-----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, MGDIsA021QmKAZlp/5z2B9pIX4k/ghQsNm5cT5huoGRF+U3kXIzXxvlxbruxHjTa kCtxwhxcD3lxPERaj9ZA2Q== 0000950109-00-002239.txt : 20000518 0000950109-00-002239.hdr.sgml : 20000518 ACCESSION NUMBER: 0000950109-00-002239 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20000424 FILED AS OF DATE: 20000517 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FANTOM TECHNOLOGIES INC CENTRAL INDEX KEY: 0000864300 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC HOUSEWARES & FANS [3634] IRS NUMBER: 980103552 FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 6-K SEC ACT: SEC FILE NUMBER: 000-26308 FILM NUMBER: 638494 BUSINESS ADDRESS: STREET 1: 1110 HANSLER RD STREET 2: P O BOX 1004 CITY: WELLAND ONTARIO CANA STATE: A6 BUSINESS PHONE: 3016587581 MAIL ADDRESS: STREET 1: 1110 HANSLER ROAD, PO BOX 1004 STREET 2: WELLAND CITY: ONTARIO FORMER COMPANY: FORMER CONFORMED NAME: IONA APPLIANCES INC DATE OF NAME CHANGE: 19950710 6-K 1 FORM 6K FORM 6-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of April, 2000 Fantom Technologies Inc. (Registrant's name) 1110 Hansler Road Welland, Ontario, Canada L3B 5S1 (905) 734-7476 (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F: Form 20-F Form 40-F X --- --- Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes No X --- --- Documents Included as Part of this Report No. Document --- -------- 1. Press release dated April 24, 2000. 2. Press release dated April 24, 2000. 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, thereunto duly authorized. Date: May 16, 2000 FANTOM TECHNOLOGIES INC. By: "Walter J. Palmer" ----------------------------------------- Name: Walter J. Palmer Title: Secretary EX-99 2 PRESS RELEASE NEWS RELEASE - -------------------------------------------------------------------------------- BREAKTHROUGH IN POWER-CONTROL TECHNOLOGY Profound Implications for Batteries and Household Appliances TORONTO, April 24, 2000 - Fantom Technologies Inc. (TSE: FTM; NASDAQ: FTMTF) announced today that it has identified a revolutionary physical concept that can extend the output of batteries by as much as 40% and allow batteries to be recharged in minutes rather than hours. It can also cut the electricity use by many appliances by as much as 50%. This breakthrough is a result of collaborative research between Fantom and Omachron Technologies, Inc. The technology transfers energy between devices in the form of a specially-tuned electronic signal, called a "pulse train," that is neither alternating nor direct current. The pulse train can be delivered by means of a uniquely programmed circuit board. Several patent applications have been filed covering the scientific principles of the technology. It is applicable to, but not limited to use in: . Discharging batteries by optimizing the conversion of chemical to electrical energy, thereby increasing their capacity. . Charging batteries by minimizing the heat produced and maximizing their total capacity, while minimizing the total energy used to charge the batteries. . Accurately determining the remaining capacity of batteries, something that is problematic with many of the most modern batteries. . Improving the overall electromechanical efficiency of a system in which electric motors drive fluids or mechanical systems, such as in refrigerators, freezers, air conditioners and vacuum cleaners. "We anticipate that this technology will allow many cord-free products to finally deliver on the promise of performance equivalent to traditional plug-ins," commented Allan Millman, Fantom Technologies' President & CEO. "It's a leap forward we will first apply to a new line of floor-care products we plan to launch in late fall 2000." Fantom has acquired exclusive rights to the power-control technology for a wide range of consumer products, and plans to offer licenses to allow the technology to be used by other companies. About Fantom Technologies Fantom Technologies Inc. of Ontario, Canada is a growth-oriented, household-appliance company, seeking the best ideas in technology that will make daily living better for consumers. Over the past five years, Fantom has changed the face of the vacuum-cleaner industry in North America with its line of dual-cyclonic vacuums. The Company is developing several new products based on proprietary technology and has aggressive plans to expand the markets and geographic territories in which it competes. Since May 1998, sixty-nine utility patent applications have been filed for technologies the Company is either acquiring or exclusively licensing through its association with Omachron Technologies, Inc. Microbiological Water Purifier to be Available Soon There's good news for consumers concerned about the quality of their drinking water. The first product resulting from the collaborative R & D efforts between Fantom and Omachron - the CALYPSO(TM) Microbiological Water Purifier - is on-track for introduction this summer. This innovative, counter-top appliance utilizes activated oxygen, known as ozone, to kill micro-organisms. This same process is used in more than 3,000 state-of-the-art municipal water-treatment systems around the world. The CALYPSO(TM) product is receiving accolades from both retailers and industry professionals. 