UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-QSB
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES
ACT OF 1934
For the quarterly period ended November 30, 2005
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Commission File Number 0-12305
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NEW YORK 13-3044880
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(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
24 CARPENTER ROAD, CHESTER, NY 10918
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (845) 469-2042
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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 during the
past 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 ( )
Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.
Class Outstanding at November 30, 2005
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Common stock, $.01 par value 28,116,286 shares
REPRO-MED SYSTEMS, INC.
TABLE OF CONTENTS
PART I PAGE
ITEM 1. Financial Statements
Balance Sheet (Unaudited) - November 30, 2005 and
February 28, 2005 (Audited) ....................................... 3
Statements of Operations (Unaudited) - for the three-months and
nine months ending November 30, 2005 and November 30, 2004 ........ 4
Statements of Cash Flow (Unaudited) - for the nine months
ending November 30, 2005 and 2004 ................................. 5
Notes to Unaudited Financial Statements ........................... 6
ITEM 2. Management's Discussion and Analysis of
Financial Condition and Results of Operations ..................... 7
PART II
ITEM 1. Legal Proceedings ................................................. 11
ITEM 2. Changes in Securities ............................................. 11
ITEM 3. Defaults Upon Senior Securities ................................... 11
ITEM 4. Submission of Matters to a Vote of Security Holders ............... 11
ITEM 5. Other Information ................................................. 11
ITEM 6. Exhibits and Reports on Form 8-K .................................. 12
2
REPRO-MED SYSTEMS, INC.
BALANCE SHEET
NOVEMBER 30, 2005 FEBRUARY 28, 2005
(UNAUDITED) (AUDITED)
----------------- -----------------
ASSETS
- ------
CURRENT ASSETS
- --------------
Cash & Cash Equivalents ........................... $ 63,361 $ 37,330
Accounts Receivable, net .......................... 142,931 125,078
Inventory ......................................... 337,463 371,569
Prepaid Expenses .................................. 25,290 36,531
----------- -----------
TOTAL CURRENT ASSETS .................................. 569,045 570,508
PROPERTY & EQUIPMENT, NET ............................. 285,693 337,708
OTHER ASSETS
- ------------
Deposits .......................................... 27,652 27,652
Other Assets ...................................... 46,035 44,408
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TOTAL OTHER ASSETS .................................... 73,687 72,060
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TOTAL ASSETS .......................................... $ 928,425 $ 980,276
=========== ===========
LIABILITIES & STOCKHOLDERS' EQUITY
- ----------------------------------
CURRENT LIABILITIES
- -------------------
Accounts Payable .................................. $ 276,518 $ 348,316
Notes Payable to Related Parties .................. 7,000 7,000
Accrued Expenses .................................. 32,979 60,588
Note Payable to Bank .............................. 198,553 198,553
Accrued Payroll and Related Taxes ................. 21,216 33,703
Accrued Interest .................................. 40,142 31,469
Accrued Preferred Stock Dividends ................. 28,000 24,000
Current Portion Capital Lease Obligations ......... 13,306 19,084
----------- -----------
TOTAL CURRENT LIABILITIES ......................... 617,714 722,713
----------- -----------
OTHER LIABILITIES
Long-Term Portion of Leases Payable ............... -- 10,381
Deferred Capital Gain Income ...................... 298,251 314,736
Long-Term Debt - Notes Payable .................... 525,000 450,000
----------- -----------
TOTAL LIABILITIES ..................................... 1,440,965 1,497,830
----------- -----------
STOCKHOLDERS' DEFICIENCY
- ------------------------
Preferred Stock, 8% Cumulative $.01
Par Value Authorized 2,000,000 Shares Issued &
Outstanding 10,000 Shares
(liquidation value $100,000) .................... 100 100
Common Stock, $.01 Par Value,
Authorized 50,000,000 Shares, 28,116,286
shares and 26,027,000 shares issued
and outstanding at November 30, 2005 and
February 28, 2005, Respectively ................. 280,926 260,270
Additional Paid-in Capital ........................ 2,410,645 2,302,551
Accumulated Deficit ............................... (3,062,211) (2,938,475)
Treasury Stock at Cost ............................ (142,000) (142,000)
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TOTAL STOCKHOLDERS' DEFICIENCY ........................ (512,540) (517,554)
----------- -----------
TOTAL LIABILITIES & STOCKHOLDER'DEFICIENCY ............ $ 928,425 $ 980,276
=========== ===========
See Accompanying Notes to Financial Statements
3
REPRO-MED SYSTEMS, INC.
