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.