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.