-----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, Hep8o2n64ufaLUVSFoUI0KrnnUHxrsPI6BjOliy3DlMBtiuF5DLTav+iT6UnxDYe fWKc0UItbqkDViYQ6EMS1Q== 0000893220-98-000954.txt : 19980514 0000893220-98-000954.hdr.sgml : 19980514 ACCESSION NUMBER: 0000893220-98-000954 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980331 FILED AS OF DATE: 19980513 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: ROM TECH INC CENTRAL INDEX KEY: 0000948703 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 232694937 STATE OF INCORPORATION: PA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 10QSB SEC ACT: SEC FILE NUMBER: 000-27102 FILM NUMBER: 98619047 BUSINESS ADDRESS: STREET 1: 2000 CABOT BLVD STREET 2: SUITE 110 CITY: LANGHORNE STATE: PA ZIP: 19047-1833 BUSINESS PHONE: 2157506606 MAIL ADDRESS: STREET 1: 2000 CABOT BLVD SUITE 110 CITY: LANGHORNE STATE: PA ZIP: 19047-1833 10QSB 1 FORM 10QSB FOR ROMTECH, INC. 1 U.S. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-QSB (MARK ONE) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 1998 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 COMMISSION FILE NUMBER 0-27102 ROMTECH, INC. (Exact name of registrant as specified in its charter) PENNSYLVANIA 23-2694937 (State or other jurisdiction of (IRS Employer incorporation or organization) Identification Number) 2000 Cabot Boulevard West, Suite 110 Langhorne, PA 19047-1833 (address of Principal executive offices) ISSUER'S TELEPHONE NUMBER, INCLUDING AREA CODE: 215-750-6606 NOT APPLICABLE (Former name, former address and former fiscal year, if changed since last report.) Check whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES [X] NO [ ] APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS: Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. YES [ ] NO [ ] APPLICABLE ONLY TO CORPORATE ISSUERS State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: 9,371,200 shares of common stock, no par value per share, as of May 12, 1998. Transitional Small Business Disclosure Format (check one): YES [ ] NO [X] 2 ROMTECH, INC. INDEX Page ---- Part I. Financial Information Item 1. Financial Statements: Consolidated Balance Sheet as of March 31, 1998 ............ 3 Consolidated Statements of Operations for the three and nine months ended March 31, 1998 and 1997 ........... 4 Consolidated Statements of Cash Flows for the nine months ended March 31, 1998 and 1997 .................... 5-6 Notes to Consolidated Financial Statements.................. 7-8 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations ..................... 9-11 Part II. Other Information Item 6. Exhibits and Reports on Form 8-K ........................... 12 Signatures ............................................................ 13 Exhibit Index ............................................................ 14 Financial Data Schedule................................................... Page 2 3 ROMTECH, INC. ITEM 1. FINANCIAL STATEMENTS CONSOLIDATED BALANCE SHEET (UNAUDITED)
MARCH 31, 1998 ---- ASSETS Current assets: Cash and cash equivalents $ 513,042 Restricted cash 14,788 Accounts receivable, net of allowances of $192,216 2,825,328 Inventory 815,715 Prepaid expenses 156,602 ----------- Total current assets 4,325,475 Furniture and equipment, net 238,934 Intangibles and other assets 286,910 ----------- Total assets $ 4,851,319 =========== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Note payable $ 43,084 Accounts payable 1,428,632 Accrued expenses 211,300 Capital lease obligations 24,069 ----------- Total current liabilities 1,707,085 Capital lease obligations, net of current portion 28,088 Note payable-long term portion 237,066 Convertible subordinated debt 150,000 ----------- Total liabilities 2,122,239 Stockholders' equity: Common stock, no par value (40,000,000 shares authorized: 9,371,200 issued and outstanding) 8,176,826 Additional paid in capital 1,148,550 Accumulated deficit (6,596,296) ----------- Total stockholders' equity 2,729,080 ----------- Total liabilities and stockholders' equity $ 4,851,319 ===========
See accompanying notes to the consolidated financial statements. Page 3 4 ROMTECH, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
Three months ended Nine months ended March 31, March 31, 1998 1997 1998 1997 ---- ---- ---- ---- Net sales $ 2,953,543 $ 746,235 $ 7,344,727 $ 2,875,718 Cost of sales 1,115,977 308,210 2,752,600 990,706 ----------- ----------- ----------- ----------- Gross profit 1,837,566 438,025 4,592,127 1,885,012 Operating expenses: Product development 99,553 126,162 239,833 305,441 Selling, general and administrative 1,115,183 924,915 2,924,550 3,220,687 ----------- ----------- ----------- ----------- Total operating expenses 1,214,736 1,051,077 3,164,383 3,526,128 Operating income (loss) 622,830 (613,052) 1,427,744 (1,641,116) Interest expense, net 13,608 16,304 37,617 44,784 ----------- ----------- ----------- ----------- Income (loss) before taxes 609,222 (629,356) 1,390,127 (1,685,900) Provision for income tax 1,904 1,730 3,069 1,730 ----------- ----------- ----------- ----------- Net income (loss) 607,318 (631,086) 1,387,058 (1,687,630) Accretion of beneficial conversion feature on preferred stock - 0 - (141,429) (117,991) (228,287) ----------- ----------- ----------- ----------- Net income (loss) attributable to common stock $ 607,318 $ (772,515) $ 1,269,067 $(1,915,917) =========== =========== =========== =========== Net income (loss) per common share: - Basic $ 0.07 $ (0.12) $ 0.15 $ (0.30) - Diluted $ 0.06 $ (0.12) $ 0.13 $ (0.30) Weighted average common shares outstanding: - Basic 9,283,659 6,416,863 8,498,607 6,329,040 - Diluted 9,833,939 6,416,863 9,618,552 6,329,040
