EXHIBIT 99.15
DEBTOR: OCEAN DEVELOPMENT CO. CASE NUMBER: 01-10972 (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: OCEAN DEVELOPMENT CO. CASE NUMBER: 01-10972 (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 & Petty Cash Accounts Attachment 1
4:05 PM Ocean Development Co.
Summary Case No: 01-10972 (JCA) UNAUDITED
Ocean Development Co. 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
- ------- ------------- ------------- ------------- ---------- ----------
Ocean Development Co. 0.00 0.00 No - No - No -
City National Bank Account Account Account
Account # - 1604832 Closed Closed Closed
ODC Disbursements 0.00 0.00 No - No - No -
LaSalle Bank Account Account Account
Account # - 5800156167 Closed Closed Closed
ODC Payroll 0.00 0.00 No - No - No -
LaSalle Bank Account Account Account
Account # - 5800156175 Closed Closed Closed
Ocean Development Co. 0.00 0.00 No - Not A Bank No -
Petty Cash No Activity Account No Activity
20-Jul-02 Receipts & Disbursements Attachment 2
4:06 PM Ocean Development Co.
Summary Case No: 01-10972 (JCA)
Ocean Development Co. For Month Of June, 2002
Attach 2
No Receipts Or Disbursements Due To All Accounts Closed
20-Jul-02 Concentration & Investment Account Statements Attachment 3
4:07 PM Ocean Development Co.
Summary Case No: 01-10972 (JCA)
Ocean Development Co. For Month Of June, 2002
Attach 3
No Statements Due To No Concentration Or Investment Accounts
AMCV US SET OF BOOKS Date: 26-JUL-02 09:47:44
INCOME STATEMENT - ATTACHMENT 4 Page: 1
Current Period: JUN-02
currency USD
Company=61 (ODC)
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 9,167.14
Sales & Marketing 0.00
Start-Up Costs 0.00
----------
Total SG&A Expenses 9,167.14
----------
EBITDA (9,167.14)
Depreciation 0.00
----------
Operating Income (9,167.14)
Other Expense/(Income)
Interest Income 0.00
Equity in Earnings for Sub 0.00
Reorganization expenses 0.00
----------
Total Other Expense/(Income) 0.00
----------
Net Pretax Income/(Loss) (9,167.14)
Income Tax Expense 0.00
----------
Net Income/(Loss) (9,167.14)
==========
AMCV US SET OF BOOKS Date: 26-JUL-02 09:52:52
BALANCE SHEET - ATTACHMENT 5 Page: 1
Current Period: JUN-02
currency USD
Company=61 (ODC)
YTD-Actual YTD-Actual
30-Jun-02 22-Oct-02
------------ ------------
ASSETS
Cash and Equivalent 0.00 118,106.14
Restricted Cash 0.00 0.00
Accounts Receivable 0.00 151,000.00
Inventories 0.00 0.00
Prepaid Expenses 0.00 2,428.25
Other Current Assets 0.00 12,086.31
------------ ------------
Total Current Assets 0.00 283,620.70
Fixed Assets 0.00 475,030.49
Accumulated Depreciation 0.00 (200,064.63)
------------ ------------
Net Fixed Assets 0.00 274,965.86
Net Goodwill 0.00 0.00
Intercompany Due To/From (606,088.17) (661,080.60)
Net Deferred Financing Fees 0.00 0.00
Net Investment in Subsidiaries 0.00 0.00
------------ ------------
Total Other Assets (606,088.17) (661,080.60)
------------ ------------
Total Assets (606,088.17) (102,494.04)
============ ============
AMCV US SET OF BOOKS Date: 26-JUL-02 09:52:52
BALANCE SHEET - ATTACHMENT 5 Page: 2
Current Period: JUN-02
currency USD
Company=61 (ODC)
YTD-Actual YTD-Actual
30-Jun-02 22-Oct-02
------------ ------------
LIABILITIES
Accounts Payable 0.00 8,352.05
Accrued Liabilities 0.00 4,455.57
Deposits 0.00 0.00
------------ ------------
Total Current Liabilities 0.00 12,807.62
Long Term Debt 0.00 0.00
Other Long Term Liabilities 0.00 0.00
------------ ------------
Total Liabilities 0.00 12,807.62
OTHER
Liabilities Subject to Compromise 12,807.62 0.00
------------ ------------
Total Other 12,807.62 0.00
OWNER'S EQUITY
Common Stock 1.00 1.00
Add'l Paid In Capital 99.00 99.00
Current Net Income (Loss) (20,294.67) (34,923.61)
Retained Earnings (598,701.12) (80,478.05)
------------ ------------
Total Owner's Equity (618,895.79) (115,301.66)
------------ ------------
Total Liabilities & Equity (606,088.17) (102,494.04)
============ ============
BEGINNING ENDING
AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE
American Classic Voyages Co. 01-10954 (206,379,952.56) -- 9,167.14 (206,389,119.70)
AMCV Cruise Operations, Inc. 01-10967 (1,559,238.61) -- -- (1,559,238.61)
The Delta Queen Steamboat Co. 01-10970 (2,214,633.49) -- -- (2,214,633.49)
Great Pacific NW Cruise Line, L.L.C. 01-10977 24,185,738.20 -- -- 24,185,738.20
Cruise America Travel, Incorporated 01-10966 (15,996.19) -- -- (15,996.19)
Cape Cod Light, L.L.C. 01-10962 13,058,475.55 -- -- 13,058,475.55
Cape May Light, L.L.C. 01-10961 14,604,239.22 -- -- 14,604,239.22
Project America, Inc. N/A (121,769.93) -- -- (121,769.93)
Oceanic Ship Co. N/A 16,588,600.15 -- -- 16,588,600.15
Project America Ship I, Inc. N/A 88,694,801.97 -- -- 88,694,801.97
Project America Ship II, Inc. N/A 53,705,913.72 -- -- 53,705,913.72
Great Hawaiian Properties Corporation 01-10971 (780,707.24) -- -- (780,707.24)
CAT II, Inc. 01-10968 (362,391.82) -- -- (362,391.82)
------------------------------------------------------------------------
(596,921.03) -- 9,167.14 (606,088.17)
========================================================================
Ocean Development Co.
01-10972 (JCA)
Accounts Receivable Aging
As of June 30, 2002
Attachment 7
Not Applicable
Ocean Development Co.
01-10972 (JCA)
Accounts Payable Detail
As of June 30, 2002
Attachment 8
Not Applicable
DEBTOR: OCEAN DEVELOPMENT CO. CASE NUMBER: 01-10972 (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.