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Previous: HT INSIGHT FUNDS INC, 497, 1998-07-28 |
Next: ADVANTAGE LIFE PRODUCTS INC / CO, SC 13D, 1998-07-28 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended May 31, 1998
-------------------------------------------------
or
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from ______________________ to _______________________
Commission File Number: 001-9872
---------------------------------------------------------
COLUMBUS ENERGY CORP.
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Colorado 84-0891713
- --------------------------------------------------------------------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
1660 Lincoln St., Denver, CO 80264
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
(303) 861-5252
- --------------------------------------------------------------------------------
(Registrant's telephone number, including area code)
Not Applicable
- --------------------------------------------------------------------------------
(Former name, former address and former fiscal year, if
changed since last report)
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 _____
Indicate the number of shares outstanding of each of the issuer's classes
of common stock, as of the latest practicable date.
Class Outstanding at July 10, 1998
- --------------------------- ----------------------------
Common stock, $.20 par value 4,209,794
<PAGE>
PART II - OTHER INFORMATION
Item 1. LEGAL PROCEEDINGS
Management is unaware of any asserted or unasserted claims or assessments
against the Company which would materially affect the Company's future financial
position or results of operations.
Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
Annual meeting held May 7, 1998 in Denver, Colorado for the purpose of
electing members of the board of directors. Proxies for the meeting were
solicited pursuant to Section 14(a) of the Securities Exchange Act of 1934 and
there was no solicitation in opposition to management's solicitations.
All of management's nominees for three Class I directors as listed in the
proxy statement were elected with the following vote:
<TABLE>
<CAPTION>
Shares
Shares Abstaining
Nominee Shares For Against or Withheld
<S> <C> <C> <C>
Harry A. Trueblood, Jr. 3,854,110 1,570 49,593
William H. Blount, Jr. 3,854,982 698 49,493
Donald W. Ringsby 3,854,982 698 49,593
</TABLE>
Item 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits
27 - Financial data schedule - May 31, 1998
27.1 - Financial data schedules (restated)
- for periods ended November 30, 1997,
August 31, 1997, May 31, 1997, and
February 28, 1997
27.2 - Financial data schedules (restated)
- for periods ended November 30, 1996,
August 31, 1996, May 31, 1996 and
February 29, 1996
(b) Reports on Form 8-K
None
<PAGE>
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 thereunto duly authorized.
COLUMBUS ENERGY CORP.
-------------------------------
(Registrant)
DATE: July 28, 1998 /s/ Harry A. Trueblood, Jr.
----------------------------- ---------------------------
Harry A. Trueblood, Jr.
Chairman, President and
Chief Executive Officer
(a duly authorized officer)
DATE: July 28, 1998 /s/ Ronald H. Beck
----------------------------- ---------------------------
Ronald H. Beck
Vice President
(Chief Accounting Officer)
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THE CONSOLIDATED BALANCE SHEETS AS OF NOVEMBER 30, 1997, AUGUST 31, 1997, MAY
31, 1997 AND FEBRUARY 28, 1997 AND THE CONSOLIDATED STATEMENTS OF INCOME FOR THE
PERIODS THEN ENDED AS RESTATED FOR ADOPTION OF FAS-128 AND AFTER STOCK DIVIDENDS
AND STOCK SPLIT.
</LEGEND>
<CIK> 0000823975
<NAME> Columbus Energy Corp.
