EX-99.10 13 g77469exv99w10.txt AMCV CRUISE OPERATIONS, INC. JUNE 2002 EXHIBIT 99.10 DEBTOR: AMCV CRUISE OPERATIONS, INC. CASE NUMBER: 01-10967 (JCA) MONTHLY OPERATING REPORT AS OF JUNE 30, 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 June 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 JUNE 30, 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 June Monthly Operating Report 20-Jul-02 Summary Of Bank,Investment Attachment 1 3:35 PM & Petty Cash Accounts Summary AMCV Cruise Operations, Inc. UNAUDITED AMCV Cruise Case No: 01-10967 (JCA) Operations, Inc. For Month Of June, 2002
Balances ------------------------------ Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 6/01/02 As Of 6/30/02 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 5,116.69 35,556.07 Yes Yes Yes Master Cash First Union National Bank Account # - 2090002602362 AMCV Escrow - Gohagan 0.00 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 / Weston Offices 825.45 718.96 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 20-Jul-02 Receipts & Disbursements Attachment 2-1 3:36 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 Jun 02 - 30 Jun 02 Opening Balance - 1 Jun 02 25,000.00 Receipts --------- 0.00 Total Receipts Disbursements --------- 0.00 Total Disbursements Closing Balance - 30 Jun 02 25,000.00
20-Jul-02 Receipts & Disbursements Attachment 2-2 3:38 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 Jun 02 - 30 Jun 02 Opening Balance - 1 Jun 02 25,000.00 Receipts --------- 0.00 Total Receipts Disbursements --------- 0.00 Total Disbursements Closing Balance - 30 Jun 02 25,000.00
20-Jul-02 Receipts & Disbursements Attachment 2-3 3:39 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 Jun 02 - 30 Jun 02 Opening Balance - 1 Jun 02 5,116.69 Receipts 30,336.12 Misc Deposits 186.10 From AMCV Cruise Ops - LaSalle Bank - Gohagan Escrow - Account (62-8766-40-4) --------- 30,522.22 Total Receipts Disbursements (82.84) Bank Fees --------- (82.84) Total Disbursements Closing Balance - 30 Jun 02 35,556.07
20-Jul-02 Receipts & Disbursements Attachment 2-4 3:40 PM AMCV Cruise Operations, Inc. R&D - LaSalle Case No: 01-10967 (JCA) UNAUDITED AMCV Escrow - LaSalle Gohagan AMCV Escrow - Gohagan Account # - 62-8766-40-4 1 Jun 02 - 30 Jun 02 Opening Balance - Jun 02 0.00 Receipts 186.10 Interest Earned ------- 186.10 Total Receipts Disbursements (186.10) To AMCV Cruise Ops - First Union National Bank - AMCV Cruise Ops - Account (2090002602362) ------- (186.10) Total Disbursements Closing Balance - 30 Jun 02 0.00
20-Jul-02 Receipts & Disbursements Attachment 2-5 3:41 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 Jun 02 - 30 Jun 02 Opening Balance - 1 Jun 02 825.45 Receipts ------- 0.00 Total Receipts Disbursements (75.00) Cleaning Services (11.00) Courier (4.30) Postage (16.19) Miscellaneous Supplies ------- (106.49) Total Disbursements Closing Balance - 30 Jun 02 718.96
