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.