FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(Mark One)
[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended JUNE 30, 2000
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from ____________ to _____________
Commission file number: 333-92019
PLASTICS MFG. COMPANY
(Exact name of registrant as specified in charter)
WISCONSIN 39-1867101
(State of incorporation) (I.R.S Employer Identification Number)
W190 N11701 MOLDMAKERS WAY
GERMANTOWN, WISCONSIN 53022-8214
(Address of principal executive office)
Registrant's telephone number, including area code: 262-255-5790
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed 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 report), and (2) has been
subject to such filing requirements for the past 90 days.
Yes No X
The number of common shares outstanding at July 10, 2000 was 3,788,812.
<PAGE>
PLASTICS MFG. COMPANY
AND SUBSIDIARIES
INDEX
PAGE NO.
PART I. FINANCIAL INFORMATION
Item 1. Consolidated Balance
Sheets, June 30, 2000 (unaudited)
and September 30, 1999 (derived from
audited financial statements) 1-2
Financial Statements
Consolidated Statements of
Operations, Three Months and Nine Months
Ended June 30, 2000 (unaudited) and
June 30, 1999 (unaudited) 3
Consolidated Statements
of Cash Flows, Nine Months
Ended June 30, 2000 (unaudited)
and June 30, 1999 (unaudited) 4
Notes to Consolidated
Financial Statements 5
Item 2. Management's Discussion and
Analysis of Financial Condition
and Results of Operations 6-10
Item 3. Quantitative and Qualitative
Disclosures About Market Risk 10
PART II. OTHER INFORMATION
Item 1. Legal Proceedings 11
Item 2. Changes in Securities and Use of Proceeds 11
Item 6. Exhibits and Reports on Form 8-K 12-13
(i)
<PAGE>
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
<TABLE>
<CAPTION>
PLASTICS MFG. COMPANY
CONSOLIDATED BALANCE SHEETS
ASSETS
SEPTEMBER 30, JUNE 30,
1999* 2000*
<S> <C> <C>
Current assets
Cash in bank $ 245,813 $ 488,088
Accounts receivable - trade 2,167,918 6,046,646
Accounts receivable - related parties 739,603 1,012,623
Progress receivables 111,745 42,839
Prepaid expenses 89,897 200,530
Inventory 1,073,435 3,177,504
TOTAL CURRENT ASSETS 4,428,411 10,968,231
PROPERTY AND EQUIPMENT
Office equipment 20,405 215,925
Leasehold improvements 549,521 854,098
Truck 3,655 3,655
Machinery & equipment 697,406 1,333,397
Production molds 100,000 100,000
1,370,987 2,507,075
Less accumulated depreciation (134,756) (268,396)
NET PROPERTY AND EQUIPMENT 1,236,231 2,238,679
OTHER ASSETS
Deposits 2,189,039 2,259,396
Deferred income tax benefit, net 992,200 939,000
TOTAL OTHER ASSETS 3,181,239 3,198,396
$ 8,845,881 $16,405,306
<FN>
*The June 30, 2000 consolidated balance sheet is unaudited. The
consolidated balance sheet at September 30, 1999 is derived from
audited financial statements.