2 For more information about Fantom Technologies, visit the Company's web site at www.fantom.com. The foregoing information includes certain statements relating to the Company which are forward-looking statements under Section 21E of the United States Securities Exchange Act of 1934. The words "anticipate", "plan" and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements are based on assumptions made by, and information available to, the Company. However, there are important factors that could cause actual results to differ materially from those in such forward-looking statements including, among others, the contingencies arising from the uncertainties which are inherent in the development of new technology and the unanticipated costs and time delays which often arise in the process of developing new products based on innovative technology. The Company does not intend, and assumes no obligation, to update the forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. -30- For more information, please contact: Allan Millman President & CEO 416-622-9740 Ext. 232 Steve Doorey Vice President, CFO 905-734-7476 Ext. 281 Jacqui d'Eon JAd'E Communications 905-521-8891 3 EX-99.2 3 PRESS RELEASE NEWS RELEASE - -------------------------------------------------------------------------------- Third Quarter Results Reported By Fantom Technologies Inc. Also Declare Dividend TORONTO, April 24, 2000 - Third quarter results were announced today by Fantom Technologies Inc. (TSE: FTM; NASDAQ: FTMTF). For the three months ended March 31, 2000 net income was $1.6 million or $0.18 per share (based on 9,099,181 shares outstanding) compared with $4.0 million or $0.44 per share (based on 9,008,802 shares outstanding) for the year-earlier period. Sales were $57.4 million compared with $65.6 million for the year-earlier period. For the nine months ended March 31, 2000 net income was $8.5 million or $0.94 per share (based on 9,080,971 shares outstanding) compared with $10.9 million or $1.21 per share (based on 8,997,360 shares outstanding) for the year-earlier period. Sales were $175.3 million compared with $180.7 million for the year-earlier period. Commenting on the Company's results, Fantom Technologies' President & CEO Allan Millman said, "The third quarter was a challenging period for the Company due to intensified competitive activity within the bagless segment of the vacuum-cleaner market. Several competitive bagless systems are now available and more introductions are expected in upcoming months. Despite the increasing competition, we were successful in expanding distribution during the quarter and our products are now featured across the United States at both Wal-Mart and Sam's Club. "This is a period of transition for the Company. As our existing product line matures, we are preparing to introduce exciting new appliances that incorporate leading-edge, proprietary technology. It all begins this summer with the planned launch of our first water-treatment entry - the CALYPSO(TM) Microbiological Water Purifier. Both retailers and industry professionals are applauding this innovative, counter-top appliance. We intend to follow this, in late fall, with the introduction of a revolutionary line of floor-care products. "Several other ground-breaking products are on the drawing boards, all of them originating from our collaborative R & D efforts with Omachron Technologies, Inc." Fantom Technologies also announced today that its Board of Directors declared a quarterly cash dividend of 5 cents per share payable on June 30, 2000 to shareholders of record at the close of business on May 31, 2000. About Fantom Technologies Fantom Technologies Inc. of Ontario, Canada is a growth-oriented, household-appliance company, seeking the best ideas in technology that will make daily living better for consumers. Over the past five years, Fantom has changed the face of the vacuum cleaner industry in North America with its line of dual-cyclonic vacuums. The Company is developing several new products based on proprietary technology and has aggressive plans to expand the markets and geographic territories in which it competes. Since May 1998, sixty-nine utility patent applications have been filed for technologies the Company is either acquiring or exclusively licensing through its association with Omachron Technologies, Inc. For more information about Fantom Technologies, visit the Company's web site at www.fantom.com. The foregoing information includes certain statements relating to the Company which are forward-looking statements under Section 21E of the United States Securities Exchange Act of 1934. The words "planned", "intend" and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements are based on assumptions made by, and information available to, the Company. However, there are important factors that could cause actual results to differ materially from those in such forward-looking statements including, among others, the contingencies arising from the uncertainties which are inherent in the development of new technology and the unanticipated costs and time delays which often arise in the process of developing new products based on innovative technology. The Company does not intend, and assumes no obligation, to update the forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. 2 Financial Highlights (Unaudited, in Canadian Dollars)
