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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 September 30, 1995.
[ ] 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 0-19075
Jones Programming Partners 1-A, Ltd.
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Exact name of registrant as specified in charter
Colorado #84-1088820
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State of organization I.R.S. employer I.D.#
9697 East Mineral Avenue, P.O. Box 3309, Englewood, Colorado 80155-3309
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Address of principal executive office
(303) 792-3111
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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
l934 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 PROGRAMMING PARTNERS 1-A, LTD.
INDEX
Page
Number
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PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
Unaudited Balance Sheets
September 30, 1995 and December 31, 1994 3-4
Unaudited Statements of Operations
Three and Nine Months Ended September 30, 1995 and 1994 5
Unaudited Statements of Cash Flows
Nine Months Ended September 30, 1995 and 1994 6
Notes to Unaudited Financial Statements
September 30, 1995 7-8
Item 2. Management's Discussion and Analysis of
Financial Condition and Results of Operations 9-11
PART II. OTHER INFORMATION 12
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JONES PROGRAMMING PARTNERS 1-A, LTD.
(A Limited Partnership)
UNAUDITED BALANCE SHEETS
September 30, December 31,
1995 1994
------------- ------------
ASSETS
------
CASH AND CASH EQUIVALENTS $ 367,627 $ 668,088
RECEIVABLES:
Foreign income receivable 225,175 185,007
Domestic income receivable, net of unamortized
discount of $0 and $7,858 as of September 30, 1995 and
December 31, 1994, respectively 200,000 192,142
INVESTMENT IN AND ADVANCES FOR FILM PRODUCTION,
net of accumulated amortization of $7,918,120 and $7,458,205
as of September 30, 1995 and December 31, 1994, respectively 969,086 1,450,888
OTHER ASSETS - 2,857
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Total assets $1,761,888 $2,498,982
========== ==========
The accompanying notes to unaudited financial statements
are an integral part of these unaudited statements.
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JONES PROGRAMMING PARTNERS 1-A, LTD.
(A Limited Partnership)
UNAUDITED BALANCE SHEETS
September 30, December 31,
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT) 1995 1994
------------------------------------------- ------------- -----------
LIABILITIES:
Accounts payable to affiliates $ - $ 1,100
Accrued distributions payable to partners 160,897 160,897
Accrued liabilities 7,457 7,513
------------ -----------
Total liabilities 168,354 169,510
------------ -----------
PARTNERS' CAPITAL (DEFICIT):
General partner -
Contributed capital 1,000 1,000
Distributions (32,786) (27,959)
Accumulated deficit (6,244) (3,712)
------------ -----------
Total general partner deficit (38,030) (30,671)
------------ -----------
Limited partners -
Contributed capital, net of offering costs
(12,743 units outstanding as of September 30, 1995
and December 31, 1994) 5,459,327 5,459,327
Distributions (3,245,774) (2,767,910)
Accumulated deficit (581,989) (331,274)
------------ -----------
Total limited partners' capital 1,631,564 2,360,143
------------ -----------
Total partners' capital 1,593,534 2,329,472
------------ -----------
Total liabilities and partners' capital $ 1,761,888 $ 2,498,982
============ ===========
The accompanying notes to unaudited financial statements
are an integral part of these unaudited statements.
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JONES PROGRAMMING PARTNERS 1-A, LTD.
