EXHIBIT 99.14
DEBTOR: GREAT HAWAIIAN PROPERTIES CORPORATION CASE NUMBER: 01-10971 (EIK)
MONTHLY OPERATING REPORT
AS OF JANUARY 31, 2002
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/ N. J. Davison
- --------------------------------------
Nicholas J. Davison
Senior Vice President, Finance
DEBTOR: GREAT HAWAIIAN PROPERTIES CORPORATION CASE NUMBER: 01-10971 (EIK)
MONTHLY OPERATING REPORT
AS OF JANUARY 31, 2002
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 2002 Monthly Operating Report
Summary Of Bank And Investment Accounts Attachment 1
Great Hawaiian Properties Corporation
SUMMARY Case No: 01-10971 (EIK) UNAUDITED
GREAT HAWAIIAN PROPERTIES CORP For Month Of January, 2002
Balances
------------------------------ Receipts & Bank
Opening Closing Disbursements Statements Account
Account As Of 1/01/02 As Of 1/31/02 Included Included Reconciled
- ------- ------------- ------------- ------------- ---------- ----------
AHC - Honolulu Disbursements 0.00 0.00 No - No - No -
Bank One No Activity No Activity No Activity
Account # - 552-0110649303
AHC - Mainland Credit Cards 0.00 0.00 Yes No - Not Yes
Bank One Concentration
Account # - 552-0110521579 Account
AHC - Mainland Disbursements 0.00 0.00 No - No - No
Bank One No Activity No Activity No Activity
Account # - 552-0110673395
AHC - Mainland Payroll 41,173.74 46,796.72 Yes No - Not Yes
Bank One Concentration
Account # - 552-0110673387 Account
AHC - Master Cash 0.00 0.00 No- No - No
Bank One No Activity No Activity No Activity
Account # - 552-0110673360
AHC - Honolulu Credit Cards 0.00 (84.00) Yes No - Not Yes
Bank One Concentration
Account # - 552-0110572580 Account
Great Hawaiian Prop Corp 0.00 0.00 No- No- No
Goldman Sachs & Co. No Activity No Activity No Activity
Account # - 020-33478-5
Receipts & Disbursements Attachment 2-1
Great Hawaiian Properties Corporatior
R&D - Bank One Case No: 01-10971 (EIK) UNAUDITED
AHC Mainland Credit Cards Bank One
AHC Mainland Credit Cards
Account # - 552-0110521579 1
January 02 - 31 January 02
Opening Balance - 1 Jan 02
0.00
Receipts
3,151.90 Receipts From Credit Cards
----------
3,151.90 Total Receipts
Disbursements
(252.00) Bank Fees
(2,899.90) To Great Hawaiian Properties Corporation - Bank One -
AHC Mainland Payroll - Account (552-0110673387)
----------
(3,151.90) Total Disbursements
Closing Balance - 31 Jan 02
0.00
Receipts & Disbursements Attachment 2-2
Great Hawaiian Properties Corporation
R&D - Bank One Case No: 01-10971 (EIK)
AHC Mainland Payroll Bank One UNAUDITED
AHC Mainland Payroll
Account # - 552-0110673387
1 January 02 - 31 January 0
Opening Balance - 1 Jan 02
41,173.74
Receipts
2,173.58 From Oceanic Ship Co - Bank One -
Oceanic Credit Card -Account (1583503949)
Account (552-0110673360)
2,899.90 From Great Hawaiian Properties Corporation - Bank One -
AHC Mainland Credit Card - Account (552-0110521579)
773.50 From The Delta Queen Steamboat Co. -
Bank One - DQ Credit Card
Account (552-0110062868)
----------
5,846.98 Total Receipts
Disbursements
(84.00) To Great Hawaiian Properties Corporation - Bank One -
AHC Honolulu Credit Card - Account (552-0110572580)
(140.00) To Oceanic Ship Co - Bank One -
