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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>/in/edgar/work/0001003297-00-500057/0001003297-00-500057.txt : 20001115
<SEC-HEADER>0001003297-00-500057.hdr.sgml : 20001115
ACCESSION NUMBER:		0001003297-00-500057
CONFORMED SUBMISSION TYPE:	10QSB
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20000930
FILED AS OF DATE:		20001114

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRO DEX INC
		CENTRAL INDEX KEY:			0000788920
		STANDARD INDUSTRIAL CLASSIFICATION:	 [5047
]		IRS NUMBER:				841261240
		STATE OF INCORPORATION:			CO
		FISCAL YEAR END:			0630
</COMPANY-DATA>

		FILING VALUES:
			FORM TYPE:		10QSB
			SEC ACT:		
			SEC FILE NUMBER:	000-14942
			FILM NUMBER:		765868
</FILING-VALUES>

			BUSINESS ADDRESS:	
				STREET 1:		1401 WALNUT ST STE 500
				CITY:			BOULDER
				STATE:			CO
				ZIP:			80302-5333
				BUSINESS PHONE:		3034438165
</BUSINESS-ADDRESS>

				MAIL ADDRESS:	
					STREET 1:		1401 WALNUT STREET
					STREET 2:		SUITE 540
					CITY:			BOULDER
					STATE:			CO
					ZIP:			80302
</MAIL-ADDRESS>
</FILER>
</SEC-HEADER>
<DOCUMENT>
<TYPE>10QSB
<SEQUENCE>1
<FILENAME>prodexq.htm
<DESCRIPTION>HTML DOCUMENT
<TEXT>

<HTML>
<HEAD>
<TITLE>Prepared by Monique Price & Company - www.edgar2.net</TITLE>
</HEAD>
<BODY LINK="#0000ff" VLINK="#800080">

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&#9;</P>
</FONT><FONT SIZE=2><P ALIGN="CENTER">U.S. SECURITIES AND EXCHANGE COMMISSION</FONT><FONT FACE="Arial Narrow"><BR>
</FONT><FONT SIZE=2>Washington, D.C. 20549</P>
</FONT><FONT FACE="Arial Narrow"><P ALIGN="CENTER">_________________________</P>
<P ALIGN="CENTER">FORM 10-QSB</P>
<P ALIGN="CENTER">(Mark One)</P>
<P ALIGN="left">
[X]&nbsp;&nbsp;&nbsp;&nbsp;Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly&nbsp;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; period ended September 30, 2000.</P>
<P ALIGN="left">[&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp;Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.</P><DIR>
<DIR>

<P ALIGN="JUSTIFY">&nbsp;</P></DIR>
</DIR>

<P ALIGN="CENTER">Commission File Number 0-14942</P>
<U><P ALIGN="CENTER">PRO-DEX, INC.</U><BR>
(Name of small business issuer in its charter)</P></FONT>
<TABLE BORDER="0" CELLSPACING=1 WIDTH=700>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P ALIGN="CENTER"><U><FONT FACE="Arial Narrow">Colorado</U></FONT></TD>
<TD WIDTH="50%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="CENTER">84-1261240</U></FONT></TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">(State or other jurisdiction of Incorporation or organization)</FONT></TD>
<TD WIDTH="50%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">(IRS Employer ID No.)</FONT></TD>
</TR>
</TABLE>

<U><P ALIGN="CENTER">650 S. Taylor Avenue, Suite 20A, Louisville, Colorado 80027<FONT FACE="Arial Narrow"><BR>
</FONT>
</U>(Address of principal executive offices)</P>
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Issuer's telephone number: <U>(303) 443-6136</P>
</U>
<P ALIGN="JUSTIFY">&nbsp;</P>

<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp; Check whether the issuer (1) has filed all reports required by Section 13 or 15(d) of the Exchange Act during the past 12 months, and (2) has been subject to such filing requirements for the past 90 days.</P>
<P ALIGN="CENTER">Yes [X]&nbsp;&nbsp; No [ ]</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp; The number of shares of the Registrant's no par value common stock outstanding as of November 5, 2000 was 8,787,300.</P>
<hr color="#000080" align="left">
<DIR>

<P ALIGN="JUSTIFY">&nbsp;</P></DIR>

<B><P ALIGN="CENTER">PRO-DEX, INC. AND SUBSIDIARIES</P>
</B>

<P ALIGN="CENTER">DOCUMENTS INCORPORATED BY REFERENCE: None.</P>
<P ALIGN="CENTER"><u>Table of Contents</u></P>
</FONT>
<TABLE BORDER="0" CELLSPACING=1 WIDTH=700>
<TR><TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="26%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="53%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="CENTER">Page No.</U></FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">PART I</FONT></TD>
<TD WIDTH="26%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="53%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Financial Information</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="26%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="53%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="26%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Item 1.</FONT></TD>
<TD WIDTH="53%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="26%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="53%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Financial Statements</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="26%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="53%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY"><a href="#CONSOLIDATED BALANCE SHEET">Consolidated Balance Sheets</a></FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">1</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="26%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="53%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P><a href="#CONSOLIDATED STATEMENTS OF INCOME">Consolidated Statements of Income</a></FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">3</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="26%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="53%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P><a href="#CONSOLIDATED STATEMENTS OF CASH FLOWS">Consolidated Statements of Cash Flow</a></FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">4</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="26%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="53%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P><a href="#NOTES TO CONSOLIDATED FINANCIAL STATEMENTS">Notes to Consolidated Financial Statements</a></FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">5</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="26%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="53%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="26%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Item 2.</FONT></TD>
<TD WIDTH="53%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY"><a href="#Item 2. Management's Discussion and Analysis">Management Discussion and Analysis</a></FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">6</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="26%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="53%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">PART II</FONT></TD>
<TD WIDTH="26%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="53%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Other Information</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="26%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="53%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="26%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Item 6.</FONT></TD>
<TD WIDTH="53%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="26%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="53%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY"><a href="#signed">Signatures</a></FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">10</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="26%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="53%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY"><a href="#EXHIBIT INDEX">Exhibits (See exhibits index)</a></FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">11</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="26%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="53%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
</TABLE>

<B><FONT FACE="Arial Narrow"><P ALIGN="CENTER">&nbsp;</P>
<hr color="#000080">
<P ALIGN="CENTER">PRO-DEX, INC. AND SUBSIDIARIES</P>
<P ALIGN="CENTER"><a name="CONSOLIDATED BALANCE SHEET">CONSOLIDATED BALANCE
SHEET</a>S</P>
<P ALIGN="CENTER">ASSETS</P></B></FONT>
<P ALIGN="CENTER">&nbsp;<CENTER>
<div align="left">
  <TABLE BORDER="0" CELLSPACING=1>
<TR><TD width="399" VALIGN="TOP">
<P></TD>
<TD width="160" VALIGN="TOP" align="center">
<P ALIGN="CENTER">&nbsp;<FONT FACE="Arial Narrow">September 30,<br>
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u>
<u>
2000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
</CENTER>
<TD width="146" VALIGN="TOP" align="center">
<FONT FACE="Arial Narrow">June 30,<br>
<u>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
<CENTER>
</TR>
<TR><TD width="399" VALIGN="TOP"><P></P></TD>
<TD width="156" VALIGN="TOP" align="center">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">(unaudited)</FONT></TD>
</CENTER>
<TD width="156" VALIGN="TOP" align="center">
</TD>
</TR>
  <CENTER>
<TR><TD width="399" VALIGN="TOP" align="left">
<FONT FACE="Arial Narrow"><P>Current assets:</FONT></TD>
<TD width="160" VALIGN="TOP" align="right"><P></P></TD>
<TD width="146" VALIGN="TOP" align="right"><P></P></TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Cash and cash equivalents
</FONT></TD>
<TD width="160" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
457,391&nbsp;</FONT></TD>
<TD width="146" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
473,188&nbsp;</FONT></TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Accounts receivable, net of allowance for doubtful
</FONT></TD>
<TD width="160" VALIGN="TOP" align="right"><P></P></TD>
<TD width="146" VALIGN="TOP" align="right"><P></P></TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
accounts of $57,000 and $76,000
</FONT></TD>
<TD width="160" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,352,601&nbsp;</FONT></TD>
<TD width="146" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,934,337&nbsp;</FONT></TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Inventories, net
</FONT></TD>
<TD width="160" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">4,922,545&nbsp;</FONT></TD>
<TD width="146" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">4,246,357&nbsp;</FONT></TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Deferred taxes
</FONT></TD>
<TD width="160" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">946,296&nbsp;</FONT></TD>
<TD width="146" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,230,000&nbsp;</FONT></TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Prepaid expenses
</FONT></TD>
<TD width="160" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">493,397&nbsp;</FONT></TD>
<TD width="146" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">100,969&nbsp;</FONT></TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left">

  </TD>
<TD width="160" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70">
  </TD>
<TD width="146" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Total current assets</FONT></TD>
<TD width="160" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">10,172,230&nbsp;</FONT></TD>
<TD width="146" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">9,984,851&nbsp;</FONT></TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left"><P></P></TD>
<TD width="160" VALIGN="TOP" align="right">
  <hr align="right" color="#000080" width="70">
  </TD>
<TD width="146" VALIGN="TOP" align="right">
  <hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left"><P></P></TD>
<TD width="160" VALIGN="TOP" align="right"><P></P></TD>
<TD width="146" VALIGN="TOP" align="right"><P></P></TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left">

<FONT FACE="Arial Narrow"><P>Property and equipment
</FONT></TD>
<TD width="160" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">6,313,855&nbsp;</FONT></TD>
<TD width="146" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">6,273,961&nbsp;</FONT></TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Less accumulated depreciation
</FONT></TD>
<TD width="160" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(3,784,107)</FONT></TD>
<TD width="146" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(3,612,992)</FONT></TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left">

