R866
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
AMMENDMENT TO APPLICATION OR REPORT FILED PURSUANT
TO SECTION 12, 13, OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 1994
Commission File No. 2-70197
OCEAN BIO-CHEM, INC.
(Exact name of registrant as specified in its charter)
Florida 59-1564329
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
4041 S. W. 47 Avenue, Ft. Lauderdale, FL 33314
(Address of principal executive offices) (Zip Code)
The undersigned registrant hereby amends the following items, financial
statements, exhibits or other portions of this quarterly report for the period
ended September 30, 1994 as set forth in the pages attached hereto.
INDEX
Item 2 Management's Discussion and Analysis of Page 2
Financial Condition and Results of Operations
OCEAN BIO-CHEM, INC.
AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Liquidity and Capital Resources
The primary sources of the Registrant's liquidity are its operations and short
term borrowings from a commercial lender. Currently the Registrant has available
a line of credit for $1,500,000 and a 30 month note for $350,000 that expires in
July 1995. The note requires monthly payment of principal plus 1% interest over
prime.
The Registrant is involved in making sales in the Canadian market and must
deal with the currency fluctuations of the Canadian currency. The Registrant
does not engage in currency hedging and deals with such currency risk as a
pricing issue.
During the past few years Registrant has introduced various new products to the
market. This has required the Registrant to carry greater amounts of overall
inventory and has resulted in lower inventory turnover rates. The effects of
such inventory turnover have not been material to the overall operations of
Registrant. Registrant believes that all required capital to maintain such
increases can continue to be provided from operations and current lending
arrangements.
Pursuant to the requirements of the Securities and exchange Act of
1934, the registrant has duly caused this mendment to be signed on its
behalf by the undersigned, thereunto duly authorized.
Date September 1, 1995
/s/ PETER DORNAU
Peter Dornau, President
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