-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Nte4BmkTYuSNID4MMUl7SW25p61Na1GGPnO68jyzQes5nN9mk0sDnEXI+W/ZhaN5 nIl+f4d1NuR4PQagNGpTqA== /in/edgar/work/0000318835-00-000009/0000318835-00-000009.txt : 20001115 0000318835-00-000009.hdr.sgml : 20001115 ACCESSION NUMBER: 0000318835-00-000009 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20000930 FILED AS OF DATE: 20001114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DSI REALTY INCOME FUND VI CENTRAL INDEX KEY: 0000318835 STANDARD INDUSTRIAL CLASSIFICATION: [6500 ] IRS NUMBER: 953633566 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 002-68926 FILM NUMBER: 766259 BUSINESS ADDRESS: STREET 1: 3701 LONG BEACH BLVD CITY: LONG BEACH STATE: CA ZIP: 90807 BUSINESS PHONE: 3105957711 MAIL ADDRESS: STREET 1: 3701 LONG BEACH BLVD CITY: LONG BEACH STATE: CA ZIP: 90807 FORMER COMPANY: FORMER CONFORMED NAME: DSI REALTY INCOME FUND 81-I DATE OF NAME CHANGE: 19870812 10-Q 1 0001.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q /_x_/ Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934. For the quarterly period ended September 30, 2000 /___/ Transition report pursuant to Section 13 or 15(d) of the Securities Act of 1934 for the transition period from ______________ to ________________. Commission File Number 2-68926 DSI REALTY INCOME FUND VI, A California Limited Partnership (Exact name of registrant as specified in its charter) California_______________________________________95-3633566 (State or other jurisdiction of (I.R.S. Employer incorporation) Identification No.) 6700 E. Pacific Coast Hwy, Long Beach, California 90803 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code-(562)493-8881 _________________________________________________________________ Former name, former address and former fiscal year, if changed since last report. Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes _x_. No___. PART I - FINANCIAL INFORMATION Item 1. Financial Statements. The information required by Rule 10-01 of Regulation S-X is included in the Quarterly Report to the Limited Partners of Registrant for the period ended September 30, 2000, which is attached hereto as Exhibit"20" and incorporated herein by this reference. Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. Registrant incorporates by this reference its Quarterly Report to Limited Partners for the period ended September 30, 2000. PART II - OTHER INFORMATION Item 6. Exhibits and Reports on Form 8K. (a) Attached hereto as Exhibit "20" is Registrant's Quarterly Report to Limited Partners for the period ended September 30, 2000. (B) Registrant did not file any reports on Form 8-K for the period reported upon. SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Dated: October 31, 2000 DSI REALTY INCOME FUND VI A California Limited Partnership (Registrant) By__/s/ Robert J. Conway______ DSI Properties, Inc., as General Partner by ROBERT J. CONWAY, President and Chief Financial Officer SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Dated: October 31, 2000 DSI REALTY INCOME FUND VI A California Limited Partnership (Registrant) By___/s/ Robert J. Conway_____ DSI Properties, Inc., as General Partner by ROBERT J. CONWAY, President and Chief Financial Officer EX-20 2 0002.txt October 31, 2000 QUARTERLY REPORT TO THE LIMITED PARTNERS OF DSI REALTY INCOME FUND VI DEAR LIMITED PARTNERS: We are pleased to enclose the Partnership's unaudited financial statements for the period ended September 30, 2000. The following is Management's discussion and analysis of the Partnership's financial condition and results of its operations. For the three month periods ended September 30, 2000 and 1999, total revenues increased 8.5% from $743,657 to $807,021 and total expenses increased 6.1% from $416,741 to $442,232. As a result,net income increased 11.6% from $326,916 for the three-month period ended September 30, 1999, to $364,789 for the same period in 2000. The revenue increase can be attributed to an increase in rental income as a result of higher occupancy and unit rental rates. Occupancy levels for the Partnership's six mini-storage facilities averaged 90.1% for the three