-----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, UR7WRJB35uDBBQjR5cm3T8b2khqeFrJIrM4IbSynrTRTIptCMTai6/IO7gVfDKFY MEAXenVDJaTPJXDMNIXugw== 0000950129-97-002508.txt : 19970624 0000950129-97-002508.hdr.sgml : 19970624 ACCESSION NUMBER: 0000950129-97-002508 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970502 FILED AS OF DATE: 19970623 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: 50 OFF STORES INC CENTRAL INDEX KEY: 0000735584 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-VARIETY STORES [5331] IRS NUMBER: 742640559 STATE OF INCORPORATION: DE FISCAL YEAR END: 0202 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-13076 FILM NUMBER: 97628475 BUSINESS ADDRESS: STREET 1: 8750 TESORO DRIVE CITY: SAN ANTONIO STATE: TX ZIP: 78217-0555 BUSINESS PHONE: 2108059300 MAIL ADDRESS: STREET 1: 8750 TESORO DR PO BOX 17555 STREET 2: 8750 TESORO DR PO BOX 17555 CITY: ANTONIO STATE: TX ZIP: 78217 FORMER COMPANY: FORMER CONFORMED NAME: SHOPPERS WORLD STORES INC DATE OF NAME CHANGE: 19871214 10-Q/A 1 50-OFF STORES, INC. - 05/02/97 - AMEND. #1 1 FORM 10-Q/A Amendment No. 1 to 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 the quarterly period ended May 2, 1997 OR ( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 0-13076 LOT$OFF CORPORATION (F/K/A 50-OFF STORES, INC.) DELAWARE 74-2640559 - ---------------------------------------- ----------------------------- (State or other jurisdiction (I.R.S. Employer of incorporation or Identification No.) organization 8750 Tesoro Drive, San Antonio, Texas 78217-0555 - ---------------------------------------- ----------------------------- (Address of principal executive offices) (Zip Code) Telephone: (210) 805-9300 ---------------------------------------------------- (Registrant's telephone number, including area code) Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days: Yes X No --- --- -------------------------- 12,200,915 shares of the Registrant's old common stock were outstanding at May 2, 1997. 855,320 shares of the Registrant's new common stock were outstanding at June 18, 1997. -------------------------- LOT$OFF Corporation hereby amends the following items, financial statements, exhibits or other portions of its Quarterly Report on Form 10-Q for the quarterly period ended May 2, 1997 by amending Part I, Item 1 -- Financial Statements (Liabilities and Stockholder's (Deficit) Equity for January 31, 1997). Part II, Item 6. Exhibits (Exhibit 27 for name change). 2 LOT$OFF CORPORATION AND SUBSIDIARIES (F/K/A 50-OFF STORES, INC. AND SUBSIDIARIES - DEBTOR-IN-POSSESSION) CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY
May 2, 1997 January 31, 1997 May 3, 1996 -------------- ---------------- -------------- CURRENT LIABILITIES: Credit facility $ 7,660,908 $ 5,396,580 $ -- Accounts payable-trade 1,747,773 1,381,708 9,705,104 Accounts payable-other 2,278,479 2,032,512 4,809,516 Accrued expenses and other current liabilities 1,823,620 1,757,468 4,104,654 Current portion of closed store costs -- -- 1,001,449 Current portion of long-term debt -- 266,667 1,063,273 -------------- ------------ -------------- TOTAL CURRENT LIABILITIES 13,510,780 10,834,935 20,683,996 CREDIT FACILITY, refinanced -- -- 10,109,405 LONG-TERM DEBT, less current portion -- -- 4,014,674 NOTES PAYABLE - VENDORS -- -- 2,631,658 LIABILITIES SUBJECT TO COMPROMISE -- 30,250,544 -- COMMITMENTS AND CONTINGENCIES 30,193,052 -- STOCKHOLDERS' (DEFICIT) EQUITY: Common stock 122,009 122,009 122,009 Additional paid-in capital 36,022,264 36,022,264 36,022,264 Subscription receivable (3,991,050) (3,991,050) (3,991,050) Accumulated deficit (56,210,289) (53,983,966) (15,275,633) -------------- ------------ -------------- TOTAL STOCKHOLDERS' EQUITY (24,057,066) (21,830,743) 16,877,590 -------------- ------------ -------------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ (19,646,766) $ 19,254,736 $ 54,317,323 ============== ============ ==============
See accompanying notes to these condensed consolidated financial statements. -4- 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this amendment to be signed on its behalf by the undersigned thereunto duly authorized: LOT$OFF CORPORATION By: /s/ James G. Scogin ---------------------------------- James G. Scogin, Vice-President, Controller, Chief Accounting Officer, Treasurer and Secretary Date: June 23, 1997 EX-27 2 FINANCIAL DATA SCHEDULE
5 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM LOT$OFF CORPORATION F/K/A 50-OFF STORES, INC.'S FINANCIAL STATEMENTS AS OF AND FOR THE THIRTEEN WEEKS ENDED MAY 2, 1997, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1,000 3-MOS MAY-02-1997 MAY-02-1997 591 0 207 0 14,050 15,249 7,405 3,465 19,647 13,511 16,756 0 0 122 (24,179) 19,647 11,919 11,919 7,721 7,721 6,283 0 142 (2,226) 0 (2,226) 0 0 0 (2,226) (.18) (.18)
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