|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 1 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
February 10, 1999
Date of Report (date of earliest event reported)
DIGITAL BIOMETRICS, INC.
(Exact name of Registrant as Specified in Charter)
Delaware 0-18856 41-1545069
(State or Other Jurisdiction (Commission File No.) (IRS Employer ID No.)
of Incorporation)
5600 Rowland Road, Suite 205, Minnetonka, Minnesota 55343-4315
(Address of principal executive offices)
(612) 932-0888
(Registrant's telephone number, including area code)
1
<PAGE>
ITEM 5. OTHER EVENTS
DIGITAL BIOMETRICS, INC.
CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
<TABLE>
<CAPTION>
January 31, September 30,
1999 1998
------------ ------------
<S> <C> <C>
Current assets:
Cash and cash equivalents $ 1,215,959 $ 840,616
Accounts receivable, less allowance for doubtful accounts of $278,298
and $296,583, respectively 4,088,941 4,352,197
Inventory 2,587,139 2,848,421
Prepaid expenses and other costs 230,664 214,559
------------ ------------
Total current assets 8,122,703 8,255,793
------------ ------------
Property and equipment 2,491,321 2,410,172
Less accumulated depreciation and amortization (1,500,224) (1,355,161)
------------ ------------
991,097 1,055,011
------------ ------------
Patents, trademarks, copyrights and licenses, net of accumulated
amortization of $95,677 and $100,656, respectively 30,712 35,785
Deferred issuance costs on convertible debentures, net of accumulated
amortization of $41,773 and $29,648, respectively 62,102 71,872
------------ ------------
$ 9,206,614 $ 9,418,461
============ ============
Current liabilities:
Accounts payable $ 1,149,429 $ 1,783,086
Line of credit advances 472,874 111,962
Accrued warranty 328,173 385,422
Deferred revenue 982,841 918,291
Other accrued expenses 1,171,899 1,239,011
Current installments of capital lease obligations 35,562 34,620
------------ ------------
Total current liabilities 4,140,778 4,472,392
Capital lease obligations, less current installments 98,605 113,117
Convertible debentures 734,958 884,840
------------ ------------
Total liabilities 4,974,341 5,470,349
------------ ------------
Stockholders' equity:
Common Stock, $.01 par value. Authorized, 40,000,000 shares; issued
and outstanding 14,794,636 and 13,661,832 shares, respectively 147,946 136,618
Additional paid-in capital 45,581,275 44,114,225
Deferred compensation (71,500) (91,500)
Accumulated deficit (41,425,448) (40,211,231)
------------ ------------
Total stockholders' equity 4,232,273 3,948,112
------------ ------------
$ 9,206,614 $ 9,418,461
============ ============
</TABLE>
2
<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 hereunto duly authorized.
DIGITAL BIOMETRICS, INC.
Dated: February 10, 1999 By: /s/ John J. Metil
--------------------------------
John J. Metil
Executive Vice President,
Chief Operating Officer and
Chief Financial Officer
3
|
|