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<title>Argan 8-K</title>



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<p class=MsoNormal align=right style='text-align:right;text-autospace:none'><b><i>&nbsp;</i></b></p>



<p class=MsoNormal align=center style='text-align:center;text-autospace:none'>UNITED STATES<br>
SECURITIES AND EXCHANGE
COMMISSION<br>
WASHINGTON, DC 20549</p>

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<p class=MsoNormal align=center style='text-align:center;text-autospace:none'>FORM 8-K</p>



<p class=MsoNormal align=center style='text-align:center;text-autospace:none'>CURRENT REPORT<br>
PURSUANT TO SECTION 13
OR 15(d) OF THE<br>
SECURITIES EXCHANGE ACT
OF 1934</p>



<p class=MsoNormal align=center style='text-align:center;text-autospace:none'>Date of Report (Date of
earliest event reported): January 27, 2004</p>



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  <br>
  Argan, Inc.</p>
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  <p class=MsoNormal align=center style='text-align:center;text-autospace:none'>(Exact name of
  registrant as specified in its charter)</p>
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<p class=MsoNormal align=center style='text-align:center;text-autospace:none'>Formerly Puroflow
Incorporated</p>



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  padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center;text-autospace:none'>Delaware</p>
  </td>
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  <td width=353 valign=top style='width:264.6pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center;text-autospace:none'>(State or other
  jurisdiction of incorporation)</p>
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<p>&nbsp;</p>



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  <p class=MsoNormal align=center style='text-align:center;text-autospace:none'>001-31756</p>
  </td>
  <td width=56 valign=top style='width:42.3pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
  <td width=211 valign=top style='width:2.2in;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center;text-autospace:none'>13-1947195</p>
  </td>
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  <td width=220 valign=top style='width:164.7pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center;text-autospace:none'>(Commission File
  Number)</p>
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  </td>
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  <p class=MsoNormal align=center style='text-align:center;text-autospace:none'>(I.R.S. Employer I.D.
  Number)</p>
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  &nbsp;</td>
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  </td>
  <td width=211 valign=top style='width:2.2in;padding:0in 5.4pt 0in 5.4pt'>

  </td>
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  &nbsp;</td>
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  &nbsp;</td>
  <td width=211 valign=top style='width:2.2in;padding:0in 5.4pt 0in 5.4pt'>

  &nbsp;</td>
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  <td width=220 valign=top style='width:164.7pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center;text-autospace:none'>One Church Street</p>
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  </td>
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  <p class=MsoNormal align=center style='text-align:center;text-autospace:none'>Suite 302</p>
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  </td>
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  padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center;text-autospace:none'>Rockville, MD</p>
  </td>
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  </td>
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  padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center;text-autospace:none'>20850</p>
  </td>
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  <p class=MsoNormal align=center style='text-align:center;text-autospace:none'>(Address of Principal
  Executive Offices)</p>
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  <p class=MsoNormal align=center style='text-align:center;text-autospace:none'>(Zip Code)</p>
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<p>&nbsp;</p>





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  <p class=MsoNormal align=center style='text-align:center;text-autospace:none'>(301) 315-0027</p>
  </td>
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  <td width=360 valign=top style='width:269.8pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center;text-autospace:none'>(Registrant's
  telephone number; including area code)</p>
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<p class="MsoNormal" align="center" style="text-autospace: none">&nbsp;</p>
<p class="MsoNormal" align="center" style="text-autospace: none">&nbsp;</p>



<p class="MsoNormal" align="center" style="text-autospace: none">&nbsp;</p>



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<p class=MsoNormal style='margin-bottom:12.0pt;page-break-after:avoid;
text-autospace:none'><b>ITEM 5</b>.&nbsp; <b>Other Events</b></p>

<p class=MsoBodyTextFirstIndent style='text-align:justify; text-indent:0.5in'>On October 31, 2003, Argan, Inc. (&quot;AI&quot; or the &quot;Company&quot;), sold its wholly owned subsidiary,
Puroflow Incorporated (&quot;PI&quot;), through which AI conducted the manufacture and
sale of filtration products.&nbsp; In accordance with generally accepted accounting
principles (&quot;GAAP&quot;), the Company's Form 10-QSB for the third quarter ended
October 31, 2003 (the &quot;2003 Third Quarter Report&quot;) reflected PI as a
discontinued operation for the three and nine month periods ended October 31,
2003 and the comparative periods for 2002.</p>