  </TD>
<TD width="160" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70">
  </TD>
<TD width="146" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Net property and equipment</FONT></TD>
<TD width="160" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,529,748&nbsp;</FONT></TD>
<TD width="146" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,660,969&nbsp;</FONT></TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left"><P></P></TD>
</CENTER>
<TD width="160" VALIGN="TOP" align="right">
  <hr align="right" color="#000080" width="70">
</TD>
  <CENTER>
<TD width="146" VALIGN="TOP" align="right">
  <hr align="right" color="#000080" width="70">
</TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left">
<FONT FACE="Arial Narrow"><P>Other assets:</FONT></TD>
<TD width="160" VALIGN="TOP" align="right"><P></P></TD>
<TD width="146" VALIGN="TOP" align="right"><P></P></TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Deferred taxes
</FONT></TD>
<TD width="160" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">612,000&nbsp;</FONT></TD>
<TD width="146" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">612,000&nbsp;</FONT></TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Other
</FONT></TD>
<TD width="160" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">304,474&nbsp;</FONT></TD>
<TD width="146" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">305,833&nbsp;</FONT></TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Intangibles, net
</FONT></TD>
<TD width="160" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,711,789&nbsp;</FONT></TD>
<TD width="146" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,858,983&nbsp;</FONT></TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left">

  </TD>
<TD width="160" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70">
  </TD>
<TD width="146" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Total other assets
</FONT></TD>
<TD width="160" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,628,263&nbsp;</FONT></TD>
<TD width="146" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,776,816&nbsp;</FONT></TD>
</TR>
<tr>
  <TD width="399" VALIGN="TOP" align="left">

  </TD>
<TD width="160" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70">
  </TD>
<TD width="146" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70">
  </TD>
</tr>
<TR><TD width="399" VALIGN="TOP" align="left">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Total assets
</FONT></TD>
<TD width="160" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp; 16,330,241&nbsp;</FONT></TD>
</CENTER>
  <CENTER>
<TD width="146" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp; 16,422,636&nbsp;</FONT></TD>
</TR>
<TR><TD width="399" VALIGN="TOP" align="left">

  </TD>
<TD width="160" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70" size="6">
  </TD>
<TD width="146" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70" size="6">
  </TD>
</TR>
</TABLE>
</div>
</CENTER>

<FONT FACE="Arial Narrow"><P ALIGN="left">See &quot;Notes to Consolidated
Financial Statements&quot;.</P>
<hr align="right" color="#000080">
<P ALIGN="CENTER">&nbsp;</P>
<B><P ALIGN="CENTER">PRO-DEX, INC. AND SUBSIDIARIES</P>
<P ALIGN="CENTER">CONSOLIDATED BALANCE SHEETS - CONTINUED</P>
<P ALIGN="CENTER">LIABILITIES &amp; SHAREHOLDERS' EQUITY</P></B></FONT>
<div align="left">
<TABLE BORDER="0" CELLSPACING=1>
<TR><TD WIDTH="453" VALIGN="TOP" height="20">
  </TD>
<TD width="127" VALIGN="TOP" align="center">
<FONT FACE="Arial Narrow">September 30,<br>
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
<TD width="102" VALIGN="TOP" align="center">
<FONT FACE="Arial Narrow">June 30,<br>
<u>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="20">
  </TD>
<TD WIDTH="127" VALIGN="TOP" height="20">
<p align="center">
<FONT FACE="Arial Narrow">(unaudited)</FONT></TD>
<TD WIDTH="102" VALIGN="TOP" height="20">
  </TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="20">
<FONT FACE="Arial Narrow"><P>Current liabilities:</FONT></TD>
<TD WIDTH="127" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="102" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Current portion of long-term debt
</FONT></TD>
<TD width="127" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp; 7,248,965&nbsp;</FONT></TD>
<TD width="102" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp; 7,637,487&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Accounts payable
</FONT></TD>
<TD width="127" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,250,481&nbsp;</FONT></TD>
<TD width="102" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">848,923&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses
</FONT></TD>
<TD width="127" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,468,633&nbsp;</FONT></TD>
<TD width="102" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,005,866&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="14">

  </TD>
<TD width="127" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70">
  </TD>
<TD width="102" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Total current liabilities
</FONT></TD>
<TD width="127" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">9,968,079&nbsp;</FONT></TD>
<TD width="102" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">10,492,276&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="19">
<P>&nbsp;</TD>
<TD width="127" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70">
  </TD>
<TD width="102" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="19">
<P>&nbsp;</TD>
<TD width="127" VALIGN="TOP" align="right">
<P>&nbsp;</TD>
<TD width="102" VALIGN="TOP" align="right">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="20">
<FONT FACE="Arial Narrow"><P>Commitments and contingencies</FONT></TD>
<TD width="127" VALIGN="TOP" align="right">
<P>&nbsp;</TD>
<TD width="102" VALIGN="TOP" align="right">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="19">
<P>&nbsp;</TD>
<TD width="127" VALIGN="TOP" align="right">
<P>&nbsp;</TD>
<TD width="102" VALIGN="TOP" align="right">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="20">
<FONT FACE="Arial Narrow"><P>Shareholders' equity:</FONT></TD>
<TD width="127" VALIGN="TOP" align="right">
<P>&nbsp;</TD>
<TD width="102" VALIGN="TOP" align="right">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="40">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Series A convertible preferred shares, no par value; liquidation<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; preference of $3.60 per share; 10,000,000 shares&nbsp;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; authorized; 78,129 shares issued and outstanding
</FONT></TD>
<TD width="127" VALIGN="TOP" align="right">
<P>&nbsp;<FONT FACE="Arial Narrow"><br>
<br>
282,990&nbsp;</FONT></TD>
<TD width="102" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT"><br>
<br>
282,990&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></TD>
<TD width="127" VALIGN="TOP" align="right">
  </TD>
<TD width="102" VALIGN="TOP" align="right">
  </TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common shares, no par value; 50,000,000 shares<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; authorized; 8,787,300 shares issued and outstanding
</FONT></TD>
<TD width="127" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT"><br>
14,975,694&nbsp;</FONT></TD>
<TD width="102" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT"><br>
14,975,694&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Accumulated deficit
</FONT></TD>
<TD width="127" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(8,777,167)</FONT></TD>
<TD width="102" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(9,202,720)</FONT></TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="20">

  </TD>
<TD width="127" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70">
  </TD>
<TD width="102" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD width="127" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">6,481,517&nbsp;</FONT></TD>
<TD width="102" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">6,055,964&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="20">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Receivable for stock purchase</FONT></TD>
<TD width="127" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(119,355)</FONT></TD>
<TD width="102" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(125,604)</FONT></TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="20">
  </TD>
<TD width="127" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70">
  </TD>
<TD width="102" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Total shareholders' equity
</FONT></TD>
<TD width="127" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">6,362,162&nbsp;</FONT></TD>
<TD width="102" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">5,930,360&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="19">
<P>&nbsp;</TD>
<TD width="127" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70">
  </TD>
<TD width="102" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Total liabilities and shareholders' equity
</FONT></TD>
<TD width="127" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp; 16,330,241&nbsp;</FONT></TD>
<TD width="102" VALIGN="TOP" align="right">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp; 16,422,636&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="453" VALIGN="TOP" height="20">

  </TD>
<TD width="127" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70" size="6">
  </TD>
<TD width="102" VALIGN="TOP" align="right">
<hr align="right" color="#000080" width="70" size="6">
  </TD>
</TR>
</TABLE>

</div>

<FONT FACE="Arial Narrow"><P ALIGN="left">See &quot;Notes to Consolidated
Financial Statements&quot;.</P>
<P ALIGN="CENTER">&nbsp;</P>
<hr align="right" color="#000080">
<P ALIGN="CENTER">&nbsp;</P>
<B><P ALIGN="CENTER">PRO-DEX, INC. AND SUBSIDIARIES</P>
<P ALIGN="CENTER"><a name="CONSOLIDATED STATEMENTS OF INCOME">CONSOLIDATED STATEMENTS OF INCOME</a></P></B></FONT>
<P ALIGN="CENTER">&nbsp;<CENTER>
<div align="left">
  <TABLE BORDER="0" CELLSPACING=1 WIDTH=700>
<TR><TD WIDTH="59%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="41%" VALIGN="TOP" COLSPAN=4>
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Quarter ended September 30,</FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER"><u>&nbsp;&nbsp;&nbsp;&nbsp; 2000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER"><u>&nbsp;&nbsp;&nbsp;&nbsp; 1999&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">(unaudited)</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">(unaudited)</FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P>Net sales
</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
  </TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp; 6,220,538&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
  </TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp; 5,126,163&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Cost of sales (Includes rent paid to a director of </FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $89,000 and $87,000 for 2000 and 1999)</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,689,863&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,397,149&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<hr align="right" color="#000080" width="70">
  </TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Gross profits</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,530,675&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,729,014&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<hr align="right" color="#000080" width="70">
  </TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Operating expenses:</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Selling
</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">816,789&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">764,452&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; General and administrative
</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,151,933&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">969,074&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Research and development
</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">467,506&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">434,970&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Amortization
</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">122,195&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">122,195&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">

  </TD>
<TD WIDTH="4%" VALIGN="TOP">
  </TD>
<TD WIDTH="17%" VALIGN="TOP">
<hr align="right" color="#000080" width="70">
  </TD>
<TD WIDTH="4%" VALIGN="TOP">
  </TD>
<TD WIDTH="17%" VALIGN="TOP">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Total operating expenses
</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,558,423&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,290,691&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<hr align="right" color="#000080" width="70">
  </TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P>Income from operations
</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">972,252&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">438,323&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<hr align="right" color="#000080" width="70">
  </TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P>Other income (expense):
</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP" HEIGHT=4>

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Other income (expense), net
</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=4><P></P></TD>
<TD WIDTH="17%" VALIGN="TOP" HEIGHT=4>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">19,914&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=4><P></P></TD>
<TD WIDTH="17%" VALIGN="TOP" HEIGHT=4>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(9,124)</FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Interest (expense)
</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(282,910)</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(201,282)</FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">

  </TD>
<TD WIDTH="4%" VALIGN="TOP">
  </TD>
<TD WIDTH="17%" VALIGN="TOP">
<hr align="right" color="#000080" width="70">
  </TD>
<TD WIDTH="4%" VALIGN="TOP">
  </TD>
<TD WIDTH="17%" VALIGN="TOP">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Total
</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(262,996)</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
</CENTER>

