SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Amendment No. 1
to
FORM 8-K/A
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 or 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 tables present certain financial data for the two and eleven
months ended May 31, 1995 and as of May 31, 1995, adjusted to reflect the
issuance of 750,000 Units.
Statement of Income Data:
Nine Months Ended Two Months Ended Eleven Months Ended
March 31, 1995 May 31, 1995 May 31, 1995
Product sales $ 2,953,238 $ 469,670 $ 3,422,908
Gross margin 843,851 132,753 976,604
Loss from
operations (1,271,156) (222,822) (1,493,978)
Net loss (1,284,795) (164,052) (1,448,847)
Balance Sheet Data:
May 31, 1995
Actual Adjustment (1) As Adjusted (1)
Current Assets $ 1,686,470 $558,009 $ 2,244,479
Total Assets 3,346,187 558,009 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 1,452,549 558,009 2,010,558
____________________
(1) Adjusted to reflect net proceeds ($558,009) 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 July 18, 1995 By: /s/ Annette D. Agner
Annette D. Agner
Controller
GP:205896 v1
