<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
AMENDMENT NO. 1 TO
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 1, 1997
ENlighten Software Solutions, Inc.
(Exact name of registrant as specified in charter)
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California 0-23446 94-3008888
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
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999 Baker Way, Suite 500, San Mateo, California 94404-1578
(Address of principal executive offices) (Zip Code)
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Registrant's telephone number, including area code (650) 578-0700
(Former name or former address, if changed since last report)
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The undersigned registrant hereby amends the following item of its
Current Report dated October 1, 1997 on Form 8-K as set forth in the pages
attached thereto:
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) The following exhibits are attached hereto and filed herewith:
7.1 Proforma consolidated financial statements of ENlighten Software
Solutions, Inc. for the year ended December 31, 1996 and the nine months ended
September 30, 1997.
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.
ENLIGHTEN SOFTWARE SOLUTIONS, INC.
Date: December __, 1997 By: /s/ Michael A. Morgan
-------------------------------
Michael A. Morgan
Vice President, Finance and
Administration, Chief Financial
Officer and Secretary
2
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ENLIGHTEN SOFTWARE SOLUTIONS, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED BALANCE SHEETS
SEPTEMBER 30, 1997
<TABLE>
<CAPTION>
ENlighten Software
Solutions, Inc. Pro Forma Pro Forma
and Subsidiary Adjustment Consolidated
------------------- --------------- ---------------
ASSETS
<S> <C> <C> <C>
Current assets:
Cash, cash equivalents, and short term investments $ 586,606 $ 1,585,378(1) $ 2,171,984
Accounts receivable, less allowance for
doubtful accounts 1,209,159 0 1,209,159
Prepaid expenses and other assets 307,796 0 307,796
----------- ----------- -----------
Total current assets 2,103,561 1,585,378 3,688,939
----------- ----------- -----------
Property and equipment, net 976,297 (114,580)(1) 861,717
Acquired technology and software development
costs, net 690,891 (147,110)(1) 543,781
Other assets 221,034 0 221,034
----------- ----------- -----------
$ 3,991,783 $ 1,323,688 $ 5,315,471
=========== =========== ===========
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accrued and other current liabilities 584,117 105,488(1) 689,605
Deferred revenue 1,358,376 (1,257,489)(1) 100,887
----------- ----------- -----------
Total current liabilities 1,942,493 (1,152,001) 790,492
----------- ----------- -----------
Shareholders' equity:
Common stock 5,059,640 5,059,640
Accumulated deficit (3,010,350) 2,475,689(1) (534,661)
----------- ----------- -----------
Total shareholders' equity 2,049,290 2,475,689 4,524,979
----------- ----------- -----------
$ 3,991,783 $ 1,323,688 $ 5,315,471
=========== =========== ===========
</TABLE>
See notes to unaudited pro forma consolidated financial statements
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ENLIGHTEN SOFTWARE SOLUTIONS, INC. AND SUBSIDIARY
UNAUDITED PRO FORMA
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
NINE MONTHS ENDED SEPTEMBER 30, 1997
<TABLE>
<CAPTION>
ENlighten Software
Solutions, Inc. Pro Forma Pro Forma
and Subsidiary Adjustment Consolidated
----------- ----------- ------------
<S> <C> <C> <C>
Revenue:
Product license fees $ 1,337,803 $ (946,404)(2) $ 391,399
Product maintenance fees 2,544,186 (2,496,375)(2) 47,811
Consulting services 110,784 (110,784)(2) 0
----------- ----------- -----------
Total revenue 3,992,773 (3,553,563) 439,210
Cost of revenue 699,503 (446,467)(2) 253,036
----------- ----------- -----------
Gross profit 3,293,270 (3,107,096) 186,174
----------- ----------- -----------
Operating expenses:
Research and development 1,691,204 (320,175)(2) 1,371,029
Sales and marketing 2,861,728 (176,175)(2) 2,685,553
General and administrative 1,189,586 (39,188)(2) 1,150,398
