Exhibit 99.13
DEBTOR: THE DELTA QUEEN STEAMBOAT COMPANY CASE NUMBER: 01-10970 (EIK)
MONTHLY OPERATING REPORT
AS OF MARCH 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 March 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: THE DELTA QUEEN STEAMBOAT COMPANY CASE NUMBER: 01-10970 (EIK)
MONTHLY OPERATING REPORT
AS OF MARCH 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 March Monthly Operating Report
16-Apr-02 Summary Of Bank And Investment Accounts Attachment 1
4:59 PM The Delta Queen Steamboat Co.
Summary Case No: 01-10970 (EIK) UNAUDITED
The Delta Queen For Month Of March, 2002
Steamboat Co.
Balances
------------------------------ Receipts & Bank
Opening Closing Disbursements Statements Account
Account As Of 3/01/02 As Of 3/31/02 Included Included Reconciled
- ------- ------------- ------------- -------- -------- ----------
Delta Queen Controlled Disb 29,759.71 11,687.85 Yes Yes Yes
Hibernia
Account # - 542027373
Delta Queen Master Cash 247,191.78 345,733.39 Yes Yes Yes
Hibernia
Account # - 812-395-335
Delta Queen Payroll 106,334.06 35,947.79 Yes No - Not Yes
Hibernia Concentration
Account # - 812-395-289 Account
The Delta Queen Steamboat Co. 0.00 0.00 No - No - No -
LaSalle - Wealth Management Account Account Account
Account # - TNE-043290 Closed Closed Closed
The Delta Queen Steamboat Co. 0.00 0.00 No - No - No -
AmSouth Account Account Account
Account # - 19356307 Closed Closed Closed
Delta Queen 0.00 0.00 No - No - No -
LaSalle Account Account Account
Account # - 5800155771 Closed Closed Closed
DQ Credit Card 0.00 5,541.02 Yes No - Not Yes
Bank One Concentration
Account # - 552-0110062868 Account
DQ Master Cash 0.00 0.00 No - No - No -
Bank One Account Account Account
Account # - 552-0110256700 Closed Closed Closed
The Delta Queen Steamboat Co 53,772.73 162,406.21 Yes No - Not Yes
Receipts Concentration
Hibernia Account
Account # - 882-390-047
The Delta Queen Steamboat Co 0.00 0.00 No - No - No -
Receipts Account Account Account
LaSalle Closed Closed Closed
Account # - 5800155839
The Delta Queen Steamboat Co 250,712.50 499,877.32 Yes No - Not Yes
Escrow Account Concentration
LaSalle Account
Account # - 62-8930-70-3
16-Apr-02 Receipts & Disbursements Attachment 2-1
5:03 PM The Delta Queen Steamboat Co.
R&D - Hibernia Case No: 01-10970 (EIK) UNAUDITED
DQ Controlled Disb Hibernia
Controlled Disbursements
Account # - 542027373
1 March 02 - 31 March 02
Opening Balance - 1 Mar 02
29,759.71
Receipts
612,455.71 From The Delta Queen Steam Boat Co. -
Hibernia - DQSC Master Cash - Account (812-395-335)
----------
612,455.71 Total Receipts
Disbursements
(60,426.40) Benefits - Afloat Employees
(22,584.28) Benefits - Shore Employees
(361.20) Commission - DQ - FY 01
(5,520.43) Crew Medical & Maintenance (P&I)
(4,358.58) Crew Replacement Check - Pre-Petition
(6,786.83) Crew Union Dues/Other Employee Payments
(3,000.00) Passenger Refunds - FY 02
(62,663.53) Professional Fees
(30,128.45) SG&A - Finance
(378.68) SG&A - Hotel Operations
(626.51) SG&A - Human Resources
(28,067.64) SG&A - IT/Communications
(48,275.41) SG&A - Legal/Risk Management
(2,205.33) SG&A - Office - Chicago
(53,471.71) SG&A - Office - New Orleans
(2,503.34) SG&A - Office - Weston
(3,845.56) SG&A - Passenger Services
(186,070.83) SG&A - Sales & Marketing
(2,331.06) Start-Up - MQ
(48,794.00) Taxes
(136.03) Vessel - DQ FY 01 Operations
(57,991.77) Vessel - Tie-Up/Other
----------
(630,527.57) Total Disbursements
Closing Balance - 31 Mar 02
11,687.85
16-Apr-02 Receipts & Disbursements Attachment 2-2
5:06 PM The Delta Queen Steamboat Co.
