EXHIBIT 99.10
DEBTOR: AMCV CRUISE OPERATIONS, INC. CASE NUMBER: 01-10967 (JCA)
MONTHLY OPERATING REPORT
AS OF JUNE 30, 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 June Monthly
Operating Report (Attachments 1 through 9) and, to the best of my knowledge,
these documents are true, correct, and complete.
/s/ STEVE MOELLER
- ----------------------------
Steve Moeller
Director, Accounting
DEBTOR: AMCV CRUISE OPERATIONS, INC. CASE NUMBER: 01-10967 (JCA)
MONTHLY OPERATING REPORT
AS OF JUNE 30, 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 June Monthly Operating Report
20-Jul-02 Summary Of Bank,Investment Attachment 1
3:35 PM & Petty Cash Accounts
Summary AMCV Cruise Operations, Inc. UNAUDITED
AMCV Cruise Case No: 01-10967 (JCA)
Operations, Inc. For Month Of June, 2002
Balances
------------------------------ Receipts & Bank
Opening Closing Disbursements Statements Account
Account As Of 6/01/02 As Of 6/30/02 Included Included Reconciled
- ------- ------------- ------------- ------------- ----------- ----------
AHC - Certificate Of Deposit * 25,000.00 25,000.00 Yes No - Not Yes
Bank One Concentration
Account # - 880058451981 Account
AHC - Certificate Of Deposit * 25,000.00 25,000.00 Yes No - Not Yes
Bank One Concentration
Account # - 880058452369 Account
AMCV Cruise Ops 5,116.69 35,556.07 Yes Yes Yes
Master Cash
First Union National Bank
Account # - 2090002602362
AMCV Escrow - Gohagan 0.00 0.00 Yes No - Not Yes
LaSalle Bank Concentration
Account # - 62-8766-40-4 Account
American Classic Voyages 0.00 0.00 No - No - No -
Fleet Bank Account Account Account
Account # - 941-9148945 closed closed closed
New Orleans / Weston Offices 825.45 718.96 Yes Not A Bank Yes
Petty Cash Account
* Proceeds From Matured Certificates Of Deposit Being Retained By Bank
One While They Pursue Recovery Of Equivalent Amounts Relating To
Letters Of Credits That Were Exercised After The Filing For Bankruptcy
Where These Certificates Of Deposits Were Collateral
20-Jul-02 Receipts & Disbursements Attachment 2-1
3:36 PM AMCV Cruise Operations, Inc.
R&D - Bank One - Case No: 01-10967 (JCA) UNAUDITED
AHC CD (86) Bank One
AHC Certificate Of Deposit
Account # - 880058451981
1 Jun 02 - 30 Jun 02
Opening Balance - 1 Jun 02
25,000.00
Receipts
---------
0.00 Total Receipts
Disbursements
---------
0.00 Total Disbursements
Closing Balance - 30 Jun 02
25,000.00
20-Jul-02 Receipts & Disbursements Attachment 2-2
3:38 PM AMCV Cruise Operations, Inc.
R&D - Bank One - Case No: 01-10967 (JCA) UNAUDITED
AHC CD (87) Bank One
AHC Certificate Of Deposit
Account # - 880058452369
1 Jun 02 - 30 Jun 02
Opening Balance - 1 Jun 02
25,000.00
Receipts
---------
0.00 Total Receipts
Disbursements
---------
0.00 Total Disbursements
Closing Balance - 30 Jun 02
25,000.00
20-Jul-02 Receipts & Disbursements Attachment 2-3
3:39 PM AMCV Cruise Operations, Inc.
R&D - First Union Case No: 01-10967 (JCA) UNAUDITED
AMCV Cruise Ops First Union
Master Cash AMCV Cruise Ops Master Cash
Account # - 2090002602362
1 Jun 02 - 30 Jun 02
Opening Balance - 1 Jun 02
5,116.69
Receipts
30,336.12 Misc Deposits
186.10 From AMCV Cruise Ops - LaSalle Bank -
Gohagan Escrow - Account (62-8766-40-4)
---------
30,522.22 Total Receipts
Disbursements
(82.84) Bank Fees
---------
(82.84) Total Disbursements
Closing Balance - 30 Jun 02
35,556.07
20-Jul-02 Receipts & Disbursements Attachment 2-4
3:40 PM AMCV Cruise Operations, Inc.
