-----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, PDOgAOluoy2BH2dJakQkIYsAGuwhgSePTbJ4kAaHeTh2ajMR6C/Y+fVdLiTnBdQM LUOYOCYt3X/9eo5dgXMCZA== 0000950137-97-002344.txt : 19970704 0000950137-97-002344.hdr.sgml : 19970704 ACCESSION NUMBER: 0000950137-97-002344 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970702 ITEM INFORMATION: Other events FILED AS OF DATE: 19970703 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: AASCHE TRANSPORTATION SERVICES INC CENTRAL INDEX KEY: 0000927809 STANDARD INDUSTRIAL CLASSIFICATION: TRUCKING (NO LOCAL) [4213] IRS NUMBER: 363964954 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-24576 FILM NUMBER: 97636077 BUSINESS ADDRESS: STREET 1: 10214 N MT VERNON RD CITY: SHANNON STATE: IL ZIP: 61078 BUSINESS PHONE: 8158642421 MAIL ADDRESS: STREET 1: 10214 N MT VERNON ROAD CITY: SHANNON STATE: IL ZIP: 61078 8-K 1 FORM 8-K DATED JULY 2, 1997 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): JULY 2, 1997 AASCHE TRANSPORTATION SERVICES, INC. ------------------------------------ (Exact Name of Registrant as Specified in Its Charter) DELAWARE -------- (State or Other Jurisdiction of Incorporation) 0-24576 36-3964954 ------- ---------- (Commission File Number) (IRS Employer Identification No.) 10214 N. MT. VERNON ROAD, SHANNON ILLINOIS 60178 ------------------------------------------ ----- (Address of Principal Executive Offices) (Zip Code) (815) 864-2421 -------------- (Registrant's Telephone Number, Including Area Code) NONE (Former Name or Former Address, if Changed Since Last Report) 2 ITEM 5. OTHER EVENTS. On July 2, 1997, the Company completed an offering of 540,558 shares of Common Stock, par value $0.0001 per share (the "Common Stock" or the "Shares") at a price of $3.70 per Share and warrants (the "Warrants") to purchase 54,070 shares of Common Stock at an exercise price of $4.625 per share. The Warrants are exercisable at any time within three years after June 24, 1997. The offering was made solely to accredited investors in reliance upon Section 4(2) of the Securities Act of 1933, as amended and Rule 506 of Regulation D promulgated thereunder. The net proceeds of the offering of $1,890,000 are being used to reduce outstanding indebtedness and for general corporate purposes. The net proceeds of the offering are reflected on the pro forma consolidated balance sheets at May 31, 1997 (unaudited) filed herewith. 2 3 EXHIBITS Exhibit 10.1 Pro Forma Consolidated Balance Sheets at May 31, 1997 (Unaudited). 3 4 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. AASCHE TRANSPORTATION SERVICES, INC. Dated: July 2, 1997 By: /s/ Leon M. Monachos ---------------------------- Leon M. Monachos Chief Financial Officer 4 EX-10.1 2 PRO FORMA CONSOLIDATED BALANCE SHEETS 1 Exhibit 10.1 AASCHE TRANSPORTATION SERVICES, INC. PRO FORMA CONSOLIDATED BALANCE SHEETS May 31, 1997 (Unaudited)
As adjusted for Private Placement Actual ($1,890,000 net) ----------- ---------------- ASSETS Current assets: Trade receivables, net $ 6,201,822 $ 6,201,822 Prepaid expenses and other current assets 2,488,581 2,488,581 ----------- ----------- Total current assets 8,690,403 8,690,403 Property and equipment, at cost 36,538,961 36,538,961 Less accumulated depreciation and amortization (13,127,229) (13,127,229) ----------- ----------- Net property and equipment 23,411,732 23,411,732 ----------- ----------- Excess of cost over net assets acquired, net 7,504,756 7,504,756 Deferred income taxes 3,022,000 3,022,000 Other assets 394,729 394,729 ----------- ----------- TOTAL ASSETS $43,023,620 $43,023,620 =========== =========== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Cash overdraft $ 325,950 $ - Accounts payable 1,173,050 1,173,050 Accrued liabilities 2,311,325 2,311,325 Guaranteed obligation of Employee Stock Ownership Plan 230,628 230,628 Line of credit 4,817,247 3,253,197 Current maturities of long-term debt with unrelated parties 3,289,842 3,289,842 Current maturities of long-term debt with related party 995,000 995,000 Current maturities of capital lease obligations with unrelated parties 2,372,791 2,372,791 Current maturities of capital lease obligations with related parties 1,325,508 1,325,508 ----------- ----------- Total current liabilities 16,841,341 14,951,341 Long-term debt with unrelated parties, less current maturities 4,805,607 4,805,607 Long-term debt with related party, less current maturities 2,193,204 2,193,204 Capital lease obligations with unrelated parties, less current maturities 4,596,993 4,596,993 Deferred income taxes 3,677,000 3,677,000 ----------- ----------- Total liabilities 32,114,145 30,224,145 Stockholders' equity: Common stock 263 317 Additional paid-in capital 14,697,660 16,587,606 Guarantee of Employee Stock Ownership Plan obligation (230,628) (230,628) Accumulated deficit (3,557,820) (3,557,820) ----------- ----------- Total stockholders' equity 10,909,475 12,799,475 ----------- ----------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $43,023,620 $43,023,620 =========== ===========
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