SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-QSB
[x] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934.
For the quarterly period ended July 31, 1997
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
ACT OF 1934.
For the transition period from________________to________________
Commission file number 2-86360
INFORMEDICS, INC.
(Exact name of small business issuer as specified in its charter)
Oregon 93-0750571
(State of incorporation) (I.R.S. Employer Identification No.)
4000 Kruse Way Place, Bldg 3, Suite
300, Lake Oswego, OR 97035
--------------------------
(Address of principal executive offices)
Issuer's telephone number: (503) 697-3000
Check whether the issuer (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 issuer was required to file such
reports), and (2) has been subject to such filing requirements for the past 90
days. Yes X No
Number of shares of Informedics, Inc. $.01 par value common stock outstanding as
of August 29, 1997: 2,650,307.
<PAGE>
INFORMEDICS, INC.
Part I - Financial Information
The information included herein is unaudited. However, such
information reflects all adjustments (consisting solely of normal, recurring
adjustments) which are, in the opinion of management, necessary for a fair
presentation of the results of operations for the interim periods. The interim
financial information and notes thereto should be read in conjunction with the
Company's latest annual report on Form 10-KSB. The results of operations for
the nine months ended July 31, 1997 are not necessarily indicative of results
to be expected for the entire year.
<PAGE>
INFORMEDICS, INC.
STATEMENTS OF OPERATIONS
<TABLE>
<CAPTION>
Three Months Ended Nine Months Ended
July 31, July 31,
----------------------------------------- ---------------------------------------
1997 1996 1997 1996
------------------ ------------------- ------------------- -----------------
<S> <C> <C> <C> <C>
REVENUE:
Product Sales $ 99,707 $ 356,587 $ 523,717 $ 1,173,945
Customer Service and Support 622,438 908,365 1,959,358 2,659,892
------------------ ------------------- ------------------- -----------------
Total Revenue 722,145 1,264,952 2,483,075 3,833,837
------------------ ------------------- ------------------ -----------------
COSTS AND EXPENSES:
Cost of Products Sold 44,644 171,323 98,305 538,563
Cost of Customer Service and Support
447,932 696,402 1,420,933 2,190,275
Selling & Administrative Expenses 434,087 416,793 1,440,995 1,548,580
Depreciation & Amortization 99,095 123,375 301,292 338,733
------------------ ------------------- ------------------ -----------------
Total Costs and Expenses 1,025,758 1,407,893 3,261,525 4,616,151
------------------ ------------------- ------------------ -----------------
Operating Loss (303,613) (142,941) (778,450) (782,314)
------------------ ------------------- ------------------ -----------------
OTHER INCOME (EXPENSE):
Interest Expense (237) ---- (4,759) (7)
Interest Income 7,219 2,987 26,918 11,652
Other Income 169,777 (186) 179,876 (71)
------------------ ------------------- ------------------ -----------------
Total Other Income 176,759 2,801 202,035 11,574
------------------ ------------------- ------------------ -----------------
LOSS BEFORE INCOME TAXES (126,854) (140,140) (576,415) (770,740)
INCOME TAX PROVISION 688,025 (52,178) 688,025 (292,893)
(BENEFIT)
------------------ ------------------- ------------------ -----------------
NET LOSS $ (814,879) $ (87,962) $ (1,264,440) $ (477,847)
================== =================== ================== =================
Weighted Average Number of Common
Shares Outstanding and Common Stock
Equivalents Outstanding
2,650,307 2,646,381 2,650,307 2,644,995
================== =================== ================== =================
LOSS PER SHARE $ (0.31) $ (0.03) $ (0.48) $ (0.18)
================== =================== ================== =================
See Notes to Financial Statements.
</TABLE>
<PAGE>
INFORMEDICS, INC.