STATEMENTS OF OPERATIONS
UNAUDITED
FOR THE 3 MONTHS ENDED FOR THE 9 MONTHS ENDED
NOV 30, 2005 NOV 30, 2004 NOV 30, 2005 NOV 30, 2004
------------ ------------ ------------ ------------
SALES
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Net Sales of Products ........... $ 528,194 $ 337,141 $ 1,329,832 $ 1,211,091
COST AND EXPENSES
- -----------------
Cost of Goods Sold ............ 183,171 160,409 541,913 554,068
Selling, General &
Administrative Expenses ..... 223,672 258,763 718,698 727,999
Research and Development ...... 10,118 10,943 31,470 32,615
Stock-Based Compensation ...... 1,250 -- 43,750 20,000
Depreciation and Amortization . 19,252 20,079 59,687 61,334
------------ ------------ ------------ ------------
TOTAL COST AND EXPENSES ......... 437,463 450,194 1,395,518 1,396,016
------------ ------------ ------------ ------------
INCOME (LOSS) FROM OPERATIONS ... 90,731 (113,053) (65,686) (184,925)
Non-Operating Income (Expense)
Interest (Expense) ............ (20,309) (15,047) (57,626) (41,057)
Interest & Other Income ....... -- 6,517 3,578 14,179
------------ ------------ ------------ ------------
(20,309) (8,530) (54,048) (26,878)
------------ ------------ ------------ ------------
INCOME (LOSS) BEFORE INCOME TAXES 70,422 (121,583) (119,734) (211,803)
Provision for Income Taxes .... 0 0 0 (1,000)
------------ ------------ ------------ ------------
NET INCOME (LOSS) AFTER TAXES ... $ 70,422 $ (121,583) $ (119,734) $ (212,803)
============ ============ ============ ============
NET (LOSS) PER COMMON SHARE
Primary ....................... $ 0.01 $ (0.01) $ (0.01) $ (0.01)
Fully Diluted ................. $ 0.01 $ (0.01) $ (0.01) $ (0.01)
Average Common Shares
Outstanding ..................... 27,353,191 24,931,000 26,744,064 24,876,600
============ ============ ============ ============
See Accompanying Notes to Financial Statements
4
REPRO-MED SYSTEMS, INC.
STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED
UNAUDITED
NOVEMBER 30, 2005 NOVEMBER 30, 2004
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CASH FLOWS FROM OPERATING ACTIVITIES
Net (Loss) ............................................. $(119,734) $(212,803)
Adjustments to reconcile net (loss) to cash
(used) in operating activities:
Stock-Based Compensation ............................. 43,750 20,000
Legal Expenses Charged to Additional
Paid-In Capital .................................... - (10,000)
Depreciation and Amortization ........................ 59,687 61,333
Capital Gain - Building Lease ........................ (16,485) (16,859)
Increase in Accounts Receivable ...................... (17,853) 16,835
Decrease in Inventory ................................ 34,106 (3,752)
Increase (Decrease) in Prepaid Expenses .............. 11,241 (17,937)
Decrease in Accounts Payable ......................... (71,798) (33,189)
Decrease in Accrued Expenses ......................... (31,323) (7,242)
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NET CASH USED IN OPERATIONS ............................ (108,409) (203,614)
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CASH FLOWS FROM INVESTING ACTIVITIES
Decrease in Security Deposit ......................... -- --
Capital Expenditures ................................. (9,401) (31,173)
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NET CASH USED IN INVESTING ACTIVITIES .................. (9,401) (31,173)
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CASH FLOW PROVIDED BY FINANCING ACTIVITIES
Issuance of Common Stock at $0.07per share ........... 85,000 --
Notes Payable - President and Others ................. 75,000 100,000
Payments, Increased Obligations on
Capitalized Leases ................................... (16,159) (15,238)
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NET CASH PROVIDED BY FINANCING ACTIVITIES .............. 143,841 84,762
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NET INCREASE IN CASH ................................... 26,031 (150,025)
Cash and Cash Equivalents, beginning of period ......... 37,330 219,682
--------- ---------
Cash and Cash Equivalents, end of period ............... $ 63,361 $ 69,657
========= =========
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest ............................................. $ 48,953 $ 41,057
Income Taxes ......................................... -- 1,000
Non-Cash Investing and Financing Activities:
Preferred Stock Dividend Payable ................... $ 4,000 $ 4,000
See Accompanying Notes to Financial Statements
5
REPRO-MED SYSTEMS, INC.