R&D - LaSalle Case No: 01-10967 (JCA) UNAUDITED
AMCV Escrow - LaSalle
Gohagan AMCV Escrow - Gohagan
Account # - 62-8766-40-4
1 Jun 02 - 30 Jun 02
Opening Balance - Jun 02
0.00
Receipts
186.10 Interest Earned
-------
186.10 Total Receipts
Disbursements
(186.10) To AMCV Cruise Ops - First Union National Bank -
AMCV Cruise Ops - Account (2090002602362)
-------
(186.10) Total Disbursements
Closing Balance - 30 Jun 02
0.00
20-Jul-02 Receipts & Disbursements Attachment 2-5
3:41 PM AMCV Cruise Operations, Inc.
R&D - NOLA Case No: 01-10967 (JCA) UNAUDITED
Petty Cash New Orleans-Weston Offices
Petty Cash
Account # - NA
1 Jun 02 - 30 Jun 02
Opening Balance - 1 Jun 02
825.45
Receipts
-------
0.00 Total Receipts
Disbursements
(75.00) Cleaning Services
(11.00) Courier
(4.30) Postage
(16.19) Miscellaneous Supplies
-------
(106.49) Total Disbursements
Closing Balance - 30 Jun 02
718.96
AMCV US SET OF BOOKS Date: 26-JUL-02 09:47:38
INCOME STATEMENT - ATTACHMENT 4 Page: 1
Current Period: JUN-02
currency USD
Company=15 (AMCV OPS)
PTD-Actual
30-Jun-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 105,950.54
Sales & Marketing (1,130.50)
Start-Up Costs 0.00
--------------
Total SG&A Expenses 104,820.04
--------------
EBITDA (104,820.04)
Depreciation 0.00
--------------
Operating Income (104,820.04)
Other Expense/(Income)
Interest Income 0.00
Equity in Earnings for Sub (583,112,792.98)
Reorganization expenses 239,835.26
--------------
Total Other Expense/(Income) 583,352,628.24
--------------
Net Pretax Income/(Loss) (583,457,448.28)
Income Tax Expense 0.00
--------------
Net Income/(Loss) (583,457,448.28)
==============
AMCV US SET OF BOOKS Date: 26-JUL-02 09:52:45
BALANCE SHEET - ATTACHMENT 5 Page: 1
Current Period: JUN-02
currency USD
Company=15 (AMCV OPS)
YTD-Actual YTD-Actual
30-Jun-02 22-Oct-02
--------------- --------------
ASSETS
Cash and Equivalent (18,806.10) 1,723,947.86
Restricted Cash 0.00 219,000.00
Marketable Securities 50,000.00 50,000.00
Accounts Receivable 7,561.06 99,684.62
Inventories 0.00 0.00
Prepaid Expenses 259,479.15 522,662.13
Other Current Assets 20,942.96 1,750.00
--------------- --------------
Total Current Assets 319,177.07 2,617,044.61
Fixed Assets 0.00 9,371,627.23
Accumulated Depreciation 0.00 (453,764.30)
--------------- --------------
Net Fixed Assets 0.00 8,917,862.93
Net Goodwill 0.00 0.00
Intercompany Due To/From (3,941,395.68) 2,150,807.43
Net Deferred Financing Fees 0.00 0.00
Net Investment in Subsidiaries (521,680,758.49) 66,329,274.35
--------------- --------------
Total Other Assets (525,622,154.17) 68,480,081.78
--------------- --------------
Total Assets (525,302,977.10) 80,014,989.32
=============== ==============
AMCV US SET OF BOOKS Date: 26-JUL-02 09:52:45
