Closed Closed Account # - 2355464 American Classic Voyages Co 0.00 0.00 No - No - No - Payroll Account Account Account LaSalle Bank Closed Closed Closed Account # - 2369368 American Classic Voyages Co 0.00 0.00 No - No - No - PAC Account Account Account LaSalle Bank Closed Closed Closed Account # - 2355882 American Classic Voyages Co 4,549,322.15 36,351,784.01 Yes Yes Yes Investment Account Credit Suisse Asset Management Account # - 247003452 American Classic Voyages Co 0.00 0.00 No - No - No - Investment Account Account Account Account Goldman Sachs & Co. Closed Closed Closed Account # - 020-53613-2 American Classic Voyages Co 0.00 0.00 No - No - No - Investment Account Account Account Account Merrill Lynch Closed Closed Closed Account # - 318-3271750-7 American Classic Voyages Co 0.00 0.00 No - No - No - Investment Account Account Account Account Conifer Securities Closed Closed Closed Account # - 330-50683 1-8

28-Jun-02 Receipts & Disbursements Attachment 2-1 3:59 PM American Classic Voyages R&D - Chase - Case No: 01-10954 (JCA) UNAUDITED AMCV Med Ben Chase AMCV Medical Benefits Account # - 002-2-426522 1 May 02 - 31 May 02 Opening Balance - 1 May 02 0.00 Receipts 152.93 From The Delta Queen Steamboat Company - Hibernia - DQ Master Cash Account (812-395-335) 5,020.40 From United Healthcare (Reversal) -------- 5,173.33 Total Receipts Disbursements (152.93) To United Healthcare -------- (152.93) Total Disbursements Closing Balance - 31 May 02 5,020.40 28-Jun-02 Receipts & Disbursements Attachment 2-2 2:53 PM American Classic Voyages R&D - Credit Case No: 01-10954 (JCA) UNAUDITED Suisse Investment Credit Suisse Account Investment Account Account # - 247003452 1 May 02 - 31 May 02 Opening Balance - 1 May 02 4,549,322.15 Receipts 33,847,410.87 Sale Proceeds 5,050.99 Interest Earned ------------- 33,852,461.86 Total Receipts Disbursements (2,050,000.00) To The Delta Queen Steamboat Company - Hibernia - DQ Master Cash Account (812-395-335) ------------- (2,050,000.00) Total Disbursements Closing Balance - 31 May 02 36,351,784.01 AMCV US SET OF BOOKS Date: 27-JUN-02 16:19:40 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: MAY-02 currency USD Company=10 (AMCV)

PTD-Actual 31-May-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 351,027.10 Sales & Marketing 0.00 Start-Up Costs 0.00 ------------ Total SG&A Expenses 351,027.10 ------------ EBITDA (351,027.10) Depreciation 13,928.82 ------------ Operating Income (364,955.92) Other Expense/(Income) Interest Income (6,317.19) Interest Expense 21,683.13 Equity in Earnings for Sub (7,819,454.62) Reorganization expenses 576,546.09 ------------ Total Other Expense/(Income) 8,411,366.65 ------------ Net Pretax Income/(Loss) (8,776,322.57) Income Tax Expense 0.00 ------------ Net Income/(Loss) (8,776,322.57) ============

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:06 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: MAY-02 currency USD Company=10 (AMCV)

YTD-Actual YTD-Actual 31-May-02 19-Oct-01 -------------- -------------- ASSETS Cash and Equivalent 36,351,783.16 10,343,248.25 Restricted Cash 0.00 0.00 Marketable Securities 0.00 337.15 Accounts Receivable 3,678,916.74 3,678,916.74 Inventories 0.00 0.00 Prepaid Expenses 126,493.48 0.00 Other Current Assets 0.00 0.00 -------------- -------------- Total Current Assets 40,157,193.38 14,022,502.14 Fixed Assets 4,979,716.68 4,979,716.68 Accumulated Depreciation (4,602,341.22) (4,497,369.91) -------------- -------------- Net Fixed Assets 377,375.46 482,346.77 Net Goodwill 79,265.96 81,420.64 Intercompany Due To/From 236,656,664.11 265,726,906.60 Net Deferred Financing Fees 3,251,377.18 3,408,954.89 Net Investment in Subsidiaries 28,407,072.75 48,551,297.73 Other Non Current Assets 0.00 109,986.54 -------------- -------------- Total Other Assets 268,394,380.00 317,878,566.40 -------------- -------------- Total Assets 308,928,948.84 332,383,415.31 ============== ==============

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:06 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: MAY-02 currency USD Company=10 (AMCV)

YTD-Actual YTD-Actual 31-May-02 19-Oct-01 -------------- -------------- LIABILITIES Accounts Payable 0.00 0.00 Accrued Liabilities 1,650,228.36 1,089,864.63 Deposits 0.00 0.00 -------------- -------------- Total Current Liabilities 1,650,228.36 1,089,864.63 Long Term Debt 0.00 0.00 Other Long Term Liabilities (3,221,982.41) (3,434,093.96) -------------- -------------- Total Liabilities (1,571,754.05) (2,344,229.33) OTHER Liabilities Subject to Compromise 200,418,510.55 200,418,510.55 -------------- -------------- Total Other 200,418,510.55 200,418,510.55 OWNER'S EQUITY Common Stock 211,013.08 211,013.08 Add'l Paid In Capital 204,438,037.35 204,438,037.35 Current Net Income (Loss) (20,546,391.09) (40,694,620.74) Retained Earnings (74,020,467.00) (29,645,295.60) -------------- -------------- Total Owner's Equity 110,082,192.34 134,309,134.09 -------------- -------------- Total Liabilities & Equity 308,928,948.84 332,383,415.31 ============== ==============

American Classics ATTACHMENT 6 01-10954 (JCA) Voyages Co. Summary List of Due To/ Due From Accounts For the Month Ended May 31, 2002

BEGINNING ENDING AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE AMCV Cruise Operations, Inc. 01-10967 80,160,257.79 3,204,520.62 34,670,835.12 48,693,943.29 The Delta Queen Steamboat Co. 01-10970 6,324,564.18 -- 22,302.71 6,302,261.47 DQSB II, Inc. 01-10974 22,836.06 -- -- 22,836.06 Great AQ Steamboat, L.L.C. 01-10960 (22,408,601.79) 1,606.50 -- (22,406,995.29) Great Pacific NW Cruise Line, L.L.C. 01-10977 (15,481,864.66) 3,410.46 -- (15,478,454.20) Great River Cruise Line, L.L.C. 01-10963 6,701,911.57 897.51 -- 6,702,809.08 Great Ocean Cruise Line, L.L.C. 01-10959 (29,630,103.62) 56,681.49 -- (29,573,422.13) Cruise America Travel, Incorporated 01-10966 103,377.71 -- -- 103,377.71 Delta Queen Coastal Voyages, L.L.C. 01-10964 934,299.38 -- -- 934,299.38 Cape Cod Light, L.L.C. 01-10962 (1,670,131.78) -- -- (1,670,131.78) Cape May Light, L.L.C. 01-10961 (657,443.89) 72.92 -- (657,370.97) Project America, Inc. N/A (29,154,390.86) -- -- (29,154,390.86) Oceanic Ship Co. N/A 41,570,650.91 -- 1,680.00 41,568,970.91 Project America Ship I, Inc. N/A 1,793,166.15 -- -- 1,793,166.15 Project America Ship II, Inc. N/A 27,241,846.63 -- -- 27,241,846.63 Ocean Development Co. 01-10972 206,379,952.56 -- -- 206,379,952.56 Great Hawaiian Cruise Line, Inc. 01-10975 3,571,229.75 -- -- 3,571,229.75 Great Hawaiian Properties Corporation 01-10971 (51,110,970.59) -- -- (51,110,970.59) American Hawaii Properties Corporation 01-10976 2,485,515.74 -- -- 2,485,515.74 Great Independence Ship Co. 01-10969 24,948,774.58 -- -- 24,948,774.58 CAT II, Inc. 01-10968 15,959,416.62 -- -- 15,959,416.62 -------------- ------------ ------------- -------------- 268,084,292.44 3,267,189.50 34,694,817.83 236,656,664.11 ============== ============ ============= ==============

American Classic Voyages Co. 01-10954 (JCA) Accounts Receivable Aging As of May 31, 2002 Attachment 7 Not Applicable American Classic Voyages Co. 01-10954 (JCA) Accounts Payable Detail As of May 31, 2002 Attachment 8 Not Applicable DEBTOR: AMERICAN CLASSIC VOYAGES CO. CASE NUMBER: 01-10954 (JCA) MONTHLY OPERATING REPORT AS OF MAY 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO MAY 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. 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. 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. The Debtor has ceased recording accruals for distributions on its Trust Preferred securities. Historically, these accruals for these distributions were charged to "interest expense and other financing costs." 4. Accounts Receivable represents pre-petition total hold-backs by Paymentech, Inc., the Debtor's credit card processing agent against pre-petition customer deposits. Detail for such hold-backs has not been received from Paymentech, Inc. 5. The cash proceeds of $33.8 million from sale of assets by some of the Debtors were received on May 31, 2002. The proceeds will be transferred to the appropriate Debtor after final calculation of all closing costs and declaration of the purchase price allocation by the purchaser. EX-99.2 4 g77172exv99w2.txt GREAT OCEAN CRUISE LINE, L.L.C. MAY 2002 EXHIBIT 99.2 DEBTOR: GREAT OCEAN CRUISE LINE, L.L.C. CASE NUMBER: 01-10959 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ STEVE MOELLER - ----------------------- Steve Moeller Director, Accounting DEBTOR: GREAT OCEAN CRUISE LINE, L.L.C. CASE NUMBER: 01-10959 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report 7-Jun-02 Summary Of Bank, Investment & Attachment 1 12:18 PM Petty Cash Accounts Summary Great Ocean Cruise Line, L.L.C. UNAUDITED Great Ocean Case No: 01-10959 (JCA) Cruise Line, LLC For Month Of May, 2002

Balances ------------------------------ Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 5/01/02 As Of 5/31/02 Included Included Reconciled - ------- ------------- ------------- ------------- ---------- ---------- Mississippi Queen Steamer 100,000.00 48,196.81 Yes No - Not Yes Hibernia Concentration Account # - 812-502-719 Account Mississippi Queen 0.00 0.00 Yes Not A Bank Yes Petty Cash Account

28-Jun-02 Receipts & Disbursements Attachment 2-1 4:15 PM Great Ocean Cruise Line, L.L.C. R&D - Hibernia - Case No: 01-10959 (JCA) UNAUDITED MQ Steamer Hibernia Mississippi Queen Steamer Account Account # - 812-502-719 1 May 02 - 31 May 02 Opening Balance - 1 May 02 100,000.00 Receipts 75,000.00 From The Delta Queen Steamboat Company - Hibernia - Master Cash Account (812-395-335) ---------- 75,000.00 Total Receipts Disbursements ---------- 0.00 Total Disbursements (* See Footnote) Closing Balance - 31 May 02 48,196.81 * $126,803.19 Of Disbursements Not Reflected In Disbursements Above Due To Being Reimbursed By Buyer Of Assets At Closing. 28-Jun-02 Receipts & Disbursements Attachment 2-2 1:01 PM Great Ocean Cruise Line, L.L.C. R&D - MQ - Petty Cash Case No: 01-10959 (JCA) UNAUDITED Mississippi Queen Petty Cash Account # - NA 1 May 02 - 31 May 02 Opening Balance - 1 May 02 0.00 Receipts 210,000.00 From The Delta Queen Steamboat Company - Hibernia - Master Cash Account (812-395-335) ---------- 210,000.00 Total Receipts Disbursements ---------- 0.00 Total Disbursements (* See Footnote) Closing Balance - 31 May 02 0.00 * $210,000 Of Disbursements Not Reflected In Disbursements Above Due To Being Reimbursed By Buyer Of Assets At Closing. 7-Jun-02 Concentration & Investment Attachment 3 12:31 PM Account Statements Summary Great Ocean Cruise Line, L.L.C. Great Ocean Case No: 01-10959 (JCA) Cruise Line, LLC For Month Of May, 2002 Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 27-JUN-02 17:31:03 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: MAY-02 currency USD Company=21 (MISSISSIPPI QUEEN)

PTD-Actual 31-May-02 ------------ Revenue Gross Revenue (1,272.25) Allowances 115,961.33 ------------ Net Revenue 114,689.08 Operating Expenses Air 0.00 Hotel 0.00 Commissions 0.00 Onboard Expenses 43,203.92 Passenger Expenses 2,961.60 Vessel Expenses (32,925.21) Layup/Drydock Expense 0.00 Vessel Insurance 13,090.10 ------------ Total Operating Expenses 26,330.41 ------------ Gross Profit 88,358.67 SG&A Expenses Sales & Marketing 0.00 Start-Up Costs 289,847.84 ------------ Total SG&A Expenses 289,847.84 ------------ EBITDA (201,489.17) Depreciation 0.00 ------------ Operating Income (201,489.17) Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub 0.00 Reorganization expenses 5,643,435.79 ------------ Total Other Expense/(Income) 5,643,435.79 ------------ Net Pretax Income/(Loss) (5,844,924.96) Income Tax Expense 0.00 ------------ Net Income/(Loss) (5,844,924.96) ============

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:13 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: MAY-02 currency USD Company=21 (MISSISSIPPI QUEEN)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 ------------- ------------- ASSETS Cash and Equivalent 31,878.22 91,427.94 Restricted Cash 0.00 0.00 Accounts Receivable 27,274.85 61,448.42 Inventories 0.00 387,173.50 Prepaid Expenses 0.00 9,438.70 Other Current Assets 0.00 (14,555.00) ------------- ------------- Total Current Assets 59,153.07 534,933.56 Fixed Assets 0.00 32,530,486.54 Accumulated Depreciation 0.00 (22,994,750.57) ------------- ------------- Net Fixed Assets 0.00 9,535,735.97 Net Goodwill 0.00 0.00 Intercompany Due To/From 21,754,996.22 19,836,574.32 Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries 0.00 0.00 ------------- ------------- Total Other Assets 21,754,996.22 19,836,574.32 ------------- ------------- Total Assets 21,814,149.29 29,907,243.85 ============= =============

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:13 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: MAY-02 currency USD Company=21 (MISSISSIPPI QUEEN)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 ------------- ------------- LIABILITIES Accounts Payable 1,826.90 9,423.11 Accrued Liabilities 0.00 935,232.90 Deposits 0.00 0.00 ------------- ------------- Total Current Liabilities 1,826.90 944,656.01 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 ------------- ------------- Total Liabilities 1,826.90 944,656.01 OTHER Liabilities Subject to Compromise 2,667,587.11 2,827,647.41 ------------- ------------- Total Other 2,667,587.11 2,827,647.41 OWNER'S EQUITY Common Stock 0.00 0.00 Add'l Paid In Capital 4,571,000.00 4,571,000.00 Current Net Income (Loss) (6,632,407.44) (984,131.23) Retained Earnings 21,206,142.72 22,548,071.66 ------------- ------------- Total Owner's Equity 19,144,735.28 26,134,940.43 ------------- ------------- Total Liabilities & Equity 21,814,149.29 29,907,243.85 ============= =============

Great American Cruise ATTACHMENT 6 01-10954 (JCA) Line, LLC Summary List of Due To/ Due From Accounts For the Month Ended May 31, 2002

BEGINNING ENDING AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 29,630,103.62 151.50 56,832.99 29,573,422.13 AMCV Cruise Operations, Inc. 01-10967 (21,632,478.01) 1,000,901.60 1,402,197.00 (22,033,773.41) The Delta Queen Steamboat Co. 01-10970 17,986,662.31 7,203,329.32 7,554,381.53 17,635,610.10 DQSB II, Inc. 01-10974 (877.52) -- -- (877.52) Great AQ Steamboat, L.L.C. 01-10960 14,507.47 -- -- 14,507.47 Great Pacific NW Cruise Line, L.L.C. 01-10977 10,219.55 212,020.45 212,020.45 10,219.55 Great River Cruise Line, L.L.C. 01-10963 (242,859.89) 27,733.16 288,824.02 (503,950.75) Cruise America Travel, Incorporated 01-10966 (2,953,907.27) 4,171,666.50 4,171,666.50 (2,953,907.27) Delta Queen Coastal Voyages, L.L.C. 01-10964 85,950.95 -- -- 85,950.95 Cape Cod Light, L.L.C. 01-10962 4,980.00 -- -- 4,980.00 Cape May Light, L.L.C. 01-10961 1,844.01 -- -- 1,844.01 Project America, Inc. N/A (4,475.20) -- -- (4,475.20) Great Hawaiian Cruise Line, Inc. 01-10975 (37,394.43) -- -- (37,394.43) Great Hawaiian Properties Corporation 01-10971 (34,964.32) -- -- (34,964.32) Great Independence Ship Co. 01-10969 (2,195.09) -- -- (2,195.09) ------------- ------------- ------------- ------------- 22,825,116.18 12,615,802.53 13,685,922.49 21,754,996.22 ============= ============= ============= =============

GREAT OCEAN CRUISE LINE, L.L.C. CASE #: 01-10959 (JCA) ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

DETAIL: 0-30 DAYS 31-60 DAYS 61-90 DAYS 91+ DAYS TOTAL Paymentech Credit Card Processor 27,274.85 27,274.85 American Express Credit Card Processor 0.00 Discover Credit Card Processor 0.00 Diners Credit Card Processor 0.00 Travel Agents 0.00 ---------- ----------- ----------- --------- --------- Total 0.00 0.00 0.00 27,274.85 27,274.85 ========== =========== =========== ========= =========

ATTACHMENT # 7 MISSISSIPPI QUEEN AP-STEAMER CHECKS 21-000-221300-00000 MAY-02 OUTSTANDING CHECKS: 17103 Garrett TV & Appliances 498.75 17104 Marvin Ross 957.96 17165 Jim Coulson-MCI 50.69 17183 S. Baham-Spiegel 20.00 17190 C. Sisson-J. Sisson 199.50 17248 A. Sisson-J. Sisson 100.00 --------- Total per G/L: 1,826.90 ========= ATTACHMENT # 8 DEBTOR: GREAT OCEAN CRUISE LINE, L.L.C. CASE NUMBER: 01-10959 (JCA) PRELIMINARY MONTHLY OPERATING REPORT AS OF MAY 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO MAY MONTHLY OPERATING REPORT The information contained herein is unaudited. 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. The Debtor completed a sale of assets on May 31, 2002 (the "Close date"). The sale included the Debtor's primary asset, the Mississippi Queen, and all inventories. In connection therewith, the Debtor recorded a loss on disposition of $5.6 million. This amount, which is included in reorganization expenses, is an estimate that will be adjusted when the Debtor receives a final allocation of the purchase price from the Purchaser. The asset purchase agreement allows the Purchaser sixty days to provide an allocation between the purchased assets. 2. The Mississippi Queen resumed voyage sailing on May 7, 2002 (the "Cut-off date"). Pursuant to the asset purchase agreement, the revenue and expenses from the Cut-off date to the Close date accrued to the benefit of the Purchaser. The revenue and expenses are not reflected herein on Attachment 4 and the cash disbursements for such expenses were not reflected herein on Attachment 2. 3. As part of the asset sale, the Purchaser reimbursed the Debtor for credit card commission previously incurred which benefited future voyages. The Debtor recorded a credit to commission expense to reflect this reimbursement. EX-99.3 5 g77172exv99w3.txt GREAT AQ STEAMBOAT, L.L.C. MAY 2002 EXHIBIT 99.3 DEBTOR: GREAT AQ STEAMBOAT, L.L.C. CASE NUMBER: 01-10960 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ STEVE MOELLER - ------------------------ Steve Moeller Director, Accounting DEBTOR: GREAT AQ STEAMBOAT, L.L.C. CASE NUMBER: 01-10960 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report 7-Jun-02 Summary Of Bank, Investment & Attachment 1 12:39 PM Petty Cash Accounts Summary Great AQ Steamboat, L.L.C. UNAUDITED Great AQ Case No: 01-10960 (JCA) Steamboat, LLC For Month Of May, 2002

Balances ------------------------------ Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 5/01/02 As Of 5/31/02 Included Included Reconciled - ------- ------------- ------------- ------------- ---------- ---------- American Queen Steamer 0.00 0.00 No - No - Not No - Hibernia No Activity Concentration No Activity Account # - 812-395-343 Account American Queen 0.00 0.00 No - Not A Bank No - Petty Cash No Activity Account No Activity

7-Jun-02 Receipts & Disbursements Attachment 2 12:42 PM Great AQ Steamboat, L.L.C. Summary Case No: 01-10960 (JCA) Great AQ Steamboat, LLC For Month Of May, 2002 Attach 2 No Receipts Or Disbursements Due To All Accounts Closed 7-Jun-02 Concentration & Investment Attachment 3 12:42 PM Account Statements Summary Great AQ Steamboat, L.L.C. Great AQ Case No: 01-10960 (EIK) Steamboat, LLC For Month Of May, 2002 Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 27-JUN-02 16:30:21 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: MAY-02 currency USD Company=23 (AMERICAN QUEEN)

PTD-Actual 31-May-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 167.97 Vessel Expenses 6,831.31 Layup/Drydock Expense 0.00 Vessel Insurance 14,353.47 ------------- Total Operating Expenses 21,352.75 ------------- Gross Profit (21,352.75) SG&A Expenses Sales & Marketing 0.00 Start-Up Costs 0.00 ------------- Total SG&A Expenses 0.00 ------------- EBITDA (21,352.75) Depreciation 0.00 ------------- Operating Income (21,352.75) Other Expense/(Income) Interest Income 0.00 Interest Expense 1,091,147.10 Equity in Earnings for Sub 0.00 Reorganization expenses (16,160,925.91) ------------- Total Other Expense/(Income) (15,069,778.81) ------------- Net Pretax Income/(Loss) 15,048,426.06 Income Tax Expense 0.00 ------------- Net Income/(Loss) 15,048,426.06 =============

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:20 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: MAY-02 currency USD Company=23 (AMERICAN QUEEN)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 ------------- ------------- ASSETS Cash and Equivalent 0.00 27,915.55 Restricted Cash 0.00 0.00 Accounts Receivable 18,398.71 100,111.04 Inventories 0.00 436,746.94 Prepaid Expenses 0.00 1,126.00 Other Current Assets 0.00 189,129.97 ------------- ------------- Total Current Assets 18,398.71 755,029.50 Fixed Assets 0.00 76,449,630.83 Accumulated Depreciation 0.00 (23,703,366.77) ------------- ------------- Net Fixed Assets 0.00 52,746,264.06 Net Goodwill 0.00 0.00 Intercompany Due To/From 33,526,033.89 11,900,053.46 Net Deferred Financing Fees 0.00 561,110.86 Net Investment in Subsidiaries 0.00 0.00 ------------- ------------- Total Other Assets 33,526,033.89 12,461,164.32 ------------- ------------- Total Assets 33,544,432.60 65,962,457.88 ============= =============

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:20 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: MAY-02 currency USD Company=23 (AMERICAN QUEEN)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 ------------- ------------- LIABILITIES Accounts Payable 1,774.58 5,469.58 Accrued Liabilities 0.00 754,127.79 Deposits 0.00 25.00 ------------- ------------- Total Current Liabilities 1,774.58 759,622.37 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 ------------- ------------- Total Liabilities 1,774.58 759,622.37 OTHER Liabilities Subject to Compromise 2,341,087.01 48,583,115.71 ------------- ------------- Total Other 2,341,087.01 48,583,115.71 OWNER'S EQUITY Common Stock 1,000.00 1,000.00 Add'l Paid In Capital 4,060,000.00 4,060,000.00 Current Net Income (Loss) 14,765,919.71 (493,470.71) Retained Earnings 12,374,651.30 13,052,190.51 ------------- ------------- Total Owner's Equity 31,201,571.01 16,619,719.80 ------------- ------------- Total Liabilities & Equity 33,544,432.60 65,962,457.88 ============= =============

Great AQ ATTACHMENT 6 01-10954 (JCA) Steamboat, LLC Summary List of Due To/ Due From Accounts For the Month Ended May 31, 2002

BEGINNING ENDING AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 22,408,601.79 -- 1,606.50 22,406,995.29 AMCV Cruise Operations, Inc. 01-10967 (22,850,855.07) -- 7,586.89 (22,858,441.96) The Delta Queen Steamboat Co. 01-10970 17,085,065.28 21,835,498.73 11,565.82 38,908,998.19 DQSB II, Inc. 01-10974 (919.60) -- -- (919.60) Great Pacific NW Cruise Line, L.L.C. 01-10977 5,552.79 -- -- 5,552.79 Great River Cruise Line, L.L.C. 01-10963 (167,391.63) -- 621.81 (168,013.44) Great Ocean Cruise Line, L.L.C. 01-10959 (14,507.47) -- -- (14,507.47) Cruise America Travel, Incorporated 01-10966 (3,165,198.27) -- -- (3,165,198.27) Delta Queen Coastal Voyages, L.L.C. 01-10964 144,264.37 -- -- 144,264.37 Cape Cod Light, L.L.C. 01-10962 (500,000.00) -- -- (500,000.00) Cape May Light, L.L.C. 01-10961 (1,640,241.44) -- -- (1,640,241.44) Project America, Inc. N/A (15,864.24) -- -- (15,864.24) Oceanic Ship Co. N/A (7,408.30) -- -- (7,408.30) Project America Ship I, Inc. N/A 459,787.19 -- -- 459,787.19 Great Hawaiian Properties Corporation 01-10971 (22,591.38) -- -- (22,591.38) American Hawaii Properties Corporation 01-10976 (1,496.24) -- -- (1,496.24) Great Independence Ship Co. 01-10969 (4,881.60) -- -- (4,881.60) ------------- ------------- --------- ------------- 11,711,916.18 21,835,498.73 21,381.02 33,526,033.89 ============= ============= ========= =============

GREAT AQ STEAMBOAT, L.L.C. CASE #: 01-10960 (JCA) ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

DETAIL: 0-30 DAYS 31-60 DAYS 61-90 DAYS 91+ DAYS TOTAL Paymentech Credit Card Processor 18,398.71 18,398.71 American Express Credit Card Processor 0.00 Discover Credit Card Processor 0.00 Diners Credit Card Processor 0.00 Travel Agents 0.00 Crew Member 0.00 --------- ---------- ---------- --------- --------- Total 0.00 0.00 0.00 18,398.71 18,398.71 ========= ========== ========== ========= =========

ATTACHMENT # 7 AMERICAN QUEEN AP-STEAMER CHECKS 23-000-221300-00000 MAY-02 OUTSTANDING CHECKS: 17707 Tashanda Morreno-Amber Hensley 60.00 17732 Peter Levaneur-Sally Ralicki 100.00 17768 Bryant Johnson-Kenshell Lang 80.00 17779 Mark King-Rosa Trumble 170.00 17820 Joe Willett-NARP 28.00 17827 B. Grisham-AG Edwards 100.00 17828 Mark King 340.00 17837 Daniel Smith-Anastastia Jones 75.00 17848 J. Hill-Neurosurgical Specialties 117.00 17850 E. Newman- R. Ryan 250.00 17851 Louis Ford-SJ Beaulieau 225.00 17852 Jocelyn Beasley-Payoff Voucher 95.47 17853 Ben Vandeven 17.18 17854 Matt Copeland 16.93 17863 Julia Hill-Sears 100.00 --------- Total per G/L: 1,774.58 ========= ATTACHMENT # 8 DEBTOR: GREAT AQ STEAMBOAT, L.L.C. CASE NUMBER: 01-10960 (JCA) PRELIMINARY MONTHLY OPERATING REPORT AS OF MAY 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO MAY MONTHLY OPERATING REPORT The information contained herein is unaudited. 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. The Debtor completed a sale of assets on May 31, 2002. The sale included the Debtor's primary asset, the American Queen, and all inventories. In connection therewith, the Debtor recorded a gain on disposition of $16.2 million. This amount, which is included in reorganization expenses, is an estimate that will be adjusted when the Debtor receives a final allocation of the purchase price from the Purchaser. The asset purchase agreement allows the Purchaser sixty days to provide an allocation between the purchased assets. 2. The Maritime Administration ("Marad") held a secured lien against the American Queen. In order to release the lien and complete the sale, the Debtor agreed to a payoff amount with Marad. The payoff amount, which was withheld from the purchase price and remitted directly to Marad, included additional interest expense that had not previously been recorded by the Debtor. The Debtor recorded the additional interest expense in the current period. EX-99.4 6 g77172exv99w4.txt CAPE MAY LIGHT, L.L.C. MAY 2002 EXHIBIT 99.4 DEBTOR: CAPE MAY LIGHT, L.L.C. CASE NUMBER: 01-10961 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ STEVE MOELLER - ----------------------------- Steve Moeller Director, Accounting DEBTOR: CAPE MAY LIGHT, L.L.C. CASE NUMBER: 01-10961 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report 7-Jun-02 Summary Of Bank,Investment & Attachment 1 12:48 PM Petty Cash Accounts Summary Cape May Light, L.L.C. UNAUDITED Cape May Light, LLC Case No: 01-10961 (JCA) For Month Of May, 2002

Balances ----------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 5/01/02 As Of 5/31/02 Included Included Reconciled - ------- ------------- ------------- ------------- ---------- ---------- American Classic Voyages Co. 0.00 0.00 No - No - No - Bank of America Account Account Account Account # - 0030 6982 7205 Closed Closed Closed Cape May Light Escrow 785,839.00 785,839.00 No - Account Is No - Account Is No US Dept of Transportation Under Control Under Control Maritime Administration Of Maritime Of Maritime Administration Administration - No Statements American Classic Voyages Co. 0.00 0.00 No - No - No - Bank of America Account Account Account Account # - 0041 6103 2379 Closed Closed Closed Cape May Light 0.00 0.00 No - No - Not No - Petty Cash No Activity A Bank No Activity Account

7-Jun-02 Receipts & Disbursements Attachment 2 12:48 PM Cape May Light, L.L.C. Summary Case No: 01-10961 (JCA) Cape May Light, LLC For Month Of May, 2002 Attach 2 No Receipts Or Disbursements Due To No Bank Activity Or Investment Accounts 7-Jun-02 Concentration & Investment Attachment 3 12:48 PM Account Statements Summary Cape May Light, L.L.C. Cape May Light, LLC Case No: 01-10961 (JCA) Attach 3 For Month Of May, 2002 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 27-JUN-02 16:30:23 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: MAY-02 currency USD Company=31 (CAPE MAY LIGHT)

PTD-Actual 31-May-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 266.09 Vessel Expenses 2,168.68 Layup/Drydock Expense 0.00 Vessel Insurance 9,628.09 ---------- Total Operating Expenses 12,062.86 ---------- Gross Profit (12,062.86) SG&A Expenses Sales & Marketing 0.00 Start-Up Costs 0.00 ---------- Total SG&A Expenses 0.00 ---------- EBITDA (12,062.86) Depreciation 0.00 ---------- Operating Income (12,062.86) Other Expense/(Income) Interest Income 0.00 Interest Expense 8,724.01 Equity in Earnings for Sub 0.00 Reorganization expenses 0.00 ---------- Total Other Expense/(Income) 8,724.01 ---------- Net Pretax Income/(Loss) (20,786.87) Income Tax Expense 0.00 ---------- Net Income/(Loss) (20,786.87) ==========

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:27 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: MAY-02 currency USD Company=31 (CAPE MAY LIGHT)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 ------------- ------------- ASSETS Cash and Equivalent 0.00 29,003.54 Restricted Cash 785,839.00 785,839.00 Accounts Receivable 6,235.46 15,651.15 Inventories 720,354.12 750,424.74 Prepaid Expenses 0.00 71,343.83 Other Current Assets 0.00 0.00 ------------- ------------- Total Current Assets 1,512,428.58 1,652,262.26 Fixed Assets 42,083,338.72 42,033,338.72 Accumulated Depreciation (550,825.00) (550,825.00) ------------- ------------- Net Fixed Assets 41,532,513.72 41,482,513.72 Net Goodwill 0.00 0.00 Intercompany Due To/From (12,524,587.00) (12,278,102.19) Net Deferred Financing Fees 2,495,066.95 2,559,333.82 Net Investment in Subsidiaries 0.00 0.00 ------------- ------------- Total Other Assets (10,029,520.05) (9,718,768.37) ------------- ------------- Total Assets 33,015,422.25 33,416,007.61 ============= =============

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:27 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: MAY-02 currency USD Company=31 (CAPE MAY LIGHT)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 ------------- ------------- LIABILITIES Accounts Payable 324.10 18,286.96 Accrued Liabilities 449,623.28 454,710.16 Deposits 0.00 0.00 ------------- ------------- Total Current Liabilities 449,947.38 472,997.12 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 ------------- ------------- Total Liabilities 449,947.38 472,997.12 OTHER Liabilities Subject to Compromise 39,927,754.81 39,937,580.57 ------------- ------------- Total Other 39,927,754.81 39,937,580.57 OWNER'S EQUITY Common Stock 0.00 0.00 Add'l Paid In Capital 0.00 0.00 Current Net Income (Loss) (272,198.96) (2,857,115.19) Retained Earnings (7,090,080.98) (4,137,454.89) ------------- ------------- Total Owner's Equity (7,362,279.94) (6,994,570.08) ------------- ------------- Total Liabilities & Equity 33,015,422.25 33,416,007.61 ============= =============

Cape May Light, LLC ATTACHMENT 6 01-10961 (JCA) Summary List of Due To/ Due From Accounts For the Month Ended May 31, 2002

BEGINNING ENDING AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 657,443.89 -- 72.92 657,370.97 AMCV Cruise Operations, Inc. 01-10967 (8,119,626.84) -- 4,307.93 (8,123,934.77) The Delta Queen Steamboat Co. 01-10970 8,431,118.53 -- -- 8,431,118.53 DQSB II, Inc. 01-10974 (82.74) -- -- (82.74) Great AQ Steamboat, L.L.C. 01-10960 1,640,241.44 -- -- 1,640,241.44 Great Pacific NW Cruise Line, L.L.C. 01-10977 (5,380.67) -- -- (5,380.67) Great River Cruise Line, L.L.C. 01-10963 (33,543.95) -- -- (33,543.95) Great Ocean Cruise Line, L.L.C. 01-10959 (1,844.01) -- -- (1,844.01) Cruise America Travel, Incorporated 01-10966 (1,054,561.24) -- -- (1,054,561.24) Delta Queen Coastal Voyages, L.L.C. 01-10964 219,923.30 -- 7,682.01 212,241.29 Cape Cod Light, L.L.C. 01-10962 (8,675.31) -- -- (8,675.31) Project America, Inc. N/A (57,268.50) -- -- (57,268.50) Oceanic Ship Co. N/A 13,839.73 -- -- 13,839.73 Project America Ship II, Inc. N/A 412,316.64 -- -- 412,316.64 Ocean Development Co. 01-10972 (14,604,239.22) -- -- (14,604,239.22) Great Hawaiian Cruise Line, Inc. 01-10975 (8,411.75) -- -- (8,411.75) Great Hawaiian Properties Corporation 01-10971 4,188.00 -- -- 4,188.00 CAT II, Inc. 01-10968 2,038.56 -- -- 2,038.56 -------------- ----- --------- -------------- (12,512,524.14) -- 12,062.86 (12,524,587.00) ============== ===== ========= ==============

CAPE MAY LIGHT, L.L.C. CASE #: 01-10961 (JCA) ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

DETAIL: 0-30 DAYS 31-60 DAYS 61-90 DAYS 91+ DAYS TOTAL Paymentech Credit Card Processor 6,235.46 6,235.46 American Express Credit Card Processor 0.00 Discover Credit Card Processor 0.00 Diners Credit Card Processor 0.00 Travel Agents 0.00 --------- ---------- ---------- -------- -------- Total 0.00 0.00 0.00 6,235.46 6,235.46 ========= ========== ========== ======== ========

ATTACHMENT # 7 CAPE MAY LIGHT AP-STEAMER CHECKS 31-000-221300-00000 MAY-02 OUTSTANDING CHECKS: 1091 Multi-Marques 50.00 1162 K. McKnight-McRae's 100.00 1166 K. McKnight-Gordon's 100.00 1192 Donald Vivier-Capitol One 40.00 1195 Donald Vivier-Retailer Nat. Bank 20.00 1200 Joycelyn Owens-grats paid out 14.10 ------- Total per G/L: 324.10 ======= ATTACHMENT # 8 DEBTOR: CAPE MAY LIGHT, L.L.C. CASE NUMBER: 01-10961 (JCA) PRELIMINARY MONTHLY OPERATING REPORT AS OF MAY 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO MAY 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. An evaluation of fuel inventory pricing has been performed and carrying values have been adjusted accordingly. 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. The Debtor ceased operating its primary asset, the Cape May Light, on October 22, 2001. In connection therewith, the Debtor ceased accruing for its next scheduled lay-up, ceased recording depreciation, and has not adjusted related lay-up accrual or asset values pending the outcome of Chapter 11 proceedings. 4. Restricted cash represents escrowed proceeds from debt issued to finance the construction of the Cape May 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. EX-99.5 7 g77172exv99w5.txt CAPE COD LIGHT, L.L.C. MAY 2002 EXHIBIT 99.5 DEBTOR: CAPE COD LIGHT, L.L.C. CASE NUMBER: 01-10962 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ STEVE MOELLER ----------------------- Steve Moeller Director, Accounting DEBTOR: CAPE COD LIGHT, L.L.C. CASE NUMBER: 01-10962 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report 7-Jun-02 Summary Of Bank And Investment Accounts Attachment 1 5:13 PM Cape Cod Light, L.L.C. Summary Case No: 01-10962 (JCA) UNAUDITED Cape Cod Light, LLC For Month Of May, 2002

Balances Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 5/01/02 As Of 5/31/02 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 Administration Administration - No Statements Cape Cod Light Security 400,541.48 0.03 Yes Yes Yes Hibernia Investments, LLC Account # - 4R6-771783

7-Jun-02 Receipts & Disbursements Attachment 2-1 5:14 PM Cape Cod Light, LLC R&D - Hibernia Investments - CCL Security Case No: 01-10962 (JCA) UNAUDITED Hibernia Investments, LLC Cape Cod Light Security Account Account # - 4R6-771783 1 May 02 - 31 May 02 Opening Balance - 1 May 02 400,541.48 Receipts 221.16 Interest Income ----------- 221.16 Total Receipts Disbursements (400,762.61) To The Delta Queen Steamboat Company - Hibernia - Master Cash Account (812-395-335) ----------- (400,762.61) Total Disbursements Closing Balance - 31 May 02 0.03 AMCV US SET OF BOOKS Date: 27-JUN-02 16:30:25 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: MAY-02 currency USD Company=32 (CAPE COD LIGHT)

PTD-Actual 31-May-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 6,446.55 ---------------- Total Operating Expenses 6,446.55 ---------------- Gross Profit (6,446.55) SG&A Expenses Sales & Marketing 0.00 Start-Up Costs 0.00 ---------------- Total SG&A Expenses 0.00 ---------------- EBITDA (6,446.55) Depreciation 0.00 ---------------- Operating Income (6,446.55) 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) (15,063.49) Income Tax Expense 0.00 ---------------- Net Income/(Loss) (15,063.49) ================

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:26 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: MAY-02 currency USD Company=32 (CAPE COD LIGHT)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 ------------- ------------- ASSETS Cash and Equivalent 0.00 0.00 Restricted Cash 8,158,728.00 8,158,728.00 Accounts Receivable 0.00 42.00 Inventories 217,563.69 217,563.69 Prepaid Expenses 0.00 74,900.00 Other Current Assets 0.00 0.00 ------------- ------------- Total Current Assets 8,376,291.69 8,451,233.69 Fixed Assets 35,973,258.77 35,993,283.77 Accumulated Depreciation 0.00 0.00 ------------- ------------- Net Fixed Assets 35,973,258.77 35,993,283.77 Net Goodwill 0.00 0.00 Intercompany Due To/From (13,350,835.35) (13,322,516.26) Net Deferred Financing Fees 2,567,849.44 2,630,465.87 Net Investment in Subsidiaries 0.00 0.00 ------------- ------------- Total Other Assets (10,782,985.91) (10,692,050.39) ------------- ------------- Total Assets 33,566,564.55 33,752,467.07 ============= =============