Oceanic Credit Card -Account (1583503949)
----------
(224.00) Total Disbursements
Closing Balance - 31 Jan 02
46,796.72
Receipts & Disbursements Attachment 2-3
Great Hawaiian Properties Corporation
R&D- Bank One Case No: 01-10971 (EIK) UNAUDITED
AHC Honolulu Credit Cards Bank One
AHC Honolulu Credit Cards
Account # - 552-0110572580 1
January 02 - 31 January02
Opening Balance - 1 Jan 02
0.00
Receipts
84.00 From Great Hawaiian Properties Corporation - Bank One -
AHC Mainland Payroll - Account (552-0110673387)
----------
84.00 Total Receipts
Disbursements
(168.00) Bank Fees
----------
(168.00) Total Disbursements
Closing Balance - 31 Jan 02
(84.00)
Concentration & Investment Account Statements Attachment 3
Great Hawaiian Properties Corporation
Summary Case No: 01-10971 (EIK)
Great Hawaiian Properties Corp For Month Of January. 2002
Attach 2&3
No Statements Due To No Concentration Or Investment Accounts
AMCV US SL2 OF BOOKS DATE: 22-FLE-02 09:15:49
INCOME STATEMENT - ATTACHMENT 4 PAGE: 1
CURRENT PERIOD: JAN-02
CURRENCY USD
COMPANY=51(AHC - OPERATIONS)
PTD-ACTUAL
JAN-02
----------
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
SALES & MARKETING 0.00
PRE-OPENING COSTS 0.00
-----
TOTAL SG&A EXPENSES 0.00
-----
EBITDA 0.00
DEPRECIATION 0.00
OPERATING INCOME 0.00
OTHER EXPENSE/ (INCOME)
INTEREST INCOME 0.00
INTEREST EXPENSE 0.00
EQUITY IN EARNINGS FOR SUB 0.00
REORGANIZATION EXPENSES 0.00
-----
TOTAL OTHER EXPENSE/(INCOME) 0.00
-----
NET PRETAX INCOME/(LOSS) 0.00
-----
INCOME TAX EXPENSE 0.00
-----
NET INCOME/ (LOSS) 0.00
-----
AMCV US SET OF BOOKS
BALANCE SHEET - ATTACHMENT 5
Current Period: JAN-02
currency USD
Company=51 (AHC - OPERATIONS)
YTD-Actual YTD-Actual
JAN-02 CT-01
-------------- ---------------
ASSETS
Cash and Equivalent 46,796.72 665,214.37
Restricted Cash 0.00 0.00
Marketable Securities 0.00 0.00
Accounts Receivable 0.00 0.00
Inventories Note 1 34,955.08 36,560.78
Prepaid Expenses 0.00 1,609.00
Other Current Assets 0.00 0.00
--------------- ---------------
Total Current Assets 81,751.80 703,384.15
Fixed Assets 1,992,727.87 1,992,727.87
Accumulated Depreciation (1,687,090.91) (1,687,090.91)
--------------- ---------------
Net Fixed Assets 305,636.96 305,636.96
Net Goodwill 0.00 0.00
Intercompany Due To/From 20,941,524.74 20,319,892.39
Net Deferred Financing Fees 0.00 0.00
Net Investment in Subsidiaries 0.00 0.00
Other Non Current Assets 0.00 0.00
--------------- ---------------
Total Other Assets 20,941,524.74 20,319,892.39
--------------- ---------------
Total Assets 21,328,913.50 21,328,913.50
--------------- ---------------
AMCV US SET OF BOOKS Date: 22-FEu-02 09:28:38
BALANCE SHEET - ATTACHMENT 5 Page: 2
Current Period: JAN-02
currency USD
Company=51 (AHC - OPERATIONS)
YTD-Actual YTD-Actual
JAN-02 OCT-01
-------------- --------------
LIABILITIES
Accounts Payable 0.00 0.00
Accrued Liabilities 0.00 0.00
Deposits 0.00 0.00
Total Current Liabilities 0.00 0.00
Long Term Debt 0.00 0.00
Other Long Term Liabilities (15,184,601.60) (15,184,601.60)
-------------- --------------
Total Liabilities 15,184,601.60) (15,184,601.60)
OTHER
Liabilities Subject to Compromise 0.00 0.00