<TD WIDTH="17%" VALIGN="TOP">
  <p align="right">&nbsp;(210,406)</p>
</TD>
</TR>
  <CENTER>
<TR><TD WIDTH="59%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P>Income before income taxes
</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">709,256&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">227,917&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Income taxes</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">283,703&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">87,976&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<hr align="right" color="#000080" width="70">
  </TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Net income</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
  </TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425,553&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
  </TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139,941&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<hr align="right" color="#000080" width="70" size="6">
  </TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<hr align="right" color="#000080" width="70" size="6">
  </TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P>Earnings per common and common equivalent share:
</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Basic
</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
  </TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
0.05&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
  </TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
0.02&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Diluted
</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">0.05&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">0.02&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Weighted average number of common and<br>
&nbsp;&nbsp;&nbsp;&nbsp; common equivalent shares outstanding:</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Basic
</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">8,787,300&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">8,787,300&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP" HEIGHT=8>

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Diluted
</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=8><P></P></TD>
<TD WIDTH="17%" VALIGN="TOP" HEIGHT=8>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">8,971,802&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=8><P></P></TD>
<TD WIDTH="17%" VALIGN="TOP" HEIGHT=8>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">8,796,716&nbsp;</FONT></TD>
</TR>
</TABLE>
</div>
</CENTER>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">See &quot;Notes to Consolidated
Financial Statements&quot;.</P>

<B><P ALIGN="JUSTIFY">&nbsp;</P>
</B>
<hr align="right" color="#000080">
<P ALIGN="JUSTIFY">&nbsp;</P>
<B><P ALIGN="CENTER">PRO-DEX, INC. AND SUBSIDIARIES </P>
<P ALIGN="CENTER"><a name="CONSOLIDATED STATEMENTS OF CASH FLOWS">CONSOLIDATED STATEMENTS OF CASH FLOWS</a></P></B></FONT>
<div align="left">
<TABLE BORDER="0" CELLSPACING=1 WIDTH=700>
<TR><TD VALIGN="TOP" COLSPAN=5 height="20">
<P ALIGN="RIGHT"><FONT FACE="Arial Narrow">Quarter ended September 30,</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER"><u>&nbsp;&nbsp;&nbsp;&nbsp; 2000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
&nbsp;&nbsp;&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER"><u>&nbsp;&nbsp;&nbsp; 1999&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">(unaudited)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" height="20">
<FONT FACE="Arial Narrow"><P align="center">(unaudited)</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">
<FONT FACE="Arial Narrow"><P>CASH FLOWS FROM OPERATING ACTIVITIES</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Net income
</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
  </TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P>$&nbsp;&nbsp;&nbsp;&nbsp; 425,553&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
  </TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp; 139,941&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Adjustments to reconcile net income to net<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; cash provided by operating activities:
</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Depreciation and amortization
</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P>293,310&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">283,042&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Provision for doubtful accounts
</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P>1,321&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">31,308&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Non-cash compensation</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P>6,249&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">0&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Deferred taxes</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P>283,704&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">87,976&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Change in working capital components net of effects
</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
of purchases and divestitures: </FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Decrease in accounts receivable
</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P>591,915&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">273,258&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(Increase) in inventories</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P>(676,188)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(189,566)</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(Increase) in prepaid expenses</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P>(392,428)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(136,385)</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Decrease in other assets
</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P>14,858&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">9,229&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(Decrease) in accounts payable<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
and accrued expense
</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P><br>
(150,573)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT"><br>
(313,030)</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Increase in income taxes payable
</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P>14,898&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">0&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="17">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP" height="17">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="17">
<hr align="right" color="#000080" width="70">
  </TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="17">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="17">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Net cash provided by operating activities
</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P>412,619&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">185,773&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="19">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP" height="19">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="19">
<hr align="right" color="#000080" width="70">
  </TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="19">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="19">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">
<FONT FACE="Arial Narrow"><P>CASH FLOWS FROM INVESTING ACTIVITIES</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Purchase of property and equipment
</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P>(39,894)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(36,080)</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="19">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP" height="19">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="19">
<hr align="right" color="#000080" width="70">
  </TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="19">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="19">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Net cash flows (used in) investing activities
</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P>(39,894)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(36,080)</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="19">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP" height="19">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="19">
<hr align="right" color="#000080" width="70">
  </TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="19">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="19">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">
<FONT FACE="Arial Narrow"><P>CASH FLOWS FROM FINANCING ACTIVITIES</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from short-term borrowing
</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P>114,793&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">0&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Principal payments on long-term borrowing
</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P>(503,315)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(256,731)</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="19">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP" height="19">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="19">
<hr align="right" color="#000080" width="70">
  </TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="19">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="19">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Net cash flows (used in) financing activities
</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P>(388,522)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(256,731)</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="19">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP" height="19">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="19">
<hr align="right" color="#000080" width="70">
  </TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="19">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="19">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">
<FONT FACE="Arial Narrow"><P>NET (DECREASE) IN CASH AND CASH EQUIVALENTS</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P>(15,797)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(107,038)</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">
<FONT FACE="Arial Narrow"><P>Cash and cash equivalents, beginning of period</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P>473,188&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">107,038&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">
  </TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
  </TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<hr align="right" color="#000080" width="70">
  </TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
  </TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<hr align="right" color="#000080" width="70">
  </TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">
<FONT FACE="Arial Narrow"><P>Cash and cash equivalents, end of period</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
  </TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P>$&nbsp;&nbsp;&nbsp;&nbsp; 457,391&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
  </TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
0&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="19">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP" height="19">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="19">
<hr align="right" color="#000080" width="70" size="6">
  </TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="19">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="19">
<hr align="right" color="#000080" width="70" size="6">
  </TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">
<FONT FACE="Arial Narrow"><P>SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Cash payments for interest
</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
  </TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp; 282,910&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
  </TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp; 201,282&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP" height="20">

<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp; Cash payments for income taxes
</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="20">
  </TD>
<TD WIDTH="14%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
26,010&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" align="right" height="20">
  </TD>
<TD WIDTH="13%" VALIGN="TOP" align="right" height="20">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
0&nbsp;</FONT></TD>
</TR>
</TABLE>

</div>

<FONT FACE="Arial Narrow"><P ALIGN="left">See &quot;Notes to Consolidated
Financial Statements&quot;. </P>

<B><P ALIGN="CENTER">&nbsp; </P>
<hr align="right" color="#000080">
<P ALIGN="CENTER">&nbsp; </P>
<P ALIGN="CENTER">PRO-DEX, INC. AND SUBSIDIARIES </P>
<P ALIGN="CENTER"><a name="NOTES TO CONSOLIDATED FINANCIAL STATEMENTS">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS<br>
</a>For Quarter Ended September 30, 2000</P>
<P ALIGN="JUSTIFY">BASIS OF PRESENTATION</P>
</B><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instruction to Form
10-QSB and Regulation S-B. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal
recurring accruals) considered necessary for a fair presentation have been included. Operating results for the quarter ended September 30, 2000 are not necessarily indicative of the results that may be expected for the year ended June 30, 2001. For
further information, refer to the consolidated financial statements and footnotes thereto included in the Company's annual report on Form 10-KSB for the year ended June 30, 2000.</P>
<B><P ALIGN="JUSTIFY">INVENTORIES</P>
</B><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories are stated at the lower of cost (the first-in, first-out method) or market and consist of the following:</P>
<P ALIGN="RIGHT">&#9;</P></FONT>
<div align="left">
<TABLE BORDER="0" CELLSPACING=1 WIDTH=615>
<TR><TD WIDTH="294" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="150" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">2000</FONT></TD>
<TD WIDTH="151" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">1999</FONT></TD>
</TR>
<TR><TD WIDTH="294" VALIGN="TOP">
  </TD>
<TD WIDTH="307" VALIGN="TOP" colspan="2">
<hr color="#000080">
  </TD>
</TR>
<TR><TD WIDTH="294" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Raw materials</FONT></TD>
<TD WIDTH="150" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp; 1,515,402&nbsp;</FONT></TD>
<TD WIDTH="151" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp; 975,491&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="294" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Work in process</FONT></TD>
<TD WIDTH="150" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">479,008&nbsp;</FONT></TD>
<TD WIDTH="151" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">453,645&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="294" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Finished goods</FONT></TD>
<TD WIDTH="150" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,491,247&nbsp;</FONT></TD>
<TD WIDTH="151" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,400,133&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="294" VALIGN="TOP">
  </TD>
<TD WIDTH="307" VALIGN="TOP" colspan="2">
<hr color="#000080">
  </TD>
</TR>
<TR><TD WIDTH="294" VALIGN="TOP" HEIGHT=17>
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp; Total</FONT></TD>
<TD WIDTH="150" VALIGN="TOP" HEIGHT=17>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">5,485,657&nbsp;</FONT></TD>
<TD WIDTH="151" VALIGN="TOP" HEIGHT=17>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">4,829,269&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="294" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Reserve for slow moving items</FONT></TD>
<TD WIDTH="150" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(563,112)</FONT></TD>
<TD WIDTH="151" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(582,912)</FONT></TD>
</TR>
<TR><TD WIDTH="294" VALIGN="TOP">
  </TD>
<TD WIDTH="307" VALIGN="TOP" colspan="2">
<hr color="#000080">
  </TD>
</TR>
<TR><TD WIDTH="294" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp; Total inventories, net</FONT></TD>
<TD WIDTH="150" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp; 4,922,545&nbsp;</FONT></TD>
<TD WIDTH="151" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp; 4,246,357&nbsp;</FONT></TD>
</TR>
</TABLE>

