<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q/A
(Amendment No. 1)
Quarterly Report under Section 13 or 15(d)
of the Securities Exchange Act of 1934
For Quarter Ended October 31, 1995
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Commission File number 33-17856-C
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Innovative Tech Systems, Inc.
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(Exact name of registrant as specified in its charter)
Illinois 65-0071222
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
444 Jacksonville Road, Suite 200, Warminster, PA 18974
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number,
including area code (215) 441-5600
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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
filed requirements for the past 90 days:
Yes X No .
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Indicate the number of shares outstanding of each of the issuer's classes
of common stock, as of the latest practicable date:
<TABLE>
<CAPTION>
Class Outstanding at August 7, 1996
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<S> <C>
Common Stock, $.0185 par value 10,227,837
</TABLE>
Item 6. (Exhibits and Reports on Form 8-K) of Registrant's Quarterly report
on Form 10-Q for the fiscal quarter ended October 31, 1995, is hereby amended
and restated in its entirety as follows:
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits.
27. Financial Data Schedule.
(b) Reports on Form 8-K.
During the fiscal quarter ended October 31, 1995, no Current Reports on
Form 8-K were filed.
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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.
Date: August 7, 1996 By: /s/ Louis J. Desiderio
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(Louis J. Desiderio, Vice President
and Chief Financial Officer)
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INDEX OF EXHIBITS
<TABLE>
<CAPTION>
EXHIBIT NO. DESCRIPTION
<S> <C>
27 Financial Data Schedule
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 2-MOS
<FISCAL-YEAR-END> JAN-31-1996
<PERIOD-START> AUG-01-1995
<PERIOD-END> OCT-31-1995
<CASH> 2,649,042
<SECURITIES> 0
<RECEIVABLES> 1,226,438
<ALLOWANCES> (10,000)
<INVENTORY> 0
<CURRENT-ASSETS> 4,654,870
<PP&E> 744,747
<DEPRECIATION> (157,502)
<TOTAL-ASSETS> 5,620,043
<CURRENT-LIABILITIES> 257,537
<BONDS> 0
0
0
<COMMON> 189,215
<OTHER-SE> 5,173,291
<TOTAL-LIABILITY-AND-EQUITY> 5,620,043
<SALES> 917,696
<TOTAL-REVENUES> 917,696
<CGS> 43,889
<TOTAL-COSTS> 967,272
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 9,730
<INCOME-TAX> 0
<INCOME-CONTINUING> 9,730
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 9,730
<EPS-PRIMARY> 0.001
<EPS-DILUTED> 0.001
</TABLE>
