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, 1995
or
( ) Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934
For the transition period from to
Commission File No. O-9608
E & J PROPERTIES, LTD. (A California Limited Partnership)
(Exact name of registrant as specified in its charter)
California 94-2763152
(State of Organization)
(IRS Identification Number)
2710 Gateway Oaks Dr, 300 South, Sacramento, CA 95833
(Address of principal executive office) (Zip Code)
REGISTRANT'S TELEPHONE NUMBER,
INCLUDING AREA CODE: (916) 925-6620
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes X No
Number of units outstanding of issuer's limited partnership interests as of
September 30, 1995:
3,523,680 Units
There was very little trading activity for these units during the last three
months, however a price range of $1.75 to $2.25 is indicated.
PART I - FINANCIAL INFORMATION
E & J PROPERTIES, LTD.
(A California Limited Partnership)
Balance Sheets
September 30, 1995 and December 31, 1994
(Unaudited)
September 30, December 31,
1995 1994
Assets
Cash and cash equivalents $2,061,797 2,194,703
Elliott Ranch 2,632,695 2,530,342
Other assets 19,008 74,562
$4,713,500 4,799,607
========= =========
Liabilities and Partners' Equity
Liabilities:
Accrued expenses and other liabilities 26,645 34,288
Partners' equity:
Units of limited partnership
issued, 3,523,680 4,613,111 4,690,702
Units of general partnership
issued, 39,643 73,774 74,617
Total partners' equity 4,686,855 4,765,319
$4,713,500 4,799,607
========= =========
See accompanying note to financial statements.
E & J PROPERTIES, LTD.
(A California Limited Partnership)
(Unaudited)
Statements of Earnings
For the Nine Months For the Three Months
Ended September 30, Ended September 30,
1995 1994 1995 1994
Revenues:
Interest and rental income $ 93,682 67,933 29,047 22,582
Expenses:
Property taxes 24,799 25,033 8,400 8,450
Depreciation 4,300 4,300 1,433 1,433
General and administrative 143,047 145,792 40,433 44,023
172,146 175,125 50,266 53,906
Net earnings (loss) $( 78,464) (107,192) (21,219) (31,324)
========= ========= ========= =========
Net earnings (loss) per unit $ (0.02) (0.03) Nil (0.01)
========= ========= ========= =========
Units outstanding 3,563,323 3,563,323 3,563,323 3,563,323
========= ========= ========= =========
Statements of Cash Flow
For the Nine Months
Ended September 30,
1995 1994
Cash flows from operating activities:
Net earnings (loss) $ ( 78,464) (107,192)
Depreciation 4,300 4,300
Decrease in other assets 55,554 28,027
Decrease in liabilities (7,643) (16,293)
Net cash flow from operating activities (26,253) (91,158)
Cash expenditures for Elliott Ranch (106,653) (233,096)
Net decrease in cash and cash equivalents (132,906) (324,254)
Beginning cash and cash equivalents 2,194,703 2,700,589
Ending cash and cash equivalents $2,061,797 2,376,335
========= =========
E & J PROPERTIES, LTD.
(A California Limited Partnership)
Note to Financial Statements
(Unaudited)
In the opinion of the partnership, the accompanying unaudited financial
statements contain all adjustments (consisting only of normal recurring
accruals)
necessary to present fairly financial position as of September 30, 1995 and the
results of operations for the three and nine months then ended, and cash flow
for
the nine months then ended.
Management's Discussion and Analysis of
Financial Condition and Results of Operations
The cash currently held by the Limited Partnership is considered sufficient to
meet future liquidity and capital needs. Operations consist of interest and
rental income and rental and general and administrative expenses. It is
anticipated that substantial funds will be expended to place the remainder of
the
Elliott Ranch in marketable condition and to maximize its value.
PART II - OTHER INFORMATION AND SIGNATURES
Items 1 to 6 Nothing to report.
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.
E & J PROPERTIES, LTD.
(Registrant)
Date: October 23, 1995 /s/ Elaine McKeon
Elaine McKeon, General Partner
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> SEP-30-1995
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<SECURITIES> 0
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0
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<CGS> 0
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<OTHER-EXPENSES> 172,146
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<INCOME-PRETAX) (78,464)
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<INCOME-CONTINUING> (78,464)
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<NET-INCOME> (78,464)
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