<p class=MsoBodyTextFirstIndent style='text-align:justify; text-indent:0.5in'>The purpose of this
report is to conform the presentation of information in the Company's Form 10-KSB
for its fiscal year ended January 31, 2003, with the presentation reported in the
2003 Third Quarter Report reflecting PI as a discontinued operation.&nbsp; The
restatement of the financial statements for the fiscal years ended January 31, 2002 and 2003 is also in connection with Registration Statement on Form S-3 of
the Company.&nbsp; In Exhibit 99.1, which is filed herewith and incorporated by
reference herein, the Company has reflected PI as a discontinued operation in
its consolidated financial statements (updating Items 7 and 13 of the Company's
January 31, 2003 10-KSB) for the fiscal years ended January 31, 2002 and 2003
(the &quot;Annual Financial Statements&quot;) and made conforming changes to Item 6. (Management's
Discussion and Analysis or Plan of Operation).&nbsp; Revenues related to PI were
approximately $7.2 million and $6.8 million for the years ended January 31, 2002 and 2003, respectively.&nbsp; Pre-tax income related to PI was approximately $.5
million and $.4 million for the years ended January 31, 2002 and 2003, respectively. </p>

<p class=MsoBodyTextFirstIndent style='text-align:justify; text-indent:0.5in'>The foregoing
changes have been made solely to maintain conformity to the reporting format
presented in the 2003 Third Quarter Report.&nbsp; The Company has not modified or
updated any information presented in the January 31, 2003 Form 10-KSB, other than as required to reflect the effects of the items described above.</p>

<p class=MsoBodyTextFirstIndent style='text-align:justify; text-indent:0.5in'>Because this report
contains financial statements, the Company has included below the statement
regarding its controls and procedures as required by applicable law: </p>

<p class=MsoBlockText style='text-align:justify; margin-left:1in; margin-right:1in'>We have established disclosure
controls and procedures to ensure that material information relating to us,
including our consolidated subsidiaries, is made known to the officers who
certify our financial reports and to other members of senior management and the
Board of Directors. </p>

<p class=MsoBlockText style='text-align:justify; margin-left:1in; margin-right:1in'>Based on their evaluation as
of the end of the period covered by this Current Report on Form 8-K, our
principal executive officer and principal financial officer have concluded that
our disclosure controls and procedures are effective to ensure that the
information required to be disclosed by us in reports that we file or submit
under the Securities Exchange Act of 1934 is recorded, processed, summarized
and reported within the time periods specified in SEC rules and forms. </p>

<p class=MsoBlockText style='text-align:justify; margin-left:1in; margin-right:1in'>There were no significant
changes in our internal control over financial reporting that occurred during
our most recent fiscal quarter that have materially affected, or are reasonably
likely to materially affect, our internal control over financial reporting. </p>

<p class=MsoBodyTextFirstIndent style='text-align:justify; text-indent:0.5in'>The chief executive
officer and chief financial officer of the Company have provided the
certifications required by Sections 302 and 906 of the Sarbanes-Oxley Act of
2002, as Exhibits 31.1, 31.2, 32.1 and 32.2. </p>

<b>
<p class="MsoBodyTextFirstIndent" style="text-align: justify; text-indent: 0.5in">&nbsp;</p>
<p class="MsoBodyTextFirstIndent" style="text-align: justify; text-indent: 0.5in">&nbsp;</p>
</b>

<p class="MsoBodyTextFirstIndent" style="text-align: center; ">2</p>

<b>
<hr color="#000080"><br clear=all
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</b>

<p class=Item style='text-align:justify'>ITEM 7.&nbsp; Financial Statements, Pro Forma
Financial Information and Exhibits:</p>

<p class=MsoNormal style='margin-left:.5in;text-align:justify'>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits:</p>



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  <p class=MsoNormal style='text-align:justify;text-autospace:none'>23.1</p>
  </td>
  <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-align:justify;text-autospace:none'>Consent of
  Independent Auditors</p>
  </td>
 </tr>
 <tr>
  <td width=60 valign=top style='width:45.0pt;padding:0in 5.4pt 0in 5.4pt'>
  &nbsp;</td>
  <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'>
  &nbsp;</td>
 </tr>
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  <td width=60 valign=top style='width:45.0pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-align:justify;text-autospace:none'>31.1</p>
  </td>
  <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-align:justify;text-autospace:none'>Certification
  of CEO required by Section 302 of the Sarbanes-Oxley Act of 2002.</p>
  </td>
 </tr>
 <tr>
  <td width=60 valign=top style='width:45.0pt;padding:0in 5.4pt 0in 5.4pt'>

  &nbsp;</td>
  <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
 </tr>
 <tr>
  <td width=60 valign=top style='width:45.0pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-align:justify;text-autospace:none'>31.2</p>
  </td>
  <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-align:justify;text-autospace:none'>Certification
  of CFO required by Section 302 of the Sarbanes-Oxley Act of 2002.</p>
  </td>
 </tr>
 <tr>
  <td width=60 valign=top style='width:45.0pt;padding:0in 5.4pt 0in 5.4pt'>

