<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
Quarterly Report Pursuant to Section 13 or 15(d)
of
The Securities Exchange Act of 1934
for the Quarterly Period ended September 30, 1996
______________________
Commission File No. 0-19933
TMP INLAND EMPIRE VI, LTD.
A CALIFORNIA LIMITED PARTNERSHIP
(Exact name of registrant as specified in its charter)
CALIFORNIA 33-0341829
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
801 North Parkcenter Drive, Suite 235 92705
Santa Ana, California (Zip Code)
(Address of principal executive office)
(714) 836-5503
(Registrant's telephone number, including area code)
______________________
Indicate by check mark whether Registrant has [1] 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 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.
Yes [X] No [ ]
<PAGE>
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements
The following financial statements are filed as a part of this Form
10-Q:
Balance Sheets as of September 30, 1996 and December 31, 1995
Statements of Income for the three and nine months ended September 30, 1996
and 1995
Statements of Cash Flows for the nine months ended September 30, 1996, and
1995
The accompanying unaudited interim financial statements include all
adjustments (consisting solely of normal recurring adjustments) which
are, in the opinion of management, necessary to fairly present the
financial position of the Partnership as of September 30, 1996 and the
results of its operations, changes in partners' equity, and cash
flows for the periods then ended
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TMP INLAND EMPIRE VI, LTD.
a California Limited Partnership
<TABLE>
<CAPTION>
Balance Sheets
September 30, 1996 December 31, 1995
<S> <C> <C>
Assets
Cash $ 114,039 $151,911
Accounts Receivable - 180
Property Held For Investment 9,495,764 9,427,903
Notes Receivable (Note 3) $223,516 227,609
Interest Receivable $4,090 -
Organizational Expenses $ 815 $ 5,915
Total Assets $9,838,224 $ 9,815,518
Liabilities and Partners Capital
Accounts Payable & Accrued Liabilities $1,098 $ 3,181
Taxes Payable $15,588 -
Total Liabilities $16,686 $ 3,181
Partners' capital
General Partners ($ 4,468) $ (4,560)
Limited Partners 11,500 equity
units authorized and outstanding $9,826,006 $ 9,816,897
Total Partners Capital $9,821,538 $ 9,812,337
Total Liabilities & Partners Capital $9,838,224 $ 9,815,518
</TABLE>
<PAGE>
TMP INLAND EMPIRE VI, LTD.
.
a California Limited Partnership
<TABLE>
<CAPTION>
Statements of Income
Three Months Ended Nine Months Ended
Sept. 30 Sept. 30 Sept. 30 Sept. 30
1996 1995 1996 1995
<S> <C> <C> <C> <C>
Land Sales $0 $ 1,121,703 $ 0 $ 1,121,703
Cost of Land Sales $0 $ 1,509,096 $ 0 $ 1,509,096
Gross Profit (Loss) $0 $ (386,393) $ 0 $ (386,393)
Interest & Other Income $5,690 $ 2,432 $ 17,501 $ 4,978
$5,690 $ (383,961) $ 17,501 $ (381,415)
General & Admin. $ 4,900 ($2,210) $ 8,300 $ 7,387
Net Income (Loss) $ 790 $ (387,150) $ 9,201 $ (388,802)
Allocation of Net Income (Loss) (Note 2):
General Partners $ 8 $ (3,872) $ 92 $ (3,888)
Limited Partners $ 782 $(383,278) $ 9,109 $ (384,914)
Limited Partners,
per unit $ .07 $ (33.33) $ .78 $ (33.47)
</TABLE>
<PAGE>
TMP INLAND EMPIRE VI, LTD.
a California Limited Partnership
<TABLE>
<CAPTION>
Statement of Cash Flows
Nine Months Ended September 30,
1996 1995
<S> <C> <C>
Net Income (Loss) $ 9,201 $ (388,802)
Non-cash adjustments:
Amortization of organization costs 5,100 5,100
Adjustments to reconcile net income (loss)
to net cash used in operating activities:
Increase (decrease) in investment
in unimproved land ( 67,861) 1,341,890
(Increase) Decrease in Accounts Receivable 180 (237)
Increase in Notes Receivable 4,093 (227,609)
Increase in Interest Receivable (4,090) -
Increase (Decrease) in Accounts Payable
and Accrued Liabilities 13,505 5,304
Net Cash provided by (used in)
Operating Activities $ (39,872) $ 735,646
Proceeds from Notes Payable - $ 108,408
Repayment of Notes Payable - (458,408)
Partner Distributions - (232,323)
Net Cash provided by (used in)
Financing Activities $ - $ (582,323)
Net Increase (Decrease) in Cash $ (39,872) $ 153,323
Cash, Beginning of Period $ 153,911 $ 77,379
Cash, End of Period $ 114,039 $ 230,720
</Table
<PAGE>
TMP INLAND EMPIRE VI, LTD
a California Limited Partnership
Notes to the Financial Statements
For the Three and Nine Months Ended September 30, 1996
(Unaudited)
NOTE 1 - Summary of Significant Accounting Policies
Accounting Method - TMP Inland Empire VI, Ltd. (the Partnership) prepares its
financial statements on the accrual basis of accounting.