AMCV US SET OF BOOKS Date: 26-JUL-02 09:47:38 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: JUN-02 currency USD Company=15 (AMCV OPS)
PTD-Actual 30-Jun-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 105,950.54 Sales & Marketing (1,130.50) Start-Up Costs 0.00 -------------- Total SG&A Expenses 104,820.04 -------------- EBITDA (104,820.04) Depreciation 0.00 -------------- Operating Income (104,820.04) Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub (583,112,792.98) Reorganization expenses 239,835.26 -------------- Total Other Expense/(Income) 583,352,628.24 -------------- Net Pretax Income/(Loss) (583,457,448.28) Income Tax Expense 0.00 -------------- Net Income/(Loss) (583,457,448.28) ==============
AMCV US SET OF BOOKS Date: 26-JUL-02 09:52:45 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: JUN-02 currency USD Company=15 (AMCV OPS)
YTD-Actual YTD-Actual 30-Jun-02 22-Oct-02 --------------- -------------- ASSETS Cash and Equivalent (18,806.10) 1,723,947.86 Restricted Cash 0.00 219,000.00 Marketable Securities 50,000.00 50,000.00 Accounts Receivable 7,561.06 99,684.62 Inventories 0.00 0.00 Prepaid Expenses 259,479.15 522,662.13 Other Current Assets 20,942.96 1,750.00 --------------- -------------- Total Current Assets 319,177.07 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 (3,941,395.68) 2,150,807.43 Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries (521,680,758.49) 66,329,274.35 --------------- -------------- Total Other Assets (525,622,154.17) 68,480,081.78 --------------- -------------- Total Assets (525,302,977.10) 80,014,989.32 =============== ==============
AMCV US SET OF BOOKS Date: 26-JUL-02 09:52:45 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: JUN-02 currency USD Company=15 (AMCV OPS)
YTD-Actual YTD-Actual 30-Jun-02 22-Oct-02 --------------- -------------- LIABILITIES Accounts Payable 160,198.77 5,363.60 Accrued Liabilities 93,930.36 289,488.87 Deposits 0.00 0.00 --------------- -------------- Total Current Liabilities 254,129.13 294,852.47 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 --------------- -------------- Total Liabilities 254,129.13 294,852.47 OTHER Liabilities Subject to Compromise 29,493,269.30 32,307,000.02 --------------- -------------- Total Other 29,493,269.30 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) (600,072,074.77) (37,037,717.81) Retained Earnings (67,761,133.57) (28,331,978.17) --------------- -------------- Total Owner's Equity (555,050,375.53) 47,413,136.83 --------------- -------------- Total Liabilities & Equity (525,302,977.10) 80,014,989.32 =============== ==============
AMCV Cruise ATTACHMENT 6 01-10967 (JCA) Operations, Inc. Summary List of Due To/ Due From Accounts For the Month Ended June 30, 2002
