UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB
(Mark One)
/X/ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2002.
OR
/ / TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 FOR THE TRANSITION FROM _______ TO ________.
COMMISSION FILE NUMBER 000-27421
EMERGENCY FILTRATION PRODUCTS, INC.
------------------------------------
(Exact name of registrant as specified in its charter)
NEVADA 87-0561647
--------------------------------- --------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
175 Cassia Way, Suite A115
Henderson, Nevada 89014
- ----------------------------------------- ------------
(Address of principal executive offices) (Zip code)
Issuer's telephone number: (702) 558-5164
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes /X/ No / /
State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date:
At June 30, 2002, there were outstanding 11,988,425 shares of the
Registrant's Common Stock, $.001 par value.
Transitional Small Business Disclosure Format: Yes / / No /X/
TABLE OF CONTENTS
-----------------
PART 1 FINANCIAL INFORMATION
Item I. Financial Statements
Balance Sheets
Statements of Operations
Statements of Cash Flows
Notes to the Financial Statements
Item II. Management's Discussion and Analysis of Financial Condition and
Results of Operations
PART II OTHER INFORMATION
Item 1 -- Legal Proceedings
Item 2 -- Changes in the Rights of the Company's Security Holders
Item 3 -- Defaults by the Company on its Senior Securities
Item 4 -- Submission of Matter to Vote of Security Holders
Item 5 -- Other Information
Item 6 -- Exhibits and Reports on Form 8-K
SIGNATURE
PART I
FINANCIAL INFORMATION
Item I. Financial Statements
EMERGENCY FILTRATION PRODUCTS, INC.
FINANCIAL STATEMENTS
June 30, 2002 and December 31, 2001
EMERGENCY FILTRATION PRODUCTS, INC.
Balance Sheets
June 30, 2002 and December 31, 2001
(Unaudited)
- ------------------------------------------------------------------------------------------------------------------------------------
June 30, December 31,
2002 2001
--------------------------- ----------------------------
ASSETS
Current assets:
Cash $ 7,291 $ -
Accounts receivable, net 15,812 8,882
Prepaid expenses 8,895 68,776
Inventory 69,361 79,962
--------------------------- ----------------------------
Total current assets 101,359 157,620
--------------------------- ----------------------------
Property and equipment:
Molds 112,850 112,850
Furniture and office equipment 45,293 43,003
Accumulated depreciation (104,282) (89,945)
--------------------------- ----------------------------
Total property and equipment 53,861 65,908
--------------------------- ----------------------------
Other assets
Deposits 3,462 4,141
Patents, net 140,870 145,533
--------------------------- ----------------------------
Total other assets 144,332 149,674
--------------------------- ----------------------------
Total assets $ 299,552 $ 373,202
--------------------------- ----------------------------
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
Accounts payable $ 105,311 $ 167,793
Accounts payable - related parties 769,285 550,303
Accrued expenses 30,615 30,624
Note payable 5,760 20,412
--------------------------- ----------------------------
Total current liabilities 910,971 769,132
--------------------------- ----------------------------
Commitments and contingencies
Stockholders' deficit
Common stock, par value $0.001; authorized 11,988 11,667
50,000,000 shares; 11,988,425 and 11,667,425 shares
issued and outstanding, respectively
Additional paid in capital 6,056,141 5,928,062
Accumulated deficit (6,679,548) (6,335,659)
--------------------------- ----------------------------
Total stockholders' deficit (611,419) (395,930)
--------------------------- ----------------------------
Total liabilities and stockholders' deficit $ 299,552 $ 373,202
--------------------------- ----------------------------
The accompanying notes are an integral part of these financial statements.
EMERGENCY FILTRATION PRODUCTS, INC.
