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F O R M 10-Q/A
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
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Quarterly Report Pursuant to Section 13 or 15 (d)
of The Securities Exchange Act of 1934
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For Quarter Ended June 30, 1996
Commission File No. 2-64309
GOLF HOST RESORTS, INC.
STATE OF COLORADO EMPLOYER IDENTIFICATION NO. 84-0631130
Post Office Drawer 3131, Durango, Colorado 81302
Telephone Number (970) 259-2000
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 twelve months, and (2) has been subject to the filing
requirements for the past 90 days. - Yes X No
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Issuer has no common stock subject to this report.
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The remainder of Note 3 has not changed significantly from the 10-K filing
of December 31, 1995.
(4) LEASES
During the quarter, there was no significant change from the 10-K filing of
December 31, 1995.
(5) ACCRUED EXPENSES
Accrued expenses consist of the following:
<TABLE>
<CAPTION>
June 30, December 31,
1996 1995
---------- ------------
<S> <C> <C>
Rental pool lease operations $2,080,776 $1,760,259
Salaries 1,255,002 1,400,364
Taxes, other than income taxes 572,720 742,033
Other 441,643 371,429
---------- ----------
$4,350,141 $4,274,085
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</TABLE>
(6) INCOME TAX ALLOCATION AND SHARING POLICY
During the quarter, there was no significant change from the 10-K filing of
December 31, 1995.
(7) SUPPLEMENTAL CASH FLOW DATA
The (increases) decreases in working capital other than cash are as
follows:
<TABLE>
<CAPTION>
Six Months Ended June 30,
----------------------------
1996 1995
------------- -------------
<S> <C> <C>
Accounts receivable $ 226,012 $ (473,893)
Inventories and supplies (169,646) (53,344)
Prepaid expenses and other (62,517) (11,234)
Intercompany 210,208 (436,600)
Accounts payable 185,261 495,564
Accrued expenses 76,056 (260,435)
Deposits and prepaid fees (572,925) $(1,037,640)
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$(107,551) $(1,777,582)
========= ===========
</TABLE>
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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.
GOLF HOST RESORTS, INC.
Date: October 2, 1997 By: /s/ R. S. Ferreira
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Richard S. Ferreira
Executive Vice President
Chief Financial Officer
Date: October 2, 1997 By: /s/ A. S. Herzog
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A. Stephen Herzog
Vice President and Controller
Chief Accounting Officer
Date: October 2, 1997 By: /s/ R. L. Akin
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Richard L. Akin
Vice President
and Treasurer
