<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB/A
[x] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934.
For the quarterly period ended March 31, 1998.
[ ] 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: 0-22421
MD HealthShares Corporation
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(Exact Name of Small Business Issuer as Specified in Its Charter)
Louisiana 72-1301480
--------------------------------- --------------------------------
(State or Other Jurisdiction of (IRS Employer Identification No.)
Incorporation or Organization)
12021 Bricksome Avenue, Baton Rouge, Louisiana 70816
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(Address of Principal Executive Offices)
(504) 293-3272
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(Issuer's Telephone Number, Including Area Code)
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(Former Name, Former Address and Former Fiscal Year,
if changed since Last Report)
Indicate by check mark whether the issuer: (1) filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
past 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 number of shares outstanding of each of the issuer's common equity, as
of the latest practicable date:
As of March 31, 1998, 1,076,200 shares of the Registrant's Class A Non-Voting
Common Stock and 1 share of the Registrant's Class B Common Stock were
outstanding.
Transitional Small Business Disclosure Format (check one) Yes [X] No [ ]
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PART II
OTHER INFORMATION
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.
(a) Exhibits. The Company files the following exhibits:
6(l) Letter employment contract dated March 13, 1998 by and between MD
HealthShares Corporation and Adam Short (previously filed).
27 Financial Data Schedule.
(b) Reports on Form 8-K. No reports on Form 8-K were filed during the three
months ended March 31, 1998.
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
MD HEALTHSHARES CORPORATION
Date: November 19, 1998 /s/ Patrick C. Powers
-----------------------------
Patrick C. Powers
Chief Executive Officer
Date: November 19, 1998 /s/ Adam Short
-----------------------------
Adam Short
Chief Financial Officer
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM 10-QSB 3/98
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C> <C>
<PERIOD-TYPE> 3-MOS 3-MOS
<FISCAL-YEAR-END> DEC-31-1998 DEC-31-1997
<PERIOD-START> JAN-01-1998 JAN-01-1997
<PERIOD-END> MAR-31-1998 MAR-31-1997
<CASH> 1,024,119 1,408,901
<SECURITIES> 5,098,845 4,840,825
<RECEIVABLES> 84,955 79,649
<ALLOWANCES> 0 0
<INVENTORY> 0 0
<CURRENT-ASSETS> 6,266,550 6,424,893
<PP&E> 74,495 75,971
<DEPRECIATION> 38,844 30,429
<TOTAL-ASSETS> 7,376,115 7,536,242
<CURRENT-LIABILITIES> 656,273 269,784
<BONDS> 0 0
0 0
2,155 2,152
<COMMON> 107,620 107,500
<OTHER-SE> 6,610,067 7,156,806
<TOTAL-LIABILITY-AND-EQUITY> 7,376,115 7,536,242
<SALES> 686,175 1,310
<TOTAL-REVENUES> 769,449 125,902
<CGS> 583,249 1,126
<TOTAL-COSTS> 1,409,641 885,154
<OTHER-EXPENSES> 0 0
<LOSS-PROVISION> 0 0
<INTEREST-EXPENSE> 0 0
<INCOME-PRETAX> (640,192) (759,252)
<INCOME-TAX> 0 0
<INCOME-CONTINUING> (640,192) (759,252)
<DISCONTINUED> 0 0
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> (640,192) (759,252)
<EPS-PRIMARY> (.60) (.71)
<EPS-DILUTED> 0 0
</TABLE>
