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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event to report) August 19, 1996
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The Sled Dogs Company
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(Exact name of registrant as specified in charter)
Colorado 1-12850 84-116-8832
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
212 Third Avenue North, Suite 420, Minneapolis, MN 55401
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (612) 359-9020
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2324 University Avenue, Suite 115, St. Paul, MN 55114
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(Former name or former address, if changed since last report.)
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Item 5. Other Events.
On August 19, 1996, The Sled Dogs Company (the "Company") announced its year
end results, as follows:
The Sled Dogs Company (Nasdaq: SNOW) reported a net loss of
$1,369,635, or $.12 per share, on net sales of ($108,665) for the
fourth quarter ended June 30, 1996 compared to a net loss of
$788,099 or $.21 per share, on net sales of $50,541 for the fourth
quarter ended June 30, 1995.
For the twelve months ended June 30, 1996, the Company reported
net sales of $876,803, a 9% increase over net sales of $808,082
reported for the twelve months ended June 30, 1995. The Company
reported a net loss of $3,750,088 or $.41 per share for the twelve
months ended June 30, 1996 compared to a net loss of $2,900,386 or
$.77 per share for the twelve months ended June 30, 1995.
"Notwithstanding a large Canadian order, poor sell through fed by
lackluster Western snow conditions and sales representative
performance issues caused 1996 product line returns to exceed
sales for the quarter," said The Sled Dogs Company President and
Chief Executive Officer John Sundet.
"Fourth quarter highlights included the continued rollout of
fiscal 1997's breakthrough K9(TM) model, the development of major
retailer orders and international distributor relationships, a
Mountain Dew Extreme Network cross promotion, and planning and
preparation for fiscal 1997," he continued.
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The Sled Dogs Company
(NASDAQ: SNOW)
Three months ended June 30,
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1996 1995
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Net sales(2) $ (108,665) $ 50,541
Net loss (1,369,635) (788,099)
Net loss per common share $ (0.12) $ (0.21)
Weighted average number of
shares outstanding(1) 11,749,999 3,749,999
Twelve months ended June 30,
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1996 1995
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Net sales $ 876,803 $ 808,082
Net loss (3,750,088) (2,900,386)
Net loss per common share $ (0.41) $ (0.77)
Weighted average number of
shares outstanding(1) 9,061,474 3,749,999
(1) Actual shares of common stock issued and outstanding at June 30, 1996 were
11,749,999. The weighted average number of shares outstanding reflect the
issuance of 8,000,000 shares on November 1, 1995 in a private placement of
equity.
(2) A reduction in net sales occurred during the three months ended June 30,
1996 due to some customer returns being accepted under a Sled Dogs/Retailer
shared risk sales program.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
THE SLED DOGS COMPANY
Dated: August 19, 1996 By: /s/ John Sundet
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John Sundet
President
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