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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 11-K
ANNUAL REPORT
PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
(MARK ONE)
|X| ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2003
OR
|_| TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 [NO FEE REQUIRED].
FOR THE TRANSITION PERIOD FROM TO
COMMISSION FILE NUMBER 001-09974
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Enzo Biochem, Inc. Salary Reduction Profit Sharing Plan
(Full title of the plan and the address of the plan, if different from that
of the issuer named below:)
ENZO BIOCHEM, INC., 60 EXECUTIVE BOULEVARD, FARMINGDALE, NY 11735
(Name of issuer of the securities held pursuant to the plan and the address
of its principal executive office)
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ENZO BIOCHEM, INC.
SALARY REDUCTION PROFIT SHARING PLAN
TABLE OF CONTENTS
REPORT OF WATSON RICE LLP
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ......................... F-1
FINANCIAL STATEMENTS FOR THE YEARS ENDED
DECEMBER 31, 2003 AND 2002:
Statements of Net Assets Available for Benefits ..................... F-2
Statement of Changes in Net Assets Available for Benefits............ F-3
Notes to Financial Statements ....................................... F-4
SUPPLEMENTAL SCHEDULE FOR THE YEAR ENDED
DECEMBER 31, 2003:
Schedule H, Item 4i --
Schedule of Assets Held at End of Year .............................. F-8
REPORT OF AUDREY WALLACH, CPA, INDEPENDENT AUDITORS ....................... F-10
FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2002
STATEMENT OF NET ASSETS
AVAILABLE FOR BENEFITS .................................................. F-11
STATEMENT OF CHANGES IN NET ASSETS
AVAILABLE FOR BENEFITS .................................................. F-12
NOTES TO FINANCIAL STATEMENTS ............................................. F-13
SCHEDULE OF NON-EXEMPT TRANSACTIONS ....................................... F-17
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Trustees of
Enzo Biochem, Inc. Salary Reduction Profit Sharing Plan
We have audited the accompanying statement of net assets available for benefits
of Enzo Biochem, Inc. Salary Reduction Profit Sharing Plan (the "Plan") as of
December 31, 2003, and the related statement of changes in net assets available
for benefits for the year ended December 31, 2003. These financial statements
are the responsibility of the Plan's management. Our responsibility is to
express an opinion on these financial statements based on our audit. The
financial statements of Enzo Biochem, Inc. Salary Reduction Profit Sharing Plan
as of December 31, 2002 were audited by other auditors whose report dated
September 20, 2003 expresses an unqualified opinion on those statements.
We conducted our audit in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the Plan as of
December 31, 2003 and the changes in net assets available for benefits for the
year ended December 31, 2003 in conformity with accounting principles generally
accepted in the United States of America.
Our audit was conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedule of assets held
for investment purposes at the end of the year, is presented for the purpose of
additional analysis and is not a required part of the basic financial statements
but is supplementary information required by the Department of Labor's Rules and
Regulations for Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. The supplemental schedule is the responsibility of the
Plan's management. The supplemental schedule has been subjected to the auditing
procedures applied in the audit of the basic financial statements and, in our
opinion, is fairly stated in all material respects in relation to the basic
financial statements taken as a whole.
WATSON RICE LLP
New York, New York
July 9, 2004
F-1
ENZO BIOCHEM, INC.
SALARY REDUCTION PROFIT SHARING PLAN
Statements of Net Assets Available for Benefits
December 31,
2003 2002
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ASSETS
Investments at Fair Value:
Mutual funds $6,213,531 $4,409,225
Common stock 1,685,349 1,031,265
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7,898,880 5,440,490
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Receivables:
Employer's contributions 282,239 257,450
Participants' contributions 480 -
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282,719 257,450
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Loans receivable -- participants 235,312 174,741
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TOTAL ASSETS 8,416,911 5,872,681
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NET ASSETS AVAILABLE FOR BENEFITS $8,416,911 $5,872,681
========== ==========
See notes to financial statements
F-2
ENZO BIOCHEM, INC.