(A Limited Partnership)
UNAUDITED STATEMENTS OF OPERATIONS
For the Three Months Ended For the Nine Months Ended
September 30, September 30,
-------------------------- ------------------------
1995 1994 1995 1994
---------- ---------- --------- ---------
GROSS REVENUES $ 89,787 $ 80,375 $ 262,169 $ 262,929
COSTS AND EXPENSES:
Costs of filmed entertainment 87,913 38,478 215,751 210,013
Distribution fees and expenses 18,465 13,782 51,231 53,566
Operating, general and administrative expenses 6,001 6,735 25,644 30,606
---------- ---------- --------- ---------
Total costs and expenses 112,379 58,995 292,626 294,185
---------- ---------- --------- ---------
OPERATING INCOME (LOSS) (22,592) 21,380 (30,457) (31,256)
---------- ---------- --------- ---------
OTHER INCOME (EXPENSE):
Interest income 6,374 6,514 21,374 16,123
Loss from write-down of film production
(See note 3) (244,164) - (244,164) -
---------- ---------- --------- ---------
Other income (expense), net (237,790) 6,514 (222,790) 16,123
---------- ---------- --------- ---------
NET INCOME (LOSS) $ (260,382) $ 27,894 $(253,247) $ (15,133)
========== ========== ========= =========
ALLOCATION OF NET INCOME (LOSS):
General Partner $ (2,604) $ 279 $ (2,532) $ (151)
========== ========== ========= =========
Limited Partners $ (257,778) $ 27,615 $(250,715) $ (14,982)
========== ========== ========= =========
NET INCOME (LOSS) PER LIMITED
PARTNERSHIP UNIT $ (20.23) $ 2.17 $ (19.67) $ (1.18)
========== ========== ========= =========
WEIGHTED AVERAGE NUMBER OF
LIMITED PARTNERSHIP UNITS
OUTSTANDING 12,743 12,743 12,743 12,743
========== ========== ========= =========
The accompanying notes to unaudited financial statements
are an integral part of these unaudited statements.
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JONES PROGRAMMING PARTNERS 1-A, LTD.
(A Limited Partnership)
UNAUDITED STATEMENTS OF CASH FLOWS
For the Nine Months Ended
September 30,
------------------------------------
1995 1994
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CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss $ (253,247) $ (15,133)
Adjustments to reconcile net loss to net cash
provided by (used in) operating activities:
Amortization of filmed entertainment costs 215,751 210,013
Loss from write-down of film production 244,164 -
Amortization of discount (7,858) (15,106)
Decrease (increase) in foreign income receivable (40,168) 385,553
Decrease in other assets 2,857 4,287
Decrease in accounts payable to affiliates (1,100) (225,418)
Decrease in accrued liabilities (56) (1,208)
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Net cash provided by operating activities 160,343 342,988
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CASH FLOWS FROM INVESTING ACTIVITIES:
Net (increase) decrease in production advances 21,887 (8,974)
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Net cash provided by (used in) investing activities 21,887 (8,974)
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CASH FLOWS FROM FINANCING ACTIVITIES:
Distributions to partners (482,691) (482,691)
----------- ----------
Net cash used in financing activities (482,691) (482,691)
----------- ----------
DECREASE IN CASH AND CASH EQUIVALENTS (300,461) (148,677)
CASH AND CASH EQUIVALENTS, beginning of period 668,088 834,066
----------- ----------
CASH AND CASH EQUIVALENTS, end of period $ 367,627 $ 685,389
=========== ==========
The accompanying notes to unaudited financial statements
are an integral part of these unaudited statements.
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JONES PROGRAMMING PARTNERS 1-A, LTD.
(A Limited Partnership)
NOTES TO UNAUDITED FINANCIAL STATEMENTS
(1) BASIS OF PRESENTATION
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 fair 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 Programming Partners 1-A, Ltd.
(the "Partnership") as of September 30, 1995 and December 31, 1994 and
its results of operations and its cash flows for the three and nine
month periods ended September 30, 1995 and 1994. Results of
operations for these periods are not necessarily indicative of results
to be expected for the full year. Certain prior year amounts have
been reclassified to conform to the 1995 presentation.
(2) TRANSACTIONS WITH AFFILIATED ENTITIES
The General Partner is entitled to reimbursement from the Partnership
for its direct and indirect expenses allocable to the operations of
the Partnership, which shall include, but not be limited to, rent,
supplies, telephone, travel, legal expenses, accounting and auditing
expenses, preparation and distribution of reports to investors and
salaries of any full or part-time employees. Although the General
Partner is entitled to reimbursement for all direct and indirect
expenses allocable to the Partnership, the Partnership was charged
$3,068 and $1,905 for direct expenses only for the three month periods
ended September 30, 1995 and 1994, respectively. For the nine month
periods ended September 30, 1995 and 1994, $8,461 and $4,125,
respectively, were charged to the Partnership for direct expenses.
