U. S. Securities and Exchange Commission
Washington, D.C. 20549
Form 10-QSB/A
Amendment #1
(Mark One)
[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 [No Fee Required]
For the period ended May 31, 1997
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 [No Fee Required]
For the transition period from . . . . . . . . . . .
Commission file number 1-12556
TOWER TECH, INC.
(Name of small business issuer in its charter)
O 73-1210013
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
Rural Route 3, Post Office Box 1838, Chickasha, Oklahoma 73023
(Address of principal executive offices) (Zip Code)
Issuers telephone number 405/222-2876
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
(ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDING DURING THE PAST FIVE YEARS)
Check whether the issuer has filed all documents and reports required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of
securities under a plan confirmed by a court. Yes No
State the number of shares outstanding of each of the issuer's classes of
common equity, as of the latest practical date.
Common Stock $.001 par value 3,375,488 shares as of July 10, 1997
TOWER TECH, INC.
NOTE TO AMENDMENT #1
This amendment is filed to correct the statement of operations for the six
months ended May 31, 1996, for the omission of dividends on preferred shares of
$62,812 and net income per common share-primary and net income per common
share-fully diluted.
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TOWER TECH, INC.
STATEMENT OF OPERATIONS (UNAUDITED)
<TABLE>
<CAPTION>
Six Months Ended
<S> <C> <C>
May 31, May 31,
1997 1996
Sales and other operating revenue:
Tower sales $ 7,918,545 $ 6,335,306
Concrete tower sales 1,662,054 2,490,566
Tower rentals 384,324 284,202
Other tower revenue 490,771 207,534
------------- -------------
Total tower revenue 10,455,694 9,317,608
Other operating revenue 270,000 339,983
-------------- --------------
10,725,694 9,657,591
------------ ------------
Costs and expenses:
Cost of goods sold and constructed 8,234,280 7,521,449
General and administrative 662,875 712,445
Selling expenses 572,785 465,977
Research and development 268,150 157,364
------------- -------------
9,738,090 8,857,235
------------ ------------
Income from operations 987,604 800,356
------------- --------------
Other income (expense):
Interest (338,698) (199,141)
Miscellaneous 32,059 35,870
-------------- ---------------
(306,639) (163,271)
-------------- --------------
Income before income taxes 680,965 637,085
Income taxes - -
-------------- --------------
Net income 680,965 637,085
Less dividends on preferred shares - (62,812)
--------------- --------------
Net income applicable to common shares $ 680,965 $ 574,273
============= =============
Weighted average shares outstanding-
primary 3,536,931 2,883,239
============= =============
Net income per common share-primary $ .19 $ .20
============= =============
Weighted average shares outstanding-
fully diluted 3,536,931 3,398,719
============= =============
Net income per common share-
fully diluted $ .19 $ .17
============= =============
</TABLE>
The accompanying notes are an integral part of these financial statements.
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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 thereunto duly authorized.
TOWER TECH, INC.
(Registrant)
Date: July 28, 1997 ss/HAROLD CURTIS
-------------------------------------
Harold Curtis, Chief Executive Officer
Date: July 28, 1997 ss/CHARLES D. WHITSITT
-------------------------------------
Charles D. Whitsitt, Chief Financial Officer
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