SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: September 30, 1996
MEDICAL DYNAMICS, INC.
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(Exact name of Registrant as specified in its charter)
Commission file number: 0-8632
Colorado 84-0631765
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(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification
Number)
99 Inverness Drive East
Englewood, Colorado 80112
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(303) 790-2990
not applicable
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former name or former address, if applicable
<PAGE>
Item 5: Other Events
Medical Dynamics, Inc. (the "Company") is filing herewith its unaudited
preliminary balance sheet as of September 30, 1996, the Company's fiscal year
end. This balance sheet is based on preliminary information available to the
Company and certain projections and assumptions made by the Company which the
Company believes are reasonable in light of the circumstances. Any person
reviewing this balance sheet should understand that the information contained in
the balance sheet will have to be confirmed by auditors against information that
subsequently becomes available to the Company (such as statements and invoices
from suppliers, vendors, and financial institutions which have not yet been
received by the Company). It further should be understood that the information
contained herein is subject to adjustment should the Company reclassify certain
assets, liabilities, income, or expenses as a result of the audit procedures to
be conducted in the future.
This balance sheet is being submitted for the limited purpose of meeting
certain requirements imposed by the National Association of Securities Dealers,
Inc. and should not be utilized by any other person for any purpose.
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<PAGE>
MEDICAL DYNAMICS, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
(Unaudited, Preliminary)
<TABLE>
<CAPTION>
ASSETS
September, September,
30, 1996 30, 1995
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<S> <C> <C>
CURRENT ASSETS
Cash and cash equivalents $ 993,800 $1,071,700
Short term investments 10,000 10,000
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Total Cash and Investments 1,003,800 1,081,700
Trade receivables, less
allowance for doubtful
accounts of $25,000 and $45,000 229,600 391,600
Note receivable -0- 110,000
Inventories, net of allowance
for obsolescence of $200,000
and $200,000 889,200 948,500
Prepaid expenses 9,400 25,100
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Total Current Assets 2,132,000 2,556,900
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EQUIPMENT
Loaner equipment 696,900 678,100
Machinery and equipment 357,300 343,100
Furniture and fixtures 271,200 270,200
Leasehold improvements 54,500 54,500
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1,379,900 1,345,900
Less accumulated deprecia-
tion and amortization (1,315,400) (1,202,000)
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64,500 143,900
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OTHER ASSETS
Patents, patents pending and
trademarks, net of accumulated
amortization of $670,500
and $609,400 105,200 155,500
Other 14,900 29,400
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120,100 184,900
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TOTAL ASSETS $2,316,600 $2,885,700
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Preliminary, Subject to Adjustment.
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</TABLE>
<PAGE>
MEDICAL DYNAMICS, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
(Unaudited, Preliminary)
<TABLE>
<CAPTION>
LIABILITIES AND STOCKHOLDERS' EQUITY
September, September,
30, 1996 30, 1995
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<S> <C> <C>
CURRENT LIABILITIES
Accounts payable $ 224,400 $ 188,400
Accrued expenses 58,500 50,900
Product warranty costs 15,000 25,000
Accrued royalties -0- 90,000
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Total Current Liabilities 297,900 354,300
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STOCKHOLDERS' EQUITY
Preferred stock, $.001
par value; authorized
5,000,000 shares; none
issued and outstanding -- --
Common stock, $.001 par
value; authorized
15,000,000 shares;
issued 7,221,611
and 6,885,411 shares 7,200 6,900
Additional paid-in capital 17,196,800 16,585,500
Accumulated deficit (15,106,000) (13,981,700)
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2,098,000 2,610,700
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Treasury stock at cost
15,900 shares (79,300) (79,300)
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2,018,700 2,531,400
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TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $ 2,316,600 $ 2,885,700
=========== ===========
</TABLE>
Preliminary, Subject to Adjustment.
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<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
MEDICAL DYNAMICS, INC.
Dated: October 15, 1996 By /s/ VAN A. HORSLEY
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Van A. Horsley, President
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