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:26 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: MAY-02 currency USD Company=32 (CAPE COD LIGHT)

YTD-Actual YTD-Actual 31-May-02 22-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'l Paid In Capital 0.00 0.00 Current Net Income (Loss) (158,589.07) (4,661,527.14) Retained Earnings (6,391,522.38) (1,702,681.79) ------------- ------------- Total Owner's Equity (6,550,111.45) (6,364,208.93) ------------- ------------- Total Liabilities & Equity 33,566,564.55 33,752,467.07 ============= =============

ATTACHMENT 6 01-10962 (JCA) Cape Cod Light, LLC Summary List of Due To/Due From Accounts For the Month Ended May 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 (3,950,183.20) -- -- (3,950,183.20) The Delta Queen Steamboat Co. 01-10970 1,404,059.37 -- -- 1,404,059.37 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 (399,864.37) 400,541.48 6,446.55 (5,769.44) 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 (13,058,475.55) -- -- (13,058,475.55) American Hawaii Properties Corporation 01-10976 (31,777.30) -- -- (31,777.30) Great Independence Ship Co. 01-10969 32,099.49 -- -- 32,099.49 ---------------------------------------------------------------------- (13,744,930.28) 400,541.48 6,446.55 (13,350,835.35) ======================================================================

Cape Cod Light, L.L.C. 01-10962 (JCA) Accounts Receivable Aging As of May 31, 2002 Attachment 7 Not Applicable Cape Cod Light, L.L.C. 01-10962 (JCA) Accounts Payable Detail As of May 31, 2002 Attachment 8 Not Applicable DEBTOR: CAPE COD LIGHT, L.L.C. CASE NUMBER: 01-10962 (JCA) PRELIMINARY MONTHLY OPERATING REPORT AS OF MAY 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO MAY 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. 5. Accrued liabilities contains an accrual for vessel lay-up. The Debtor has ceased recording further accruals pending the outcome of Chapter 11 proceedings. EX-99.6 8 g77172exv99w6.txt GREAT RIVER CRUISE LINE, L.L.C. MAY 2002 EXHIBIT 99.6 DEBTOR: GREAT RIVER CRUISE LINE, L.L.C. CASE NUMBER: 01-10963 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ STEVE MOELLER - ------------------------------ Steve Moeller Director, Accounting DEBTOR: GREAT RIVER CRUISE LINE, L.L.C. CASE NUMBER: 01-10963 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report

7-Jun-02 Summary Of Bank, Investment & Petty Cash Accounts Attachment 1 1:59 PM Great River Cruise Line, L.L.C. Summary Case No: 01-10963 (JCA) UNAUDITED Great River Cruise Line, LLC For Month Of May, 2002

Balances ------------------------------ Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 5/01/02 As Of 5/31/02 Included Included Reconciled - ------- ------------- ------------- -------- -------- ---------- Delta Queen Steamer 41,695.13 92,531.04 Yes No - Not Yes Hibernia Concentration Account # - 812-395-270 Account Delta Queen 0.00 0.00 No - Not A Bank Yes Petty Cash No Activity Account

28-Jun-02 Receipts & Disbursements Attachment 2-1 4:24 PM Great River Cruise Line, L.L.C. R&D - Hibernia - DQ Steamer Case No: 01-10963 JCA) UNAUDITED Hibernia Delta Queen Steamer Account # - 812-395-270 1 May 02 - 31 May 02 Opening Balance - 1 May 02 - -------------------------- 41,695.13 Receipts - -------- 410,000.00 From The Delta Queen Steam Boat Co. - Hibernia - DQSC Master Cash - Account (812-395-335) ---------- 410,000.00 Total Receipts Disbursements - ------------- (1,512.00) Crew Maintenance (P&I) (81,692.35) Lay-Up - Hotel Ops (68,048.38) Lay-Up - Marine Ops (3,707.17) Office - NOLA - Cartons (3,042.00) SG&A - IT (157.27) SG&A - Passenger Services (9,881.58) SG&A - Sales & Marketing (42,450.29) Start-Up - Hotel Ops (12,494.28) Start-Up - Marine Ops (2,861.20) Other Vessel Expense ----------- (225,846.52) Total Disbursements (* See Footnote) Closing Balance - 31 May 02 - --------------------------- 92,531.04 *$133,317.57 Of Disbursements Not Reflected In Disbursements Above Due To Being Reimbursed By Buyer Of Assets At Closing. 7-Jun-02 Concentration & Investment Account Statements Attachment 3 3:15 PM Great River Cruise Line, L.L.C. Summary Case No: 01-10963 (JCA) Great River Cruise Line, LLC For Month Of May, 2002 Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 27-JUN-02 16:30:27 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: MAY-02 currency USD Company=22 (DELTA QUEEN)

PTD-Actual 31-May-02 ------------------ Revenue Gross Revenue 0.00 Allowances 18,034.17 ------------------ Net Revenue 18,034.17 Operating Expenses Air 0.00 Hotel 0.00 Commissions 0.00 Onboard Expenses 505.19 Passenger Expenses 885.34 Vessel Expenses 6,808.50 Layup/Drydock Expense 0.00 Vessel Insurance 2,137.11 ------------------ Total Operating Expenses 10,336.14 ------------------ Gross Profit 7,698.03 SG&A Expenses Sales & Marketing 0.00 Start-Up Costs 0.00 ------------------ Total SG&A Expenses 0.00 ------------------ EBITDA 7,698.03 Depreciation 0.00 ------------------ Operating Income 7,698.03 Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub 0.00 Reorganization expenses 6,463,154.63 ------------------ Total Other Expense/(Income) 6,463,154.63 ------------------ Net Pretax Income/(Loss) (6,455,456.60) Income Tax Expense 0.00 ------------------ Net Income/(Loss) (6,455,456.60) ==================

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:29 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: MAY-02 currency USD Company=22 (DELTA QUEEN)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 ---------------- ------------------ ASSETS Cash and Equivalent 68,334.95 64,522.98 Restricted Cash 0.00 0.00 Accounts Receivable 68,637.17 33,451.42 Inventories 0.00 270,331.59 Prepaid Expenses 0.00 37,922.40 Other Current Assets 0.00 14,555.00 ---------------- ------------------ Total Current Assets 136,972.12 420,783.39 Fixed Assets 0.00 27,296,694.44 Accumulated Depreciation 0.00 (15,065,339.51) ---------------- ------------------ Net Fixed Assets 0.00 12,231,354.93 Net Goodwill 0.00 0.00 Intercompany Due To/From (6,457,514.92) (9,202,583.95) Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries 0.00 0.00 ---------------- ------------------ Total Other Assets (6,457,514.92) (9,202,583.95) ---------------- ------------------ Total Assets (6,320,542.80) 3,449,554.37 ================ ==================

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:29 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: MAY-02 currency USD Company=22 (DELTA QUEEN)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 ---------------- ------------------ LIABILITIES Accounts Payable 689.27 5,758.93 Accrued Liabilities 0.00 715,443.75 Deposits 0.00 2,045,629.83 ---------------- ------------------ Total Current Liabilities 689.27 2,766,832.51 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 ----------------- ------------------ Total Liabilities 689.27 2,766,832.51 OTHER Liabilities Subject to Compromise 540,730.95 490,370.44 ---------------- ------------------ Total Other 540,730.95 490,370.44 OWNER'S EQUITY Common Stock 0.00 0.00 Add'l Paid In Capital 3,701,000.00 3,701,000.00 Current Net Income (Loss) (7,476,984.57) (2,206,220.03) Retained Earnings (3,085,978.45) (1,302,428.55) ---------------- ------------------ Total Owner's Equity (6,861,963.02) 192,351.42 ---------------- ------------------ Total Liabilities & Equity (6,320,542.80) 3,449,554.37 ================ ==================

ATTACHMENT 6 01-10963 (JCA) Great River Cruise LIne, LLC Summary List of Due To/Due From Accounts For the Month Ended May 31, 2002

BEGINNING ENDING AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (6,701,911.57) 75.00 972.51 (6,702,809.08) AMCV Cruise Operations, Inc. 01-10967 (9,437,391.08) 1,721.18 8,109.72 (9,443,779.62) The Delta Queen Steamboat Co. 01-10970 6,758,836.66 4,741,570.12 1,078,422.25 10,421,984.53 DQSB II, Inc. 01-10974 (367.05) -- -- (367.05) Great AQ Steamboat, L.L.C 01-10960 167,391.63 621.81 -- 168,013.44 Great Pacific NW Cruise Line, L.L.C 01-10977 2,052.08 3,096.00 336.00 4,812.08 Great Ocean Cruise Line, L.L.C 01-10959 242,859.89 292,068.13 30,977.27 503,950.75 Cruise America Travel, Incorporated 01-10966 (1,419,142.24) -- -- (1,419,142.24) Delta Queen Coastal Voyages, L.L.C 01-10964 18,978.71 -- -- 18,978.71 Cape Cod Light, L.L.C 01-10962 (270.05) -- -- (270.05) Cape May Light, L.L.C 01-10961 33,543.95 -- -- 33,543.95 Project America, Inc. N/A (11,144.65) -- -- (11,144.65) Oceanic Ship Co. N/A (257.75) -- -- (257.75) Great Hawaiian Cruise Line, Inc. 01-10975 (60.73) -- -- (60.73) Great Hawaiian Properties Corporation 01-10971 (41,555.00) -- -- (41,555.00) American Hawaii Properties Corporation 01-10976 9,562.38 -- -- 9,562.38 CAT II, Inc. 01-10968 1,025.41 -- -- 1,025.41 ------------------------------------------------------------------------- (10,377,849.41) 5,039,152.24 1,118,817.75 (6,457,514.92) =========================================================================

GREAT RIVER CRUISE LINE, L.L.C. CASE #: 01-10963 (JCA) ACCOUNTS RECEIVABLE RECONCILIATION AND AGING DETAIL: 0-30 DAYS 31-60 DAYS 61-90 DAYS 91+ DAYS TOTAL Paymentech Credit Card Processor 68,637.17 68,637.17 American Express Credit Card Processor 0.00 Discover Credit Card Processor 0.00 Diners Credit Card Processor 0.00 Travel Agents 0.00 Crew Member 0.00 ------------- -------------- ------------- ------------- ------------- Total 0.00 0.00 0.00 68,637.17 68,637.17 ============= ============== ============= ============= ============= ATTACHMENT # 7 DELTA QUEEN AP-STEAMER CHECKS 22-000-221300-00000 MAY-02 OUTSTANDING CHECKS: 12333 M. Richardson-Walmart 40.00 12335 J. Blasier-Capitol One 20.00 12385 J. Blasier-K. Hansen 150.00 12399 Peoria Historical Society 120.00 12404 Anthony May-Verizon 200.00 12408 Peoria Historical Society 160.00 ------- Total per G/L: 690.00 ======= ATTACHMENT # 8 DEBTOR: GREAT RIVER CRUISE LINE, L.L.C. CASE NUMBER: 01-10963 (JCA) PRELIMINARY MONTHLY OPERATING REPORT AS OF MAY 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO MAY MONTHLY OPERATING REPORT The information contained herein is unaudited. 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. The Debtor completed a sale of assets on May 31, 2002 (the "Close date"). The sale included the Debtor's primary asset, the Delta Queen, and all inventories. In connection therewith, the Debtor recorded a loss on disposition of $6.5 million. This amount, which is included in reorganization expenses, is an estimate that will be adjusted when the Debtor receives a final allocation of the purchase price from the Purchaser. The asset purchase agreement allows the Purchaser sixty days to provide an allocation between the purchased assets. 2. As part of the asset sale, the Purchaser reimbursed the Debtor for credit card commission previously incurred which benefited future voyages. The Debtor recorded a credit to commission expense to reflect this reimbursement. EX-99.7 9 g77172exv99w7.txt DELTA QUEEN COASTAL VOYAGES, L.L.C. MAY 2002 EXHIBIT 99.7 DEBTOR: DELTA QUEEN COASTAL VOYAGES, L.L.C. CASE NUMBER: 01-10964 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ STEVE MOELLER - --------------------------- Steve Moeller Director, Accounting DEBTOR: DELTA QUEEN COASTAL VOYAGES, L.L.C. CASE NUMBER: 01-10964 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report 24-Jun-02 Summary Of Bank And Investment Accounts Attachment 1 4:29 PM Delta Queen Coastal Voyages, L.L.C. Summary Case No: 01-10964 (JCA) UNAUDITED Delta Queen For Month Of May, 2002 Coastal Voyages, LLC

Balances ------------------------------ Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 5/01/02 As Of 5/31/02 Included Included Reconciled - ------- ------------- ------------- ------------- ---------- ---------- No Bank Or Investment NA NA NA NA NA Accounts

7-Jun-02 Receipts & Disbursements Attachment 2 4:29 PM Delta Queen Coastal Voyages, L.L.C. Summary Case No: 01-10964 (JCA) Delta Queen For Month Of May, 2002 Coastal Voyages, LLC Attach 2 No Receipts Or Disbursements Due To No Bank Or Investment Accounts 7-Jun-02 Concentration & Investment Account Statements Attachment 3 4:29 PM Delta Queen Coastal Voyages, L.L.C. Summary Case No: 01-10964 (JCA) Delta Queen For Month Of May, 2002 Costal Voyages, LLC Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 27-JUN-02 16:30:27 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: MAY-02 currency USD Company=30 (DELTA QUEEN COAST VOY)

PTD-Actual 31-May-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 (35,491.86) Reorganization expenses 0.00 --------- Total Other Expense/(Income) 35,491.86 --------- Net Pretax Income/(Loss) (35,491.86) Income Tax Expense 0.00 --------- Net Income/(Loss) (35,491.86) =========

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:31 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: MAY-02 currency USD Company=30 (DELTA QUEEN COAST VOY)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 -------------- -------------- ASSETS Cash and Equivalent 0.00 0.00 Restricted Cash 0.00 0.00 Accounts Receivable 0.00 0.00 Inventories 0.00 0.00 Prepaid Expenses 0.00 0.00 Other Current Assets 0.00 0.00 -------------- -------------- Total Current Assets 0.00 0.00 Fixed Assets 0.00 0.00 Accumulated Depreciation 0.00 0.00 -------------- -------------- Net Fixed Assets 0.00 0.00 Net Goodwill 0.00 0.00 Intercompany Due To/From (412,107.06) (411,482.06) Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries (13,773,267.48) (12,652,491.22) -------------- -------------- Total Other Assets (14,185,374.54) (13,063,973.28) -------------- -------------- Total Assets (14,185,374.54) (13,063,973.28) ============== ==============

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:31 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: MAY-02 currency USD Company=30 (DELTA QUEEN COAST VOY)

YTD-Actual YTD-Actual 31-May-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 (2,896,625.10) (2,896,625.10) -------------- -------------- Total Liabilities (2,896,625.10) (2,896,625.10) OTHER Liabilities Subject to Compromise 0.00 0.00 -------------- -------------- Total Other 0.00 0.00 OWNER'S EQUITY Common Stock 0.00 0.00 Add'l Paid In Capital 0.00 0.00 Current Net Income (Loss) (427,105.15) (6,703,754.04) Retained Earnings (10,861,644.29) (3,463,594.14) -------------- -------------- Total Owner's Equity (11,288,749.44) (10,167,348.18) -------------- -------------- Total Liabilities & Equity (14,185,374.54) (13,063,973.28) ============== ==============

Delta Queen Coastal ATTACHMENT 6 01-10964 (JCA) Voyages, LLC Summary List of Due To/ Due From Accounts For the Month Ended May 31, 2002

BEGINNING ENDING AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (934,299.38) -- -- (934,299.38) AMCV Cruise Operations, Inc. 01-10967 190,721.38 -- -- 190,721.38 The Delta Queen Steamboat Co. 01-10970 519,611.16 400,541.48 14,128.56 906,024.08 Great AQ Steamboat, L.L.C. 01-10960 (144,264.37) -- -- (144,264.37) Great Pacific NW Cruise Line, L.L.C. 01-10977 (118,887.26) -- -- (118,887.26) Great River Cruise Line, L.L.C. 01-10963 (18,978.71) -- -- (18,978.71) Great Ocean Cruise Line, L.L.C. 01-10959 (85,950.95) -- -- (85,950.95) Cape Cod Light, L.L.C. 01-10962 399,864.37 6,446.55 400,541.48 5,769.44 Cape May Light, L.L.C. 01-10961 (219,923.30) 7,682.01 -- (212,241.29) ----------- ---------- ---------- ----------- (412,107.06) 414,670.04 414,670.04 (412,107.06) =========== ========== ========== ===========

Delta Queen Coastal Voyages, L.L.C. 01-10964 (JCA) Accounts Receivable Aging As of May 31, 2002 Attachment 7 Not Applicable Delta Queen Coastal Voyages, L.L.C. 01-10964 (JCA) Accounts Payable Detail As of May 31, 2002 Attachment 8 Not Applicable DEBTOR: DELTA QUEEN COASTAL VOYAGES, L.L.C. CASE NUMBER: 01-10964 (JCA) PRELIMINARY MONTHLY OPERATING REPORT AS OF MAY 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO MAY 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. 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. EX-99.8 10 g77172exv99w8.txt DQSC PROPERTY CO. MAY 2002 EXHIBIT 99.8 DEBTOR: DQSC PROPERTY CO. CASE NUMBER: 01-10965 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 DQSC Property Co. was inactive for the above referenced period and, to the best of my knowledge, the foregoing is true and correct. /s/ STEVE MOELLER - ---------------------------- Steve Moeller Director, Accounting EX-99.9 11 g77172exv99w9.txt CRUISE AMERICA TRAVEL, INCORPORATED MAY 2002 EXHIBIT 99.9 DEBTOR: CRUISE AMERICA TRAVEL, INCORPORATED CASE NUMBER: 01-10966 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ STEVE MOELLER - ------------------------ Steve Moeller Director, Accounting DEBTOR: CRUISE AMERICA TRAVEL, INCORPORATED CASE NUMBER: 01-10966 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report 24-Jun-02 Summary Of Bank And Investment Accounts Attachment 1 4:36 PM Cruise America Travel, Incorporated Summary Case No: 01-10966 (JCA) UNAUDITED Cruise America For Month Of May, 2002 Travel, Inc.

Balances ------------------------------ Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 5/01/02 As Of 5/31/02 Included Included Reconciled - ------- ------------- ------------- ------------- ---------- ---------- No Bank Or Investment NA NA NA NA NA Accounts

24-Jun-02 Receipts & Disbursements Attachment 2 4:36 PM Cruise America Travel, Incorporated Summary Case No: 01-10966 (JCA) Cruise America For Month Of May, 2002 Travel, Inc. Attach 2 No Receipts Or Disbursements Due To No Bank Or Investment Accounts 24-Jun-02 Concentration & Investment Account Statements Attachment 3 4:36 PM Cruise America Travel, Incorporated Summary Case No: 01-10966 (JCA) Cruise America For Month Of May, 2002 Travel, Inc. Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 27-JUN-02 16:30:29 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: MAY-02 currency USD Company=29 (CAT - DQSC)

PTD-Actual 31-May-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 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: 27-JUN-02 16:29:35 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: MAY-02 currency USD Company=29 (CAT - DQSC)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 ------------ ------------ ASSETS Cash and Equivalent 0.00 0.00 Restricted Cash 0.00 0.00 Accounts Receivable 0.00 19,582.06 Inventories 0.00 0.00 Prepaid Expenses 256,291.69 565,863.67 Other Current Assets 0.00 0.00 ------------ ------------ Total Current Assets 256,291.69 585,445.73 Fixed Assets 0.00 0.00 Accumulated Depreciation 0.00 0.00 ------------ ------------ Net Fixed Assets 0.00 0.00 Net Goodwill 0.00 0.00 Intercompany Due To/From 4,916,410.65 4,474,118.72 Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries 0.00 0.00 ------------ ------------ Total Other Assets 4,916,410.65 4,474,118.72 ------------ ------------ Total Assets 5,172,702.34 5,059,564.45 ============ ============

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:35 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: MAY-02 currency USD Company=29 (CAT - DQSC)

YTD-Actual YTD-Actual 31-May-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 1,591,053.16 1,591,053.16 ------------ ------------ Total Liabilities 1,591,053.16 1,591,053.16 OTHER Liabilities Subject to Compromise 0.00 5,731.15 ------------ ------------ Total Other 0.00 5,731.15 OWNER'S EQUITY Common Stock 0.00 0.00 Add'l Paid In Capital 50,000.00 50,000.00 Current Net Income (Loss) (9,391.32) 591,526.60 Retained Earnings 3,541,040.50 2,821,253.54 ------------ ------------ Total Owner's Equity 3,581,649.18 3,462,780.14 ------------ ------------ Total Liabilities & Equity 5,172,702.34 5,059,564.45 ============ ============

Cruise America ATTACHMENT 6 01-10966 (JCA) Travel, Incorporated Summary List of Due To/ Due From Accounts For the Month Ended May 31, 2002

BEGINNING ENDING AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (103,377.71) -- -- (103,377.71) AMCV Cruise Operations, Inc. 01-10967 (4,057,639.67) 953.02 478.50 (4,057,165.15) The Delta Queen Steamboat Co. 01-10970 (309,751.39) 132,850.00 79,602.43 (256,503.82) Great AQ Steamboat, L.L.C. 01-10960 3,165,198.27 -- -- 3,165,198.27 Great Pacific NW Cruise Line, L.L.C. 01-10977 674,733.24 -- -- 674,733.24 Great River Cruise Line, L.L.C. 01-10963 1,419,142.24 -- -- 1,419,142.24 Great Ocean Cruise Line, L.L.C. 01-10959 2,953,907.27 59,145.50 59,145.50 2,953,907.27 Cape Cod Light, L.L.C. 01-10962 2,706.08 -- -- 2,706.08 Cape May Light, L.L.C. 01-10961 1,054,561.24 -- -- 1,054,561.24 Oceanic Ship Co. N/A 6,631.08 -- -- 6,631.08 Ocean Development Co. 01-10972 15,996.19 -- -- 15,996.19 American Hawaii Properties Corporation 01-10976 1,126.92 -- -- 1,126.92 Great Independence Ship Co. 01-10969 16,321.27 -- -- 16,321.27 CAT II, Inc. 01-10968 23,133.53 -- -- 23,133.53 ------------- ---------- ---------- ------------- 4,862,688.56 192,948.52 139,226.43 4,916,410.65 ============= ========== ========== =============

Cruise America Travel, Incorporated 01-10966 (JCA) Accounts Receivable Aging As of May 31, 2002 Attachment 7 Not Applicable Cruise America Travel, Incorporated 01-10966 (JCA) Accounts Payable Detail As of May 31, 2002 Attachment 8 Not Applicable DEBTOR: CRUISE AMERICA TRAVEL, INCORPORATED CASE NUMBER: 01-10966 (JCA) PRELIMINARY MONTHLY OPERATING REPORT AS OF MAY 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO MAY 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. 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. 2. Prepaid expenses represent pre-petition pre-paid airline tickets. Amounts representing liabilities to airlines for airline tickets and contained in "liabilities subject to compromise" may be setoff by pre-paid airline tickets. EX-99.10 12 g77172exv99w10.txt AMCV CRUISE OPERATIONS, INC. MAY 2002 EXHIBIT 99.10 DEBTOR: AMCV CRUISE OPERATIONS, INC. CASE NUMBER: 01-10967 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ STEVE MOELLER - ----------------------- Steve Moeller Director, Accounting DEBTOR: AMCV CRUISE OPERATIONS, INC. CASE NUMBER: 01-10967 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report 28-Jun-02 Summary Of Bank,Investment & Attachment 1 3:37 PM Petty Cash Accounts Summary AMCV Cruise Operations, Inc. UNAUDITED AMCV Cruise Case No: 01-10967 (JCA) Operations, Inc For Month Of May, 2002

Balances ------------------------------ Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 5/01/02 As Of 5/31/02 Included Included Reconciled - ------- ------------- ------------- ------------- ---------- ---------- AHC - Certificate Of Deposit * 25,000.00 25,000.00 Yes No - Not Yes Bank One Concentration Account # - 880058451981 Account AHC - Certificate Of Deposit * 25,000.00 25,000.00 Yes No - Not Yes Bank One Concentration Account # - 880058452369 Account AMCV Cruise Ops 50,533.47 5,116.69 Yes Yes Yes Master Cash First Union National Bank Account # - 2090002602362 AMCV Escrow - Gohagan 247,130.24 0.00 Yes No - Not Yes LaSalle Bank Concentration Account # - 62-8766-40-4 Account American Classic Voyages 0.00 0.00 No - No - No - Fleet Bank Account Account Account Account # - 941-9148945 closed closed closed New Orleans Office 7,079.27 825.45 Yes Not A Bank Yes Petty Cash Account

* Proceeds From Matured Certificates Of Deposit Being Retained By Bank One While They Pursue Recovery Of Equivalent Amounts Relating To Letters Of Credits That Were Exercised After The Filing For Bankruptcy Where These Certificates Of Deposits Were Collateral 24-Jun-02 Receipts & Disbursements Attachment 2-1 4:54 PM AMCV Cruise Operations, Inc. R&D - Bank One - Case No: 01-10967 (JCA) UNAUDITED AHC CD (86) Bank One AHC Certificate Of Deposit Account # - 880058451981 1 May 02 - 31 May 02 Opening Balance - 1 May 02 25,000.00 Receipts --------- 0.00 Total Receipts Disbursements --------- 0.00 Total Disbursements Closing Balance - 31 May 02 25,000.00 24-Jun-02 Receipts & Disbursements Attachment 2-2 4:54 PM AMCV Cruise Operations, Inc. R&D - Bank One - Case No: 01-10967 (JCA) UNAUDITED AHC CD (87) Bank One AHC Certificate Of Deposit Account # - 880058452369 1 May 02 - 31 May 02 Opening Balance - 1 May 02 25,000.00 Receipts --------- 0.00 Total Receipts Disbursements --------- 0.00 Total Disbursements Closing Balance - 31 May 02 25,000.00 24-Jun-02 Receipts & Disbursements Attachment 2-3 5:09 PM AMCV Cruise Operations, Inc. R&D - First Union Case No: 01-10967 (JCA) UNAUDITED AMCV Cruise Ops First Union Master Cash AMCV Cruise Ops Master Cash Account # - 2090002602362 1 May 02 - 31 May 02 Opening Balance - 1 May 02 50,533.47 Receipts 3,243.68 Misc Deposits 247,395.77 From AMCV Cruise Ops - LaSalle Bank - Gohagan Escrow - Account (62-8766-40-4) ----------- 250,639.45 Total Receipts Disbursements (296,000.00) To The Delta Queen Steamboat Co. - Hibernia - DQSC Master Cash - Account (812-395-335) Returned Deposits (56.23) Bank Fees ----------- (296,056.23) Total Disbursements Closing Balance - 31 May 02 5,116.69 1-Jul-02 Receipts & Disbursements Attachment 2-4 12:22 PM AMCV Cruise Operations, Inc. R&D - LaSalle Case No: 01-10967 (JCA) UNAUDITED AMCV Escrow - Gohagan LaSalle AMCV Escrow - Gohagan Account # - 62-8766-40-4 1 May 02 - 31 May 02 Opening Balance - May 02 247,130.24 Receipts 265.53 Interest Earned ----------- 265.53 Total Receipts Disbursements (247,395.77) To AMCV Cruise Ops - First Union National Bank - AMCV Cruise Ops - Account (2090002602362) ----------- (247,395.77) Total Disbursements Closing Balance - 31 May 02 0.00 28-Jun-02 Receipts & Disbursements Attachment 2-5 4:30 PM AMCV Cruise Operations, Inc. R&D - NOLA Case No: 01-10967 (JCA) UNAUDITED Petty Cash New Orleans-Weston Offices Petty Cash Account # - NA 1 May 02 - 31 May 02 Opening Balance - 1 May 02 7,079.27 Receipts -------- 0.00 Total Receipts Disbursements (60.00) Cleaning - Weston (27.81) Misc Supplies - Weston (591.00) MQ Lay-Up - Per Diem -------- (678.81) Total Disbursements Closing Balance - 31 May 02 825.45 * $5,575.01 Of Disbursements Not Reflected In Disbursements Above Due To Being Reimbursed By Buyer Of Assets At Closing. AMCV US SET OF BOOKS Date: 27-JUN-02 16:30:31 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: MAY-02 currency USD Company=15 (AMCV OPS)

PTD-Actual 31-May-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 192,636.82 Sales & Marketing 51,604.80 Start-Up Costs (13,690.01) ------------ Total SG&A Expenses 230,551.61 ------------ EBITDA (230,551.61) Depreciation 40,575.70 ------------ Operating Income (271,127.31) Other Expense/(Income) Interest Income 0.00 Interest Expense 1,480.42 Equity in Earnings for Sub 559,254.47 Reorganization expenses 8,123,319.14 Other expense (44,597.80) ------------ Total Other Expense/(Income) 7,520,947.29 ------------ Net Pretax Income/(Loss) (7,792,074.60) Income Tax Expense 0.00 ------------ Net Income/(Loss) (7,792,074.60) ============

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:37 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: MAY-02 currency USD Company=15 (AMCV OPS)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 -------------- -------------- ASSETS Cash and Equivalent (386,495.50) 1,723,947.86 Restricted Cash 0.00 219,000.00 Marketable Securities 50,000.00 50,000.00 Accounts Receivable 0.00 99,684.62 Inventories 0.00 0.00 Prepaid Expenses 266,396.15 522,662.13 Other Current Assets 20,942.96 1,750.00 -------------- -------------- Total Current Assets (49,156.39) 2,617,044.61 Fixed Assets 0.00 9,371,627.23 Accumulated Depreciation 0.00 (453,764.30) -------------- -------------- Net Fixed Assets 0.00 8,917,862.93 Net Goodwill 0.00 0.00 Intercompany Due To/From (3,285,979.55) 2,150,807.43 Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries 61,432,034.49 66,329,274.35 -------------- -------------- Total Other Assets 58,146,054.94 68,480,081.78 -------------- -------------- Total Assets 58,096,898.55 80,014,989.32 ============== ==============

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:37 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: MAY-02 currency USD Company=15 (AMCV OPS)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 -------------- -------------- LIABILITIES Accounts Payable 104,083.99 5,363.60 Accrued Liabilities 91,122.51 289,488.87 Deposits 0.00 0.00 -------------- -------------- Total Current Liabilities 195,206.50 294,852.47 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 -------------- -------------- Total Liabilities 195,206.50 294,852.47 OTHER Liabilities Subject to Compromise 29,494,619.30 32,307,000.02 -------------- -------------- Total Other 29,494,619.30 32,307,000.02 OWNER'S EQUITY Common Stock 10,440.25 10,440.25 Add'l Paid In Capital 112,772,392.56 112,772,392.56 Current Net Income (Loss) (16,614,626.49) (37,037,717.81) Retained Earnings (67,761,133.57) (28,331,978.17) -------------- -------------- Total Owner's Equity 28,407,072.75 47,413,136.83 -------------- -------------- Total Liabilities & Equity 58,096,898.55 80,014,989.32 ============== ==============

AMCV Cruise ATTACHMENT 6 01-10967 (JCA) Operations Summary List of Due To/ Due From Accounts For the Month Ended May 31, 2002

BEGINNING ENDING AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (80,160,257.79) 34,775,601.97 3,309,287.47 (48,693,943.29) AMCV Holdings, Inc. 01-10973 (638,723.36) 585.00 -- (638,138.36) The Delta Queen Steamboat Co. 01-10970 (102,596,577.85) 4,200,700.81 35,468,776.66 (133,864,653.70) DQSB II, Inc. 01-10974 2,330.40 -- -- 2,330.40 Great AQ Steamboat, L.L.C. 01-10960 22,850,855.07 7,586.89 -- 22,858,441.96 Great Pacific NW Cruise Line, L.L.C. 01-10977 9,424,393.70 4,761.08 -- 9,429,154.78 Great River Cruise Line, L.L.C. 01-10963 9,437,391.08 8,109.72 1,721.18 9,443,779.62 Great Ocean Cruise Line, L.L.C. 01-10959 21,632,478.01 456,903.90 55,608.50 22,033,773.41 Cruise America Travel, Incorporated 01-10966 4,057,639.67 478.50 953.02 4,057,165.15 Delta Queen Coastal Voyages, L.L.C. 01-10964 (190,721.38) -- -- (190,721.38) Cape Cod Light, L.L.C. 01-10962 3,950,183.20 -- -- 3,950,183.20 Cape May Light, L.L.C. 01-10961 8,119,626.84 4,307.93 -- 8,123,934.77 Project America, Inc. N/A (4,501,177.23) -- -- (4,501,177.23) Oceanic Ship Co. N/A 57,683,638.00 4,605.12 -- 57,688,243.12 Project America Ship I, Inc. N/A 111,968.41 -- -- 111,968.41 Ocean Development Co. 01-10972 1,559,238.61 -- -- 1,559,238.61 Great Hawaiian Cruise Line, Inc. 01-10975 (22,292.97) -- -- (22,292.97) Great Hawaiian Properties Corporation 01-10971 (6,116,875.06) -- -- (6,116,875.06) American Hawaii Properties Corporation 01-10976 5,188,990.02 -- -- 5,188,990.02 Great Independence Ship Co. 01-10969 36,656,636.93 -- -- 36,656,636.93 CAT II, Inc. 01-10968 9,637,982.06 -- -- 9,637,982.06 --------------- ------------- ------------- --------------- (3,913,273.64) 39,463,640.92 38,836,346.83 (3,285,979.55) =============== ============= ============= ===============

AMCV Cruise Operations, Inc. 01-10967 (JCA) Accounts Receivable Aging As of May 31, 2002 Attachment 7 Not Applicable ACCOUNTS PAYABLE AMCV CRUISE OPERATIONS, INC. CASE # 01-10967 (JCA) TRIAL BALANCE ACCOUNTS PAYABLE DETAIL AS OF MAY 31, 2002 AS OF MAY 31, 2002 ATTACHMENT #8 LIABILITY ACCOUNT: 15-000-220102-00000

SUPPLIER NAME INVOICE NUMBER INVOICE DATE AMOUNT REMAINING AMOUNT INVOICE DESCRIPTION - ------------- -------------- ------------ ------ ---------------- ------------------- BELLSOUTH 042802 6892 28-Apr-02 $ 121.95 $ 121.95 601 M23 6892 892 042802 3363 28-Apr-02 $ 2,378.11 $ 2,378.11 504 M83 3363 363 051102 4300 11-May-02 $ 1,807.19 $ 1,807.19 954 660-4300 002 1807 Total for Supplier : $ 4,307.25 $ 4,307.25 BENTON COUNTY TRUSTEE 123101 31-Dec-01 $ 1,549.91 $ 1,549.91 PROPERTY ADDRESS BL000400 BILL NOBLES, TRUSTEE 123101B 31-Dec-01 $ 1,704.40 $ 1,704.40 BILL NUMBER 145214 123101A 31-Dec-01 $ 1,963.66 $ 1,963.66 BILL NUMBER 145375 Total for Supplier : $ 3,668.06 $ 3,668.06 BOARD OF COMMISSIONERS 248229 28-May-02 $ 269.55 $ 269.55 WATER METER 2/21-3/20/02 BOB PATTERSON, TRUSTEE 123101B 31-Dec-01 $ 7,025.24 $ 7,025.24 FOLIO NUMBER 6BL-0004-0-00000-0 123101A 31-Dec-01 $ 5,059.38 $ 5,059.38 FOLIO NUMBER 1BL-0004-0-00000-0 Total for Supplier : $12,084.62 $ 12,084.62 CALIAN, PHILLIP 51602 16-May-02 $ 142.18 $ 142.18 T&E 5/8-16/02 CARL E. LEVI, CITY TREASURER 123101 31-Dec-01 $ 1,400.93 $ 1,400.93 BILL#76013 CHARLIE CALDWELL, TRUSTEE 123101B 31-Dec-01 $ 2,807.17 $ 2,807.17 ACCOUNT NUMBER 000000516 123101A 31-Dec-01 $ 2,459.26 $ 2,459.26 ACCOUNT NUMBER 000000340 Total for Supplier : $ 5,266.43 $ 5,266.43 CITY OF PORTLAND 123101 31-Dec-01 $ 100.00 $ 100.00 AMERICAN CLASSIC VOYAGES, INC. CITY TAX COLLECTOR 123101 31-Dec-01 $ 51.77 $ 51.77 PROPERTY ADDRESS BL000400 COMMTECH INDUSTRIES CTII 2002-01456 30-Apr-02 $ 690.20 $ 690.20 COUNTY TRUSTEE 123101 31-Dec-01 $ 1,299.20 $ 1,299.20 PROPERTY ADDRESS BL000400 DCC SERVICES 853 30-Apr-02 $ 450.00 $ 450.00 DECATUR COUNTY TRUSTEE 123101 31-Dec-01 $ 991.66 $ 991.66 PROPERTY ADDRESS BL000400 DEPARTMENT OF REVENUE AND TAXATION 123101A 31-Dec-01 $ 10.00 $ 10.00 PROJECT AMERICA, INC. DICKSON COUNTY TRUSTEE 123101 31-Dec-01 $ 166.48 $ 166.48 PROPERTY ADDRESS BL000400 DIRECTV 0037-006279444 17-May-02 $ -- $ 113.75 #006279444 0036-006733024 26-Apr-02 $ 65.33 $ 65.33 #006733024 0031-006733024 26-Nov-01 $ 60.33 $ 60.33 ACCT#006733024 0024-006733024C 23-Apr-01 $ (659.33) $ (659.33) OVERPAID CK#4002327 ACCT#006733024 0030-006733024A 26-Oct-01 $ 60.33 $ 60.33 ACCT#006733024 0032-006733024 26-Dec-01 $ 60.33 $ 60.33 #006733024 Total for Supplier : $ (413.01) $ (299.26) DIVERSEY LEVER, INC 30706 18-Dec-01 $ (8.97) $ (8.97) FUEL SURCHARGE CREDIT DYER COUNTY TRUSTEE 123101 31-Dec-01 $ 2,915.08 $ 2,915.08 PROPERTY ADDRESS BL000400 ENTERGY 0415-051402 14-May-02 $ -- $ 12,699.89 #4189216 FEDERAL EXPRESS 4-137-35673CR 22-Mar-02 $ (9.14) $ (9.14) INV# 4-137-35673 4-136-98564 15-Mar-02 46.82 46.82 WESTON 4-240-32286 22-May-02 $ 89.98 $ 89.98 CHICAGO 4-185-92087CR 10-May-02 $ (26.72) $ (26.72) INV# 4-185-92087 $ 100.94 $ 100.94 FIDELIO CRUISE, INC 2002082 3-May-02 $ -- $ 12,205.50 HARDIN COUNTY TRUSTEE 123101 31-Dec-01 $ 2,254.32 $ 2,254.32 HARDIN COUNTY PROPERTY TAX

