EXHIBIT 99.19
DEBTOR: AMERICAN HAWAII PROPERTIES CORPORATION CASE NUMBER: 01-10976 (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/ NICHOLAS J. DAVISON
- ----------------------------------
Nicholas J. Davison
Senior Vice President, Finance
DEBTOR: AMERICAN HAWAII PROPERTIES CORPORATION CASE NUMBER: 01-10976 (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, Investment & Petty Cash Accounts Attachment 1
American Hawaii Properties Corporation
Summary Case No: 01-10976(EIK) UNAUDITED
American Hawaii For Month Of January, 2002
Properties Corp
Balances
----------------------------------- Receipts & Bank
Opening Closing Disbursements Statements Account
Account As Of 1/01/02 As Of 1/31/02 Included Included Reconciled
------- ------------- ------------- ------------- ---------- ----------
AHC - Honolulu Payroll 58,170.75 57,396.81 Yes No - Not Yes
Bank One Concentration
Account # - 552-0110673379 Account
American Hawaii Pro DBA 0.00 0.00 No - No - Not No -
Bank of Hawaii No Activity Concentration No Activity
Account # - 0001-037773 Account
Honolulu Office 2,607.07 0.00 Yes Not A Bank Yes
Petty Cash Account
Receipts & Disbursements Attachment 2-1
American Hawaii Properties Corporation
R&D-Bank One Case No: 01-10976 (EIK) UNAUDITED
AHC Honolulu Payroll Bank One
Account # - 552-0110673379
1 January 02 - 31 January 02
Opening Balance - 1 Jan 02
58,170.75
Receipts
---------
0.00 Total Receipts
Disbursements
(773.94) Payroll
---------
(773.94) Total Disbursements
Closing Balance - 31 Dec 01
57,396.81
Receipts & Disbursements Attachment 2-2
American Hawaii Properties Corporation
R&D-Honolulu Office Case No: 01-10976 (EIK) UNAUDITED
Petty Cash Honolulu Office
Petty Cash
Account # - NA
1 January 02 - 31 January 02
Opening Balance - 1 Dec 01
2,607.07
Receipts
---------
0.00 Total Receipts
Disbursements
(2,607.07) Misc Shut-Down Expenses
---------
(2,607.07) Total Disbursements
Closing Balance - 31 Dec 01
0.00
Concentration & Investment Account Statements Attachment 3
American Hawaii Properties Corp
Summary Case No: 01-10976 (EIK)
American Hawaii For Month Of January, 2002
Properties Corp
Attach 2&3
No Statements Due To No Concentration Or Investment Accounts
AMCV US SET BOOKS
INCOME STATEMENT - ATTACHMENT 4
Current Period: JAN-02
currency USD
Company=52 (AHC - HONOLULU OFFICE)
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
General and Admin Expenses 4,178.34
Sales & Marketing 0.00
Pre-Opening Costs 0.00
----------
Total SG&A Expenses 4,178.34
----------
EBITDA (4,178.34)
Depreciation 0.00
----------
Operating Income (4,178.34)
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) (4,178.34)
----------
Income Tax Expense 0.00
----------
Net Income/ (Loss) (4,178.34)
----------
AMCV US SET BOOKS
BALANCE SHEET - ATTACHMENT 5
Current Period: JAN-02
currency USD
Company=52 (AHC - HONOLULU OFFICE)
YTD-Actual YTD-Actual
JAN-02 OCT-01
-------------- --------------
ASSETS
Cash and Equivalent 47,396.81 175,430.72
Restricted Cash 0.00 0.00
Marketable Securities 0.00 0.00
Accounts Receivable 0.00 1,334.40
Inventories 598,546.64 1,214,962.00
Prepaid Expenses (528.80) 7,240.63
Other Current Assets 0.00 0.00
-------------- --------------
Total Current Assets 655,414.65 1,398,967.75
Fixed Assets 1,553,888.60 1,553,888.60
Accumulated Depreciation (591,442.88) (591,442.88)
-------------- --------------
Net Fixed Assets 962,445.72 962,445.72
Net Goodwill 0.00 0.00
Intercompany Due To/From (3,158,045.98) (3,743,572.98)
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 (3,158,045.98) (3,743,572.98)
-------------- --------------
Total Assets (1,540,185.61) (1,382,159.51)
-------------- --------------
AMCV US SET BOOKS
BALANCE SHEET - ATTACHMENT 5
Current Period: JAN-02
currency USD
Company=52 (AHC - HONOLULU OFFICE)
YTD-Actual YTD-Actual
JAN-02 OCT-01
------------- -------------
LIABILITIE
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 0.00 0.00
------------- -------------
Total Liabilities 0.00 0.00
OTHER
Liabilities Subject to Compromise 0.00 0.00
------------- -------------
Total Other 0.00 0.00
OWNER'S EQUITY
Common Stock 1,000.00 1,000.00
Add'1 Paid In Capital 0.00 0.00
Current Net Income (Loss) (4,178.34) (1,383,800.96)
Retained Earnings (1,537,007.27) 641.45
------------- -------------
Total Owner's Equity (1,540,185.61) (1,382,159.51)
------------- -------------
Total Liabilities & Equity (1,540,185.61) (1,382,159.51)
------------- -------------
American Hawaii 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 (2,484,240.71) 74.97 -- (2,484,165.74)
AMCV Cruise Operations, Inc. 01-10967 (5,188,103.46) -- 2,117.21 (5,190,220.67)
The Delta Queen Steamboat Co. 01-10970 (49,579.61) 14,482.22 8,452.90 (43,550.29)
Great AQ Steamboat, L.L.C 01-10960 1,496.24 -- -- 1,496.24
Great River Cruise Line, L.L.C 01-10963 (9,562.38) -- -- (9,562.38)
Cruise America Travel, Incorporated 01-10966 (1,126.92) -- -- (1,126.92)
Cape Cod Light, L.L.C 01-10962 31,777.30 -- -- 31,777.30
Project America, Inc. N/A 1,297,351.35 -- -- 1,297,351.35
Oceanic Ship Co. N/A 3,724,194.25 -- -- 3,724,194.25
Great Hawaiian Cruise Line, Inc. 01-10975 (743.26) -- -- (743.26)
Great Hawaiian Properties Corporation 01-10971 62,430.01 8,452.90 8,452.90 62,430.01
Great Independence Ship Co. 01-10969 (543,024.70) 773.94 -- (542,250.76)
Cat II, Inc. 01-10968 (3,675.11) -- -- (3,675.11)
---------------------------------------------------------------------
(3,162,807.00) 23,784.03 19,023.01 (3.158.045.98)
=====================================================================
AMERICAN HAWAII PROPERTIES CORPORATION
ACCOUNTS RECEIVABLE AGING
AS OF JANUARY 31, 2002
ATTACHMENT 7
NOT APPLICABLE
AMERICAN HAWAII PROPERTIES CORPORATION
ACCOUNTS PAYABLE DETAIL
AS OF JANUARY 31, 2002
ATTACHMENT 8
NOT APPLICABLE
DEBTOR: AMERICAN HAWAII PROPERTIES CORPORATION CASE NUMBER: 01-10976 (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 warehouse inventories. Physical counts were performed
in November, 2001, and quantities were valued at average cost.
Inventories are currently held for auction.
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.