Form 10-Q
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
|X| Quarterly Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934.
For the quarterly period ended June 30, 2001
|_| Transition Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934.
For the transition period from _______ to _______
Commission File Number 333-62477
ATEL Capital Equipment Fund VIII, LLC
(Exact name of registrant as specified in its charter)
California 94-3307404
- ---------- ----------
(State or other jurisdiction of (I. R. S. Employer
incorporation or organization) Identification No.)
235 Pine Street, 6th Floor, San Francisco, California 94104
(Address of principal executive offices)
Registrant's telephone number, including area code: (415) 989-8800
Indicate by a check mark whether the registrant (1) has filed all reports
required to be filed by section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.
Yes |X|
No |_|
DOCUMENTS INCORPORATED BY REFERENCE
None
1
Part I. FINANCIAL INFORMATION
Item 1. Financial Statements.
2
ATEL CAPITAL EQUIPMENT FUND VIII, LLC
BALANCE SHEETS
JUNE 30, 2001 AND DECEMBER 31, 2000
(Unaudited)
ASSETS
2001 2000
---- ----
Cash and cash equivalents $ 2,211,941 $ 2,484,785
Accounts receivable 4,368,450 5,339,569
Other assets 100,000 115,000
Investments in leases 196,796,952 190,893,298
---------------- -----------------
Total assets $203,477,343 $198,832,652
================ =================
LIABILITIES AND MEMBERS' CAPITAL
Long-term debt $ 87,520,000 $86,668,000
Non-recourse debt 6,159,963 7,325,744
Line of credit 9,223,497 -
Accounts payable:
Managing member 509,889 695,548
Other 378,695 485,895
Accrued interest payable 208,781 267,823
Unearned operating lease income 1,646,108 2,051,141
---------------- -----------------
Total liabilities 105,646,933 97,494,151
Members' capital:
Managing member - -
Other members 97,830,410 101,338,501
---------------- -----------------
Total members' capital 97,830,410 101,338,501
---------------- -----------------
Total liabilities and members' capital $203,477,343 $198,832,652
================ =================
See accompanying notes.
3
ATEL CAPITAL EQUIPMENT FUND VIII, LLC
STATEMENTS OF OPERATIONS
SIX AND THREE MONTH PERIODS ENDED
JUNE 30, 2001 AND 2000
(Unaudited)
Six Months Three Months
Ended June 30, Ended June 30,
-------------- --------------
Revenues: 2001 2000 2001 2000
---- ---- ---- ----
Leasing activities:
Operating leases $23,023,666 $12,814,850 $ 9,205,063 $ 7,082,819
Direct financing leases 508,142 269,128 247,516 135,212
Gain on sales of assets 1,788,113 1,453 3,463 -
Interest 109,824 73,988 28,653 39,404
Other 25,909 2,573 9,306 1,763
----------------- ----------------- ---------------- -----------------
25,455,654 13,161,992 9,494,001 7,259,198
Expenses:
Depreciation and amortization 14,781,124 10,183,852 7,645,706 5,457,430
Interest expense 5,574,861 3,310,610 2,009,316 1,788,270
Asset management fees to Managing Member 1,009,978 592,977 407,013 290,525
Cost reimbursements to Managing Member 526,265 540,582 284,993 304,630
Other 163,722 66,929 102,367 43,545
Professional fees 185,430 40,910 55,506 40,910
----------------- ----------------- ---------------- -----------------
22,241,380 14,735,860 10,504,901 7,925,310
----------------- ----------------- ---------------- -----------------
Net income (loss) $ 3,214,274 $ (1,573,868) $(1,010,900) $ (666,112)
================= ================= ================ =================
Net income (loss):
Managing member $ 503,448 $ 333,878 $ 146,237 $ (23,333)
Other members 2,710,826 (1,907,746) (1,157,137) (642,779)
----------------- ----------------- ---------------- -----------------
$ 3,214,274 $ (1,573,868) $(1,010,900) $ (666,112)
================= ================= ================ =================
Net income (loss) per Limited Liability Company Unit $ 0.20 $ (0.21) $ (0.09) $ (0.07)
Weighted average number of Units outstanding 13,570,188 9,143,454 13,570,188 9,867,140
STATEMENT OF CHANGES IN MEMBERS' CAPITAL
SIX MONTH PERIOD ENDED
JUNE 30, 2001
(Unaudited)
Other Members Managing
-------------
Units Amount Member Total
Balance December 31, 2000 13,570,188 $101,338,501 $ - $101,338,501
Distributions to members (6,218,917) (503,448) (6,722,365)
Net income 2,710,826 503,448 3,214,274
----------------- ----------------- ---------------- -----------------
----------------- ----------------- ---------------- -----------------
Balance June 30, 2001 13,570,188 $97,830,410 $ - $97,830,410
================= ================= ================ =================
See accompanying notes.
