UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-QSB (Mark One) [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2001 [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT For the transition period from ________________ to _____________ Commission file number: 0-28353 INTEGRAL TECHNOLOGIES, INC. - -------------------------------------------------------------------------------- (Exact name of small business issuer as specified in it charter) NEVADA 98-0163519 - -------------------------------------------------------------- --------------------------------- (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.)
805 W. ORCHARD DRIVE, SUITE 3, BELLINGHAM, WASHINGTON 98225 - -------------------------------------------------------------------------------- (Address of principal executive offices) (360) 752-1982 --------------------------- (issuer's telephone number) - -------------------------------------------------------------------------------- (Former name, former address and former fiscal year, if changed since last report) Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or such shorter period that the issuer was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ] APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS Check whether the issuer filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court. Yes [ ] No [ ] APPLICABLE ONLY TO CORPORATE ISSUERS State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: AS OF FEBRUARY 8, 2002, THE ISSUER HAD 30,122,562 SHARES OF $.001 PAR VALUE COMMON STOCK OUTSTANDING. Transitional Small Business Disclosure Format (Check one): Yes [ ] No [X] INDEX
PAGE ---- PART I - FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS..............................................F-1 ITEM 2. PLAN OF OPERATION..................................................1 PART II - OTHER INFORMATION.................................................3 SIGNATURES..................................................................5
i PART I - FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS. INTEGRAL TECHNOLOGIES, INC. (A DEVELOPMENT STAGE COMPANY) CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2001 (U.S. DOLLARS) (UNAUDITED)
INDEX PAGE ----- ---- FINANCIAL STATEMENTS Consolidated Balance Sheets F-2 Consolidated Statements of Operations F-3 Consolidated Statements of Stockholders' Equity F-4 Consolidated Statements of Cash Flows F-5 Notes to Consolidated Financial Statements F-5 - F-7
F-1 INTEGRAL TECHNOLOGIES, INC. (A DEVELOPMENT STAGE COMPANY) CONSOLIDATED BALANCE SHEETS (U.S. DOLLARS) (UNAUDITED)
============================ DECEMBER 31, JUNE 30, 2001 2001 ------------ ------------ ASSETS CURRENT Cash $ 33,065 $ 69,556 Accounts receivable 16,037 27,344 Inventory 45,342 46,842 Prepaid expenses 25,165 165 ------------ ------------ TOTAL CURRENT ASSETS 119,609 143,907 PROPERTY AND EQUIPMENT 79,445 89,566 INVESTMENTS 1,250,000 1,250,000 ------------ ------------ TOTAL ASSETS $ 1,449,054 $ 1,483,473 ============ ============ LIABILITIES CURRENT Accounts payable and accruals $ 794,884 $ 746,530 Due to West Virginia University Research Corporation 397,296 397,296 Customer deposits 13,232 13,232 ------------ ------------ TOTAL CURRENT LIABILITIES 1,205,412 1,157,058 ------------ ------------ STOCKHOLDERS' EQUITY PREFERRED STOCK AND PAID-IN CAPITAL IN EXCESS OF $0.001 PAR VALUE 20,000,000 Shares authorized 564,410 (June 30, 2001 - 564,410) issued and outstanding 564,410 564,410 COMMON STOCK AND PAID-IN CAPITAL IN EXCESS OF $0.001 PAR VALUE 50,000,000 Shares authorized 28,632,562 (June 30, 2001 - 26,949,062) issued and 9,585,529 8,900,983 outstanding SUBSCRIPTIONS RECEIVED 292,250 50,000 PROMISSORY NOTES RECEIVABLE (58,500) (58,500) OTHER COMPREHENSIVE INCOME 46,267 46,267 DEFICIT ACCUMULATED DURING THE DEVELOPMENT STAGE (10,186,314) (9,176,745) ------------ ------------ TOTAL STOCKHOLDERS' EQUITY 243,642 326,415 ------------ ------------ TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 1,449,054 $ 1,483,473 ============ ============
See notes to consolidated financial statements. F-2 INTEGRAL TECHNOLOGIES, INC. (A DEVELOPMENT STAGE COMPANY) CONSOLIDATED STATEMENTS OF OPERATIONS (U.S. DOLLARS) (UNAUDITED)