month period ended September 30, 2000, compared to 87.0% for the same period in 1999. The Partnership is continuing its marketing efforts to attract and keep new tenants in its various mini-storage facilities. Operating expenses increased approximately $24,900 (6.9%) primarily due to increases in yellow pages advertising costs, property management fees and salaries and wages expense, partially offset by a decrease in maintenance and repair expense. Property management fees, which are based on rental revenue, increased as a result of the increase in rental revenue. General and administrative expenses remained relatively constant as an increase in incentive management fees was offset by a decrease in equipment and computer lease expenses. Incentive management fees, which are based on cash available for distribution, increased as a result of the increase in net income. For the nine-month periods ended September 30, 2000, and 1999, total revenues increased 7.9% from $2,153,572 to $2,323,008 and total expenses increased 3.9% from $1,266,989 to $1,316,461. As a result, net income increased 13.5% from $886,583 for the nine months ended September 30, 1999, to $1,006,547 for the same period in 2000. The reason for the increase in revenues is the same as discussed above for the three-month period. Operating expenses increased approximately $29,100 (2.7%) primarily due to increases in yellow pages ad- vertising costs, property management fees and workers compensation insurance expenses, partially offset by decreases in maintenance and repair and security expenses. Property management fees, which are based on rental revenue, in- creased as a result of the increase in rental revenue. General and admini- strative expenses increased approximately $20,400 (9.9%) primarily as a result of increases in incentive management fees, legal and professional expenses. The reason for the increase in incentive management fees is the same as discussed above. The General Partners plan to continue their policy of funding improvements and maintenance of Partnership properties with cash generated from operations. The Partnership's resources appear to be adequate to meet its needs. The General Partners anticipate distributions to the Limited Partners to remain at the current level for the foreseeable future. We are not enclosing a copy of the Partnership Form 10-Q as filed with the Securities and Exchange Commission since all the information set forth therein is contained either in this letter or in the attached financial statements. However, if you wish to receive a copy of said report, please send a written request to DSI Realty Income Fund VI, P.O. Box 357, Long Beach, California 90801. Very truly yours, DSI Realty Income Fund VI By: DSI Properties, Inc., as General Partner By___\s\ Robert J. Conway_______ ROBERT J. CONWAY, President EX-20 3 0003.txt DSI REALTY INCOME FUND VI (A California Real Estate Limited Partnership) BALANCE SHEETS(UNAUDITED), SEPTEMBER 30, 2000 AND DECEMBER 31, 1999
September 30, December 31, 2000 1999 ASSETS CASH AND CASH EQUIVALENTS $1,116,003 $ 559,869 PROPERTY, Net 2,890,629 3,176,287 OTHER ASSETS 60,381 60,379 TOTAL $4,067,013 $3,796,535 LIABILITIES AND PARTNERS' EQUITY (DEFICIT) LIABILITIES $441,200 $367,509 PARTNERS' EQUITY (DEFICIT): General Partners (57,028) (58,996) Limited Partners 3,682,841 3,488,022 Total partners' equity 3,625,813 3,429,026 TOTAL $4,067,013 $3,796,535 See accompanying notes to financial statements (unaudited).
STATEMENTS OF INCOME (UNAUDITED) FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
September 30, September 30, 2000 1999 REVENUES: Rental Income $803,919 $741,280 Interest 3,102 2,377 Total revenue 807,021 743,657 EXPENSES: Operating 386,830 361,922 General and administrative 55,402 54,819 Total expenses 442,232 416,741 NET INCOME $364,789 $326,916 AGGREGATE NET INCOME ALLOCATED TO: Limited partners $361,141 $323,647 General partners 3,648 3,269 TOTAL $364,789 $326,916 NET INCOME PER LIMITED PARTNERSHIP UNIT $15.20 $13.63 LIMITED PARTNERSHIP UNITS USED IN PER UNIT CALCULATION 23,753 23,753 See accompanying notes to financial statements(unaudited).
