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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): October 21, 1997
Calypte Biomedical Corporation
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(Exact name of registrant as specified in its charter)
Delaware 000-20985 06-1226727
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(State or other jurisdiction (Commission File (I.R.S. Identification
incorporation or organization) Number) Number)
1440 Fourth Street
Berkeley, California 94710
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(Address of principal executive offices) (Zip Code)
Registrant's telephone no, including area code: (510) 526-2541
NOT APPLICABLE
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(Former name or former address, if changed since last report)
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Item 5. OTHER EVENTS
Calypte Biomedical Corporation (the "Company") is filing this Current
Report on Form 8-K at the request of Nasdaq solely to demonstrate that the
Company maintains capital and surplus of at least $1,000,000 in compliance with
the requirements for continued listing on the Nasdaq Small Cap Market. The
Company is in compliance with all requirements for continued listing on the
Nasdaq Small Cap Market.
CAPITALIZATION
The following unaudited balance sheet sets forth the actual
capitalization of the Company at October 31, 1997 which includes the sale by the
Company on October 21, 1997 of 2,600,999 shares of Common Stock at a price of
$4.25 per share and the application of the net proceeds therefrom (after
deduction of commissions and estimated offering expenses).
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<CAPTION>
October 31, 1997
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Actual
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(in thousands, except share
and per share data)
<S> <C>
Current assets:
Cash and cash equivalents......................... $ 11,754
Inventory......................................... 248
Notes receivable from officers and employees...... 244
Other current assets.............................. 186
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Total current assets............................ 12,432
Property and equipment, net of accumulated
depreciation of $2,796 at October 31, 1997........ 1,243
Other assets........................................ 228
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$ 13,903
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Current liabilities:
Accounts payable.................................. $ 389
Accrued expenses.................................. 1,130
Capital lease obligations - current portion....... 434
Deferred revenue.................................. 573
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Total current liabilities....................... 2,526
Deferred rent obligation............................ 31
Capital lease obligations - long-term portion....... 393
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Total liabilities............................... 2,950
Mandatorily redeemable Series A Preferred
Stock, $0.001 par value; no shares
authorized, 100,000 shares issued
and outstanding; aggregate redemption
and liquidation value of $1,000 plus
cumulative dividends.............................. 1,956
Stockholders' equity (deficit):
Preferred Stock, $0.001 par value;
5,000,000 shares authorized; no
issued and outstanding, actual
and as adjusted................................. -
Common Stock, $0.001 par value; 20,000,000
shares authorized; 13,193,347 shares
issued and outstanding as of
October 31, 1997................................ 13
Additional paid-in capital........................ 56,499
Deferred compensation............................. (242)
Deficit accumulated during development stage...... (47,273)
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Total stockholders' equity (deficit)............ 8,997
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$ 13,903
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SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report on Form 8-K to be signed on its behalf by
the undersigned hereunto duly authorized.
CALYPTE BIOMEDICAL CORPORATION
Dated: November 25, 1997 By: /s/ John J. DiPietro
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John J. DiPietro
Vice President of Finance,
Chief Financial Officer and Secretary
