8-K 1 0001.txt FORM 8-K 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 Earliest Event Reported: February 6, 2001 USDATA CORPORATION (Exact name of registrant as specified in its charter) Delaware 000-25936 75-2405152 ------------------------------------------------------------------------------- (State or other jurisdiction of (Commission File Number) (IRS Employer incorporation or organization) Identification No.) 2435 N. Central Expressway, Richardson, Texas 75080-2722 ------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (927) 680-9700 ITEM 5. OTHER EVENTS. ------------ SCP Private Equity Partners II, L.P. ("SCP") elected to exercise the right to acquire shares of Series B Convertible Preferred Stock ("Series B Stock") of USDATA Corporation (the "Company") in exchange for Series A-1 Convertible Preferred Stock ("Series A-1 Stock") of eMake Corporation ("eMake"), a subsidiary of the Company. Safeguard 2000 Capital, L.P. ("Safeguard") elected to exercise the right to acquire shares of Series B Stock of the Company in exchange for Series A-2 Convertible Preferred Stock ("Series A-2 Stock") of eMake. The conversion of the stock by SCP and Safeguard became effective January 1, 2001. Set forth below is the unaudited pro forma balance sheet of the Company after the conversion of the Series A-1 Stock and the Series A-2 Stock for Series B Stock.
USDATA CORPORATION AND SUBSIDIARIES PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET (In thousands, except share and per share data) (Unaudited) Conversion of Emake Series A-1 and A-2 Pro Forma September 30, P/S to USDATA September 30, 2000 Series B P/S 2000 ----------------------------------------------------------------------------------------------------------------------------- ASSETS Current assets: Cash and cash equivalents $ 4,548 $ - $ 4,548 Accounts receivable, net of allowance for doubtful accounts of $483 and $453, respectively 3,329 3,329 Other current assets 1,013 1,013 ----------------------------------------------------------------------------------------------------------------------------- Total current assets 8,890 - 8,890 ----------------------------------------------------------------------------------------------------------------------------- Property and equipment, net 3,897 3,897 Computer software development costs, net 8,442 8,442 Software held for resale, net 923 923 Cost in excess of fair value of tangible net assets purchased, net 3,966 3,966 Intangible and other assets 1,733 1,733 ----------------------------------------------------------------------------------------------------------------------------- Total assets $ 27,851 $ - $ 27,851 ----------------------------------------------------------------------------------------------------------------------------- LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable $ 2,038 $ 2,038 Deferred revenue 1,364 1,364 Accrued compensation and benefits 2,251 2,251 Stockholder notes payable - - Current portion of long-term debt 122 122 Other accrued liabilities 1,222 1,222 ----------------------------------------------------------------------------------------------------------------------------- Total current liabilities 6,997 - 6,997 ----------------------------------------------------------------------------------------------------------------------------- Long-term debt, less current portion 543 543 ----------------------------------------------------------------------------------------------------------------------------- Total liabilities 7,540 - 7,540 ----------------------------------------------------------------------------------------------------------------------------- Commitments and contingencies Preferred stock, $.01 par value, 2,200,000 shares authorized: Series A cumulative convertible redeemable preferred stock; 100,000 shares authorized; 50,000 shares issued and outstanding in 1999. - - Redeemable convertible preferred stock, Series A-1 and Series A-2, $.01 par value, with a redemption and liquidation value of $2.50 per share in 2000; 16,000,000 shares authorized for Series A-1 and 16,000,000 shares for Series A-2; 5,300,000 shares issued and outstanding for each series of preferred stock 26,612 (26,612) - Stockholders' equity (deficit): Preferred stock, $.01 par value, 2,200,000 shares authorized: Series A cumulative convertible preferred stock; 100,000 shares authorized; 50,000 shares issued and outstanding in 2000 5,491 5,491 Series B cumulative convertible preferred stock; 800,000 shares authorized; 265,000 shares issued and outstanding in 2000 26,612 26,612 Common stock, $.01 par value, 40,000,000 shares authorized; 16,324,189 issued in 2000 163 163 Additional paid-in capital 24,293 24,293 Deferred compensation (466) (466) Retained earnings(accumulated deficit) (26,871) (26,871) Treasury stock at cost, 2,318,007 shares in 2000 (7,964) (7,964) Accumulated other comprehensive loss (947) (947) ----------------------------------------------------------------------------------------------------------------------------- Total stockholders' equity (deficit) (6,301) 26,612 20,311 ----------------------------------------------------------------------------------------------------------------------------- Total liabilities and stockholders' equity $ 27,851 $ - $ 27,851 (deficit) ----------------------------------------------------------------------------------------------------------------------------- -----------------------------------------------------------------------------------------------------------------------------
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, thereunto duly authorized. Dated: February 6, 2001 USDATA CORPORATION By: /s/ Robert A. Merry --------------------------------- Name: Robert A. Merry Title: Chief Executive Officer