EX-99.10 12 g78437exv99w10.txt AMCV CRUISE OPERATIONS MONTHLY OPERATING REPORT EXHIBIT 99.10 DEBTOR: AMCV CRUISE OPERATIONS, INC. CASE NUMBER: 01-10967 (JCA) MONTHLY OPERATING REPORT AS OF AUGUST 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 August 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 AUGUST 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 August Monthly Operating Report Summary Of Bank,Investment Attachment 1 & Petty Cash Accounts Summary AMCV Cruise Operations, Inc. AMCV Cruise Case No: 01-10967 (JCA) UNAUDITED Operations, Inc For Month Of August, 2002
Balances ------------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 8/01/02 As Of 8/31/02 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 70,557.98 77,326.98 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 Weston Office 640.71 492.10 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 Receipts & Disbursements Attachment 2-1 R&D - AMCV Cruise Operations, Inc. Bank One - Case No: 01-10967 (JCA) UNAUDITED AHC CD (86) Bank One AHC Certificate Of Deposit Account # - 880058451981 1 August 02 - 31 August 02 Opening Balance - 1 August 02 25,000.00 Receipts --------- 0.00 Total Receipts Disbursements --------- 0.00 Total Disbursements Closing Balance - 31 August 02 25,000.00
Receipts & Disbursements Attachment 2-2 R&D - AMCV Cruise Operations, Inc. Bank One - Case No: 01-10967 (JCA) UNAUDITED AHC CD (87) Bank One AHC Certificate Of Deposit Account # - 880058452369 1 August 02 - 31 August 02
Opening Balance - 1 August 02 25,000.00 Receipts --------- 0.00 Total Receipts Disbursements --------- 0.00 Total Disbursements Closing Balance - 31 August 02 25,000.00
Receipts & Disbursements Attachment 2-3 R&D - AMCV Cruise Operations, Inc. First Union Case No: 01-10967 (JCA) UNAUDITED AMCV Cruise Ops First Union Master Cash AMCV Cruise Ops Master Cash Account # - 2090002602362 1 August 02 - 31 August 02 Opening Balance - 1 August 02 70,557.98 Receipts 5,303.52 Misc Deposits 1,500.00 Misc Transfer - reimbursed from disbursement in DQSC (DQ Master Cash - Hibernia # 812395335) --------- 6,803.52 Total Receipts Disbursements (34.52) Bank Fees --------- (34.52) Total Disbursements Closing Balance - 31 August 02 77,326.98
Receipts & Disbursements Attachment 2-4 AMCV Cruise Operations, Inc. R&D - LaSalle Case No: 01-10967 (JCA) UNAUDITED AMCV Escrow - Gohagan LaSalle AMCV Escrow - Gohagan Account # - 62-8766-40-4 1 August 02 - 31 August 02 Opening Balance - 01 August 02 0.00 Receipts 0.00 Interest Earned ------- 0.00 Total Receipts Disbursements 0.00 Fees ------- 0.00 Total Disbursements Closing Balance - 31 August 02 0.00
Receipts & Disbursements Attachment 2-5 AMCV Cruise Operations, Inc. R&D - NOLA Case No: 01-10967 (JCA) UNAUDITED Petty Cash Weston Office Petty Cash Account # - NA 1 August 02 - 31 August 02 Opening Balance - 1 August 02 640.71 Receipts ------- 0.00 Total Receipts Disbursements (125.00) Cleaning Services Courier Postage (23.61) Miscellaneous Supplies ------- (148.61) Total Disbursements Closing Balance - 31 August 02 492.10
AMCV US SET OF BOOKS Date: 17-SEP-02 15:52:39 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: AUG-02 currency USD Company=15 (AMCV OPS)
