<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This Schedule contains summary financial information extracted from the
Form 10-QSB of Pure World, Inc. (formerly American Holdings, Inc.) for the nine
months ended September 30, 1995 and is qualified in its entirety by reference to
such financial statements ($000 omitted, except per share data).
</LEGEND>
<CIK> 0000356446
<NAME> Pure World, Inc.
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-mos
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> SEP-30-1995
<CASH> 9,649
<SECURITIES> 1,348
<RECEIVABLES> 898
<ALLOWANCES> 96
<INVENTORY> 1,721
<CURRENT-ASSETS> 13,779
<PP&E> 486
<DEPRECIATION> 108
<TOTAL-ASSETS> 19,158
<CURRENT-LIABILITIES> 2,158
<BONDS> 0
<COMMON> 77
0
0
<OTHER-SE> 16,923
<TOTAL-LIABILITY-AND-EQUITY> 19,158
<SALES> 4,638
<TOTAL-REVENUES> 5,490
<CGS> 2,811
<TOTAL-COSTS> 2,811
<OTHER-EXPENSES> 2,452
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 14
<INCOME-PRETAX> 213
<INCOME-TAX> 47
<INCOME-CONTINUING> 166
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 166
<EPS-PRIMARY> .02
<EPS-DILUTED> 0
</TABLE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended: September 30, 1995
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Commission File No.: 0-10566
Pure World, Inc.
(Exact name of small business issuer as specified in its charter)
Delaware 95-3419191
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
376 Main Street, Bedminster, New Jersey 07921
(Address of principal executive offices)
(908) 234-9220
(Issuer's telephone number)
American Holdings, Inc.
(Former name, former address and former fiscal year,
if changed since last report)
Check whether the issuer (1) 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 issuer was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days. Yes X No _____
State the number of shares outstanding of each of the issuer's classes of
common stock: As of October 31, 1995, the issuer had 7,704,957 shares of its
common stock, par value $.01 per share, outstanding.
Transitional Small Business Disclosure Format (check one): Yes _____ No X
<PAGE>
PART I - FINANCIAL INFORMATION
Item 1. - Financial Statements
PURE WORLD, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
(UNAUDITED)
(000 Omitted)
<TABLE>
<CAPTION>
September 30,
1995
-------------
<S> <C>
ASSETS
Cash and cash equivalents $ 9,649
Trading securities 1,348
Accounts receivable, net of allowance
for uncollectible accounts and
returns and allowances of $96 802
Inventories, net 1,721
Other current assets 259
-------
Total current assets 13,779
-------
Securities available-for-sale 1,801
Furniture and equipment, net 378
Notes receivable from affiliates 453
Goodwill 2,374
Other assets 373
-------
Total assets $19,158
=======
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Accounts payable $ 344
Accrued expenses 1,814
-------
Total current liabilities 2,158
-------
Stockholders' equity:
Common stock, par value $.01;
30,000,000 shares authorized;
7,704,969 shares issued 77
Additional paid-in capital 43,769
Accumulated deficit (26,654)
Unrealized losses on securities
available-for-sale ( 192)
-------
Total stockholders' equity 17,000
-------
Total liabilities and stockholders'
equity $19,158
=======
</TABLE>
See accompanying notes to consolidated
financial statements.
<PAGE>
PURE WORLD, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
(000 Omitted, except per share data)
<TABLE>
<CAPTION>
Three Months Ended
September 30,
--------------------------
1995 1994
------ ------
<S> <C> <C>
Revenues:
Sales $ 1,360 $ -
Net gain on sale of majority interest
in disposed-of subsidiary - 378
Net gains (losses) on marketable
securities 108 ( 7)
Interest, dividend and other income 186 277
------- -------
Total revenues 1,654 648
------- -------
Expenses:
Cost of goods sold 844 -
Personnel 326 253
Professional fees 234 279
Other 240 42
------- -------
Total expenses 1,644 574
------- -------
Income before income taxes 10 74
Provision for income taxes 2 -
------- -------
Net income $ 8 $ 74
======= =======
Net income per share $ - $ .01
======= =======
Weighted average shares outstanding
(in 000's) 7,957 7,871
======= =======
</TABLE>
See accompanying notes to consolidated
financial statements.
