-----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, TJLgaEc9r6ohgQElheUE0nRhjAk099WakGL2pZYIgRRS8ipLaLSZGGT5fYVw/TVG yV2ijuxH3kNgLyk+cn+tKg== 0000067383-95-000007.txt : 19951119 0000067383-95-000007.hdr.sgml : 19951119 ACCESSION NUMBER: 0000067383-95-000007 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19950930 FILED AS OF DATE: 19951114 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: MICRO GENERAL CORP CENTRAL INDEX KEY: 0000067383 STANDARD INDUSTRIAL CLASSIFICATION: MISC INDUSTRIAL & COMMERCIAL MACHINERY & EQUIPMENT [3590] IRS NUMBER: 952621545 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-08358 FILM NUMBER: 95591139 BUSINESS ADDRESS: STREET 1: 1740 E WILSHIRE AVE CITY: SANTA ANA STATE: CA ZIP: 92705 BUSINESS PHONE: 7146670557 MAIL ADDRESS: STREET 1: 1740 E WILSHIRE AVE CITY: SANTA ANA STATE: CA ZIP: 92705-4615 FORMER COMPANY: FORMER CONFORMED NAME: MODULEARN INC DATE OF NAME CHANGE: 19810813 10-Q 1 FORM 10-Q FOR THE PERIOD ENDING SEPTEMBER 31, 1995 1 ================================================================================ ================================================================================ FORM 10-Q SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) [ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For quarterly period ended : September 30, 1995 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: 0-8358 Micro General Corporation (Exact name of registrant as specified in its charter) Delaware 95-2621545 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification Number) 1740 Wilshire Ave. Santa Ana, California 92705 (Address of principal executive offices) (Zip Code) (714) 667-0557 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 periods 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 [ ] The number of shares outstanding of Common Stock, $.05 Par Value - 1,948,166 shares as of November 13, 1995. ================================================================================ ================================================================================ 2 MICRO GENERAL CORPORATION FORM 10-Q - QUARTER ENDED SEPTEMBER 30, 1995 TABLE OF CONTENTS PART I. FINANCIAL INFORMATION Item 1. Financial Statements. Balance Sheets -- September 30, 1995 and December 31, 1994 Statements of Operations -- Three months ended September 30, 1995 and September 30, 1994. Statements of Operations -- Nine months ended September 30, 1995 and September 30, 1994 Statements of Cash Flows -- Nine months ended September 30, 1995 and September 30, 1994. Notes to Financial Statements Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. PART II. OTHER INFORMATION Item 4. Other Information Item 6. Exhibits and Reports on Form 8-K. SIGNATURES All other schedules are omitted as the required information is inapplicable or the information is presented in the financial statements or notes thereto. 3 FINANCIAL STATEMENTS MICRO GENERAL CORPORATION Balance Sheets September 30, 1995 and December 31, 1994
September 30, 1995 December 31, (unaudited) 1994 ------------ ------------ Assets Current assets: Cash $ 314,173 $ 152,848 Accounts and notes receivable, less allowance for doubtful receivables and sales returns of $ 51,936 at 9/30/95 and $81,749 at 12/31/94 461,682 618,434 Income tax refund receivable 7,000 7,000 Inventories (note 2) 1,069,735 1,140,183 Prepaid expenses and accrued interest 151,760 277,432 ---------- ---------- Total current assets 2,004,350 2,195,897 Equipment and improvements, net (note 3) 210,426 179,206 Other assets, net (note 4) 28,601 44,688 ---------- ---------- $ 2,243,377 $ 2,419,791 ========== ========== Liabilities and Stockholders' Equity: Current liabilities: Note payable to bank (note 6) $ 0 $ 0 Accounts payable 73,890 296,071 Accrued expenses 192,205 228,072 Deferred revenue 83,282 159,853 ---------- ---------- Total current liabilities 349,377 683,996 Stockholders' equity: Preferred stock, $.05 par value; 1,000,000 shares authorized no shares issued and outstanding at 9/30/95 and 12/31/94. -- -- Common stock, $.05 par value; 4,000,000 shares authorized 1,948,166 shares issued at 9/30/95 and 1,888,166 shares at 12/31/94 (note 1) 97,408 94,408 Additional paid-in capital 4,174,508 4,111,883 Accumulated deficits (2,377,916) (2,470,496) ----------- ----------- Total stockholders' equity 1,894,000 1,735,795 ----------- ---------- $ 2,243,377 $ 2,419,791 =========== ========== See accompanying notes to financial statements.
