UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q / A
Quarterly Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
For the Quarter ended March 29, 1995
Commission File No. 0-14311
FAMILY STEAK HOUSES OF
FLORIDA, INC.
Incorporated under the laws offs IRS Employer Identification
Florida No. 59-2597349
2113 FLORIDA BOULEVARD
NEPTUNE BEACH, FLORIDA 32266
Registrant's Telephone No. (904) 249-4197
Indicate by check mark whether the registrant 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 registrant was required to
file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes X No_____
Title of each class Number of shares outstanding
Common Stock 10,815,070
$.01 par value As of May 5, 1995
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
None
ITEM 2. CHANGES IN SECURITIES
None
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
Prior to the execution of The Travelers Agreement and
the Bank Loan, the Company was in default of certain
covenants associated with the previous debt agreements.
Upon execution of the new debt agreements, the Company
was no longer in default of any debt covenants.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None
ITEM 5. OTHER INFORMATION
None
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) The following exhibits are filed as part of this
report on Form 10-Q, and this list comprises the
Exhibit Index.
No. Exhibit
4.01 Specimen Stock Certificate for shares of the
Company's Common Stock (Exhibit 4.01 to the Company's
Registration Statement on Form S-1, Registration No.
33-1887, is incorporated herein by reference.)
4.02 Amended and Restated Loan Agreement, dated March
14, 1995, by the Company and certain of its
subsidiaries, as borrowers, in favor of The Daiwa Bank,
Limited, and SouthTrust Bank of Alabama, National
Association, as lenders. (Exhibit 10.04 to the
Company's 1994 Annual Report on Form 10-K is
incorporated herein by reference.)
4.03 Second Amended and Restated Renewal Mortgage and
Security Agreement and Mortgage Spreading Agreement,
dated March 14, 1995, by the Company as mortgagor, and
The Daiwa Bank, Limited, and SouthTrust Bank of
Alabama, National Association, as lenders. (Exhibit
10.05 to the Company's 1994 Annual Report on Form 10-K
is incorporated herein by reference.)
4.04 Amended and Restated Senior Note Agreement, dated
as of February 1, 1995, by the Company and certain of
its subsidiaries, as maker, and The Phoenix Insurance
Company, and The Travelers Insurance Company, as
noteholders. (Exhibit 10.06 to the Company's 1994
Annual Report on Form 10-K is incorporated herein by
reference.)
4.05 Amended and Restated Warrant to Purchase Shares of
Common Stock, void after October 1, 2003, which
represents warrants issued to The Phoenix Insurance
Company, and The Travelers Indemnity Company, and the
Travelers Insurance Company (Exhibit 10.07 to the
Company's 1994 Annual Report on Form 10-K is
incorporated herein by reference.)
4.06 Warrant to Purchase Shares of Common Stock, void
after October 1, 2003, which represents warrants issued
to The Phoenix Insurance Company, and The Travelers
Indemnity Company, and the Travelers Insurance Company
(Exhibit 10.08 to the Company's 1994 Annual Report on
Form 10-K is incorporated herein by reference.)
4.07 Second Amended and Restated Renewal Promissory
Note, dated March 14, 1995, by the Company and certain
of its subsidiaries, as maker, in favor of SouthTrust
Bank of Alabama, National Association. (Exhibit 10.18
to the Company's 1994 Annual Report on Form 10-K is
incorporated herein by reference.)
4.08 Second Amended and Restated Renewal Promissory
Note, dated March 14, 1995, by the Company and certain
of its subsidiaries, as Maker, in favor of The Daiwa
Bank, Limited. (Exhibit 10.19 to the Company's 1994
Annual Report on Form 10-K is incorporated herein by
reference.)
4.09 Mortgage and Security Agreement, dated March 14,
1995, by the Company, as Mortgagor, in favor of The
Travelers Insurance Company, as collateral agent.
(Exhibit 10.20 to the Company's 1994 Annual Report on
Form 10-K is incorporated herein by reference.)
4.10 Amended and Restated 9.0% Senior Notes, due June
1, 1998, by the Company, as maker, in favor of TRAL &
CO., an affiliate of The Travelers Insurance Company,
dated as of February 1, 1995. (Exhibit 10.21 to the
Company's 1994 Annual Report on Form 10-K is
incorporated herein by reference.)
27.01 Financial Data Schedule
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.
FAMILY STEAK HOUSES OF FLORIDA, INC.
(Registrant)
/s/ Lewis E. Christman, Jr.
Date: July 17, 1995 Lewis E. Christman, Jr.
President
(Chief Executive Officer)
/s/ Edward B. Alexander
Date: July 17, 1995 Edward B. Alexander
Director of Finance
(Principal Financial and Accounting
Officer)
/s/ Michael J. Walters
Date: July 17, 1995 Michael J. Walters
Controller
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
THE COMPANY'S, 1995 1ST QUARTER 10-Q, AND THE COMPANY'S ANNUAL
REPORT ON FORM 10-K FOR 1994 AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000784539
<NAME> FAMILY STEAK HOUSES OF FLORIDA, INC
<S> <C> <C> <C>
<PERIOD-TYPE> 3-MOS 3-MOS YEAR
<FISCAL-YEAR-END> JAN-03-1996 DEC-28-1994 DEC-28-1994
<PERIOD-END> MAR-29-1995 MAR-30-1994 DEC-28-1994
<CASH> 2,137,600 2,699,200 1,603,100
<SECURITIES> 710,700 305,000 710,700
<RECEIVABLES> 419,000 506,100 469,600
<ALLOWANCES> 0 0 0
<INVENTORY> 313,500 349,800 324,800
<CURRENT-ASSETS> 3,777,400 4,089,000 3,583,700
<PP&E> 39,036,200 41,282,400 39,544,100
<DEPRECIATION> (12,570,200) (12,121,200) (12,648,200)
<TOTAL-ASSETS> 32,801,300 35,861,500 32,808,600
<CURRENT-LIABILITIES> 5,987,200 23,432,600 6,257,000
<BONDS> 0 0 0
<COMMON> 8,203,700 8,088,600 8,109,600
0 0 0
0 0 0
<OTHER-SE> 0 0 0
<TOTAL-LIABILITY-AND-EQUITY> 32,801,300 35,861,500 32,808,600
<SALES> 11,342,100 12,042,500 44,848,800
<TOTAL-REVENUES> 11,342,100 12,042,500 44,848,800
<CGS> 4,443,800 4,866,300 18,173,900
<TOTAL-COSTS> 10,327,800 11,213,000 44,496,100
<OTHER-EXPENSES> 25,000 25,000 86,200
<LOSS-PROVISION> 0 0 465,000
<INTEREST-EXPENSE> 449,700 485,700 1,980,100
<INCOME-PRETAX> 680,600 341,500 (2,055,300)
<INCOME-TAX> 102,000 127,800 (274,400)
<INCOME-CONTINUING> 578,600 213,700 (1,780,900)
<DISCONTINUED> 0 0 0
<EXTRAORDINARY> 0 0 0
<CHANGES> 0 0 0
<NET-INCOME> 578,600 213,700 (1,780,900)
<EPS-PRIMARY> 0.05 0.02 (0.17)
<EPS-DILUTED> 0.05 0.02 (0.17)
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