EX-99.10 13 g80749exv99w10.txt AMCV CRUISE OPERATIONS, INC. MOR EXHIBIT 99.10 DEBTOR: AMCV CRUISE OPERATIONS, INC. CASE NUMBER: 01-10967 (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: AMCV CRUISE OPERATIONS, INC. CASE NUMBER: 01-10967 (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
Summary Of Bank,Investment & Petty Cash Accounts Attachment 1 ------------------------------------------------ AMCV Cruise Operations, Inc. ---------------------------- Summary Case No: 01-10967 (JWV) UNAUDITED ----------------------- AMCV Cruise Operations, Inc For Month Of January, 2003 -------------------------- Balances ----------------------------- Receipts & Bank Opening Closing Disbursements Statements Account Account As Of 01/01/03 As Of 01/31/03 Included Included Reconciled ------- ----------------------------- -------------- -------------- -------------- AMCV Cruise Ops 270,542.27 270,542.27 Yes Yes Yes Master Cash First Union National Bank Account # - 2090002602362 AHC - Certificate Of Deposit 0.00 0.00 No - No - No - Bank One Account Closed Account Closed Account Closed Account # - 880058451981 Account AHC - Certificate Of Deposit 0.00 0.00 No - No - No - Bank One Account Closed Account Closed Account Closed Account # - 880058452369 Account AMCV Escrow - Gohagan 0.00 0.00 No - No - Not No - LaSalle Bank Account Concentration Account Account # - 62-8766-40-4 closed Account closed American Classic Voyages 0.00 0.00 No - No - No - Fleet Bank Account Account Account Account # - 941-9148945 closed closed closed Weston Office 278.45 214.53 Yes Not A Bank Yes Petty Cash Account
Receipts & Disbursements Attachment 2-1 ------------------------ AMCV Cruise Operations, Inc. ---------------------------- R&D - First Union Case No: 01-10967 (JWV) UNAUDITED AMCV Cruise Ops Master Cash ----------------------- First Union ----------- AMCV Cruise Ops Master Cash --------------------------- Account # - 2090002602362 ------------------------- 1 January 03 - 31 January 03 ---------------------------- Opening Balance - 1 January 03 270,542.27 Receipts 0.00 Refund of unexpired vessel insurance premiums 0.00 Refund of 1996-1998 Louisiana State Unemployment Tax ---------- 0.00 Total Receipts Disbursements 0.00 Bank Fees ---------- 0.00 Total Disbursements Closing Balance - 31 January 03 270,542.27
Receipts & Disbursements Attachment 2-2 ------------------------ AMCV Cruise Operations, Inc. ---------------------------- Case No: 01-10967 (JWV) UNAUDITED ----------------------- Petty Cash Weston Office ------------- Petty Cash ---------- Account # - NA -------------- 1 January 03 - 31 January 03 ---------------------------- Opening Balance - 1 January 03 278.45 Receipts 0.00 Deposit ------ 0.00 Total Receipts Disbursements (50.00) Cleaning Services Office Supplies (Toner, Year end tax forms) (13.92) Sundries Miscellaneous Supplies ------ (63.92) Total Disbursements Closing Balance - 31 January 03 214.53
AMCV US SET OF BOOKS Date: 12-FEB-03 15:51:07 INCOMESTATEMENT - ATTACHMENT 4 Page: 1 Current Period: JAN-03
currency USD Company=15 (AMCV OPS) 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 71,836.54 Sales & Marketing 0.00 Start-Up Costs 0.00 ----------- Total SG&A Expenses 71,836.54 ----------- EBITDA (71,836.54) Depreciation 0.00 ----------- Operating Income (71,836.54) Other Expense/(Income) Interest Income 0.00 Equity in Earnings for Sub (52,194.20) Reorganization expenses 0.00 Other expense (77,009.54) ----------- Total Other Expense/(Income) (24,815.34) ----------- Net Pretax Income/(Loss) (47,021.20) Income Tax Expense 0.00 ------------ Net Income/(Loss) (47,021.20) ===========
