SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A-1
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES AND EXCHANGE ACT OF 1934
For the fiscal year ended September 30, 1996
Commission file number: 1-9370
Biopharmaceutics, Inc.
(Exact name of Registrant as specified in its Charter)
Delaware 13-3186327
State of Corporation (I.R.S. Employer I.D. Number)
990 Station Road, Bellport, NY 11713
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (516) 286-5800
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
Title of Each Class Name of Each Exchange on Which Registered
Common Stock, $0.001 Par Value NASDAQ OTC Bulletin Board
Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the Registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes x No
----- -----
The aggregate market value of the voting stock owned by non-affiliates of
the Registrant on November 30, 1996 was $15,576,080. On such date, the mean
price at which the stock was sold was $0.50 per share.
The number of shares of Common Stock, $.001 Par Value, outstanding as of
November 30, 1996, was 40,457,350, exclusive of outstanding, unexercised
options.
DOCUMENTS INCORPORATED BY REFERENCE: NONE
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PART IV
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K
(A) Documents filed as part of this report:
(1) and (2) - See Index to Consolidated Financial Statements and
Schedules included herein.
(3) Exhibit - Exhibit 27 -- ART.5 FDS FOR 9/30/96 10-K
(B) Reports Filed on Form 8-K during the Fourth Quarter
8-K dated October 9, 1996, announcing the Joint Venture Agreement with
Advanced Biological Systems, Inc.
8-K dated December 12, 1996, announcing the appointment of Johathan
Rosen to its Board of Directors.
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SIGNATURE
Pursuant to the requirements of Section 13 of the Securities and Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
BIOPHARMACEUTICS, INC.
By: /s/ Edward Fine
--------------------
Edward Fine
President and
Chief Executive Officer
Bellport, N.Y.
May 5, 1997
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<ARTICLE> 5
<MULTIPLIER> 1
<S> <C> <C>
<PERIOD-TYPE> YEAR YEAR
<FISCAL-YEAR-END> SEP-30-1996 SEP-30-1995
<CASH> 44,775 86,664
<SECURITIES> 0 0
<RECEIVABLES> 737,457 268,957
<ALLOWANCES> 0 0
<INVENTORY> 538,359 493,671
<CURRENT-ASSETS> 1,457,430 877,245
<PP&E> 2,511,226 2,630,148
<DEPRECIATION> 2,177,573 2,186,881
<TOTAL-ASSETS> 5,816,688 1,420,932
<CURRENT-LIABILITIES> 2,397,915 2,507,861
<BONDS> 3,025,733 1,130,982
0 0
0 0
<COMMON> 393,040 (2,217,911)
<OTHER-SE> 0 0
<TOTAL-LIABILITY-AND-EQUITY> 5,816,688 1,420,932
<SALES> 3,725,221 1,532,649
<TOTAL-REVENUES> 3,725,221 1,532,649
<CGS> 3,141,054 2,303,224
<TOTAL-COSTS> 3,141,054 2,303,224
<OTHER-EXPENSES> 0 5,526,587
<LOSS-PROVISION> 18,697 (5,000)
<INTEREST-EXPENSE> 298,821 251,438
<INCOME-PRETAX> (799,466) (7,986,247)
<INCOME-TAX> 0 0
<INCOME-CONTINUING> (799,466) (7,986,247)
<DISCONTINUED> 773,659 (1,621,543)
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> (25,807) (9,607,790)
<EPS-PRIMARY> 0 (.42)
<EPS-DILUTED> 0 (.42)
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