SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Amendment No. 1
to
FORM 10-Q
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended December 31, 1996
OR
[ ] TRANSACTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from ___________ to __________
Commission File Number 1-5270
SOFTNET SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
NEW YORK 11-1817252
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
520 Logue Avenue, Mountain View, CA 94043
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (650) 965-3700
NOT APPLICABLE
(Former name, former address and former fiscal year, if changed since last
report)
Indicate by check or mark whether the registrant (1) has filed all documents and
reports required to be filed by Sections 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or period 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 .
Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.
Common Stock - 6,564,455 shares at December 31, 1996.
Part II
Item 2: On December 20, 1996, the Company issued 10,000 shares of common
stock to Cleary Gull Reiland and McDevitt ("Cleary") in consideration for
services rendered by Cleary in the approximate amount of $44,000 in connection
with certain acquisitions made by the Company. These shares were issued in a
nonpublic offering pursuant to transactions exempt under Section 4(2) of the
Securities Act.
On November 15, 1996, the Company issued 24,390 shares of common stock
pursuant to the conversion of $100,000 of convertible debt by a single holder of
the Company's 10% convertible subordinated notes due October 31, 1999. These
10% notes have a conversion price of $4.10.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
SOFTNET SYSTEMS, INC.
(Registrant)
DATE: January 28, 1998 By: /s/ A.J.R. Oosthuizen
A.J.R. Oosthuizen
President and Chief Executive Officer
