UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB/A
(X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarter ended September 30, 1999
( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _________to_________
Commission File No. 0-12374
EQUITEX, INC.
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(Exact Name of Registrant as Specified in its Charter)
Delaware 84-0905189
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(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
7315 East Peakview Avenue
Englewood, Colorado 80111
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(Address of principal executive offices) (Zip code)
(303) 796-8940
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(Registrant's telephone number including area code)
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, and (2) has been subject to such filing requirements
for the past 90 days. Yes [X] No [ ]
Number of shares of common stock outstanding at November 12, 1999: 7,106,943
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EQUITEX, INC.
INDEX
. PAGE
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PART II. OTHER INFORMATION
Item 5. Market for Registrant's Common Equity
and Related Stockholder Matters 1
Signatures 2
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PART II. OTHER INFORMATION
Item 2. Changes in Securities
On July 7, 1999, the Registrant issued 35,000 shares of it common stock in
exchange for 35,000 warrants to purchase common stock at $5.00 per share to
an accredited investor. The Registrant relied on the exemptions from
registration provided by Sections 4(2) and/or 4(6) of the Securities Act of
1933, as amended (the "Act") and/or Rule 506 promulgated thereunder.
On August 23, 1999, the Registrant issued 250 shares of its Series E
Preferred Stock valued at $2,531,000 to the stockholders of First Bankers
Mortgage Services, Inc. ("FBMS") in consideration for the acquisition of
FBMS. Each share of Series E Convertible Preferred Stock automatically
converts to 1,000 shares of common stock upon (i) the approval of an
increase in the authorized shares of common stock from 7,500,000 shares to
50,000,000 or the subsequent merger of the Company with or into another
company or (ii) the sale of substantially all the Registrant's assets. The
Registrant relied on the exemptions from registration provided by Sections
4(2) and/or 4(6) of the Act and/or Rule 506 promulgated thereunder.
On August 27, 1999, the Registrant issued 1,200 shares of its Series D 6%
Convertible Preferred Stock to an accredited investor for total proceeds of
$1,200,000. The Series D Preferred Stock is convertible at any time, and
from time to time at a conversion price per share of Common Stock equal to
65% of the market price of the Common Stock as reported by the Nasdaq Stock
Market for the five days immediately preceding conversion, including
interest due and payable. The Registrant relied on the exemptions from
registration provided by Sections 4(2) and/or 4(6) of the Act and/or Rule
506 promulgated thereunder.
1
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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 thereunto duly authorized.
EQUITEX, INC.
(Registrant)
Dated: December 21, 2000 By: /s/ Henry Fong
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Henry Fong
President, Treasurer and Chief
Financial Officer
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