EXHIBIT 99.1
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
ALL SEASONS PROPERTIES, INC. ss. Chapter 11
Debtor ss. CASE NO. 00-5-6934-JS
ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
---------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
---------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION SEE
SCHEDULE ATTACHED.
---------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
---------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information None
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
---------------------------------------------------
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: None
7. POST-PETITION ACCOUNTS RECEIVABLE: None
8. POST-PETITION ACCOUNTS PAYABLE: None
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 1
<PAGE>
ALL SEASONS PROPERTIES, INC CASE NO. 00-5-6934-JS
9. TAXES. Are all taxes being paid to the proper taxing
authorities when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess
the debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
OR: consent to relief from the automatic stay (Sec. 362)?
Yes X No
If yes, explain:
----------------------------------------------
(b) Maintain such stock, inventory, raw materials, insurance,
employees and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
-----------------------------------------------
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the
period of this report other than as set forth herein
(including sales by creditors)?
Yes X No
If yes, explain:
If yes, a copy of the court order authorizing the referenced
action MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: NONE
16. PAYMENTS TO PROFESSIONALS: NONE
17 QUARTERLY U.S. TRUSTEE FEES PAID DURING REPORTING PERIOD: NONE
VERIFICATION
I declare under penalty of perjury that the
information contained in this Monthly Operating Report
(including Schedules) is true and correct to the best of my
knowledge, information and belief.
Dated: DEBTOR IN POSSESSION
Name/Title DAVID E. HAWTHORNE, VICE PRESIDENT By DAVID E. HAWTHORNE
ADDRESS: 6177 S LAKE ELLENOR DR. ------------------
TELEPHONE: ORLANDO, FL 32809
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
ALL SEASONS PROPERTIES, INC. CASE NO. 00-5-6934-JS
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
ALL SEASONS REALTY, INC. ss. Chapter 11
Debtor ss. CASE NO. 00-5-6935-JS
ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION SEE
SCHEDULE ATTACHED.
--------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
--------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: NONE
7. POST-PETITION ACCOUNTS RECEIVABLE: NONE
8. POST-PETITION ACCOUNTS PAYABLE: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 1
<PAGE>
ALL SEASONS REALTY, INC. CASE NO. 00-5-6935-JS
9. TAXES. Are all taxes being paid to the proper taxing authorities
when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
-------------------------------------------
OR: consent to relief from the automatic stay (Sec. 362)?
Yes X No
If yes, explain:
(b) Maintain such stock, inventory, raw materials, insurance,
employee and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
--------------------------------------------
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the period of
this report other than as set forth herein (including sales by
creditors)?
Yes X No
If yes, explain:
------------------------------------
If yes, a copy of the court order authorizing the referenced
action
MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: None
16. PAYMENTS TO PROFESSIONALS: None
17. QUARTERLY U.S. TRUSTEE FEES paid during Reporting Period: None
VERIFICATION
I declare under penalty of perjury that the
information contained in this Monthly Operating Report
(including Schedules) is true and correct to the best of my
knowledge, information and belief.
Dated: DEBTOR IN POSSESSION
Name/Title David E. Hawthorne By: /s/ DAVID E. HAWTHORNE
----------------------
Address: 6177 S Lake Ellenor Dr.
Telephone: Orlando, FL 32809
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
No assets or liabilities except as Guarantor or Co-Debtor.
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
ARGOSY GRAND BEACH, INC ss. Chapter 11
Debtor ss. CASE NO. 00-5-6938-JS
ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION SEE
SCHEDULE ATTACHED.
--------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
--------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
-----------------------------------------
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: NONE
7. POST-PETITION ACCOUNTS RECEIVABLE: NONE
8. POST-PETITION ACCOUNTS PAYABLE: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 1
<PAGE>
ARGOSY GRAND BEACH, INC. CASE NO. 00-5-6938-JS
9. TAXES. Are all taxes being paid to the proper taxing authorities
when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
OR: consent to relief from the automatic stay (Sec. 362)?
Yes X No
If yes, explain:
(b) Maintain such stock, inventory, raw materials, insurance,
employee and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the period of
this report other than as set forth herein (including sales by
creditors)?
Yes X No
If yes, explain:
If yes, a copy of the court order authorizing the referenced
action
MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: None
16. PAYMENTS TO PROFESSIONALS: None
17. QUARTERLY U.S. TRUSTEE FEES paid during Reporting Period: None
VERIFICATION
I declare under penalty of perjury that the
information contained in this Monthly Operating Report
(including Schedules) is true and correct to the best of my
knowledge, information and belief.
Dated: DEBTOR IN POSSESSION
Name/Title David E. Hawthorne By: /s/ DAVID E. HAWTHORNE
----------------------
Address: 6177 S Lake Ellenor Dr.
Telephone: Orlando, FL 32809
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
No assets or liabilities except as Guarantor or Co-Debtor.
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
ARGOSY HILTON HEAD INC. ss. Chapter 11
Debtor ss. CASE NO. 00-5-6939-JS
ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION SEE
SCHEDULE ATTACHED.
