-----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, TGmiikh8uB79LFnj1/zITVsD4w9DoS3TyrzAIjQCUoxoRzYghYN31I0kcYKic6NJ xleDCNNEuwg+kBqKnIfJow== 0000722839-97-000004.txt : 19970222 0000722839-97-000004.hdr.sgml : 19970222 ACCESSION NUMBER: 0000722839-97-000004 CONFORMED SUBMISSION TYPE: 10QSB/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960930 FILED AS OF DATE: 19970212 SROS: AMEX FILER: COMPANY DATA: COMPANY CONFORMED NAME: PROACTIVE TECHNOLOGIES INC CENTRAL INDEX KEY: 0000722839 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MEDICAL LABORATORIES [8071] IRS NUMBER: 232265039 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 10QSB/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-08662 FILM NUMBER: 97526565 BUSINESS ADDRESS: STREET 1: 7118 BEECH RIDGE TRAIL STREET 2: SUITE 402 CITY: TALLAHASSEE STATE: FL ZIP: 32312 BUSINESS PHONE: 9046685800 MAIL ADDRESS: STREET 1: 7118 BEECH RIDGE TRAIL STREET 2: SUITE 402 CITY: TALLAHASSEE STATE: FL ZIP: 32312 FORMER COMPANY: FORMER CONFORMED NAME: KEYSTONE MEDICAL CORPORATION DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: KEYSTONE MEDICAL CORP INC DATE OF NAME CHANGE: 19910103 10QSB/A 1 FORM 10-QSB/A SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Quarterly Report Under Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarter Ended: September 30, 1996 Commission File Number: 1-8662 PROACTIVE TECHNOLOGIES, INC. (formerly KEYSTONE MEDICAL CORPORATION) (Exact name of registrant as specified in its charter) Delaware 23-2265039 (State of Incorporation) (I.R.S. Employer ID No.) 7118 Beech Ridge Trail, Tallahassee, Florida 32312 (Address of principal executive offices) (Zip Code) (904) 668-8500 (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 such shorter period that registrant was to require such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes __________ No ___X_____ Check whether the registrant filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court. Yes ___X____No ________ The number of shares outstanding of registrant's common stock, par value $.04 per share, as of February 1, 1997 was 13,229,342. Transitional Small Business Disclosure Format (Check one): Yes ________ No ___X____ PROACTIVE TECHNOLOGIES, INC. Table of Contents Page No. PART I FINANCIAL INFORMATION Item 1.(a) Introduction 3 Item 1.(b) Condensed Consolidated Financial Statements (Unaudited) Condensed Consolidated Balance Sheets 4 September 30, 1996 and June 30, 1996 Condensed Consolidated Statements of Income for the Three Months Ended September 30, 1996 and 1995 5 Condensed Consolidated Statements of Cash Flows for the Three Months Ended September 30, 1996 and 1995 6 Notes to Condensed Consolidated Financial Statements 7-9 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 10-12 PART II OTHER INFORMATION Item 1. Legal Proceedings 12 Item 6. Exhibits and Reports on Form 8-K 12 SIGNATURE 13 Item 1.(a) Introduction As reported on Form 10-QSB on October 15, 1996 and on Form 8-K filed on February 12, 1996 (conforming copy filed on EDGAR on October 6, 1996), and Form 8-K/A filed (electronically) on October 10, 1996, on February 12, 1996, Proactive Technologies, Inc. ("PTE") acquired 100% of the issued and outstanding common stock of Capital First Holdings, Inc. ("Capital First"). In connection with the preparation and audit of PTE's financial statements for the fiscal year ending June 30, 1996, it was determined that such a transaction was a reverse acquisition, and would be treated, for financial reporting purposes, as the acquisition of PTE by Capital First. Under this treatment as a reverse acquisition, the historical information is that of Capital First. To be consistent with the reporting of the Form 10-KSB as a reverse acquisition, this Form 10-QSB for the three months ending September 30, 1996 contains financial information for Capital First for the three months ending September 30, 1995 as comparisons to the three months ending September 30, 1996 reported in Form 10-QSB filed May 17, 1996 (conforming copy filed on EDGAR on October 12, 1996) are not applicable. The amendment for this September 30, 1996 Form 10-QSB is due to the fact that on November 16, 1996, the Company and the original owners of the 82% of QuinStone Industries, Inc. mutually decided to rescind its original agreement whereby the Company acquired 82% of