SALARY REDUCTION PROFIT SHARING PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 2003
Additions to Net Assets Attributed to:
Participants' contributions $ 704,353
Employer's contributions 284,609
Rollovers 24,698
Interest on loans to participants 9,471
Net appreciation in fair value of investments:
Mutual funds 1,242,258
Common stock 439,811 1,682,069
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Total Additions 2,705,200
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Deductions from Net Assets Attributed to:
Benefits paid to participants 130,683
Administrative expenses 30,287
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Total Deductions 160,970
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Net increase in net assets 2,544,230
Net Assets Available for Benefits, Beginning of Year 5,872,681
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Net Assets Available for Benefits, End of Year $8,416,911
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See notes to financial statements.
F-3
ENZO BIOCHEM, INC.
SALARY REDUCTION PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2003 AND 2002
NOTE 1. PLAN DESCRIPTION
The following description of the Enzo Biochem, Inc., Salary Reduction
Profit-Sharing Plan (the "Plan") provides only general information.
Participants should refer to the Plan Agreement, as amended, for a
more complete description of the Plan's provisions.
GENERAL
The Plan is a defined contribution plan covering all eligible full
time employees of Enzo Biochem, Inc., Enzo Clinical Labs, Inc., Enzo
Therapeutics, Inc. and Enzo Life Sciences (the "Companies") who have
completed three months of service and have attained age twenty-one.
The Plan is subject to the provisions of the Employment Retirement
Income Security Act of 1974 (ERISA).
CONTRIBUTIONS
Eligible employees can elect to defer up to 17% of their compensation,
as defined by the Plan, limited to the maximum for each year ($12,000
in 2003) permitted by the Internal Revenue Code. In addition, the
Companies will contribute to the plan a discretionary matching
contribution equal to 50% of the employees' 401(k) contribution, not
to exceed 10% of the employee's annual compensation. Participants who
have completed a year of service during the plan year and are actively
employed as of the last day of the plan year shall be deemed eligible
to share in the matching contribution for the year. In 2003 and 2002
the total matching contributions were $282,239 and $257,450,
respectively, in the form of Enzo Biochem Inc. company stock.
F-4
ENZO BIOCHEM, INC.
SALARY REDUCTION PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS - CONTINUED
NOTE 1. PLAN DESCRIPTION - CONTINUED
PARTICIPANTS' ACCOUNTS
Contributions are invested in a choice of sixteen mutual funds and the
common stock of Enzo Biochem, Inc. (see Note 7). Contribution
selections are designated by the participants. Each participant's
account is credited with the participant's contribution and
allocations of (a) the Companies contributions and (b) Plan earnings,
and charged with an allocation of administrative expenses. Allocations
are based on participant compensation or account balances, as defined.
The benefit to which a participant is entitled is the benefit that can
be provided from the participant's vested account.
VESTING
Participants' contributed funds arising from salary reductions and the
earnings thereon, are fully vested at all times. Vesting in the
Companies' matching contribution and earnings thereon, is ratable over
four years of service. Forfeitures are allocated among participants
eligible to share for a plan year.
LOANS TO PARTICIPANTS
Participants may borrow from their 401(k) accounts a minimum of $1,000
up to a maximum of 50% of their vested account balance or $50,000.
Participants are entitled to borrow from their account for a maximum
loan term of five years unless the proceeds are used to acquire a
principal residence in which case it may exceed 5 years. The loans are
secured by the participant's vested account balance and bear a
reasonable rate of interest. Principal and interest is paid ratably
through payroll deductions.
PAYMENT OF BENEFITS
On termination of service due to death, disability or retirement,
participants may elect to receive an amount equal to the value of the
participants' vested interest in their account in either a lump sum
amount or in various annuity options. For termination of service due
to other reasons, a participant may receive the value of the vested
interest in their account as a lump sum distribution. Benefits are
payable in the form of cash or property.
F-5
ENZO BIOCHEM, INC.
SALARY REDUCTION PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS - CONTINUED
NOTE 1. PLAN DESCRIPTION - CONTINUED
OPERATING EXPENSES
Certain operating expenses of the Plan are absorbed by the Plan
Sponsor.
