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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 of 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) -- May 31, 1996
Bio-Dyne Corporation
(Exact name of registrant as specified in its charter)
Georgia 0-19562 58-1865733
(State or other (Commission (IRS Employee
jurisdiction of File Number) Identification No.)
incorporation)
5400 Bucknell Drive, SW
Atlanta, GA 30336
(Address of principal executive offices) (Zip Code)
Registrant's telephone number,
including area code (404) 346-3100
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Item 5. OTHER EVENTS
On August 23, 1996, two of the Registrant's subsidiaries discontinued
operations.
Home Fitness Studios, Inc. ("HFS"), based in Hollywood, Florida,
previously operated 8 retail fitness stores and had 20 full time and 15 part
time employees. For the fiscal year ended March 31, 1996, HFS had sales of
approximately $6,000,000 and a net loss of $200,000.
Carolina Fitness Equipment, Inc. ("Carolina"), based in Charlotte, North
Carolina, previously operated 9 retail fitness stores and had 20 full time and
20 part time employees. For the fiscal year ended March 31, 1996, Carolina had
sales of approximately $8,700,000 and a net loss of $845,000.
By discontinuing the operations of HFS and Carolina Fitness, management
expects to reduce on-going losses and enhance its cashflow.
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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.
Bio-Dyne Corporation
(Registrant)
Dated: August 28, 1996 By: /s/ Erik Bailey
__________________
Erik Bailey
Chief Financial Officer
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