See accompanying notes to the consolidated financial statements. Page 4 5 ROMTECH, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
Nine months ended March 31, 1998 1997 ---- ---- Cash flows from operating activities: Net income (loss) $ 1,387,058 $(1,687,630) Adjustment to reconcile net income (loss) to net cash from operating activities: Depreciation and amortization 189,239 160,815 Loss on disposal of equipment - 0 - 3,921 Changes in items affecting operations: Restricted cash 10,000 (14,788) Accounts receivable (1,791,856) (254,479) Prepaid expenses 68,915 (202,147) Inventory (446,133) (236,112) Accounts payable 791,190 520,446 Accrued expenses (81,755) (314,933) ----------- ----------- Net cash provided by (used in) operating activities 126,658 (2,024,907) Cash flows from investing activities: Sales and maturities of short term investments - 0 - 398,952 Purchase of furniture and equipment (139,040) (53,136) Purchase of software rights and other assets (143,900) (216,857) Loan to related party 2,000 2,000 ----------- ----------- Net cash provided by (used in) investing activities (280,940) 130,959 Cash flows from financing activities: Net proceeds from issuance of convertible preferred stock - 0 - 1,105,812 Proceeds from exercise of options and warrants 274,200 - 0 - Repayment of note payable (28,984) (27,368) Repayment of lease obligations (23,366) (27,826) ----------- ----------- Net cash provided by financing activities 221,850 1,050,618 Net increase (decrease) in cash and cash equivalents 67,568 (843,330) Cash and cash equivalents: Beginning of period 445,474 954,663 ----------- ----------- End of period $ 513,042 $ 111,333 =========== ===========
See accompanying notes to the consolidated financial statements. Page 5 6 ROMTECH, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED) (UNAUDITED)
Nine months ended March 31, ------------------- 1998 1997 ---- ---- Supplemental cash flow information: Cash paid for interest $ 42,651 $ 65,051 ========== ======== Non-cash investing and financing activities: Capital lease additions $ - 0 - $ 81,643 ========== ======== Conversion of debt for common stock $ - 0 - $200,000 ========== ========
See accompanying notes to the consolidated financial statements. Page 6 7 ROMTECH, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION The accompanying unaudited interim consolidated financial statements were prepared in accordance with generally accepted accounting principles for interim financial information. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. The Notes to Consolidated Financial Statements included in the Form 10-KSB for the fiscal year ended June 30, 1997 should be read in conjunction with the accompanying statements. These statements include all adjustments the Company believes are necessary for a fair presentation of the statements. The interim operating results are not necessarily indicative of the results for a full year. DESCRIPTION OF BUSINESS RomTech, Inc. (the "Company") develops, publishes, markets and resells a diversified line of personal computer ("PC") software primarily for consumer and business applications. The Company promotes the Galaxy of Games(TM), Galaxy of Home Office Help(TM), Game Master(TM) and Fun and Learning(TM) brand names under the "Galaxy Software" series in order to generate customer loyalty, encourage repeat purchases and differentiate the Galaxy Series products to retailers and consumers. The Company targets the market of home and small business personal computer users. The Company's sales are primarily made through a large national distributor that sells to large national retail chain stores. The Company also sells it products via the Internet and at computer trade shows. The Company is a Pennsylvania Corporation which was incorporated in July 1992 and completed its initial public offering in 1995. The Company's common stock trades on The Nasdaq SmallCap Market under the symbol ROMT. CONSOLIDATION The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Virtual Reality Laboratories, Inc. All inter-company balances and transactions have been eliminated. 