BALANCE SHEETS
<TABLE>
<CAPTION>
July 31, October 31,
ASSETS 1997 1996
------------------- -------------------
<S> <C> <C>
CURRENT ASSETS:
Cash $ 259,154 $ 323,217
Accounts Receivable, less allowance
for doubtful accounts of $ 22,727 in
1997 and $ 28,439 in 1996 386,261 681,303
Inventories 20,021 23,833
Prepaid Expenses and Other Current Assets 45,358 36,150
Deferred Income Taxes 101,271 182,483
Current Portion of Long-Term 11,928 11,928
Receivable
Current Portion of Notes Receivable --- 54,095
------------------- -------------------
Total Current Assets 823,993 1,313,009
------------------- -------------------
FIXED ASSETS:
Furniture and Fixtures 134,282 134,282
Machinery and Equipment 610,273 583,961
Automobiles --- 29,138
Leasehold Improvements 26,738 20,442
Other Fixed Assets 142,545 136,805
------------------- -------------------
913,838 904,628
Less accumulated depreciation and amortization 760,218 672,300
------------------- -------------------
Total Fixed Assets 153,620 232,328
------------------- -------------------
OTHER ASSETS:
Long-Term Account Receivable 33,796 42,742
Notes Receivable --- 305,102
Software Development Costs,
less accumulated amortization of $ 724,445 in
1997 and $ 542,884 in 1996 210,738 305,415
Covenants Not to Compete,
less accumulated amortization of $ 491,274 in 1997
and $ 479,698 in 1996 2,772 14,348
Deferred Income Taxes 6,247 613,060
Other 39,799 41,816
------------------- -------------------
Total Other Assets 293,352 1,322,483
------------------- -------------------
TOTAL ASSETS $ 1,270,965 $ 2,867,820
=================== ===================
See Notes to Financial Statements
</TABLE>
<PAGE>
INFORMEDICS, INC.
BALANCE SHEETS
<TABLE>
<CAPTION>
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) July 31, October 31,
1997 1996
------------------ ------------------
<S> <C> <C>
CURRENT LIABILITIES:
Accounts Payable and Accrued Expenses:
Trade Accounts $ 72,499 $ 115,543
Customer Deposits 9,430 4,120
Accrued Wages, Payroll Taxes and Employee
Benefits 136,341 175,285
Other Accrued Liabilities 8,705 767
Revolving Line of Credit (Note 2) --- 125,000
Deferred Revenue 1,252,787 1,274,687
Current Portion of Deferred Rent 13,033 13,033
Current Portion of Deferred Gain on Sale of Assets --- 19,615
------------------ ------------------
Total Current Liabilities 1,492,795 1,728,050
LONG-TERM OBLIGATIONS:
Deferred Rent 20,636 30,411
Deferred Gain on Sale of Assets --- 87,375
------------------ ------------------
Total Current Liabilities and
Long-Term Obligations 1,513,431 1,845,836
------------------ ------------------
STOCKHOLDERS' EQUITY (DEFICIT):
Preferred Stock, $ .01 par value:
authorized 5,000,000 shares;
no shares outstanding --- ----
Common Stock, $.01 par value:
authorized 15,000,000 shares;
shares outstanding: 2,650,307 in 1997 and 1996 26,503 26,503
Capital in Excess of Par Value 1,914,213 1,914,213
Note Receivable from Stockholder (22,000) (22,000)
Accumulated Deficit (2,161,182) (896,732)
------------------ ------------------
Total Stockholders' Equity (Deficit) (242,466) 1,021,984
------------------ ------------------
TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY (DEFICIT) $ 1,270,965 $ 2,867,820
================== ==================
See Notes to Financial Statements.
</TABLE>
<PAGE>
INFORMEDICS, INC.
STATEMENTS OF CASH FLOWS
<TABLE>
<CAPTION>
Nine Months Ended July 31,
-----------------------------------------
1997 1996
-----------------------------------------
CASH FLOWS FROM OPERATING ACTIVITIES:
<S> <C> <C>
Net loss $ (1,264,450) $ (477,847)
ADJUSTMENTS TO RECONCILE NET LOSS TO NET
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:
Depreciation and Amortization 301,292 338,733
Provision for losses on (write off of) accounts receivable (5,712) (18,899)
Deferred Income Taxes 606,813 (294,219)
Tax benefits from stock options exercised --- 1,316
Gain on Sale of Assets (106,990) ---
Changes in Assets and Liabilities:
Accounts Receivable 309,700 102,888
Income taxes receivable 81,212 29,077
Inventories 3,812 44,962
Prepaid Expenses and Other Current Assets (9,208) 55,634
Accounts Payable and Accrued Expenses (68,740) (80,043)
Notes Receivable 359,197 ---
Deferred Revenue (21,900) 245,234
Deferred Rent (9,775) (9,775)
------------------ ------------------
Net cash provided by (used in) operating activities 175,251 (62,939)
------------------ ------------------
INVESTING ACTIVITIES:
Property additions (40,019) (69,921)
Capitalized software development costs (86,884) (159,990)
Other 12,589 3,285
------------------ ------------------
Net cash used in investing activities (114,314) (226,626)
------------------ ------------------
FINANCING ACTIVITIES:
Decrease in revolving line of credit (125,000) 100,000
Proceeds from issuance of common stock --- 4,674
------------------ ------------------
Net cash provided by (used in) financing activities (125,000) 104,674
------------------ ------------------
NET DECREASE IN CASH (64,063) (184,891)
CASH AT BEGINNING OF PERIOD 323,217 534,260
------------------ ------------------
CASH AT END OF PERIOD $ 259,154 $ 349,369
================== ==================
</TABLE>
<PAGE>
INFORMEDICS, INC.