--------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
--------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: NONE
7. POST-PETITION ACCOUNTS RECEIVABLE: NONE
8. POST-PETITION ACCOUNTS PAYABLE: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
ARGOSY HILTON HEAD, INC. CASE NO. 00-5-6939-JS
9. TAXES. Are all taxes being paid to the proper taxing authorities
when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
OR: consent to relief from the automatic stay (Sec. 362)?
Yes X No
If yes, explain:
(b) Maintain such stock, inventory, raw materials, insurance,
employee and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the period of
this report other than as set forth herein (including sales by
creditors)?
Yes X No
If yes, explain:
If yes, a copy of the court order authorizing the referenced
action
MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: NONE
16. PAYMENTS TO PROFESSIONALS: NONE
17. QUARTERLY U.S. TRUSTEE FEES PAID DURING REPORTING PERIOD: NONE
VERIFICATION
I declare under penalty of perjury that the
information contained in this Monthly Operating Report
(including Schedules) is true and correct to the best of my
knowledge, information and belief.
Dated: DEBTOR IN POSSESSION
Name/Title David E. Hawthorne By: /s/ DAVID E. HAWTHORNE
Address: 6177 S Lake Ellenor Dr. ----------------------
Telephone: Orlando, FL 32809
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
ARGOSY HILTON HEAD, INC. CASE NO. 00-5-6939-JS
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
No assets or liabilities except as Guarantor or Co-Debtor.
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
ARGOSY KGI Grand Beach Investment Partnership ss. Chapter 11
Debtor ss. CASE NO. 00-5-6940-JS
ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION SEE
SCHEDULE ATTACHED.
--------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
--------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
-------------------------------------------
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: NONE
7. POST-PETITION ACCOUNTS RECEIVABLE: NONE
8. POST-PETITION ACCOUNTS PAYABLE: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 1
<PAGE>
ARGOSY KGI GRAND BEACH INVESTMENT PARTNERSHIP CASE NO. 00-5-6940-JS
9. TAXES. Are all taxes being paid to the proper taxing authorities
when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
OR: consent to relief from the automatic stay (Sec. 362)?
Yes X No
If yes, explain:
(b) Maintain such stock, inventory, raw materials, insurance,
employee and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the period of
this report other than as set forth herein (including sales by
creditors)?
Yes X No
If yes, explain:
If yes, a copy of the court order authorizing the referenced
action
MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: NONE
16. PAYMENTS TO PROFESSIONALS: NONE
17. QUARTERLY U.S. TRUSTEE FEES PAID DURING REPORTING PERIOD: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
VERIFICATION
I declare under penalty of perjury that the
information contained in this Monthly Operating Report
(including Schedules) is true and correct to the best of my
knowledge, information and belief.
Dated: 9/1/00
NAME/TITLE DAVID E. HAWTHORNE
ADDRESS: 6177 S LAKE ELLENOR DR.
TELEPHONE: ORLANDO, FL 32809
DEBTOR IN POSSESSION
By: ARGOSY/KGI GRAND BEACH INVESTMENT PARTNERSHIP
By: Argosy Grand Beach, Inc., a Georgia corporation
General Partner
By: /s/ DAVID E. HAWTHORNE
----------------------
David E. Hawthorne, Vice President
By: Argosy Partners, Inc., a Georgia corporation
Its: General Partner
By: /s/ DAVID E. HAWTHORNE
----------------------
David E. Hawthorne, Vice President
By: KGI Grand Beach, Inc., a California corporation
Its: Managing General Partner
By: /s/ DAVID E. HAWTHORNE
----------------------
David E. Hawthorne, Vice President
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
ARGOSY KGI BEACH INVESTMENT PARTNERSHIP CASE NO. 00-5-6940-JS
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
No assets or liabilities except as Guarantor or Co-Debtor.
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 4
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
ARGOSY KGI Port Royal Partners ss. Chapter 11
Debtor ss. CASE NO. 00-5-6941-JS
ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION
SEE SCHEDULE ATTACHED.
--------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
--------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: NONE
7. POST-PETITION ACCOUNTS RECEIVABLE: NONE
8. POST-PETITION ACCOUNTS PAYABLE: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 1
<PAGE>
ARGOSY KGI PORT ROYAL PARTNERS CASE NO. 00-5-6941-JS
9. TAXES. Are all taxes being paid to the proper taxing authorities
when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
OR: consent to relief from the automatic stay (Sec. 362)?
Yes X No
If yes, explain:
(b) Maintain such stock, inventory, raw materials, insurance,
employees and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the period of
this report other than as set forth herein (including sales by
creditors)?
Yes X No
If yes, explain:
If yes, a copy of the court order authorizing the referenced
action MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: NONE
16. PAYMENTS TO PROFESSIONALS: NONE
17. QUARTERLY U.S. TRUSTEE FEES Paid During Reporting Period: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
ARGOSY KGI PORT ROYAL PARTNERS CASE NO. 00-5-6941-JS
VERIFICATION
I declare under penalty of perjury that the
information contained in this Monthly Operating Report
(including Schedules) is true and correct to the best of my
knowledge, information and belief.
Dated: 9/1/00
NAME/TITLE DAVID E. HAWTHORNE
ADDRESS: 6177 S LAKE ELLENOR DR.
