EXHIBIT 99.20
DEBTOR: GREAT PACIFIC NW CRUISE LINE, L.L.C. CASE NUMBER: 01-10977 (JCA)
MONTHLY OPERATING REPORT
AS OF JULY 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 July 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 PACIFIC NW CRUISE LINE, L.L.C. CASE NUMBER: 01-10977 (JCA)
MONTHLY OPERATING REPORT
AS OF JULY 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 July Monthly Operating Report
Summary Of Bank, Investment & Petty Cash Accounts Attachment 1
Great Pacific NW Cruise Line, L.L.C.
Summary Case No: 01-10977 (JCA) UNAUDITED
Great Pacific NW Cruise Line, LLC For Month Of July, 2002
Balances
--------------------------------- Receipts & Bank
Opening Closing Disbursements Statements Account
Account As Of 7/01/02 As Of 7/31/02 Included Included Reconciled
- ------- ------------- ------------- -------- -------- ----------
Great Pacific NW Cruise Line 0.00 0.00 No - No - No -
Payroll Account Account Account
U.S. Bank Closed Closed Closed
Account # - 153390417191
Great Pacific NW Cruise Line 0.00 0.00 No - No - No -
Steamer Account Account Account
U.S. Bank Closed Closed Closed
Account # - 153390417191
Great Pacific NW Cruise Line 0.00 0.00 No - No - Not No -
Columbia Queen Petty Cash No Activity Concentration No Activity
Account
Receipts & Disbursements Attachment 2
Great Pacific NW Cruise Line, L.L.C.
Summary Case No: 01-10977 (JCA)
Great Pacific NW Cruise Line, LLC For Month Of July, 2002
Attach 2
No Receipts Or Disbursements Due To All Accounts Closed
Concentration & Investment Account Statements Attachment 3
Great Pacific NW Cruise Line, L.L.C.
Summary Case No: 01-10977 (JCA)
Great Pacific NW Cruise Line, LLC For Month Of July, 2002
Attach 3
No Statements Due To No Concentration Or Investment Accounts
AMCV US SET OF BOOKS Date: 14-AUG-02 16:55:03
INCOME STATEMENT - ATTACHMENT 4 Page: 1
Current Period: JUL-02
currency USD
Company=24 (COLUMBIA QUEEN)
PTD-Actual
31-Jul-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 (1,454.50)
Vessel Expenses 0.00
Layup/Drydock Expense 0.00
Vessel Insurance 8,779.63
----------
Total Operating Expenses 7,325.13
----------
Gross Profit (7,325.13)
SG&A Expenses
Sales & Marketing 0.00
Start-Up Costs 0.00
----------
Total SG&A Expenses 0.00
----------
EBITDA (7,325.13)
Depreciation 0.00
----------
Operating Income (7,325.13)
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) (7,325.13)
Income Tax Expense 0.00
----------
Net Income/(Loss) (7,325.13)
==========
AMCV US SET OF BOOKS Date: 14-AUG-02 17:04:04
BALANCE SHEET - ATTACHMENT 5 Page: 1
Current Period: JUL-02
currency USD
Company=24 (COLUMBIA QUEEN)
YTD-Actual YTD-Actual
31-Jul-02 22-Oct-02
------------- -------------
ASSETS
Cash and Equivalent 0.00 31,623.21
Restricted Cash 0.00 0.00
Accounts Receivable 0.00 11,425.61
Inventories 0.00 199,562.38
Prepaid Expenses 0.00 2,800.00
Other Current Assets 0.00 0.00
------------- -------------
Total Current Assets 0.00 245,411.20
Fixed Assets 0.00 45,093,524.95
Accumulated Depreciation 0.00 (1,870,234.50)
------------- -------------
Net Fixed Assets 0.00 43,223,290.45
Net Goodwill 0.00 0.00
Intercompany Due To/From (10,107,149.00) (9,983,225.62)