STATEMENTS OF CASH FLOWS
<TABLE>
<CAPTION>
Nine Months Ended July 31,
-------------------------------------------
1997 1996
-------------------------------------------
<S> <C> <C>
Supplemental Disclosures of Cash Flow
Information:
Cash paid for:
Interest $ 4,759 $ 7
Income Taxes Received ---- (29,077)
</TABLE>
See Notes to Financial Statements.
<PAGE>
INFORMEDICS, INC.
NOTES TO FINANCIAL STATEMENTS
1. SIGNIFICANT ACCOUNTING POLICIES
Industry Segment
----------------
The Company derives its revenue solely from the sales and servicing of
microcomputer software and related hardware.
Inventories
-----------
Inventories are stated at the lower of cost or market. Specific
identification is used to determine the costs of hardware and software
inventory.
Fixed Assets
------------
Fixed Assets are stated at cost, less accumulated depreciation and
amortization. The costs of fixed assets are depreciated over the
estimated useful lives (two to five years) of the assets using the
straight-line method. Leasehold improvements are amortized over the
term of the lease (five years).
Customer Service and Support Revenue
------------------------------------
Customer service and support revenue represents revenue earned from
hardware and software maintenance contracts, training, installation of
new systems, and general software support and programming services
provided to customers. Under renewable maintenance contracts, the
Company provides, for a term of generally not more than one year,
essentially all maintenance and repairs resulting from the normal and
intended use of its products. Deferred revenue on maintenance
contracts is amortized by the straight-line method over the life of
the contracts.
Revenue Recognition
-------------------
Revenue from sales of software and hardware is generally recorded when
the product is shipped. Revenue from custom software products, which
are marketed to customers primarily under perpetual license
arrangements, is recorded at the time the product is installed and
accepted by the customer. Revenue from services other than maintenance
contracts is recognized as performed.
Income Taxes
------------
Income taxes are accounted for using the methodology established by
Statement of Financial Accounting Standards (SFAS) No.109, "Accounting
for Income Taxes", which requires an asset and a liability approach to
financial accounting and reporting for income taxes. Deferred income
tax assets and liabilities are computed for differences between the
financial statement and tax bases of assets and liabilities that will
result in taxable or deductible amounts in the future. A valuation
allowance is established when necessary to reduce deferred tax assets
to amounts expected to be realized, based on enacted tax laws and
rates applicable to the periods in which the differences are expected
to affect taxable income. Income tax expense or benefit is the tax
payable or refundable for the period, plus or minus the change during
the period in deferred tax assets and liabilities.
<PAGE>
INFORMEDICS, INC.
NOTES TO FINANCIAL STATEMENTS
Software Development Costs
--------------------------
Certain software development costs are being capitalized and amortized
over the estimated economic life of the software, on a straight-line
method, commencing when each product or enhancement is available for
general release. Amortization using the straight-line method for the
nine-month periods ended July 31, 1997 and 1996 was $ 181,561 and $
141,213, respectively.
Covenants Not to Compete
------------------------
Covenants not to compete are stated at the estimated value of the
consideration given for the covenants (including the present value of
any future payments to be made under each agreement), less accumulated
amortization. The costs of the covenants are being amortized over four
or seven years, using the straight-line method. Amortization for the
nine-month periods ended July 31, 1997 and 1996 was $ 11,576 and $
57,874, respectively.
Loss Per Share
--------------
Loss per share is computed on the basis of weighted average number of
shares outstanding plus common stock equivalents which would arise
from the exercise of stock options and warrants. Common stock
equivalents are excluded from the calculation of net loss per share
for the nine months ended July 31, 1997 and 1996, as they are
antidilutive.