4 MICRO GENERAL CORPORATION Statements of Operations For the Three Months Ended September 30, 1995 and September 30, 1994 (Unaudited)
September 30, September 30, 1995 1994 ------------ ------------ Revenues: Product sales, net of returns of $84,144 in 1995 and $122,810 in 1994 $ 424,778 $ 650,390 Service and rate revenues (note 7) 322,385 182,930 ----------- ---------- Total revenues 747,163 833,320 Cost of sales: Net product sales 361,663 514,300 Service and rate revenues 107,802 69,252 ------------ ---------- Total cost of sales 469,465 583,552 ------------ ---------- Gross profit 277,698 249,768 Operating expenses: Selling, general and administrative 403,624 345,914 Engineering and development 122,104 90,241 Provision for doubtful receivables (42,000) (9,000) ------------ ----------- Total operating expenses 483,728 427,155 ------------ ----------- Operating loss (206,030) (177,387) Interest income, net 6,100 1,904 ------------ ----------- Loss before income taxes (199,930) (175,483) Income taxes (note 5) 0 0 ------------ ----------- Net loss $ (199,930) $ (175,483) ============ =========== Net loss per common and common equivalent share (note 1) $ (0.10) $ (0.09) ============ =========== Weighted average shares outstanding (note 1) 1,948,166 1,885,103 ============ =========== See accompanying notes to financial statements.
5 MICRO GENERAL CORPORATION Statements of Operations For the Nine Months Ended September 30, 1995 and September 30, 1994 (Unaudited)
September 30, September 30, 1995 1994 ------------ ------------ Revenues: Product sales, net of returns of $381,291 in 1995 and $258,750 in 1994) $ 1,389,666 $ 2,146,964 Service and rate revenues (note 7) 2,196,181 1,532,651 ------------ ------------ Total revenues 3,585,847 3,679,615 Cost of sales: Net product sales 1,156,587 1,687,759 Service and rate revenues 587,855 428,700 ------------ ------------ Total cost of sales 1,744,442 2,116,459 Gross profit 1,841,405 1,563,156 Operating expenses: Selling, general and administrative 1,299,486 1,255,222 Engineering and development 489,276 297,399 Provision for doubtful receivables (29,000) 17,000 ------------ ------------ Total operating expenses 1,759,762 1,569,621 ------------ ------------ Operating profit (loss) 81,643 (6,465) Interest income, net 10,937 6,702 ------------ ------------ Earnings before income taxes 92,580 237 Income taxes (note 5) 0 0 ------------ ----------- Net earnings $ 92,580 $ 237 ============ =========== Net earnings per common and common equivalent share (note 1) $ 0.05 $ 0.00 ============ =========== Weighted average shares outstanding (note 1) 1,939,595 1,883,205 ============ =========== See accompanying notes to financial statements.