</div>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&#9;</P>
<B><P ALIGN="JUSTIFY">EARNINGS PER SHARE</P>
</B><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; The Financial Accounting Standards board has issued Statement No. 128, "Earnings per Share" which supercedes APB Opinion No. 15. Statement No. 128 requires the presentation of basic and diluted earnings per share
amounts. Diluted per share amounts assume the conversion, exercise or issuance of all potential common stock instruments unless the effect is to reduce a loss or increase the income per common share from continuing operations. No adjustments to net income
were made for purposes of computing basic or diluted earnings per share.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The weighted-average number of common shares and common share equivalents outstanding during the year used to compute basic and diluted earnings per common share is as follows:</P>
<P ALIGN="JUSTIFY">&#9;</P></FONT>
<TABLE BORDER="0" CELLSPACING=1 WIDTH=700>
<TR><TD WIDTH="58%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="20%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">2000</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">1999</FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<P ALIGN="JUSTIFY"></TD>
<TD WIDTH="42%" VALIGN="TOP" colspan="2">
<hr color="#000080">
  </TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Weighted-average common shares used in computation<br>
&nbsp;&nbsp;&nbsp; of basic earnings per share
</FONT></TD>
<TD WIDTH="20%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT"><br>
8,787,300</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT"><br>
8,787,300</FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="20%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="22%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Effect of dilutive securities:
</FONT></TD>
<TD WIDTH="20%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="22%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp; Common stock options and warrants
</FONT></TD>
<TD WIDTH="20%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">106,373</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">9,416</FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp; Convertible preferred stock
</FONT></TD>
<TD WIDTH="20%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">78,129</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="42%" VALIGN="TOP" colspan="2">
<hr color="#000080">
  </TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Weighted-average common and common share equivalents<br>
&nbsp;&nbsp;&nbsp;&nbsp; used in the computation of diluted earnings per share
</FONT></TD>
<TD WIDTH="20%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT"><br>
8,971,802</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT"><br>
8,796,716</FONT></TD>
</TR>
</TABLE>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;</P>
<hr align="right" color="#000080">
<P ALIGN="JUSTIFY">&nbsp;</P>
<B><P ALIGN="JUSTIFY">LONG TERM DEBT</P>
</B><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; The Company's credit facility with Harris Bank was terminated by the bank in July, 1999 as a result of various loan covenant violations. The entire obligation to the bank consisting of a $2.6 million balance on a
term loan, and a revolving line of credit with a balance of $4 million is shown as currently due. The Company has been unable to borrow any additional funds under either facility since July 1999, and has been operating under a series of forbearance
agreements provided by Harris Bank. The new forbearance agreement expires on February 28, 2001, and requires monthly principal payments of $125,000 plus an additional payment calculated monthly as a percentage of excess cash flow. Both credit facilities
require monthly interest payments at the prime rate plus 2% (11.5% at September 30, 2000.) The Company continues to meet all of the covenant requirements contained in the forbearance agreement and all fees have been paid.</P>
<B><P ALIGN="JUSTIFY">STOCK OPTIONS</P>
</B><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; During the quarter ended September 30, 2000, the Company granted 15,000 stock options to employees at the average price of $2.12. </P>
<B><P>SEGMENT INFORMATION </P>
</B><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; The Company's reportable segments are strategic business units that offer different products and services. They are managed separately because each business requires different technology and marketing strategies.
</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; There are five reportable segments: Biotrol International, Inc. (Biotrol), Challenge Products, Inc. (Challenge), Micro Motors, Inc. (Micro), Oregon Micro Systems, Inc. (OMS), and the parent company (Corporate).
Biotrol manufactures and distributes infection control products, and distributes preventive products, tooth brightening systems and a full line of hand care products for the dental industry. Challenge manufactures fluoride and related products for
preventive dentistry, as well as cosmetic bleaching materials for professional application and home when dispensed by the dentist. Micro manufactures a complete line of handpieces for the dental industry, and miniature pneumatic motors with dental,
medical and industrial applications. OMS designs and manufactures motion controllers used to control the motion of servo and stepper motors, predominantly for the medical analysis equipment and semiconductor industries. </P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; The accounting policies applied to determine the segment information are the same as those described in the summary of significant accounting policies. Interest expense is allocated based upon the specific
identification of debt incurred by the individual segment. Corporate overhead and the provision for income taxes are not allocated to the individual reported segments. Inter-segment sales and transfers are accounted for at amounts that management believes
provides the transferring segment with fair compensation for the products transferred, considering their condition, market demand, and, where appropriate, a reasonable profit that recognized which segment will be responsible for marketing costs.
Management evaluates the performance of each segment based on income (loss) before income taxes.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; Financial information with respect to the reportable segments follows (in thousands):</P></FONT>
<div align="left">
<TABLE BORDER="0" CELLSPACING=1 WIDTH=700>
<TR><TD WIDTH="33%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT FACE="Arial Narrow">&nbsp;<br>
<br>
2000</FONT></P>
  </TD>
<TD VALIGN="top">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">&nbsp;<br>
<br>
Biotrol</FONT></P>
  </TD>
<TD WIDTH="11%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">&nbsp;<br>
<br>
Challenge</FONT></P>
  </TD>
<TD WIDTH="11%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">&nbsp;<br>
Micro<br>
Motors</FONT></P>
  </TD>
<TD WIDTH="12%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P ALIGN="center">&nbsp;Oregon<br>
Micro<br>
Systems</FONT></P></TD>
<TD WIDTH="10%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">&nbsp;<br>
<br>
Corp.</FONT></P>
  </TD>
<TD WIDTH="10%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">&nbsp;<br>
<br>
Total
</FONT></P>

  </TD>
</TR>
<TR><TD WIDTH="98%" VALIGN="TOP" HEIGHT=10 colspan="7">
    <hr color="#000080">
  </TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Sales from external customers</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp; 1,723</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp; 265&nbsp;</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp; 1,752&nbsp;</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp; 2,481</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--&nbsp;</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$ 6,221</FONT></TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="12%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Intersegment sales</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">310&nbsp;</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">78&nbsp;</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--&nbsp;</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">388</FONT></TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="12%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Segment profit (loss)</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">184</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(2)</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(298)</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,309</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(767)</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">426</FONT></TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="12%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Segment assets</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,387</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,442&nbsp;</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">6,432&nbsp;</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,521</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,548&nbsp;</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">16,330</FONT></TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="12%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Expenditure for segment assets</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">8</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">12&nbsp;</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">0&nbsp;</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">15</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">5</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">40</FONT></TD>
</TR>
</TABLE>

</div>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;</P>
<hr align="right" color="#000080">
<P ALIGN="JUSTIFY">&nbsp;</P></FONT>
<TABLE BORDER="0" CELLSPACING=1 WIDTH=720>
<TR><TD WIDTH="230" VALIGN="TOP">
<P ALIGN="CENTER"><FONT FACE="Arial Narrow"><br>
<br>
&nbsp;1999</FONT></P>
  </TD>
<TD WIDTH="73" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">&nbsp;<br>
<br>
Biotrol</FONT></P>
  </TD>
<TD WIDTH="72" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">&nbsp;<br>
<br>
Challenge</FONT></P>
  </TD>
<TD WIDTH="72" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">&nbsp;<br>
Micro<br>
Motors</FONT></P>
  </TD>
<TD WIDTH="79" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P ALIGN="center">&nbsp;Oregon<br>
Micro<br>
Systems</FONT></P></TD>
<TD WIDTH="65" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER"><br>
<br>
&nbsp;Corp.</FONT></P>
  </TD>
<TD WIDTH="85" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER"><br>
<br>
&nbsp;Total</FONT></P>
  </TD>
</TR>
<TR><TD WIDTH="712" VALIGN="TOP" HEIGHT=10 colspan="7">
    <hr color="#000080">
  </TD>
</TR>
<TR><TD WIDTH="230" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Sales from external customers</FONT></TD>
<TD WIDTH="73" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp; 1,931</FONT></TD>
<TD WIDTH="72" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp; 206&nbsp;</FONT></TD>
<TD WIDTH="72" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp; 1,460&nbsp;</FONT></TD>
<TD WIDTH="79" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp; 1,529</FONT></TD>
<TD WIDTH="65" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--&nbsp;</FONT></TD>
<TD WIDTH="85" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp; 5,126</FONT></TD>
</TR>
<TR><TD WIDTH="230" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="73" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="72" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="72" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="79" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="65" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="85" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="230" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Intersegment sales</FONT></TD>
<TD WIDTH="73" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--</FONT></TD>
<TD WIDTH="72" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">225&nbsp;</FONT></TD>
<TD WIDTH="72" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">77&nbsp;</FONT></TD>
<TD WIDTH="79" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--</FONT></TD>
<TD WIDTH="65" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--&nbsp;</FONT></TD>
<TD WIDTH="85" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">302</FONT></TD>
</TR>
<TR><TD WIDTH="230" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="73" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="72" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="72" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="79" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="65" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="85" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="230" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Segment profit (loss)</FONT></TD>
<TD WIDTH="73" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">306</FONT></TD>
<TD WIDTH="72" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(30)</FONT></TD>
<TD WIDTH="72" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(336)</FONT></TD>
<TD WIDTH="79" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">622</FONT></TD>
<TD WIDTH="65" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(422)</FONT></TD>
<TD WIDTH="85" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">140</FONT></TD>
</TR>
<TR><TD WIDTH="230" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="73" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="72" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="72" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="79" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="65" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="85" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="230" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Segment assets</FONT></TD>
<TD WIDTH="73" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,343</FONT></TD>
<TD WIDTH="72" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,493&nbsp;</FONT></TD>
<TD WIDTH="72" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">7,219&nbsp;</FONT></TD>
<TD WIDTH="79" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,931</FONT></TD>
<TD WIDTH="65" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,288&nbsp;</FONT></TD>
<TD WIDTH="85" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">17,274</FONT></TD>
</TR>
<TR><TD WIDTH="230" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="73" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="72" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="72" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="79" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="65" VALIGN="TOP" HEIGHT=16><P></P></TD>
<TD WIDTH="85" VALIGN="TOP" HEIGHT=16><P></P></TD>
</TR>
<TR><TD WIDTH="230" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Expenditure for segment assets</FONT></TD>
<TD WIDTH="73" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2</FONT></TD>
<TD WIDTH="72" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">26&nbsp;</FONT></TD>
<TD WIDTH="72" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P align="right">1</FONT></TD>
<TD WIDTH="79" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">7</FONT></TD>
<TD WIDTH="65" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">0&nbsp;</FONT></TD>
<TD WIDTH="85" VALIGN="TOP" HEIGHT=16>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">36</FONT></TD>
</TR>
</TABLE>

