FORM 10-KSB/A
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
For the Fiscal Year Ended December 31, 1996
Commission File No. 0-24624
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U.S.-CHINA INDUSTRIAL EXCHANGE
(Name of small business issuer in its charter)
NEW YORK 13-3097642
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
7201 Wisconsin Avenue
Bethesda, Maryland, 20814
(301) 215-7777
Securities registered pursuant to Section 12(b) of the Act: NONE
Securities registered pursuant to Section 12(g) of the Act:
Common Stock, $.01 par value
Class A Warrants
Class B Warrants
Check whether the issuer (1) has 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 [ ]
Check if there is no disclosure of delinquent filers in response to Item 405 of
Regulation S-B contained in this form, and no disclosure will be contained, to
the best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB. [ x ].
The issuer's revenue for its most recent fiscal year was $22,901,000.
The aggregate market value of the voting stock held by non-affiliates computed
by reference to the price at which the stock was sold, the average bid and asked
prices of such stock, as of March 26, 1997 was approximately $16,704,000.
The number of shares outstanding of each of the issuer's class of common equity,
as of March 26, 1997, was 4,772,500 shares of Common Stock and 2,000,000 shares
of Class B Common Stock.
Documents Incorporated by Reference: Part III: Proxy Statement
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This amendment is to supply required EDGAR Financial Data Schedule EX-27 left
off original submission.
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<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<CASH> 13374000
<SECURITIES> 0
<RECEIVABLES> 10870000
<ALLOWANCES> (115000)
<INVENTORY> 2188000
<CURRENT-ASSETS> 24965000
<PP&E> 2289000
<DEPRECIATION> (506000)
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0
0
<COMMON> 68000
<OTHER-SE> 18848000
<TOTAL-LIABILITY-AND-EQUITY> 28964000
<SALES> 22060000
<TOTAL-REVENUES> 22901000
<CGS> 15078000
<TOTAL-COSTS> 22974000
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> (119000)
<INCOME-PRETAX> 717000
<INCOME-TAX> (141000)
<INCOME-CONTINUING> 576000
<DISCONTINUED> 0
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<NET-INCOME> 576000
<EPS-PRIMARY> .15
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