SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB
QUARTERLY REPORT UNDER SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1954
FOR QUARTER ENDED: SEPTEMBER 30, 1995 COMMISSION FILE NUMBER: 33-10196
------------------ --------
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
CALIFORNIA ALMOND INVESTORS I
--------------------------------
A CALIFORNIA LIMITED PARTNERSHIP
CALIFORNIA 94-3021790
- --------------------------------------------------------------------------------
(STATE OR OTHER JURISDICTION OF I.R.S. EMPLOYER IDENTIFICATION NO.)
INCORPORATION OR ORGANIZATION
2245 CHALLENGER WAY, SUITE 100, SANTA ROSA, CA 95407
- --------------------------------------------------------------------------------
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
(707) 579-3742
- --------------------------------------------------------------------------------
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
- --------------------------------------------------------------------------------
(FORMER NAME, FORMER ADDRESS AND FORMER FISCAL YEAR,
IF CHANGED SINCE LAST REPORT.)
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.
See following pages.
<PAGE>
CALIFORNIA ALMOND INVESTORS I
(A CALIFORNIA LIMITED PARTNERSHIP)
BALANCE SHEET
September 30, 1995
ASSETS
CURRENT ASSETS
Cash 481,924
Investments, short term 469,568
Accounts Receivable, no allowance
deemed necessary 677,977
Deferred crop costs 179,667
Advances for farm costs 9,201
Deposits and other prepaids 3,098
---------
Total Current Assets 1,821,435
PROPERTY AND EQUIPMENT
Land 1,100,814
Orchards 2,216,717
Equipment 1,158,856
Buildings 130,601
4,606,988
Less accumulated depreciation 1,830,271
---------
2,776,717
4,598,152
=========
LIABILITIES AND PARTNERS' EQUITY
CURRENT LIABILITIES
Accounts payable and accrued liabilities 7,688
Payable to general partner and related parties 0
Current portion of long-term debt 24,000
---------
Total Current Liabilities 31,688
LONG-TERM DEBT, less current portion 444,000
PARTNERS' EQUITY 4,122,464
4,598,152
=========
The financial statements, in the opinion of management, reflect all
adjustments necessary to fairly state the financial position and the
results of operations. These results are not necessarily to be considered
indicative of the results for the entire year.
<PAGE>
PART I-FINANCIAL INFORMATION
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS.
Liquidity and Capital Resources
The Partnership liquidity continues to improve. Distributions to
Limited Partners are currently being made at the rate of $60,000.00 per
quarter. This rate of distributions is planned to continue as reserves
increase. There is no current intention to increase the distributions until
the Partnership has paid all of its outstanding debts.
Results of Operations
The Partnership continued to operate at a break-even rate in the third
quarter 1995. This result is not indicative of the results for the entire
fiscal year, due to the seasonal nature of the almond growing business.
Almonds are harvested in August through October and the crop revenues and
expenses are recognized at that time. Since the partnership's crop care has
not been completed for this growing season, it is not possible to say if
cultural costs will be higher or lower than last year's costs. At this time
though, it seems that cultural costs will be substantially the same as last
year.
Because of the bad weather and heavy rains this year, the drought in
California has ended. Because of the heavy rains, the 1995 is expected to
be much smaller than the 1994 crop.
<PAGE>
PART II
ITEM NO.
- --------
1. Material developments in connection with legal proceeding -
not applicable
2. Material modification of rights of registrant's securities -
not applicable
3. Defaults on senior securities - not applicable
4. Submission of matters to a vote of security holders - not
applicable
5. Other events of importance - not applicable
6. Exhibits and Reports on Form 8-K - not applicable
<PAGE>
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.
CALIFORNIA ALMOND INVESTORS I
A California limited partnership
By: Vintech Almond Advisers, Inc.
A California corporation,
Managing General Partner
By: ------------------------------------------
Donald D. Bade
President
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
BALANCE SHEET
</LEGEND>
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> SEP-30-1995
<CASH> 481,924
<SECURITIES> 0
<RECEIVABLES> 677,977
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 1,821,435
<PP&E> 4,606,988
<DEPRECIATION> 1,830,271
<TOTAL-ASSETS> 4,598,152
<CURRENT-LIABILITIES> 31,688
<BONDS> 0
<COMMON> 0
0
0
<OTHER-SE> 0
<TOTAL-LIABILITY-AND-EQUITY> 4,598,152
<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> 0.00
<EPS-DILUTED> 0.00
</TABLE>
