-----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, U3bc1nKETDPGIB68WFGEneccydbHhzhDRGoGKllrbK6e0UYhcLZ0cWJZ2h7RJCV3 ULKmFcMaaw6oBxg3C+vtBA== 0000950135-96-002876.txt : 19960702 0000950135-96-002876.hdr.sgml : 19960702 ACCESSION NUMBER: 0000950135-96-002876 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19960627 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19960701 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: BIOSAFE INTERNATIONAL INC CENTRAL INDEX KEY: 0000847468 STANDARD INDUSTRIAL CLASSIFICATION: HAZARDOUS WASTE MANAGEMENT [4955] IRS NUMBER: 954203626 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-25998 FILM NUMBER: 96589120 BUSINESS ADDRESS: STREET 1: 10 FAWCETT ST CITY: CAMBRIDGE STATE: MA ZIP: 02138 BUSINESS PHONE: 6174974500 MAIL ADDRESS: STREET 1: 10 FAWCETT ST CITY: CAMBRIDGE STATE: MA ZIP: 02138 FORMER COMPANY: FORMER CONFORMED NAME: ZOE CAPITAL CORP DATE OF NAME CHANGE: 19920703 8-K 1 BIOSAFE INTERNATIONAL, INC. 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE EXCHANGE ACT OF 1934 JUNE 27, 1996 (Date of Report) BIOSAFE INTERNATIONAL, INC. (Exact Name of Registrant as Specified in Charter) NEVADA 95-4203626 (State or Other Jurisdiction of (I.R.S Employer Incorporation or Organization) Identification No.) 0-25998 (Commission File Number) 10 FAWCETT STREET, CAMBRIDGE, MASSACHUSETTS 02138 (Address of principal executive offices, including zip code) (617) 497-4500 (Registrant's telephone number, including area code) This document contains a total of 6 pages. 2 Item 5. Other Events. ------------ On June 27, 1996 BioSafe International, Inc. announced the completion of a private placement offering at approximately $2 per share, which raised gross proceeds of approximately $6.4 million. The attached pro-forma consolidated balance sheet as of May 31, 1996 and pro-forma statement of operations for the period ending May 31, 1996 gives effect to the offering as if it was completed on May 31, 1996. The Company believes that this information is relevant to update the Company's current financial condition and is deemed to be of importance to security holders. Item 7. Financial Statements and Exhibits --------------------------------- Financial Statements The May 31, 1996 pro-forma financial statements of BioSafe International are included on pages 3 to 6. 1 3 SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BIOSAFE INTERNATIONAL, INC. Date: June 27, 1996 By: /s/ Robert Rivkin ----------------- Vice President, Chief Financial Officer and Secretary 2 4 BIOSAFE INTERNATIONAL, INC. PRO-FORMA BALANCE SHEET AND STATEMENT OF OPERATIONS (UNAUDITED) 3 5 BIOSAFE INTERNATIONAL, INC. PRO-FORMA CONSOLIDATED BALANCE SHEET MAY 31, 1996
ASSETS 5/31/96 ------ Consolidated -- pro-forma entries -- Pro-forma -------------- --------- (Unaudited) Current Assets: Cash $ 588,085 a) $5,820,000 $ 6,408,085 Accounts and notes receivable, net 1,221,372 1,221,372 Prepaid expenses and other current assets 235,109 235,109 ------------ ---------- ---------- ------------ Total current assets 2,044,566 5,820,000 7,864,566 Property held for re-sale 452,500 452,500 Restricted cash 187,500 187,500 Due from former employees 497,193 497,193 Investment in affiliate 23,919 23,919 Property, plant and equipment (net) 14,400,597 14,400,597 Prepaid consulting 556,250 556,250 Deferred financing 1,128,589 1,128,589 Other assets - security deposits 111,422 111,422 ------------ ---------- ---------- ------------ Total assets $ 19,402,537 $5,820,000 $ 25,222,537 ============ ========== ========== ============ LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT) --------------------------------------------- Current liabilities Current portion of long term debt and notes payable $ 1,530,870 $ 1,530,870 Accounts payable 1,574,053 1,574,053 Accrued expenses 1,333,283 1,333,283 Restructuring and discontinued operations 794,128 794,128 Income and franchise taxes payable 25,000 25,000 ------------ ---------- ---------- ------------ Total current liabilities 5,257,334 5,257,334 Deferred income taxes -- -- Long term debt and notes payable 12,000,950 12,000,950 Landfill closure costs 1,500,000 1,500,000 ------------ ---------- ---------- ------------ Total liabilities 18,758,284 18,758,284 ------------ ---------- ---------- ------------ Minority interest 1,040,895 1,040,895 ------------ ---------- ---------- ------------ Stockholders' equity (deficit): Common stock, $.001 par value. Authorized 100,000,000 shares; 11,759,254 shares issued and outstanding as at May 31, 1996 11,759 a) $ 3,300 15,059 (15,059,254 shares pro-forma) Additional paid-in capital 12,716,057 a) 5,816,700 18,532,757 Deficit accumulated during development stage (13,124,458) (13,124,458) ------------ ---------- ---------- ------------ Total stockholders equity (396,642) 5,820,000 5,423,358 ------------ ---------- ---------- ------------ Total liabilities and stockholders equity $ 19,402,537 $5,820,000 $ 25,222,537 ============ ========== ========== ============
4 6 \ BIOSAFE INTERNATIONAL, INC. PRO-FORMA CONSOLIDATED STATEMENT OF INCOME MAY 31, 1996
5/31/96 Proforma Consolidated -- proforma entries -- Statement -------------- --------- Revenues $ 640,894 $ 640,894 Cost of landfill operations: Operating expenses 315,486 315,486 Depreciation 74,498 74,498 ----------- ----------- Total costs of landfill operations 389,984 389,984 ----------- ----------- Gross Profit 250,910 250,910 Selling, General and Administrative expenses 1,423,166 1,423,166 Amortization of prepaid consulting fees 278,125 278,125 Restructuring 250,000 250,000 ----------- ----------- Net Income (loss) from operations (1,700,381) (1,700,381) ----------- ----------- Other income (expenses): Interest income 78,890 78,890 Interest expense & financing costs (471,001) (471,001) Other income and losses 14,710 14,710 Equity in loss of affiliate (30,000) (30,000) ----------- ----------- Total other income (expenses) (407,401) (407,401) ----------- ----------- Income (loss) before income taxes, minority interest and discontinued operations (2,107,782) (2,107,782) Federal and state income taxes 30,125 30,125 ----------- ----------- Net income (loss) before minority interest and discontinued operations (2,137,907) (2,137,907) Minority Interest 3,216 3,216 ----------- ----------- Income (loss) from continuing operations (2,134,690) (2,134,690) Discontinued Operations Loss (1,662,453) (1,662,453) ----------- ----------- Net Income (loss) $(3,797,143) $(3,797,143) =========== ===========
5 7 BIOSAFE INTERNATIONAL, INC. PRO-FORMA ADJUSTMENTS MARCH 31, 1996
DR. CR. PRO-FORMA ENTRY a) - ------------------ CASH $5,820,000 COMMON STOCK $ 3,300 APIC $5,816,700 (TO RECORD THE RAISING OF GROSS PROCEEDS OF $6,411,000 NET OF APPROXIMATELY 9% OFFERING EXPENSES)
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