4
ATEL CAPITAL EQUIPMENT FUND VIII, LLC
STATEMENTS OF CASH FLOWS
SIX AND THREE MONTH PERIODS ENDED
JUNE 30, 2001 AND 2000
(Unaudited)
Six Months Three Months
Ended June 30, Ended June 30,
-------------- --------------
2001 2000 2001 2000
---- ---- ---- ----
Operating activities:
Net income (loss) $ 3,214,274 $ (1,573,868) $(1,010,900) $ (666,112)
Adjustments to reconcile net income (loss) to cash
provided by operating activities:
Depreciation and amortization 14,781,124 10,183,852 7,645,706 5,457,430
Gain on sales of assets (1,788,113) (1,453) (3,463) -
Changes in operating assets and liabilities:
Accounts receivable 971,119 (355,264) (304,565) (1,240,942)
Other assets 15,000 15,000 7,500 7,500
Accounts payable, Managing Member (185,659) (259,703) (102,817) (287,003)
Accounts payable, other (107,200) 1,328,534 22,363 907,672
Accrued interest expense (59,042) 166,279 (6,586) 74,818
Unearned lease income (405,033) (81,284) (739,215) (537,209)
----------------- ----------------- ---------------- -----------------
Net cash provided by operations 16,436,470 9,422,093 5,508,023 3,716,154
----------------- ----------------- ---------------- -----------------
Investing activities:
Purchases of equipment on operating leases (27,938,716) (35,627,046) (313,309) (30,006,710)
Purchases of equipment on direct financing leases (810,271) (1,079,153) (636,064) (859,141)
Reduction of net investment in direct financing leases 1,396,835 899,922 1,191,935 427,579
Payment of initial direct costs to managing member (145,831) (479,818) (37,841) (145,571)
Proceeds from sales of assets 8,601,318 9,520 46,056 -
----------------- ----------------- ---------------- -----------------
Net cash (used in) provided by investing activities (18,896,665) (36,276,575) 250,777 (30,583,843)
----------------- ----------------- ---------------- -----------------
Financing activities:
Borrowings on line of credit 16,756,335 20,908,796 5,532,838 18,908,796
Repayments of line of credit (7,532,838) (17,308,796) (7,532,838) (9,808,796)
Proceeds of long-term debt 10,000,000 8,400,000 2,000,000 8,400,000
Repayments of long-term debt (9,148,000) (4,923,000) (4,895,000) (3,009,000)
Repayments of non-recourse debt (1,165,781) (1,086,473) (138,094) 20,923
Distributions to other members (6,218,917) (4,117,831) (3,121,917) (2,172,999)
Distributions to managing member (503,448) (333,878) (253,128) 23,333
Capital contributions received - 29,725,990 - 16,063,990
Payment of syndication costs to managing member - (4,159,539) - (2,355,400)
----------------- ----------------- ---------------- -----------------
Net cash provided by (used in) financing activities 2,187,351 27,105,269 (8,408,139) 26,070,847
----------------- ----------------- ---------------- -----------------
Net (decrease) increase in cash and cash
equivalents (272,844) 250,787 (2,649,339) (796,842)
Cash and cash equivalents at beginning of period 2,484,785 3,973,342 4,861,280 5,020,971
----------------- ----------------- ---------------- -----------------
Cash and cash equivalents at end of period $ 2,211,941 $ 4,224,129 $ 2,211,941 $ 4,224,129
================= ================= ================ =================
Supplemental disclosures of cash flow information:
Cash paid during the period for interest $ 5,633,903 $ 3,144,331 $ 2,015,902 $ 1,713,452
================= ================= ================ =================
See accompanying notes.