<B><FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp; </P>
<P ALIGN="JUSTIFY"><a name="Item 2. Management's Discussion and Analysis">Item 2.
Management's Discussion and Analysis</a> </P>
<P ALIGN="JUSTIFY">Results of Operations</P>
</B><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; Forward Looking Statements. All forward looking statements in the following discussion of management's analysis of results of operation, liquidity and capital requirements, and the possible effect of inflation,
as well as elsewhere in the Company's assumptions regarding factors such as (1) market acceptance of the products of each subsidiary, including brand and name recognition for quality and value in each of the Company's subsidiaries' markets, (2) existence,
scope, defensibility and non-infringement of patents, trade-secrets and other trade rights, (3) each subsidiary's relative success in achieving and maintaining technical parity or superiority with competitors, (4) interest rates for domestic and
Eurofunds, (5) the relative success of each subsidiary in attracting and retaining technical and sales personnel with the requisite skills to develop, manufacture and market the Company's products, (6) the non-occurrence of general economic downturns or
downturns in any of the Company's market regions or industries (such as dental products and tools or computer chip manufacturers), (7) the relative competitiveness of products manufactured by the Company's facilities, including any contractors in the
global economy, (8) the non-occurrence of natural disasters, (9) a stable regulatory environment in areas of significance to each of the Company's subsidiaries, (10) the Company's success in managing its regulatory relations and avoiding any adverse
determinations, (11) the availability of talented senior executives for the parent and each of the subsidiaries, (12) other factors affecting the sales and profitability of the Company in each of its markets. Should any of the foregoing assumptions or
other assumptions not listed fail to be realized, the forward-looking statements herein may be inaccurate. In making forward looking statements in this and other Sections of the Company's report on Form 10-QSB, the Company relies upon recently promulgated
policies of the Securities and Exchange Commission and statutory provisions, including Section 21E of the Securities Exchange Act of 1934, which provide a safe-harbor for forward looking statements.</P>
<B><P ALIGN="JUSTIFY">Results of Operations for the Quarter Ended September 30, 2000 Compared to the Quarter Ended September 30, 1999.</P>
</B><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; On November 8, 2000, the Registrant announced it had reached an agreement in principal whereby DENTSPLY International, Inc. (NASDAQ: XRAY) will acquire all of the issued and outstanding shares of Pro-Dex, Inc.
The agreement in principal provides that each share of Pro-Dex will be exchanged, at the completion of the transaction, for .091 shares of DENTSPLY. The transaction, expected to be completed in the first quarter of 2001, is subject to due diligence by the
parties, regulatory approval, approval by the Pro-Dex shareholders and DENTSPLY's Board of Directors, completion of a definitive agreement, and other customary closing conditions. </P>
<hr align="right" color="#000080">
<P ALIGN="JUSTIFY">&nbsp; </P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; On November 1, 2000, the Registrant announced that its Challenge Products division will be integrated with Pro-Dex's Biotrol International division. The Challenge Products division will continue to operate as an
independent division, but will move all of its operations to the Biotrol facility in Louisville, Colorado.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; Net sales by subsidiary follows:</P></FONT>
<TABLE BORDER="0" CELLSPACING=1 WIDTH=700>
<TR><TD WIDTH="45%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER"><br>
<u>&nbsp;&nbsp;&nbsp;&nbsp; 2000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER"><br>
<u>&nbsp;&nbsp;&nbsp;&nbsp; 1999&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Increase/<BR>
<u>&nbsp; (Decrease)&nbsp;&nbsp;</u></FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Biotrol</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp; 1,722,933&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp; 1,930,933&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp; (208,000)</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Challenge</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">574,773&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">431,510&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">143,263&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Micro Motors</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,829,475&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,536,776&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">292,699&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Oregon Micro Systems</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,481,176&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,529,346&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">951,830&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>(Inter-company sales)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(387,819)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(302,402)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(85,417)</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
  </TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<hr color="#000080" align="right" width="80%">
  </TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<hr color="#000080" align="right" width="80%">
  </TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<hr color="#000080" align="right" width="80%">
  </TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp; 6,220,538&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp; 5,126,163&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp; 1,094,375&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
  </TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<hr color="#000080" align="right" width="80%" size="4">
  </TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<hr color="#000080" align="right" width="80%" size="4">
  </TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<hr color="#000080" align="right" width="80%" size="4">
  </TD>
</TR>
</TABLE>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; Consolidated sales increased 21.3% for the quarter ended September 30, 2000, over the quarter ended September 30, 1999, primarily due to an increase in unit sales. At Biotrol, sales for the
quarter ended September 30, 2000 decreased 10.8%, compared to the same quarter in the previous year mainly due to a decision to eliminate certain lower margin, non-consumable, products. Sales for the quarter at Challenge increased 33.2% for the quarter
ended September 30, 2000 compared to the same quarter in the previous year. Inter-company sales to Biotrol increased 37.7% for the quarter. Private label and OEM sales at Challenge increased 28.3% to $264,780 for quarter ended September 30, 2000 compared
to $206,315 for quarter ended September 30, 1999. At Micro Motors, sales increased 19% for the quarter ended September 30, 2000 compared to the quarter ended September 30, 1999. Sales to private label and OEM customers increased 20% to $1,751,649 for the
quarter ended September 30, 1999 compared to $1,459,569 the same quarter in the previous year. The increase is mainly attributable to sales of the new electric controller developed in the previous year from a substantial research and development effort.
Revenue at Oregon Micro Systems increased 62.2% for the quarter ended September 30, 2000 compared to the previous year's same quarter. Revenue at OMS continues to be strong due to the current up cycle in the semiconductor industry. Revenue has also
increased due to the addition of several high tech distributors to the OMS customer base.</P>
<P>&nbsp;&nbsp;&nbsp; Gross profits by subsidiary follows:</P></FONT>
<TABLE BORDER="0" CELLSPACING=1 WIDTH=700>
<TR><TD WIDTH="245" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="19" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="119" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER"><br>
<u>&nbsp;&nbsp;&nbsp;&nbsp; 2000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
<TD WIDTH="23" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="110" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER"><br>
<u>&nbsp;&nbsp;&nbsp;&nbsp; 1999&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
<TD WIDTH="18" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="122" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Increase/<BR>
<u>&nbsp; (Decrease)&nbsp;&nbsp;</u></FONT></TD>
</TR>
<TR><TD WIDTH="245" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P>Biotrol
</FONT></TD>
<TD WIDTH="19" VALIGN="TOP">
  </TD>
<TD WIDTH="119" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp; 971,256</FONT></TD>
<TD WIDTH="23" VALIGN="TOP">
  </TD>
<TD WIDTH="110" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp; 1,001,440</FONT></TD>
<TD WIDTH="18" VALIGN="TOP">
  </TD>
<TD WIDTH="122" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp; (30,184)</FONT></TD>
</TR>
<TR><TD WIDTH="245" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P>Challenge
</FONT></TD>
<TD WIDTH="19" VALIGN="TOP">
  </TD>
<TD WIDTH="119" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">135,701</FONT></TD>
<TD WIDTH="23" VALIGN="TOP">
  </TD>
<TD WIDTH="110" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">102,406</FONT></TD>
<TD WIDTH="18" VALIGN="TOP">
  </TD>
<TD WIDTH="122" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">33,295&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="245" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P>Micro Motors
</FONT></TD>
<TD WIDTH="19" VALIGN="TOP">
  </TD>
<TD WIDTH="119" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">565,385</FONT></TD>
<TD WIDTH="23" VALIGN="TOP">
  </TD>
<TD WIDTH="110" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">480,014</FONT></TD>
<TD WIDTH="18" VALIGN="TOP">
  </TD>
<TD WIDTH="122" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">85,371&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="245" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P>Oregon Micro Systems
</FONT></TD>
<TD WIDTH="19" VALIGN="TOP">
  </TD>
<TD WIDTH="119" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,858,333</FONT></TD>
<TD WIDTH="23" VALIGN="TOP">
  </TD>
<TD WIDTH="110" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,145,154</FONT></TD>
<TD WIDTH="18" VALIGN="TOP">
  </TD>
<TD WIDTH="122" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">713,179&nbsp;</FONT></TD>
</TR>
<tr>
  <TD WIDTH="45%" VALIGN="TOP">
  </TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<hr color="#000080" align="right" width="80%">
  </TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<hr color="#000080" align="right" width="80%">
  </TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<hr color="#000080" align="right" width="80%">
  </TD>
</tr>
<tr>
  <TD WIDTH="245" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="19" VALIGN="TOP" HEIGHT=19>
  </TD>
<TD WIDTH="119" VALIGN="TOP" HEIGHT=19>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp; 3,530,675</FONT></TD>
<TD WIDTH="23" VALIGN="TOP" HEIGHT=19>
  </TD>
<TD WIDTH="110" VALIGN="TOP" HEIGHT=19>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp; 2,729,014</FONT></TD>
<TD WIDTH="18" VALIGN="TOP" HEIGHT=19>
  </TD>
<TD WIDTH="122" VALIGN="TOP" HEIGHT=19>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp; 801,661&nbsp;</FONT></TD>
</tr>
<tr>
  <TD WIDTH="45%" VALIGN="TOP">
  </TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<hr color="#000080" align="right" width="80%" size="4">
  </TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<hr color="#000080" align="right" width="80%" size="4">
  </TD>
<TD WIDTH="3%" VALIGN="TOP">
  </TD>
<TD WIDTH="15%" VALIGN="TOP">
<hr color="#000080" align="right" width="80%" size="4">
  </TD>
</tr>
</TABLE>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; The Company's consolidated gross profit for the quarter ended September 30, 2000 increased 29.4% over the same quarter in the previous year mainly due to the increased revenue at OMS. Gross
profit as a percentage of sales increased to 56.8% for the quarter ended September 30, 2000 compared to 53.2% for the quarter ended September 30, 1999. The increase is also due to the strong sales of higher margin products at OMS. Gross profit at Biotrol
increased to 56.4% for the quarter ended September 30, 2000 compared to 51.9% for the same quarter in the previous year, due to the shift in sales of higher margin products, and the decision to eliminate sales representation of lower margin products.
Consolidated gross profit dollars increased $801,661 primarily due to the increase in sales and gross profits at OMS.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; Operating expenses increased to $2,558,423 for the quarter ended September 30, 2000 from $2,290,691 for the quarter ended September 30, 1999, an increase of 11.7%. The increase in operating expense was mainly due to
additional salary and personnel necessary to support increased revenue.</P>
<hr align="right" color="#000080">
<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; Operating income increased to $972,252 for the fiscal quarter ended September 30, 2000 compared to operating income of $438,323 for the same fiscal quarter of the previous year, an increase of 121.8%. Increased
revenue and gross profit mainly contributed to the increase. </P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; Net interest expense increased $81,628 in the first quarter of fiscal 2001 partially due to an increase of 2% in the interest rate charged by the bank. The bank also charged the Company a one-half point fee of
$33,698 to extend the forbearance agreement to February 28, 2001.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; Net income increased to $425,553, $.05 per share, for the quarter ended September 30, 2000 compared to $139,941, $.02 per share, for the same quarter in the previous year. </P>
<B><P ALIGN="JUSTIFY">Liquidity and Capital Resources</P>
</B><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; The operations of the Company are conducted primarily through its four wholly owned subsidiaries. The Company is currently unable to borrow funds from its existing credit facility with Harris Bank. In addition,
it is required to present the entire obligation of $6.6 million to the bank as a current liability. Consequently, working capital on September 30, 2000 is only $204,000. The Company's EBITDA (earnings before interest, taxes, depreciation, and
amortization) for the quarter ended September 30, 2000 was $1,265,562 enabling it to finance current operations and retire $503,000 of bank debt. This was offset by net borrowings on a short term note for the payment of insurance of $115,000. During the
quarter, the company generated $413,000 from operations. $40,000 was used to purchase property and equipment and a net $389,000 was used to pay outstanding debt.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; The Company's credit facility with Harris Bank was terminated by the bank in July, 1999, as a result of various covenant violations. Since then the Company has been operating under a series of forbearance agreements
provided by the bank. The most recent forbearance agreement expires on February 28, 2001 under terms that obligate the Company to make principal payments of $125,000 per month plus an additional payment calculated monthly as a percentage of excess cash
flow. The Company continues to meet all of the covenant requirements contained in the new forbearance agreement. </P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; On 8 November 2000, the Registrant announced it had reached an agreement in principal whereby DENTSPLY International, Inc. (NASDAQ: XRAY) will acquire all of the issued and outstanding shares of Pro-Dex, Inc. The
agreement in principal provides that each share of Pro-Dex will be exchanged, at the completion of the transaction, for .091 shares of DENTSPLY. The transaction, expected to be completed in the first quarter of 2001, is subject to due diligence by the
parties, regulatory approval, approval by the Pro-Dex shareholders and DENTSPLY's Board of Directors, completion of a definitive agreement, and other customary closing conditions. The transaction will enable the Company to satisfy its obligation to Harris
Bank.</P>
<B><P ALIGN="JUSTIFY">Impact of Inflation and Changing Prices</P>
</B><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; The industries in which the Company competes are labor intensive, often involving personnel with high level technical or sales skills. Wages and other expenses increase during periods of inflation and when
shortages in the marketplace occur. The Company expects its subsidiaries to face somewhat higher labor costs, as the market for personnel with the skills sought by the Company becomes tighter in a period of full employment. In addition, suppliers pass
along rising costs to the Company's subsidiaries in the form of higher prices. Further, the Company's credit facility with Harris Bank involves increased costs if domestic interest rates rise or there are other adverse changes in the international
interest rates, exchange rates, and/or Eurocredit availability. To some extent, the Company's subsidiaries have been able to offset increases in operating costs by increasing charges, expanding services and implementing cost control measures.
Nevertheless, each of the Company's subsidiaries' ability to increase prices is limited by market conditions, including international competition in many of the Company's markets.</P>
<hr align="right" color="#000080">
<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; The nature of the foregoing discussion requires the use of forward looking statements that involve assumptions, risks, and uncertainties that could cause outcomes to be substantially different from those projected.</P>