BEGINNING ENDING AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (48,693,943.29) 471,672.77 1,954,158.76 (50,176,429.28) AMCV Holdings, Inc. 01-10973 (638,138.36) 15.00 1,500.00 (639,623.36) The Delta Queen Steamboat Co. 01-10970 (133,864,653.70) 2,238,127.32 1,449,795.02 (133,076,321.40) DQSB II, Inc. 01-10974 2,330.40 -- -- 2,330.40 Great AQ Steamboat, L.L.C 01-10960 22,858,441.96 4,265.81 1,650.00 22,861,057.77 Great Pacific NW Cruise Line, L.L.C 01-10977 9,429,154.78 4,175.50 -- 9,433,330.28 Great River Cruise Line, L.L.C 01-10963 9,443,779.62 17,991.39 15,850.55 9,445,920.46 Great Ocean Cruise Line, L.L.C 01-10959 22,033,773.41 31,619.21 1,633.62 22,063,759.00 Cruise America Travel, Incorporated 01-10966 4,057,165.15 -- -- 4,057,165.15 Delta Queen Coastal Voyages, L.L.C 01-10964 (190,721.38) 30.64 30.64 (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 8,123,934.77 968.82 -- 8,124,903.59 Project America, Inc. N/A (4,501,177.23) -- -- (4,501,177.23) Oceanic Ship Co. N/A 57,688,243.12 336.00 -- 57,688,579.12 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 ----------------------------------------------------------------------- (3,285,979.55) 2,769,202.46 3,424,618.59 (3,941,395.68) =======================================================================
AMCV CRUISE OPERATIONS, INC. CASE #: 01-10967 (JCA) ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
DETAIL: 0-30 DAYS 31-60 DAYS 61-90 DAYS 91+ DAYS TOTAL Paymentech Credit Card Processor 0.00 0.00 American Express Credit Card Processor 0.00 Discover Credit Card Processor 0.00 Diners Credit Card Processor 0.00 BankOne 7,561.06 7,561.06 Crew Member 0.00 0.00 --------- ----------- --------- -------- -------- Total 7,561.06 0.00 0.00 0.00 7,561.06 ========= =========== ========= ======== ========
ATTACHMENT # 7 ACCOUNTS PAYABLE TRIAL BALANCE AS OF JUNE 30, 2002 LIABILITY ACCOUNT: 15-000-220102-00000
SUPPLIER NAME INVOICE NUMBER INVOICE DATE REMAINING AMOUNT INVOICE DESCRIPTION ------------------------------------------------------------------------------------------------------------------------ AMERICAN MARITIME OFFICERS 0502MPB 31-May-02 $ 10,758.47 MAY'02 MEDICAL PLAN 0502VAC 31-May-02 $ 1,302.20 MAY'02 VACATION PLAN 0502VACALL 31-May-02 $ 9,084.76 MAY'02 PENSION PLAN Total for Supplier: $ 21,145.43 AMO 401(K) Plan WP052402 24-May-02 $ 1,079.48 AMO INLAND WATER OPT 0502DUES 31-May-02 $ 1,525.50 MAY'02 AMO PLAN DUES & INITIATIONS WITHHELD AUTOMATIC DATA PROCESSING 540240 14-Jun-02 $ 118.87 539826 7-Jun-02 $ 2.00 540817 14-Jun-02 $ 62.64 541316 21-Jun-02 $ 2.00 539307 7-Jun-02 $ 2.00 541875 21-Jun-02 $ 3.34 541844 21-Jun-02 $ 2.00 $ 192.85 BENTON COUNTY TRUSTEE 123101 31-Dec-01 $ 1,549.91 PROPERTY ADDRESS BL000400 BILL NOBLES, TRUSTEE 