FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(Mark One)
[x] Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934
For the quarterly period ended March 31, 2000
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[ ] Transition report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the transition period from _______________ to _______________
Commission File Number: 0-16939
JONES SPACELINK INCOME/GROWTH FUND 1-A, LTD.
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Exact name of registrant as specified in charter
Colorado #84-1069504
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State of organization IRS employer I.D. #
c/o Comcast Corporation
1500 Market Street, Philadelphia, PA 19102-2148
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Address of principal executive office
(215) 665-1700
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Registrant's telephone number
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
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JONES SPACELINK INCOME/GROWTH FUND 1-A, LTD.
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(A Limited Partnership)
UNAUDITED BALANCE SHEETS
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March 31, December 31,
ASSETS 2000 1999
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Receivable from affiliates $ 919,998 $ 940,847
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Total assets $ 919,998 $ 940,847
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PARTNERS' CAPITAL
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General Partner-
Contributed capital $ 1,000 $ 1,000
Distributions (103,950) (103,950)
Accumulated earnings 102,950 102,950
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- -
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Limited Partners-
Net contributed capital (51,276 units outstanding at
March 31, 2000 and December 31, 1999) 21,875,852 21,875,852
Distributions (30,206,680) (30,206,680)
Accumulated earnings 9,250,826 9,271,675
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919,998 940,847
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Total partners' capital 919,998 940,847
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Total liabilities and partners' capital $ 919,998 $ 940,847
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The accompanying notes to unaudited financial statements
are an integral part of these unaudited balance sheets.
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JONES SPACELINK INCOME/GROWTH FUND 1-A, LTD.
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(A Limited Partnership)
UNAUDITED STATEMENTS OF OPERATIONS
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For the Three Months Ended
March 31,
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2000 1999
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OTHER INCOME (EXPENSE):
Interest expense $ - $ (2,211)
Interest income - 11,250
Other, net (20,849) (15,287)
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Total other income (expense), net (20,849) (6,248)
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NET LOSS $(20,849) $ (6,248)
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ALLOCATION OF NET LOSS:
General Partner $ - $ -
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Limited Partners $(20,849) $ (6,248)
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NET LOSS PER LIMITED PARTNERSHIP UNIT $ (0.41) $ (0.12)
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WEIGHTED AVERAGE NUMBER OF LIMITED
PARTNERSHIP UNITS OUTSTANDING 51,276 51,276
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The accompanying notes to unaudited financial statements
are an integral part of these unaudited statements.
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JONES SPACELINK INCOME/GROWTH FUND 1-A, LTD.
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(A Limited Partnership)
UNAUDITED STATEMENTS OF CASH FLOWS
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For the Three Months Ended
March 31,
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2000 1999
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CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss $(20,849) $ (6,248)
Adjustments to reconcile net loss to net cash
provided by operating activities:
Increase in proceeds from sale in escrow - (33,750)
Transactions with affiliates 20,849 4,808
Increase in accounts payable and accrued liabilities
and subscriber prepayments and deposits - 35,190
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Net cash provided by operating activities - -
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Net change in cash - -
Cash, beginning of period - -
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Cash, end of period $ - $ -
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SUPPLEMENTAL CASH FLOW DISCLOSURE:
Interest paid $ - $ -
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The accompanying notes to unaudited financial statements
are an integral part of these unaudited statements.
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JONES SPACELINK INCOME/GROWTH FUND 1-A, LTD.
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(A Limited Partnership)
NOTES TO UNAUDITED FINANCIAL STATEMENTS
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(1) This Form 10-Q is being filed in conformity with the SEC requirements for
unaudited financial statements and does not contain all of the necessary
footnote disclosures required for a complete presentation of the Balance Sheets
and Statements of Operations and Cash Flows in conformity with generally
accepted accounting principles. However, in the opinion of management, this data
includes all adjustments, consisting only of normal recurring accruals,
necessary to present fairly the financial position of Jones Spacelink
Income/Growth Fund 1-A, Ltd. (the "Partnership") at March 31, 2000 and December
31, 1999 and its Statements of Operations and Cash Flows for the three month
periods ended March 31, 2000 and 1999. Certain prior period amounts have been
reclassified to conform to the 2000 presentation.
The Partnership has sold all of its cable television systems. The
Partnership will be dissolved after the pending litigation in which the
Partnership is a named defendant has been resolved and terminated.
On April 7, 1999, Comcast Corporation ("Comcast") completed the acquisition
of a controlling interest in Jones Intercable, Inc. ("Jones Intercable"), the
Partnership's general partner until March 2, 2000. In December 1999, Comcast and
Jones Intercable entered into a definitive merger agreement pursuant to which
Comcast agreed to acquire all of the outstanding shares of Jones Intercable not
yet owned by Comcast. On March 2, 2000, Jones Intercable was merged with and
into Comcast JOIN Holdings, Inc., a wholly owned subsidiary of Comcast. Comcast
JOIN Holdings, Inc. continues as the surviving corporation of the merger. As a
result of this transaction, Jones Intercable no longer exists and Comcast JOIN
Holdings, Inc. is now the general partner of the Partnership. References in
these Notes to "the General Partner" refer to Comcast JOIN Holdings, Inc. The
General Partner shares corporate offices with Comcast at 1500 Market Street,
Philadelphia, Pennsylvania 19102-2148.
(2) The Partnership reimburses its general partner and certain of its
subsidiaries for certain administrative expenses. These expenses represent the
salaries and related benefits paid for corporate personnel. Such personnel
provide administrative, accounting, tax, legal, and investor relations services
to the Partnership. Such services, and their related costs, are necessary to the
administration of the Partnership until the Partnership is dissolved. Such costs
were charged to other expense on the Statements of Operations. Reimbursements
made to the general partner by the Partnership for administrative expenses were
$12,321 and $101 for the three month periods ended March 31, 2000 and 1999,
respectively.
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JONES SPACELINK INCOME/GROWTH FUND 1-A, LTD.
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(A Limited Partnership)
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
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FINANCIAL CONDITION AND RESULTS OF OPERATIONS
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FINANCIAL CONDITION
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The Partnership has sold all of its cable television systems. The
Partnership will be dissolved after the pending litigation in which the
Partnership is a named defendant has been resolved and terminated.
RESULTS OF OPERATIONS
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The Partnership has sold all of its cable television systems. Other expense
of $20,849 incurred in the first quarter of 2000 related to various costs
associated with the administration of the Partnership.
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PART II - OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K.
a) Exhibits
27) Financial Data Schedule
b) Reports on Form 8-K
None
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
JONES SPACELINK INCOME/GROWTH FUND 1-A, LTD.
BY: COMCAST JOIN HOLDINGS, INC.
General Partner
By: /S/ Lawrence J. Salva
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Lawrence J. Salva
Senior Vice President
(Principal Accounting Officer)
Dated: May 15, 2000
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