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Previous: AMERICAN ELECTRIC POWER COMPANY INC, 35-CERT, 1995-11-29 |
Next: AMERICAN LEADERS FUND INC, NSAR-A, 1995-11-29 |
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AEP INVESTMENTS, INC.
QUARTERLY REPORT PER REQUIREMENTS
OF HOLDING COMPANY ACT RELEASE NO. 25667
FOR THE QUARTER ENDED SEPTEMBER 30, 1995
<CAPTION>
CONTENTS
Page
<S> <C>
Statement of Income and Statement of Retained Earnings 1
Balance Sheet 2
Statement of Cash Flows 3
Notes to Financial Statements 4
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AEP INVESTMENTS, INC.
STATEMENT OF INCOME
THREE MONTHS ENDED SEPTEMBER 30, 1995
(UNAUDITED)
<CAPTION>
(in thousands)
<S> <C>
REVENUES $39
EXPENSES
Affiliated Services 2
Ohio Corporate Francise Taxes 7
TOTAL EXPENSES 9
INCOME BEFORE FEDERAL INCOME TAXES 30
FEDERAL INCOME TAXES 10
NET INCOME $20
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STATEMENT OF RETAINED EARNINGS
THREE MONTHS ENDED SEPTEMBER 30, 1995
(UNAUDITED)
<CAPTION>
(in thousands)
<S> <C>
BALANCE AT BEGINNING OF PERIOD* $(8,416)
NET INCOME 20
BALANCE AT END OF PERIOD* $(8,396)
*Parentheses Denote Accumulated Deficit.
The common stock of the Company is wholly owned
by American Electric Power Company, Inc.
See Notes to Financial Statements.
/TABE
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AEP INVESTMENTS, INC.
BALANCE SHEET
SEPTEMBER 30, 1995
(UNAUDITED)
<CAPTION>
(in thousands)
ASSETS
<S> <C>
INVESTMENTS:
Intersource Technologies, Inc. $11,500
Envirotech Investment Fund I 197
PHPK Technologies, Inc. 299
TOTAL INVESTMENTS 11,996
CURRENT ASSETS:
Cash 42
Notes Receivable - Intersource Technologies, Inc. 1,000
Accounts Receivable 80
Prepayments 8
TOTAL CURRENT ASSETS 1,130
DEFERRED FEDERAL INCOME TAXES 4,485
DEFERRED CHARGES 234
TOTAL ASSETS $17,845
CAPITALIZATION AND LIABILITIES
Paid-in Capital $13,684
Accumulated Deficit (8,396)
TOTAL CAPITALIZATION 5,288
CURRENT LIABILITIES - Taxes Accrued 17
PROVISION FOR LOSS - Intersource Technologies, Inc. 12,540
TOTAL CAPITALIZATION AND LIABILITIES $17,845
See Notes to Financial Statements.
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AEP INVESTMENTS, INC.
STATEMENT OF CASH FLOWS
THREE MONTHS ENDED SEPTEMBER 30, 1995
(UNAUDITED)
<CAPTION>
(in thousands)
OPERATING ACTIVITIES:
<S> <C>
Net Income $ 20
Changes in Certain Current Assets and Liabilities:
Accounts Receivable (40)
Prepayments 6
Taxes Accrued 13
Net Cash Flows Used For Operating Activities (1)
INVESTING ACTIVITIES - PHPK Technologies, Inc. (299)
FINANCING ACTIVITIES - Capital Contributions from Parent Company 299
NET DECREASE IN CASH (1)
CASH AT BEGINNING OF PERIOD 43
CASH AT END OF PERIOD $ 42
SUPPLEMENTAL DISCLOSURE:
Cash received for income tax refunds was $2,000.
See Notes to Financial Statements.
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AEP Investments, Inc.
Notes to Financial Statements
September 30, 1995
PROVISION FOR LOSS
In June 1994 the Company recorded a provision of $12,540,000 ($8,151,000 net of
a provision for deferred federal income taxes) for its investment in and
receivables from InterSource Technologies, Inc., which has been engaged in
development of a new lighting technology called the E-lamp. Efforts are being
made to recoup a portion of the investment. The Company has agreed to waive its
right to exercise remedies specified in the agreements supporting the $1,040,000
of receivables from InterSource Technologies, Inc. and released its security
interest in the collateral.
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