(3) INVESTMENT IN AND ADVANCES FOR FILM PRODUCTION
"The Little Kidnappers"
In January 1990, the General Partner, on behalf of the Partnership,
entered into an agreement with Jones Maple Leaf Productions ("Maple
Leaf") to produce a full-length feature film for television entitled
"The Little Kidnappers." The total film cost was approximately
$3,200,000. Of this amount, the Partnership invested approximately
$2,794,000, which included a production and overhead fee of $300,000
paid to the General Partner. As of September 30, 1995, the
Partnership's net investment in the film, after consideration of
amortization, is $123,375. From inception to September 30, 1995, the
Partnership has recognized approximately $2,887,000 of gross revenue
from this film, which includes the initial license fees of
approximately $1,365,000 from The Disney Channel and the Canadian
Broadcasting Corporation, which was used to finance the film's
production.
"The Story Lady"
In April 1991, the General Partner, on behalf of the Partnership,
entered into an agreement with NBC Productions, Inc. ("NBC") for the
production of a full-length made-for-television film entitled "The
Story Lady." The total cost of the film was approximately $4,300,000.
Of this amount, the Partnership invested approximately $1,183,000 in
return for world-wide distribution rights to this film, excluding
United States and Canadian broadcast television rights. Included in
the total amount invested is a production and overhead fee of $120,000
paid to the General Partner. As of September 30, 1995, the
Partnership's net investment in the film, after consideration of
amortization, was $13,211. From inception to September 30, 1995, the
Partnership has recognized approximately $1,491,000 of revenue from
this film.
"Curacao"
In October 1992, the General Partner, on behalf of the Partnership,
entered into an agreement with Showtime Networks, Inc. ("Showtime")
for the production of a full-length made-for-television film entitled
"Curacao." The total cost of the film was approximately $4,410,000.
In addition to the costs of production, the Partnership paid the
General Partner $500,000 as a production and overhead fee for services
rendered in connection with arranging the Showtime pre-sale and
supervising production of this picture. From inception to September
30, 1995, the Partnership has recognized approximately $3,894,000 of
gross revenue from this film, which includes the initial license fee
and home video advance from Showtime of $2,650,000, which was used to
finance the film's production.
During the third quarter of 1995, the General Partner reassessed the
anticipated total gross revenue remaining from the distribution of
"Curacao" in available international and domestic television markets.
Based on revised television sales
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projections by unexploited territory, a reduction was made to the
Partnership's estimate of total gross revenue to be recognized from
the future distribution of the film. In accordance with Statement of
Financial Accounting Standards ("SFAS") No. 53, unamortized film
production costs are to be periodically compared with the net
realizable value of a film, which is determined based on the total
estimated future gross revenues from the film less any direct costs of
distribution. If estimated future gross revenues from a film are not
sufficient to recover the unamortized film costs and related
distribution expenses, the unamortized film costs are to be written
down to the film's net realizable value. Accordingly, based on the
reduced revenue projections for the film (primarily in international
television revenues), a determination was made by the General Partner
that the Partnership's net investment in "Curacao" of $1,076,664
exceeded the film's estimated net realizable value of $832,500 as of
September 30, 1995. As a result, a loss from write-down of film
production of $244,164 was incurred to write-down the unamortized cost
of the film to its net realizable value. The film's net realizable
value was calculated based on the General Partner's estimate of
anticipated revenues remaining over the life of the film from
international and domestic television distribution, net of estimated
distribution fees and costs, as of September 30, 1995. These revenue
projections were estimated by the General Partner based on the film's
prior distribution history, the remaining international and domestic
territories available to the film for future television distribution,
and the General Partner's previous distribution experience with other
films. As of September 30, 1995, the Partnership's net investment in
the film, after consideration of amortization and the write-down
discussed above, was $832,500.
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JONES PROGRAMMING PARTNERS 1-A, LTD.
(A Limited Partnership)
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
FINANCIAL CONDITION
Liquidity and Capital Resources
The Partnership's principal sources of liquidity are cash on hand and amounts
received from the domestic and international distribution of the Partnership's
programming. The Partnership had $367,627 in cash as of September 30, 1995.
It is not anticipated that the Partnership will invest in any additional
programming projects, but instead will focus on the distribution of its
existing projects. The Partnership had outstanding amounts receivable from
unaffiliated distributors totaling approximately $425,000 as of September 30,
1995. Approximately $225,000 of this amount will be paid to the Partnership as
collected by the distributors and $200,000 of this amount, which represents the
final payment for the domestic home video rights for "The Little Kidnappers,"
was paid in October 1995.
