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, 1996 Commission File Number: 33-10196
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(Exact name of registrant as specified in its charter)
California Almond Investors I
-----------------------------
A California Limited Partnership
California 94-3021790
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(State or other jurisdiction of I.R.S. Employer Identification No.)
incorporation or organization
2245 Challenger Way, Suite 100, Santa Rosa, CA 95407
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(Address of principal executive offices) (Zip Code)
(707) 579-3742
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(Registrant's telephone number, including area code)
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(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, 1996
ASSETS
CURRENT ASSETS
Cash 283,169
Investments, short term 1,023,108
Accounts Receivable, no allowance deemed necessary 1,053,573
Deferred crop costs 185,345
Advances for farm costs 40,431
Deposits and other prepaids
---------
Total Current Assets 2,585,626
PROPERTY AND EQUIPMENT
Land 1,100,814
Orchards 2,216,717
Equipment 1,158,856
Buildings 130,601
4,606,988
Less accumulated depreciation -2,110483
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2,496,505
5,082,131
=========
LIABILITIES AND PARTNERS' EQUITY
CURRENT LIABILITIES
Accounts payable and accrued liabilities 20,874
Payables to general partner and related parties 0
Current portion of long-term debt 24,000
---------
Total Current Liabilities 44,874
LONG-TERM DEBT, less current portion 420,000
PARTNERS' EQUITY 4,617,257
5,082,131
=========
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 and operating reserves continue to improve.
Distributions to Limited Partners were increased to $90,000.00 per quarter in
1996. Distributions to Limited Partners will again be increased in 1997 to
$120,000 per quarter.
Results of Operations
In 1996 the Partnership harvested approximately 820,000 pounds of almonds. This
is an average of 1,352 pounds per acre. The projected price for the 1996 crop is
$2.00 per pound. In 1995 the Partnership harvested only 396,738 pounds of
almonds for an average per acre of 654 pounds per acre.
Total revenue for 1996 is currently expected to be in excess of $1,700,000,
exceeding the previous high of $1,676,439 in 1993.
<PAGE>
PART II
Item No.
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1. Material developments in connection with legal proceeding - not
applicable
2. Material modification of rights of registrant's securities - no
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: /s/ David A Bade
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David A Bade
President
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JUL-01-1996
<PERIOD-END> SEP-30-1996
<CASH> 283,169
<SECURITIES> 1,023,108
<RECEIVABLES> 1,053,573
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 2,585,626
<PP&E> 4,606,788
<DEPRECIATION> 2,110,483
<TOTAL-ASSETS> 5,082,131
<CURRENT-LIABILITIES> 44,874
<BONDS> 0
<COMMON> 4,617,257
0
0
<OTHER-SE> 0
<TOTAL-LIABILITY-AND-EQUITY> 5,082,131
<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>