BALANCE SHEET - ATTACHMENT 5 Page: 2
Current Period: JUN-02
currency USD
Company=15 (AMCV OPS)
YTD-Actual YTD-Actual
30-Jun-02 22-Oct-02
--------------- --------------
LIABILITIES
Accounts Payable 160,198.77 5,363.60
Accrued Liabilities 93,930.36 289,488.87
Deposits 0.00 0.00
--------------- --------------
Total Current Liabilities 254,129.13 294,852.47
Long Term Debt 0.00 0.00
Other Long Term Liabilities 0.00 0.00
--------------- --------------
Total Liabilities 254,129.13 294,852.47
OTHER
Liabilities Subject to Compromise 29,493,269.30 32,307,000.02
--------------- --------------
Total Other 29,493,269.30 32,307,000.02
OWNER'S EQUITY
Common Stock 10,440.25 10,440.25
Add'l Paid In Capital 112,772,392.56 112,772,392.56
Current Net Income (Loss) (600,072,074.77) (37,037,717.81)
Retained Earnings (67,761,133.57) (28,331,978.17)
--------------- --------------
Total Owner's Equity (555,050,375.53) 47,413,136.83
--------------- --------------
Total Liabilities & Equity (525,302,977.10) 80,014,989.32
=============== ==============
AMCV Cruise ATTACHMENT 6 01-10967 (JCA)
Operations, Inc. Summary List of Due To/
Due From Accounts
For the Month Ended June 30, 2002
BEGINNING ENDING
AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE
American Classic Voyages Co. 01-10954 (48,693,943.29) 471,672.77 1,954,158.76 (50,176,429.28)
AMCV Holdings, Inc. 01-10973 (638,138.36) 15.00 1,500.00 (639,623.36)
The Delta Queen Steamboat Co. 01-10970 (133,864,653.70) 2,238,127.32 1,449,795.02 (133,076,321.40)
DQSB II, Inc. 01-10974 2,330.40 -- -- 2,330.40
Great AQ Steamboat, L.L.C 01-10960 22,858,441.96 4,265.81 1,650.00 22,861,057.77
Great Pacific NW Cruise Line, L.L.C 01-10977 9,429,154.78 4,175.50 -- 9,433,330.28
Great River Cruise Line, L.L.C 01-10963 9,443,779.62 17,991.39 15,850.55 9,445,920.46
Great Ocean Cruise Line, L.L.C 01-10959 22,033,773.41 31,619.21 1,633.62 22,063,759.00
Cruise America Travel, Incorporated 01-10966 4,057,165.15 -- -- 4,057,165.15
Delta Queen Coastal Voyages, L.L.C 01-10964 (190,721.38) 30.64 30.64 (190,721.38)
Cape Cod Light, L.L.C 01-10962 3,950,183.20 -- -- 3,950,183.20
Cape May Light, L.L.C 01-10961 8,123,934.77 968.82 -- 8,124,903.59
Project America, Inc. N/A (4,501,177.23) -- -- (4,501,177.23)
Oceanic Ship Co. N/A 57,688,243.12 336.00 -- 57,688,579.12
Project America Ship I, Inc. N/A 111,968.41 -- -- 111,968.41
Ocean Development Co. 01-10972 1,559,238.61 -- -- 1,559,238.61
Great Hawaiian Cruise Line, Inc. 01-10975 (22,292.97) -- -- (22,292.97)
Great Hawaiian Properties Corporation 01-10971 (6,116,875.06) -- -- (6,116,875.06)
American Hawaii Properties Corporation 01-10976 5,188,990.02 -- -- 5,188,990.02
Great Independence Ship Co. 01-10969 36,656,636.93 -- -- 36,656,636.93
