EFTA00797029.pdf

American Yacht Harbor Income Scatemem For the Six Month' F.nding June 30,2017 June 2017 Quarter to Date Year to Date Actual Budget Vat $ Var %. Acme/ Budget Vat $ Vas% Amu( Budget Yes S Vas% Rel. enuo. :damn Shp Revenue 165,736 122.946 42,7% 34.8% 505,649 456,128 49,521 10.9. 1222,845 934%8 89,857 9.6% Marina Shp Doreen. (1.199) (2255) (1,144) (50.7%) (11,184) (6,145) 04391 (42.0%) (20.5%) (11,811) (.787) (74.4%) Uplind Revenue 122,219 132329 00%9 (7.6%) 347,975 390,685 (42,710) (10.9%) 695,443 747273 (51230) (6.9%) Marina Concierge Sernas 8,597 5,287 3,310 626% 24,218 1.965 5,253 27.7% 48,354 41,347 7,007 16.9. Colon Relsnue 112,125 93,133 l8992 20.4% 283,164 154,693 28,481 1123. 525.313 507,487 17,826 33% Fuel 232,224 181,180 51,044 xasy. 593,461 493,974 99,487 20.1% 1,131,505 9.86,407 145,098 14.7% Nletchandoe 12,184 7,457 4,727 63.4% 24,516 18371 5,945 320% 42,310 37,383 4,927 132. Pamni.,:t.F:xptims 42,417 44222 (1205) (4.1%) 126,364 131,198 (4234) (3.7%) 241,138 251,662 (1.524) (I.4%) Other 7,430 3,548 91.4% 27 3(4 12.695 14,671 115.6% 53,411 72.402 25,021 881% Tool Revenues 699,533 594181 111,352 18.4% 1,921,529 1,99 ),754 150,775 8.9% 3,746,733 3,521,138 225,595 6.4% DICK( 01$1* Morino Concierge Services 489 489 IMO. 1,160 1,754 594 33.9% 2,455 3$24 1,369 35.8% lIciliner. 56,391 51,030 0,3919 (10.6%) 147,788 139,624 05,159 (58%) 273,088 273,420 332 0.1% thiliciescou% 50.29 54.76 4.47 0.08 52-19 5422 2-63 0.05 51.99 5188 1.89 0.04 Fuel 136,885 104,615 (12270) (39.8%) 321,565 284,984 (.16.581) (122%) 667,643 568,198 (99,445) (17.5%) Fuel cost% 58.95 57.74 (120) (0.02) 54.18 57.69 3.51 0.06 59.00 57.60 0.401 (0.02) Alerchandeue 9,589 5,118 (4471) (87.4%) 22,374 12,747 (9,627) (75.5%) 33,010 IA0.58 (7,1521 (28.7%) Total Data ant 202,865 161222 (41443) (25.8%) 492,887 439,109 (51778) (12.2%) 976,196 871,100 (105.096) (12.1%) Gins* Pinfir 496,668 426959 69,709 163% 1,428,642 1,331,645 96,997 7-1% 2,770,537 2.6502-18 120,499 43% Gnus Profit % 71.00 7239 1.59 0.02 74.35 7520 0.85 0.01 73.95 75.26 1.32 0.02 Parrot & limpinyee Benefits Total Patrol) 75,533 68297 (6436) (9.6%) 212,407 201986 (3,421) (1.6%) 420,148 415,673 (4,475) (1.1%) Total Emplmee Btu 26,687 11,891 (2,796) (11.7%) 64,538 72.150 7,612 10.6% 129,862 14.720 18,858 127% Total Pa6rnII& Emplmee Benefit* 102,220 927% (9,432) (10.2%) 276,945 281,136 4,191 1.5% 550,010 564393 14,383 2-5% Other 49peranng I:antrum Rene 13,333 13313 35,000 39,999 4,999 125% 40,000 79,998 (2) ((2%) lIcilineu rnollecored 99 7,499 7,400 98.7% 20,044 22072 2,028 9.2% 48,083 43,720 (4,163) (10.014) lIcilineu 5,715 .932 3,217 36.0% 17,433 27,059 9,626 35.6% 35,189 