PTD-Actual 31-Aug-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 16,666.67 ----------- Total Operating Expenses 16,666.67 ----------- Gross Profit (16,666.67) SG&A Expenses General and Admin Expenses 84,834.80 Sales & Marketing 0.00 Start-Up Costs 0.00 ----------- Total SG&A Expenses 84,834.80 ----------- EBITDA (101,501.47) Depreciation 0.00 ----------- Operating Income (101,501.47) Other Expense/(Income) Interest Income 0.00 Interest Expense 0.00 Equity in Earnings for Sub 21,259.61 Reorganization expenses (12,674.59) ----------- Total Other Expense/(Income) (33,934.20) ----------- Net Pretax Income/(Loss) (67,567.27) Income Tax Expense 0.00 ----------- Net Income/(Loss) (67,567.27) ===========
AMCV US SET OF BOOKS Date: 17-SEP-02 16:34:59 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: AUG-02 currency USD Company=15 (AMCV OPS)
YTD-Actual YTD-Actual 31-Aug-02 22-Oct-02 --------------- -------------- ASSETS Cash and Equivalent 43,625.39 1,723,947.86 Restricted Cash 450,000.00 219,000.00 Marketable Securities 50,000.00 50,000.00 Accounts Receivable 0.00 99,684.62 Inventories 0.00 0.00 Prepaid Expenses 407,581.21 522,662.13 Other Current Assets 3,600.00 1,750.00 -------------- -------------- Total Current Assets 954,806.60 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 (4,939,609.70) 2,150,807.43 Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries (521,729,310.57) 66,329,274.35 --------------- -------------- Total Other Assets (526,668,920.27) 68,480,081.78 --------------- -------------- Total Assets (525,714,113.67) 80,014,989.32 =============== ==============
AMCV US SET OF BOOKS Date: 17-SEP-02 16:34:59 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: AUG-02 currency USD Company=15 (AMCV OPS)
YTD-Actual YTD-Actual 31-Aug-02 22-Oct-02 --------------- -------------- LIABILITIES Accounts Payable 74,118.24 5,363.60 Accrued Liabilities 13,104.15 289,488.87 Deposits 0.00 0.00 -------------- -------------- Total Current Liabilities 87,222.39 294,852.47 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 --------------- -------------- Total Liabilities 87,222.39 294,852.47 Liabilities Subject to Compromise 29,492,908.96 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) (600,315,944.26) (37,037,717.81) Retained Earnings (67,761,133.57) (28,331,978.17) --------------- -------------- Total Owner's Equity (555,294,245.02) 47,413,136.83 --------------- -------------- Total Liabilities & Equity (525,714,113.67) 80,014,989.32 =============== ==============
AMCV ATTACHMENT 6 0-10967 (JCA) Cruise Operations Summary List of Due To/ Due From Accounts For the Month Ended August 31, 2002
BEGINNING ENDING AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (82,639,453.09) 11,353,654.89 12,718,445.72 (84,004,243.92) AMCV Holdings, Inc. 01-10973 (639,623.36) -- -- (639,623.36) The Delta Queen Steamboat Co. 01-10970 (101,003,199.41) 23,599,861.69 22,891,236.14 (100,294,573.86) DQSB II, Inc. 01-10974 2,330.40 -- -- 2,330.40 Great AQ Steamboat, L.L.C. 01-10960 22,866,639.06 -- -- 22,866,639.06 Great Pacific NW Cruise Line, L.L.C. 01-10977 9,433,776.58 500.00 -- 9,434,276.58 Great River Cruise Line, L.L.C. 01-10963 9,463,194.68 463.75 -- 9,463,658.43 Great Ocean Cruise Line, L.L.C. 01-10959 22,080,287.63 2,449.63 -- 22,082,737.26 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) -- -- (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 8,127,233.11 -- -- 8,127,233.11 Project America, Inc. N/A (4,501,177.23) -- -- (4,501,177.23) Oceanic Ship Co. N/A 57,690,858.86 -- -- 57,690,858.86 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 ------------------------------------------------------------------------ (4,286,857.80) 34,956,929.96 35,609,681.86 (4,939,609.70) ========================================================================