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The Plan's financial statements have been prepared in conformity with
accounting principles generally accepted in the United States of
America and under the accrual basis method of accounting.
The Plan's investments are stated at fair value except for its benefit
responsive investment contract which is valued at contract value (Note
4). Investment earnings are reinvested in the respective funds.
Investment earnings include the Plan's proportionate share of
interest, dividends, realized gains and losses on the disposal of
investments, and appreciation or depreciation in the fair value of the
underlying investments comprising the respective mutual funds. All
purchases and sales are recorded on a trade date basis.
The Plan presents in the statement of changes in net asset available
for benefits, the net appreciation in fair value of its investments,
which consists of the realized gains or losses and the unrealized
appreciation (depreciation) on those investments.
The preparation of the financial statements in conformity with
accounting principles generally accepted in the United States of
America requires management to make estimates and assumptions that
affect reported amounts and disclosures in the financial statements.
Actual results could differ from those estimates.
F-6
ENZO BIOCHEM, INC.
SALARY REDUCTION PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS - CONTINUED
NOTE 3. INVESTMENTS
The Plan's investments are held by Counsel Trust Company. The
following table presents the fair values, as determined by quoted
market price, of the investments except for the Metropolitan Life
Insurance contract which is presented at contract value:
2003
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Enzo Biochem, Inc.* $ 1,685,349
American Funds American Balanced Fund CL A* 1,115,300
American Century Income & Growth 33,501
Babson Value Fund* 425,814
American Funds Europacific Growth CL A* 911,523
Federated Kaufmann Fund Cl K 327,550
Fidelity Concord Str Spartan US Eqidx 64,696
Fidelity Contrafund Inc. Common* 477,631
Aim Invesco Dynamics Fund 37,061
Aim Invesco Small Company Growth Fund 13,967
Aim Invesco Technology Fund Investor CL 66,829
Janus Invt Fd Sh Ben Int* 571,213
Neuberger & Berman Genesis Fund Trust 202,482
Putnam New Opportunities Fd Sh Ben Int A 10,498
American Funds Washington Mutual
Investors Fund CL A* 1,401,057
American Funds US Gov't Securities Fund CL A 167,211
Metropolitan Life Ins Co - Ins Prods 387,198
* Denotes investments representing 5% or more of net assets available
for benefits at December 31, 2003.
F-7
ENZO BIOCHEM, INC.
SALARY REDUCTION PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS - CONTINUED
NOTE 4. INVESTMENT CONTRACT WITH INSURANCE COMPANY
The Plan has a benefit-responsive investment contract with MetLife
Trust Company, National Association (MetLife). MetLife maintains the
contributions in separate accounts. The accounts are credited with
earnings on the underlying investments and charged for participant
withdrawals and administrative expenses. The contract is included in
the financial statements at contract value as reported to the Plan by
Counsel Trust Company. Contract value represents contributions made
under the contract, plus earnings, less participant withdrawals and
administrative expenses. Participants may ordinarily direct the
withdrawal or transfer of all or a portion of their investment at
contract value.
There are no reserves against contract value for credit risk of the
contract issuer or otherwise. The average yield and crediting interest
rates were approximately 3.7% for 2003.
NOTE 5. PLAN TERMINATION
Although it has not expressed any intent to do so, the Companies have
the right under the Plan to discontinue their contributions at any
time and to terminate the Plan subject to the provisions of ERISA.
NOTE 6. TAX STATUS
The Plan obtained its latest determination letter in February 2002 in
which the Internal Revenue Service stated that the Plan was in
compliance with the applicable requirements of the Internal Revenue
Code.
NOTE 7. RELATED PARTY TRANSACTIONS
During 2003, the plan purchased shares of stock in Enzo Biochem, Inc.,
the parent company of the plan sponsor, at market prices totaling
approximately $353,696. In addition, shares were sold, at market
prices totaling approximately $139,423. At December 31, 2003 and 2002
the Plan held Enzo Biochem, Inc. stock at market prices totaling
$1,685,349 and $1,031,265, respectively.
