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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K/A
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) May 26, 2000 (April 19, 2000)
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COLLEGIATE PACIFIC INC.
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(Exact Name of Registrant as Specified in Charter)
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<S> <C> <C>
Delaware 0-17293 22-2795073
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(State or Other Jurisdiction of (Commission File Number) (IRS Employer
Incorporation) Identification No.)
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13950 Senlac, Suite 200, Farmers Branch, Texas 75234
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (972) 243-8100
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None
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(Former Name or Former Address, if Changed Since Last Report)
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Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(b) Pro Forma Financial Information.
The accompanying unaudited pro forma condensed consolidated balance
sheet gives effect to the conversion of the Subordinated
Convertible Promissory Notes (the "Notes") of Collegiate Pacific Inc, (the
"Company") (as described in the Company's Registration Statement on Form SB-2,
filed with the Securities and Exchange Commission on May 8, 2000 (the
"Registration Statement")) into 677,267 shares of the Company's common stock,
$.01 par value per share, (the "Common Stock"), on April 19, 2000. The unaudited
pro forma condensed consolidated balance sheet gives effect to the conversion as
if it had occurred on March 31, 2000.
The unaudited pro forma condensed consolidated financial balance sheet
is provided for comparative purposes and has been prepared based upon the
historical financial statements of the Company. The pro forma adjustments
reflect the Company's preliminary assumptions and estimates based upon available
information. The unaudited pro forma condensed consolidated balance sheet does
not purport to be indicative of the results which would actually have been
obtained if the conversion had been effected on the date indicated. The
unaudited pro forma condensed consolidated balance sheet should be read
in conjunction with the Company's historical balance sheet and related notes
thereto.
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COLLEGIATE PACIFIC INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
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March 31, 2000 (Unaudited)
Pro Forma
Historical Adjustments Pro Forma
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ASSETS
CURRENT ASSETS
Cash and cash equivalents $ 391,830 $ $ 391,830
Accounts receivable, net of the allowance for doubtful accounts of 1,479,849 1,479,849
$50,236 and $38,806, respectively
Inventories 2,530,774 2,530,774
Prepaid expenses and other assets 474,065 474,065
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Total current assets 4,876,518 4,876,518
PROPERTY AND EQUIPMENT 264,484 264,484
Less accumulated depreciation (123,682) (123,682)
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140,802 140,802
OTHER ASSETS
License agreements, net of accumulated amortization of $96,937 and 504,981 504,981
$50,030, respectively
Cost in excess of net tangible assets acquired, net of accumulated 596,148 596,148
amortization of $70,142 and $42,373, respectively
Other assets, net 53,513 53,513
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$ 6,171,962 $ $ 6,171,962
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LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable $ 571,925 $ $ 571,925
Accrued expenses 52,181 52,181
Other current liabilities 56,372 56,372
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Total current liabilities 680,478 680,478
Note payable to stockholders 2,235,000 (2,235,000) --
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Total liabilities 2,915,478 (2,235,000) 680,478
STOCKHOLDERS' EQUITY
Common stock, $.01 par value; authorized 50,000,000 shares; issued 35,673 6,773 42,446
3,567,340 and 3,440,367 shares, respectively
Additional paid-in capital 4,300,242 2,228,227 6,528,469
Accumulated deficit (953,787) (953,787)
Treasury shares; at cost 10,860 and 900 shares, respectively (125,644) (125,644)
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Total stockholders' equity 3,256,484 2,235,000 5,491,484
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$ 6,171,962 $ $ 6,171,962
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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.
COLLEGIATE PACIFIC INC.
Dated: May 26, 2000 By: /s/ MICHAEL J. BLUMENFELD
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Name: Michael J. Blumenfeld
Title: Chairman and Chief Executive Officer
