FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 28, 1998
THC HOMECARE, INC.
(Exact name of registrant as specified in its charter)
Utah 1-11534 48-1092064
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation or
organization)
3261 S. Highland Drive, Suite 613,
Las Vegas, Nevada 89109
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (702) 796-1016
<PAGE>INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events.
Monthly Financial Information. The Company is required to file unaudited
monthly financial statements with the Bankruptcy Court. Such financial
statements for the periods from November 1 to November 30, 1997, December 1 to
December 31, 1998, January 1 to January 31, 1998, February 1 to February 28,
1998, March 1 to March 31, 1998, April 1 to April 30, 1998, May 1 to May 31,
1998, and June 1 to June 30, 1998 (together the "Financial Statements") are
attached hereto as Exhibits 28.1 to 28.8 respectively, and are incorporated
herein by reference. The Financial Statements are filed with the Bankruptcy
Court on a limited informational basis, are unaudited, and do not include all
of the information and disclosures required by generally accepted accounting
principles for complete financial statements. The results of operations for
the Financial Statements are not necessarily indicative of results of
operations for a full year.
Item 7. Financial Statements and Exhibits.
Exhibits
See the Index to Exhibits which is incorporated herein by reference.
<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.
THC HOMECARE, INC.
By: /s/ Charles McLaughlin
Charles McLaughlin, Chairman of the Board of Directors
Date: August 18, 1998
<PAGE>INDEX TO EXHIBITS
Exhibit No. Description of Exhibits
28.1 Unaudited Balance Sheet of the Company Filed Herewith
for the period from November 1 to
November 30, 1997, as filed with the
Bankruptcy Court on July 28, 1998
28.2 Unaudited Balance Sheet of the Company Filed Herewith
for the period from December 1 to
December 31, 1997, as filed with the
Bankruptcy Court on July 28, 1998
28.3 Unaudited Balance Sheet of the Company Filed Herewith
for the period from January 1 to
January 31, 1998, as filed with the
Bankruptcy Court on July 28, 1998
28.4 Unaudited Balance Sheet of the Company Filed Herewith
for the period from February 1 to
February 28, 1998, as filed with the
Bankruptcy Court on July 28, 1998
28.5 Unaudited Balance Sheet of the Company Filed Herewith
for the period from March 1 to March 31,
1998, as filed with the Bankruptcy Court
on July 28, 1998
28.6 Unaudited Balance Sheet of the Company Filed Herewith
for the period from April 1 to April 30,
1998, as filed with the Bankruptcy
Court on July 28, 1998
28.7 Unaudited Balance Sheet of the Company Filed Herewith
for the period from May 1 to May 31,
1998, as filed with the Bankruptcy
Court on July 28, 1998
28.8 Unaudited Balance Sheet of the Company Filed Herewith
for the period from June 1 to June 30,
1998, as filed with the Bankruptcy
Court on July 28, 1998
<TABLE>
THC HOMECARE (CONSOLIDATED)
BALANCE SHEET
11/30/97
ASSETS
<S> <C> <C>
CURRENT ASSETS:
Cash 771,747.93
Trade Accounts Receivable 0.00
Reserve for Bad Debt 0.00
Inventories (Net) 0.00
Total Current Assets 0.00
RENTAL EQUIPMENT (NET) 0.00
PROPERTY AND EQUIPMENT (NET) 0.00