<PAGE>
PURE WORLD, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
(000 Omitted, except per share data)
<TABLE>
<CAPTION>
Nine Months Ended
September 30,
-------------------
1995 1994
------ ------
<S> <C> <C>
Revenues:
Sales $ 4,638 $ -
Equity in earnings of disposed-of
subsidiary - 464
Net gain on sale of majority interest
in disposed-of subsidiary - 378
Net gains on marketable securities 250 48
Interest, dividend and other income 602 653
------- -------
Total revenues 5,490 1,543
------- -------
Expenses:
Cost of goods sold 2,811 -
Personnel 1,090 579
Professional fees 556 552
Other 820 268
------- -------
Total expenses 5,277 1,399
------- -------
Income before income taxes 213 144
Provision for income taxes 47 64
------- -------
Net income $ 166 $ 80
======= =======
Net income per share $ .02 $ .01
======= =======
Weighted average shares outstanding
(in 000's) 7,752 8,247
======= =======
</TABLE>
See accompanying notes to consolidated
financial statements.
<PAGE>
PURE WORLD, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
(000 Omitted)
<TABLE>
<CAPTION>
Nine Months Ended
September 30,
-----------------
1995 1994
------- --------
<S> <C> <C>
Cash flows from operating activities:
Net income $ 166 $ 80
Adjustments:
Net gain on sale of majority
interest in disposed-of
subsidiary - ( 378)
Depreciation and amortization 200 9
Net trading securities and
U.S. Treasury securities
transactions ( 389) ( 6,565)
Change in inventories ( 262) -
Change in receivables ( 52) -
Change in accounts payable and
other accruals ( 898) -
Other, net 60 244
------- -------
Net cash used in operating
activities ( 1,175) ( 6,610)
------- -------
Cash flows from investing activities:
Purchase of a business less cash
acquired ( 2,128) -
Proceeds from sale of subsidiary - 1,500
Purchase of furniture and
equipment, net ( 176) ( 6)
Proceeds from sale of securities
available-for-sale - 69
Purchase of securities available-
for-sale ( 227) ( 1,470)
Repayment of loans from former
employees and affiliates 50 360
Other, net ( 86) ( 250)
------- -------
Net cash provided by (used in)
investing activities ( 2,567) 203
------- -------
Cash flows from financing activities:
Repurchase of common stock ( 31) ( 1,797)
Other, net ( 5) -
------- -------
Net cash used in financing
activities ( 36) ( 1,797)
------- -------
Net decrease in cash and cash
equivalents ( 3,778) ( 8,204)
Cash and cash equivalents at beginning
of period 13,427 16,483
------- -------
Cash and cash equivalents at end of
period $ 9,649 $ 8,279
======= =======
</TABLE>
See accompanying notes to consolidated
financial statements.
<PAGE>
PURE WORLD, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
SEPTEMBER 30, 1995 AND 1994
(Unaudited)
1. General
The accompanying unaudited consolidated financial statements of Pure
World, Inc. and subsidiaries (the "Company"), formerly American
Holdings, Inc., as of September 30, 1995 and for the three and nine
month periods ended September 30, 1995 and 1994 reflect all material
adjustments consisting of only normal recurring adjustments which, in
the opinion of management, are necessary for a fair presentation of
results for the interim periods. Certain information and footnote
disclosures required under generally accepted accounting principles
have been condensed or omitted pursuant to the rules and regulations of
the Securities and Exchange Commission, although the Company believes
that the disclosures are adequate to make the information presented not
misleading. These consolidated financial statements should be read in
conjunction with the year-end consolidated financial statements and
notes thereto included in the Company's Annual Report on Form 10-KSB
for the year ended December 31, 1994 as filed with the Securities and
Exchange Commission.
The results of operations for the three and nine month periods ended
September 30, 1995 and 1994 are not necessarily indicative of the
results to be expected for the entire year or any other period.