TELEPHONE: ORLANDO, FL 32809
DEBTOR IN POSSESSION
Argosy/KGI Port Royal Partners, a South Carolina general partnership
By: KGI Port Royal Inc., a South Carolina corporation
By: /s/ DAVID E. HAWTHORNE
----------------------------------
David E. Hawthorne, Vice President
Its: Vice President
By: Argosy Hilton Head, Inc., a South Carolina corporation
By: /s/ DAVID E. HAWTHORNE
-------------------------------
David Hawthorne, Vice President
Its: Vice President
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
ARGOSY KGI PORT ROAL PARTNERS CASE NO. 00-5-6941-JS
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
No assets or liabilities except as Guarantor or Co-Debtor.
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 4
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
AKGI Lake Tahoe Investments Inc. ss. Chapter 11
Debtor ss. CASE NO. 00-5-6932-JS
ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION
SEE SCHEDULE ATTACHED.
--------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
--------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: NONE
7. POST-PETITION ACCOUNTS RECEIVABLE: NONE
8. POST-PETITION ACCOUNTS PAYABLE: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 1
<PAGE>
AKGI LAKE TAHOE INVESTMENTS INC. CASE NO. 00-5-6932-JS
9. TAXES. Are all taxes being paid to the proper taxing authorities
when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
OR: consent to relief from the automatic stay (Sec. 362)?
Yes X No
If yes, explain:
(b) Maintain such stock, inventory, raw materials, insurance,
employee and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the period of
this report other than as set forth herein (including sales by
creditors)?
Yes X No
If yes, explain:
If yes, a copy of the court order authorizing the referenced
action MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: NONE
16. PAYMENTS TO PROFESSIONALS: NONE
17. QUARTERLY U.S. TRUSTEE FEES PAID DURING REPORTING PERIOD: NONE
VERIFICATION
I declare under penalty of perjury that the
information contained in this Monthly Operating Report
(including Schedules) is true and correct to the best of my
knowledge, information and belief.
Dated: DEBTOR IN POSSESSION
Name/Title David E. Hawthorne By: /s/ DAVID E. HAWTHORNE
Address: 6177 S Lake Ellenor Dr. ----------------------
Telephone: Orlando, FL 32809
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
AKGI LAKE TAHOE INVESTMENT INC. CASE NO. 00-5-6932-JS
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
No assets or liabilities except as Guarantor or Co-Debtor.
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
ARGOSY Partners, Inc. ss. Chapter 11
Debtor ss. CASE NO. 00-5-6942-JS
ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION
SEE SCHEDULE ATTACHED.
--------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
--------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: NONE
7. POST-PETITION ACCOUNTS RECEIVABLE: NONE
8. POST-PETITION ACCOUNTS PAYABLE: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 1
<PAGE>
ARGOSY PARTNERS, INC. CASE NO. 00-5-6942-JS
9. TAXES. Are all taxes being paid to the proper taxing authorities
when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
OR: consent to relief from the autormatic stay (Sec. 362)?
Yes X No
If yes, explain:
(b) Maintain such stock, inventory, raw materials, insurance,
employees and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the period of
this report other than as set forth herein (including sales by
creditors)?
Yes X No
If yes, explain:
If yes, a copy of the court order authorizing the referenced
action MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: None
16. PAYMENTS TO PROFESSIONALS: None
17. QUARTERLY U.S. TRUSTEE FEES paid during Reporting Period: None
VERIFICATION
I declare under penalty of perjury that the
information contained in this Monthly Operating Report
(including Schedules) is true and correct to the best of my
knowledge, information and belief.
Dated: DEBTOR IN POSSESSION
Name/Title David E. Hawthorne By: /s/ DAVID E. HAWTHORNE
Address: 6177 S Lake Ellenor Dr. ----------------------
Telephone: Orlando, FL 32809
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
No assets or liabilities except as Guarantor or Co-Debtor.
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
AVCOM International, Inc. ss. Chapter 11
Debtor ss. CASE NO. 00-5-6943-JS
ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION
SEE SCHEDULE ATTACHED.
--------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
--------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: NONE
7. POST-PETITION ACCOUNTS RECEIVABLE: NONE
8. POST-PETITION ACCOUNTS PAYABLE: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 1
<PAGE>
AVCOM INTERNATIONAL, INC. CASE NO. 00-5-6943-JS
9. TAXES. Are all taxes being paid to the proper taxing authorities
when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
OR: consent to relief from the automatic stay (Sec. 362)?
Yes X No
If yes, explain:
(b) Maintain such stock, inventory, raw materials, insurance,
employees and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the period of
this report other than as set forth herein (including sales by
creditors)?
Yes X No
If yes, explain:
If yes, a copy of the court order authorizing the referenced
action MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: None
16. PAYMENTS TO PROFESSIONALS: None
17. QUARTERLY U.S. TRUSTEE FEES paid during Reporting Period: None
VERIFICATION
I declare under penalty of perjury that the
information contained in this Monthly Operating Report
(including Schedules) is true and correct to the best of my
knowledge, information and belief.