NOTES TO THE FINANCIAL STATEMENTS
UNAUDITED
BASIS OF PRESENTATION
The accompanying unaudited condensed financial statements have been prepared in
accordance with generally accepted accounting principles for interim financial
statements and with instructions to Form 10-QSB. Accordingly, they do not
include all of the information and disclosures required for annual financial
statements. These financial statements should be read in conjunction with the
financial statements and related footnotes for the year ended February 28, 2005
included in the Form 10-KSB for the year then ended.
In the opinion of the Company's management, all adjustments (consisting of
normal recurring accruals) necessary to present fairly the Company's financial
position as of November 30, 2005, and the results of operations and cash flows
for the three month and nine month periods ended November 30, 2005 and 2004 have
been included.
The results of operations for the nine-month period ended November 30, 2005, are
not necessarily indicative of the results to be expected for the full year. For
further information, refer to the financial statements and footnotes thereto
included in the Company's Form 10-KSB as filed with the Securities and Exchange
Commission for the year ended February 28, 2005.
In March, 2003, the Company negotiated with the landlord of its Chester, New
York, facility to utilize $27,500 of its security deposit (held by the landlord)
to pay March and April, 2003, rent. The agreement provides for replenishment
within 90 days. At the date of this filing, the security deposit had not been
repaid.
STOCKHOLDERS' EQUITY/NOTES PAYABLE
During the quarter ended May 31, 2005, the company executed note agreements for
$80,000. In connection with the execution of those agreements, the Company is
obligated to issue four shares of its common stock each year for each dollar of
principal borrowed. The Company is obligated to issue 425,000 shares of its
common stock under the agreements. As of November 30, 2005, 185,000 of these
shares have been issued and the remaining 245,000 shares have been reflected as
issued for financial statement purposes.
GOING CONCERNS
As shown in the accompanying final statements, the Company has incurred
cumulative losses of $3,062,211 and has negative working capital of $(48,669) at
November 31, 2005. The Company is seeking to raise additional working capital
through debt or equity channels and is working with outside distributors to
increase its market share in the European and U.S. markets. However, even if the
Company does raise capital through the debt or equity channels or increase its
sales through new strategies, there can be no assurances that the net proceeds
of the capital raised or the revenue generated from new marketing strategies
will be sufficient to enable it to develop business to a level when it will
generate profits and cash flow from operations.
These matters raise substantial doubt about the Company's ability to continue as
a going concern. However, the accompanying financial statements have been
prepared on a going concern basis, which contemplates the realization of assets
and satisfaction of liabilities in the normal course of business. These
financial statements do not include any adjustments relating to the recovery of
the recorded assets or the classification of the liabilities that might be
necessary should the Company be unable to continue as a going concern.
6
PART I ITEM 2.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS
This Quarterly Report on Form 10-QSB contains certain "forward-looking"
statements (as such term is defined in the Private Securities Litigation Reform
Act of 1995) and information relating to us that are based on the beliefs of the
management, as well as assumptions made by and information currently available.
