CRONOS GLOBAL INCOME FUND XVI LP
CIK:0001002519|SEC Filings
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Condensed Statements of Operations (Unaudited) (USD $)
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3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
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Jun. 30, 2011
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Jun. 30, 2010
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Jun. 30, 2011
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Jun. 30, 2010
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| Condensed Statements of Operations [Abstract] | ||||
| Net lease revenue from Leasing Agent | $ 236,864 | $ 220,097 | $ 471,271 | $ 393,377 |
| Other operating income (expenses): | ||||
| Depreciation | (111,402) | (186,571) | (268,182) | (383,774) |
| Other general and administrative expenses | (40,081) | (34,601) | (84,017) | (74,095) |
| Net gain on disposal of equipment | 170,700 | 90,681 | 262,291 | 198,109 |
| Total other operating income (expenses) | 19,217 | (130,491) | (89,908) | (259,760) |
| Net income | 256,081 | 89,606 | 381,363 | 133,617 |
| Allocation of net income: | ||||
| General partner | 12,708 | 10,638 | 18,129 | 22,603 |
| Limited partners | 243,373 | 78,968 | 363,234 | 111,014 |
| Total Allocation of net income | $ 256,081 | $ 89,606 | $ 381,363 | $ 133,617 |
| Limited partners' per unit share of net income | $ 0.15 | $ 0.05 | $ 0.23 | $ 0.07 |
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Condensed Statements of Cash Flows (Unaudited) (USD $)
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6 Months Ended | |
|---|---|---|
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Jun. 30, 2011
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Jun. 30, 2010
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| Condensed Statements of Cash Flows [Abstract] | ||
| Net cash provided by operating activities | $ 391,157 | $ 283,822 |
| Cash flows from investing activities: | ||
| Proceeds from sale of container rental equipment | 272,725 | 508,146 |
| Cash flows from financing activities: | ||
| Distributions to general partner | (20,284) | (22,534) |
| Distributions to limited partners | (773,171) | (939,803) |
| Net cash used in financing activities | (793,455) | (962,337) |
| Net decrease in cash | (129,573) | (170,369) |
| Cash at the beginning of the period | 849,761 | 650,666 |
| Cash at the end of the period | $ 720,188 | $ 480,297 |
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Condensed Balance Sheets (Unaudited) (USD $)
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Jun. 30, 2011
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Dec. 31, 2010
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|---|---|---|
| Current assets: | ||
| Cash | $ 720,188 | $ 849,761 |
| Net lease receivables due from Leasing Agent | 361,640 | 242,963 |
| Direct financing lease receivable, due from Leasing Agent within one year, net | 0 | 23,477 |
| Direct financing lease receivable held for sale, net | 57,201 | 0 |
| Container rental equipment held for sale, net of accumulated deprecation | 1,986,667 | 0 |
| Total current assets | 3,125,696 | 1,116,201 |
| Direct financing lease receivable, due from Leasing Agent after one year, net | 0 | 46,100 |
| Container rental equipment, at cost | 0 | 10,954,532 |
| Less accumulated depreciation | 0 | (8,579,045) |
| Net container rental equipment | 0 | 2,375,487 |
| Total assets | 3,125,696 | 3,537,788 |
| Partners' capital: | ||
| General partner | 2,602 | 4,757 |
| Limited partners | 3,123,094 | 3,533,031 |
| Total partners' capital | $ 3,125,696 | $ 3,537,788 |