<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-QSB/A AMENDMENT NO. 1
(MARK ONE)
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 1996.
[_] 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: 0-12365
MEDICAL DEVICE TECHNOLOGIES, INC.
---------------------------------
(exact name of small business issuer as specified in charter)
Utah 58-1475517
- ------------------------------- ------------------------------------
(State or other jurisdiction of (IRS Employer Identification Number)
incorporation or organization)
9171 Towne Centre Drive - Suite 355 - San Diego, California - 92122
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(Address of principal executive offices)
(619) 455-7127
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(Issuer'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 (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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At May 3, 1996 there were 8,949,839 shares of the company's common stock issued
and outstanding. The aggregate market value of such shares (based on an average
of the bid and offered price of $0.90 of these shares as of May 3, 1996) held by
non-affiliates, was approximately $7,715,974.
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Subsequent to 1996, the Company currently plans to finance its long-term
operations and capital requirements with the profits and funds generated from
the sales of its products as well as through new private financings and public
offerings of debt and equity securities.
The long-term viability of the Company is dependent on its ability to
profitably develop and market its current products and to identify, develop and
profitably market additional products as well as to obtain the financing
necessary to fund this anticipated growth.
PART II - OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
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The Company has been involved in a legal dispute with Chandler Church &
Company ("Chandler Church"), which is more fully described under Legal
Proceedings in the Company's 1995 10-KSB, as amended. Chandler Church's
complaint was dismissed on April 9, 1996 by the Superior Court of San Diego
County, California. A default has been entered against Chandler Church on the
Company's cross-complaint against Chandler Church. Damages against Chandler
Church on the cross-complaint has not been assessed by the Court as of the date
of this filing. The Company believes that it has no liability under any of these
actions.
There are no other legal proceedings to which the Company is a party which
could have a material adverse effect on the Company.
ITEM 2. CHANGES IN SECURITIES
- ------------------------------
Not applicable.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
- ----------------------------------------
Not Applicable.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
- ------------------------------------------------------------
Not applicable.
ITEM 5. OTHER INFORMATION
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Not applicable.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
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Exhibit 27
2
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In accordance with Section 13 or 15(d) of the Exchange Act, the Registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
MEDICAL DEVICE TECHNOLOGIES, INC.
Dated: July 2, 1996 By: /s/ Edward C. Hall
----------------------------
Edward C. Hall
Chief Financial Officer and
Principal Accounting Officer
3
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM 10QSB
3/31/96 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1996
<PERIOD-END> MAR-31-1996
<CASH> 192,333
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 205,897
<CURRENT-ASSETS> 559,713
<PP&E> 214,698
<DEPRECIATION> 43,498
<TOTAL-ASSETS> 2,749,997
<CURRENT-LIABILITIES> 2,221,644
<BONDS> 210,830
0
618,750
<COMMON> 1,316,151
<OTHER-SE> (1,617,378)
<TOTAL-LIABILITY-AND-EQUITY> 2,749,997
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 1,268,951
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 516,333
<INCOME-PRETAX> (1,785,284)
<INCOME-TAX> 0
<INCOME-CONTINUING> (1,785,284)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (1,785,284)
<EPS-PRIMARY> (.21)
<EPS-DILUTED> 0
</TABLE>
