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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
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FORM 10-Q/A
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
FOR THE THIRTEEN AND THIRTY-NINE WEEK PERIODS
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ENDED FEBRUARY 22, 1995
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Commission File Number 0-2849
AMERICAN RECREATION CENTERS, INC.
Incorporated in California Federal Employer No. 94-1441151
11171 Sun Center Drive, Suite 120, Rancho Cordova, CA 95670
Mail Address: P.O. Box 580, Rancho Cordova, CA 95741
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Telephone: Area Code (916) 852-8005
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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
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Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date:
Capital Stock Outstanding as of February 22, 1995 - 5,019,699 shares
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AMERICAN RECREATION CENTERS, INC.
INDEX TO FORM 10-Q
FOR THE THIRTEEN AND THIRTY-NINE WEEK PERIODS
ENDED FEBRUARY 22, 1995
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PART I - FINANCIAL INFORMATION
Item 1. Financial Statements (all of which are unaudited)
Condensed Consolidated Balance Sheet 3
Consolidated Statement of Income and Retained Earnings 4
Condensed Consolidated Statement of Cash Flows 5
Notes To Condensed Consolidated Financial Statements 6-8
Item 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations 9-12
PART II - OTHER INFORMATION
Item 5. Other Information
The Company's Board of Directors has retained Allen &
Company Incorporated, a nationally recognized investment
banking firm, to assist in evaluating all reasonable
alternatives available to the Company to achieve the greatest
long-term value to the Company's shareholders, including,
but not limited to, an evaluation of an unsolicited offer from
Fulcrum Capital Partners of Providence, Rhode Island to
acquire the Company.
The Board of Directors has approved Change-in-Control Arrangements for
the Company's President, Vice President/ Treasurer and Vice
President/Bowling to compensate such key executives for their efforts
in maximizing shareholder value in any transaction that may occur. The
agreements provide for payments to the key executive officers in the
event of a change in control which leads to their termination or a
substantial change in the nature of their offices or duties. The
agreements provide for the payment of 28 months of base pay for the
President and 12 months for the Vice Presidents, plus the continuation
of existing employee benefits for the same periods.
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SIGNATURES 13
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
AMERICAN RECREATION CENTERS, INC.
Date 4-12-95 /s/ Robert A. Crist
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Robert A. Crist, President
Date 4-12-95 /s/ Karen B. Wagner
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Karen B. Wagner, Vice President/Treasurer
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