<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
(Mark One)
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended
June 30, 2000
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR
15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from
to
Commission file number 0-29049
RHOMBIC CORPORATION
(Exact name of registrant as specified in its charter)
Nevada 86-0824125
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
11811 N. Tatum Blvd. # 3031
Phoenix, Arizona 85028
(Address of principal executive offices (zip code))
(604) 683-4864
(Registrant's telephone number, including area code)
Indicate by check mark whether the registrant (1) filed all reports required to
be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the last 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 X No
Indicate the number of shares outstanding of each of the issuer's classes of
common equity, as of the latest practicable date.
Class Outstanding at June 30, 2000
Common Stock, par value $0.001 34,736,100
<PAGE>
RHOMBIC CORPORATION
QUARTERLY REPORT ON FORM 10Q-SB
PART I -- FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
PART 2 - OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
ITEM 2. CHANGES IN SECURITIES
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
ITEM 5. OTHER INFORMATION
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
SIGNATURES
<PAGE>
RHOMBIC CORPORATION
CONSOLIDATED BALANCE SHEET
( A Development Stage Company)
June 30, 2000
(Unaudited)
================================================================================
ASSETS
CURRENT ASSETS:
Cash $ 183,189
Receivables -
Prepaid expenses 121,893
--------------------
Total Current Assets 305,082
--------------------
OTHER ASSETS:
Investments 217,756
Licensing Agreements and Technologies 2,005,350
Patents 62,298
--------------------
Total assets $2,590,486
====================
LIABILITIES
CURRENT
Accounts Payable $ 41,837
Due to related party 14,826
--------------------
56,663
STOCKHOLDERS' EQUITY
Preferred stock, $.001 par value,
1,000,000 shares authorized, none issued
Common stock, $.001 par value, 70,000,000
shares authorized, 34,736,100 issued and
outstanding 34,736
Additional paid-in capital 6,038,346
(Deficit) accumulated during the development stage (3,539,259)
--------------------
Total stockholders' equity 2,533,823
--------------------
Total liabilities and stockholders' equity $2,590,486
====================
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
<PAGE>
RHOMBIC CORPORATION
(A Development Stage Company)
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
<TABLE>
<CAPTION>
Cummulative from
November 21, 1994
For the 6 months ended For the 3 months ended (Inception ) to
June 30,2000 June 30,1999 June 30,2000 June 30,1999 June 30,2000
-------------------------------- ------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Royalty income $ - $ - $ - $ - $ 5,729
Interest income 2,502 - 1,295 - 3,687
-------------------------------- ------------------------------------------------------
2,502 - 1,295 - 9,416
EXPENSES
Research and development expense 322,658 99,058 187,208 60,426 514,164
Legal & accounting 168,653 69,216 6,348 45,070 486,519
Transfer Agent Expenses 4,460 8,500 1,250 5,000 27,115
Consulting, related party 45,000 45,000 22,500 22,500 352,000
Consulting 52,295 38,163 37,574 34,029 1,000,194
Other general & administrative 869,840 11,228 601,875 6,120 1,168,683
-------------------------------- ------------------------------------------------------
Total Expenses 1,462,906 271,165 856,755 173,145 3,548,675
NET (LOSS) $ (1,460,404) $ (271,165) $ (855,460) $ (173,145) $ (3,539,259)
================================ ======================================================
NET LOSS PER SHARE:
Basic $ (0.04) * $ (0.03) *
================================ ================================
Diluted $ (0.04) $ * $ (0.03) $ *
================================ ================================
WEIGHTED AVERAGE SHARES OUTSTANDING:
Basic 34,349,562 28,696,578 34,071,265 27,372,711
================================ ================================
Diluted 34,349,562 28,696,578 34,071,265 27,372,711
================================ ================================
</TABLE>
* Loss is less than $.01 per share
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
<PAGE>
RHOMBIC CORPORATION
( A Development Stage Company)
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
(Unaudited)
<TABLE>
<CAPTION>
(Deficit)
Common Stock Accumulated
------------------------------- Additional During
Paid-In Development
Shares Amount Capital Stage Total
