SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 10-Q
QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For Quarter Ended June 30, 1998 Commission File No. 2-82655
INTERWEST MEDICAL CORPORATION
(Exact name of registrant as specified in its charter)
Oklahoma 75-1864474
(State or other jurisdiction (I.R.S. Employer Identification No.)
of incorporation or organization)
Arlington Heights Professional Office Building
3221 Hulen Street, Suite C, Fort Worth, TX 76107-6193
(Address of principal executive offices, zip code)
Registrant's telephone number, including area code: (817)731-2743
Not Applicable
(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 INVOLVED 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.
(Not Applicable)
Yes X No
(APPLICABLE TO CORPORATE ISSUERS)
Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the close of the period covered by
this report. 16,541,661 shares of Common Stock, $0.001 Par
Value.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its half
by the undersigned thereunto duly authorized.
INTERWEST MEDICAL CORPORATION
By:
Arch B. Gilbert, President,
Chief Executive Officer,
Chief Financial Officer, and
Chief Accounting Officer
Date: August 14, 1998
<PAGE>
[ARTICLE] 5
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1998
[CASH] 544,865
[SECURITIES] 2,825,164
[RECEIVABLES] 2,498,327
[ALLOWANCES] 0
[INVENTORY] 0
[CURRENT-ASSETS] 5,906,424
[PP&E] 5,550,141
[DEPRECIATION] 1,926,755
<TOTAL ASSETS> 9,978,882
<CURRENT LIABILITIES> 1,885,529
[BONDS] 0
[COMMON] 20,000
[PREFERRED-MANDATORY] 0
[PREFERRED] 0
[OTHER-SE] 1,712,689
[TOTAL-LIABILITY-AND-EQUITY] 9,978,882
[SALES] 2,685,805
[TOTAL-REVENUES] 2,718,098
[CGS] 0
[TOTAL-COSTS] 2,457,842
<OTHER EXPENSES> 0
[LOSS-PROVISION] 0
[INTEREST-EXPENSE] 88,734
[INCOME-PRETAX] 299,295
[INCOME-TAX] 0
[INCOME-CONTINUING] 299,295
[DISCONTINUED] 0
[EXTRAORDINARY] 0
[CHANGES] 0
[NET-INCOME] 299,295
[EPS-PRIMARY] .02
[EPS-DILUTED] .02
</TABLE>
