<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2000
OR
[ ] 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 0-27496
CRONOS GLOBAL INCOME FUND XVI, L.P.
(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C>
California 94-3230380
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
</TABLE>
One Front Street, 15th Floor, San Francisco, California 94111
(Address of principal executive offices) (Zip Code)
(415) 677-8990
(Registrant's telephone number, including area code)
Indicate by 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 [ ].
<PAGE> 2
CRONOS GLOBAL INCOME FUND XVI, L.P.
REPORT ON FORM 10-Q FOR THE QUARTERLY PERIOD
ENDED SEPTEMBER 30, 2000
TABLE OF CONTENTS
<TABLE>
<CAPTION>
PAGE
<S> <C>
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements
Condensed Balance Sheets (unaudited) - September 30, 2000 and December 31, 1999 4
Condensed Statements of Operations (unaudited) for the three and nine months ended
September 30, 2000 and 1999 5
Condensed Statements of Cash Flows (unaudited) for the nine months ended September 30, 2000 and 1999 6
Notes to Condensed Financial Statements (unaudited) 7
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 10
Item 3. Quantitative and Qualitative Disclosures About Market Risk 11
PART II - OTHER INFORMATION
Item 1. Legal Proceedings 12
Item 6. Exhibits and Reports on Form 8-K 13
</TABLE>
2
<PAGE> 3
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements
Presented herein are the Registrant's condensed balance sheets as of
September 30, 2000 and December 31, 1999, condensed statements of
operations for the three and nine months ended September 30, 2000 and
1999, and condensed statements of cash flows for the nine months ended
September 30, 2000 and 1999.
3
<PAGE> 4
CRONOS GLOBAL INCOME FUND XVI, L.P.
CONDENSED BALANCE SHEETS
(UNAUDITED)
<TABLE>
<CAPTION>
September 30, December 31,
2000 1999
------------ ------------
<S> <C> <C>
Assets
Current assets:
Cash and cash equivalents, includes $1,609,837 at September 30, 2000 and
$1,987,785 at December 31, 1999 in interest-bearing accounts $ 1,657,540 $ 1,987,885
Net lease receivables due from Leasing Company
(Notes 1 and 2) 217,794 513,262
------------ ------------
Total current assets 1,875,334 2,501,147
------------ ------------
Container rental equipment, at cost 31,646,180 26,618,929
Less accumulated depreciation 6,864,669 5,542,131
------------ ------------
Net container rental equipment 24,781,511 21,076,798
------------ ------------
Other assets 857,136 50,000
------------ ------------
Total assets $ 27,513,981 $ 23,627,945
============ ============
Liabilities and partners' capital
Current liabilities-Current portion of equipment debt $ 840,600 $ --
Equipment debt - long term 3,992,850 --
------------ ------------
Total liabilities 4,833,450 --
------------ ------------
Partners' capital (deficit):
General partner (22,160) (12,730)
Limited partners 22,702,691 23,640,675
------------ ------------
Total partners' capital 22,680,531 23,627,945
------------ ------------
Total liabilities and partners' capital $ 27,513,981 $ 23,627,945
============ ============
</TABLE>
The accompanying notes are an integral part of these
condensed financial statements.
4
<PAGE> 5
CRONOS GLOBAL INCOME FUND XVI, L.P.
CONDENSED STATEMENTS OF OPERATIONS
(UNAUDITED)
<TABLE>
<CAPTION>
Three Months Ended Nine Months Ended
----------------------------- -----------------------------
September 30, September 30, September 30, September 30,
2000 1999 2000 1999
----------- ----------- ----------- -----------
<S> <C> <C> <C> <C>
Net lease revenue (Notes 1 and 3) $ 829,493 $ 682,756 $ 2,618,985 $ 2,017,258
Other operating expenses:
Depreciation 467,221 401,944 1,343,915 1,207,148
Other general and administrative expenses 15,236 10,728 59,574 35,551
----------- ----------- ----------- -----------
482,457 412,672 1,403,489 1,242,699
----------- ----------- ----------- -----------
Income from operations 347,036 270,084 1,215,496 774,559
Other income (loss):
Interest income 17,724 24,353 59,125 65,383
Net gain (loss) on disposal of equipment (3,985) 1,431 (4,473) 5,384
Interest expense (108,460) -- (196,929) --
----------- ----------- ----------- -----------
(94,721) 25,784 (142,277) 70,767
----------- ----------- ----------- -----------
Net income $ 252,315 $ 295,868 $ 1,073,219 $ 845,326
=========== =========== =========== ===========
Allocation of net income:
General partner $ 29,504 $ 30,890 $ 91,601 $ 90,813
Limited partners 222,811 264,978 981,618 754,513
----------- ----------- ----------- -----------
$ 252,315 $ 295,868 $ 1,073,219 $ 845,326
=========== =========== =========== ===========
Limited partners' per unit share of net income $ 0.14 $ 0.16 $ 0.61 $ 0.47
=========== =========== =========== ===========
</TABLE>
The accompanying notes are an integral part of these
condensed financial statements.