--------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Balance at December 31, 1999 33,741,100 $ 33,741 $4,580,750 $ (2,078,855) $2,535,636
Acquisition of technology 100,000 100 281,150 281,250
Shares issued to acquire Emerald Investments 200,000 200 (200) 0
Shares issued for services 75,000 75 214,350 214,425
Exercise of stock options 170,000 170 107,080 107,250
Net loss for the quarter ended March 31, 2000 (604,944) (604,944)
--------------------------------------------------------------------------------
Balance at March 31, 2000 34,286,100 34,286 5,183,130 (2,683,799) 2,533,617
Acquisition of technology 100,000 100 194,150 194,250
Shares issued for services 350,000 350 661,066 661,416
Net loss for the quarter ended June 30, 2000 (855,460) (855,460)
--------------------------------------------------------------------------------
34,736,100 $34,736 $6,038,346 ($3,539,259) $2,533,823
================================================================================
</TABLE>
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
<PAGE>
RHOMBIC CORPORATION
(A Devlopment Stage Company)
CONSOLIDATED STATEMENTS OF CASH FLOW
(Unaudited)
<TABLE>
<CAPTION>
For the six months For the three months Cummulative from
ended June 30, ended June 30, November 21, 1994
------------------------- ------------------------ (Inception ) to
2000 1999 2000 1999 June 30, 2000
---- ---- ---- ---- ---------------------
<S> <C> <C> <C> <C> <C>
OPERATING ACTIVITIES
Net (loss) income for the period $(1,460,404) $(271,165) $(855,460) $(173,145) $ (3,539,259)
Adjustments to reconcile net
cash used by operations:
Common stock issued for services 875,841 42,824 661,416 42,824 1,476,172
Fair value of options granted - - 436,980
(Increase) decrease in accounts receivable 15,103 2,440 3,219 2,517 -
(Increase) decrease in prepaid expenses 78,107 - (60,892) - (121,893)
Increase (decrease) in accounts payable (563) (17,000) (2,498) (45,617) 41,837
Increase (decrease) in due to related parties 18,619 75,664 7,513 24,394 14,826
----------------------------------------------------------------------------
Net Cash (Used) by Operating Activities (473,297) (167,237) (246,702) (149,027) (1,691,337)
FINANCING ACTIVITIES
Proceeds from private placements - 718,717 - 88,917 1,347,830
Proceeds from private placements held in trust - (495,606) - 107,519 -
Proceeds from exercise of stock options 107,250 - - - 806,750
----------------------------------------------------------------------------
Cash provided from financing activities 107,250 223,111 - 196,436 2,154,580
----------------------------------------------------------------------------
INVESTING ACTIVITIES
Cost of patents (8,316) (14,000) (7,525) (5,000) (62,298)
Investment in Rockford Technologies - (40,719) - (40,719) (207,756)
Investment in marketable securities - - - - (10,000)
----------------------------------------------------------------------------
Cash used in investment activities (8,316) (54,719) (7,525) (45,719) (280,054)
----------------------------------------------------------------------------
Increase in cash (374,363) 1,155 (254,227) 1,690 183,189
Cash at beginning of period 557,553 4,660 437,417 4,125 -
----------------------------------------------------------------------------
Cash at end of period $ 183,190 $ 5,815 $ 183,190 $ 5,815 $ 183,189
============================================================================
<CAPTION>
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES
<S> <C> <C> <C> <C> <C>
Issuance of common stock for licensing agreements $475,500 $61,200 $194,250 $60,000 $2,005,350
and technologies ============================================================================
</TABLE>
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
<PAGE>
RHOMBIC CORPORATIO
(A DEVELOPMENT STAGE COMPANY)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
SIX MONTHS ENDED JUNE 30, 2000
The unaudited financial statements included herein were prepared from
the records of the Company in accordance with Generally Accepted Accounting
Principles. These financial statements reflect all adjustments which are, in the
opinion of management, necessary to provide a fair statement of the results of
operations and financial position for the interim periods. Such financial
statements generally conform to the presentation reflected in the Company's
Forms 10-KSB and 10-KSB/A filed with the Securities and Exchange Commission for
the year ended December 31, 1999. The current interim period reported herein
should be read in conjunction with the Company's Forms 10-KSB and 10-KSB/A
subject to independent audit at the end of the year.
