UNITED STATES
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: October 3, 2002
Cytomedix, Inc.
(Exact name of registrant as specified in its charter)
Delaware
0-28443
23-3011702
(State of Incorporation) (Commission File Number) (IRS Employer Identification Number)
1523 S. Bowman Road, Suite A, Little Rock, Arkansas 72211
(Address of principal executive offices)
Registrant’s telephone number, including area code 1-888-312-2947
Eden Tower Plaza, 790 Frontage Road, Northfield, Illinois 60093
(Former name or former address, if changed since last report)
Item 5. Other Events
As reported in form 8-K filed on August 8, 2001, Cytomedix, Inc. (the "Company"), filed a voluntary petition for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court of the Northern District of Illinois, Eastern Division (Case No. 01- 27610). Since that time, the Company has been unable to adequately prepare the 10-QSBs for the second and third quarters of 2001, a 10-KSB for 2001 and the 10-QSBs for the first and second quarters of 2002. The Company will begin to file its reports required under the Securities Exchange Act of 1934 (the “Exchange Act”) as soon as the Company can obtain audited financial statements.
The Company has continued to file with the Bankruptcy Court its monthly Operating Reports. Until such time as the reports required under the Exchange Act can be prepared and filed, the Company will file the information contained in its Operating Reports with the Securities and Exchange Commission under the cover of a Form 8-K. The Company's Operating Report for the month ending May 31, 2002, is provided under Item 7 of this Form 8-K.
The Company cautions investors not to place undue reliance upon the information contained in the Operating Report. The Operating Report contains unaudited information. There can be no assurance that, from the perspective of an investor or potential investor, that the Operating Report is complete. Also, the Operating Report does not contain all of the information which would be reported in a periodic report filed pursuant to the Exchange Act. Furthermore, the period covered by the Operating Report is shorter than the period covered by the required periodic reports under the Exchange Act. Actual results for such periods may differ materially from the information contained in the Operating Report, and the Company undertakes no obligations to update or revise its Operating Reports.
Item 7. Financial Statements and Exhibits
CYTOMEDIX, INC.
CASE NUMBER 01 B 27610
FOR MONTH ENDING MAY 31, 2002
SUMMARY OF CASH RECEIPTS AND DISBURSEMENTS
BEGINNING BALANCE IN ALL ACCOUNTS | $ 209,811 |
RECEIPTS: 1. Receipts from Operations 2. Other Receipts | 21,603 156,330 |
DISBURSEMENTS: 3. Net Payroll a. Officers b. Others | 23,704 5,499 |
4. Taxes a. Federal Income Taxes b. FICA Withholdings c. Employee Withholdings d. Employers FICA e. State Income Tax f. State Employee Withholdings g. All Other State Taxes | 0 3,179 7,006 3,179 0 2,450 88 |
5. Necessary Expenses: a. Rent or Mortgage Payments b. Utilities c. Insurance - Health premiums d. Merchandise Bought for Manufacturers e. Other Necessary Expenses | 3,000 0 2,453 0 90,173 |
TOTAL DISBURSEMENTS: | $140,731 |
NET RECEIPTS (DISBURSEMENTS) CURRENT PERIOD | $ 37,202 |
ENDING BALANCE (in bank account) | $247,013 |
ENDING BALANCE (in various/petty cash) | $ 0 |
ENDING BALANCE IN ALL ACCOUNTS | *$247,013 |
Note: Cash on hand includes $232,981 which represents the cash collateral of Curative Health services, Inc. & Waverly Investments LLC as described in the Debtors Cash Collateral Motions, for which use by the Debtor has not been authorized by the Court.