53,603 18,414 34.4% Ituurame 18,347 19,509 1,162 6.0% 56,087 58,497 2,410 4.1% 112,697 116,934 4,237 3.6% Management Fees 34,976 29,409 (5367) (18.9%) 96,084 1íB538 (7316) (8.5%) 187,337 176,057 (11280) (6.4%) Toms 14,922 11,856 (3,066) (25.9%) 38,695 13.197 (5,498) (16.6%) 74,111 66233 (7,8740 (11.9%) Remits & Moincenonce 7,860 7,298 (562) (7.7%) 19,5/4 21294 2,690 123% 43,088 43,788 700 1.6% Supplies. 3,461 1173 (2940 (9.1%) 12,736 11269 (1,467) (13.0%) 24,950 72,788 (4362) (20019 Marketing 3,325 2,260 (1,065) (47.1%) 9,899 15.090 5,181 34.4% 18,401 29,160 10,759 36.9% Protein...Rol Fees 11,134 14,021 2,887 20.6% 26,942 42,563 15,601 36.7% 50,002 86,211 36,229 420% Travel I:Ammer. 1,091 (1,09,6 1,091 (101) 1,785 1300 (285) (19214) Provision file Doubtful Account; 02524 »on 6,852 2244% (13.537) 9,030 22,537 2504% (35,601) 18.030 53,601 2972% Telephone 1,537 1,399 (410) (9.9%) 4,592 4,197 (395) (9.4%) 7,341 8.394 1,053 125% Cue& Cold COMIlliffinft 14,187 12273 (1,914) (15.6%) 43,557 11253 (9,704) (28.7%) 81,930 66,049 (15231) (24.0%) DO"" 3,750 3,542 (202) (5.9%) 11,250 10,626 (614) (5.9%) 22,500 21,252 (1,2481 (5.9%) InformanonTedinnioff 1,185 1,425 240 16.8% 4,847 4275 (572j (134%) 8,403 8,550 147 1.7% Other (9peranng. Expenses 136 131 (5) (3.8%) 850 393 (457) (116.3%) 1.281 786 (495) (63.0%) Tool Other ()penning Itxpenre 131,206 119,060 7,854 5.6% 314,794 421,512 37,718 8.9% 761,497 841223 79,526 93. Total Operating F.xpenses 233,426 231248 (1,578) (0.7%) 661,739 701448 41,909 6.(0.. 1,511,507 1,405.416 93,909 6.7% Omitting Expense % 33.37 3942 6.05 0.15 34.44 39.74 5.30 0.13 35.00 39.91 4.91 0.12 Net Operating Income 263,242 195,111 68.131 34.49. 7(4903 627,997 138,906 nry. 1,459,030 1,244,622 214,408 172. N4)I.. 37.63 33.17 (446) (0.13) 39.91 3544 (4.45) (0.13) 38.94 3.5.35 0-591 (0.10) Fixed (..xstu 3rd Pan) (:mh Interest I..•pense 49,762 44,6515 (5,077) (11.4%) 151,105 135,674 (15,431) (114%) 301,653 276,174 (25,479) (12%) 3rd Pall\ Interest Income (317) 317 ( 55I) 851 (22 24) 2,224 Depucianon 76,553 80,830 4,277 5.3% 230,016 241,118 11,102 4.6. 400,049 478,169 18,120 Amortuarzon 9,974 (99 749 29,923 (19,9231 59.846 09mg Accretion 2,601 (2101) 7,803 (7.803) 15,605 (15.605) Incerne(14m) Before Other COMS 1240.9 69,596 55,073 79.1% 348,907 151205 97,702 38.9% 624,101 490279 133,822 273% Net Income 124(49 69,596 55,073 79.1% 348,907 151205 97,702 38.9% 624,101 490279 133,822 27-3% EFTA00797029  American Yacht Harbor Balance Sheet June 30, 2017 UNAUDITED December 2016 June 2017 ASSETS Current Assets: Cash and cash equivalents $1,700 $1,700 Restricted cash 3,165,394 3,739,189 Accounts receivable 299,098 294,399 Inventory 