SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) June 29, 1995
HEALTHWATCH, INC.
(Exact name of registrant as specified in its charter)
Minnesota
(State of other jurisdiction of incorporation)
0-11476 84-0916792
(Commission File Number) IRS Employer Identification Number)
2445 Cades Way, Vista, California 92083
(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code (619)598-4333
Item 5. Other Events.
On May 19, 1995, the Company commenced an offering of 1,400,000 Units of its
securities, each Unit consisting of four shares of Common Stock, par value $.01
per share, and two Redeemable Common Stock Purchase Warrants, each Warrant
entitling the holder to purchase one share of Common Stock at a price of $.75
per share. The offering price for the Units is $1.00 per Unit. The offering is
being made pursuant to a Registration Statement filed with the Securities and
Exchange Commission (Registration No. 33-88126). For the offering to be
effective, subscriptions must be received for a minimum of 750,000 Units. Prior
to the offering, the Company had obtained standby commitments to purchase up to
250,000 Units.
On June 29, 1995, the Company had subscriptions, including the standby
commitments, for 750,000 Units. The offering is continuing and is not expected
to be terminated until the full 1,400,000 Units are subscribed for or August 17,
1995, the expiration date for the offering.
The following table presents certain Balance Sheet data as of May 31, 1995,
adjusted to reflect the issuance of 750,000 Units.
Balance Sheet Data:
<TABLE>
<CAPTION>
May 31, 1995
Actual As Adjusted (1)
<S> <C> <C>
Current Assets $1,686,470 $2,244,479
Total Assets 3,346,187 3,904,196
Current Liabilities 1,313,638 1,313,638
Long-term Debt 580,000 580,000
Accumulated Deficit (9,637,299) (9,637,299)
Shareholders' Equity 1,452,549 2,010,558
</TABLE>
____________________
(1) Adjusted to reflect net proceeds from issuance of 750,000 Units at
$1.00 per Unit. At June 29, 1995, the Company had subscriptions for
750,000 Units, the minimum required for the offering to be effective. A
maximum of 1,400,000 Units may be sold pursuant to the offering, which
is being made by the Company on a best efforts basis.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on behalf of the undersigned
thereunto duly authorized.
HEALTHWATCH, INC.
Dated June 29, 1995 By: /s/ John D. Greenbaum
John D. Greenbaum
President