123101B 31-Dec-01 $ 1,704.40 BILL NUMBER 145214 123101A 31-Dec-01 $ 1,963.66 BILL NUMBER 145375 Total for Supplier: $ 3,668.06 BOB PATTERSON, TRUSTEE 123101B 31-Dec-01 $ 7,025.24 FOLIO NUMBER 6BL-0004-0-00000-0 123101A 31-Dec-01 $ 5,059.38 FOLIO NUMBER 1BL-0004-0-00000-0 Total for Supplier: $ 12,084.62 BROWNING-FERRIS INDUSTRIES 0221820-020100-0278 31-Jan-02 $ (1,097.64) CARL E. LEVI, CITY TREASURER 123101 31-Dec-01 $ 1,400.93 BILL # 76013 CHARLIE CALDWELL, TRUSTEE 123101B 31-Dec-01 $ 2,807.17 ACCOUNT NUMBER 000000516 123101A 31-Dec-01 $ 2,459.26 ACCOUNT NUMBER 000000340 Total for Supplier: $ 5,266.43 CITY OF PORTLAND 123101 31-Dec-01 $ 100.00 AMERICAN CLASSIC VOYAGES, INC. CITY TAX COLLECTOR 123101 31-Dec-01 $ 51.77 PROPERTY ADDRESS BL000400 COUNTY TRUSTEE 123101 31-Dec-01 $ 1,299.20 PROPERTY ADDRESS BL000400 DECATUR COUNTY TRUSTEE 123101 31-Dec-01 $ 991.66 PROPERTY ADDRESS BL000400 DEPARTMENT OF REVENUE AND TAXATION 123101A 31-Dec-01 $ 10.00 PROJECT AMERICA, INC. DICKSON COUNTY TRUSTEE 123101 31-Dec-01 $ 166.48 PROPERTY ADDRESS BL000400 DIRECTV 0032-006733024 26-Dec-01 $ 60.33 # 006733024 0031-006733024 26-Nov-01 $ 60.33 ACCT # 006733024 0030-006733024A 26-Oct-01 $ 60.33 ACCT # 006733024 0024-006733024C 23-Apr-01 $ (659.33) OVERPAID CK # 4002327 ACCT # Total for Supplier: $ (478.34) DIVERSEY LEVER, INC 30706 18-Dec-01 $ (8.97) FUEL SURCHARGE CREDIT DYER COUNTY TRUSTEE 123101 31-Dec-01 $ 2,915.08 PROPERTY ADDRESS BL000400 ENTERGY 0415-051402CR 14-May-02 $(12,699.89) 0415-051402B 14-May-02 $ 12,699.89 Total for Supplier: $ -- EQUISERVE L.P. G0117243 13-Jun-02 $ 1,270.56 May-02 FEDERAL EXPRESS 4-288-16564 26-Jun-02 $ 43.12 CHICAGO # 1767-9328-7 4-280-16151 21-Jun-02 $ 25.91 WESTON # 2383-6244-0 4-241-77105 19-Jun-02 $ 19.10 CHICAGO # 1767-9328-7 4-280-16152 21-Jun-02 $ 7.50 WESTON # 2383-6244-0 $ 95.63 FRED DEVINE DIVING & SALVAGE CO 20038A 18-Jun-02 $ 2,446.57 CQ ELECTRIC SERVICE 5/20-6/1 GABLES SAN MICHELE 89 21-Jun-02 $ 40.77 # 712 WATER/SEWER/TRASH 5/7- HARDIN COUNTY TRUSTEE 123101 31-Dec-01 $ 2,254.32 HARDIN COUNTY PROPERTY TAX HENRY COUNTY TRUSTEE 123101 31-Dec-01 $ 323.79 P ROPERTY ADDRESS BL000400 HOUSTON COUNTY TRUSTEE 123101 31-Dec-01 $ 303.80 HOUSTON COUNTY PROPERTY TAX HUMPHREYS COUNTY TRUSTEE 123101 31-Dec-01 $ 1,014.31 PROPERTY ADDRESS BL000400 ICS LOGISTICS 0305115 19-Apr-02 411.14 0304250 12-Apr-02 $ 1,464.00 0303296 5-Apr-02 $ 214.50 0301324 29-Mar-02 $ 1,872.75 0300501 22-Mar-02 $ 1,039.50 0299608 15-Mar-02 $ 965.25 0294084 8-Feb-22 $ 230.00 0288151 4-Jan-02 $ 990.00 0283961 7-Dec-01 $ 990.00 0277999 2-Nov-01 $ 990.00 0245847B 12-Oct-01 $ 1,056.00 $ 10,223.14 IIS INC 061002 10-Jun-02 $ (1,595.00) LAKE COUNTY TRUSTEE 123101 31-Dec-01 $ 5,781.44 PROPERTY ADDRESS BL000400 LAURA MAX RACINE, TIPTON COUNTY TRUSTEE 23101 31-Dec-01 $ 2,110.19 TIPTON COUNTY