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Previous: FIDELITY SCHOOL STREET TRUST/, DEFA14A, 1998-01-20 |
Next: FIDELITY COURT STREET TRUST, 485BPOS, 1998-01-20 |
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: December 31, 1997
MEDICAL DYNAMICS, INC.
----------------------------------------------------
(Exact name of Registrant as specified in its charter)
Commission file number: 0-8632
Colorado 84-0631765
- ------------------------------- --------------
(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification
Number)
99 Inverness Drive East
Englewood, Colorado 80112
- --------------------------------------- --------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(303) 790-2990
not applicable
-------------------------------------------
former name or former address, if applicable
-1-
<PAGE>
Item 5: Other Events
Medical Dynamics, Inc. (the "Company") is filing herewith its unaudited
preliminary balance sheet as of December 31, 1997. 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.
-2-
<PAGE>
Medical Dynamics, Inc. and Subsidiary
Consolidated Balance Sheets
(Unaudited, Preliminary)
December
31, 1997
----------
ASSETS:
CURRENT ASSETS:
Cash and Cash Equivalents $ 126,179
Short Term Investments 1,103,072
----------
Total Cash and Investments 1,229,252
Trade Receivables, less
allowance for doubtful
accounts of $127,892 638,248
Inventories, net allowance
for obsolescence of $626,966 572,664
Prepaid Expenses 134,614
----------
Total Current Assets 1,345,526
EQUIPMENT:
Loaner Equipment 306,359
Machinery & Equipment 324,321
Autos & Trucks 38,876
Furniture & Fixtures 236,661
Leasehold Improvements 54,477
----------
900,694
Less Accumulated Deprecia-
tion and Amortization 773,370
----------
187,324
OTHER ASSETS:
Capitalized Software Development
Costs net of Accumulated
Amortization of $101,128 2,747,487
Capitalized Technical Support Contracts
net of Acc. Depreciation of $74,231 1,410,269
Covenants net of Amortization of 182,559
Patents, Patents Pending and
Trademarks, net of Accumulated
Amortization of $738,587 56,857
Goodwill, net of Accumulated
Amortization of $11,289 666,042
Other 22,628
----------
5,085,853
----------
TOTAL ASSETS: $7,847,956
==========
Preliminary, Subject to Adjustment.
-3-
<PAGE>
Medical Dynamics, Inc. and Subsidiary
Consolidated Balance Sheets
(Unaudited, Preliminary)
December
31, 1997
------------
LIABILITIES AND STOCKHOLDERS' EQUITY:
CURRENT LIABILITIES:
Accounts Payable $ 382,866
Accrued Expenses 141,027
Customer Deposits 6,288
Notes Payable 400,000
Federal / State tax Liability 128,968
------------
Total Current Liabilities 1,059,149
LONG TERM LIABILITIES:
Deferred Revenue 376,499
Debenture Liability 1,100,000
Other Long Term Liability 43,251
------------
Total Long Term Liabilities 1,519,750
STOCKHOLDERS' EQUITY:
Common stock; $.001
par value; authorized
15,000,000 shares;
issued 9,255,736 9,256
Additional Paid-in Capital 22,839,092
Accumulated Deficit (17,271,587)
Net Profit / (Loss) Current Year (307,705)
------------
Total Stockholders' Equity 5,269,056
------------
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY: $ 7,847,956
============
Preliminary, Subject to Adjustment.
-4-
<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.
January 19, 1998 By: /s/ Van A. Horsley
----------------------------------
Van A. Horsley, President
-5-
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