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FORM 10-Q
AMENDMENT #2
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.20549
(Mark One)
{X} QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarterly period ended March 31, 1995
OR
{ } TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the transition period from to
-----------------------------
Commission file number 0-11927
Moto Photo Inc.
(Exact name of registrant as specified in its charter)
Delaware 31-1080650
(State or other jurisdiction of (IRS Employer Identification Number)
Incorporation or organization)
4444 Lake Center Dr. Dayton, OH 45426
(Address of principal executive offices with Zip Code)
(513) 854-6686
(Registrant's telephone number, including area code)
No Change
(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 ISSUERS IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS.
Indicate by check mark whether the registrant has filed all documents and
reports required to be filed by Sections 12, 13 or 15(d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under a plan
confirmed by a court.
Yes No
----- -----
APPLICABLE ONLY TO CORPORATE ISSUERS
Indicate the number of shares outstanding of each of the issuer's classes of
common stock: As of May 8, 1995: 7,782,640 - Voting Common
0 - NonVoting Common
<TABLE>
EXHIBIT 11 -- COMPUTATION OF PER Three Three
SHARE EARNINGS Months Months
Ended Ended
Mar 31 1995 Mar 31 1994
<CAPTION>
<S> <C> <C>
PRIMARY
Average common shares and equivalents 7,388,334 5,636,377
outstanding
Net effect of dilutive common stock
equivalents -- based on the treasury
stock method using average market
price (A) (B)
TOTAL 7,388,334 5,636,377
NET INCOME $ (392,968) $ (309,956)
Adjustment to Income Applicable to
Common Stock 673,219 0
Less preferred stock dividend
requirements (87,824) (276,944)
NET INCOME (LOSS) APPLICABLE TO COMMON $ 192,427 $ (586,900)
STOCK
PER SHARE AMOUNT $ 0.03 $ (0.10)
FULLY DILUTED
Average common shares and equivalents
outstanding 7,388,334 5,636,377
Net effect of dilutive common stock
equivalents --
based on the treasury stock method
using the year end
market price, if higher than average
market price (A) (A)
Assumed conversion of Series E, F and
G convertible preferred shares 5,671,747 4,232,804
Assumed conversion of $1.20 cumulative
convertible preferred shares 0 835,000
TOTAL 13,060,081 10,704,181
NET INCOME (LOSS) $ (392,968) $ (309,956)
Adjustment to Income Applicable to
Common Stock - Convert $1.20 Pref 673,219 0
Adjustment to Income Applicable to
Common Stock- Convert Series E F & G 1,380,853 761,128
FULLY DILUTED NET INCOME $ 1,661,104 $ 451,172
PER SHARE AMOUNT $ 0.13 $ 0.04
</TABLE>
(A) Less than 3%.
(B) The effects of conversions of common stock equivalents to
common stock and conversion of preferred shares to common stock
are anti-dilutive to the earnings per share calculations.
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Moto
Photo Inc.'s 1995 First Quarter 10-Q and is qualified in its entirety
by reference to such 10-Q filing.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> MAR-31-1995
<CASH> 343,993
<SECURITIES> 0
<RECEIVABLES> 6,155,853
<ALLOWANCES> 1,152,000
<INVENTORY> 1,655,692
<CURRENT-ASSETS> 8,035,913
<PP&E> 3,151,248
<DEPRECIATION> 8,777,092
<TOTAL-ASSETS> 24,417,465
<CURRENT-LIABILITIES> 9,997,864
<BONDS> 0
<COMMON> 77,826
0
10,000
<OTHER-SE> 7,096,074
<TOTAL-LIABILITY-AND-EQUITY> 24,417,465
<SALES> 7,053,905
<TOTAL-REVENUES> 8,345,452
<CGS> 3,563,571
<TOTAL-COSTS> 6,314,098
<OTHER-EXPENSES> 765,431
<LOSS-PROVISION> 51,831
<INTEREST-EXPENSE> 77,817
<INCOME-PRETAX> (713,968)
<INCOME-TAX> (321,000)
<INCOME-CONTINUING> (392,968)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (392,968)
<EPS-PRIMARY> .03
<EPS-DILUTED> .13
</TABLE>
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