U.S. Securities and Exchange Commission
Washington, D. C. 20549
FORM 10-QSB
(Mark One)
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 1995
OR
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
EXCHANGE ACT
For the transition period from to
------- -------
Commission file number 0-17321
HITOX CORPORATION OF AMERICA
(Exact name of small business issuer as specified in its charter)
Delaware 74-2081929
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
Furman Plaza Building
418 Peoples Street, Corpus Christi, Texas 78401
(Address of principal executive offices)
Issuer's telephone number: (512) 882-5175
None
(Former name, former address and former fiscal
year, if changed since last report)
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 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 [ ]
State the number of shares outstanding of each of the issuer's classes of
common equity, as of the latest practicable date.
Common Stock, $0.25 par value 3,656,787
(Class) (Outstanding as of April 30, 1995)
Transitional Small Business Disclosure Format (check one):
Yes [ ] No [ X ]
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PART II
Item 6. Exhibits and Reports on Form 8-K
Page No.
--------
(a) Exhibit 4.1 - Form of Second Amendment to the Note Purchase
Agreement covering the Convertible Subordinated Debenture
of the Company dated February 28, 1995 14
Exhibit 4.2 - Form of Warrant Agreement for issuance of
50,000 warrants dated September 30, 1994 24
Exhibit 4.3 - Form of Warrant Agreement for issuance of
50,000 warrants dated February 28, 1995 35
Exhibit 4.4 - Form of Warrant Agreement for issuance of
1,111,111 warrants dated February 28, 1995 46
Exhibit 11 - Earnings Per Share 57
Exhibit 27 - Financial Data Schedule 58
(b) Reports on Form 8-K: None
Signature
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.
Hitox Corporation of America
- -----------------------------------
(Registrant)
Date: June 26, 1995 THOMAS A. LANDSHOF
------------- -----------------------------------
Thomas A. Landshof, President
and Chief Executive Officer
Date: June 26, 1995 CRAIG A. SCHKADE
------------- -----------------------------------
Craig A. Schkade, Chief Financial
Officer (Principal Financial and
Accounting Officer)
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<TABLE> <S> <C>
<ARTICLE> 5
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> MAR-31-1995
<CASH> $479
<SECURITIES> 0
<RECEIVABLES> 1384
<ALLOWANCES> 0
<INVENTORY> 3090
<CURRENT-ASSETS> 5088
<PP&E> 8922
<DEPRECIATION> 4240
<TOTAL-ASSETS> $9984
<CURRENT-LIABILITIES> $2056
<BONDS> 5000
<COMMON> 936
0
0
<OTHER-SE> 1992
<TOTAL-LIABILITY-AND-EQUITY> $9984
<SALES> $2668
<TOTAL-REVENUES> 2692
<CGS> 1911
<TOTAL-COSTS> 1911
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 171
<INCOME-PRETAX> 103
<INCOME-TAX> 0
<INCOME-CONTINUING> 103
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> $103
<EPS-PRIMARY> $0.03
<EPS-DILUTED> $0.03
</TABLE>