U.S. Securities and Exchange Commission
Washington D. C. 20549
FORM 10-QSB/A
(AMENDMENT NO. 1)
(Mark One)
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15 (D) OF
THE SECURITIES EXCHANGE ACT OF 1934
FOR THE QUARTERLY PERIOD ENDED JANUARY 31, 1998
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15 (D) OF
THE EXCHANGE ACT
FOR THE TRANSITION PERIOD FROM_________ TO ________
COMMISSION FILE NO. 0-10841
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ENERGY OPTICS, INC.
(EXACT NAME OF SMALL BUSINESS ISSUER AS SPECIFIED IN ITS CHARTER)
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NEW MEXICO 85-0273340
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(STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION) IDENTIFICATION NO.)
29425 C.R. 561, TAVARES, FLORIDA 32778
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
(352) 742-5010
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(ISSUER'S TELEPHONE NUMBER)
(FORMER NAME, FORMER ADDRESS AND FORMER FISCAL YEAR,
IF CHANGED SINCE LAST REPORT)
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 12 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 90 DAYS.
(1) YES X NO __ (2) YES X NO __
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS
CHECK WHETHER THE REGISTRANT 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 COURT. YES __ NO __
APPLICABLE ONLY TO CORPORATE ISSUERS
STATE THE NUMBER OF SHARES OUTSTANDING OF EACH OF THE ISSUER'S CLASSES OF
COMMON EQUITY, AS OF THE LATEST PRACTICABLE DATE: 12,239,814 AS OF MARCH 22,
1998
TRANSITIONAL SMALL BUSINESS DISCLOSURE FORMAT (CHECK ONE):
YES __ NO X
THIS AMENDMENT IS FILED TO AMEND STATEMENT OF CASH FLOWS FOR THE SIX MONTHS
ENDED JANUARY 31, 1997 INCLUDED IN ITS FORM 10-QSB FILED MARCH 24, 1998.
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ENERGY OPTICS, INC. AND SUBSIDIARIES
(UNAUDITED)
CONSOLIDATED STATEMENTS OF CASH FLOWS
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(RESTATED
NOTE 1)
FOR THE SIX MONTHS ENDED JANUARY 31, 1998 1997
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CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss) $(3,927,313) $ 321,047
Adjustments to reconcile net income (loss) to net
cash used provided by operating activities:
Depreciation and amortization, included in selling, general and
administrative 21,685
Loss attributable to minority interest 4,422
Loss from discontinued operations 2,350,640
Stock exchanged for payment of operating expenses 623,172 2,260
Loss on asset disposition 5,200
Forgiveness of debt - (337,218)
Stock exchanged for interest on note payable - 3,743
(Increase) decrease in assets:
Accounts receivable (152,745) -
Net current assets of discontinued operations (147,909) -
Prepaid expenses (10,969) -
Other assets (8,037) -
Net other assets of discontinued operations (309,600) -
Increase (decrease) in liabilities:
Accounts payable 130,748 9
Net current liabilities of discontinued operations 309,260 -
Accrued expenses and other liabilities 35,055 -
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NET CASH USED BY OPERATING ACTIVITIES (1,076,391) (10,159)
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CASH FLOWS FROM INVESTING ACTIVITIES:
Disbursements
Purchase of property, plant and equipment (52,738) -
Other (8,037) -
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DISBURSEMENTS FROM INVESTING ACTIVITIES (60,775) -
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NET CASH USED BY INVESTING ACTIVITIES (60,775) -
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CASH FLOWS FROM FINANCING ACTIVITIES:
Receipts
Sale of common stock 70,740 -
Sale of common stock to minority interests 394,059 -
Capital lease for equipment 37,933 -
Proceeds from others 14,591
Proceeds from related parties 613,850 14,900
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RECEIPTS FROM FINANCING ACTIVITIES 1,131,173 14,900
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Disbursements
Payments on capital lease for equipment (14,589) -
Principal payments on note payable to Small Business Administration - (4,000)
Payments on notes payable to stockholders/officers (1,500)
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DISBURSEMENTS FROM FINANCING ACTIVITIES (16,089) (4,000)
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NET CASH PROVIDED BY FINANCING ACTIVITIES 1,115,084 10,900
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NET INCREASE IN CASH AND EQUIVALENTS (22,082) 741
CASH AND EQUIVALENTS - BEGINNING 536 465
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CASH AND EQUIVALENTS (BANK OVERDRAFT) - ENDING $ (21,546) $ 1,206
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SUPPLEMENTAL DISCLOSURES:
Common stock issued for acquisition of net assets of consolidated subsidiaries $ 1,454,778 $ -
Common stock issued for acquisition of property, plant and equipment $ 1,529,815 $ -
Common stock issued for acquisition of 20% owned subsidiary $ 49,215 $ -
Common stock issued in exchange for note payable to officer/director $ - $ 55,170
Common stock issued for settlement of debt to Small Business Administration $ - $ 40,000
Note payable issued in exchange for real estate $ 258,900 $ -
Interest paid $ 6,473 $ -
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SEE ACCOMPANYING NOTES.
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Pursuant to the requirement of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, hereunto duly authorized.
ENERGY OPTICS, INC.
DATED: April 30, 1998 By: /s/ JAMES C. STATHAM
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James C. Statham, President
(Principal Executive Officer)
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Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of the Registrant and
in the capacities and on the dates indicated.
DATED: April 30, 1998 By: /s/ JAMES C. STATHAM
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James C. Statham, President, Director and
Chief Executive Officer
(Principal Executive Officer)
DATED: April 30, 1998 By: /s/ SHIRLEY HARMON
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Shirley Harmon, Director
DATED: April 30, 1998 By: /s/ TOM ROBERTS
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Tom Roberts, Treasurer
(Principal Financial Officer)
DATED: April 30, 1998 By: /s/ RENEE RIEGLER
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Renee Riegler, Secretary
(Corporate Secretary)