Cash and Cash Equivalents
-------------------------
The Company considers cash on hand, deposits in bank and highly liquid
debt instruments purchased with original maturity dates of three
months or less, as cash.
Accounting Changes
------------------
In October 1995, the Financial Accounting Standards Board (the "FASB")
issued Statement of Financial Accounting Standards ("SFAS") No. 123,
"Accounting for Stock-Based Compensation." This statement establishes
an alternative method of accounting that requires recognizing as
expense the fair value of employee stock options and other stock-based
awards at the grant date. SFAS No. 123 also allows the continuation of
the current accounting treatment under which the Company does not
recognize compensation expense for the stock options it awards to
employees. Since the Company is electing to retain its current method,
it will be required to present pro forma disclosures in its 1997
annual financial statements as if the fair value based method had been
applied.
In February 1997, the FASB issued SFAS No. 128, "Earnings per Share."
SFAS 128, requires all companies whose capital structures include
convertible securities and options to make a dual presentation of
basic and diluted earnings per share (EPS) on the face of the income
statement and requires additional disclosures regarding the
computation of EPS. The new standard becomes effective for interim
statements issued after December 15, 1997. The effect on earnings per
share for all periods reported is immaterial.
<PAGE>
In June 1997, the FASB issued SFAS No. 130, "Reporting Comprehensive
Income." SFAS No. 130 establishes requirements for disclosure of
comprehensive income and becomes effective for the Company's fiscal
year ending October 31, 1999. Reclassification of earlier financial
statements for comparative purposes is required. The impact on the
Company's financial statements is not expected to be material.
In June 1997, the FASB issued SFAS No. 131, "Disclosures about
Segments of an Enterprise and Related Information." SFAS No. 131
establishes standards for disclosure about operating segments in
annual financial statements and selected information in interim
financial reports. It also establishes standards for related
disclosures about products and services, geographic areas, and major
customers. This statement supersedes SFAS No. 14, "Financial Reporting
for Segments of a Business Enterprise." The new standard becomes
effective for the Company's fiscal year ending October 31, 1999, and
requires that comparative information from earlier years be restated
to conform to the requirements of this standard.
Reclassifications
-----------------
Certain prior year amounts have been reclassified to conform to the
current year presentation. These reclassifications have no effect on
net income.
2. CREDIT AGREEMENTS
In April 1997 the Company renewed its revolving line of credit
agreement with United States National Bank of Oregon ("USNB") in the
amount of $700,000. The Company was not able to maintain its Debt to
Tangible Net Worth covenant, and as a result, the borrowing limit was
reduced to $200,000 in August 1997. USNB agreed to waive this covenant
through October 31, 1997. All assets of the Company are pledged as
security for the loan. The agreement requires the Company to make
monthly interest-only payments on all amounts outstanding under the
agreement. The interest rate is 2% above USNB's prime interest rate.
There was no amount outstanding under this agreement as of July 31,
1997. The agreement expires December 31, 1997.
3. SUBSEQUENT EVENTS
On July 29, 1997, the Company signed a letter of intent to merge into
Mediware Systems, Inc. of Melville, NY. As described in the letter of
intent, the proposed merger terms provide for the Company's
stockholders to receive one share of Mediware stock for every four
shares of Company stock. The merger is subject to completion of due
diligence, execution of a definitive agreement, and approval by the
Company's stockholders.
The Company's management recently determined that the benefit of the
Company's net operating loss carryforwards was not likely to be
realized. Accordingly, during the current year the Company increased
the valuation reserve to fully reserve the deferred tax asset relating
to the net operating loss carryforwards.
<PAGE>
INFORMEDICS, INC.
MANAGEMENT'S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS
THE FOLLOWING DISCUSSION INCLUDES CERTAIN FORWARD-LOOKING STATEMENTS. THOSE
STATEMENTS INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES, WHICH COULD CAUSE ACTUAL
RESULTS TO DIFFER MATERIALLY FROM THE EXPECTATION STATED, INCLUDING THE
FOLLOWING: SLOWER THAN EXPECTED SALES OF INFORMEDICS' PRODUCTS, DETERIORATION OF
BUSINESS CONDITIONS GENERALLY OR SPECIFICALLY IN THE HEALTH-CARE INDUSTRY,
REGULATORY CHANGES INVOLVING HEALTH CARE, COMPETITIVE FACTORS, PRICE PRESSURES
AND HIGHER THAN EXPECTED TURNOVER IN KEY PERSONNEL.