Fees paid by the Plan to the Plan administrators amounted to $30,287
for the year ended December 31, 2003.
F-8
ENZO BIOCHEM, INC.
SALARY REDUCTIONS PLAN
SCHEDULE H, ITEM 4I
SCHEDULE OF ASSETS HELD AT END OF YEAR
E.I.N. # 13-2869332
PLAN # 001
YEAR ENDED DECEMBER 31, 2003
DESCRIPTION OF
INVESTMENT INCLUDING
IDENTITY OF ISSUE, MATURITY DATE, RATE
BORROWER, LESSOR OR OF INTEREST, COLLATERAL, CURRENT
SIMILAR PARTY PAR OR MATURITY VALUE COST VALUE
(a) (b) (c) (d) (e)
-------- --------------------------------------------- ----------------------------- ------- ------------
* Enzo Biochem, Inc. Common Stock ** $1,685,349
American Funds American Balanced Fund CL A Mutual Fund ** 1,115,300
American Century Income & Growth Mutual Fund ** 33,501
Babson Value Fund Mutual Fund ** 425,814
American Funds Europacific Growth CL A Mutual Fund ** 911,523
Federated Kaufmann Fund Cl K Mutual Fund ** 327,550
Fidelity Concord Str Spartan US Eqidx Mutual Fund ** 64,696
Fidelity Contrafund Inc. Common Mutual Fund ** 477,631
Aim Invesco Dynamics Fund Mutual Fund ** 37,061
Aim Invesco Small Company Growth Fund Mutual Fund ** 13,967
Aim Invesco Technology Fund Investor CL Mutual Fund ** 66,829
Janus Invt Fd Sh Ben Int Mutual Fund ** 571,213
Neuberger & Berman Genesis Fund Trust Mutual Fund ** 202,482
Putnam New Opportunities Fd Sh Ben Int A Mutual Fund ** 10,498
American Funds Washington Mutual
Investors Fund CL A Mutual Fund ** 1,401,057
American Fund US Gov't Securities Fund CL A Mutual Fund ** 167,211
Metropolitan Life Ins Co - Ins Prods Mutual Fund ** 387,198
Participant Loans 5.00% - 9.50% ** 235,312
* Party-in-interest.
** Cost information is not required.
See Independent Auditors' Report.
F-9
AUDREY WALLACH, CPA
Certified Public Accountant
780 CYNTHIA DRIVE
EAST MEADOW, NY 11554
Telephone: (516) 565-6441
E-mail: EMHAWK@aol.com
REPORT OF INDEPENDENT AUDITORS
To the Sponsor of the
Enzo Biochem, Inc.
Salary Reduction Profit Sharing Plan
We have audited the accompanying statements of net assets available for benefits
of the Enzo Biochem, Inc. Salary Reduction Profit Sharing Plan (the "Plan") as
of December 31, 2002 and 2001, and the related statements of changes in net
assets available for benefits for the year ended December 31, 2002. These
financial statements are the responsibility of the Plan's management. Our
responsibility is to express an opinion on these financial statements based on
our audits.
We conducted our audits in accordance with auditing standards generally accepted
in the United States of America. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the Plan as of
December 31, 2002 and 2001, and the changes in net assets available for benefits
for the year ended December 31, 2002, in conformity with accounting principles
generally accepted in the United States of America.
Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of (1) assets
held for investment purposes as of December 31, 2002 and (2) reportable
transaction for the year ended December 31, 2002, are presented for the purpose
of additional analysis and are not a required part of the basic financial
statements but are supplementary information required by the Department of
Labor's Rules and Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974. These supplemental schedules are the
responsibility of the Plan's management. The supplemental schedules have been
subjected to the auditing procedures applied in the audit of the basic financial
statements and, in our opinion, are fairly stated in all material respects when
in relation to the basic financial statements taken as a whole.
Audrey Wallach, CPA
East Meadow, New York
September 30, 2003
F-10
Audrey Wallach, CPA
ENZO BIOCHEM, INC.