Organization Costs - Organization costs include expenses incurred in the formation of
the Partnership that have been capitalized and that have been amortized over a period
of 40 years prior to 1992 and are being amortized over five years beginning in 1992.
Investment in Unimproved Land - The Partnership's land is stated at the lower of
actual cost or market value, based on specific identification. All costs associated
with the acquisition of a property are capitalized. In addition, the Partnership
capitalizes all carrying costs.
Income Taxes - The entity is treated as a partnership for income tax purposes and any
income or loss is passed through and taxable at the partner level. Accordingly, no
provision for federal income taxes is provided.
NOTE 2 - Allocation of Profits, Losses and Cash Distributions
Profits, losses, and cash distributions are allocated 99 percent to the limited
partners and one percent to the general partners until the
limited partners have received an amount equal to their capital
contributions plus a cumulative, non-compounded return of six
percent per annum based on their adjusted capital account
balances. At that point, remaining profits, losses and cash
distributions are allocated 85 percent to the limited partners
and 15 percent to the general partners.
As of September 30, 1996 and 1995, profits, losses and cash
istributions were allocated 99 percent to the limited partners
and one percent to the general partners.
NOTE 3 - Note Receivable
As of September 30, 1996, the Partnership had a secured note receivable
from the sale of Partnership land. The note was originally for
$248,000 and bears interest at seven percent per annum.
The note matures August 29, 2002 and is currently in default.
The Partnership is foreclosing on the property securing the loan.
<PAGE>
TMP INLAND EMPIRE VI, LTD.
a California Limited Partnership
For the Three and Nine Month Periods Ended September 30, 1996
Item 2. Management's Discussion and Analysis of Financial Condition
and Results of Operations.
Partnership revenues during the three and nine month periods ended September 30,
1996 and 1995 consisted primarily of interest income. There were no
property sales in 1996. During the nine months ended September 30, 1995,
the Partnership sold two parcels of land at a combined loss of $386,393.
During the nine months ended September 30, 1996, Operating activities used
approximately $40,000 mainly for the carrying costs of the land held for investment.
Operating activities for the nine months ended September 30, 1995 provided
approximately $736,000 of cash, mainly from the sale of Partnership land.
Financing activities used approximately $582,000 for repayment of notes
payable and distributions to partners.
The Partnership carried a $248,000 note as part of the Adelanto land sale.
In July 1996, the note went into default when the Buyer of the Adelanto land stopped
debt servicing the note. The Partnership has begun foreclosure proceedings to foreclose upon the land securing the note.
The Partnership had nine properties as of September 30, 1996 that are being held
for appreciation and resale. Upon the sale of each property, the
Partnership intends to distribute the sales proceeds, less any reserves
needed for operations, to the partners.
Management believes that the Partnership has sufficient cash to meet the
anticipated cash requirements of the Partnership for the next twelve
months.
<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.
Date: November 12, 1996
TMP INLAND EMPIRE VI, LTD.
a California Limited Partnership
By: TMP Investments, Inc., as General Partner
\s\ William O. Passo
By:___________________________________
William O. Passo, President
\s\ Jenny Rex
By:___________________________________
Jenny Rex, Secretary
\s\ Michael Sun
By:___________________________________
Michael Sun, Chief Financial Officer
By: TMP Properties, a California General
Partnership as General Partner
\s\ William O. Passo
By:___________________________________
William O. Passo,
\s\ Anthony W. Thompson
By:___________________________________
Anthony W. Thompson
\s\ Scott E. McDaniel
By:___________________________________
Scott E. McDaniel
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<CIK> 0000885046
<NAME> TMP INLAND EMPIRE VI, LTD.
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> SEP-30-1996
<CASH> 114039
<SECURITIES> 0
<RECEIVABLES> 228421
<ALLOWANCES> 0
<INVENTORY> 9495764
<CURRENT-ASSETS> 9838224
<PP&E> 0
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<TOTAL-ASSETS> 9838224
<CURRENT-LIABILITIES> 16686
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0
0
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<OTHER-SE> 9821538
<TOTAL-LIABILITY-AND-EQUITY> 9838224
<SALES> 17501
<TOTAL-REVENUES> 17501
<CGS> 0
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<OTHER-EXPENSES> 8300
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<INCOME-PRETAX> 9201
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</TABLE>
