EXHIBIT 1.3
Monthly Operating Report
CASE NAME: CADIZ PROPERTIES, INC. ACCRUAL BASIS
CASE NUMBER: 01-80459-RCM-11 2/13/95
JUDGE: STEVEN A. FELSENTHAL
UNITED STATES BANKRUPTCY COURT
NORTHERN DISTRICT OF TEXAS
DALLAS DIVISION
MONTHLY OPERATING REPORT
MONTH ENDING: JANUARY 31, 2001
I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY
OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING
ATTACHMENTS AND THESE DOCUMENTS ARE TRUE, CORRECT AND COMPLETE. DECLARATION OF
THE PREPARER IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
Secretary
- --------------------------------------- ---------------------------------
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY TITLE
James C. Williams February 20, 2002
- --------------------------------------- ---------------------------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
Secretary
- --------------------------------------- ---------------------------------
ORIGINAL SIGNATURE OF PREPARER TITLE
James C. Williams February 20, 2002
- --------------------------------------- ---------------------------------
PRINTED NAME OF PREPARER DATE
CASE NAME: CADIZ PROPERTIES, INC. Monthly Operating Report
CASE NUMBER: 01-80459-RCM-11 ACCRUAL BASIS-1
COMPARATIVE BALANCE SHEET
ASSETS SCHEDULE MONTH MONTH MONTH
AMOUNT Jan. 2002
1. UNRESTRICTED CASH 3,666
2. RESTRICTED CASH -
3. TOTAL CASH 3,666
4. ACCOUNTS RECEIVABLE (NET) -
5. INVENTORY -
6. NOTES RECEIVABLE -
7. PREPAID EXPENSES -
8. OTHER (ATTACH LIST) 61,494
9. TOTAL CURRENT ASSETS 65,380
10. PROPERTY, PLANT & EQUIPMENT 11,372,640
11. LESS: ACCUMULATED 1,878,872
DEPRECIATION/DEPLETION
12. NET PROPERTY, PLANT & EQUIPMENT 9,493,768
13. DUE FROM INSIDERS 1,596,159
14. OTHER ASSETS - NET OF AMORTIZATION 121,105
(ATTACH LIST)
15. OTHER (ATTACH LIST)
16. TOTAL ASSETS 11,276,412
POSTPETITION LIABILITIES
17. ACCOUNTS PAYABLE -
18. TAXES PAYABLE -
19. NOTES PAYABLE -
20. PROFESSIONAL FEES -
21. SECURED DEBT 90,780
22. OTHER (ATTACH LIST) -
23. TOTAL POSTPETITION LIABILITIES 90,780
PREPETITION LIABILITIES
24. SECURED DEBT 7,401,415
25. PRIORITY DEBT -
26. UNSECURED DEBT -
27. OTHER (ATTACH LIST) -
28. TOTAL PREPETITION LIABILITIES 7,401,415
29. TOTAL LIABILITIES 7,492,195
EQUITY
30. PREPETITION OWNERS' EQUITY 3,646,334
31. POSTPETITION CUMULATIVE PROFIT 137,883
(OR LOSS)
32. DIRECT CHARGES TO EQUITY -
(ATTACH EXPLANATION)
33. TOTAL EQUITY 3,784,217
34. TOTAL LIABILITIES & OWNERS' 11,276,412
EQUITY
CASE NAME: CADIZ PROPERTIES, INC. MOR-1
CASE NUMBER: 01-80459-RCM-11
8. Property Tax Escrow $ 61,494
14. Capitalized Professional Fees Net of Amortization $ 121,105
CASE NAME: CADIZ PROPERTIES, INC. Monthly Operating Report
CASE NUMBER: 01-80459-RCM-11 ACCRUAL BASIS-2
INCOME STATEMENT
REVENUES MONTH MONTH MONTH QUARTER
TOTAL
January, 2002
1. GROSS REVENUE 154,887 154,887
2. LESS : RETURNS & DISCOUNTS - -
3. NET REVENUE 154,887 154,887
COST OF GOODS SOLD
4. MATERIAL - -
5. DIRECT LABOR - -
6. DIRECT OVERHEAD - -
7. TOTAL COST OF GOODS SOLD - -
8. GROSS PROFIT 154,887 154,887
OPERATING EXPENSES
9. OFFICER/INSIDER COMPENSATION - -
10. SELLING & MARKETING - -
11. GENERAL AND ADMINISTRATIVE 25 25
12. RENT AND LEASE - -
13. OTHER (ATTACH LIST) - -
14. TOTAL OPERATING EXPENSES 25 25
15. INCOME BEFORE NON-OPERATING INCOME 154,642 154,642
AND EXPENSE
OTHER INCOME & EXPENSES