R&D - Hibernia Case No: 01-10970 (EIK) UNAUDITED
DQ Master Cash Hibernia
DQ Master Cash
Account # - 812-395-335
1 March 02 - 31 March 02
Opening Balance - 1 Mar 02
247,191.78
Receipts
1,900,000.00 From American Classic Voyages Co - Credit Suisse
Asset Management - Account (247003452)
615,000.00 From AMCV Cruise Operations, Inc. - First Union -
AMCV Cruise Ops Master Cash - Account (2090002602362)
305,768.46 Misc Local Deposits - Primarily FY 02 Deposits En Route
To Escrow Account
25.00 From Hibernia - Reimbursement From Bank Error
------------
2,820,793.46 Total Receipts
Disbursements
(612,455.71) To The Delta Queen Steam Boat Co. -
Hibernia - DQSC Contr. Disb. - Account (542027373)
(19,766.21) Airline Reporting Clearinghouse
(149,865.28) 401K Payroll Payments
(75,000.00) To The Delta Queen Steam Boat Co. - Hibernia -
DQSC Receipts - Account (882-390-047)
(90,000.00) To Great AQ Steamboat, LLC - Hibernia -
AQ Steamer - Account (812-395-343)
(220,000.00) To The Delta Queen Steam Boat Co. - Hibernia -
DQ Payroll - Account (812-395-289)
(170,000.00) To Great River Cruise Line, LLC - Hibernia -
DQ Steamer - Account (812-395-270)
(8,472.88) Sysco - Food
(3,825.00) Consulting
(61,207.49) Insurance
(2,984.50) Moving Expense - Miami To New Orleans
(450,000.00) To Cape Cod Light, LLC - Hibernia Investments , LLC
Cape Cod Light Security - Account (4R6-771783)
(248,954.53) To The Delta Queen Steam Boat Co. - LaSalle Bank -
DQSC Escrow - Account (62-8930-70-3)
(607,009.14) Professional Fees
(700.00) Returned Check
(2,011.11) UPS
----------
(2,722,251.85) Total Disbursements
Closing Balance - 31 Mar 02
345,733.39
16-Apr-02 Receipts & Disbursements Attachment 2-3
5:07 PM The Delta Queen Steamboat Co.
R&D - Hibernia Case No: 01-10970 (EIK) UNAUDITED
DQ Payroll Hibernia
DQ Payroll
Account # - 812-395-289
1 March 02 - 31 March 02
Opening Balance - 1 Mar 02
106,334.06
Receipts
220,000.00 From The Delta Queen Steam Boat Co. -
Hibernia - DQSC Master Cash - Account (812-395-335)
----------
220,000.00 Total Receipts
Disbursements
(256,066.29) Payroll - Wires
(34,319.98) Payroll - Checks
----------
(290,386.27) Total Disbursements
Closing Balance - 31 Mar 02
35,947.79
16-Apr-02 Receipts & Disbursements Attachment 2-4
5:18 PM The Delta Queen Steamboat Co.
R&D - BankOne Case No: 01-10970 (EIK) UNAUDITED
DQ Credit Cards Bank One
Delta Queen Credit Cards
Account # - 552-0110062868
1 March 02 - 31 March 02
Opening Balance - 1 Mar 02
0.00
Receipts 5,541.02 Credit Card Charge Back Reversal -
Paymentech
----------
5,541.02 Total Receipts
Disbursements
To Great Hawaiian Properties Corporation -
Bank One - AHC Mainland Payroll
Account (552-0110673387)
----------
0.00
Closing Balance - 31 Mar 02
5,541.02
16-Apr-02 Receipts & Disbursements Attachment 2-5
5:19 PM The Delta Queen Steamboat Co.
