UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-QSBA
(Mark One)
[X] Quarterly report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 For the period ended March 31, 1996
OR
[ ] Transition report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 Commission File Number: 0-25678
MUSTANG SOFTWARE, INC.
(Exact name of registrant as specified in its charter)
California
(State of incorporation)
77-0204718
(I.R.S. employer
identification number)
6200 Lake Ming Road
Bakersfield, California 93306
(Address of principal executive offices)
(805) 873-2500
(Registrant's telephone number, including area code)
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 [ X ] No [ ]
As of May 5, 1996, there were 3,358,200 shares of the Registrant's
Common Stock outstanding.
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<PAGE>
SIGNATURES
In accordance with the requirements of the Securities Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
Signature Title Date
/s/ James A. Harrer
-------------------------
James A. Harrer President and Chief Executive
Officer (Principal Executive
Officer) and a Director August 13, 1996
/s/ Donald M. Leonard
-------------------------
Donald M. Leonard Vice President Finance and
Chief Financial Officer
(Principal Financial and
Accounting Officer) August 13, 1996
<PAGE> 1 EXHIBIT 11.
MUSTANG SOFTWARE, INC.
COMPUTATION OF EARNINGS PER SHARE
(In thousands, except earnings per share) (Unaudited)
- - -----------------------------------------------------------------------------
<TABLE>
Three Months Ended
Mar 31,
1995 1996
- - -----------------------------------------------------------------------------
<S> <C> <C>
Weighted average number of common shares outstanding 2,106 3,358
Common stock equivlents from outstanding stock options 25 0
- - -----------------------------------------------------------------------------
Average common and common stock equivalents outstanding 2,131 3,358
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Net Income $ 12 $ (651)
===============================================================================
Earnings per share (1) $ .01 $ (.19)
===============================================================================
</TABLE>
(1) Fully diluted earnings per share have not been presented because the effects
are not material.
- - -----------------------------------------------------------------------------
<PAGE>
- - -----------------------------------------------------------------------------
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
ACCOMPANYING FINANCIAL STATEMENTS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH FINANCIAL STATEMETENTS.
</LEGEND>
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> MAR-31-1996
<CASH> $5,037,683
<SECURITIES> 0
<RECEIVABLES> 1,289,251
<ALLOWANCES> 825,000
<INVENTORY> 324,964
<CURRENT-ASSETS> 6,235,917
<PP&E> 1,303,424
<DEPRECIATION> 318,653
<TOTAL-ASSETS> 7,267,536
<CURRENT-LIABILITIES> 1,281,233
<BONDS> 385,557
0
0
<COMMON> 6,601,633
<OTHER-SE> (1,000,887)
<TOTAL-LIABILITY-AND-EQUITY> 7,267,536
<SALES> 1,203,354
<TOTAL-REVENUES> 1,203,354
<CGS> 217,736
<TOTAL-COSTS> 217,736
<OTHER-EXPENSES> 1,711,555
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 11,254
<INCOME-PRETAX> (651,370)
<INCOME-TAX> (651,370)
<INCOME-CONTINUING> (651,370)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (651,370)
<EPS-PRIMARY> (.19)
<EPS-DILUTED> (.19)
</TABLE>