SALARY REDUCTION PROFIT SHARING PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER 31, 2002 AND 2001
2002 2001
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Assets:
Investments: (Note 8) $ 5,615,231 $ 6,385,787
Receivables:
Employer contributions 257,450 246,923
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Total receivables 257,450 246,923
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Total assets 5,872,681 6,632,710
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Liabilities:
Total liabilities -- --
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Net assets available for benefits $ 5,872,681 $ 6,632,710
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See accompanying notes to financial statements
F-11
Audrey Wallach, CPA
ENZO BIOCHEM, INC.
SALARY REDUCTION PROFIT SHARING PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
YEAR ENDED DECEMBER 31, 2002
Additions to net assets attributed to:
Investment income:
Interest $ 7,319
Net appreciation (depreciation) in
fair value of investments (1,282,647)
------------
(1,275,328
Contributions:
Participant 634,148
Employer 257,450
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891,598
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Total additions (383,730)
------------
Deductions from net assets attributed to:
Benefits paid to participants 337,032
Administration expenses 39,267
------------
Total deductions 376,299
------------
Net (decrease) (760,029)
Net assets available for benefits:
Beginning of the year 6,632,710
------------
End of the year $ 5,872,681
============
See accompanying notes to financial statements
F-12
Audrey Wallach, CPA
ENZO BIOCHEM, INC.
SALARY REDUCTION PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2002
1. Description of the Plan
The following description of the Enzo Biochem, Inc. ("Company") Salary Reduction
Profit Sharing Plan ("Plan") provides only general information. Participants
should refer to the Plan agreement for a more complete description of the Plan's
provisions.
Effective January 1, 1997, Enzo Labs, Inc. amended the Enzo Biochem, Inc. Salary
Reduction Profit Sharing Plan. The Plan was further amended, effective January
1, 2002, to comply with recent legislation and to ensure continued tax-favored
treatment. The Plan operates under the favorable determination letter issued by
the Internal Revenue Service dated February 14, 2002. Additional employers which
have adopted the provisions of the Plan are Enzo clinical Labs, Inc. (formerly
Enzo Labs, Inc.), Enzo Therapeutics, Inc. and Enzo Diagnostics, Inc.
The Plan is a defined contribution plan covering substantially all full-time
employees who have completed three months of service and attained age 21, who
are not covered under a collective bargaining agreement. It is subject to the
provisions of the Employee Retirement Income Security Act (ERISA).
2. Summary of Significant Accounting Policies
a. The Plan's financial statements are prepared on the accrual basis of
accounting, except for cash basis of recording of benefits paid.
b. The Plan's investments are stated at fair value. Quoted market prices are
used to value investments. Shares of mutual funds are valued at the net
asset value of shares held by the Plan at year end.
c. The preparation of the financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect certain reported amounts and disclosures.
Accordingly actual results may differ from those estimates.
3. Contributions
Each year, participants may contribute up to 17% of the participant's annual
compensation, as defined in the Plan. Employee contributions vest immediately.
Participants direct the investment of their contributions into various
investment options offered by the Plan.
F-13
Audrey Wallach, CPA
In addition the Company makes discretionary matching contributions equal to 50%
of participant contributions to the extent of amounts not exceeding 10% of
participants' annual compensation. In 2002 and 2001 the totals of the matching
contributions were $257,450 and $246,923 respectively, in the form of Enzo
Biochem, Inc. Company stock.
Employer contributions vest ratably over four years of service.
Forfeitures attributable to Company contribution accounts are allocated among
participants eligible to share for a Plan year.
4. PAYMENT OF BENEFITS
Participants' benefits under the Plan are payable to participants, their
beneficiaries or their estates upon the termination of employment, normal
retirement, late retirement, disability, death or hardship. Benefits are payable
in the form of lump-sum distributions of cash or property.
