SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 Date of report: October 8, 1997 WASTE TECHNOLOGY CORP. (Exact name of Registrant as specified in its Charter) DELAWARE (State or other jurisdiction of incorporation or organization) 2-97045 13-2842053 Commission File Number I.R.S Employer Identification Number 5400 Rio Grande Avenue, Jacksonville, Florida 32254 (Address of Principal Executive Offices) (904) 355 5558 (Registrant's Telephone number, including area code) Item 5. Other Events. The Company has prepared the following unaudited balance sheet as of August 31, 1997 which is being submitted to the National Association of Securities Dealers in order to establish that it is in compliance with the listing requirements of NASDAQ. The increase in Stockholder's Equity from the balance sheet for the period ending July 31, 1997 is the result of net income of $245,183 for the month of August, 1997 and the acquisition, by means of a merger with International Baler Corporation, formerly an 85% owned subsidiary, of the shares of the minority shareholders of International Baler Corporation through the issuance of common stock of the Company worth $171,403. WASTE TECHNOLOGY CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS 08/31/97 10/31/96 Unaudited ASSETS Current Assets: Cash and cash equivalents $ 506,506 $ 140,000 Accounts receivable, net of allowance for doubtful accounts of $91,000 2,077,107 1,410,956 Inventories 2,950,042 3,162,208 Prepaid expense and other current assets - 43,208 Deferred income tax asset - - ---------- ---------- Total current assets 5,533,655 4,756,372 Property, plant and equipment at cost 3,675,283 3,633,276 Less: accumulated depreciation 1,317,691 1,104,633 ---------- ---------- Net property, plant & equipment 2,357,592 2,528,643 Other assets: Intangible assets, net 61,929 67,152 Other assets 15,621 18,049 ---------- ---------- Total other assets 77,550 85,201 ---------- ---------- TOTAL ASSETS $7,968,797 $7,370,216 WASTE TECHNOLOGY CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS 08/31/97 10/31/96 Unaudited LIABILITIES & STOCKHOLDERS' EQUITY Current liabilities: Revolving promissory note $ 971,652 $ 531,652 Current maturities of long-term debt 574,535 663,842 Capital Lease Obligation 15,304 14,281 Accounts payable 1,417,515 1,031,224 Accrued liabilities 530,741 498,284 Customer deposits 868,107 683,324 ----------- ----------- Total current liabilities 4,377,854 3,422,607 Accrued legal fees - 315,696 Long-term debt 182,851 210,324 Capital Lease Obligation, less current maturities 688,547 701,568 Minority interest in equity of subsidiary 337,962 509,369 ----------- ----------- Total liabilities 5,587,214 5,159,564 Stockholders' equity Common stock, par value $.01 25,000,000 shares authorized; 2,982,715 shares issued 29,828 27,634 Preferred stock, par value $.0001, 10,000 shares authorized, none issued - - Additional paid-in capital 6,235,569 6,066,356 Accumulated deficit (2,906,123) (2,588,935) ----------- ----------- 3,359,274 3,505,055 Less: Treasury stock, 331,763 shares at cost 419,306 419,306 Less: Note receivable from shareholders 558,385 875,097 ----------- ----------- Total stockholders' equity 2,381,583 2,210,652 ----------- ----------- TOTAL LIABILITIES & STOCKHOLDERS' EQUITY $ 7,968,797 $ 7,370,216 SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be authorized on its behalf by the undersigned duly authorized. Dated: October 8, 1997 Waste Technology Corp. By: /s/ Morton S. Robson Morton S. Robson, Secretary