5
<PAGE> 6
CRONOS GLOBAL INCOME FUND XVI, L.P.
CONDENSED STATEMENTS OF CASH FLOWS
(UNAUDITED)
<TABLE>
<CAPTION>
Nine Months Ended
-----------------------------
September 30, September 30,
2000 1999
----------- -----------
<S> <C> <C>
Net cash provided by operating activities $ 1,915,533 $ 2,195,576
Cash from investing activities:
Proceeds from disposal of equipment 46,119 48,190
Purchase of container rental equipment (58,300) --
Acquisition fees paid to general partner (2,915) --
----------- -----------
Net cash provided by (used in) investing activities (15,096) 48,190
----------- -----------
Cash from financing activities:
Distribution to Partners (2,020,632) (1,909,073)
Payments of long term debt (210,150) --
----------- -----------
Net cash used in financing activities (2,230,782) (1,909,073)
----------- -----------
Net increase (decrease) in cash and cash equivalents (330,345) 334,693
Cash and cash equivalents, beginning of period 1,987,885 1,843,812
----------- -----------
Cash and cash equivalents, end of period $ 1,657,540 $ 2,178,505
=========== ===========
Supplementary disclosure of cash flow information:
Cash paid during the period for interest $ 162,974 $ --
=========== ===========
</TABLE>
The accompanying notes are an integral part of these
condensed financial statements.
6
<PAGE> 7
CRONOS GLOBAL INCOME FUND XVI, L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)
(1) Summary of Significant Accounting Policies
(a) Nature of Operations
Cronos Global Income Fund XVI, L.P. (the "Partnership") is a
limited partnership organized under the laws of the State of
California on September 1, 1995, for the purpose of owning and
leasing marine cargo containers, special purpose containers and
container related equipment worldwide to ocean carriers. To this
extent, the Partnership's operations are subject to the
fluctuations of world economic and political conditions. Such
factors may affect the pattern and levels of world trade. The
Partnership believes that the profitability of, and risks
associated with, leases to foreign customers is generally the
same as those of leases to domestic customers. The Partnership's
leases generally require all payments to be made in United
States currency.
Cronos Capital Corp. ("CCC") is the general partner and, with
its affiliate Cronos Containers Limited (the "Leasing Company"),
manages the business of the Partnership. CCC and the Leasing
Company also manage the container leasing business for other
partnerships affiliated with the general partner. The
Partnership shall continue until December 31, 2015, unless
sooner terminated upon the occurrence of certain events.
The Partnership commenced operations on March 29, 1996, when the
minimum subscription proceeds of $2,000,000 were received from
over 100 subscribers (excluding from such count Pennsylvania
residents, the general partner, and all affiliates of the
general partner). On February 3, 1997, CCC suspended the offer
and sale of units in the Partnership. The offering terminated on
December 27, 1997, at which time 1,599,667 limited partnership
units had been purchased.
(b) Leasing Company and Leasing Agent Agreement
The Partnership has entered into a Leasing Agent Agreement
whereby the Leasing Company has the responsibility to manage the
leasing operations of all equipment owned by the Partnership.
Pursuant to the Agreement, the Leasing Company is responsible
for leasing, managing and re-leasing the Partnership's
containers to ocean carriers and has full discretion over which
ocean carriers, and suppliers of goods and services it may deal
with. The Leasing Agent Agreement permits the Leasing Company to
use the containers owned by the Partnership, together with other
containers owned or managed by the Leasing Company and its
affiliates, as part of a single fleet operated without regard to
ownership. Since the Leasing Agent Agreement meets the
definition of an operating lease in Statement of Financial
Accounting Standards (SFAS) No. 13, it is accounted for as a
lease under which the Partnership is lessor and the Leasing
Company is lessee.
