-----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, LbT8WSDCjZHkbLyNWTYl/TTLv/BhwYlJ3TtR218BthHGw3kBYhMAXZaJCRn1uEOP mMnnTKDepjmq7iM1VAnz8A== 0000950134-99-000045.txt : 19990107 0000950134-99-000045.hdr.sgml : 19990107 ACCESSION NUMBER: 0000950134-99-000045 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980930 FILED AS OF DATE: 19990106 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PANCHOS MEXICAN BUFFET INC /DE CENTRAL INDEX KEY: 0000075929 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] IRS NUMBER: 751292166 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: SEC FILE NUMBER: 000-04678 FILM NUMBER: 99501692 BUSINESS ADDRESS: STREET 1: 3500 NOBLE AVENUE CITY: FORT WORTH STATE: TX ZIP: 76111-0407 BUSINESS PHONE: 8178310081 MAIL ADDRESS: STREET 1: PO BOX 7407 CITY: FT WORTH STATE: TX ZIP: 76111-0407 FORMER COMPANY: FORMER CONFORMED NAME: PAMEX FOODS INC DATE OF NAME CHANGE: 19820811 FORMER COMPANY: FORMER CONFORMED NAME: PANCHOS MEXICAN BUFFET INC DATE OF NAME CHANGE: 19720519 10-K/A 1 AMENDMENT NO. 2 TO FORM 10-K FYE 9/30/98 1 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K/A AMENDMENT NO. 2 X ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1998 --- TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NO. 0-4678 PANCHO'S MEXICAN BUFFET, INC. (Exact name of registrant as specified in its Charter) DELAWARE 75-1292166 (State or other jurisdiction (I.R.S. Employer of incorporation or organization) Identification No.) 3500 NOBLE AVENUE, FORT WORTH, TEXAS 76111 (Address of principal executive offices) (Zip Code) (817) 831-0081 (Registrant's telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act: NONE Securities registered pursuant to Section 12(g) of the Act: COMMON STOCK, PAR VALUE $0.10 PER SHARE (Title of Class) 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 ___ INDICATE BY CHECK MARK IF DISCLOSURE OF DELINQUENT FILERS PURSUANT TO ITEM 405 OF REGULATION S-K IS NOT CONTAINED HEREIN, AND WILL NOT BE CONTAINED, TO THE BEST OF THE REGISTRANT'S KNOWLEDGE, IN DEFINITIVE PROXY OR INFORMATION STATEMENTS INCORPORATED BY REFERENCE IN PART III OF THIS FORM 10-K OR ANY AMENDMENT TO THIS FORM 10-K [ ]. THE AGGREGATE MARKET VALUE OF THE VOTING STOCK HELD BY NON-AFFILIATES OF THE REGISTRANT ON NOVEMBER 30, 1998, BASED ON THE ACTUAL STOCK PRICE ON SUCH DATE WAS $3,317,384. NUMBER OF SHARES OF COMMON STOCK OUTSTANDING AS OF NOVEMBER 30, 1998:..................................................................4,358,723 DOCUMENTS INCORPORATED BY REFERENCE THE COMPANY'S DEFINITIVE PROXY STATEMENT FOR THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD JANUARY 27, 1998, IS INCORPORATED BY REFERENCE IN PART III HEREOF. - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 2 The Consolidated Statements of Cash Flows (page F-4) inadvertently included an incorrect amount for fiscal year 1998 net cash used in financing activities. Therefore, page F-4 is hereby amended to reflect the correct amount for that line. 3 PANCHO'S MEXICAN BUFFET, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS
YEARS ENDED SEPTEMBER 30, ------------------------------------------ 1998 1997 1996 ------------ ------------ ------------ Cash Flows From Operating Activities: Net earnings (loss).............................. $(12,518,000) $ (4,716,000) $ (415,000) ------------ ------------ ------------ Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: Depreciation and amortization................. 2,808,000 3,426,000 3,949,000 Provision (benefit) for deferred income taxes....................................... 4,305,000 (1,288,000) 186,000 Impairment of long-lived assets............... 5,681,000 3,033,000 Provision for restructuring reserves.......... 920,000 1,538,000 Realization of foreign currency translation adjustment.................................. 455,000 Loss on writeoff of stock notes receivable.... 83,000 Gain on sale of assets........................ (153,000) (256,000) (141,000) Stock compensation to outside directors....... 29,000 Changes in operating assets and liabilities: Accounts and notes receivable............... (6,000) 9,000 216,000 Income taxes receivable..................... 538,000 (352,000) 1,041,000 Inventories, prepaid expenses and other assets................................... (231,000) 181,000 389,000 Accounts payable and accrued expenses....... 79,000 (272,000) (353,000) Restructuring reserves...................... (658,000) (959,000) (349,000) Other......................................... 134,000 ------------ ------------ ------------ Net cash provided by operating activities............................. 794,000 882,000 4,657,000 Cash Flows From Investing Activities: Property additions............................... (697,000) (459,000) (689,000) Proceeds from sale of assets..................... 261,000 1,081,000 278,000 ------------ ------------ ------------ Net cash provided by (used in) investing activities............................. (436,000) 622,000 (411,000) Cash Flows From Financing Activities: Short-term borrowings, net....................... 298,000 40,000 (10,000) Long-term borrowings............................. 19,706,000 28,583,000 28,676,000 Repayments of long-term borrowings............... (20,232,000) (29,785,000) (33,892,000) Dividends paid................................... (66,000) (132,000) (132,000) Payments on officer stock notes receivable....... 53,000 77,000 67,000 ------------ ------------ ------------ Net cash used in financing activities.... (241,000) (1,217,000) (5,291,000) Effect of Foreign Exchange Rate Change on Cash..... (3,000) (9,000) ------------ ------------ ------------ Net Increase (Decrease) in Cash and Cash Equivalents...................................... 117,000 284,000 (1,054,000) Cash and Cash Equivalents at Beginning of Year..... 429,000 145,000 1,199,000 ------------ ------------ ------------ Cash and Cash Equivalents at End of Year........... $ 546,000 $ 429,000 $ 145,000 ============ ============ ============ Supplemental Information: Income taxes paid and (refunds received), net.... $ (541,000) $ (170,000) $ (1,348,000) Interest paid, net of capitalized amounts........ 206,000 306,000 533,000 Treasury stock acquired as reduction of receivables................................... 55,000 13,000
See notes to consolidated financial statements. 2 4 SIGNATURES Pursuant to the requirements of Section 13 or 15(d) 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. PANCHO'S MEXICAN BUFFET, INC. By /s/ W. BRAD FAGAN ----------------------------------------------------------- Brad, Fagan, Vice President, Treasurer, Chief Financial Officer and Assistant Secretary (Principal Financial and Accounting Officer) January 6, 1999 -----END PRIVACY-ENHANCED MESSAGE-----