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Form 10K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
|_| Annual report pursuant to section 13 or 15(d) of
the Securities Exchange Act of 1934 (fee required)
For the Year Ended December 31, 2000
OR
|X| Transition report pursuant to section 13 or 15(d)
of the Securities Exchange Act of 1934 (no fee
required) For the transition period from September
27, 2000 to December 31, 2000
Commission File number 333-47196
ATEL Capital Equipment Fund IX, LLC
California 94-3375584
---------- ----------
(State or other jurisdiction of (I. R. S. Employer
incorporation or organization) Identification No.)
235 Pine Street, 6th Floor, San Francisco, California 94104
-----------------------------------------------------------
(Address of principal executive offices)
Registrant's telephone number, including area code (415) 989-8800
Securities registered pursuant to section 12(b) of the Act: None
Securities registered pursuant to section 12(g) of the Act: None
Indicate by a 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. Yes |_| No |X|
State the aggregate market value of voting stock held by non-affiliates of the
registrant. Inapplicable
DOCUMENTS INCORPORATED BY REFERENCE
None
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K (ss.229.405) is not contained herein, and will not be
contained, to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-K
or any amendment to this Form 10-K. |X|
1
PART I
Item 1: BUSINESS
Not applicable
Item 2. PROPERTIES
Not applicable
Item 3. LEGAL PROCEEDINGS
Not applicable
Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
Not applicable
PART II
Item 5. MARKET FOR REGISTRANT'S LIMITED LIABILITY COMPANY UNITS
AND RELATED MATTERS
Not applicable
Item 6. SELECTED FINANCIAL DATA
Not applicable
Item 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
Not applicable
Item 7a. QUALITATIVE AND QUANTITATIVE DISCLOSURES ABOUT MARKET RISK
Not applicable
Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
See the Report of Independent Auditors, Financial Statements and Notes to
Financial Statements attached hereto at pages 3 through 5.
2
REPORT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS
The Members
ATEL Capital Equipment Fund IX, LLC
We have audited the accompanying balance sheet of ATEL Capital Equipment Fund
IX, LLC (a development stage enterprise) as of December 31, 2000, and the
related statements of changes in members' capital and cash flows for the period
from September 27, 2000 (inception) through December 31, 2000. These financial
statements are the responsibility of the Fund's management. Our responsibility
is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted
in the United States. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free
from material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements. An
audit also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable basis
for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of ATEL Capital Equipment Fund IX,
LLC (a development stage enterprise) at December 31, 2000, and its changes in
members' capital and cash flows for the period from September 27, 2000
(inception) through December 31, in conformity with accounting principles
generally accepted in the United States.
/s/ ERNST & YOUNG LLP
San Francisco, California
January 15, 2001
3
ATEL CAPITAL EQUIPMENT FUND IX, LLC
(A Development Stage Enterprise)
BALANCE SHEET
DECEMBER 31, 2000
ASSETS
Cash $600
========
LIABILITIES AND MEMBERS' CAPITAL
Members' capital:
Managing Member $100
Initial Member 500
--------
Total members' capital $600
========
STATEMENT OF CHANGES IN MEMBERS' CAPITAL
FOR THE PERIOD FROM SEPTEMBER 27, 2000 (INCEPTION)
THROUGH DECEMBER 31, 2000
Initial Member
-------------- Managing
Units Amount Member Total
Capital contributions 50 $500 $100 $600
============== =============== ============ ==========
STATEMENT OF CASH FLOWS
FOR THE PERIOD FROM SEPTEMBER 27, 2000 (INCEPTION)
THROUGH DECEMBER 31, 2000
Financing activities:
Capital contributions received $600
-------
Net increase in cash 600
-------
Cash at end of period $600
=======
See accompanying notes.
4
ATEL CAPITAL EQUIPMENT FUND IX, LLC
(A Development Stage Enterprise)
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2000
1. Organization and Limited Liability Company matters:
ATEL Capital Equipment Fund IX, LLC (a development stage enterprise) (the Fund)
was formed under the laws of the state of California on September 27, 2000 for
the purpose of acquiring equipment to engage in equipment leasing and sales
activities. The Fund may continue until December 31, 2019. Contributions in the
amount of $600 were received as of December 31, 2000, $100 of which represented
the Managing Member's continuing interest, and $500 of which represented the
Initial Member's capital investment.
As of December 31, 2000, the Fund had not commenced operations other than those
relating to organizational matters. The Fund, or the Managing Member on behalf
of the Fund, will incur costs in connection with the organization, registration
and issuance of the Limited Liability Company Units (Units). The amount of such
costs to be born by the Fund is limited by certain provisions of the Fund's
Operating Agreement.
2. Income taxes:
The Fund does not provide for income taxes since all income and losses are the
liability of the individual members and are allocated to the members for
inclusion in their individual tax returns.
3. Members' capital:
As of December 31, 2000, 50 Units were issued and outstanding. The Fund is
authorized to issue up to 15,000,000 additional Units.
The Fund's Net Income, Net Losses, and Distributions are to be allocated 92.5%
to the Members and 7.5% to the Managing Member.
4. Commitments and management:
The terms of the Operating Agreement provide that the Managing Member and/or
affiliates are entitled to receive certain fees, in addition to the allocations
described above, which are more fully described in Section 8 of the Fund's
Operating Agreement. The additional fees to management include fees for
equipment management and resale.
5
Item 9. CHANGES IN AND DISAGREEMENTS WITH AUDITORS ON
ACCOUNTING AND FINANCIAL DISCLOSURES
Not applicable
PART III
Item 10. DIRECTORS AND EXECUTIVE OFFICERS
Not applicable
Item 11. EXECUTIVE COMPENSATION
Not applicable
Item 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT
Not applicable
Item 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
Not applicable
PART IV
Item 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS
ON FORM 8-K
(a)Financial Statements and Schedules
1. Financial Statements
Included in Part II of this report:
Report of Independent Auditors
Balance Sheet at December 31, 2000
Statement of Changes in Members' Capital for the
period from September 27, 2000 (inception)
through December 31, 000
Statement of Cash Flows for the period from
September 27, 2000 (inception) through December
31, 2000
Notes to Financial Statements
2. Financial Statement Schedules
Allschedules for which provision is made in the
applicable accounting regulations of the
Securities and Exchange Commission are not
required under the related instructions or are
inapplicable and, therefore, have been omitted.
(b)Reports on Form 8-K for the fourth quarter of 2000
Not applicable
(c)Exhibits
None
6
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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: 7/16/2001
ATEL Capital Equipment Fund IX, LLC
(Registrant)
By: ATEL Financial Corporation,
Managing Member of Registrant
By: /s/ Dean L. Cash
------------------------------------------
Dean Cash
President of ATEL Financial Corporation
(Managing Member)
By: /s/ Paritosh K. Choksi
------------------------------------------
Paritosh K. Choksi
Executive Vice President of ATEL Financial
Corporation (Managing Member)
7
Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the persons in the capacities and on the dates
indicated.
SIGNATURE CAPACITIES DATE
/s/ Dean L. Cash President, Chairman and Chief Executive 7/16/2001
- ------------------------- Officer of ATEL Financial Corporation
Dean Cash
/s/ Paritosh K. Choksi Principal financial officer of 7/16/2001
- ------------------------- registrant; principal financial officer
Paritosh K. Choksi and director of ATEL Financial Corporation
/s/ Donald E. Carpenter Principal accounting officer of registrant; 7/16/2001
- ------------------------- principal accounting officer of ATEL
Donald E. Carpenter Financial Corporation