The Leasing Agent Agreement generally provides that the Leasing
Company will make payments to the Partnership based upon rentals
collected from ocean carriers after deducting direct operating
expenses and management fees to CCC and the Leasing Company. The
Leasing Company leases containers to ocean carriers, generally
under operating leases which are either master leases or term
leases (mostly one to five years). Master leases do not specify
the exact number of containers to be leased or the term that
each container will remain on hire but allow the ocean carrier
to pick up and drop off containers at various locations; rentals
are based upon the number of containers used and the applicable
per-diem rate. Accordingly, rentals under master leases are all
variable and contingent upon the number of containers used. Most
containers are leased to ocean carriers under master leases;
leasing agreements with fixed payment terms are not material to
the financial statements. Since there are no material minimum
lease rentals, no disclosure of minimum lease rentals is
provided in these condensed financial statements.
(Continued)
7
<PAGE> 8
CRONOS GLOBAL INCOME FUND XVI, L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)
(c) Basis of Accounting
The Partnership utilizes the accrual method of accounting. Net
lease revenue is recorded by the Partnership in each period
based upon its leasing agent agreement with the Leasing Company.
Net lease revenue is generally dependent upon operating lease
rentals from operating lease agreements between the Leasing
Company and its various lessees, less direct operating expenses
and management fees due in respect of the containers specified
in each operating lease agreement.
(d) Financial Statement Presentation
These condensed financial statements have been prepared without
audit. Certain information and footnote disclosures normally
included in financial statements prepared in accordance with
accounting principles generally accepted in The United States of
America ("GAAP") have been omitted. It is suggested that these
condensed financial statements be read in conjunction with the
financial statements and accompanying notes in the Partnership's
latest annual report on Form 10-K.
The preparation of financial statements in conformity with GAAP
requires the Partnership to make estimates and assumptions that
affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenues
and expenses during the reported period. Actual results could
differ from those estimates.
The interim financial statements presented herewith reflect all
adjustments of a normal recurring nature which are, in the
opinion of management, necessary to a fair statement of the
financial condition and results of operations for the interim
periods presented. The results of operations for such interim
periods are not necessarily indicative of the results to be
expected for the full year.
(2) Net Lease Receivables Due from Leasing Company
Net lease receivables due from the Leasing Company are determined by
deducting direct operating payables and accrued expenses, base
management fees payable, and reimbursed administrative expenses payable
to CCC and its affiliates from the rental billings payable by the
Leasing Company to the Partnership under operating leases to ocean
carriers for the containers owned by the Partnership. Net lease
receivables at September 30, 2000 and December 31, 1999 were as follows:
<TABLE>
<CAPTION>
September 30, December 31,
2000 1999
------------- ------------
<S> <C> <C>
Gross lease receivables $907,807 $869,797
Less:
Direct operating payables and accrued expenses 330,427 223,001
Damage protection reserve 138,810 25,021
Base management fees payable 111,643 68,101
Reimbursed administrative expenses 54,373 16,942
Allowance for doubtful accounts 54,760 23,470
-------- --------
Net lease receivables $217,794 $513,262
======== ========
</TABLE>
(Continued)
8
<PAGE> 9
CRONOS GLOBAL INCOME FUND XVI, L.P.
NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)
(3) Net Lease Revenue
Net lease revenue is determined by deducting direct operating expenses,
base management fees and reimbursed administrative expenses to CCC and
its affiliates from the rental revenue billed by the Leasing Company
under operating leases to ocean carriers for the containers owned by the
Partnership. Net lease revenue for the three and nine-month periods
ended September 30, 2000 and 1999 was as follows:
<TABLE>
<CAPTION>
Three Months Ended Nine Months Ended
-------------------------- --------------------------
September 30, September 30, September 30, September 30,
2000 1999 2000 1999
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
Rental revenue $1,241,240 $ 922,747 $3,596,416 $2,817,899
Less:
Rental equipment operating expenses 281,781 137,369 572,712 472,608
Base management fees 85,261 63,769 240,216 195,085
Reimbursed administrative expenses 44,705 38,853 164,503 132,948
---------- ---------- ---------- ----------
$ 829,493 $ 682,756 $2,618,985 $2,017,258
========== ========== ========== ==========
</TABLE>
(4) Operating Segment
The Financial Accounting Standards Board has issued SFAS No. 131,
"Disclosures about Segments of an Enterprise and Related Information,"
which changes the way public business enterprises report financial and
descriptive information about reportable operating segments. An
operating segment is a component of an enterprise that engages in
business activities from which it may earn revenues and incur expenses,
whose operating results are regularly reviewed by the enterprise's chief
operating decision maker to make decisions about resources to be
allocated to the segment and assess its performance, and about which
separate financial information is available. Management operates the
Partnership's container fleet as a homogenous unit and has determined,
after considering the requirements of SFAS No. 131, that as such it has
a single reportable operating segment.