<MULTIPLIER> 1000
<CURRENCY> U.S. DOLLARS
<S> <C> <C> <C> <C>
<PERIOD-TYPE> 12-MOS 9-MOS 6-MOS 3-MOS
<FISCAL-YEAR-END> NOV-30-1997 NOV-30-1997 NOV-30-1997 NOV-30-1997
<PERIOD-START> DEC-01-1996 DEC-01-1996 DEC-01-1996 DEC-01-1996
<PERIOD-END> NOV-30-1997 AUG-31-1997 MAY-31-1997 FEB-28-1997
<EXCHANGE-RATE> 1 1 1 1
<CASH> 1,857 1,232 1,186 1,608
<SECURITIES> 0 0 0 0
<RECEIVABLES> 3,896 3,707 3,347 2,998
<ALLOWANCES> 116 116 116 116
<INVENTORY> 102 248 85 96
<CURRENT-ASSETS> 5,911 5,658 4,888 5,114
<PP&E> 35,856 36,391 32,959 31,176
<DEPRECIATION> 15,632 15,267 14,379 13,677
<TOTAL-ASSETS> 26,135 26,782 23,468 22,613
<CURRENT-LIABILITIES> 5,189 4,292 3,578 2,730
<BONDS> 0 0 0 0
0 0 0 0
0 0 0 0
<COMMON> 898 889 886 708
<OTHER-SE> 17,060 16,732 16,344 19,768
<TOTAL-LIABILITY-AND-EQUITY> 26,135 26,782 23,468 22,613
<SALES> 13,815 9,919 6,644 3,765
<TOTAL-REVENUES> 15,096 10,922 7,293 4,078
<CGS> 3,107 2,323 1,576 839
<TOTAL-COSTS> 11,330 7,431 4,712 2,196
<OTHER-EXPENSES> (4) (5) (6) 3
<LOSS-PROVISION> 0 0 0 0
<INTEREST-EXPENSE> 174 111 65 35
<INCOME-PRETAX> 3,596 3,385 2,522 1,844
<INCOME-TAX> 1,429 1,286 958 701
<INCOME-CONTINUING> 2,167 2,099 1,564 1,143
<DISCONTINUED> 0 0 0 0
<EXTRAORDINARY> 0 0 0 0
<CHANGES> 0 0 0 0
<NET-INCOME> 2,167 2,099 1,564 1,143
<EPS-PRIMARY> 0.50 0.49 0.36 0.26
<EPS-DILUTED> 0.49 0.48 0.36 0.26
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THE CONSOLIDATED BALANCE SHEETS AS OF NOVEMBER 30, 1996, AUGUST 31, 1996, MAY
31, 1996 AND FEBRUARY 29, 1996 AND THE CONSOLIDATED STATEMENTS OF INCOME FOR THE
PERIODS THEN ENDED AS RESTATED FOR ADOPTION OF FAS-128 AND AFTER STOCK DIVIDENDS
AND STOCK SPLIT.
</LEGEND>
<CIK> 0000823975
<NAME> Columbus Energy Corp.
<MULTIPLIER> 1000
<CURRENCY> U.S. DOLLARS
<S> <C> <C> <C> <C>
<PERIOD-TYPE> 12-MOS 9-MOS 6-MOS 3-MOS
<FISCAL-YEAR-END> NOV-30-1996 NOV-30-1996 NOV-30-1996 NOV-30-1996
<PERIOD-START> DEC-01-1995 DEC-01-1995 DEC-01-1995 DEC-01-1995
<PERIOD-END> NOV-30-1996 AUG-31-1996 MAY-31-1996 FEB-29-1996
<EXCHANGE-RATE> 1 1 1 1
<CASH> 1,396 1,122 1,552 1,067
<SECURITIES> 0 0 0 0
<RECEIVABLES> 2,433 2,737 2,395 2,909
<ALLOWANCES> 116 116 116 116
<INVENTORY> 115 96 94 86
<CURRENT-ASSETS> 4,536 4,050 4,632 4,837
<PP&E> 30,032 29,775 27,941 27,484
<DEPRECIATION> 12,943 12,845 12,101 11,440
<TOTAL-ASSETS> 21,625 20,980 20,472 20,881
<CURRENT-LIABILITIES> 2,570 2,829 2,699 2,696
<BONDS> 0 0 0 0
0 0 0 0
0 0 0 0
<COMMON> 700 692 667 667
<OTHER-SE> 15,525 14,268 13,380 12,993
<TOTAL-LIABILITY-AND-EQUITY> 21,625 20,980 20,472 20,881
<SALES> 10,572 7,745 5,231 2,592
<TOTAL-REVENUES> 11,815 8,836 6,024 3,084
<CGS> 3,016 2,234 1,479 830
<TOTAL-COSTS> 8,226 6,130 4,119 2,116
<OTHER-EXPENSES> 2 17 17 10
<LOSS-PROVISION> 0 0 0 0
<INTEREST-EXPENSE> 260 207 142 71
<INCOME-PRETAX> 3,327 2,482 1,746 887
<INCOME-TAX> 1,229 943 663 337
<INCOME-CONTINUING> 2,098 1,539 1,083 550
<DISCONTINUED> 0 0 0 0
<EXTRAORDINARY> 0 0 0 0
<CHANGES> 0 0 0 0
<NET-INCOME> 2,098 1,539 1,083 550
<EPS-PRIMARY> 0.50 0.37 0.26 0.13
<EPS-DILUTED> 0.49 0.36 0.26 0.13
</TABLE>
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