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FILED: NEW YORK COUNTY CLERK 10/22/2019 06:38 PM INDEX NO. 654079/2019
NYSCEF DOC. NO. 84 RECEIVED NYSCEF: 10/22/2019
EXHIBIT L
FILED: NEW YORK COUNTY CLERK 10/22/2019 06:38 PM INDEX NO. 654079/2019
NYSCEF DOC. NO. 84 RECEIVED NYSCEF: 10/22/2019
From: Rojelio Castillo Jr.
Sent: Thursday, October 17, 2019 12:19 PM
To: Tantleff,Alan
Cc: Jim Snead; Alfredo Jaramillo
Subject: [EXTERNAL] September 2019 Financials
Attachments: Financial Statements 9-2019.pdf
Here isSeptember 2019 Financials
Rojelio Castillo Jr. E: Rojelio.CastilloJr@chukchansigold.com
b.r O: (559)692-5403
GL Accountant
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FILED: NEW YORK COUNTY CLERK 10/22/2019 06:38 PM INDEX NO. 654079/2019
NYSCEF DOC. NO. 84 RECEIVED NYSCEF: 10/22/2019
EXHIBIT A
CHUKCHANSI GOLD RESORT & CASINO
PRELIMINARY AND UNAUDITED
FOR PERIODS ENDED SEPTEMBER 30, 2019AND AUGUST 31, 2019
SEPTEMBER 2019 AUGUST 2019 Change
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 11,996,617 $ 20,043,319 $ (8,046,702)
Restrictedcash and investments 4,250,000 $ 4,250,000 -
Accounts net
receivable, 1,543,671 1,603,397 (59,726)
Due from relatedparties 400,548 375,742 24,806
Inventories 962,201 1,042,961 (80,760)
Prepaidsand other 4,308,765 4,601,506 (292,741)
Totalcurrentassets 23,461,802 31,916,925 (8,455,123)
CAPITAL ASSETS, NET 165,692,480 166,634,777 (942,297)
OTHER ASSETS 1,847,913 (408,879) 2,256,792
TOTAL ASSETS $ 191,002,195 $ 198,142,823 $ (7,140,628)
LIABILITIES AND NET POSITION
CURRENT LIABILITIES:
Accounts payable $ 4,319,852 $ 4,696,363 $ (376,511)
Accrued liabilities 3,199,644 4,680,808 (1,481,164)
Interest
payable 91,909,739 89,861,568 2,048,171
Due to related
parties 214,876 166,760 48,116
Arbitrationsettlement -
liability
Currentportion of notes
payable and vendor -
financing
obligations - - -
Contingent -
Liability
Totalcurrentliabilities 99,644,111 99,405,499 238,612
LONG-TERM LIABILITIES:
Other long-termdebt 255,648,509 255,846,089 (197,580)
Totalliabilities 355,292,620 355,251,588 41,032
COMPONENTS OF NET POSITION:
Investedin capital
assets, net of related
debt (65,456,029) (64,711,312) (744,717)
Restricted 4,250,000 4,250,000 -
Unrestricted (103,084,396) (96,647,453) (6,436,943)
Totalnet position (164,290,425) (157,108,765) (7,181,660)
TOTAL LIABILITIES AND NET POSITION $ 191,002,195 $ 198,142,823 $ (7,140,628)
FILED: NEW YORK COUNTY CLERK 10/22/2019 06:38 PM INDEX NO. 654079/2019
NYSCEF DOC. NO. 84 RECEIVED NYSCEF: 10/22/2019
EXHIBIT A
PRELIMINARY AND UNAUDITED
STATEMENTS OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
FOR PERIODS ENDED AUGUST 31, 2019 AND JULY 31,2019
SEPTEMBER 2019 AUGUST 2019 Change
OPERATING REVENUES:
Casino $ 11,822,885 $ 12,390,674 $ (567,789)
Food and beverage 1,669,248 1,851,677 (182,429)
Rooms 497,686 517,496 (19,810)
Retail, and
entertainment, amenities 161,580 201,967 (40,387)
Other Revenue 105,620 101,171 4,449
Gross operatingrevenues 14,257,019 15,062,985 (805,966)
Promotionalallowance (1,055,861) (1,152,703) 96,842
Net operatingrevenues 13,201,158 13,910,282 (709,124)