----------- ----------- -----------
Total operating expenses 5,742,518 (535,538) 5,206,980
----------- ----------- -----------
Operating loss (2,449,248) (2,571,558) (5,020,806)
----------- ----------- -----------
Other income (expense):
Interest income (net) 66,728 0 66,728
----------- ----------- -----------
Loss before income taxes (2,382,520) (2,571,558) (4,954,078)
----------- ----------- -----------
Income tax expense 1,080 1,080(2) 0
----------- ----------- -----------
Net loss $(2,383,600) $(2,572,638) $(4,954,078)
=========== =========== ===========
Net loss per share $ (0.81) $ $(1.69)
Shares used in computing net loss per share 2,936,025 2,936,025
=========== =========== ===========
</TABLE>
See notes to unaudited pro forma consolidated financial statements
<PAGE> 5
ENLIGHTEN SOFTWARE SOLUTIONS, INC. AND SUBSIDIARY
UNAUDITED PRO FORMA
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
YEAR ENDED DECEMBER 31, 1996
<TABLE>
<CAPTION>
ENlighten Software
Solutions, Inc. Pro Forma Pro Forma
and Subsidiary Adjustment Consolidated
----------- ----------- -----------
<S> <C> <C> <C>
Revenue:
Product license fees $ 2,644,546 $(2,071,186)(3) $ 573,360
Product maintenance fees 3,407,778 (3,394,492)(3) 13,286
Consulting services 424,975 (424,975)(3) 0
----------- ----------- -----------
Total revenue 6,477,299 (5,890,653) 586,646
Cost of revenue 1,033,649 (856,577)(3) 177,072
----------- ----------- -----------
Gross profit 5,443,650 (5,034,076) 409,574
----------- ----------- -----------
Operating expenses:
Research and development 2,047,604 (426,900)(3) 1,620,704
Sales and marketing 2,979,078 (234,900)(3) 2,744,178
General and administrative 1,371,108 (52,250)(3) 1,318,858
Acquired in-process research and development 210,469 0 210,469
----------- ----------- -----------
Total operating expenses 6,608,259 (714,050) 5,894,209
----------- ----------- -----------
Operating loss (1,164,609) (4,320,026) (5,484,635)
Other income (expense):
Interest income, net 185,164 0 185,164
----------- ----------- -----------
Loss before income taxes (979,445) (4,320,026) (5,299,471)
Income tax expense 58,535 1,080(3) 57,455
----------- ----------- -----------
Net loss $(1,037,980) $(4,321,106) $(5,356,926)
=========== =========== ===========
Net loss per share $ (0.36) $ $(1.87)
Shares used in computing net loss per share 2,870,448 2,870,448
=========== =========== ===========
</TABLE>
See notes to unaudited pro forma consolidated financial statements
<PAGE> 6
ENLIGHTEN SOFTWARE SOLUTIONS, INC. AND SUBSIDIARY
NOTES TO THE UNAUDITED PRO FORMA
CONSOLIDATED FINANCIAL STATEMENTS
YEAR ENDED DECEMBER 31, 1996 AND
NINE MONTHS ENDED SEPTEMBER 30, 1997
Basis of Presentation
The unaudited pro forma consolidated financial statements should be read in
conjunction with the historical financial statements of the Company. The
unaudited pro forma consolidated financial statements do not claim to be
indicative of the financial position of the Company had the sale occurred on
September 30, 1997. Nor do the unaudited pro forma financial statements claim to
be indicative of the results of operations that actually would have occurred had
the sale been consummated on January 1, 1996, or to project the Company's
financial position or results of operations for any future period.
1. To record the cash received, assets and liabilities disposed of,
transaction costs, and the gain on sale of certain assets, net of
certain liabilities assumed from the sale of the Tandem product line.
The cash received does not include the additional sum of approximately
$700,000 held in an escrow account to be received by ENlighten Software
Solutions upon satisfaction of certain performance objectives.
2. To eliminate the operations of the Tandem product line from the
consolidated statement of operations of the Company for the nine months
ended September 30, 1997, assuming the sale had occurred at January 1,
1997.
3. To eliminate the operations of the Tandem product line from the
consolidated statement of operations of the Company for the year ended
December 31, 1996, assuming the sale had occurred January 1, 1996.
