-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JR8sqcTOtWiFvATr8NkhSZUw5XkLFId7eHilpNPTUMJI9w/xml/CAtD+f+zZlanG gAt5epNgDZByVcJ2NXR7yg== 0001157523-03-001042.txt : 20030415 0001157523-03-001042.hdr.sgml : 20030415 20030415122216 ACCESSION NUMBER: 0001157523-03-001042 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030408 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030415 FILER: COMPANY DATA: COMPANY CONFORMED NAME: OXIS INTERNATIONAL INC CENTRAL INDEX KEY: 0000109657 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 941620407 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-08092 FILM NUMBER: 03649937 BUSINESS ADDRESS: STREET 1: 6040 N CUTTER CIRCLE STE 317 CITY: PORTLAND STATE: OR ZIP: 97217 BUSINESS PHONE: 5032833911 MAIL ADDRESS: STREET 1: 6040 N CUTTER CIRCLE STE 317 CITY: PORTLAND STATE: OR ZIP: 97217 FORMER COMPANY: FORMER CONFORMED NAME: DIAGNOSTIC DATA INC /DE/ DATE OF NAME CHANGE: 19850312 FORMER COMPANY: FORMER CONFORMED NAME: DDI PHARMACEUTICALS INC DATE OF NAME CHANGE: 19920703 8-K 1 a4375479.txt OXIS INTERNATIONAL 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ----------------- FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 8, 2003 OXIS INTERNATIONAL, INC. (Exact name of Registrant as specified in its charter) Delaware 0-8092 94-1620407 (State or other jurisdiction (Commission File No.) (IRS Employer of incorporation) Identification No.) 6040 N. Cutter Circle, Suite 317, Portland, Oregon 97217 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (503) 283-3911 Not applicable (Former name or former address, if changed since last report) Item 9. Regulation FD Disclosure This Current Report on Form 8-K is being furnished pursuant to Item 12, "Results of Operations and Financial Condition," in accordance with interim procedures promulgated by the Securities and Exchange Commission in Release No. 33-8176 that were issued March 28, 2003. See "Item 12. Results of Operations and Financial Condition" below. Item 12. Results of Operations and Financial Condition. On April 8, 2003, OXIS International, Inc., issued a press release announcing its sales results for the year ended December 31, 2002. The text of the press release, which is attached as Exhibit 99.1, is incorporated by reference in its entirety. 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 hereunto duly authorized. OXIS International, Inc. (Registrant) Date: April 11, 2003 /s/ Sharon Ellis --------------------------------------- Sharon Ellis Chief Operating and Financial Officer 2 EXHIBIT INDEX Exhibit Number Description - ------ ----------- 99.1 Press Release issued by OXIS International, Inc., on April 8, 2003 3 EX-99 3 a4375479ex99.txt EXHIBIT 99.1 PRESS RELEASE Exhibit 99.1 OXIS International Reports 2002 Results; Company Reduces Loss for the Second Straight Year and Launches Animal Health Profiling in the Cattle Industry PORTLAND, Ore.--(BUSINESS WIRE)--April 8, 2003--OXIS International, Inc. (OTCBB:OXIS) (Nouveau Marche:OXIS) today announced 2002 year-end results, highlighting expanded distribution channels for the Company's research products and commercial applications for the profiling of cattle's susceptibility to disease. For the year ended December 31, 2002, the Company reported revenues of $2,050,000, a decrease from $2,968,000 reported in 2001. Cost of sales dropped from 82% in 2001 to 56% in 2002. Sales, general and administrative costs also declined to $1,258,000 in 2002, down from $2,287,000 in 2001. The net loss for the year was $822,000 or $0.08 per share, as compared to $3,495,000, or $0.36 per share in 2001. The 2002 research and development expenses were $463,000 compared to $762,000 in 2001. "During 2002, we continued with cost reduction and expansion of new products and technologies into the market place and expanded the distribution channels for our world class oxidative stress research products," said Sharon Ellis, OXIS C.O.O. and C.F.O. "In addition to geographic expansion, new applications for OXIS' technologies have been developed and analyzed relative to the profiling of cattle's susceptibility to disease." OXIS, headquartered in Portland, Oregon, focuses on developing technologies and products to research, diagnose, treat and prevent diseases associated with damage from free radical and reactive oxygen species -- diseases of oxidative stress. The Company holds the rights to three therapeutic classes of compounds in the area of oxidative stress and, through its Health Products division, develops, manufactures and markets products and technologies to diagnose and treat diseases caused by oxidative stress. This press release contains forward-looking statements that involve risks and uncertainties. Such uncertainties include the Company's ability to fund, partner, out-license or otherwise support certain of its assets; to establish relationships with third parties at terms favorable to the Company; and other risks detailed in the Company's filings with the SEC. These factors could cause actual results to differ materially from those projected in the forward-looking statements. CONDENSED UNAUDITED CONSOLIDATED STATEMENT OF OPERATIONS Year ended December 31, 2002 2001 Total revenues $ 2,050,000 $ 2,968,000 Cost and expenses: Cost of sales 1,140,000 2,430,000 Research & development 463,000 762,000 Sales, general & admin. 1,258,000 2,287,000 Write down of inventory and equipment -- 942,000 ------------------------------------- Total costs & expenses 2,861,000 6,421,000 ------------------------------------- Operating loss (811,000) (3,453,000) Litigation settlement -- (57,000) Interest income (expense), net (11,000) 15,000 ------------------------------------- Net loss $ (822,000) $(3,495,000) ===================================== Net loss per share $ (.08) $ (.36) ===================================== UNAUDITED CONSOLIDATED BALANCE SHEET INFORMATION December 31, 2002 2001 Current assets $1,051,000 $ 706,000 Total assets 1,985,000 1,721,000 Current liabilities 767,000 1,186,000 Total equity 1,218,000 553,000 CONTACT: for OXIS International, Inc. Investor Relations: Investor Awareness, Inc. Tony Schor/Paul Arndt, 847/945-2222 info@investorawareness.com or Media Relations: Obidicut LLC Will Anderson, 503/452-7621 will@obidicut.net -----END PRIVACY-ENHANCED MESSAGE-----