ACCOUNTS PAYABLE TRIAL BALANCE AMCV CRUISE OPERATIONS, INC. CASE #01-10967 (JCA) AS OF MAY 31, 2002 ACCOUNTS PAYABLE DETAIL AS OF MAY 31, 2002 LIABILITY ACCOUNT: 16-000-220102-00000 ATTACHMENT #8 SUPPLIER NAME INVOICE NUMBER INVOICE DATE AMOUNT REMAINING AMOUNT INVOICE DESCRIPTION - ------------- -------------- ------------ ------ ---------------- ------------------- HENRY COUNTY TRUSTEE 123101 31-Dec-01 $ 323.79 $ 323.79 PROPERTY ADDRESS BL000400 HOUSTON COUNTY TRUSTEE 123101 31-Dec-01 $ 303.80 $ 303.80 HOUSTON COUNTY PROPERTY TAX HUMPHREYS COUNTY TRUSTEE 123101 31-Dec-01 $ 1,014.31 $ 1,014.31 PROPERTY ADDRESS BL000400 ICS LOGISTICS 0245847B 12-Oct-01 $ 1,056.00 $ 1,056.00 INFOWORKS, INC 3230 10-May-02 $ 341.35 $ 341.35 IOS CAPITAL 52948867 28-Sep-01 $ 1,322.52 $ 1,322.52 10/25-11/24/01 52848199 17-Sep-01 $ 152.50 $ 152.50 10/12-11/11/01 Total for Supplier : $ 1,475.02 $ 1,475.02 ISLAND OASIS FROZEN COCKTAIL CO., INC 111501 15-Nov-01 $ 1,137.25 $ 1,137.25 KELLEYS HOME HEALTH 111001SMIT 10-Nov-01 $ 214.00 $ 214.00 UNINSURED MED EXP W SMITH 11/10/01 121001SMIT 10-Dec-01 $ 117.50 $ 117.50 UNINSURED MED EXP W SMITH 12/10/01 Total for Supplier : $ 331.50 $ 331.50 LAKE COUNTY TRUSTEE 123101 31-Dec-01 $ 5,781.44 $ 5,781.44 PROPERTY ADDRESS BL000400 LAURA MAX RACINE, TIPTON COUNTY TRUSTEE 123101 31-Dec-01 $ 2,110.19 $ 2,110.19 TIPTON COUNTY PERSONAL PROPERTY TAX MARION COUNTY TRUSTEE 123101 31-Dec-01 $ 1,594.57 $ 1,594.57 MARION COUNTY PROPERTY TAX MARTINEZ, CHRISTOPHER 0511-2402 11-May-02 $ -- $ 168.00 MAINT/ 05/11-24/02 MCC SERVICES 620034 20-May-02 $ -- $ 656.00 MAY '02 MAINTENANCE MCI WORLDCOM CONFERENCING 120101 1-Dec-01 $ (46.07) $ (46.07) 01-00005980958-00691 METROPOLITAN ELECTRONICS INC S1960 1-May-02 $ -- $ 105.00 ALARM MONITORING MAY-JULY MONTGOMERY COUNTY TRUSTEE 123101 31-Dec-01 $ 2,694.83 $ 2,694.83 PROPERTY ADDRESS BL000400 NANCE, PATRICIA 53102 31-May-02 $ 34.27 $ 34.27 T&E 4/1-5/31/02 NATCHEZ WATER WORKS 40902 9-Apr-02 $ (18.36) $ (18.36) #13418 NEW ORLEANS PRIVATE PATROL SERVICE, INC 0039231-IN 10-May-02 $ -- $ 1,786.10 SECURITY 5/1-10/02 NYS LLC/LLP FEE 123101B 31-Dec-01 $ 325.00 $ 325.00 DELTA QUEEN COASTAL VOYAGES, L.L.C. 123101A 31-Dec-01 $ 325.00 $ 325.00 CAPE MAY LIGHT, L. L. C. Total for Supplier : $ 650.00 $ 650.00 PAUL MEADOW, TRUSTEE 123101 31-Dec-01 $ 4,646.31 $ 4,646.31 LAUDERDALE COUNTY PROPERTY TAX PERRY COUNTY 123101 31-Dec-01 $ 544.04 $ 544.04 PROPERTY ADDRESS BL000400 SOMERSET REFINERY, INC 12718B 25-Oct-01 $ 3,771.46 $ 0.01 PO#11923 SOUTHWESTERN BELL 0227 122401 24-Dec-01 $ (14.66) $ (14.66) 314-436-0227-138-8 8922 120401 4-Dec-01 $ (7.62) $ (7.62) 573 221-8922 555-7 Total for Supplier : $ (22.28) $ (22.28) SPEED WHEELS EXPRESS 51502 15-May-02 $ -- $ 110.00 MAIL RUN 5/1-15/02 STANDARD COURIER 29838 25-May-02 $ 9.00 $ 9.00 STATE OF NEW JERSEY 123101 31-Dec-01 $ 340.00 $ 340.00 DELTA QUEEN STEAMBOAT COMPANY STATE OF NEW JERSEY - CBT 123101 31-Dec-01 $ 340.00 $ 340.00 DQSB II, INC

ACCOUNTS PAYABLE TRIAL BALANCE AMCV CRUISE OPERATIONS, INC. CASE #01-10967 (JCA) AS OF MAY 31, 2002 ACCOUNTS PAYABLE DETAIL AS OF MAY 31, 2002 LIABILITY ACCOUNT: 16-000-220102-00000 ATTACHMENT #8 SUPPLIER NAME INVOICE NUMBER INVOICE DATE AMOUNT REMAINING AMOUNT INVOICE DESCRIPTION - ------------- -------------- ------------ ------ ---------------- ------------------- STEWART COUNTY TRUSTEE 123101 31-Dec-01 $ 2,569.98 $ 2,569.98 PROPERTY ADDRESS BL000400 TAX COLLECTOR 123101 31-Dec-01 $ 240.81 $ 240.81 PROPERTY ADDRESS BL000400 TENNESSEE DEPARTMENT OF REVENUE 123101 31-Dec-01 $ 7,000.00 $ 7,000.00 DELTA QUEEN STEAMBOAT COMPANY TREASURER, CITY OF MEMPHIS 123101 31-Dec-01 $ 2,626.70 $ 2,626.70 ACCOUNT NUMBER TBL000400 WAYNE COUNTY TRUSTEE 123101 31-Dec-01 $ 205.03 $ 205.03 PROPERTY ADDRESS BL000400 WEST VIRGINIA STATE TAX DEPARTMENT 123101 31-Dec-01 $ 2,010.00 $ 2,010.00 AMERICAN CLASSIC VOYAGES, INC. WITHERS/SUDDATH RELOCATION SYSTEMS, INC 145196 30-Oct-01 $ 1,040.00 $ 10.00 60 DOLLIE LOADS TOTAL FOR LIABILITY ACCOUNT: $81,401.54 $104,444.33 TOTAL FOR REPORT: $81,401.54 $104,444.33 CREDIT AMERICAN AIRLINES $ (360.34) TOTAL A/P LIABILITY $104,083.99

DEBTOR: AMCV CRUISE OPERATIONS, INC. CASE NUMBER: 01-10967 (JCA) PRELIMINARY MONTHLY OPERATING REPORT AS OF MAY 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO MAY MONTHLY OPERATING REPORT The information contained herein is unaudited. 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. The Debtor completed a sale of its fixed assets on May 31, 2002. In connection therewith, the Debtor recorded a loss on disposition of $8.1 million. This amount, which is included in reorganization expenses, is an estimate that will be adjusted when the Debtor receives a final allocation of the purchase price from the Purchaser. The asset purchase agreement allows the Purchaser sixty days to provide an allocation between the purchased assets. EX-99.11 13 g77172exv99w11.txt CAT II, INC. MAY 2002 EXHIBIT 99.11 DEBTOR: CAT II, INC. CASE NUMBER: 01-10968 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 CAT II, Inc. was inactive for the above referenced period and, to the best of my knowledge, the foregoing is true and correct. /s/ STEVE MOELLER - ------------------------------------- Steve Moeller Director, Accounting EX-99.12 14 g77172exv99w12.txt GREAT INDEPENDENCE SHIP CO. MAY 2002 EXHIBIT 99.12 DEBTOR: GREAT INDEPENDENCE SHIP CO. CASE NUMBER: 01-10969 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ STEVE MOELLER - ----------------------------- Steve Moeller Director, Accounting DEBTOR: GREAT INDEPENDENCE SHIP CO. CASE NUMBER: 01-10969 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report 25-Jun-02 Summary Of Bank And Investment Accounts Attachment 1 11:07 AM Great Independence Ship Co. Summary Case No: 01-10969 (JCA) UNAUDITED Great Independence Ship Co. For Month Of May, 2002 Balances --------------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 5/01/02 As Of 5/31/02 Included Included Reconciled - ------- ------------- ------------- -------- -------- ---------- Independence Steamer 0.00 0.00 No - No - No - Bank of Hawaii Account Account Account Account # - 0001-029126 Closed Closed Closed 25-Jun-02 Receipts & Disbursements Attachment 2 11:07 AM Great Independence Ship Co. Summary Case No: 01-10969 (JCA) Great Independence Ship Co. For Month Of May, 2002 Attach 2 No Receipts Or Disbursements - Account Closed 25-Jun-02 Concentration & Investment Account Statements Attachment 3 11:07 AM Great Independence Ship Co. Summary Case No: 01-10969 (JCA) Great Independence Ship Co. For Month Of May, 2002 Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 27-JUN-02 16:30:30 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: MAY-02 currency USD Company=54 (S.S. INDEPENDENCE)

PTD-Actual 31-May-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 Interest Expense 4,191.38 Equity in Earnings for Sub 0.00 Reorganization expenses 0.00 ------------------ Total Other Expense/(Income) 4,191.38 ------------------ Net Pretax Income/(Loss) (4,191.38) Income Tax Expense 0.00 ------------------ Net Income/(Loss) (4,191.38) ==================

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:38 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: MAY-02 currency USD Company=54 (S.S. INDEPENDENCE)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 ------------------- ------------------ ASSETS Cash and Equivalent 0.00 64,505.83 Restricted Cash 0.00 0.00 Accounts Receivable 0.00 175,538.74 Inventories 1,144,821.19 1,148,206.76 Prepaid Expenses 0.00 2,954.26 Other Current Assets 0.00 16,615.13 ------------------- ------------------ Total Current Assets 1,144,821.19 1,407,820.72 Fixed Assets 97,928,924.04 97,928,924.04 Accumulated Depreciation (44,272,667.29) (44,272,667.29) ------------------- ------------------ Net Fixed Assets 53,656,256.75 53,656,256.75 Net Goodwill 0.00 0.00 Intercompany Due To/From (17,755,365.00) (17,643,280.88) Net Deferred Financing Fees 679,002.46 709,459.82 Net Investment in Subsidiaries 0.00 0.00 Total Other Assets (17,076,362.54) (16,933,821.06) ------------------- ------------------ Total Assets 37,724,715.40 38,130,256.41 =================== ==================

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:38 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: MAY-02 currency USD Company=54 (S.S. INDEPENDENCE)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 ------------------ ------------------ LIABILITIES Accounts Payable 0.00 0.00 Accrued Liabilities 0.00 31,544.34 Deposits 0.00 0.00 ------------------ ------------------ Total Current Liabilities 0.00 31,544.34 Long Term Debt 0.00 0.00 Other Long Term Liabilities 1,266,494.79 1,266,494.79 ------------------ ------------------ Total Liabilities 1,266,494.79 1,298,039.13 OTHER Liabilities Subject to Compromise 32,349,773.96 32,372,521.16 ------------------ ------------------ Total Other 32,349,773.96 32,372,521.16 OWNER'S EQUITY Common Stock 1,000.00 1,000.00 Add'l Paid In Capital 17,616,000.00 17,616,000.00 Current Net Income (Loss) (43,533.40) (9,694,324.85) Retained Earnings (13,465,019.95) (3,462,979.03) ------------------ ------------------ Total Owner's Equity 4,108,446.65 4,459,696.12 ------------------ ------------------ Total Liabilities & Equity 37,724,715.40 38,130,256.41 ================== ==================

Great Independence Ship Co. ATTACHMENT 6 01-10969 (JCA) Summary List of Due To/Due From Accounts For the Month Ended May 31, 2002

BEGINNING ENDING AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (24,948,774.58) -- -- (24,948,774.58) AMCV Cruise Operations, Inc. 01-10967 (36,656,636.93) -- -- (36,656,636.93) The Delta Queen Steamboat Co. 01-10970 83,084.83 -- -- 83,084.83 Great AQ Steamboat, L.L.C 01-10960 4,881.60 -- -- 4,881.60 Great Ocean Cruise Line, L.L.C 01-10959 2,195.09 -- -- 2,195.09 Cruise America Travel, Incorporated 01-10966 (16,321.27) -- -- (16,321.27) Cape Cod Light, L.L.C 01-10962 (32,099.49) -- -- (32,099.49) Project America, Inc. N/A 21,415.35 -- -- 21,415.35 Oceanic Ship Co. N/A 1,172,074.09 -- -- 1,172,074.09 Project America Ship I, Inc. N/A 277,329.74 -- -- 277,329.74 Great Hawaiian Cruise Line, Inc. 01-10975 24,699,040.96 -- -- 24,699,040.96 Great Hawaiian Properties Corporation 01-10971 28,898,393.97 -- -- 28,898,393.97 American Hawaii Properties Corporation 01-10976 542,250.76 -- -- 542,250.76 CAT II, Inc. 01-10968 (11,802,199.12) -- -- (11,802,199.12) -------------------------------------------------------------------- (17,755,365.00) -- -- (17,755,365.00) ====================================================================

Great Independence Ship Co. 01-10969 (JCA) Accounts Receivable Aging As of May 31, 2002 Attachment 7 Not Applicable Great Independence Ship Co. 01-10969 (JCA) Accounts Payable Detail As of May 31, 2002 Attachment 8 Not Applicable DEBTOR: GREAT INDEPENDENCE SHIP CO. CASE NUMBER: 01-10969 (JCA) PRELIMINARY MONTHLY OPERATING REPORT AS OF MAY 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO MAY 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. On October 22, 2001, the Debtor ceased all operations, and the U.S. Maritime Administration took possession of the ss Independence, the Debtor's primary asset, in connection with the uncontested foreclosure of its marine lien on the vessel. In connection therewith, the Debtor ceased recording depreciation expense and ceased accruing for the next scheduled dry-dock. 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. 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. 4. Food and beverage inventories for the ss Independence have been adjusted to reflect physical inventory counts on board the ship on October 20, 2001. All other inventory values are based on information contained in the computer systems. EX-99.13 15 g77172exv99w13.txt THE DELTA QUEEN STEAMBOAT CO. MAY 2002 EXHIBIT 99.13 DEBTOR: THE DELTA QUEEN STEAMBOAT COMPANY CASE NUMBER: 01-10970 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ STEVE MOELLER - ----------------------- Steve Moeller Director, Accounting DEBTOR: THE DELTA QUEEN STEAMBOAT COMPANY CASE NUMBER: 01-10970 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report 28-Jun-02 Summary Of Bank And Investment Accounts Attachment 1 1:58 PM The Delta Queen Steamboat Co. Summary Case No: 01-10970 (JCA) UNAUDITED The Delta Queen Steamboat Co. For Month Of May, 2002

Balances --------------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 5/01/02 As Of 5/31/02 Included Included Reconciled - ------- ------------- ------------- ------------- ---------- ---------- Delta Queen Controlled Disb 1,880.00 7,166.96 Yes Yes Yes Hibernia Account # - 542027373 Delta Queen Master Cash 128,924.83 250,991.17 Yes Yes Yes Hibernia Account # - 812-395-335 Delta Queen Payroll 21,560.90 58,433.00 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 5,817.43 1,818.21 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 70,786.19 120,808.76 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 1,025,906.60 0.00 Yes No - Not Yes Escrow Account Concentration LaSalle Account Account # - 62-8930-70-3 The Delta Queen Steamboat Co 0.00 750,000.00 Yes No - Not Yes Escrow Account - DQ/DN IDCC Concentration LaSalle Account Account # - 62-9003-40-1 The Delta Queen Steamboat Co 0.00 250,000.00 Yes No - Not Yes Escrow Account - DQ/DN - Seller Proration Concentration LaSalle Account Account # - 62-9003-42-7 28-Jun-02 Receipts & Disbursements Attachment 2-1 4:32 PM The Delta Queen Steamboat Co. R&D - Hibernia Case No: 01-10970 (JCA) UNAUDITED DQ Controlled Disb Hibernia Controlled Disbursements Account # - 542027373 1 May 02 - 31 May 02 Opening Balance - 1 May 02 1,880.00 Receipts 753,491.84 From The Delta Queen Steam Boat Co. - Hibernia - DQSC Master Cash - Account (812-395-335) (15,511.45) Reversal Back To The Delta Queen Steam Boat Co. - Hibernia - DQSC Master Cash - Account (812-395-335) ---------- 737,980.39 Total Receipts Disbursements (33,230.11) Crew Maintenance & Medical (223,710.38) Lay-Up (2,074.45) Office - Chicago (18,855.62) Office - NOLA (2,695.38) Office - Weston (34,994.90) Payroll Benefits (1,350.00) Coast Guard Fees (64,004.69) Professional Fees (6,958.40) Refunds (4,540.64) SG&A - Finance (3,170.98) SG&A - Hotel Ops (9,600.35) SG&A - HR (23,683.06) SG&A - IT (1,640.00) SG&A - Legal (284.50) SG&A - Marine Ops (3,846.25) SG&A - Passenger Services (10,056.16) SG&A - Risk (32,372.52) SG&A - Sales & Marketing (28,621.15) Start-Up - MQ (3,810.68) Vessel Ops - MQ (Pre-May 7) (6,753.43) Other Vessel Expense - Legal (25,583.86) Other Vessel Expense - Tie-Up ----------- (541,837.51) Total Disbursements (* See Footnote) Closing Balance - 31 May 02 7,166.96 *$190,855.92 Of Disbursements Not Reflected In Disbursements Above Due To Being Reimbursed By Buyer Of Assets At Closing. 28-Jun-02 Receipts & Disbursements Attachment 2-2 4:35 PM The Delta Queen Steamboat Co. R&D - Hibernia Case No: 01-10970 (JCA) UNAUDITED DQ Master Cash Hibernia DQ Master Cash Account # - 812-395-335 1 May 02 - 31 May 02 Opening Balance - 1 May 02 128,924.83 Receipts 2,050,000.00 From American Classic Voyages Co - Credit Suisse Asset Management - Account (247003452) 296,000.00 From AMCV Cruise Operations, Inc. - First Union - AMCV Cruise Ops Master Cash - Account (2090002602362) 400,762.61 From Cape May Light L.L.C. - Hibernia Investments L.L.C. - Cape May Light Security - Account (4R6-771783) 15,511.45 From The Delta Queen Steam Boat Co. - Hibernia - DQSC Contr. Disb. - Account (542027373) 353,543.74 Misc Deposits - Primarily FY 02 Voyage Deposits 84,601.80 From Great Ocean Cruise Line, L.L.C. MQ Petty Cash 3,200,419.60 Total Receipts ------------- 61,000.00 Disbursements (753,491.84) To The Delta Queen Steam Boat Co. - Hibernia - DQSC Contr. Disb. - Account (542027373) (75,000.00) To Great Ocean Cruise Line, L.L.C. - Hibernia MQ Steamer - Account (812-502-719) (210,000.00) To Great Ocean Cruise Line, L.L.C. MQ Petty Cash (122,233.45) To The Delta Queen Steam Boat Co. - LaSalle DQSC FMC Escrow - Account (62-8930-70-3) (13,627.22) 401K Payroll Payments (152.93) To American Classic Voyages Co. - Chase - AMCV Medical Benefits - Account (002-2-426522) (50,000.00) To The Delta Queen Steam Boat Co. - Hibernia - DQSC Receipts - Account (882-390-047) (710,000.00) To The Delta Queen Steam Boat Co. - Hibernia - DQ Payroll - Account (812-395-289) (410,000.00) To Great River Cruise Line, LLC - Hibernia - DQ Steamer - Account (812-395-270) (70,207.49) Insurance (453,564.50) Professional Fees (83.13) Bank Fees (23,920.00) I.T. Support (3,621.33) Employee Replacement Checks (253.39) U.P.S. -------------- (2,896,155.28) Total Disbursements (* See Footnote) Closing Balance - 31 May 02 250,991.17 *$182,197.98 Of Disbursements Not Reflected In Disbursements Above Due To Being Reimbursed By Buyer Of Assets At Closing. 28-Jun-02 Receipts & Disbursements Attachment 2-3 4:36 PM The Delta Queen Steamboat Co. R&D - Hibernia Case No: 01-10970 (JCA) UNAUDITED DQ Payroll Hibernia DQ Payroll Account # - 812-395-289 1 May 02 - 31 May 02 Opening Balance - 1 May 02 21,560.90 Receipts 710,000.00 From The Delta Queen Steam Boat Co. - Hibernia - DQSC Master Cash - Account (812-395-335) 50,000.00 From Great Ocean Cruise Line - Hibernia - MQ Steamer - Account (812-502-719) 2,121.33 ACH Reversal ---------- 762,121.33 Total Receipts Disbursements (635,998.59) Payroll - Wires & Checks ----------- (635,998.59) Total Disbursements (* See Footnote) Closing Balance - 31 May 02 58,433.00 * $89,250.64 Of Disbursements Not Reflected In Disbursements Above Due to Being Reimbursed By Buyer Of Assets At Closing. 28-Jun-02 Receipts & Disbursements Attachment 2-4 2:01 PM The Delta Queen Steamboat Co. R&D - BankOne Case No: 01-10970 (JCA) UNAUDITED DQ Credit Cards Bank One Delta Queen Credit Cards Account # - 552-0110062868 1 May 02 - 31 May 02 Opening Balance - 1 May 02 5,817.43 Receipts --------- 0.00 Total Receipts Disbursements (3,999.22) Bank Fees - Most To Be Reversed In June --------- (3,999.22) Closing Balance - 31 May 02 1,818.21 28-Jun-02 Receipts & Disbursements Attachment 2-5 4:40 PM The Delta Queen Steamboat Co. R&D - Hibernia Case No: 01-10970 (JCA) UNAUDITED DQSC Receipts Hibernia DQSC Receipts Account # - 882-390-047 1 May 02 - 31 May 02 Opening Balance - 1 May 02 70,786.19 Receipts 50,000.00 From The Delta Queen Steamboat Co - Hibernia - DQ Master Cash - Account (812-395-335) 99,036.35 Paymentech Return Of Refunds Erroneously Withdrawn Previously Credit Card Chargeback Reversals 145.62 Chargeback Reversals ---------- 149,181.97 Total Receipts Disbursements (456.65) Credit Card Processor Fees (904.77) Credit Card Chargeback ---------- (1,361.42) Total Disbursements (* See Footnote) Closing Balance - 31 May 02 120,808.76 * $97,797.98 Of Disbursements Not Reflected In Disbursements Above Due To Being Reimbursed By Buyer Of Assets At Closing. 28-Jun-02 Receipts & Disbursements Attachment 2-6 4:41 PM The Delta Queen Steamboat Co. R&D - LaSalle Case No: 01-10970 (JCA) UNAUDITED DQSC Escrow LaSalle DQSC Escrow Account # - 62-8930-70-3 1 May 02 - 31 May 02 Opening Balance - 1 May 02 1,025,906.60 Receipts 122,233.45 From The Delta Queen Steamboat Company - Hibernia - DQ Master Cash Account (812-395-335) 780.39 Interest Income ------------ 123,013.84 Total Receipts Disbursements ------------ 0.00 Total Disbursements (* See Footnote) Closing Balance - 31 May 02 0.00 *$1,148,920.44 Of Disbursements Not Reflected In Disbursements Above Due To Being Reimbursed By Buyer Of Assets At Closing. 28-Jun-02 Receipts & Disbursements Attachment 2-7 2:12 PM The Delta Queen Steamboat Co. R&D - LaSalle Case No: 01-10970 (JCA) UNAUDITED DQ-DN IDCC Escrow LaSalle DQ-DN IDCC Escrow Account # - 62-9003-40-1 1 May 02 - 31 May 02 Opening Balance - 1 May 02 0.00 Receipts 750,000.00 From Delaware North ---------- 750,000.00 Total Receipts Disbursements ---------- 0.00 Total Disbursements Closing Balance - 31 May 02 750,000.00 28-Jun-02 Receipts & Disbursements Attachment 2-7 2:14 PM The Delta Queen Steamboat Co. R&D - LaSalle Case No: 01-10970 (JCA) UNAUDITED DQ-DN Seller proration Escrow LaSalle DQ-DN Seller Proration Escrow Account # - 62-9003-42-7 1 May 02 - 31 May 02 Opening Balance - 1 May 02 0.00 Receipts 250,000.00 From Delaware North ---------- 250,000.00 Total Receipts Disbursements ---------- 0.00 Total Disbursements Closing Balance - 31 May 02 250,000.00 AMCV US SET OF BOOKS Date: 27-JUN-02 16:30:33 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: MAY-02 currency USD Company=20 (DELTA QUEEN STEAM CO)

PTD-Actual 31-May-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 40,399.04 ------------ Operating Income (40,399.04) Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub 2,685,831.01 Reorganization expenses 2,077,283.11 ------------ Total Other Expense/(Income) (608,547.90) ------------ Net Pretax Income/(Loss) 568,148.86 Income Tax Expense 0.00 ------------ Net Income/(Loss) 568,148.86 ============

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:41 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: MAY-02 currency USD Company=20 (DELTA QUEEN STEAM CO)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 ------------- ------------- ASSETS Cash and Equivalent 288,200.93 2,494,983.63 Restricted Cash 1,000,000.00 0.00 Accounts Receivable 264,161.02 0.00 Inventories 0.00 840,779.06 Prepaid Expenses 0.00 13,147.33 Other Current Assets 0.00 0.00 ------------- ------------- Total Current Assets 1,552,361.95 3,348,910.02 Fixed Assets 0.00 8,202,345.75 Accumulated Depreciation 0.00 (5,195,800.16) ------------- ------------- Net Fixed Assets 0.00 3,006,545.59 Net Goodwill 0.00 0.00 Intercompany Due To/From 42,151,633.02 37,437,552.28 Net Deferred Financing Fees 0.00 5,434.15 Net Investment in Subsidiaries 33,288,180.97 33,999,708.26 ------------- ------------- Total Other Assets 75,439,813.99 71,442,694.69 ------------- ------------- Total Assets 76,992,175.94 77,798,150.30 ============= =============

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:41 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: MAY-02 currency USD Company=20 (DELTA QUEEN STEAM CO)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 ------------- ------------- LIABILITIES Accounts Payable 0.00 0.00 Accrued Liabilities 2,302,416.76 0.00 Deposits 0.00 0.00 ------------- ------------- Total Current Liabilities 2,302,416.76 0.00 Long Term Debt 0.00 0.00 Other Long Term Liabilities 9,993,779.93 9,993,779.93 ------------- ------------- Total Liabilities 12,296,196.69 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) (2,237,384.62) (2,866,520.92) Retained Earnings 32,790,195.48 36,527,722.90 ------------- ------------- Total Owner's Equity 64,118,143.57 67,226,534.69 ------------- ------------- Total Liabilities & Equity 76,992,175.94 77,798,150.30 ============= =============

The Delta Queen Steamboat Co. 01-10970 (JCA) ATTACHMENT 6 Summary List of Due To/Due From Accounts For the Month Ended May 31, 2002

BEGINNING ENDING AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (6,324,564.18) 22,302.71 - (6,302,261.47) AMCV Cruise Operations, Inc. 01-10967 102,596,577.85 35,681,482.88 4,413,407.03 133,864,653.70 Great AQ Steamboat, L.L.C. 01-10960 (17,085,065.28) 11,565.82 21,835,498.73 (38,908,998.19) Great Pacific NW Cruise Line, L.L.C. 01-10977 (8,422,821.07) 6,418.44 - (8,416,402.63) Great River Cruise Line, L.L.C. 01-10963 (6,758,836.66) 1,078,422.25 4,741,570.12 (10,421,984.53) Great Ocean Cruise Line, L.L.C. 01-10959 (17,986,662.31) 7,829,192.16 7,478,139.95 (17,635,610.10) Cruise America Travel, Incorporated 01-10966 309,751.39 79,602.43 132,850.00 256,503.82 Delta Queen Coastal Voyages, L.L.C. 01-10964 (519,611.16) 14,128.56 400,541.48 (906,024.08) Cape Cod Light, L.L.C. 01-10962 (1,404,059.37) - - (1,404,059.37) Cape May Light, L.L.C. 01-10961 (8,431,118.53) - - (8,431,118.53) Project America, Inc. N/A (2,935,356.03) 1,008.00 - (2,934,348.03) 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 (7,057.02) - - (7,057.02) 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) --------------------------------------------------------------------- 36,429,517.08 44,724,123.25 39,002,007.31 42,151,633.02 =====================================================================

THE DELTA QUEEN STEAMBOAT COMPANY CASE #: 01-10970 (JCA) ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

DETAIL: 0-30 DAYS 31-60 DAYS 61-90 DAYS 91+ DAYS TOTAL Paymentech Credit Card Processor 8,199.26 8,199.26 American Express Credit Card Processor 0.00 Discover Credit Card Processor 0.00 Diners Credit Card Processor 0.00 Travel Agents 0.00 Delaware North Companies 255,961.76 255,961.76 ---------- ----------- ----------- ---------- ---------- Total 264,161.02 0.00 0.00 0.00 264,161.02 ========== =========== =========== ========== ==========

ATTACHMENT # 7 The Delta Queen Steamboat Company 01-10970 (JCA) Accounts Payable Detail As of May 31, 2002 Attachment 8 Not Applicable DEBTOR: THE DELTA QUEEN STEAMBOAT COMPANY CASE NUMBER: 01-10970 (JCA) PRELIMINARY MONTHLY OPERATING REPORT AS OF MAY 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO MAY MONTHLY OPERATING REPORT The information contained herein is unaudited. 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. The Debtor completed a sale of its fixed assets and inventories on May 31, 2002. In connection therewith, the Debtor recorded a loss on disposition of $2.1 million. This amount, which is included in reorganization expenses, is an estimate that will be adjusted when the Debtor receives a final allocation of the purchase price from the Purchaser. The asset purchase agreement allows the Purchaser sixty days to provide an allocation between the purchased assets. 2. The asset sale has resulted in several timing differences that have been reflected on the Debtor's books. Pursuant to the asset purchase agreement, a $1 million escrow has been set-up. A receivable has been established for monies due from the Purchaser subject to final calculation of all closing adjustments. An accrual has been recorded in the amount of $1.9 million to reflect fees and commission incurred in connection with the sale. 3. 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. EX-99.14 16 g77172exv99w14.txt GREAT HAWAIIAN PROPERTIES CORPORATION MAY 2002 EXHIBIT 99.14 DEBTOR: GREAT HAWAIIAN PROPERTIES CORPORATION CASE NUMBER: 01-10971 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ STEVE MOELLER - --------------------------- Steve Moeller Director, Accounting DEBTOR: GREAT HAWAIIAN PROPERTIES CORPORATION CASE NUMBER: 01-10971 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report 28-Jun-02 Summary Of Bank And Investment Accounts Attachment 1 2:17 PM Great Hawaiian Properties Corporation Summary Case No: 01-10971 (JCA) UNAUDITED Great Hawaiian For Month Of May, 2002 Properties Corp

Balances ------------------------------ Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 5/01/02 As Of 5/31/02 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 900.00 1,500.00 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 (15.00) 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. Account Account Account Account # - 020-33478-5 Closed Closed Closed

28-Jun-02 Receipts & Disbursements Attachment 2-1 2:22 PM Great Hawaiian Properties Corporation R&D - Bank One Case No: 01-10971 (JCA) UNAUDITED AHC Mainland Bank One Credit Cards AHC Mainland Credit Cards Account # - 552-0110521579 1 May 02 - 31 May 02 Opening Balance - 1 May 02 900.00 Receipts 600.00 Receipts From Credit Card Chargeback Reversals -------- 600.00 Total Receipts Disbursements -------- 0.00 Total Disbursements Closing Balance - 31 May 02 1,500.00 28-Jun-02 Receipts & Disbursements Attachment 2-2 2:25 PM Great Hawaiian Properties Corporation R&D - Bank One Case No: 01-10971 (JCA) UNAUDITED AHC Honolulu Bank One Credit Cards AHC Honolulu Credit Cards Account # - 552-0110572580 1 May 02 - 31 May 02 Opening Balance - 1 May 02 0.00 Receipts ------ 0.00 Total Receipts Disbursements (15.00) Bank Fees - Account Being Left Open For Occasional Prior Year Credit Card Chargeback Reversal ------ (15.00) Total Disbursements Closing Balance - 31 May 02 (15.00) 28-Jun-02 Concentration & Investment Attachment 3 2:17 PM Account Statements Summary Great Hawaiian Properties Corporation Great Hawaiian Case No: 01-10971 (JCA) Properties Corp For Month Of May, 2002 Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 27-JUN-02 16:30:34 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: MAY-02 currency USD Company=51 (AHC - OPERATIONS)

PTD-Actual 31-May-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 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: 27-JUN-02 16:29:42 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: MAY-02 currency USD Company=51 (AHC - OPERATIONS)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 ------------- ------------- ASSETS Cash and Equivalent 1,500.00 665,214.37 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 1,500.00 703,384.15 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 21,009,106.76 20,319,892.39 Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries 0.00 0.00 ------------- ------------- Total Other Assets 21,009,106.76 20,319,892.39 ------------- ------------- Total Assets 21,010,606.76 21,328,913.50 ============= =============

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:42 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: MAY-02 currency USD Company=51 (AHC - OPERATIONS)

YTD-Actual YTD-Actual 31-May-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 ATTACHMENT 6 01-10971 (JCA) Properties Corp. Summary List of Due To/ Due From Accounts For the Month Ended May 31, 2002

BEGINNING ENDING AFFILIATE NAME CASE NUMBER 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 (3,599,435.73) -- 600.00 (3,600,035.73) 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 -------------- ---- ------ -------------- 21,009,706.76 -- 600.00 21,009,106.76 ============== ==== ====== ==============

Great Hawaiian Properties Corporation 01-10971 (JCA) Accounts Receivable Aging As of May 31, 2002 Attachment 7 Not Applicable Great Hawaiian Properties Corporation 01-10971 (JCA) Accounts Payable Detail As of May 31, 2002 Attachment 8 Not Applicable DEBTOR: GREAT HAWAIIAN PROPERTIES CORPORATION CASE NUMBER: 01-10971 (JCA) PRELIMINARY MONTHLY OPERATING REPORT AS OF MAY 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO MAY 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. EX-99.15 17 g77172exv99w15.txt OCEAN DEVELOPMENT CO. MAY2002 EXHIBIT 99.15 DEBTOR: OCEAN DEVELOPMENT CO. CASE NUMBER: 01-10972 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 Ocean Development Co. was inactive for the above referenced period and, to the best of my knowledge, the foregoing is true and correct. /s/ STEVE MOELLER - ----------------------- Steve Moeller Director, Accounting EX-99.16 18 g77172exv99w16.txt AMCV HOLDINGS, INC. MAY 2002 EXHIBIT 99.16 DEBTOR: AMCV HOLDINGS, INC. CASE NUMBER: 01-10973 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ STEVE MOELLER - ------------------------- Steve Moeller Director, Accounting DEBTOR: AMCV HOLDINGS, INC. CASE NUMBER: 01-10973 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report 28-Jun-02 Summary Of Bank And Investment Accounts Attachment 1 2:30 PM AMCV Holdings, Inc. Summary Case No: 01-10973 (JCA) UNAUDITED AMCV Holdings, Inc. For Month Of May, 2002

Balances ------------------------------ Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 5/01/02 As Of 5/31/02 Included Included Reconciled - ------- ------------- ------------- ------------- ---------- ---------- No Bank Or Investment NA NA NA NA NA Accounts

28-Jun-02 Receipts & Disbursements Attachment 2 2:30 PM AMCV Holdings, Inc. Summary Case No: 01-10973 (JCA) AMCV Holdings, Inc. For Month Of May, 2002 Attach 2 No Receipts Or Disbursements Due To No Bank Or Investment Accounts 28-Jun-02 Concentration & Investment Attachment 3 2:30 PM Account Statements Summary AMCV Holdings, Inc. AMCV Holdings, Inc. Case No: 01-10973 (JCA) Attach 3 For Month Of May, 2002 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 27-JUN-02 16:30:34 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: MAY-02 currency USD Company=12 (AMCV - HOLDINGS)

PTD-Actual 31-May-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 (8,894.39) Reorganization expenses 0.00 -------- Total Other Expense/(Income) 8,894.39 -------- Net Pretax Income/(Loss) (8,894.39) Income Tax Expense 0.00 -------- Net Income/(Loss) (8,894.39) ========

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:43 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: MAY-02 currency USD Company=12 (AMCV - HOLDINGS)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 ------------- ------------- ASSETS Cash and Equivalent 0.00 0.00 Restricted Cash 0.00 0.00 Accounts Receivable 0.00 0.00 Inventories 0.00 0.00 Prepaid Expenses 0.00 0.00 Other Current Assets 0.00 0.00 ------------- ------------- Total Current Assets 0.00 0.00 Fixed Assets 0.00 0.00 Accumulated Depreciation 0.00 0.00 ------------- ------------- Net Fixed Assets 0.00 0.00 Net Goodwill 0.00 0.00 Intercompany Due To/From 0.00 0.00 Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries (2,686,109.08) (918,077.34) ------------- ------------- Total Other Assets (2,686,109.08) (918,077.34) ------------- ------------- Total Assets (2,686,109.08) (918,077.34) ============= =============

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:43 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: MAY-02 currency USD Company=12 (AMCV - HOLDINGS)

YTD-Actual YTD-Actual 31-May-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 0.00 0.00 ------------- ------------- Total Liabilities 0.00 0.00 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 79,208,059.85 79,208,059.85 Current Net Income (Loss) (2,500,318.63) (13,500,663.21) Retained Earnings (79,403,290.55) (66,634,914.23) ------------- ------------- Total Owner's Equity (2,686,109.08) (918,077.34) ------------- ------------- Total Liabilities & Equity (2,686,109.08) (918,077.34) ============= =============

AMCV Holdings, Inc. ATTACHMENT 6 01-10973 (JCA) Summary List of Due To/ Due From Accounts For the Month Ended May 31, 2002

BEGINNING ENDING AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE AMCV Cruise Operations, Inc. 01-10967 638,723.36 -- 585.00 638,138.36 Project America, Inc. N/A (457,361.14) -- -- (457,361.14) Great Hawaiian Cruise Line, Inc. 01-10975 (181,362.22) 585.00 -- (180,777.22) ----------- ------ ------ ------------ -- 585.00 585.00 -- =========== ====== ====== ============

AMCV Holdings, Inc. 01-10973 (JCA) Accounts Receivable Aging As of May 31, 2002 Attachment 7 Not Applicable AMCV Holdings, Inc. 01-10973 (JCA) Accounts Payable Detail As of May 31, 2002 Attachment 8 Not Applicable DEBTOR: AMCV HOLDINGS, INC. CASE NUMBER: 01-10973 (JCA) PRELIMINARY MONTHLY OPERATING REPORT AS OF MAY 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO MAY 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. EX-99.17 19 g77172exv99w17.txt DQSB II, INC. MAY 2002 EXHIBIT 99.17 DEBTOR: DQSB II, INC. CASE NUMBER: 01-10974 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ STEVE MOELLER - ------------------------ Steve Moeller Director, Accounting DEBTOR: DQSB II, INC. CASE NUMBER: 01-10974 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report 28-Jun-02 Summary Of Bank And Investment Accounts Attachment 1 2:32 PM DQSB II, Inc. Summary Case No: 01-10974 (JCA) UNAUDITED DQSB II, Inc. For Month Of May, 2002

Balances ------------------------------ Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 5/01/02 As Of 5/31/02 Included Included Reconciled - ------- ------------- ------------- ------------- ---------- ---------- No Bank Or Investment NA NA NA NA NA Accounts

28-Jun-02 Receipts & Disbursements Attachment 2 2:32 PM DQSB II, Inc. Summary Case No: 01-10974 JCA) DQSB II, Inc. For Month Of May, 2002 Attach 2 No Receipts Or Disbursements Due To No Bank Or Investment Accounts 28-Jun-02 Concentration & Investment Account Statements Attachment 3 2:32 PM DQSB II, Inc. Summary Case No: 01-10974 (JCA) DQSB II, Inc. For Month Of May, 2002 Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 27-JUN-02 17:31:07 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: MAY-02 currency USD Company=60 (DELTA QUEEN SC II)

PTD-Actual 31-May-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 26,503.39 Reorganization expenses 0.00 --------- Total Other Expense/(Income) (26,503.39) --------- Net Pretax Income/(Loss) 26,503.39 Income Tax Expense 0.00 --------- Net Income/(Loss) 26,503.39 =========