The Partnership derives its revenues from cargo marine containers. As of
September 30, 2000, the Partnership operated 4,498 twenty-foot, 1,492
forty-foot and 1,675 forty-foot high-cube dry cargo marine containers,
as well as 89 twenty-foot and 299 forty-foot refrigerated cargo
containers, and 52 twenty-four thousand-liter tanks. A summary of gross
lease revenue, by product, for the three and nine-month periods ended
September 30, 2000 and 1999 follows:
<TABLE>
<CAPTION>
Three Months Ended Nine Months Ended
-------------------------- --------------------------
September 30, September 30, September 30, September 30,
2000 1999 2000 1999
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
Dry cargo containers $ 843,285 $ 505,960 $2,417,154 $1,557,080
Refrigerated containers 362,374 376,772 1,062,605 1,131,991
Tank containers 35,581 40,015 116,657 128,828
---------- ---------- ---------- ----------
Total $1,241,240 $ 922,747 $3,596,416 $2,817,899
========== ========== ========== ==========
</TABLE>
Due to the Partnership's lack of information regarding the physical
location of its fleet of containers when on lease in the global shipping
trade, it is impracticable to provide the geographic area information
required by SFAS No. 131.
******
9
<PAGE> 10
Item 2. Management's Discussion and Analysis of Financial Condition and Results
of Operations
It is suggested that the following discussion be read in conjunction with the
Registrant's most recent annual report on Form 10-K.
1) Material changes in financial condition between September 30, 2000 and
December 31, 1999.
At September 30, 2000, the Registrant had $1,657,540 in cash and cash
equivalents, a decrease of $330,345 from the cash balances at December
31, 1999. At September 30, 2000, the Registrant had approximately
$155,000 in cash generated from equipment sales reserved as part of its
cash balances. Throughout the remainder of 2000, the Registrant expects
to use cash generated from equipment sales to purchase and replace
containers which have been lost or damaged beyond repair.
The Registrant's allowance for doubtful accounts increased from $23,470
at December 31, 1999 to $54,760 at September 30, 2000. This increase was
attributable to the delinquent account receivable balances of
approximately 13 lessees. The Leasing Company has either negotiated
specific payment terms with these lessees or is pursuing other
alternatives to collect the outstanding balances. In each instance, the
Registrant believes it has recorded appropriate allowance.
On March 30, 2000, the Registrant borrowed $3,305,600 under a term loan
for the purpose of acquiring additional equipment. The Registrant
borrowed an additional $1,011,000 on April 28, 2000 and an additional
$727,000 on May 31, 2000. The term loan was obtained from one lending
source allowing the Registrant to take advantage of equipment purchasing
opportunities pursuant to the Registrant's Partnership Agreement. The
loan, due to expire in the year 2006, is scheduled to be fully repaid in
twenty-four quarterly installments from leasing revenue received by the
Registrant.
The Registrant's cash distribution from operations for the third quarter
of 2000 was 8.0% (annualized) of the limited partners' original capital
contributions, unchanged from the second quarter of 2000. These
distributions are directly related to the Registrant's results from
operations and may fluctuate accordingly.
During the third quarter of 2000, growth in the volume of containerized
trade continued to improve. As a result, demand for leased equipment
strengthened in many locations, but most significantly throughout Asia.
