EX-99.5 8 g77469exv99w5.txt CAPE COD LIGHT, L.L.C. JUNE 2002 EXHIBIT 99.5 DEBTOR: CAPE COD LIGHT, L.L.C. CASE NUMBER: 01-10962 (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: CAPE COD LIGHT, L.L.C. CASE NUMBER: 01-10962 (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 And Investment Accounts Attachment 1 3:15 PM Cape Cod Light, L.L.C. Summary Case No: 01-10962 (JCA) UNAUDITED Cape Cod Light, LLC 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 ------- ------------- ------------- ---------------- --------------- ---------- Cape Cod Light Escrow 8,158,727.80 0.00 No - Amount Was No - Account Is No US Dept Of Transportation Offset Against Under Control Maritime Administration Debt to Maritime Of Maritime Adminstration Adminstration - No Statements Cape Cod Light Security 0.03 0.00 Yes No Yes Hibernia Investments, LLC Account # - 4R6-771783
20-Jul-02 Receipts & Disbursements Attachment 2 3:17 PM Cape Cod Light, LLC R&D - Hibernia Case No: 01-10962 (JCA) UNAUDITED Investments - Hibernia Investments, LLC CCL Security Cape Cod Light Security Account Account # - 4R6-771783 1 Jun 02 - 30 Jun 02 Opening Balance - 1 Jun 02 0.03 Receipts Disbursements (0.03) Written Off By Hibernia (0.03) Total Disbursements Closing Balance - 30 Jun 02 0.00
20-Jul-02 Concentration & Investment Attachment 3 3:14 PM Account Statements Summary Cape Cod Light, L.L.C. Cape May Case No: 01-10962 (JCA) Light, LLC For Month Of June, 2002 Attach 3 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 26-JUL-02 09:47:32 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: JUN-02 currency USD Company=32 (CAPE COD LIGHT)
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 (30.64) Passenger Expenses 0.00 Vessel Expenses 0.00 Layup/Drydock Expense 0.00 Vessel Insurance 0.00 -------------- Total Operating Expenses (30.64) -------------- Gross Profit 30.64 SG&A Expenses Sales & Marketing 0.00 Start-Up Costs 0.00 -------------- Total SG&A Expenses 0.00 -------------- EBITDA 30.64 Depreciation 0.00 -------------- Operating Income 30.64 Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub 0.00 Reorganization expenses 38,683,671.90 -------------- Total Other Expense/(Income) 38,683,671.90 -------------- Net Pretax Income/(Loss) (38,683,641.26) Income Tax Expense 0.00 -------------- Net Income/(Loss) (38,683,641.26) ==============
AMCV US SET OF BOOKS Date: 26-JUL-02 09:52:36 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: JUN-02 currency USD Company=32 (CAPE COD LIGHT)
YTD-Actual YTD-Actual 30-Jun-02 22-Oct-02 -------------- -------------- ASSETS Cash and Equivalent 0.00 0.00 Restricted Cash 0.00 8,158,728.00 Accounts Receivable 0.00 42.00 Inventories 0.00 217,563.69 Prepaid Expenses 0.00 74,900.00 Other Current Assets 0.00 0.00 -------------- -------------- Total Current Assets 0.00 8,451,233.69 Fixed Assets 0.00 35,993,283.77 Accumulated Depreciation 0.00 0.00 -------------- -------------- Net Fixed Assets 0.00 35,993,283.77 Net Goodwill 0.00 0.00 Intercompany Due To/From (13,350,804.71) (13,322,516.26) Net Deferred Financing Fees 0.00 2,630,465.87 Net Investment in Subsidiaries 0.00 0.00 -------------- -------------- Total Other Assets (13,350,804.71) (10,692,050.39) -------------- -------------- Total Assets (13,350,804.71) 33,752,467.07 ============== ==============
AMCV US SET OF BOOKS Date: 26-JUL-02 09:52:36 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: JUN-02 currency USD Company=32 (CAPE COD LIGHT)
YTD-Actual YTD-Actual 30-Jun-02 22-Oct-02 -------------- -------------- LIABILITIES Accounts Payable 0.00 0.00 Accrued Liabilities 0.00 75,000.00 Deposits 0.00 0.00 -------------- -------------- Total Current Liabilities 0.00 75,000.00 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 -------------- -------------- Total Liabilities 0.00 75,000.00 OTHER Liabilities Subject to Compromise 31,882,948.00 40,041,676.00 -------------- -------------- Total Other 31,882,948.00 40,041,676.00 OWNER'S EQUITY Common Stock 0.00 0.00 Add'l Paid In Capital 0.00 0.00 Current Net Income (Loss) (38,842,230.33) (4,661,527.14) Retained Earnings (6,391,522.38) (1,702,681.79) -------------- -------------- Total Owner's Equity (45,233,752.71) (6,364,208.93) -------------- -------------- Total Liabilities & Equity (13,350,804.71) 33,752,467.07 ============== ==============
Cape Cod Light, LLC ATTACHMENT 6 01-10962 (JCA) 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 1,670,131.78 -- -- 1,670,131.78 AMCV Cruise Operations, Inc. 01-10967 (3,950,183.20) -- -- (3,950,183.20) The Delta Queen Steamboat Co. 01-10970 1,404,059.37 -- -- 1,404,059.37 DQSB II, Inc. 01-10974 (82.74) -- -- (82.74) Great AQ Steamboat, L.L.C 01-10960 500,000.00 -- -- 500,000.00 Great River Cruise Line, L.L.C 01-10963 270.05 -- -- 270.05 Great Ocean Cruise Line, L.L.C 01-10959 (4,980.00) -- -- (4,980.00) Cruise America Travel, Incorporated 01-10966 (2,706.08) -- -- (2,706.08) Delta Queen Coastal Voyages, L.L.C 01-10964 (5,769.44) 30.64 -- (5,738.80) Cape May Light, L.L.C 01-10961 8,675.31 -- -- 8,675.31 Project America, Inc. N/A (52,500.00) -- -- (52,500.00) Oceanic Ship Co. N/A 42,930.22 -- -- 42,930.22 Project America Ship II, Inc. N/A 97,472.74 -- -- 97,472.74 Ocean Development Co. 01-10972 (13,058,475.55) -- -- (13,058,475.55) American Hawaii Properties Corporation 01-10976 (31,777.30) -- -- (31,777.30) Great Independence Ship Co. 01-10969 32,099.49 -- -- 32,099.49 ------------------------------------------------------------------ (13,350,835.35) 30.64 -- (13,350,804.71) ==================================================================
Cape Cod Light, L.L.C. 01-10962 (JCA) Accounts Receivable Aging As of June 30, 2002 Attachment 7 Not Applicable Cape Cod Light, L.L.C. 01-10962 (JCA) Accounts Payable Detail As of June 30, 2002 Attachment 8 Not Applicable DEBTOR: CAPE COD LIGHT, L.L.C. CASE NUMBER: 01-10962 (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. 1. The Debtor and three other Debtors completed the forfeiture of four vessels to the Maritime Administration, the secured creditor of each vessel, during June. Accordingly, the Debtor wrote-off the carrying value of its vessel and related assets. The net loss of disposition totaled $38.7 million. 2. Restricted cash represented escrowed proceeds from debt issued to finance the construction of the Cape Cod Light. The debt is guaranteed by, and the restricted cash is controlled by, the U.S. Maritime Administration. The Debtor offset this cash against the outstanding debt, which was previously reclassified as a liability subject to compromise.