EDGAR FILING LLC PURADYN FILTER TECHNOLOGIES INC. Type: 8-K. Job: /13/ :20 PM

Transcription

1 EDGAR FILING LLC Client: PURADYN FILTER TECHNOLOGIES INC Type: 8-K Job: 128 Date: 05/13/ :20 PM

2 Submission Data File General Information Form Type* 8-K Subject-Company File Number Subject-Company CIK Subject-Company Name Subject-Company IRS Number Contact Name EDGAR FILING LLC Contact Phone Filer File Number Filer CIK* (PURADYN FILTER TECHNOLOGIES INC) Filer CCC* ********** Confirming Copy No Notify via Website only No Return Copy No Group Name Items* 2.02 Results of Operations and Financial Condition 7.01 Regulation FD Disclosure 9.01 Financial Statements and Exhibits SROS* NONE Depositor CIK Depositor 33 File Number Fiscal Year Item Submission Type Period* ABS Asset Class Type ABS Sub Asset Class Type Sponsor CIK (End General Information) Document Information File Count* 2 Document Name 1* pfti_8k.htm Document Type 1* 8-K Document Description 1 Current Report Document Name 2* pfti_ex99z1.htm Document Type 2* EX-99.1 Document Description 2 Press Release (End Document Information) Notifications Notify via Website only No 1 kmorris@puradyn.com 2 ASandler@puradyn.com 3 mscott@puradyn.com (End Notifications)

3 pfti_8k.htm 8-K 1 of 3 Current Report /13/ :20 PM UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC FORM 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) May 13, 2016 PURADYN FILTER TECHNOLOGIES INCORPORATED (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 2017 High Ridge Road, Boynton Beach, FL (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (561) not applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR ) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR e-4(c))

4 pfti_8k.htm /13/ :20 PM 2 of 3 Item 2.02 Results of Operations and Financial Condition. On May 13, 2016, Puradyn Filter Technologies Incorporated (the Company ) issued a press release announcing its financial results for the quarter ended March 31, A copy of this press release is included as Exhibit 99.1 to this report. Pursuant to General Instruction B.2 of Form 8-K, the information in this Item 2.02 of Form 8-K, including Exhibit 99.1, is being furnished pursuant to Item 2.02 and shall not be deemed filed for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise be subject to the liabilities of that section, nor is it incorporated by reference into any filing of the Company under the Securities Act of 1933 or the Securities Exchange Act of 1934, whether made before or after the date hereof, regardless of any general incorporation language in such filing. Item 7.01 Regulation FD Disclosure. As disclosed in Item 2.02 above, on May 13, 2016, the Company issued a press release, which is attached as Exhibit 99.1 hereto, announcing its financial results for the quarter ended March 31, A copy of this press release is included as Exhibit 99.1 to this report. Pursuant to General Instruction B.2 of Form 8-K, the information in this Item 7.01 of Form 8-K, including Exhibit 99.1, is being furnished pursuant to Item 2.02 and shall not be deemed filed for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise be subject to the liabilities of that section, nor is it incorporated by reference into any filing of the Company under the Securities Act of 1933 or the Securities Exchange Act of 1934, whether made before or after the date hereof, regardless of any general incorporation language in such filing. Item 9.01 (d) Financial Statements and Exhibits. Exhibits Exhibit No. Description 99.1 Press release dated May 13,

5 pfti_8k.htm /13/ :20 PM 3 of 3 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. PURADYN FILTER TECHNOLOGIES INCORPORATED Date: May 13, 2016 By: /s/ Alan J. Sandler Alan J. Sandler, Principal Financial Officer and Vice President 3