AMCV Cruise Operations, Inc. 01-10967 (JCA) Accounts Receivable Aging As of August 31, 2002 Attachment 7 Not Applicable ACCOUNTS PAYABLE TRIAL BALANCE ATTACHMENT 8 AS OF AUGUST 31, 2002 LIABILITY ACCOUNT: 15-000-220102-00000
REMAINING SUPPLIER NAME INVOICE NUMBER INVOICE DATE AMOUNT AMOUNT INVOICE DESCRIPTION ------------------------------------------------------------------------------------------------------------------------------ BENTON COUNTY TRUSTEE 123101 31-Dec-01 $ 1,549.91 $ 1,549.91 PROPERTY ADDRESS BL000400 BILL NOBLES, TRUSTEE 123101B 31-Dec-01 $ 1,704.40 $ 1,704.40 BILL NUMBER 145214 123101A 31-Dec-01 $ 1,963.66 $ 1,963.66 BILL NUMBER 145375 Total for Supplier: $ 3,668.06 $ 3,668.06 BOB PATTERSON, TRUSTEE 123101B 31-Dec-01 $ 7,025.24 $ 7,025.24 FOLIO NUMBER 6BL-0004-0-00000-0 123101A 31-Dec-01 $ 5,059.38 $ 5,059.38 FOLIO NUMBER 1BL-0004-0-00000-0 Total for Supplier: $ 12,084.62 $ 12,084.62 BROWNING-FERRIS INDUSTRIES 0221820-020100-0278 31-Jan-02 $ 1,097.64 $ (1,097.64) CARL E. LEVI, CITY TREASURER 123101 31-Dec-01 $ 1,400.93 $ 1,400.93 BILL#76013 CHARLIE CALDWELL, TRUSTEE 123101B 31-Dec-01 $ 2,807.17 $ 2,807.17 ACCOUNT NUMBER 000000516 123101A 31-Dec-01 $ 2,459.26 $ 2,459.26 ACCOUNT NUMBER 000000340 Total for Supplier: $ 5,266.43 $ 5,266.43 CITY OF PORTLAND 123101 31-Dec-01 $ 100.00 $ 100.00 AMERICAN CLASSIC VOYAGES, INC. CITY TAX COLLECTOR 123101 31-Dec-01 $ 51.77 $ 51.77 PROPERTY ADDRESS BL000400 COUNTY TRUSTEE 123101 31-Dec-01 $ 1,299.20 $ 1,299.20 PROPERTY ADDRESS BL000400 DECATUR COUNTY TRUSTEE 123101 31-Dec-01 $ 991.66 $ 991.66 PROPERTY ADDRESS BL000400 DEPARTMENT OF REVENUE AND TAXATION 123101A 31-Dec-01 $ 10.00 $ 10.00 PROJECT AMERICA, INC. DICKSON COUNTY TRUSTEE 123101 31-Dec-01 $ 166.48 $ 166.48 PROPERTY ADDRESS BL000400 DIRECTV 0032-006733024 26-Dec-01 $ 60.33 $ 60.33 #006733024 0031-006733024 26-Nov-01 $ 60.33 $ 60.33 ACCT#006733024 0030-006733024A 26-Oct-01 $ 60.33 $ 60.33 ACCT#006733024 0024-006733024C 23-Apr-01 $ (659.33) $ (659.33) OVERPAID CK#4002327 ACCT#006733024 Total for Supplier: $ (478.34) $ (478.34) DIVERSEY LEVER, INC 30706 18-Dec-01 $ (8.97) $ (8.97) FUEL SURCHARGE CREDIT DYER COUNTY TRUSTEE 123101 31-Dec-01 $ 2,915.08 $ 2,915.08 PROPERTY ADDRESS BL000400 ENTERGY 0415-051402CR 14-May-02 $(12,699.89) $(12,699.89) 0415-051402B 14-May-02 $ 12,699.89 $ 12,699.89 Total for Supplier: $ -- $ -- HARDIN COUNTY TRUSTEE 123101 31-Dec-01 $ 2,254.32 $ 2,254.32 HARDIN COUNTY PROPERTY TAX HENRY COUNTY TRUSTEE 123101 31-Dec-01 $ 323.79 $ 323.79 PROPERTY ADDRESS BL000400 HOUSTON COUNTY TRUSTEE 123101 31-Dec-01 $ 303.80 $ 303.80 HOUSTON COUNTY PROPERTY TAX HUMPHREYS COUNTY TRUSTEE 123101 31-Dec-01 $ 1,014.31 $ 1,014.31 PROPERTY ADDRESS BL000400 ICS LOGISTICS 0305115 19-Apr-02 411.14 411.14 0304250 12-Apr-02 $ 1,464.00 $ 1,464.00 0303296 5-Apr-02 $ 214.50 $ 214.50 0301324 29-Mar-02 $ 1,872.75 $ 1,872.75 0300501 22-Mar-02 $ 1,039.50 $ 1,039.50 