R&D - Hibernia Case No: 01-10970 (EIK) UNAUDITED
DQSC Receipts Hibernia
DQSC Receipts
Account # - 882-390-047
1 March 02 - 31 March 02
Opening Balance - 1 Mar 02
53,772.73
Receipts
75,000.00 From The Delta Queen Steamboat Company - Hibernia -
DQ Master Cash Account (812-395-335)
92,028.75 From Credit Card Processor
----------
167,028.75 Total Receipts
Disbursements
(57,088.21) Credit Card Processor Fees
(1,307.06) Credit Card Chargebacks
----------
(58,395.27) Total Disbursements
Closing Balance - 31 Mar 02
162,406.21
16-Apr-02 Receipts & Disbursements Attachment 2-6
5:23 PM The Delta Queen Steamboat Co.
R&D - LaSalle Case No: 01-10970 (EIK) UNAUDITED
DQSC Escrow LaSalle
DQSC Escrow
Account # - 62-8930-70-3
1 March 02 - 31 March 02
Opening Balance - 1 Mar 02
250,712.50
Receipts
248,954.53 From The Delta Queen Steamboat Company - Hibernia -
DQ Master Cash Account (812-395-335)
210.29 Interest Income
----------
249,164.82 Total Receipts
Disbursements
----------
0.00 Total Disbursements
Closing Balance - 31 Mar 02
499,877.32
AMCV US SET OF BOOKS Date: 19-APR-02 08:27:41
INCOME STATEMENT - ATTACHMENT 4 Page: 1
Current Period: MAR-02
currency USD
Company=20 (DELTA QUEEN STEAM CO)
PTD-Actual
31-Mar-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 1,306.00
Sales & Marketing 0.00
Start-Up Costs 0.00
-----------
Total SG&A Expenses 1,306.00
-----------
EBITDA (1,306.00)
Depreciation 41,145.00
-----------
Operating Income (42,451.00)
Other Expense/(Income)
Interest Income 0.00
Equity in Earnings for Sub (709,494.51)
Reorganization expenses 13,703.55
Other expense (5,179.02)
-----------
Total Other Expense/(Income) 718,019.04
-----------
Net Pretax Income/(Loss) (760,470.04)
Income Tax Expense 0.00
-----------
Net Income/(Loss) (760,470.04)
===========
AMCV US SET OF BOOKS Date: 18-APR-02 17:04:25
BALANCE SHEET - ATTACHMENT 5 Page: 1
Current Period: MAR-2
currency USD
Company=20 (DELTA QUEEN STEAM CO)
YTD-Actual YTD-Actual
31-Mar-02 22-Oct-02
------------- -------------
ASSETS
Cash and Equivalent 506,872.93 2,494,983.63
Restricted Cash 0.00 0.00
Accounts Receivable 2,225,828.23 0.00
Inventories 638,824.91 840,779.06
Prepaid Expenses 0.00 13,147.33
Other Current Assets 0.00 0.00
------------- -------------
Total Current Assets 3,371,526.07 3,348,910.02
Fixed Assets 7,971,277.75 8,202,345.75
Accumulated Depreciation (5,406,616.56) (5,195,800.16)
------------- -------------
Net Fixed Assets 2,564,661.19 3,006,545.59
Net Goodwill 0.00 0.00
Intercompany Due To/From 37,643,033.69 37,437,552.28
Net Deferred Financing Fees 0.00 5,434.15
Net Investment in Subsidiaries 31,053,137.36 33,999,708.26
------------- -------------
Total Other Assets 68,696,171.05 71,442,694.69
------------- -------------
Total Assets 74,632,358.31 77,798,150.30
============= =============
AMCV US SET OF BOOKS Date: 18-APR-02 17:04:25
BALANCE SHEET - ATTACHMENT 5 Page: 2
Current Period: MAR-2
currency USD
Company=20 (DELTA QUEEN STEAM CO)
YTD-Actual YTD-Actual
31-Mar-02 22-Oct-02
------------- ------------
LIABILITIES
Accounts Payable 0.00 0.00
Accrued Liabilities 6,660.89 0.00
Deposits 0.00 0.00
------------- ------------
Total Current Liabilities 6,660.89 0.00
Long Term Debt 0.00 0.00
Other Long Term Liabilities 9,993,779.93 9,993,779.93
------------- ------------
