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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
APRIL 30, 2001
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(Date of earliest event reported)
LEDGER CAPITAL CORP.
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(Exact name of registrant as specified in its charter)
Commission File No. 0-22224
WISCONSIN 39-1762467
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(State or other jurisdiction (I.R.S.Employer
of incorporation) Identification No.)
5555 N. PORT WASHINGTON ROAD
GLENDALE, WISCONSIN 53217
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(Address of principal executive offices) (Zip Code)
(414) 290-7900
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(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On April 30, 2001, Ledger Capital Corp. (the "Company") issued a press
release announcing that it would restate its previously reported results of
operations for the fiscal year ended June 30, 2000 and the first two quarters of
fiscal 2001, September 30, 2000 and December 31, 2000. The press release
indicated that the restatement of the applicable financial statements was the
result of a mathematical error in the way in which interest income was being
accrued on certain purchased commercial real estate mortgage and multi-family
residential loans. The error resulted from an inadvertent erroneous set-up of
the loans in the Company's outsourced data processing system. The effect of the
restatement for the fiscal year ended June 30, 2000 was an increase in interest
income of $543,000, an increase in non-interest expense of $146,000, for
additional compensation required to be accrued under the Company's Annual
Incentive Plan, and an increase in net income of $241,000 or $0.09 per share.
The effect of the restatement for the six months ended December 31, 2000 was an
increase in interest income of $314,000 and an increase in net income of
$190,000 or $0.07 per share. The effects of these restatements are reflected in
more detail on the "Restated Financial Data Schedule" attached as an exhibit to
the press release attached hereto as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) EXHIBITS.
99 Press Release, dated April 30, 2001, describing reasons for restating
results of operations for the fiscal year ended June 30, 2000 and the
six months ended December 31, 2000.
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.
LEDGER CAPITAL CORP.
Date: April 30, 2001 By:
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Arthur E. Thompson
Chief Financial Officer
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INDEX TO EXHIBITS
EXHIBIT
NUMBER DESCRIPTION
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99 Press Release, dated April 30, 2001, describing reasons for
restating results of operations for the fiscal year ended June
30, 2000 and the six months ended December 31, 2000.