6 MICRO GENERAL CORPORATION Statements of Cash Flows For the Nine Months Ended September 30, 1995 and September 30, 1994 (Unaudited)
September 30, September 30, 1995 1994 ------------- ------------- Cash flows from operating activities: Net earnings $ 92,580 $ 237 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization 76,613 77,857 Provision for losses on accounts receivable and sales returns, net of write-offs (29,814) 6,326 Change in assets and liabilities: Decrease in accounts receivable 186,566 236,590 (Increase) decrease in inventories 70,448 (86,648) Decrease in prepaid expenses 125,672 40,170 Decrease in accounts payable (222,181) (35,063) Increase (decrease) in deferred revenue (76,571) 53,167 Decrease in accrued expenses (35,867) (61,238) ------------ ----------- Total adjustments 94,866 231,161 ------------ ----------- Net cash provided by operating activities 187,446 231,398 Cash flows used in investing activities --capital expenditures (91,746) (61,678) Cash flows from financing activities: Common stock proceeds, net 65,625 4,689 Repayment of note payable to bank 0 (100,000) ------------ ----------- Net cash used by financing activities 65,625 (95,311) ------------ ----------- Net increase in cash 161,325 74,409 Cash - beginning of year 152,848 85,513 ------------ ----------- Cash - end of period $ 314,173 $ 159,922 ============ =========== Supplemental disclosures of cash flow information: Cash paid during the period for: Interest $ 0 $ 0 ============ =========== Income taxes $ 0 $ 0 ============ =========== See accompanying notes to financial statements
7 MICRO GENERAL CORPORATION FORM 10-Q -- QUARTER ENDED SEPTEMBER 30, 1995 NOTES TO FINANCIAL STATEMENTS Note 1. Summary of Significant Accounting Policies General The operations of Micro General Corporation (the "Company") consist of the design, manufacture and sale of computerized parcel shipping systems, postal scales and piece-count scales. The financial statements presented include, in the opinion of management, all adjustments (consisting only of normal recurring adjustments) necessary for fair presentation of the results of operations for the periods presented. The results of operations for the nine months ended September 30, 1995, are not necessarily indicative of results that may be expected for any other interim period or for the full year ending December 31, 1995. Inventories Inventories are stated at the lower of cost (first-in, first-out) or market (net realizable value). Equipment and Improvements Equipment and improvements are stated at cost. Depreciation and amortization are provided using the straight-line method over the estimated useful life of the equipment and improvements. Net Earnings (Per Common Share) Net Earnings per common share is computed based on the weighted average of common shares outstanding. The potential exercise of stock options is included in the computation of net earnings per common share and common share equivalents. Income Taxes In February 1992, the Financial Accounting Standards Board issued Statement 109, "Accounting for Income Taxes" ("SFAS 109"). The Company currently accounts for income taxes under Statement of Financial Accounting Standard No. 96, "Accounting for Income Taxes" ("SFAS 96"). Under this method, the Company provides for deferred income taxes using an asset and liability approach for transactions which affect pretax earnings (loss) for financial and income tax reporting purposes in different periods. The current and deferred tax consequences are measured by applying the provisions and rates of enacted tax laws. SFAS 109 also uses the asset and liability method. The objective of the asset and liability method under SFAS 109 is to establish deferred 8 MICRO GENERAL CORPORATION FORM 10-Q -- QUARTER ENDED SEPTEMBER 30, 1995 NOTES TO FINANCIAL STATEMENTS tax assets and liabilities for the temporary differences between the financial reporting basis and the tax basis of the Company's assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized or settled. SFAS was first adopted in the period ended December 31, 1994 and no net material impact was recognized for that period or the nine months ended September 30, 1995. Warranties The Company's products are sold with a ninety-day warranty on materials and workmanship. Estimated warranty costs based on historical experience are accrued as an expense at the time the products are sold. Intangible Assets Intangible assets are classified under other assets and are amortized on a straight-line basis over periods ranging from 10 to 15 years (see note 4). Deferred Revenue The Company collects fees from its customers in anticipation of future rate changes. Customers prepaying future rate changes receive memory chips with the new tariffs without paying an additional charge. Rate change fees are recorded as revenue on a pro rata basis over the