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Previous: BRADLEY ALEC CIGAR CORP/FL, 10SB12G, EX-27, 2000-12-19 |
Next: AVALON HOLDINGS CORP, 8-K, 2000-12-19 |
<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q/A
Amendment No. 1
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934.
For the quarterly period ended October 31, 2000
[ ] TRANSITION REPORTS PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934.
For the transition period from to .
---------------------- ----------------------
COMMISSION FILE NUMBER: 0-25169
GENEREX BIOTECHNOLOGY CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 82-0490211
-------------------------------- ---------------------------------
(State of other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
33 HARBOR SQUARE, SUITE 202
TORONTO, ONTARIO
CANADA M5J 2G2
(Address of principal executive offices)
416/364-2551
(Registrant's telephone number, including area code)
Not applicable
--------------------------------------------------------------------------------
(Former name, former address and former fiscal year
if changed since last report)
Indicate by check mark whether the registrant (1) has filed all reports required
by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 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. [X] Yes [ ] No
APPLICABLE ONLY TO CORPORATE ISSUERS
The number of outstanding shares of the registrant's Common Stock, par value
$.001, was 18,768,930 as of October 31, 2000.
<PAGE>
By this amendment, the Company hereby corrects the Consolidated
Statements of Cash Flows table that was set forth in Part I, Item 1, of the Form
10-Q for the quarterly period ended October 31, 2000 that the Company filed with
the Commission on December 15, 2000. The following table restates the
Consolidated Statements of Cash Flows table in its entirety.
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<PAGE>
CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
<TABLE>
<CAPTION>
Cumulative
From
November 2,
For the Three Months Ended 1995 (Date of
October 31, Inception) to
---------------------------------------- to October 31,
2000 1999 2000
---------------- ---------------- ----------------
<S> <C> <C> <C>
Cash Flows From Operating Activities:
Net loss $ (1,144,207) $ (1,118,772) $(22,960,932)
Adjustments to reconcile net loss to
net cash used in operating activities:
Depreciation and amortization 21,026 21,237 231,703
Reduction of notes receivable - common
stock in exchange for services rendered -- 9,508 423,882
Common stock issued for services rendered 411,250 -- 1,651,978
Stock options and warrants issued for
services rendered -- -- 3,102,024
Preferred stock issued for services rendered -- -- 100
Founders shares transferred for services rendered -- -- 353,506
Changes in operating assets and liabilities:
Miscellaneous receivables -- 107,236 27,873
Other current assets (153,004) 26,757 (255,752)
Accounts payable and accrued liabilities 221,764 59,726 2,234,082
Other, net -- -- 110,317
------------ ------------ ------------
Net Cash Used in Operating Activities (643,171) (894,308) (15,081,219)
Cash Flows From Investing Activities:
Purchase of property and equipment (473,034) -- (1,146,988)
Costs incurred for patents (57,347) -- (326,846)
Change in restricted cash -- -- (5,595)
Purchase of short-term investments (13,735,738) (7,838) (17,702,001)
Change in deposits 27,842 (23,161) 29,961
Change in notes receivable - common stock -- -- (4,118)
Change in due from related parties -- -- (2,255,197)
Other, net -- -- 89,683
------------ ------------ ------------
Net Cash Used in Investing Activities (14,238,277) (30,999) (21,321,101)
Cash Flows From Financing Activities:
Proceeds from issuance of long-term debt -- -- 993,149
Repayment of long-term debt (2,245) (387,876) (963,021)
Change in due to related parties -- -- 154,541
Proceeds from issuance of common stock, net 23,605,925 15,000 48,268,145
Purchase and retirement of common stock -- -- (119,066)
------------ ------------ ------------
Net Cash Provided By (Used In) Financing
Activities 23,603,680 (372,876) 48,333,748
Effect of Exchange Rates on Cash (11,564) 8,360 (15,855)
------------ ------------ ------------
Net Increase (Decrease) in Cash and Cash Equivalents 8,710,668 (1,289,823) 11,915,573
Cash and Cash Equivalents, Beginning of Period 3,204,905 5,633,201 --
------------ ------------ ------------
Cash and Cash Equivalents, End of Period $ 11,915,573 $ 4,343,378 $ 11,915,573
============ ============ ============
</TABLE>
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<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, we
have duly caused this amendment to be signed on our behalf by the undersigned.
DATE: December 18, 2000
GENEREX BIOTECHNOLOGY CORPORATION
By: /s/ E. Mark Perri
------------------------------------
E. Mark Perri
Chairman and Chief Financial Officer
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