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: March 31, 2000 Commission File Number: 33-10196
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(Exact name of registrant as specified in its charter)
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California Almond Investors I
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A California Limited Partnership
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California 94-3021790
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(State or other jurisdiction of incorporation or organization I.R.S. Employer Identification No.)
2210 Northpoint Parkway, 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.)
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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
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PART I - FINANCIAL INFORMATION
Item 1. Financial Statements.
See following pages.
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CALIFORNIA ALMOND INVESTORS I
(A CALIFORNIA LIMITED PARTNERSHIP)
BALANCE SHEET
March 31, 2000
ASSETS
CURRENT ASSETS
Cash 141,277
Investments, short term 205,226
Accounts Receivable, no allowance deemed necessary 464,445
Deferred crop costs 121,776
Advances for farm costs 121,086
Deposits and other prepaids 08215
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Total Current Assets 1,,062,025
PROPERTY AND EQUIPMENT
Land 1,100,814
Orchards 2,216,717
Equipment 1,158,857
Buildings 141,071
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4,617,457
Less accumulated depreciation 3,092,066
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1,525,391
2,587,416
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LIABILITIES AND PARTNERS' EQUITY
CURRENT LIABILITIES
Accounts payable and accrued liabilities 97,499
Payables to general partner and related parties (14,270)
Current portion of long-term debt 24,000
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Total Current Liabilities 107,229
LONG-TERM DEBT, less current portion 336,000
PARTNERS' EQUITY 2,144,187
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2,587,416
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.
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PART I-FINANCIAL INFORMATION
Item 2. Management's Discussion and Analysis of Financial Condition and Results
of Operations.
Liquidity and Capital Resources
Partnership liquidity is currently diminishing due to falling prices
for the 1999 crop. Distributions to Limited Partners have been suppended.
Although it is currently anticipated that the Partnership will have sufficient
liquidity to complete the 2000 crop without having to incure any debt, this
could change if there is further reduction in almond prices.
Results of Operations
The Partnership continued to operate at a break-even rate in the first
quarter 2000. 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 poor weather during the almond pollination in February
and March, the 2000 crop is expected to be small that the 1999 crop. It is to
early to determine what the projected 2000 almond prices will be.
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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 - 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
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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.
CALIFORNIA ALMOND INVESTORS I
A California limited partnership
By: Vintech Almond Advisers, Inc.
A California corporation,
Managing General Partner
By: ______________________________________
David Bade
President