16. NON-OPERATING INCOME (ATT. LIST) - -
17. NON-OPERATING EXPENSES (ATT. LIST) - -
18. INTEREST EXPENSE 51,110 51,110
19. DEPRECIATION/DEPLETION 21,041 21,041
20. AMORTIZATION 1,706 1,706
21. OTHER (ATTACH LIST) - -
22. NET OTHER INCOME & EXPENSES 73,857 73,857
REORGANIZATION EXPENSES
23. PROFESSIONAL FEES - -
24. U.S. TRUSTEE FEES 250 250
25. OTHER (ATTACH LIST) - -
26. TOTAL REORGANIZATION EXPENSES 250 250
27. INCOME TAX - -
28. NET PROFIT (LOSS) 80,535 80,535
CASE NAME: CADIZ PROPERTIES, INC. Monthly Operating Report
CASE NUMBER: 01-80459-RCM-11 ACCRUAL BASIS-3
CASH RECEIPTS AND DISBURSEMENTS MONTH MONTH MONTH QUARTER
TOTAL
January, 2002
1. CASH-BEGINNING OF MONTH 4,161 4,161
RECEIPTS FROM OPERATIONS
2. CASH SALES - -
COLLECTION OF ACCOUNTS RECEIVABLES
3. PREPETITION - -
4. POSTPETITION - -
5. TOTAL OPERATING RECEIPTS - -
NON-OPERATING RECEIPTS
6. LOANS & ADVANCES (ATTACH LIST) - -
7. SALE OF ASSETS - -
8. OTHER (ATTACH LIST) - -
9. TOTAL NON-OPERATING RECEIPTS - -
10. TOTAL RECEIPTS - -
11. TOTAL CASH AVAILABLE 4,161 4,161
OPERATING DISBURSEMENTS
12. NET PAYROLL - -
13. PAYROLL TAXES PAID - -
14. SALES, USE & OTHER TAXES PAID - -
15. SECURED/RENTAL/LEASES - -
16. UTILITIES - -
17. INSURANCE - -
18. INVENTORY PURCHASES - -
19. VEHICLE EXPENSES - -
20. TRAVEL - -
21. ENTERTAINMENT - -
22. REPAIRS & MAINTENANCE - -
23. SUPPLIES - -
24. ADVERTISING - -
25. OTHER (ATTACH LIST) 25 25
26. TOTAL OPERATING DISBURSEMENTS 25 25
REORGANIZATION EXPENSES
27. PROFESSIONAL FEES - -
28. U.S. TRUSTEE FEES 250 250
29. OTHER (ATTACH LIST)1 - -
30. TOTAL REORGANIZATION EXPENSES 250 250
31. TOTAL DISBURSEMENTS 275 275
32. NET CASH FLOW (275) (275)
33. CASH - END OF MONTH 3,886 3,886
CASE NAME: CADIZ PROPERTIES, INC. MOR-3
CASE NUMBER: 01-80459-RCM-11
25. Bank Charges $ 25.00
CASE NAME: CADIZ PROPERTIES, INC. Monthly Operating Report
CASE NUMBER: 01-80459-RCM-11 ACCRUAL BASIS-4
MONTH MONTH MONTH
ACCOUNTS RECEIVABLE ACCOUNTS
January, 2002
1. 0-30
2. 31-60
3. 61-90
4. 91+
5. TOTAL ACCOUNTS RECEIVABLE
6. AMOUNT CONSIDERED UNCOLLECTIBLE
7. ACCOUNTS RECEIVABLE (NET) 0
AGING OF POSTPETITION TAXES AND PAYABLES MONTH: January, 2002
TAXES PAYABLE 0-30 DAYS 31-60 DAYS 61-90 DAYS 91+ DAYS TOTAL
1. FEDERAL
2. STATE
3. LOCAL
4. OTHER (ATTACH LIST)
5. TOTAL TAXES PAYABLE 0 0 0 0 0
6. ACCOUNTS PAYABLE 0 0 0 0 0
STATUS OF POSTPETITION TAXES MONTH: DECEMBER 2001
FEDERAL BEGINNING AMOUNT AMOUNT ENDING TAX
TAX WITHHELD OR PAID LIABILITY
LIABILITY ACCRUED
1. WITHHOLDING**
2. FICA-EMPLOYEE**
3. FICA-EMPLOYER**
4. UNEMPLOYMENT
5. INCOME
6. OTHER (ATTACH LIST)
7. TOTAL FEDERAL TAXES 0 0 0 0
STATE AND LOCAL
8. WITHHOLDING
9. SALES
10. EXCISE
11. UNEMPLOYMENT
12. REAL PROPERTY
13. PERSONAL PROPERTY
14. OTHER (ATTACH LIST)
15. TOTAL STATE & LOCAL 0 0 0 0
16. TOTAL TAXES 0 0 0 0
CASE NAME: CADIZ PROPERTIES, INC. Monthly Operating Report
CASE NUMBER: 01-80459-RCM-11 ACCRUAL BASIS-5
The debtor in possession must complete the reconciliation below for each bank
account, including all general, payroll and tax accounts, as well as all savings
and investment accounts, money market accounts, certificates of deposit,
government obligations, etc. Accounts with restricted funds should be identified
by placing an asterisk next to the account number. Attach additional sheets if
necessary.
