<PAGE> 1
================================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
------------------------
FORM 10-KSB/A
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1996
COMMISSION FILE NUMBER 0-19589
------------------------
CONCEPTRONIC, INC.
(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C>
DELAWARE 02-0413153
(State or other Jurisdiction of (I.R.S. Employer
Incorporation or organization) Identification Number)
</TABLE>
ONE CHURCH STREET,
SUITE 302,
ROCKVILLE, MARYLAND
(Address of Principal executive offices)
20850
(Zip Code)
------------------------
(301) 315 - 0027
(Registrant's telephone number including area code)
------------------------
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE EXCHANGE ACT: NONE
SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE EXCHANGE ACT:
Title of Class
COMMON STOCK, $.01 PAR VALUE
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 as amended, during the preceding 12 months (or 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 __
Check if there is no disclosure of delinquent filers in response to Item
405 of Regulation S-B is not contained in this form, and no disclosure will be
contained, to the best of registrant's knowledge, in definitive proxy of
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this Form 10-KSB. X
State issuer's revenues for its most recent fiscal year. $15,653,000
As of March 19, 1997, 3,271,326 shares of Common Stock, $ .01 par value per
share and 4,000,000 shares of Class A Common Stock, $ .01 par value per share,
were outstanding. The aggregate market value of the shares of Common Stock, held
by non-affiliates, based upon the closing price for such stock on March 19, 1997
was approximately $8,542,856.
DOCUMENTS INCORPORATED BY REFERENCE
The Company's definitive proxy statement for its Annual Meeting of
Stockholders to be held May 9, 1997 is incorporated by reference into Part III
hereof.
================================================================================
<PAGE> 2
CONCEPTRONIC, INC.
BALANCE SHEETS
DECEMBER 31, 1996 AND 1995
<TABLE>
<CAPTION>
1996 1995
----------- -----------
<S> <C> <C>
ASSETS
Current assets:
Cash......................................................... $10,317,822 10,101
Accounts receivable, trade, net of allowance for doubtful
accounts of $50,000 and $75,000 in 1996 and 1995,
respectively (note 13)...................................... 2,917,016 2,830,146
Inventories (note 3)......................................... 4,133,367 3,240,066
Other current assets......................................... 338,834 135,950
----------- ----------
Total current assets.................................... 17,707,039 6,216,263
----------- ----------
Property, plant and equipment (notes 4 and 5)..................... 2,525,386 2,428,917
Less accumulated depreciation................................ 1,132,484 907,002
----------- ----------
Property, plant and equipment, net...................... 1,392,902 1,521,915
----------- ----------
Purchased software costs, net..................................... -- 48,040
Licensing rights, net............................................. 7,381 28,571
----------- ----------
$19,107,322 7,814,789
=========== ==========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt (note 5)................... $ 48,000 43,000
Short-term borrowings (note 6)............................... -- 844,605
Accounts payable............................................. 1,478,734 1,167,875
Accrued expenses and other liabilities....................... 1,771,041 858,081
Deferred income.............................................. -- 48,488
----------- ----------
Total current liabilities............................... 3,297,775 2,962,049
----------- ----------
Long-term debt, excluding current portion (note 5)................ 1,037,937 1,086,850
----------- ----------
Total liabilities....................................... 4,335,712 4,048,899
----------- ----------
Commitments and contingencies (notes 9 and 10)
Stockholders' equity (note 8):
Preferred stock, $.01 par value. Authorized 1,000,000 shares;
no shares issued and outstanding............................ -- --
Common stock, $.01 par value. Authorized 15,000,000 shares... 57,000 17,000
Additional paid-in capital................................... 16,077,467 5,199,747
Accumulated deficit.......................................... (1,362,857) (1,450,857)
----------- ----------
Total stockholders' equity.............................. 14,771,610 3,765,890
----------- ----------
$19,107,322 7,814,789
=========== ==========
</TABLE>
See accompanying notes to financial statements.
15
<PAGE> 3
SIGNATURES
Pursuant to the requirements of Section 13 or 15 (d) of the Securities
Exchange Act of 1934, the registrant has duly caused this amended report to be
signed on its behalf by the undersigned, thereunto duly authorized.
CONCEPTRONIC, INC
BY: /s/ WILLIAM D. GRAY
----------------------------------
WILLIAM D. GRAY
PRINCIPAL FINANCIAL OFFICER
3
