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.