<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB
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: March 31, 1996
[ ] 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. 0-4410.
TELECOMM INDUSTRIES CORP.
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(Exact name of Issuer as specified in its charter)
Delaware 06-0844558
- ------------------------------- --------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
9310 Progress Parkway
Mentor, Ohio 44060
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(Address of principal executive offices)
216-953-1400
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(Issuer's telephone number)
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(Former name, former address and former fiscal year,
if changed since last report)
Indicate by check mark whether the issuer (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act
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
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Indicate the number of shares outstanding of each of the issuer's classes
of common equity, as of March 31, 1996: 9,607,791.
Transitional Small Business Disclosure Format:
Yes No X
--- ---
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PART II - OTHER INFORMATION
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
A. Exhibit 27. Financial Data Schedule
B. Reports on Form 8-K
On February 8, 1996, the Registrant filed a Current Report on a Form 8-K
dated January 25, 1996 relating to the acquisition of Seraphim Information
Systems, Inc. An Amendment to the Current Report was filed on March 24, 1996
containing Seraphim's financial statements and pro forma financial information
of the Registrant for the required periods.
SIGNATURES
In accordance with the Exchange Act, the registrant caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized.
TELECOMM INDUSTRIES CORP.
(Registrant)
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Andrew G. Gorogiani
President
Date: June 28, 1996 (Chief Executive Officer)
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Frank Campanale
Treasurer
(Chief Accounting Officer and Chief
Date: June 28, 1996 Financial Officer)
Page 14 of 14
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EXHIBIT INDEX
Exhibit 27 Financial Data Schedule
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> MAR-31-1996
<CASH> 488,746
<SECURITIES> 0
<RECEIVABLES> 1,952,678
<ALLOWANCES> 0
<INVENTORY> 226,449
<CURRENT-ASSETS> 2,453,357
<PP&E> 444,295
<DEPRECIATION> 158,409
<TOTAL-ASSETS> 3,343,638
<CURRENT-LIABILITIES> 984,806
<BONDS> 0
0
0
<COMMON> 96,078
<OTHER-SE> 1,962,082
<TOTAL-LIABILITY-AND-EQUITY> 3,343,638
<SALES> 0
<TOTAL-REVENUES> 1,930,762
<CGS> 0
<TOTAL-COSTS> 660,812
<OTHER-EXPENSES> 1,030,317
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 7,739
<INCOME-PRETAX> 244,947
<INCOME-TAX> 95,000
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 149,947
<EPS-PRIMARY> .016
<EPS-DILUTED> 0
</TABLE>