</TABLE>
-1-
<PAGE>
<TABLE>
<CAPTION>
LIABILITIES AND STOCKHOLDERS' EQUITY
SEPTEMBER 30, JUNE 30,
1999* 2000*
CURRENT LIABILITIES
<S> <C> <C>
Accounts payable - trade $ 1,359,174 $ 3,126,136
Accounts payable - related parties 1,600,087 1,007,235
Line of credit loan 425,000 4,400,000
Accrued payroll 203,711 265,945
Customer deposits 441,439 1,665,630
Deferred income tax liability, net 24,600 24,625
TOTAL CURRENT LIABILITIES 4,054,011 10,489,572
LONG-TERM LIABILITIES 53,029
TOTAL LIABILITIES 4,054,011 10,542,601
COMMON STOCK SUBJECT TO RESCISSION 1,951,360 -
STOCKHOLDERS' EQUITY
Common stock, no par value,
15,000,000 shares authorized 6,952,040 9,103,400
Stock subscriptions receivable (784,228) -
Accumulated deficit (3,327,302) (3,240,695)
TOTAL STOCKHOLDERS' EQUITY 2,840,510 5,862,705
$ 8,845,881 $16,405,306
</TABLE>
-2-
<PAGE>
<TABLE>
<CAPTION>
PLASTICS MFG. COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS FOR THE NINE MONTHS ENDED
ENDED JUNE 30, JUNE 30,
1999 2000 1999 2000
(unaudited) (unaudited)
<S> <C> <C> <C> <C>
Sales
Molding $ 1,284,783 $ 7,189,509 $ 2,375,519 $ 16,147,752
Tooling 320,609 2,043,598 715,154 5,848,047
Related parties 132,046 589,439 870,158 1,424,858
Total Sales 1,737,438 9,822,545 3,960,830 23,420,656
COST OF GOODS SOLD
Trade 1,065,889 6,097,300 2,141,120 13,306,194
Related parties 855,817 2,497,509 2,374,096 6,595,523
Total cost of goods sold 1,921,706 8,594,809 4,515,216 19,901,717
Gross profit (loss ) (184,267) 1,227,736 (554,386) 3,518,939
SELLING AND ADMINISTRATIVE EXPENSES
Trade 158,442 810,536 319,310 1,945,152
Related parties 42,071 217,313 142,313 485,237
Management fee 86,872 104,321 198,041 784,227
Total operating expenses 287,385 1,132,170 659,664 3,214,616
Total operating income (loss) (471,653) 95,566 (1,214,050) 304,323
OTHER INCOME (EXPENSE)
Interest income 1,696 - 3,238 117
Interest expense (5,547) (90,351) (11,429) (164,633)
Income (loss) before income tax
expense and accounting change (475,504) 5,215 (1,222,242) 139,807
INCOME TAX EXPENSE (174,900) 2,000 (449,650) 53,200
Net income (loss) before cumulative
effect of accounting change (300,604) 3,215 (772,592) 86,607
CUMULATIVE EFFECT OF ACCOUNTING CHANGE,
NET OF INCOME TAXES - - (95,614) -
NET INCOME (LOSS) $ (300,604) $ 3,215 $ (868,206) $ 86,607
Per basic share:
Income (loss) before accounting change $ (0.12) $ 0.00 $ (0.30) $ 0.02
Change in accounting principle - - (0.04) -
Net income (loss) $ (0.12) $ 0.00 $ (0.34) $ 0.02
Shares in computing basic net income
(loss) per share $ 2,563,855 $ 3,765,035 $ 2,496,161 $ 3,755,029
Per diluted share:
Income (loss) before accounting change $ (0.12) $ 0.00 $ (.30) $ 0.02
Change in accounting principle - - (.04) -
Net income (loss) $ (0.12) $ 0.00 $ (.34) $ 0.02
Shares in computing diluted net income
(loss) per share $ 2,563,855 $ 4,598,368 $ 2,496,161 $ 3,755,029
</TABLE>
-3-
<PAGE>
<TABLE>
<CAPTION>
PLASTICS MFG. COMPANY
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED
JUNE 30,
1999 2000
<S> <C> <C>
Cash Flows from operating activities: (unaudited) (unaudited)
Net Income (Loss) $(868,206) $ 86,607
Change in Accounting 95,614
Adjustments to reconcile net loss to net
cash provided by operating activities:
Depreciation 68,297 133,640
Deferred income taxes (449,674) 53,225
Accounts receivable - trade (981,803) (3,878,728)
Accounts receivable - related parties (171,746) (273,020)
Progress receivables (13,839) 68,903
Inventory (489,883) (2,104,069)
Prepaid expenses 245,064 (110,633)
Accounts payable - trade 428,556 1,766,962
Accounts payable - related parties 1,269,753 (592,852)
Accrued payroll 73,268 62,237
Customer deposits 262,877 1,224,191
CASH USED IN OPERATING ACTIVITIES (531,723) (3,563,536)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment (217,097) (1,136,088)
Deposits on leases (4,527) (70,357)
CASH USED IN INVESTING ACTIVITIES (221,624) (1,206,445)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from line of credit 150,000 3,975,000
Proceeds from long term debt - 53,029
Stock subscription receivable 240,545 784,228
Proceeds from common stock 343,800 200,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 734,345 5,012,257
NET INCREASE (DECREASE) IN CASH (19,002) 242,275
CASH, beginning of period 9,621 245,813
CASH, end of period $ (9,381) $ 488,088
SUPPLEMENTAL DISCLOSURES OF CASH FLOW
INFORMATION
Cash paid during the year for: Interest $ 11,429 $ 164,633
</TABLE>
-4-
<PAGE>
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Note 1. The accompanying condensed financial statements, in the
opinion of management, reflect all adjustments which are
normal and recurring in nature and which are necessary for
a fair statement of the results for the periods presented.
