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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT
APRIL 17, 2000
DATE OF REPORT
(DATE OF EARLIEST EVENT REPORTED FEBRUARY 2, 2000)
ALR TECHNOLOGIES, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
15496 Bel-Red Road
Suite 310
Redmond, Washington 98052 5507
Tel:
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
(425) 376-2578
REGISTRANT'S TELEPHONE NUMBER
Nevada 0-30414 88-0225807
(STATE OF INCORPORATION) (COMMISSION FILE NUMBER) (I.R.S. EMPLOYER ID #)
Nevada -
(STATE OR OTHER JURISDICTION (COMMISSION FILE NUMBER)
OF INCORPORATION)
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Item 7. Financial Statements and Exhibits
(b) Pro forma financial information
The following unaudited pro forma financial information is based on the
historical consolidated financial statements of the Registrant giving effect to
the terms of the settlement agreement dated February 2, 2000 pursuant to which
the Company acquired 11,000,000 of its own common shares for cancellation. The
unaudited pro forma financial statements and accompanying notes may not be
indicative of the results that actually would have occurred if the transaction
had taken place on the date indicated nor do they represent a basis for
assessing future performance. The unaudited pro forma financial statements
should be used in conjunction with the historical statements of the Registrant.
The unaudited pro forma consolidated balance sheet at December 31, 1999 and the
unaudited pro forma consolidated statement of loss for the year ended December
31, 1999 have been prepared on the assumption that the transaction had occurred
at the beginning of the fiscal year of the Registrant. The principal adjustments
relate to: (1) the recognition of the acquisition of 11,000,000 common shares
paid partly through an offset against loans and advances previously made to one
of the vendors and partly from funds obtained through a loan bearing interest at
the US bank prime rate and (2) interest on the loan payable for the year.
ALR Technologies Inc.
Pro Forma Consolidated Balance Sheet
December 31, 1999 (Unaudited)
<TABLE>
<CAPTION>
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Pro Forma Adjustments Pro Forma
Dec 31/99 (1) (2) Results
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<S> <C> <C> <C> <C>
Assets
Current assets:
Cash $ 7,261 $ 7,261
Accounts receivable, net 192,419 192,419
Inventories 106,644 106,644
Prepaid expenses, deposits and advances 61,858 (55,291) 6,567
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368,182 (55,291) 368,182
Fixed assets, net 26,714 26,714
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$ 394,896 (55,291) $ 339,605
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Liabilities & Shareholders' Equity (Deficit)
Current liabilities:
Bank loan $ 381,071 $ 381,071
Accounts payable & accrued liabilities 509,715 6,500 516,215
Loan payable 0 81,280 81,280
Current portion of long term debt 290,953 290,953
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1,181,739 81,280 6,500 1,269,519
Long term debt 13,613 13,613
Shareholders' equity (deficit)
Capital stock 32,078 (11,000) 21,078
Additional paid in capital 1,245,759 (125,571) 1,120,188
Deficit (2,100,570) (6,500) (2,107,070)
Accumulated other comprehensive income 22,277 22,277
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(800,456) (136,571) (6,500) (943,527)
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$ 394,896 (55,291) 0 $ 339,605
===================================================================================================
</TABLE>
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ALR Technologies Inc.
Pro Forma Consolidated Statement of Loss
Year Ended December 31, 1999 (Unaudited)
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------
Pro Forma Adjustments Pro Forma
Dec 31/99 (1) (2) Results
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<S> <C> <C> <C> <C>
Sales $ 458,618 $ 458,618
Cost of sales
Cost of goods sold 388,903 388,903
Loss on write-down of inventory 89,285 89,285
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478,188 478,188
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(19,570) (19,570)
Operating expenses
Depreciation 12,116 12,116
Development costs 61,318 61,318
Foreign exchange (gain) loss (1,783) (1,783)
Interest 23,005 6,500 29,505
Loss on write-down of fixed assets 12,217 12,217
Professional fees 471,772 471,772
Rent 60,562 60,562
Selling, general and administrative 254,161 254,161
Wages and benefits 229,027 229,027
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1,122,395 6,500 1,128,895
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Net loss for the year $1,141,965 6,500 $1,148,465
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Loss per share $ 0.04 $ 0.06
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Weighted average shares outstanding 30,747,841 19,747,841
===================================================================================================
</TABLE>
ALR Technologies Inc.
Notes to the Pro Forma Consolidated Financial Information
Year Ended December 31, 1999 (Unaudited)
(1) To record the acquisition of 11,000,000 common shares of the Company for
$200,000 Cdn paid paid partly through an offset against loans and advances
previously made to one of the vendors and partly from funds obtained
through a loan.
(2) To record interest on the loan payable for the year ended December 31,
1999.
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.
ALR Technologies Inc.
By: /s/ Sidney Chan
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Sidney Chan, President
Date: April 17, 2000
