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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
AMENDMENT NO. 1
FORM 10-KSB
Mark One:
[X] Annual Report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934. For the fiscal year ended December 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 NO. 0-18754
BLACK WARRIOR WIRELINE CORP.
- --------------------------------------------------------------------------------
(Name of Small Business Issuer in its Charter)
DELAWARE 11-2904094
- --------------------------------------------------------------------------------
(State or Other Jurisdiction of (IRS Employer
Incorporation or Organization) Identification No.)
3748 HIGHWAY #45 NORTH, COLUMBUS, MISSISSIPPI 39701
- --------------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
(601) 329-1047
- --------------------------------------------------------------------------------
(Issuer's Telephone Number, Including Area Code)
Securities Registered Pursuant to Section 12(b) of the Exchange Act: NONE
Securities Registered Pursuant to Section 12(g) of the Exchange Act:
(Title of Each Class)
COMMON STOCK, PAR VALUE $.0005 PER SHARE
Check whether the Issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past twelve (12) months (or for such
shorter period that the Issuer was required to file such reports), and (2) has
been subject to such filing requirements for the past ninety (90) days. [X] Yes
[ ] No
Check if there is no disclosure of delinquent filers in response to Item 405 of
Regulation S-B in this form, and no disclosure will be contained, to the best of
Issuer's knowledge, in definitive proxy or information statements incorporated
by reference in Part III of this Form 10-KSB, or any amendment to this Form
10-KSB. [X]
State Issuer's revenues for its most recent fiscal year: $34,436,553
State the aggregate market value of the voting stock held by non-affiliates
as of March 31, 1999:
COMMON STOCK, PAR VALUE $.0005 PER SHARE, $3,966,694
(Non-affiliates have been determined on the basis of holdings set forth
under Item 11 of this Annual Report on Form 10-KSB.)
Indicate the number of shares outstanding of each of the Issuer's classes
of common equity, as of the latest practicable date:
Class: COMMON STOCK, PAR VALUE $.0005 PER SHARE
Outstanding at March 31, 1999: 3,942,831 SHARES
DOCUMENTS INCORPORATED BY REFERENCE
No documents are incorporated by reference into this Annual Report on Form
10-KSB
Transitional Small Business Issuer Format: [ ] Yes [X] No
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<PAGE>
ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits
The Exhibits required by Regulation S-B are set forth in the following
list and are filed either by incorporation by reference from previous filings
with the Securities and Exchange Commission or by attachment to this Annual
Report on Form 10-KSB as so indicated in such list.
Exhibit Designation
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27 Financial Data Schedule.
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
Dated: May 11, 1999
BLACK WARRIOR WIRELINE CORP.
By: /s/ William L Jenkins
-----------------------------
William L. Jenkins, President
Pursuant to the requirements of the Securities Exchange Act of 1934, this
Report has been signed below by the following persons on behalf of the
Registrant and in the capacities and on the dates indicated.
<TABLE>
<CAPTION>
Signature Capacity Date
- --------- -------- ----
<S> <C> <C>
/s/ William L. Jenkins President (Principal Executive, May 11, 1999
- --------------------------- Financial and Accounting Officer)
William L. Jenkins and Director
/s/ John L. Thomspon Director May 11, 1999
- ---------------------------
John L. Thompson
/s/ Charles E. Underbrink Director May 11, 1999
- ---------------------------
Charles E. Underbrink
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<MULTIPLIER> 1
<CURRENCY> US DOLLARS
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> DEC-31-1998
<EXCHANGE-RATE> 1
<CASH> 1,041,242
<SECURITIES> 50,000
<RECEIVABLES> 3,596,004
<ALLOWANCES> 2,157,421
<INVENTORY> 4,278,601
<CURRENT-ASSETS> 5,532,910
<PP&E> 31,615,494
<DEPRECIATION> 8,986,893
<TOTAL-ASSETS> 36,814,850
<CURRENT-LIABILITIES> 48,151,206
<BONDS> 0
0
0
<COMMON> 1,948
<OTHER-SE> (583,393)
<TOTAL-LIABILITY-AND-EQUITY> 36,814,850
<SALES> 0
<TOTAL-REVENUES> 34,436,553
<CGS> 0
<TOTAL-COSTS> 42,754,290
<OTHER-EXPENSES> (216,934)
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 2,867,575
<INCOME-PRETAX> (22,068,378)
<INCOME-TAX> (1,051,698)
<INCOME-CONTINUING> (21,016,680)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (21,016,680)
<EPS-PRIMARY> (5.86)
<EPS-DILUTED> (5.86)
</TABLE>