The results of operations for the six months ended June 30, 2000 are
not necessarily indicative of the results that may be expected for the year
ending December 31, 2000.
Acquisition of Emerald Acquisition Corporation
Pursuant to an Agreement and Plan of Reorganization (the "Acquisition
Agreement") Rhombic Corporation (the "Company") acquired all the outstanding
shares of common stock of Emerald Acquisition Corporation ("Emerald"), a
Delaware corporation, from the shareholder thereof in an exchange for an
aggregate of 200,000 restricted shares of common stock of the Company (the
"Acquisition"). As a result, Emerald became a wholly-owned subsidiary of the
Company. The Acquisition was effective on January 20, 2000. Upon effectiveness
of the Acquisition, pursuant to Rule 12g-3(a) of the General Rules and
Regulations of the Securities and Exchange Commission, Rhombic became the
successor issuer to Emerald for reporting purposes under the Securities Exchange
Act of 1934.
Acquisition of Intellectual Property and Technologies
On January 3, 2000, the Company issued 100,000 shares of its common
stock at a deemed value of $281,250 and an option to purchase 50,000 shares of
the Company's common stock at $1.00 per share exercisable until
<PAGE>
December 31, 2000 for the acquisition of the rights, title and interest to the
invention called the "Micro Wave Driven Ultra Violet Lamp" or "Excimer Lamp."
The inventor and seller of this device, Rosemary Roberts, agreed to provide
technical support for the research and development of the Excimer Lamp when such
development takes place.
On April 12, 2000, the Company issued 100,000 shares of its common
stock at a deemed value of $194,250 for the patent rights, title and interest to
an invention called the "LENR/DCM". The invention is a defined process to
convert the long-lived nuclear wastes by low energy nuclear reactions using
hydrogen in host metals. The inventor and seller, Dr. Heinrich Hora, will
provide reasonable technical support for the research and development of the
technology when such development takes place.
Prepaid Expenses
On June 15, 2000 the Company entered into an agreement with Vision Magnetics
Corporation "Vision", to manufacture, market and sub-license its Magnesite
Retriever software program. The Company will split the costs of manufacturing
with Vision and receive $10.00 for each sub-license sold. Rhombic paid Vision $
67,250 to design and package 50,000 copies of the program on floppy disks for
sale.
The Company also has prepaid $17,271 for legal and patent costs and $37,372 for
administrative services.
Stockholders' Equity
On February 2, 2000, the Company issued 75,000 restricted shares of
common stock to Lawrence Adams Ltd. in consideration and reimbursement of
expenses for investor relations services in the United States. The deemed value
of the shares issued was $214,425 which was determined based upon the trading
value of the Company's common stock at the time of the issuance of the stock and
the agreement. On April 12, 2000 an additional 250,000 restricted shares of
common stock were issued to Lawrence Adams Ltd. for additional investor relation
services pertaining to the dissemination of information on the Company's
technologies. The deemed value of the shares issued was $ 527,344 which was
determined based upon the trading value of the Company's common stock at the
time of the issuance of the stock.