Dated: DEBTOR IN POSSESSION
Name/Title David E. Hawthorne By: /s/ DAVID E. HAWTHORNE
Address: 6177 S Lake Ellenor Dr. ----------------------
Telephone: Orlando, FL 32809
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
AVCOM INTERNATIONAL, INC. CASE NO. 00-5-6943-JS
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
No assets or liabilities except as Guarantor or Co-Debtor.
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
Grand Beach Partners, LP ss. Chapter 11
Debtor ss. CASE NO. 00-5-6944-JS
ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION
SEE SCHEDULE ATTACHED.
--------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
--------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: NONE
7. POST-PETITION ACCOUNTS RECEIVABLE: NONE
8. POST-PETITION ACCOUNTS PAYABLE: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 1
<PAGE>
Grand Beach Partners, LP. CASE NO. 00-5-6944-JS
9. TAXES. Are all taxes being paid to the proper taxing authorities
when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
OR: consent to relief from the automatic stay (Sec. 362)?
Yes X No
If yes, explain:
(b) Maintain such stock, inventory, raw materials, insurance,
employee and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the period of
this report other than as set forth herein (including sales by
creditors)?
Yes X No
If yes, explain:
If yes, a copy of the court order authorizing the referenced
action MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: NONE
16. PAYMENTS TO PROFESSIONALS: NONE
17. QUARTERLY U.S. TRUSTEE FEES Paid During Reporting Period: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
VERIFICATION
I declare under penalty of perjury that the
information contained in this Monthly Operating Report
including Schedules) is true and correct to the best of my
nowledge, information and belief.
Dated: 9/1/00
Name/Title DAVID E. HAWTHORNE
Address: 6177 S LAKE ELLENOR DR.
Telephone: ORLANDO, FL 32809
DEBTOR IN POSSESSION
By: GRAND BEACH PARTNERS, LP
By: ARGOSY/KGI GRAND BEACH INVESTMENT PARTNERSHIP
Its general partner
BY: Argosy Grand Beach, Inc., a Georgia Corporation
Its: General Partner
By: /s/ DAVID E. HAWTHORNE
--------------------------------------
By: David E. Hawthorne, Vice President
By: Argosy Partners, Inc., a Georgia corporation
Its: General Partner
By: /s/ DAVID E. HAWTHORNE
--------------------------------------
By: David E. Hawthorne, Vice President
By: KGI Grand Beach Inc., a California Corporation
Its: Managing General Partner
By: David E. Hawthorne, Vice President
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
GRAND BEACH PARTNERS, LP CASE NO. 00-5-6944-JS
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
No assets or liabilities except as Guarantor or Co-Debtor.
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 4
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
Greensprings Plantation Resorts, Inc. ss. Chapter 11
Debtor ss. CASE NO. 00-5-6947-JS
ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION
SEE SCHEDULE ATTACHED.
--------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
--------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: NONE
7. POST-PETITION ACCOUNTS RECEIVABLE: NONE
8. POST-PETITION ACCOUNTS PAYABLE: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 1
<PAGE>
GREENSRPINGS PLANTATION RESORTS, INC. CASE NO. 00-5-6947-JS
9. TAXES. Are all taxes being paid to the proper taxing authorities
when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
OR: consent to relief from the automatic stay (Sec. 362)?
Yes X No
If yes, explain:
(b) Maintain such stock, inventory, raw materials, insurance,
employee and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the period of
this report other than as set forth herein (including sales by
creditors)?
Yes X No
If yes, explain:
If yes, a copy of the court order authorizing the referenced
action MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: None
16. PAYMENTS TO PROFESSIONALS: None
17. QUARTERLY U.S. TRUSTEE FEES paid during Reporting Period: None
VERIFICATION
I declare under penalty of perjury that the
information contained in this Monthly Operating Report
(including Schedules) is true and correct to the best of my
knowledge, information and belief.
Dated: DEBTOR IN POSSESSION
Name/Title David E. Hawthorne By: /s/ DAVID E. HAWTHORNE
Address: 6177 S Lake Ellenor Dr. ----------------------
Telephone: Orlando, FL 32809
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
GREENSPRINGS PLANTATION RESORTS, INC. CASE NO. 00-5-6947-JS
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
No assets or liabilities except as Guarantor or Co-Debtor.
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
KGI Grand Beach Investments, Inc. ss. Chapter 11
Debtor ss. CASE NO. 00-5-6949-JS
ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION
SEE SCHEDULE ATTACHED.
--------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
--------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: NONE
7. POST-PETITION ACCOUNTS RECEIVABLE: NONE
8. POST-PETITION ACCOUNTS PAYABLE: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 1
<PAGE>
KGI GRAND BEACH INVESTMENTS, INC. CASE NO. 00-5-6949-JS
9. TAXES. Are all taxes being paid to the proper taxing authorities
when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
OR: consent to relief from the automatic stay (Sec. 362)?
Yes X No
If yes, explain:
(b) Maintain such stock, inventory, raw materials, insurance,
employees and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the period of
this report other than as set forth herein (including sales by
creditors)?