prepaid period. Revenue Recognition Product sales are recorded by the Company when products are shipped to dealers and customers. Rate change revenues are recorded by the Company at the time memory chips are reprogrammed with new tariffs and shipped to the customer. Sales Returns The majority of the Company's product sales are to its authorized dealers who resell the Company's products. The Company's policy is that all sales are final, but dealers may, at the Company's sole discretion and subject to a restocking fee, return certain out-of-warranty products in exchange for products of comparable sales value. Additionally, dealers may, at the Company's sole discretion, be permitted to return their unopened inventory in the event they or the Company terminate their dealership agreement, again subject to a restocking fee. Upon acceptance of returned goods, the Company reconditions the goods, at a nominal cost, and restocks them in inventory to be sold at a later date. The Company provides an allowance for such returns equal to the estimated gross profit on the portion of sales estimated to be returned. This specific allowance is 9 MICRO GENERAL CORPORATION FORM 10-Q -- QUARTER ENDED SEPTEMBER 30, 1995 NOTES TO FINANCIAL STATEMENTS a component of the Company's allowance for doubtful receivables and sales returns. Post Retirement Benefits The Company does not have any postretirement benefits falling within the scope of Statement of Financial Accounting Standards No. 106, "Employers' Accounting for Postretirement Benefits Other Than Pensions." Note 2. Inventories Inventories are comprised of the following at September 30, 1995 and December 31, 1994:
September 30, 1995 December 31, 1994 Parts & Supplies $ 775,837 $ 753,456 Purchased finished goods 251,346 292,099 Consigned inventory 42,552 94,628 ---------- ---------- $1,069,735 $1,140,183 ========== ==========
Note 3. Equipment and Improvements Equipment and improvements are as follows at September 30, 1995 and December 31, 1994:
September 30, 1995 December 31, 1994 Production equipment, tooling and construction in process $ 435,732 $ 424,848 Office furniture and equipment 556,694 484,229 Leasehold improvements 27,776 19,381 ----------- --------- 1,020,202 928,458 Less accumulated depreciation and amortization 809,776 749,252 ----------- --------- $ 210,426 $ 179,206 =========== =========
10 MICRO GENERAL CORPORATION FORM 10-Q -- QUARTER ENDED SEPTEMBER 30, 1995 NOTES TO FINANCIAL STATEMENTS Note 4. Other Assets Other assets are as follows at September 30, 1995 and December 31, 1994:
Estimated Useful Life 1995 1994 Excess cost of assets purchased over fair market value 15 years $232,531 $232,531 License rights 10 years 26,382 26,382 Other intangible assets 15 years 23,388 23,388 -------- -------- $282,301 $282,301 Less accumulated amortization 253,700 237,613 -------- -------- $ 28,601 $ 44,688 ======== ========
Note 5. Income Taxes The expected income tax expense(benefit) computed by multiplying earnings (loss) before income tax expense by the statutory Federal income tax rate of 34% differs from the actual income tax expense as follows:
September 30, September 30, 1995 1994 ------------- ----------- Expected tax expense $ 31,477 $ 81 Utilization of net operating loss carryforward (34,477) (3,081) Nondeductible amortization of the excess cost of assets purchased over fair market value 3,000 3,000 State income taxes - - ------------- ----------- $ 0 $ 0 ============= ===========
At September 30, 1995 and December 31, 1994, the Company had available net operating loss carryforwards of approximately $1,649,000 and $228,000 for Federal and state income tax purposes, respectively. If not used to offset future taxable income, the net operating loss carryforwards will expire for income tax purposes at various dates through 2009. The Company also has investment tax credit and research and experimentation credit carryforwards aggregating approximately $85,000 which expire during the period 1995 to 2001. 11 MICRO GENERAL CORPORATION FORM 10-Q -- QUARTER ENDED SEPTEMBER 30, 1995 NOTES TO FINANCIAL STATEMENTS Note 6. Notes Payable The Company had a line of credit, which expired May 1995, which was secured by substantially all of the Company's assets and could not exceed 70% of qualifying accounts receivable up to a maximum credit line of $500,000. The interest rate on the line of credit was at the bank's prime rate plus 2.0%. At December 31, 1994 the Company received a waiver on an existing default which was subsequently cured. A credit commitment letter was signed between the Company and a new bank on November 2, 1995, for a new line of credit of $600,000 at Wall Street Journal Prime plus one and three-quarters percent secured by accounts receivable and inventory balances, as defined in the commitment letter. Note 7. Commitments and Contingencies Non cancelable operating lease commitments consist principally of the lease for the Company's manufacturing and administrative facility in California and the research and development facility in Connecticut through 1999. At September 30, 1995, the Company is committed to the following noncancelable operating lease payments:
