DEBTOR: GREAT HAWAIIAN CRUISE LINE, INC. CASE NUMBER: 01-10975 (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: GREAT HAWAIIAN CRUISE LINE, INC. CASE NUMBER: 01-10975 (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 And Investment Accounts Attachment 1
4:14 PM Great Hawaiian Cruise Line, Inc.
Summary Case No: 01-10975 (JCA) UNAUDITED
Great Hawaiian Cruise Line, 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
- ------- ------------- ------------- ------------- ---------- ----------
No Bank Or Investment
Accounts NA NA NA NA NA
20-Jul-02 Receipts & Disbursements Attachment 2
4:15 PM Great Hawaiian Cruise Line, Inc.
Summary Case No: 01-10975 (JCA)
Great Hawaiian Cruise Line For Month Of June, 2002
Attach 2
No Receipts Or Disbursements Due To No Bank Or Investment Accounts
20-Jul-02 Concentration & Investment Account Statements Attachment 3
4:16 PM Great Hawaiian Cruise Line, Inc.
Summary Case No: 01-10975 (JCA)
Great Hawaiian Cruise Line 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 09:47:48
INCOME STATEMENT - ATTACHMENT 4 Page: 1
Current Period: JUN-02
currency USD
Company=50 (GREAT HAWAII CRUISE LN)
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
Sales & Marketing 0.00
Start-Up Costs 0.00
--------------
Total SG&A Expenses 0.00
--------------
EBITDA 0.00
Depreciation 0.00
--------------
Operating Income 0.00
Other Expense/(Income)
Interest Income 0.00
Equity in Earnings for Sub (55,478,605.38)
Reorganization expenses 0.00
--------------
Total Other Expense/(Income) 55,478,605.38
--------------
Net Pretax Income/(Loss) (55,478,605.38)
Income Tax Expense 0.00
--------------
Net Income/(Loss) (55,478,605.38)
==============
AMCV US SET OF BOOKS Date: 26-JUL-02 09:52:57
BALANCE SHEET - ATTACHMENT 5 Page: 1
Current Period: JUN-02
currency USD
Company=50 (GREAT HAWAII CRUISE LN)
YTD-Actual YTD-Actual
30-Jun-02 22-Oct-02
-------------- --------------
ASSETS
Cash and Equivalent 0.00 0.00
Restricted Cash 0.00 0.00
Accounts Receivable 0.00 0.00
Inventories 0.00 0.00
Prepaid Expenses 0.00 0.00
Other Current Assets 0.00 0.00
-------------- --------------
Total Current Assets 0.00 0.00
Fixed Assets 0.00 0.00
Accumulated Depreciation 0.00 0.00
-------------- --------------
Net Fixed Assets 0.00 0.00
Net Goodwill 0.00 0.00
Intercompany Due To/From (24,595,692.37) (24,608,201.70)
Net Deferred Financing Fees 0.00 0.00
Net Investment in Subsidiaries (14,892,347.84) 41,532,108.18
-------------- --------------
Total Other Assets (39,488,040.21) 16,923,906.48
-------------- --------------
Total Assets (39,488,040.21) 16,923,906.48
============== ==============
AMCV US SET OF BOOKS Date: 26-JUL-02 09:52:57
BALANCE SHEET - ATTACHMENT 5 Page: 2
Current Period: JUN-02
currency USD
Company=50 (GREAT HAWAII CRUISE LN)
YTD-Actual YTD-Actual
30-Jun-02 22-Oct-02
-------------- --------------
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 (1,816,230.95) (1,816,230.95)
-------------- --------------
Total Liabilities (1,816,230.95) (1,816,230.95)
OTHER
Liabilities Subject to Compromise 0.00 0.00
-------------- --------------
Total Other 0.00 0.00
OWNER'S EQUITY
Common Stock 8,440.25 8,440.25
Add'l Paid In Capital 76,531,536.87 76,531,536.87
Current Net Income (Loss) (57,283,189.85) (11,777,334.92)
Retained Earnings (56,928,596.53) (46,022,504.77)
-------------- --------------
Total Owner's Equity (37,671,809.26) 18,740,137.43
-------------- --------------
Total Liabilities & Equity (39,488,040.21) 16,923,906.48
============== ==============
BEGINNING ENDING
AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE
American Classic Voyages Co. 01-10954 (3,571,229.75) -- -- (3,571,229.75)
AMCV Holdings, Inc. 01-10973 180,777.22 1,500.00 15.00 182,262.22
AMCV Cruise Operations, Inc. 01-10967 22,292.97 -- -- 22,292.97
The Delta Queen Steamboat Co. 01-10970 7,057.02 -- -- 7,057.02
Great River Cruise Line, L.L.C 01-10963 60.73 -- -- 60.73
Great Ocean Cruise Line, L.L.C 01-10959 37,394.43 -- -- 37,394.43
Cape May Light, L.L.C 01-10961 8,411.75 -- -- 8,411.75
Oceanic Ship Co. N/A (1,803.12) -- -- (1,803.12)
Great Hawaiian Properties Corporation 01-10971 3,600,035.73 -- 1,500.00 3,598,535.73
American Hawaii Properties Corporation 01-10976 (179,648.39) 1,515.00 1,500.00 (179,633.39)
Great Independence Ship Co. 01-10969 (24,699,040.96) -- -- (24,699,040.96)
---------------------------------------------------------------
(24,595,692.37) 3,015.00 3,015.00 (24,595,692.37)
===============================================================
Great Hawaiian Cruise Line, Inc.
01-10975 (JCA)
Accounts Receivable Aging
As of June 30, 2002
Attachment 7
Not Applicable
Great Hawaiian Cruise Line, Inc.
01-10975 (JCA)
Accounts Payable Detail
As of June 30, 2002
Attachment 8
Not Applicable
DEBTOR: GREAT HAWAIIAN CRUISE LINE, INC. CASE NUMBER: 01-10975 (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.
1. 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.