Certain reclassifications have been made in the 1994 consolidated
financial statements to conform to presentations in the 1995
consolidated financial statements. Such reclassifications have no
effect on stockholders' equity or on the results of operations.
2. Summary of Significant Accounting Policies
BASIS OF PRESENTATION
The consolidated financial statements include the accounts of the
Company and its wholly-owned subsidiaries after elimination of all
material intercompany accounts and transactions.
The results of operations of NorthCorp Realty Advisors, Inc.
("NorthCorp") are included in the Consolidated Statements of Operations
as equity in the earnings of disposed-of subsidiary through the date of
disposition in 1994.
<PAGE>
The acquisition of an 80 percent interest in Madis Botanicals, Inc.
("Madis") occurred on January 3, 1995 and was accounted for using the
purchase method. The Company acquired an additional 3% interest in
Madis in April, 1995. In accordance with Accounting Principles Board
Opinion No. 16, the purchase price will be allocated to the acquired
assets and liabilities. The Company has preliminarily allocated the
purchase price, which is subject to final determination after
additional information is obtained.
CASH AND CASH EQUIVALENTS
Cash and cash equivalents consist primarily of cash on hand, cash in
banks and treasury bills purchased with an original maturity of three
months or less.
MARKETABLE SECURITIES
The Company adopted Statement of Financial Accounting Standards No.
115, "Accounting for Certain Investments in Debt and Equity Securities"
("SFAS 115") as of January 1, 1994. SFAS 115 provides that all
investments are to be classified into three categories: debt securities
that the Company has the positive intent and ability to hold to
maturity are classified as held-to-maturity securities and reported at
amortized cost; debt and equity securities that are bought and held
principally for the purpose of selling them in the near term are
classified as trading securities and reported at fair value, with
unrealized gains and losses included in the results of operations; and
debt and equity securities not classified as either held-to-maturity
securities or trading securities are classified as available-for-sale
securities reported at fair value with unrealized gains and losses
excluded from the results of operations and reported as a separate
component of stockholders' equity.
The Company accounts for securities transactions on a trade-date
basis. For computing realized gains or losses on sale of marketable
securities, cost is determined on a first-in, first-out basis. The
effect of all unsettled transactions is accrued in the consolidated
financial statements.
INVENTORIES
Merchandise inventories are valued at the lower of cost or market. Cost
is determined by the first-in, first-out (FIFO) method.
<PAGE>
FURNITURE AND EQUIPMENT
The Company records all furniture and equipment at cost. Depreciation
is computed using the straight-line and double-declining balance
methods over the related estimated useful life of the asset. Gains or
losses on dispositions of furniture and equipment are included in
operating results.
GOODWILL
Goodwill resulting from the acquisition of Madis is being amortized
over 15 years using the straight-line method.
3. Proforma Consolidated Condensed Financial Information
The proforma consolidated condensed financial information reflects the
disposition of NorthCorp and the Washington, D.C. office of the Company
(the "Disposition") had the Disposition taken place on January 1, 1994.
The financial information also includes the operations of Madis as if
the acquisition had taken place on the same date.
The proforma financial information is not intended to reflect results
of operations which would have actually resulted had these transactions
been effected on the dates indicated. Moreover, this proforma financial
data is not intended to be indicative of results of operations which
may be attained in the future.
Pure World, Inc. and Subsidiaries
Proforma Consolidated Condensed
Financial Information
For the Nine Months Ended
September 30, 1994
(in 000's)
<TABLE>
<S> <C>
Revenues $ 4,644
Income (loss) before
income taxes $( 246)
Net loss $( 300)
Net loss per share $( .04)
</TABLE>
<PAGE>
4. Marketable Securities
At September 30, 1995, marketable securities consisted of the following
(in 000's):
<TABLE>
<CAPTION>
Gross Gross
Amortized Holding Holding Fair
Cost Gains Losses Value
--------- ------- ------- -----
<S> <C> <C> <C> <C>
Trading securities:
Corporate debt
securities $ 165 $ 29 $ - $ 194
Equity securities 1,099 55 - 1,154
------ ----- ----- ------
Total 1,264 84 - 1,348
------ ----- ----- ------
Available-for-sale:
Equity securities 1,993 11 203 1,801
------ ----- ----- ------
Total marketable
securities $3,257 $ 95 $ 203 $3,149
====== ===== ===== ======
</TABLE>
Realized gains of $71,000 and $129,000, as well as unrealized gains of
$37,000 and $121,000 on trading securities were included in the results
of operations for the three and nine months ended September 30, 1995,
respectively. The unrealized losses and gains on trading securities
included in the results of operations for the three and nine months
ended September 30, 1994 were $18,000 and $4,000, respectively. The
unrealized losses on securities available-for-sale included as a
separate component of consolidated stockholders' equity were
approximately $192,000 at September 30, 1995.