============================ ============ =============== ============== PERIOD FROM FEBRUARY 12, 1996 THREE MONTHS ENDED SIX MONTHS ENDED (INCEPTION) TO DECEMBER 31, DECEMBER 31, DECEMBER 31, DECEMBER 31, DECEMBER 31, 2001 2000 2001 2000 2001 ------------ ------------ ------------ ------------ -------------- REVENUE $ 6,804 $ 8,571 $ 27,686 $ 8,571 $ 215,312 COST OF SALES 1,500 5,360 13,468 5,360 216,016 ------------ ------------ ------------ ------------ ------------ 5,304 3,211 14,218 3,211 (704) ------------ ------------ ------------ ------------ ------------ EXPENSES Consulting 204,548 38,661 417,804 74,361 1,464,333 Salaries and benefits 135,483 275,412 323,852 541,348 2,565,935 Legal and accounting 70,228 44,537 97,663 127,653 952,934 Travel and entertainment 24,864 67,326 49,613 109,725 576,504 General and administrative 36,708 29,129 46,853 63,955 398,297 Rent 8,054 19,083 17,885 40,426 205,563 Telephone 9,338 12,920 17,225 28,285 211,464 Bad debts 0 48,750 14,500 48,750 65,818 Research and development 1,818 89,706 6,509 145,153 1,241,629 Bank charges and interest, net 2,720 (20,725) 5,802 (51,326) 102,106 Advertising 2,788 57,642 5,486 102,787 254,033 Interest on beneficial conversion feature 0 0 0 0 566,456 Write-down of license and operating assets 0 0 0 0 1,806,700 Depreciation and amortization 3,004 29,325 6,485 52,476 231,851 ------------ ------------ ------------ ------------ ------------ 499,553 691,766 1,009,677 1,283,593 10,643,623 ------------ ------------ ------------ ------------ ------------ LOSS BEFORE EXTRAORDINARY ITEM 494,249 688,555 995,459 1,280,382 10,644,327 EXTRAORDINARY ITEM Cancellation of debt 0 0 0 0 (602,843) ------------ ------------ ------------ ------------ ------------ NET LOSS FOR PERIOD $ 494,249 $ 688,555 $ 995,459 $ 1,280,382 $ 10,041,484 ============ ============ ============ ============ ============ NET LOSS PER COMMON SHARE $ (0.02) $ (0.03) $ (0.04) $ (0.05) ============ ============ ============ ============ ============ WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING 28,236,958 26,332,262 27,650,331 26,182,171 ============ ============ ============ ============ ============
See notes to consolidated financial statements. F-3 INTEGRAL TECHNOLOGIES, INC. (A DEVELOPMENT STAGE COMPANY) CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) (U.S. DOLLARS)
============ ============ ============ ============ ============ ============== COMMON PREFERRED STOCK AND STOCK AND SHARES OF PAID-IN SHARES OF PAID-IN COMMON CAPITAL PREFERRED CAPITAL PROMISSORY STOCK IN EXCESS STOCK IN EXCESS NOTES SUBSCRIPTIONS ISSUED OF PAR ISSUED OF PAR RECEIVED RECEIVABLE ------------ ------------ ------------ ------------ ------------ -------------- BALANCE, JUNE 30, 2000 26,032,062 $ 8,384,781 664,410 $ 664,410 $ (58,500) $ 0 Shares issued for Private placement 81,885 112,480 0 0 0 0 Exercise of options 517,000 91,515 0 0 0 0 For services 100,000 40,000 0 0 0 0 Held in escrow 218,115 0 0 0 0 0 Stock option compensation 0 272,207 0 0 0 0 Dividends on preferred shares 0 0 0 0 0 0 Share subscriptions 0 0 0 0 0 50,000 Redeemed shares 0 0 (100,000) (100,000) 0 0 Foreign currency translation 0 0 0 0 0 0 Net loss for period 0 0 0 0 0 0 ------------ ------------ ------------ ------------ ------------ -------------- BALANCE, JUNE 30, 2001 26,949,062 8,900,983 564,410 564,410 (58,500) 50,000 Shares issued for Held in escrow 500,000 0 0 0 0 0 Exercise of options 858,500 174,200 0 0 0 0 Exercise of warrants 325,000 130,000 0 0 0 0 Stock option compensation 0 349,910 0 0 0 0 Shares released from escrow 0 30,436 0 0 0 0 Dividends on preferred shares 0 0 0 0 0 0 Share subscriptions 0 0 0 0 0 242,250 Net loss for period 0 0 0 0 0 0 ------------ ------------ ------------ ------------ ------------ -------------- BALANCE, DECEMBER 31, 2001 28,632,562 $ 9,585,529 564,410 564,410 $ (58,500) $ 292,250 ============ ============ ============ ============ ============ ============== ============== ============ ============== DEFICIT ACCUMULATED OTHER DURING THE TOTAL COMPREHENSIVE DEVELOPMENT STOCKHOLDERS' INCOME STAGE EQUITY -------------- ------------ -------------- BALANCE, JUNE 30, 2000 $ 46,293 $ (5,045,856) $ 3,991,128 Shares issued for Private placement 0 0 112,480 Exercise of options 0 0 91,515 For services 0 0 40,000 Held in escrow 0 0 0 Stock option compensation 0 0 272,207 Dividends on preferred shares 0 (30,720) (30,720) Share subscriptions 0 0 50,000 Redeemed shares 0 (100,000) (200,000) Foreign currency translation (26) 0 (26) Net loss for period 0 (4,000,169) (4,000,169) -------------- ------------ -------------- BALANCE, JUNE 30, 2001 46,267 (9,176,745) 326,415 Shares issued for Held in escrow 0 0 0 Exercise of options 0 0 174,200 Exercise of warrants 0 0 130,000 Stock option compensation 0 0 349,910 Shares released from escrow 0 0 30,436 Dividends on preferred shares 0 (14,110) (14,110) Share subscriptions 0 0 242,250 Net loss for period 0 (995,459) (995,459) -------------- ------------ -------------- BALANCE, DECEMBER 31, 2001 $ 46,267 $(10,186,314) $ 243,642 ============== ============ ==============