Year ending December 1995 $ 32,164 1996 131,267 1997 137,945 1998 122,123 Thereafter 29,478 ---------- $ 452,977 ==========
At September 30, 1995 and December 31, 1994, the Company was liable for approximately $180,254 and $185,475, respectively for outstanding letters of credit to procure inventory from overseas vendors. These transactions relate solely to transactions denominated in U.S. dollars. The Company has a license agreement with Pitney Bowes which enables the Company to manufacture and sell certain products. The license agreement expires in 2004. Annual expenses for the license agreement are minor. From time to time, the United State Postal Service ("USPS") and/or United Parcel Service ("UPS") change their rates. For a fee, the Company provides its customers with programmable memory chips with the new tariffs which can be inserted into the Company's products. In some instances, customers prepay a fee to the Company which assures they will receive new programmable memory chips for all rate changes which occur within a predetermined period. In other instances, customers incur a fee for each time 12 MICRO GENERAL CORPORATION FORM 10-Q -- QUARTER ENDED SEPTEMBER 30, 1995 NOTES TO FINANCIAL STATEMENTS they decide to procure a new programmable memory chip. The Company experienced a UPS rate change during the nine months ended September 30, 1995 and September 30, 1994, and a USPS rate change during the nine months ending September 30, 1995. Recorded revenues from rate changes totaled approximately $2,042,156 and $1,282,623 respectively. Gross profit totaled $1,662,132 and $1,032,306 also for the same periods. 13 MICRO GENERAL CORPORATION FORM 10-Q -- QUARTER ENDED SEPTEMBER 30, 1995 MANAGEMENT DISCUSSION AND ANALYSYS Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Results of Operations Total net product sales decreased $225,612 or 35% in three months ended September 30, 1995 ("Q3 1995") compared to the three months ended September 30, 1994 ("Q3 1994") while service and rate change revenues increased $139,455 or 76%. The decrease in net product sales was the main component in the $86,157 or 10% decrease in total revenue during Q3 1995 as compared to Q3 1994. The decrease in net product sales of $757,298 or 35% for nine months ended September 30, 1995("YTD 1995") as compared to the nine months ended September 30, 1994 ("YTD 1994") was offset by the $663,530 or 43% increase in service and rate change revenues for the same period. For YTD 1995 and YTD 1994, service and rate change revenues represented approximately 61% and 42% of total revenue, respectively. The increase in rate change revenues for YTD 1995 as compared to YTD 1994, was primarily a result of a major USPS rate change in Q1 and a minor USPS rate change in Q3 1995. YTD sales in the retail channel of distribution decreased $61,611 or 12% as compared to YTD 1994, while the sales in the historical dealer channel decreased $692,595 or 42%. This decrease is primarily the result of United Parcel Services activities to provide free equipment to a large portion of the Company's customer target market for shipping room manifest systems. The decline in the Company's retail channel sales volume described above, was due to unit price erosion as well as product mix. The Company is continuing its efforts to add products through outside distribution agreements as well as through its own research and development efforts. YTD 1995 cost of sales for product sales decreased $531,172 or 32% as compared to the same period in 1994. The decrease is due to a change in product mix and a decrease in overall product sales. The YTD 1995 service and rate change revenue costs increased $161,359 or 38% as compared to the same period in 1994. The cost goods increase is due to an increase in service and rate change revenues for the same period. Gross margin YTD 1995 was 51% compared to 42% for the same period the prior year. The increase in gross margin is due to higher rate change revenue. Operating expenses of the Company in YTD 1995 of $1,759,762 showed an 12% increase as compared to YTD 1994. The primary reason is due to an increase of $191,877 or 65% in engineering and development expense which is a result of research & development work on products to increase the Company's future product line offering. Normal operating expenses are expected to essentially remain the same in future periods. The increase in YTD net earnings of $92,343 as compared to the same period in 1994, is a result of the increase in rate change revenue. Net loss for Q3 1995 increased $24,447 or 14% as