QuinStone Industries, Inc. in exchange for 750,000 newly issued shares of restricted common stock, together with a registration rights agreement which provided for 225,000 additional shares to be issued if the restricted stock was not registered within one year. Following the rescission, the Company returned and signed over all shares of QuinStone Industries it had received, and received back its 750,000 shares. Additionally, and contemporaneously, James H. Dahl rescinded his agreement with the Company whereby in exchange for his 81,700 shares of Killearn Properties, Inc. stock he received 326,800 shares of Company stock. After the rescission, the Company returned the 81,700 shares of KPI stock and received back its 326,800 shares of Company stock. Because of the rescission, operations of QuinStone Industries, which were reported in Form 10-QSB for the three months ended September 30, 1996 (filed by EDGAR on November 14, 1996) from August 9, 1996 to September 30, 1996 have been removed from this amended Form 10-QSB. Additionally, the Company's interest in Killearn Properties, Inc. has been reduced by 81,700 in this amendment, and the weighted number of outstanding shares has been reduced from 14,306,142 to 13,229, 342 to account for the return of the above shares from the rescission of the QuinStone agreement and James H. Dahl KPI agreement. PROACTIVE TECHNOLOGIES, INC. AND SUBSIDIARIES (NOTE 1) CONDENSED CONSOLIDATED BALANCE SHEETS
September 30, June 30, 1996 1996 (Unaudited) (000's) ASSETS: Real estate inventories $36,072 $22,491 Cash and equivalents 501 271 Property and equipment, net 1,464 1,338 Deferred income taxes 294 284 Other assets 1,256 251 Investments 2,983 2,714 Notes Receivable 4,709 1,117 _________ ________ TOTAL ASSETS 47,279 28,466 ========= ======== LIABILITIES AND STOCKHOLDERS' EQUITY: Notes payable $ 23,525 $17,709 Accounts payable and accrued expenses 891 1,108 Income taxes payable 1,486 1,099 Deferred revenue 1,467 824 Deferred compensation payable 439 559 Customer deposits 745 740 ___________ ___________ Total Liabilities $ 28,553 22,039 Minority Interest $ 51 59 Stockholders' Equity: Common stock - par value $.04 per share; authorized 60,000,000 shares; issued 14,803,018 $ 644 496 Paid-in capital 16,450 5,317 Retained earnings 1,581 555 ________ _________ Total Stockholders' Equity 18,675 6,368 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 47,279 $ 28,466 ========= ======= See Accompanying Notes to Condensed Consolidated Financial Statements
PROACTIVE TECHNOLOGIES, INC. AND SUBSIDIARIES (NOTE 1) CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
Three Months Ended September 30 1996 1995 (000's) Net sales $ 6,000 $ 7,331 Cost of sales 3,769 6,087 Selling, general and administrative expenses 515 999 ____________ __________ Income from operations 1,716 245 Other Income (deductions) Interest (expense) (365) (927) Other income, net 107 (69) Minority Interest ( 21) 0 ____________ ____________ Income (loss) from continuing operations before income taxes 1,437 (751) _____________ ____________ Income tax expense (411) 0 _____________ ____________ Net income (loss) $ 1,026 $ (751) ============= ============ Net income per common and common equivalent share - primary and fully diluted $ .08 $ (.06) ============= ============ Adjusted shares outstanding primary and fully diluted 13,229,342 10,739,405 Dividends paid NONE NONE See Accompanying Notes to Condensed Consolidated Financial Statements
PROACTIVE TECHNOLOGIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
Three months ended September 30 1996 1995 (000's) Net Cash provided by operating activities (774) 1,362 ______________ _________ Cash Flows from Investing Activities Distribution from real estate ventures 21 0 Investment in real estate ventures (2) 0 Purchase of investments in equity securities (66) 0 Purchase of property and equipment 0 (1) ______________ __________ Net Cash used in investing activities (43) (1) ______________ __________ Cash Flows from Financing Activities: Proceeds from exercise of stock warrants 890 0 Proceeds from issuance of notes payable 1,616 2,101 Repayments of amounts borrowed (1,644) (3,466) ______________ ___________ Net Cash used by financing activities 862 (1,365) ______________ ___________ Net Increase (Decrease) in Cash and Cash Equivalents 45 (4) ______________ ___________ Cash and Cash Equivalents, Beginning of Period 154 179 ______________ ___________ Cash and Cash Equivalents, End of Period $ 199 $ 175 ============== ============ See Accompanying Notes to Condensed Consolidated Financial Statements
