FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
January 13,1997
MPM Technologies, Inc.
(Exact Name of registrant as specified in its charter)
Washington 0-14910 81-0436060
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State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
222 W. Mission Ave., Suite 30, Spokane, WA 99201
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code (509) 326 3443
(Former name or address, if changed since last report)
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ITEM 1. CHANGES IN CONTROL OF REGISTRANT
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
ITEM 3. BANKRUPTCY OR RECEIVERSHIP
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANTS
ITEM 5. OTHER EVENTS
The company announced that it is in compliance with the alternative
to the minimum bid of $1.00 required by NASDAQ. As of December 31,
1996, the Market Value of the Public Float being $4,704,603 and
Capital and Surplus being $2,832,968. The increase in Capital and
Surplus is attributed to the purchase of 15% interest in the Skygas
venture for 1,200,000 shares of common stock valued at $1,200,000.
ITEM 6. RESIGNATION OF A REGISTRANT'S DIRECTOR
ITEM 7. FINANCIAL STATEMENTS. PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS
(a). Financial Statements of business acquired
(b). Pro forms financial information
(c). Exhibits
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MPM TECHNOLOGIES, INC. Consolidated Balance Sheet As Of
AND SUBSIDIARIES December 31, 1996, And December
(A Development Stage Company) 31, 1995
Spokane, Washington
UNAUDITED
ASSETS
<S> <C> <C>
DECEMBER DECEMBER
31, 1996 31, 1995
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CURRENT ASSETS:
Cash (Note 2) $ 40,566 $ 138,675
Prepaid Insurance 0 6,094
Receivables 37,017 25,440
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Total Current Assets 77,583 170,209
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PROPERTY, PLANT & EQUIPMENT (Note 2):
Land 70,000 70,000
Mining Claims (Note 3) 48,600 48,600
Mining Leases (Note 3) 5,437 5,437
Buildings 133,005 133,005
Mill Machinery 289,063 289,063
Vehicles & Equipment 117,633 114,115
Leasehold Improvements 0 0
Software 3,258 3,258
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Total Property, Plant & Equipment 666,996 663,478
Less Accumulated Depreciation And Amortization (344,366) (332,117)
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Net Property, Plant & Equipment 322,630 331,361
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OTHER ASSETS:
15% Investment Skygas 1,200,000 0
Deferred Exploration And Development Costs
(Note 1) 1,195,465 1,195,466
Note Receivable 275,000 275,000
Licenses, Net Of Amortization Of $6,581 and
$5,344 Respectively (Note 2) 27,507 28,745
Advance Minimum Royalties (Note 2) 50,750 50,750
Mineralized Material In Place (Note 3) 10 10
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Total Other Assets 2,748,732 1,549,971
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TOTAL ASSETS $ 3,148,945 $ 2,051,541
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MPM TECHNOLOGIES, INC. Consolidated Balance Sheet As Of
AND SUBSIDIARIES December 31, 1996, And December
(A Development Stage Company) 31, 1995 (Continued)
Spokane, Washington
UNAUDITED
LIABILITIES AND STOCKHOLDERS' EQUITY
<S> <C> <C>
DECMEBER DECEMBER
31, 1996 31, 1995
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CURRENT LIABILITIES:
Accounts Payable $ 14,356 $ 14,356
Notes Payable (Note 4) 571,724 533,951
Notes Payable To Related Parties (Note 4) 314,765 314,765
Interest Payable - Related Parties (Note 4) 129,997 129,997
Interest Payable 4,487 0
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Total Current Liabilities 1,035,329 993,069
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LONG-TERM DEBT (Net Of Current Portion):
Notes Payable 0 0
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Total Long-Term Debt 0 0
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Total Liabilities 1,035,329 993,069
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MINORITY INTEREST (Note 6):
Minority Interest In Consolidated Entities (719,352) (687,185)
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COMMITMENTS (Note 7)
STOCKHOLDERS' EQUITY:
Common Stock, $0.001 Par Value, 50,000,000 Shares
Authorized, 14,399,773 Shares, And 12,842,176
Shares Outstanding December 31, 1996, And
December 31, 1995, Respectively (Notes 6 & 8) 14,399 12,842
Additional Paid-In Capital 7,406,584 5,998,967
Deficit Accumulated During The Exploration And
Development Stage (4,588,015) (4,266,152)
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Total Stockholders' Equity 2,832,968 1,745,657
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TOTAL LIABILITIES, MINORITY INTEREST
AND STOCKHOLDERS' EQUITY $ 3,148,945 $ 2,051,541
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
MPM Technologies, Inc.
January 13,1996 /s/Robert D. Little
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(Date) Robert D. Little
Secretary
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