8-K: Current report filing
Published on November 26, 1997
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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F O R M 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 reported) October 31, 1997
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Cytoclonal Pharmaceutics Inc.
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(Exact name of Registrant as Specified in Charter)
Delaware 0-26918 75-2402409
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(State or Other Jurisdiction (Commission) (IRS Employer
of Incorporation) File Number) Identification No.)
9000 Harry Hines Boulevard, Suite 330, Dallas, Texas 75235
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (214) 353-2922
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N/A
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(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS.
During October 1997, Cytoclonal Pharmaceutics Inc. (the "Company") raised
approximately $1,196,000 from the exercise of stock options and warrants. The
following Statement of Operations (unaudited) and Statements of Changes in
Stockholders' Equity (unaudited) of Cytoclonal Pharmaceutics Inc. for the
month ended October 31, 1997 reflect the operations of the Company including
proceeds from the stock option and warrant exercises.
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CYTOCLONAL PHARMACEUTICS INC.
(a development stage company)
STATEMENT OF OPERATIONS
(unaudited)
One Month Ended
October 31, 1997
Operating expenses
Research and development 112,000
General and administrative 154,000
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266,000
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Other (income) expenses
Interest (income) (5,000)
Interest expense 0
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(5,000)
NET (LOSS) ($261,000)
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CYTOCLONAL PHARMACEUTICS INC.
(a development stage company)
STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
(unaudited)
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CYTOCLONAL PHARMACEUTICS INC
NOTES TO FINANCIAL STATEMENTS
October 31, 1997
(unaudited)
(1) FINANCIAL STATEMENT PRESENTATION
The unaudited financial statements of Cytoclonal Pharmaceutics Inc., a
Delaware Corporation (the 'Company'), included herein have been prepared in
accordance with the rules and regulations promulgated by the Securities and
Exchange Commission and, in the opinion of management, reflect all
adjustments (consisting only of normal recurring accruals) necessary to
present fairly the results of operations for the interim periods presented.
Certain information and footnote disclosures normally included in financial
statements, prepared in accordance with generally accepted accounting
principles, have been condensed or omitted pursuant to such rules and
regulations. However, management believes that the disclosures are
adequate to make the information presented not misleading. These financial
statements and the notes thereto should be read in conjunction with the
financial statements and the notes thereto included in the Company's
quarterly report on Form 10-QSB for the quarter ended September 30, 1997
and the Company's Annual Report on Form 10-KSB for the fiscal year ended
December 31, 1996. The results for the interim periods are not necessarily
indicative of the results for the full fiscal year.
(2) SUBSEQUENT EVENT
The Company received additional proceeds of approximately $209,000 through
November 19, 1997 from the exercise of option and warrants.
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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.
Cytoclonal Pharmaceutics Inc.
Date: November 26, 1997 By: /s/ Daniel M. Shusterman
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Daniel M. Shusterman, J.D.
Vice President of Operation,
Treasurer and Chief Financial
Officer
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