With the growth in the volume of world trade, ocean carriers are
committing their capital to the purchase of additional containerships
and turning to leasing companies to supply them with the containers they
need to meet their growing freight requirements. The container leasing
market has rebounded and prospects have somewhat improved, but lease
rates have remained at generally the same low level as at the beginning
of this year. At the same time, inventories of idle equipment have been
reduced in Europe, but there has been no appreciable reduction in the
U.S. The strong U.S. economy continued to import more than it exported.
This imbalance has had the effect of further increasing idle container
inventories, particularly on the U.S. East Coast.
2) Material changes in the results of operations between the three and
nine-month periods ended September 30, 2000 and 1999.
Net lease revenue for the three and nine-month periods ended September
30, 2000 was $829,493 and $2,618,985, respectively, an increase of
approximately 21% and 30%, from the same respective three and nine-month
periods in the prior year. Gross rental revenue (a component of net
lease revenue) for the three and nine-month periods ended September 30,
2000 was $1,241,240 and $3,596,416, respectively, reflecting an increase
of 35% and 28%, from the same respective three and nine-month periods in
the prior year. This increase can be attributable to the rental revenue
earned on the Registrant's purchase of additional equipment. Dry cargo
container average per-diem rental rates for the three and nine-month
periods ended September 30, 2000 increased approximately 2% and declined
4%, respectively, when compared to the same three and nine-month periods
in the prior year. Refrigerated container average per-diem rental rates
for the three and nine-month periods ended September 30, 2000 decreased
approximately 3% and 4%, respectively, when compared to the same periods
in the prior year. Tank container average per-diem rental rates for the
three and nine-month periods ended September 30, 2000 decreased
approximately 13% and 14%, respectively, when compared to the same
periods in the prior year.
(Continued)
10
<PAGE> 11
The Registrant's average fleet size and utilization rates for the three
and nine-month periods ended September 30, 2000 and 1999 were as
follows:
<TABLE>
<CAPTION>
Three Months Ended Nine Months Ended
------------------------------- -----------------------------
September 30, September 30, September 30, September 30,
2000 1999 2000 1999
------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
Average fleet size (measured in
twenty-foot equivalent units (TEU))
Dry cargo containers 10,837 6,823 8,797 6,831
Refrigerated containers 687 688 687 688
Tank containers 52 52 52 52
Average Utilization
Dry cargo containers 86% 78% 84% 76%
Refrigerated containers 98% 99% 98% 99%
Tank containers 66% 71% 72% 74%
</TABLE>
Rental equipment operating expenses, as a percentage of the Registrant's
gross lease revenue, were 23% and 16%, respectively, during the three
and nine-month periods ended September 30, 2000, compared to 15% and
17%, respectively, during each of the three and nine-month periods ended
September 30, 1999. Contributing to these increases were costs
associated with the increased recording of damage protection and
doubtful accounts. Base management fees during the three and nine-month
periods ended September 30, 2000 increased 34% and 23%, respectively,
when compared to the same three and nine-month periods in the prior year
as a result of higher gross rental revenues.
The Registrant disposed of five twenty-foot and two forty-foot high-cube
dry cargo marine containers during the third quarter of 2000, as
compared to 19 twenty-foot, two forty-foot and three forty-foot
high-cube dry cargo marine containers during the third quarter of 1999.
The decision to repair or dispose of a container is made when it is
returned by a lessee. This decision is influenced by various factors
including the age, condition, suitability for continued leasing, as well
as the geographical location of the container when disposed. These
factors also influence the amount of sales proceeds received and the
related gain on container disposals.
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Not applicable.
11
<PAGE> 12
PART II - OTHER INFORMATION
Item 1. Legal Proceedings
On March 20, 2000, KM Investments, LLC, a California limited liability company
("KM") filed its complaint (the "Complaint") in the Superior Court for the
County of Los Angeles against CCC, as general partner of the Partnership,
alleging violation of the California Revised Limited Partnership Act, breach of
fiduciary duty, and unfair competition. KM claims to be an assignee of units of
limited partnership interests in the Partnership and six other California
limited partnerships (collectively, the "Cronos Partnerships") managed by CCC as
general partner. KM, which is in the business of making unregistered tender
offers for up to 4.9% of the outstanding interests in limited partnerships,
claims that CCC has wrongfully refused to provide KM with lists of the limited
partners of the Cronos Partnerships to enable KM to make unregistered tender
offers to the limited partners of the Cronos Partnerships.