PERSONAL PROPERTY TAX LOGAN & COMPANY, INC 0205 31-May-02 $ 45,591.76 May-02 MARION COUNTY TRUSTEE 123101 31-Dec-01 $ 1,594.57 MARION COUNTY PROPERTY TAX MCI WORLDCOM CONFRENCING 120101 1-Dec-01 $ (46.07) 01-00005980958-00691 MOELLER, STEVE 063002 30-Jun-02 $ 1,738.03 T&E 6/1-30/02 MONTGOMERY COUNTY TRUSTEE 123101 31-Dec-01 $ 2,694.83 PROPERTY ADDRESS BL000400 NANCE, PATRICIA 061002 10-Jun-02 $ 238.65 NATCHEZ WATER WORKS 40902 9-Apr-02 $ (18.36) # 13418 NYS LLC/LLP FEE 123101B 31-Dec-01 $ 325.00 DELTA QUEEN COASTAL VOYAGES, L.L.C. 123101A 31-Dec-01 $ 325.00 CAPE MAY LIGHT, L. L. C. Total for Supplier: $ 650.00 ORKIN EXTERMINATING, CO, INC 5005106 24-Apr-02 $ 170.12 PAUL MEADOW, TRUSTEE 123101 31-Dec-01 $ 4,646.31 LAUDERDALE COUNTY PROPERTY TAX PERRY COUNTY 123101 31-Dec-01 $ 544.04 PROPERTY ADDRESS BL000400 PUSTIZZI, EDDIE 063002 30-Jun-02 $ 362.45 T&E 6/1-30/02 QWEST 054733167 26-Jun-02 $ 5.24 # 60517495 0543733146 26-Jun-02 $ 5.24 # 60517464 0543733157 26-Jun-02 $ 5.24 # 60517495 0543733144 26-Jun-02 $ 5.24 # 60517462 Total for Supplier: $ 20.96 SEAFARERS 0502HHTF 31-May-02 $ 396.50 MAY'02 TRAINING FUND DUES0502 31-May-02 $ 4,891.50 MAY'02 SEAFARERS INT'L-DUES&INITIATIONS 0502HLSS 31-May-02 $ 396.50 MAY'02 HARRY LUNDBERGER SCHOOL Total for Supplier: $ 5,684.50 SMART RESOURCES, INC 141418 25-Jun-02 $ 308.50 KARENA SALMOND SOMERSET REFINERY, INC 12718B 25-Oct-01 $ 0.01 PO # 11923 SOUTHWESTERN BELL 0227 122401 24-Dec-01 $ (14.66) 314-436-0227-138-8 8922 120401 4-Dec-01 $ (7.62) 573 221-8922 555-7 Total for Supplier: $ (22.28) STANDARD COURIER 30367 22-Jun-02 $ 10.00 STATE OF NEW JERSEY 123101 31-Dec-01 $ 340.00 DELTA QUEEN STEAMBOAT COMPANY STATE OF NEW JERSEY - CBT 123101 31-Dec-01 $ 340.00 DQSB II, INC STEWART COUNTY TRUSTEE 123101 31-Dec-01 $ 2,569.98 PROPERTY ADDRESS BL000400 TAX COLLECTOR 123101 31-Dec-01 $ 240.81 PROPERTY ADDRESS BL000400 TENNESSEE DEPARTMENT OF REVENUE 123101 31-Dec-01 $ 7,000.00 DELTA QUEEN STEAMBOAT COMPANY TRANSPORTATION INSTITUTE 0502TI 31-May-02 $ 396.50 MAY'02 TRANSPORTATION TREASURER, CITY OF MEMPHIS 123101 31-Dec-01 $ 2,626.70 ACCOUNT NUMBER TBL000400 UNITED INDUSTRIAL WORKERS 0502WPP 31-May-02 $ 4,520.10 MAY'02 WELFARE PENSION WAYNE COUNTY TRUSTEE 123101 31-Dec-01 $ 205.03 PROPERTY ADDRESS BL000400 WEST VIRGINIA STATE TAX DEPARTMENT 123101 31-Dec-01 $ 2,010.00 AMERICAN CLASSIC VOYAGES, INC WITHERS/SUDDATH RELOCATION SYSTEMS, INC 145196 30-Oct-01 $ 10.00 60 DOLLIE LOADS TOTAL FOR LIABILITY ACCOUNT: $160,559.11 TOTAL FOR REPORT: $160,559.11 $ 360.34 CREDIT AMERICAN AIRLINES $160,198.77 TOTAL A/P LIABILITY:
DEBTOR: AMCV CRUISE OPERATIONS, INC. CASE NUMBER: 01-10967 (JCA) PRELIMINARY MONTHLY OPERATING REPORT AS OF JUNE 30, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO JUNE 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.