On April 12, 2000 the Company issued a total of 25,000 restricted
shares of common stock to a director for office expense reimbursement for the
year 2000 and 50,000 restricted shares of common stock to a consultant for the
preparation of a business plan to form a business venture to develop and
commercialize the Inertial Electrostatic Confinement Technology. The deemed
value of the shares issued were $ 30,562 and $ 61,125, respectively based upon
the trading value of the Company's stock at the time of the issuance of the
stock.
Stock Options
Rhombic's Board of Directors approved a stock option plan for the year
2000 to authorize the issuance of options for the purchase of 2,500,000 shares
of common stock. During the six months ended June 30,2000, the Company issued
options exercisable to purchase 1,550,000 shares of the Company's common stock
under the year 2000 plan at an average exercise price of $2.52 per share.
There are granted and unexercised options for the purchase of 250,000
shares of the Company's common stock under the 1999 stock option plan at an
average exercise price of $.80 per share.
There is a total of granted and unexercised outstanding options under
the 1999 and 2000 plans for the purchase of 1,800,000 shares of the Company's
common stock at an average exercise price of $2.28 per share.
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
The following discussion is intended to provide an analysis of the Company's
financial condition and Plan of Operation and should be read in conjunction with
the Company's financial statements and the notes thereto. The matters discussed
in this section that are not historical or current facts deal with potential
future circumstances and developments. Such forward-looking statements include,
but are not limited to, the development plans for the technologies of the
Company, trends in the results of the Company's development, anticipated
development plans, operating expenses and the Company's anticipated capital
requirements and capital resources. The Company's actual results could differ
materially from the results discussed in the forward-looking statements.
The Company has not generated revenue from operations during the first six
months of 2000 or since its inception. The Company anticipates generating
revenues during the year 2000 from its Magnesite Retriever.
During April 2000, the Company finished core programming of its Magnesite
Retriever (the "Magnesite"). The Magnesite is a software program designed to
economize on Internet search and data download costs. It creates site
directories and translates hypertext references, making the information fully
useable offline. The development of the Magnesite is interrelated with the
Company's efforts to develop and launch the Rhombic Explorer, a personal
Internet search engine. Currently, the Company and its strategic marketing
partner, Vision Magnetics, are conducting quality assurance testing on the
Magnesite code to ensure product reliability and to allow for expansion of
Magnesite into Magnesite Pro. Vision has contracted with programmers to create a
new website for Rhombic to sell, deliver and maintain user registration and
update information as well as hard delivery of diskettes containing Magnesite
code to end users. Furthermore, Vision and Rhombic have contracted with
programmers for the final development of Rhombic Explorer which has been renamed
Magnesite Pro. Rhombic anticipates sales of Magnesite to begin within the third
quarter of this year. Sales of Magnesite Pro are anticipated to commence during
the first quarter of 2001. The Company incurred $22,438 in programming costs
during the six months ended June 30, 1999.
During the second quarter of this year, the Company paid $22,000 in cash and
issued 50,000 restricted common shares to a consultant to prepare a business
plan to develop and commercialize the Inertial Electrostatic Confinement
technology.
Research on the technology began during 1993 under a licensing agreement between
Daimler-Benz Aerospace (DASA), the University of Illinois and Rockford
Technology Associates (a wholly owned subsidiary of Rhombic). The development
program objective was to develop a neutron generator for multiple applications.
The development program has successfully developed a neutron generator that has
been in continuous operation for over 2,000 hours as of July 2000 thereby
qualifying it to power letter and parcel bomb detectors. DASA anticipates that
the 4,000 hour milestone will be achieved in October 2000 and thereby surpass
all known existing competitors. It is anticipated that the 10,000 hour milestone
will be achieved by June 2001 thereby opening a wide variety of cost effective
detection applications for the industrial world such as:
a. medical cancer treatments
b. bulk foodstuffs quality control
c. On-line measurement of coal quality at the power station for
combustion emission control.
d. On-line measurement of mineral quality in the mining industry.
e. Land mine detection
The Company is also pursuing the commercialization of the following four
applications of its Diamond Film Forced Diffusion technology:
1. A Silicon-Carbide purification technology for the high-tech
manufacturing industry,
2. An integrated Diamond Circuit for the computer and electronics industry,
<PAGE>
3. A Heavy Doped Diamond Fuel-Cell Electrode for the fuel cell industry,
4. Quality colored diamonds for the high-end jewelry accessory market.
During the six months ended June 30, 2000, the Company paid the University of
Missouri $160,000 for research and development work on the above applications.