<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; In accordance with the requirements of the Exchange Act, the registrant caused this report to be
<a name="signed"> signed</a> on its behalf by the undersigned, thereunto duly authorized.</P>
<P ALIGN="JUSTIFY">&nbsp;</P></FONT>
<TABLE BORDER="0" CELLSPACING=1 WIDTH=700>
<TR><TD WIDTH="31%" VALIGN="TOP">
<P ALIGN="JUSTIFY"><FONT FACE="Arial Narrow">Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; November 10, 2000</FONT></TD>
<TD WIDTH="19%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="39%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">/s/ Kent E. Searl</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="19%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="50%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">_______________________________</FONT></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="19%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="39%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Kent E. Searl, Chairman</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="19%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="39%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Date: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;November 10, 2000</FONT></TD>
<TD WIDTH="19%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="39%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">/s/ George J. Isaac</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="19%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="39%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>______________________________</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="19%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="39%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>George J. Isaac, Chief Financial Officer</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
</TABLE>

<FONT FACE="Arial Narrow"><P ALIGN="CENTER">&nbsp;</P>
<hr align="right" color="#000080">
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P>
<B><P ALIGN="CENTER">PRO-DEX, INC. AND SUBSIDIARIES</P>
<P ALIGN="CENTER"><a name="EXHIBIT INDEX">EXHIBIT INDEX</a></P></B></FONT>
<TABLE BORDER="0" CELLSPACING=1 WIDTH=700>
<TR><TD WIDTH="13%" VALIGN="TOP">
<P><B><FONT FACE="Arial Narrow">Exhibit No.</B></FONT></TD>
<TD WIDTH="66%" VALIGN="TOP">
<B><FONT FACE="Arial Narrow"><P ALIGN="CENTER">Document</B></FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP" align="center">
<FONT FACE="Arial Narrow"><P>3.1</FONT></TD>
<TD WIDTH="66%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Articles of Incorporation (incorporated herein by reference to Exhibit 3.1 to Pro-Dex, Inc. Registration Statement No. 33-74397.)</FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP" align="center">
<FONT FACE="Arial Narrow"><P>3.2</FONT></TD>
<TD WIDTH="66%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Bylaws of the Company (incorporated herein by reference to Exhibit 3.2 to Pro-Dex, Inc. Registration Statement No. 33-74397.)</FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP" align="center">
<FONT FACE="Arial Narrow"><P>4.1</FONT></TD>
<TD WIDTH="66%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Specimen Stock Certificate of the Company (incorporated herein by
reference to Exhibits of Pro-Dex, Inc. Registration Statement No. 33-74397.)</FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP" align="center">
<FONT FACE="Arial Narrow"><P>10.27</FONT></TD>
<TD WIDTH="66%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Forbearance Agreement with Harris Bank dated September 28, 2000.</FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP" align="center">
<FONT FACE="Arial Narrow"><P>27.00</FONT></TD>
<TD WIDTH="66%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Financial Data Schedule</FONT></TD>
</TR>
</TABLE>

<FONT FACE="Arial Narrow"><P ALIGN="CENTER">&nbsp;</P>
<B><P>&nbsp;</P></B></FONT></BODY>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.27
<SEQUENCE>3
<FILENAME>ex1027.htm
<DESCRIPTION>EXHIBIT 10.27
<TEXT>

<HTML>
<HEAD>
<TITLE>EX-10.27</TITLE>
</HEAD>
<BODY>

<B><FONT FACE="Times,Times New Roman"><P ALIGN="CENTER">Reinstatement of Forbearance Agreement</P>
</B><P>Mr. George J. Isaac<BR>
Vice President and CFO<BR>
Pro-Dex, Inc.<BR>
650 S. Taylor Avenue, Suite 20A<BR>
Louisville, Colorado  80027</P>

<P align="center">Re:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Continued default by Pro-Dex, Inc. (the <I>"Company"</I>) and request<BR>
for reinstatement and extension of forbearance under that certain<BR>
Credit Agreement dated as of July&nbsp;24, 1996 as previously<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;
</u><u>amended (the <I>"Credit Agreement"</I>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</u>
</P>

<P ALIGN="JUSTIFY">Dear George:</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As you know, the Company has still not repaid the Loans and the other Obligations that matured about nine months ago on December&nbsp;31, 1999 under the Credit Agreement.  We previously had
agreed to forbear from enforcing collection of the overdue Loans and other Obligations under our December&nbsp;30, 1999 Forbearance Agreement with the Company and its Subsidiaries.  At the Company's request, we extended that forbearance four times by a
series of Extension Agreements dated February&nbsp;2, 2000, March&nbsp;7, 2000, April&nbsp;5, 2000 and May&nbsp;8, 2000 (such Forbearance Agreement, as extended by those Extension Agreements, being hereinafter referred to as the <I>"Forbearance Agreement"</I>).  We notified the Company in a letter dated June&nbsp;30, 2000 (the <I>"Standstill Termination Letter"</I>) that a Standstill Termination under the Forbearance Agreement had occurred by virtue of the Company's failure to
comply with provisions of the May&nbsp;8, 2000 Extension Agreement.  Even ignoring this noncompliance, the forbearance arrangements contemplated by the Forbearance Agreement expired on July&nbsp;31<SUP>st</SUP> of this year.  For convenience, terms defined in the Forbearance Agreement are used herein with the same meanings.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company has informed us that it continues to attempt to close a transaction (perhaps a refinancing or sale) that will result in repayment in full of the Obligations and in that connection,
has again requested that this Bank reinstate the forbearance and extend the duration of the Forbearance Agreement -- this time until February&nbsp;28, 2001 -- during which time the Company will attempt to close this transaction.  The Bank is willing to
accommodate the Company's request, but reaffirms its expectation that this letter represents the last such extension.  The Bank believes this additional five months should be sufficient time for the Company to close such a transaction.  </P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This letter will confirm the terms, conditions and provisions upon which the Bank is willing at this time to reinstate and extend the forbearance arrangements.  Accordingly, notwithstanding
anything contained in the Standstill Termination Letter to the contrary and effective upon the Company's and the Subsidiaries' acceptance of this letter in the space provided for that purpose below (which acceptance must occur without any modification of
the terms of this letter and no later than 2:00&nbsp;p.m., Chicago time, on September&nbsp;25, 2000), the Bank agrees to reinstate and extend the forbearance arrangements with the Company under the following terms and conditions:</P><DIR>
<DIR>