5. LOANS TO PARTICIPANTS
The Plan provides for loans to participants, which may be repaid through payroll
deductions. Loans (i) bear a reasonable rate of interest, (ii) are secured by
the participant's account, (iii) are available to all participants on a uniform
and non-discriminatory basis, (iv) are limited to 50% of the participant's
vested account balance or $50,000 less the highest outstanding loan balance in
the previous twelve months, (v) provide for repayment over a period not to
exceed five years unless such loan is used to purchase a primary residence.
A loan will not be issued for an amount less than $1,000.00.
6. TERMINATION
Although it has not expressed any intent to do so, the Company reserves the
right to terminate the Plan at any time. Termination of the Plan shall result in
immediate vesting of the entire amount credited to each participant. Upon
termination of the Plan, the trustees shall retain sufficient assets to complete
all scheduled payments due to former participants or their beneficiaries and
estates.
7. TAX STATUS
The trust established under the plan to hold the Plan's assets is qualified
pursuant to the appropriate section of the Internal Revenue Code, and
accordingly, the Plan's net investment income is exempt from income taxes. The
Plan has a favorable determination letter from the Internal Revenue Service. The
Plan sponsor believes that the Plan qualifies and operates as designed.
F-14
Audrey Wallach, CPA
8 INVESTMENTS
The Company has adopted and implemented a daily valuation multi-fund family
program for eligible employees. Under the daily valuation program
participants are able to invest their accounts under a menu of mutual
funds. A participant may (i) access his or her account value at any time
and (ii) direct the investment of his or her existing account and future
contributions by a toll-free number or via the internet at any time among
the mutual funds offered under the Plan. Under the program the automated
voice response system is electronically linked to IBG to effect fund
transfers. IBG provides trade confirmations for any and all buys, sells and
exchanges (i.e., deposits, transfers, distributions) of funds under the
daily valuation program.
FORM 5500 SCHEDULE H PART IV LINE 4i
Schedule of Assets (Held at End of Year)
Description Current Value
----------- -------------
Spartan US Equity Index Fund 32,836
American Century Income & Growth Fund 16,252
American Balanced Fund Class A 784,501*
American US Government Securities Fund 143,439
Invesco Dynamics Fund 24,794
Invesco Small Company Growth Fund 7,858
Invesco Technology Class II Fund 40,098
Babson Value Fund 304,432*
American EuroPacific Growth Fund 625,071*
Janus Fund 412,893*
Federal Kaufmann Fund Class K 209,195
Neuberger Berman Genesis Trust 135,767
Putnam New Opportunities Fund 7,086
American Washington Mutual Investors Fund Class A 1,059,846*
Fidelity FMMT Retirement Money Market Fund 272,559
Fidelity Contrafund 331,444*
Enzo Biochem, Inc. Common Stock 1,031,265*
Participant Loans 174,741
Cash 1,154
-------------
5,615,231
=============
* Represents more than 5% of total assets.
F-15
Audrey Wallach, CPA
9. NON-EXEMPT TRANSACTIONS
It was noted that there were unintentional delays by the Company in remitting
employee deferrals to the trust in amounts totaling $88,234. Accordingly, the
Plan should be reimbursed for the $137 in lost earnings.
F-16
Audrey Wallach, CPA
ENZO BIOCHEM, INC.
SALARY REDUCTION PROFIT SHARING PLAN
SCHEDULE G, PART III FORM 5500
NONEXEMPT TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 2002
(a) Identity of party involved
Enzo Biochem, Inc.
(b) Relationship to plan
Plan Sponsor
(c) Description of transactions including maturity date, rate of interest
Employee deferral and loan payments not deposited with the Plan in a timely
manner. Interest at 6%.
(h) Cost of asset
$137
See accompanying notes to financial statements
F-17
SIGNATURES
THE PLAN. Pursuant to the requirements of the Securities Exchange Act of
1934, a trustee of the below named employee benefit plan has duly caused this
annual report to be signed on its behalf by the undersigned hereunto duly
authorized.
Enzo Biochem, Inc.
Salary Reduction Profit Sharing Plan
Date: June 25, 2004
/s/ Herbert Bass
-----------------------------
By: Herbert Bass
Trustee
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