SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 10Q-SB/A
(Amendment No. 1)
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED:
JUNE 30, 1996 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. 0-18303
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LEASING EDGE CORPORATION
_________________________________________________________________
(Exact name of registrant as specified in its charter)
Delaware No. 11-2990598
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
6540 S. Pecos Road, Las Vegas, Nevada 89120
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(Address of principal executive offices) (Zip Code)
(702) 454-7900
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(Registrant's telephone number, including area code)
Indicate by check mark whether the registrant (1) has filed all
reports 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 [ ]
Applicable only to issuers involved in bankruptcy proceedings
during the preceding five years:
Indicate by check mark whether the registrant has filed all
documents and reports required to be filed by sections 12, 13 or
15(d) of the Securities Exchange Act of 1934 subsequent to the
distribution of securities under a plan confirmed by a court.
Yes [ ] No [ ]
Applicable only to corporate issuers:
Indicate the number of shares outstanding of each of the issuer's
classes of common stock as of the latest practicable date.
July 31, 1996: 3,756,319 common shares.
Traditional Small Business Disclosure Format (Check one): Yes [ ];
No [X]
LEASING EDGE CORPORATION AND SUBSIDIARIES
INDEX TO FORM 10-QSB/A
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PAGE
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PART I - FINANCIAL INFORMATION
Item 1. Financial Statements
Consolidated Balance Sheets - June 30, 1996 (Unaudited)
and December 31, 1995 3
Consolidated Statements of Operations - for the three
and six months ended June 30, 1996 and 1995 (Unaudited) 5
Consolidated Statements of Cash Flows - for the three and
and six months ended June 30, 1996 and 1995 (Unaudited) 6
Notes to Consolidated Financial Statements (Unaudited) 8
Item 2. Management's Discussion and Analysis of
Financial Condition and Results of Operations 11
PART II - OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K 16
(a) Exhibits
(b) Reports on Form 8-K
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PART II - OTHER INFORMATION
ITEM 6. Exhibits and Reports on Form 8-K
(a) Exhibits
11 Statement re Computation of Per Share
Earnings.
27 Financial Data Schedule.
(b) Reports on Form 8-K
None.
Signatures
Pursuant to the requirements of the Securities and Exchange Act of
1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.
LEASING EDGE CORPORATION
(Registrant)
Date: December 4, 1996 /s/Michael F. Daniels
Michael F. Daniels, President
and Chief Executive Officer
(Principal Executive Officer)
Date: December 4, 1996 /s/ William J. Vargas
William J. Vargas, V.P.- Finance
(Principal Financial and
Accounting Officer)
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 5
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-96
<PERIOD-END> JUN-30-1996
<CASH> 112,067
<SECURITIES> 0
<RECEIVABLES> 1,251,386
<ALLOWANCES> 95,322
<INVENTORY> 666,255
<CURRENT-ASSETS> 0
<FN-1> UNCLASSIFIED BALANCE SHEET
<PP&E> 447,468
<DEPRECIATION> 284,439
<TOTAL-ASSETS> 26,942,006
<CURRENT-LIABILITIES> 0
<FN-1> UNCLASSIFIED BALANCE SHEET
<BONDS> 3,441,064
0
2,290
<COMMON> 37,594
<OTHER-SE> 6,114,713
<TOTAL-LIABILITY-AND-EQUITY> 26,942,006
<SALES> 3,936,849
<TOTAL-REVENUES> 9,440,301
<CGS> 3,442,437
<TOTAL-COSTS> 7,863,731
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 83,322
<INTEREST-EXPENSE> 174,405
<INCOME-PRETAX> (147,461)
<INCOME-TAX> 0
<INCOME-CONTINUING> (147,461)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (147,461)
<EPS-PRIMARY> (0.07)
<EPS-DILUTED> 0
<FN-2> FULLY DILUTED EPS NOT PRESENTED
AS RESULT OF CALCULATION IS
ANTI-DILUTIVE
</TABLE>