RECEIPTS LISTING
Receipt Date | Description | Amount |
5/5/02 | Turning Point Wound Care | $5,000 |
5/6/02 | Methodist Hospital | 6,750 |
5/6/02 | De Puy Royalty payment | 120,780 |
5/14/02 | Deaconess Hospital | 13,500 |
5/14/02 | Methodist Hospital | 3,375 |
5/14/02 | Presbyterian Hospital | 1,750 |
5/20/02 | Cobra payment | 403 |
5/23/02 | Methodist Hospital | 3,375 |
5/30/02 | Deaconess Hospital | 3,000 |
5/30/02 | DIP Loan | 20,000 |
Total Receipts from Operations | $177,933 |
DISBURSEMENT LISTING
Disbursement Date | Description | Amount |
5/1/02 | Gray Cary - patent legal retainer | $ 2,000 |
5/1/02 | D. Dee’s - travel expense payment | 2,500 |
5/6/02 | Judy Beriou - Marketing study | 3,000 |
5/6/02 | SHPS - Flex Spending admin fees | 2,182 |
5/7/02 | Business Network - rent and admin services | 4,186 |
5/7/02 | US Trustee | 1,000 |
5/7/02 | Guardian Health - insurance payment | 2,453 |
5/7/02 | J. Swink - travel advance | 2,500 |
5/7/02 | C. Fylling - travel advance | 15,000 |
5/8/02 | Winfield Laboratories - Clinical supplies | 135 |
5/9/02 | K. Smith - travel expenses | 5,079 |
5/15/02 | Paychex - payroll & taxes | 23,591 |
5/17/02 | D. Dees - travel expenses | 2,000 |
5/17/02 | Document Technologies Inc. - Plan of Reorg reproduction | 10,322 |
5/17/02 | R. Coleman & Associates - retainer | 24,000 |
5/21/02 | L. Wilcox Consulting Services Inc. - accounting | 9,350 |
5/23/02 | J. Beriou - travel expense | 1,697 |
5/23/02 | Minnesota Department of Revenue - payroll taxes | 277 |
5/30/02 | L. Wilcox Consulting Services Inc. - accounting | 8,222 |
5/31/02 | Paychex - payroll & taxes | 21,237 |
- | TOTAL | $140,731 |
STATEMENT OF INVENTORY
Beginning Inventory | $0 |
Add: purchases | $0 |
Less: goods sold (cost basis) | $0 |
Ending Inventory | $0 |
PAYROLL INFORMATION STATEMENT
Gross Payroll for this period | $45,105 |
Payroll taxes due but unpaid ** (See Note under Tax Questionnaire) | $20,033 |
STATUS OF PAYMENTS TO SECURED CREDITORS AND LESSORS
Name of Creditor/Lessor | Date regular payment is due | Amount of regular payment | Number of Payments Delinquent* | Amount Payments Delinquent* |
- | - | - | - | - |
STATEMENT OF AGED RECEIVABLES
ACCOUNTS RECEIVABLE
Beginning of month balance | $ 65,900 |
Add: sales on account | $ 21,603 |
Less: collections | $ 32,153 |
End of month balance | $ 55,350 |
STATEMENT OF ACCOUNTS PAYABLE (POST-PETITION)
ACCOUNTS PAYABLE
Beginning of month balance | $ 35,485 |
Add: credit extended** | $573,639 |
Less: payments on account | $ 2,182 |
End of month balance | $606,942 |
** Legal bills from Williams & Anderson and Robert F. Coleman for prior months (since pre-petition) received and recorded in May
TAX QUESTIONNAIRE
YES | NO | |
Federal income taxes | X | |
FICA withholdings | X | X |
Employee's withholdings | X | X |
Employer's FICA | X | X |
Federal unemployment taxes | X | |
State income taxes | ||
State employee withholdings | X | X |
All other state taxes |
**Note: Cytomedix has prepared payroll tax returns for Q4 2001. Cytomedix has paid 2002 payroll taxes. Cytomedix made the final Q4 2001 tax payments in September 2002.
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.
Cytomedix, Inc.
/s/Kent Smith
Kent Smith
Chief Executive Officer
Date: October 3, 2002