Some adjustments involve estimates which may require
revision in subsequent interim periods or at year-end. In
all regards, the financial statements have been presented
in accordance with generally accepted accounting
principles. Refer to notes to the financial statements
which appear in the Registration Statement filed with the
Securities and Exchange Commission on March 9, 2000
(Amendment No. 3 to Form S-1; No. 333-92019), for our
accounting policies which are pertinent to these
statements.
Note 2. Certain legal proceedings are described under Part II, Item
1 of this report.
Note 3. Accounts receivable balances include no allowance for
doubtful accounts - all balances are fully collectible.
Note 4. Inventory is valued at the lower of cost (determined by the
FIFO method) or market. The components of inventory
consist of the following:
<TABLE>
<CAPTION>
9/30/99 6/30/00
<S> <C> <C>
Perishable tools $ 14,772 $ 43,799
Raw materials 459,825 1,620,682
Materials in progress 176,630 658,459
Finished goods 422,208 854,564
Total $ 1,073,435 $ 3,177,504
</TABLE>
-5-
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
OVERVIEW
Our revenues are primarily derived from the sale of plastic
injection molded parts. The normal practice in the injection molding
industry is to be a custom molder, which involves only the
manufacturing of parts. However, we also generate revenues by assembly
and value-added operations. Our marketing efforts are dedicated
towards contract manufacturing of high precision and high quality
parts, which includes these assembly and value-added operations. We
began operations in November of 1997, and were considered a development
stage company through March of 1999. We incurred losses from inception
through June of 1999. These losses are primarily due to costs
associated with a start-up enterprise, training costs, initial excess
manufacturing capacity, higher than average selling and administrative
expenses and related costs. We expect to incur a net loss from
operations in fiscal year 2000 and 2001 as a result of planned growth
for these years.
<PAGE>
Research and development expenses include expenses for research,
design and development of the MGS Group's multi-shot process which
permits us to mold different types of plastic resin, typically with
different aesthetic and texture qualities, into a single plastic part.
Because of our relationship to the MGS Group, we have access to the
multi-shot technology and other related manufacturing processes.
Research and development costs are not material and are included in the
cost of goods sold section of our income statements.
INFORMATION CONCERNING FORWARD-LOOKING STATEMENTS
This report contains certain of our expectations and other forward-
looking information regarding the Company pursuant to the safe-harbor
provisions of the Private Securities Litigation Reform Act of 1995.
While we believe that these forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance and all such statements involve risk and uncertainties that
could cause actual results to differ materially from those contemplated
in this report. The assumptions, risks and uncertainties relating to
the forward-looking statements in this report include general economic
and business conditions, developments in our planned expansion,
availability of adequate capital, changes in the prices of raw
materials, and competitive pricing in the markets served by us. These
and other assumptions, risks and uncertainties are described under the
caption "Cautionary Statement Regarding Forward-Looking Information"
set forth in Item 2 of our quarterly report on Form 10-Q for the period
ended March 31, 2000.
-6-
RESULTS OF OPERATIONS
SALES. During the third quarter and first nine months of fiscal
2000 sales increased 465% and 491% over comparable time periods in
fiscal 1999. The continued rapid increases are primarily attributable
to improved plant efficiency, increased customer demand and addition of
new customers. The majority of our sales increases are the results of
increased volume rather than increases in per unit sales prices.
During the third quarter of fiscal 2000 the Company's backlog of
unfilled orders, believed to be firm, increased from $13.46 million at
March 31, 2000 to $15.57 million at June 30, 2000.
We continue to capitalize on our relationship with Moldmakers, Inc.
and Prototype Mold & Design, two of our related companies within the
MGS Group, to produce tooling as part of our total manufacturing
solution.
COST OF GOODS SOLD. In keeping with our exponential increase in
sales, cost of sales increased 347% from the third quarter of fiscal
1999 to the third quarter of fiscal 2000. For the nine months ended
June 30, 2000 cost of goods sold was $19,902,000 as compared to
$4,515,000 for the period ended June 30, 1999. However, when expressed
as a percentage of sales, cost of goods sold in the third quarter of
fiscal 2000 and for the nine months ended June 30, 2000 decreased to
88% and 85% respectively compared to 111% and 114% for comparable
periods in fiscal 1999. This decrease allowed the Company to recognize
a gross profit of $3,519,000 for the nine months ended June 30, 2000 as
compared to a loss of $554,000 for the nine months ended June 30, 1999.