DEPOSITS 0.00
INTERCOMPANY 0.00
TOTAL ASSETS 771,747.93
CURRENT LIABILITIES: 377,179.11
Current Portion L/T Debt 57,244.16
Accounts Payable 2,599,871.44
Accrued Liabilities 254,576.28
Total Current Liabilities 3,288,870.99
LONG - TERM DEBT, Net of Current 817,818.13
LONG-TERM DEBT RELATED PARTY 131,463.21
OTHER LIABILITIES 49,050.00
STOCKHOLDER'S EQUITY:
Common Stock 4,047.40
Additional Paid-In
Capital 1,830,225.38
Common Stock
Warrants/Options 668,104.40
Accumulated Deficit (6,017,831.58)
Total Stockholder's Equity (3,515,454.40)
TOTAL LIABILITIES & S/H EQUITY 771,747.93
</TABLE>
<TABLE>
THC HOMECARE (CONSOLIDATED)
BALANCE SHEET
12/31/97
ASSETS
<S> <C> <C>
CURRENT ASSETS:
Cash 598,721.96
Trade Accounts Receivable 0.00
Reserve for Bad Debt 0.00
Inventories (Net) 0.00
Total Current Assets 0.00
RENTAL EQUIPMENT (NET) 0.00
PROPERTY AND EQUIPMENT (NET) 0.00
DEPOSITS 0.00
INTERCOMPANY 0.00
TOTAL ASSETS 598,721.96
CURRENT LIABILITIES: 377,179.11
Current Portion L/T Debt 57,244.16
Accounts Payable 2,599,871.44
Accrued Liabilities 79,576.28
Total Current Liabilities 3,113,870.99
LONG - TERM DEBT, Net of Current 817,818.13
LONG-TERM DEBT RELATED PARTY 131,463.21
OTHER LIABILITIES 49,050.00
STOCKHOLDER'S EQUITY:
Common Stock 4,047.40
Additional Paid-In
Capital 1,830,225.38
Common Stock
Warrants/Options 668,104.40
Accumulated Deficit (6,015,857.55)
Total Stockholder's Equity (3,513,480.37)
TOTAL LIABILITIES & S/H EQUITY 598,721.96
</TABLE>
<TABLE>
THC HOMECARE (CONSOLIDATED)
BALANCE SHEET
1/31/98
ASSETS
<S> <C> <C>
CURRENT ASSETS:
Cash 198,958.90
Trade Accounts Receivable 0.00
Reserve for Bad Debt 0.00
Inventories (Net) 0.00
Total Current Assets 0.00
RENTAL EQUIPMENT (NET) 0.00
PROPERTY AND EQUIPMENT (NET) 0.00
DEPOSITS 0.00
INTERCOMPANY 0.00
TOTAL ASSETS 198,958.90
CURRENT LIABILITIES:
Current Portion L/T Debt 57,244.16
Accounts Payable 2,572,050.55
Accrued Liabilities 79,576.28
Total Current Liabilities 2,708,870.99
LONG - TERM DEBT, Net of Current 817,818.13
LONG-TERM DEBT RELATED PARTY 131,463.21
OTHER LIABILITIES 49,050.00
STOCKHOLDER'S EQUITY:
Common Stock 4,047.40
Additional Paid-In
Capital 1,830,225.38
Common Stock
Warrants/Options 668,104.40
Accumulated Deficit (6,010,620.61)
Total Stockholder's Equity (3,508,243.43)
TOTAL LIABILITIES & S/H EQUITY 198,958.90
</TABLE>
<TABLE>
THC HOMECARE (CONSOLIDATED)
BALANCE SHEET
2/28/98
ASSETS
<S> <C> <C>
CURRENT ASSETS:
Cash 192,922.94
Trade Accounts Receivable 0.00
Reserve for Bad Debt 0.00
Inventories (Net) 0.00
Total Current Assets 0.00
RENTAL EQUIPMENT (NET) 0.00
PROPERTY AND EQUIPMENT (NET) 0.00
DEPOSITS 0.00
INTERCOMPANY 0.00
TOTAL ASSETS 192,922.94
CURRENT LIABILITIES:
Current Portion L/T Debt 50,347.16
Accounts Payable 2,572,050.55
Accrued Liabilities 79,576.28
Total Current Liabilities 2,701,973.99
LONG - TERM DEBT, Net of Current 817,818.13
LONG-TERM DEBT RELATED PARTY 131,463.21
OTHER LIABILITIES 49,050.00
STOCKHOLDER'S EQUITY:
Common Stock 4,047.40
Additional Paid-In
Capital 1,830,225.38
Common Stock
Warrants/Options 668,104.40
Accumulated Deficit (6,009,759.57)
Total Stockholder's Equity (3,507,382.94)
TOTAL LIABILITIES & S/H EQUITY 192,922.94
</TABLE>
<TABLE>
THC HOMECARE (CONSOLIDATED)
BALANCE SHEET
3/31/98
ASSETS
<S> <C> <C>
CURRENT ASSETS:
Cash 193,557.40
