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<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report July 19, 1995
AMERICAN CONSOLIDATED LABORATORIES, INC.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
FLORIDA
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(STATE OF INCORPORATION OR ORGANIZATION)
000-18448 59-2624130
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(COMMISSION FILE NUMBER) (IRS TAX NUMBER)
6416 PARKLAND DRIVE, SARASOTA, FLORIDA 34243
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA: (813) 753-0383
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<PAGE> 2
ITEM 5. OTHER EVENTS
The Company has filed an application for inclusion of its securities
on The Nasdaq SmallCap Market. In connectin with this application, the Company
is filing with the Securities and Exchange Commission and Nasdaq an 8-K Report
containing a balance sheet evidencing compliance with the Nasdaq listing
criteria.
Attached hereto as Exhibit A is an unaudited balance sheet of the
Company at June 19, 1995. The balance sheet gives effect during the period
from March 31, 1995 through June 19, 1995 of the conversion of debt in the
amount of $250,000 into 166,666 shares of Common Stock, the acquisition of the
assets of Philcon Laboratories, Inc. and the extension to September 30, 1997 of
certain indebtedness outstanding in the amount of $800,000.
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.
AMERICAN CONSOLIDATED LABORATORIES, INC.
By:/s/ Wayne Upham Smith
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Wayne Upham Smith
Chairman and Chief Executive Officer
Date: July 19, 1995
<PAGE> 3
AMERICAN CONSOLDIATED LABORATORIES, INC.
CONSOLIDATED BALANCE SHEETS
ASSETS
<TABLE>
<CAPTION>
June 19,
1995
Unaudited
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<S> <C>
Current Assets:
Cash and cash equivalents $ 90,038
Accounts receivable, less allowance for
doubtful accounts of $73,105 1,492,323
Inventories, at lower cost (first in
first-out) or market 1,042,780
Other current assets 100,571
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Total Current Assets $ 2,725,712
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Property and Equipment at Cost:
Land $ 50,000
Buildings and improvements 205,000
Laboratory equipment 1,112,263
Office equipment 334,083
Leasehold improvements 60,150
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1,761,496
Less accumulated depreciation 1,139,673
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$ 621,823
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Other Assets:
Cost in excess of fair value of
assets acquired $ 828,400
Other tangible assets 865,000
Deferred loan costs 63,049
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1,756,449
Less accumulated amortization 210,114
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$ 1,546,335
Miscellaneous 45,097
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$ 1,591,432
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$ 4,938,967
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</TABLE>
<PAGE> 4
AMERICAN CONSOLIDATED LABORATORIES, INC.
CONSOLIDATED BALANCE SHEETS (CONTINUED)
LIABILITIES AND STOCKHOLDER'S EQUITY
<TABLE>
<CAPTION>
June 19,
1995
Unaudited
---------
<S> <C>
Current Liabilities:
Accounts payable $1,363,784
Accrued expenses 198,798
Notes payable to stockholders 310,000
Current maturities of long-term debt
and obligation under capital lease 91,075
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Total current liabilities $1,963,657
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Long-Term Debt:
Obligation under capital lease 30,125
Long-term debt other 821,200
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Total long term debt $ 851,325
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Deferred rent 59,976
Commitments and Contingencies
Stockholder's Equity:
Common stock, $.05 par value, 20,000,000
shares authorized; 4,168,175 issued 208,409
Capital in excess of par value 5,650,022
Deficit (3,794,422)
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Total stockholder's equity 2,064,009
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$4,938,967
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</TABLE>
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