KM asks for declaratory relief, damages according to proof, attorneys' fees,
costs, interest, a temporary restraining order and/or a preliminary injunction
barring CCC from giving limited partner lists to any other party before
delivering such lists to KM, punitive damages, and an order prohibiting CCC from
receiving reimbursement of its legal fees incurred in defending the action from
the Cronos Partnerships.
On April 24, 2000, CCC filed its demurrer to the Complaint and its motion to
strike those portions of the Complaint seeking punitive damages. By its
demurrer, CCC asserted that KM, as an assignee of units of the Cronos
Partnerships, is not entitled to review or receive a copy of the lists of the
limited partners of the Cronos Partnerships; that CCC has not breached any
fiduciary duty to KM; and that CCC has not engaged in unfair competition as
alleged by KM. CCC requested that the Court dismiss KM's Complaint.
On June 8, 2000, the Court heard CCC's demurrer, and sustained (i.e., granted)
it in its entirety, allowing KM thirty days to file an amended complaint. KM did
so on or about July 10, 2000, asserting the same causes of action as set forth
in its original complaint. On August 25, 2000, CCC filed its demurrer to KM's
First Amended Complaint and its motion to strike those portions of the First
Amended Complaint seeking punitive damages. On October 11, 2000, the Court heard
CCC's motions. It sustained CCC's demurrer to KM's fourth cause of action
seeking declaratory relief, but overruled (i.e., denied) CCC's demurrer to KM's
first three causes of action, on the ground that the evidence submitted by CCC
was not properly before the Court on CCC's demurrer to KM's First Amended
Complaint. At the same time, the Court granted CCC's motion to strike those
portions of KM's First Amended Complaint seeking punitive damages.
On October 20, 2000, CCC filed its answer to KM's First Amended Complaint,
denying the allegations thereof, denying that plaintiff is entitled to any
damages, and asserting various affirmative defenses. CCC believes that KM does
not have standing to inspect or receive lists of the limited partners of the
limited partnerships managed by CCC, and that CCC has meritorious defenses to
KM's First Amended Complaint.
12
<PAGE> 13
PART II - OTHER INFORMATION (CONTINUED)
Item 6. Exhibits and Reports on Form 8-K
(a) Exhibits
<TABLE>
<CAPTION>
Exhibit
No. Description Method of Filing
------- -------------------------------------------------------- ----------------
<S> <C> <C>
3(a) Limited Partnership Agreement of the Registrant, amended *
and restated as of December 28, 1995
3(b) Certificate of Limited Partnership of the Registrant **
10 Form of Leasing Agent Agreement with Cronos Containers ***
Limited
</TABLE>
(b) Reports on Form 8-K
No reports on Form 8-K were filed by the Registrant during the quarter
ended September 30, 2000.
----------
* Incorporated by reference to Exhibit "A" to the Prospectus of the
Registrant dated December 28, 1995, included as part of Registration
Statement on Form S-1 (No. 33-98290)
** Incorporated by reference to Exhibit 3.2 to the Registration Statement
on Form S-1 (No. 33-98290)
*** Incorporated by reference to Exhibit 10.2 to the Registration Statement
on Form S-1 (No. 33-98290)
13
<PAGE> 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.
CRONOS GLOBAL INCOME FUND XVI, L.P.
By Cronos Capital Corp.
The General Partner
By /s/ Dennis J. Tietz
------------------------
Dennis J. Tietz
President and Director of
Cronos Capital Corp. ("CCC")
Principal Executive Officer of CCC
Date: November 14, 2000
14
<PAGE> 15
EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit
No. Description Method of Filing
------- -------------------------------------------------------- ----------------
<S> <C> <C>
3(a) Limited Partnership Agreement of the Registrant, amended *
and restated as of December 28, 1995
3(b) Certificate of Limited Partnership of the Registrant **
10 Form of Leasing Agent Agreement with Cronos Containers ***
Limited
</TABLE>
----------
* Incorporated by reference to Exhibit "A" to the Prospectus of the
Registrant dated December 28, 1995, included as part of Registration
Statement on Form S-1 (No. 33-98290)
** Incorporated by reference to Exhibit 3.2 to the Registration Statement
on Form S-1 (No. 33-98290)
*** Incorporated by reference to Exhibit 10.2 to the Registration Statement
on Form S-1 (No. 33-98290)