OPERATING EXPENSES:
Casino 3,221,680 1,456,294 1,765,386
Food and beverage 4,026,372 2,147,257 1,879,115
Rooms 1,284,070 598,490 685,580
Retail, and
entertainment, amenities 501,621 336,407 165,214
Facilities 2,006,356 1,248,993 757,363
device license
fees 183,750 183,750 -
Gaming
General and administrative 3,733,853 3,594,259 139,594
Depreciationand amortization 1,082,218 1,097,262 (15,044)
Total operatingexpenses 16,039,920 10,662,712 5,377,208
OPERATING INCOME (2,838,762) 3,247,570 (6,086,332)
NONOPERATING EXPENSES (INCOME):
Gain on disposalofassets - - -
(loss)
Other non-operatingexpenses 1,555,974 548,026 1,007,948
Interest
and other income -
Interest
expense 1,911,924 1,852,016 59,908
Total expenses - net 3,467,898 2,400,042 1,067,856
nonoperating
INCOME BEFORE TRANSFERS
FROM (TO) TRIBE (6,306,660) 847,528 (7,154,188)
CONTRIBUTIONS FROM TRIBE -
TRANSFERS TO TRIBE (875,000) (875,000) 7,154,188
NET TRANSFERS TO TRIBE (875,000) (875,000) 1,007,948
INCOME (LOSS) AFTER NET TRANSFERS
TO TRIBE (7,181,660) (27,472) (7,154,188)
Net position- of period
Beginning (157,108,765) (157,081,293) (27,472)
Net position- End of period $ $ $
(164,290,425) (157,108,765) (7,181,660)
FILED: NEW YORK COUNTY CLERK 10/22/2019 06:38 PM INDEX NO. 654079/2019
NYSCEF DOC. NO. 84 RECEIVED NYSCEF: 10/22/2019
EXHIBIT A
PRELIMINARY AND UNAUDITED
STATEMENTS OF CASH FLOWS
FOR PERIODS ENDED SEPTEMBER 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
OperatingIncome (2,838,762)
Adjustments net income
to reconcile to net cash provided
by operatingactivities:
Depreciationand amortization 1,082,218
Loss on disposalof assets -
(gain)
(Decrease)increase in cash resulting
from changes in:
Accounts receivable (2,202,829)
Inventory 80,760
Prepaidexpenses 292,741
Due from related
parties (24,806)
Due to related
parties 48,116
Accounts payable (376,511)
Accrued liabilities (1,481,164)
Arbitrationsettlement -
liability
Net cash provided
by operatingactivities (5,420,237)
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES:
Change in restricted
cash and investments -
Capitalexpenditures (134,158)
Proceedsfrom debt issuance -
from
Proceeds received disposalof capital
assets -
Interest
paid (61,333)
Principal
repayment of capital
lease obligations -
Principal
repayment of short term
debt -
Net cash used in capital
and related
financingactivities (195,491)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
Principal
repayments term debt -
long
Fees paid -
Financing
Legal Settlement -
Transfersto the Tribe (875,000)
Othernon-operating expenses (1,555,974)
Net cash used by non-capital activities
financing (2,430,974)
CASH FLOWS FROM INVESTING ACTIVITIES:
and other income
Interest -
Net cash provided activities -
by investing
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (8,046,702)
CASH AND CASH EQUIVALENTS - of period 24,293,320
Beginning
CASH AND CASH EQUIVALENTS - Endof period $ 16,246,618
SUPPLEMENTAL DISCLOSURE OF NONCASH INFORMATION
Amortizationof debt premium $ 165,022
Capital through
assets acquired vendor obligations $ -
financing