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Previous: NUVEEN MISSOURI PREMIUM INCOME MUNICIPAL FUND, NSAR-B, 1999-08-03 |
Next: EMERGING MARKETS INCOME FUND II INC, NSAR-B, 1999-08-03 |
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
--------------
FORM 8-K/A-1
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) July 15, 1998
Modern Medical Modalities Corporation
(Exact name of registrant as specified in its charter)
<TABLE>
<CAPTION>
<S> <C> <C>
New Jersey 000-23416 22-3059258
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
</TABLE>
1719 Route 10, Suite 117
Parsippany, NJ 07054
(Address of principal executive offices, including zip code)
(973) 538-9955
(Registrant's telephone number, including area code)
<PAGE>
ITEM 5. OTHER EVENTS
The following unaudited May 31, 1999 balance sheet and the unaudited pro-forma
May 31, 1999 balance sheet which reflects the sale of the Company's common stock
to accredited investors in a private placement as if it had closed on May 31,
1999 has been prepared at the request of the Nasdaq Amex Market Group. The
Company=s net tangible assets as reflected on the May 31, 1999 unaudited as
adjusted pro forma balance sheet reflects net tangible assets of $ 2,575,215.
The Company sold an aggregate of 148,702 shares of its common stock for
aggregate net proceeds of $246,210 to the Company after payment of commissions
and expenses to the placement agent.
<PAGE>
<TABLE>
<CAPTION>
BALANCE
SHEET
UNAUDITED
PRO FORMA
BALANCE AS ADJUSTED
SHEET ------------
ASSETS MAY 31, 1999 ADJUSTMENTS MAY 31, 1999
- ------- ------------ ----------- ------------
<S> <C> <C> <C>
Cash and Cash Equivalents $9,141 $246,210 $ 255,351
Restricted cash for line of credit repayment 600,000 600,000
Accounts Receivable (less estimated
contractual allow. of $2,423,793) 2,708,851 2,708,851
Current portion note receivable from affiliate 119,445 119,445
Other receivable 409,245 409,245
--------- ---------
TOTAL CURRENT ASSETS 3,846,682 246,210 4,092,892
--------- ---------
--------- ---------
Fixed Assets, Net 9,846,727 9,846,727
Less Accumulated Depreciation (4,320,600) (4,320,600)
--------- ---------
Net Fixed Assets 5,526,127 5,526,127
Note receivable, net of current portion 113,736 113,736
Organization costs (net of accumulated amortization
of $27,015 respectively) 68,697 68,697
Investment in joint venture 332,198 332,198
Deposits 25,530 25,530
Deferred tax asset 470,373 470,373
Other long term assets 6,381 6,381
--------- ---------
TOTAL OTHER ASSETS 6,543,042 6,543,042
--------- ---------
TOTAL ASSETS 10,389,724 246,210 10,635,934
---------- ----------
---------- ----------
LIABILITIES AND STOCKHOLDERS' EQUITY
Line of credit $595,552 $595,552
Accounts Payable 1,773,661 1,773,661
Accrued Expenses 455,367 455,367
Loan payable-joint venture 71,942 71,942
Current portion long term debt 2,061,207 2,061,207
Due to affiliate 101,832 101,832
--------- ---------
TOTAL CURRENT LIABILITIES 5,059,561 5,059,561
Long term debt, net of current portion 2,849,600 2,849,600
---------
TOTAL OTHER LIABILITIES 2,849,600 2,849,600
--------- ---------
TOTAL LIABILITIES 7,909,161 7,909,161
--------- ---------
Minority Interest 151,559 151,559
Common Stock, $0.0002 par value
Authorized-2,500,000 shares
issued and outstanding - 1,895,271 shares; 379 30 409
2,043,973 shares as adjusted
Additional paid-in capital 3,866,389 246,180 4,122,569
Retained earnings (deficit) (1,537,763) (1,537,763)
--------- ---------
TOTAL STOCKHOLDERS' EQUITY 2,329,005 246,210 2,575,215
--------- ---------
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY $10,389,724 246,210 $10,635,934
----------- ------- -----------
----------- ------- -----------
</TABLE>
<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 hereunto duly authorized.
Dated: August 3, 1999
MODERN MEDICAL MODALITIES CORPORATION
By: /S/ ROGER FINDLAY
--------------------------
Name: Roger Findlay
Title: President
By: /S/ JAN GOLDBERG
--------------------------
Name: Jan Goldberg
Title: President
By: /S/ GREGORY MACCIA
--------------------------
Name: Gregory Maccia
Title: President
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