UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
[x ] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the period ended September 30, 1998
-----------------------------------------------------------
[ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the transition period from to
-------------------- -------------------------
Commission File Number 333-54011
---------------------------------------------------------
ICON Income Fund Eight A L.P.
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 13-4006824
- --------------------------------------------------------------------------------
(State or other jurisdiction of (IRS Employer Identification Number)
incorporation or organization)
600 Mamaroneck Avenue, Harrison, New York 10528-1632
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip code)
(914) 698-0600
- --------------------------------------------------------------------------------
Registrant's telephone number, including area code
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.
[ x] Yes [ ] No
<PAGE>
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements
ICON Income Fund Eight A L.P.
(a Delaware Limited Partnership)
Balance Sheet
September 30, 1998
(Unaudited)
Assets
Cash $ 2,000
-----------
Total assets $ 2,000
===========
Partners' Equity
Commitments and Contingencies
Partners' equity
General Partner $ 1,000
Limited partner 1,000
-----------
Total partners' equity $ 2,000
===========
See accompanying notes to unaudited financial statements.
<PAGE>
ICON Income Fund Eight A L.P.
(A Delaware Limited Partnership)
Statement of Changes in Partners' Equity
For the Period from July 9, 1997 (date of inception)
to September 30, 1998
(Unaudited)
Limited General
Partner Partner Total
Initial partners' capital contribution - May 6, 1998 $1,000 $1,000 $2,000
------ ------ ------
Balance at September 30, 1998 ...................... $1,000 $1,000 $2,000
====== ====== ======
See accompanying notes to unaudited financial statements.
<PAGE>
ICON Income Fund Eight A L.P.
(A Delaware Limited Partnership)
Statement of Cash Flows
For the Period from July 9, 1997 (date of inception)
to September 30, 1998
(Unaudited)
Cash flows from financing activities:
Initial limited and General Partner capital contribuitons $2,000
------
Net cash provided by financing activities ............... 2,000
------
Net increase in cash ........................................ 2,000
Cash at beginning of period ................................. --
Cash at end of period ....................................... $2,000
======
See accompanying notes to unaudited financial statements.
<PAGE>
ICON Income Fund Eight A L.P.
(a Delaware Limited Partnership)
Notes to Unaudited Financial Statements
September 30, 1998
1. The Partnership
ICON Income Fund Eight A L.P. (the "Partnership"), was formed on July 9,
1997 as a Delaware Limited Partnership. The initial capitalization of the
Partnership was $2,000. The Partnership will continue until December 31, 2017,
unless terminated sooner. The Partnership conducted no business operations from
its inception through September 30, 1998. The Partnership began offering limited
partnership units on a "best efforts" basis to the general public on October 5,
1998 and as of October 13, 1998 subscriptions had been received, and held in
escrow, for 12,000 units at $100 per unit, or $1,200,000. The Partnership broke
escrow and commenced business operations on October 13, 1998. As of October 31,
1998 the Partnership raised $3,438,115 in equity. On October 30,1998 the
Partnership leased equipment with an initial cost of $931,031 to 1 lessee. With
the funds raised, the Partnership intends to acquire various types of equipment
and to lease such equipment to third parties and, to a lesser degree, to enter
into secured financing transactions. The General Partner of the Partnership is
ICON Capital Corp. (the "General Partner"), a Connecticut corporation. The
General Partner will acquire the assets and manage the business of the
Partnership.
2. Capital Contribution
The General Partner has made an initial capital contribution of $1,000,
and the original limited partner has made an initial capital contribution of
$1,000 to the Partnership.
3. Commitment and Contingencies
The Partnership has not applied for an advance ruling from the Internal
Revenue Service; however, in the opinion of counsel the Partnership will be
classified as a Partnership and not as an association taxable for U.S. Federal
income tax purposes. In the absence of a ruling, there cannot be assurance that
the Partnership will not constitute an association taxable as a corporation.
<PAGE>
ICON Income Fund Eight A L.P.
(a Delaware Limited Partnership
PART II - OTHER INFORMATION
Item 6 - Exhibits and Reports on Form 8-K
No reports on Form 8-K were filed by the Partnership during the quarter ended
September 30, 1998.
<PAGE>
ICON Income Fund Eight A L.P.
(a Delaware Limited Partnership)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
ICON Income Fund Eight A L.P.
File No. 333-54011(Registrant)
By its General Partner,
ICON Capital Corp.
November 16, 1998 /s/Gary N. Silverhardt
- ---------------------- -------------------------------------------
Date Gary N. Silverhardt
Senior Vice President and CFO
(Principal financial and account officer of
the General Partner of the Registrant)
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 5
<CIK> 1061134
<NAME> ICON Income Fund Eight A L.P.
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> SEP-30-1998
<CASH> 2,000
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> * 0
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 2,000
<CURRENT-LIABILITIES> ** 0
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 2,000
<TOTAL-LIABILITY-AND-EQUITY> 2,000
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 0
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 0
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
<FN>
* The Partnership has an unclassified balance sheet in its financial
statements due to the nature of its industry. A value of "0" was used for
current assets and liabilities.
** The Partnership has an unclassified balance sheet in its financial
statements due to the nature of its industry. A value of "0" was used for
current assets and liabilities.
</FN>
</TABLE>