For the nine months ended September 30, 1995, the Partnership declared
distributions to partners totalling $482,691, of which $160,897 was paid in May
1995 and $160,897 was paid in August 1995, with the remaining $160,897 to be
paid in November 1995. These distributions are made using cash on hand,
interest income and cash provided by operating activities. Distributions are
expected to continue, although no determination has been made regarding any
specific level of future distributions. Distributions reduce the financial
flexibility of the Partnership.
The General Partner believes that the Partnership has, and will continue to
have, sufficient liquidity to conduct its operations and to meet its
obligations. Liquidity will come primarily from the Partnership's programming
projects as follows:
"The Little Kidnappers"
During 1990, the Partnership invested approximately $2,794,000 in a film
entitled "The Little Kidnappers." The Partnership advanced funds as production
advances to Maple Leaf to complete the film. In return for such production
advances, the Partnership received all distribution rights in perpetuity in all
markets except Canada. The General Partner, on behalf of the Partnership,
licensed the film to The Disney Channel and Maple Leaf licensed the film to the
Canadian Broadcasting Corporation. Aggregate license fees of approximately
$1,365,000 were received from these licensees. The original Disney Channel
license expired in September 1993. The General Partner has relicensed the film
to The Disney Channel for an additional license period of five years beginning
January 1, 1994 for an additional fee of $300,000. As of September 30, 1995,
the Partnership had received $200,000 from The Disney Channel and is expected
to receive the remaining $100,000 in 1996. The Canadian Broadcasting
Corporation license expired in the second quarter of 1994 and was not renewed.
In April 1991, the General Partner, on behalf of the Partnership, entered into
a distribution agreement with an unaffiliated party granting rights to
distribute "The Little Kidnappers" in the non-theatrical domestic markets
(defined as 16mm sales and rentals, in-flight, oil rigs, ships at sea, military
installations, libraries, restaurants, hotels, motels or other institutional or
commercial enterprises). As of September 30, 1995, gross sales made under this
arrangement totaled $94,190, of which $23,548 was retained by the distributor
for its fees.
In July 1991, the General Partner, on behalf of the Partnership, entered into
an agreement with an unaffiliated party granting the rights to distribute "The
Little Kidnappers" in the domestic home video market for a period not to exceed
five years. Under this agreement, the Partnership received a minimum guarantee
of $500,000, of which $100,000 was received upon delivery of the film in
October 1991. The Partnership discounted the remaining $400,000 at an imputed
interest rate of 8%, which created a discount of $79,157. This discount became
fully amortized as of September 30, 1995. The Partnership received $50,000 in
October 1992, $75,000 in October 1993 and $75,000 in October 1994. The
remaining balance as of September 30, 1995 of $200,000 was received in October
1995.
In the third quarter of 1990, the General Partner, on behalf of the
Partnership, entered into a distribution agreement with an unaffiliated party,
granting the rights to distribute "The Little Kidnappers" in international
television and international home video markets for a period of five years.
This agreement expired in October 1995 as the international distribution rights
are now being handled by the General Partner on behalf of the Partnership. The
General Partner will earn a distribution fee equal to 25 percent of gross
international sales and will recover its actual distribution and marketing
costs incurred, with remaining net revenues to be paid to the Partnership. As
of September 30, 1995, international gross sales made under the original
distribution agreement totaled
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$1,134,175, of which $357,347 was retained by the distributor for its fees and
marketing costs. The remaining $776,828 will be paid to the Partnership as
collected by the distributor. As of September 30, 1995, the Partnership had
received $765,383 of such amount. The remaining $11,445 will be paid to the
Partnership over the next three to twenty-four months as collected by the
distributor. Such collections by the distributor will generally occur as the
film becomes available for exhibition within the respective territories. The
Partnership plans to recover its remaining net investment in this film of
$123,375 from net revenues to be generated in remaining worldwide television
and home video markets by direct distribution efforts to be made on behalf of
the Partnership by the General Partner.
"The Story Lady"
In 1991, the General Partner, on behalf on the Partnership, entered into an
agreement with NBC Productions, Inc. ("NBC") for the production of a
full-length made-for-television film entitled "The Story Lady." The total cost
of the film was approximately $4,300,000, and the Partnership invested its
share of approximately $1,183,000 in return for all distribution rights to this
film after the contractual airings on the NBC television network, which have
been completed.
