SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
May 13, 1995
CARACO PHARMACEUTICAL LABORATORIES, LTD.
Exact Name of Registrant as Specified in Charter
Michigan 0-24676 38-25-5723
(State or Other Jurisdiction Commission File No. IRS Employer ID No.
of Incorporation)
1150 Elijah McCoy Drive, Detroit, MI 48202
(Address of Principal Executive Offices)
Registrant's Telephone No.: (313) 871-8400
The Exhibit Index is located on page 3.
The total number of pages is 4.<PAGE>
ITEM 5. OTHER EVENTS.
On May 13, 1996 the Company sold privately to one (1)
investor an aggregate of 44,444 shares of common stock for
aggregate consideration of $99,999 in cash for a per share
equivalent to $2.25. These shares were not registered under the
Securities Act of 1933 in reliance upon the exemption from
registration afforded by Section 4(2) of that Act.
On May 31, 1996 the Company sold privately to one (1) investor
an aggregate of 250,000 shares of common stock for aggregate
consideration of $500,000 in cash for a per share equivalent to
$2.00. These shares were not registered under the Securities Act
of 1933 in reliance upon the exemption from registration afforded
by Section 4(2) of that Act.
The offerings were completed without an underwriter.
Attached hereto, as Exhibit A, is a Pro Forma Balance Sheet as
of March 31, 1996 giving retroactive effect to the Company's May
private sales and issuance of 294,444 shares of common stock.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Company has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
CARACO PHARMACEUTICAL LABORATORIES, LTD.
/s/Allan J. Hammer
Allan J. Hammer
Chief Financial Officer
(A duly authorized signatory
of the Company)
DATED: June 3, 1996<PAGE>
EXHIBIT INDEX
Exhibit Table
Number Exhibit Page
99 Exhibit A - Pro Forma Balance Sheet 4
as of March 31, 1996
<PAGE>
CARACO PHARMACEUTICAL LABORATORIES
PRO FORMA BALANCE SHEET
(Unaudited)
PRO FORMA
MARCH 31, PRO FORMA MARCH 31,
1996 ADJUST 1996
--------- --------- ----------
Cash 198,909 600,000 798,909
Marketable Securities 128,739 128,739
Receivables
Trade 183,008 183,008
Inventories 288,024 288,024
Prepaid expenses and deposits 119,365 119,365
Subscription receivable 1,288,000 1,288,000
---------- ------- ----------
Total current assets 2,206,045 600,000 2,806,045
---------- ------- ----------
PROPERTY, PLANT AND EQUIPMENT -
AT COST
Building and improvements 6,682,724 6,682,724
Equipment 3,795,087 3,795,087
Furniture and fixtures 156,909 156,909
---------- ------- ----------
10,634,720 0 10,634,720
LESS: ACCUMULATED DEPRECIATION (1,970,972) (1,970,972)
---------- ------- ----------
8,663,748 0 8,663,748
Land 197,305 197,305
---------- ------- ----------
Total assets 11,067,098 600,000 11,667,098
========== ======= ==========
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Note payable 475,833 475,833
Accounts payable 1,228,979 1,228,979
Accrued other 147,000 147,000
Accrued interest 218,988 218,988
---------- ------- ----------
Total current liabilities 2,070,800 0 2,070,800
---------- ------- ----------
Long-term obligations 8,524,167 8,524,167
STOCKHOLDER' EQUITY
Preferred stock 1,000,000 1,000,000
Common Stock 19,084,574 600,000 19,684,574
Subscription receivable (14,087) (14,087)
Beginning deficit (19,437,432) (19,437,432)
Unrealized loss on
Marketable Securities (160,924) (160,924)
---------- ------- ----------
472,131 600,000 1,072,131
---------- ------- ----------
Total liab. and
stockholders' equity 11,067,098 600,000 11,667,098
========== ======= ==========<PAGE>