CAT II, Inc. 01-10968 9,637,982.06 -- -- 9,637,982.06
-----------------------------------------------------------------------
(3,285,979.55) 2,769,202.46 3,424,618.59 (3,941,395.68)
=======================================================================
AMCV CRUISE OPERATIONS, INC. CASE #: 01-10967 (JCA)
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
DETAIL: 0-30 DAYS 31-60 DAYS 61-90 DAYS 91+ DAYS TOTAL
Paymentech Credit Card Processor 0.00 0.00
American Express Credit Card Processor 0.00
Discover Credit Card Processor 0.00
Diners Credit Card Processor 0.00
BankOne 7,561.06 7,561.06
Crew Member 0.00 0.00
--------- ----------- --------- -------- --------
Total 7,561.06 0.00 0.00 0.00 7,561.06
========= =========== ========= ======== ========
ATTACHMENT # 7
ACCOUNTS PAYABLE TRIAL BALANCE
AS OF JUNE 30, 2002
LIABILITY ACCOUNT: 15-000-220102-00000
SUPPLIER NAME INVOICE NUMBER INVOICE DATE REMAINING AMOUNT INVOICE DESCRIPTION
- ------------------------------------------------------------------------------------------------------------------------
AMERICAN MARITIME OFFICERS 0502MPB 31-May-02 $ 10,758.47 MAY'02 MEDICAL PLAN
0502VAC 31-May-02 $ 1,302.20 MAY'02 VACATION PLAN
0502VACALL 31-May-02 $ 9,084.76 MAY'02 PENSION PLAN
Total for Supplier: $ 21,145.43
AMO 401(K) Plan WP052402 24-May-02 $ 1,079.48
AMO INLAND WATER OPT 0502DUES 31-May-02 $ 1,525.50 MAY'02 AMO PLAN DUES &
INITIATIONS WITHHELD
AUTOMATIC DATA PROCESSING 540240 14-Jun-02 $ 118.87
539826 7-Jun-02 $ 2.00
540817 14-Jun-02 $ 62.64
541316 21-Jun-02 $ 2.00
539307 7-Jun-02 $ 2.00
541875 21-Jun-02 $ 3.34
541844 21-Jun-02 $ 2.00
$ 192.85
BENTON COUNTY TRUSTEE 123101 31-Dec-01 $ 1,549.91 PROPERTY ADDRESS BL000400
BILL NOBLES, TRUSTEE 123101B 31-Dec-01 $ 1,704.40 BILL NUMBER 145214
123101A 31-Dec-01 $ 1,963.66 BILL NUMBER 145375
Total for Supplier: $ 3,668.06
BOB PATTERSON, TRUSTEE 123101B 31-Dec-01 $ 7,025.24 FOLIO NUMBER 6BL-0004-0-00000-0
123101A 31-Dec-01 $ 5,059.38 FOLIO NUMBER 1BL-0004-0-00000-0
Total for Supplier: $ 12,084.62
BROWNING-FERRIS INDUSTRIES 0221820-020100-0278 31-Jan-02 $ (1,097.64)
CARL E. LEVI, CITY TREASURER 123101 31-Dec-01 $ 1,400.93 BILL # 76013
CHARLIE CALDWELL, TRUSTEE 123101B 31-Dec-01 $ 2,807.17 ACCOUNT NUMBER 000000516
123101A 31-Dec-01 $ 2,459.26 ACCOUNT NUMBER 000000340
Total for Supplier: $ 5,266.43
CITY OF PORTLAND 123101 31-Dec-01 $ 100.00 AMERICAN CLASSIC VOYAGES, INC.
CITY TAX COLLECTOR 123101 31-Dec-01 $ 51.77 PROPERTY ADDRESS BL000400
COUNTY TRUSTEE 123101 31-Dec-01 $ 1,299.20 PROPERTY ADDRESS BL000400
DECATUR COUNTY TRUSTEE 123101 31-Dec-01 $ 991.66 PROPERTY ADDRESS BL000400
DEPARTMENT OF REVENUE
AND TAXATION 123101A 31-Dec-01 $ 10.00 PROJECT AMERICA, INC.
