Business Context and Reporting Period
This Form 8-K Current Report was filed by Mitcham Industries, Inc. (not Mind Technology, Inc.) on August 9, 2001. The report serves to update the description of the Company's Common Stock as previously filed in its Form 8-A Registration Statement.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is a corporate governance update regarding capital structure rather than a financial performance report.
Capital Structure as of August 1, 2001:
- Authorized Common Stock: 20,000,000 shares (par value $0.01)
- Outstanding Common Stock: 8,935,901 shares
- Authorized Preferred Stock: 1,000,000 shares (par value $1.00)
- Outstanding Preferred Stock: 0 shares
Material Changes
The filing reports no material changes to financial operations. The only update provided is the restatement of the Common Stock description to reflect the current outstanding share count and reiterate voting and dividend rights.
Guidance, Outlook, and Risks
The filing contains no management guidance, future outlook, risk factors, or discussion of contingencies. It strictly details shareholder rights:
- Voting Rights: One vote per share; no cumulative voting or preemptive rights.
- Dividends: Discretionary, declared by the Board of Directors from legally available funds.
- Liquidation: Common shareholders share ratably in remaining assets after creditor and preferred stock obligations are met.
Investor Verification Checklist
- Verify the registrant name is Mitcham Industries, Inc. (Texas), not Mind Technology, Inc.
- Confirm the outstanding share count of 8,935,901 as of August 1, 2001.
- Note that no Preferred Stock is currently outstanding.
- Review the Amended and Restated Articles of Incorporation for full legal details on shareholder rights.