U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FIRST AMENDED FORM 10-QSB
Quarterly Report Under Section 13 or 15(d)
of the Securities Exchange Act of 1934
For the Quarter Ended October 31, 1996
Commission File Number: 0-22990
MAGNUM RESOURCES, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 87-0368628
(State of incorporation) (I.R.S. Employer Identification No.)
2850 METRO DRIVE SUITE 509
Bloomington, MN 55425
(612) 854-1625
(Address, including zip code, and telephone number including area code,
of Issuer's executive offices)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Name of each exchange on which registered
None None
Securities registered pursuant to Section 12(g) of the Act:
COMMON STOCK; 10% CONVERTIBLE PREFERRED STOCK; WARRANTS TO PURCHASE COMMON STOCK
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 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___
State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: As of December 1, 1996 - 10,252,337.
Transitional Small Business Disclosure Format (Alternative 2):
Yes _X_ No___
MAGNUM RESOURCES, INC. AND SUBSIDIARIES
QUARTERS ENDED OCTOBER 31, 1996 AND 1995
PART II - OTHER INFORMATION
ITEM 1. - LEGAL PROCEEDINGS
None.
ITEM 4. - SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None.
ITEM 6. - EXHIBITS AND REPORTS ON FORM 8-K
(A) Exhibits
27.2 Financial Data Schedule
(B) Reports on Form 8-K
On or about August 5, 1996, the Company filed a report on Form 8-K, with the
Commission regarding a Settlement Agreement and Mutual Release with John
Warburton who is currently on the Company's Board of Directors.
SIGNATURE
Pursuant to the registration requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereto duly authorized.
MAGNUM RESOURCES, INC.
(Registrant)
Date: June 13, 1997
BY: /s/ John Luoma
------------------------------
John Luoma
Chief Executive Officer
BY: /s/ David M. Eichers
------------------------------
David M. Eichers
Secretary and Chief Accounting
Officer
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM MAGNUM
RESOURCES, INC. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> JUL-31-1997
<PERIOD-END> OCT-31-1996
<CASH> 6,245
<SECURITIES> 0
<RECEIVABLES> 923,419
<ALLOWANCES> (15,788)
<INVENTORY> 1,377,843
<CURRENT-ASSETS> 2,389,880
<PP&E> 3,320,057
<DEPRECIATION> (1,662,381)
<TOTAL-ASSETS> 4,085,273
<CURRENT-LIABILITIES> 2,147,839
<BONDS> 36,898
0
0
<COMMON> 102,523
<OTHER-SE> 1,705,013
<TOTAL-LIABILITY-AND-EQUITY> 4,085,273
<SALES> 2,246,753
<TOTAL-REVENUES> 2,246,753
<CGS> 1,713,407
<TOTAL-COSTS> 1,713,407
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 3,000
<INTEREST-EXPENSE> 20,208
<INCOME-PRETAX> 43,982
<INCOME-TAX> (3,000)
<INCOME-CONTINUING> 46,982
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 46,982
<EPS-PRIMARY> .00
<EPS-DILUTED> .00
</TABLE>
