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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDMENT NO. 1 TO
FORM 10-QSB
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15 (D) OF THE SECURITIES
EXCHANGE ACT OF 1934
FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2000
[ ] Transition report under section 13 or 15(d) of the Exchange Act.
COMMISSION FILE NUMBER 1-12230
ADVANCED DEPOSITION TECHNOLOGIES, INC.
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(EXACT NAME OF SMALL BUSINESS ISSUER AS SPECIFIED IN ITS CHARTER)
DELAWARE 04-2865714
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(STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION) IDENTIFICATION NO.)
580 Myles Standish Industrial Park, Taunton, Massachusetts 02780
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
(508) 823-0707
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(ISSUER'S TELEPHONE NUMBER)
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
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As of May 8, 2000, there were 4,818,648 shares of Common Stock, $0.01
par value, of the issuer outstanding.
Transitional Small Business Disclosure Format (check one)
YES NO X
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EXPLANATORY NOTE
The purpose of this amendment is to amend and restate Items 3 and 6 of
Part II of the Company's Form 10-QSB filed on May 11, 2000. In addition, the
documents listed in the exhibit index in Item 6 are being filed with this
amendment as they were inadvertently omitted from the Report on Form 10-QSB
filed on May 11, 2000.
1
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PART II - OTHER INFORMATION
Item 3. Default Upon Senior Securities
Modification No. 6 of the Revolving Credit and Loan Agreement with
National Bank of Canada included a waiver of non-compliance with one of
the financial covenants at December 31, 1999 and March 31, 2000. The
bank waived the event of default relating to the covenant of tangible
net worth in the Revolving Credit and Loan Agreement.
Item 6. Exhibits and Reports filed on Form 8-K
(a) Exhibits
10uu Modification No 4 to Revolving Credit and
Term Loan Agreement dated September 2, 1999
between the Company and National Bank of
Canada.
10vv Modification No 5 to Revolving Credit and
Term Loan Agreement dated December 27, 1999
between the Company and National Bank of
Canada.
10ww Modification No 6 to Revolving Credit and
Term Loan Agreement dated March 31, 2000
between the Company and National Bank of
Canada.
10xx Boxall Subordination Agreement dated
December 27, 1999 among the Company,
National Bank of Canada and Alexander
Boxall.
10yy 1999 Incentive Plan between the Company and
Mr. Walters.
27.1* Financial Data Schedule
(b) Reports on Form 8-K
None.
* Previously filed.
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SIGNATURES
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In accordance with the requirements of the Securities Exchange Act of
1934, the registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Advanced Deposition Technologies, Inc.
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Registrant
May 30, 2000 /s/ Glenn J. Walters
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Glenn J. Walters
Chief Executive Officer
And Treasurer
(Principal Executive Officer)
May 30, 2000 /s/ Joseph P. Keller
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Joseph P. Keller
Controller
(Principal Accounting Officer)
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EXHIBIT INDEX
Exhibit Description
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10uu Modification No 4 to Revolving Credit and
Term Loan Agreement dated September 2, 1999
between the Company and National Bank of
Canada.
10vv Modification No 5 to Revolving Credit and
Term Loan Agreement dated December 27, 1999
between the Company and National Bank of
Canada.
10ww Modification No 6 to Revolving Credit and
Term Loan Agreement dated March 31, 2000
between the Company and National Bank of
Canada.
10xx Boxall Subordination Agreement dated
December 27, 1999 among the Company,
National Bank of Canada and Alexander
Boxall.
10yy 1999 Incentive Plan between the Company and
Mr. Walters.
27.1* Financial Data Schedule
* Previously filed.
