-----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, GWk/uvNnE0ICdR4S1q+H1Y7A3EvF03ioQbHxVKuXz24MvDcuCWHFL3fbTXxp0kFt VKQ3z0m0RurhsTS8Qmp6NQ== 0000912057-96-015729.txt : 19960731 0000912057-96-015729.hdr.sgml : 19960731 ACCESSION NUMBER: 0000912057-96-015729 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19960515 ITEM INFORMATION: Other events FILED AS OF DATE: 19960730 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: INFORMATION MANAGEMENT TECHNOLOGIES CORP CENTRAL INDEX KEY: 0000824578 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-FACILITIES SUPPORT MANAGEMENT SERVICES [8744] IRS NUMBER: 581722085 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-16753 FILM NUMBER: 96600616 BUSINESS ADDRESS: STREET 1: 130 CEDAR ST 4TH FLR CITY: NEW YORK STATE: NY ZIP: 10006 BUSINESS PHONE: 2123066100 MAIL ADDRESS: STREET 1: 130 CEDAR STREET CITY: NEW YORK STATE: NY ZIP: 10006 8-K/A 1 8-K/A SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 8-K/A AMENDMENT NO. 2 TO FORM 8-K AMENDMENT NO. 1 (DATED MAY 15, 1996) AND FORM 8-K (DATED MARCH 5, 1996) Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 25, 1996 INFORMATION MANAGEMENT TECHNOLOGIES CORPORATION (Exact name of Company specified in its charter) DELAWARE 0-16753 58-1722085 (State or other (Commission File Number) (I.R.S. Employer jurisdiction of Identification No.) incorporation or organization) 130 CEDAR STREET, FOURTH FLOOR, NEW YORK, NEW YORK 10006 (Address of principal executive offices) (Zip Code) (212) 306-6100 (Company's telephone number, including area code) FILED WITH THE COMMISSION JULY 25, 1996 ITEM 5. OTHER EVENTS The Registrant ("Company") supplements its 8-K Filings of May 15, 1996, and March 5, 1996, with respect to the convertible debenture issued to Infinity Investors Ltd. ("Infinity"). From May 8, 1996 up until and including July 25, 1996, Infinity notified the Company of its election to convert an aggregate of $2,100,000 of the outstanding convertible debentures issued to Infinity into an aggregate of 1,833,643 shares of Class A Common Stock pursuant to Regulation S of the Securities Act of 1933. The Company incorporates by reference the information contained in the prior 8K filings referred to herein. The effect of the conversion of the convertible debentures increases the Company's equity to $1,491,690. Annexed hereto, marked Exhibit A, is a Balance Sheet giving pro forma effect to March 31, 1996. The increase in the Company's equity enables the Company to be in compliance with the capital requirements of NASDAQ. EXHIBITS A) Balance Sheet giving pro forma effect of Convertible Debenture conversion. - 2 - 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 hereunto duly authorized. Dated: New York, New York July 25, 1996 INFORMATION MANAGEMENT TECHNOLOGIES CORPORATION (IMTECH) ----------------------------------- (REGISTRANT) /S/ [caad 214]JOSEPH A. GITTO, JR. ----------------------------------- [caad 214]JOSEPH A. GITTO, JR. PRESIDENT AND CHIEF FINANCIAL OFFICER - 3 - MAR 96 EXHIBIT A INFORMATION MANAGEMENT TECHNOLOGIES CORPORATION BALANCE SHEET
31-Mar-96 31-Mar-96 AS REPORTED PRO-FORMA PRO-FORMA ----------- --------- --------- ASSETS CURRENT ASSETS CASH &M CASH EQUIVALENTS 2,011,560 2,011,560 ACCOUNTS RECEIVABLE, NET OF ALLOWANCE 1,406,731 1,406,731 INVENTORY 303,133 303,133 PREPAID EXPENSES AND OTHER 972,214 972,214 ----------- ---------- ----------- TOTAL CURRENT ASSETS 4,693,638 0 4,693,638 PROPERTY AND EQUIPMENT-AT COST PRODUCTION EQUIPMENT 5,102,268 5,102,268 SOFTWARE 295,128 295,128 FURNITURE AND FIXTURES 399,899 399,899 LEASEHOLD IMPROVEMENTS 461,089 461,089 COMPUTER EQUIPMENT 1,101,323 1,101,323 TOTAL PRODUCTION EQUIPMENT 7,359,707 0 7,359,707 LESS: ACCUMULATED DEPRECIATION 5,013,249 0 5,013,249 ----------- ---------- ----------- PRODUCTION & EQUIPMENT, NET 2,345,458 0 2,345,458 OTHER ASSETS DEPOSITS AND OTHER ASSETS 347,636 347,636 INVESTMENT IN SUBSIDIARY 379,057 379,057 TOTAL OTHER ASSETS 726,693 0 726,693 ----------- ---------- ----------- TOTAL ASSETS 7,766,789 0 7,766,789 ----------- ---------- ----------- ----------- ---------- ----------- LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES BANK CREDIT FACILITY 640,056 640,056 CURRENT DEBT 431,975 431,975 CURRENT MATURATES OF LONG TERM DEBT 497,328 497,328 CURRENT MATURATES OF LONG TERM CAPITAL 333,728 333,728 ACCOUNTS PAYABLE 1,455,015 1,455,015 ACCRUED SALARIES 156,007 156,007 DEFERRED REVENUE 129,090 129,090 OTHER ACCRUED LIABILITIES 1,457,798 1,457,798 TOTAL CURRENT LIABILITIES 5,100,997 0 5,100,997 LONG-TERM DEBT, LESS CURRENT MATURES 2,793,329 A/B (2,350,000) 443,329 ACCRUED RENT 368,494 368,494 CAPITAL LEASE OBLIGATIONS, LESS CURRENT 362,279 362,279 ----------- ---------- ----------- TOTAL LONG TERM LIABILITIES 3,524,102 (2,350,000) 1,174,102 COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' EQUITY PREFERRED STOCK 2,026,580 B 250,000 2,278,580 CLASS A COMMON STOCK 141,403 A 73,346 214,749 ADDITIONAL PAID IN CAPITAL 28,658,530 A 2,026,654 30,885,184 ACCUMULATED DEFICIT (31,684,823) (31,684,823) TOTAL STOCKHOLDERS' EQUITY (868,310) 2,350,000 1,491,690 ----------- ---------- ----------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 7,766,789 0 7,766,789 ----------- ---------- ----------- ----------- ---------- -----------
A - TO RECORD CONVERSION $2,100,000 CONVERTIBLE DEBENTURES ISSUED TO INFINITY INVESTORS B - RECORD THE CONVERSION OF AN ADDITIONAL $250,000 IN 12% SUBORDINATED CONVERTIBLE DEBENTURES INTO SHARES OF THE COMPANIES 12% PREFERRED STOCK. -----END PRIVACY-ENHANCED MESSAGE-----