Exhibit 99.19
DEBTOR: AMERICAN HAWAII PROPERTIES CORPORATION CASE NUMBER: 01-10976 (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: AMERICAN HAWAII PROPERTIES CORPORATION CASE NUMBER: 01-10976 (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, Investment & Petty Cash Accounts Attachment 1
11:02 PM American Hawaii Properties Corporation
Summary Case No: 01-10976 (EIK) UNAUDITED
American Hawaii Properties For Month Of March, 2002
Corp
Balances
------------------------------------ Receipts & Bank
Opening Closing Disbursements Statements Account
Account As Of 3/01/02 As Of 3/31/02 Included Included Reconciled
- ------- ------------- ------------- -------- -------- ----------
AHC -- Honolulu 0.00 0.00 No - No - No -
Payroll Account Account Account
Bank One Closed Closed Closed
Account#
-- 552-0110673379
American Hawaii 0.00 0.00 No - No - No -
Pro DBA Account Account Account
Bank of Hawaii Closed Closed Closed
Account#
-- 0001-037773
Honolulu Office 0.00 0.00 No - Not A Bank No -
Petty Cash No Activity Account No Activity
16-Apr-02 Receipts & Disbursements Attachment 2
11:57 PM American Hawaii Properties Corp
Summary Case No: 01-10976 (EIK)
American Hawaii For Month Of March, 2002
Properties Corp
Attach 2
No Receipts Or Disbursements Due To All Accounts Closed
16-Apr-02 Concentration & Investment Account Statements Attachment 3
11:04 PM American Hawaii Properties Corp
Summary Case No: 01-10976 (EIK)
American Hawaii For Month Of March, 2002
Properties Corp
Attach 3
No Statements Due To No Concentration Or Investment Accounts
AMCV US SET OF BOOKS Date: 19-APR-02 08:27:48
INCOME STATEMENT - ATTACHMENT 4 Page: 1
Current Period: MAR-02
currency USD
Company=52 (AHC - HONOLULU OFFICE)
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 (22,785.95)
Sales & Marketing 0.00
Start-Up Costs 0.00
-----------------
Total SG&A Expenses (22,785.95)
-----------------
EBITDA 22,785.95
Depreciation 0.00
-----------------
Operating Income 22,785.95
Other Expense/(Income)
Interest Income 0.00
Equity in Earnings for Sub 0.00
Reorganization expenses 1,463,337.47
-----------------
Total Other Expense/(Income) 1,463,337.47
-----------------
Net Pretax Income/(Loss) (1,440,551.52)
Income Tax Expense 0.00
-----------------
Net Income/(Loss) (1,440,551.52)
=================
AMCV US SET OF BOOKS Date: 18-APR-02 17:04:40
BALANCE SHEET - ATTACHMENT 5 Page: 1
Current Period: MAR-2
currency USD
Company=52 (AHC - HONOLULU OFFICE)
YTD-Actual YTD-Actual
31-Mar-02 22-Oct-01
------------ ------------
ASSETS
Cash and Equivalent 0.00 175,430.72
Restricted Cash 0.00 0.00
Accounts Receivable 0.00 1,334.40
Inventories 0.00 1,214,962.00
Prepaid Expenses 0.00 7,240.63
Other Current Assets 0.00 0.00
------------ ------------
Total Current Assets 0.00 1,398,967.75
Fixed Assets 0.00 1,553,888.60
Accumulated Depreciation 0.00 (591,442.88)
------------ ------------
Net Fixed Assets 0.00 962,445.72
Net Goodwill 0.00 0.00
Intercompany Due To/From (2,980,226.70) (3,743,572.98)
Net Deferred Financing Fees 0.00 0.00
Net Investment in Subsidiaries 0.00 0.00
------------ ------------
Total Other Assets (2,980,226.70) (3,743,572.98)
------------ ------------
Total Assets (2,980,226.70) (1,382,159.51)
============ =============
AMCV US SET OF BOOKS Date: 18-APR-02 17:04:40
BALANCE SHEET - ATTACHMENT 5 Page: 2
Current Period: MAR-2
currency USD
Company=52 (AHC - HONOLULU OFFICE)
YTD-Actual YTD-Actual
31-Mar-02 22-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 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'l Paid In Capital 0.00 0.00
Current Net Income (Loss) (1,444,219.43) (1,383,800.96)
Retained Earnings (1,537,007.27) 641.45
------------ ------------
Total Owner's Equity (2,980,226.70) (1,382,159.51)
------------ ------------
Total Liabilities & Equity (2,980,226.70) (1,382,159.51)
============ ============
American Hawaii Properties Corporation 01-10976 (JCA)
ATTACHMENT 6
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 (2,484,165.74) -- -- (2,484,165.74)
AMCV Cruise Operations, Inc. 01-10967 (5,190,295.02) -- 45.00 (5,190,340.02)
The Delta Queen Steamboat Co. 01-10970 (43,550.29) -- -- (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 56,709.53 154,744.70 34,258.86 177,195.37
Great Hawaiian Properties Corporation 01-10971 62,430.01 -- -- 62,430.01
Great Independence Ship Co. 01-10969 (542,250.76) -- -- (542,250.76)
CAT II, Inc. 01-10968 (3,675.11) -- -- (3,675.11)
---------------------------------------------------------------
(3,100,667.54) 154,744.70 34,303.86 (2,980,226.70)
===============================================================
American Hawaii Properties Corporation
01-10976 (EIK)
Accounts Receivable Aging
As of March 31, 2002
Attachment 7
Not Applicable
American Hawaii Properties Corporation
01-10976 (EIK)
Accounts Payable Detail
As of March 31, 2002
Attachment 8
Not Applicable
DEBTOR: AMERICAN HAWAII PROPERTIES CORPORATION CASE NUMBER: 01-10976 (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. Proceeds of the auctions have been reconciled and the resulting loss on
disposition has been recorded.