Total Liabilities 10,000,440.82 9,993,779.93
OTHER
Liabilities Subject to Compromise 577,835.68 577,835.68
------------- ------------
Total Other 577,835.68 577,835.68
OWNER'S EQUITY
Common Stock 1,000.00 1,000.00
Add'l Paid In Capital 33,564,332.71 33,564,332.71
Current Net Income (Loss) (2,301,446.38) (2,866,520.92)
Retained Earnings 32,790,195.48 36,527,722.90
------------- ------------
Total Owner's Equity 64,054,081.81 67,226,534.69
------------- ------------
Total Liabilities & Equity 74,632,358.31 77,798,150.30
============= ============
The Delta Queen Steamboat Co. ATTACHMENT 6 01-10970(JCA)
Summary List of Due To/Due From Accounts
For the Month Ended March 31, 2002
BEGINNING ENDING
AFFILIATE NAME CASE ID # BALANCE DEBITS CREDITS BALANCE
--------- -------------- ------------ ------------ --------------
American Classic Voyages Co. 01-10954 (6,325,037.83) 5,400.41 7,575.57 (6,327,212.99)
AMCV Cruise Operations, Inc. 01-10967 102,975,538.81 1,480,958.72 2,250,423.38 102,206,074.15
Great AQ Steamboat, L.L.C 01-10960 (17,101,370.49) 150,351.23 39,922.57 (16,990,941.83)
Great Pacific NW Cruise Line, L.L.C 01-10977 (8,436,809.68) 32,092.21 9,483.86 (8,414,201.33)
Great River Cruise Line, L.L.C 01-10963 (6,833,173.43) 237,313.06 208,919.57 (6,804,779.94)
Great Ocean Cruise Line, L.L.C 01-10959 (14,935,686.13) 170,017.90 1,693,478.13 (16,459,146.36)
Cruise America Travel, Incorporated 01-10966 252,135.90 24,580.96 4,631.02 272,085.84
Delta Queen Coastal Voyages, L.L.C 01-10964 (901,471.80) 450,000.00 15,558.57 (467,030.37)
Cape Cod Light, L.L.C 01-10962 (1,436,292.11) 67,562.32 35,329.58 (1,404,059.37)
Cape May Light, L.L.C 01-10961 (8,466,448.11) 67,562.32 32,232.74 (8,431,118.53)
Project America, Inc. N/A (2,935,356.03) -- -- (2,935,356.03)
Oceanic Ship Co. N/A (136,810.43) -- -- (136,810.43)
Project America Ship I, Inc. N/A 255,723.41 -- -- 255,723.41
Project America Ship II, Inc. N/A (142,646.25) -- -- (142,646.25)
Ocean Development Co. 01-10972 2,214,633.49 -- -- 2,214,633.49
Great Hawaiian Cruise Line, Inc. 01-10975 381.00 -- -- 381.00
Great Hawaiian Properties Corporation 01-10971 1,247,073.77 -- -- 1,247,073.77
American Hawaii Properties Corporation 01-10976 43,550.29 -- -- 43,550.29
Great Independence Ship Co. 01-10969 (83,084.83) -- -- (83,084.83)
CAT II, Inc. 01-10968 (100.00) -- -- (100.00)
-------------- ------------ ------------ --------------
39,254,749.55 2,685,839.13 4,297,554.99 37,643,033.69
============== ============ ============ ==============
The Delta Queen Steamboat Company
01-10970 (EIK)
Accounts Receivable Aging
As of March 31, 2002
Attachment 7
Not Applicable
The Delta Queen Steamboat Company
01-10970 (EIK)
Accounts Payable Detail
As of March 31, 2002
Attachment 8
Not Applicable
DEBTOR: THE DELTA QUEEN STEAMBOAT COMPANY CASE NUMBER: 01-10970 (JCA)
PRELIMINARY MONTHLY OPERATING REPORT
AS OF MARCH 31, 2002
AND
FOR THE MONTH THEN ENDED
ATTACHMENT 9
NOTES TO MARCH 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. Physical inventory counts have been performed internally.
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.
3. An accounts receivable aging is not provided herein as all monies are
held in escrow by the credit card processor until completion of the
voyage for which the monies have been provided.