Our actual results may vary materially from the forward-looking statements made
in this report due to important factors such as, recent operating losses,
uncertainties associated with future operating results, unpredictability related
to Food and Drug Administration regulations, introduction of competitive
products, limited liquidity, reimbursement related risks, government regulation
of the home health care industry, success of the research and development
effort, market acceptance of FREEDOM60, availability of sufficient capital to
continue operations and dependence on key personnel. When used in this report,
the words "estimate," "project," "believe," "anticipate," "intend," "expect" and
similar expressions are intended to identify forward-looking statements. Such
statements reflect current views with respect to future events based on
currently available information and are subject to risks and uncertainties that
could cause actual results to differ materially from those contemplated in such
forward-looking statements. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date hereof. These
statements involve risks and uncertainties with respect to the ability to raise
capital to develop and market new products, acceptance in the market place of
new and existing products, ability to penetrate new markets, our success in
enforcing and obtaining patents, obtaining required Government approvals and
attracting and maintaining key personnel that could cause the actual results to
differ materially. Repro-Med does not undertake any obligation to release
publicly any revision to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
THREE MONTHS ENDED NOVEMBER 30 2005 VS. 2004
- --------------------------------------------
Total sales increased by 56.7% ($191,053) from $337,141 to $528,194 for the
three month period ending November 30,2005.
Net Income from operations shows a profit of $90,731 for the three months ending
November 30,2005 as compared to a loss of $113,053 for the same quarter in 2004
and represents a total improvement of $203,784 between the two quarters. Net
income after taxes showed a profit of $70,422 as compared to a loss of $121,583
for the three months ended November 30, 2004.
RES-Q-VAC and Freedom60 represent the company's key products. Domestic sales of
the RES-Q-VAC product line increased 254% quarter over quarter ended November
30, 2005, primarily due to a large government order placed in response to the
hurricane Katrina aftermath which occurred during the period, and due to
unusually low sales during the prior year's quarter. Overall, RES-Q-VAC had a
net increase of 60% as our international sales had declined 27% quarter over
quarter which we attribute to the economies in Europe and competition entering
the markets there.
7
Freedom60 experienced a net increase of 35% quarter over quarter ended November
30, 2005 due to several major new accounts added during the year. OEM sales
increased this quarter by 295% due to new sales for a custom product in the
veterinary market. Sales of our Gyneco products remained essentially flat
quarter over quarter increasing by 2%.
Gross profit margin increased to 65.3% compared to 52.4% of net sales three
months year over year ending November 30, 2005, due to improved efficiencies in
production, reclassification of certain cost of goods, and lower labor levels
during the period.
Selling, general and administrative expense decreased 13.6% from $258,763 to
$223,672 over this period due primarily to reduced labor. Research and
development expenses remained nearly level, decreasing slightly by $825 from
$10,943 in 2004 to $10,118 for the three month period ending November 30, 2005.
Interest expense increased 35% ($5,262) due to an increase in loans obtained
through the company's promissory note program.
NINE MONTHS ENDED NOVEMBER 30, 2005 VS. 2004
- --------------------------------------------
Net sales increased 9.8% overall to $1,329,832 in 2005 from $1,211,091 in 2004
for the ninth month period ending November 30th, 2005. For the nine months ended
November 30, 2005 the increase in the domestic sales of RES-Q-VAC of 31% were
offset by the decrease of the international sales of 20%, resulting in an
overall Res-Q-Vac sales increase of 0.5%. Sales of the products in the Freedom60
line increased by 27% during the same period. Sales of the OEM products
increased 198% due to new sales of an OEM device for the veterinary market.
Sales in the Gyneco product line continue to decrease and declined by 10% for
the nine months ending November 30, 2005 as compared to the same period in 2004.
Gross profit increased to 59.2% of net sales in 2005 from 54.3% in 2004 due to
greater efficiencies in production and lower labor.
Selling, general and administrative expense decreased slightly from $727,999 to
$718,698 over the same period. Research and development expenses remained nearly
level, decreasing slightly by $1,145 from $32,615 in 2004 to $31,470 for the
nine month period ending November 30, 2005.
Depreciation and amortization expense decreased by $1,647 period over period as
the result of fewer equipment purchases during the past year.
Interest expense increased 40.4% ($16,569) as a result of an increase in loans
obtained through the company's promissory note program.
Other income decreased $10,601, period over period.
The net loss for the nine months ended November 30, 2005 decreased 43.7% to
$119,734 from $212,803.