<PAGE>
Materials as a percentage of molding sales increased between quarters
due to product mix and more assembly. Direct labor costs continued to
increase in order for the Company to meet current and future sales
growth. Comparing labor costs from the second quarter to the third
quarter of fiscal 2000 shows a slight increase in labor as a percent of
sales from 18% to 20%. Fixed overhead decreased from 16% of sales to
14% of sales due to greater utilization of equipment, facilities, and
labor. During the third quarter we also received credits of
approximately $430,000 pursuant to the terms of our lease for equipment
at our Germantown, Wisconsin facility and approximately $582,000 with
respect to various purchase orders for tooling which had been completed
by related parties. The credits for the tooling purchase orders
reflected adjustments to the contract price to reflect the actual costs
incurred by the parties on a time and materials basis. Similar credits
of approximately $85,000 relating to purchase orders for tooling were
received during the third quarter of fiscal 1999.
-7-
SELLING AND ADMINISTRATIVE EXPENSES. Selling and administrative
expenses increased from $287,000 during the third quarter of fiscal
1999 to $1,132,000 during the third quarter of fiscal 2000. For the
nine months ended June 30, 2000 selling and administrative expenses
were $3,215,000 as compared to $660,000 for the period ended June 30,
1999. This increase is due to the addition of sales and management
personnel in order to identify and contact potential new customers and
to allow for expansion into additional and more diversified markets
within the plastics injection molding industry. During the third
quarter we reached an agreement to terminate the existing management
agreements. The agreements called for us to record a management fee
equal to 5% of gross sales payable to various related entities for
sales and marketing, consulting and reference services. Under those
agreements we incurred a management fee of $104,000 and $784,000 for
the three and nine months ended June 30, 2000. Had the management
agreements been in place the entire third quarter the management fee
would have been $491,000 and $1,171,000 for the three and nine months
ended June 30, 2000.
INTEREST EXPENSE. Interest expense was $6,000 in the third quarter
of fiscal 1999 and $90,000 in the third quarter of fiscal 2000. For
the nine months ended June 30, 2000 interest expense has totaled
$165,000 compared with $11,000 in the first nine months of fiscal 1999.
Interest expense arises from borrowings on our line of credit. Use of
our line of credit has and will continue to increase with increased
sales levels and the directly related increases in accounts receivable
and inventory.
INCOME TAX EXPENSE. Income tax expense was a tax benefit of
$175,000 for the third quarter of fiscal 1999 and a tax expense of
$2,000 for the third quarter of fiscal 2000. For the first nine months
of fiscal 1999 a tax benefit of $450,000 was recorded compared with an
expense of $53,200 for the first nine months of fiscal 2000. These
amounts are calculated as a percentage of pre-tax income, and reflect,
accordingly, the pre-tax loss or pre-tax income at the end of the above
stated periods.
<PAGE>
LIQUIDITY AND CAPITAL RESOURCES
We are continuing to finance our operations with a combination of
private capital, a bank line of credit facility and leases. In April
2000 the Company obtained an increase in its line of credit from $3
million to $5 million from M&I Northern Bank.
Net cash used by operating activities totaled $532,000 for the
first nine months of fiscal 1999 and $3.56 million for the first nine
months of fiscal 2000. Cash used in operating activities for each
period resulted primarily from the necessity of funding inventory and
accounts receivable growth in excess of our accounts payable and
customer deposits growth.
Net cash used in investing activities totaled $222,000 in the first
nine months of fiscal 1999 and $1.21 million in the first nine months
of fiscal 2000. Cash used in investing activities for each period
resulted from the acquisition of leasehold improvements and
manufacturing equipment.
-8-
Net cash provided by financing activities totaled $734,000 for the
first nine months of fiscal 1999 and $5.0 million for the first nine
months of fiscal 2000. Cash provided by financing activities for each
period resulted primarily from draws on our bank line of credit.
