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Previous: SOLUTIA INC, DEF 14A, 1999-03-15 |
Next: LETS TALK CELLULAR & WIRELESS INC, 10-Q, 1999-03-15 |
<PAGE> 1
UNITED STATES
SECURITIES 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
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) MARCH 15, 1999
LET'S TALK CELLULAR & WIRELESS, INC.
- --------------------------------------------------------------------------------
(Exact Name of Registrant as Specified in its Charter)
FLORIDA 0-23351 65-0292891
- --------------------------------------------------------------------------------
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification Number)
800 BRICKELL AVE., STE. 400
MIAMI, FL 33131 33131
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (305) 358-8255
--------------
- --------------------------------------------------------------------------------
(Former name, former address and fiscal year, if changed since last report.)
<PAGE> 2
Item 5. OTHER EVENTS.
The following Consolidated Balance Sheet as of February 28, 1999 is
being filed by the Registrant at the request of the Nasdaq National Market:
LET'S TALK CELLULAR & WIRELESS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
<TABLE>
<CAPTION>
FEBRUARY 28,
1999
-----------
(UNAUDITED)
<S> <C>
ASSETS
Current assets:
Cash and cash equivalents $ 2,420,628
Accounts receivable, net 20,905,670
Inventories 20,024,039
Prepaid expenses 554,811
Deferred tax asset 836,806
-----------
Total current assets 44,741,954
Property and equipment, net 12,758,183
Other assets, net 1,139,238
Intangible assets, net 36,149,125
-----------
Total assets $94,788,500
===========
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Trade accounts payable $17,358,198
Bank lines of credit 10,428,609
Accrued expenses 6,170,964
Current portion of bank term loan and obligations under capital leases 2,748,917
Income taxes payable 1,427,897
Deferred revenues 1,247,828
Customer deposits 221,111
-----------
Total current liabilities 39,603,524
Bank term loan, less current portion 17,750,000
Obligation under capital leases, less current portion 442,971
Other liabilities 523,762
Deferred tax liability 423,978
Commitments and contingencies
Shareholders' equity:
Preferred stock, $.01 par value, 1,000,000 shares authorized, none issued
and outstanding --
Common stock, $.01 par value, 50,000,000 shares authorized, 8,749,762
shares issued and outstanding 87,498
Additional paid-in capital 33,716,669
Retained earnings 2,240,098
-----------
Total shareholders' equity 36,044,265
-----------
Total liabilities and shareholders' equity $94,788,500
===========
</TABLE>
-2-
<PAGE> 3
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.
LET'S TALK CELLULAR & WIRELESS, INC.
(Registrant)
March 15, 1999 By: /s/ David Eisenberg
------------------------------------------
DAVID EISENBERG
Chief Executive Officer and Co-Chairman of
the Board
March 15, 1999 By: /s/ Brett Beveridge
------------------------------------------
BRETT BEVERIDGE
President and Co-Chairman of the Board
March 15, 1999 By: /s/ Dan Cammarata
------------------------------------------
DAN CAMMARATA
Chief Financial Officer
-3-
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