Yes X No
If yes, explain:
If yes, a copy of the court order authorizing the referenced
action MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: None
16. PAYMENTS TO PROFESSIONALS: None
17. QUARTERLY U.S. TRUSTEE FEES paid during Reporting Period: None
VERIFICATION
I declare under penalty of perjury that the
information contained in this Monthly Operating Report
(including Schedules) is true and correct to the best of my
knowledge, information and belief.
Dated: DEBTOR IN POSSESSION
Name/Title David E. Hawthorne By: /s/ DAVID E. HAWTHORNE
Address: 6177 S Lake Ellenor Dr. ----------------------
Telephone: Orlando, FL 32809
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
KGI GRAND BEACH INVESTMENTS, INC. CASE NO. 00-5-6949-JS
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
No assets or liabilities except as Guarantor or Co-Debtor.
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
KGI Port Royal, Inc. ss. Chapter 11
Debtor ss. CASE NO. 00-5-6950-JS
ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION
SEE SCHEDULE ATTACHED.
--------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
--------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: NONE
7. POST-PETITION ACCOUNTS RECEIVABLE: NONE
8. POST-PETITION ACCOUNTS PAYABLE: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 1
<PAGE>
KGI PORT ROYAL, INC. CASE NO. 00-5-6950-JS
9. TAXES. Are all taxes being paid to the proper taxing authorities
when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
OR: consent to relief from the automatic stay (Sec. 362)?
Yes X No
If yes, explain:
(b) Maintain such stock, inventory, raw materials, insurance,
employees and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the period of
this report other than as set forth herein (including sales by
creditors)?
Yes X No
If yes, explain:
If yes, a copy of the court order authorizing the referenced
action MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: None
16. PAYMENTS TO PROFESSIONALS: None
17. QUARTERLY U.S. TRUSTEE FEES paid during Reporting Period: None
VERIFICATION
I declare under penalty of perjury that the
information contained in this Monthly Operating Report
(including Schedules) is true and correct to the best of my
knowledge, information and belief.
Dated: DEBTOR IN POSSESSION
Name/Title David E. Hawthorne By: /s/ DAVID E. HAWTHORNE
Address: 6177 S Lake Ellenor Dr. ----------------------
Telephone: Orlando, FL 32809
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
KGK PORT ROYAL, INC. CASE NO. 00-5-6950-JS
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
No assets or liabilities except as Guarantor or Co-Debtor.
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
KGI Lake Tahoe Development, Inc. ss. Chapter 11
Debtor ss. CASE NO. 00-5-6951-JS
ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION
SEE SCHEDULE ATTACHED.
--------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
--------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: NONE
7. POST-PETITION ACCOUNTS RECEIVABLE: NONE
8. POST-PETITION ACCOUNTS PAYABLE: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 1
<PAGE>
KGK LAKE TAHOE DEVELOPMENT, INC. CASE NO. 00-5-6951-JS
9. TAXES. Are all taxes being paid to the proper taxing authorities
when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
OR: consent to relief from the automatic stay (Sec. 362)?
Yes X No
If yes, explain:
(b) Maintain such stock, inventory, raw materials, insurance,
employees and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the period of
this report other than as set forth herein (including sales by
creditors)?
Yes X No
If yes, explain:
If yes, a copy of the court order authorizing the referenced
action
MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: None
16. PAYMENTS TO PROFESSIONALS: None
17. QUARTERLY U.S. TRUSTEE FEES paid during Reporting Period: None
VERIFICATION
I declare under penalty of perjury that the
information contained in this Monthly Operating Report
(including Schedules) is true and correct to the best of my
knowledge, information and belief.
Dated: DEBTOR IN POSSESSION
Name/Title David E. Hawthorne By: /s/ DAVID E. HAWTHORNE
Address: 6177 S Lake Ellenor Dr. ----------------------
Telephone: Orlando, FL 32809
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
KGK LAKE TAHOE DEVELOPMENT, INC. CASE NO. 00-5-6951-JS
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
No assets or liabilities except as Guarantor or Co-Debtor.
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
Lakewood Development, Inc. ss. Chapter 11
Debtor ss. CASE NO. 00-5-6953-JS
ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION SEE
SCHEDULE ATTACHED.
--------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
--------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: NONE
7. POST-PETITION ACCOUNTS RECEIVABLE: NONE
8. POST-PETITION ACCOUNTS PAYABLE: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 1
<PAGE>
LAKEWOOD DEVELOPMENT, INC. CASE NO. 00-5-6953-JS
9. TAXES. Are all taxes being paid to the proper taxing authorities
when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
OR: consent to relief from the automatic stay (Sec. 362)?
Yes X No
If yes, explain:
(b) Maintain such stock, inventory, raw materials, insurance,
employees and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the period of
this report other than as set forth herein (including sales by
creditors)?
Yes X No
If yes, explain:
If yes, a copy of the court order authorizing the referenced
action
MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: None
16. PAYMENTS TO PROFESSIONALS: None
17. QUARTERLY U.S. TRUSTEE FEES paid during Reporting Period: None
VERIFICATION
I declare under penalty of perjury that the
information contained in this Monthly Operating Report
(including Schedules) is true and correct to the best of my
knowledge, information and belief.