Statements of Operations
For the Three Months and Six Months Ended June 30, 2002 and 2001
(Unaudited)
- ------------------------------------------------------------------------------------------------------------------------------------
For the Three Months Ended For the Six Months Ended
June 30, June 30,
----------------- ------------------ ------------------ ------------------
2002 2001 2002 2001
----------------- ------------------ ------------------ ------------------
Net sales $ 26,221 $ 260,122 $ 121,965 $ 421,852
Expenses
Cost of sales 18,160 138,122 77,426 248,741
Depreciation and amortization 10,065 7,767 19,939 15,919
Research and development - 9,040 700 12,347
General and administrative 153,779 194,639 365,637 395,082
----------------- ------------------ ------------------ ------------------
Total expenses 182,004 349,568 463,702 672,089
----------------- ------------------ ------------------ ------------------
Loss from operations (155,783) (89,446) (341,737) (250,237)
----------------- ------------------ ------------------ ------------------
Other income (expense)
Interest expense (1,727) (4,064) (2,152) (8,250)
----------------- ------------------ ------------------ ------------------
Total other income (expense) (1,727) (4,064) (2,152) (8,250)
----------------- ------------------ ------------------ ------------------
Net loss $ (157,510) $ (93,510) $ (343,889) $ (258,487)
----------------- ------------------ ------------------ ------------------
Basic loss per share $ (0.01) $ (0.01) $ (0.03) $ (0.02)
----------------- ------------------ ------------------ ------------------
Weighted average number of shares outstanding 11,988,425 10,947,460 11,848,320 10,547,859
----------------- ------------------ ------------------ ------------------
The accompanying notes are an integral part of these financial statements.
Emergency Filtration Products, Inc.
Statements of Cash Flows
For the Six Months Ended June 30, 2002 and 2001
(Unaudited)
- -----------------------------------------------------------------------------------------------------------------------------------
For the Six Months Ended
June 30,
-----------------------------------------------------
2002 2001
----------------------- ------------------------
Cash flows from operating activities:
Net loss $ (343,889) $ (258,487)
Adjustments to reconcile net loss to net
cash used by operating activities:
Depreciation and amortization 19,939 15,919
Common stock issued for services 55,500 44,249
Changes in operating assets and liabilities:
Accounts receivable (6,930) (119,835)
Prepaid expenses 59,881 393
Inventory 10,601 4,386
Other assets 679 (20,000)
Accounts payable and accounts payable - related parties 42,500 126,913
Accrued expenses (9) 12,818
----------------------- ------------------------
Net cash used by operating activities (161,728) (193,644)
----------------------- ------------------------
Cash flows from investing activities:
Acquisition of property and equipment (2,290) (12,214)
Patent costs (940) (1,762)
----------------------- ------------------------
Net cash used by investing activities (3,230) (13,976)
----------------------- ------------------------
Cash flows from financing activities:
Proceeds from issuance of stock - 214,022
Advances from shareholders 186,900 -
Payment on notes and leases payable (14,651) (13,376)
----------------------- ------------------------
Net cash provided by financing activities 172,249 200,646
----------------------- ------------------------
Net increase (decrease) in cash and cash equivalents 7,291 (6,974)
Cash at beginning of period - 6,985
Cash at end of period $ 7,291 $ 11
----------------------- ------------------------
Supplemental cash flow information:
Cash paid for:
Interest $ 2,152 $ 2,439
----------------------- ------------------------
Non-cash financing activities:
Common stock issued for services and in lieu of debt $ 128,400 $ 93,222
----------------------- ------------------------
The accompanying notes are an integral part of these financial statements.
EMERGENCY FILTRATION PRODUCTS, INC.
Notes to the Financial Statements
June 30, 2002 and December 31, 2001
NOTE 1 - BASIS OF PRESENTATION
The financial information included herein is unaudited and has
been prepared consistent with generally accepted accounting
principles for interim financial information and with the
instructions to Form 10-QSB and Item 310(b) of Regulation S-B.
Accordingly, these financial statements do not include all
information and footnotes required by generally accepted
accounting principles for complete financial statements. These
statements should be read in conjunction with the audited
financial statements and notes thereto included in the Company's
annual report on Form 10-KSB for the year ended December 31, 2001.
In the opinion of management, these financial statements contain
all adjustments (consisting solely of normal recurring
adjustments) which are, in the opinion of management, necessary
for a fair statement of results for the interim period presented.
The results of operations for the three months and six months
ended June 30, 2002 and 2001 are not necessarily indicative of the
results to be expected for the full year.
NOTE 2 - RECENT ACCOUNTING PRONOUNCEMENTS
In July 2001, the Financial Accounting Standards Board issued
Statement No. 141 ("SFAS 141"), entitled "Business Combinations"
and Statement No. 142 ("SFAS 142"), "Goodwill and Other Intangible
Assets." SFAS 141 is effective as follows: (a) use of the
pooling-of-interests method is prohibited for business
combinations initiated after June 30, 2001; and (b) the provisions
of SFAS 141 also apply to all business combinations accounted for
by the purchase method that are completed after June 30, 2001.