5
ATEL CAPITAL EQUIPMENT FUND VIII, LLC
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001 AND 2000
(Unaudited)
1. Summary of significant accounting policies:
Interim financial statements:
The unaudited interim financial statements reflect all adjustments which are, in
the opinion of the managing member, necessary to a fair statement of financial
position and results of operations for the interim periods presented. All such
adjustments are of a normal recurring nature. These unaudited interim financial
statements should be read in conjunction with the most recent report on Form
10K.
2. Organization and Company matters:
ATEL Capital Equipment Fund VIII, LLC. (the Company), was formed under the laws
of the State of California on July 31, 1998, for the purpose of acquiring
equipment to engage in equipment leasing and sales activities. Contributions in
the amount of $600 were received as of October 7, 1998, $100 of which
represented the Managing Member's (ATEL Financial Corporation's) continuing
interest, and $500 of which represented the Initial Members' capital investment.
Upon the sale of the minimum amount of Units of Limited Liability Company
interest (Units) of $1,200,000 and the receipt of the proceeds thereof on
January 13, 1999, the Company commenced operations.
The Company does not make a provision for income taxes since all income and
losses will be allocated to the Partners for inclusion in their individual tax
returns.
3. Investment in leases:
The Company's investment in leases consists of the following:
Depreciation
Balance Expense or Reclassi- Balance
December 31, Amortization fications or June 30,
2000 Additions of Leases Dispositions 2001
---- --------- --------- -------------- ----
Net investment in operating
leases $173,395,247 $27,938,716 $ (14,593,990) $ (6,813,205) $179,926,768
Net investment in direct
financing leases 16,253,263 810,271 (1,396,835) - 15,666,699
Initial direct costs, net of
accumulated amortization 1,244,788 145,831 (187,134) - 1,203,485
----------------- ----------------- ----------------- ---------------- -----------------
$190,893,298 $28,894,818 $ (16,177,959) $(6,813,205) $196,796,952
================= ================= ================= ================ =================
6
ATEL CAPITAL EQUIPMENT FUND VIII, LLC
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001 AND 2000
(Unaudited)
3. Investment in leases (continued):
Operating leases:
Property on operating leases consists of the following:
Acquisitions, Dispositions &
Balance Reclassifications Balance
December 31, ----------------- June 30,
2000 1st Quarter 2nd Quarter 2001
---- ----------- ----------- ----
Transportation, rail $ 39,634,498 $ 9,741,779 $ 49,376,277
Manufacturing 48,027,279 533,851 $ 618,173 49,179,303
Aircraft 31,614,874 6,920,565 130,563 38,666,002
Transportation, other 23,583,472 (144,316) (1,000) 23,438,156
Containers 21,228,750 - - 21,228,750
Natural gas compressors 14,045,134 6,467 - 14,051,601
Other 12,711,963 8,901 - 12,720,864
Materials handling 5,858,081 2,613,347 (760,907) 7,710,521
Marine vessel 4,314,031 - - 4,314,031
----------------- ----------------- ---------------- -----------------
201,018,082 19,680,594 (13,171) 220,685,505
Less accumulated depreciation (27,622,835) (5,588,036) (7,547,866) (40,758,737)
----------------- ----------------- ---------------- -----------------
$173,395,247 $ 14,092,558 $ (7,561,037) $179,926,768
================= ================= ================ =================
Direct financing leases:
As of June 30, 2001, investment in direct financing leases consists primarily
office automation equipment. The following lists the components of the Company's
investment in direct financing leases as of June 30, 2001:
Total minimum lease payments receivable $ 13,946,504
Estimated residual values of leased equipment (unguaranteed) 4,908,381
----------------
Investment in direct financing leases 18,854,885
Less unearned income (3,188,186)
----------------
Net investment in direct financing leases $ 15,666,699
================
All of the property on leases was acquired in 1999, 2000 and 2001.
7
ATEL CAPITAL EQUIPMENT FUND VIII, LLC
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001 AND 2000
(Unaudited)
3. Investment in leases (continued):
At June 30, 2001, the aggregate amounts of future minimum lease payments are as
follows:
Direct
Year ending Operating Financing
December 31, Leases Leases Total
------------ ------ ------ -----
2001 $17,659,911 $ 1,821,285 $ 19,481,196
2002 31,377,921 3,260,750 34,638,671
2003 25,091,726 2,953,693 28,045,419
2004 15,627,523 1,989,108 17,616,631
2005 11,262,132 1,901,705 13,163,837
Thereafter 16,411,609 2,019,963 18,431,572
----------------- ----------------- ----------------
$117,430,822 $13,946,504 $131,377,326
================= ================= ================
4. Non-recourse debt:
At June 30, 2001, non-recourse debt consists of notes payable to financial
institutions. The notes are due in varying quarterly and semi-annual payments.