STATEMENTS OF INCOME (UNAUDITED) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
September 30, September 30, 2000 1999 REVENUES: Rental income $2,314,528 $2,146,460 Interest 8,480 7,112 Total revenues 2,323,008 2,153,572 EXPENSES: Operating 1,089,379 1,060,280 General and administrative 227,082 206,709 Total expenses 1,316,461 1,266,989 NET INCOME 1,006,547 886,583 AGGREGATE NET INCOME ALLOCATED TO: Limited Partners 996,482 877,717 General Partners 10,065 8,866 TOTAL 1,006,547 886,583 NET INCOME PER LIMITED PARTNERSHIP UNIT $ 41.95 $ 36.95 LIMITED PARTNERSHIP UNITS USED IN PER UNIT CALCULATION 23,753 23,753 See accompanying notes to financial statements (unaudited).
STATEMENTS OF CHANGES IN PARTNERS' EQUITY (UNAUDITED) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
GENERAL LIMITED PARTNERS PARTNERS TOTAL BALANCE AT JANUARY 1, 1999 ($55,794) $3,805,019 $3,749,225 NET INCOME 8,866 877,717 886,583 DISTRIBUTIONS (8,097) (801,663) (809,760) BALANCE AT SEPTEMBER 30, 1999 ($55,025) $3,881,073 $3,826,048 BALANCE AT JANUARY 1, 2000 ($58,996) $3,488,022 $3,429,026 NET INCOME 10,065 996,482 1,006,547 DISTRIBUTIONS (8,097) (801,663) (809,760) BALANCE AT SEPTEMBER 30, 2000 ($57,028) $3,682,841 $3,625,813 See accompanying notes to financial statements (unaudited).
STATEMENTS OF CASH FLOWS (UNAUDITED) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
September 30, September 30, 2000 1999 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $1,006,547 $ 886,583 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 314,415 314,415 Changes in assets and liabilities: Increase in other assets (2) (1,704) (Increase)decrease in liabilities 73,691 (8,079) Net cash provided by operating activities 1,394,651 1,191,215 CASH FLOWS FROM INVESTING ACTIVITIES - Additions to property (28,757) (19,303) CASH FLOWS FROM FINANCING ACTIVITIES - Distributions to partners (809,760) (809,760) NET INCREASE IN CASH AND CASH EQUIVALENTS 556,134 362,152 CASH AND CASH EQUIVALENTS: At beginning of period 559,869 546,110 At end of period $1,116,003 $ 908,262 See accompanying notes to financial statements (unaudited).
DSI REALTY INCOME FUND VI (A California Real Estate Limited Partnership) NOTES TO FINANCIAL STATEMENTS (UNAUDITED) 1. GENERAL DSI Realty Income Fund VI (the "Partnership"), a limited partnership, has two general partners (DSI Properties, Inc., and Diversified Investors Agency) and limited partners owning 23,753 limited partnership units. The Partnership was formed under the California Uniform Limited Partnership Act for the primary purpose of acquiring and operating real estate. The accompanying financial information as of September 30, 2000, and for the periods ended September 30, 2000 and 1999, is unaudited. Such financial information includes all adjustments which are considered necessary by the Partnership's management for a fair presentation of the results for the periods indicated. 2. PROPERTY Properties owned by the Partnership are all mini-storage facilities. Depreciation is calculated using the straight line method over the estimated useful life of 20 years. The total cost of property and accumulated depreciation at September 30, 2000, is as follows: Land $ 1,759,000 Buildings 8,518,313 Furniture and Equipment 38,710 Total 10,316,023 Less: Accumulated Depreciation ( 7,425,394) Property - Net $ 2,890,629
3. NET INCOME PER LIMITED PARTNERSHIP UNIT Net income per limited partnership unit is calculated by dividing the net income allocated to the limited partners by the number of limited partnership units outstanding during the period. EX-27 4 0004.txt
5 3-MOS YEAR DEC-31-2000 DEC-31-2000 SEP-30-2000 DEC-31-2000 1116003 0 0 0 0 0 0 0 0 0 0 0 10316023 0 7425394 0 4067013 0 0 0 0 0 0 0 0 0 0 0 0 0 4067013 0 2314528 0 2323008 0 0 0 0 0 0 0 0 0 0 0 1006547 0 0 0 1006547 0 0 0 0 0 0 0 1006547 0 0 0 0 0
-----END PRIVACY-ENHANCED MESSAGE-----