SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
Quarterly Report Under Section 13 or 15(d) of the
Securities Exchange Act of 1934
For Quarter Ended: September 30, 1996
Commission File Number: 000-17129
Clark Melvin Securities Corporation
(Exact name of registrant as specified in its charter)
Delaware 52-0749204
(State of other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
170 Jennifer Road, Suite 270, Annapolis, Maryland 21401
(Address of principal executive offices) (Zip Code)
(410) 266-5250
(Registrant's telephone number, including area code)
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
The number of shares of the registrant's common stock, $.01 par value per share,
outstanding as of September 30, 1996 was 18,523,096.
<PAGE>
CLARK MELVIN SECURITIES CORPORATION
STATEMENT OF OPERATIONS
<TABLE>
<CAPTION>
(Unaudited) (Unaudited)
Three Months Ended Nine Months Ended
September 30 September 30
1996 1995 1996 1995
<S> <C>
REVENUES
Commissions $ 427,564 $ 474,560 $ 1,096,835 $ 1,308,194
Advisory and Fee Income 135,250 34,702 302,910 189,447
Interest / Dividends 5,072 5,321 15,155 14,093
Margin 12,527 8,631 33,818 21,735
Trailer Fees 20,596 15,663 51,906 38,486
Miscellaneous 3,575 2,837 25,459 27,908
---------- ----------- ------------ ------------
Total Revenues $ 604,584 $ 541,713 $ 1,526,083 $ 1,599,864
EXPENSES
Compensation and Benefits $ 355,841 $ 313,145 $ 871,514 $ 982,637
Clearing Fees 43,252 37,386 127,546 125,129
Occupancy 34,669 33,269 104,013 121,261
Business Development 6,016 7,753 38,431 70,380
Interest 1,071 412 3,904 1,489
Communications 49,986 57,521 146,009 157,875
Other 30,298 67,366 220,792 173,734
---------- ----------- ------------ ------------
Total Expenses $ 521,132 $ 516,854 $ 1,512,209 $ 1,632,505
Profit / (Loss) Before Taxes $ 83,453 $ 24,860 $ 13,874 $ (32,641)
========== =========== ============ ============
Income Taxes:
Current Tax Expense - - - -
Benefit of Loss Carryover - - - -
---------- ----------- ------------ ------------
Net Profit / (Loss) $ 83,453 $ 24,860 $ 13,874 $ (32,641)
========== =========== ============ ============
Profit (Loss) per common share $ 0.00 $ 0.00 $ 0.00 $ (0.00)
========== =========== ============ ============
</TABLE>
<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.
Clark Melvin Securities Corporation
(Registrant)
By: _______________________
Irene M. Harr
Chief Financial Officer
Date: September 15, 1996