In 1992, the General Partner, on behalf of the Partnership, entered into a
distribution agreement with an unaffiliated party, granting rights to
distribute "The Story Lady" in the non-theatrical domestic markets. As of
September 30, 1995, gross sales made under this arrangement totaled $300,969,
of which $75,241 was retained by the distributor for its fees. The remaining
$225,728 has been received by the Partnership. The General Partner, on behalf
of the Partnership, entered into an agreement with The Disney Channel, granting
The Disney Channel exclusive domestic television rights to the film for one
year, from September 1994 until September 1995, for a license fee of $40,000.
Of this license fee, $26,667 was received in July 1994, with the remaining
balance of $13,333 received in April 1995. In addition, the film was
distributed in the domestic home video market by the General Partner and a
third party consultant beginning in the second quarter of 1994. As of
September 30, 1995, net sale proceeds under this arrangement totaled $99,312,
which were applied towards the General Partner's recoupment of its total
distribution costs of $120,653. Upon full recoupment of the General Partner's
remaining distribution costs of $21,341, any additional sales, net of fees,
will flow to the Partnership.
On behalf of the Partnership, the General Partner has sub-licensed under the
NBC agreement international television and home video distribution rights to a
distribution affiliate of NBC for approximately eight years. As of September
30, 1995, international gross sales totaled $1,117,295, of which $291,669 was
retained by the distributor for its fees and marketing costs, with the
remaining $825,626 due to the Partnership. As of September 30, 1995, the
Partnership had received $782,235 of such amounts. The remaining $43,391 will
be paid to the Partnership over the next three to twenty- four months as
collected by the distributor. The Partnership plans to recover its remaining
net investment in this film of $13,211 from net revenues generated from
available domestic and international markets.
"Curacao"
In October 1992, the General Partner, on behalf of the Partnership, entered
into an agreement with Showtime Networks, Inc. ("Showtime") for the production
of a full-length made-for-television film entitled "Curacao." The total cost
of the film was approximately $4,410,000. In addition to the costs of
production, the Partnership paid the General Partner $500,000 as a production
and overhead fee for services rendered in connection with arranging the
Showtime pre-sale and supervising production of this picture.
The Partnership has received license fees and a home video advance totaling
$2,650,000 from Showtime in return for granting Showtime a pay television
license through 1997 and the right to market domestic home video rights for
seven years. Home video revenues in excess of $875,000 will be shared 50/50
between the Partnership and Showtime until Showtime has received $1,875,000
after which the Partnership will receive all of the home video revenues. It is
unlikely that the Partnership will receive any additional revenues beyond the
original Showtime advance from the domestic home video distribution of
"Curacao."
In May 1993, the General Partner, on behalf of the Partnership, entered into a
distribution agreement with an unaffiliated party, granting rights to
distribute "Curacao" in the non-theatrical domestic markets. As of September
30, 1995, gross sales made under this arrangement totaled $117,358, of which
$29,340 was retained by the distributor for its fees.
The Partnership has contracted with an unaffiliated international sales agent
to market theatrical, home video, and television rights outside the United
States and Canada for a period of five years. The General Partner approved an
agreement negotiated by the international sales agent with an unaffiliated
party to market international theatrical and home video rights for a period of
ten years. The terms of such agreement provide for an advance payment of
$950,000 against international theatrical and home video revenues. The payment
has been received by the Partnership net of distribution fees and expenses
retained by the distributor. No international theatrical or home video
overages are expected to be received. International television sales continue
and are remitted to the Partnership, net of distribution fees and expenses, as
collected by the distributor. As of September 30, 1995, the Partnership had
recorded international gross revenues of $1,124,953, of which $322,988 was
retained by the distributor for its fees and marketing
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costs, with the remaining $801,965 due to the Partnership. As of September 30,
1995, the Partnership had received $731,626 of such amounts. The remaining
$70,339 was received by the Partnership in November 1995.