There are also transition provisions that apply to business
combinations completed before July 1, 2001 that were accounted for
by the purchase method. SFAS 142 is effective for fiscal years
beginning after December 15, 2001 and provides new guidance
regarding the recognition and measurement of intangible assets,
eliminates the amortization of certain intangibles and requires
annual assessments for impairment of intangible assets that are
not subject to amortization. An initial impairment analysis is
required as of the date of adoption and any resulting impairment
loss is recognized as the effect of a change in accounting
principle. Early adoption is SFAS 142 was not allowed.
In August 2001, the Financial Accounting Standards Board issued
Statement No. 143 ("SFAS 143"), "Accounting for Obligations
Associated with the Retirement of Long-Lived Assets." The
objectives of SFAS 143 are to establish accounting standards for
the recognition and measurement of an asset retirement obligation
and its associated asset retirement cost. SFAS 143 is effective
for fiscal years beginning after June 15, 2002. In October 2001,
the Financial Accounting Standards Board issued Statement No. 144
("SFAS 144"), "Accounting for the Impairment or Disposal of
Long-Lived Assets." SFAS 144 addresses financial accounting and
reporting for the impairment or disposal of long-lived assets.
SFAS 144 is effective for fiscal years beginning after December
15, 2001 and, generally, is to be applied prospectively.
EMERGENCY FILTRATION PRODUCTS, INC.
Notes to the Financial Statements
June 30, 2002 and December 31, 2001
NOTE 2 - RECENT ACCOUNTING PRONOUNCEMENTS (Continued)
In April 2002, the Financial Accounting Standards Board issued
Statement No. 145 ("SFAS 145"), "Rescission of FASB Statements
Nos. 4, 44, and 64 and Amendment of FASB Statement No. 13." SFAS
145 addresses the presentation for losses on early retirements of
debt in the statement of operations. Adoption of SFAS 145 will
have no impact on the Company's financial condition or cash flows.
In June 2002, the Financial Accounting Standards Board issued
Statement No. 146 ("SFAS 146"), "Accounting for Cost Associated
with Exit or Disposal Activities for Certain Employee Termination
Benefits." The provisions of SFAS 146 became effective for exit or
disposal activities commenced subsequent to December 31, 2002.
The adoption of SFAS 141, SFAS 142, SFAS 144, and SFAS 145 had no
impact on the Company's financial position, results of operations
or cash flows. We do not expect the impact of SFAS 143 and SFAS
146 to be material to our financial position, results of
operations or cash flows.
NOTE 3 - LOSS PER SHARE
Following is a reconciliation of the numerators of the basic and
diluted loss per share for the three months and six months ended
June 30, 2002 and 2001:
For the
Three Months Ended
June 30,
--------------------------------------
2002 2001
------------------ ------------------
Net loss available to
common shareholders $ (157,510) $ (93,510)
================= ==================
Weighted average shares 11,988,425 10,947,460
Effect of dilutive securities - -
------------------ ------------------
11,988,425 10,947,460
================== ==================
Basic loss per share (based
on weighted average
shares) $ (0.01) $ (0.01)
================== ==================
EMERGENCY FILTRATION PRODUCTS, INC.
Notes to the Financial Statements
June 30, 2002 and December 31, 2001
NOTE 3 - LOSS PER SHARE (Continued)
For the
Six Months Ended
June 30,
--------------------------------------
2002 2001
------------------ ------------------
Net loss available to
common shareholders $ (343,889) $ (258,487)
================== ==================
Weighted average shares 11,848,320 10,547,859
Effect of dilutive securities - -
------------------ ------------------
11,848,320 10,547,859
================== ==================
Basic loss per share (based
on weighted average
shares) $ (0.03) $ (0.02)
================== ==================
Weighted average shares issuable upon the exercise of stock
options, which were not included in the above calculations, were
approximately 6.1 million and 7.8 million in the three month and
six month periods ended June 30, 2002 and 2001, respectively,
because they were antidilutive.
NOTE 4 - GOING CONCERN
The Company's financial statements are prepared using generally
accepted accounting principles applicable to a going concern,
which contemplates the realization of assets and liquidation of
liabilities in the normal course of business. The Company has
incurred significant losses, which have resulted in an accumulated
deficit of $6,679,548 at June 30, 2002, which raises substantial
doubt about the Company's ability to continue as a going concern.