Notes to Condensed Consolidated Financial Statements (1) Basis of Financial Presentation On February 12, 1996, Proactive Technologies, Inc. ("PTE" or the "Company") acquired 100% of the outstanding common stock of Capital First Holdings, Inc. ("Capital First") in a reverse acquisition in which Capital First's sole shareholder acquired voting control of the Company. The acquisition was accomplished through the issuance of approximately 8,559,000 shares of PTE stock which represented approximately 80% of the voting stock of PTE immediately after the transaction. For accounting purposes, the acquisition has been treated as a recapitalization of Capital First with Capital First as the acquiror. The historical financial statements prior to February 12, 1996 are those of Capital First. As a result of the acquisition, Capital First effectively changed its accounting year end to June 30 from December 31. Capital First is a developer of residential subdivisions with its principal operations in Tallahassee, Florida. Pro forma financial information is not provided since the continuing operations Capital First acquired from PTE (i.e., Keystone Laboratories, Inc.) are insignificant. The accompanying unaudited consolidated financial statements and related notes have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been omitted pursuant to such rules and regulations. The information furnished reflects, in the opinion of management, all adjustments, consisting of normal recurring accruals, necessary for a fair presentation of the results of the interim period presented. The accompanying consolidated financial statements and related notes should be read in conjunction with the audited financial statements of Capital First Holdings, Inc., and notes thereto, as found in Form 8-KA for the year ended December 31, 1995, and the Company's Form 10-KSB for the six months ended June 30, 1996. A copy of such consolidated financial statements and notes thereto may be obtained by writing to the Company. (2) Acquisitions Effective August 12, 1996, the Company acquired all of the voting common stock of Flowers Properties, Inc., Highland Properties, Construction Company, Inc., and Barrier Dunes development Corporation in exchange for approximately 2,565,000 shares of PTE common stock with a stated value of $3.50 per share. Under the agreement, the number of shares may be adjusted in the event the quoted market price of the shares at December 31, 1996 is less than $3.50 per share and a final audited reconciliation of a current net value of at least $8,977,500 exists. The Company is required to issue such additional shares as necessary for the aggregate value of the total shares to approximate the original purchase price. The purchased corporations operations principally PROACTIVE TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements September 30, 1996 (continued) consist of land development in Middle and South Georgia, and Cape San Blas, Florida. The land owned by these corporations has been added to the land inventory of the Company. This acquisition will be accounted for under the purchase method of accounting. Effective September 16, 1996, the Company acquired eighty two per cent (82%) of the issued and outstanding shares of QuinStone Industries, Inc. In exchange for 750,000 shares of PTE voting common stock. Additionally, the Company had agreed to file a registration statement within the next year in order to register the shares issued under the agreement and was contingently obligated to issue an additional 225,000 shares of restricted stock if this registration did not occur. QuinStone Industries is a manufacturer of synthetic stone and marble fixtures with a plant located in Quincy, Florida. On November 16, 1996, this transaction was rescinded by the mutual agreement of the Company and the entities/persons which the QuinStone Industries stock was originally acquired, thus canceling any and all remaining obligations to register shares under the original arrangement and terminating any penalties should registration not occur. Simultaneous with this rescission, the Company also transferred back 81,700 shares of Killearn Properties, Inc. (AMEX:KPI) stock to James H. Dahl in exchange for the return of 326,800 shares of Company stock which shares had been acquired during May and August 1996 as explained below. During April, 1996, the Company acquired for investment purposes approximately 8.1% of the issued and outstanding shares of Killearn Properties, Inc.