See notes to consolidated financial statements. F-4 INTEGRAL TECHNOLOGIES, INC. (A DEVELOPMENT STAGE COMPANY) CONSOLIDATED STATEMENTS OF CASH FLOWS (U.S. DOLLARS)
============================ ============ PERIOD FROM FEBRUARY 12, 1996 (INCEPTION) SIX MONTHS ENDED THROUGH DECEMBER 31, DECEMBER 31, DECEMBER 31, 2001 2000 2001 ------------ ------------ ------------ OPERATING ACTIVITIES Net loss $ (995,459) $ (1,280,382) $(10,041,484) Adjustments to reconcile net loss to net cash used in operating activities Depreciation and amortization 10,121 52,476 252,496 Extraordinary item 0 0 (602,843) Consulting services and financing fees 0 0 417,108 Stock option compensation benefit 349,910 10,124 740,973 Interest on beneficial conversion 0 0 566,456 Settlement of lawsuit 0 0 15,000 Write-down of license and operating assets 0 0 1,806,700 Bad debts 14,500 0 65,818 Changes in non-cash working capital Due from affiliated company 0 0 (116,000) Notes and accounts receivable (3,193) 38,063 (113,356) Inventory 1,500 (21,842) (45,342) Prepaid expenses (25,000) 5,230 (25,165) Deferred revenue 0 0 13,232 Other 0 0 (2,609) Accounts payable and accruals 158,502 11,495 1,082,553 Due to West Virginia University 0 0 397,296 ------------ ------------ ------------ CASH USED IN OPERATING ACTIVITIES (489,119) (1,184,836) (5,589,167) ------------ ------------ ------------ INVESTING ACTIVITIES Purchase of property, equipment and intangibles assets 0 (60,476) (200,935) Assets acquired and liabilities assumed on purchase of subsidiary 0 0 (129,474) Investment purchase 0 (950,000) (2,000,000) License agreement 0 0 (124,835) ------------ ------------ ------------ NET CASH USED BY INVESTING ACTIVITIES 0 (1,010,476) (2,455,244) ------------ ------------ ------------ FINANCING ACTIVITIES Repayment of loan 0 0 (45,000) Repayment to stockholders 0 0 (94,046) Subscriptions received 242,192 0 292,192 Issuance of common stock 210,436 105,356 6,427,199 Advances from stockholders, net of repayments 0 0 1,078,284 Share issue costs 0 0 (227,420) Proceeds from convertible debentures 0 0 600,000 ------------ ------------ ------------ NET CASH PROVIDED BY FINANCING ACTIVITIES 452,628 105,356 8,031,209 ------------ ------------ ------------ EFFECT OF FOREIGN CURRENCY TRANSLATION ON CASH 0 225 46,267 ------------ ------------ ------------ INFLOW (OUTFLOW) OF CASH (36,491) (2,089,731) 33,065 CASH, BEGINNING OF PERIOD 69,556 2,908,700 0 ------------ ------------ ------------ CASH, END OF PERIOD $ 33,065 $ 818,969 $ 33,065 ============ ============ ============
See notes to consolidated financial statements. F-5 INTEGRAL TECHNOLOGIES, INC. (A DEVELOPMENT STAGE COMPANY) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS SIX MONTHS ENDED DECEMBER 31, 2001 (U.S. DOLLARS) ================================================================================ 1. BASIS OF PRESENTATION These unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States for interim financial information. These financial statements are condensed and do not include all disclosures required for annual financial statements. The organization and business of the Company, accounting policies followed by the Company and other information are contained in the notes to the Company's audited consolidated financial statements filed as part of the Company's June 30, 2001 Form 10-KSB. In the opinion of the Company's management, these financial statements reflect all adjustments necessary to present fairly the Company's consolidated financial position at December 31, 2001 and June 30, 2001, the consolidated results of operations for the three months and six month ended December 31, 2001 and 2000 and the consolidated statements of cash flows for the six months