The accompanying financial statements do not include any
adjustments relating to the recoverability and classification of
asset carrying amounts or the amount and classification of
liabilities that might result from the outcome of this
uncertainty. It is the intent of management to create additional
revenues through the development and sales of its emergency
respiration equipment and to rely upon additional equity financing
if required to sustain operations until revenues are adequate to
cover the costs. Management can offer no assurance with respect to
its ability to create additional revenues or obtain additional
equity financing.
NOTE 5 - STOCK TRANSACTIONS
During the six months ended June 30, 2002, the Company issued
321,000 shares of common stock at $0.40 per share for legal and
other services rendered valued at $55,500 and in payment of
related parties accounts payable totaling $72,900. The related
parties accounts payable consisted primarily of accrued consulting
fees.
EMERGENCY FILTRATION PRODUCTS, INC.
Notes to the Financial Statements
June 30, 2002 and December 31, 2001
NOTE 6 - INVENTORY
Inventory consists of raw materials and finished goods. Raw
materials consist primarily of purchased component parts used in
the assembly of the Company's products.
NOTE 7 - COMMITMENTS AND CONTINGENCIES
The Company is subject to certain claims and lawsuits arising in
the normal course of business. In the opinion of management,
uninsured losses, if any, resulting from the ultimate resolution
of these matters will not have a material effect on the Company's
financial position, results of operations, or cash flows.
Item II. Management's Discussion and Analysis of Financial
Condition and Results of Operations
Financial Condition
Since the Company's inception, the Company has been involved
in the development of its technology. During this time revenues have not been
adequate to cover operating expenses. Without adequate revenues to offset
expenditures, the Company has reported a loss in each of its years of existence.
To date, the Company has funded itself by way of a series of private equity
placements. As of the quarter ended June 30, 2002, the Company had offset its
accumulated deficit in this manner. The most valuable asset of the Company is
its intellectual property and technology. The Company has acquired the rights to
certain intellectual property, which property includes title to the patent on a
component of an emergency CPR assistance device, called a dual-filtered rotary
isolation valve. Rights pertaining thereto include the right to maintain, sell
and improve the device, and to license those rights. Although the Company
believes its technology to be very valuable in the real sense, this value is not
quantified as such on the Company's Balance Sheet.
The Company's financial statements are prepared using
generally accepted accounting principles applicable to a going concern, which
contemplates the realization of assets and liquidation of liabilities in the
normal course of business. The Company has incurred significant losses, which
have resulted in an accumulated deficit of $6,679,548 at June 30, 2002, which
raises substantial doubt about the Company's ability to continue as a going
concern. The accompanying financial statements do not include any adjustments
relating to the recoverability and classification of asset carrying amounts or
the amount and classification of liabilities that might result from the outcome
of this uncertainty. It is the intent of management to create additional
revenues through the development and sales of its emergency respiration
equipment and to rely upon additional equity financing if required to sustain
operations until revenues are adequate to cover the costs. Management can offer
no assurance with respect to its ability to create additional revenues or obtain
additional equity financing.
Operational Results
During the three months and six months ended June 30, 2002,
the Company reported revenues of $26,221 and $121,965, respectively, compared to
$260,122 and $421,852, respectively, for the three months and six months ended
June 30, 2001. Revenues have been in part from the sale of the emergency CPR
assistance device and the Company is now focusing on securing licensing
agreements and on a marketing-driven sales effort in order to increase revenues
that will ultimately cover total expenditures. Additionally, the Company
fulfilled orders for Superstat, a modified collagen hemostat, for which the
Company has exclusive distribution rights to the U.S. government and military.
The Company recently secured exclusive distribution rights to foreign
governments and militaries.
During the three months and six months ended June 30, 2002,
the Company reported cost of sales of $18,160 and $77,426, respectively,
compared to $138,122 and $248,741, respectively, for the three months and six
months ended June 30, 2001. Costs as a percentage of sales were 69% and 63% for
the three months ended June 30, 2002 and 2001, respectively, and 53% and 59% for
the six months ended June 30, 2002 and 2001, respectively. These increases and
decreases were due to fluctuating profit margins as a result of minor cost of
materials differences.
General and administrative expenditures in the second quarter
of 2002 as compared to the second quarter of 2001, decreased to $153,779 from
$194,639, representing a decrease of approximately 21%. General and
administrative expenditures for the six months ended June 30, 2002 as compared
to the six months ended June 30, 2001 also decreased to $365,637 from $395,082,
representing a decrease of approximately 7.5%. These decreases are the result of
a reduction in expenditures for consulting services.
