-----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, E0+yt0S8RrXVUff3xJ8rvbi6JLnlvXjaE/Us4IU9z503OZZLlZT0Bfnpa1VJKVsW 31gy/Fwd9HY9MdDJNO7s8A== 0000903112-98-000019.txt : 19980113 0000903112-98-000019.hdr.sgml : 19980113 ACCESSION NUMBER: 0000903112-98-000019 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980106 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980112 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: HEMASURE INC CENTRAL INDEX KEY: 0000919745 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 043216862 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-23776 FILM NUMBER: 98504880 BUSINESS ADDRESS: STREET 1: 140 LOCKE DR CITY: MARLBOROUGH STATE: MA ZIP: 01752 BUSINESS PHONE: 5084856850 MAIL ADDRESS: STREET 1: 140 LOCKE DR CITY: MARLOBOROUGH STATE: MA ZIP: 01752 FORMER COMPANY: FORMER CONFORMED NAME: HEMEASURE INC DATE OF NAME CHANGE: 19940303 8-K 1 FORM 8-K As filed with the Securities and Exchange Commission on January 12, 1998 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): January 6, 1998 HemaSure Inc. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 0-19410 04-3216862 - ----------------------------- ------------- -------------------- (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 140 Locke Drive, Marlborough, Massachusetts 01752 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) (Registrant's telephone number, including area code): (508) 485-6850 --------------------- Not Applicable (Former name or former address, if changed since last report) Item 5. Other Events. Pursuant to the request of the Nasdaq Listing Qualifications Panel (the "Panel"), and in connection with the Panel's determination to grant HemaSure Inc. (the "Company") listing on the Nasdaq Small Cap Market, included in Item 7 below are the consolidated balance sheets of the Company as of November 30, 1997. Item 7. Financial Statements and Exhibits. (a) Financial Statements of the Registrant. Consolidated Balance Sheets of the Registrant as of November 30, 1997, historical (unaudited) and pro forma as adjusted..............F-1 Note to Consolidated Balance Sheets.................................F-2 2 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. HEMASURE INC. (Registrant) Date: January 12, 1998 By: /s/ James B. Murphy -------------------- Name: James B. Murphy Title: Senior Vice President Finance and Administration 3
HemaSure Inc. Consolidated Balance Sheets (In thousands) November 30, 1997 --------------------------------------------------------------- Historical (unaudited) Before Pro forma As Adjusted Adjustments Adjustments(1) (unaudited) ASSETS Current assets: Cash and cash equivalents $ 2,289 $ 2,289 Marketable securities 6,784 6,784 Accounts receivable 457 457 Inventories 423 423 Assets held for sale 150 150 Prepaid expenses 49 49 ---------------------------------------------------------------- Total current assets 10,152 -- 10,152 Property and equipment, net 1,944 1,944 Other assets 65 65 ----------------- ------------------- ---------------- Total assets $ 12,161 $ -- $ 12,161 ================= =================== ================ LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 866 $ 866 Accrued restructuring expenses 532 532 Accrued expenses 1,217 1,217 Note payable - current portion 28 28 Capital lease obligations-current portion 242 242 ---------------------------------------------------------------- Total current liabilities 2,885 -- 2,885 Capital lease obligations 342 342 Note payable 84 84 Convertible subordinated note payable 8,687 (8,687) -- ---------------------------------------------------------------- Total liabilities 11,998 (8,687) 3,311 ---------------------------------------------------------------- Stockholders' equity: Common stock 82 8 90 Additional paid-in-capital 60,753 8,679 69,432 Unearned compensation (216) (216) Unrealized holding loss of available for sale marketable securities (3) (3) Accumulated deficit (60,453) (60,453) ----------------- ------------------- ---------------- Total stockholders' equity 163 8,687 8,850 ----------------- ------------------- ---------------- Total liabilities and stockholders' equity $ 12,161 $ -- $ 12,161 ================= =================== ================
F-1 1 Note to Consolidated Balance Sheets (1) The pro forma adjustment reflected in the balance sheet of November 30, 1997 represents the conversion of debt by HemaSure Inc. (the "Company") related to a Restructuring Agreement, dated January 23, 1997 (the "Restructuring Agreement"), in connection with the acquisition of the plasma product unit of Novo Nordisk in May 1996. The principal amount of the Note was approximately $11,700,000. The conversion reflected in this pro forma Consolidated Balance Sheet includes the assumed forgiveness of approximately $3,000,000 of this debt pursuant to the terms of the Restructuring Agreement between the Company and the holder of the note. There is no impact on the Consolidated Statement of Operations or the Consolidated Statement of Cash Flows of the Company from this pro forma adjustment. The holder of the note has contested the forgiveness of the $3,000,000 amount. The Company believes that such claims are without merit. However, the impact on Total stockholders' equity in the balance sheet would be the same even if it were to be determined that the $3,000,000 forgiveness was not warranted because the loss on re-establishment of the $3,000,000 obligation, and its inclusion in accumulated deficit, would be offset by the issuance of additional common shares with related increases to common stock at par and additional paid-in-capital. F-2 -----END PRIVACY-ENHANCED MESSAGE-----