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:46 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: MAY-02 currency USD Company=60 (DELTA QUEEN SC II)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 ---------- ---------- ASSETS Cash and Equivalent 0.00 0.00 Restricted Cash 0.00 0.00 Accounts Receivable 0.00 0.00 Inventories 0.00 0.00 Prepaid Expenses 0.00 0.00 Other Current Assets 0.00 0.00 ---------- ---------- Total Current Assets 0.00 0.00 Fixed Assets 0.00 0.00 Accumulated Depreciation 0.00 0.00 ---------- ---------- Net Fixed Assets 0.00 0.00 Net Goodwill 0.00 0.00 Intercompany Due To/From (22,497.32) (21,361.32) Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries 159,508.57 178,552.30 ---------- ---------- Total Other Assets 137,011.25 157,190.98 ---------- ---------- Total Assets 137,011.25 157,190.98 ========== ==========

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:46 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: MAY-02 currency USD Company=60 (DELTA QUEEN SC II)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 ---------- ---------- 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 (4,904.83) (4,904.83) ---------- ---------- Total Liabilities (4,904.83) (4,904.83) OTHER Liabilities Subject to Compromise 0.00 0.00 ---------- ---------- Total Other 0.00 0.00 OWNER'S EQUITY Common Stock 0.00 0.00 Add'l Paid In Capital 600,000.00 600,000.00 Current Net Income (Loss) (4,624.06) (181,334.98) Retained Earnings (453,459.86) (256,569.21) ---------- ---------- Total Owner's Equity 141,916.08 162,095.81 ---------- ---------- Total Liabilities & Equity 137,011.25 157,190.98 ========== ==========

DQSB II, Inc. ATTACHMENT 6 01-10974 (JCA) Summary List of Due To/ Due From Accounts For the Month Ended May 31, 2002

BEGINNING ENDING Affiliate Name Case Number Balance Debits Credits Balance American Classic Voyages Co. 01-10954 (22,836.06) -- -- (22,836.06) AMCV Cruise Operations, Inc. 01-10967 (2,330.40) -- -- (2,330.40) Great AQ Steamboat, L.L.C. 01-10960 919.60 -- -- 919.60 Great Pacific NW Cruise Line, L.L.C. 01-10977 339.49 -- -- 339.49 Great River Cruise Line, L.L.C. 01-10963 367.05 -- -- 367.05 Great Ocean Cruise Line, L.L.C. 01-10959 877.52 -- -- 877.52 Cape Cod Light, L.L.C. 01-10962 82.74 -- -- 82.74 Cape May Light, L.L.C. 01-10961 82.74 -- -- 82.74 ---------- ---- ---- ---------- (22,497.32) -- -- (22,497.32) ========== ==== ==== ==========

DQSB II, Inc. 01-10974 (JCA) Accounts Receivable Aging As of May 31, 2002 Attachment 7 Not Applicable DQSB II, Inc. 01-10974 (JCA) Accounts Payable Detail As of May 31, 2002 Attachment 8 Not Applicable DEBTOR: DQSB II, INC. CASE NUMBER: 01-10974 (JCA) PRELIMINARY MONTHLY OPERATING REPORT AS OF MAY 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO MAY 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. 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. EX-99.18 20 g77172exv99w18.txt GREAT HAWAIIAN CRUISE LINE, INC. MAY 2002 EXHIBIT 99.18 DEBTOR: GREAT HAWAIIAN CRUISE LINE, INC. CASE NUMBER: 01-10975 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ STEVE MOELLER - ------------------------------------ Steve Moeller Director, Accounting DEBTOR: GREAT HAWAIIAN CRUISE LINE, INC. CASE NUMBER: 01-10975 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report 28-Jun-02 Summary Of Bank And Investment Accounts Attachment 1 2:36 PM Great Hawaiian Cruise Line, Inc. Summary Case No: 01-10975 (JCA) UNAUDITED Great Hawaiian Cruise Line, Inc. For Month Of May, 2002

Balances -------------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 5/01/02 As Of 5/31/02 Included Included Reconciled - ------- ------------- ------------- ------------- ---------- ---------- No Bank Or Investment NA NA NA NA NA Accounts

28-Jun-02 Receipts & Disbursements Attachment 2 2:36 PM Great Hawaiian Cruise Line, Inc. Summary Case No: 01-10975 (JCA) Great Hawaiian Cruise Line For Month Of May, 2002 Attach 2 No Receipts Or Disbursements Due To No Bank Or Investment Accounts 28-Jun-02 Concentration & Investment Account Statements Attachment 3 2:36 PM Great Hawaiian Cruise Line, Inc. Summary Case No: 01-10975 (JCA) Great Hawaiian Cruise Line For Month Of May, 2002 Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 27-JUN-02 16:30:37 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: MAY-02 currency USD Company=50 (GREAT HAWAII CRUISE LN)

PTD-Actual 31-May-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 (4,191.38) Reorganization expenses 0.00 ---------- Total Other Expense/(Income) 4,191.38 ---------- Net Pretax Income/(Loss) (4,191.38) Income Tax Expense 0.00 ---------- Net Income/(Loss) (4,191.38) ==========

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:48 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: MAY-02 currency USD Company=50 (GREAT HAWAII CRUISE LN)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 -------------- -------------- ASSETS Cash and Equivalent 0.00 0.00 Restricted Cash 0.00 0.00 Accounts Receivable 0.00 0.00 Inventories 0.00 0.00 Prepaid Expenses 0.00 0.00 Other Current Assets 0.00 0.00 -------------- -------------- Total Current Assets 0.00 0.00 Fixed Assets 0.00 0.00 Accumulated Depreciation 0.00 0.00 -------------- -------------- Net Fixed Assets 0.00 0.00 Net Goodwill 0.00 0.00 Intercompany Due To/From (24,595,692.37) (24,608,201.70) Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries 40,586,257.54 41,532,108.18 -------------- -------------- Total Other Assets 15,990,565.17 16,923,906.48 -------------- -------------- Total Assets 15,990,565.17 16,923,906.48 ============== ==============

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:48 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: MAY-02 currency USD Company=50 (GREAT HAWAII CRUISE LN)

YTD-Actual YTD-Actual 31-May-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 (1,816,230.95) (1,816,230.95) -------------- -------------- Total Liabilities (1,816,230.95) (1,816,230.95) OTHER Liabilities Subject to Compromise 0.00 0.00 -------------- -------------- Total Other 0.00 0.00 OWNER'S EQUITY Common Stock 8,440.25 8,440.25 Add'l Paid In Capital 76,531,536.87 76,531,536.87 Current Net Income (Loss) (1,804,584.47) (11,777,334.92) Retained Earnings (56,928,596.53) (46,022,504.77) -------------- -------------- Total Owner's Equity 17,806,796.12 18,740,137.43 -------------- -------------- Total Liabilities & Equity 15,990,565.17 16,923,906.48 ============== ==============

GREAT HAWAIIAN CRUISE LINE, LLC ATTACHMENT 6 01-10975 (JCA) SUMMARY LIST OF DUE TO/DUE FROM ACCOUNTS FOR THE MONTH ENDED MAY 31, 2002

BEGINNING ENDING AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (3,571,229.75) -- -- (3,571,229.75) AMCV Holdings, Inc. 01-10973 181,362.22 -- 585.00 180,777.22 AMCV Cruise Operations, Inc. 01-10967 22,292.97 -- -- 22,292.97 The Delta Queen Steamboat Co. 01-10970 7,057.02 -- -- 7,057.02 Great River Cruise Line, L.L.C. 01-10963 60.73 -- -- 60.73 Great Ocean Cruise Line, L.L.C. 01-10959 37,394.43 -- -- 37,394.43 Cape May Light, L.L.C. 01-10961 8,411.75 -- -- 8,411.75 Oceanic Ship Co. N/A (1,803.12) -- -- (1,803.12) Great Hawaiian Properties Corporation 01-10971 3,599,435.73 600.00 -- 3,600,035.73 American Hawaii Properties Corporation 01-10976 (179,633.39) -- 15.00 (179,648.39) Great Independence Ship Co. 01-10969 (24,699,040.96) -- -- (24,699,040.96) --------------------------------------------------------------------- (24,595,692.37) 600.00 600.00 (24,595,692.37) =====================================================================

Great Hawaiian Cruise Line, Inc. 01-10975 (JCA) Accounts Receivable Aging As of May 31, 2002 Attachment 7 Not Applicable Great Hawaiian Cruise Line, Inc. 01-10975 (JCA) Accounts Payable Detail As of May 31, 2002 Attachment 8 Not Applicable DEBTOR: GREAT HAWAIIAN CRUISE LINE, INC. CASE NUMBER: 01-10975 (JCA) PRELIMINARY MONTHLY OPERATING REPORT AS OF MAY 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO MAY 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. 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. EX-99.19 21 g77172exv99w19.txt AMERICAN HAWAII PROPERTIES CORPORATION MAY 2002 EXHIBIT 99.19 DEBTOR: AMERICAN HAWAII PROPERTIES CORPORATION CASE NUMBER: 01-10976 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ STEVE MOELLER - ------------------------------------ Steve Moeller Director, Accounting DEBTOR: AMERICAN HAWAII PROPERTIES CORPORATION CASE NUMBER: 01-10976 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report 28-Jun-02 Summary Of Bank, Investment & Petty Cash Accounts Attachment 1 2:38 PM American Hawaii Properties Corporation Summary Case No: 01-10976 (JCA) UNAUDITED American Hawaii Properties Corp For Month Of May, 2002

Balances --------------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 5/01/02 As Of 5/31/02 Included Included Reconciled - ------- ------------- ------------- ------------- ---------- ---------- AHC - Honolulu Payroll 0.00 0.00 No - No - No - Bank One Account Account Account Account # - 552-0110673379 Closed Closed Closed American Hawaii Pro DBA AHC 0.00 0.00 No - No - No - Bank of Hawaii Account Account Account Account # - 0001-037773 Closed Closed Closed Honolulu Office 0.00 0.00 No - Not A Bank No - Petty Cash No Activity Account No Activity

28-Jun-02 Receipts & Disbursements Attachment 2 2:38 PM American Hawaii Properties Corp Summary Case No: 01-10976 (JCA) American Hawaii Properties Corp For Month Of May, 2002 Attach 2 No Receipts Or Disbursements Due To All Accounts Closed 28-Jun-02 Concentration & Investment Account Statements Attachment 3 2:38 PM American Hawaii Properties Corp Summary Case No: 01-10976 (JCA) American Hawaii Properties Corp For Month Of May, 2002 Attach 23 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 27-JUN-02 16:30:38 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: MAY-02 currency USD Company=52 (AHC - HONOLULU OFFICE)

PTD-Actual 31-May-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 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: 27-JUN-02 16:29:49 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: MAY-02 currency USD Company=52 (AHC - HONOLULU OFFICE)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 -------------- -------------- ASSETS Cash and Equivalent (15.00) 175,430.72 Restricted Cash 0.00 0.00 Accounts Receivable 0.00 1,334.40 Inventories 0.00 1,214,962.00 Prepaid Expenses 0.00 7,240.63 Other Current Assets 0.00 0.00 -------------- -------------- Total Current Assets (15.00) 1,398,967.75 Fixed Assets 0.00 1,553,888.60 Accumulated Depreciation 0.00 (591,442.88) --------------- --------------- Net Fixed Assets 0.00 962,445.72 Net Goodwill 0.00 0.00 Intercompany Due To/From (2,977,773.68) (3,743,572.98) Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries 0.00 0.00 --------------- --------------- Total Other Assets (2,977,773.68) (3,743,572.98) --------------- --------------- Total Assets (2,977,788.68) (1,382,159.51) ============== ==============

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:49 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: MAY-02 currency USD Company=52 (AHC - HONOLULU OFFICE)

YTD-Actual YTD-Actual 31-May-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 0.00 0.00 --------------- --------------- Total Liabilities 0.00 0.00 OTHER Liabilities Subject to Compromise 0.00 0.00 --------------- --------------- Total Other 0.00 0.00 OWNER'S EQUITY Common Stock 1,000.00 1,000.00 Add'l Paid In Capital 0.00 0.00 Current Net Income (Loss) (1,441,781.41) (1,383,800.96) Retained Earnings (1,537,007.27) 641.45 --------------- --------------- Total Owner's Equity (2,977,788.68) (1,382,159.51) --------------- --------------- Total Liabilities & Equity (2,977,788.68) (1,382,159.51) =============== ===============

American Hawaii Properties Corporation ATTACHMENT 6 Summary List of Due To/Due From Accounts 01-10976(JCA) For the Month Ended May 31, 2002 BEGINNING ENDING AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (2,485,515.74) -- -- (2,485,515.74) AMCV Cruise Operations, Inc. 01-10967 (5,188,990.02) -- -- (5,188,990.02) The Delta Queen Steamboat Co. 01-10970 (43,550.29) -- -- (43,550.29) Great AQ Steamboat, L.L.C. 01-10960 1,496.24 -- -- 1,496.24 Great River Cruise Line, L.L.C. 01-10963 (9,562.38) -- -- (9,562.38) Cruise America Travel, Incorporated 01-10966 (1,126.92) -- -- (1,126.92) Cape Cod Light, L.L.C. 01-10962 31,777.30 -- -- 31,777.30 Project America, Inc. N/A 1,297,351.35 -- -- 1,297,351.35 Oceanic Ship Co. N/A 3,724,194.25 -- -- 3,724,194.25 Great Hawaiian Cruise Line, Inc. 01-10975 179,633.39 15.00 -- 179,648.39 Great Hawaiian Properties Corporation 01-10971 62,430.01 -- -- 62,430.01 Great Independence Ship Co. 01-10969 (542,250.76) -- -- (542,250.76) CAT II, Inc. 01-10968 (3,675.11) -- -- (3,675.11) ----------------------------------------------------------------------- (2,977,788.68) 15.00 -- (2,977,773.68) =======================================================================

American Hawaii Properties Corporation 01-10976 (JCA) Accounts Receivable Aging As of May 31, 2002 Attachment 7 Not Applicable American Hawaii Properties Corporation 01-10976 (JCA) Accounts Payable Detail As of May 31, 2002 Attachment 8 Not Applicable DEBTOR: AMERICAN HAWAII PROPERTIES CORPORATION CASE NUMBER: 01-10976 (JCA) PRELIMINARY MONTHLY OPERATING REPORT AS OF MAY 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO MAY 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. EX-99.20 22 g77172exv99w20.txt GREAT PACIFIC NW CRUISE LINE, L.L.C. MAY 2002 EXHIBIT 99.20 DEBTOR: GREAT PACIFIC NW CRUISE LINE, L.L.C. CASE NUMBER: 01-10977 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ STEVE MOELLER - ----------------------- Steve Moeller Director, Accounting DEBTOR: GREAT PACIFIC NW CRUISE LINE, L.L.C. CASE NUMBER: 01-10977 (JCA) MONTHLY OPERATING REPORT AS OF MAY 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 May Monthly Operating Report SUMMARY OF BANK, INVESTMENT & PETTY CASH ACCOUNTS ATTACHMENT 1 GREAT PACIFIC NW CRUISE LINE, L.L.C. CASE NO: 01-10977 (JCA) UNAUDITED FOR MONTH OF MAY, 2002 SUMMARY GREAT PACIFIC NW CRUISE LINE, LLC

BALANCES --------------------------------- RECEIPTS & BANK OPENING CLOSING DISBURSEMENTS STATEMENTS ACCOUNT ACCOUNT AS OF 5/01/02 AS OF 5/31/02 INCLUDED INCLUDED RECONCILED - ------- ------------- ------------- ------------- ---------- ---------- Great Pacific NW Cruise Line 0.00 0.00 No - No - No - Payroll Account Account Account U.S. Bank Closed Closed Closed Account # - 153390417191 Great Pacific NW Cruise Line 0.00 0.00 No - No - No - Steamer Account Account Account U.S. Bank Closed Closed Closed Account # - 153390417191 Great Pacific NW Cruise Line 0.00 0.00 No - No - Not No - Columbia Queen Petty Cash No Activity Concentration No Activity Account

RECEIPTS & DISBURSEMENTS ATTACHMENT 2 GREAT PACIFIC NW CRUISE LINE, L.L.C. CASE NO: 01-10977 (JCA) FOR MONTH OF MAY, 2002 SUMMARY GREAT PACIFIC NW CRUISE LINE, LLC No Receipts Or Disbursements Due To All Accounts Closed CONCENTRATION & INVESTMENT ACCOUNT STATEMENTS ATTACHMENT 3 GREAT PACIFIC NW CRUISE LINE, L.L.C. CASE NO: 01-10977 (JCA) FOR MONTH OF MAY, 2002 SUMMARY GREAT PACIFIC NW CRUISE LINE, LLC No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 27-JUN-02 16:30:38 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: MAY-02 currency USD Company=24 (COLUMBIA QUEEN)

PTD-Actual 31-May-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 10,931.54 Layup/Drydock Expense 0.00 Vessel Insurance 6,418.44 ----------- Total Operating Expenses 17,349.98 ----------- Gross Profit (17,349.98) SG&A Expenses Sales & Marketing 0.00 Start-Up Costs 0.00 ----------- Total SG&A Expenses 0.00 ----------- EBITDA (17,349.98) Depreciation 0.00 ----------- Operating Income (17,349.98) Other Expense/(Income) Interest Income 0.00 Interest Expense 9,013.14 Equity in Earnings for Sub 0.00 Reorganization expenses 0.00 ----------- Total Other Expense/(Income) 9,013.14 ----------- Net Pretax Income/(Loss) (26,363.12) Income Tax Expense 0.00 ----------- Net Income/(Loss) (26,363.12) ===========

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:52 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: MAY-02 currency USD Company=24 (COLUMBIA QUEEN)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 -------------- -------------- ASSETS Cash and Equivalent 0.00 31,623.21 Restricted Cash 0.00 0.00 Accounts Receivable 2,632.21 11,425.61 Inventories 173,958.61 199,562.38 Prepaid Expenses 0.00 2,800.00 Other Current Assets 0.00 0.00 -------------- -------------- Total Current Assets 176,590.82 245,411.20 Fixed Assets 45,093,524.95 45,093,524.95 Accumulated Depreciation (1,870,234.50) (1,870,234.50) -------------- -------------- Net Fixed Assets 43,223,290.45 43,223,290.45 Net Goodwill 0.00 0.00 Intercompany Due To/From (10,092,169.65) (9,983,225.62) Net Deferred Financing Fees 2,478,614.22 2,545,011.02 Net Investment in Subsidiaries 0.00 0.00 -------------- -------------- Total Other Assets (7,613,555.43) (7,438,214.60) -------------- -------------- Total Assets 35,786,325.84 36,030,487.05 ============== ==============

AMCV US SET OF BOOKS Date: 27-JUN-02 16:29:52 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: MAY-02 currency USD Company=24 (COLUMBIA QUEEN)

YTD-Actual YTD-Actual 31-May-02 22-Oct-01 -------------- -------------- LIABILITIES Accounts Payable 235.00 180.00 Accrued Liabilities 330,121.68 331,444.68 Deposits 0.00 0.00 -------------- -------------- Total Current Liabilities 330,356.68 331,624.68 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 -------------- -------------- Total Liabilities 330,356.68 331,624.68 OTHER Liabilities Subject to Compromise 37,788,314.80 37,792,814.64 -------------- -------------- Total Other 37,788,314.80 37,792,814.64 OWNER'S EQUITY Common Stock 0.00 0.00 Add'l Paid In Capital 0.00 0.00 Current Net Income (Loss) (147,439.83) 18,578.51 Retained Earnings (2,184,905.81) (2,112,530.78) -------------- -------------- Total Owner's Equity (2,332,345.64) (2,093,952.27) -------------- -------------- Total Liabilities & Equity 35,786,325.84 36,030,487.05 ============== ==============

Great Pacific NW Cruise Line, LLC ATTACHMENT 6 01-10977 (JCA) Summary List of Due To/Due From Accounts For the Month Ended May 31, 2002

BEGINNING ENDING AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 15,481,864.66 -- 3,410.46 15,478,454.20 AMCV Cruise Operations, Inc. 01-10967 (9,424,393.70) -- 4,761.08 (9,429,154.78) The Delta Queen Steamboat Co. 01-10970 8,422,821.07 -- 6,418.44 8,416,402.63 DQSB II, Inc. 01-10974 (339.49) -- -- (339.49) Great AQ Steamboat, L.L.C 01-10960 (5,552.79) -- -- (5,552.79) Great River Cruise Line, L.L.C 01-10963 (2,052.08) -- 2,760.00 (4,812.08) Great Ocean Cruise Line, L.L.C 01-10959 (10,219.55) 1,420.00 1,420.00 (10,219.55) Cruise America Travel, Incorporated 01-10966 (674,733.24) -- -- (674,733.24) Delta Queen Coastal Voyages, L.L.C 01-10964 118,887.26 -- -- 118,887.26 Cape May Light, L.L.C 01-10961 5,380.67 -- -- 5,380.67 Project America, Inc. N/A (27,500.00) -- -- (27,500.00) Oceanic Ship Co. N/A 1,701.33 -- -- 1,701.33 Project America Ship I, Inc. N/A 291,567.65 -- -- 291,567.65 Ocean Development Co. 01-10972 (24,185,738.20) -- -- (24,185,738.20) Great Hawaiian Properties Corporation 01-10971 (66,513.26) -- -- (66,513.26) -------------- -------- --------- -------------- (10,074,819.67) 1,420.00 18,769.98 (10,092,169.65) ============== ======== ========= ==============

GREAT PACIFIC NW CRUISE LINE, L.L.C. CASE #: 01-10977 (EIK) ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

DETAIL: 0-30 DAYS 31-60 DAYS 61-90 DAYS 91+ DAYS TOTAL --------- ---------- ---------- -------- -------- Paymentech Credit Card Processor 2,632.21 2,632.21 American Express Credit Card Processor 0.00 Discover Credit Card Processor 0.00 Diners Credit Card Processor 0.00 Travel Agents 0.00 --------- ---------- ---------- -------- -------- Total 0.00 0.00 0.00 2,632.21 2,632.21 ========= ========== ========== ======== ========

ATTACHMENT # 7 COLUMBIA QUEEN AP-STEAMER CHECKS 24-000-221300-00000 MAY-02 OUTSTANDING CHECKS: 1566 K Tinnin (American Express) 180.00 1611 Charles Saporiti 55.00 ------- TOTAL PER G/L: 235.00 ======= ATTACHMENT # 8 DEBTOR: GREAT PACIFIC NW CRUISE LINE, L.L.C. CASE NUMBER: 01-10977 (JCA) PRELIMINARY MONTHLY OPERATING REPORT AS OF MAY 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO MAY 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 now been performed internally for food and beverage. An evaluation of fuel inventory pricing has been performed and carrying values have been adjusted accordingly. Other 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. The Debtor ceased operating its primary asset, the Columbia Queen, on October 22, 2001. In connection therewith, the Debtor ceased accruing for its next scheduled lay-up, ceased recording depreciation, and has not adjusted related lay-up accrual or asset values pending the outcome of Chapter 11 proceedings. -----END PRIVACY-ENHANCED MESSAGE-----

EX-99.1

                                                                   EXHIBIT 99.1


DEBTOR:  AMERICAN CLASSIC VOYAGES CO.              CASE NUMBER:  01-10954 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.


/s/ STEVE MOELLER
- ----------------------
Steve Moeller
Director, Accounting





DEBTOR:  AMERICAN CLASSIC VOYAGES CO.              CASE NUMBER:  01-10954 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly Operating Report





28-Jun-02           Summary Of Bank And Investment Accounts        Attachment 1
2:46 PM                 American Classic Voyages Co
Summary                   Case No: 01-10954 (JCA)                     UNAUDITED
American Classic          For Month Of May, 2002
Voyages Co




                                                Balances
                                      -------------------------------       Receipts &         Bank
                                         Opening          Closing         Disbursements      Statements      Account
Account                               As Of 5/01/02     As Of 5/31/02       Included          Included      Reconciled
- -------                               -------------     -------------     -------------      ----------     ----------

                                                                                             
AMCV Deferred Compensation                    0.00               0.00        No -               No -          No -
Bank One                                                                     Account            Account       Account
Account # - 1590101554                                                       Closed             Closed        Closed

AMCV Dental Benefits                          0.00               0.00        No -               No -          No -
Chase (JP Morgan Chase & Co)                                                 Account            Account       Account
Account # - 002-2-426530                                                     Closed             Closed        Closed

AMCV Employee Stock Plan                      0.00               0.00        No -               No -          No -
LaSalle Bank                                                                 Account            Account       Account
Account # - 5800015140                                                       Closed             Closed        Closed

AMCV Insurance                                0.00               0.00        No -               No -          No -
LaSalle Bank                                                                 Account            Account       Account
Account # - 5800021411                                                       Closed             Closed        Closed

AMCV Medical Benefits                         0.00           5,020.40        Yes                No - Not      Yes
Chase (JP Morgan Chase & Co)                                                                    Concentration
Account # - 002-2-426522                                                                        Account

American Classic Voyages Co                   0.00               0.00        No -               No -          No -
Master Cash                                                                  Account            Account       Account
LaSalle Bank                                                                 Closed             Closed        Closed
Account # - 2355464

American Classic Voyages Co                   0.00               0.00        No -               No -          No -
Payroll                                                                      Account            Account       Account
LaSalle Bank                                                                 Closed             Closed        Closed
Account # - 2369368

American Classic Voyages Co                   0.00               0.00        No -               No -          No -
PAC                                                                          Account            Account       Account
LaSalle Bank                                                                 Closed             Closed        Closed
Account # - 2355882

American Classic Voyages Co           4,549,322.15      36,351,784.01        Yes                Yes           Yes
Investment Account
Credit Suisse Asset Management
Account # - 247003452

American Classic Voyages Co                   0.00               0.00        No -               No -          No -
Investment Account                                                           Account            Account       Account
Goldman Sachs & Co.                                                          Closed             Closed        Closed
Account # - 020-53613-2

American Classic Voyages Co                   0.00               0.00        No -               No -          No -
Investment Account                                                           Account            Account       Account
Merrill Lynch                                                                Closed             Closed        Closed
Account # - 318-3271750-7

American Classic Voyages Co                   0.00               0.00        No -               No -          No -
Investment Account                                                           Account            Account       Account
Conifer Securities                                                           Closed             Closed        Closed
Account # - 330-50683 1-8






28-Jun-02                    Receipts & Disbursements            Attachment 2-1
3:59 PM                     American Classic Voyages
R&D - Chase -                Case No: 01-10954 (JCA)                  UNAUDITED
AMCV Med Ben                         Chase
                             AMCV Medical Benefits
                            Account # - 002-2-426522
                              1 May 02 - 31 May 02


                                        
Opening Balance - 1 May 02
                                     0.00


Receipts

                                   152.93     From The Delta Queen Steamboat Company
                                              - Hibernia - DQ Master Cash Account (812-395-335)
                                 5,020.40     From United Healthcare (Reversal)
                                 --------


                                 5,173.33     Total Receipts


Disbursements

                                  (152.93)    To United Healthcare
                                 --------


                                  (152.93)    Total Disbursements

Closing Balance - 31 May 02
                                 5,020.40






28-Jun-02                    Receipts & Disbursements            Attachment 2-2
2:53 PM                      American Classic Voyages
R&D - Credit                  Case No: 01-10954 (JCA)                 UNAUDITED
Suisse Investment                Credit Suisse
Account                       Investment Account
                             Account # - 247003452
                              1 May 02 - 31 May 02


                                                    
Opening Balance - 1 May 02
                                 4,549,322.15


Receipts

                                33,847,410.87             Sale Proceeds

                                     5,050.99             Interest Earned
                                -------------


                                33,852,461.86             Total Receipts


Disbursements

                                (2,050,000.00)            To The Delta Queen Steamboat Company -
                                                          Hibernia - DQ Master Cash Account (812-395-335)
                                -------------


                                (2,050,000.00)            Total Disbursements


Closing Balance - 31 May 02
                                36,351,784.01







AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:19:40
INCOME STATEMENT - ATTACHMENT 4                        Page:   1
Current Period: MAY-02

currency USD
Company=10 (AMCV)




                                          PTD-Actual
                                          31-May-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                351,027.10
Sales & Marketing                               0.00
Start-Up Costs                                  0.00
                                        ------------
Total SG&A Expenses                       351,027.10

                                        ------------
EBITDA                                   (351,027.10)

Depreciation                               13,928.82

                                        ------------
Operating Income                         (364,955.92)

Other Expense/(Income)
Interest Income                            (6,317.19)
Interest Expense                           21,683.13
Equity in Earnings for Sub             (7,819,454.62)
Reorganization expenses                   576,546.09
                                        ------------
Total Other Expense/(Income)            8,411,366.65

                                        ------------
Net Pretax Income/(Loss)               (8,776,322.57)

Income Tax Expense                              0.00

                                        ------------
Net Income/(Loss)                      (8,776,322.57)
                                        ============






AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:06
BALANCE SHEET - ATTACHMENT 5                           Page:   1
Current Period: MAY-02

currency USD
Company=10 (AMCV)




                                            YTD-Actual                 YTD-Actual
                                             31-May-02                  19-Oct-01
                                          --------------             --------------

                                                               
ASSETS

Cash and Equivalent                        36,351,783.16              10,343,248.25

Restricted Cash                                     0.00                       0.00

Marketable Securities                               0.00                     337.15

Accounts Receivable                         3,678,916.74               3,678,916.74

Inventories                                         0.00                       0.00

Prepaid Expenses                              126,493.48                       0.00

Other Current Assets                                0.00                       0.00

                                          --------------             --------------
Total Current Assets                       40,157,193.38              14,022,502.14


Fixed Assets                                4,979,716.68               4,979,716.68

Accumulated Depreciation                   (4,602,341.22)             (4,497,369.91)

                                          --------------             --------------
Net Fixed Assets                              377,375.46                 482,346.77


Net Goodwill                                   79,265.96                  81,420.64

Intercompany Due To/From                  236,656,664.11             265,726,906.60

Net Deferred Financing Fees                 3,251,377.18               3,408,954.89

Net Investment in Subsidiaries             28,407,072.75              48,551,297.73

Other Non Current Assets                            0.00                 109,986.54

                                          --------------             --------------
Total Other Assets                        268,394,380.00             317,878,566.40

                                          --------------             --------------
Total Assets                              308,928,948.84             332,383,415.31
                                          ==============             ==============






AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:06
BALANCE SHEET - ATTACHMENT 5                           Page:   2
Current Period: MAY-02

currency USD
Company=10 (AMCV)




                                               YTD-Actual                 YTD-Actual
                                               31-May-02                   19-Oct-01
                                             --------------             --------------

                                                                  
LIABILITIES

Accounts Payable                                       0.00                       0.00

Accrued Liabilities                            1,650,228.36               1,089,864.63

Deposits                                               0.00                       0.00

                                             --------------             --------------
Total Current Liabilities                      1,650,228.36               1,089,864.63


Long Term Debt                                         0.00                       0.00

Other Long Term Liabilities                   (3,221,982.41)             (3,434,093.96)

                                             --------------             --------------
Total Liabilities                             (1,571,754.05)             (2,344,229.33)


OTHER

Liabilities Subject to Compromise            200,418,510.55             200,418,510.55

                                             --------------             --------------
Total Other                                  200,418,510.55             200,418,510.55


OWNER'S EQUITY

Common Stock                                     211,013.08                 211,013.08

Add'l Paid In Capital                        204,438,037.35             204,438,037.35

Current Net Income (Loss)                    (20,546,391.09)            (40,694,620.74)

Retained Earnings                            (74,020,467.00)            (29,645,295.60)

                                             --------------             --------------
Total Owner's Equity                         110,082,192.34             134,309,134.09

                                             --------------             --------------
Total Liabilities & Equity                   308,928,948.84             332,383,415.31
                                             ==============             ==============






American Classics                 ATTACHMENT 6                   01-10954 (JCA)
Voyages Co.                   Summary List of Due To/
                                Due From Accounts
                         For the Month Ended May 31, 2002




                                                                BEGINNING                                              ENDING
AFFILIATE NAME                               CASE NUMBER         BALANCE           DEBITS           CREDITS           BALANCE
                                                                                                   
AMCV Cruise Operations, Inc.                 01-10967         80,160,257.79     3,204,520.62    34,670,835.12      48,693,943.29
The Delta Queen Steamboat Co.                01-10970          6,324,564.18               --        22,302.71       6,302,261.47
DQSB II, Inc.                                01-10974             22,836.06               --               --          22,836.06
Great AQ Steamboat, L.L.C.                   01-10960        (22,408,601.79)        1,606.50               --     (22,406,995.29)
Great Pacific NW Cruise Line, L.L.C.         01-10977        (15,481,864.66)        3,410.46               --     (15,478,454.20)
Great River Cruise Line, L.L.C.              01-10963          6,701,911.57           897.51               --       6,702,809.08
Great Ocean Cruise Line, L.L.C.              01-10959        (29,630,103.62)       56,681.49               --     (29,573,422.13)
Cruise America Travel, Incorporated          01-10966            103,377.71               --               --         103,377.71
Delta Queen Coastal Voyages, L.L.C.          01-10964            934,299.38               --               --         934,299.38
Cape Cod Light, L.L.C.                       01-10962         (1,670,131.78)              --               --      (1,670,131.78)
Cape May Light, L.L.C.                       01-10961           (657,443.89)           72.92               --        (657,370.97)
Project America, Inc.                        N/A             (29,154,390.86)              --               --     (29,154,390.86)
Oceanic Ship Co.                             N/A              41,570,650.91               --         1,680.00      41,568,970.91
Project America Ship I, Inc.                 N/A               1,793,166.15               --               --       1,793,166.15
Project America Ship II, Inc.                N/A              27,241,846.63               --               --      27,241,846.63
Ocean Development Co.                        01-10972        206,379,952.56               --               --     206,379,952.56
Great Hawaiian Cruise Line, Inc.             01-10975          3,571,229.75               --               --       3,571,229.75
Great Hawaiian Properties Corporation        01-10971        (51,110,970.59)              --               --     (51,110,970.59)
American Hawaii Properties Corporation       01-10976          2,485,515.74               --               --       2,485,515.74
Great Independence Ship Co.                  01-10969         24,948,774.58               --               --      24,948,774.58
CAT II, Inc.                                 01-10968         15,959,416.62               --               --      15,959,416.62
                                                             --------------     ------------    -------------     --------------
                                                             268,084,292.44     3,267,189.50    34,694,817.83     236,656,664.11
                                                             ==============     ============    =============     ==============






                          American Classic Voyages Co.
                                 01-10954 (JCA)




                           Accounts Receivable Aging
                               As of May 31, 2002







                                  Attachment 7


                                 Not Applicable





                          American Classic Voyages Co.
                                 01-10954 (JCA)




                            Accounts Payable Detail
                               As of May 31, 2002







                                  Attachment 8


                                 Not Applicable





DEBTOR:  AMERICAN CLASSIC VOYAGES CO.              CASE NUMBER:  01-10954 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 31, 2002
                                      AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                     NOTES TO MAY 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.       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.

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.       The Debtor has ceased recording accruals for distributions on its
         Trust Preferred securities. Historically, these accruals for these
         distributions were charged to "interest expense and other financing
         costs."

4.       Accounts Receivable represents pre-petition total hold-backs by
         Paymentech, Inc., the Debtor's credit card processing agent against
         pre-petition customer deposits. Detail for such hold-backs has not
         been received from Paymentech, Inc.

5.       The cash proceeds of $33.8 million from sale of assets by some of the
         Debtors were received on May 31, 2002. The proceeds will be
         transferred to the appropriate Debtor after final calculation of all
         closing costs and declaration of the purchase price allocation by the
         purchaser.

EX-99.2

                                                                   EXHIBIT 99.2


DEBTOR:  GREAT OCEAN CRUISE LINE, L.L.C.           CASE NUMBER:  01-10959 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.


/s/ STEVE MOELLER
- -----------------------
Steve Moeller
Director, Accounting





DEBTOR:  GREAT OCEAN CRUISE LINE, L.L.C.           CASE NUMBER:  01-10959 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly Operating Report





7-Jun-02                 Summary Of Bank, Investment &             Attachment 1
12:18 PM                      Petty Cash Accounts
Summary                  Great Ocean Cruise Line, L.L.C.              UNAUDITED
Great Ocean                 Case No: 01-10959 (JCA)
Cruise Line, LLC            For Month Of May, 2002




                                            Balances
                                 ------------------------------        Receipts &            Bank
                                    Opening         Closing          Disbursements         Statements        Account
Account                          As Of 5/01/02    As Of 5/31/02        Included             Included       Reconciled
- -------                          -------------    -------------      -------------         ----------      ----------
                                                                                            
Mississippi Queen Steamer         100,000.00       48,196.81             Yes              No - Not           Yes
Hibernia                                                                                  Concentration
Account # - 812-502-719                                                                   Account

Mississippi Queen                       0.00            0.00             Yes              Not A Bank         Yes
Petty Cash                                                                                Account





28-Jun-02                    Receipts & Disbursements            Attachment 2-1
4:15 PM                 Great Ocean Cruise Line, L.L.C.
R&D - Hibernia -            Case No: 01-10959 (JCA)                   UNAUDITED
MQ Steamer                         Hibernia
                       Mississippi Queen Steamer Account
                            Account # - 812-502-719
                              1 May 02 - 31 May 02


                                                
Opening Balance - 1 May 02
                               100,000.00


Receipts

                                75,000.00             From The Delta Queen Steamboat Company -
                                                      Hibernia - Master Cash Account (812-395-335)


                               ----------
                                75,000.00             Total Receipts


Disbursements




                               ----------
                                     0.00             Total Disbursements (* See Footnote)



Closing Balance - 31 May 02
                                48,196.81




*        $126,803.19 Of Disbursements Not Reflected In Disbursements Above Due
         To Being Reimbursed By Buyer Of Assets At Closing.





28-Jun-02                    Receipts & Disbursements            Attachment 2-2
1:01 PM                  Great Ocean Cruise Line, L.L.C.
R&D - MQ - Petty Cash        Case No: 01-10959 (JCA)                  UNAUDITED
                               Mississippi Queen
                                   Petty Cash
                                 Account # - NA
                              1 May 02 - 31 May 02


                                               
Opening Balance - 1 May 02
                                      0.00


Receipts

                                    210,000.00       From The Delta Queen Steamboat Company -
                                                     Hibernia - Master Cash Account (812-395-335)


                                    ----------
                                    210,000.00       Total Receipts


Disbursements




                                    ----------
                                          0.00       Total Disbursements (* See Footnote)



Closing Balance - 31 May 02
                                         0.00




*        $210,000 Of Disbursements Not Reflected In Disbursements Above Due To
         Being Reimbursed By Buyer Of Assets At Closing.