Research and development costs decreased from $9,040 to $0
during the quarters ended June 30, 2001 and 2002, respectively, and from $12,347
to $700 during the six month periods ended June 30, 2001 and 2002, respectively,
due to the Company's focus on marketing efforts related to the current products.
Capital Funding
The Company currently is unable to generate sufficient cash
from operations to sustain its business efforts as well as to accommodate its
growth plans. Until it is able to generate sufficient cash flow, the Company
will seek capital funding from outside resources. The Company presently has not
concluded what form, whether debt or equity, such funding will be derived
through.
During the six months ended June 30, 2002, the Company issued
321,000 shares of common stock, valued at $0.40 per share, for legal and other
services rendered totaling $55,500 and in payment of related parties accounts
payable totaling $72,900. The related parties accounts payable consisted
primarily of accrued consulting fees.
The Company's cost-efficient business model emphasizes: (1)
in-house research and development; (2) accumulation of intellectual property
assets; (3) ownership of key production equipment; and (4) outsourcing of all
manufacturing, distribution, warehousing, and order fulfillment. Accordingly,
the Company benefits from low overhead, as well as the pricing advantages
inherent in proprietary specialty products.
The Company's management is now completing transformation from
a technology-driven research and development business to a marketing-driven
proprietary products company. Product development efforts remain an important
priority, but are now balanced by an increasing focus on elements of production
and sales.
The Company's current product line includes:
-- RespAide(TM) CPR Isolation Mask. The company has received Food and
Drug Administration ("FDA") approval for its RespAide(TM) CPR
isolation mask incorporating the VIV filter, and recently commenced
volume manufacturing and distribution of complete units and
replacement filters (the RespAide(TM) filter needs to be replaced
after each use). In tests by Nelson Laboratories, RespAide(TM) was
found to be greater than 99.9% effective against bacterial and viral
transmission - the highest rating testing labs will issue for medical
devices, and believed by management of the Company to be superior to
any competing product on the market.
-- Disposable Filters for BVMs. The same filter used in the RespAide(TM)
product is ideal for preventing contamination of "bag valve masks"
which are single-use ventilators. The disposable filter keeps the
equipment contaminant-free, thereby allowing a BVM to be safely reused
with a new filter - a considerable economic benefit due to the lower
replacement and disposal costs of the filter versus discarding the
entire BVM unit. The Company has received FDA approval.
-- Breathing Circuit Filters. To extend its market reach from emergency
response sites to the vast number of respiratory procedures conducted
within medical facilities, the Company has introduced a new
configuration of its VIV technology, a two-way breathing circuit
filter for applications where ambient air flow must pass evenly in
both directions while still protecting equipment and hoses. This is
suitable for use in anesthesia and general respiratory procedures. The
Company has received FDA approval.
In addition, the Company has designed another configuration of
the technology for the BVM market that incorporates a self-contained nebulizer,
a filter, and a bag with built-in CO(2) monitoring capabilities. A patent has
been granted for this product and the Company has executed an agreement whereby
it acquired the rights for commercial exploitation of the patent. The Company is
currently conducting prototype development and expects to launch the product
during 2002.
The market for air purification filters for protection against
communicable diseases has grown rapidly since the mid-1980's - from practically
nil, to an estimated $1,460,000,000 in 1997. Demand has been driven largely by
such factors as the spread of AIDS and Hepatitis C, the resurgence of
Tuberculosis in many urban settings, and growing concerns in the medical
community about new drug-resistant strains of bacteria. Such concerns are
clearly evident in the results of recent independent surveys indicating that
approximately 45% of doctors, 57% of EMTs, 80% of nurses, and substantially all
paramedics surveyed would refuse to perform mouth-to-mouth resuscitation on an
adult stranger without barrier protection. Indeed, many of the respondents
indicated that they had already walked away from situations in the community
requiring mouth-to-mouth resuscitation.
In addition to emergency ambulance services, police
departments, firefighters, hospitals, doctors, the military, and major CPR
training organizations such as the American Heart Association, management
believes that the market also includes government and private sector entities
that will choose, or may be required by law to keep CPR isolation masks on hand.
