TASR 10Q. Anybody care to guess what this Paulsen Unit deal gem does for a living? This is just too funny...
(X)
QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2001
or
( )
TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission File Number 001-16391
TASER INTERNATIONAL, INC.
(Exact name of small business issuer as specified in its charter)
DELAWARE
(State or other jurisdiction
of incorporation or organization)
86-0741227
(I.R.S. Employer
Identification Number)
7860 E. MCCLAIN DRIVE, SUITE 2, SCOTTSDALE, ARIZONA
(Address of principal executive offices)
85260
(Zip Code)
(480) 991-0797
(Issuer’s telephone number)
There were 2,710,754 shares of the issuer’s common stock, par value $0.00001 per share, outstanding as of June 30, 2001.
Transitional Small Business Disclosure Format (Check One): Yes No
TABLE OF CONTENTS
PART I —FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
BALANCE SHEETS
STATEMENTS OF OPERATIONS
STATEMENTS OF CASH FLOWS
NOTES TO UNAUDITED FINANCIAL STATEMENTS
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS.
PART II—OTHER INFORMATION
ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
SIGNATURES
Table of Contents
TASER INTERNATIONAL, INC.
QUARTERLY REPORT ON FORM 10-QSB
FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2001
TABLE OF CONTENTS
Page
PART I —FINANCIAL INFORMATION
ITEM 1. Financial Statements
Unaudited balance sheets as of June 30, 2001 and June 30, 2000
1
Unaudited statements of operations for the six months ended June 30, 2001 and 2000
2
Unaudited statements of cash flows for the six months ended June 30, 2001 and 2000
3
Notes to unaudited financial statements
4
ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
6
PART II —OTHER INFORMATION
ITEM 2. Changes in Securities
8
ITEM 6. Exhibits and Reports on Form 8-K
8
SIGNATURES
9
Table of Contents
PART I —FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
The accompanying unaudited financial statements of TASER International, Inc. (the “Company”) include all adjustments (consisting only of normal
recurring accruals) which management considers necessary for the fair presentation of operating results, financial position and cash flows as of June 30,
2001 and for the three month and six month periods ended June 30, 2001 and June 30, 2000.
TASER INTERNATIONAL, INC.
BALANCE SHEETS
June 30, 2001 and 2000
(UNAUDITED)
June 30, 2001
June 30, 2000
Assets
Current Assets:
Cash and cash equivalents
$
5,232,771
$
12,555
Accounts receivable, net of allowance
578,816
298,771
Inventory
792,908
279,353
Prepaids and other
58,680
0
Total Current Assets
6,663,175
590,679
Property and Equipment, net
500,684
259,152
Other assets
80,916
—
Total Assets
$
7,244,775
$
849,831
Liabilities and Stockholders’ Equity (Deficit)
Current Liabilities:
Current portion of notes payable
$
—
$
110,000
Current portion of notes payable to related parties
3,701
161,312
Current portion of capital lease obligations
60,257
22,712
Accounts payable and accrued liabilities
751,973
716,277
Customer deposits
111,987
51,631
Inventory financing payable
—
189,980
Accrued interest, primarily to related parties
—
195,580
Total Current Liabilities
927,918
1,447,492
Notes Payable to Related Parties, net of current portion
1,278,219
1,778,219
Total Liabilities
2,273,151
3,240,298 |
