<PAGE>
UNITED STATES
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 Quarterly Period Ended: January 31, 1997
Commission File Number: 34-11686
PLASTIC SPECIALTIES AND TECHNOLOGIES, INC.
(Exact name of Registrant as specified in its charter)
DELAWARE 22-2515864
(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
65 Railroad Avenue, Ridgefield, New Jersey 07657
(Address of principal executive offices)
Registrant's telephone number, including area code: (201)941-6550
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
As of May 2, 1997, there were 8,319,833 shares of common stock
outstanding of which 1,441,500 of such shares were held by unaffiliated persons.
The Company is not aware of the market value of the unaffiliated shares.
<PAGE>
Part II: OTHER INFORMATION
Item 1. Legal Proceedings: No reportable events
Item 2. Changes in Securities: None
Item 3. Default upon Senior Securities: None
Item 4. Submission of Matters to a Vote
of Security Holders: None
Item 5. Other Information: None
Item 6. Exhibits and Reports on Form 8-K:
(a) Exhibits
(27) Financial Data Schedule for
the six months ended
January 31, 1997
(b) None
14
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly cause this report to be signed on its behalf by the
undersigned thereunto duly authorized.
PLASTIC SPECIALTIES AND TECHNOLOGIES, INC.
Registrant
Date: May 2, 1997 By: /s/ Thomas V. Gilboy
--------------------------
Thomas V. Gilboy
Chief Financial Officer
15
<TABLE> <S> <C>
<ARTICLE> 5
<MULTIPLIER> 1000
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUL-31-1997
<PERIOD-START> AUG-01-1996
<PERIOD-END> JAN-31-1997
<CASH> 1,496
<SECURITIES> 0
<RECEIVABLES> 37,531
<ALLOWANCES> 632
<INVENTORY> 68,360
<CURRENT-ASSETS> 3,090
<PP&E> 51,450
<DEPRECIATION> 0
<TOTAL-ASSETS> 210,008
<CURRENT-LIABILITIES> 81,336
<BONDS> 127,856
0
0
<COMMON> 83
<OTHER-SE> (5,480)
<TOTAL-LIABILITY-AND-EQUITY> 210,008
<SALES> 98,609
<TOTAL-REVENUES> 0
<CGS> 73,957
<TOTAL-COSTS> 89,757
<OTHER-EXPENSES> 5
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 8,987
<INCOME-PRETAX> (140)
<INCOME-TAX> 165
<INCOME-CONTINUING> (305)
<DISCONTINUED> (545)
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (850)
<EPS-PRIMARY> (0.10)
<EPS-DILUTED> (0.10)
</TABLE>