Dated: DEBTOR IN POSSESSION
Name/Title David E. Hawthorne By: /s/ DAVID E. HAWTHORNE
Address: 6177 S Lake Ellenor Dr. ----------------------
Telephone: Orlando, FL 32809
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
LAKEWOOD DEVELOPMENT, INC. CASE NO. 00-5-6953-JS
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
No assets or liabilities except as Guarantor or Co-Debtor.
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
Plantation Resorts Group, Inc. ss. Chapter 11
Debtor ss. CASE NO. 00-5-6955-JS
ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION
SEE SCHEDULE ATTACHED.
--------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
--------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: NONE
7. POST-PETITION ACCOUNTS RECEIVABLE: NONE
8. POST-PETITION ACCOUNTS PAYABLE: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 1
<PAGE>
PLANTATION RESORTS GROUP, INC. CASE NO. 00-5-6955-JS
9. TAXES. Are all taxes being paid to the proper taxing authorities
when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
OR: consent to relief from the automatic stay (Sec. 362)?
Yes X No
If yes, explain:
(b) Maintain such stock, inventory, raw materials, insurance,
employees and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the period of
this report other than as set forth herein (including sales by
creditors)?
Yes X No
If yes, explain:
If yes, a copy of the court order authorizing the referenced
action MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: None
16. PAYMENTS TO PROFESSIONALS: None
17. QUARTERLY U.S. TRUSTEE FEES paid during Reporting Period: None
VERIFICATION
I declare under penalty of perjury that the
information contained in this Monthly Operating Report
(including Schedules) is true and correct to the best of my
knowledge, information and belief.
Dated: DEBTOR IN POSSESSION
Name/Title David E. Hawthorne By: /s/ DAVID E. HAWTHORNE
Address: 6177 S Lake Ellenor Dr. ----------------------
Telephone: Orlando, FL 32809
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
PLANTATION RESORTS GROUP, INC. CASE NO. 00-5-6955-JS
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
No assets or liabilities except as Guarantor or Co-Debtor.
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
Pointe Partners, Limited Partnership ss. Chapter 11
Debtor ss. CASE NO. 00-5-6956-JS
ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION
SEE SCHEDULE ATTACHED.
--------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
--------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: NONE
7. POST-PETITION ACCOUNTS RECEIVABLE: NONE
8. POST-PETITION ACCOUNTS PAYABLE: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 1
<PAGE>
POINTE PARTNERS, LIMITED PARTNERSHIP CASE NO. 00-5-6956-JS
9. TAXES. Are all taxes being paid to the proper taxing authorities
when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
OR: consent to relief from the automatic stay (Sec. 362)?
Yes X No
If yes, explain:
(b) Maintain such stock, inventory, raw materials, insurance,
employees and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the period of
this report other than as set forth herein (including sales by
creditors)?
Yes X No
If yes, explain:
If yes, a copy of the court order authorizing the referenced
action
MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: None
16. PAYMENTS TO PROFESSIONALS: None
17. QUARTERLY U.S. TRUSTEE FEES paid during Reporting Period: None
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
POINTE PARTNERS, LIMITED PARTNERSHIP CASE No. 00-5-6596-JS
VERIFICATION
I declare under penalty of perjury that the information contained in
this Monthly Operating Report (including Schedules) is true and correct to the
best of my knowledge, information and belief.
Dated: 9/1/00
Name/Title: DAVID E. HAWTHORNE
Address: 6177 S LAKE ELLENOR DR.
Telephone: ORLANDO, FL 32809
DEBTOR IN POSSESSION
By: Harich Tahoe Developments, a Nevada general partnerhsip
By: Lakewood Development, Inc. a Nevada Corporation
By: /s/ DAVID E. HAWTHORNE
--------------------------------------------
David E. Hawthorne, Vice President
By: Ridgewood Development, Inc., a Nevada corporation
By: /s/ DAVID E. HAWTHORNE
--------------------------------------------
David E. Hawthorne, Vice President
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
POINTE PARTNERS, LIMITED PARTNERSHIP CASE NO. 00-5-6956-JS
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
No assets or liabilities except as Guarantor or Co-Debtor.
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 4
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
Premier Vacations Inc. ss. Chapter 11
Debtor ss. CASE NO. 00-5-6959-JS
ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION
SEE SCHEDULE ATTACHED.
--------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
--------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: NONE
7. POST-PETITION ACCOUNTS RECEIVABLE: NONE
8. POST-PETITION ACCOUNTS PAYABLE: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 1
<PAGE>
PREMIER VACATIONS INC. CASE NO. 00-5-6959-JS
9. TAXES. Are all taxes being paid to the proper taxing authorities
when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
OR: consent to relief from the automatic stay (Sec. 362)?
Yes X No
If yes, explain:
(b) Maintain such stock, inventory, raw materials, insurance,
employees and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the period of
this report other than as set forth herein (including sales by
creditors)?