2. NEW ACCOUNTING PRONOUNCEMENTS The Company has adopted Statement of Financial Accounting Standards No. 128, "Earnings Per Share", which became effective in the first nine months of fiscal 1998. Adoption of this statement did not have a material impact on the reported earnings per share of the Company. The Company will be required to adopt Statement of Financial Accounting Standards No. 130, "Reporting Comprehensive Income", which will become effective for fiscal year 1999. The Company believes that the adoption of this statement will not have a material financial impact on the Company. The Company will be required to adopt Statement of Financial Accounting Standards No. 131, "Disclosures About Segments of an Enterprise and Related Information", which will become effective for fiscal year 1999. The Company believes that the adoption of this statement will not have a material impact on the Company's footnote disclosure. Page 7 8 ROMTECH, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 3. PREFERRED STOCK On October 18, 1997, 1,000,000 shares of the Company's Class One Convertible Preferred Stock were converted into 303,030 shares of Common Stock at the conversion price of $3.60 per share of Common Stock. As of March 31, 1998, all of the 1,271,340 shares of the Company's Class Two Convertible Preferred Stock (the "Class Two Preferred") have been converted into 907,948 shares of Common Stock and all of the 1,250,000 shares of the Company's Class Three Convertible Preferred Stock (the "Class Three Preferred") have been converted into 1,487,508 shares of Common Stock. As of March 31, 1998, there were no preferred stock shares outstanding. 4. TERMINATED ACQUISITION The Company has terminated an Asset Acquisition Agreement (the "Agreement") entered into with FileABC(TM) L.P. ("FileABC") in October 1996, and will not consummate the acquisition of certain assets of FileABC pursuant to the Agreement. The completion of the transaction had been subject to certain conditions, including the condition that FileABC continue to have a distribution relationship with Franklin Covey Company ("Franklin Covey") for the distribution of software products. Franklin Covey terminated its distribution relationship with FileABC, which was among the reasons for the Company's termination of the Agreement. The Company had advanced FileABC $175,000 in connection with the terms of the Agreement. This amount is recorded in prepaid expenses as an advance payment. Although management currently believes this amount is recoverable and is actively pursuing recovery, there can be no assurance collection will ultimately occur, in which case the advances would be written off. 5. WARRANT AND OPTION EXERCISES On October 1, 1997, the Company adjusted the exercise price of 332,988 warrants for the Company's Common Stock to $2.00 per share, the fair market value of the Company's Common Stock on October 1, 1997, until December 12, 1997. Of the 332,988 warrants, 155,000 were originally issued at $3.60 per share and 177,988 were issued at $6.00 per share. During the second quarter ended December 31,1997, 117,100 such warrants were exercised and the Company received net proceeds of $234,200. During the quarter ended March 31, 1998, 20,000 stock options were exercised and the Company received net proceeds of $40,000. Page 8 9 ROMTECH, INC. ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The accompanying consolidated financial statements as of March 31, 1998 include the accounts of RomTech, Inc., ("RomTech"), and its wholly owned subsidiary, Virtual Reality Laboratories, Inc. ("VRLI"). RESULTS OF OPERATIONS THREE MONTHS ENDED MARCH 31, 1998 AND 1997 Net sales for the three months ended March 31, 1998 were $2,954,000 compared to $746,000 for the three months ended March 31, 1997, representing an increase of $2,208,000 or 296%. This increase resulted primarily from increases in the sales of the Company's Galaxy Software brands of products, including Galaxy of Games, Galaxy of Home Office Help, Game Master and, Fun and Learning products (the "Galaxy Software"), which were partially offset by decreases in sales of certain discontinued products. Cost of sales for the three months ended March 31, 1998 were $1,116,000 compared to $308,000 for the three months ended March 31, 1997, representing an increase of $808,000 or 262%. This increase resulted primarily from the increase in product cost, freight, supplies, packaging and labor costs associated with the increase in sales of the Galaxy Software. The Company's gross profit margin increased to 62.2% in the three months ended March 31, 1998 from 58.7% for the three months ended March 31, 1997. The primary cause for this increase in gross profit margin was the cost reductions achieved through volume efficiencies with the Company's replication and assembly vendors. Product development expenses for the three months ended March 31, 1998 were $100,000 compared to $126,000 for the three months ended March 31, 1997, a decrease of $26,000 or 20.6%. The primary cause for this decrease were reductions in in-house development staff and related costs of $47,000, which were partially offset by a $17,000 increase in outside contractor costs. The above cost reductions reflect the change in the Company's business strategy on developing products for the value line (under $20) segment of the consumer software market versus business enterprise software products. Short development cycles (typically ninety days) and time-to-market are critical success factors in serving the value line segment of the consumer software market. Much longer (typically twelve months or longer) development cycles characterize enterprise software products that require more demanding technical specifications, networking solutions and testing. Selling, general and administrative expenses for the three months ended March 31, 1998 were $1,115,000 compared to $925,000 for the three months ended March 31, 1997, representing an increase of $190,000 or 20.5%. The increase was primarily due to increases in salary and related expenses of $130,000 and in marketing promotional costs of $197,000, which were partially offset by decreases in outside labor and advertising costs of $61,000 and $76,000, respectively. Net interest expense for the three months ended March 31, 1998 was $14,000 compared to $16,000 for the three months ended March 31, 1997, a decrease of $2,000 or 12.5% due to the reduction in principal balances of the Company's debt. Page 9 10 ROMTECH, INC. ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS RESULTS OF OPERATIONS (CONTINUED) NINE MONTHS ENDED MARCH 31, 1998 AND 1997 Net sales for the nine months ended March 31, 1998 were $7,345,000 compared to $2,876,000 for the nine months ended March 31, 1997, representing an increase of $4,469,000 or 155%. This increase resulted primarily from increases in the sales of the Company's Galaxy Software brands of products including, Galaxy of Games, Galaxy of Home Office Help, Game Master and, Fun and Learning products (the "Galaxy Software"), which were partially offset by decreases in sales of certain discontinued products. Cost of sales for the nine months ended March 31, 1998 were $2,753,000 compared to $991,000 for the nine months ended March 31, 1997, representing an increase of $1,762,000 or 178%. This increase resulted primarily from the increase in product cost, freight, supplies, packaging and labor costs associated with the increase in sales of the Galaxy Software products. The discontinuance of direct mail sales in the period ended March 31, 1998 also increased cost of sales because direct mail sales had yielded a higher gross profit but incurred significantly higher marketing expenses which are included in selling, general and administrative expenses. Also, the product mix for the nine months ended March 31, 1998 was weighted more with the lower margin box products than the higher margin jewel case products that dominated the product mix for the nine months ended March 31, 1997. The Company's gross profit margin decreased to 62.5% in the nine months ended March 31, 1998 from 65.5% for the nine months ended March 31, 1997. This decrease was due to the discontinuance of the direct mail marketing efforts and the shift in product mix towards the lower margin box products being offered in retail promotions during the nine months ended March 31, 1998. Product development expenses for the nine months ended March 31, 1998 were $240,000 compared to $305,000 for the nine months ended March 31, 1997, a decrease of $65,000 or 21.3%. However, product development expenses at March 31, 1997 were reduced by a $100,000 development reimbursement fee and would have otherwise been $405,000, which would have resulted in a comparative decrease at March 31, 1998 of $165,000. The decrease was primarily due to reductions in in-house development staff and related costs of $110,000 and outside contractor costs of $43,000. The above cost reductions reflect the change in the Company's business strategy on developing products for the value line (under $20) segment of the consumer software market versus business enterprise software products. Short development cycles (typically ninety days) and time-to-market are critical success factors in serving the value line segment of the consumer software market. Much longer (typically twelve months or longer) development cycles characterize enterprise software products that require more demanding technical specifications, networking solutions and testing. Selling, general and administrative expenses for the nine months ended March 31, 1998 were $2,925,000 compared to $3,221,000 for the nine months ended March 31, 1997, representing a decrease of $296,000 or 9.2%. The decrease was primarily due to decreases in direct mail marketing, advertising, and occupancy costs of $588,000, $267,000 and $22,000, respectively. These decreases were partially reduced by increases in marketing promotion costs, bad debt expense and legal costs of $414,000, $80,000 and $106,000, respectively. Net interest expense for the nine months ended March 31, 1998 was $38,000 compared to $45,000 for the nine months ended March 31, 1997, a decrease of $7,000 or 15.6% due to the reduction in principal balances of the Company's debt. Page 10 11 ROMTECH, INC. ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS LIQUIDITY AND CAPITAL RESOURCES The financial information presented reflects the Company's financial position at March 31, 1998. The quarter ended March 31, 1998 was the Company's third consecutive profitable quarter since its initial public offering in October 1995. As of March 31, 1998, the Company's cash and working capital balances were $513,042 and $2,618,390, respectively. On October 1, 1997, the Company adjusted the exercise price of 332,988 warrants for the Company's Common Stock to $2.00 per share, the fair market value of the Company's Common Stock on October 1, 1997, until December 12, 1997. Of the 332,988 warrants, 155,000 were originally issued at $3.60 per share and 177,988 were issued at $6.00 per share. During the first nine months of fiscal 1998, 117,100 such warrants were exercised and the Company received $234,200 in net proceeds. The Company also received $40,000 in net proceeds from the exercise of 20,000 stock options during the quarter ended March 31, 1998. The proceeds from the exercise of these warrants and stock options, along with the net income of $1,387,058 earned during the first nine months of fiscal 1998, has increased the Company's net tangible assets to $2,729,080, permitting the Company to continue to comply with the Nasdaq SmallCap Market's net tangible assets requirement of $2,000,000. On October 18, 1997, 1,000,000 shares of the Company's Class One Convertible Preferred Stock were converted into 303,030 shares of Common Stock at the conversion price of $3.60 per share of Common Stock. As of March 31, 1998, all of the 1,271,340 shares of the Company's Class Two Convertible Preferred Stock (the "Class Two Preferred") have been converted into 907,948 shares of Common Stock and all of the 1,250,000 shares of the Company's Class Three Convertible Preferred Stock (the "Class Three Preferred") have been converted into 1,487,508 shares of Common Stock. As of March 31, 1998, there were no preferred stock shares outstanding. The Company's ability to sustain continued revenue growth, profitability and a positive cash flow depends upon a variety of factors, including: the timeliness and success of developing and selling its products; the costs of developing, producing and marketing such products; consumers' continuing demand for value priced software; competition; and various other factors, many of which may be beyond the Company's control. In the future, the Company's capital requirements will be affected by each of these factors. The Company believes that its cash and working capital balances will be sufficient to fund the Company's operations for the foreseeable future. FORWARD-LOOKING STATEMENTS This quarterly report on Form 10-QSB contains forward-looking statements regarding the Company's ability to fund its operations for the foreseeable future, and the impact of certain accounting standards on the Company's financial position, all of which involve certain risks and uncertainties. Actual events and the actual future results of the Company may differ materially from the results discussed in the forward-looking statements due to various factors, including, but not limited to, the allocation of adequate shelf space for the company's products in major chain retail stores; successful sell-through results for the Company's products at retail stores; the inability to obtain and/or develop content for its products in a cost effective manner; the continued expansion of the computer in homes in North America; the ability to deliver products in response to orders within a commercially acceptable time frame; downward pricing pressure; the timeliness and success of developing and selling products; the acceptance by the market of the company's Galaxy Online games series; the costs of developing, producing and marketing such products; access to distribution channels; consumers' continuing demand for value-priced software; the renewal of licenses for key software products; competition; and various other factors, many of which are beyond the Company's control. Page 11 12 ROMTECH, INC. ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K (a) Exhibits Exhibit No. Description of Exhibit ------------ ---------------------- 27.1 Financial Data Schedule (b) Reports on Form 8-K On January 15, 1998, the Company filed a report on Form 8-K regarding a press release announcing the appointment of Robert M. Aiken, Jr. to the board of directors, who replaced John P. Kirwin, III who resigned as of December 31, 1997. On January 16, 1998 the Company filed a report on Form 8-K regarding a press release stating the Company's sales and earnings for the quarter ended December 31, 1997. On April 29, 1998 the Company filed a report on From 8-K regarding a press release stating the Company's sales and earnings for the quarter ended March 31, 1998. Page 12 13 ROMTECH, INC. SIGNATURES In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. ROMTECH, INC. (Registrant) Date: May 13, 1998 /s/ Joseph A. Falsetti ------------ ------------------------------ Joseph A. Falsetti Chief Executive Officer Principal Financial Officer Date: May 13, 1998 /s/ Gerald W. Klein ------------ ------------------------------ Gerald W. Klein Vice President and Chief Financial Officer Page 13 14 ROMTECH, INC. EXHIBIT INDEX Exhibit No. Description of Exhibit Page Number ----------- ---------------------- ----------- 27 Financial Data Schedule Page 14 EX-27 2 FINANCIAL DATA SCHEDULE
5 1 9-MOS JUN-30-1998 MAR-31-1998 513,042 0 2,825,328 192,216 815,715 4,325,475 238,934 0 4,851,319 1,707,085 0 0 0 8,176,826 1,148,550 4,851,319 7,344,727 7,344,727 2,752,600 2,752,600 3,164,383 0 37,617 1,390,127 3,069 1,387,058 0 0 0 1,387,058 .15 .13
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