FORM 10-KSB/A
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
(MARK ONE)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
FOR THE FISCAL YEAR ENDED 12/31/95 OR
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[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
FOR THE TRANSITION PERIOD FROM TO
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COMMISSION FILE NUMBER: 33-11863
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HARBOR AMERICAN HEALTH CARE TRUST, INC.
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(Name of small business issuer in its charter)
Maryland 86-0576027
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(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
2990 N. Swan Road, Suite 228, Tucson, Arizona 85712
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(Address of principal executive offices)
Issuer's telephone number: (520) 326-2000
Securities registered under Section 12(b) of the Exchange Act:
Title of each class: None
Name of each exchange on which registered: None
Securities registered under Section 12(g) of the Exchange Act:
None (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 issuer was
required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes X No
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Check if there is no disclosure of delinquent filers in response
to Item 405 of Regulation S-B contained in this form, and no
disclosure will be contained, to the best of issuer's knowledge,
in definitive proxy or information statements incorporated by
reference in Part III of this Form 10-KSB/A or any amendment to
this Form 10-KSB/A [X]
The issuer's revenues for the fiscal year ended December 31, 1995
were $933,639.
The aggregate market value of the voting common stock, $.01 par
value ("Common Stock"), held by non-affiliates of the issuer as
of March 29, 1996 was $377,600. 397,600 shares of Common Stock
of the registrant were outstanding as of March 29, 1996.
Transitional Small Business Disclosure Format (check one):
Yes No X
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Total of sequentially numbered pages:
Exhibit Index on sequential page number:
<PAGE>
PART III
Item 13: Exhibits and Reports on Form 8-K.
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(a) Documents filed as part of this Report.
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1. The following financial statements are filed as a part
of this Report on the pages indicated:
Form 10-KSB/A
Page
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Independent Auditors Report F-1
(b) Reports on Form 8-K.
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None.
(c) Exhibits.
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None.
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INDEPENDENT AUDITORS' REPORT
Board of Directors and Stockholders
Harbor American Health Care Trust, Inc.
Tucson, Arizona
We have audited the accompanying balance sheets of Harbor
American Health Care Trust, Inc. as of December 31, 1995 and
1994, and the related statements of income (with reconciliation
of distributions in excess of net earnings), and cash flows for
the years then ended. These financial statements are the
responsibility of the Trust's management. Our responsibility is
to express an opinion on these financial statements based on our
audits.
We conducted our audits in accordance with generally accepted
auditing standards. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An
audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that
our audit provides a reasonable basis for our opinion.
In our opinion, the financial statements referred to above
present fairly, in all material respects, the financial position
of Harbor American Health Care Trust, Inc. as of December 31,
1995 and 1994, and the results of its operations and its cash
flows for the years then ended in conformity with generally
accepted accounting principles.
The accompanying financial statements have been prepared assuming
that the Trust will continue as a going concern. As discussed in
Note 1 to the financial statements, the accumulation of losses
and carrying costs of an unleased facility raise a substantial
doubt about its ability to continue as a going concern.
Management's plans concerning these matters are also described in
Note 1. The financial statements do not include any adjustments
that might result from the outcome of this uncertainty.
/s/ La Voie, Clark, Charvoz & May, P.C.
Tucson, Arizona
March 15, 1996
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SIGNATURES
In accordance with Section 13 or 15(d) of the Exchange Act,
the Registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
Dated: October 11, 1996 HARBOR AMERICAN HEALTH CARE TRUST, INC.
By: /s/ F. Dale Markham
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F. Dale Markham, President and
Treasurer (Principal Executive,
Financial and Accounting Officer)
In accordance with the Exchange Act, this report has been
signed below by the following persons on behalf of the Registrant
in the capacities and on the dates indicated.
Dated: October 11, 1996 By: /s/ F. Dale Markham
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F. Dale Markham, Director,
President, Treasurer (Principal
Executive, Financial and
Accounting Officer)
Dated: October 11, 1996 By: /s/ Grady P. Hunter
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Grady P. Hunter, Director
