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U. S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB/A
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES AND EXCHANGE ACT OF 1934
For the quarterly period ended January 31, 1997
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[ ] 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. 0-24394
PENN OCTANE CORPORATION
(Exact name of registrant as specified in charter)
DELAWARE 52-1790357
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
5847 SAN FELIPE, SUITE 3420, HOUSTON, TX 77057
(Address of principal executive offices) (Zip Code)
(713) 952-5703
(Registrant's telephone number, including area code)
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 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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As of January 31, 1997, 5,205,000 shares of the Registrant's common stock
were outstanding.
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<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 thereunto duly authorized.
PENN OCTANE CORPORATION
Date: June 16, 1997 By: /S/ IAN T. BOTHWELL
----------------------
Ian T. Bothwell
Vice President and
Chief Financial Officer
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 5
<LEGEND>
The schedule contains summary financial information extracted from Penn Octane
Corporation form 10-Q quarterly report for the period ended January 31, 1997 and
is qualified in its entirety by reference to such financial statements.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1997
<PERIOD-END> JAN-31-1997
<CASH> 49,469
<SECURITIES> 0
<RECEIVABLES> 464,442
<ALLOWANCES> 0
<INVENTORY> 745,977
<CURRENT-ASSETS> 1,350,981
<PP&E> 4,216,221
<DEPRECIATION> 1,033,660
<TOTAL-ASSETS> 5,325,776
<CURRENT-LIABILITIES> 3,784,206
<BONDS> 0
0
2,700
<COMMON> 52,050
<OTHER-SE> 1,426,777
<TOTAL-LIABILITY-AND-EQUITY> 5,325,776
<SALES> 16,059,657
<TOTAL-REVENUES> 16,059,657
<CGS> 15,481,213
<TOTAL-COSTS> 15,481,213
<OTHER-EXPENSES> 893,200
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 123,506
<INCOME-PRETAX> (438,262)
<INCOME-TAX> 0
<INCOME-CONTINUING> (438,262)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (438,262)
<EPS-PRIMARY> (.08)
<EPS-DILUTED> (.08)
</TABLE>
