<PAGE>
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB
(MARK ONE)
/X/ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the period ended June 30, 1996
OR
/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from to .
Commission File Number
----------
ABT GLOBAL PHARMACEUTICAL CORP.
--------------------------------------------------------------
(Exact name of registrant as specified in its charter)
California 33-0640125
- --------------------------------------------------------------------------------
(State or jurisdiction of incorporation or (I.R.S. Employer Identification No.)
organization)
5 Park Place, Suite 770, Irvine, California 92614
--------------------------------------------------------------
(Address of principal executive officers) (Zip Code)
Registrant's telephone number, including area code: (714) 224-2555
--------------
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 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 / / No /X/ - Registrant has not been subject to such filing
requirements for the past 90 days.
There were 11,000,000 issued and outstanding shares of the registrant's common
stock, without par value, at September 24, 1996.
<PAGE>
ABT GLOBAL PHARMACEUTICAL CORP.
INDEX
Page
----
Facing Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Part I. Financial Information
Item 1. Financial Statements (unaudited)
Balance Sheet as of June 30, 1996 . . . . . . . . . . 3
Statements of Operations for the three months ended
June 30, 1995 and 1996 and for the period from
inception (September 15, 1994) through June 30, 1996 . 4
Statements of Cash Flows for the three months ended
June 30, 1995 and 1996 and for the period from
inception (September 15, 1994) through June 30, 1996 . 5
Notes to Financial Statements. . . . . . . . . . . . . 6
Item 2. Plan of Operation. . . . . . . . . . . . . . . . . . . 11
Part II. Other Information
Item 6. Exhibits and Reports on Form 8-K . . . . . . . . . . . 12
Signatures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
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<PAGE>
Part I. Financial Information
Item 1. Financial Statements (Unaudited)
ABT GLOBAL PHARMACEUTICAL CORP.
(A development stage company)
BALANCE SHEET - JUNE 30, 1996
(Unaudited)
<TABLE>
<CAPTION>
ASSETS
<S> <C>
CURRENT ASSETS:
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 275,708
Prepaid research services. . . . . . . . . . . . . . . . . . . . . . 35,333
Deferred offering costs. . . . . . . . . . . . . . . . . . . . . . . 256,453
Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,570
-----------
Total current assets . . . . . . . . . . . . . . . . . . . . . . . 587,064
OTHER ASSETS, net of accumulated depreciation and
amortization of $3,229 . . . . . . . . . . . . . . . . . . . . . . . . 55,289
-----------
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 642,353
-----------
-----------
<CAPTION>
LIABILITIES AND SHAREHOLDERS' EQUITY
<S> <C>
CURRENT LIABILITIES:
Notes payable. . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 254,375
Accrual due to the University of Southern California . . . . . . . . 176,000
Accrued consulting fees. . . . . . . . . . . . . . . . . . . . . . . 22,306
Accrued compensation . . . . . . . . . . . . . . . . . . . . . . . . 74,290
Other accrued expenses . . . . . . . . . . . . . . . . . . . . . . . 95,748
-----------
Total current liabilities. . . . . . . . . . . . . . . . . . . . . 622,719
-----------
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:
Preferred stock, $.001 par value - 1,000,000 shares authorized,
no shares issued or outstanding. . . . . . . . . . . . . . . . . . . ---
Common stock, without par value - 19,000,000 shares
authorized, 8,000,000 shares issued and outstanding. . . . . . . . . 7,349,947
Additional paid-in capital . . . . . . . . . . . . . . . . . . . . . 207,500
Deferred compensation. . . . . . . . . . . . . . . . . . . . . . . . (3,212,500)
Stock subscription receivable. . . . . . . . . . . . . . . . . . . . (6,600)
Deficit accumulated during the development stage . . . . . . . . . . (4,318,713)
-----------
Total shareholders' equity . . . . . . . . . . . . . . . . . . . . 19,634
-----------
Total liabilities and shareholders' equity . . . . . . . . . . . . $ 642,353
-----------
-----------
</TABLE>
The accompanying notes are an integral part of this balance sheet.
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<PAGE>
ABT GLOBAL PHARMACEUTICAL CORP.