We believe that current cash balances and available line of credit
and lease financing will be sufficient to fund our expected growth and
related working capital and capital expenditure requirements for the
balance of the 2000 fiscal year. We originally anticipated the need
for $7 million of additional capital to implement our fiscal 2001
business plan of which $5 million would be required during the fourth
quarter of fiscal 2000. We have delayed the expansion plan because of
our desire to focus on current operations and delays in raising the
necessary capital. The fiscal 2001 business plan still requires the $7
million of additional capital to be put into place. We plan to resume
the expansion between the second and third quarters of fiscal 2001.
However the start date is dependent upon our ability to raise the
necessary capital. We currently anticipate raising the additional
capital through the issuance of additional equity securities.
Our forecast of the period of time through which our financial
resources will be adequate is a forward-looking statement that involves
risks and uncertainties. Our actual funding requirements may differ
materially from our forecasts as a result of a number of factors
including our plans to expand our operations geographically and the
expansion of our value added and assembly operations as part of our
total manufacturing solution. We cannot be certain that additional
funds will be available on satisfactory terms when needed, if at all.
If we are unable to raise additional necessary capital in the future,
we may be required to scale down our expansion plans significantly.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This report contains certain of our expectations and other forward-
looking information regarding the Company pursuant to the safe-harbor
provisions of the Private Securities Litigation Reform Act of 1995.
<PAGE>
While we believe that these forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance and all such statements involve risk and uncertainties that
could cause actual results to differ materially from those contemplated
in this report. The assumptions, risks and uncertainties relating to
the forward-looking statements in this report include, among others
general economic and business conditions, the availability of adequate
financing, changes in the prices of raw materials, competitive pricing
in the markets served by the company as a result of economic conditions
or overcapacity in the industry, loss of key customer relationships,
and manufacturing problems at company facilities. These and other
assumptions, risks and uncertainties are described under the caption
"Cautionary Statement Regarding Forward-Looking Statements" in Item 1
of the Company's Quarterly Report on Form 10-Q for the quarterly period
ended March 31, 2000, and, from time to time, in the Company's other
filings with the Securities and Exchange Commission.
-9-
ITEM 3.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
We do not have a material market risk associated with interest rate
risk, foreign currency exchange risk, or commodity price risk. We
conduct U.S. dollar denominated export transactions or immediately
exchange all foreign currency attributable to export sales for U.S.
dollars. Foreign sales for fiscal year 2000 are expected to represent
approximately 20% of sales.
-10-
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
We are the plaintiff in a lawsuit filed in the District Court of
Tarrant County, Texas, which seeks to terminate a lease entered into by
us in November, 1999 with respect to a 142,000 square foot building in
Fort Worth, Texas. We believe the premises did not meet the
requirements of the lease and are seeking a determination by the court
that the lease is of no legal effect or, alternatively, has been
breached by the landlord. The lease is for a term of seven years
ending December 31, 2006 and provides for annual payments of $366,648,
$431,880, $518,436 respectively, over the first three years of the term
and annual payments of $518,436 over each of the remaining four years
of the term. We believe that our legal position is correct and that a
court should find in our favor. In addition, the landlord has a duty
under Texas law to mitigate its damages and seek another tenant. For
these reasons, we do not, as of the date of this report, believe that
this dispute will have a material adverse effect on our financial
condition or liquidity. Litigation is, by its nature, uncertain and if
the lease is held to be enforceable and no other tenant is found for
the building it would have a material adverse effect on our financial
condition.
ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS
The effective date of our first registration statement, filed on
Form S-1 (Commission file number 333-92019) under the Securities Act of
1933, was March 13, 2000. This registration statement related to
500,000 shares of our common stock to be sold for cash and 722,490
shares of our common stock which we offered to repurchase for cash.
<PAGE>
The offering of stock for cash commenced on March 13, 2000 and
terminated on June 30, 2000. The repurchase offer terminated on April
14, 2000. No shares were repurchased by us. We sold 38,812 shares in
the offering and received net proceeds of $465,744 before deduction of
offering expenses (including filing, legal, accounting fees) of
$205,555. The offering was not underwritten. No amounts were paid to
our directors, officers, or persons who own 10% or more of our common
stock or to our affiliates. The net offering proceeds have been
applied to working capital.
