U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB/A
AMENDMENT No. 1
(Mark One)
(X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended: August 31, 1996
( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from______ to______
Commission file number 0-21320
Magna-Lab Inc.
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(Exact name of small business issuer as specified in its charter)
New York 11-3074326
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(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
250Z Executive Drive, Edgewood, NY 11717
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(Address of principal executive offices)
(516) 595-2111
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(Issuer's telephone number)
_________________________________________________________
(Former name, former address and former fiscal year,
if changed since last report)
Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 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 ( )
APPLICABLE ONLY TO CORPORATE ISSUERS
State the number of shares outstanding of each of the issuer's classes of common
equity as of the latest practicable date - September 17, 1996
Class A Common Stock, $.001 Par Value 3,746,185
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Class B Common Stock, $.001 Par Value 1,843,815
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Class Shares
Transitional Small Business Disclosure Format (check one) Yes ( ) No (X)
<PAGE>
Item 6. - Exhibits and Reports on Form 8-K
(a) Exhibits
Exhibit No.
(11) Statement re: computation of loss per share - A statement
regarding the computation of loss per share is omitted because
computation can be clearly determined from the material contained
in this Quarterly Report on Form 10-QSB.
(27) Financial Data Schedule
(b) Reports on Form 8-K - NONE
2
<PAGE>
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
MAGNA-LAB INC.
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(Registrant)
Date: November 4, 1996 By: /s/ Lawrence A. Minkoff
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Lawrence A. Minkoff, Chairman of the Board of
Directors, Chief Executive Officer and President
(Principal Executive Officer)
Date: November 4, 1996 By: /s/ Kenneth C. Riscica
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Kenneth C. Riscica, Vice President - Finance and
Chief Financial Officer; Treasurer and Assistant
Secretary (Principal Financial and Accounting
Officer)
3
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Form 10-QSB
and is qualified in its entirety by reference to such financial statements.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> FEB-28-1997
<PERIOD-START> MAR-01-1996
<PERIOD-END> AUG-31-1996
<CASH> 1,107,000
<SECURITIES> 0
<RECEIVABLES> 307,000
<ALLOWANCES> 0
<INVENTORY> 491,000
<CURRENT-ASSETS> 2,307,000
<PP&E> 801,000
<DEPRECIATION> 324,000
<TOTAL-ASSETS> 2,799,000
<CURRENT-LIABILITIES> 1,689,000
<BONDS> 0
0
0
<COMMON> 13,330,000
<OTHER-SE> (12,258,000)
<TOTAL-LIABILITY-AND-EQUITY> 2,799,000
<SALES> 400,000
<TOTAL-REVENUES> 650,000
<CGS> 259,000
<TOTAL-COSTS> 814,000
<OTHER-EXPENSES> (13,000)
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 0
<INCOME-TAX> 0
<INCOME-CONTINUING> (410,000)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (410,000)
<EPS-PRIMARY> (0.09)
<EPS-DILUTED> (0.09)
</TABLE>
