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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
October 27, 1995
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GREENTREE SOFTWARE, INC
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(Exact Name of Registrant as Specified in Charter)
NEW YORK
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(State or Other Jurisdiction of Incorporation)
0-11791 13-2897997
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(Commission File Number) (IRS Employer
Identification No.)
2801 Fruitville Road, Suite 180, Sarasota, FL 34237
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code:
(941) 954-2210
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ITEM 5. OTHER EVENTS.
On October 27, 1995 the Registrant sold 1,344,216 shares of Common Stock
to one investor and received proceeds of $537,686. The Registrant is
continuing its efforts to sell up to an additional 6,155,784 shares at $.40
in a private placement.
As previously reported, the Registrant, which is not in full compliance
with all requirements of the National Association of Securities Dealers, Inc.
(the NASD) for continued listing of the Common Stock in the NASDAQ System,
has been granted an exception to these requirements through November 30,
1995. If the Registrant does not complete the private placement by November
30, 1995, or should the Registrant otherwise not be in compliance with the
NASD maintenance criteria, the Common Stock would be subject to deletion from
the NASDAQ System.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(b) PROFORMA FINANCIAL INFORMATION
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GREENTREE SOFTWARE, INC.
By: /s/ Jeffrey Pinkerton
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Name: Jeffrey Pinkerton
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Title: Vice President
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Dated: November 10, 1995
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ITEM 7. FINANCIAL STATEMENT AND EXHIBITS
(b) PROFORMA FINANCIAL INFORMATION
GREENTREE SOFTWARE, INC.
PROFORMA BALANCE SHEETS
(Unaudited)
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August 31, 1995
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PRO
ACTUAL FORMA (1)
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ASSETS
CURRENT ASSETS:
Cash $ 32,524 $ 570,210
Certificates of deposit -- --
Accounts receivable, net 77,764 77,764
Inventory 13,215 13,215
Prepaid expenses 15,755 15,755
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Total Current Assets 139,258 676,944
PROPERTY AND EQUIPMENT:
Leasehold improvements 33,205 33,205
Furniture, fixtures, and equipment 449,494 449,494
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482,699 482,699
Less: Accumulated depreciation 286,853 286,853
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195,846 195,846
OTHER ASSETS
Customer list (net of allowance) 56,005 56,005
Deferred software development costs, net 534,674 534,674
Security deposits 32,055 32,055
Other 70,672 70,672
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693,406 693,406
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TOTAL ASSETS $ 1,028,510 $ 1,566,196
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LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 362,435 $ 362,435
Notes payable -- --
Accrued expenses 481,682 513,943
Deferred income 169,567 169,567
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Total Current Liabilities 1,013,684 1,045,945
TOTAL LIABILITIES 1,013,684 1,045,945
STOCKHOLDERS' EQUITY:
Common Stock, $.04 par value, authorized 190,019 243,788
15,000,000 shares issued 4,750,474 and
6,094,690, and, outstanding 4,721,790 and
6,066,006, respectively
Additional paid-in capital 11,447,237 11,898,893
Accumulated deficit (11,533,398) (11,533,398)
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103,858 609,283
Less: 28,684 treasury stock, at cost (89,032) (89,032)
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14,826 520,251
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TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 1,028,510 $ 1,566,196
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NOTE (1): The Proforma Balance Sheet reflects the sale of common stock reported
in this filing as if the transaction had occurred on August 31, 1995