(AMEX "KPI"). KPI is in the business of real estate development in the Stockbridge, Georgia area. The Company filed its Schedule 13D regarding this event on April 25, 1996. In May 1996, PTE proposed a transaction with KPI whereby KPI would exchange certain assets (consisting of the golf course and country club, a newly constructed inn and certain joint venture interests) to KPI's then Chairman of the Board and Chief Executive Officer, for his approximate 42% ownership interest in KPI, or 551,321 shares of KPI voting common stock. In connection with this proposed transaction, PTEK would be required to loan KPI $2 million dollars, which would be used to facilitate the transfer of the assets. During August 1996, PTE acquired approximately 85,950 additional shares of KPI stock, increasing its ownership interest in KPI to approximately 22%. On July 29, 1996, PTE proposed to KPI's Board of Directors that PTEK be retained to provide sales personnel and sales training techniques in order to improve the sales of residential lots. In addition, PTE proposed that KPI's board include two additional representatives of PTE. On July 31, 1996, KPI's Board of Directors approved the transaction and the PTE proposals, and an agreement was entered into on August 2, 1996 between KPI and KPI's Chairman. The split-off transaction was voted upon and approved at KPI's shareholders' meeting held on September 30, 1996. At the Board meeting following the shareholders' meeting, Mark A. Conner was named Chairman of the Board of KPI. Additionally, Mark A. Conner, President of the PROACTIVE TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements September 30, 1996 (continued) Company, was elected to the KPI Board of Directors, and Langdon S. Flowers, Jr., and Robert Maloney, Jr. were named as Directors of KPI. The transaction was completed on November 16, 1996, at which time, PTE's holdings in KPI will be increased to approximately 25.6%. (3) Debt As a result of the Flowers acquisitions noted above, the Company assumed notes payable in the aggregate approximate amount of $7,000,000, which are secured by the land owned by the three Flowers entities. Further, on August 20, 1996, the Company borrowed $875,000 from lenders to finance the acquisition of some land in Tallahassee, which the Company intends to develop. (4) Earnings Per Share Primary and fully diluted earnings per share are calculated based on the following number of weighted average shares of stock outstanding including stock options as common stock equivalent. The weighted number of shares outstanding for the period presented was 13,229,342. This number was achieved after the return of both 750,000 shares of PTE stock to the Company for the rescission of the QuinStone Industries transaction, and 326,800 shares of PTE stock to the Company for the rescission of the purchase of 81,700 shares of KPI stock to James H. Dahl. (5) Subsequent Events On November 1, 1996, J.T. Williams, Jr., President resigned his position and the Board of Killearn Properties, Inc (AMEX:KPI), and named Mark A. Conner as President and Chief Executive Officer. The Company closed the transaction with KPI and Williams on November 16, 1996. PROACTIVE TECHNOLOGIES, INC. AND SUBSIDIARIES ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS On February 12, 1996, Proactive Technologies, Inc. ("PTE")acquired 100% of the outstanding common stock of Capital First Holdings, inc. ("Capital First") in a reverse acquisition in which Capital First's sole shareholder acquired voting control of the Company. For financial reporting purposes the transaction is treated as the acquisition of PTEK by Capital First. Accordingly, the historical results of operations and financial position are those of Capital First and include the accounts of PTEK from February 12, 1996. As a result of the acquisition, Capital First effectively changed its accounting year end to June 30 from December 31. Worldwide, a manufacturer of