|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-QSB/A
AMENDMENT NO. 1
(Mark One)
[X] Quarterly report under Section 13 or 15(d) of the Securities Exchange Act of
1934
For the quarterly period ended February 28, 1999
[ ] Transition report under Section 13 or 15(d) of the Securities Exchange Act
of 1934
For the transition period from to
Commission file number 0-14401
SANDATA, INC.
(Name of Small Business Issuer in Its Charter)
Delaware 11-2841799
(State or Other Jurisdiction of (IRS Employer
Incorporation or Organization) Identification No.)
26 Harbor Park Drive, Port Washington, NY 11050
(Address of Principal Executive Offices) (Zip Code)
516-484-9060
(Issuer's Telephone Number, Including Area Code)
(Former Name, Former Address and Former Fiscal Year, if Changed
Since Last Report)
Check whether the issuer: (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 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
APPLICABLE ONLY TO REGISTRANTS INVOLVED IN BANKRUPTCY PROCEEDINGS
DURING THE PAST FIVE YEARS
Check whether the issuer has filed all documents and reports required
to be filed by Section 12, 13 or 15(d) of the Exchange Act after the
distribution of securities under a plan confirmed by a court.
Yes No
APPLICABLE ONLY TO CORPORATE ISSUERS
The number of shares outstanding of each of the issuer's classes of common
equity, as of December 31, 1997 was 1,559,955 shares. Transitional Small
Business Disclosure Format (check one):
Yes No X
<PAGE>
Sandata, Inc. and Subsidiaries
CONSOLIDATED CONDENSED BALANCE SHEETS
<TABLE>
<S>
<C> <C>
UNAUDITED AUDITED
February 28, May 31,
1999 1998
------------------- -----------
ASSETS:
CURRENT ASSETS
Cash and cash equivalents $ 277,925 $ 1,794,947
Accounts receivable, net of allowance for doubtful
accounts of $422,000 and $443,000 respectively 2,133,473 1,611,457
Receivables from affiliates 584,148 619,687
Inventories 38,373 27,003
Prepaid expenses and other current assets 380,448 140,873
-------------------- -----------------
TOTAL CURRENT ASSETS 3,414,367 4,193,967
FIXED ASSETS, NET 7,119,189 5,814,381
OTHER ASSETS
Notes receivable 174,365 100,000
Cash surrender value of officer's life insurance,
security deposits and other 764,708 525,281
-------------------- -----------------
TOTAL ASSETS $ 11,472,629 $ 10,633,629
==================== =================
See notes to consolidated condensed financial statements
</TABLE>
<PAGE>
<TABLE>
Sandata, Inc. and Subsidiaries
CONSOLIDATED CONDENSED BALANCE SHEETS
<S> <C> <C>
UNAUDITED AUDITED
February 28, May 31,
1999 1998
-------------------- -------------
LIABILITIES AND SHAREHOLDERS' EQUITY:
CURRENT LIABILITIES
Accounts payable and accrued expenses $ 1,736,226 $ 2,507,042
Current portion of long-term debt --- 22,296
Deferred/unearned revenue 35,623 23,410
Deferred income 267,523 186,358
-------------------- --------------------
TOTAL CURRENT LIABILITIES 2,039,372 2,739,106
LONG TERM DEBT 1,300,000 ---
DEFERRED INCOME 255,255 215,945
DEFERRED INCOME TAXES 382,000 382,000
-------------------- --------------------
TOTAL LIABILITIES 3,976,629 3,337,051
SHAREHOLDERS' EQUITY
Common stock 2,481 1,560
Additional paid in capital 5,772,079 4,173,091
Retained earnings 3,241,101 3,121,927
Notes receivable-officers (1,519,659) ---
-------------------- --------------------
TOTAL SHAREHOLDERS' EQUITY 7,496,002 7,296,578
-------------------- --------------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 11,472,629 $ 10,633,629
==================== ====================
See notes to consolidated condensed financial statements
</TABLE>
<PAGE>
<TABLE>
Sandata , Inc. and Subsididaries
UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
<S>
<C> <C>
NINE MONTHS ENDED
FEBRUARY 28,
1999 1998
Cash flows from operating activities: ---- ----
Net earnings $ 119,174 $ 225,861
Adjustments to reconcile net earnings to net cash
provided by (used in) operating activities:
Depreciation and amortization 1,460,438 1,024,022
(Gain) on disposal of fixed assets (269,948) (184,642)
(Decrease) in allowance for doubtful accounts receivable (21,258) (94,600)
(Increase) in deferred income 120,475 (20,592)
(Increase) in deferred revenue 12,213 14,272
(Increase) in operating assets (977,902) (535,989)
(Decrease) in operating liabilities (779,767) (1,351)
--------------- ---------------
Net cash provided by operating activities (336,575) 426,981
--------------- ---------------
Cash flows from investing activities:
Collection of note receivable - officer -- 102,867
Purchases of fixed assets (3,595,298) (1,75,918)
Decreases in receivables from affiliates 35,538 345,310
Collections of note receivable-former affiliates -- 11,363
Proceeds from sale/leaseback transaction 1,100,000 700,000
--------------- ---------------
Net cash (used in) investing activities (2,459,760) (600,378)
--------------- ---------------
Cash flows from financing activities:
Proceeds from stock transactions 1,609 1,575,683
Principal payments on term loan (22,296) (212,803)
Proceeds from line of credit 3,150,000 --
Principal payments on line of credit (1,850,000) (1,000,000)
--------------- ---------------
Net cash provided by financing activities 1,279,313 362,880
--------------- ---------------
(Decrease) increase in cash and cash equivalents (1,517,022) 189,483
Cash and cash equivalents at beginning of period 1,797,947 1,200,014
--------------- ---------------
Cash and cash equivalents at end of period $ 277,925 $ 1,389,497
=============== ===============
See notes to consolidated condensed financial statements
</TABLE>
<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.
SANDATA, INC.
(Registrant)
Date: April 30, 1999 By: \s\ Bert E. Brodsky
-------------------------
Bert E. Brodsky
Chairman of the Board
President, Chief Executive Officer,
Chief Financial Officer
<PAGE>
April 30, 1999
Securities and Exchange Commission 450 5th Street, N.W.
Washington, D.C. 20549
Re: Sandata, Inc., File No. 0-14401
Dear Sir or Madam,
Transmitted herewith through the EDGAR system is Form 10-QSB/A for the quarter
ending February 28, 1999 for Sandata, Inc. If you have any questions or
comments, please contact me at (516) 484-4400, extension 215.
Very truly yours,
Linda Scarpantonio
Legal Coordinator
|
|