(A development stage company)
STATEMENTS OF OPERATIONS
(Unaudited)
<TABLE>
<CAPTION>
PERIOD FROM
INCEPTION
THREE MONTHS THREE MONTHS (SEPTEMBER 15,
ENDED ENDED 1994) THROUGH
JUNE 30, 1995 JUNE 30, 1996 JUNE 30, 1996
------------- -------------- --------------
<S> <C> <C> <C>
REVENUES . . . . . . . . . . . . . . . . . . . . . $ ----- $ ----- $ -----
EXPENSES:
Research and development . . . . . . . . . . . . 44,768 385,130 1,150,464
General and administrative . . . . . . . . . . . 52,807 2,016,329 2,974,860
---------- ----------- -----------
97,575 2,401,459 (4,125,324)
---------- ----------- -----------
LOSS FROM OPERATIONS . . . . . . . . . . . . . . . (97,575) (2,401,459) (4,125,324)
OTHER EXPENSE. . . . . . . . . . . . . . . . . . . (50,740) (89,061) (193,389)
---------- ----------- -----------
Net loss . . . . . . . . . . . . . . . . . . . . $ (148,315) $(2,490,520) $(4,318,713)
---------- ----------- -----------
---------- ----------- -----------
LOSS PER SHARE . . . . . . . . . . . . . . . . . . $ (.02) $ (.30) $ (.53)
---------- ----------- -----------
---------- ----------- -----------
WEIGHTED AVERAGE SHARES AND
EQUIVALENT SHARES OUTSTANDING . . . . . . . . . . 8,297,103 8,297,103 8,099,412
---------- ----------- -----------
---------- ----------- -----------
</TABLE>
The accompanying notes are an integral part of these financial statements.
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<PAGE>
ABT GLOBAL PHARMACEUTICAL CORP.
(A development stage company)
STATEMENTS OF CASH FLOWS
(Unaudited)
<TABLE>
<CAPTION>
PERIOD FROM
INCEPTION
THREE MONTHS THREE MONTHS (SEPTEMBER 15,
ENDED ENDED 1994) THROUGH
JUNE 30, 1995 JUNE 30, 1996 JUNE 30, 1996
------------- -------------- --------------
<S> <C> <C> <C>
OPERATING ACTIVITIES:
Net loss . . . . . . . . . . . . . . . . . . . . . $(148,315) $(2,490,520) $(4,318,713)
Adjustments to reconcile net loss to net cash
used in operating activities:
Amortization of discount on notes payable. . . . ---- 15,625 15,625
Fair value of stock issued for technology
licensing rights . . . . . . . . . . . . . . . ---- ---- 315,789
Fair value of stock and options issued as
compensation . . . . . . . . . . . . . . . . . ---- 1,585,000 1,888,750
(Increase) decrease in prepaid research services ---- 53,000 (35,333)
Increase in deferred offering costs. . . . . . . ---- (162,250) (256,453)
(increase) decrease in other assets. . . . . . . (10,460) 8,469 (74,859)
Increase (decrease) in accrued compensation. . . (4,500) 32,623 74,290
Increase in other accrued expenses . . . . . . . 15,274 74,060 95,748
Increase (decrease) in accrual due to USC . . . (10,000) ---- 176,000
Increase (decrease) in accrued consulting fees . ---- (35,381) 22,306
--------- ----------- -----------
Net cash used in operating activities. . . . . . . (158,001) (919,374) (2,096,850)
--------- ----------- -----------
FINANCING ACTIVITIES:
Net proceeds from issuance of common stock . . . . 100,000 185,342 1,802,558
Proceeds from stock subscription receivable. . . . ---- 100,000 300,000
Proceeds from notes payable. . . . . . . . . . . . ---- 20,000 270,000
--------- ----------- -----------
Net cash provided by financing activities. . . . . 100,000 305,342 2,372,558
--------- ----------- -----------
Net increase (decrease) in cash. . . . . . . . . . (58,001) (614,032) 275,708
CASH, beginning of period. . . . . . . . . . . . . 130,387 889,740 ----
--------- ----------- -----------
CASH, end of period . . . . . . . . . . . . . . . $ 72,386 $ 275,708 $ 275,708
--------- ----------- -----------
--------- ----------- -----------
</TABLE>
NON-CASH INVESTING AND FINANCING ACTIVITIES:
In March of 1995, the Company entered into a license agreement with the
University of Southern California (USC) whereby the Company issued 328,563
shares of common stock valued at $315,789 (based upon third party transactions)
to USC in exchange for certain technology licensing rights as defined in the
agreement (see Note 4).