6 pfti_ex99z1.htm EX of 2 Press Release /13/ :20 PM EXHIBIT 99.1 Puradyn Reports st Quarter Unaudited Financial Results Boynton Beach, FL May 13, Puradyn Filter Technologies Incorporated (OTCQB: PFTI), developer of bypass oil filtration systems that reduce oil-related maintenance costs while protecting high-value industrial engines, today reported financial results for its first quarter ended March 31, 2016 (Q1 16). Puradyn s Q1 16 net sales declined to $438,000, a decrease of 38%, compared to $707,000 in Q1 15, principally due to a number of customers that have historically purchased the larger product models and who have been negatively impacted by the downturn in oil prices. Gross profit, as a percentage of sales, decreased by 10%, from 38% in the first quarter of 2015 to 28% in the first quarter of 2016 due to reduced sales that resulted in increased overhead allocations. Puradyn recorded a Q1 16 net loss of $415,100, or $(0.01) per basic share, compared to a net loss of $266,000, or $(0.01) per basic share in Q1 15. Kevin G. Kroger, President and COO, commented, The decline in our 2016 first quarter sales compared to the first quarter of 2015 was due to continued concerns from customers over oil price instability. However, as we see a slow but steady climb in crude oil prices since late February, we are also seeing renewed interest from many contractors as they begin preparing rigs for resumed demand for oil and gas exploration. With this in mind, we expect 2016 to continue to have its challenges although we are still making progress with regard to business opportunities through a couple of recent developments. Last week, we announced a significant order shipped to the Middle East by an oil and gas industry contractor based in the EU. And, as announced in February, strong interest continues to be generated by the addition of DistributionNow (DNOW) to our distributor base through its 300-location network. Kroger concluded, Puradyn continues to gain acceptance as a recognized solution provider in reducing oil-related maintenance costs. With the interest we have seen related to the gradual upturn in crude oil prices, as well as recent activity outside the oil and gas industry, we remain cautiously optimistic about the remainder of About Puradyn Filter Technologies ( Puradyn designs, manufactures and markets puradyn Oil Filtration Systems, the most effective bypass oil filtration products available for internal combustion engines, transmissions and hydraulic applications. Puradyn bypass filtration systems continuously clean lubricating oil and replenish base additives to maintain oil viscosity and safely and significantly extend oil change intervals and engine life. Effective for internal combustion engines, transmissions and hydraulic applications, Puradyn s patented, environmentally-conscious solutions deliver rapid return on investment by reducing oil consumption, maintenance and overhaul costs and engine downtime, while also protecting high-value engine assets. Puradyn filtration systems have been deployed on thousands of engines around the world and were also selected by the US Department of Energy for a three-year study of the performance and cost benefits of bypass oil filtration. Safe Harbor for Forward-Looking Statements: Statements in this press release, which are not historical data, are forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the company s control, including but not limited to our history of losses and uncertainty that we will be able to continue as a going concern, our ability to generate net sales in an amount to pay our operating expenses, our need for additional financing and uncertainties related to our ability to obtain these funds, our reliance on sales to a limited number of customers, our dependence on a limited number of distributors, our ability to compete, our ability to protect our intellectual property, and the application of penny stock rules to the trading in our stock, among others which may cause actual results, performance or achievements of the company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These risk factors include but are not limited to those detailed in the company s periodic filings with the SEC. Puradyn disclaims any responsibility to update any of the forward looking statements contained in this release.

7 pfti_ex99z1.htm /13/ :20 PM 2 of 2 PURADYN FILTER TECHNOLOGIES INCORPORATED CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) For the Three Months Ended March 31, Net sales $ 438,186 $ 706,629 Cost of products sold 316, ,023 Gross profit 121, ,606 Costs and expenses: Salaries and wages 237, ,602 Selling and administrative 213, ,088 Total Operating Costs 450, ,690 Loss from operations (329,201) (199,084) Other income (expense): Interest expense (85,856) (66,899) Net loss before income tax expense (415,057) (265,983) Income tax expense Net loss $ (415,057) $ (265,983) Loss per share basic and diluted: $ (0.01) $ (0.01) Basic and diluted weighted average common shares outstanding 48,683,135 48,683,135 Company Contact: Puradyn Filter Technologies, Inc. Kathryn Morris 866 PURADYN ( ) or kmorris@puradyn.com # # #