5. Inventories
Inventories are comprised of the following (in 000's):
<TABLE>
<S> <C>
Raw materials $ 260
Work-in-process 161
Finished goods 1,300
-------
Total inventories $ 1,721
=======
</TABLE>
<PAGE>
Item 2. Management's Discussion and Analysis of Financial Condition and Results
of Operations
DISPOSITION OF A SUBSIDIARY
On September 21, 1993, the Board of Directors of the Company approved a
plan to distribute the common stock of NorthCorp Realty Advisors, Inc.
("NorthCorp"), a real estate asset manager and a wholly-owned
subsidiary of the Company, to all holders of the Company's outstanding
common stock (the "Distribution"). Under the plan of distribution, the
Company declared a dividend of one share of NorthCorp common stock for
every two shares of the Company's common stock outstanding on the
record date of the Distribution, July 8, 1994.
At the date of Distribution (July 11, 1994), 8,250,000 shares of
NorthCorp common stock were outstanding. Approximately 4,000,000
shares, or 48%, of NorthCorp's common stock were distributed to the
stockholders of the Company.
On August 4, 1994, the Company sold substantially all of its remaining
interest in NorthCorp (the "Sale") to Mr. R. E. Roark and NorthCorp for
approximately $1.5 million. Mr. Roark was the sole shareholder of Crown
Revenue Services, Inc. ("Crown"), a Resolution Trust Corporation con-
tractor. As part of the transaction, Crown was reorganized as a
subsidiary of NorthCorp. NorthCorp also assumed the lease of the
Company's Washington D.C. office and the employment contract of one of
the Company's executive officers.
NorthCorp's results of operations have been included in the
consolidated financial statements through the date of sale in 1994 as
equity in the earnings of disposed-of subsidiary.
ACQUISITION OF MADIS BOTANICALS, INC.
On January 3, 1995, the Company's wholly-owned subsidiary merged (the
"Merger") with Dr. Madis Laboratories, Inc., a New Jersey corporation
located in South Hackensack, New Jersey. The surviving corporation in
the Merger operates under the name of Madis Botanicals, Inc. ("Madis").
Madis is owned 83% by the Company and 17% by the former shareholders of
Madis. In addition, the Company issued to the former Madis shareholders
options to acquire 250,000 shares of the Company's common stock at its
approximate book value of $2.10 per share. Madis, a manufacturer of
botanical extracts, had sales of approximately $6.0 million and income
before reorganization items and income taxes of $731,000 in 1994
compared to sales of $5.2 million and income before reorganization
items and income taxes of $594,000 in 1993.
<PAGE>
The Merger was effected in connection with a Plan of Reorganization
(the "Plan") filed by Madis in Chapter 11 proceedings under the Federal
Bankruptcy Law. Under the terms of the Merger, the Company financed the
Plan which provided for the payment to the creditors of $3.4 million,
of which approximately $2.1 million was advanced by the Company and
approximately $900,000 was paid by Madis from funds on hand. The
balance of the predecessor corporation's indebtedness was assumed by
the surviving corporation and will be paid as due from working capital
or by the Company in the event of any deficiency.
Two principal shareholders of Madis, who were also executive officers,
received employment agreements under which one serves as chairman
emeritus of the surviving corporation for a period of three years at an
annual salary of $100,000 and the other serves as vice-chairman for a
period of four years at an annual salary of $150,000. The premises
occupied by the surviving corporation are leased from the former Madis
shareholders at an annual rent of $240,000, net, plus 1% of gross
revenues up to an additional $200,000 per annum. The Company believes
the rental represents the fair market value.