Yes X No
If yes, explain:
If yes, a copy of the court order authorizing the referenced
action MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: None
16. PAYMENTS TO PROFESSIONALS: None
17. QUARTERLY U.S. TRUSTEE FEES paid during Reporting Period: None
VERIFICATION
I declare under penalty of perjury that the
information contained in this Monthly Operating Report
(including Schedules) is true and correct to the best of my
knowledge, information and belief.
Dated: DEBTOR IN POSSESSION
Name/Title David E. Hawthorne By: /s/ DAVID E. HAWTHORNE
Address: 6177 S Lake Ellenor Dr. ----------------------
Telephone: Orlando, FL 32809
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
PREMIER VACATIONS INC. CASE NO. 00-5-6959-JS
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
No assets or liabilities except as Guarantor or Co-Debtor.
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
Resort Connections, Inc. ss. Chapter 11
ss. CASE NO. 00-5-6960-JS
Debtor ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION
SEE SCHEDULE ATTACHED.
--------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
--------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: NONE
7. POST-PETITION ACCOUNTS RECEIVABLE: NONE
8. POST-PETITION ACCOUNTS PAYABLE: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 1
<PAGE>
RESORT CONNECTIONS, INC. CASE NO. 00-5-6960-JS
9. TAXES. Are all taxes being paid to the proper taxing authorities
when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
OR: consent to relief from the automatic stay (Sec. 362)?
Yes X No
If yes, explain:
(b) Maintain such stock, inventory, raw materials, insurance,
employeeS and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the period of
this report other than as set forth herein (including sales by
creditors)?
Yes X No
If yes, explain:
If yes, a copy of the court order authorizing the referenced
action MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: None
16. PAYMENTS TO PROFESSIONALS: None
17. QUARTERLY U.S. TRUSTEE FEES paid during Reporting Period: None
VERIFICATION
I declare under penalty of perjury that the
information contained in this Monthly Operating Report
(including Schedules) is true and correct to the best of my
knowledge, information and belief.
Dated: DEBTOR IN POSSESSION
Name/Title David E. Hawthorne By: /s/ DAVID E. HAWTHORNE
Address: 6177 S Lake Ellenor Dr. ----------------------
Telephone: Orlando, FL 32809
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
RESORT CONNECTIONS, INC. CASE NO. 00-5-6960-JS
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
No assets or liabilities except as Guarantor or Co-Debtor.
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
Ridgewood Development, Inc. ss. Chapter 11
ss. CASE NO. 00-5-6963-JS
Debtor ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION
SEE SCHEDULE ATTACHED.
--------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
--------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: NONE
7. POST-PETITION ACCOUNTS RECEIVABLE: NONE
8. POST-PETITION ACCOUNTS PAYABLE: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 1
<PAGE>
RIDGEWOOD DEVELOPMENT, INC. CASE NO. 00-5-6963-JS
9. TAXES. Are all taxes being paid to the proper taxing authorities
when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
OR: consent to relief from the automatic stay (Sec. 362)?
Yes X No
If yes, explain:
(b) Maintain such stock, inventory, raw materials, insurance,
employeeS and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the period of
this report other than as set forth herein (including sales by
creditors)?
Yes X No
If yes, explain:
If yes, a copy of the court order authorizing the referenced
action MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: None
16. PAYMENTS TO PROFESSIONALS: None
17. QUARTERLY U.S. TRUSTEE FEES paid during Reporting Period: None
VERIFICATION
I declare under penalty of perjury that the
information contained in this Monthly Operating Report
(including Schedules) is true and correct to the best of my
knowledge, information and belief.
Dated: DEBTOR IN POSSESSION
Name/Title David E. Hawthorne By: /s/ DAVID E. HAWTHORNE
Address: 6177 S Lake Ellenor Dr. ----------------------
Telephone: Orlando, FL 32809
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
RIDGEWOOD DEVELOPMENT, INC. CASE NO. 00-5-6963-JS
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
No assets or liabilities except as Guarantor or Co-Debtor.
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
RGK Inc. ss. Chapter 11
ss. CASE NO. 00-5-6964-JS
Debtor ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION
SEE SCHEDULE ATTACHED.
--------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
--------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: NONE
7. POST-PETITION ACCOUNTS RECEIVABLE: NONE
8. POST-PETITION ACCOUNTS PAYABLE: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 1
<PAGE>
RGK INC. CASE NO. 00-5-6964-JS
9. TAXES. Are all taxes being paid to the proper taxing authorities
when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
OR: consent to relief from the automatic stay (Sec. 362)?
Yes X No
If yes, explain:
(b) Maintain such stock, inventory, raw materials, insurance,
employeeS and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the period of
this report other than as set forth herein (including sales by
creditors)?
Yes X No
If yes, explain:
If yes, a copy of the court order authorizing the referenced
action MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: None
16. PAYMENTS TO PROFESSIONALS: None
17. QUARTERLY U.S. TRUSTEE FEES paid during Reporting Period: None
VERIFICATION
I declare under penalty of perjury that the
information contained in this Monthly Operating Report
(including Schedules) is true and correct to the best of my
knowledge, information and belief.
Dated: DEBTOR IN POSSESSION
Name/Title David E. Hawthorne By: /s/ DAVID E. HAWTHORNE
Address: 6177 S Lake Ellenor Dr. ----------------------
Telephone: Orlando, FL 32809
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
RGK INC. CASE NO. 00-5-6964-JS
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
No assets or liabilities except as Guarantor or Co-Debtor.