MONTH: January, 2002
BANK RECONCILIATIONS Account #1 Account #2 Account #3 TOTAL
A. BANK Comerica
B. ACCOUNT NUMBER 1880058878
C. PURPOSE (TYPE)
1. BALANCE PER BANK STATEMENT 3,886 3,886
2. ADD: TOTAL DEPOSITS NOT
CREDITED
3. SUBTRACT OUTSTANDING CHECKS
4. OTHER RECONCILING ITEMS
5. MONTH END BALANCE PER BOOKS 3,886 3,886
6. NUMBER OF LAST CHECK WRITTEN 1052
INVESTMENT ACCOUNTS
DATE OF TYPE OF PURCHASE CURRENT
BANK ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE
7.
8.
9.
10.
11. TOTAL INVESTMENTS 0 0 0 0
CASH
12. CURRENT ON HAND 0
13. TOTAL CASH - END OF MONTH 3,886
CASE NAME: CADIZ PROPERTIES, INC. Monthly Operating Report
CASE NUMBER: 01-80459-RCM-11 ACCRUAL BASIS-6
PAYMENTS TO INSIDERS AND PROFESSIONALS MONTH: January, 2002
OF THE TOTAL DISBURSEMENTS SHOWN FOR THE MONTH, LIST THE AMOUNT PAID TO INSIDERS
(AS DEFINED IN SECTION 101(31) (A)-(F) OF THE U.S. BANKRUPTCY CODE) AND TO
PROFESSIONALS. ALSO, FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF COMPENSATION
PAID (I.E. SALARY, BONUS, COMMISSION, INSURANCE, HOUSING ALLOWANCE, TRAVEL, CAR
ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSIDERS
NAME TYPE OF AMOUNT PAID TOTAL PAID TO
INSTRUMENT DATE
1.
2.
3.
4.
5.
6. TOTAL PAYMENTS 0 0
TO INSIDERS
PROFESSIONALS
NAME DATE OF AMOUNT AMOUNT TOTAL PAID TOTAL
COURT APPROVED PAID TO DATE INCURRED
ORDER AND UNPAID*
AUTHORIZING
PAYMENT
1.
2.
3.
4.
5.
6. TOTAL 0 0 0 0 0
PAYMENTS TO
PROFESSIONALS
*INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION
PAYMENTS
NAME OF CREDITOR SCHEDULED AMOUNT PAID TOTAL UNPAID
MONTHLY DURING MONTH POSTPETITION
PAYMENTS DUE
1. Morgan Guaranty 69,782 0 69,782
2.
3.
4.
5.
6. TOTAL PAYMENTS 0 69,782
TO PROFESSIONALS
CASE NAME: CADIZ PROPERTIES, INC. Monthly Operating Report
CASE NUMBER: 01-80459-RCM-11 ACCRUAL BASIS-7
QUESTIONNAIRE MONTH: DECEMBER 2001
YES NO
1. HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE X
NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD?
2. HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER X
THAN A DEBTOR IN POSSESSION ACCOUNT?
3. ARE ANY POST PETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) X
DUE FROM RELATED PARTIES?
4. HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS X
REPORTING PERIOD?
5. HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR X
FROM ANY PARTY?
6. ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? X
7. ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? X
8. ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? X
9. ARE ANY OTHER POSTPETITION TAXES PAST DUE? X
10. ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS X
DELINQUENT?
11. HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING X
PERIOD?
12. ARE ANY WAGE PAYMENTS PAST DUE? X
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES," PROVIDE A DETAILED
EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSURANCE
1. ARE WORKERS' COMPENSATION, GENERAL LIABILITY AND OTHER X
NECESSARY INSURANCE COVERAGES IN EFFECT?
2. ARE ALL PREMIUM PAYMENTS PAID CURRENT? X
3. PLEASE ITEMIZE POLICIES BELOW.
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO," OR IF ANY POLICIES HAVE
BEEN CANCELED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN
EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
All insurance coverage is maintained by debtor's parent Alford Refrigerated
Warehouses, Inc., Case No. 01-39776- BJH-11
INSTALLMENT PAYMENTS
TYPE OF POLICY CARRIER PERIOD COVERED PAYMENT AMOUNT
& FREQUENCY
CASE NAME: CADIZ PROPERTIES, INC. MOR-7
CASE NUMBER: 01-80459-RCM-11
Questionnaire:
3. Rent receivable is due from Debtor's parent, Alford Refrigerated
Warehouses, Inc.
Case #01-39776-BJH-11
Insurance:
All insurance coverage is maintained by Debtor's parent, Alford Refrigerated
Warehouses, Inc.
Case #01-39776-BJH-11