0000891554-95-000116.txt : 19950815 0000891554-95-000116.hdr.sgml : 19950815 ACCESSION NUMBER: 0000891554-95-000116 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19950731 ITEM INFORMATION: Other events FILED AS OF DATE: 19950814 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: CANDIES INC CENTRAL INDEX KEY: 0000857737 STANDARD INDUSTRIAL CLASSIFICATION: FOOTWEAR, (NO RUBBER) [3140] IRS NUMBER: 112481903 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10593 FILM NUMBER: 95562665 BUSINESS ADDRESS: STREET 1: 2975 WESTCHESTER AVE CITY: PURCHASE STATE: NY ZIP: 10577 BUSINESS PHONE: 9146948600 MAIL ADDRESS: STREET 1: 2975 WESTCHESTER AVE CITY: PURCHASE STATE: NY ZIP: 10577 FORMER COMPANY: FORMER CONFORMED NAME: MILLFELD TRADING CO INC DATE OF NAME CHANGE: 19920703 8-K 1 CURRENT REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15 (d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) July 31, 1995 CANDIE'S, INC. (Exact name of registrant as specified in its charter) Delaware 0-10593 11-2481903 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 2975 Westchester Avenue, Purchase, New York 10577 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (914) 694-8600 (Former name or former address, if changed since last report) Item 5. Other Events The unaudited condensed consolidated balance sheets of the Registrant as of July 31, 1995, presented below in this Item 5 is being filed by the Registrant to demonstrate to The Nasdaq Stock Market, Inc. its continued compliance with the quantitative maintenance criteria for the inclusion of its common stock on the Nasdaq National Market as set forth in Section 5(a)3 of Part III of Schedule D of the By-Laws of the National Association of Securities Dealers, Inc. 2
CANDIE'S, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) JULY 31, JANUARY 31, 1995 1995 ----------- ----------- ASSETS CURRENT ASSETS CASH AND CASH EQUIVALENTS $ 397,686 $ -- RESTRICTED CASH 100,000 100,000 ACCOUNTS RECEIVABLE net allowances of $200,092 and $45,000 at July 31, 1995 and January 31, 1995 3,724,206 583,911 INVENTORIES 3,541,893 3,269,158 PREPAID EXPENSES 930,866 151,195 OTHER CURRENT ASSETS 146,910 -- ----------- ----------- TOTAL CURRENT ASSETS 8,841,561 4,104,264 PROPERTY AND EQUIPMENT LESS ACCUMULATED DEPRECIATION AND AMORTIZATION 115,954 142,960 OTHER ASSETS: NON-COMPETITION AGREEMENTS 394,350 414,234 TRADEMARK 4,972,874 5,114,282 OTHER 468,963 514,274 ----------- ----------- TOTAL OTHER ASSETS 5,836,187 6,042,790 ----------- ----------- TOTAL ASSETS $14,793,702 $10,290,014 =========== ===========
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CANDIE'S, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) JULY 31, JANUARY 31, 1995 1995 ----------- ----------- LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: ACCOUNTS PAYABLE $ 5,846,247 $ 1,820,598 PAYABLE FOR INVENTORY IN TRANSIT 864,017 1,105,845 NOTES PAYABLE - NEW RETAIL CONCEPTS,INC. 608,803 -- DUE TO FACTOR 903,571 1,162,035 ACCRUED LITIGATION EXPENSE 100,000 100,000 ACCRUED EXPENSES AND TAXES 1,322,210 1,394,253 ACCRUED U.S. CUSTOMS DUTIES 70,000 63,427 ----------- ----------- TOTAL CURRENT LIABILITIES 9,714,848 5,646,158 OTHER NONCURRENT LIABILITIES 152,172 206,213 ACCRUED U.S. CUSTOMS DUTIES 16,926 45,746 ----------- ----------- TOTAL LIABILITIES 9,883,946 5,898,117 ----------- ----------- STOCKHOLDERS' EQUITY: PREFERRED STOCK, $.01 PAR VALUE - SHARES AUTHORIZED 5,000,000; NONE ISSUED OR OUTSTANDING COMMON STOCK, $.001 PAR VALUE - SHARES AUTHORIZED: 30,000,000 and 10,000,000; ISSUED 8,742,465 AT JULY 31, 1995 AND JANUARY 31, 1995 8,742 8,709 ADDITIONAL PAID-IN CAPITAL 9,200,305 9,162,837 DEFICIT, since February 28, 1993, (deficit eliminated $27,696,007) (4,299,291) (4,779,649) ----------- ----------- TOTAL STOCKHOLDERS' EQUITY 4,909,756 4,391,897 ----------- ----------- TOTAL LIABILITIES AND STOCK- HOLDERS' EQUITY $14,793,702 $10,290,014 =========== ===========
4 SIGNATURE 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. CANDIE'S, INC. By: /s/ Gary Klein --------------------------- Gary Klein, Vice President- Finance August 11, 1995 5