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 June 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
June 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 $0.75 to $1.25 is indicated.
PART I - FINANCIAL INFORMATION
E & J PROPERTIES, LTD.
(A California Limited Partnership)
Balance Sheets
June 30, 1995 and December 31, 1994
(Unaudited)
June 30, December 31,
1995 1994
Assets
Cash and cash equivalents $2,076,535 2,194,703
Elliott Ranch 2,608,950 2,530,342
Other assets 42,346 74,562
$4,727,831 4,799,607
========= =========
Liabilities and Partners' Equity
Liabilities:
Accrued expenses and other liabilities $ 19,757 34,288
Partners' equity:
Units of limited partnership
issued, 3,523,680 4,634,094 4,690,702
Units of general partnership
issued, 39,643 73,980 74,617
Total partners' equity 4,708,074 4,765,319
$4,727,831 4,799,607
========= =========
See accompanying note to financial statements.
E & J PROPERTIES, LTD.
(A California Limited Partnership)
(Unaudited)
Statements of Earnings
For the Six Months For the Three Months
Ended June 30, Ended June 30,
1995 1994 1995 1994
Revenues:
Interest and rental income $ 64,635 45,351 33,272 23,287
Expenses:
Property taxes 16,399 16,583 8,199 8,291
Depreciation 2,867 2,867 1,434 1,434
General and administrative 102,614 101,769 48,369 45,755
121,880 121,219 58,002 55,480
Net earnings (loss) $ (57,245) (75,868) (24,730) (32,193)
========= ========= ========= =========
Net earnings (loss) per unit $ (0.02) (0.02) (0.01) (0.01)
========= ========= ========= =========
Units outstanding 3,563,323 3,563,323 3,563,323 3,563,323
========= ========= ========= =========
Statements of Cash Flow
For the Six Months
Ended June 30,
1995 1994
Cash flows from operating activities:
Net earnings (loss) $ (57,245) (75,868)
Depreciation 2,867 2,867
Decrease in other assets 32,216 19,372
Increase (decrease) in liabilities (14,531) (22,791)
Net cash flow from operating activities (36,693) (76,420)
Cash expenditures for Elliott Ranch (81,475) (173,989)
Net increase in cash and cash equivalents (118,168) (250,409)
Beginning cash and cash equivalents 2,194,703 2,700,589
Ending cash and cash equivalents $2,076,535 2,450,180
========= =========
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 June 30, 1995 and the
results of operations for the three and six months then ended, and cash flow for
the six 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: July 28, 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> JUN-30-1995
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0
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<INCOME-CONTINUING> (57,245)
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<NET-INCOME> (57,245)
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