EX-99.12 14 g80291exv99w12.txt GREAT INDEPENDENCE SHIP DEC.2002 OPERATING REPORT EXHIBIT 99.12 DEBTOR: GREAT INDEPENDENCE SHIP CO. CASE NUMBER: 01-10969 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 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 December Monthly Operating Report (Attachments 1 through 9) and, to the best of my knowledge, these documents are true, correct, and complete. /s/ EDDIE J. PUSTIZZI ---------------------- Eddie J. Pustizzi Director, Accounting DEBTOR: GREAT INDEPENDENCE SHIP CO. CASE NUMBER: 01-10969 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 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 December Monthly Operating Report
Summary Of Bank And Investment Accounts Attachment 1 Great Independence Ship Co. Summary Case No: 01-10969 (JWV) UNAUDITED Great Independence Ship Co. For Month Of December, 2002 Balances -------------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 12/01/02 As Of 12/31/02 Included Included Reconciled ------- -------------- -------------- -------- -------- ---------- No Bank Or Investment NA NA NA NA NA Accounts
Receipts & Disbursements Attachment 2 Great Independence Ship Co. Summary Case No: 01-10969 (JWV) Great Independence Ship Co. For Month Of December, 2002 Attach 2 No Receipts Or Disbursements Due To No Bank Or Investment Accounts Concentration & Investment Account Statements Attachment 3 Great Independence Ship Co. Summary Case No: 01-10969 (JWV) Great Independence Ship Co. For Month Of December, 2002 Attach 3
No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 16-JAN-03 15:26:30 INCOME STATEMENT - ATTACHMENT 4 Page: 1 Current Period: DEC-02 currency USD Company=54 (S.S. INDEPENDENCE)
PTD-Actual 31-Dec-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 (1,266,494.79) -------------- Net Income/(Loss) 1,266,494.79 ==============
AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:16 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: DEC-02 currency USD Company=54 (S.S. INDEPENDENCE)
YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 ---------------- ---------------- ASSETS Cash and Equivalent 0.00 64,505.83 Restricted Cash 0.00 0.00 Accounts Receivable 0.00 175,538.74 Inventories 0.00 1,148,206.76 Prepaid Expenses 0.00 2,954.26 Other Current Assets 0.00 16,615.13 ---------------- ---------------- Total Current Assets 0.00 1,407,820.72 Fixed Assets 0.00 97,928,924.04 Accumulated Depreciation 0.00 (44,272,667.29) ---------------- ---------------- Net Fixed Assets 0.00 53,656,256.75 Net Goodwill 0.00 0.00 Intercompany Due To/From (18,171,945.04) (17,643,280.88) Net Deferred Financing Fees 0.00 709,459.82 Net Investment in Subsidiaries 0.00 0.00 ---------------- ---------------- Total Other Assets (18,171,945.04) (16,933,821.06) ---------------- ---------------- Total Assets (18,171,945.04) 38,130,256.41 ================ ================
AMCV US SET OF BOOKS Date: 20-JAN-03 12:59:16 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: DEC-02 currency USD Company=54 (S.S. INDEPENDENCE)
YTD-Actual YTD-Actual 31-Dec-02 22-Oct-01 ------------------ ------------------- LIABILITIES Accounts Payable 0.00 0.00 Accrued Liabilities 0.00 31,544.34 Deposits 0.00 0.00 ------------------ ------------------- Total Current Liabilities 0.00 31,544.34 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 1,266,494.79 ------------------ ------------------- Total Liabilities 0.00 1,298,039.13 Liabilities Subject to Compromise 31,933,193.92 32,372,521.16 OWNER'S EQUITY Common Stock 1,000.00 1,000.00 Add'l Paid In Capital 17,616,000.00 17,616,000.00 Current Net Income (Loss) (54,257,119.01) (9,694,324.85) Retained Earnings (13,465,019.95) (3,462,979.03) ------------------ ------------------- Total Owner's Equity (50,105,138.96) 4,459,696.12 ------------------ ------------------- Total Liabilities & Equity (18,171,945.04) 38,130,256.41 ================== ===================
Great Independence Ship Co. 01-10969 (JWV) ATTACHMENT 6 Summary List of Due To/Due From Accounts For the Month Ended December 31, 2002
CASE BEGINNING ENDING AFFILIATE NAME NUMBER BALANCE DEBITS CREDITS BALANCE American Classic Voyages Co. 01-10954 (24,948,774.58) -- -- (24,948,774.58) AMCV Cruise Operations, Inc. 01-10967 (36,656,636.93) -- -- (36,656,636.93) The Delta Queen Steamboat Co. 01-10970 83,084.83 -- -- 83,084.83 Great AQ Steamboat, L.L.C 01-10960 4,881.60 -- -- 4,881.60 Great Ocean Cruise Line, L.L.C 01-10959 2,195.09 -- -- 2,195.09 Cruise America Travel, Incorporated 01-10966 (16,321.27) -- -- (16,321.27) Cape Cod Light, L.L.C 01-10962 (32,099.49) -- -- (32,099.49) Project America, Inc. N/A 21,415.35 -- -- 21,415.35 Oceanic Ship Co. N/A 1,172,074.09 -- -- 1,172,074.09 Project America Ship I, Inc. N/A 277,329.74 -- -- 277,329.74 Great Hawaiian Cruise Line, Inc. 01-10975 24,282,460.92 -- -- 24,282,460.92 Great Hawaiian Properties Corporation 01-10971 28,898,393.97 -- -- 28,898,393.97 American Hawaii Properties Corporation 01-10976 542,250.76 -- -- 542,250.76 CAT II, Inc. 01-10968 (11,802,199.12) -- -- (11,802,199.12) --------------------------------------------------------------------- (18,171,945.04) -- -- (18,171,945.04) =====================================================================
Great Independence Ship Co. 01-10969 (JWV) Accounts Receivable Aging As of December 31, 2002 Attachment 7 Not Applicable Great Independence Ship Co. 01-10969 (JWV) Accounts Payable Detail As of December 31, 2002 Attachment 8 Not Applicable DEBTOR: GREAT INDEPENDENCE SHIP CO. CASE NUMBER: 01-10969 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 30, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO DECEMBER 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. Other long-term liabilities had consisted of deferred tax assets and liabilities, net. Deferred tax assets and liabilities had been recognized for the expected future tax consequences of temporary differences between carrying amounts and the tax basis of assets and liabilities. The Debtor adjusted the recorded amounts to zero based upon the expected outcome of Chapter 11 proceedings.