On a quarterly basis, the General Partner reassesses the anticipated total
gross revenue remaining from the distribution of "Curacao" in available
international and domestic television markets. Based on revised television
sales projections by unexploited territory, a reduction was made to the
Partnership's estimate of total gross revenue to be recognized from the future
distribution of the film. Accordingly, based on the reduced revenue projections
for the film (primarily in international television revenues), a determination
was made by the General Partner that the Partnership's net investment in
"Curacao" of $1,076,664 exceeded the film's estimated net realizable value of
$832,500 as of September 30, 1995. As a result, a loss from write-down of film
production of $244,164 was incurred to write-down the unamortized cost of the
film to its net realizable value. The film's net realizable value was
calculated based on the General Partner's estimate of anticipated revenues
remaining over the life of the film from international and domestic television
distribution, net of estimated distribution fees and costs, as of September 30,
1995. These revenue projections were estimated by the General Partner based on
the film's prior distribution history, the remaining international and domestic
territories available to the film for future television distribution, and the
General Partner's previous distribution experience with other films. As of
September 30, 1995, the Partnership's net investment in the film, after
consideration of amortization and the write-down discussed above, was $832,500.
The Partnership plans to recover its remaining net investment in this film of
$832,500 from the net revenues generated from remaining international and
domestic television markets.
RESULTS OF OPERATIONS
Revenues of the Partnership increased $9,412, from $80,375 for the three months
ended in September 30, 1994 to $89,787 for the three months ended September 30,
1995. This increase is primarily the result of an increase in international
sales of "Curacao," which were $87,810 for the three months ended September 30,
1995 as compared to $0 for the same period in 1994. This increase in "Curacao"
international sales was partially offset by a decrease in domestic sales of the
film, which were $340 for the three months ended September 30, 1995 as compared
to $25,306 for the same period in 1994. International and domestic sales for
"The Little Kidnappers" and "The Story Lady" decreased $21,936 and $31,496,
respectively, for the three month period ended September 30, 1995 as compared
to the same period in 1994.
Filmed entertainment costs increased $49,435, from $38,478 for the three months
ended September 30, 1994 to $87,913 for the three months ended September 30,
1995 and increased $5,738, from $210,013 for the nine months ended September
30, 1994 to $215,751 for the nine months ended September 30, 1995. These
increases resulted from the increase in revenues as discussed above and an
adjustment made to the anticipated total gross revenue projected for "The
Little Kidnappers" during the third quarter of 1994. Filmed entertainment
costs are amortized over the life of the film in the ratio that current gross
revenues bear to anticipated total gross revenues.
Distribution fees and expenses increased $4,683, from $13,782 for the three
months ended September 30, 1994 to $18,465 for the same period in 1995 and
decreased $2,335, from $53,566 for the nine months ended September 30, 1994 to
$51,231 for the same period in 1995. These changes were primarily the result
of changes in the mix of domestic and international sales of the Partnership's
programming. These distribution fees and expenses relate to the compensation
due and costs incurred by distributors in selling the Partnership's programming
in the domestic and international markets. The timing and amount of
distribution fees and expenses vary depending upon the individual market in
which programming is distributed.
Operating, general and administrative expenses decreased $734 and $4,962,
respectively, for the three and nine month periods ended September 30, 1995 as
compared to the same periods in 1994. These decreases were primarily the
result of a decrease in the amount of royalties paid to the writer of "The
Little Kidnappers," which totaled $250 and $5,582, respectively, for the three
and nine months ended September 30, 1995 as compared to $2,252 and $15,474,
respectively, for the similar periods in 1994. Direct expenses charged to the
Partnership by the General Partner also increased $1,163 and $4,336,
respectively, for the three and nine month periods ended September 30, 1995 as
compared to the same periods in 1994.
Interest income increased $5,251, from $16,123 for the nine months ended
September 30, 1994 to $21,374 for the same period in 1995. This increase in
interest income was primarily the result of higher average levels of invested
cash balances existing during 1995 as compared to 1994.
Loss from write-down of film production increased $244,164 from $-0- for the
three and nine month periods ended September 30, 1994 to $244,164 for the
similar periods in 1995. This increase was the result of the write-down of the
Partnership's net investment in "Curacao" to the film's net realizable value of
$832,500 as of September 30, 1995 based on the film's estimated future revenue
sources.
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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 PROGRAMMING PARTNERS 1-A, LTD.
BY: JONES ENTERTAINMENT GROUP, LTD.
General Partner
By: /s/ Theodore A. Henderson
----------------------------------
Theodore A. Henderson
Principal Financial and Accounting
Officer
Dated: November 14, 1995
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EXHIBIT INDEX
EXHIBIT
NUMBER EXHIBIT DESCRIPTION PAGE
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27 Financial Data Schedule