Interest on the notes is at rates from 7.98% to 14.0%. The notes are secured by
assignments of lease payments and pledges of assets. The notes mature from 2001
through 2006.
Future minimum payments of non-recourse debt are as follows:
Year ending
December 31, Principal Interest Total
------------ --------- -------- -----
2001 $ 144,998 $ 269,315 $ 414,313
2002 312,109 515,608 827,717
2003 397,915 486,617 884,532
2004 4,425,556 170,437 4,595,993
2005 418,256 77,737 495,993
Thereafter 461,129 34,866 495,995
----------------- ----------------- ----------------
$ 6,159,963 $ 1,554,580 $ 7,714,543
================= ================= ================
8
ATEL CAPITAL EQUIPMENT FUND VIII, LLC
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001 AND 2000
(Unaudited)
5. Other long-term debt:
In 1999, the Company entered into a $70 million receivables funding program (the
Program) (which has been increased to $125 million) with a receivables financing
company that issues commercial paper rated A1 by Standard and Poors and P1 by
Moody's Investor Services. Under the Program, the receivables financing company
receives a general lien against all of the otherwise unencumbered assets of the
Company. The Program provides for borrowing at a variable interest rate (4.4994%
at June 30, 2001).
The Program requires the Managing Member to enter into various interest rate
swaps with a financial institution (also rated A1/P1) to manage interest rate
exposure associated with variable rate obligations under the Program by
effectively converting the variable rate debt to fixed rates. As of June 30,
2001, the Company receives or pays interest on a notional principal of
$87,520,000, based on the difference between nominal rates ranging from 5.04% to
7.72% and the variable rate under the Program. No actual borrowing or lending is
involved. The last of the swaps terminates in 2009. The differential to be paid
or received is accrued as interest rates change and is recognized currently as
an adjustment to interest expense related to the debt.
Borrowings under the Program are as follows:
Original Balance Rate on
Amount June 30, Interest Swap
Date Borrowed Borrowed 2001 Agreement
------------- -------- ---- ---------
11/11/1999 $ 20,000,000 $12,650,000 6.840%
12/21/1999 20,000,000 17,527,000 7.410%
12/24/1999 25,000,000 17,824,000 7.440%
4/17/2000 6,500,000 5,385,000 7.450%
4/28/2000 1,900,000 1,342,000 7.720%
8/3/2000 19,000,000 16,570,000 7.500%
10/31/2000 7,500,000 6,610,000 7.130%
1/29/2001 8,000,000 7,636,000 5.910%
6/1/2001 2,000,000 1,976,000 5.040%
----------------- -----------------
$109,900,000 $87,520,000
================= =================
Other long-term debt borrowings mature from 2004 through 2009. Future minimum
principal payments of long-term debt are as follows:
Year ending
December 31, Principal Interest Total
--------- -------- -----
2001 $10,566,000 $ 2,966,928 $ 13,532,928
2002 20,905,000 4,823,462 25,728,462
2003 18,790,000 3,394,329 22,184,329
2004 13,267,000 2,234,800 15,501,800
2005 9,486,000 1,428,010 10,914,010
Thereafter 14,506,000 1,529,552 16,035,552
----------------- ----------------- ----------------
$87,520,000 $16,377,081 $103,897,081
================= ================= ================
9
ATEL CAPITAL EQUIPMENT FUND VIII, LLC
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001 AND 2000
(Unaudited)
6. Related party transactions:
The terms of the Limited Company Operating Agreement provide that the Managing
Member and/or Affiliates are entitled to receive certain fees for equipment
acquisition, management and resale and for management of the Company.
The Limited Liability Company Operating Agreement allows for the reimbursement
of costs incurred by the Managing Member in providing administrative services to
the Company. Administrative services provided include Company accounting,
investor relations, legal counsel and lease and equipment documentation. The
Managing Member is not reimbursed for services where it is entitled to receive a
separate fee as compensation for such services, such as acquisition and
management of equipment. Reimbursable costs incurred by the Managing Member are
allocated to the Company based upon actual time incurred by employees working on
Company business and an allocation of rent and other costs based on utilization
studies.