7-Jun-02                      Concentration & Investment           Attachment 3
12:31 PM                          Account Statements
Summary                    Great Ocean Cruise Line, L.L.C.
Great Ocean                    Case No: 01-10959 (JCA)
Cruise Line, LLC               For Month Of May, 2002
Attach 3


          No Statements Due To No Concentration Or Investment Accounts





AMCV US SET OF BOOKS                                   Date: 27-JUN-02 17:31:03
INCOME STATEMENT - ATTACHMENT 4                        Page:   1
Current Period: MAY-02

currency USD
Company=21 (MISSISSIPPI QUEEN)




                                         PTD-Actual
                                         31-May-02
                                        ------------

                                     
Revenue
Gross Revenue                              (1,272.25)
Allowances                                115,961.33
                                        ------------
Net Revenue                               114,689.08

Operating Expenses
Air                                             0.00
Hotel                                           0.00
Commissions                                     0.00
Onboard Expenses                           43,203.92
Passenger Expenses                          2,961.60
Vessel Expenses                           (32,925.21)
Layup/Drydock Expense                           0.00
Vessel Insurance                           13,090.10
                                        ------------
Total Operating Expenses                   26,330.41
                                        ------------
Gross Profit                               88,358.67

SG&A Expenses
Sales & Marketing                               0.00
Start-Up Costs                            289,847.84
                                        ------------
Total SG&A Expenses                       289,847.84
                                        ------------
EBITDA                                   (201,489.17)

Depreciation                                    0.00
                                        ------------
Operating Income                         (201,489.17)

Other Expense/(Income)
Interest Income                                 0.00
Equity in Earnings for Sub                      0.00
Reorganization expenses                 5,643,435.79
                                        ------------
Total Other Expense/(Income)            5,643,435.79
                                        ------------
Net Pretax Income/(Loss)               (5,844,924.96)

Income Tax Expense                              0.00
                                        ------------
Net Income/(Loss)                      (5,844,924.96)
                                        ============






AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:13
BALANCE SHEET - ATTACHMENT 5                           Page:   1
Current Period: MAY-02

currency USD
Company=21 (MISSISSIPPI QUEEN)




                                               YTD-Actual                YTD-Actual
                                               31-May-02                 22-Oct-01
                                             -------------             -------------

                                                                 
ASSETS

Cash and Equivalent                              31,878.22                 91,427.94

Restricted Cash                                       0.00                      0.00

Accounts Receivable                              27,274.85                 61,448.42

Inventories                                           0.00                387,173.50

Prepaid Expenses                                      0.00                  9,438.70

Other Current Assets                                  0.00                (14,555.00)

                                             -------------             -------------
Total Current Assets                             59,153.07                534,933.56


Fixed Assets                                          0.00             32,530,486.54

Accumulated Depreciation                              0.00            (22,994,750.57)

                                             -------------             -------------
Net Fixed Assets                                      0.00              9,535,735.97


Net Goodwill                                          0.00                      0.00

Intercompany Due To/From                     21,754,996.22             19,836,574.32

Net Deferred Financing Fees                           0.00                      0.00

Net Investment in Subsidiaries                        0.00                      0.00

                                             -------------             -------------
Total Other Assets                           21,754,996.22             19,836,574.32

                                             -------------             -------------
Total Assets                                 21,814,149.29             29,907,243.85
                                             =============             =============




AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:13
BALANCE SHEET - ATTACHMENT 5                           Page:   2
Current Period: MAY-02

currency USD
Company=21 (MISSISSIPPI QUEEN)




                                               YTD-Actual               YTD-Actual
                                               31-May-02                 22-Oct-01
                                             -------------             -------------

                                                                 
LIABILITIES

Accounts Payable                                  1,826.90                  9,423.11

Accrued Liabilities                                   0.00                935,232.90

Deposits                                              0.00                      0.00

                                             -------------             -------------
Total Current Liabilities                         1,826.90                944,656.01


Long Term Debt                                        0.00                      0.00

Other Long Term Liabilities                           0.00                      0.00

                                             -------------             -------------
Total Liabilities                                 1,826.90                944,656.01


OTHER

Liabilities Subject to Compromise             2,667,587.11              2,827,647.41

                                             -------------             -------------
Total Other                                   2,667,587.11              2,827,647.41


OWNER'S EQUITY

Common Stock                                          0.00                      0.00

Add'l Paid In Capital                         4,571,000.00              4,571,000.00

Current Net Income (Loss)                    (6,632,407.44)              (984,131.23)

Retained Earnings                            21,206,142.72             22,548,071.66

                                             -------------             -------------
Total Owner's Equity                         19,144,735.28             26,134,940.43

                                             -------------             -------------
Total Liabilities & Equity                   21,814,149.29             29,907,243.85
                                             =============             =============






Great American Cruise              ATTACHMENT 6                   01-10954 (JCA)
Line, LLC                    Summary List of Due To/
                                Due From Accounts
                         For the Month Ended May 31, 2002




                                                                  BEGINNING                                              ENDING
AFFILIATE NAME                                 CASE NUMBER         BALANCE           DEBITS           CREDITS           BALANCE
                                                                                                     
American Classic Voyages Co.                   01-10954         29,630,103.62           151.50        56,832.99      29,573,422.13
AMCV Cruise Operations, Inc.                   01-10967        (21,632,478.01)    1,000,901.60     1,402,197.00     (22,033,773.41)
The Delta Queen Steamboat Co.                  01-10970         17,986,662.31     7,203,329.32     7,554,381.53      17,635,610.10
DQSB II, Inc.                                  01-10974               (877.52)              --               --            (877.52)
Great AQ Steamboat, L.L.C.                     01-10960             14,507.47               --               --          14,507.47
Great Pacific NW Cruise Line, L.L.C.           01-10977             10,219.55       212,020.45       212,020.45          10,219.55
Great River Cruise Line, L.L.C.                01-10963           (242,859.89)       27,733.16       288,824.02        (503,950.75)
Cruise America Travel, Incorporated            01-10966         (2,953,907.27)    4,171,666.50     4,171,666.50      (2,953,907.27)
Delta Queen Coastal Voyages, L.L.C.            01-10964             85,950.95               --               --          85,950.95
Cape Cod Light, L.L.C.                         01-10962              4,980.00               --               --           4,980.00
Cape May Light, L.L.C.                         01-10961              1,844.01               --               --           1,844.01
Project America, Inc.                          N/A                  (4,475.20)              --               --          (4,475.20)
Great Hawaiian Cruise Line, Inc.               01-10975            (37,394.43)              --               --         (37,394.43)
Great Hawaiian Properties Corporation          01-10971            (34,964.32)              --               --         (34,964.32)
Great Independence Ship Co.                    01-10969             (2,195.09)              --               --          (2,195.09)
                                                                -------------    -------------    -------------      -------------
                                                                22,825,116.18    12,615,802.53    13,685,922.49      21,754,996.22
                                                                =============    =============    =============      =============






GREAT OCEAN CRUISE LINE, L.L.C.                          CASE #: 01-10959 (JCA)

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING




DETAIL:                                       0-30 DAYS       31-60 DAYS       61-90 DAYS         91+ DAYS           TOTAL

                                                                                                     
Paymentech Credit Card Processor                                                                  27,274.85         27,274.85
American Express Credit Card Processor                                                                                   0.00
Discover Credit Card Processor                                                                                           0.00
Diners Credit Card Processor                                                                                             0.00
Travel Agents                                                                                                            0.00

                                              ----------      -----------      -----------        ---------         ---------
Total                                               0.00             0.00             0.00        27,274.85         27,274.85
                                              ==========      ===========      ===========        =========         =========



                                                                 ATTACHMENT # 7





                               MISSISSIPPI QUEEN
                               AP-STEAMER CHECKS

                              21-000-221300-00000

                                     MAY-02



OUTSTANDING CHECKS:
                                                
       17103 Garrett TV & Appliances                 498.75
       17104 Marvin Ross                             957.96
       17165 Jim Coulson-MCI                          50.69
       17183 S. Baham-Spiegel                         20.00
       17190 C. Sisson-J. Sisson                     199.50
       17248 A. Sisson-J. Sisson                     100.00

                                                   ---------
       Total per G/L:                              1,826.90
                                                   =========



                                                                 ATTACHMENT # 8





DEBTOR:  GREAT OCEAN CRUISE LINE, L.L.C.           CASE NUMBER:  01-10959 (JCA)

                      PRELIMINARY MONTHLY OPERATING REPORT
                               AS OF MAY 31, 2002
                                      AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                     NOTES TO MAY MONTHLY OPERATING REPORT


The information contained herein is unaudited.

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.       The Debtor completed a sale of assets on May 31, 2002 (the "Close
         date"). The sale included the Debtor's primary asset, the Mississippi
         Queen, and all inventories. In connection therewith, the Debtor
         recorded a loss on disposition of $5.6 million. This amount, which is
         included in reorganization expenses, is an estimate that will be
         adjusted when the Debtor receives a final allocation of the purchase
         price from the Purchaser. The asset purchase agreement allows the
         Purchaser sixty days to provide an allocation between the purchased
         assets.

2.       The Mississippi Queen resumed voyage sailing on May 7, 2002 (the
         "Cut-off date"). Pursuant to the asset purchase agreement, the revenue
         and expenses from the Cut-off date to the Close date accrued to the
         benefit of the Purchaser. The revenue and expenses are not reflected
         herein on Attachment 4 and the cash disbursements for such expenses
         were not reflected herein on Attachment 2.

3.       As part of the asset sale, the Purchaser reimbursed the Debtor for
         credit card commission previously incurred which benefited future
         voyages. The Debtor recorded a credit to commission expense to reflect
         this reimbursement.

EX-99.3

                                                                   EXHIBIT 99.3


DEBTOR:  GREAT AQ STEAMBOAT, L.L.C.                CASE NUMBER:  01-10960 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.


/s/ STEVE MOELLER
- ------------------------
Steve Moeller
Director, Accounting





DEBTOR:  GREAT AQ STEAMBOAT, L.L.C.                CASE NUMBER:  01-10960 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly Operating Report





7-Jun-02                 Summary Of Bank, Investment &             Attachment 1
12:39 PM                      Petty Cash Accounts
Summary                   Great AQ Steamboat, L.L.C.                  UNAUDITED
Great AQ                   Case No: 01-10960 (JCA)
Steamboat, LLC             For Month Of May, 2002




                                          Balances
                               ------------------------------        Receipts &          Bank
                                 Opening          Closing           Disbursements      Statements        Account
Account                        As Of 5/01/02    As Of 5/31/02         Included          Included         Reconciled
- -------                        -------------    -------------       -------------      ----------        ----------
                                                                                          
American Queen Steamer             0.00             0.00             No -               No - Not         No -
Hibernia                                                             No Activity        Concentration    No Activity
Account # - 812-395-343                                                                 Account

American Queen                     0.00             0.00             No -               Not A Bank       No -
Petty Cash                                                           No Activity        Account          No Activity






7-Jun-02                        Receipts & Disbursements           Attachment 2
12:42 PM                       Great AQ Steamboat, L.L.C.
Summary                         Case No: 01-10960 (JCA)
Great AQ Steamboat, LLC          For Month Of May, 2002
Attach 2


            No Receipts Or Disbursements Due To All Accounts Closed





7-Jun-02                    Concentration & Investment             Attachment 3
12:42 PM                        Account Statements
Summary                     Great AQ Steamboat, L.L.C.
Great AQ                     Case No: 01-10960 (EIK)
Steamboat, LLC               For Month Of May, 2002
Attach 3


          No Statements Due To No Concentration Or Investment Accounts





AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:30:21
INCOME STATEMENT - ATTACHMENT 4                        Page:   1
Current Period: MAY-02

currency USD
Company=23 (AMERICAN QUEEN)




                                          PTD-Actual
                                          31-May-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                             167.97
Vessel Expenses                              6,831.31
Layup/Drydock Expense                            0.00
Vessel Insurance                            14,353.47
                                        -------------
Total Operating Expenses                    21,352.75
                                        -------------
Gross Profit                               (21,352.75)

SG&A Expenses
Sales & Marketing                                0.00
Start-Up Costs                                   0.00
                                        -------------
Total SG&A Expenses                              0.00
                                        -------------
EBITDA                                     (21,352.75)

Depreciation                                     0.00
                                        -------------
Operating Income                           (21,352.75)

Other Expense/(Income)
Interest Income                                  0.00
Interest Expense                         1,091,147.10
Equity in Earnings for Sub                       0.00
Reorganization expenses                (16,160,925.91)
                                        -------------
Total Other Expense/(Income)           (15,069,778.81)
                                        -------------
Net Pretax Income/(Loss)                15,048,426.06

Income Tax Expense                               0.00
                                        -------------
Net Income/(Loss)                       15,048,426.06
                                        =============






AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:20
BALANCE SHEET - ATTACHMENT 5                           Page:   1
Current Period: MAY-02

currency USD
Company=23 (AMERICAN QUEEN)




                                              YTD-Actual                YTD-Actual
                                               31-May-02                22-Oct-01
                                             -------------            -------------

                                                                
ASSETS

Cash and Equivalent                                   0.00                27,915.55

Restricted Cash                                       0.00                     0.00

Accounts Receivable                              18,398.71               100,111.04

Inventories                                           0.00               436,746.94

Prepaid Expenses                                      0.00                 1,126.00

Other Current Assets                                  0.00               189,129.97

                                             -------------            -------------
Total Current Assets                             18,398.71               755,029.50


Fixed Assets                                          0.00            76,449,630.83

Accumulated Depreciation                              0.00           (23,703,366.77)

                                             -------------            -------------
Net Fixed Assets                                      0.00            52,746,264.06


Net Goodwill                                          0.00                     0.00

Intercompany Due To/From                     33,526,033.89            11,900,053.46

Net Deferred Financing Fees                           0.00               561,110.86

Net Investment in Subsidiaries                        0.00                     0.00

                                             -------------            -------------
Total Other Assets                           33,526,033.89            12,461,164.32

                                             -------------            -------------
Total Assets                                 33,544,432.60            65,962,457.88
                                             =============            =============






AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:20
BALANCE SHEET - ATTACHMENT 5                           Page:   2
Current Period: MAY-02

currency USD
Company=23 (AMERICAN QUEEN)




                                              YTD-Actual                YTD-Actual
                                               31-May-02                22-Oct-01
                                             -------------            -------------

                                                                
LIABILITIES

Accounts Payable                                  1,774.58                 5,469.58

Accrued Liabilities                                   0.00               754,127.79

Deposits                                              0.00                    25.00

                                             -------------            -------------
Total Current Liabilities                         1,774.58               759,622.37


Long Term Debt                                        0.00                     0.00

Other Long Term Liabilities                           0.00                     0.00

                                             -------------            -------------
Total Liabilities                                 1,774.58               759,622.37


OTHER

Liabilities Subject to Compromise             2,341,087.01            48,583,115.71

                                             -------------            -------------
Total Other                                   2,341,087.01            48,583,115.71


OWNER'S EQUITY

Common Stock                                      1,000.00                 1,000.00

Add'l Paid In Capital                         4,060,000.00             4,060,000.00

Current Net Income (Loss)                    14,765,919.71              (493,470.71)

Retained Earnings                            12,374,651.30            13,052,190.51

                                             -------------            -------------
Total Owner's Equity                         31,201,571.01            16,619,719.80

                                             -------------            -------------
Total Liabilities & Equity                   33,544,432.60            65,962,457.88
                                             =============            =============






Great AQ                          ATTACHMENT 6                   01-10954 (JCA)
Steamboat, LLC                Summary List of Due To/
                                Due From Accounts
                         For the Month Ended May 31, 2002




                                                                BEGINNING                                              ENDING
AFFILIATE NAME                                CASE NUMBER        BALANCE             DEBITS            CREDITS        BALANCE
                                                                                                      
American Classic Voyages Co.                  01-10954         22,408,601.79                --        1,606.50     22,406,995.29
AMCV Cruise Operations, Inc.                  01-10967        (22,850,855.07)               --        7,586.89    (22,858,441.96)
The Delta Queen Steamboat Co.                 01-10970         17,085,065.28     21,835,498.73       11,565.82     38,908,998.19
DQSB II, Inc.                                 01-10974               (919.60)               --              --           (919.60)
Great Pacific NW Cruise Line, L.L.C.          01-10977              5,552.79                --              --          5,552.79
Great River Cruise Line, L.L.C.               01-10963           (167,391.63)               --          621.81       (168,013.44)
Great Ocean Cruise Line, L.L.C.               01-10959            (14,507.47)               --              --        (14,507.47)
Cruise America Travel, Incorporated           01-10966         (3,165,198.27)               --              --     (3,165,198.27)
Delta Queen Coastal Voyages, L.L.C.           01-10964            144,264.37                --              --        144,264.37
Cape Cod Light, L.L.C.                        01-10962           (500,000.00)               --              --       (500,000.00)
Cape May Light, L.L.C.                        01-10961         (1,640,241.44)               --              --     (1,640,241.44)
Project America, Inc.                         N/A                 (15,864.24)               --              --        (15,864.24)
Oceanic Ship Co.                              N/A                  (7,408.30)               --              --         (7,408.30)
Project America Ship I, Inc.                  N/A                 459,787.19                --              --        459,787.19
Great Hawaiian Properties Corporation         01-10971            (22,591.38)               --              --        (22,591.38)
American Hawaii Properties Corporation        01-10976             (1,496.24)               --              --         (1,496.24)
Great Independence Ship Co.                   01-10969             (4,881.60)               --              --         (4,881.60)
                                                               -------------     -------------       ---------     -------------
                                                               11,711,916.18     21,835,498.73       21,381.02     33,526,033.89
                                                               =============     =============       =========     =============







GREAT AQ STEAMBOAT, L.L.C.                              CASE #:  01-10960 (JCA)

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING




DETAIL:                                      0-30 DAYS      31-60 DAYS     61-90 DAYS     91+ DAYS          TOTAL

                                                                                            
Paymentech Credit Card Processor                                                          18,398.71        18,398.71
American Express Credit Card Processor                                                                          0.00
Discover Credit Card Processor                                                                                  0.00
Diners Credit Card Processor                                                                                    0.00
Travel Agents                                                                                                   0.00
Crew Member                                                                                                     0.00

                                             ---------      ----------     ----------     ---------        ---------
Total                                             0.00            0.00           0.00     18,398.71        18,398.71
                                             =========      ==========     ==========     =========        =========



                                                                 ATTACHMENT # 7





                                 AMERICAN QUEEN
                               AP-STEAMER CHECKS
                              23-000-221300-00000

                                     MAY-02



OUTSTANDING CHECKS:

                                                   
      17707 Tashanda Morreno-Amber Hensley               60.00
      17732 Peter Levaneur-Sally Ralicki                100.00
      17768 Bryant Johnson-Kenshell Lang                 80.00
      17779 Mark King-Rosa Trumble                      170.00
      17820 Joe Willett-NARP                             28.00
      17827 B. Grisham-AG Edwards                       100.00
      17828 Mark King                                   340.00
      17837 Daniel Smith-Anastastia Jones                75.00
      17848 J. Hill-Neurosurgical Specialties           117.00
      17850 E. Newman- R. Ryan                          250.00
      17851 Louis Ford-SJ Beaulieau                     225.00
      17852 Jocelyn Beasley-Payoff Voucher               95.47
      17853 Ben Vandeven                                 17.18
      17854 Matt Copeland                                16.93
      17863 Julia Hill-Sears                            100.00

                                                      ---------
      Total per G/L:                                  1,774.58
                                                      =========



      ATTACHMENT # 8





DEBTOR:  GREAT AQ STEAMBOAT, L.L.C.                CASE NUMBER:  01-10960 (JCA)

                      PRELIMINARY MONTHLY OPERATING REPORT
                               AS OF MAY 31, 2002
                                      AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                     NOTES TO MAY MONTHLY OPERATING REPORT


The information contained herein is unaudited.

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.       The Debtor completed a sale of assets on May 31, 2002. The sale
         included the Debtor's primary asset, the American Queen, and all
         inventories. In connection therewith, the Debtor recorded a gain on
         disposition of $16.2 million. This amount, which is included in
         reorganization expenses, is an estimate that will be adjusted when the
         Debtor receives a final allocation of the purchase price from the
         Purchaser. The asset purchase agreement allows the Purchaser sixty
         days to provide an allocation between the purchased assets.

2.       The Maritime Administration ("Marad") held a secured lien against the
         American Queen. In order to release the lien and complete the sale,
         the Debtor agreed to a payoff amount with Marad. The payoff amount,
         which was withheld from the purchase price and remitted directly to
         Marad, included additional interest expense that had not previously
         been recorded by the Debtor. The Debtor recorded the additional
         interest expense in the current period.

EX-99.4

                                                                   EXHIBIT 99.4


DEBTOR:  CAPE MAY LIGHT, L.L.C.                    CASE NUMBER:  01-10961 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.


/s/ STEVE MOELLER
- -----------------------------
Steve Moeller
Director, Accounting





DEBTOR:  CAPE MAY LIGHT, L.L.C.                    CASE NUMBER:  01-10961 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly Operating Report






7-Jun-02                     Summary Of Bank,Investment &          Attachment 1
12:48 PM                        Petty Cash Accounts
Summary                         Cape May Light, L.L.C.                UNAUDITED
Cape May Light, LLC            Case No: 01-10961 (JCA)
                               For Month Of May, 2002



                                              Balances
                                     -----------------------------          Receipts &               Bank
                                       Opening         Closing            Disbursements            Statements          Account
Account                              As Of 5/01/02   As Of 5/31/02          Included                Included          Reconciled
- -------                              -------------   -------------        -------------            ----------         ----------
                                                                                                       
American Classic Voyages Co.                0.00             0.00         No -                     No -                No -
Bank of America                                                           Account                  Account             Account
Account # - 0030 6982 7205                                                Closed                   Closed              Closed

Cape May Light Escrow                 785,839.00       785,839.00         No - Account Is          No - Account Is     No
US Dept of Transportation                                                 Under Control            Under Control
Maritime Administration                                                   Of Maritime              Of Maritime
                                                                          Administration           Administration -
                                                                                                   No Statements

American Classic Voyages Co.                0.00             0.00         No -                     No -                No -
Bank of America                                                           Account                  Account             Account
Account # - 0041 6103 2379                                                Closed                   Closed              Closed

Cape May Light                              0.00             0.00         No -                     No - Not            No -
Petty Cash                                                                No Activity              A Bank              No Activity
                                                                                                   Account






7-Jun-02                     Receipts & Disbursements              Attachment 2
12:48 PM                     Cape May Light, L.L.C.
Summary                      Case No: 01-10961 (JCA)
Cape May Light, LLC           For Month Of May, 2002
Attach 2


  No Receipts Or Disbursements Due To No Bank Activity Or Investment Accounts





7-Jun-02                       Concentration & Investment          Attachment 3
12:48 PM                          Account Statements
Summary                         Cape May Light, L.L.C.
Cape May Light, LLC             Case No: 01-10961 (JCA)
Attach 3                        For Month Of May, 2002


          No Statements Due To No Concentration Or Investment Accounts





AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:30:23
INCOME STATEMENT - ATTACHMENT 4                        Page:   1
Current Period: MAY-02

currency USD
Company=31 (CAPE MAY LIGHT)




                                       PTD-Actual
                                       31-May-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                         266.09
Vessel Expenses                          2,168.68
Layup/Drydock Expense                        0.00
Vessel Insurance                         9,628.09
                                       ----------
Total Operating Expenses                12,062.86

                                       ----------
Gross Profit                           (12,062.86)

SG&A Expenses
Sales & Marketing                            0.00
Start-Up Costs                               0.00
                                       ----------
Total SG&A Expenses                          0.00

                                       ----------
EBITDA                                 (12,062.86)

Depreciation                                 0.00

                                       ----------
Operating Income                       (12,062.86)

Other Expense/(Income)
Interest Income                              0.00
Interest Expense                         8,724.01
Equity in Earnings for Sub                   0.00
Reorganization expenses                      0.00
                                       ----------
Total Other Expense/(Income)             8,724.01

                                       ----------
Net Pretax Income/(Loss)               (20,786.87)

Income Tax Expense                           0.00

                                       ----------
Net Income/(Loss)                      (20,786.87)
                                       ==========






AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:27
BALANCE SHEET - ATTACHMENT 5                           Page:   1
Current Period: MAY-02

currency USD
Company=31 (CAPE MAY LIGHT)




                                              YTD-Actual                 YTD-Actual
                                               31-May-02                 22-Oct-01
                                             -------------             -------------

                                                                 
ASSETS

Cash and Equivalent                                   0.00                 29,003.54

Restricted Cash                                 785,839.00                785,839.00

Accounts Receivable                               6,235.46                 15,651.15

Inventories                                     720,354.12                750,424.74

Prepaid Expenses                                      0.00                 71,343.83

Other Current Assets                                  0.00                      0.00

                                             -------------             -------------
Total Current Assets                          1,512,428.58              1,652,262.26


Fixed Assets                                 42,083,338.72             42,033,338.72

Accumulated Depreciation                       (550,825.00)              (550,825.00)

                                             -------------             -------------
Net Fixed Assets                             41,532,513.72             41,482,513.72


Net Goodwill                                          0.00                      0.00

Intercompany Due To/From                    (12,524,587.00)           (12,278,102.19)

Net Deferred Financing Fees                   2,495,066.95              2,559,333.82

Net Investment in Subsidiaries                        0.00                      0.00

                                             -------------             -------------
Total Other Assets                          (10,029,520.05)            (9,718,768.37)

                                             -------------             -------------
Total Assets                                 33,015,422.25             33,416,007.61
                                             =============             =============






AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:27
BALANCE SHEET - ATTACHMENT 5                           Page:   2
Current Period: MAY-02

currency USD
Company=31 (CAPE MAY LIGHT)




                                              YTD-Actual                 YTD-Actual
                                               31-May-02                 22-Oct-01
                                             -------------             -------------

                                                                 
LIABILITIES

Accounts Payable                                    324.10                 18,286.96

Accrued Liabilities                             449,623.28                454,710.16

Deposits                                              0.00                      0.00

                                             -------------             -------------
Total Current Liabilities                       449,947.38                472,997.12


Long Term Debt                                        0.00                      0.00

Other Long Term Liabilities                           0.00                      0.00

                                             -------------             -------------
Total Liabilities                               449,947.38                472,997.12


OTHER

Liabilities Subject to Compromise            39,927,754.81             39,937,580.57

                                             -------------             -------------
Total Other                                  39,927,754.81             39,937,580.57


OWNER'S EQUITY

Common Stock                                          0.00                      0.00

Add'l Paid In Capital                                 0.00                      0.00

Current Net Income (Loss)                      (272,198.96)            (2,857,115.19)

Retained Earnings                            (7,090,080.98)            (4,137,454.89)

                                             -------------             -------------
Total Owner's Equity                         (7,362,279.94)            (6,994,570.08)

                                             -------------             -------------
Total Liabilities & Equity                   33,015,422.25             33,416,007.61
                                             =============             =============






Cape May Light, LLC               ATTACHMENT 6                   01-10961 (JCA)
                              Summary List of Due To/
                                Due From Accounts
                         For the Month Ended May 31, 2002




                                                               BEGINNING                                       ENDING
AFFILIATE NAME                            CASE NUMBER           BALANCE         DEBITS      CREDITS           BALANCE
                                                                                           
American Classic Voyages Co.              01-10954              657,443.89        --          72.92           657,370.97
AMCV Cruise Operations, Inc.              01-10967           (8,119,626.84)       --       4,307.93        (8,123,934.77)
The Delta Queen Steamboat Co.             01-10970            8,431,118.53        --             --         8,431,118.53
DQSB II, Inc.                             01-10974                  (82.74)       --             --               (82.74)
Great AQ Steamboat, L.L.C.                01-10960            1,640,241.44        --             --         1,640,241.44
Great Pacific NW Cruise Line, L.L.C.      01-10977               (5,380.67)       --             --            (5,380.67)
Great River Cruise Line, L.L.C.           01-10963              (33,543.95)       --             --           (33,543.95)
Great Ocean Cruise Line, L.L.C.           01-10959               (1,844.01)       --             --            (1,844.01)
Cruise America Travel, Incorporated       01-10966           (1,054,561.24)       --             --        (1,054,561.24)
Delta Queen Coastal Voyages, L.L.C.       01-10964              219,923.30        --       7,682.01           212,241.29
Cape Cod Light, L.L.C.                    01-10962               (8,675.31)       --             --            (8,675.31)
Project America, Inc.                     N/A                   (57,268.50)       --             --           (57,268.50)
Oceanic Ship Co.                          N/A                    13,839.73        --             --            13,839.73
Project America Ship II, Inc.             N/A                   412,316.64        --             --           412,316.64
Ocean Development Co.                     01-10972          (14,604,239.22)       --             --       (14,604,239.22)
Great Hawaiian Cruise Line, Inc.          01-10975               (8,411.75)       --             --            (8,411.75)
Great Hawaiian Properties Corporation     01-10971                4,188.00        --             --             4,188.00
CAT II, Inc.                              01-10968                2,038.56        --             --             2,038.56
                                                            --------------     -----      ---------       --------------
                                                            (12,512,524.14)       --      12,062.86       (12,524,587.00)
                                                            ==============     =====      =========       ==============






CAPE MAY LIGHT, L.L.C.                                  CASE #:  01-10961 (JCA)

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING




DETAIL:                                      0-30 DAYS      31-60 DAYS        61-90 DAYS        91+ DAYS       TOTAL

                                                                                               
Paymentech Credit Card Processor                                                                6,235.46      6,235.46
American Express Credit Card Processor                                                                            0.00
Discover Credit Card Processor                                                                                    0.00
Diners Credit Card Processor                                                                                      0.00
Travel Agents                                                                                                     0.00

                                             ---------      ----------        ----------        --------      --------
Total                                             0.00            0.00              0.00        6,235.46      6,235.46
                                             =========      ==========        ==========        ========      ========



                                                                 ATTACHMENT # 7





                                 CAPE MAY LIGHT
                               AP-STEAMER CHECKS

                              31-000-221300-00000

                                     MAY-02


                                                    
OUTSTANDING CHECKS:
      1091 Multi-Marques                                50.00
      1162 K. McKnight-McRae's                         100.00
      1166 K. McKnight-Gordon's                        100.00
      1192 Donald Vivier-Capitol One                    40.00
      1195 Donald Vivier-Retailer Nat. Bank             20.00
      1200 Joycelyn Owens-grats paid out                14.10

                                                       -------
      Total per G/L:                                   324.10
                                                       =======




      ATTACHMENT # 8





DEBTOR:  CAPE MAY LIGHT, L.L.C.                    CASE NUMBER:  01-10961 (JCA)

                      PRELIMINARY MONTHLY OPERATING REPORT
                               AS OF MAY 31, 2002
                                      AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                     NOTES TO MAY 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. An evaluation of fuel inventory pricing has been performed
         and carrying values have been adjusted accordingly. 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.       The Debtor ceased operating its primary asset, the Cape May Light, on
         October 22, 2001. In connection therewith, the Debtor ceased accruing
         for its next scheduled lay-up, ceased recording depreciation, and has
         not adjusted related lay-up accrual or asset values pending the
         outcome of Chapter 11 proceedings.

4.       Restricted cash represents escrowed proceeds from debt issued to
         finance the construction of the Cape May 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.

EX-99.5

                                                                    EXHIBIT 99.5



DEBTOR:  CAPE COD LIGHT, L.L.C.                     CASE NUMBER:  01-10962 (JCA)


                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.





/s/ STEVE MOELLER
 -----------------------
Steve Moeller
Director, Accounting











DEBTOR:  CAPE COD LIGHT, L.L.C.                     CASE NUMBER:  01-10962 (JCA)


                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly Operating Report





  7-Jun-02            Summary Of Bank And Investment Accounts       Attachment 1
   5:13 PM                    Cape Cod Light, L.L.C.
Summary                      Case No: 01-10962 (JCA)                   UNAUDITED
Cape Cod Light, LLC           For Month Of May, 2002



                                  Balances                       Receipts &        Bank
                                  Opening          Closing       Disbursements     Statements          Account
Account                       As Of 5/01/02    As Of 5/31/02     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
                                                              Administration    Administration -
                                                                                No Statements

Cape Cod Light Security          400,541.48            0.03   Yes               Yes                    Yes
Hibernia Investments, LLC
Account # - 4R6-771783










                                                                                
  7-Jun-02                                      Receipts & Disbursements              Attachment 2-1
   5:14 PM                                        Cape Cod Light, LLC
R&D - Hibernia Investments - CCL Security       Case No: 01-10962 (JCA)                    UNAUDITED
                                               Hibernia Investments, LLC
                                            Cape Cod Light Security Account
                                                 Account # - 4R6-771783
                                                  1 May 02 - 31 May 02



                                                
Opening Balance - 1 May 02
                               400,541.48


Receipts

                                   221.16             Interest Income



                              -----------
                                   221.16             Total Receipts


Disbursements


                              (400,762.61)            To The Delta Queen Steamboat Company -
                                                       Hibernia - Master Cash Account (812-395-335)

                              -----------
                              (400,762.61)            Total Disbursements



Closing Balance - 31 May 02
                                     0.03












AMCV US SET OF BOOKS                              Date: 27-JUN-02 16:30:25
INCOME STATEMENT - ATTACHMENT 4                   Page:   1
Current Period: MAY-02

currency USD
Company=32 (CAPE COD LIGHT)



                                                     PTD-Actual
                                                     31-May-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                                          6,446.55
                                                  ----------------
Total Operating Expenses                                  6,446.55

                                                  ----------------
Gross Profit                                             (6,446.55)

SG&A Expenses
Sales & Marketing                                             0.00
Start-Up Costs                                                0.00
                                                  ----------------
Total SG&A Expenses                                           0.00

                                                  ----------------
EBITDA                                                   (6,446.55)

Depreciation                                                  0.00

                                                  ----------------
Operating Income                                         (6,446.55)

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)                                (15,063.49)

Income Tax Expense                                            0.00

                                                  ----------------
Net Income/(Loss)                                       (15,063.49)
                                                  ================






AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:26
BALANCE SHEET - ATTACHMENT 5                           Page:   1
Current Period: MAY-02

currency USD
Company=32 (CAPE COD LIGHT)



                                             YTD-Actual              YTD-Actual
                                             31-May-02               22-Oct-01
                                           -------------           -------------
                                                             
ASSETS

Cash and Equivalent                                 0.00                    0.00

Restricted Cash                             8,158,728.00            8,158,728.00

Accounts Receivable                                 0.00                   42.00

Inventories                                   217,563.69              217,563.69

Prepaid Expenses                                    0.00               74,900.00

Other Current Assets                                0.00                    0.00

                                           -------------           -------------
Total Current Assets                        8,376,291.69            8,451,233.69


Fixed Assets                               35,973,258.77           35,993,283.77

Accumulated Depreciation                            0.00                    0.00

                                           -------------           -------------
Net Fixed Assets                           35,973,258.77           35,993,283.77


Net Goodwill                                        0.00                    0.00

Intercompany Due To/From                  (13,350,835.35)         (13,322,516.26)

Net Deferred Financing Fees                 2,567,849.44            2,630,465.87

Net Investment in Subsidiaries                      0.00                    0.00

                                           -------------           -------------
Total Other Assets                        (10,782,985.91)         (10,692,050.39)

                                           -------------           -------------
Total Assets                               33,566,564.55           33,752,467.07
                                           =============           =============





AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:26
BALANCE SHEET - ATTACHMENT 5                           Page:   2
Current Period: MAY-02

currency USD
Company=32 (CAPE COD LIGHT)



                                                YTD-Actual              YTD-Actual
                                                31-May-02               22-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'l Paid In Capital                                  0.00                    0.00

Current Net Income (Loss)                       (158,589.07)          (4,661,527.14)

Retained Earnings                             (6,391,522.38)          (1,702,681.79)

                                              -------------           -------------
Total Owner's Equity                          (6,550,111.45)          (6,364,208.93)

                                              -------------           -------------
Total Liabilities & Equity                    33,566,564.55           33,752,467.07
                                              =============           =============







                                                                   
                                         ATTACHMENT 6                    01-10962 (JCA)
Cape Cod Light, LLC       Summary List of Due To/Due From Accounts
                             For the Month Ended May 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       (3,950,183.20)             --               --          (3,950,183.20)
The Delta Queen Steamboat Co.               01-10970        1,404,059.37              --               --           1,404,059.37
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         (399,864.37)     400,541.48         6,446.55              (5,769.44)
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      (13,058,475.55)             --               --         (13,058,475.55)
American Hawaii Properties Corporation      01-10976          (31,777.30)             --               --             (31,777.30)
Great Independence Ship Co.                 01-10969           32,099.49              --               --              32,099.49
                                                          ----------------------------------------------------------------------
                                                          (13,744,930.28)     400,541.48         6,446.55         (13,350,835.35)
                                                          ======================================================================






                             Cape Cod Light, L.L.C.
                                 01-10962 (JCA)




                            Accounts Receivable Aging
                               As of May 31, 2002







                                  Attachment 7


                                 Not Applicable






                             Cape Cod Light, L.L.C.
                                 01-10962 (JCA)




                             Accounts Payable Detail
                               As of May 31, 2002







                                  Attachment 8


                                 Not Applicable






DEBTOR:  CAPE COD LIGHT, L.L.C.                     CASE NUMBER:  01-10962 (JCA)

                      PRELIMINARY MONTHLY OPERATING REPORT
                               AS OF MAY 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                     NOTES TO MAY 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.

5.       Accrued liabilities contains an accrual for vessel lay-up. The Debtor
         has ceased recording further accruals pending the outcome of Chapter 11
         proceedings.

EX-99.6

                                                                    EXHIBIT 99.6


DEBTOR:  GREAT RIVER CRUISE LINE, L.L.C.            CASE NUMBER:  01-10963 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.





/s/ STEVE MOELLER
- ------------------------------
Steve Moeller
Director, Accounting











DEBTOR:  GREAT RIVER CRUISE LINE, L.L.C.            CASE NUMBER:  01-10963 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly Operating Report







                                                                                     
  7-Jun-02                         Summary Of Bank, Investment & Petty Cash Accounts       Attachment 1
   1:59 PM                                Great River Cruise Line, L.L.C.
Summary                                        Case No: 01-10963 (JCA)                        UNAUDITED
Great River Cruise Line, LLC                   For Month Of May, 2002




                                         Balances
                             ------------------------------    Receipts &       Bank
                                 Opening          Closing      Disbursements    Statements      Account
Account                      As Of 5/01/02    As Of 5/31/02    Included         Included        Reconciled
- -------                      -------------    -------------    --------         --------        ----------
                                                                                 
Delta Queen Steamer            41,695.13        92,531.04      Yes              No - Not        Yes
Hibernia                                                                        Concentration
Account # - 812-395-270                                                         Account

Delta Queen                         0.00             0.00      No -             Not A Bank      Yes
Petty Cash                                                     No Activity      Account








   28-Jun-02                     Receipts & Disbursements         Attachment 2-1
    4:24 PM                   Great River Cruise Line, L.L.C.
R&D - Hibernia - DQ Steamer      Case No: 01-10963 JCA)           UNAUDITED
                                       Hibernia
                                  Delta Queen Steamer
                                Account # - 812-395-270
                                 1 May 02 - 31 May 02

                                                  
Opening Balance - 1 May 02
- --------------------------
                                 41,695.13

Receipts
- --------
                                 410,000.00             From The Delta Queen Steam Boat Co. -
                                                         Hibernia - DQSC Master Cash - Account (812-395-335)


                                 ----------
                                 410,000.00             Total Receipts


Disbursements
- -------------
                                  (1,512.00)            Crew Maintenance (P&I)
                                 (81,692.35)            Lay-Up - Hotel Ops
                                 (68,048.38)            Lay-Up - Marine Ops
                                  (3,707.17)            Office - NOLA - Cartons
                                  (3,042.00)            SG&A - IT
                                    (157.27)            SG&A - Passenger Services
                                  (9,881.58)            SG&A - Sales & Marketing
                                 (42,450.29)            Start-Up - Hotel Ops
                                 (12,494.28)            Start-Up - Marine Ops
                                  (2,861.20)            Other Vessel Expense
                                -----------
                                (225,846.52)            Total Disbursements (* See Footnote)



Closing Balance - 31 May 02
- ---------------------------

                                  92,531.04





                 *$133,317.57 Of Disbursements Not Reflected In Disbursements
                  Above Due To Being Reimbursed By Buyer Of Assets At Closing.