PROFORMA CONSOLIDATED CONDENSED FINANCIAL INFORMATION
Proforma consolidated condensed financial information is included in
Note 3 of Notes to Consolidated Financial Statements. The proforma
information reflects the disposition of NorthCorp and the Washington
D.C. office of the Company (the "Disposition") had the Disposition
taken place on January 1, 1994. The results of operations also include
the operations of Madis as if the acquisition of Madis had taken place
on the same date.
The proforma financial information is not intended to reflect results
of operations which would have actually resulted had these transactions
been effected on the dates indicated. Moreover, this proforma financial
data is not intended to be indicative of results of operations which
may be attained in the future.
LIQUIDITY AND CAPITAL RESOURCES
At September 30, 1995, the Company had cash and cash equivalents of
$9.6 million. Cash equivalents of $9.4 million consisted of U.S.
Treasury bills with an original maturity of less than three months and
yields ranging between 5.32% and 5.57%. The Company also had trading
securities with a current market value of approximately $1.3 million at
September 30, 1995. The Company had net working capital of $11.6
million and no funded debt. The management of the Company believes
<PAGE>
that the Company's financial resources and anticipated cash flows will
be sufficient for future operations and possible acquisitions of other
operating businesses.
In connection with the acquisition of NorthCorp in 1992 by the Company,
two officers of NorthCorp were paid an aggregate of $1,125,000 by
NorthCorp, which was used to acquire an aggregate of 750,000 shares of
Company stock ("Officer Shares"). In addition, the Company advanced
$180,000 to each of the officers to pay federal income taxes resulting
from this cash payment. The advances bore interest at the minimum rate
allowed under the Internal Revenue Code and were secured by their
shares of the Company's common stock.
The advances and accrued interest were repaid by the officers from the
proceeds of a partial sale of the Officer Shares to the Company in
February, 1994, in connection with their resignation as officers and
directors of NorthCorp. The remaining shares were subsequently
repurchased from the officers in 1994.
The Company did not repurchase any shares of its common stock during
the three-month period ended September 30, 1995, but did repurchase
21,192 shares of its common stock at an aggregate purchase price of
$31,000 during the nine months ended September 30, 1995. During the
comparable periods in 1994, the Company repurchased 165,013 and
1,168,653 shares at an aggregate cost of $219,000 and $1,797,000, re-
spectively. All shares repurchased have been returned to the status
of authorized but unissued.
Net cash of approximately $1.2 million was used in operations for the
nine months ended September 30, 1995. Net purchases of marketable
securities and U.S. Treasury securities with maturities greater than
three months of $.4 million and decreases in current liabilities of $.9
million, principally at Madis, accounted for this use of cash.
For the nine months ended September 30, 1994, net cash of approximately
$6.6 million was used in operations. Net purchases of marketable
securities and U.S. Treasury securities with maturities greater than
three months of $6.6 million were the principal reason for this
decrease.
RESULTS OF OPERATIONS
The Company had net income of $8,000 for the three months ended
September 30, 1995 compared to net income of $74,000 for the comparable
period in 1994. For the nine months ended September 30, 1995, net
income was $166,000, or $.02 per share, compared to net income of
$80,000, or $.01 per share, for the comparable period in the prior
year. The consolidated results of operations in 1994 include the equity
in earnings of NorthCorp and the net gain on sale of disposed-of
subsidiary.
<PAGE>
Madis had sales of $1.4 million and $4.6 million for the three and nine
months ended September 30, 1995, respectively, compared to $1.5 million
and $4.6 million for the same periods in 1994. For the three and nine
months ended September 30, 1995, the cost of goods sold was $.8 million
and $2.8 million, respectively, compared to $1.0 million and $3.0
million for the same periods in 1994. Gross margin was $.6 million and
$1.8 million for the three and nine months ended September 30, 1995,
compared to $.5 million and $1.6 million for the respective periods in
1994. Since the acquisition of Madis was accounted for as a purchase,
the results of operations of Madis have been included in the
consolidated financial statements since January 3, 1995, the date of
acquisition. Financial information of Madis from 1994 has been included
for comparison purposes only.