Trade Accounts Receivable 0.00
Reserve for Bad Debt 0.00
Inventories (Net) 0.00
Total Current Assets 0.00
RENTAL EQUIPMENT (NET) 0.00
PROPERTY AND EQUIPMENT (NET) 0.00
DEPOSITS 0.00
INTERCOMPANY 0.00
TOTAL ASSETS 193,557.40
CURRENT LIABILITIES:
Current Portion L/T Debt 50,347.16
Accounts Payable 2,572,050.55
Accrued Liabilities 79,576.28
Total Current Liabilities 2,701,973.99
LONG - TERM DEBT, Net of Current 817,818.13
LONG-TERM DEBT RELATED PARTY 131,463.21
OTHER LIABILITIES 49,050.00
STOCKHOLDER'S EQUITY:
Common Stock 4,047.40
Additional Paid-In
Capital 1,830,225.38
Common Stock
Warrants/Options 668,104.40
Accumulated Deficit (6,009,125.11)
Total Stockholder's Equity (3,506,747.93)
TOTAL LIABILITIES & S/H EQUITY 193,557.40
</TABLE>
<TABLE>
THC HOMECARE (CONSOLIDATED)
BALANCE SHEET
4/30/98
ASSETS
<S> <C> <C>
CURRENT ASSETS:
Cash 163,417.88
Trade Accounts Receivable 0.00
Reserve for Bad Debt 0.00
Inventories (Net) 0.00
Total Current Assets 0.00
RENTAL EQUIPMENT (NET) 0.00
PROPERTY AND EQUIPMENT (NET) 0.00
DEPOSITS 0.00
INTERCOMPANY 0.00
TOTAL ASSETS 163,417.88
CURRENT LIABILITIES:
Current Portion L/T Debt 50,347.16
Accounts Payable 2,572,050.55
Accrued Liabilities 79,576.28
Total Current Liabilities 2,701,973.99
LONG - TERM DEBT, Net of Current 817,818.13
LONG-TERM DEBT RELATED PARTY 131,463.21
OTHER LIABILITIES 49,050.00
STOCKHOLDER'S EQUITY:
Common Stock 4,047.40
Additional Paid-In
Capital 1,830,225.38
Common Stock
Warrants/Options 668,104.40
Accumulated Deficit (6,039,264.63)
Total Stockholder's Equity (3,536,887.45)
TOTAL LIABILITIES & S/H EQUITY 163,417.88
</TABLE>
<TABLE>
THC HOMECARE (CONSOLIDATED)
BALANCE SHEET
5/31/98
ASSETS
<S> <C> <C>
CURRENT ASSETS:
Cash 64,946.01
Trade Accounts Receivable 0.00
Reserve for Bad Debt 0.00
Inventories (Net) 0.00
Total Current Assets 0.00
RENTAL EQUIPMENT (NET) 0.00
PROPERTY AND EQUIPMENT (NET) 0.00
DEPOSITS 0.00
INTERCOMPANY 0.00
TOTAL ASSETS 64,946.01
CURRENT LIABILITIES:
Current Portion L/T Debt 50,347.16
Accounts Payable 2,572,050.55
Accrued Liabilities 79,576.28
Total Current Liabilities 2,701,973.99
LONG - TERM DEBT, Net of Current 817,818.13
LONG-TERM DEBT RELATED PARTY 131,463.21
OTHER LIABILITIES 49,050.00
STOCKHOLDER'S EQUITY:
Common Stock 4,047.40
Additional Paid-In
Capital 1,830,225.38
Common Stock
Warrants/Options 668,104.40
Accumulated Deficit (6,137,736.50)
Total Stockholder's Equity (3,635,359.32)
TOTAL LIABILITIES & S/H EQUITY 64,946.01
</TABLE>
<TABLE>
THC HOMECARE (CONSOLIDATED)
BALANCE SHEET
6/30/98
ASSETS
<S> <C> <C>
CURRENT ASSETS:
Cash 63,770.99
Trade Accounts Receivable 0.00
Reserve for Bad Debt 0.00
Inventories (Net) 0.00
Total Current Assets 0.00
RENTAL EQUIPMENT (NET) 0.00
PROPERTY AND EQUIPMENT (NET) 0.00
DEPOSITS 0.00
INTERCOMPANY 0.00
TOTAL ASSETS 63,770.99
CURRENT LIABILITIES:
Current Portion L/T Debt 50,347.16
Accounts Payable 2,572,050.55
Accrued Liabilities 79,576.28
Total Current Liabilities 2,701,973.99
LONG - TERM DEBT, Net of Current 817,818.13
LONG-TERM DEBT RELATED PARTY 131,463.21
OTHER LIABILITIES 49,050.00
STOCKHOLDER'S EQUITY:
Common Stock 4,047.40
Additional Paid-In
Capital 1,830,225.38
Common Stock
Warrants/Options 668,104.40
Accumulated Deficit (6,138,911.52)
Total Stockholder's Equity (3,636,534.34)
TOTAL LIABILITIES & S/H EQUITY 63,770.99
</TABLE>
