U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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 March 31, 1998
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE EXCHANGE ACT
For the transition period from to
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Commission file number 2-96455-LA
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WATER CHEF, INC.
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(Exact name of small business issuer as specified in its charter)
Delaware 86-0515678
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(State or other jurisdiction (IRS Employer
of incorporation or organization) Identification No.)
7707 E. Acoma Dr. Suite 109, Scottsdale, Arizona 85260
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(Address of principal executive offices)
602-991-4534
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(Issuer's telephone number)
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(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 CORPORATE ISSUERS
State the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.
Outstanding as of
Class March 31, 1998
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Common
Par Value $.001 per share 36,606,792
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WATER CHEF, INC.
FORM 10-QSB
FOR FIRST QUARTER ENDED MARCH 31, 1998
PART I - FINANCIAL INFORMATION
WaterChef Inc. (the "Registrant") is filing this Amendment No. 1 on
Form 10-QSB (the "Amendment") to its Quarterly Report on Form 10-QSB for the
period ended March 31, 1998 for the purpose of correcting an inadvertant
omission in the Registrant's Consolidated Statements of Operations of the line
entitled "Sale of WaterChef franchise." Included in this Amendment is the
Consolidated Statements of Operations for the three months ended March 31, 1998
and 1997.
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WATER CHEF, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTH PERIOD ENDED MARCH 31, 1998 AND 1997
(UNAUDITED)
1998 1997
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Net sales $ 101,708 $ 40,025
Cost of sales 99,167 50,669
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Gross margin 2,541 (10,644)
Selling, general &
administrative expenses 337,029 288,434
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Profit (Loss) from operations (334,488) (299,078)
Interest expense (24,783) (24,225)
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Sale of WaterChef Franchise -- 261,221
Other Net -- --
Total Other Expense (359,271) (24,225)
Gain of Foreign Subsidiary (19,649) --
Net Profit (Loss) before
provision for income taxes (339,622) (62,081)
Provision for income taxes -- --
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NET PROFIT (LOSS) (339,622) (62,081)
Loss per common share and
common share equivalent $ (0.01) $ (0)
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Weighted average number
of common shares and
common share equivalents
outstanding 36,606,792 16,838,574
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<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.
WATER CHEF, INC.
Date: June 11, 1998 /s/ David A. Conway
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David A. Conway
President, Director and Chief
Executive Officer
(Principal Operating Officer)
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