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SECURITIES AND 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
October 13, 2000
ALR TECHNOLOGIES INC.
(Exact name of registrant as specified in its charter)
Nevada
(State or other jurisdiction of incorporation)
0-30414 88-02295807
(Commission File No.) (IRS Employer ID)
1201 Cornwall Avenue
Suite 203
Bellingham Washington 98225
(Address of principal executive offices and Zip Code)
(360) 650-9100
(Registrant's telephone number, including area code)
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Item 2. Acquisition or Disposition of Assets
On August 14, 2000, ALR Technologies Inc. ("ALRT") filed a Form
8-K to report its disposition of A Little Reminder (ALR) Inc.
Pursuant to Item 7 of Form 8-K, ALRT indicated that it would file
certain financial information no later than the date required by Item
7 of Form 8-K. This Amendment No. 1 to Form 8-K is filed to provide
the required financial information.
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 sale of its subsidiary, A Little Reminder (ALR)
Inc. on July 31, 2000. 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 June 30,
2000 has been prepared on the assumption that the transaction had
occurred at the end of the fiscal period. The unaudited pro forma
consolidated statements of loss for the six months ended June 30,
2000 and for the year ended December 31, 1999 have been prepared on
the assumption that the transaction had occurred at the beginning of
the fiscal periods of the Registrant. The principal adjustments
relate to: (1) the deletion of the assets, liabilities, revenues and
expenses related to the subsidiary, and (2) the gain on sale of the
subsidiary.
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ALR Technologies Inc.
Pro Forma Consolidated Balance Sheet
June 30, 2000 (Unaudited)
Assets Jun 30/00 Pro Forma Adjustments Pro Forma
(1) (2) Results
Current assets:
Cash $ 2,984 2,800 $ 5,784
Prepaid expenses,
deposits and
advances 23,716 (1,349) 22,367
------------ -------- ------- ------------
26,700 28,151
Fixed assets, net 11,430 (1,710) 9,720
------------ -------- ------- ------------
$ 38,130 $ 37,871
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Liabilities & Shareholders'
Equity (Deficit)
Current liabilities:
Accounts payable & accrued
liabilities $ 650,784 (313,788) $ 336,996
Promissory notes
payable 400,000 400,000
Current portion of
long term debt 277,268 (277,268) -
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1,328,052 (591,056) 736,996
Long term debt 10,116 439,884 450,000
Shareholders' equity
(deficit)
Capital stock 21,078 21,078
Additional paid in
capital 1,118,581 1,118,581
Deficit (2,479,272) 150,913 (2,328,359)
Accumulated other
comprehensive income 39,575 39,575
------------ -------- ------- ------------
(1,300,038) (1,149,125)
------------ -------- ------- ------------
$ 38,130 $ 37,871
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ALR Technologies Inc.
Pro Forma Consolidated Statement of Loss
Six Months Ended June 30, 2000 (Unaudited)
Jun 30/00 Pro Forma Adjustments Pro Forma
(1) (2) Results
Sales $ 182,006 (182,006) $ -
Cost of sales
Cost of goods sold 111,994 (111,994) -
---------- -------- ------- ----------
70,012 (70,012) -
Operating expenses
Depreciation 3,273 (305) 2,968
Development costs 40,728 40,728
Foreign exchange
loss 3,888 3,888
Interest 31,074 (19,074) 12,000
Professional fees 44,405 (3,164) 41,241
Rent 28,482 (889) 27,593
Selling, general and
administrative 76,061 (5,922) 70,139
Wages and benefits 216,589 (2,065) 214,524
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444,500 (31,419) 413,081
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Loss from operations (374,488) (38,593) (413,081)
Loss on disposal of
capital assets (4,214) 605 (3,609)
Gain on disposition
of subsidiary 193,304 193,304
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Net loss for
the year $ (378,702) (37,988) 193,304 $ (223,386)
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Loss per share $ (0.02) $ (0.01)
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Weighted average
shares outstanding 23,012,512 23,102,512
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ALR Technologies Inc.
Pro Forma Consolidated Statement of Loss
Year Ended December 31, 1999 (Unaudited)
Dec 31/99 Pro Forma Adjustments Pro Forma
(1) (2) Results
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) -
------------ -------- ------- ----------
478,188 (478,188) -
------------ -------- ------- ----------
(19,570) 19,570 -
Operating expenses
Depreciation 12,116 (8,289) 3,827
Development costs 61,318 (16,355) 44,963
Foreign exchange
(gain) loss (1,783) 4,789 3,006
Interest 23,005 (23,005) -
Loss on write-down
of fixed assets 12,217 (12,217) -
Professional fees 471,772 (268,173) 203,599
Rent 60,562 (17,174) 43,388
Selling, general and
administrative 254,161 (97,834) 156,327
Wages and benefits 229,027 (159,027) 70,000
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1,122,395 (597,285) 525,110
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Net loss for
the year $ (1,141,965) 616,855 $ (525,110)
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Loss per share $ 0.04 $ 0.02
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Weighted average
shares outstanding 30,747,841 30,747,841
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ALR Technologies Inc.
Notes to the Pro Forma Consolidated Financial Information
(Unaudited)
(1) To eliminate the assets, liabilities, revenues and expenses of
the subsidiary
(2) To record the gain on sale of shares of the subsidiary
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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
Sidney Chan, CEO
Date: October 12, 2000