                                                                          
  7-Jun-02                     Concentration & Investment Account Statements    Attachment 3
   3:15 PM                         Great River Cruise Line, L.L.C.
Summary                                Case No: 01-10963 (JCA)
Great River Cruise Line, LLC            For Month Of May, 2002
Attach 3




          No Statements Due To No Concentration Or Investment Accounts






AMCV US SET OF BOOKS                              Date: 27-JUN-02 16:30:27
INCOME STATEMENT - ATTACHMENT 4                   Page:   1
Current Period: MAY-02

currency USD
Company=22 (DELTA QUEEN)



                                                       PTD-Actual
                                                       31-May-02
                                                  ------------------
                                               
Revenue
Gross Revenue                                                   0.00
Allowances                                                 18,034.17
                                                  ------------------
Net Revenue                                                18,034.17

Operating Expenses
Air                                                             0.00
Hotel                                                           0.00
Commissions                                                     0.00
Onboard Expenses                                              505.19
Passenger Expenses                                            885.34
Vessel Expenses                                             6,808.50
Layup/Drydock Expense                                           0.00
Vessel Insurance                                            2,137.11
                                                  ------------------
Total Operating Expenses                                   10,336.14

                                                  ------------------
Gross Profit                                                7,698.03

SG&A Expenses
Sales & Marketing                                               0.00
Start-Up Costs                                                  0.00
                                                  ------------------
Total SG&A Expenses                                             0.00

                                                  ------------------
EBITDA                                                      7,698.03

Depreciation                                                    0.00

                                                  ------------------
Operating Income                                            7,698.03

Other Expense/(Income)
Interest Income                                                 0.00
Equity in Earnings for Sub                                      0.00
Reorganization expenses                                 6,463,154.63
                                                  ------------------
Total Other Expense/(Income)                            6,463,154.63

                                                  ------------------
Net Pretax Income/(Loss)                               (6,455,456.60)

Income Tax Expense                                              0.00

                                                  ------------------
Net Income/(Loss)                                      (6,455,456.60)
                                                  ==================








AMCV US SET OF BOOKS                                  Date: 27-JUN-02 16:29:29
BALANCE SHEET - ATTACHMENT 5                          Page:   1
Current Period: MAY-02

currency USD
Company=22 (DELTA QUEEN)



                                                 YTD-Actual             YTD-Actual
                                                 31-May-02               22-Oct-01
                                              ----------------     ------------------
                                                             
ASSETS

Cash and Equivalent                                  68,334.95              64,522.98

Restricted Cash                                           0.00                   0.00

Accounts Receivable                                  68,637.17              33,451.42

Inventories                                               0.00             270,331.59

Prepaid Expenses                                          0.00              37,922.40

Other Current Assets                                      0.00              14,555.00

                                              ----------------     ------------------
Total Current Assets                                136,972.12             420,783.39


Fixed Assets                                              0.00          27,296,694.44

Accumulated Depreciation                                  0.00         (15,065,339.51)

                                              ----------------     ------------------
Net Fixed Assets                                          0.00          12,231,354.93


Net Goodwill                                              0.00                   0.00

Intercompany Due To/From                         (6,457,514.92)         (9,202,583.95)

Net Deferred Financing Fees                               0.00                   0.00

Net Investment in Subsidiaries                            0.00                   0.00

                                              ----------------     ------------------
Total Other Assets                               (6,457,514.92)         (9,202,583.95)

                                              ----------------     ------------------
Total Assets                                     (6,320,542.80)          3,449,554.37
                                              ================     ==================




AMCV US SET OF BOOKS                         Date: 27-JUN-02 16:29:29
BALANCE SHEET - ATTACHMENT 5                 Page:   2
Current Period: MAY-02

currency USD
Company=22 (DELTA QUEEN)



                                                 YTD-Actual            YTD-Actual
                                                 31-May-02              22-Oct-01
                                              ----------------     ------------------
                                                             
LIABILITIES

Accounts Payable                                        689.27               5,758.93

Accrued Liabilities                                       0.00             715,443.75

Deposits                                                  0.00           2,045,629.83

                                              ----------------     ------------------
Total Current Liabilities                               689.27           2,766,832.51


Long Term Debt                                            0.00                   0.00

Other Long Term Liabilities                               0.00                   0.00

                                             -----------------     ------------------
Total Liabilities                                       689.27           2,766,832.51


OTHER

Liabilities Subject to Compromise                   540,730.95             490,370.44

                                              ----------------     ------------------
Total Other                                         540,730.95             490,370.44


OWNER'S EQUITY

Common Stock                                              0.00                   0.00

Add'l Paid In Capital                             3,701,000.00           3,701,000.00

Current Net Income (Loss)                        (7,476,984.57)         (2,206,220.03)

Retained Earnings                                (3,085,978.45)         (1,302,428.55)

                                              ----------------     ------------------
Total Owner's Equity                             (6,861,963.02)            192,351.42

                                              ----------------     ------------------
Total Liabilities & Equity                       (6,320,542.80)          3,449,554.37
                                              ================     ==================










                                                                      
                                               ATTACHMENT 6                 01-10963 (JCA)
Great River Cruise LIne, LLC    Summary List of Due To/Due From Accounts
                                    For the Month Ended May 31, 2002






                                                            BEGINNING                                                   ENDING
AFFILIATE NAME                           CASE NUMBER         BALANCE              DEBITS             CREDITS            BALANCE
                                                                                                     
American Classic Voyages Co.               01-10954       (6,701,911.57)            75.00              972.51        (6,702,809.08)
AMCV Cruise Operations, Inc.               01-10967       (9,437,391.08)         1,721.18            8,109.72        (9,443,779.62)
The Delta Queen Steamboat Co.              01-10970        6,758,836.66      4,741,570.12        1,078,422.25        10,421,984.53
DQSB II, Inc.                              01-10974             (367.05)               --                  --              (367.05)
Great AQ Steamboat, L.L.C                  01-10960          167,391.63            621.81                  --           168,013.44
Great Pacific NW Cruise Line, L.L.C        01-10977            2,052.08          3,096.00              336.00             4,812.08
Great Ocean Cruise Line, L.L.C             01-10959          242,859.89        292,068.13           30,977.27           503,950.75
Cruise America Travel, Incorporated        01-10966       (1,419,142.24)               --                  --        (1,419,142.24)
Delta Queen Coastal Voyages, L.L.C         01-10964           18,978.71                --                  --            18,978.71
Cape Cod Light, L.L.C                      01-10962             (270.05)               --                  --              (270.05)
Cape May Light, L.L.C                      01-10961           33,543.95                --                  --            33,543.95
Project America, Inc.                      N/A               (11,144.65)               --                  --           (11,144.65)
Oceanic Ship Co.                           N/A                  (257.75)               --                  --              (257.75)
Great Hawaiian Cruise Line, Inc.           01-10975              (60.73)               --                  --               (60.73)
Great Hawaiian Properties Corporation      01-10971          (41,555.00)               --                  --           (41,555.00)
American Hawaii Properties Corporation     01-10976            9,562.38                --                  --             9,562.38
CAT II, Inc.                               01-10968            1,025.41                --                  --             1,025.41
                                                         -------------------------------------------------------------------------
                                                         (10,377,849.41)     5,039,152.24        1,118,817.75        (6,457,514.92)
                                                         =========================================================================








GREAT RIVER CRUISE LINE, L.L.C.                         CASE #:  01-10963 (JCA)


ACCOUNTS RECEIVABLE RECONCILIATION AND AGING






                                                                                                 
DETAIL:                                          0-30 DAYS       31-60 DAYS       61-90 DAYS        91+ DAYS          TOTAL


Paymentech Credit Card Processor                                                                    68,637.17       68,637.17
American Express Credit Card Processor                                                                                   0.00
Discover Credit Card Processor                                                                                           0.00
Diners Credit Card Processor                                                                                             0.00
Travel Agents                                                                                                            0.00
Crew Member                                                                                                              0.00

                                             -------------    --------------    -------------   -------------   -------------
Total                                                 0.00              0.00             0.00       68,637.17       68,637.17
                                             =============    ==============    =============   =============   =============








                                                                  ATTACHMENT # 7







                                   DELTA QUEEN
                                AP-STEAMER CHECKS
                               22-000-221300-00000

                                     MAY-02

OUTSTANDING CHECKS:

                                    
                     12333 M. Richardson-Walmart              40.00
                     12335 J. Blasier-Capitol One             20.00
                     12385 J. Blasier-K. Hansen              150.00
                     12399 Peoria Historical Society         120.00
                     12404 Anthony May-Verizon               200.00
                     12408 Peoria Historical Society         160.00

                                                            -------
                     Total per G/L:                          690.00
                                                            =======

                     




                     ATTACHMENT # 8






DEBTOR:  GREAT RIVER CRUISE LINE, L.L.C.           CASE NUMBER:  01-10963 (JCA)

                      PRELIMINARY MONTHLY OPERATING REPORT
                               AS OF MAY 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                     NOTES TO MAY MONTHLY OPERATING REPORT


The information contained herein is unaudited.

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.       The Debtor completed a sale of assets on May 31, 2002 (the "Close
         date"). The sale included the Debtor's primary asset, the Delta Queen,
         and all inventories. In connection therewith, the Debtor recorded a
         loss on disposition of $6.5 million. This amount, which is included in
         reorganization expenses, is an estimate that will be adjusted when the
         Debtor receives a final allocation of the purchase price from the
         Purchaser. The asset purchase agreement allows the Purchaser sixty days
         to provide an allocation between the purchased assets.

2.       As part of the asset sale, the Purchaser reimbursed the Debtor for
         credit card commission previously incurred which benefited future
         voyages. The Debtor recorded a credit to commission expense to reflect
         this reimbursement.

EX-99.7

                                                                   EXHIBIT 99.7


DEBTOR:  DELTA QUEEN COASTAL VOYAGES, L.L.C.       CASE NUMBER:  01-10964 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.


/s/ STEVE MOELLER
- ---------------------------
Steve Moeller
Director, Accounting





DEBTOR:  DELTA QUEEN COASTAL VOYAGES, L.L.C.       CASE NUMBER:  01-10964 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly Operating Report





24-Jun-02               Summary Of Bank And Investment Accounts    Attachment 1
4:29 PM                  Delta Queen Coastal Voyages, L.L.C.
Summary                       Case No: 01-10964 (JCA)                 UNAUDITED
Delta Queen                   For Month Of May, 2002
Coastal Voyages, LLC




                                      Balances
                            ------------------------------          Receipts &        Bank
                              Opening          Closing            Disbursements     Statements     Account
Account                     As Of 5/01/02    As Of 5/31/02          Included         Included     Reconciled
- -------                     -------------    -------------        -------------     ----------    ----------
                                                                                   
No Bank Or Investment            NA                NA                  NA              NA             NA
Accounts






7-Jun-02                        Receipts & Disbursements           Attachment 2
4:29 PM                   Delta Queen Coastal Voyages, L.L.C.
Summary                         Case No: 01-10964 (JCA)
Delta Queen                     For Month Of May, 2002
Coastal Voyages, LLC
Attach 2


       No Receipts Or Disbursements Due To No Bank Or Investment Accounts





7-Jun-02           Concentration & Investment Account Statements   Attachment 3
4:29 PM               Delta Queen Coastal Voyages, L.L.C.
Summary                     Case No: 01-10964 (JCA)
Delta Queen                 For Month Of May, 2002
Costal Voyages,
LLC
Attach 3


          No Statements Due To No Concentration Or Investment Accounts





AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:30:27
INCOME STATEMENT - ATTACHMENT 4                        Page:   1
Current Period: MAY-02

currency USD
Company=30 (DELTA QUEEN COAST VOY)




                                        PTD-Actual
                                        31-May-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             (35,491.86)
Reorganization expenses                      0.00
                                        ---------
Total Other Expense/(Income)            35,491.86

                                        ---------
Net Pretax Income/(Loss)               (35,491.86)

Income Tax Expense                           0.00

                                        ---------
Net Income/(Loss)                      (35,491.86)
                                        =========






AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:31
BALANCE SHEET - ATTACHMENT 5                           Page:   1
Current Period: MAY-02

currency USD
Company=30 (DELTA QUEEN COAST VOY)




                                              YTD-Actual                YTD-Actual
                                               31-May-02                 22-Oct-01
                                            --------------            --------------

                                                                
ASSETS

Cash and Equivalent                                   0.00                      0.00

Restricted Cash                                       0.00                      0.00

Accounts Receivable                                   0.00                      0.00

Inventories                                           0.00                      0.00

Prepaid Expenses                                      0.00                      0.00

Other Current Assets                                  0.00                      0.00

                                            --------------            --------------
Total Current Assets                                  0.00                      0.00


Fixed Assets                                          0.00                      0.00

Accumulated Depreciation                              0.00                      0.00

                                            --------------            --------------
Net Fixed Assets                                      0.00                      0.00


Net Goodwill                                          0.00                      0.00

Intercompany Due To/From                       (412,107.06)              (411,482.06)

Net Deferred Financing Fees                           0.00                      0.00

Net Investment in Subsidiaries              (13,773,267.48)           (12,652,491.22)

                                            --------------            --------------
Total Other Assets                          (14,185,374.54)           (13,063,973.28)

                                            --------------            --------------
Total Assets                                (14,185,374.54)           (13,063,973.28)
                                            ==============            ==============






AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:31
BALANCE SHEET - ATTACHMENT 5                           Page:   2
Current Period: MAY-02

currency USD
Company=30 (DELTA QUEEN COAST VOY)




                                              YTD-Actual                YTD-Actual
                                               31-May-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                  (2,896,625.10)            (2,896,625.10)

                                            --------------            --------------
Total Liabilities                            (2,896,625.10)            (2,896,625.10)


OTHER

Liabilities Subject to Compromise                     0.00                      0.00

                                            --------------            --------------
Total Other                                           0.00                      0.00


OWNER'S EQUITY

Common Stock                                          0.00                      0.00

Add'l Paid In Capital                                 0.00                      0.00

Current Net Income (Loss)                      (427,105.15)            (6,703,754.04)

Retained Earnings                           (10,861,644.29)            (3,463,594.14)

                                            --------------            --------------
Total Owner's Equity                        (11,288,749.44)           (10,167,348.18)

                                            --------------            --------------
Total Liabilities & Equity                  (14,185,374.54)           (13,063,973.28)
                                            ==============            ==============






Delta Queen Coastal               ATTACHMENT 6                   01-10964 (JCA)
Voyages, LLC                  Summary List of Due To/
                                Due From Accounts
                         For the Month Ended May 31, 2002




                                                         BEGINNING                                                ENDING
AFFILIATE NAME                           CASE NUMBER      BALANCE           DEBITS           CREDITS             BALANCE
                                                                                                
American Classic Voyages Co.             01-10954       (934,299.38)              --               --          (934,299.38)
AMCV Cruise Operations, Inc.             01-10967        190,721.38               --               --           190,721.38
The Delta Queen Steamboat Co.            01-10970        519,611.16       400,541.48        14,128.56           906,024.08
Great AQ Steamboat, L.L.C.               01-10960       (144,264.37)              --               --          (144,264.37)
Great Pacific NW Cruise Line, L.L.C.     01-10977       (118,887.26)              --               --          (118,887.26)
Great River Cruise Line, L.L.C.          01-10963        (18,978.71)              --               --           (18,978.71)
Great Ocean Cruise Line, L.L.C.          01-10959        (85,950.95)              --               --           (85,950.95)
Cape Cod Light, L.L.C.                   01-10962        399,864.37         6,446.55       400,541.48             5,769.44
Cape May Light, L.L.C.                   01-10961       (219,923.30)        7,682.01               --          (212,241.29)
                                                        -----------       ----------       ----------          -----------
                                                        (412,107.06)      414,670.04       414,670.04          (412,107.06)
                                                        ===========       ==========       ==========          ===========






                      Delta Queen Coastal Voyages, L.L.C.
                                 01-10964 (JCA)




                           Accounts Receivable Aging
                               As of May 31, 2002







                                  Attachment 7


                                 Not Applicable




                      Delta Queen Coastal Voyages, L.L.C.
                                 01-10964 (JCA)




                            Accounts Payable Detail
                               As of May 31, 2002







                                  Attachment 8


                                 Not Applicable




DEBTOR:  DELTA QUEEN COASTAL VOYAGES, L.L.C.       CASE NUMBER:  01-10964 (JCA)

                      PRELIMINARY MONTHLY OPERATING REPORT
                               AS OF MAY 31, 2002
                                      AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                     NOTES TO MAY 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.       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.

EX-99.8

                                                                   EXHIBIT 99.8


DEBTOR:  DQSC PROPERTY CO.                         CASE NUMBER:  01-10965 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 DQSC Property Co. was inactive for the above
referenced period and, to the best of my knowledge, the foregoing is true and
correct.


/s/ STEVE MOELLER
- ----------------------------
Steve Moeller
Director, Accounting

EX-99.9

                                                                   EXHIBIT 99.9


DEBTOR:  CRUISE AMERICA TRAVEL, INCORPORATED       CASE NUMBER:  01-10966 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.


/s/ STEVE MOELLER
- ------------------------
Steve Moeller
Director, Accounting





DEBTOR:  CRUISE AMERICA TRAVEL, INCORPORATED       CASE NUMBER:  01-10966 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly Operating Report





24-Jun-02             Summary Of Bank And Investment Accounts      Attachment 1
4:36 PM                Cruise America Travel, Incorporated
Summary                      Case No: 01-10966 (JCA)                  UNAUDITED
Cruise America               For Month Of May, 2002
Travel, Inc.




                                      Balances
                            ------------------------------       Receipts &         Bank
                                Opening          Closing       Disbursements      Statements       Account
Account                     As Of 5/01/02    As Of 5/31/02       Included          Included       Reconciled
- -------                     -------------    -------------     -------------      ----------      ----------
                                                                                   
No Bank Or Investment            NA               NA             NA                 NA              NA
Accounts






24-Jun-02                    Receipts & Disbursements              Attachment 2
4:36 PM                Cruise America Travel, Incorporated
Summary                      Case No: 01-10966 (JCA)
Cruise America               For Month Of May, 2002
Travel, Inc.
Attach 2


       No Receipts Or Disbursements Due To No Bank Or Investment Accounts





24-Jun-02         Concentration & Investment Account Statements    Attachment 3
4:36 PM               Cruise America Travel, Incorporated
Summary                     Case No: 01-10966 (JCA)
Cruise America              For Month Of May, 2002
Travel, Inc.
Attach 3


          No Statements Due To No Concentration Or Investment Accounts





AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:30:29
INCOME STATEMENT - ATTACHMENT 4                        Page:   1
Current Period: MAY-02

currency USD
Company=29 (CAT - DQSC)




                                      PTD-Actual
                                      31-May-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                 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: 27-JUN-02 16:29:35
BALANCE SHEET - ATTACHMENT 5                           Page:   1
Current Period: MAY-02

currency USD
Company=29 (CAT - DQSC)




                                              YTD-Actual               YTD-Actual
                                              31-May-02                 22-Oct-01
                                             ------------             ------------

                                                                
ASSETS

Cash and Equivalent                                  0.00                     0.00

Restricted Cash                                      0.00                     0.00

Accounts Receivable                                  0.00                19,582.06

Inventories                                          0.00                     0.00

Prepaid Expenses                               256,291.69               565,863.67

Other Current Assets                                 0.00                     0.00

                                             ------------             ------------
Total Current Assets                           256,291.69               585,445.73


Fixed Assets                                         0.00                     0.00

Accumulated Depreciation                             0.00                     0.00

                                             ------------             ------------
Net Fixed Assets                                     0.00                     0.00


Net Goodwill                                         0.00                     0.00

Intercompany Due To/From                     4,916,410.65             4,474,118.72

Net Deferred Financing Fees                          0.00                     0.00

Net Investment in Subsidiaries                       0.00                     0.00

                                             ------------             ------------
Total Other Assets                           4,916,410.65             4,474,118.72

                                             ------------             ------------
Total Assets                                 5,172,702.34             5,059,564.45
                                             ============             ============






AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:35
BALANCE SHEET - ATTACHMENT 5                           Page:   2
Current Period: MAY-02

currency USD
Company=29 (CAT - DQSC)




                                              YTD-Actual               YTD-Actual
                                              31-May-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                  1,591,053.16             1,591,053.16

                                             ------------             ------------
Total Liabilities                            1,591,053.16             1,591,053.16


OTHER

Liabilities Subject to Compromise                    0.00                 5,731.15

                                             ------------             ------------
Total Other                                          0.00                 5,731.15


OWNER'S EQUITY

Common Stock                                         0.00                     0.00

Add'l Paid In Capital                           50,000.00                50,000.00

Current Net Income (Loss)                       (9,391.32)              591,526.60

Retained Earnings                            3,541,040.50             2,821,253.54

                                             ------------             ------------
Total Owner's Equity                         3,581,649.18             3,462,780.14

                                             ------------             ------------
Total Liabilities & Equity                   5,172,702.34             5,059,564.45
                                             ============             ============






Cruise America                    ATTACHMENT 6                   01-10966 (JCA)
Travel, Incorporated          Summary List of Due To/
                                Due From Accounts
                         For the Month Ended May 31, 2002




                                                                BEGINNING                                            ENDING
AFFILIATE NAME                               CASE NUMBER         BALANCE         DEBITS         CREDITS             BALANCE
                                                                                                 
American Classic Voyages Co.                 01-10954          (103,377.71)            --             --          (103,377.71)
AMCV Cruise Operations, Inc.                 01-10967        (4,057,639.67)        953.02         478.50        (4,057,165.15)
The Delta Queen Steamboat Co.                01-10970          (309,751.39)    132,850.00      79,602.43          (256,503.82)
Great AQ Steamboat, L.L.C.                   01-10960         3,165,198.27             --             --         3,165,198.27
Great Pacific NW Cruise Line, L.L.C.         01-10977           674,733.24             --             --           674,733.24
Great River Cruise Line, L.L.C.              01-10963         1,419,142.24             --             --         1,419,142.24
Great Ocean Cruise Line, L.L.C.              01-10959         2,953,907.27      59,145.50      59,145.50         2,953,907.27
Cape Cod Light, L.L.C.                       01-10962             2,706.08             --             --             2,706.08
Cape May Light, L.L.C.                       01-10961         1,054,561.24             --             --         1,054,561.24
Oceanic Ship Co.                             N/A                  6,631.08             --             --             6,631.08
Ocean Development Co.                        01-10972            15,996.19             --             --            15,996.19
American Hawaii Properties Corporation       01-10976             1,126.92             --             --             1,126.92
Great Independence Ship Co.                  01-10969            16,321.27             --             --            16,321.27
CAT II, Inc.                                 01-10968            23,133.53             --             --            23,133.53
                                                             -------------     ----------     ----------        -------------
                                                              4,862,688.56     192,948.52     139,226.43         4,916,410.65
                                                             =============     ==========     ==========        =============






                      Cruise America Travel, Incorporated
                                 01-10966 (JCA)




                           Accounts Receivable Aging
                               As of May 31, 2002







                                  Attachment 7


                                 Not Applicable





                      Cruise America Travel, Incorporated
                                 01-10966 (JCA)




                            Accounts Payable Detail
                               As of May 31, 2002







                                  Attachment 8


                                 Not Applicable





DEBTOR:  CRUISE AMERICA TRAVEL, INCORPORATED       CASE NUMBER:  01-10966 (JCA)

                      PRELIMINARY MONTHLY OPERATING REPORT
                               AS OF MAY 31, 2002
                                      AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                     NOTES TO MAY 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.       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.

2.       Prepaid expenses represent pre-petition pre-paid airline tickets.
         Amounts representing liabilities to airlines for airline tickets and
         contained in "liabilities subject to compromise" may be setoff by
         pre-paid airline tickets.

EX-99.10

                                                                  EXHIBIT 99.10


DEBTOR:  AMCV CRUISE OPERATIONS, INC.              CASE NUMBER:  01-10967 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.


/s/ STEVE MOELLER
- -----------------------
Steve Moeller
Director, Accounting





DEBTOR:  AMCV CRUISE OPERATIONS, INC.              CASE NUMBER:  01-10967 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly Operating Report





28-Jun-02                   Summary Of Bank,Investment &           Attachment 1
3:37 PM                         Petty Cash Accounts
Summary                     AMCV Cruise Operations, Inc.              UNAUDITED
AMCV Cruise                   Case No: 01-10967 (JCA)
Operations, Inc               For Month Of May, 2002




                                             Balances
                                   ------------------------------         Receipts &               Bank
                                      Opening          Closing          Disbursements            Statements           Account
Account                            As Of 5/01/02    As Of 5/31/02          Included               Included          Reconciled
- -------                            -------------    -------------       -------------            ----------         ----------
                                                                                                     
AHC - Certificate Of Deposit *       25,000.00        25,000.00           Yes                     No - Not           Yes
Bank One                                                                                          Concentration
Account # - 880058451981                                                                          Account

AHC - Certificate Of Deposit *       25,000.00        25,000.00           Yes                     No - Not           Yes
Bank One                                                                                          Concentration
Account # - 880058452369                                                                          Account

AMCV Cruise Ops                      50,533.47         5,116.69           Yes                     Yes                Yes
Master Cash
First Union National Bank
Account # - 2090002602362

AMCV Escrow - Gohagan               247,130.24             0.00           Yes                     No - Not           Yes
LaSalle Bank                                                                                      Concentration
Account # - 62-8766-40-4                                                                          Account

American Classic Voyages                  0.00             0.00           No -                    No -               No -
Fleet Bank                                                                Account                 Account            Account
Account # - 941-9148945                                                   closed                  closed             closed

New Orleans Office                    7,079.27           825.45           Yes                     Not A Bank         Yes
Petty Cash                                                                                        Account


*        Proceeds From Matured Certificates Of Deposit Being Retained By Bank
         One While They Pursue Recovery Of Equivalent Amounts Relating To
         Letters Of Credits That Were Exercised After The Filing For Bankruptcy
         Where These Certificates Of Deposits Were Collateral





24-Jun-02                     Receipts & Disbursements           Attachment 2-1
4:54 PM                    AMCV Cruise Operations, Inc.
R&D - Bank One -             Case No: 01-10967 (JCA)                  UNAUDITED
AHC CD (86)                         Bank One
                           AHC Certificate Of Deposit
                            Account # - 880058451981
                              1 May 02 - 31 May 02


                                                 
Opening Balance - 1 May 02
                                  25,000.00



Receipts



                                  ---------
                                       0.00            Total Receipts


Disbursements



                                  ---------
                                       0.00            Total Disbursements



Closing Balance - 31 May 02
                                  25,000.00







24-Jun-02                     Receipts & Disbursements           Attachment 2-2
4:54 PM                    AMCV Cruise Operations, Inc.
R&D - Bank One -             Case No: 01-10967 (JCA)                  UNAUDITED
AHC CD (87)                        Bank One
                           AHC Certificate Of Deposit
                            Account # - 880058452369
                              1 May 02 - 31 May 02


                                                 
Opening Balance - 1 May 02
                                  25,000.00



Receipts



                                  ---------
                                       0.00            Total Receipts


Disbursements



                                  ---------
                                       0.00            Total Disbursements



Closing Balance - 31 May 02
                                  25,000.00







24-Jun-02                     Receipts & Disbursements           Attachment 2-3
5:09 PM                    AMCV Cruise Operations, Inc.
R&D - First Union            Case No: 01-10967 (JCA)                  UNAUDITED
AMCV Cruise Ops                    First Union
Master Cash                AMCV Cruise Ops Master Cash
                           Account # - 2090002602362
                              1 May 02 - 31 May 02


                                                   
Opening Balance - 1 May 02
                                   50,533.47


Receipts
                                    3,243.68             Misc Deposits

                                  247,395.77             From AMCV Cruise Ops - LaSalle Bank -
                                                         Gohagan Escrow - Account (62-8766-40-4)



                                 -----------
                                  250,639.45             Total Receipts


Disbursements

                                 (296,000.00)            To The Delta Queen Steamboat Co. - Hibernia -
                                                         DQSC Master Cash - Account (812-395-335)
                                                         Returned Deposits
                                      (56.23)            Bank Fees

                                 -----------
                                 (296,056.23)            Total Disbursements


Closing Balance - 31 May 02
                                    5,116.69







1-Jul-02                        Receipts & Disbursements         Attachment 2-4
12:22 PM                     AMCV Cruise Operations, Inc.
R&D - LaSalle                  Case No: 01-10967 (JCA)                UNAUDITED
AMCV Escrow - Gohagan                LaSalle
                             AMCV Escrow - Gohagan
                            Account # - 62-8766-40-4
                              1 May 02 - 31 May 02


                                               
Opening Balance - May 02
                                     247,130.24


Receipts
                                         265.53      Interest Earned



                                    -----------
                                         265.53      Total Receipts


Disbursements

                                    (247,395.77)     To AMCV Cruise Ops - First Union National Bank -
                                                     AMCV Cruise Ops - Account (2090002602362)



                                    -----------
                                    (247,395.77)     Total Disbursements



Closing Balance - 31 May 02
                                           0.00







28-Jun-02                     Receipts & Disbursements           Attachment 2-5
4:30 PM                     AMCV Cruise Operations, Inc.
R&D - NOLA                    Case No: 01-10967 (JCA)                 UNAUDITED
Petty Cash                  New Orleans-Weston Offices
                                   Petty Cash
                                 Account # - NA
                              1 May 02 - 31 May 02


                                                 
Opening Balance - 1 May 02
                                         7,079.27


Receipts



                                         --------
                                             0.00      Total Receipts


Disbursements

                                           (60.00)     Cleaning - Weston
                                           (27.81)     Misc Supplies - Weston
                                          (591.00)     MQ Lay-Up - Per Diem



                                         --------
                                          (678.81)     Total Disbursements



Closing Balance - 31 May 02
                                           825.45




*        $5,575.01 Of Disbursements Not Reflected In Disbursements Above Due
         To Being Reimbursed By Buyer Of Assets At Closing.





AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:30:31
INCOME STATEMENT - ATTACHMENT 4                        Page:   1
Current Period: MAY-02

currency USD
Company=15 (AMCV OPS)




                                         PTD-Actual
                                         31-May-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                192,636.82
Sales & Marketing                          51,604.80
Start-Up Costs                            (13,690.01)
                                        ------------
Total SG&A Expenses                       230,551.61

                                        ------------
EBITDA                                   (230,551.61)

Depreciation                               40,575.70

                                        ------------
Operating Income                         (271,127.31)

Other Expense/(Income)
Interest Income                                 0.00
Interest Expense                            1,480.42
Equity in Earnings for Sub                559,254.47
Reorganization expenses                 8,123,319.14
Other expense                             (44,597.80)
                                        ------------
Total Other Expense/(Income)            7,520,947.29

                                        ------------
Net Pretax Income/(Loss)               (7,792,074.60)

Income Tax Expense                              0.00

                                        ------------
Net Income/(Loss)                      (7,792,074.60)
                                        ============






AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:37
BALANCE SHEET - ATTACHMENT 5                           Page:   1
Current Period: MAY-02

currency USD
Company=15 (AMCV OPS)




                                              YTD-Actual                  YTD-Actual
                                               31-May-02                  22-Oct-01
                                             --------------             --------------

                                                                  
ASSETS

Cash and Equivalent                             (386,495.50)              1,723,947.86

Restricted Cash                                        0.00                 219,000.00

Marketable Securities                             50,000.00                  50,000.00

Accounts Receivable                                    0.00                  99,684.62

Inventories                                            0.00                       0.00

Prepaid Expenses                                 266,396.15                 522,662.13

Other Current Assets                              20,942.96                   1,750.00

                                             --------------             --------------
Total Current Assets                             (49,156.39)              2,617,044.61


Fixed Assets                                           0.00               9,371,627.23

Accumulated Depreciation                               0.00                (453,764.30)

                                             --------------             --------------
Net Fixed Assets                                       0.00               8,917,862.93


Net Goodwill                                           0.00                       0.00

Intercompany Due To/From                      (3,285,979.55)              2,150,807.43

Net Deferred Financing Fees                            0.00                       0.00

Net Investment in Subsidiaries                61,432,034.49              66,329,274.35

                                             --------------             --------------
Total Other Assets                            58,146,054.94              68,480,081.78

                                             --------------             --------------
Total Assets                                  58,096,898.55              80,014,989.32
                                             ==============             ==============






AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:37
BALANCE SHEET - ATTACHMENT 5                           Page:   2
Current Period: MAY-02

currency USD
Company=15 (AMCV OPS)




                                              YTD-Actual                  YTD-Actual
                                               31-May-02                  22-Oct-01
                                             --------------             --------------

                                                                  
LIABILITIES

Accounts Payable                                 104,083.99                   5,363.60

Accrued Liabilities                               91,122.51                 289,488.87

Deposits                                               0.00                       0.00

                                             --------------             --------------
Total Current Liabilities                        195,206.50                 294,852.47


Long Term Debt                                         0.00                       0.00

Other Long Term Liabilities                            0.00                       0.00

                                             --------------             --------------
Total Liabilities                                195,206.50                 294,852.47


OTHER

Liabilities Subject to Compromise             29,494,619.30              32,307,000.02

                                             --------------             --------------
Total Other                                   29,494,619.30              32,307,000.02


OWNER'S EQUITY

Common Stock                                      10,440.25                  10,440.25

Add'l Paid In Capital                        112,772,392.56             112,772,392.56

Current Net Income (Loss)                    (16,614,626.49)            (37,037,717.81)

Retained Earnings                            (67,761,133.57)            (28,331,978.17)

                                             --------------             --------------
Total Owner's Equity                          28,407,072.75              47,413,136.83

                                             --------------             --------------
Total Liabilities & Equity                    58,096,898.55              80,014,989.32
                                             ==============             ==============






AMCV Cruise                       ATTACHMENT 6                   01-10967 (JCA)
Operations                    Summary List of Due To/
                                Due From Accounts
                         For the Month Ended May 31, 2002




                                                            BEGINNING                                               ENDING
AFFILIATE NAME                            CASE NUMBER        BALANCE            DEBITS           CREDITS           BALANCE
                                                                                                
American Classic Voyages Co.              01-10954        (80,160,257.79)    34,775,601.97     3,309,287.47     (48,693,943.29)
AMCV Holdings, Inc.                       01-10973           (638,723.36)           585.00               --        (638,138.36)
The Delta Queen Steamboat Co.             01-10970       (102,596,577.85)     4,200,700.81    35,468,776.66    (133,864,653.70)
DQSB II, Inc.                             01-10974              2,330.40                --               --           2,330.40
Great AQ Steamboat, L.L.C.                01-10960         22,850,855.07          7,586.89               --      22,858,441.96
Great Pacific NW Cruise Line, L.L.C.      01-10977          9,424,393.70          4,761.08               --       9,429,154.78
Great River Cruise Line, L.L.C.           01-10963          9,437,391.08          8,109.72         1,721.18       9,443,779.62
Great Ocean Cruise Line, L.L.C.           01-10959         21,632,478.01        456,903.90        55,608.50      22,033,773.41
Cruise America Travel, Incorporated       01-10966          4,057,639.67            478.50           953.02       4,057,165.15
Delta Queen Coastal Voyages, L.L.C.       01-10964           (190,721.38)               --               --        (190,721.38)
Cape Cod Light, L.L.C.                    01-10962          3,950,183.20                --               --       3,950,183.20
Cape May Light, L.L.C.                    01-10961          8,119,626.84          4,307.93               --       8,123,934.77
Project America, Inc.                     N/A              (4,501,177.23)               --               --      (4,501,177.23)
Oceanic Ship Co.                          N/A              57,683,638.00          4,605.12               --      57,688,243.12
Project America Ship I, Inc.              N/A                 111,968.41                --               --         111,968.41
Ocean Development Co.                     01-10972          1,559,238.61                --               --       1,559,238.61
Great Hawaiian Cruise Line, Inc.          01-10975            (22,292.97)               --               --         (22,292.97)
Great Hawaiian Properties Corporation     01-10971         (6,116,875.06)               --               --      (6,116,875.06)
American Hawaii Properties Corporation    01-10976          5,188,990.02                --               --       5,188,990.02
Great Independence Ship Co.               01-10969         36,656,636.93                --               --      36,656,636.93
CAT II, Inc.                              01-10968          9,637,982.06                --               --       9,637,982.06
                                                         ---------------     -------------    -------------    ---------------
                                                           (3,913,273.64)    39,463,640.92    38,836,346.83      (3,285,979.55)
                                                         ===============     =============    =============    ===============






                          AMCV Cruise Operations, Inc.
                                 01-10967 (JCA)




                           Accounts Receivable Aging
                               As of May 31, 2002







                                  Attachment 7


                                 Not Applicable





ACCOUNTS PAYABLE          AMCV CRUISE OPERATIONS, INC.    CASE # 01-10967 (JCA)
TRIAL BALANCE               ACCOUNTS PAYABLE DETAIL
AS OF MAY 31, 2002           AS OF MAY 31, 2002
                               ATTACHMENT #8
LIABILITY ACCOUNT:
15-000-220102-00000




SUPPLIER NAME                   INVOICE NUMBER        INVOICE DATE    AMOUNT     REMAINING AMOUNT      INVOICE DESCRIPTION
- -------------                   --------------        ------------    ------     ----------------      -------------------

                                                                                    
BELLSOUTH                      042802 6892             28-Apr-02    $   121.95     $    121.95     601 M23 6892 892
                               042802 3363             28-Apr-02    $ 2,378.11     $  2,378.11     504 M83 3363 363
                               051102 4300             11-May-02    $ 1,807.19     $  1,807.19     954 660-4300 002 1807
                               Total for Supplier :                 $ 4,307.25     $  4,307.25

BENTON COUNTY TRUSTEE          123101                  31-Dec-01    $ 1,549.91     $  1,549.91     PROPERTY ADDRESS BL000400

BILL NOBLES, TRUSTEE           123101B                 31-Dec-01    $ 1,704.40     $  1,704.40     BILL NUMBER 145214
                               123101A                 31-Dec-01    $ 1,963.66     $  1,963.66     BILL NUMBER 145375
                               Total for Supplier :                 $ 3,668.06     $  3,668.06

BOARD OF COMMISSIONERS         248229                  28-May-02    $   269.55     $    269.55     WATER METER 2/21-3/20/02

BOB PATTERSON, TRUSTEE         123101B                 31-Dec-01    $ 7,025.24     $  7,025.24     FOLIO NUMBER 6BL-0004-0-00000-0
                               123101A                 31-Dec-01    $ 5,059.38     $  5,059.38     FOLIO NUMBER 1BL-0004-0-00000-0
                               Total for Supplier :                 $12,084.62     $ 12,084.62

CALIAN, PHILLIP                51602                   16-May-02    $   142.18     $    142.18     T&E 5/8-16/02

CARL E. LEVI,
  CITY TREASURER               123101                  31-Dec-01    $ 1,400.93     $  1,400.93     BILL#76013

CHARLIE CALDWELL,
  TRUSTEE                      123101B                 31-Dec-01    $ 2,807.17     $  2,807.17     ACCOUNT NUMBER 000000516
                               123101A                 31-Dec-01    $ 2,459.26     $  2,459.26     ACCOUNT NUMBER 000000340
                               Total for Supplier :                 $ 5,266.43     $  5,266.43

CITY OF PORTLAND               123101                  31-Dec-01    $   100.00     $    100.00     AMERICAN CLASSIC VOYAGES, INC.

CITY TAX COLLECTOR             123101                  31-Dec-01    $    51.77     $     51.77     PROPERTY ADDRESS BL000400

COMMTECH INDUSTRIES            CTII 2002-01456         30-Apr-02    $   690.20     $    690.20

COUNTY TRUSTEE                 123101                  31-Dec-01    $ 1,299.20     $  1,299.20     PROPERTY ADDRESS BL000400

DCC SERVICES                   853                     30-Apr-02    $   450.00     $    450.00

DECATUR COUNTY TRUSTEE         123101                  31-Dec-01    $   991.66     $    991.66     PROPERTY ADDRESS BL000400

DEPARTMENT OF REVENUE
  AND TAXATION                 123101A                 31-Dec-01    $    10.00     $     10.00     PROJECT AMERICA, INC.