Highlights
- ----------
On July 29, 1997, the Company signed a letter of intent to merge into Mediware
Information Systems, Inc. ("Mediware") of Melville, NY. As described in the
letter of intent, the proposed merger terms provide for the Company's
stockholders to receive one share of Mediware stock for every four shares of
Company stock. The merger is subject to completion of due diligence, execution
of a definitive agreement, and approval by the Company's stockholders.
Management believes that merging the two companies will benefit both
stockholders and customers by combining products, customer bases and resources.
On October 31, 1996, the Company sold certain assets of its ClinicManager
product line to Adaptive Health Systems of Washington, Inc. ("Adaptive"). In
April 1997 certain conditions of the sale were satisfied, resulting in an
acceleration of the note receivable payments due from Adaptive. On May 8, 1997,
the Company received $406,500 from Adaptive to pay off the note. The Company
recognized a gain of approximately $166,000 during its third quarter ended July
31, 1997 relating to the funds received from Adaptive in May 1997.
The sale of the ClinicManager product line and other cost cutting measures
resulted in improved operating results, as the Company reduced its loss before
income taxes for the third quarter and the first nine months of 1997, when
compared to the same periods in 1996. The loss before income taxes decreased
from $140,140 in third quarter 1996 to $126,854 in third quarter 1997 and from
$770,740 for the first nine months of 1996 to $576,415 for the first nine months
of 1997.
The elimination of the ClinicManager product line from the Company's revenue
base resulted in a decrease in both product sales and customer service and
support revenue for the third quarter and the first nine months of 1997. Total
revenue decreased from $1,264,952 and $3,833,837 for the third quarter and first
nine months of 1996, respectively, to $722,145 and $2,483,075 for the third
quarter and first nine months of 1997, respectively.
The Company's management recently determined that the benefit of the Company's
net operating loss carryforwards was not likely to be realized. Accordingly,
during the current year the Company increased the valuation reserve to fully
reserve the deferred tax asset relating to the net operating loss carryforwards.
The Company therefore wrote down the deferred asset by $688,025 during the third
quarter of 1997 which resulted in an after tax loss for the quarter of $814,879
and a loss of $1,264,440 for the first nine months of 1997.
Results of Operations - Material Changes
- ----------------------------------------
The decrease in product sales of $256,880 for third quarter 1997 as compared to
third quarter 1996 resulted from the loss of revenue from the ClinicManager
product line, reduced sales of primary product Lifeline, and a decrease in
clinic license fees for the Intramed.net product. The decrease in product sales
of $650,228 for the first nine months of 1997 resulted from the loss of revenue
from the ClinicManager product line and a decrease in laboratory system product
sales during 1997. In the second quarter of 1997, the Company hired additional
salespersons to increase product sales in future periods. Management believes
that products sales for 1997 will continue to lag 1996 results until the new
sales of its IntraMed.net product line exceed previous ClinicManager sales
levels.
<PAGE>
The decrease in customer service and support revenue of $285,927 and $700,534
for the third quarter and first nine months of 1997, respectively, when compared
to the same periods in 1996, resulted from a loss of revenue from the
ClinicManager product line, a decrease in the number of customers who purchased
the Company's hardware support services and a reduction in revenue from not
charging laboratory systems' customers a regulatory fee in 1997 as it did in
1996. In the second quarter of 1997, the Company began marketing a new technical
support service to help replace the revenue lost from the hardware support
services. Management believes that customer service and support revenue for the
remainder of 1997 will be less than the comparable period in 1996.
A decrease in hardware sales of $146,320 and $514,059 for the third quarter and
first nine months of 1997, respectively, resulted in a decrease in the cost of
products sold. The decrease in hardware sales resulted from a loss of revenue
from the ClinicManager product line, a decrease in the number of laboratory
systems sold, and a decrease in hardware sales related to the Company's lab
order entry product line.
The decrease of $248,470 and $769,342 in cost of customer service and support
for the third quarter and first nine months of 1997, respectively, resulted from
a reduction in staff and other costs as a result of the sale of the
ClinicManager product line. Management anticipates that cost of customer service
and support for the remainder of 1997 will be less than the comparable period in
1996.