ended December 31, 2001 and 2000. The results of operations for the six months and three months ended December 31, 2001 are not necessarily indicative of the results to be expected for the entire fiscal year. 2. STOCKHOLDERS' EQUITY (a) During the period, the Company: (i) Pursuant to an agreement with Swartz Private Equity LLC ("Swartz") as described in the notes to the Company's audited consolidated financial statements filed as part of the Company's June 30, 2001 Form 10-KSB, the Company issued 67,635 shares for total proceeds of $30,436 and granted 6,764 stock purchase warrants exercisable at a price of $0.56 per share. (ii) Pursuant to the 2001 Plan, granted a total of 575,000 fully vested stock options to employees and consultants of the Company at an exercise price ranging from $0.40 to $1.50 per share which will expire August 31, 2003. 500,000 of the 575,000 options were granted to consultants and have been recognized applying FASB 123 using the Black-Scholes option pricing model which resulted in additional consulting expense for the three months ended December 31, 2001 of $168,600. F-6 INTEGRAL TECHNOLOGIES, INC. (A DEVELOPMENT STAGE COMPANY) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS SIX MONTHS ENDED DECEMBER 31, 2001 (U.S. DOLLARS) ================================================================================ 2. STOCKHOLDERS' EQUITY (Continued) (iii) The following table summarizes the Company's stock option activity for the period:
========= ================ ======== Weighted Exercise Average Number Price Exercise Of Shares Per Share Price --------- ---------------- -------- Balance, September 30, 2001 2,080,000 $ 0.40 to $ 1.20 $ 0.65 Granted during period 575,000 $ 0.40 to $ 1.50 $ 0.68 Cancelled (200,000) $ 0.50 to $ 1.16 $ 1.00 --------- ---------------- ------ Balance, December 31, 2001 2,455,000 $ 0.40 to $ 1.50 $ 0.63 ========= ================ ======
(iv) The Company applies APB Opinion No. 25 and related interpretations in accounting for its stock options granted to employees, and accordingly, compensation expense of $3,000 was recognized as wages expense for the three month period ended December 31, 2001. Had compensation expense been determined as provided in SFAS 123 using the Black-Scholes option - pricing model, the pro-forma effect on the Company's net loss and per share amounts would have been as follows:
============== ============== THREE MONTHS SIX MONTHS ENDED ENDED DECEMBER 31, DECEMBER 31, 2001 2001 -------------- -------------- Net loss, as reported $ (494,249) $ (995,459) Net loss, pro-forma $ (510,974) $ (1,300,499) Net loss per share, as reported $ (0.02) $ (0.04) Net loss per share, pro-forma $ (0.02) $ (0.05) ============== ==============
The fair value of each option grant is calculated using the following weighted average assumption: ===== Expected life (years) 2 Interest rate 5.00% Volatility 62.70% Dividend yield 0.00% =====
(v) Amended the 2001 stock plan to increase the number of options to be granted under this plan from 2,500,000 common shares to 3,500,000 common shares. F-7 INTEGRAL TECHNOLOGIES, INC. (A DEVELOPMENT STAGE COMPANY) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS SIX MONTHS ENDED DECEMBER 31, 2001 (U.S. DOLLARS) ================================================================================ 2. STOCKHOLDERS' EQUITY (Continued) (b) Subsequent to December 31, 2001, the Company: (i) issued 840,000 shares on exercise of stock options for total proceeds of $430,250. (ii) Pursuant to the agreement with Swartz Private Equity LLC ("Swartz"), issued 547,865 shares for total proceeds of $734,139 and granted 54,787 share purchase warrants exercisable at a price of $1.69 per share. F-8 ITEM 2. PLAN OF OPERATION. To date the Company has recorded nominal revenues from operations. The Company is still considered a development stage company for accounting purposes. From inception on February 12, 1996 through December 31, 2001, the Company has accrued an accumulated deficit of approximately $10.2 million. For the fiscal year ended June 30, 2001, the Company incurred a one-time write-down of approximately $1.4 million, which represents all previously capitalized costs associated with the acquisition of a controlling interest in its subsidiary, Emergent Technologies Corp., and its rights to the Contrawound Toriodal Helical