8
LIQUIDITY AND CAPITAL RESOURCES
- -------------------------------
During June 2000, we negotiated a $200,000 line of credit with M&T Bank that is
guaranteed by the President and one of the directors. As of November 30, 2005,
$198,553 has been advanced on the line of credit. Although the line expired on
June 30, 2002, the bank verbally extended the line through June 30, 2003. We are
requesting the bank to extend the line for another six months. We have not
received a demand for repayment of the loan and continue to make interest
payments.
Commencing in mid-February, 2004, we started raising capital from a promissory
note and stock offering which raised $225,000 by the end of the fiscal year
ended February 29, 2004. This five-year promissory note pays 2% over prime plus
four shares of common stock per year for every year the loan is in place. We
received an additional $100,000 under the same program in the first quarter of
fiscal year 2005. Another $25,000 was raised in the first quarter of 2003 under
similar terms.
In September and October, 2005, we sold common stock to two independent
investors totaling $85,000.
We continue to work towards improving cash flow and have several opportunities
to improve sales of our key products, RES-Q-VAC and FREEDOM60. We have expanded
our sales efforts in several areas.
RES-Q-VAC
- ---------
We have added several features to the RES-Q-VAC which make the product much more
interesting not only in the current markets but in several new markets as well.
The first of these improvements is the addition of FULL STOP PROTECTION (FSP) to
the RES-Q-VAC, which protects the users from any contamination from overflow and
traps all pathogens inside the suction container. This feature is also a
requirement of the Occupational Safety and Health Administration under OSHA
29CFR 1910.1030 - Occupational Exposure to Bloodborne Pathogens. The RES-Q-VAC
is the only hand-held non-electric suction system with sterile catheters for
infants, large catheters for adults, and meets the intent of the OSHA
requirements with the FSP device. The Company has received a letter from OSHA
confirming that the Full Stop Protector falls under the engineering controls of
the Bloodborne Pathogen regulation and therefore would be required by any
employer of medical personnel to protect their employees from potentially
infectious materials. The Centers for Disease Control in Atlanta have issued
guidelines for medical personnel for the treatment of patients with SARS which
include the recommendation to employ suction devices containing HEPA type
filtration on the output to prevent the spread of this disease. We believe
RES-Q-VAC is the only hand-held portable suction system which meets this
requirement.
We have also added new sturdier connectors to our pediatric catheters, which
allow them to connect directly to the adult containers with FSP. These
connectors allow pediatric suctioning with the benefit of the full protection
FSP device as well as with sterile catheters. These improved features come at a
lower cost for the user, and a more compact kit for easier transport. Many
infants are born with contagious diseases and the new system eliminates this
concern among paramedics during an emergency delivery. The adult large bore
yankuer is also fitted with an improved connector, for easier changeability and
convenience.
9
We have begun upgrading our RES-Q-VAC distribution channels by selecting key
distributors to work with as master distribution outlets. The domestic emergency
medical market has softened due to a decrease in Federal reimbursement to state
and city regional areas. We have concluded that we can have more effective
market penetration with major master distributors who will have much greater
sales volume and be able to better support our products. In the domestic market,
there are currently two major distributors who have expressed interest in
working with us in this capacity, and we are moving aggressively towards
finalizing these arrangements.
We are also moving to consolidate international RES-Q-VAC distribution, as well,
by selecting one or two master distributors in each country. We already have
master distribution in Norway, Sweden, Denmark, Iceland, Finland, Estonia,
Latvia, and Lithuania. We have added single-point distribution in the United
Kingdom for RES-Q-VAC with ABC Healthcare, LTD who will also begin marketing the
Freedom60 in Europe. We believe that one main distributor will be more
predisposed to advertising, promotion, and building the product franchise in
each market. In return, we will be able work more closely with the distributors
and be able to hold them accountable for the sales in each region.
We have begun a major sales effort into the nursing home market for the
RES-Q-VAC. The features of Full Stop Protection to meet OSHA requirements,
sterile catheters, and the ability of RES-Q-VAC to work during extended power
outages, have created a receptive market, especially in regions which recently
have had major power outages, such as Florida with the recent hurricanes and the
blackout in the Northeast. Patients on ventilators, tracheotomy patients,
elderly with swallowing disorders, stroke, heart attack, choke victims--all may
need prompt effective suctioning wherever they are and for whom RES-Q-VAC may be
life saving. This includes locations such as dining rooms, recreations areas,
transportation and outdoor activities, among others.