decorative concrete, became an 80% owned subsidiary of the Company on February 10, 1996. On September 30, 1996, the Company purchased 15% of the remaining Worldwide stock for $7,500.00 from Garat Oates, bringing its ownership percentage to 95%. Included in this report is the September 30, 1996 Balance Sheet of Worldwide and the results of operations from July 1, 1996 to September 30, 1996. QuinStone Industries, Inc., ("QuinStone") a manufacturer of synthetic building products, became an 82% owned subsidiary of the Company on September 9, 1996. This transaction was rescinded, however, on November 16, 1996. Consequently, the September 30, 1996 balance sheet of QuinStone Industries and results of operations from September 9, 1996 to September 30, 1996 are not included in this report. Results of Operations Three months ended September 30, 1996 compared to three months ended September 30, 1995. Net sales decreased $1,331,000, or 18.16% from the first three months of 1995 to the first three months of 1996. This decrease is due to several factors. First, sales of approximately $550,000.00 from the Golden Eagle Country Club for membership fees, restaurant sales, and other income were included in the September 30, 1995 figures. The Country Club was sold in October of 1995 and is no longer an asset of the Company. Further, September 30, 1995 figures contained condominium sales of $1,500,000.00. Currently, the Company is in a development stage with regard to much of its land assets. Specifically, it is in the process of permitting a new condominium, which it hopes to have available for sale in 1997. Lot sales diminished only slightly, primarily due to a lack of availability in inventory. Cost of Sales decreased $2,318,000, or 38.1%, during the three month period ended September 30, 1996, over the same period in 1995, which was due primarily to a gross profit margin of approximately 61% with regard to the sale of the commercial property in the Piney Z for $3,500,000.00. The Company has a 67% ownership in Piney Z, which translates to $2,345,000 in sales and a basis of $900,000. Lots sales profit margins remained fairly constant at 20% to 21% between the three month periods ending September 30, 1996 and 1995. Said profit margin between 19% and 21% is expected to be maintained assuming no great fluctuations in the current interest rates. Selling, general, and administrative ("SG&A") expenses decreased $484,000 during the three months ended September 30, 1996 as compared to the three months ended September 30, 1995. Management attributes this cost decrease to two primary factors: First, for the three months ended September 30, 1995, Golden Eagle Country Club, no longer a part of the Company, had SG&A expenses of approximately $740,000. Remaining SG&A expense was about 3.6% of sales. SG&A for the three months ended September 30, 1996 were about 9.6%, fairly constant with necessary additional professional and other administrative fees associated with being a public corporation. Interest expense decreased $562,000 or 60.6%, primarily due to the reduction in overall debt, and the acquisition of new debt which is now capitalized. Other income was up $176,000 at September 30, 1996 from September 30, 1995. This increase includes $80,000 in utility rebates from the City of Tallahassee. Also, During the three months ended September 30, 1995, the Company recorded an approximate $63,000 loss from the sale of Northhampton Office Park in August 1995. Liquidity Management believes that the Company, through the generation of cash flow from operations and the utilization of unused borrowing capacity, has sufficient financial resources available to maintain its current operations and provide for its current capital expenditure requirements. The Company intends to concentrate its future efforts on expanding the volume of business of Capital First in Tallahassee and Vero Beach, Florida. The Company's investment in Killearn Properties, Inc. will allow the Company to expand into the Atlanta area. The Company is continuing to explore other possible acquisitions in construction-related industries which will complement its existing businesses, as well as to search out other areas for residential and commercial development in other areas. Financial Condition Total assets increased a net total of $18,813,000 from June 30, 1996 to