-----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, BlIaaXbakjUX4EBsWldwxWle+G+9x3G2JUa5g2l+3dWQgC/U9+BFAYeiK7URo60b pt/1Iq9YbloiCy4WezbJ7A== 0000890566-96-000048.txt : 19960124 0000890566-96-000048.hdr.sgml : 19960124 ACCESSION NUMBER: 0000890566-96-000048 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960122 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19960123 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: DOCUCON INCORPORATED CENTRAL INDEX KEY: 0000843006 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] IRS NUMBER: 742418590 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10185 FILM NUMBER: 96506174 BUSINESS ADDRESS: STREET 1: 7461 CALLAGHAN RD CITY: SAN ANTONIO STATE: TX ZIP: 78229 BUSINESS PHONE: 2105259221 MAIL ADDRESS: STREET 1: 7461 CALLAGHAN ROAD CITY: SAN ANTONIO STATE: TX ZIP: 78229 8-K 1 CURRENT REPORT ON FORM 8-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 29549 ------------ FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) of the SECURITIES EXCHANGE ACT OF 1934 Date of Report January 22, 1996 DOCUCON, INCORPORATED (Exact name of registrant as specified in charter) DELAWARE 1-10185 74-2418590 (State or other jurisdiction (Commission (IRS employer of incorporation) file number) identification no.) 7461 CALLAGHAN RD., SAN ANTONIO, TEXAS 78230 (Address of principal executive offices) (Zip Code) (210) 525-9221 (Registrant's telephone number, including area code) ITEM 5 The Company announced that it was granted an exception to the NASDAQ bid price requirement on January 17, 1996. NASDAQ indicated that the Company may achieve compliance with NASDAQ listing requirements if the bid price of its common stock remains at or above $1 for ten consecutive trading days or when it presents NASDAQ with financial statements evidencing the Company's compliance with the alternative capital and surplus requirement of $2,000,000. Fourth quarter earnings (unaudited) of $283,000 and equity contributions of $32,000 from the Employee Stock Purchase Plan resulted in a capital and surplus balance in excess of $2,000,000. An unaudited balance sheet reflecting those results is filed as an exhibit to this Form 8-K. That balance sheet indicates that the NASDAQ minimum standards have been achieved by the Company. As of the date of this filing, the Company is requesting that NASDAQ accept the Company's compliance with the listing requirements. Until that time, the Company's securities will be traded under the symbol DOCUC. ITEM 7 The unaudited balance sheet as of December 31, 1995 is filed herewith as Exhibit 1. EXHIBIT INDEX Exhibit No Description - ----------- ----------- 1 -- Unaudited balance sheet as of December 31, 1995 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report on Form 8-K to be signed on its behalf by the undersigned thereunto duly authorized. Docucon, Incorporated (Registrant) Date: January 23, 1996 By EDWARD P. GISTARO Edward P. Gistaro Chief Executive Officer EX-1 2 UNAUDITED BALANCE SHEET EXHIBIT 1 DOCUCON, INC. BALANCE SHEET DECEMBER 31, 1995 (PRELIMINARY AND UNAUDITED) ASSETS CURRENT ASSETS: Cash and temporary cash investments ......................... $ 76,971 Accounts receivable -- trade, net of allowance for doubtful accounts of $7,683 U.S. Government ........................................... 594,090 Commercial ................................................ 1,278,796 Unbilled revenues ........................................... 579,821 Other receivables ........................................... 1,648 Prepaid expenses ............................................ 118,423 ----------- Total current assets .................................... 2,649,749 ----------- PROPERTY AND EQUIPMENT ........................................ 6,564,717 Less - Accumulated depreciation ............................. 4,182,671 ----------- Net property and equipment .............................. 2,382,046 ----------- SOFTWARE DEVELOPMENT COSTS, net ............................... 335,091 ----------- GOODWILL, net ................................................. 338,824 ----------- Total assets ............................................ $ 5,705,710 =========== LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable ............................................ $ 660,610 Accrued liabilities ......................................... 775,122 Line of credit .............................................. 400,000 Note payable ................................................ 1,500,000 Current maturities of capital lease obligations ............. 3,107 Deferred revenues ........................................... 339,558 ----------- Total current liabilities ............................... 3,678,397 COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' EQUITY: Preferred stock, $1.00 par value, 10,000,000 shares authorized -- Series A, 60 authorized, 21 shares outstanding as of December 31, 1995 ........................ 21 Common stock, $.01 par value, 25,000,000 shares authorized -- 11,771,228 shares issued and outstanding as of December 31, 1995 ........................ 117,712 Additional paid-in capital .................................. 9,506,563 Accumulated deficit ......................................... (7,596,983) ----------- Total stockholders' equity .............................. 2,027,313 ----------- Total liabilities and stockholders' equity .............. $ 5,705,710 =========== -----END PRIVACY-ENHANCED MESSAGE-----