<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): DECEMBER 6, 1996
PERSONAL DIAGNOSTICS, INCORPORATED
(Exact name of registrant as specified in its charter)
New Jersey 0-10128 22-2325136
(State or other jurisdiction Commission IRS Employer
of incorporation) File Number Identification No.
3 Entin Road, Parsippany, New Jersey 07054
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (201) 952-9000
N/A
(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS.
Personal Diagnostics, Incorporated (the "Company") in a Form 8-K filing
dated December 4, 1996 called attention to a decision by the Company to remove a
25 percent guideline on the percentage of the Company's assets and net worth
which may be exposed to loss in speculative trading.
The Company noted that Management believed the Stock Market to be
seriously over-priced and wished to capitalize on this situation by shorting the
market somewhat in excess of this guideline.
The Company noted that at the close of business December 4, 1996 the
Company would realize a loss of approximately $350,000 should it liquidate its
positions on that day.
On December 6, 1996, Management's judgment of the market was confirmed
and the Company liquidated all trading positions. The Company realized a
non-recurring pre-tax gain of
<PAGE> 2
approximately $425,000 which will be reflected in the Company's results for its
first fiscal 1997 Quarter ending December 31, 1996.
The Company does not expect to engage in any trading activities for the
balance of this Quarter and subsequently intends to limit its potential loss
from trading activities to no more than 20 percent of net worth.
The Company's primary focus is to enlarge its standard commercial
operations by an acquisition, combination, or start-up operation. This issue
will be discussed in more complete detail in the Company's 10-K Annual Report on
Form 10-K to be filed shortly with the Securities and Exchange Commission.
At December 9, 1996 the Company's assets were held exclusively in U.S.
Treasury Bills, Cash and Real Estate held for improvement and sale.
SIGNATURES
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 hereunto duly authorized.
PERSONAL DIAGNOSTICS, INCORPORATED
Dated: December 9, 1996 By: /s/ John H. Michael
---------------------
John H. Michael, Chairman
President and Chief Executive Officer
2