September 30, 1996; Real estate inventories increased $13,694,000 primarily due to the Flowers acquisitions which brought $ 15,000,000 into the land inventories. Notes receivable increased $3,592,000 from $1,117,000 at June 30, 1996 to $4,709,000 at September 30, 1996. The bulk of this increase is due primarily the following factors: a $2,500,000 one year note from the sale of the Piney Z commercial property; approximately $1,300,000 in notes receivable for the issuance of stock pursuant to warrants to raise capital; and approximately $800,000 was acquired onto the books of the Company from the Flowers transaction. Investments increased approximately $269,000 as a result of the acquisition of additional shares of Killearn Properties, Inc. (AMEX:KPI), bringing its total investment to 21.9% of the total issued and outstanding shares of KPI. Total liabilities increased $6,514,000 from June 30, 1996 to September 30, 1996, primarily due to the following factors: The Flowers acquisitions brought an additional $7,000,000 in notes payable to the books of the Company, and there was a net decrease of approximately $1,600,000 in other company notes payable as a result of payment on overall debt; a net increase in income taxes payable of $387,000 to $1,486,000 at September 30, 1996 from $1,099,000 at June 30, 1996; Deferred Compensation payable decreased $120,000 to $439,000 at September 30, 1996 from $559,000 at June 30, 1996 due to a distribution. Total Shareholders' equity increased $12,307,000 to $18,675,000 at September 30, 1996 from $6,368,000 at June 30, 1996. The increase was due primarily to the increase in paid in capital as a result of the issuance of common stock upon exercise of warrants as well as the Flowers acquisition. PART II - OTHER INFORMATION ITEM 1. Legal Proceedings ITEM 4. Submission of Matters to a Vote of Security Holders On February 12, 1996 in a Consent to Action in lieu of a special meeting of shareholders of Proactive Technologies, Inc., the holders of a majority of shares of voting stock agreed to elect the following directors of the corporation: Mark A. Conner, Chairman of the Board, Joel C. Holt, and Robert Maloney. The directors then elected Mark A. Conner President and Chief Executive Officer of the Company. ITEM 6. Exhibits and Reports on Form 8-K (a) Exhibits: None (b) Reports on Form 8-K: The following reports on Form 8-K or Form 8-K/A were prepared and filed during the quarter ended September 30, 1996: (1) September 26, 1996: 8-K: The Company engaged Coopers & Lybrand LLP, of Atlanta, Georgia as its new certifying accountant. The engagement was due to the change of the Company's management as a result of the acquisition of Capital First Holdings, Inc. (See Form 8-K filed on February 12, 1996) and the relocation of the Company from Tulsa, Oklahoma to Tallahassee, Florida. The report of the former accountant, Guest & Co., P.C. of Tulsa, Oklahoma, who did the report accompanying the Company's financial statements for the fiscal years ended June 30, 1995 and June 30, 1994 did not contain any adverse opinion or disclaimer of opinion. The Decision of the Company to engage new certifying accountants was approved by the Company's Board of Directors. The Company is not aware of any unresolved disagreements with Guest & Company, P.C., with regard to any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure. (2) September 30, 1996 - 8-K/A: The Company filed audited financial statements for Capital First Holdings, Inc. for its fiscal year ended December 31, 1995 after the reverse acquisition of Capital First (See Form 8-K filed on February 12, 1996) SIGNATURE In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. PROACTIVE TECHNOLOGIES, INC. (Registrant) Date: February 12, 1997 By: /s/ Mark A. Conner Mark A. Conner, President, and Chief Executive Officer In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. PROACTIVE TECHNOLOGIES, INC (Registrant) Date: February 12, 1997 By: /s/ Mark A. Conner Mark A. Conner, President, and Chief Executive Officer 13 EX-27 2
5 6-MOS JUN-30-1996 SEP-30-1996 501,262 303,542 4,709,375 0 36,071,611 41,282,248 1,463,882 0 47,279,000 2,843,646 22,771,432 267,935 0 0 18,084,004 47,279,000 6,000,137 6,000,137 3,768,690 4,562,282 0 0 0 1,437,855 411,985 1,025,870 0 0 0 1,025,870 .08 .08
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