<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB/A
Quarterly Report Under Section 13 or 15(d) of the
Securities Exchange Act of 1934
FOR QUARTER ENDING MARCH 31, 1996
Commission file number 33-4309-D
AGTSPORTS, INC.
(Exact name of registrant as specified in its charter)
COLORADO 84-1022287
(State of incorporation) (IRS Employer ID number)
6890 SOUTH TUCSON WAY, SUITE 202, ENGLEWOOD, COLORADO 80112
(Address of principle executive office) (Zip Code)
(303) 792-5000
(Registrant's telephone number, including area code)
Indicate by check mark whether the registrant (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 registrant
was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
YES X NO
--- ---
March 31, 1996, 19,991,126 common shares, $.001 par value per share were
outstanding.
<PAGE>
AGTSPORTS, INC. &
INDEX
PAGE NUMBER
PART 1.
ITEM 1. Financial Information
STATEMENT BALANCE SHEETS MARCH 31, 1996 AND
SEPTEMBER 30, 1995 3
STATEMENT OF OPERATIONS THREE MONTHS AND
SIX MONTHS ENDED MARCH 31, 1996 AND 1995 4
STATEMENT OF CASH FLOWS SIX MONTHS ENDED
MARCH 31, 1996 AND 1995 5
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS 6
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS 7
ITEM 2. CHANGES IN SECURITIES 7
ITEM 3. DEFAULT ON SENIOR SECURITIES 7
ITEM 4. MATTERS TO A VOTE OF SECURITY HOLDERS 7
ITEM 5. OTHER INFORMATION 8
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K 8
SIGNATURES 9
EXHIBIT 27 10
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
AGTSPORTS, INC.
Dated: July 2, 1996 By: /s/ B. Mack DeVine
-----------------------------
B. Mack DeVine
ACTING PRESIDENT
Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of the Registrant and
in the capacities and on the dates indicated.
Dated July 2, 1996 By: /s/ B. Mack DeVine
-----------------------------
B. Mack DeVine
ACTING PRESIDENT
Dated July 2, 1996 By: /s/ B. Mack DeVine
-----------------------------
B. Mack DeVine
ACTING PRESIDENT
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from balance
sheet and statement of operations filed as for 10-QSB and is qualified in its
entirety by such registrant's annual report on 10-KSB for year end period
September 30, 1995.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> MAR-31-1996
<CASH> 34991
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 34991
<PP&E> 1377776
<DEPRECIATION> 953832
<TOTAL-ASSETS> 1418931
<CURRENT-LIABILITIES> 1611064
<BONDS> 0
0
0
<COMMON> 19991
<OTHER-SE> (980812)
<TOTAL-LIABILITY-AND-EQUITY> 1418931
<SALES> 27429
<TOTAL-REVENUES> 27429
<CGS> 0
<TOTAL-COSTS> 1293404
<OTHER-EXPENSES> 13513
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 13952
<INCOME-PRETAX> (1279488)
<INCOME-TAX> 0
<INCOME-CONTINUING> (1,274,338)
<DISCONTINUED> 0
<EXTRAORDINARY> 5150
<CHANGES> 0
<NET-INCOME> (1274338)
<EPS-PRIMARY> (.07)
<EPS-DILUTED> (.07)
</TABLE>