DICKSON COUNTY TRUSTEE 123101 31-Dec-01 $ 166.48 PROPERTY ADDRESS BL000400
DIRECTV 0032-006733024 26-Dec-01 $ 60.33 # 006733024
0031-006733024 26-Nov-01 $ 60.33 ACCT # 006733024
0030-006733024A 26-Oct-01 $ 60.33 ACCT # 006733024
0024-006733024C 23-Apr-01 $ (659.33) OVERPAID CK # 4002327 ACCT #
Total for Supplier: $ (478.34)
DIVERSEY LEVER, INC 30706 18-Dec-01 $ (8.97) FUEL SURCHARGE CREDIT
DYER COUNTY TRUSTEE 123101 31-Dec-01 $ 2,915.08 PROPERTY ADDRESS BL000400
ENTERGY 0415-051402CR 14-May-02 $(12,699.89)
0415-051402B 14-May-02 $ 12,699.89
Total for Supplier: $ --
EQUISERVE L.P. G0117243 13-Jun-02 $ 1,270.56 May-02
FEDERAL EXPRESS 4-288-16564 26-Jun-02 $ 43.12 CHICAGO # 1767-9328-7
4-280-16151 21-Jun-02 $ 25.91 WESTON # 2383-6244-0
4-241-77105 19-Jun-02 $ 19.10 CHICAGO # 1767-9328-7
4-280-16152 21-Jun-02 $ 7.50 WESTON # 2383-6244-0
$ 95.63
FRED DEVINE DIVING &
SALVAGE CO 20038A 18-Jun-02 $ 2,446.57 CQ ELECTRIC SERVICE 5/20-6/1
GABLES SAN MICHELE 89 21-Jun-02 $ 40.77 # 712 WATER/SEWER/TRASH 5/7-
HARDIN COUNTY TRUSTEE 123101 31-Dec-01 $ 2,254.32 HARDIN COUNTY PROPERTY TAX
HENRY COUNTY TRUSTEE 123101 31-Dec-01 $ 323.79 P ROPERTY ADDRESS BL000400
HOUSTON COUNTY TRUSTEE 123101 31-Dec-01 $ 303.80 HOUSTON COUNTY PROPERTY TAX
HUMPHREYS COUNTY TRUSTEE 123101 31-Dec-01 $ 1,014.31 PROPERTY ADDRESS BL000400
ICS LOGISTICS 0305115 19-Apr-02 411.14
0304250 12-Apr-02 $ 1,464.00
0303296 5-Apr-02 $ 214.50
0301324 29-Mar-02 $ 1,872.75
0300501 22-Mar-02 $ 1,039.50
0299608 15-Mar-02 $ 965.25
0294084 8-Feb-22 $ 230.00
0288151 4-Jan-02 $ 990.00
0283961 7-Dec-01 $ 990.00
0277999 2-Nov-01 $ 990.00
0245847B 12-Oct-01 $ 1,056.00
$ 10,223.14
IIS INC 061002 10-Jun-02 $ (1,595.00)
LAKE COUNTY TRUSTEE 123101 31-Dec-01 $ 5,781.44 PROPERTY ADDRESS BL000400
LAURA MAX RACINE,
TIPTON COUNTY TRUSTEE 23101 31-Dec-01 $ 2,110.19 TIPTON COUNTY PERSONAL
PROPERTY TAX
LOGAN & COMPANY, INC 0205 31-May-02 $ 45,591.76 May-02
MARION COUNTY TRUSTEE 123101 31-Dec-01 $ 1,594.57 MARION COUNTY PROPERTY TAX
MCI WORLDCOM CONFRENCING 120101 1-Dec-01 $ (46.07) 01-00005980958-00691
MOELLER, STEVE 063002 30-Jun-02 $ 1,738.03 T&E 6/1-30/02
MONTGOMERY COUNTY TRUSTEE 123101 31-Dec-01 $ 2,694.83 PROPERTY ADDRESS BL000400
NANCE, PATRICIA 061002 10-Jun-02 $ 238.65
NATCHEZ WATER WORKS 40902 9-Apr-02 $ (18.36) # 13418
NYS LLC/LLP FEE 123101B 31-Dec-01 $ 325.00 DELTA QUEEN COASTAL
VOYAGES, L.L.C.