55,750 75,421 Prepaids and other current assets 186,046 195,402 Total Current Assets 3,707,988 4,306,111 Land 1,847,000 1,847,000 Property and equipment, net 13,630,359 13,370,384 Intangible assets, net 149,595 97,544 Deferred financing costs 97,669 89,875 Other long term assets 285,093 283,916 Total Assets 19,717,704 19,994,830 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Notes payable 396,000 198,000 Accounts payable 49,423 262 Accrued expenses 306,476 246,115 Deferred revenue 66,708 58,358 Customer deposits 372,014 325,305 Total Current Liabilities 1,190,621 828,040 Notes payable 11,835,435 11,835,435 Other liabilities 655,428 671,033 Total Liabilities 13,681,484 13,334,508 Equity: Paid in capital 10,276,223 10,276,223 Retained earnings (5,134,067) (4,240,002) Current year pmfit/loss 894,064 624,101 Total Equity 6,036,220 6,660,322 Total Liabilities and Equity 19,717,704 19,994,830 EFTA00797030  American Yacht Harbor (AYH) Cash Flow Statement For the Six Months Ending June 30, 2017 UNAUDITED 1Q17 April May June 2Q17 2017 YTD Total Actual Actual Actual Total Actual Beginning Cash Balance $3,167,093 $3,399,754 $3,559,540 $3,819,327 $3,399,754 $3,167,093 Net Income From Operations $275,194 $136,225 $88,013 $124,669 $348,907 $624,101 Add Back Non-Cash Expenses: Depreciation and Amortization 267,758 89,485 89,128 89,128 267,741 535,499 Provision for doubtful accounts (22,064) 11,560 (21,245) (3,852) (13,537) (35,601) Cash from Operations $520,888 $237,270 $155,896 5209,945 $603,111 $1,123,999 Sources (Uses) of Cash: Accounts Receivable 44,801 (74,888) 173,344 (102,957) (4,501) 40,300 Inventory (7,258) 1,111 13,705 (27,229) (12,413) (19,671) Prepaid Expenses (100,203) 30,392 36,844 24,788 92,024 (8,179) Accounts Payable 52,111 (69,898) 59,291 (90,666) (101,273) (49,162) Deferred revenue (23,052) 24,596 3,930 (13,824) 14,702 (8,350) Accrued Expenses and (118,603) 46,082 (65,877) 31,331 11,536 (107,067) Other Liabilities Total Sources (Uses) of Cash ($152,204) ($42,605) $221,237 ($178,557) $75 ($152,129) NET CASH FLOW FROM OPERATING $368,684 8194,665 $377,133 $31,388 $603,186 $971,870 ACTIVITIES: CASH FLOW FROM INVESTING ACTIVITIES: Additions to Fixed Assets (37,023) (1,879) (84,340 (76,826) (163,051) (200,074) ($37,023) ($1,879) ($84,346) ($76,826) ($163,051) ($200,074) CASH FLOW FROM FINANCING ACTIVITIES: Payments on Long Term Debt (99,000) (33,000) (33,000) (33,000) (99,000) (198,000) ($99,000) ($33,000) ($33,000) ($33,000) ($99,000) ($198,000) NET CASH FLOW $232,661 5159,786 $259,787 ($78,438) $341,135 S573,796 Ending Cash Balance $3,399,754 $3,559,540 $3,819,327 $3,740,889 $3,740,889 $3,740,889 EFTA00797031