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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
AUGUST 22, 1995
[LOGO]
PERSONAL COMPUTER PRODUCTS, INC.
(Exact name of small business issuer as specified in its charter)
DELAWARE 0-12641 33-0021693
(State or other jurisdiction of (Commission file No.) (IRS Employer ID No.)
incorporation or organization)
10865 RANCHO BERNARDO ROAD
SAN DIEGO, CALIFORNIA 92127
(Address of principal executive offices)
Issuer's Telephone Number, Including Area Code: (619) 485-8411
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ITEM 5. OTHER EVENTS
A. PRESS RELEASE
The following press release was issued on August 18, 1995:
Personal Computer Products, Inc. common stock will continue to be
listed on The Nasdaq SmallCap Market via an exception from the Minimum
Bid Price requirement.
While Personal Computer Products, Inc. failed to meet this
requirement as of August 17, 1995, the company was granted a temporary
exception from this standard subject to Personal Computer Products,
Inc. meeting certain conditions. The company believes that it can
meet these conditions however, there can be no assurance that it will
do so. If at some future date the company's securities should cease
to be listed on the Nasdaq SmallCap Market, they may continue to be
listed in the OTC Bulletin Board. For the duration of the exception,
the company's Nasdaq symbol will be PCPIC.
B. INTRODUCTION TO BALANCE SHEET
The following unaudited balance sheet as of June 30, 1995, is presented to
demonstrate that Personal Computer Products, Inc. is in compliance with The
Nasdaq SmallCap Market listing requirements pursuant to NASD By-Laws.
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PERSONAL COMPUTER PRODUCTS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
(unaudited)
JUNE 30, 1995
<TABLE>
<CAPTION>
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ASSETS
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Current assets:
<S> <C>
Cash $ 322,000
Accounts receivable, net 1,237,000
Inventories 545,000
Other current assets 267,000
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Total current assets 2,371,000
Capitalized software, net 1,193,000
Prepaid licenses and royalties, net 637,000
Property and equipment, net 146,000
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$ 4,347,000
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LIABILITIES AND SHAREHOLDERS' EQUITY
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Current liabilities:
Accounts payable $ 1,847,000
Accrued expenses 229,000
Deferred revenue 6,000
Notes payable 1,019,000
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Total current liabilities 3,101,000
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Shareholders' equity:
5% convertible preferred stock
$1,000 par value, 7,500 shares
authorized, 2,318 issued and
outstanding 2,318,000
5% series B convertible preferred
stock $1,000 par value, 117 shares
authorized, 116.2 issued and
outstanding 1,162,000
Preferred stock
$1,000 par value, 2,383
authorized, no shares issued and
outstanding
Common stock
$.005 par value, 50,000,000 shares
authorized, 17,428,934 shares
issued and outstanding 87,000
Paid-in capital 18,019,000
Accumulated deficit (20,340,000)
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Total shareholders' equity 1,246,000
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$ 4,347,000
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- -------------------------------------------------------
</TABLE>
See accompanying note to consolidated balance sheet.
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PERSONAL COMPUTER PRODUCTS, INC. AND SUBSIDIARIES
NOTE TO CONSOLIDATED BALANCE SHEET
JUNE 30, 1995
The accompanying consolidated condensed balance sheet as of June 30, 1995 of
Personal Computer Products, Inc. and Subsidiaries has not been audited. The
balance sheet contains all adjustments which are, in the opinion of management,
necessary for a fair presentation of the financial position as of June 30, 1995.
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SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant has
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.
PERSONAL COMPUTER PRODUCTS, INC.
BY: RALPH R. BARRY
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DATE: August 22, 1995 Ralph R. Barry
Controller and Chief Accounting Officer
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