UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934
Date of Report March 25, 1996
Auto-trol Technology Corporation
(Exact name of registrant as specified in its charter)
Colorado 0-9247 84-0515221
(State of Incorporation) (Commission (IRS Employer of
File Number) Identification No.)
12500 North Washington, Denver, Colorado 80241-4919
(Address of Principal executive offices)
Area code (303) 452-4919
(Registrant's Telephone Number including area code)
AUTO-TROL TECHNOLOGY CORPORATION
REPORT ON FORM 8-K
FOR THE MONTH ENDED FEBRUARY 29, 1996
TABLE OF CONTENTS
Page
----
ITEM 1 Changes in Control of Registrant 1
ITEM 2 Acquisition or Disposition of Assets 1
ITEM 3 Bankruptcy or Receivership 1
ITEM 4 Changes in Registrant's Certifying Accountant 1
ITEM 5 Other Events 1
ITEM 6 Resignations of Registrant's Directors 1
ITEM 7 Pro Forma Financial Information 2
ITEM 8 Change in Fiscal Year 3
Signatures 4
AUTO-TROL TECHNOLOGY CORPORATION
ITEM 1 CHANGES IN CONTROL OF REGISTRANT
None
ITEM 2 ACQUISITION OR DISPOSITION OF ASSETS
None
ITEM 3 BANKRUPTCY OR RECEIVERSHIP
None
ITEM 4 CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
None
ITEM 5 OTHER EVENTS
On March 22, 1996 the Company converted $7.5 million of related party
debt to equity. A total of 2,142,857 shares of Common Stock was issued. A
consolidated proforma balance sheet reflecting this debt conversion is included
in this Form 8-K filing under Item 7.
ITEM 6 RESIGNATION OF REGISTRANT'S DIRECTORS
None
ITEM 7 FINANCIAL STATEMENTS AND EXHIBITS
See Consolidated Pro Forma Balance Sheet on page 2.
No Exhibits
1
AUTO-TROL TECHNOLOGY CORPORATION
CONSOLIDATED PRO FORMA BALANCE SHEETS
(IN THOUSANDS)
(UNAUDITED)
Debt to Pro Forma
February 29, Equity Effect of
ASSETS 1996 Conversion Transaction
------------- ------------ ------------
Current Assets:
Cash and Cash Equivalents $2,011 $2,011
Receivables:
Trade, Net of Allowance of $113,000 2,297 2,297
Other 55 55
Inventories 236 236
Service Parts & Prepaid Expenses 506 506
------------- ------------
Total Current Assets 5,104 5,104
Property, Facilities and Equipment:
Land 356 356
Building and Improvements 8,098 8,098
Machinery and Equipment 9,293 9,293
Furniture Fixtures and Leasehold Improvements 895 895
------------- ------------
Total Gross PP&E 18,641 18,641
Less Accumulated Depreciation and Amortization (11,873) (11,873)
------------- ------------
Total Net PP&E 6,768 6,768
Non-Current Service Parts 47 47
Purchased Software, Net of Accumulated
Amortization of $1,131,000 473 473
Other Long-Term Assets 73 73
------------- ------------
Total Assets $ 12,465 $ 12,465
============= ============
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
Current Portion of L/T Debt $ 240 $ 240
Current Portion of Capital Lease Obligations 217 217
Accounts Payable 1,143 1,143
Interest Payable 199 199
Accrued Compensation & Taxes 591 591
Income Tax Payable 81 81
Unearned Service Revenue & Customer Deposits 994 994
Other Liabilities 1,188 1,188
------------- ------------
Total Current Liabilities 4,652 4,652
Capital Lease Obligations 118 118
Long-Term Debt, Related Party, $7,900,000, $400,000 after
conversion 9,820 (7,500) 2,320
------------- ------------
Total L/T Liabilities 9,938 2,438
Shareholders' Equity:
Common Stock, $.02 Par Value:
Authorized 40,000,000 Shares: Issued Including
Treasury Shares 3,936,158, 6,079,015 Shares after
conversion 79 43 122
Additional Paid-In Capital 71,683 7,457 79,140
Treasury Stock; 26,140 Shares (485) (485)
Cumulative Currency Translation Adjustments (798) (798)
Accumulated Deficit (72,603) (72,603)
------------- ------------
Total Shareholders' Equity (2,124) 5,376
------------- ------------
Total Liabilities and Shareholders' Equity $12,465 $12,465
============= ============
2
ITEM 8 CHANGE IN FISCAL YEAR
None
3
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, THEREUNTO DULY AUTHORIZED.
AUTO-TROL TECHNOLOGY CORPORATION
(Registrant)
Date: March 22, 1996
/s/ HOWARD B. HILLMAN
------------------------------
Howard B. Hillman,
President
Date: March 22, 1996
/s/ David C. O'Brien
-------------------------------
David C. O'Brien
Vice President, Finance
4