DICKSON COUNTY TRUSTEE         123101                  31-Dec-01    $   166.48     $    166.48     PROPERTY ADDRESS BL000400

DIRECTV                        0037-006279444          17-May-02    $       --     $    113.75     #006279444
                               0036-006733024          26-Apr-02    $    65.33     $     65.33     #006733024
                               0031-006733024          26-Nov-01    $    60.33     $     60.33     ACCT#006733024
                               0024-006733024C         23-Apr-01    $  (659.33)    $   (659.33)    OVERPAID CK#4002327
                                                                                                   ACCT#006733024
                               0030-006733024A         26-Oct-01    $    60.33     $     60.33     ACCT#006733024
                               0032-006733024          26-Dec-01    $    60.33     $     60.33     #006733024
                               Total for Supplier :                 $  (413.01)    $   (299.26)

DIVERSEY LEVER, INC            30706                   18-Dec-01    $    (8.97)    $     (8.97)    FUEL SURCHARGE CREDIT

DYER COUNTY TRUSTEE            123101                  31-Dec-01    $ 2,915.08     $  2,915.08     PROPERTY ADDRESS BL000400

ENTERGY                        0415-051402             14-May-02    $       --     $ 12,699.89     #4189216

FEDERAL EXPRESS                4-137-35673CR           22-Mar-02    $    (9.14)    $     (9.14)    INV# 4-137-35673
                               4-136-98564             15-Mar-02         46.82           46.82     WESTON
                               4-240-32286             22-May-02    $    89.98     $     89.98     CHICAGO
                               4-185-92087CR           10-May-02    $   (26.72)    $    (26.72)    INV# 4-185-92087
                                                                    $   100.94     $    100.94

FIDELIO CRUISE, INC            2002082                  3-May-02    $       --     $ 12,205.50

HARDIN COUNTY TRUSTEE          123101                  31-Dec-01    $ 2,254.32     $  2,254.32     HARDIN COUNTY PROPERTY TAX






ACCOUNTS PAYABLE TRIAL BALANCE                        AMCV CRUISE OPERATIONS, INC.                     CASE #01-10967 (JCA)
AS OF MAY 31, 2002                                    ACCOUNTS PAYABLE DETAIL
                                                      AS OF MAY 31, 2002
LIABILITY ACCOUNT: 16-000-220102-00000                ATTACHMENT #8


SUPPLIER NAME                   INVOICE NUMBER        INVOICE DATE    AMOUNT     REMAINING AMOUNT      INVOICE DESCRIPTION
- -------------                   --------------        ------------    ------     ----------------      -------------------

                                                                                    
HENRY COUNTY TRUSTEE           123101                  31-Dec-01    $   323.79     $    323.79     PROPERTY ADDRESS BL000400

HOUSTON COUNTY TRUSTEE         123101                  31-Dec-01    $   303.80     $    303.80     HOUSTON COUNTY PROPERTY TAX

HUMPHREYS COUNTY TRUSTEE       123101                  31-Dec-01    $ 1,014.31     $  1,014.31     PROPERTY ADDRESS BL000400

ICS LOGISTICS                  0245847B                12-Oct-01    $ 1,056.00     $  1,056.00

INFOWORKS, INC                 3230                    10-May-02    $   341.35     $    341.35

IOS CAPITAL                    52948867               28-Sep-01     $ 1,322.52     $  1,322.52     10/25-11/24/01
                               52848199               17-Sep-01     $   152.50     $    152.50     10/12-11/11/01
                               Total for Supplier :                 $ 1,475.02     $  1,475.02

ISLAND OASIS FROZEN
  COCKTAIL CO., INC            111501                  15-Nov-01    $ 1,137.25     $  1,137.25

KELLEYS HOME HEALTH            111001SMIT              10-Nov-01    $   214.00     $    214.00     UNINSURED MED EXP W SMITH
                                                                                                   11/10/01
                               121001SMIT              10-Dec-01    $   117.50     $    117.50     UNINSURED MED EXP W SMITH
                                                                                                   12/10/01
                               Total for Supplier :                 $   331.50     $    331.50

LAKE COUNTY TRUSTEE            123101                  31-Dec-01    $ 5,781.44     $  5,781.44     PROPERTY ADDRESS BL000400

LAURA MAX RACINE, TIPTON
  COUNTY TRUSTEE               123101                  31-Dec-01    $ 2,110.19     $  2,110.19     TIPTON COUNTY PERSONAL
                                                                                                   PROPERTY TAX

MARION COUNTY TRUSTEE          123101                  31-Dec-01    $ 1,594.57     $  1,594.57     MARION COUNTY PROPERTY TAX

MARTINEZ, CHRISTOPHER          0511-2402               11-May-02    $       --     $    168.00     MAINT/ 05/11-24/02

MCC SERVICES                   620034                  20-May-02    $       --     $    656.00     MAY '02 MAINTENANCE

MCI WORLDCOM CONFERENCING      120101                   1-Dec-01    $   (46.07)    $    (46.07)    01-00005980958-00691

METROPOLITAN ELECTRONICS INC   S1960                    1-May-02    $       --     $    105.00     ALARM MONITORING MAY-JULY

MONTGOMERY COUNTY TRUSTEE      123101                  31-Dec-01    $ 2,694.83     $  2,694.83     PROPERTY ADDRESS BL000400

NANCE, PATRICIA                53102                   31-May-02    $    34.27     $     34.27     T&E 4/1-5/31/02

NATCHEZ WATER WORKS            40902                    9-Apr-02    $   (18.36)    $    (18.36)    #13418

NEW ORLEANS PRIVATE PATROL
  SERVICE, INC                 0039231-IN              10-May-02    $       --     $  1,786.10     SECURITY 5/1-10/02

NYS LLC/LLP FEE                123101B                 31-Dec-01    $   325.00     $    325.00     DELTA QUEEN COASTAL
                                                                                                   VOYAGES, L.L.C.
                               123101A                 31-Dec-01    $   325.00     $    325.00     CAPE MAY LIGHT, L. L. C.
                               Total for Supplier :                 $   650.00     $    650.00

PAUL MEADOW, TRUSTEE           123101                  31-Dec-01    $ 4,646.31     $  4,646.31     LAUDERDALE COUNTY PROPERTY TAX

PERRY COUNTY                   123101                  31-Dec-01    $   544.04     $    544.04     PROPERTY ADDRESS BL000400

SOMERSET REFINERY, INC         12718B                  25-Oct-01    $ 3,771.46     $      0.01     PO#11923

SOUTHWESTERN BELL              0227 122401             24-Dec-01    $   (14.66)    $    (14.66)    314-436-0227-138-8
                               8922 120401              4-Dec-01    $    (7.62)    $     (7.62)    573 221-8922 555-7
                               Total for Supplier :                 $   (22.28)    $    (22.28)

SPEED WHEELS EXPRESS           51502                   15-May-02    $       --     $    110.00     MAIL RUN 5/1-15/02

STANDARD COURIER               29838                   25-May-02    $     9.00     $      9.00

STATE OF NEW JERSEY            123101                  31-Dec-01    $   340.00     $    340.00     DELTA QUEEN STEAMBOAT COMPANY

STATE OF NEW JERSEY - CBT      123101                  31-Dec-01    $   340.00     $    340.00     DQSB II, INC





ACCOUNTS PAYABLE TRIAL BALANCE                        AMCV CRUISE OPERATIONS, INC.                     CASE #01-10967 (JCA)
AS OF MAY 31, 2002                                    ACCOUNTS PAYABLE DETAIL
                                                      AS OF MAY 31, 2002
LIABILITY ACCOUNT: 16-000-220102-00000                ATTACHMENT #8

SUPPLIER NAME                   INVOICE NUMBER        INVOICE DATE    AMOUNT     REMAINING AMOUNT      INVOICE DESCRIPTION
- -------------                   --------------        ------------    ------     ----------------      -------------------

                                                                                    
STEWART COUNTY TRUSTEE         123101                  31-Dec-01    $ 2,569.98     $  2,569.98     PROPERTY ADDRESS BL000400

TAX COLLECTOR                  123101                  31-Dec-01    $   240.81     $    240.81     PROPERTY ADDRESS BL000400

TENNESSEE DEPARTMENT
  OF REVENUE                   123101                  31-Dec-01    $ 7,000.00     $  7,000.00     DELTA QUEEN STEAMBOAT COMPANY

TREASURER, CITY OF MEMPHIS     123101                  31-Dec-01    $ 2,626.70     $  2,626.70     ACCOUNT NUMBER TBL000400

WAYNE COUNTY TRUSTEE           123101                  31-Dec-01    $   205.03     $    205.03     PROPERTY ADDRESS BL000400

WEST VIRGINIA STATE
  TAX DEPARTMENT               123101                  31-Dec-01    $ 2,010.00     $  2,010.00     AMERICAN CLASSIC VOYAGES, INC.

WITHERS/SUDDATH RELOCATION
  SYSTEMS, INC                 145196                  30-Oct-01    $ 1,040.00     $     10.00     60 DOLLIE LOADS

TOTAL FOR LIABILITY ACCOUNT:                                        $81,401.54     $104,444.33

TOTAL FOR REPORT:                                                   $81,401.54     $104,444.33

CREDIT AMERICAN AIRLINES                                                           $   (360.34)

TOTAL A/P LIABILITY                                                                $104,083.99






DEBTOR:  AMCV CRUISE OPERATIONS, INC.              CASE NUMBER:  01-10967 (JCA)

                      PRELIMINARY MONTHLY OPERATING REPORT
                               AS OF MAY 31, 2002
                                      AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                     NOTES TO MAY MONTHLY OPERATING REPORT


The information contained herein is unaudited.

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.       The Debtor completed a sale of its fixed assets on May 31, 2002. In
         connection therewith, the Debtor recorded a loss on disposition of
         $8.1 million. This amount, which is included in reorganization
         expenses, is an estimate that will be adjusted when the Debtor
         receives a final allocation of the purchase price from the Purchaser.
         The asset purchase agreement allows the Purchaser sixty days to
         provide an allocation between the purchased assets.

EX-99.11

                                                                   EXHIBIT 99.11

DEBTOR:  CAT II, INC.                               CASE NUMBER:  01-10968 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 CAT II, Inc. was inactive for the above referenced
period and, to the best of my knowledge, the foregoing is true and correct.






/s/ STEVE MOELLER
- -------------------------------------
Steve Moeller
Director, Accounting

EX-99.12

                                                                   EXHIBIT 99.12


DEBTOR:  GREAT INDEPENDENCE SHIP CO.                CASE NUMBER:  01-10969 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.





/s/ STEVE MOELLER
- -----------------------------
Steve Moeller
Director, Accounting













DEBTOR: GREAT INDEPENDENCE SHIP CO.                 CASE NUMBER:  01-10969 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly Operating Report










  25-Jun-02                       Summary Of Bank And Investment Accounts                          Attachment 1
  11:07 AM                               Great Independence Ship Co.
Summary                                    Case No: 01-10969 (JCA)                                    UNAUDITED
Great Independence Ship Co.                For Month Of May, 2002

                                           Balances
                              ---------------------------------     Receipts &          Bank
                                  Opening            Closing       Disbursements     Statements         Account
Account                       As Of 5/01/02       As Of 5/31/02      Included          Included       Reconciled
- -------                       -------------       -------------      --------          --------       ----------
                                                                                       
Independence Steamer                0.00              0.00           No -              No -            No -
Bank of Hawaii                                                       Account           Account         Account
Account # - 0001-029126                                              Closed            Closed          Closed







  25-Jun-02                     Receipts & Disbursements           Attachment 2
  11:07 AM                    Great Independence Ship Co.
Summary                         Case No: 01-10969 (JCA)
Great Independence Ship Co.      For Month Of May, 2002
Attach 2


              No Receipts Or Disbursements - Account Closed








                                                                         
  25-Jun-02                   Concentration & Investment Account Statements    Attachment 3
  11:07 AM                          Great Independence Ship Co.
Summary                               Case No: 01-10969 (JCA)
Great Independence Ship Co.           For Month Of May, 2002
Attach 3




              No Statements Due To No Concentration Or Investment Accounts








AMCV US SET OF BOOKS                              Date: 27-JUN-02 16:30:30
INCOME STATEMENT - ATTACHMENT 4                   Page:   1
Current Period: MAY-02

currency USD
Company=54 (S.S. INDEPENDENCE)



                                                     PTD-Actual
                                                      31-May-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
Interest Expense                                           4,191.38
Equity in Earnings for Sub                                     0.00
Reorganization expenses                                        0.00
                                                 ------------------
Total Other Expense/(Income)                               4,191.38

                                                 ------------------
Net Pretax Income/(Loss)                                  (4,191.38)

Income Tax Expense                                             0.00

                                                 ------------------
Net Income/(Loss)                                         (4,191.38)
                                                 ==================







AMCV US SET OF BOOKS                             Date: 27-JUN-02 16:29:38
BALANCE SHEET - ATTACHMENT 5                     Page:   1
Current Period: MAY-02

currency USD
Company=54 (S.S. INDEPENDENCE)



                                                  YTD-Actual              YTD-Actual
                                                  31-May-02               22-Oct-01
                                             -------------------      ------------------
                                                                
ASSETS

Cash and Equivalent                                         0.00               64,505.83

Restricted Cash                                             0.00                    0.00

Accounts Receivable                                         0.00              175,538.74

Inventories                                         1,144,821.19            1,148,206.76

Prepaid Expenses                                            0.00                2,954.26

Other Current Assets                                        0.00               16,615.13

                                             -------------------      ------------------
Total Current Assets                                1,144,821.19            1,407,820.72


Fixed Assets                                       97,928,924.04           97,928,924.04

Accumulated Depreciation                          (44,272,667.29)         (44,272,667.29)

                                             -------------------      ------------------
Net Fixed Assets                                   53,656,256.75           53,656,256.75


Net Goodwill                                                0.00                    0.00

Intercompany Due To/From                          (17,755,365.00)         (17,643,280.88)

Net Deferred Financing Fees                           679,002.46              709,459.82

Net Investment in Subsidiaries                              0.00                    0.00

Total Other Assets                                (17,076,362.54)         (16,933,821.06)

                                             -------------------      ------------------
Total Assets                                       37,724,715.40           38,130,256.41
                                             ===================      ==================




AMCV US SET OF BOOKS                                  Date: 27-JUN-02 16:29:38
BALANCE SHEET - ATTACHMENT 5                          Page:   2
Current Period: MAY-02

currency USD
Company=54 (S.S. INDEPENDENCE)



                                                  YTD-Actual              YTD-Actual
                                                  31-May-02               22-Oct-01
                                              ------------------      ------------------
                                                                
LIABILITIES

Accounts Payable                                            0.00                    0.00

Accrued Liabilities                                         0.00               31,544.34

Deposits                                                    0.00                    0.00

                                              ------------------      ------------------
Total Current Liabilities                                   0.00               31,544.34


Long Term Debt                                              0.00                    0.00

Other Long Term Liabilities                         1,266,494.79            1,266,494.79

                                              ------------------      ------------------
Total Liabilities                                   1,266,494.79            1,298,039.13


OTHER

Liabilities Subject to Compromise                  32,349,773.96           32,372,521.16

                                              ------------------      ------------------
Total Other                                        32,349,773.96           32,372,521.16


OWNER'S EQUITY

Common Stock                                            1,000.00                1,000.00

Add'l Paid In Capital                              17,616,000.00           17,616,000.00

Current Net Income (Loss)                             (43,533.40)          (9,694,324.85)

Retained Earnings                                 (13,465,019.95)          (3,462,979.03)

                                              ------------------      ------------------
Total Owner's Equity                                4,108,446.65            4,459,696.12

                                              ------------------      ------------------
Total Liabilities & Equity                         37,724,715.40           38,130,256.41
                                              ==================      ==================












                                                                                  
Great Independence Ship Co.                              ATTACHMENT 6                   01-10969 (JCA)
                                          Summary List of Due To/Due From Accounts
                                               For the Month Ended May 31, 2002







                                                                BEGINNING                                            ENDING
AFFILIATE NAME                             CASE NUMBER           BALANCE             DEBITS      CREDITS             BALANCE
                                                                                                  
American Classic Voyages Co.                 01-10954        (24,948,774.58)            --          --           (24,948,774.58)
AMCV Cruise Operations, Inc.                 01-10967        (36,656,636.93)            --          --           (36,656,636.93)
The Delta Queen Steamboat Co.                01-10970             83,084.83             --          --                83,084.83
Great AQ Steamboat, L.L.C                    01-10960              4,881.60             --          --                 4,881.60
Great Ocean Cruise Line, L.L.C               01-10959              2,195.09             --          --                 2,195.09
Cruise America Travel, Incorporated          01-10966            (16,321.27)            --          --               (16,321.27)
Cape Cod Light, L.L.C                        01-10962            (32,099.49)            --          --               (32,099.49)
Project America, Inc.                        N/A                  21,415.35             --          --                21,415.35
Oceanic Ship Co.                             N/A               1,172,074.09             --          --             1,172,074.09
Project America Ship I, Inc.                 N/A                 277,329.74             --          --               277,329.74
Great Hawaiian Cruise Line, Inc.             01-10975         24,699,040.96             --          --            24,699,040.96
Great Hawaiian Properties Corporation        01-10971         28,898,393.97             --          --            28,898,393.97
American Hawaii Properties Corporation       01-10976            542,250.76             --          --               542,250.76
CAT II, Inc.                                 01-10968        (11,802,199.12)            --          --           (11,802,199.12)
                                                           --------------------------------------------------------------------
                                                             (17,755,365.00)            --          --           (17,755,365.00)
                                                           ====================================================================






                           Great Independence Ship Co.
                                 01-10969 (JCA)




                            Accounts Receivable Aging
                               As of May 31, 2002







                                  Attachment 7


                                 Not Applicable






                           Great Independence Ship Co.
                                 01-10969 (JCA)




                             Accounts Payable Detail
                               As of May 31, 2002







                                  Attachment 8


                                 Not Applicable






DEBTOR:  GREAT INDEPENDENCE SHIP CO.                CASE NUMBER:  01-10969 (JCA)


                      PRELIMINARY MONTHLY OPERATING REPORT
                               AS OF MAY 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                     NOTES TO MAY 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.       On October 22, 2001, the Debtor ceased all operations, and the U.S.
         Maritime Administration took possession of the ss Independence, the
         Debtor's primary asset, in connection with the uncontested foreclosure
         of its marine lien on the vessel. In connection therewith, the Debtor
         ceased recording depreciation expense and ceased accruing for the next
         scheduled dry-dock.

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.       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.

4.       Food and beverage inventories for the ss Independence have been
         adjusted to reflect physical inventory counts on board the ship on
         October 20, 2001. All other inventory values are based on information
         contained in the computer systems.

EX-99.13

                                                                   EXHIBIT 99.13


DEBTOR: THE DELTA QUEEN STEAMBOAT COMPANY            CASE NUMBER: 01-10970 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.



/s/ STEVE MOELLER
- -----------------------
Steve Moeller
Director, Accounting











DEBTOR: THE DELTA QUEEN STEAMBOAT COMPANY            CASE NUMBER: 01-10970 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly Operating Report






                                                                                
28-Jun-02                      Summary Of Bank And Investment Accounts                Attachment 1
 1:58 PM                           The Delta Queen Steamboat Co.
Summary                               Case No: 01-10970 (JCA)                            UNAUDITED
The Delta Queen Steamboat Co.         For Month Of May, 2002






                                                              Balances
                                                  ---------------------------------    Receipts &        Bank
                                                    Opening              Closing       Disbursements     Statements     Account
Account                                           As Of 5/01/02       As Of 5/31/02    Included          Included       Reconciled
- -------                                           -------------       -------------    -------------     ----------     ----------
                                                                                                         
Delta Queen Controlled Disb                          1,880.00            7,166.96      Yes               Yes            Yes
Hibernia
Account # - 542027373

Delta Queen Master Cash                            128,924.83          250,991.17      Yes               Yes            Yes
Hibernia
Account # - 812-395-335

Delta Queen Payroll                                 21,560.90           58,433.00      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                                       5,817.43            1,818.21      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                        70,786.19          120,808.76      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                     1,025,906.60                0.00      Yes               No - Not       Yes
Escrow Account                                                                                           Concentration
LaSalle                                                                                                  Account
Account # - 62-8930-70-3

The Delta Queen Steamboat Co                             0.00          750,000.00      Yes               No - Not       Yes
Escrow Account - DQ/DN IDCC                                                                              Concentration
LaSalle                                                                                                  Account
Account # - 62-9003-40-1

The Delta Queen Steamboat Co                             0.00          250,000.00      Yes               No - Not       Yes
Escrow Account - DQ/DN - Seller Proration                                                                Concentration
LaSalle                                                                                                  Account
Account # - 62-9003-42-7





                                                                                  
 28-Jun-02                             Receipts & Disbursements                         Attachment 2-1
  4:32 PM                           The Delta Queen Steamboat Co.
R&D - Hibernia                         Case No: 01-10970 (JCA)                                UNAUDITED
DQ Controlled Disb                            Hibernia
                                      Controlled Disbursements
                                       Account # - 542027373
                                        1 May 02 - 31 May 02




                                                  
Opening Balance - 1 May 02
                                          1,880.00

Receipts
                                        753,491.84      From The Delta Queen Steam Boat Co. -
                                                          Hibernia - DQSC Master Cash - Account (812-395-335)
                                        (15,511.45)     Reversal Back To The Delta Queen Steam Boat Co. -
                                                          Hibernia - DQSC Master Cash - Account (812-395-335)
                                        ----------
                                        737,980.39      Total Receipts

Disbursements

                                        (33,230.11)     Crew Maintenance & Medical
                                       (223,710.38)     Lay-Up
                                         (2,074.45)     Office - Chicago
                                        (18,855.62)     Office - NOLA
                                         (2,695.38)     Office - Weston
                                        (34,994.90)     Payroll Benefits
                                         (1,350.00)     Coast Guard Fees
                                        (64,004.69)     Professional Fees
                                         (6,958.40)     Refunds
                                         (4,540.64)     SG&A - Finance
                                         (3,170.98)     SG&A - Hotel Ops
                                         (9,600.35)     SG&A - HR
                                        (23,683.06)     SG&A - IT
                                         (1,640.00)     SG&A - Legal
                                           (284.50)     SG&A - Marine Ops
                                         (3,846.25)     SG&A - Passenger Services
                                        (10,056.16)     SG&A - Risk
                                        (32,372.52)     SG&A - Sales & Marketing
                                        (28,621.15)     Start-Up - MQ
                                         (3,810.68)     Vessel Ops - MQ (Pre-May 7)
                                         (6,753.43)     Other Vessel Expense - Legal
                                        (25,583.86)     Other Vessel Expense - Tie-Up
                                        -----------
                                       (541,837.51)     Total Disbursements (* See Footnote)


Closing Balance - 31 May 02
                                          7,166.96



*$190,855.92 Of Disbursements Not Reflected In Disbursements Above Due To Being
Reimbursed By Buyer Of Assets At Closing.




                                                                              
  28-Jun-02                        Receipts & Disbursements                         Attachment 2-2
   4:35 PM                      The Delta Queen Steamboat Co.
R&D - Hibernia                    Case No: 01-10970 (JCA)                                UNAUDITED
DQ Master Cash                           Hibernia
                                     DQ Master Cash
                                  Account # - 812-395-335
                                    1 May 02 - 31 May 02




                                                
Opening Balance - 1 May 02
                                     128,924.83

Receipts
                                   2,050,000.00       From American Classic Voyages Co - Credit Suisse
                                                        Asset Management - Account (247003452)
                                     296,000.00       From AMCV Cruise Operations, Inc. - First Union -
                                                        AMCV Cruise Ops Master Cash - Account (2090002602362)
                                     400,762.61       From Cape May Light L.L.C. - Hibernia  Investments L.L.C. -
                                                        Cape May Light Security - Account (4R6-771783)
                                      15,511.45       From The Delta Queen Steam Boat Co. -
                                                        Hibernia - DQSC Contr. Disb. - Account (542027373)
                                     353,543.74       Misc Deposits - Primarily FY 02 Voyage Deposits
                                      84,601.80       From Great Ocean Cruise Line, L.L.C.
                                                        MQ Petty Cash
                                   3,200,419.60       Total Receipts
                                  -------------
                                      61,000.00
Disbursements
                                    (753,491.84)      To The Delta Queen Steam Boat Co. -
                                                        Hibernia - DQSC Contr. Disb. - Account (542027373)
                                     (75,000.00)      To Great Ocean Cruise Line, L.L.C. - Hibernia
                                                        MQ Steamer - Account (812-502-719)
                                    (210,000.00)      To Great Ocean Cruise Line, L.L.C.
                                                        MQ Petty Cash
                                    (122,233.45)      To The Delta Queen Steam Boat Co. - LaSalle
                                                        DQSC FMC Escrow - Account (62-8930-70-3)
                                     (13,627.22)      401K Payroll Payments
                                        (152.93)      To American Classic Voyages Co. - Chase -
                                                        AMCV Medical Benefits - Account (002-2-426522)
                                     (50,000.00)      To The Delta Queen Steam Boat Co. - Hibernia -
                                                        DQSC Receipts - Account (882-390-047)
                                    (710,000.00)      To The Delta Queen Steam Boat Co. - Hibernia -
                                                        DQ Payroll - Account (812-395-289)
                                    (410,000.00)      To Great River Cruise Line, LLC - Hibernia -
                                                        DQ Steamer - Account (812-395-270)
                                     (70,207.49)      Insurance
                                    (453,564.50)      Professional Fees
                                         (83.13)      Bank Fees
                                     (23,920.00)      I.T. Support
                                      (3,621.33)      Employee Replacement Checks
                                        (253.39)      U.P.S.
                                  --------------
                                  (2,896,155.28)      Total Disbursements (* See Footnote)

Closing Balance - 31 May 02
                                     250,991.17



*$182,197.98 Of Disbursements Not Reflected In Disbursements Above Due To Being
Reimbursed By Buyer Of Assets At Closing.




                                                                              
 28-Jun-02                     Receipts & Disbursements                             Attachment 2-3
  4:36 PM                    The Delta Queen Steamboat Co.
R&D - Hibernia                  Case No: 01-10970 (JCA)                                  UNAUDITED
DQ Payroll                            Hibernia
                                     DQ Payroll
                               Account # - 812-395-289
                                1 May 02 - 31 May 02




                                                 
Opening Balance - 1 May 02
                                        21,560.90

Receipts
                                       710,000.00      From The Delta Queen Steam Boat Co. -
                                                         Hibernia - DQSC Master Cash - Account (812-395-335)
                                        50,000.00      From Great Ocean Cruise Line - Hibernia -
                                                         MQ Steamer - Account (812-502-719)
                                         2,121.33      ACH Reversal
                                       ----------
                                       762,121.33      Total Receipts

Disbursements

                                      (635,998.59)     Payroll - Wires & Checks

                                      -----------
                                      (635,998.59)     Total Disbursements (* See Footnote)

Closing Balance - 31 May 02
                                        58,433.00





* $89,250.64 Of Disbursements Not Reflected In Disbursements Above Due to Being
Reimbursed By Buyer Of Assets At Closing.





                                                                               
  28-Jun-02                          Receipts & Disbursements                        Attachment 2-4
   2:01 PM                         The Delta Queen Steamboat Co.
R&D - BankOne                         Case No: 01-10970 (JCA)                             UNAUDITED
DQ Credit Cards                            Bank One
                                     Delta Queen Credit Cards
                                   Account # - 552-0110062868
                                       1 May 02 - 31 May 02




                                              
Opening Balance - 1 May 02

                                       5,817.43


Receipts
                                      ---------
                                           0.00    Total Receipts


Disbursements

                                      (3,999.22)   Bank Fees - Most To Be Reversed In June

                                      ---------
                                      (3,999.22)


Closing Balance - 31 May 02
                                       1,818.21







                                                                         
 28-Jun-02                        Receipts & Disbursements                     Attachment 2-5
  4:40 PM                       The Delta Queen Steamboat Co.
R&D - Hibernia                     Case No: 01-10970 (JCA)                          UNAUDITED
DQSC Receipts                           Hibernia
                                     DQSC Receipts
                                 Account # - 882-390-047
                                  1 May 02 - 31 May 02



                                              
Opening Balance - 1 May 02
                                    70,786.19

Receipts
                                    50,000.00       From The Delta Queen Steamboat Co - Hibernia -
                                                      DQ Master Cash - Account (812-395-335)
                                    99,036.35       Paymentech Return Of Refunds Erroneously
                                                      Withdrawn Previously
                                                    Credit Card Chargeback Reversals
                                       145.62       Chargeback Reversals

                                   ----------
                                   149,181.97       Total Receipts

Disbursements

                                      (456.65)      Credit Card Processor Fees
                                      (904.77)      Credit Card Chargeback

                                   ----------
                                    (1,361.42)      Total Disbursements (* See Footnote)

Closing Balance - 31 May 02
                                   120,808.76




* $97,797.98 Of Disbursements Not Reflected In Disbursements Above Due To Being
Reimbursed By Buyer Of Assets At Closing.




                                                                            
 28-Jun-02                         Receipts & Disbursements                       Attachment 2-6
  4:41 PM                        The Delta Queen Steamboat Co.
R&D - LaSalle                      Case No: 01-10970 (JCA)                             UNAUDITED
DQSC Escrow                                LaSalle
                                        DQSC Escrow
                                   Account # - 62-8930-70-3
                                     1 May 02 - 31 May 02




                                                 
Opening Balance - 1 May 02
                                     1,025,906.60

Receipts
                                       122,233.45      From The Delta Queen Steamboat Company - Hibernia -
                                                         DQ Master Cash Account (812-395-335)
                                           780.39      Interest Income

                                     ------------
                                       123,013.84      Total Receipts

Disbursements
                                     ------------
                                             0.00      Total Disbursements (* See Footnote)


Closing Balance - 31 May 02
                                             0.00





*$1,148,920.44 Of Disbursements Not Reflected In Disbursements Above Due To
Being Reimbursed By Buyer Of Assets At Closing.





                                                                               
  28-Jun-02                       Receipts & Disbursements                           Attachment 2-7
   2:12 PM                     The Delta Queen Steamboat Co.
R&D - LaSalle                    Case No: 01-10970 (JCA)                                UNAUDITED
DQ-DN IDCC Escrow                       LaSalle
                                    DQ-DN IDCC Escrow
                                Account # - 62-9003-40-1
                                   1 May 02 - 31 May 02




                                              
Opening Balance - 1 May 02

                                         0.00


Receipts
                                   750,000.00       From Delaware North

                                   ----------
                                   750,000.00       Total Receipts


Disbursements

                                   ----------
                                         0.00      Total Disbursements

Closing Balance - 31 May 02
                                   750,000.00






                                                                                  
 28-Jun-02                              Receipts & Disbursements                        Attachment 2-7
  2:14 PM                            The Delta Queen Steamboat Co.
R&D - LaSalle                            Case No: 01-10970 (JCA)                             UNAUDITED
DQ-DN Seller proration Escrow                  LaSalle
                                    DQ-DN Seller Proration Escrow
                                       Account # - 62-9003-42-7
                                         1 May 02 - 31 May 02



                                              
Opening Balance - 1 May 02
                                         0.00

Receipts

                                   250,000.00       From Delaware North

                                   ----------
                                   250,000.00       Total Receipts

Disbursements
                                   ----------
                                         0.00       Total Disbursements


Closing Balance - 31 May 02
                                   250,000.00








AMCV US SET OF BOOKS                                 Date: 27-JUN-02 16:30:33
INCOME STATEMENT - ATTACHMENT 4                      Page:   1
Current Period: MAY-02

currency USD
Company=20 (DELTA QUEEN STEAM CO)



                                            PTD-Actual
                                            31-May-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                                  40,399.04

                                           ------------
Operating Income                             (40,399.04)

Other Expense/(Income)
Interest Income                                    0.00
Equity in Earnings for Sub                 2,685,831.01
Reorganization expenses                    2,077,283.11
                                           ------------
Total Other Expense/(Income)                (608,547.90)

                                           ------------
Net Pretax Income/(Loss)                     568,148.86

Income Tax Expense                                 0.00

                                           ------------
Net Income/(Loss)                            568,148.86
                                           ============






AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:41
BALANCE SHEET - ATTACHMENT 5                           Page:   1
Current Period: MAY-02

currency USD
Company=20 (DELTA QUEEN STEAM CO)




                                       YTD-Actual           YTD-Actual
                                        31-May-02            22-Oct-01
                                      -------------        -------------
                                                     
ASSETS

Cash and Equivalent                      288,200.93         2,494,983.63

Restricted Cash                        1,000,000.00                 0.00

Accounts Receivable                      264,161.02                 0.00

Inventories                                    0.00           840,779.06

Prepaid Expenses                               0.00            13,147.33

Other Current Assets                           0.00                 0.00

                                      -------------        -------------
Total Current Assets                   1,552,361.95         3,348,910.02

Fixed Assets                                   0.00         8,202,345.75

Accumulated Depreciation                       0.00        (5,195,800.16)

                                      -------------        -------------
Net Fixed Assets                               0.00         3,006,545.59

Net Goodwill                                   0.00                 0.00

Intercompany Due To/From              42,151,633.02        37,437,552.28

Net Deferred Financing Fees                    0.00             5,434.15

Net Investment in Subsidiaries        33,288,180.97        33,999,708.26

                                      -------------        -------------
Total Other Assets                    75,439,813.99        71,442,694.69

                                      -------------        -------------
Total Assets                          76,992,175.94        77,798,150.30
                                      =============        =============






AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:41
BALANCE SHEET - ATTACHMENT 5                           Page:  2
Current Period: MAY-02

currency USD
Company=20 (DELTA QUEEN STEAM CO)



                                           YTD-Actual            YTD-Actual
                                           31-May-02             22-Oct-01
                                         -------------         -------------
                                                         
LIABILITIES

Accounts Payable                                  0.00                  0.00

Accrued Liabilities                       2,302,416.76                  0.00

Deposits                                          0.00                  0.00

                                         -------------         -------------
Total Current Liabilities                 2,302,416.76                  0.00


Long Term Debt                                    0.00                  0.00

Other Long Term Liabilities               9,993,779.93          9,993,779.93

                                         -------------         -------------
Total Liabilities                        12,296,196.69          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)                (2,237,384.62)        (2,866,520.92)

Retained Earnings                        32,790,195.48         36,527,722.90

                                         -------------         -------------
Total Owner's Equity                     64,118,143.57         67,226,534.69

                                         -------------         -------------
Total Liabilities & Equity               76,992,175.94         77,798,150.30
                                         =============         =============




The Delta Queen Steamboat Co.                                     01-10970 (JCA)
                                 ATTACHMENT 6
                   Summary List of Due To/Due From Accounts
                       For the Month Ended May 31, 2002



                                                                 BEGINNING                                              ENDING
AFFILIATE NAME                              CASE NUMBER          BALANCE           DEBITS          CREDITS             BALANCE
                                                                                                    
American Classic Voyages Co.                01-10954          (6,324,564.18)       22,302.71               -        (6,302,261.47)
AMCV Cruise Operations, Inc.                01-10967         102,596,577.85    35,681,482.88    4,413,407.03       133,864,653.70
Great AQ Steamboat, L.L.C.                  01-10960         (17,085,065.28)       11,565.82   21,835,498.73       (38,908,998.19)
Great Pacific NW Cruise Line, L.L.C.        01-10977          (8,422,821.07)        6,418.44               -        (8,416,402.63)
Great River Cruise Line, L.L.C.             01-10963          (6,758,836.66)    1,078,422.25    4,741,570.12       (10,421,984.53)
Great Ocean Cruise Line, L.L.C.             01-10959         (17,986,662.31)    7,829,192.16    7,478,139.95       (17,635,610.10)
Cruise America Travel, Incorporated         01-10966             309,751.39        79,602.43      132,850.00           256,503.82
Delta Queen Coastal Voyages, L.L.C.         01-10964            (519,611.16)       14,128.56      400,541.48          (906,024.08)
Cape Cod Light, L.L.C.                      01-10962          (1,404,059.37)               -               -        (1,404,059.37)
Cape May Light, L.L.C.                      01-10961          (8,431,118.53)               -               -        (8,431,118.53)
Project America, Inc.                       N/A               (2,935,356.03)        1,008.00               -        (2,934,348.03)
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              (7,057.02)               -               -            (7,057.02)
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)
                                                             ---------------------------------------------------------------------
                                                              36,429,517.08    44,724,123.25   39,002,007.31        42,151,633.02
                                                             =====================================================================







THE DELTA QUEEN STEAMBOAT COMPANY                       CASE #:  01-10970 (JCA)

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING






DETAIL:                                       0-30 DAYS        31-60 DAYS        61-90 DAYS        91+ DAYS          TOTAL
                                                                                                   

Paymentech Credit Card Processor               8,199.26                                                              8,199.26
American Express Credit Card Processor                                                                                   0.00
Discover Credit Card Processor                                                                                           0.00
Diners Credit Card Processor                                                                                             0.00
Travel Agents                                                                                                            0.00
Delaware North Companies                     255,961.76                                                            255,961.76

                                             ----------        -----------       -----------      ----------       ----------
Total                                        264,161.02               0.00              0.00            0.00       264,161.02
                                             ==========        ===========       ===========      ==========       ==========





                                                                 ATTACHMENT # 7





                        The Delta Queen Steamboat Company
                                 01-10970 (JCA)




                             Accounts Payable Detail
                               As of May 31, 2002







                                  Attachment 8


                                 Not Applicable





DEBTOR: THE DELTA QUEEN STEAMBOAT COMPANY          CASE NUMBER:  01-10970 (JCA)

                      PRELIMINARY MONTHLY OPERATING REPORT
                               AS OF MAY 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                     NOTES TO MAY MONTHLY OPERATING REPORT


The information contained herein is unaudited.

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.       The Debtor completed a sale of its fixed assets and inventories on May
         31, 2002. In connection therewith, the Debtor recorded a loss on
         disposition of $2.1 million. This amount, which is included in
         reorganization expenses, is an estimate that will be adjusted when the
         Debtor receives a final allocation of the purchase price from the
         Purchaser. The asset purchase agreement allows the Purchaser sixty days
         to provide an allocation between the purchased assets.

2.       The asset sale has resulted in several timing differences that have
         been reflected on the Debtor's books. Pursuant to the asset purchase
         agreement, a $1 million escrow has been set-up. A receivable has been
         established for monies due from the Purchaser subject to final
         calculation of all closing adjustments. An accrual has been recorded in
         the amount of $1.9 million to reflect fees and commission incurred in
         connection with the sale.

3.       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.

EX-99.14

                                                                  EXHIBIT 99.14


DEBTOR: GREAT HAWAIIAN PROPERTIES CORPORATION       CASE NUMBER: 01-10971 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.


/s/ STEVE MOELLER
- ---------------------------
Steve Moeller
Director, Accounting





DEBTOR: GREAT HAWAIIAN PROPERTIES CORPORATION       CASE NUMBER: 01-10971 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly Operating Report





28-Jun-02              Summary Of Bank And Investment Accounts     Attachment 1
2:17 PM                Great Hawaiian Properties Corporation
Summary                     Case No: 01-10971 (JCA)                   UNAUDITED
Great Hawaiian              For Month Of May, 2002
Properties Corp



                                               Balances
                                     ------------------------------       Receipts &        Bank
                                        Opening          Closing        Disbursements     Statements       Account
Account                              As Of 5/01/02    As Of 5/31/02       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             900.00         1,500.00           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           (15.00)          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.                                                       Account           Account         Account
Account # - 020-33478-5                                                   Closed            Closed          Closed






28-Jun-02                   Receipts & Disbursements             Attachment 2-1
2:22 PM              Great Hawaiian Properties Corporation
R&D - Bank One            Case No: 01-10971 (JCA)                     UNAUDITED
AHC Mainland                      Bank One
Credit Cards             AHC Mainland Credit Cards
                         Account # - 552-0110521579
                            1 May 02 - 31 May 02


                                              
Opening Balance - 1 May 02
                                       900.00


Receipts

                                       600.00       Receipts From Credit Card Chargeback Reversals



                                     --------
                                       600.00       Total Receipts


Disbursements



                                     --------
                                         0.00       Total Disbursements


Closing Balance - 31 May 02
                                     1,500.00







28-Jun-02                    Receipts & Disbursements            Attachment 2-2
2:25 PM              Great Hawaiian Properties Corporation
R&D - Bank One              Case No: 01-10971 (JCA)                   UNAUDITED
AHC Honolulu                     Bank One
Credit Cards             AHC Honolulu Credit Cards
                         Account # - 552-0110572580
                           1 May 02 - 31 May 02


                                           
Opening Balance - 1 May 02
                                      0.00


Receipts



                                    ------
                                      0.00       Total Receipts


Disbursements

                                    (15.00)      Bank Fees - Account Being Left Open For Occasional
                                                 Prior Year Credit Card Chargeback Reversal



                                    ------
                                    (15.00)      Total Disbursements



Closing Balance - 31 May 02
                                    (15.00)







28-Jun-02                 Concentration & Investment               Attachment 3
2:17 PM                       Account Statements
Summary              Great Hawaiian Properties Corporation
Great Hawaiian             Case No: 01-10971 (JCA)
Properties Corp            For Month Of May, 2002
Attach 3


          No Statements Due To No Concentration Or Investment Accounts





AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:30:34
INCOME STATEMENT - ATTACHMENT 4                        Page:   1
Current Period: MAY-02

currency USD
Company=51 (AHC - OPERATIONS)




                              PTD-Actual
                              31-May-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         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: 27-JUN-02 16:29:42
BALANCE SHEET - ATTACHMENT 5                           Page:   1
Current Period: MAY-02

currency USD
Company=51 (AHC - OPERATIONS)




                                       YTD-Actual        YTD-Actual
                                       31-May-02         22-Oct-01
                                     -------------     -------------

                                                 
ASSETS

Cash and Equivalent                       1,500.00        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                      1,500.00        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             21,009,106.76     20,319,892.39

Net Deferred Financing Fees                   0.00              0.00

Net Investment in Subsidiaries                0.00              0.00

                                     -------------     -------------
Total Other Assets                   21,009,106.76     20,319,892.39

                                     -------------     -------------
Total Assets                         21,010,606.76     21,328,913.50
                                     =============     =============







AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:42
BALANCE SHEET - ATTACHMENT 5                           Page:   2
Current Period: MAY-02

currency USD
Company=51 (AHC - OPERATIONS)




                                       YTD-Actual        YTD-Actual
                                       31-May-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                    ATTACHMENT 6                   01-10971 (JCA)
Properties Corp.              Summary List of Due To/
                                Due From Accounts
                         For the Month Ended May 31, 2002




                                                                BEGINNING                                         ENDING
AFFILIATE NAME                               CASE NUMBER         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         (3,599,435.73)       --           600.00        (3,600,035.73)
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
                                                             --------------      ----           ------       --------------
                                                              21,009,706.76        --           600.00        21,009,106.76
                                                             ==============      ====           ======       ==============






                     Great Hawaiian Properties Corporation
                                 01-10971 (JCA)




                           Accounts Receivable Aging
                               As of May 31, 2002







                                  Attachment 7


                                 Not Applicable





                     Great Hawaiian Properties Corporation
                                 01-10971 (JCA)




                            Accounts Payable Detail
                               As of May 31, 2002







                                  Attachment 8


                                 Not Applicable





DEBTOR: GREAT HAWAIIAN PROPERTIES CORPORATION       CASE NUMBER: 01-10971 (JCA)

                      PRELIMINARY MONTHLY OPERATING REPORT
                               AS OF MAY 31, 2002
                                      AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                     NOTES TO MAY 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.