During the first quarter 2000 approximately $85,000 was spent to build three
second generation forced diffusion reactors. One reactor will be used for the
n-type diamond material, one reactor for p-type materials and the third reactor
for purification of crystals. Also, a high voltage Silicon Carbide purification
reactor was built. This reactor will enhance the impurities removal rate from
Silicon Carbide materials.
During the second quarter 2000 the Company paid the University of Missouri
$80,000 to begin designing a third generation reactor capable of handling larger
silicon wafers with a higher impurity transport rate.
The Company agreed to pay International Computer and Communication Corporation
("IC&C") $80,000, of which it paid $42,000, to prepare a business and
development plan that would include identifying the markets for the various
battery technologies of the Company with a recommendation for the development of
specific battery configurations, preparing a development budget to build a
prototype model battery for the marketplace including costs of labor, materials
and estimated time of development, and suggesting a marketing plan to attract
prospective buyers and reflect their technical requirements for the developed
battery.
During January 2000, the Company issued 100,000 shares of its common stock at a
deemed value of $281,250 and an option to purchase 50,000 shares of the
Company's common stock at $1.00 per share exercisable until December 31, 2000
for the acquisition of the rights, title and interest to the invention called
the "Micro Wave Driven Ultra Violet Lamp" or "Excimer Lamp." The Company agreed
to pay all additional research, development and technology protection expenses.
A potential application of this invention may include enhancing the growth rate
of plants in commercial greenhouse settings from the light spectrum produced by
the lamp.
On April 12, 2000, the Company issued 100,000 shares of its common stock at a
deemed value of $194,250 for the patent rights, title and interest to an
invention called the "LENR/DCM". The invention is a defined process to convert
the long-lived nuclear wastes by low energy nuclear reactions using hydrogen in
host metals. The inventor and seller, Dr. Heinrich Hora, will provide reasonable
technical support for the research and development of the technology when such
development takes place.
During the six months ended June 30, 1999, the Company applied approximately
$99,058 toward development of three main technologies, including the Diamond
Film Forced Diffusion technology, the Nuclide Battery and the Rhombic Explorer.
The Company spent an additional sum of $90,116 on research and development of
applications of these technologies during the remaining six months of 1999. The
result of the expenditures enabled the Company to define work programs necessary
to develop commercial applications of the Diamond Film Forced Diffusion
technology, to bring the Rhombic Explorer software development toward
completion, and to determine that a professional consulting firm was needed to
determine a development plan for the Nuclide Battery technologies of the
Company.
The estimated annual cash expenditures for general and administrative expenses
of the Company during the year 2000 was estimated at $200,000, including the
services of Owen & Associates.
During the first six months of 2000, operating cash expenditures consisted
primarily of general and administrative expenses and were approximately $97,509.
Operating cash expenditures were approximately $11,000 for the first six months
of 1999. The operating cash expenditures were higher in the six months ended
June 30, 2000 due to the coordination activities in the development of the
technologies and responding to shareholder inquiries.
At June 30, 2000, the Company had $183,189 in cash, as compare to $557,553 at
December 31, 1999.
<PAGE>
The Company will need to raise additional financing over the next twelve months
to continue development work and to pay its general and administrative expenses.
In addition to the Company's 1999 stock option plan, the Company's Board of
Directors approved a stock option plan for the year 2000 to authorize the
issuance of options for the purchase of 2,500,000 shares of common stock. During
the first quarter of 2000, the Company issued options under the year 2000 plan
for the purchase 1,550,000 share of its common stock at an average exercise
price of $2.52 per share.
