SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934.
June 30, 1996
Date of Report (Date of earliest event reported)
CYCLO3PSS CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 0-22720 87-0455642
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State of Commission File No. IRS Employer
Incorporation Identification No.
3646 West 2100 South
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Salt Lake City, UT 84120
(Address of principal executive offices)
(801-972-9092
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(Registrant's telephone number)
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Item 5. Other Events
At May 31, 1996, the end of its first fiscal quarter, the Registrant
had capital and surplus ("Stockholders' Equity") of $628,832. Subsequent to
May 31, 1996 but prior to July 1, 1996, the Registrant raised additional
capital from the sale of its equity securities. On August 6, 1996, the
Registrant filed a Form 8-K to provide information about its financial position
at June 30, 1996. The NASDAQ Stock Market subsequently requested that the
Registrant amend such Form 8-K to include a Statement of Operations for the 30
day period ended June 30, 1996. Set forth below is an Unaudited Statement of
Operations for the 30 day period ending June 30, 1996 and an Unaudited,
Condensed Consolidated Balance Sheet of the Registrant at June 30, 1996.
In the opinion of management, the accompanying consolidated financial
statements contain all normal recurring adjustments necessary to present fairly
the financial position of Cyclo3pss Corporation as of June 30, 1996. The
operating results for the months end June 30, 1996 are not necessarily
indicative of the results for a quarter or a full year. The financial
statements herein should be read in conjunction with the Company's audited
financial statements for the year ended February 29, 1996.
STATEMENT OF OPERATIONS
(Unaudited)
For the month
ended
June 30, 1996
Net Revenues $9,579
Costs and expenses:
Cost of sales 40,801
Research and development 64,296
Selling and marketing 17,615
General and administrative 108,476
Depreciation and amortization 35,441
Total expenses 226,629
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Loss from operations (217,050)
Interest income 1,317
Interest expense (11,835)
________
Net loss $(227,568)
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[PAGE]
BALANCE SHEET
(Unaudited)
June 30
1996
Assets -------
Current assets:
Cash $1,149,860
Accounts receivable, net 58,352
Inventories 293,200
Prepaid expenses 8,280
---------
Total current assets 1,509,692
Property and equipment, net 523,090
Other assets:
Goodwill, net 692,699
Acquired patents, net 442,879
Developed patents and other, net 109,257
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$3,277,617
Liabilities and Stockholders' Equity ==========
Current liabilities:
Accounts payable 134,832
Accrued liabilities 101,067
Deferred revenue 230,249
Current portion of capital lease obligations 15,449
Total current liabilities 481,597
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Long-term debt obligations 1,287,630
Long term portion of capital lease obligations 54,626
Stockholders' equity:
Series "A" preferred stock, par value $.01; 4,500,000
shares authorized; 35,638 shares issued and outstanding 356
Series "B" preferred stock, par value $.01, at stated value;
30,000 shares authorized; 1,400 issued or outstanding 14
Class "A" preferred stock, par value $.01; 500,000 shares
authorized; none issued or outstanding ____
Common stock, par value $.001; 55,000,000 shares authorized;
10,524,338 shares issued 10,524
Additional paid-in capital 11,484,341
Accumulated deficit (9,539,926)
Less treasury stock, 264,000 common shares at cost (501,545)
---------
Total stockholders' equity 1,453,764
---------
$3,277,617
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[PAGE]
SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
Cyclo3pss Corporation
Date: August 15, 1996
By: /s/ John M. Williams
----------------------------------
John M. Williams
Chief Executive Officer
SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, as amended,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Cyclo3pss Corporation
Date: August 15, 1996
By: /s/ William Stoddard
----------------------------------
William Stoddard
President
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