In March of 1996, the Company issued debt with detachable warrants to an
individual. This resulted in the debt being discounted by $31,250, which was
amortized until August 20, 1996.
In March and May of 1996, the Company entered into agreements whereby
restricted stock and stock options were issued in exchange for services. The
Company recorded deferred compensation of $3,212,500 in connection with these
transactions. In connection with these transactions Dr. Tasneem Khwaja, the
Company's Chairman, contributed 1,336,978 shares of Common Stock to the Company
as a capital contribution and the Company canceled options to purchase 1,425,417
shares of Common Stock.
The accompanying notes are an integral part of these financial statements.
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<PAGE>
ABT GLOBAL PHARMACEUTICAL CORP.
(A development stage company)
NOTES TO FINANCIAL STATEMENTS
(unaudited)
June 30, 1996
1. BASIS OF PRESENTATION
The accompanying unaudited financial statements present the financial
position of ABT Global Pharmaceutical Corp. (the Company) as of June 30,
1996 and the results of operations for the three month periods ended June
30, 1995 and 1996 and the period from inception to June 30, 1996. The
financial statements do not include all of the information and footnotes
required by generally accepted accounting principles for complete financial
statements as permitted by the rules and regulations of the Securities and
Exchange Commission. In the opinion of management, all adjustments
(consisting of normal recurring accruals) considered necessary for a fair
presentation have been included. Operating results for the three month
period ended June 30, 1996 are not necessarily indicative of the results
that may be expected for the year ending March 31, 1997.
2. NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT RISK FACTORS
The Company develops and intends to manufacture pharmaceutical versions of
natural medicines to be used in the treatment of various diseases. The
Company's technology for standardizing the manufacture of natural medicines
into pharmaceuticals is referred to as "fingerprinting." The
fingerprinting technology is designed to enable the Company to precisely
describe the identity and quantity of each active component in the natural
medicine, measure each component's bioactivity and effectiveness, and
together with the results of preclinical and clinical trials provide the
information necessary to seek Food & Drug Administration (FDA) approval for
each pharmaceutical version of the natural medicine. This technology has
been developed in the laboratories of the University of Southern California
(USC) School of Medicine by Dr. Tasneem A. Khwaja, a founder and major
shareholder of the Company. The Company was incorporated in the state of
California on September 15, 1994.
The Company has a limited operating history with no revenues. Management's
efforts to date have focused primarily in securing patents and raising
capital; as such, the Company is subject to the risks and uncertainties
associated with a new business. The success of the Company's future
operations is dependent, in part, upon the Company's ability to (i)
discover or develop a commercially feasible technology or product, (ii)
obtain approval from the FDA or equivalent regulatory agencies overseas,
(iii) license its proprietary technology of fingerprinting, (iv) market
certain new drugs and (v) obtain additional capital. The Company's
therapeutic products will be subject to regulation in the United States by
the FDA and by applicable regulatory authorities in foreign jurisdictions.
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<PAGE>
The Company intends to seek accelerated approval from the FDA for its
initial pharmaceutical intended to treat HIV patients, T-4GEN, which
accelerated approval is generally available for products related to the
treatment of HIV. However, there can be no assurance that the Company will
ever receive the regulatory approval required to test or market its
proposed products or that the regulatory authority will review the product
within the average period of time. Further, no assurance can be given that
additional financing will be available when needed or upon terms acceptable
to the Company.
The Company also expects to continue to incur substantial and increasing
operating losses over the next several years. The amount of net losses and
the time required for the Company to reach profitability are highly
uncertain and, although the Company subsequently completed an initial
public offering (see Note 8.c), at June 30, 1996 substantial financing was
needed by the Company to fund its operations. The Company's future capital
requirements will depend on many factors, including its ability to license
the Company's fingerprinting technology to third parties, patent costs, the
cost of clinical trials, the length of time required to obtain FDA
approval, competing technological and market developments, changes in
existing collaborative relationships, sales and marketing arrangements, and
the costs of establishing subcontracts for manufacturing.