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
<PAGE>
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
IN RE: ss.
ss.
Williamsburg Vacations, Inc. ss. Chapter 11
ss. CASE NO. 00-5-6967-JS
Debtor ss.
Form 1 Deposit/Investment Account Report
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 2 Authorization for Release of Information
NO OPEN BANK ACCOUNTS
--------------------------------------------------------------------
Form 3 Insurance Report
POLICIES MAINTAINED BY PARENT SUNTERRA CORPORATION
SEE SCHEDULE ATTACHED.
--------------------------------------------------------------------
Form 4 Verification of Fiduciary's Federal Tax Deposit
DEBTOR HAS NO EMPLOYEES.
--------------------------------------------------------------------
Form 5 Financial Background Information
1. Accounting Basis Cash X Accrual
2. Preparer: Name ANN COHEN
Address 6177 LAKE ELLENOR DR.
ORLANDO, FL 32809
Telephone Number (407) 532-1239
Position V.P. ACCOUNTING
3. Employee Information NONE
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS or
STATUS OF OPERATIONS since the last reporting period?
Yes X No
If Yes, explain:
5. Are all BUSINESS LICENSE or BONDS current?
Yes No N/A X
6. PRE-PETITION ACCOUNTS RECEIVABLE: NONE
7. POST-PETITION ACCOUNTS RECEIVABLE: NONE
8. POST-PETITION ACCOUNTS PAYABLE: NONE
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 1
<PAGE>
WILLIAMSBURG VACATIONS, INC. CASE NO. 00-5-6967-JS
9. TAXES. Are all taxes being paid to the proper taxing authorities
when due?
X Yes No
10. BANK ACCOUNTS Have you changed banks or any other financial
institution during this period? Yes X No
11. Are all BOOKS & RECORDS of the debtor(s) being maintained monthly
and are all current? X Yes No
12. INSURANCE. Policy expiration dates: See Sunterra Corporation
13. ACTIONS OF DEBTOR. During the last month, did the Debtor:
(a) Fail to defend or oppose any action seeking to dispossess the
debtor from control or custody of any asset of the estate?
Yes X No
If yes, explain:
OR: consent to relief from the automatic stay (Sec. 362)?
Yes X No
If yes, explain:
(b) Maintain such stock, inventory, raw materials, insurance,
employees and other resources as are necessary to preserve and
maintain the going concern value of the assets of the debtor?
X Yes No
If no, explain:
14. TRANSFER OF SALE OF PROPERTY. Did the Debtor or any person
with control over any of Debtor's assets transfer, convey or
abandon ANY of Debtor's assets to another party during the period of
this report other than as set forth herein (including sales by
creditors)?
Yes X No
If yes, explain:
If yes, a copy of the court order authorizing the referenced
action MUST BE ATTACHED.
15. PAYMENTS TO SECURED CREDITORS during Reporting Period: None
16. PAYMENTS TO PROFESSIONALS: None
17. QUARTERLY U.S. TRUSTEE FEES paid during Reporting Period: None
VERIFICATION
I declare under penalty of perjury that the
information contained in this Monthly Operating Report
(including Schedules) is true and correct to the best of my
knowledge, information and belief.
Dated: DEBTOR IN POSSESSION
Name/Title David E. Hawthorne By: /s/ DAVID E. HAWTHORNE
Address: 6177 S Lake Ellenor Dr. ----------------------
Telephone: Orlando, FL 32809
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 2
<PAGE>
WILLIAMSBURG VACATIONS, INC. CASE NO. 00-5-6967-JS
Form 6 INCOME STATEMENT No Income or Expenses
No Accounts Receivable
No Accounts Payable
Form 8 CASH RECONCILIATION REPORT No Receipts or Disbursements
Form 9 CASH RECONCILIATION REPORT No Payroll or Tax Accounts
Form 10 BALANCE SHEET
Form 12 CASH DISBURSEMENT No Cash Disbursements
SUMMARY REPORT
No assets or liabilities except as Guarantor or Co-Debtor.
MONTHLY OPERATING REPORT SUMMARY JUNE 2000 PAGE 3
<PAGE>
ADDENDUM TO MONTHLY OPERATING REPORT
The Debtor has sought to report all information contained in this Monthly
Operating Report completely and accurately. The Debtor will review its records
and other information on an on-going basis to determine whether this Monthly
Operating Report should be supplemented or otherwise amended. The Debtor
reserves the right to file, at any time, such supplements or amendments to this
Monthly Operating Report as the Debtor deems appropriate. This Monthly Operating
Report should not be considered an admission regarding the Debtor's income,
expenditures or general financial condition, but rather the Debtor's current
compilation of such information based on its investigations to date. The Debtor
does not make, and specifically disclaims, any representation or warranty as to
the completeness or accuracy of the information set forth herein. All parties
are encouraged to inform the Debtor or its counsel should they believe any part
of this Monthly Operating Report to be inaccurate, incomplete or in need of
supplementation in any way.