<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.&nbsp;&nbsp;&nbsp;&nbsp;
<I>Extension.</I>  The Scheduled Standstill Expiration Date shall be and hereby is extended from July&nbsp;31, 2000 to February&nbsp;28, 2001.  The reference in the Forbearance Agreement to July&nbsp;31, 2000 in the first full paragraph of the second
page thereof shall be deemed a reference instead to February&nbsp;28, 2001.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.&nbsp;&nbsp;&nbsp;&nbsp;
<I>Acknowledgment of Amounts Owing</I>.  The Company acknowledges and agrees that the aggregate principal amount of Loans outstanding as of September&nbsp;1, 2000 is $6,739,522.86 ($2,739,522.86 in Term Loan and $4,000,000 in Revolving Loans) and such
amount (together with interest thereon) is justly and truly owing by the Company to the Bank without defense, offset or counterclaim.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.&nbsp;<I>&nbsp;&nbsp;&nbsp;</I>
<I>No Additional Credit</I>.  The Company acknowledges that the Bank is under no obligation to extend any additional credit under the Credit Agreement, such obligation having terminated long ago prior to maturity of the Loans.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.&nbsp;<I>&nbsp;&nbsp;&nbsp;</I>
<I>Default Rate.</I>  The Company acknowledges and agrees that the Loans and other Obligations shall continue to bear interest at the rate per annum determined by adding 2% to the Domestic Rate as from time to time in effect, with such interest to be due
and payable monthly on the last day of each month and upon any Standstill Termination and on demand.  The Company hereby promises to pay such interest when due.  The failure by the Company to make any of these payments shall constitute a Standstill
Termination under the Forbearance Agreement.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.&nbsp;<I>&nbsp;&nbsp;&nbsp;</I>
<I>Payments on Term Loans.</I>  The Company hereby promises to continue making monthly payments of $125,000 each on the principal of the Term Loans (to be allocated as between such Loans as the Bank deems appropriate) on the last day of each calendar
month.  The failure by the Company to make any of these payments shall constitute a Standstill Termination under the Forbearance Agreement.  </P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.&nbsp;&nbsp;&nbsp;&nbsp;
<I>Excess Cash Balance Recapture</I>.  The Company shall promptly determine, and report to the Bank, the Company's actual balance of cash on hand as of the last day of each calendar month (cash on hand to be determined after giving effect to principal
and interest payments, if any, due on the date of determination and the amount so determined, for each month, to be referred to herein as that month's <I>"Actual Ending Cash Balance"</I>).  No later than 2:00 p.m. (Chicago time) on the third Business Day of each calendar month, the Company hereby agrees to pay the principal of the Term Loans (to be allocated as between such Loans as the Bank deems
appropriate) in an amount equal to 50% of the excess (if any) of (x)&nbsp;Actual Cash Balance as of the last day of such month over (y)&nbsp;$350,000.  Payments under this paragraph 6 are in additional to those required by paragraph 5 above.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.&nbsp;<I>&nbsp;&nbsp;&nbsp;</I>
<I>Transaction.</I>  The Bank's willingness to enter into the arrangements contemplated by this letter is made in reliance upon the Company's assertions of its intent to close a transaction before the Scheduled Standstill Expiration Date that will result
in the repayment in full of the Obligations.  The Company acknowledges and agrees that a Standstill Termination under the Forbearance Agreement shall occur if the Company ceases to pursue such a transaction in good faith.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.&nbsp;<I>&nbsp;&nbsp;&nbsp;</I>
<I>Sale of Challenge Products Real Estate</I>.  If some or all of the real estate of Challenge Products, Inc. in Missouri shall be sold or otherwise disposed of, the Company shall prepay the Loans (to be allocated between the Loans as the Bank in its
discretion deem appropriate) by an amount equal to the available excess proceeds of such sale.  For purposes hereof, the term <I>"Available Excess Proceeds"</I> shall mean the gross proceeds of such sale or other disposition, less the amount necessary to repay all principal of and interest on the indebtedness secured by the first mortgage on the property sold in favor of Central
Bank of Lake of the Ozarks, and less the reasonable out of pocket cost to the Seller of the applicable disposition, taxes and reasonable sales commissions in each case directly incurred and payable as a result of such disposition. </P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.&nbsp;<I>&nbsp;&nbsp;&nbsp;</I>
<I>Extension Fee</I>.  In consideration of the Bank's agreements in this letter, the Company shall pay the sum of $67,395.23 (representing 1% of the principal amount now outstanding on the Loans) to the Bank as and for an extension fee, such fee to be
deemed fully earned upon the Bank's execution of this letter.  Half of such fee shall be due and payable concurrently with the Company's acceptance of this letter , with the balance of such fee to be due and payable on December&nbsp;31, 2000.
Notwithstanding the foregoing, if the Obligations have been fully repaid before December&nbsp;31, 2000, the Bank agrees to waive the half of the extension fee due on such date.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.&nbsp;&nbsp;&nbsp;&nbsp;
<I>Borrowing Base Certificates.</I>  The Company acknowledges and agrees that it must continue to furnish the Bank, weekly Borrowing Base certificates as previously required by the Forbearance Agreement.  The Company also acknowledges and agrees that it
must continue to furnish the Bank a Compliance Certificate for each month no later than 20&nbsp;days after that month's close, showing in reasonable detail (i) compliance as of the close of such month with the covenants in paragraph numbered 9 below and
(ii) for informational purposes, the Company's actual Funded Debt to Capitalization Ratio, <I>"fixed charge coverage ratio"</I> (as per Section&nbsp;8.10 of the Credit Agreement) and Cash Flow Leverage Ratio also as of such close, such Certificate to be prepared by the Company and certified by its president or chief financial officer.  The
Company's failure to timely deliver any such Borrowing Base Certificate or Compliance Certificate shall constitute a Standstill Termination under the Forbearance Agreement.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.&nbsp;<I>&nbsp;&nbsp;&nbsp;</I>
<I>Financial Covenants</I>.  The Company need not comply with the financial covenants set forth in Sections&nbsp;8.7 through 8.12, inclusive, of the Credit Agreement during the Standstill Period.  In lieu of compliance with those covenants, the Company
must, however, comply with the following:</P><DIR>
<DIR>

<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; (a)&nbsp;&nbsp;&nbsp;&nbsp; The Company must maintain its EBITDA on a cumulative basis for each period of twelve calendar months ending on a date specified below to be not less than the amount specified below to the
right of such ending date:</P></DIR>
</DIR>
</DIR>
</DIR>
</FONT>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=1 BORDER=0 WIDTH=462>
<TR><TD WIDTH="47%" VALIGN="TOP">
<FONT FACE="Times,Times New Roman"><P ALIGN="CENTER">For 12-Month Period Ending:</FONT></TD>
<TD WIDTH="53%" VALIGN="TOP">
<FONT FACE="Times,Times New Roman"><P ALIGN="CENTER">EBITDA Must Not Be Less Than:</FONT></TD>
</TR>
<TR><TD WIDTH="47%" VALIGN="TOP">
<FONT FACE="Times,Times New Roman"><P ALIGN="CENTER">September&nbsp;30, 2000</FONT></TD>
<TD WIDTH="53%" VALIGN="TOP">
<FONT FACE="Times,Times New Roman"><P ALIGN="CENTER">$5,130,000</FONT></TD>
</TR>
<TR><TD WIDTH="47%" VALIGN="TOP">
<FONT FACE="Times,Times New Roman"><P ALIGN="CENTER">October&nbsp;31, 2000</FONT></TD>
<TD WIDTH="53%" VALIGN="TOP">
<FONT FACE="Times,Times New Roman"><P ALIGN="CENTER">$4,965,000</FONT></TD>
</TR>
<TR><TD WIDTH="47%" VALIGN="TOP">
<FONT FACE="Times,Times New Roman"><P ALIGN="CENTER">November&nbsp;30, 2000</FONT></TD>
<TD WIDTH="53%" VALIGN="TOP">
<FONT FACE="Times,Times New Roman"><P ALIGN="CENTER">$4,715,000</FONT></TD>
</TR>
<TR><TD WIDTH="47%" VALIGN="TOP">
<FONT FACE="Times,Times New Roman"><P ALIGN="CENTER">December&nbsp;31, 2000</FONT></TD>
<TD WIDTH="53%" VALIGN="TOP">
<FONT FACE="Times,Times New Roman"><P ALIGN="CENTER">$4,220,000</FONT></TD>
</TR>
<TR><TD WIDTH="47%" VALIGN="TOP">
<FONT FACE="Times,Times New Roman"><P ALIGN="CENTER">January&nbsp;31, 2001</FONT></TD>
<TD WIDTH="53%" VALIGN="TOP">
<FONT FACE="Times,Times New Roman"><P ALIGN="CENTER">$4,195,000</FONT></TD>
</TR>
</TABLE>
</CENTER>
<DIR>
<DIR>
<DIR>
<DIR>

<FONT FACE="Times,Times New Roman"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; (b)&nbsp;&nbsp;&nbsp;&nbsp;
The Company shall not, nor shall it permit any Subsidiary to, expend or become obligated for capital expenditures (as determined in accordance with GAAP) during the period commencing September&nbsp;1, 2000 and ending on the Scheduled Standstill
Expiration Date in an aggregate amount (for the Company and its Subsidiaries taken together) in excess of $300,000.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; (c)&nbsp;&nbsp;&nbsp;&nbsp; The Company will not at any time permit its Tangible Net Worth to be less than $2,500,000.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; (d)&nbsp;&nbsp;&nbsp;&nbsp; The Company will not as of the last day of any monthly accounting period of the Company, permit its Interest Coverage Ratio to fall below 3.0 to 1.</P></DIR>
</DIR>