0299608 15-Mar-02 $ 965.25 $ 965.25 0294084 8-Feb-22 $ 230.00 $ 230.00 0288151 4-Jan-02 $ 990.00 $ 990.00 0283961 7-Dec-01 $ 990.00 $ 990.00 0277999 2-Nov-01 $ 990.00 $ 990.00 0245847B 12-Oct-01 $ 1,056.00 $ 1,056.00 Total for Supplier: $ 10,223.14 $ 10,223.14 IIS INC 061002 10-Jun-02 $ 1,595.00 $ (1,595.00) LAKE COUNTY TRUSTEE 123101 31-Dec-01 $ 5,781.44 $ 5,781.44 PROPERTY ADDRESS BL000400 LAKELAND RADIOLOGISTS PA 052402FINC 24-May-02 $ 164.44 $ 164.44 MED EXP J FINCH DOS 5/24/02 052502FINC 25-May-02 $ 233.05 $ 233.05 MED EXP J FINCH DOS 5/24-25/02 Total for Supplier: $ 397.49 $ 397.49 LAURA MAX RACINE, TIPTON COUNTY TRUSTEE 123101 31-Dec-01 $ 2,110.19 $ 2,110.19 TIPTON COUNTY PERSONAL PROPERTY TAX MARION COUNTY TRUSTEE 123101 31-Dec-01 $ 1,594.57 $ 1,594.57 MARION COUNTY PROPERTY TAX
ACCOUNTS PAYABLE TRIAL BALANCE ATTACHMENT 8 AS OF AUGUST 31, 2002 LIABILITY ACCOUNT: 15-000-220102-00000
REMAINING SUPPLIER NAME INVOICE NUMBER INVOICE DATE AMOUNT AMOUNT INVOICE DESCRIPTION ------------------------------------------------------------------------------------------------------------------------------ MCI WORLDCOM CONFRENCING 120101 1-Dec-01 $ (46.07) $ (46.07) 01-00005980958-00691 MONTGOMERY COUNTY TRUSTEE 123101 31-Dec-01 $ 2,694.83 $ 2,694.83 PROPERTY ADDRESS BL000400 NATCHEZ WATER WORKS 40902 9-Apr-02 $ (18.36) $ (18.36) #13418 NYS LLC/LLP FEE 123101B 31-Dec-01 $ 325.00 $ 325.00 DELTA QUEEN COASTAL VOYAGES, L.L.C. 123101A 31-Dec-01 $ 325.00 $ 325.00 CAPE MAY LIGHT, L. L. C. Total for Supplier: $ 650.00 $ 650.00 PAUL MEADOW, TRUSTEE 123101 31-Dec-01 $ 4,646.31 $ 4,646.31 LAUDERDALE COUNTY PROPERTY TAX PERRY COUNTY 123101 31-Dec-01 $ 544.04 $ 544.04 PROPERTY ADDRESS BL000400 SOMERSET REFINERY, INC 12718B 25-Oct-01 $ 3,771.46 $ 0.01 PO#11923 SOUTHWESTERN BELL 0227 122401 24-Dec-01 $ (14.66) $ (14.66) 314-436-0227-138-8 8922 120401 4-Dec-01 $ (7.62) $ (7.62) 573 221-8922 555-7 Total for Supplier: $ (22.28) $ (22.28) STATE OF NEW JERSEY 123101 31-Dec-01 $ 340.00 $ 340.00 DELTA QUEEN STEAMBOAT COMPANY STATE OF NEW JERSEY - CBT 123101 31-Dec-01 $ 340.00 $ 340.00 DQSB II, INC STEWART COUNTY TRUSTEE 123101 31-Dec-01 $ 2,569.98 $ 2,569.98 PROPERTY ADDRESS BL000400 TAX COLLECTOR 123101 31-Dec-01 $ 240.81 $ 240.81 PROPERTY ADDRESS BL000400 TENNESSEE DEPARTMENT OF REVENUE 123101 31-Dec-01 $ 7,000.00 $ 7,000.00 DELTA QUEEN STEAMBOAT COMPANY TREASURER, CITY OF MEMPHIS 123101 31-Dec-01 $ 2,626.70 $ 2,626.70 ACCOUNT NUMBER TBL000400 WAYNE COUNTY TRUSTEE 123101 31-Dec-01 $ 205.03 $ 205.03 PROPERTY ADDRESS BL000400 WEST VIRGINIA STATE TAX DEPARTMENT 123101 31-Dec-01 $ 2,010.00 $ 2,010.00 AMERICAN CLASSIC VOYAGES, INC. WITHERS/SUDDATH RELOCATION SYSTEMS, INC 145196 30-Oct-01 $ 1,040.00 $ 10.00 60 DOLLIE LOADS TOTAL FOR LIABILITY ACCOUNT: $84,304.97 $74,118.24 TOTAL FOR REPORT: $84,304.97 $74,118.24
DEBTOR: AMCV CRUISE OPERATIONS, INC. CASE NUMBER: 01-10967 (JCA) PRELIMINARY MONTHLY OPERATING REPORT AS OF AUGUST 31, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO AUGUST 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. During August, the Debtor funded three escrow accounts each in the amount of $150,000. Each escrow account was required for a pending P&I insurance claim. The Debtor cannot currently determine how much, if any, the ultimate settlement will be for each claim.