- --------------------------------------------------------------------------------------------------------------------------------- Consolidated Statements of Income - --------------------------------------------------------------------------------------------------------------------------------- Nine Months Ended Three Months Ended - --------------------------------------------------------------------------------------------------------------------------------- March 31 2000 1999 2000 1999 - --------------------------------------------------------------------------------------------------------------------------------- Sales $175,321,281 $180,748,331 $57,356,592 $65,628,821 - --------------------------------------------------------------------------------------------------------------------------------- Cost of Goods Sold $111,757,579 $114,828,728 $37,601,964 $41,663,033 - --------------------------------------------------------------------------------------------------------------------------------- Gross Margin $63,563,702 $65,919,603 $19,754,628 $23,965,788 - --------------------------------------------------------------------------------------------------------------------------------- Selling, General & Administrative $49,060,564 $47,371,735 $17,005,093 $17,084,328 - --------------------------------------------------------------------------------------------------------------------------------- Research and Development Expense $1,044,552 $1,634,875 $108,249 $637,315 - --------------------------------------------------------------------------------------------------------------------------------- Finance Charges ($96,171) ($40,087) $55,940 $25,244 - --------------------------------------------------------------------------------------------------------------------------------- Income Before Taxes $13,554,757 $16,953,080 $2,585,346 $6,218,901 - --------------------------------------------------------------------------------------------------------------------------------- Tax Provisions $5,012,000 $6,099,000 $952,794 $2,233,000 - --------------------------------------------------------------------------------------------------------------------------------- Net Income $8,542,757 $10,854,080 $1,632,552 $3,985,901 - --------------------------------------------------------------------------------------------------------------------------------- Earnings Per Share (Basic) $0.94 $1.21 $0.18 $0.44 - --------------------------------------------------------------------------------------------------------------------------------- Average # of Shares Outstanding 9,080,971 8,997,360 9,099,181 9,008,802 - --------------------------------------------------------------------------------------------------------------------------------- Earnings Per Share (Fully-Diluted) $0.90 $1.16 $0.18 $0.42 - ---------------------------------------------------------------------------------------------------------------------------------
3 Financial Highlights (Unaudited, in Canadian Dollars) - -------------------------------------------------------------------------------- Consolidated Balance Sheets - -------------------------------------------------------------------------------- March 31 2000 1999 - -------------------------------------------------------------------------------- Cash $ - $1,148 - -------------------------------------------------------------------------------- Other Current Assets $70,279,259 $71,783,262 - -------------------------------------------------------------------------------- Deferred Development Costs, Net of Amortization $2,886,114 $1,639,016 - -------------------------------------------------------------------------------- Property, Plant & Equipment at Cost $44,506,221 $34,190,818 - -------------------------------------------------------------------------------- Less Accumulated Depreciation ($9,992,990) ($6,668,393) - -------------------------------------------------------------------------------- Net Fixed Assets $34,513,231 $27,522,425 - -------------------------------------------------------------------------------- Total Assets $107,678,604 $100,945,851 - -------------------------------------------------------------------------------- Bank Indebtedness $5,647,989 $0 - -------------------------------------------------------------------------------- Other Current Liabilities $31,377,826 $37,984,563 - -------------------------------------------------------------------------------- Deferred Income Taxes $3,702,116 $3,855,300 - -------------------------------------------------------------------------------- Deferred Currency-Hedging Exchange Gains $0 $3,136,491 - -------------------------------------------------------------------------------- Share Capital $28,652,827 $27,910,287 - -------------------------------------------------------------------------------- Retained Earnings $38,297,846 $28,059,210 - -------------------------------------------------------------------------------- Total Liabilities & Shareholders' Equity $107,678,604 $100,945,851 - -------------------------------------------------------------------------------- 4 For more information, please contact: Allan Millman Steve Doorey President & CEO Vice President, CFO 416-622-9740 Ext. 232 905-734-7476 Ext. 281 5 -----END PRIVACY-ENHANCED MESSAGE-----