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Previous: JMB MORTGAGE PARTNERS LTD IV, 10-Q/A, 1996-08-26 |
Next: INSURED MUNICIPALS INCOME TR & INVS QUAL TAX EX TR MUT SE 27, 485BPOS, 1996-08-26 |
<PAGE> 1
================================================================================
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 fiscal quarter ended May 31, 1996 Commission file number 0-15671
------------ -------
UNICOMP, INC.
(Exact name of Registrant as specified in its charter)
COLORADO
(State or other jurisdiction of 84-1023666
incorporation or organization) (I.R.S. Employer Identification No.)
1800 SANDY PLAINS PKWY., SUITE 305
MARIETTA, GA 30066
(Address of principal executive offices) (zip code)
Registrant's telephone number: (770) 424-3684
Indicate by check mark whether the registrant (1) has filed all reports
required to be files by Section 13 or 15(d) of the Exchange Act 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 number of shares outstanding of the registrant's Common Stock as of July
12, 1996 was 5,248,232.
================================================================================
<PAGE> 2
UNICOMP, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
for the three months ended May 31, 1996 and May 31, 1995
<TABLE>
<CAPTION>
THREE MONTHS ENDED THREE MONTHS ENDED
MAY 31, 1996 MAY 31, 1995
<S> <C> <C>
Net cash provided (used) by operating activities:
Net income $ 460,560 $ 446,627
Adjustments to reconcile net income to net cash
used by operations:
Depreciation and amortization 542,472 374,471
Gain on sale of equipment (5,342)
Allowance for doubtful accounts (16,913) 21,206
Deferred taxes 5,825 75,000
Changes in assets and liabilities:
Accounts and other receivables (309,541) 98,739
Inventories 100,136 (261,980)
Prepaid expenses (67,678) (61,718)
Accounts payable (411,426) 146,130
Accrued expenses (397,405) (210,062)
Other accrued taxes (74,135) 16,174
Deferred revenues (348,228) (884,452)
Income taxes payable 61,369 (26,864)
Other (51,523) (507)
--------- ---------
Net cash used by operating activities (511,829) (267,236)
--------- ---------
Cash flow from investing activities:
Capital expenditures (127,811) (392,971)
Acquired and developed software (497,278) (365,322)
--------- ---------
Net cash used by investing activities (625,089) (758,293)
--------- ---------
Cash flow from financing activities:
Payments on notes payable (186,612) (61,228)
Proceeds from borrowing 655,102 832,969
Issuance of common stock, net 0 153,375
Reclassification of notes receivable from related party 0 82,000
--------- ---------
Net cash provided by financing activities 468,490 1,007,116
--------- ---------
Net decrease in cash (668,428) (18,413)
--------- ---------
Effect of exchange rates on cash 15,701 2,445
--------- ---------
Cash and cash equivalents at beginning of period 1,261,153 85,845
--------- ---------
Cash and cash equivalents at the end of the period $ 608,426 $ 69,877
========= =========
The accompanying notes are an integral part of these consolidated financial statements.
</TABLE>
6
<PAGE> 3
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.
UNICOMP, INC.
/s/ L. Allen Plunk August 26, 1996
- ------------------------------ -------------------------
L. Allen Plunk Date
Chief Financial Officer
13
<PAGE> 4
UNICOMP, INC.
EXHIBIT INDEX
Financial Data Schedule (for SEC use only).
14
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> FEB-28-1997
<PERIOD-START> MAR-01-1996
<PERIOD-END> MAY-31-1996
<CASH> 608,426
<SECURITIES> 0
<RECEIVABLES> 5,245,772
<ALLOWANCES> 120,965
<INVENTORY> 615,808
<CURRENT-ASSETS> 8,114,000
<PP&E> 4,332,466
<DEPRECIATION> 1,979,698
<TOTAL-ASSETS> 16,460,228
<CURRENT-LIABILITIES> 6,372,034
<BONDS> 2,482,811
0
0
<COMMON> 52,482
<OTHER-SE> 7,027,967
<TOTAL-LIABILITY-AND-EQUITY> 16,460,228
<SALES> 2,475,684
<TOTAL-REVENUES> 5,884,035
<CGS> 1,885,001
<TOTAL-COSTS> 2,440,050
<OTHER-EXPENSES> 2,652,938
<LOSS-PROVISION> 1,479
<INTEREST-EXPENSE> 92,804
<INCOME-PRETAX> 698,243
<INCOME-TAX> 237,683
<INCOME-CONTINUING> 460,560
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 460,560
<EPS-PRIMARY> .09
<EPS-DILUTED> .09
</TABLE>
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