SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-C REPORT BY ISSUER OF SECURITIES QUOTED ON NASDAQ INTERDEALER QUOTATION SYSTEM FILED PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULE 13a-17 OR 15d-17 THEREUNDER BOUTON CORPORATION - - -------------------------------------------------------------------------------- (Exact name of issuer as specified in charter) 2960 Post Road, Southport Connecticut 06490 --------------------------------------------------------------------- (Address of principal executive offices) Issuer's telephone number, including area code (203) 259-4967 ------------------------- I. CHANGE IN NUMBER OF SHARES OUTSTANDING Indicate any change (increase or decrease) of five percent of more in the number of shares outstanding: 1. Title of security Common Stock, $.001 par value per share -------------------------------------------- 2. Number of shares outstanding before the change 19,958,107 shares, $.001 ------------------------ par value per share - ------------------------ (as of 4/9/96) -------------- 3. Number of shares outstanding after the change 371 shares, $50.00 par ------------------------- value per share (approximate number) ---------------------------------------------------------------------- 4. Effective date of change May 9, 1996 ---------------------------------------------- 5. Method of change: Specify method (such as merger, acquisition, exchange, distribution, stock split, reverse split, acquisition of stock for treasury, etc.) Reverse split - - -------------------------------------------------------------------------------- Give brief description of transaction: Certificate of Amendment to the - - ------------------------------------- Company's Articles of Incorporation that reduced the number of authorized shares of Common Stock, $.001 par value per share from 50,000,000 to 1,000 shares and increased the par value of the Common Stock from $.001 per share to $50.00 per share, and effected a one for 50,000 reverse stock split of the presently issued and outstanding shares, with a cash payment in lieu of the issuance of fractional shares which resulted from the reverse stock split. II. CHANGE IN NAME OF ISSUER 1. Name prior to change N/A -------------------------------------------------- 2. Name after change N/A ----------------------------------------------------- 3. Effective date of charter amendment changing name N/A ---------------------- 4. Date of shareholder approval of change, if required N/A ------------------- BOUTON CORPORATION Date May 9, 1996 By:/s/ David F. Miller III ------------------------ ------------------------- David F. Miller President