SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO 2
TO
FORM 10-K
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1999
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES ACT OF 1934
FOR THE TRANSITION PERIOD FROM _______________ TO ___________
COMMISSION FILE NUMBER 0-25406
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TECHNICAL CHEMICALS AND PRODUCTS, INC.
(Exact name of registrant as specified in its charter)
Florida 65-0308922
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(State or jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
3341 S.W. 15th Street, Pompano Beach, Florida 33069
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (954) 979-0400
Securities Registered Pursuant to Section 12(b) of the Act:
Name of exchange
Title of each class on which registered
------------------- -------------------
None None
Securities registered pursuant to 12(g) of the Act: Common Stock, $.001 par
value
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding twelve months (or 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 ___
Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not 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-K or any
amendment to this Form 10-K. [ ]
The aggregate market value of Common Stock held by non-affiliates as of
March 27, 2000 was approximately $39,411,432 (based upon the closing sale price
of $1.59375 per share on the Nasdaq National Market on March 27, 2000).
As of March 27, 2000, 29,541,258 shares of the Registrant's $.001 par
value Common Stock were outstanding.
Documents Incorporated By Reference
-----------------------------------
The Registrant's Definitive Proxy Statement related to the 2000
Annual Shareholder's Meeting is incorporated by reference in Part
III to the extent provided in Items 10, 11, 12 and 13 hereof.
<PAGE>
<TABLE>
<CAPTION>
Technical Chemicals and Products, Inc. and Subsidiaries
Consolidated Statements of Stockholders' Equity
(Amounts in thousands, except share data)
Preferred Stock Common Stock
-------------------------------------------------------- Additional
Number of Number of Paid-In Accumulated
Shares Amount Shares Amount Capital Deficit Total
-------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1997 - $ - 9,938,634 $ 10 $ 39,608 $ (3,924) $ 35,694
Comprehensive loss:
Net loss - - - - - (4,489) (4,489)
Other comprehensive
loss, net of tax -
unrealized losses on
investments, net - - - - - (46) (46)
-------------
Comprehensive loss - - - - - - (4,535)
Shares issued upon
exercise of warrants - - 76,402 - 199 - 199
-------------------------------------------------------------------------------------------------
Balance at December 31, 1997 - - 10,015,036 10 39,807 (8,459) 31,358
Comprehensive loss:
Net loss - - - - - (9,827) (9,827)
Other comprehensive
loss, net of tax -
unrealized losses on
investments, net - - - - - (65) (65)
-------------
Comprehensive loss - - - - - - (9,892)
Issuance of Series A
preferred stock, net of
issuance costs of $640 15,000 12,409 - - 1,091 - 13,500
Issuance of 150,000
warrants with Series A
preferred stock - - - - 860 - 860
Accrued dividends on
Series A preferred stock - 557 - - (557) - -
Accretion to redemption
value of Series A
preferred stock - 473 - - (473) - -
Purchase of common stock - - (87,961) - (339) - (339)
Conversion of preferred
stock to common stock (300) (308) 79,241 - 308 - -
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Balance at December 31, 1998 14,700 $ 13,131 10,006,316 $ 10 $ 40,697 $ (18,351) $ 35,487
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(continued on next page)
<PAGE>
Technical Chemicals and Products, Inc. and Subsidiaries
Consolidated Statements of Stockholders' Equity (continued)
(Amounts in thousands, except share data)
Preferred Stock Common Stock
-------------------------------------------------------- Additional
Number of Number of Paid-In Accumulated
Shares Amount Shares Amount Capital Deficit Total
------------------------------------------------------------------------------------------------
Balance at December 31, 1998 14,700 $ 13,131 10,006,316 $ 10 $ 40,697 $ (18,351) $ 35,487
Comprehensive loss:
Net loss - - - - - (15,339) (15,339)
Other comprehensive
loss, net of tax -
unrealized gains on
investments, net - - - - - 8 8
------------
Comprehensive loss - - - - - - (15,331)
Accrued dividends on
Series A preferred stock - 799 - - (799) - -
Accretion to redemption
value of Series A
preferred stock - 2,118 - - (2,118) - -
Conversion of preferred
stock to common stock (3,350) (3,591) 4,528,228 5 3,586 - -
Shares issued to
directors and employee - - 7,000 - 10 - 10
Issuance of 400,000
warrants for services - - - - 262 - 262
------------------------------------------------------------------------------------------------
Balance at December 31, 1999 11,350 $ 12,457 14,541,544 $ 15 $ 41,638 $ (33,682) $ 20,428
================================================================================================
</TABLE>
See accompanying notes.
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
TECHNICAL CHEMICALS AND PRODUCTS, INC.
By: /s/ Walter V. Usinowicz, Jr.
-----------------------------
Walter V. Usinowicz, Jr.
Vice President, Chief Financial
Officer (Principal Financial Officer
and Principal Accounting Officer)
Date: June 5, 2000