The financial statements do not include any adjustments to reflect the
possible future effects on the recoverability and classification of assets
or the classification of liabilities that might result from the outcome of
this uncertainty.
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
a. USE OF ESTIMATES
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the amounts reported in the financial statements
and accompanying notes. Actual results could differ from those estimates.
b. LOSS PER SHARE
Loss per share is computed based on the weighted average number of shares
outstanding for the period. Common equivalent shares are excluded from the
computation as their effect is antidilutive, except that, pursuant to the
Securities and Exchange Commission Staff Accounting Bulletins, common and
common equivalent shares (stock options, warrants and preferred stock)
issued during the period commencing 12 months prior to the Company's
initial public offering at prices below the public offering price have been
included in the calculation as if they were outstanding for all periods
presented (using the treasury stock method).
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<PAGE>
4. AGREEMENTS WITH USC
a. LICENSE AGREEMENT
In March 1995, the Company entered into a license agreement with USC (the
USC License Agreement) which grants the Company an exclusive, worldwide
license to (1) the fingerprinting technology, (2) use certain therapeutic
compounds, and (3) other related products developed by Dr. Khwaja's
laboratory at USC. USC has also agreed to grant the Company the right to
sublicense certain products and a right of first refusal to obtain a
license for any improvements to certain products developed by USC. The
term of the USC License Agreement began March 1, 1995 and ends on the later
of February 28, 2010 or the expiration of the last issued patent under the
USC License Agreement.
In exchange for the license, the Company agreed to pay USC (1) royalty
payments of 3% of the Company's net sales of pharmaceutical products
developed with the fingerprinting technology, (2) after the first patent
issues, an annual minimum royalty of $15,000, which shall increase by
$5,000 annually for the following two years and be $25,000 annually
thereafter, (3) an annual license fee of $10,000 payable until a patent
issues and (4) 328,563 shares of the Company's common stock at the time of
the exchange. USC and Dr. Tasneem Khwaja have entered into a Distribution
of Royalty Income Agreement pursuant to which USC has agreed to pay Dr.
Tasneem Khwaja 50% of the net royalties received by USC under the USC
License Agreement. The cost of the USC License Agreement ($315,789) was
recorded as research and development expense fiscal 1995.
b. RESEARCH AGREEMENT
The Company and USC have entered into a five year research agreement (the
Research Agreement) which requires USC to perform certain research, as
defined under the Research Agreement, from March 1, 1995 through
February 29, 2000. Payments by the Company to USC are made in advance
semiannually commencing on March 1, 1995 through September 1, 1999. The
Company prepays these research and development costs and amortizes them
over six months, the service period of each payment. For the period from
inception to June 30, 1996 and for the three months ended June 30, 1996,
total expenses incurred relative to the Research Agreement were $270,673
and $53,001, respectively. Future payments due to USC under the Research
Agreement as of June 30, 1996 are as follows:
FISCAL YEAR ENDED MARCH 31,
---------------------------
1997 . . . . . . . . . . . . . . . . . . . . $198,360
1998 . . . . . . . . . . . . . . . . . . . . 231,462
1999 . . . . . . . . . . . . . . . . . . . . 245,350
2000 . . . . . . . . . . . . . . . . . . . . 126,248
$821,420
--------
--------
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<PAGE>
5. INCOME TAXES
No provision for federal and state income taxes has been recorded as the
Company incurred net operating losses through June 30, 1996. At June 30,
1996, the Company has net operating loss carryforwards available to offset
future taxable income for federal and state income tax purposes of
approximately $1,700,000 and $850,000, respectively; such carryforwards
expire in various years through 2011. Other deferred tax assets include
the timing of certain expenses for book and tax purposes. The Company has
provided a valuation allowance to offset all deferred tax assets due to the
uncertainty of realization.
Under the Tax Reform Act of 1986, the amounts of and benefits from net
operating losses carried forward may be impaired or limited in certain
circumstances. Events which may cause limitations in the amount of net
operating losses that the Company may utilize in any one year include, but
are not limited to, a cumulative ownership change of more than 50% over a
three year period. At June 30, 1996, the effect of such limitation, if
imposed, has not been determined.
