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UNITED STATES
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: May 24, 1996
NUKO INFORMATION SYSTEMS, INC.
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(Exact name of registrant as specified in its charter)
NEW YORK 2-31438 16-0962874
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(State or other (Commission File Number) IRS Employer
jurisdiction of Identification No.)
incorporation)
2235 QUME DRIVE, SAN JOSE, CALIFORNIA 95131
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(Address of principal executive office, including zip code)
Registrant's Telephone Number, including area code: (408) 526-0288
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Item 7. Financial Statements and Exhibits
(c) Exhibits
EXHIBIT
NO. DESCRIPTION
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99 OTHER EXHIBITS
99.1 Interim Condensed Balance Sheets at April 30, 1996
(Unaudited), at Quarterly Period Ended March 31, 1996
(Unaudited) and at December 31, 1995 (Audited)
99.2 Condensed Statement of Operations for the Four Months Ended
April 30, 1996 (Unaudited)
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.
NUKO Information Systems, Inc.
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(Registrant)
Date: May 22, 1996 /s/ John Gorman
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John Gorman, Vice President, Finance and
Chief Financial Officer
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NUKO Information Systems, Inc. and Subsidiary
INTERIM CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
FOR FOUR MONTHS ENDED APPRIL 30, 1996
<TABLE>
<CAPTION>
Quarter Four Months
Ended Ended
April 30, March 31, April 30,
1996 1996 1996
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(Unaudited) (Unaudited) (Unaudited)
<S> <C> <C> <C>
Net Sales
Product sales $ 898,000 $ 181,800 $1,079,800
Rental income 140,000 152,613 292,613
Software Licensing 16,000 125,000 141,000
Software Maintenance 15,000 15,000 30,000
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Total Net Sales 1,069,000 474,413 1,543,413
Cost of goods sold 244,850 142,321 387,171
Research and development 549,114 2,188,047 2,737,161
Selling, general and administrative expenses 456,472 1,305,480 1,761,952
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1,250,436 3,635,848 4,886,284
Loss from operations (181,436) (3,161,435) (3,342,871)
Other income (expense), net 43,029 96,860 139,889
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Loss before income taxes (138,407) (3,064,575) (3,202,982)
Provision for income taxes (200) (200) (400)
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Net loss for period (138,607) (3,064,775) (3,203,382)
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Net loss per share ($0.02) ($0.37) ($0.39)
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Average number of shares and equivalents 8,180,602 8,180,602 8,180,602
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NUKO Information Systems, Inc. and Subsidiary
INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (Cont.)
<TABLE>
<CAPTION>
Q1 Ended
April 30, March 31, December 31,
1996 1996 1995
---------------- ----------------- ----------------
(Unaudited) (Unaudited) (Audited)
<S> <C> <C> <C>
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable $ 1,417,010 $ 1,541,479 $ 1,319,959
Accrued liabilities 314,961 532,852 108,719
Current portion -- capital lease obligation 100,457 99,135 95,273
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Total current liabilities 1,832,428 2,173,466 1,523,951
Senior notes 325,000 325,000 325,000
Capital lease obligation 66,411 75,406 101,686
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Total liabilities 2,223,839 2,573,872 1,950,637
SHAREHOLDERS' EQUITY
Common stock, $0.001 par value, 20,000,000
shares authorized: 10,250,918 shares
issued and outstanding at March 31, 1996;
and 9,128,418 shares issued and outstanding
at December 31, 1995 10,250 10,250 9,128
Additional paid-in capital 20,115,349 20,124,578 15,741,718
Accumulated deficit (7,576,997) (7,438,389) (4,373,614)
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Total shareholders' equity 12,548,602 12,696,439 11,377,232
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TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $14,772,441 $15,270,311 $13,327,869
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</TABLE>
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NUKO Information Systems, Inc. and Subsidiary
INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>
Q1 Ended
April 30, March 31, December 31,
1996 1996 1995
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(Unaudited) (Unaudited) (Audited)
<S> <C> <C> <C>
ASSETS:
Current Assets
Cash and cash equivalents $10,562,094 $11,449,908 $11,255,820
Short term investments 933,035 1,668,634 --
Accounts receivable, trade 944,400 62,437 120,000
Receivables from officers/directors -- -- 27,931
Share subscriptions receivable including
interest of $30,567 at December 31, 1995 -- -- 341,967
Inventories (net) 906,144 755,929 758,552
Other current assets 361,517 376,124 110,762
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Total Current Assets 13,707,190 14,313,032 12,615,032
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Property and Equipment -- at cost
Leased assets 211,417 211,417 211,417
Computer hardware and software 524,829 478,200 312,059
Office furniture and other equipment 181,025 135,304 23,203
Leasehold improvements 61,321 46,915 11,033
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978,592 871,836 557,712
Less accumulated depreciation (178,463) (153,689) (98,215)
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800,129 718,147 459,497
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Other Assets 265,122 239,132 253,340
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TOTAL ASSETS $14,772,441 $15,270,311 $13,327,869
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