SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB/A
Quarterly Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
For the Quarter Ended Commission File No. 0-23047
March 31, 2001
SIGA Technologies, Inc.
(Exact name of registrant as specified in its charter)
Delaware 13-3864870
(State or other jurisdiction of (IRS Employer Id. No.)
incorporation or organization)
420 Lexington Avenue, Suite 620
New York, NY 10170
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (212) 672-9100
Securities registered pursuant to Section 12(b) of the Act:
None
(Title of Class)
Securities registered pursuant to Section 12(g) of the Act:
Common Stock, $.0001 par value
(Title of Class)
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 |_|.
As of May 11, 2001 the registrant had outstanding 7,550,058 shares of Common
Stock.
Explanatory Note: The purpose of this amendment is to amend the Statement of
Cash Flows included in the Financial Statements of our Quarterly Report on Form
10-QSB for the quarterly period ended March 31, 2001.
This report continues to speak as of May 15, 2001, the date of our original Form
10-QSB for the quarterly period ended March 31, 2001. Any items not changed in
the Amendment shall be as set forth in our original Form 10-QSB dated May 15,
2001.
SIGA TECHNOLOGIES INC.
(A development stage company)
STATEMENT OF CASH FLOWS
For The Period
December 28,
1995 (Date of
Three months ended Inception) to
March 31, March 31, March 31,
2001 2000 2001
------------ ------------ ------------
(unaudited) (unaudited)
Cash flows from operating activities:
Net loss $ (368,191) $ (1,637,932) $(22,809,760)
Adjustments to reconcile net loss to net
cash used in operating activities:
Depreciation 86,021 90,282 1,036,908
Stock, options & warrant compensation (387,042) 357,072 1,921,958
Loss on impairment of investment 155,591
Loss on write-off of capital equipment -- -- 97,969
Amortization of debt discount 151,178 110,041 873,490
Purchase of rights to certain technology 1,457,458
Realized gain on marketable securities (66,660)
Non-cash research and development 500,344
Changes in assets and liabilities:
Accounts receivable 22,800 21,304 (15,000)
Prepaid expenses and other current assets 5,644 9,103 --
Other assets (1,879) -- (158,435)
Accounts payable and accrued expenses (82,200) (127,033) 432,990
Deferred Revenue 125,000 35,000 575,000
Accrued Interest 20,249 15,000 100,530
Deferred Compensation -- --
------------ ------------ ------------
Net cash used in operating activities (428,420) (1,127,163) (15,897,618)
------------ ------------ ------------
Cash flows from investing activities:
Capital expenditures -- (7,093) (2,157,254)
Sale (purchase) of investment securities -- -- 66,660
Investment in Open-I-Media -- (170,000)
------------ ------------ ------------
Net cash flow used in investing activities -- (7,093) (2,260,594)
------------ ------------ ------------
Cash flows from financing activities:
Net proceeds from issuance of common stock -- 3,000,000 17,363,056
Receipts of stock subscriptions outstanding -- -- 1,248
Gross proceeds from sale of convertible debentures -- 1,500,000 1,500,000
Proceeds from exercise of options 65,812 31,005 118,586
Net proceeds from sale of warrants -- 52,174 52,174
Convertible debentures and warrants issuance costs -- (52,500) (52,500)
Proceeds from bridge notes -- -- 1,000,000
Repayment of bridge notes -- -- (1,000,000)
Proceeds from sale & leaseback of equipment -- -- 1,139,085
Principal payments on capital lease obligations (75,671) (66,775) (694,331)
------------ ------------ ------------
Net cash provided from financing activities (9,859) 4,463,904 19,427,318
------------ ------------ ------------
Net increase (decrease) in cash and cash equivalents (438,279) 3,329,648 1,269,106
Cash and cash equivalents at beginning of period 1,707,385 1,758,541 --
------------ ------------ ------------
Cash and cash equivalents at end of period $ 1,269,106 $ 5,088,189 $ 1,269,106
============ ============ ============
During the quarter ended March 31, 2001, certain creditors of the Company
converted notes payable into equity in the amount of $15,918.
The accompanying notes are an integral part of these financial statements
SIGNATURE
In accordance with the requirements of the Securities Exchange Act of
1934, the registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
SIGA Technologies, Inc.
(Registrant)
Date: June 25, 2001 By: /s/ Thomas N. Konatich
----------------------------
Thomas N. Konatich
Chief Financial Officer
(Principal Accounting Officer and
Financial Officer and Vice
President, Finance)