6. NOTES PAYABLE
Notes payable consists of the following at June 30, 1996:
Bridge note payable, net of discount of $15,625. . . . $234,375
Note payable to shareholder. . . . . . . . . . . . . . 20,000
--------
--------
$254,375
--------
--------
7. COMMITMENTS AND CONTINGENCIES
a. LEASE
The Company leases its corporate headquarters under an operating lease
which expires on April 1, 1997. Future minimum lease payments under this
lease as of June 30, 1996 total $32,000 payable in 1996 and $3,600 payable
in 1997. Rent expense for the three months ended June 30, 1995 and 1996
totaled approximately $2,500 and $11,000, respectively.
b. 1995 STOCK OPTION PLAN
On April 14, 1995, the Company adopted the 1995 Stock Option Plan (the 1995
Plan) covering 1,300,000 shares of the Company's common stock, pursuant to
which directors, officers, key employees, consultants, scientific advisors
and other personnel working directly with the Company are eligible to
receive stock options as defined in the 1995 Plan. The 1995 Plan was
amended in May 1996 to reduce the number of shares of common stock issuable
thereunder to 800,000 shares. The 1995 Plan is administered by the Board
of Directors, which is empowered to determine the terms and conditions of
each option, as defined by the 1995 Plan. The Company can grant either
nonqualified or incentive stock options, as defined, under the 1995
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<PAGE>
Plan which vest as determined by the Board of Directors. The 1995 Plan,
unless terminated sooner by the Board of Directors, will terminate on April
14, 2005.
Option activity from adoption of the 1995 Plan (April 1995) to June 30,
1996 was as follows:
OPTIONS
------------------------
NUMBER PRICE
--------- -----
Granted April 1995. . . . . . . . . . . . . . 841,030 $0.96
Granted July 1995 . . . . . . . . . . . . . . 67,629 0.96
Granted November 1995 . . . . . . . . . . . . 88,438 0.96
Granted June 1996 . . . . . . . . . . . . . . 70,751 3.84
Canceled May 1996 . . . . . . . . . . . . . . (624,270) 0.96
---------
Outstanding at June 30, 1996. . . . . . . . . 443,578 $0.96
---------
---------
At June 30, 1996, stock options to purchase 408,203 shares of common stock
were exercisable at a price of $0.96 and $3.84 per share and 356,422
options were available for grant under the 1995 Plan. In addition, the
Company also granted two individuals stock options to purchase 801,147
shares of common stock at a price of $0.96 per share outside of the 1995
Plan, which options were canceled as described in Note 7.c below.
Certain stock options were granted at a price below the estimated fair
value of the Company's common stock on the date of the grant (based upon
third-party transactions). As a result, compensation expense of $207,500
was recorded and included in general and administrative expenses and
additional paid-in capital as of June 30, 1996.
c. COMMON STOCK FOR SERVICES
In May 1996 the Company issued 1,425,416 shares of Common Stock to an
employee and the employer of a consultant in exchange for services and
canceled 1,425,416 stock options previously granted. As a result,
approximately $1,585,000 of compensation expense was recorded in the three
month period ended June 30, 1996.
8. SUBSEQUENT EVENTS
a. STOCK SPLIT
On July 5, 1996, the Company's Board of Directors approved a 1.04045 for 1
stock split of the Company's common stock. All references in the
accompanying financial statements to the number of shares and per share
amounts have been restated to reflect the effect of this action.
b. INITIAL PUBLIC OFFERING
On August 19, 1996, the Company completed an initial public offering of
3,000,000 shares of its Common stock at a price to the public of $5.00
per share.
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<PAGE>
Item 2. Plan of Operation
GENERAL
To commercialize the research and technology developed over a 20 year
period at the USC School of Medicine, the Company, a development stage company,
was incorporated in California on September 15, 1994. During the next 12
months, the Company anticipates commencement of overseas clinical trials and
completion of IND applications with the FDA for its immunomodulator
pharmaceuticals, T4GEN and n-T4GEN. The Company expects to increase its staff
by adding 11 employees during the next 12 months, and it anticipates that it
will purchase $1,500,000 of equipment during that period for use in operating a
contract fingerprinting facility. In addition to its efforts to develop T4GEN
and n-T4GEN and market its fingerprinting technology, the Company has begun the
development of a pharmaceutical version of a natural medicine used to treat
prostate enlargement in collaboration with the University of Miami and is also
investigating the development of pharmaceutical versions of other natural
medicines.