Antenna technology. This write-down was required under applicable generally accepted accounting principals because the Company does not intend to further develop or market this technology in the foreseeable future. As a result of the commercial interest in the antenna products of the Company's subsidiary, Antek Wireless, Inc., the Company presently intends to focus substantially all of its resources on the commercialization and sales of the Antek antenna products. As a result, the Company does not anticipate devoting any of its resources on the research, development and commercialization of its other technologies during the next twelve months. The Company's ability to fully-implement its plan of operation during the last fiscal year was disrupted due to the burden of defending the lawsuit filed against the Company by IAS Communications, Inc. in May 2000. The lawsuit was dismissed with prejudice in September 2001, which means that the litigation has ended and IAS is precluded from pursuing its claims. The Company expects to now be able to focus on its marketing efforts through to the end of calendar 2002 on several wireless market segments through its wholly-owned subsidiary, Antek Wireless, Inc. The primary wireless segment that the Company will focus on will be mobile asset tracking, facilitated through the Orbcomm LLC constellation of 35 low-earth orbit ("LEO") satellites. Potential customers include trucking companies, railway operators and boat/ship owners. Marketing efforts will also be focused on the wireless office ("local area network" or "LAN"), cellular and global positioning system ("GPS") markets. To date, the Company has relied on loans from management and management's ability to raise capital through debt and equity private placement financings to fund its operations. During the past two fiscal years, the Company completed the following financing transactions: 1. In March 2000, the Company completed a private placement of common stock and common stock purchase warrants which resulted in aggregate cash proceeds to the Company of nearly $4 million. 2. In May 2000, the Company entered into an Investment Agreement with Swartz Private Equity, LLC ("Swartz"). Pursuant to the terms of the Investment Agreement, the Company may, in its sole discretion and subject to certain restrictions, periodically sell ("Put") shares of common stock to Swartz for up to $25,000,000. Pursuant to the terms of the Investment Agreement, the Put share price will be determined and paid to the Company twenty business days after the date of the Put. The terms of the Investment Agreement are more fully described in Item 1 (Description of Business) under the subsection entitled "Investment Agreement with Swartz Private Equity, LLC." During the current fiscal year, the Company received net proceeds of $30,436 from a Put of 67,635 shares to Swartz that was completed in October 2001, and an additional $734,139 from a Put of 547,865 shares to Swartz that was completed in January 2002. 1 The Company does not currently have adequate funds available to fund its operations over the next twelve months. If the Company does not earn adequate revenues to sufficiently fund operations during this time period, the Company will attempt to raise capital through the sale of its securities pursuant to the Investment Agreement with Swartz. There can be no assurance, however, that market conditions will permit the Company to raise sufficient funds pursuant to the Investment Agreement with Swartz or that additional financing will be available when needed or on terms acceptable to the Company. 2 PART II - OTHER INFORMATION ITEM 1. LEGAL PROCEEDINGS. There have been no material developments in any legal proceedings except as previously described in the Company's periodic reports. ITEM 2. CHANGES IN SECURITIES. In December 2001, the Company issued 500,000 shares of common stock to Swartz Private Equity , LLC in connection with a Put pursuant to an Investment Agreement dated May 11, 2000. The Company believes that the transaction was exempt from registration pursuant to Section 4(2) of the Securities Act of 1933, as amended, and/or Rule 506 of Regulation D. The shares are registered for resale by Swartz pursuant to an effective registration statement of Form SB-2 (file no. 333-41938). In January 2002, the Company issued 200,000 