The Company currently holds military national stocking numbers
for the RespAide(TM) CPR isolation mask and replacement filters and for
Superstat. These stocking numbers make the products acceptable for inventory in
all four branches of the military and the U.S. Coast Guard. The Company received
and fulfilled orders from the U.S. Navy and the Defense Supply Center
Philadelphia for the products during 2001 and the first six months of 2002.
To reach the market, the Company has entered into contractual
arrangements with a number of U.S. and international medical product
distributors. Additionally, the Company is actively pursuing licensing
agreements with other companies that have market penetration.
The Company intends to firmly establish its reputation for
supplying the best medical air filters available, and then begin aggressively
commercializing the technology in the enormous HVAC category. The Company
estimates that the addition of HVAC applications will increase the total
addressable market for dual-filtered vapor isolation valve technology.
Competition
The medical device industry is a highly competitive sector of
the health care industry and there are a large number of established and
well-financed entities with significantly greater financial resources, technical
expertise and in depth managerial capabilities than the Company. Although the
Company has achieved patent protection for the RespAide(TM), there is no
assurance that other entities may not compete in or enter the medical and
commercial market in competition with the Company.
This discussion may contain certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
Actual results could differ materially from those forward-looking statements.
The factors that may cause actual results to differ materially is that the
Company has no arrangement, agreement or understanding with respect to engaging
in a merger with, joint venture with or acquisition of, a private or public
company and that there can be no assurance that the Company will be successful
in identifying and evaluating suitable business opportunities or including a
business combination.
PART II
OTHER INFORMATION
Item 1 - Legal Proceedings
There are no legal proceedings threatened or pending, except
such ordinary routine matters which may be incidental to the business currently
being conducted by the Company.
Item 2 - Changes in the Rights of the Company's
Security Holders. . . . . . . . . . . . . . .None
Item 3 - Defaults by the Company on its
Senior Securities. . . . . . . . . . . . . . None
Item 4 - Submission of Matter to Vote of Security
Holders. . . . . . . . . . . . . . . . . . . None
Item 5 - Other Information
The board held two meetings during the current quarter,
including both regularly scheduled and special meetings and actions by unanimous
written consent. At a meeting, Thomas Glenndahl was appointed to the Board of
Directors.
The board of directors has not established any audit
committee. In addition, the Company does not have any other compensation or
executive or similar committees. The Board of Directors acts as the audit
committee. The Company recognizes that an audit committee, when formally
established, will play a critical role in the financial reporting system of the
Company by overseeing and monitoring management's and the independent auditors'
participation in the financial reporting process.
Until such time as an audit committee has been established,
the full board of directors undertakes those tasks normally associated with an
audit committee to include, but not by way of limitation, the (i) review and
discussion of the audited financial statements with management, (ii) discussions
with the independent auditors the matters required to be discussed by the
Statement On Auditing Standards No. 61, as may be modified or supplemented, and
(iii) received from the auditors disclosures regarding the auditors'
Independents Standards Board Standard No. 1, as may be modified or supplemented.
Item 6 - Exhibits and Reports on Form 8-K
a. Exhibits
(1) Exhibit 1. Certification pursuant to 18 U.S.C. Section 1350,
as adopted pursuant to Section 906 of the Sarbanes-Oxley Act
of 2002
b. The following reports on Form 8-K are incorporated herein by
reference:
(1) 8-K filed 05/17/02.
The following documents are filed as part of this report:
1) Unaudited Financial Statements filed as part of this report
with the related balance sheets, statements of operations,
and cash flows for the three and six months then ended.
SIGNATURE
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.
Dated: August 13, 2002 Emergency Filtration Products, Inc.
-----------------------------------
(Registrant)
By: /s/Douglas K. Beplate
-------------------------
Douglas K. Beplate
President
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Quarterly Reports of Emergency Filtration Products, Inc.
(the Company) on Form 10-Q for the period ending June 30, 2002 as filed with the
Securities and Exchange Commission on the date hereof (the Report), I, Douglas
K. Beplate, President of the Company, certify, pursuant to 18 U.S.C. Section
1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002,
that:
(1) The Report fully complies with the requirements of section 13(a)
or 15(d) of the Securities Exchange Act of 1934; and
(2) The information contained in the Report fairly presents, in all
material respects, the financial condition and results of operations of
the Enterprise.
/s/ Douglas K. Beplate
- ----------------------------
Douglas K. Beplate
President
Emergency Filtration Products, Inc.
August 13, 2002