LIQUIDITY AND CAPITAL RESOURCES
The Company has financed its operations primarily through the sale of
equity securities in private placements. From inception through June 30, 1996,
the Company had raised an aggregate net amount of approximately $2,078,061
through the sales of equity securities.
In August 1996, the Company completed an initial public offering of
3,000,000 shares of Common Stock raising net proceeds of approximately
$12,997,500. The proceeds of the initial public offering and cash flow from
operations, if any, are expected to be sufficient to meet the Company's working
capital requirements for at least the next 24 months. To the extent the
Company's capital resources are insufficient to meet its operating requirements,
the Company will seek additional funds through equity or debt financings,
collaborative or other arrangements with corporate partners, licensees and
others. The Company has no current arrangements with respect to , or sources
of, such additional financing, and the Company does not anticipate that existing
shareholders will provide any portion of the Company's future financing
requirements. Additionally, no assurance can be given that additional financing
will be available when needed or upon terms acceptable to the Company.
-11-
<PAGE>
Part II. Other Information
Item 6. Exhibits and Reports on Form 8-K
(a) All of the following exhibits are incorporated by reference herein from the
Company's Registration Statement on Form SB-2 (Registration No. 333-4912-
LA). The parenthetical reference next to each exhibit below refers to the
exhibit number in such registration statement at which such exhibit can be
found :
3.1 Amended and Restated Articles of Incorporation of the Company
(Exhibit 3.1).
3.2 Restated Bylaws of the Company (Exhibit 3.2).
4.2 Form of Common Stock Certificate (Exhibit 4.2).
9.1 Voting Agreement (Exhibit 9.1).
10.1 1995 Stock Option Plan, as amended, Form of Incentive Stock
Option Agreement and Form of Nonqualified Stock Option Agreement
(Exhibit 10.2).
10.2 Elliot P. Friedman Employment Agreement, as amended (Exhibit
10.3).
10.3 Tasneem A. Khwaja Employment Agreement, as amended (Exhibit
10.4).
10.4 Canadian National Research Council Agreement (Exhibit 10.6).
10.5 Dimension Memory, Inc. Personal Services Agreement (Exhibit
10.7).
10.6 Sublease dated November 27, 1995 for the Company's headquarters
facilities (Exhibit 10.8).
10.7 Research Agreement dated March 1, 1995 between the Company and
USC (Exhibit 10.9).
10.8 License Agreement dated March 1, 1995 between the Company and
USC, and related Registration Rights Agreement and Stock Waiver
(Exhibit 10.10).
10.9 Letter of Engagement between the Company and Advanced Bioresearch
Associates (Exhibit 10.11).
10.10 Bridge Note and related Warrant (Exhibit 10.12).
10.11 Shareholders Agreement (Exhibit 10.13).
10.12 Agreement among Elliot Friedman, Tasneem Khwaja and the Company
(Exhibit 10.15).
10.13 Registration Rights Agreement with D-RAM Industries Pty Ltd.
(Exhibit 10.16).
10.14 Registration Rights Agreement with JadiJo, Inc. (Exhibit 10.17)
10.15 Form of Registration Rights Agreement with Private Placement
Purchasers (Exhibit 10.18).
10.16 First Amendment to License Agreement between the Company and USC
(Exhibit 10.19).
10.17 Research Agreement (Non-Clinical) between the University of Miami
and the Company and related Confidentiality Agreement (Exhibit
10.20).
10.18 Warrant dated August 19, 1996 (Exhibit 4.1).
(b) No reports on Form 8-K were filed during the three months ended June 30,
1996.
-12-
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
ABT GLOBAL PHARMACEUTICAL CORP.
Registrant
Date: September 26, 1996 /s/ Elliot P. Friedman
---------------------------------------
Elliot P. Friedman
President, Chief Executive Officer,
Chief Financial Officer and Director
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