shares of common stock to Swartz Private Equity, LLC in connection with a Put pursuant to an Investment Agreement dated May 11, 2000. The Company believes that the transaction was exempt from registration pursuant to Section 4(2) of the Securities Act of 1933, as amended, and/or Rule 506 of Regulation D. The shares are registered for resale by Swartz pursuant to an effective registration statement of Form SB-2 (file no. 333-41938). In January 2002, the Company issued an aggregate of 450,000 shares of common stock to two employees in consideration of the execution of a "Proprietary, Non-Disclosure and Non-Solicitation Agreement" by each person. A restrictive legend was placed on each certificate evidencing the shares. The Company believes that the transactions were exempt from registration pursuant to Section 4(2) of the Securities Act of 1933, as amended, and/or Rule 506 of Regulation D. ITEM 3. DEFAULTS UPON SENIOR SECURITIES - None. ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS - None. ITEM 5. OTHER INFORMATION - None. ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K. 3.1 Articles of Incorporation, as amended and currently in effect. (Incorporated by reference to Exhibit 3.1 of Integral's registration statement on Form 10-SB (file no. 0-28353) filed December 2, 1999.) 3.2 Bylaws, as amended and restated on December 31, 1997. (Incorporated by reference to Exhibit 3.2 of Integral's registration statement on Form 10-SB (file no. 0-28353) filed December 2, 1999.) 4.3 Investment Agreement dated May 11, 2000, by and between Integral and Swartz Private Equity, LLC. (Incorporated by reference to Exhibit 4.1 of Integral's registration statement on Form SB-2 (file no. 333-41938) filed July 21, 2000.) 4.4 Warrant to purchase common stock issued to Swartz Private Equity, LLC on May 11, 2000, in connection with the offering of securities described in Exhibit 4.3. (Incorporated by reference to Exhibit 4.1 of Integral's registration statement on Form SB-2 (file no. 333-41938) filed July 21, 2000.) 4.5 Registration Rights Agreement, dated May 11, 2000, by and between Integral and Swartz Private Equity, LLC, related to the registration of the common stock to be sold pursuant to 3 Exhibit 4.3. (Incorporated by reference to Exhibit 4.1 of Integral's registration statement on Form SB-2 (file no. 333-41938) filed July 21, 2000.) 4.6 Warrant to Purchase Common Stock to be issued from time to time in connection with the offering of securities described in Exhibit 4.3 (Incorporated by reference to Exhibit 4.1 of Integral's registration statement on Form SB-2. (file no. 333-41938) filed July 21, 2000.) 4.7 Warrant Side Agreement dated May 11, 2000 between Integral and Swartz related to the offering of securities described in Exhibit 4.3. (Incorporated by reference to Exhibit 4.1 of Integral's registration statement on Form SB-2 (file no. 333-41938) filed July 21, 2000.) 10.7 Employee Benefit And Consulting Services Compensation Plan, as restated January 10, 1999. (Incorporated by reference to Exhibit 10.7 of Integral's registration statement on Form 10-SB (file no. 0-28353) filed December 2, 1999.) 10.9 Employment Agreement between Integral and William S. Robinson dated January 2, 2001. (Incorporated by reference to Exhibit 10.9 of Integral's Form 10-QSB for the quarter ended December 31, 2000 filed February 14, 2001.) 10.10 Employment Agreement between Integral and William A. Ince dated January 2, 2001. (Incorporated by reference to Exhibit 10.10 of Integral's Form 10-QSB for the quarter ended December 31, 2000 filed February 14, 2001.) 10.12 Integral Technologies, Inc. 2001 Stock Plan dated January 2, 2001, as amended December 17, 2001. (Incorporated by reference to Exhibit 10.12 of Integral's registration statement on Form S-8 (file no. 333-76058).) (b) Reports on Form 8-K - None. 4 SIGNATURES In accordance with the requirements of the Exchange Act, the Company caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. INTEGRAL TECHNOLOGIES, INC. By: /s/ William S. Robinson ------------------------------------------------------- William S. Robinson, Chairman, Chief Executive Officer, Treasurer and Director By: /s/ William A. Ince ------------------------------------------------------- William A. Ince, President, Secretary, Chief Financial Officer and Director Date: February 12, 2002 5