For the three and nine months ended September 30, 1995, the Company
recorded net gains on marketable securities of $108,000 and $250,000,
respectively, compared to a net loss of $7,000 and a net gain of
$48,000 for the same periods in 1994. Net gains on marketable
securities for the nine-month periods in 1995 and 1994, respectively,
are composed of realized gains of $129,000 and $44,000 and unrealized
gains of $121,000 and $4,000. The increase in net gains on marketable
securities was due to the changes in portfolio composition and general
market conditions. A charge to stockholders' equity of $742,000 was
recorded in 1994 to reflect the decrease in market value of securities
available-for-sale. The unrealized losses on securities held-for-sale
decreased by $550,000 in the first nine months of 1995 ($316,000 in the
quarter ended September 30, 1995) to $192,000 at September 30, 1995,
reflecting an increase in the market value of these securities. This
net charge related primarily to the Company's investment in a real
estate investment trust ("REIT"). The Company had undertaken two proxy
contests to protect its investment in the REIT.
Interest, dividend and other income was $186,000 and $602,000 for the
three and nine months ended September 30, 1995, respectively, compared
to $277,000 and $653,000 for the three and nine months ended September
30, 1994. Interest income was $488,000 during the nine month period in
1995, an increase of $57,000 from the $431,000 recorded in the
comparable period of 1994. This increase was due to higher average
interest rates on the Company's cash equivalents and U.S. Treasury
securities and interest on notes receivable from affiliates. Dividend
income for the nine-month period was $108,000 in 1995 compared to
$10,000 in 1994. The increase in dividends was due to a change in
portfolio composition. All other income decreased from $212,000 in the
<PAGE>
nine months ended September 30, 1994 to $6,000 in 1995. In 1994 all
other income was primarily comprised of revenue from the Washington
D.C. office of the Company which was disposed of in August, 1994.
Personnel expenses were $.3 million and $1.1 million during the three
and nine months ended September 30, 1995, respectively, compared to $.3
million and $.6 million in the comparable periods in 1994. This in-
crease was predominantly due to the acquisition of Madis. Professional
fees were $.2 million and $.6 million during the three and nine month
periods in 1995, compared to $.3 million and $.6 million in the three
and nine month periods in 1994. The professional fees in 1995 were
incurred primarily in the operations of Madis. Professional fees incur-
red in the 1994 periods were due to proxy contests in connection with
the Company's REIT investment and the distribution of NorthCorp common
stock to the stockholders of the Company. Other expenses increased in
the three and nine months ended September 30, 1995 compared to the 1994
periods due principally to the acquisition of Madis. Other expenses
include the amortization of goodwill of approximately $40,000 and
$120,000 for the three and nine months ended September 30, 1995.
<PAGE>
PART II - OTHER INFORMATION
Item 4. - Submission of Matters to a Vote of Security Holders
The Company held its Annual Meeting of Stockholders on September 27,
1995. All nominees to the Company's Board of Directors were elected.
The following is a vote tabulation for all nominees:
For Withheld
--------- --------
Paul O. Koether 6,881,495 21,005
Richard M. Bossert 6,881,459 21,041
Mark W. Jaindl 6,881,576 20,924
William Mahomes, Jr. 6,881,086 21,414
Alfredo Mena 6,881,545 20,955
At the Annual Meeting, the stockholders also voted to approve the
amendment to the Certificate of Incorporation of American Holdings,
Inc. to change the corporate name to Pure World, Inc.
Item 6. - Exhibits and Reports on Form 8-K
(a) Exhibits
27. Financial Data Schedule for the nine months ended
September 30, 1995.
(b) Reports on Form 8-K
No reports on Form 8-K were filed during the quarter for which this
report is being filed.
<PAGE>
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
PURE WORLD, INC.
Dated: November 13, 1995 By: /s/ Mark Koscinski
------------------------
Senior Vice President and
Chief Accounting Officer
