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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-KSB/A
(Mark One)
X Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange
- ----- Act of 1934 (Fee Required)
For the fiscal year ended September 30, 1995
- ----- Transition Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 (No Fee Required)
For the transition period from __________ to __________
Commission File number 0-15318
BALLISTIC RECOVERY SYSTEMS, INC.
(Name of Small Business Issuer in its Charter)
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<S> <C>
Minnesota 41-1372079
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(State or other jurisdiction of (IRS Employer ID Number)
incorporation or organization)
1845 Henry Avenue, South St. Paul, Minnesota 55075-3541
- -------------------------------------------- ----------
(Address of Principal Executive Offices) (Zip Code)
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Issuer's telephone number including area code: (612) 457-7491
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act:
Common Stock, $.01 par value
(Title of Class)
Check whether the Issuer (1) has 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:
X Yes No
- ---- ----
Check if there is no disclosure of delinquent filers in response to Item 405 of
Registration S-B contained in this form, and no disclosure will be contained,
to the best of the registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB. X .
-----
State issuer's revenues for the most recent fiscal year: $1,137,134.
Based upon the average bid and asked prices of the Registrant's Common Stock,
the aggregate market value of the Common Stock held by Non-affiliates of the
Registrant as of December 15, 1995 was approximately $846,000.
Number of shares outstanding as of December 15, 1995: 4,454,474.
Index for exhibits is located on page 27. This document contains 32 pages.
1
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PART IV
Item 13. Exhibits, Lists and Reports on Form 8-K.
(a) Exhibits
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<CAPTION>
Page Exhibit
Number Number Description
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3.1 Company's Articles of Incorporation,
as amended, appear as Exhibit 3.1 to the
Company's Registration Statement on Form
S-1 (No. 33-21843) filed May 12, 1988
("Form S-1") and are incorporated herein
by reference.
3.2 Company's Restated Bylaws as
amended, were filed as Exhibit 3.2, under
Form 8, Amendment No. 1 ("1990
Amendment") to Company's Report on Form
10-K for the fiscal year ended September
30, 1990 (the "1990 10-K") and are
incorporated herein by reference.
10.1 Covenant not to Compete Agreement dated
October 26, 1995 between the Company
and the President and majority
shareholder of Second Chantz Aerial
Survival Equipment, Inc. was previously
filed.
10.2 Non-qualified Stock Option Plan appears
as Exhibit 10-1 to Amendment No. 1 to
the Form S-1 and is incorporated herein
by reference.
10.3 Stock Option Plan for Non-employee
Directors dated February 12, 1990
appears as Exhibit 10.5 to the 1989
10-K and is incorporated herein by
reference.
27 Financial Data Schedule
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(b) The Company did not file any Current Reports on Form 8-K during the fourth
quarter ended September 30, 1995.
27
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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.
BALLISTIC RECOVERY SYSTEMS, INC.
By /s/ Mark B. Thomas
------------------
Mark B. Thomas
Principal Executive Officer, Principal Financial Officer and Principal
Accounting Officer
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.
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<CAPTION>
Signature Title Date
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<S> <C> <C>
/s/ Darrel D. Brandt Director December 28, 1995
- --------------------------
Darrel D. Brandt
/s/ Boris Popov Director December 28, 1995
- --------------------------
Boris Popov
/s/ Robert L. Nelson Director December 28, 1995
- --------------------------
Robert L. Nelson
/s/ Thomas H. Adams Director December 28, 1995
- -------------------------
Thomas H. Adams
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28
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1995
<PERIOD-END> SEP-30-1995
<CASH> 16,977
<SECURITIES> 0
<RECEIVABLES> 71,038
<ALLOWANCES> 5,000
<INVENTORY> 175,354
<CURRENT-ASSETS> 261,338
<PP&E> 67,005
<DEPRECIATION> 53,061
<TOTAL-ASSETS> 281,081
<CURRENT-LIABILITIES> 226,748
<BONDS> 0
0
0
<COMMON> 44,545
<OTHER-SE> 9,788
<TOTAL-LIABILITY-AND-EQUITY> 281,081
<SALES> 1,137,134
<TOTAL-REVENUES> 1,137,134
<CGS> 756,115
<TOTAL-COSTS> 756,115
<OTHER-EXPENSES> 326,554
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 9,167
<INCOME-PRETAX> 45,803
<INCOME-TAX> 300
<INCOME-CONTINUING> 45,503
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 45,503
<EPS-PRIMARY> .01
<EPS-DILUTED> .01
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