compared to Q3 1994. This increase in the net loss is primarily due to lower net product sales which decreased $225,612 or 35% as compared to the prior period. Financial Condition, Liquidity and Capital Resources The Company's ability to generate cash depends on rate change revenue, the sale of inventory and collection of accounts receivable. The Company's September 30, 1995 cash balance increased $161,325 or 106% from 14 MICRO GENERAL CORPORATION FORM 10-Q -- QUARTER ENDED SEPTEMBER 30, 1995 MANAGEMENT DISCUSSION AND ANALYSYS December 31, 1994. The increase is primarily attributable to the cash generated from prepaid rate change revenue derived from the USPS rate change effective January 1995 and September 1995 and the UPS rate change effective February 1995. The Company's September 30, 1995 net accounts receivable balance decreased $156,752 or 25% from December 31, 1994 levels. This decrease is due to a decrease in product sales for the YTD 1995 period. Working capital was $1,654,973 at September 30, 1995 as compared to $1,511,901 at December 31, 1994. The Company's current ratio at September 30, 1995 was 5.7 as compared to 3.2 at December 31, 1994. This change is a result of higher cash balances at September 30, 1995 due to the Q1 1995 rate changes and lower liabilities at September 30, 1995 which is due to a decrease in deferred rate change agreement revenue as the agreements are nearing the end their one year term. These agreements are expected to be renewed during Q4 1995. The Company's total inventories decreased 70,448 or 6% at September 30, 1995 as compared to December 31, 1994 was due mostly to shipments of rate change chips which had been accumulated at December 31, 1994. The Company had no bank debt or line of credit agreement with a bank (See note 6, of Notes to the Financial Statements). The line of credit previously held by the Company, was based upon certain qualified accounts receivable balances with maximum availability of $500,000. A new banking relationship has been established which is anticipated to include various financing arrangements and servicing of the Company's cash requirements. A credit commitment letter was signed between the Company with the new bank on November 2, 1995. The credit commitment is for a revolving line of credit of $600,000 at Wall Street Journal Prime plus one and three-quarter percent secured by accounts receivable and inventory balances, as defined in the commitment letter. The Company's Q3 1995, current liabilities have decreased 49% compared to the December 31, 1994 balances. This is associated with a decrease in the Company's accounts payable balance and deferred rate change agreement revenue as compared to the December 31, 1994 balance. The Company believes future liquidity requirements will be covered from operations and financing arrangements. The Company's investment in capital expenditures for YTD 1995 increased slightly over December 31, 1994 balances. There were no material commitments for capital expenditures as of September 30, 1995. The Company does not anticipate any significant capital expenditures during the remainder of 1995. The Company does not have any material off balance sheet risks at September 30, 1995. The Company does not engage in any off balance sheet financing. Inflation The effect of inflation on operating results has, historically, been insignificant. 15 MICRO GENERAL CORPORATION FORM 10-Q -- QUARTER ENDED SEPTEMBER 30, 1995 PART II - OTHER INFORMATION PART II - OTHER INFORMATION ITEM 5. OTHER INFORMATION On July 27, 1995, Mr. Gerald Simmons was named Vice-President of Sales and Marketing. Mr. Simmons was formerly with MOS Scale in Costa Mesa, California. ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K a. Exhibits (listed by numbers corresponding to the Exhibit Table of Item 601 of Regulation S-K): 11. Computation of earnings (loss) per share is not provided as the calculation can be clearly determined from the material contained in Item 1 of Part I. b. The Company did not file any reports on Form 8-K during the three months ended September 30, 1995. 16 MICRO GENERAL CORPORATION FORM 10-Q -- QUARTER ENDED SEPTEMBER 30, 1995 PART II - SIGNATURES SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. MICRO GENERAL CORPORATION Date: November 13, 1995 /s/ Thomas E. Pistilli --------------------------------- Thomas E. Pistilli President Chief Executive Officer Chief Financial Officer /s/ Linda I. Morton --------------------------------- Linda I. Morton Controller EX-27 2 ARTICLE 5 FIN. DATA SCHEDULE FOR 3RD QTR 10-Q
5 1 9-MOS Dec-31-1995 JAN-01-1995 SEP-30-1995 314,173 0 513,618 51,936 1,069,735 2,004,350 1,020,202 809,776 2,243,377 349,377 0 97,408 0 0 4,174,508 2,243,377 3,585,847 3,585,847 1,744,442 1,744,442 1,788,762 (29,000) 0 92,580 0 92,580 0 0 0 92,580 .05 .05
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