There is a total of granted and unexercised outstanding options under the 1999
and 2000 plans for the aggregate purchase of 1,800,000 shares of the Company's
common stock at an average exercise price of $2.28 per share. If all outstanding
options are exercised under both plans, of which there is no assurance, the
Company would receive a total of $4,100,000 of which $2,550,000 is exercisable
by December 31, 2000 and the remaining $1,550,000 by December 31, 2002. No
assurances can be made as to whether any of the options will be exercised.
Management of the Company is in the process of preparing a development budget
and commercial feasibility study for specific applications of its technologies.
Once the development budget is determined, the Company anticipates raising the
necessary capital to develop its targeted technologies and general and
administrative expenses through a registered public offering.
On April 27, 2000, the Company's common shares began trading on the Frankfurt
Stock Exchange in Frankfurt, Germany under the symbol "919335."
The Company does not have any employees and uses consultants for matters
pertaining to coordinating technology development and administration. The
Company may hire employees during the next twelve months depending upon its
success in developing prototype applications for sale and financing more
development.
This report contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, and Section 21E of the Exchange Act of 1934.
Although the Company believes that the expectations reflected in the
forward-looking statements and the assumptions upon which the forward-looking
statements are based are reasonable, it can give no assurance that such
expectations and assumptions will prove to be correct.
PART II -- OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
There are no legal proceedings against the Company and the Company is
unaware of any proceedings contemplated against it.
ITEM 2. CHANGES IN SECURITIES
The following information is given with respect to all unregistered
securities sold or issued by the Company in the period covered by this report:
(1) On April 12, 2000 the Company issued 25,000 restricted common
shares for consulting services pertaining to the evaluation of technology
acquisitions. The deemed value of the shares issued was $42,188 which was
determined based upon the trading value of the Company's common stock at the
time of the issuance of the stock and the agreement.
(2) On April 12, 2000, the Company issued 100,000 restricted common
shares at a deemed value of $194,250 at the time of the issuance of the stock
for the patent rights, title and interest to an invention called the "LENR/DCM".
<PAGE>
The invention is a defined process to convert the long-lived nuclear wastes by
low energy nuclear reactions using hydrogen in host metals. The inventor and
seller, Dr. Heinrich Hora, will provide reasonable technical support for the
research and development of the technology when such development takes place.
(3) On April 12, 2000 the Company issued 250,000 restricted shares of
common stock to Lawrence Adams Ltd. for investor relation services pertaining to
the dissemination of information on the Company's technologies. The deemed value
of the shares issued was $ 527,344 which was determined based upon the trading
value of the Company's common stock at the time of the issuance of the stock.
(4) On April 12, 2000 the Company issued a total of 25,000 restricted
shares of common stock to a director for office expense reimbursement for the
year 2000 and 50,000 restricted shares of common stock to a consultant for the
preparation of a business plan to form a business venture to develop and
commercialize the Inertial Electrostatic Confinement Technology. The deemed
value of the shares issued were $ 30,562 and $ 61,125, respectively based upon
the trading value of the Company's stock at the time of the issuance of the
stock.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
Not applicable.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
Not applicable.
ITEM 5. OTHER INFORMATION
Not applicable.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits
Item 10. Stock Option plan adopted by the Board of Directors
of the Company filed on May 17, 2000 on Form 10Q-SB for the
three months ended March 31, 2000, and incorporated herein by
reference.
(b) Reports on Form 8-K
On April 6, 2000, the Company filed an amended Current Report
on Form 8-K/A that included audited financial statements for
the Company.
<PAGE>
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 thereunto duly authorized.
RHOMBIC CORPORATION
By: /s/ Albert Golusin
Chief Financial Officer
Dated: August 21, 2000
