UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB/A
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
FOR THE QUARTERLY PERIOD ENDED MARCH 31, 1997
COMMISSION FILE NUMBER 0-12666
AMERICAN FINANCIAL HOLDING, INC.
(Exact name or registrant as specified in charter)
DELAWARE 87-0458888
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
225 SOUTH 200 WEST, SUITE 302, FARMINGTON, UTAH 84025
(Address of principal executive offices)
(801) 451-9580
(Registrant's telephone number, including area code)
(Former name, former address, and former fiscal year, if changed since last
report)
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 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. Yes [ X ] No [ ]
APPLICABLE ONLY TO CORPORATE ISSUERS:
The Company had 4,279,449 shares of common stock, par value $0.01 per
share, issued and outstanding as of August 14, 1997.
PART II.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits.
None
(b) Reports on Form 8-K
During the quarter ended March 31, 1997, the Company filed the
following report on Form 8-K:
Date of Event Reported Item(s) Reported
January 22, 1997 Item 5. Other Events
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the balance
sheet as of March 31, 1997 and statements of operations for the three months
ended March 31, 1997, and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> MAR-31-1997
<CASH> 308,587
<SECURITIES> 65,050
<RECEIVABLES> 209,732
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 583,369
<PP&E> 142,516
<DEPRECIATION> 67,792
<TOTAL-ASSETS> 885,519
<CURRENT-LIABILITIES> 1,308,111
<BONDS> 630,407
0
0
<COMMON> 42,794
<OTHER-SE> (1,095,793)
<TOTAL-LIABILITY-AND-EQUITY> 885,519
<SALES> 724,260
<TOTAL-REVENUES> 724,260
<CGS> 592,429
<TOTAL-COSTS> 226,039
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 12,658
<INCOME-PRETAX> (49,493)
<INCOME-TAX> 0
<INCOME-CONTINUING> (49,493)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (49,493)
<EPS-PRIMARY> (0.01)
<EPS-DILUTED> (0.01)
</TABLE>
