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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-KSB/A-1
[ X ] ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]
For the fiscal year ended December 31, 1995
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the transition period from to
Commission File Number 0-10329
AW COMPUTER SYSTEMS, INC.
-------------------------
(Name of Small Business Issuer in its Charter)
New Jersey 22-1991981
---------- ----------
(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
9000A Commerce Parkway, Mt. Laurel, New Jersey 08054
----------------------------------------------------
(Address of principal executive offices) (Zip Code)
609-234-3939
------------
Issuer's telephone number, including area code
Securities registered pursuant to Section 12(b) of the Exchange Act:
--------------------------------------------------------------------
None
Securities registered pursuant to Section 12(g) of the Act:
Class A Common Shares, par value $.01 per share
-----------------------------------------------
(Title of Class)
Check whether the issuer (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past twelve months (or for
such shorter period that the registrant was required to file such reports) and
(2) has been subject to such filing requirements for the past ninety days. Yes X
No
Check if disclosure of delinquent filers pursuant to Item 405 of Regulation S-B
is not contained in this form, and no disclosure will be contained to the best
of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-KSB or any amendment to
this Form 10-KSB. [ X ]
Check whether the issuer has filed all documents and reports required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of
securities under a plan confirmed by a court. Yes No N/A
X
Issuer's revenues for its most recent fiscal year: $3,424,341
As of March 20, 1996, the aggregate market value (based on the average closing
bid and asked quotations) of the 3,546,134 Class A Common Shares held by
non-affiliates of the Company was $11,634,866 and a total of 4,754,644 Class A
Common Shares of the Company were issued and outstanding.
Documents Incorporated by Reference:
- ------------------------------------
Notice of and Proxy Statement for Annual Meeting of Shareholders to be held
August 12, 1996 incorporated by reference into Part III hereof to the extent
indicated herein.
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Registrant hereby adds, amends, and restates the items relating to the Form
10-KSB for the year ended December 31, 1995 and dated May 8, 1996 on the
following pages.
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AW COMPUTER SYSTEMS, INC.
CONSOLIDATED BALANCE SHEETS, DECEMBER 31, 1995 AND 1994
ASSETS
<TABLE>
<CAPTION>
<S> <C> <C>
Current Assets:
Cash and cash equivalents $ 848,560 $ 1,468,778
Accounts and contract receivables,
less allowance for doubtful
accounts of $110,000 in 1995 and
$240,500 in 1994 604,957 521,899
Costs and estimated earnings in excess
of billings on uncompleted
contracts 458,237 1,418,792
Inventories 514,791 746,254
Income taxes receivable 280,445 574,533
Prepaid and other current assets 101,558 86,808
--------- ---------
Total current assets 2,808,548 4,817,064
Property and equipment, net 669,194 902,742
Computer software, net 363,626 112,814
Other assets 52,885 51,202
--------- ----------
Total assets $ 3,894,253 $ 5,883,822
========== ==========
</TABLE>
LIABILITIES AND SHAREHOLDERS' EQUITY
<TABLE>
<S>
<C> <C>
Current liabilities:
Line of credit $ 550,000 $ 550,000
Current portion of long-term debt 225,000 633,333
Current portion of lease obligations 6,918 16,341
Accounts payable 291,870 208,726
Accrued contract costs 332,653 59,525
Accrued liabilities 134,515 122,218
Accrued compensation 71,984 ---
Billings in excess of cost and
estimated earnings on
uncompleted contracts --- 8,582
Other current liabilities 51,057 87,383
--------- ---------
Total current liabilities 1,663,997 1,686,108
Capitalized lease obligations 8,542 15,461
Pension cost 135,258 108,206
Commitments & Contingencies
Shareholders' Equity
Common shares:
Class A, $.01 par; authorized 10,000,000
shares; 4,467,544 and 3,897,969
issued and outstanding in 1995
& 1994, respectively 44,676 38,980
Additional paid in capital 1,895,992 1,564,695
Retained earnings 181,354 2,522,372
Deferred compensation ( 35,566) ( 52,000)
--------- ---------
Total shareholders' equity 2,086,456 4,074,047
--------- ---------
Total liabilities and share-
holders' equity $ 3,894,253 $ 5,883,822
========= =========
</TABLE>
The accompanying notes are an integral part of the
financial statements
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SIGNATURES
In accordance with Section 13 or 15(d) of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
AW COMPUTER SYSTEMS, INC.
(Registrant)
By:/s/Robert O'Connor
Robert O'Connor
Controller and Treasurer
(Principal Financial Officer)
Dated: May 10, 1996