Substantially all employees of the Managing Member record time incurred in
performing administrative services on behalf of all of the Companies serviced by
the Managing Member. The Managing Member believes that the costs reimbursed are
the lower of (i) actual costs incurred on behalf of the Company or (ii) the
amount the Company would be required to pay independent parties for comparable
administrative services in the same geographic location and are reimbursable in
accordance with the Limited Liability Company Operating Agreement.
The Managing Member and/or Affiliates earned fees, commissions and
reimbursements, pursuant to the Limited Liability Company Agreement during the
six month periods ended June 30, 2000 and 1999 as follows:
2001 2000
---- ----
Asset management fees to Managing Member $ 1,009,978 $ 592,977
Administrative costs reimbursed to Managing Member 526,265 540,582
Selling commissions (equal to 9.5% of the selling price of the Limited Liability
Company units, deducted from Other Members' capital) - 3,855,618
Reimbursement of other syndication costs to Managing Member - 1,957,345
---------------- -----------------
$ 1,536,243 $ 6,946,522
================ =================
7. Member's capital:
As of June 30, 2001, 13,570,188 Units ($135,701,880) were issued and
outstanding. The Company's registration statement with the Securities and
Exchange Commission became effective December 7, 1998. The offering was
concluded on November 30, 2000. The Company is authorized to issue up to
15,000,050 Units, including the 50 Units issued to the initial members.
The Company's Net Income, Net Losses, and Distributions are to be allocated
92.5% to the Members and 7.5% to the Managing Member.
10
ATEL CAPITAL EQUIPMENT FUND VIII, LLC
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001 AND 2000
(Unaudited)
8. Line of credit:
The Partnership participates with the General Partner and certain of its
Affiliates in a $62,000,000 revolving credit agreement with a group of financial
institutions which expires on April 12, 2002. The agreement includes an
acquisition facility and a warehouse facility which are used to provide bridge
financing for assets on leases. Draws on the acquisition facility by any
individual borrower are secured only by that borrower's assets, including
equipment and related leases. Borrowings on the warehouse facility are recourse
jointly to certain of the Affiliates, the Partnership and the General Partner.
The Partnership had $9,223,497 of borrowings under the agreement at June 30,
2001.
The credit agreement includes certain financial covenants applicable to each
borrower. The Partnership was in compliance with its covenants as of June 30,
2001.
9. Commitments:
As of June 30, 2001, the Company had no outstanding commitments to purchase
lease equipment.
11
Item 2. Management's Discussion and Analysis of Financial Condition and Results
of Operations
Capital Resources and Liquidity
During the first half of 2001, the Company's primary activity was engaging in
equipment leasing activities. During the first half of 2000, the Company's
primary activities were raising funds through its offering of Limited Liability
Company Units (Units) and engaging in equipment leasing activities.
During 2001, the Company's primary source of liquidity was rents from operating
leases. The liquidity of the Company will vary in the future, increasing to the
extent cash flows from leases exceed expenses, and decreasing as lease assets
are acquired, as distributions are made to the members and to the extent
expenses exceed cash flows from leases.
As another source of liquidity, the Company has contractual obligations with a
diversified group of lessees for fixed lease terms at fixed rental amounts. As
the initial lease terms expire the Company will re-lease or sell the equipment.
The future liquidity beyond the contractual minimum rentals will depend on the
Managing Member's success in re-leasing or selling the equipment as it comes off
lease.
The Company participates with the Managing Member and certain of its affiliates
in a $62,000,000 revolving line of credit with a group of financial
institutions. The line of credit expires on April 12, 2002.
The Company anticipates reinvesting a portion of lease payments from assets
owned in new leasing transactions. Such reinvestment will occur only after the
payment of all obligations, including debt service (both principal and
interest), the payment of management and acquisition fees to the Managing Member
and providing for cash distributions to the Limited Partners.
The Company currently has available adequate reserves to meet contingencies, but
in the event those reserves were found to be inadequate, the Company would
likely be in a position to borrow against its current portfolio to meet such
requirements. The Managing Member envisions no such requirements for operating
purposes.