-------------- --------------
Total Other 0.00 0.00
OWNER'S EQUITY
Common Stock 9,440.25 9,440.25
Add'1 Paid In Capital 83,336,732.73 83,336,732.73
Current Net Income (Loss) 0.00 (516,397.64)
Retained Earnings (46,832,657.88) (46,316,260.24)
-------------- --------------
Total Owner's Equity 36,513,515 36,513,515.10
-------------- --------------
Total Liabilities & Equity 21,328,913.50 21,328,913.50
-------------- --------------
Great Hawaiian Properties Corporation
ATTACHMENT 6
Summary List of Due To/Due From Accounts
For the Period Ending January 31, 2002
BEGINNING ENDING
AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE
American Classic Voyages Co. 01-10954 50,730,599.25 380,442.02 70.68
51,110,970.59
AMCV Cruise Operations, Inc. 01-10967 6,121,103.54 -- 4,228.48 6,116,875.06
The Delta Queen Steamboat Co. 01-10970 (856,702.41) 1,400.00 391,771.36 (1,247,073.77)
Great AQ Steamboat, L.L.C. 01-10960 22,591.38 -- -- 22,591.38
Great Pacific NW Cruise Line, L.L.C. 01-10977 66,513.26 -- 66,513.26
Great River Cruise Line, L.L.C. 01-10963 41,555.00 -- 41,555.00
Great Ocean Cruise Line, L.L.C. 01-10959 34,964.32 -- 34,964.32
Cape May Light, L.L.C. 01-10961 (4,188.00) -- -- (4,188.00)
Project America, Inc. N/A (3006,981.48) -- 621.00 (3.007,602.48)
Oceanic Ship Co. N/A (345,917) (345,917.07)
Ocean Development Co. 011 0972 780,707.24 -- -- 780,707.24
Great Hawaiian Cruise Line, Inc. 01-10975 (3,667,617.75) -- (3,667,617.75)
American Hawaiian Properties Corporation 01-10976 (62,430.01) 8,452.90 8,452.90 (62,430.01)
Great Independence Ship Co. 01-10969 (28,898,393.97) -- -- (28,898,393.97)
Cat 11, Inc. 01-10968 570.94 -- -- 570.94
-------------------------------------------------------------------------
20,956,374.24 390,294.92 405,144 42 20,941,524 74
=========================================================================
Great Hawaiian Properties Corporation
Accounts Receivable Aging
As of January 31, 2002
Attachment 7
Not Applicable
Great Hawaiian Properties Corporation
Accounts Payable Detail
As of January 31, 2002
Attachment 8
Not Applicable
DEBTOR: GREAT HAWAIIAN PROPERTIES CORPORATION CASE NUMBER: 01-10971 (EIK)
PRELIMINARY MONTHLY OPERATING REPORT
AS OF JANUARY 31, 2002
AND
FOR THE MONTH THEN ENDED
ATTACHMENT 9
NOTES TO JANUARY MONTHLY OPERATING REPORT
The information contained herein is unaudited.
All assets presented herein continue to be held at historical book values, net
of accumulated depreciation or amortization. The Company has not attempted to
adjust its books to reflect fair market values of its assets, nor has it
attempted to adjust asset book values to reflect any potential impairments.
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. Amount represents obsolete in inventory that is held for auction.
2. Other long-term liabilities consists of deferred tax assets and
liabilities, net. Deferred tax assets and liabilities have been
recognized for the expected future tax consequences of temporary
differences between carrying amounts and the tax bases of assets and
liabilities. The Debtor has not recorded adjustments to these amounts
pending the outcome of Chapter 11 proceedings.