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Previous: ELECTRONICS COMMUNICATIONS CORP, 10QSB, 1996-08-20 |
Next: ONYX ACCEPTANCE FINANCIAL CORP, S-1, 1996-08-20 |
<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
AUGUST 6, 1996
--------------
Date of report (Date of earliest event reported)
VOXEL
-----
(Exact Name of Registrant as Specified in Its Charter)
CALIFORNIA
----------
(State or Other Jurisdiction of Incorporation)
0-24836 33-0301060
------- ----------
(Commission File Number) (I.R.S. Employer Identification No.)
26081 MERIT CIRCLE, SUITE 117 LAGUNA HILLS, CA 92653
-------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
714-348-3200
------------
(Registrant's Telephone Number, Including Area Code)
<PAGE> 2
ITEM 5. OTHER EVENTS.
On August 6, 1996, VOXEL completed a public offering of 2,600,000 shares of its
common stock at $3.50 per share. Cruttenden Roth Incorporated managed the
underwriting of the offering. The Company has granted the underwriters a 45
day option to purchase up to 390,000 additional shares on the same terms to
cover underwriters' over-allotments, if any.
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.
VOXEL
Date August 19, 1996 By /s/ MURRAY E. RUDIN
--------------- ---------------------------
Murray E. Rudin
Chief Financial Officer
2
<PAGE> 3
EXHIBIT INDEX
Exhibit No. Document Page
- ----------------------------------------------------------------------
27 Financial Data Schedule
99.3 Condensed Consolidated Balance Sheet,
unaudited, at August 15, 1996 4
3
<TABLE> <S> <C>
<ARTICLE> 5
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 7-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> AUG-15-1996
<EXCHANGE-RATE> 1
<CASH> 8,226
<SECURITIES> 496
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 8,782
<PP&E> 1,327
<DEPRECIATION> 781
<TOTAL-ASSETS> 9,346
<CURRENT-LIABILITIES> 734
<BONDS> 0
0
0
<COMMON> 8,605
<OTHER-SE> 0
<TOTAL-LIABILITY-AND-EQUITY> 9,346
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> (4,067)
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 8
<INCOME-PRETAX> (4,005)
<INCOME-TAX> 0
<INCOME-CONTINUING> (4,005)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (4,005)
<EPS-PRIMARY> (0.80)
<EPS-DILUTED> (0.80)
</TABLE>
<PAGE> 1
EXHIBIT 99.3
VOXEL
(A development stage company)
Condensed Consolidated Balance Sheet
(In thousands, except share data)
<TABLE>
<CAPTION>
AUGUST 15,
1996
-----------
<S> <C>
Assets (UNAUDITED)
Currents assets:
Cash and cash equivalents $ 8,226
Short-term investments 496
Other current assets 60
--------
Total current assets 8,782
Property and equipment:
Furniture and equipment 1,103
Leasehold improvements 224
--------
1,327
Less accumulated depreciation and amortization (781)
--------
546
Other assets (net of accumulated amortization of $70) 18
--------
Total assets $ 9,346
========
Liabilities and shareholders' equity
Current liabilities:
Accounts payable and accrued expenses $ 671
Current portion of lease obligation 63
--------
Total current liabilities 734
Long-term lease obligation 7
Commitments
Shareholders' equity:
Common stock, no par value:
Authorized shares - 15,000,000; Issued and outstanding
shares - 7,999,198 28,181
Deficit accumulated during the development stage (19,546)
Notes receivable from shareholders (30)
--------
Total shareholders' equity 8,605
--------
Total liabilities and shareholders' equity $ 9,346
========
</TABLE>
4
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