SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K/A
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act OF 1934
Date of Report (Date of Earliest Event Reported): August 15, 1996
ORGANIK TECHNOLOGIES, INC.
(Exact Name of Registrant as Specified in its Charter)
WASHINGTON 1-12924 81-0440517
(State or other (Commission (IRS Employer
jurisdiction File Number) Identification
of incorporation) Number)
1919 70th Avenue West, Tacoma, Washington 98466
(Address of principal executive offices) (Zip Code)
(206) 564-1400
(Registrant's telephone number, including area code)
Not applicable
(Former name or former address, if changed since last report)
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ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS.
(a) Financial Statements of Business Acquired.
Audited Financial Statements.
(i) Independent Auditor's Report.
(ii) Balance Sheet as of July 31, 1996.
(iii) Notes to Financial Statements Period Ended
July 31, 1996.
(b) Pro Forma Financial Information.
(i) Narrative Statement.
(c) Exhibits.
None.
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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 hereunto duly authorized.
ORGANIK TECHNOLOGIES, INC.
--------------------------
(Registrant)
Date OCTOBER 16, 1996
/S/ A.J. SALOMON
-------------------------------
A. J. Salomon, Secretary/
Chief Financial Officer
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DAVID BELZER, CPA
3901 Fremont Avenue N., #202
Seattle, WA 98103
(206) 781-4220
REPORT OF INDEPENDENT ACCOUNTANT
September 18, 1996
Officers and Directors
Emerald Apparel, Inc.
I have audited the accompanying balance sheet of Emerald Apparel, Inc.
as of July 31, 1996. This balance sheet is the responsibility of the
management of Emerald Apparel, Inc. My responsibility is to express an
opinion on this balance sheet based on my audit
I conducted my audit in accordance with generally accepted auditing
standards. Those standards require that I plan and perform the audit to
obtain reasonable assurance about whether the balance sheet is free of
material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the balance sheet.
An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the
overall balance sheet presentation. I believe that my audit provides a
reasonable basis for my opinion.
In my opinion, the balance sheet referred to above presents fairly, in
all material respects, the financial position of EMERALD APPAREL, INC.
as of July 31, 1996 in conformity with generally accepted accounting
principles.
/s/ DAVID C. BELZER
DAVID C. BELZER
Certified Public Accountant
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<TABLE>
<CAPTION>
EMERALD APPAREL, INC.
Balance Sheet
July 31, 1996
(See Independent Auditor's Report)
<S> <C>
ASSETS
Current Assets
Cash $ 100
------
Other Assets
Organization fees 650
Less accumulated amortization (22)
------
628
------
Total assets $ 728
========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Loan from stockholder $ 650
------
Stockholders' Equity
Common stock - 25,000 shares authorized without
par value, 2,000 shares issued and outstanding 100
Retained earnings -
Current period income (loss) (22)
------
Total stockholders' equity 78
------
Total liabilities and stockholders' equity $ 728
========
</TABLE>
The accompanying notes are an integral part of this financial statement.
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EMERALD APPAREL, INC.
Notes to the Balance Sheet
July 31, 1996
(See Independent Auditor's Report)
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Incorporation
The Company was incorporated as a Nevada corporation on June 16, 1996.
Basis of Presentation
No operating activity has occurred since the incorporation date until
the balance sheet date. On August 16, 1996, all the Company's shares
were acquired by Organik Technologies, Inc., in exchange for 2 million
shares of Organik Technologies, Inc., in a stock-for-stock swap.
Organization costs are being amortized over 60 months under the
straight-line method.
NOTE 2 - RELATED PARTY TRANSACTIONS
See Note 1 regarding stock-for-stock swap.
On August 16, 1996 , the Company's President and its
Secretary/Treasurer were appointed President and Secretary/Treasurer of
Organik Technologies, Inc., the acquiring company, in conjunction with
the above stock swap.
The incorporation fees were loaned to the Company by a stockholder and
officer in an unsecured, interest-free loan to be repaid within one
year.
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NARRATIVE STATEMENT REGARDING PRO-FORMA FINANCIAL
INFORMATION
Pursuant to Regulation S-X, Rule 11-02(b), and telephone conversations and
correspondence with Kim Calder and Patricia Woodbury, the following narrative
is presented in lieu of pro-forma financial statements:
The acquired corporation, Emerald Apparel, Inc., is a newly-formed
corporation with an immaterial amount of assets or liabilities, and with no
previous operating history. Therefore, the pro-forma financial statements
of the acquiring company, Organik Technologies, Inc. showing the acquisition
of Emerald Apparel, Inc. would substantially be the same as the original
financial statements, which already have been filed.