123101A 31-Dec-01 $ 325.00 CAPE MAY LIGHT, L. L. C.
Total for Supplier: $ 650.00
ORKIN EXTERMINATING, CO, INC 5005106 24-Apr-02 $ 170.12
PAUL MEADOW, TRUSTEE 123101 31-Dec-01 $ 4,646.31 LAUDERDALE COUNTY PROPERTY TAX
PERRY COUNTY 123101 31-Dec-01 $ 544.04 PROPERTY ADDRESS BL000400
PUSTIZZI, EDDIE 063002 30-Jun-02 $ 362.45 T&E 6/1-30/02
QWEST 054733167 26-Jun-02 $ 5.24 # 60517495
0543733146 26-Jun-02 $ 5.24 # 60517464
0543733157 26-Jun-02 $ 5.24 # 60517495
0543733144 26-Jun-02 $ 5.24 # 60517462
Total for Supplier: $ 20.96
SEAFARERS 0502HHTF 31-May-02 $ 396.50 MAY'02 TRAINING FUND
DUES0502 31-May-02 $ 4,891.50 MAY'02 SEAFARERS
INT'L-DUES&INITIATIONS
0502HLSS 31-May-02 $ 396.50 MAY'02 HARRY LUNDBERGER SCHOOL
Total for Supplier: $ 5,684.50
SMART RESOURCES, INC 141418 25-Jun-02 $ 308.50 KARENA SALMOND
SOMERSET REFINERY, INC 12718B 25-Oct-01 $ 0.01 PO # 11923
SOUTHWESTERN BELL 0227 122401 24-Dec-01 $ (14.66) 314-436-0227-138-8
8922 120401 4-Dec-01 $ (7.62) 573 221-8922 555-7
Total for Supplier: $ (22.28)
STANDARD COURIER 30367 22-Jun-02 $ 10.00
STATE OF NEW JERSEY 123101 31-Dec-01 $ 340.00 DELTA QUEEN STEAMBOAT COMPANY
STATE OF NEW JERSEY - CBT 123101 31-Dec-01 $ 340.00 DQSB II, INC
STEWART COUNTY TRUSTEE 123101 31-Dec-01 $ 2,569.98 PROPERTY ADDRESS BL000400
TAX COLLECTOR 123101 31-Dec-01 $ 240.81 PROPERTY ADDRESS BL000400
TENNESSEE DEPARTMENT OF REVENUE 123101 31-Dec-01 $ 7,000.00 DELTA QUEEN STEAMBOAT COMPANY
TRANSPORTATION INSTITUTE 0502TI 31-May-02 $ 396.50 MAY'02 TRANSPORTATION
TREASURER, CITY OF MEMPHIS 123101 31-Dec-01 $ 2,626.70 ACCOUNT NUMBER TBL000400
UNITED INDUSTRIAL WORKERS 0502WPP 31-May-02 $ 4,520.10 MAY'02 WELFARE PENSION
WAYNE COUNTY TRUSTEE 123101 31-Dec-01 $ 205.03 PROPERTY ADDRESS BL000400
WEST VIRGINIA STATE
TAX DEPARTMENT 123101 31-Dec-01 $ 2,010.00 AMERICAN CLASSIC VOYAGES, INC
WITHERS/SUDDATH RELOCATION
SYSTEMS, INC 145196 30-Oct-01 $ 10.00 60 DOLLIE LOADS
TOTAL FOR LIABILITY ACCOUNT: $160,559.11
TOTAL FOR REPORT: $160,559.11
$ 360.34
CREDIT AMERICAN AIRLINES $160,198.77
TOTAL A/P LIABILITY:
DEBTOR: AMCV CRUISE OPERATIONS, INC. CASE NUMBER: 01-10967 (JCA)
PRELIMINARY MONTHLY OPERATING REPORT
AS OF JUNE 30, 2002
AND
FOR THE MONTH THEN ENDED
ATTACHMENT 9
NOTES TO JUNE MONTHLY OPERATING REPORT
The information contained herein is unaudited.
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.