<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.&nbsp;&nbsp;&nbsp;&nbsp;
<I>Revolver Borrowing Base Cushion.</I>  The Company agrees to make such payments on the principal of the Revolving Loans as shall be necessary to assure that the Revolver Borrowing Base shall at all times during the Standstill Period exceed the
principal amount of Revolving Loans then outstanding by no less than $500,000 (it being understood and agreed that no such payments are available for reborrowing).  The failure by the Company at any time during the Standstill Period to maintain such an
excess shall constitute a Standstill Termination under the Forbearance Agreement.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13.&nbsp;<I>&nbsp;&nbsp;&nbsp;</I>
<I>Limitation on the Reduction of Accounts Payable.</I><B>  </B>No later than twenty days following the close of each calendar month (commencing with the close of August, 2000), if the Company's accounts payable (as determined in accordance with its
current accounting practices, which include accrued liabilities, except for payroll accruals) reduce during such month to an amount less than $915,905 (representing 80% of the accounts payable, as so determined, outstanding as of June&nbsp;30, 2000), the
Company shall make a payment on the principal of the Loans (to be allocated between the Loans as the Bank in its discretion deems appropriate) equal to the amount of the reduction during that month below such 80% amount.  The failure to make such payment
shall constitute a Standstill Termination under the Forbearance Agreement.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14.&nbsp;<I>&nbsp;&nbsp;&nbsp;</I>
<I>Additional Information.  </I>In addition to furnishing the Bank with the information currently required by the Loan Documents, the Company shall also furnish the Bank:</P><DIR>
<DIR>

<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; (a)&nbsp;&nbsp;&nbsp;&nbsp; as soon as available, and in any event by the 20<SUP>th</SUP> day of each calendar month, an accounts payable and accounts receivable aging summaries as the last business day of the
immediately preceding month, each prepared by the Company and certified by its president or chief financial officer; and</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp; (b)&nbsp;&nbsp;&nbsp;&nbsp; as and when received, a copy of each financing proposal or commitment or letter of intent or expression of interest or definitive agreement for a transaction of the type described in
paragraph&nbsp;6 above. </P></DIR>
</DIR>

<P ALIGN="JUSTIFY">The failure by the Company to provide any such information by the relevant deadline shall constitute a Standstill Termination under the Forbearance Agreement.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15.&nbsp;&nbsp;&nbsp;&nbsp;
<I>Additional Standstill Termination.</I>  Any failure by the Company to comply with the terms of this letter shall constitute a Standstill Termination under the Forbearance Agreement.  </P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16.&nbsp;<I>&nbsp;&nbsp;&nbsp;</I>
<I>Release.</I>  For value received, including without limitation, the agreements of the Bank in this letter, the Company hereby releases the Bank, its current and former shareholders, directors, officers, agents, employees and professional advisors
(collectively, the <I>"Released Parties"</I>) of and from any and all demands, actions, causes of action, suits, controversies, acts and omissions, liabilities, and other claims of every kind or nature whatsoever, both in law and in equity, known or unknown, which the
Company has or ever had against the Released Parties from the beginning of the world to this date, including, without limitation, those arising out of the existing financing arrangements or actions to sell the Company or any of its Property and the
Company further acknowledges that, as of the date hereof, it does not have any counterclaim, set-off or defense against the Released Parties, each of which the Company hereby expressly waives.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17.&nbsp;<I>&nbsp;&nbsp;&nbsp;</I>
<I>Compliance With Forbearance Agreement.</I>  The Company must continue to comply with all the terms, conditions and provisions of the Forbearance Agreement as modified by this letter.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18.&nbsp;<I>&nbsp;&nbsp;&nbsp;</I>
<I>Miscellaneous.</I>  The Company agrees to pay the out-of-pocket costs and expenses of the Bank (including attorney's fees) in connection with the negotiation, preparation, execution and delivery of this letter and the other instruments or documents
contemplated hereby or to be delivered hereunder.  Except as specifically modified by this letter, the terms, conditions and provisions of the Forbearance Agreement remain in full force and effect.</P>
<P ALIGN="JUSTIFY">&nbsp;</P></DIR>
</DIR>

<P ALIGN="JUSTIFY">Dated as of September ___, 2000.</P>
<div align="right">
  <table border="0" width="300">
    <tr>
      <td width="272">

<P>

<FONT FACE="Times,Times New Roman">Harris Trust And Savings Bank
</FONT></P>
      </td>
    </tr>
    <tr>
      <td width="272">
<P>

<FONT FACE="Times,Times New Roman">By<br>
</FONT>&nbsp;&nbsp;

<FONT FACE="Times,Times New Roman">Its&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>
</FONT></P>
      </td>
    </tr>
  </TABLE>
</div>

<P ALIGN="JUSTIFY">Accepted and agreed to.</P>
<div align="right">
  <table border="0" width="300">
    <tr>
      <td>

<P>

<FONT FACE="Times,Times New Roman">Pro-Dex, Inc.
</FONT></P>
      </td>
    </tr>
    <tr>
      <td>
<P>

<FONT FACE="Times,Times New Roman">By<br>
</FONT>&nbsp;&nbsp;

<FONT FACE="Times,Times New Roman">Its&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;</u>
</FONT></P>
      </td>
    </tr>
  </TABLE>
</div>

<B><P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">Guarantor's Acknowledgment and Consent</P>
</B><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Each of the undersigned heretofore executed and delivered to the Bank a Guaranty dated July&nbsp;24, 1996.  Each of the undersigned hereby consents to this letter as set forth above and
confirms that its Guaranty and all of its obligations thereunder remain in full force and effect.  Each of the undersigned also heretofore executed and delivered a Subsidiary Security Agreement dated July&nbsp;24, 1996.  Each of the undersigned hereby
acknowledges and agrees that the Liens created and provided for by the Subsidiary Security Agreements continue to secure, among other things, the Obligations arising under the Credit Agreement; and the Subsidiary Security Agreements and the rights and
remedies of the Bank thereunder, the obligations of each of the undersigned thereunder, and the Liens created and provided for thereunder remain in full force and effect and shall not be affected, impaired or discharged hereby.  Nothing herein contained
shall in any manner affect or impair the priority of liens and security interests created and provided for by the Subsidiary Security Agreements as to the indebtedness which would be secured thereby prior to giving effect to this letter.</P>
<P ALIGN="JUSTIFY"></P>
</FONT>
<div align="right">
  <table border="0" width="300">
    <tr>
      <td>

<P>

<FONT FACE="Times,Times New Roman">Biotrol International, Inc.
</FONT></P>

      </td>
    </tr>
    <tr>
      <td>

<P>

<FONT FACE="Times,Times New Roman">By<br>
</FONT>&nbsp;&nbsp;

<FONT FACE="Times,Times New Roman">Its&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>
</FONT></P>

      </td>
    </tr>
    <tr>
      <td>

      </td>
    </tr>
    <tr>
      <td>
<P>&nbsp;</P>

<P>&nbsp;</P>

<P>

<FONT FACE="Times,Times New Roman">Challenge Products, Inc.
</FONT></P>

      </td>
    </tr>
    <tr>
      <td>

<P>

<FONT FACE="Times,Times New Roman">&nbsp;By<br>
</FONT>&nbsp;&nbsp;

<FONT FACE="Times,Times New Roman">Its&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>
</FONT></P>

      </td>
    </tr>
    <tr>
      <td>

<P></P>
      </td>
    </tr>
    <tr>
      <td>

      </td>
    </tr>
    <tr>
      <td>
<P>&nbsp;</P>

<P>&nbsp;</P>

<P>

<FONT FACE="Times,Times New Roman">Micro Motors, Inc.
</FONT></P>

      </td>
    </tr>
    <tr>
      <td>
<P>

<FONT FACE="Times,Times New Roman">&nbsp;By<br>
</FONT>&nbsp;&nbsp;

<FONT FACE="Times,Times New Roman">Its&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>
</FONT></P>

      </td>
    </tr>
    <tr>
      <td>

<P></P>
      </td>
    </tr>
    <tr>
      <td>

      </td>
    </tr>
    <tr>
      <td>
<P>&nbsp;</P>

<P>&nbsp;</P>

<P>

<FONT FACE="Times,Times New Roman">Oregon Micro Systems, Inc.
</FONT></P>

      </td>
    </tr>
    <tr>
      <td>

<P>

<FONT FACE="Times,Times New Roman">By<br>
</FONT>&nbsp;&nbsp;

<FONT FACE="Times,Times New Roman">Its&nbsp; <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</u>
</FONT></P>
      </td>
    </tr>
  </TABLE>
</div>
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-27
<SEQUENCE>4
<FILENAME>profds.xfd
<DESCRIPTION>EXHIBIT 27
<TEXT>

<TABLE> <S> <C>

<ARTICLE>    5

<S>                                                      <C>
<PERIOD-TYPE>                                          3-MOS
<PERIOD-START>                                   Jul-01-2000
<FISCAL-YEAR-END>                                Jun-30-2001
<PERIOD-END>                                     Sep-30-2000
<CASH>                                               457,391
<SECURITIES>                                               0
<RECEIVABLES>                                      3,409,601
<ALLOWANCES>                                          57,000
<INVENTORY>                                        4,922,545
<CURRENT-ASSETS>                                  10,172,230
<PP&E>                                             6,313,855
<DEPRECIATION>                                     3,784,107
<TOTAL-ASSETS>                                    16,330,241
<CURRENT-LIABILITIES>                              9,968,079
<BONDS>                                                    0
<PREFERRED-MANDATORY>                                      0
<PREFERRED>                                          282,990
<COMMON>                                          14,975,694
<OTHER-SE>                                       (8,896,522)
<TOTAL-LIABILITY-AND-EQUITY>                      16,330,241
<SALES>                                            6,220,538
<TOTAL-REVENUES>                                   6,220,538
<CGS>                                              2,689,863
<TOTAL-COSTS>                                      2,689,863
<OTHER-EXPENSES>                                           0
<LOSS-PROVISION>                                       1,321
<INTEREST-EXPENSE>                                   262,996
<INCOME-PRETAX>                                      709,256
<INCOME-TAX>                                         283,703
<INCOME-CONTINUING>                                  425,553
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