-----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, IVDaodlaznPrPYCYvlC93cdUj8H6d7wUSftVCLo2aXijKH8Rou4FoBjBsIbt3pn1 RCx18r8EQt378AcDSLvhqg== 0000849145-95-000011.txt : 19951212 0000849145-95-000011.hdr.sgml : 19951212 ACCESSION NUMBER: 0000849145-95-000011 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19950831 FILED AS OF DATE: 19951211 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: MEDCROSS INC CENTRAL INDEX KEY: 0000849145 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISC HEALTH & ALLIED SERVICES, NEC [8090] IRS NUMBER: 592291344 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-17973 FILM NUMBER: 95600594 BUSINESS ADDRESS: STREET 1: 3227 BENNET ST NORTH CITY: ST PETERSBURG STATE: FL ZIP: 33713 BUSINESS PHONE: 8135211793 MAIL ADDRESS: STREET 1: 3227 BENNET STREET NORTH CITY: ST PETERSBURG STATE: FL ZIP: 33713 11-K 1 FORM 11-K FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED] For the fiscal year ended August 31, 1995 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] For the transition period from to Commission file number 33-85054 A. Full title of the plan: 1990 Employee Qualified Stock Purchase Plan. B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: MEDCROSS, INC. 3227 Bennet Street North St. Petersburg, Florida 33713 REQUIRED INFORMATION See Index to Financial Statements on page 3. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. 1990 Employee Qualified Stock Purchase Plan Date November 29, 1995 _/s/ Po Shin Wong_________________________ Po Shin Wong _/s/ Joel Kanter_________________________________________ Joel Kanter _/s/ R. Huston Babcock_________________________________________ R. Huston Babcock, M.D. 1990 EMPLOYEE QUALIFIED STOCK PURCHASE PLAN INDEX TO FINANCIAL STATEMENTS Page Reports of Independent Accountants 4 Statements of Financial Condition 5 Statements of Income and Changes in Plan Equity 6 Notes to Financial Statements 7 NOTE: All schedules are omitted because they are not applicable or are not required, or because the required information is shown either in the financial statements or in the notes thereto. COOPERS & LYBRAND Report of Independent Accountants Administrator Medcross, Inc. 1990 Employee Qualified Stock Purchase Plan We have audited the accompanying statements of financial condition of the 1990 Employee Qualified Stock Purchase Plan for Medcross, Inc. as of August 31, 1995 and 1994, and the related statements of income and changes in plan equity for each of the three years in the period ended August 31, 1995. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Plan as of August 31, 1995 and 1994, and the changes in plan equity for each of the three years in the period ended August 31, 1995, in conformity with generally accepted accounting principles. /s/ Coopers & Lybrand, LLP Tampa, Florida November 10, 1995 1990 EMPLOYEE QUALIFIED STOCK PURCHASE PLAN STATEMENTS OF FINANCIAL CONDITION Assets August 31 1995 1994 Cash and cash equivalents $1,822 $3,641 Total assets $1,822 $3,641 Liabilities and Plan Equity Liabilities $1,820 $3,632 Plan equity 2 9 Total liabilities and plan equity $1,822 $3,641
The accompanying notes are an internal part of these Financial Statements. 1990 EMPLOYEE QUALIFIED STOCK PURCHASE PLAN STATEMENTS OF INCOME AND CHANGES IN PLAN EQUITY For the Years Ended August 31 1995 1994 1993 Contributions and deposits Amounts deposited by participating employees $6,445 $3,640 $1,690 Total contributions and deposits 6,445 3,640 1,690 Withdrawals, lapses, and forfeitures Balances of employees' accounts withdrawn, lapsed or forfeited during the year 4,632 650 - Stock disbursed in settlement of employees' accounts withdrawn, lapsed, or forfeited during the year 1,820 2,982 1,689 Total withdrawals, lapses, and forfeitures 6,452 3,632 1,689 Plan equity at beginning of year 9 1 - Plan equity at end of year $ 2 $ 9 $ 1 The accompanying notes are an internal part of these Financial Statements. 1990 EMPLOYEE QUALIFIED STOCK PURCHASE PLAN NOTES TO FINANCIAL STATEMENTS Note 1 - Accounting Policies A summary of significant accounting policies consistently applied in the preparation of the accompanying financial statements follows: Cash and Cash Equivalents Cash and cash equivalents include all cash balances and highly liquid investments with a maturity of three months or less. Note 2 - Description The 1990 Employee Qualified Stock Purchase Plan (the "Plan") is intended as an incentive to encourage stock ownership by all eligible employees of Medcross, Inc. and its participating subsidiaries so that they may share in the fortunes of the Company by acquiring or increasing their proprietary interest in the Company. The Plan is designed to encourage eligible employees to remain in the employ of the Company. It is intended that options issued pursuant to this Plan shall constitute options issued pursuant an "Employee Stock Purchase Plan" within the meaning of Section 423 of the 1986 Internal Revenue Code, as amended. All employees of the Company or any of its subsidiaries who have been employed by the Company or any of its subsidiaries for at least six months as of the first day of each plan period are eligible to receive options under the Plan to purchase the Company's Common Stock. Employees enrolled in the Plan make contributions through payroll deductions and the employee is 100% vested in these contributions. Employees may withdraw from the Plan at any time, however, they may not reenter the Plan, make additional contributions to the Plan, or change their contributions to the Plan. Under Section 423(a) of the Internal Revenue Code of 1986, as amended (the "Code"), the transfer of a share of stock to a participant pursuant to the Plan is entitled to the benefits of Section 421(a) of the Code. Under that Section, a participant will not be required to recognize income at the time the option is granted or at the time the other option is exercised. The Plan is administered by the Compensation Committee of the Company's Board of Directors. The cost of administering the Plan is paid for entirely by the Company.
-----END PRIVACY-ENHANCED MESSAGE-----