SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): November 1, 1999
INTELIDATA TECHNOLOGIES CORPORATION
(Exact Name of Registrant as Specified in Charter)
DELAWARE 000-21685 54-1820617
(State of Incorporation) (Commission File Number) (IRS Employer
Identification No.)
11600 SUNRISE VALLEY DRIVE
SUITE 100
RESTON, VIRGINIA 20191
(Address of principal executive offices)
(703) 259-3000
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS.
InteliData Technologies Corporation, a Delaware corporation
("InteliData"), is filing the attached September 30, 1999 unaudited balance
sheet, with pro forma adjustments reflecting significant events and transactions
occurring on or before October 31, 1999, solely at the request of the Nasdaq
Listing Qualifications Panel (the "Panel"). Such balance sheet reflects that
InteliData has in excess of $7,000,000 of net tangible assets as of the date
hereof, as required by the Panel for InteliData's securities to continue to be
listed on the Nasdaq National Market ("Nasdaq") at this time.
InteliData has previously reported the potential sale of up to
$4,000,000 of preferred stock with terms substantially similar to the Series B
Convertible Preferred Stock issued in July 1999. InteliData has determined not
to issue such additional preferred stock, given its cash position and its
ability to otherwise satisfy the Panel's requirements for continued listing on
Nasdaq.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
AND EXHIBITS.
(c) Exhibits.
The following exhibits are filed herewith in accordance with the
provisions of Item 601 of Regulation S-K.
99.1 Unaudited consolidated balance sheet as of September 30, 1999.
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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.
INTELIDATA TECHNOLOGIES CORPORATION
(Registrant)
BY: /S/ Alfred S. Dominick, Jr.
---------------------------
Alfred S. Dominick, Jr.
President and Chief Executive Officer
Date: November 1, 1999
INTELIDATA TECHNOLOGIES CORPORATION
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
SEPTEMBER 30, 1999 AND DECEMBER 31, 1998
(in thousands, except share data)
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1999 1998
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ASSETS
CURRENT ASSETS
Cash and cash equivalents $ 10,399 $ 8,050
Accounts receivable, net of allowances of $585
in 1999 and $592 in 1998 3,222 2,113
Prepaid expenses and other current assets 5 143
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Total current assets 13,626 10,306
NONCURRENT ASSETS
Property and equipment, net 214 348
Other assets 175 257
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TOTAL ASSETS $ 14,015 $ 10,911
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LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable $ 1,626 $ 1,344
Accrued expenses and other liabilities 1,503 910
Deferred revenues 1,836 3,056
Net liabilities of discontinued operations 1,850 5,270
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Total current liabilities 6,815 10,580
NONCURRENT LIABILITIES
Deferred revenues - -
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TOTAL LIABILITIES 6,815 10,580
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Preferred stock, $0.001 par value; authorized 5,000,000 shares;
600 shares issued and 520 outstanding -- --
Common stock, $0.001 par value; authorized 60,000,000 shares;
issued 34,011,079 shares in 1999 and 32,293,005, shares in 1998;
outstanding 33,329,579 shares in 1999 and 31,611,505 in 1998 34 32
Additional paid-in capital 257,680 247,359
Treasury stock, at cost (2,064) (2,064)
Deferred compensation (217) (152)
Accumulated deficit (248,233) (244,844)
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TOTAL STOCKHOLDERS' EQUITY 7,200 331
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TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 14,015 $ 10,911
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