EX-99.1 4 g80749exv99w1.txt AMERICAN CLASSIC VOYAGES CO. MOR EXHIBIT 99.1 DEBTOR: AMERICAN CLASSIC VOYAGES CO. CASE NUMBER: 01-10954 (JWV) MONTHLY OPERATING REPORT AS OF JANUARY 31, 2003 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 January 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: AMERICAN CLASSIC VOYAGES CO. CASE NUMBER: 01-10954 (JWV) MONTHLY OPERATING REPORT AS OF JANUARY 31, 2003 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 January Monthly Operating Report Attachment 1 SUMMARY OF BANK AND INVESTMENT ACCOUNTS AMERICAN CLASSIC VOYAGES CO CASE NO: 01-10954 (JWV) FOR MONTH OF JANUARY, 2003 Summary American Classic Voyages Co Unaudited
Balances ---------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 01/01/03 As Of 01/31/03 Included Included Reconciled ------- -------------- -------------- -------- -------- ---------- AMCV Deferred Compensation 0.00 0.00 No - No - No - Bank One Account Account Account Account # - 1590101554 Closed Closed Closed AMCV Dental Benefits 0.00 0.00 No - No - No - Chase (JP Morgan Chase & Co) Account Account Account Account # - 002-2-426530 Closed Closed Closed AMCV Employee Stock Plan 0.00 0.00 No - No - No - LaSalle Bank Account Account Account Account # - 5800015140 Closed Closed Closed AMCV Insurance 0.00 0.00 No - No - No - LaSalle Bank Account Account Account Account # - 5800021411 Closed Closed Closed AMCV Medical Benefits 5,055.54 3,960.31 Yes No - Not Yes Chase (JP Morgan Chase & Co) Concentration Account # - 002-2-426522 Account American Classic Voyages Co 0.00 0.00 No - No - No - Master Cash Account Account Account LaSalle Bank Closed Closed Closed Account # - 2355464 American Classic Voyages Co 0.00 0.00 No - No - No - Payroll Account Account Account LaSalle Bank Closed Closed Closed Account # - 2369368 American Classic Voyages Co 0.00 0.00 No - No - No - PAC Account Account Account LaSalle Bank Closed Closed Closed Account # - 2355882 American Classic Voyages Co 0.00 0.00 No - No - No - Investment Account Account Account Account Credit Suisse Asset Management Closed Closed Closed Account # - 247003452 American Classic Voyages Co 0.00 0.00 No - No - No - Investment Account Account Account Account Goldman Sachs & Co. Closed Closed Closed Account # - 020-53613-2 American Classic Voyages Co 0.00 0.00 No - No - No - Investment Account Account Account Account Merrill Lynch Closed Closed Closed Account # - 318-3271750-7 American Classic Voyages Co 0.00 0.00 No - No - No - Investment Account Account Account Account Conifer Securities Closed Closed Closed Account # - 330-50683 1-8
Attachment 2 R&D - Chase - AMCV Med Ben Unaudited RECEIPTS & DISBURSEMENTS AMERICAN CLASSIC VOYAGES CASE NO: 01-10954 (JWV) CHASE AMCV MEDICAL BENEFITS ACCOUNT # - 002-2-426522 1 JANUARY 03 - 31 JANUARY 03 OPENING BALANCE - 1 JANUARY 03 5,055.54 RECEIPTS 0.00 Reversal --------------- 0.00 Total Receipts DISBURSEMENTS (1,095.23) To United Healthcare --------------- (1,095.23) Total Disbursements CLOSING BALANCE - 31 JANUARY 03 3,960.31 Attachment 3 Summary American Classic Voyages Co. Attach 3 CONCENTRATION & INVESTMENT ACCOUNT STATEMENTS AMERICAN CLASSIC VOYAGES CO. CASE NO: 01-10954 (JWV) FOR MONTH OF JANUARY, 2003 No Statements Due To No Concentration Or Investment Accounts AMCV US SET OF BOOKS Date: 12-FEB-03 15:50:47 INCOMESTATEMENT - ATTACHMENT 4 Page: 1 Current Period: JAN-03 currency USD Company=10 (AMCV) PTD-Actual 31-Jan-03 ------------------ 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 159,835.17 Sales & Marketing 0.00 Start-Up Costs 0.00 ------------------ Total SG&A Expenses 159,835.17 ------------------ EBITDA (159,835.17) Depreciation 0.00 ------------------ Operating Income (159,835.17) Other Expense/(Income) Interest Income (28,983.05) Equity in Earnings for Sub (47,021.20) Reorganization expenses 307,708.55 ------------------ Total Other Expense/(Income) 325,746.70 ------------------ Net Pretax Income/(Loss) (485,581.87) Income Tax Expense 0.00 ------------------ Net Income/(Loss) (485,581.87) ================== AMCV US SET OF BOOKS Date: 12-FEB-03 15:58:45 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: JAN-03 currency USD Company=10 (AMCV) YTD-Actual YTD-Actual 31-Jan-03 19-Oct-01 -------------- -------------- ASSETS Cash and Equivalent 0.00 10,343,248.25 Restricted Cash 0.00 0.00 Marketable Securities 0.00 337.15 Accounts Receivable 49,321.00 3,678,916.74 Inventories 0.00 0.00 Prepaid Expenses 0.00 0.00 Other Current Assets 0.00 0.00 -------------- -------------- Total Current Assets 49,321.00 14,022,502.14 Fixed Assets 3,668,304.25 4,979,716.68 Accumulated Depreciation (3,653,012.51) (4,497,369.91) -------------- -------------- Net Fixed Assets 15,291.74 482,346.77 Net Goodwill 0.00 81,420.64 Intercompany Due To/From 268,598,802.11 265,726,906.60 Net Deferred Financing Fees 0.00 3,408,954.89 Net Investment in Subsidiaries (565,254,879.90) 48,551,297.73 Other Non Current Assets 0.00 109,986.54 --------------- -------------- Total Other Assets (296,656,077.79) 317,878,566.40 --------------- -------------- Total Assets (296,591,465.05) 332,383,415.31 =============== ============== AMCV US SET OF BOOKS Date: 12-FEB-03 15:58:45 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: JAN-03 currency USD Company=10 (AMCV) YTD-Actual YTD-Actual 31-Jan-03 19-Oct-01 -------------- -------------- LIABILITIES Accounts Payable 0.00 0.00 Accrued Liabilities 1,578,667.94 1,089,864.63 Deposits 0.00 0.00 -------------- -------------- Total Current Liabilities 1,578,667.94 1,089,864.63 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 (3,434,093.96) -------------- -------------- Total Liabilities 1,578,667.94 (2,344,229.33) Liabilities Subject to Compromise 193,616,560.47 200,418,510.55 OWNER'S EQUITY Common Stock 211,013.08 211,013.08 Add'l Paid In Capital 204,438,037.35 204,438,037.35 Current Net Income (Loss) (485,581.87) (40,694,620.74) Retained Earnings (695,950,162.02) (29,645,295.60) -------------- -------------- Total Owner's Equity (491,786,693.46) 134,309,134.09 -------------- -------------- Total Liabilities & Equity (296,591,465.05) 332,383,415.31 ============== ============== 01-10954 (JWV) AMERICAN CLASSIC VOYAGES CO. ATTACHMENT 6 SUMMARY LIST OF DUE TO/DUE FROM ACCOUNTS FOR THE MONTH ENDED JANUARY 31, 2003
BEGINNING ENDING AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE --------------- ----------- ------------- --------- ---------- ------------- AMCV Cruise Operations, Inc. 01-10967 81,110,415.58 50,256.55 438,320.06 80,722,352.07 The Delta Queen Steamboat Co. 01-10970 6,204,670.44 -- -- 6,204,670.44 DQSB II, Inc. 01-10974 22,836.06 -- -- 22,836.06 Great AQ Steamboat, L.L.C. 01-10960 (22,406,500.51) -- -- (22,406,500.51) Great Pacific NW Cruise Line, L.L.C. 01-10977 (15,472,508.20) -- -- (15,472,508.20) Great River Cruise Line, L.L.C. 01-10963 6,704,338.25 -- -- 6,704,338.25 Great Ocean Cruise Line, L.L.C. 01-10959 (29,579,572.10) -- -- (29,579,572.10) Cruise America Travel, Incorporated 01-10966 103,377.71 -- -- 103,377.71 Delta Queen Coastal Voyages, L.L.C. 01-10964 934,299.38 -- -- 934,299.38 Cape Cod Light, L.L.C. 01-10962 (1,670,131.78) -- -- (1,670,131.78) Cape May Light, L.L.C. 01-10961 (656,374.33) -- -- (656,374.33) Project America, Inc. N/A (29,154,390.86) -- -- (29,154,390.86) Oceanic Ship Co. N/A 41,569,782.42 -- -- 41,569,782.42 Project America Ship I, Inc. N/A 1,793,166.15 -- -- 1,793,166.15 Project America Ship II, Inc. N/A 27,241,846.63 -- -- 27,241,846.63 Ocean Development Co. 01-10972 206,389,119.70 -- -- 206,389,119.70 Great Hawaiian Cruise Line, Inc. 01-10975 3,571,229.75 -- -- 3,571,229.75 Great Hawaiian Properties Corporation 01-10971 (51,110,970.59) -- -- (51,110,970.59) American Hawaii Properties Corporation 01-10976 2,484,040.72 -- -- 2,484,040.72 Great Independence Ship Co. 01-10969 24,948,774.58 -- -- 24,948,774.58 CAT II, Inc. 01-10968 15,959,416.62 -- -- 15,959,416.62 -------------- --------- ---------- -------------- 268,986,865.62 50,256.55 438,320.06 268,598,802.11 ============== ========= ========== ==============
AMERICAN CLASSIC VOYAGES CO. CASE #: 01-10954 (JWV) ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
DETAIL: 0-30 DAYS 31-60 DAYS 61-90 DAYS 91+ DAYS TOTAL ------- ----------- ------------ ----------- ----------- ------------ State of Delaware 49,321.00 49,321.00 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 49,321.00 0.00 0.00 49,321.00 =========== ============ =========== =========== ============
ATTACHMENT #7 American Classic Voyages Co. 01-10954 (JWV) Accounts Payable Detail As of January 31, 2003 Attachment 8 Not Applicable DEBTOR: AMERICAN CLASSIC VOYAGES CO. CASE NUMBER: 01-10954 (JWV) MONTHLY OPERATING REPORT AS OF DECEMBER 30, 2002 AND FOR THE MONTH THEN ENDED ATTACHMENT 9 NOTES TO JANUARY 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 ceased recording depreciation of its fixed asset as it expects that the net carrying value fairly reflect the expected fair market value.