The increase of $17,294 in selling and administration expenses for the third
quarter of 1997 compared to the third quarter of 1996, resulted from increases
in the sales and marketing costs offset in part by a decrease in rent expense.
The increase in sales and marketing costs resulted from hiring additional
salespersons, placing more advertisements and incurring additional travel
related costs to market the Company's IntraMed.net and LifeLine product lines.
However, management anticipates that selling and administration expenses will be
lower during the remainder of 1997 than the comparable period in 1996, as the
Company continues its cost cutting measures.
Liquidity - Capital Resources
- -----------------------------
The Company's cash position decreased from $323,217 on October 31, 1996 to
$259,154 on July 31, 1997, as the Company added $175,251 of cash as a result of
operating activities, and used $114,314 for investing activities and $125,000
for financing activities. As discussed earlier, the Company received $406,500
from Adaptive on May 8, 1997 in full payment of the Company's note receivable.
Based upon the anticipation of higher product sales and reduced operating
expenses, management believes that the Company's current cash position and
available funds under its revolving line of credit agreement will be sufficient
to fund its operating and investment activities for the remainder of fiscal
1997.
Continuing losses resulted in a negative working capital of $668,802 on July 31,
1997 as compared to a negative working capital of $415,041 on October 31, 1996.
Excluding the deferred revenue liability, which is a liability for future
services, the Company's working capital on July 31, 1997 was $583,985, compared
to $859,846 on October 31, 1996.
Capital expenditures for property additions were $40,019 for the first nine
months of 1997 compared to $69,921 for the first nine months of 1996. The
decrease resulted from management's decision to reduce capital expenditures in
1997. Management anticipates that capital expenditures for property additions
for the remainder of 1997 will continue to be less than 1996 amounts.
Capitalized software development costs amounted to $86,884 and $159,990 for the
first nine months of 1997 and 1996, respectively. The decrease resulted from the
reduction of the software development costs associated with the ClinicManager
product. Management anticipates that capitalized software development cost for
the remainder of 1997 will continue to be less than 1996 amounts.
In April 1997 the Company renewed its $700,000 uncommitted revolving line of
credit with the Company's bank. There was no amount owing under this agreement
as of July 31, 1997. The Company was not able to maintain the required covenant
ratios and as a result the Company's bank reduced the credit line to $200,000.
The Company's bank agreed to waive this covenant through October 31, 1997. All
of the assets of the Company are pledged as security for the line of credit. The
credit line agreement expires December 31, 1997.
<PAGE>
INFORMEDICS, INC.
Part II - Other Information
Item 6. Exhibits and Reports on Form 8-K
(a) Exhibit.
27 Financial Data Schedule
(b) Reports on Form 8-K
None
<PAGE>
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 thereunto duly authorized.
INFORMEDICS, INC.
(Registrant)
Date September 12, 1997 By /s/ John Tortorici
------------------- -----------------------------------
John Tortorici, Chairman, President,
Chief Executive Officer and
Chief Financial Officer
<PAGE>
FORM 10-QSB
Exhibit Index
Exhibit
27 Financial Data Schedule
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM INFORMEDICS,
INC.'S FINANCIAL STATEMENTS CONTAINED IN ITS QUARTERLY REPORT ON FORM 10-QSB FOR
THE PERIOD ENDED JULY 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> JUL-31-1997
<CASH> 259,154
<SECURITIES> 0
<RECEIVABLES> 408,988
<ALLOWANCES> 22,727
<INVENTORY> 20,021
<CURRENT-ASSETS> 823,993
<PP&E> 913,838
<DEPRECIATION> 760,218
<TOTAL-ASSETS> 1,270,965
<CURRENT-LIABILITIES> 1,492,795
<BONDS> 0
0
0
<COMMON> 26,503
<OTHER-SE> (268,969)
<TOTAL-LIABILITY-AND-EQUITY> 1,270,965
<SALES> 523,717
<TOTAL-REVENUES> 2,483,075
<CGS> 98,305
<TOTAL-COSTS> 1,519,238
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 4,759
<INCOME-PRETAX> (576,415)
<INCOME-TAX> 688,025
<INCOME-CONTINUING> (1,264,440)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (1,264,440)
<EPS-PRIMARY> (0.48)
<EPS-DILUTED> (0.48)
</TABLE>