No commitments of capital have been or are expected to be made other than for
the acquisition of additional equipment. There were no such commitments as of
June 30, 2001.
If inflation in the general economy becomes significant, it may affect the
Company inasmuch as the residual (resale) values and rates on re-leases of the
Company's leased assets may increase as the costs of similar assets increase.
However, the Company's revenues from existing leases would not increase, as such
rates are generally fixed for the terms of the leases without adjustment for
inflation.
If interest rates increase significantly, the lease rates that the Company can
obtain on future leases will be expected to increase as the cost of capital is a
significant factor in the pricing of lease financing. Leases already in place,
for the most part, would not be affected by changes in interest rates.
Cash Flows
During the first half of 2001, the Company's primary source of liquidity was
operating lease rents. During the first two quarters of 2000, the Company's
primary source of liquidity was the proceeds of its offering of Units.
Sources of cash flows from operating activities consisted primarily of operating
lease revenues.
12
In 2001, the most significant source of cash flows from investing activities was
proceeds from the sales of lease assets. Rents from direct financing leases were
the only significant source of cash from investing activities in 2000. Uses of
cash for investing activities consisted of cash used to purchase operating and
direct financing lease assets and payment of initial direct costs related to
lease asset purchases.
In 2001, sources of cash from financing activities consisted of borrowings on
the line of credit and proceeds of long-term debt. In 2000, financing sources of
cash consisted of the proceeds of the Company's offering, funds borrowed on the
line of credit and proceeds of long-term debt. Financing uses of cash included
payments of syndication costs associated with the offering, repayments of
long-tern debt, repayments of non-recourse debt, repayments of borrowings under
the line of credit and distributions to the members.
Results of operations
In 2000, operations resulted in a net loss of $1,573,868 for the six month
period and a net loss of $666,112 for the three month period. In 2001,
operations resulted in net income of $3,214,274 for the first half of the year
and a net loss of $1,010,900 for the second quarter. The Company's primary
source of revenues is from operating leases. In future periods, operating leases
are also expected to be the most significant source of revenues. Depreciation is
related to operating lease assets and thus, to operating lease revenues. It is
expected to increase in future periods as acquisitions continue.
Asset management fees are based on the gross lease rents of the Company plus
proceeds from the sales of lease assets. They are limited to certain percentages
of lease rents, distributions to members and certain other items. As assets are
acquired, lease rents are collected and distributions are made to the members,
these fees are expected to increase.
Interest expense has increased compared to 2000 due to borrowings since June 30,
2000, particularly long-term and non-recourse debt borrowings.
PART II. OTHER INFORMATION
Item 1. Legal Proceedings.
Inapplicable.
Item 2. Changes In Securities.
Inapplicable.
Item 3. Defaults Upon Senior Securities.
Inapplicable.
Item 4. Submission Of Matters To A Vote Of Security Holders.
Inapplicable.
Item 5. Other Information.
Inapplicable.
13
Item 6. Exhibits And Reports On Form 8-K.
(a)Documents filed as a part of this report
1. Financial Statements
Included in Part I of this report:
Balance Sheets, June 30, 2001 and December 31,
2000.
Statements of operations for the six and three
month periods ended June 30, 2001 and 2000.
Statement of changes in partners' capital for the
six month period ended June 30, 2001.
Statements of cash flows for the six and three
month periods ended June 30, 2001 and 2000.
Notes to the Financial Statements
2. Financial Statement Schedules
All other schedules for which provision is made in
the applicable accounting regulations of the
Securities and Exchange Commission are not required
under the related instructions or are inapplicable,
and therefore have been omitted.
(b) Report on Form 8-K
None
14
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date:
August 8, 2001
ATEL CAPITAL EQUIPMENT FUND VIII, LLC
(Registrant)
By: ATEL Financial Services, LLC
Managing Member of Registrant
By: /s/ DEAN L. CASH
-----------------------------------
Dean L. Cash
President and Chief Executive
Officer of Managing Member
By: /s/ PARITOSH K. CHOKSI
-----------------------------------
Paritosh K. Choksi
Executive Vice President of
Managing Member, Principal
financial officer of registrant
By: /s/ DONALD E. CARPENTER
------------------------------------
Donald E. Carpenter
Principal accounting officer of
registrant
15