SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20459
FORM 10-KSB/A-Annual or Transitional Report
(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
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 (NO FEE REQUIRED)
Commission File Number 0-17580
FIRETECTOR INC.
(Exact name of Small Business Issuer in its charter)
Delaware 11-2941299
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
262 Duffy Avenue, Hicksville, New York 11801
(Address of principal executive offices) (zip code)
Issuer's telephone number, including area code: (516) 477-4300
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act:
Common Stock, $.001 par value per share
(Title of Class)
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 and (2) has been subject to such filing
requirements for the past 90 days. YES X NO
Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to the
best of the Registrant's knowledge, in definitive proxy or information
statements be reference in Part III of this Form 10-KSB ( )
State issuer's revenues for its most recent fiscal year: $13,527,000
The aggregate market value of the voting stock held by non-affiliates of
the Registrant, based upon the average bid and ask prices for the Registrant's
Common Stock, $.001 par value per share, as of January 8, 1996 was
$3,244,205.00.
As of January 8, 1996, the Registrant had 3,243,400 shares of Common Stock
outstanding.
Documents Incorporated by Reference: None
<PAGE>
MOORE STEPHENS L.L.P.
Report of Independent Auditors
The Board of Directors and Stockholders
Firetector Inc. and Subsidiaries
We have audited the accompanying consolidated balance sheet of Firetector Inc.
and Subsidiaries (the "Company") as of September 30, 1995 and the related
consolidated statements of operations, stockholders' equity, and cash flows for
the year then ended. These financial statements are the responsibility of the
Company's management. Our responsibility is to express an opinion on these
financial statements based on our audit.
We conducted our audit 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 consolidated financial statements referred to above present
fairly, in all material respects, the consolidated results of operations and
cash flows of Firetector Inc. and Subsidiaries at September 30, 1995 and the
consolidated results of their operations and their cash flows for the year then
ended.
The accompanying 1995 consolidated financial statements have been prepared
assuming the Company will continue as a going concern. As more fully described
in Note 1, prior to the current year the Company incurred recurring operating
losses. In addition, the Company's revolving bank credit line is due to expire
on March 31, 1996, and there is no assurance that the bank will renew the line.
Management's plans in regard to these matters are also described in Note 1. The
financial statements do not include any adjustments to reflect possible future
effects on the recoverability and classification of assets or the amounts and
classification of liabilities that may result from the possible inability of the
Company to continue as a going concern.
MOORE STEPHENS L.L.P.
December 27, 1995
New York, New York
22
<PAGE>
ERNST & YOUNG LLP
Report of Independent Auditors
The Board of Directors and Stockholders
Firetector Inc. and Subsidiaries
We have audited the accompanying consolidated statements of operations,
stockholders' equity, and cash flows of Firetector Inc. and subsidiaries for the
year ended September 30,1994. These financial statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on
these financial statements based on our audit.
We conducted our audit 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 consolidated financial statements referred to above present
fairly, in all material respects, the consolidated results of operations and
cash flows of Firetector Inc. and subsidiaries for the year ended September 30,
1994, in conformity with generally accepted accounting principles.
The accompanying 1994 consolidated financial statements have been prepared
assuming the Company will continue as a going concern. Management's plans in
regard to this matter are described in Note 1. The Company has incurred
recurring operating losses and is not in compliance with certain financial
covenants of its bank credit facility. These conditions raise substantial doubt
about the Company's ability to continue as a going concern. The 1994 financial
statements do not include any adjustments that might result from the outcome of
this uncertainty.
ERNST & YOUNG, LLP
December 29, 1994
Melville, New York
23
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Amendment to be signed on its behalf by the
undersigned hereunto duly authorised.
FIRETECTOR, INC.
(Registrant)
Date: February 12, 1996 By: /s/DENNIS P. McCONNEL
---------------------
Dennis P. McConnell,
Assisitant Secretary