EX-99.15

                                                                  EXHIBIT 99.15


DEBTOR:  OCEAN DEVELOPMENT CO.                     CASE NUMBER:  01-10972 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 Ocean Development Co. was inactive for the above
referenced period and, to the best of my knowledge, the foregoing is true and
correct.


/s/ STEVE MOELLER
- -----------------------
Steve Moeller
Director, Accounting

EX-99.16

                                                                  EXHIBIT 99.16


DEBTOR:  AMCV HOLDINGS, INC.                       CASE NUMBER:  01-10973 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.


/s/ STEVE MOELLER
- -------------------------
Steve Moeller
Director, Accounting





DEBTOR:  AMCV HOLDINGS, INC.                       CASE NUMBER:  01-10973 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly Operating Report





28-Jun-02             Summary Of Bank And Investment Accounts      Attachment 1
2:30 PM                       AMCV Holdings, Inc.
Summary                     Case No: 01-10973 (JCA)                   UNAUDITED
AMCV Holdings, Inc.         For Month Of May, 2002




                                       Balances
                              ------------------------------     Receipts &         Bank
                                 Opening          Closing       Disbursements     Statements        Account
Account                       As Of 5/01/02    As Of 5/31/02      Included         Included        Reconciled
- -------                       -------------    -------------    -------------     ----------       ----------
                                                                                    
No Bank Or Investment                NA              NA               NA              NA               NA
Accounts






28-Jun-02                  Receipts & Disbursements                Attachment 2
2:30 PM                       AMCV Holdings, Inc.
Summary                     Case No: 01-10973 (JCA)
AMCV Holdings, Inc.         For Month Of May, 2002
Attach 2


       No Receipts Or Disbursements Due To No Bank Or Investment Accounts





28-Jun-02                   Concentration & Investment             Attachment 3
2:30 PM                         Account Statements
Summary                        AMCV Holdings, Inc.
AMCV Holdings, Inc.          Case No: 01-10973 (JCA)
Attach 3                      For Month Of May, 2002


          No Statements Due To No Concentration Or Investment Accounts





AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:30:34
INCOME STATEMENT - ATTACHMENT 4                        Page:   1
Current Period: MAY-02

currency USD
Company=12 (AMCV - HOLDINGS)




                               PTD-Actual
                               31-May-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     (8,894.39)
Reorganization expenses             0.00
                                --------
Total Other Expense/(Income)    8,894.39

                                --------
Net Pretax Income/(Loss)       (8,894.39)

Income Tax Expense                  0.00

                                --------
Net Income/(Loss)              (8,894.39)
                                ========






AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:43
BALANCE SHEET - ATTACHMENT 5                           Page:   1
Current Period: MAY-02

currency USD
Company=12 (AMCV - HOLDINGS)




                                      YTD-Actual        YTD-Actual
                                       31-May-02         22-Oct-01
                                     -------------     -------------

                                                 
ASSETS

Cash and Equivalent                           0.00              0.00

Restricted Cash                               0.00              0.00

Accounts Receivable                           0.00              0.00

Inventories                                   0.00              0.00

Prepaid Expenses                              0.00              0.00

Other Current Assets                          0.00              0.00

                                     -------------     -------------
Total Current Assets                          0.00              0.00


Fixed Assets                                  0.00              0.00

Accumulated Depreciation                      0.00              0.00

                                     -------------     -------------
Net Fixed Assets                              0.00              0.00


Net Goodwill                                  0.00              0.00

Intercompany Due To/From                      0.00              0.00

Net Deferred Financing Fees                   0.00              0.00

Net Investment in Subsidiaries       (2,686,109.08)      (918,077.34)

                                     -------------     -------------
Total Other Assets                   (2,686,109.08)      (918,077.34)

                                     -------------     -------------
Total Assets                         (2,686,109.08)      (918,077.34)
                                     =============     =============






AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:43
BALANCE SHEET - ATTACHMENT 5                           Page:   2
Current Period: MAY-02

currency USD
Company=12 (AMCV - HOLDINGS)




                                      YTD-Actual        YTD-Actual
                                       31-May-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                   0.00              0.00

                                     -------------     -------------
Total Liabilities                             0.00              0.00


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                79,208,059.85     79,208,059.85

Current Net Income (Loss)            (2,500,318.63)   (13,500,663.21)

Retained Earnings                   (79,403,290.55)   (66,634,914.23)

                                     -------------     -------------
Total Owner's Equity                 (2,686,109.08)      (918,077.34)

                                     -------------     -------------
Total Liabilities & Equity           (2,686,109.08)      (918,077.34)
                                     =============     =============






AMCV Holdings, Inc.               ATTACHMENT 6                   01-10973 (JCA)
                              Summary List of Due To/
                                Due From Accounts
                         For the Month Ended May 31, 2002




                                                     BEGINNING                                      ENDING
AFFILIATE NAME                       CASE NUMBER      BALANCE        DEBITS        CREDITS         BALANCE
                                                                                  
AMCV Cruise Operations, Inc.         01-10967        638,723.36            --        585.00       638,138.36
Project America, Inc.                N/A            (457,361.14)           --            --      (457,361.14)
Great Hawaiian Cruise Line, Inc.     01-10975       (181,362.22)       585.00            --      (180,777.22)
                                                    -----------        ------        ------      ------------
                                                             --        585.00        585.00               --
                                                    ===========        ======        ======      ============






                              AMCV Holdings, Inc.
                                 01-10973 (JCA)




                           Accounts Receivable Aging
                               As of May 31, 2002







                                  Attachment 7


                                 Not Applicable





                              AMCV Holdings, Inc.
                                 01-10973 (JCA)




                            Accounts Payable Detail
                               As of May 31, 2002







                                  Attachment 8


                                 Not Applicable





DEBTOR:  AMCV HOLDINGS, INC.                       CASE NUMBER:  01-10973 (JCA)

                      PRELIMINARY MONTHLY OPERATING REPORT
                               AS OF MAY 31, 2002
                                      AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                     NOTES TO MAY 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.

EX-99.17

                                                                  EXHIBIT 99.17


DEBTOR:  DQSB II, INC.                             CASE NUMBER:  01-10974 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.


/s/ STEVE MOELLER
- ------------------------
Steve Moeller
Director, Accounting





DEBTOR:  DQSB II, INC.                             CASE NUMBER:  01-10974 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly Operating Report





28-Jun-02            Summary Of Bank And Investment Accounts       Attachment 1
2:32 PM                        DQSB II, Inc.
Summary                   Case No: 01-10974 (JCA)                     UNAUDITED
DQSB II, Inc.             For Month Of May, 2002




                                        Balances
                              ------------------------------     Receipts &           Bank
                                  Opening          Closing      Disbursements       Statements           Account
Account                       As Of 5/01/02    As Of 5/31/02      Included           Included           Reconciled
- -------                       -------------    -------------    -------------       ----------          ----------
                                                                                         
No Bank Or Investment              NA               NA              NA                 NA                  NA
Accounts






28-Jun-02                  Receipts & Disbursements                Attachment 2
2:32 PM                         DQSB II, Inc.
Summary                    Case No: 01-10974 JCA)
DQSB II, Inc.               For Month Of May, 2002
Attach 2


       No Receipts Or Disbursements Due To No Bank Or Investment Accounts





28-Jun-02         Concentration & Investment Account Statements    Attachment 3
2:32 PM                        DQSB II, Inc.
Summary                   Case No: 01-10974 (JCA)
DQSB II, Inc.             For Month Of May, 2002
Attach 3


          No Statements Due To No Concentration Or Investment Accounts





AMCV US SET OF BOOKS                                   Date: 27-JUN-02 17:31:07
INCOME STATEMENT - ATTACHMENT 4                        Page:   1
Current Period: MAY-02

currency USD
Company=60 (DELTA QUEEN SC II)




                                PTD-Actual
                                31-May-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      26,503.39
Reorganization expenses              0.00
                                ---------
Total Other Expense/(Income)   (26,503.39)

                                ---------
Net Pretax Income/(Loss)        26,503.39

Income Tax Expense                   0.00

                                ---------
Net Income/(Loss)               26,503.39
                                =========






AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:46
BALANCE SHEET - ATTACHMENT 5                           Page:   1
Current Period: MAY-02

currency USD
Company=60 (DELTA QUEEN SC II)




                                     YTD-Actual     YTD-Actual
                                     31-May-02      22-Oct-01
                                     ----------     ----------

                                              
ASSETS

Cash and Equivalent                        0.00           0.00

Restricted Cash                            0.00           0.00

Accounts Receivable                        0.00           0.00

Inventories                                0.00           0.00

Prepaid Expenses                           0.00           0.00

Other Current Assets                       0.00           0.00

                                     ----------     ----------
Total Current Assets                       0.00           0.00


Fixed Assets                               0.00           0.00

Accumulated Depreciation                   0.00           0.00

                                     ----------     ----------
Net Fixed Assets                           0.00           0.00


Net Goodwill                               0.00           0.00

Intercompany Due To/From             (22,497.32)    (21,361.32)

Net Deferred Financing Fees                0.00           0.00

Net Investment in Subsidiaries       159,508.57     178,552.30

                                     ----------     ----------
Total Other Assets                   137,011.25     157,190.98

                                     ----------     ----------
Total Assets                         137,011.25     157,190.98
                                     ==========     ==========






AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:46
BALANCE SHEET - ATTACHMENT 5                           Page:   2
Current Period: MAY-02

currency USD
Company=60 (DELTA QUEEN SC II)




                                     YTD-Actual     YTD-Actual
                                     31-May-02      22-Oct-01
                                     ----------     ----------

                                              
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           (4,904.83)     (4,904.83)

                                     ----------     ----------
Total Liabilities                     (4,904.83)     (4,904.83)


OTHER

Liabilities Subject to Compromise          0.00           0.00

                                     ----------     ----------
Total Other                                0.00           0.00


OWNER'S EQUITY

Common Stock                               0.00           0.00

Add'l Paid In Capital                600,000.00     600,000.00

Current Net Income (Loss)             (4,624.06)   (181,334.98)

Retained Earnings                   (453,459.86)   (256,569.21)

                                     ----------     ----------
Total Owner's Equity                 141,916.08     162,095.81

                                     ----------     ----------
Total Liabilities & Equity           137,011.25     157,190.98
                                     ==========     ==========






DQSB II, Inc.                     ATTACHMENT 6                   01-10974 (JCA)
                              Summary List of Due To/
                                Due From Accounts
                         For the Month Ended May 31, 2002




                                                         BEGINNING                                   ENDING
Affiliate Name                         Case Number        Balance           Debits      Credits     Balance
                                                                                   
American Classic Voyages Co.            01-10954        (22,836.06)           --          --      (22,836.06)
AMCV Cruise Operations, Inc.            01-10967         (2,330.40)           --          --       (2,330.40)
Great AQ Steamboat, L.L.C.              01-10960            919.60            --          --          919.60
Great Pacific NW Cruise Line, L.L.C.    01-10977            339.49            --          --          339.49
Great River Cruise Line, L.L.C.         01-10963            367.05            --          --          367.05
Great Ocean Cruise Line, L.L.C.         01-10959            877.52            --          --          877.52
Cape Cod Light, L.L.C.                  01-10962             82.74            --          --           82.74
Cape May Light, L.L.C.                  01-10961             82.74            --          --           82.74
                                                        ----------          ----        ----      ----------
                                                        (22,497.32)           --          --      (22,497.32)
                                                        ==========          ====        ====      ==========






                                 DQSB II, Inc.
                                 01-10974 (JCA)




                           Accounts Receivable Aging
                               As of May 31, 2002







                                  Attachment 7


                                 Not Applicable





                                 DQSB II, Inc.
                                 01-10974 (JCA)




                            Accounts Payable Detail
                               As of May 31, 2002







                                  Attachment 8


                                 Not Applicable





DEBTOR:  DQSB II, INC.                             CASE NUMBER:  01-10974 (JCA)

                      PRELIMINARY MONTHLY OPERATING REPORT
                               AS OF MAY 31, 2002
                                      AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                     NOTES TO MAY 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.       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.

EX-99.18

                                                                   EXHIBIT 99.18

DEBTOR: GREAT HAWAIIAN CRUISE LINE, INC.            CASE NUMBER: 01-10975 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.



/s/ STEVE MOELLER
- ------------------------------------
Steve Moeller
Director, Accounting




DEBTOR: GREAT HAWAIIAN CRUISE LINE, INC.            CASE NUMBER: 01-10975 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly Operating Report




                                                                                                                 
28-Jun-02                                         Summary Of Bank And Investment Accounts                              Attachment 1
 2:36 PM                                              Great Hawaiian Cruise Line, Inc.
Summary                                                    Case No: 01-10975 (JCA)                                        UNAUDITED
Great Hawaiian Cruise Line, Inc.                           For Month Of May, 2002





                                          Balances
                              --------------------------------          Receipts &                Bank
                                 Opening            Closing            Disbursements           Statements             Account
Account                       As Of 5/01/02      As Of 5/31/02            Included              Included            Reconciled
- -------                       -------------      -------------         -------------           ----------           ----------
                                                                                                     
No Bank Or Investment               NA                 NA                    NA                    NA                   NA
Accounts





                                                                                                                 
28-Jun-02                                                   Receipts & Disbursements                                   Attachment 2
 2:36 PM                                                Great Hawaiian Cruise Line, Inc.
Summary                                                     Case No: 01-10975 (JCA)
Great Hawaiian Cruise Line                                   For Month Of May, 2002
Attach 2



       No Receipts Or Disbursements Due To No Bank Or Investment Accounts




                                                                                                                 
28-Jun-02                                         Concentration & Investment Account Statements                        Attachment 3
 2:36 PM                                                Great Hawaiian Cruise Line, Inc.
Summary                                                     Case No: 01-10975 (JCA)
Great Hawaiian Cruise Line                                   For Month Of May, 2002
Attach 3



          No Statements Due To No Concentration Or Investment Accounts




AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:30:37
INCOME STATEMENT - ATTACHMENT 4                        Page: 1
Current Period: MAY-02

currency USD
Company=50 (GREAT HAWAII CRUISE LN)



                                                                                                 PTD-Actual
                                                                                                  31-May-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                                                                        (4,191.38)
Reorganization expenses                                                                                0.00
                                                                                                 ----------
Total Other Expense/(Income)                                                                       4,191.38
                                                                                                 ----------
Net Pretax Income/(Loss)                                                                          (4,191.38)

Income Tax Expense                                                                                     0.00
                                                                                                 ----------
Net Income/(Loss)                                                                                 (4,191.38)
                                                                                                 ==========





AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:48
BALANCE SHEET - ATTACHMENT 5                           Page: 1
Current Period: MAY-02

currency USD
Company=50 (GREAT HAWAII CRUISE LN)



                                                                                        YTD-Actual             YTD-Actual
                                                                                         31-May-02              22-Oct-01
                                                                                      --------------         --------------
                                                                                                       
ASSETS

Cash and Equivalent                                                                             0.00                   0.00

Restricted Cash                                                                                 0.00                   0.00

Accounts Receivable                                                                             0.00                   0.00

Inventories                                                                                     0.00                   0.00

Prepaid Expenses                                                                                0.00                   0.00

Other Current Assets                                                                            0.00                   0.00
                                                                                      --------------         --------------
Total Current Assets                                                                            0.00                   0.00


Fixed Assets                                                                                    0.00                   0.00

Accumulated Depreciation                                                                        0.00                   0.00
                                                                                      --------------         --------------
Net Fixed Assets                                                                                0.00                   0.00


Net Goodwill                                                                                    0.00                   0.00

Intercompany Due To/From                                                              (24,595,692.37)        (24,608,201.70)

Net Deferred Financing Fees                                                                     0.00                   0.00

Net Investment in Subsidiaries                                                         40,586,257.54          41,532,108.18
                                                                                      --------------         --------------
Total Other Assets                                                                     15,990,565.17          16,923,906.48
                                                                                      --------------         --------------
Total Assets                                                                           15,990,565.17          16,923,906.48
                                                                                      ==============         ==============




AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:48
BALANCE SHEET - ATTACHMENT 5                           Page: 2
Current Period: MAY-02

currency USD
Company=50 (GREAT HAWAII CRUISE LN)



                                                                                        YTD-Actual             YTD-Actual
                                                                                         31-May-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                                                            (1,816,230.95)         (1,816,230.95)
                                                                                      --------------         --------------
Total Liabilities                                                                      (1,816,230.95)         (1,816,230.95)

OTHER

Liabilities Subject to Compromise                                                               0.00                   0.00
                                                                                      --------------         --------------
Total Other                                                                                     0.00                   0.00

OWNER'S EQUITY

Common Stock                                                                                8,440.25               8,440.25

Add'l Paid In Capital                                                                  76,531,536.87          76,531,536.87

Current Net Income (Loss)                                                              (1,804,584.47)        (11,777,334.92)

Retained Earnings                                                                     (56,928,596.53)        (46,022,504.77)
                                                                                      --------------         --------------
Total Owner's Equity                                                                   17,806,796.12          18,740,137.43
                                                                                      --------------         --------------
Total Liabilities & Equity                                                             15,990,565.17          16,923,906.48
                                                                                      ==============         ==============




GREAT HAWAIIAN CRUISE LINE, LLC          ATTACHMENT 6             01-10975 (JCA)
                          SUMMARY LIST OF DUE TO/DUE FROM ACCOUNTS
                              FOR THE MONTH ENDED MAY 31, 2002




                                                                   BEGINNING                                              ENDING
AFFILIATE NAME                              CASE NUMBER             BALANCE             DEBITS        CREDITS            BALANCE
                                                                                                     
American Classic Voyages Co.                01-10954            (3,571,229.75)              --            --         (3,571,229.75)
AMCV Holdings, Inc.                         01-10973               181,362.22               --        585.00            180,777.22
AMCV Cruise Operations, Inc.                01-10967                22,292.97               --            --             22,292.97
The Delta Queen Steamboat Co.               01-10970                 7,057.02               --            --              7,057.02
Great River Cruise Line, L.L.C.             01-10963                    60.73               --            --                 60.73
Great Ocean Cruise Line, L.L.C.             01-10959                37,394.43               --            --             37,394.43
Cape May Light, L.L.C.                      01-10961                 8,411.75               --            --              8,411.75
Oceanic Ship Co.                            N/A                     (1,803.12)              --            --             (1,803.12)
Great Hawaiian Properties Corporation       01-10971             3,599,435.73           600.00            --          3,600,035.73
American Hawaii Properties Corporation      01-10976              (179,633.39)              --         15.00           (179,648.39)
Great Independence Ship Co.                 01-10969           (24,699,040.96)              --            --        (24,699,040.96)
                                                              ---------------------------------------------------------------------
                                                               (24,595,692.37)          600.00        600.00        (24,595,692.37)
                                                              =====================================================================





                        Great Hawaiian Cruise Line, Inc.
                                 01-10975 (JCA)

                            Accounts Receivable Aging
                               As of May 31, 2002

                                  Attachment 7

                                 Not Applicable




                        Great Hawaiian Cruise Line, Inc.
                                 01-10975 (JCA)

                             Accounts Payable Detail
                               As of May 31, 2002

                                  Attachment 8

                                 Not Applicable




DEBTOR: GREAT HAWAIIAN CRUISE LINE, INC.            CASE NUMBER: 01-10975 (JCA)

                      PRELIMINARY MONTHLY OPERATING REPORT
                               AS OF MAY 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                     NOTES TO MAY 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.       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.

EX-99.19

                                                                   EXHIBIT 99.19

DEBTOR: AMERICAN HAWAII PROPERTIES CORPORATION      CASE NUMBER: 01-10976 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.



/s/ STEVE MOELLER
- ------------------------------------
Steve Moeller
Director, Accounting




DEBTOR: AMERICAN HAWAII PROPERTIES CORPORATION      CASE NUMBER: 01-10976 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly Operating Report



                                                                                                                 
28-Jun-02                                        Summary Of Bank, Investment & Petty Cash Accounts                     Attachment 1
 2:38 PM                                              American Hawaii Properties Corporation
Summary                                                        Case No: 01-10976 (JCA)                                    UNAUDITED
American Hawaii Properties Corp                                For Month Of May, 2002





                                                     Balances
                                        ---------------------------------       Receipts &        Bank
                                           Opening             Closing          Disbursements     Statements       Account
Account                                 As Of 5/01/02       As Of 5/31/02       Included          Included         Reconciled
- -------                                 -------------       -------------       -------------     ----------       ----------
                                                                                                    
AHC - Honolulu Payroll                       0.00               0.00            No -              No -             No -
Bank One                                                                        Account           Account          Account
Account # - 552-0110673379                                                      Closed            Closed           Closed

American Hawaii Pro DBA AHC                  0.00               0.00            No -              No -             No -
Bank of Hawaii                                                                  Account           Account          Account
Account # - 0001-037773                                                         Closed            Closed           Closed

Honolulu Office                              0.00               0.00            No -              Not A Bank       No -
Petty Cash                                                                      No Activity       Account          No Activity





                                                                                                                 
28-Jun-02                                                       Receipts & Disbursements                               Attachment 2
 2:38 PM                                                    American Hawaii Properties Corp
Summary                                                         Case No: 01-10976 (JCA)
American Hawaii Properties Corp                                 For Month Of May, 2002
Attach 2



         No Receipts Or Disbursements Due To All Accounts Closed




                                                                                                                 
28-Jun-02                                        Concentration & Investment Account Statements                         Attachment 3
 2:38 PM                                               American Hawaii Properties Corp
Summary                                                    Case No: 01-10976 (JCA)
American Hawaii Properties Corp                            For Month Of May, 2002
Attach 23



         No Statements Due To No Concentration Or Investment Accounts




AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:30:38
INCOME STATEMENT - ATTACHMENT 4                        Page: 1
Current Period: MAY-02

currency USD
Company=52 (AHC - HONOLULU OFFICE)



                                                                                          PTD-Actual
                                                                                           31-May-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                                                                       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: 27-JUN-02 16:29:49
BALANCE SHEET - ATTACHMENT 5                           Page: 1
Current Period: MAY-02

currency USD
Company=52 (AHC - HONOLULU OFFICE)



                                                                                           YTD-Actual            YTD-Actual
                                                                                            31-May-02             22-Oct-01
                                                                                         --------------        --------------
                                                                                                         
ASSETS

Cash and Equivalent                                                                              (15.00)           175,430.72

Restricted Cash                                                                                    0.00                  0.00

Accounts Receivable                                                                                0.00              1,334.40

Inventories                                                                                        0.00          1,214,962.00

Prepaid Expenses                                                                                   0.00              7,240.63

Other Current Assets                                                                               0.00                  0.00
                                                                                         --------------        --------------
Total Current Assets                                                                             (15.00)         1,398,967.75

Fixed Assets                                                                                       0.00          1,553,888.60

Accumulated Depreciation                                                                           0.00           (591,442.88)
                                                                                         ---------------       ---------------
Net Fixed Assets                                                                                   0.00            962,445.72

Net Goodwill                                                                                       0.00                  0.00

Intercompany Due To/From                                                                  (2,977,773.68)        (3,743,572.98)

Net Deferred Financing Fees                                                                        0.00                  0.00

Net Investment in Subsidiaries                                                                     0.00                  0.00
                                                                                         ---------------       ---------------
Total Other Assets                                                                        (2,977,773.68)        (3,743,572.98)
                                                                                         ---------------       ---------------
Total Assets                                                                              (2,977,788.68)        (1,382,159.51)
                                                                                         ==============        ==============





AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:29:49
BALANCE SHEET - ATTACHMENT 5                           Page: 2
Current Period: MAY-02

currency USD
Company=52 (AHC - HONOLULU OFFICE)



                                                                                           YTD-Actual            YTD-Actual
                                                                                            31-May-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                                                                        0.00                  0.00
                                                                                         ---------------       ---------------
Total Liabilities                                                                                  0.00                  0.00

OTHER

Liabilities Subject to Compromise                                                                  0.00                  0.00
                                                                                         ---------------       ---------------
Total Other                                                                                        0.00                  0.00

OWNER'S EQUITY

Common Stock                                                                                   1,000.00              1,000.00

Add'l Paid In Capital                                                                              0.00                  0.00

Current Net Income (Loss)                                                                 (1,441,781.41)        (1,383,800.96)

Retained Earnings                                                                         (1,537,007.27)               641.45
                                                                                         ---------------       ---------------
Total Owner's Equity                                                                      (2,977,788.68)        (1,382,159.51)
                                                                                         ---------------       ---------------
Total Liabilities & Equity                                                                (2,977,788.68)        (1,382,159.51)
                                                                                         ===============       ===============






American Hawaii Properties Corporation               ATTACHMENT 6
                                          Summary List of Due To/Due From Accounts                                    01-10976(JCA)
                                             For the Month Ended May 31, 2002

                                                             BEGINNING                                                ENDING
AFFILIATE NAME                            CASE NUMBER        BALANCE                   DEBITS          CREDITS        BALANCE
                                                                                                       
American Classic Voyages Co.              01-10954           (2,485,515.74)                --               --        (2,485,515.74)
AMCV Cruise Operations, Inc.              01-10967           (5,188,990.02)                --               --        (5,188,990.02)
The Delta Queen Steamboat Co.             01-10970              (43,550.29)                --               --           (43,550.29)
Great AQ Steamboat, L.L.C.                01-10960                1,496.24                 --               --             1,496.24
Great River Cruise Line, L.L.C.           01-10963               (9,562.38)                --               --            (9,562.38)
Cruise America Travel, Incorporated       01-10966               (1,126.92)                --               --            (1,126.92)
Cape Cod Light, L.L.C.                    01-10962               31,777.30                 --               --            31,777.30
Project America, Inc.                     N/A                 1,297,351.35                 --               --         1,297,351.35
Oceanic Ship Co.                          N/A                 3,724,194.25                 --               --         3,724,194.25
Great Hawaiian Cruise Line, Inc.          01-10975              179,633.39              15.00               --           179,648.39
Great Hawaiian Properties Corporation     01-10971               62,430.01                 --               --            62,430.01
Great Independence Ship Co.               01-10969             (542,250.76)                --               --          (542,250.76)
CAT II, Inc.                              01-10968               (3,675.11)                --               --            (3,675.11)
                                                             -----------------------------------------------------------------------
                                                             (2,977,788.68)             15.00               --        (2,977,773.68)
                                                             =======================================================================





                     American Hawaii Properties Corporation
                                 01-10976 (JCA)

                            Accounts Receivable Aging
                               As of May 31, 2002

                                  Attachment 7

                                 Not Applicable




                     American Hawaii Properties Corporation
                                 01-10976 (JCA)

                             Accounts Payable Detail
                               As of May 31, 2002

                                  Attachment 8

                                 Not Applicable




DEBTOR: AMERICAN HAWAII PROPERTIES CORPORATION      CASE NUMBER: 01-10976 (JCA)

                      PRELIMINARY MONTHLY OPERATING REPORT
                               AS OF MAY 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                     NOTES TO MAY 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.

EX-99.20

                                                                   EXHIBIT 99.20

DEBTOR:  GREAT PACIFIC NW CRUISE LINE, L.L.C.      CASE NUMBER:  01-10977 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.





   /s/ STEVE MOELLER
- -----------------------
Steve Moeller
Director, Accounting




DEBTOR:  GREAT PACIFIC NW CRUISE LINE, L.L.C.      CASE NUMBER:  01-10977 (JCA)

                            MONTHLY OPERATING REPORT
                               AS OF MAY 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 May Monthly Operating Report






              SUMMARY OF BANK, INVESTMENT & PETTY CASH ACCOUNTS    ATTACHMENT 1
                      GREAT PACIFIC NW CRUISE LINE, L.L.C.
                            CASE NO: 01-10977 (JCA)                   UNAUDITED
                             FOR MONTH OF MAY, 2002
SUMMARY
GREAT PACIFIC NW CRUISE LINE, LLC



                                               BALANCES
                                     ---------------------------------      RECEIPTS &          BANK
                                        OPENING             CLOSING       DISBURSEMENTS       STATEMENTS           ACCOUNT
ACCOUNT                              AS OF 5/01/02       AS OF 5/31/02      INCLUDED           INCLUDED           RECONCILED
- -------                              -------------       -------------    -------------       ----------          ----------
                                                                                                   
Great Pacific NW Cruise Line              0.00                0.00          No -               No -               No -
Payroll                                                                     Account            Account            Account
U.S. Bank                                                                   Closed             Closed             Closed
Account # - 153390417191

Great Pacific NW Cruise Line              0.00                0.00          No -               No -               No -
Steamer                                                                     Account            Account            Account
U.S. Bank                                                                   Closed             Closed             Closed
Account # - 153390417191

Great Pacific NW Cruise Line              0.00                0.00          No -               No - Not           No -
Columbia Queen Petty Cash                                                   No Activity        Concentration      No Activity
                                                                                               Account





                            RECEIPTS & DISBURSEMENTS               ATTACHMENT 2
                      GREAT PACIFIC NW CRUISE LINE, L.L.C.
                            CASE NO: 01-10977 (JCA)
                             FOR MONTH OF MAY, 2002
SUMMARY
GREAT PACIFIC NW CRUISE LINE, LLC


            No Receipts Or Disbursements Due To All Accounts Closed




                 CONCENTRATION & INVESTMENT ACCOUNT STATEMENTS     ATTACHMENT 3
                      GREAT PACIFIC NW CRUISE LINE, L.L.C.
                            CASE NO: 01-10977 (JCA)
                             FOR MONTH OF MAY, 2002
SUMMARY
GREAT PACIFIC NW CRUISE LINE, LLC


          No Statements Due To No Concentration Or Investment Accounts



AMCV US SET OF BOOKS                                   Date: 27-JUN-02 16:30:38
INCOME STATEMENT - ATTACHMENT 4                        Page:  1
Current Period: MAY-02

currency USD
Company=24 (COLUMBIA QUEEN)



                                         PTD-Actual
                                         31-May-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                           10,931.54
Layup/Drydock Expense                          0.00
Vessel Insurance                           6,418.44
                                        -----------
Total Operating Expenses                  17,349.98

                                        -----------
Gross Profit                             (17,349.98)

SG&A Expenses
Sales & Marketing                              0.00
Start-Up Costs                                 0.00
                                        -----------
Total SG&A Expenses                            0.00

                                        -----------
EBITDA                                   (17,349.98)

Depreciation                                   0.00

                                        -----------
Operating Income                         (17,349.98)

Other Expense/(Income)
Interest Income                                0.00
Interest Expense                           9,013.14
Equity in Earnings for Sub                     0.00
Reorganization expenses                        0.00
                                        -----------
Total Other Expense/(Income)               9,013.14

                                        -----------
Net Pretax Income/(Loss)                 (26,363.12)

Income Tax Expense                             0.00

                                        -----------
Net Income/(Loss)                        (26,363.12)
                                        ===========






AMCV US SET OF BOOKS                                  Date: 27-JUN-02 16:29:52
BALANCE SHEET - ATTACHMENT 5                          Page:   1
Current Period: MAY-02

currency USD
Company=24 (COLUMBIA QUEEN)



                                                  YTD-Actual             YTD-Actual
                                                   31-May-02              22-Oct-01
                                                --------------         --------------
ASSETS
                                                                 
Cash and Equivalent                                       0.00              31,623.21

Restricted Cash                                           0.00                   0.00

Accounts Receivable                                   2,632.21              11,425.61

Inventories                                         173,958.61             199,562.38

Prepaid Expenses                                          0.00               2,800.00

Other Current Assets                                      0.00                   0.00

                                                --------------         --------------
Total Current Assets                                176,590.82             245,411.20


Fixed Assets                                     45,093,524.95          45,093,524.95

Accumulated Depreciation                         (1,870,234.50)         (1,870,234.50)

                                                --------------         --------------
Net Fixed Assets                                 43,223,290.45          43,223,290.45


Net Goodwill                                              0.00                   0.00

Intercompany Due To/From                        (10,092,169.65)         (9,983,225.62)

Net Deferred Financing Fees                       2,478,614.22           2,545,011.02

Net Investment in Subsidiaries                            0.00                   0.00

                                                --------------         --------------
Total Other Assets                               (7,613,555.43)         (7,438,214.60)

                                                --------------         --------------
Total Assets                                     35,786,325.84          36,030,487.05
                                                ==============         ==============






AMCV US SET OF BOOKS                                  Date: 27-JUN-02 16:29:52
BALANCE SHEET - ATTACHMENT 5                          Page:   2
Current Period: MAY-02

currency USD
Company=24 (COLUMBIA QUEEN)



                                                  YTD-Actual             YTD-Actual
                                                   31-May-02              22-Oct-01
                                                --------------         --------------
LIABILITIES
                                                                 
Accounts Payable                                        235.00                 180.00

Accrued Liabilities                                 330,121.68             331,444.68

Deposits                                                  0.00                   0.00

                                                --------------         --------------
Total Current Liabilities                           330,356.68             331,624.68


Long Term Debt                                            0.00                   0.00

Other Long Term Liabilities                               0.00                   0.00

                                                --------------         --------------
Total Liabilities                                   330,356.68             331,624.68


OTHER

Liabilities Subject to Compromise                37,788,314.80          37,792,814.64

                                                --------------         --------------
Total Other                                      37,788,314.80          37,792,814.64


OWNER'S EQUITY

Common Stock                                              0.00                   0.00

Add'l Paid In Capital                                     0.00                   0.00

Current Net Income (Loss)                          (147,439.83)             18,578.51

Retained Earnings                                (2,184,905.81)         (2,112,530.78)

                                                --------------         --------------
Total Owner's Equity                             (2,332,345.64)         (2,093,952.27)

                                                --------------         --------------
Total Liabilities & Equity                       35,786,325.84          36,030,487.05
                                                ==============         ==============





Great Pacific NW Cruise Line, LLC
                                  ATTACHMENT 6                    01-10977 (JCA)
                    Summary List of Due To/Due From Accounts
                        For the Month Ended May 31, 2002



                                                            BEGINNING                                                ENDING
AFFILIATE NAME                           CASE NUMBER         BALANCE            DEBITS            CREDITS           BALANCE
                                                                                                 
American Classic Voyages Co.              01-10954       15,481,864.66               --           3,410.46       15,478,454.20
AMCV Cruise Operations, Inc.              01-10967       (9,424,393.70)              --           4,761.08       (9,429,154.78)
The Delta Queen Steamboat Co.             01-10970        8,422,821.07               --           6,418.44        8,416,402.63
DQSB II, Inc.                             01-10974             (339.49)              --                 --             (339.49)
Great AQ Steamboat, L.L.C                 01-10960           (5,552.79)              --                 --           (5,552.79)
Great River Cruise Line, L.L.C            01-10963           (2,052.08)              --           2,760.00           (4,812.08)
Great Ocean Cruise Line, L.L.C            01-10959          (10,219.55)        1,420.00           1,420.00          (10,219.55)
Cruise America Travel, Incorporated       01-10966         (674,733.24)              --                 --         (674,733.24)
Delta Queen Coastal Voyages, L.L.C        01-10964          118,887.26               --                 --          118,887.26
Cape May Light, L.L.C                     01-10961            5,380.67               --                 --            5,380.67
Project America, Inc.                     N/A               (27,500.00)              --                 --          (27,500.00)
Oceanic Ship Co.                          N/A                 1,701.33               --                 --            1,701.33
Project America Ship I, Inc.              N/A               291,567.65               --                 --          291,567.65
Ocean Development Co.                     01-10972      (24,185,738.20)              --                 --      (24,185,738.20)
Great Hawaiian Properties Corporation     01-10971          (66,513.26)              --                 --          (66,513.26)
                                                        --------------         --------          ---------      --------------
                                                        (10,074,819.67)        1,420.00          18,769.98      (10,092,169.65)
                                                        ==============         ========          =========      ==============





GREAT PACIFIC NW CRUISE LINE, L.L.C.                     CASE #: 01-10977 (EIK)


ACCOUNTS RECEIVABLE RECONCILIATION AND AGING



DETAIL:                                        0-30 DAYS      31-60 DAYS      61-90 DAYS      91+ DAYS         TOTAL
                                               ---------      ----------      ----------      --------        --------
                                                                                               
Paymentech Credit Card Processor                                                              2,632.21        2,632.21
American Express Credit Card Processor                                                                            0.00
Discover Credit Card Processor                                                                                    0.00
Diners Credit Card Processor                                                                                      0.00
Travel Agents                                                                                                     0.00
                                               ---------      ----------      ----------      --------        --------
Total                                               0.00            0.00            0.00      2,632.21        2,632.21
                                               =========      ==========      ==========      ========        ========



                                                                 ATTACHMENT # 7




                                 COLUMBIA QUEEN
                                AP-STEAMER CHECKS

                               24-000-221300-00000

                                     MAY-02

OUTSTANDING CHECKS:

                                           
                            1566 K Tinnin (American Express)               180.00
                            1611 Charles Saporiti                           55.00

                                                                          -------
                            TOTAL PER G/L:                                 235.00
                                                                          =======

                            



                           ATTACHMENT # 8




DEBTOR: GREAT PACIFIC NW CRUISE LINE, L.L.C.       CASE NUMBER:  01-10977 (JCA)

                      PRELIMINARY MONTHLY OPERATING REPORT
                               AS OF MAY 31, 2002
                                       AND
                            FOR THE MONTH THEN ENDED

                                  ATTACHMENT 9
                     NOTES TO MAY 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 now been performed internally for food
         and beverage. An evaluation of fuel inventory pricing has been
         performed and carrying values have been adjusted accordingly. Other
         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.       The Debtor ceased operating its primary asset, the Columbia Queen, on
         October 22, 2001. In connection therewith, the Debtor ceased accruing
         for its next scheduled lay-up, ceased recording depreciation, and has
         not adjusted related lay-up accrual or asset values pending the outcome
         of Chapter 11 proceedings.