AMCV US SET OF BOOKS Date: 12-FEB-03 15:59:03 BALANCE SHEET - ATTACHMENT 5 Page: 1 Current Period: JAN-03
currency USD Company=15 (AMCV OPS) YTD-Actual YTD-Actual 31-Jan-03 22-Oct-01 --------------- ------------- ASSETS Cash and Equivalent 111,906.75 1,723,947.86 Restricted Cash 450,000.00 219,000.00 Marketable Securities 0.00 50,000.00 Accounts Receivable 237,398.75 99,684.62 Inventories 0.00 0.00 Prepaid Expenses 0.00 522,662.13 Other Current Assets 3,600.00 1,750.00 --------------- ------------- Total Current Assets 802,905.50 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 (7,481,783.49) 2,150,807.43 Net Deferred Financing Fees 0.00 0.00 Net Investment in Subsidiaries (531,423,299.57) 66,329,274.35 --------------- ------------- Total Other Assets (538,905,083.06) 68,480,081.78 --------------- ------------- Total Assets (538,102,177.56) 80,014,989.32 =============== ==============
AMCV US SET OF BOOKS Date: 12-FEB-03 15:59:03 BALANCE SHEET - ATTACHMENT 5 Page: 2 Current Period: JAN-03
currency USD Company=15 (AMCV OPS) YTD-Actual YTD-Actual 31-Jan-03 22-Oct-01 --------------- -------------- LIABILITIES Accounts Payable 0.00 5,363.60 Accrued Liabilities 5,217.86 289,488.87 Deposits 0.00 0.00 --------------- -------------- Total Current Liabilities 5,217.86 294,852.47 Long Term Debt 0.00 0.00 Other Long Term Liabilities 0.00 0.00 --------------- -------------- Total Liabilities 5,217.86 294,852.47 Liabilities Subject to Compromise 27,147,484.48 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) (47,021.20) (37,037,717.81) Retained Earnings (677,990,691.51) (28,331,978.17) --------------- -------------- Total Owner's Equity (565,254,879.90) 47,413,136.83 --------------- ------------- Total Liabilities & Equity (538,102,177.56) 80,014,989.32 =============== ==============
AMCV Cruise Operations ATTACHMENT 6 01-10967 (JWV) Summary List of Due To/Due From Accounts For the Month Ended January 31, 2002 BEGINNING ENDING AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE -------------- ----------- --------------- ---------- ---------- --------------- American Classic Voyages Co. 01-10954 (81,110,415.58) 438,320.06 50,256.55 (80,722,352.07) AMCV Holdings, Inc. 01-10973 (2,306,958.13) 13,266.94 -- (2,293,691.19) The Delta Queen Steamboat Co. 01-10970 (104,066,642.75) 151,547.46 560,163.87 (104,475,259.16) DQSB II, Inc. 01-10974 2,330.40 -- -- 2,330.40 Great AQ Steamboat, L.L.C 01-10960 22,866,931.85 -- -- 22,866,931.85 Great Pacific NW Cruise Line, L.L.C 01-10977 9,434,276.58 -- 9,434,276.58 Great River Cruise Line, L.L.C 01-10963 9,463,658.43 -- 9,463,658.43 Great Ocean Cruise Line, L.L.C 01-10959 22,093,131.96 -- -- 22,093,131.96 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 --------------- ---------- ---------- --------------- (7,474,497.53) 603,134.46 610,420.42 (7,481,783.49) =============== ========== ========== ===============
AMCV CRUISE OPERATIONS CASE#: 01-10967 (JWV) ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
DETAIL: 0-30 DAYS 31-60 DAYS 61-90 DAYS 91+ DAYS TOTAL ------- ---------- ---------- ---------- -------- ---------- Cananwill 237,398.75 237,398.75 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 237,398.75 0.00 0.00 0.00 237,398.75 ========== ========== ========== ======== ==========
ATTACHMENT #7 AMCV Cruise Operations, Inc. 01-10967 (JWV) Accounts Payable Detail As of January 31, 2003 Attachment 8 Not Applicable DEBTOR: AMCV CRUISE OPERATIONS, INC. CASE NUMBER: 01-10967 (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. 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.