UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20659
[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR
15(D) OF THE SECURITIES EXCHANGE ACT OF 1934.
For the Quarterly period ended June 30, 1996
Commission File Number 0-25030
PLAY CO. TOYS & ENTERTAINMENT CORP.
(Exact Name of Registrant as specified in its charter)
Delaware 94-3024222
(State or other jurisdiction of (I.R.S. incorporation or organization)
Employer ID No.)
550 Rancheros Drive, San Marcos, California 92069
(Address of principle executive offices) (Zip Code)
(619) 471-4505
(Registrant's telephone number, including area code)
PLAY CO. TOYS
(Former name, former address and formal fiscal year, if changed since
last report)
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 [ ]
Common Stock, $.01 par value: 3,863,530 shares outstanding as of
June 30, 1996.
PLAY CO. TOYS & ENTERTAINMENT CORP.
TABLE OF CONTENTS
PAGE
PART I. FINANCIAL INFORMATION:
Item 1. FINANCIAL STATEMENT
Condensed balance sheet as of
June 30, 1996. 3
Condensed statements of Operations
for the three months ended June 30,
1996 and 1995. 4
Condensed statements of cash flows for
the three months ended June 30, 1996
and 1995. 5
Notes to condensed financial statements 6
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
9
PART II. OTHER INFORMATION
Item 5. Other Information 12
Signatures 15
- 2 -
SIGNATURES
In accordance with the requirements of the Exchange Act, the Registrant
caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
Dated: September 5, 1996
PLAY CO. TOYS & ENTERTAINMENT CORP.
By: /s/ Richard L. Brady
Richard L. Brady
President
By: /s/ Angela R. Burnett
Angela R. Burnett
Chief Financial Officer
- 16 -
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
The schedule contains summary financial information extracted from the condensed
financial statements for the three months ended June 30, 1996 and is qualified
in its entirety by reference to such statements.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-START> APR-01-1996
<PERIOD-END> MAR-31-1996
<CASH> 232,243
<SECURITIES> 0
<RECEIVABLES> 107,403
<ALLOWANCES> 0
<INVENTORY> 7,518,770
<CURRENT-ASSETS> 7,858,416
<PP&E> 1,849,863
<DEPRECIATION> 149,266
<TOTAL-ASSETS> 10,358,946
<CURRENT-LIABILITIES> 8,561,278
<BONDS> 0
0
0
<COMMON> 1,620,556
<OTHER-SE> 0
<TOTAL-LIABILITY-AND-EQUITY> 10,358,946
<SALES> 3,184,903
<TOTAL-REVENUES> 3,184,903
<CGS> 2,151,718
<TOTAL-COSTS> 4,168,264
<OTHER-EXPENSES> 2,016,546
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 179,174
<INCOME-PRETAX> (983,361)
<INCOME-TAX> 0
<INCOME-CONTINUING> (983,361)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (983,361)
<EPS-PRIMARY> (.25)
<EPS-DILUTED> (.25)
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