-----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, WStHSVuFUJNeBDQFWEJy1YrTP1hXo2nbIIILfkc83WLzbiZ68PjgMtxS/qvu/lWT x8hgedZGBnPIoLzmOFTnQw== 0000950133-96-002068.txt : 19961003 0000950133-96-002068.hdr.sgml : 19961003 ACCESSION NUMBER: 0000950133-96-002068 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960920 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19961002 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: CD RADIO INC CENTRAL INDEX KEY: 0000908937 STANDARD INDUSTRIAL CLASSIFICATION: RADIO BROADCASTING STATIONS [4832] IRS NUMBER: 521700207 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-24710 FILM NUMBER: 96638480 BUSINESS ADDRESS: STREET 1: 1001 22ND ST NW 6TH FLR CITY: WASHINGTON STATE: DC ZIP: 20037 BUSINESS PHONE: 2022966192 MAIL ADDRESS: STREET 1: 1001 22ND STREET NW 6TH FLOOR CITY: WAHINGTON STATE: DC ZIP: 20037 8-K 1 CD RADIO INC. FORM 8-K FOR DATE OF REPORT 09/20/96 1 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) September 20, 1996 ------------------ CD RADIO INC. -------------------------------------------------- (Exact Name of Registrant as Specified in Charter) Delaware ---------------------------------------------- (State or Other Jurisdiction of Incorporation) 0-24710 52-1700207 ------------------------ -------------------------------- (Commission File Number) (IRS Employer Identification No.) Sixth Floor, 1001 22nd Street, N.W. Washington, D.C. 20037 - --------------------------------------- ---------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code (202) 296-6192 -------------- ------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) Page 1 of 7 Pages Exhibit Index on Page 4 2 ITEM 5. OTHER EVENTS During September 1996, warrants were exercised for the purchase of 752,631 shares of the Company's common stock. In connection with these exercises, the Company received cash in the amount of $4,353,288. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS (c) Exhibits Unaudited Consolidated Financial Statements for CD Radio Inc. and Subsidiary (A Development Stage Enterprise) including: Unaudited Consolidated Balance Sheet as of August 31, 1996 Unaudited Consolidated Statement of Operations for the eight months ended August 31, 1996 Notes to Unaudited Financial Statements Page 2 of 7 Pages 3 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. CD RADIO INC. Date October 1, 1996 By /s/ David Margolese ------------------------------------ David Margolese Chairman of the Board and Chief Executive Officer Page 3 of 7 Pages 4 Exhibit Index
Exhibit Number Exhibit Page - ------ ------- ---- 99 Unaudited Consolidated Financial Statements for CD Radio 5 Inc. and Subsidiary (A Development Stage Enterprise)
Page 4 of 7 Pages EX-99 2 UNAUDITED FINANCIAL STATEMENTS 1 Exhibit Index
Exhibit Number Exhibit Page - ------ ------- ---- 99 Unaudited Consolidated Financial Statements for CD Radio 5 Inc. and Subsidiary (A Development Stage Enterprise)
Page 4 of 7 Pages 2 CD RADIO INC. AND SUBSIDIARY (A DEVELOPMENT STAGE ENTERPRISE) CONSOLIDATED BALANCE SHEET AS OF AUGUST 31, 1996 (UNAUDITED) ASSETS Current Assets: Cash and cash equivalents $ 1,137,390 Prepaid expenses and other 68,628 ------------- Total current assets 1,206,018 ------------- Property and equipment, at cost: Technical equipment 254,200 Office equipment and other equipment 89,220 Demonstration equipment 38,664 ------------- 382,084 Less accumulated depreciation (196,069) ------------- 186,015 Deposits 303,793 ------------- Total Assets $ 1,695,826 ============= LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses $ 6,062 Other 22,799 ------------- Total current liabilities 28,861 Loan from officer 240,000 Deferred rent and other 65,503 ------------- Total liabilities 334,364 ------------- Stockholders' equity: Preferred stock, $0.001 par value, 10,000,000 shares authorized: none issued or outstanding Common stock, $0.001 par value: 50,000,000 shares 9,473 authorized: 9,472,760 issued and outstanding Additional paid-in capital 18,715,706 Accumulated deficit (17,257,050) Deferred compensation on stock options granted (106,667) ------------- Total stockholders' equity 1,361,462 Total liabilities and stockholders' equity $ 1,695,826 =============
The accompanying notes are an integral part of these consolidated financial statements Page 5 of 7 Pages 3 CD RADIO INC. AND SUBSIDIARY (A DEVELOPMENT STAGE ENTERPRISE) CONSOLIDATED STATEMENT OF OPERATIONS FOR THE EIGHT MONTHS ENDED AUGUST 31, 1996 (UNAUDITED) Revenue $ --- Expenses Legal, consulting and regulatory fees 729,528 Other general and administrative 795,864 Research and development 71,007 ---------------- Total expenses 1,596,399 ---------------- Other income (expense) Interest income 57,765 Interest expense (13,151) ---------------- 44,614 ---------------- Net loss $ (1,551,785) ================
The accompanying notes are an integral part of these consolidated financial statements Page 6 of 7 Pages 4 CD RADIO INC. AND SUBSIDIARY (A DEVELOPMENT STAGE ENTERPRISE) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS AUGUST 31, 1996 (UNAUDITED) General The accompanying financial statements do not include all of the information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles. In the opinion of management, all adjustments (consisting only of normal, recurring adjustments) considered necessary to fairly reflect the Company's consolidated financial position and consolidated results of operations have been included. Subsequent event During September 1996, warrants were exercised for the purchase of 752,631 shares of the Company's common stock. In connection with these exercises, the Company received cash in the amount of $4,353,288. If the exercise had taken place at August 31, 1996, the Company's cash and cash equivalents and total assets at that date would have been $5,490,678 and $6,049,114, respectively. Page 7 of 7 Pages -----END PRIVACY-ENHANCED MESSAGE-----