Net Deferred Financing Fees 0.00 2,545,011.02
Net Investment in Subsidiaries 0.00 0.00
Other Non Current Assets 12,000,000.00 0.00
------------- -------------
Total Other Assets 1,892,851.00 (7,438,214.60)
------------- -------------
Total Assets 1,892,851.00 36,030,487.05
============= =============
AMCV US SET OF BOOKS Date: 14-AUG-02 17:04:04
BALANCE SHEET - ATTACHMENT 5 Page: 2
Current Period: JUL-02
currency USD
Company=24 (COLUMBIA QUEEN)
YTD-Actual YTD-Actual
31-Jul-02 22-Oct-02
------------- -------------
LIABILITIES
Accounts Payable 235.00 180.00
Accrued Liabilities 0.00 331,444.68
Deposits 0.00 0.00
------------- -------------
Total Current Liabilities 235.00 331,624.68
Long Term Debt 0.00 0.00
Other Long Term Liabilities 0.00 0.00
------------- -------------
Total Liabilities 235.00 331,624.68
Liabilities Subject to Compromise 37,788,314.80 37,792,814.64
OWNER'S EQUITY
Common Stock 0.00 0.00
Add'l Paid In Capital 0.00 0.00
Current Net Income (Loss) (33,710,792.99) 18,578.51
Retained Earnings (2,184,905.81) (2,112,530.78)
------------- -------------
Total Owner's Equity (35,895,698.80) (2,093,952.27)
------------- -------------
Total Liabilities & Equity 1,892,851.00 36,030,487.05
============= =============
Great Pacific ATTACHMENT 6 01-10977 (JCA)
NW Cruise Line, LLC Summary List of Due To/Due From Accounts
For the Month Ended July 31, 2002
BEGINNING ENDING
AFFILIATE NAME CASE NUMBER BALANCE DEBITS CREDITS BALANCE
American Classic Voyages Co. 01-10954 15,472,854.20 -- -- 15,472,854.20
AMCV Cruise Operations, Inc. 01-10967 (9,433,330.28) -- 446.30 (9,433,776.58)
The Delta Queen Steamboat Co. 01-10970 8,418,523.91 1,454.50 8,333.33 8,411,645.08
DQSB II, Inc. 01-10974 (339.49) -- -- (339.49)
Great AQ Steamboat, L.L.C 01-10960 (5,552.79) -- -- (5,552.79)
Great River Cruise Line, L.L.C 01-10963 (4,812.08) -- -- (4,812.08)
Great Ocean Cruise Line, L.L.C 01-10959 (10,219.55) -- -- (10,219.55)
Cruise America Travel, Incorporated 01-10966 (674,733.24) -- -- (674,733.24)
Delta Queen Coastal Voyages, L.L.C 01-10964 118,887.26 -- -- 118,887.26
Cape May Light, L.L.C 01-10961 5,380.67 -- -- 5,380.67
Project America, Inc. N/A (27,500.00) -- -- (27,500.00)
Oceanic Ship Co. N/A 1,701.33 -- -- 1,701.33
Project America Ship I, Inc. N/A 291,567.65 -- -- 291,567.65
Ocean Development Co. 01-10972 (24,185,738.20) -- -- (24,185,738.20)
Great Hawaiian Properties Corporation 01-10971 (66,513.26) -- -- (66,513.26)
----------------------------------------------------------------
(10,099,823.87) 1,454.50 8,779.63 (10,107,149.00)
================================================================
Great Pacific NW Cruise Line, L.L.C.
01-10977 (JCA)
Accounts Receivable Aging
As of July 31, 2002
Attachment 7
Not Applicable
COLUMBIA QUEEN
AP-STEAMER CHECKS
24-000-221300-00000
JULY-02
OUTSTANDING CHECKS:
1566 K Tinnin (American Express) 180.00
1611 Charles Saporiti 55.00
------
TOTAL PER G/L: 235.00
======
ATTACHMENT # 8
DEBTOR: GREAT PACIFIC NW CRUISE LINE, L.L.C. CASE NUMBER: 01-10977 (JCA)
PRELIMINARY MONTHLY OPERATING REPORT
AS OF JULY 31, 2002
AND
FOR THE MONTH THEN ENDED
ATTACHMENT 9
NOTES TO JULY 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.