-11-
ITEM 6. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES
(A) EXHIBITS
Exhibits required by Item 601 of Regulation S-K:
EXHIBIT NUMBER EXHIBIT DESCRIPTION
3.1 Registrant's Restated Articles of Incorporation
(incorporated by reference to Exhibit 3.1 to Form S-1
(Registration No. 333-92019)
3.2 Registrant's By-laws, as amended November 29, 1999
(incorporated by reference to Exhibit 3.2 to Form S-1
(Registration No. 333-92019)
4.1 Form of specimen certificate for Registrant's common
stock (incorporated by reference to Exhibit 4.1 to Form
S-1 (Registration No. 333-92019)
4.2 Loan Agreement between M&I Northern Bank and PMC, as
amended January 18, 2000 (incorporated by reference to
Exhibit 4.2 to Amendment No. 2 to Form S-1 (Registration
No. 333-92019)
10.01 Mark G. Sellers Stock Option Agreement (incorporated by
reference to Exhibit 10.01 to Form S-1 (Registration No.
333-92019)
10.02 MGS Childrens' Trust Stock Option Agreement (incorporated
by reference to Exhibit 10.02 to Form S-1 (Registration
No. 333-92019)
10.03 Moose Lake Trust Stock Option Agreement (incorporated by
reference to Exhibit 10.03 to Form S-1 (Registration No.
333-92019)
10.04 Moldmakers Leasing & Investments Limited Partnership, LLP
Stock Option Agreement (incorporated by reference to
Exhibit 10.04 to Form S-1 (Registration No. 333-92019)
10.05 Moldmakers, Inc. Stock Option Agreement (incorporated by
reference to Exhibit 10.05 to Form S-1 (Registration No.
333-92019)
10.06 Management Agreement Between Registrant and MGS
Enterprises, Inc. dated December 31, 1996 as amended and
terminated May 1, 2000
10.07 Management Agreement Between Registrant and Moldmakers
Management, Inc. dated December 31, 1996 as amended and
terminated May 1, 2000
10.08 Management Agreement Between Registrant and Statistical
Plastics Corporation dated December 31, 1996 as amended
terminated May 1, 2000
-12-
10.09 Master Equipment Lease between Registrant and Moldmakers
<PAGE>
Leasing & Investments Limited Partnership, LLP
(incorporated by reference to Exhibit 10.09 to Form S-1
(Registration No. 333-92019)
10.10 Master Equipment Lease between Registrant and PCI
Consulting and Leasing, Inc. (incorporated by reference
to Exhibit 10.10 to Form S-1 (Registration No. 333-92019)
10.11 ITW Paslode, Cordless Tool Group Supply Agreement
(incorporated by reference to Exhibit 10.11 to Form S-1
(Registration No. 333-92019)
10.12 Agreement to Assume Obligations With Respect to
Rescission Shares entered into between Registrant, Mark
G. Sellers, and certain MGS Group companies (incorporated
by reference to Exhibit 10.12 to Amendment No. 1 to Form
S-1 (Registration No. 333-92019)
10.13 Lease on Germantown, Wisconsin, Facility (incorporated by
reference to Exhibit 10.13 to Form S-1 (Registration No.
333-92019)
21.1 Subsidiaries of the Registrant (incorporated by reference
to Exhibit 21.1 to Form S-1 (Registration No. 333-92019)
27.1 Financial Data Schedule (electronic filing only, quarters
ended June 30, 1999 and 2000)
(B) REPORTS ON FORM 8-K:
None.
-13-
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.
PLASTICS MFG. COMPANY
August 21, 2000 SCOTT W. SCAMPINI
Scott W. Scampini
Executive Vice President-Finance
(On behalf of the Registrant and as
Principal Financial Officer)
-14-
EXHIBIT INDEX<dagger>
TO
FORM 10-Q
OF
PLASTICS MFG. COMPANY
FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2000
Pursuant to Section 102(d) of Regulation S-T
(17 C.F.R. <section> 232.102(d))
EXHIBIT 10.06 Management Agreement Between Registrant and MGS
Enterprises, Inc. dated December 31, 1996 as amended
and terminated May 1, 2000
<PAGE>
EXHIBIT 10.07 Management Agreement Between Registrant and Moldmakers
Management, Inc. dated December 31, 1996 as amended
and terminated May 1, 2000
EXHIBIT 10.08 Management Agreement Between Registrant and
Statistical Plastics Corporation dated December 31,
1996 as amended and terminated May 1, 2000
EXHIBIT 27.1 Financial Data Schedule (Electronic Filing Only,
Period Ended June 30, 1999 and 2000)
<dagger>Exhibits required by Item 601 of Regulation S-K which have
previously been filed and are incorporated herein by reference are set
forth in Part II, Item 6(a) of Form 10-Q to which this Exhibit Index
relates.
