SECURITIES AND EXCHANGE COMMISSION
Washington, DC
Form 10-QSB/A
Quarterly Report under Section 13 or 15(d) of
the Securities Exchange Act of 1934
For the quarter ended March 31, 1998 Commission File No. 0-774
DANIEL GREEN COMPANY
(Exact name of registrant as specified in its charter)
MASSACHUSETTS 15-0327010
(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
DOLGEVILLE, NEW YORK 13329
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (315) 429-3131
Former name, former address and former fiscal year, if changed since last
report: None.
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 Act of 1934 during the preceding twelve months and (2)
has been subject to the filing requirements for at least the past
90 days. YES X NO
CLASS OUTSTANDING AT MARCH 31, 1998
Common Stock $2.50 par value 1,698,329
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DANIEL GREEN COMPANY
INDEX
Page
Number
Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
1. Amendment to Part I - Financial Information, Item 1. . . . . 2
Statements of Cash Flows for the three months ended
March 31, 1998 and March 31, 1997 . . . . . . . . . 3
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1. Amendment to Part I - Financial Information, Item 1
The Statements of Cash Flows for the three months ended March 31, 1998
and March 31, 1997 is amended in its entirety to read as set forth below.
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DANIEL GREEN COMPANY
Statements of Cash Flows
(Unaudited)
For the Three Months Ended
March 31 March 31
1998 1997
---------- ---------
Operating Activities:
Net Loss $ (702,409) $ (436,246)
Adjustments to reconcile net loss to net
cash provided by (used in) operating
activities:
Depreciation 65,876 87,624
Amortization 0 6,134
Changes in assets & liabilities:
(increases) decreases in:
Accounts Receivable, trade 2,311,132 2,519,707
Income Tax Refund Receivable (430,897) (268,437)
Inventories 157,660 (1,549,638)
Other Current Assets 65,656 3,727
Other Assets 92,470 (4,966)
increases (decreases) in:
Accounts Payable, trade 183,954 264,273
Accrued Salaries (68,671) (136,956)
Income Taxes Payable (421,389) 0
Deferred tax liability 0 (258,193)
Other Accrued Liabilities (222,719) 216,970
---------- ---------
Net Cash Provided by Operating Activities 1,030,663 444,000
Investing Activities:
Purchase of property & equipment (25,710) (2,841)
---------- ---------
Net Cash Used in Investing Activities (25,710) (2,841)
Financing Activities:
Net Payments
on Line of Credit (1,760,195) (237,839)
Repayments of Notes Payable (140,238) (195,513)
0 (8,507)
Net Cash Used in Financing Activities (1,900,433) (441,908)
Net Decrease in Cash (895,480) (749)
Cash at Beginning of Period $901,875 94,875 13,213
---------- ---------
Cash at End of Period $ 6,395 $ 12,464
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See notes to financial statements.
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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.
DANIEL GREEN COMPANY
Registrant
Date: June 30, 1998 /s/ Stanley W. Kabot
Stanley W. Kabot
Chief Financial Officer,
Treasurer