In the third quarter we began advertising as well as an extensive mail and
telephone marketing program to introduce RES-Q-VAC to the nursing home market.
After a one-time mailing to seven states, we have received more than 100 direct
responses, with several being national and regional accounts involving
potentially hundreds of additional nursing homes, and resulting in a number of
new customers during the past several weeks. We plan to continue the mail and
telemarketing to the greatest extent possible with our resources.
Additional new markets we have recently sold into include schools, and
hospital-based respiratory centers. We plan mailings into those markets, as
well. In the school market, we have been informed that any school with a
swimming pool is normally required to have suction equipment available. In
addition, many schools are installing automatic electronic defibrillators
(AED's) for which suction is needed in more than 50% of uses for this device.
Our mailings to nursing homes also resulted in some interest by respiratory
centers, and we believe there may be additional sales opportunities in this
market.
FREEDOM60
- ---------
We recently signed an agreement with Innovatix, a full-service group purchasing
organization with 6,000 alternate care members who are primarily infusion
providers and we have begun a program to reach all their members. The decrease
in reimbursement continues to encourage home health care providers to seek out
effective lower cost infusion systems. There is significant interest for the
Freedom60 for use with Immune Globulin, a treatment for Primary Immune
deficiency. This is a potentially large new market for which our system is
ideally suited. Recently, ZLB Behring announced FDA approval of VIVAGLOBIN(r).
This is the first subcutaneous immunoglobulin replacement therapy approved in
the U.S. With the drug approval, increasing use of the Freedom60 is expected
with national and regional providers to this market.
10
TRADE SHOWS
- -----------
We continue to support our products at several trade shows. In November, we
exhibited with our UK Distributor for the Freedom60 at an infusion trade show in
Brighton and then we attended the Medica Trade Show in Dusseldorf, Germany, the
world's largest medical products trade show. In March, 2006, we are scheduled to
exhibit our Freedom60 at the annual National Home Infusion Association
conference as well as Vital Care. If resources permit, we plan to attend the EMS
Today Show for the RES-Q-VAC, also in March.
OTHER
- -----
We continue to pursue capital investment through debt or equity to increase our
marketing and sales efforts, and to enhance our existing products and add to
product lines.
Our Freedom60 Syringe Infusion System is in the process of being evaluated by
the Bath Institute of Medical Engineering (BIME) in the United Kingdom for
eventual sale in that market. We have also added new RES-Q-VAC distributors in
several countries including Croatia, Dubai, Turkey, Hong Kong and China as a
result, in part, of our presence at the Medica trade show in Dusseldorf,
Germany, and our ongoing international sales efforts.
PART II - OTHER INFORMATION
- ---------------------------
ITEM 1. LEGAL PROCEEDINGS
The Company is neither a party to any material litigation, nor to the knowledge
of the officers and directors of the Company, is there any material litigation
threatened against the Company.
However, It has been brought to management's attention that one of the company's
German distributors had commenced selling a copy, manufactured in China, of our
basic RES-Q-VAC. The distributor has agreed to cease selling these copies but we
are concerned about the possibility of these copies appearing elsewhere.
Although we believe that the Chinese copy is inferior in quality and lacks Full
Stop Protection, it is being offered at a lower price and could adversely affect
our sales in international markets.
ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS
None.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
No matters were submitted to a vote of security holders of the Company during
the quarter ended November 30, 2005.
ITEM 5. OTHER INFORMATION
None.
11
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits
31.1 Certification of Chief Executive Officer and Principal Financial
Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1 Certification of Chief Executive Officer and Principal Financial
Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
(b) Reports on Form 8-K
SIGNATURES
Pursuant to the requirements of Section 13 or 15 (d) 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.
REPRO-MED SYSTEMS, INC.
/s/ Andrew I. Sealfon January 23, 2006
- ---------------------
Andrew I. Sealfon, President, Treasurer,
Chairman of the Board, Director, and
Chief Executive Officer
12