|
|
|
|
|
|
|
|
|
|
Previous: CAPSTAR HOTEL CO, S-4, 1997-09-16 |
Next: BANKAMERICA MORTGAGE SECURITIES INC, 8-K, 1997-09-16 |
<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
July 31, 1997
Date of Report (Date of earliest event reported)
BOREALIS TECHNOLOGY CORPORATION
(Exact name of registrant as specified in its charter)
<TABLE>
<CAPTION>
<S> <C> <C>
Delaware 0-28556 88-0238203
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer Identification
incorporation) No.)
</TABLE>
4070 Silver Sage Drive
Carson City, Nevada 89701
(Address of principal executive offices)
(702) 888-3222
(Registrant's telephone number, including area code)
<PAGE> 2
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
The following financial statements are filed as part of this
report:
Unaudited balance sheet as of July 31, 1997.
<PAGE> 3
BOREALIS TECHNOLOGY CORPORATION
CONDENSED BALANCE SHEET
July 31, 1997
(Unaudited)
<TABLE>
<S> <C>
ASSETS
Current Assets:
Cash and cash equivalents $ 4,038,695
Accounts receivable --
Certificate of deposit 650,000
Other current assets 224,332
------------
Total current assets 4,913,027
Property and equipment, net 920,070
Other assets 47,539
------------
Total assets $ 5,880,636
============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 628,624
Accrued employee compensation 358,710
Bank term loans 1,150,000
Other current liabilities 729,938
------------
Total current liabilities 2,867,272
Long-term obligations 25,855
------------
Total liabilities 2,893,127
------------
Stockholders' equity:
Preferred stock, $.001 par value;
Authorized shares -- 5,000,000
Issued and outstanding -- none
Common stock, $.001 par value;
Authorized shares -- 10,000,000
Issued and outstanding shares -- 3,184,506 and 4,612,644
at December 31, 1996, and July 31, 1997 4,613
Additional paid-in capital 14,823,313
Accumulated deficit (11,840,417)
------------
Total stockholders' equity 2,987,509
------------
Total liabilities and stockholders' equity $ 5,880,636
------------
</TABLE>
<PAGE> 4
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 hereunto duly authorized.
BOREALIS TECHNOLOGY CORPORATION
Dated: September 16, 1997 By: /s/ JACK MURPHY
------------------------------------
Jack Murphy
President and Chief Executive
Officer
|
|