  &nbsp;</td>
  <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
 </tr>
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  <td width=60 valign=top style='width:45.0pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-align:justify;text-autospace:none'>32.1</p>
  </td>
  <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-align:justify;text-autospace:none'>Certification
  of CEO required by Section 906 of the Sarbanes-Oxley Act of 2002.</p>
  </td>
 </tr>
 <tr>
  <td width=60 valign=top style='width:45.0pt;padding:0in 5.4pt 0in 5.4pt'>

  &nbsp;</td>
  <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
 </tr>
 <tr>
  <td width=60 valign=top style='width:45.0pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-align:justify;text-autospace:none'>32.2</p>
  </td>
  <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-align:justify;text-autospace:none'>Certification
  of CFO required by Section 906 of the Sarbanes-Oxley Act of 2002.</p>
  </td>
 </tr>
 <tr>
  <td width=60 valign=top style='width:45.0pt;padding:0in 5.4pt 0in 5.4pt'>

  &nbsp;</td>
  <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
 </tr>
 <tr>
  <td width=60 valign=top style='width:45.0pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-align:justify;text-autospace:none'>99.1</p>
  </td>
  <td width=529 valign=top style='width:396.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-align:justify;text-autospace:none'>Consolidated
  Financial Statements of the Company and Report of the Company's&nbsp; Independent
  Auditors for the fiscal years ended January 31, 2002 and 2003, and related
  conforming changes to Item 6 (Management's Discussion and Analysis or Plan of
  Operation) of the Company's Form 10-KSB for the fiscal year ended January 31,
  2003 </p>
  </td>
 </tr>
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<p class="MsoNormal" style="text-align: justify; text-autospace: none">&nbsp;</p>
<p class="MsoNormal" style="text-align: center; text-autospace: none">3</p>



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<p class=MsoNormal align=center style='text-align:center'>SIGNATURES</p>

<p class=MsoBodyTextFirstIndent style='text-align:justify; text-indent:0.5in'>Pursuant to the
requirements of the Securities Exchange Act of 1934, as amended, the Registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</p>

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  </td>
  <td width=343 valign=top style='width:257.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>ARGAN, INC.</p>
  </td>
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  </td>
  <td width=115 valign=top style='width:86.0pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
  <td width=343 valign=top style='width:257.4pt;padding:0in 5.4pt 0in 5.4pt'>

  &nbsp;</td>
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  <td width=229 valign=top style='width:171.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>Date: January 27, 2004</p>
  </td>
  <td width=115 valign=top style='width:86.0pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
  <td width=343 valign=top style='width:257.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>By:&nbsp; <u>/s/ Rainer H. Bosselmann</u></p>
  </td>
 </tr>
 <tr>
  <td width=229 valign=top style='width:171.4pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
  <td width=115 valign=top style='width:86.0pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
  <td width=343 valign=top style='width:257.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='margin-left:26.1pt'>Rainer H. Bosselmann</p>
  </td>
 </tr>
 <tr>
  <td width=229 valign=top style='width:171.4pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
  <td width=115 valign=top style='width:86.0pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
  <td width=343 valign=top style='width:257.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='margin-left:26.1pt'>Chairman of the Board and</p>
  </td>
 </tr>
 <tr>
  <td width=229 valign=top style='width:171.4pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
  <td width=115 valign=top style='width:86.0pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
  <td width=343 valign=top style='width:257.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='margin-left:26.1pt'>Chief Executive Officer</p>
  </td>
 </tr>
</table>



<p class="MsoNormal" style="margin-left: 26.1pt">&nbsp;</p>
<p class="MsoNormal" style="margin-left: 26.1pt">&nbsp;</p>
<p class="MsoNormal" style="margin-left: 26.1pt">&nbsp;</p>
<p class="MsoNormal" style="margin-left: 26.1pt">&nbsp;</p>
<p class="MsoNormal" style="margin-left: 26.1pt">&nbsp;</p>
<p class="MsoNormal" align="center">4</p>



<hr color="#000080"><br clear=all
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<p class=MsoNormal align=center style='text-align:center'><b>EXHIBIT INDEX</b></p>



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  <p class=MsoNormal style='text-autospace:none'><u>Number</u> </p>
  </td>
  <td width=607 valign=top style='width:455.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-align:justify;text-autospace:none'><u>Description
  </u></p>
  </td>
 </tr>
 <tr>
  <td width=79 valign=top style='width:59.4pt;padding:0in 5.4pt 0in 5.4pt'>
  &nbsp;</td>
  <td width=607 valign=top style='width:455.4pt;padding:0in 5.4pt 0in 5.4pt'>
  &nbsp;</td>
 </tr>
 <tr>
  <td width=79 valign=top style='width:59.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-autospace:none'>23.1</p>
  </td>
  <td width=607 valign=top style='width:455.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-align:justify;text-autospace:none'>Consent of
  Independent Auditors</p>
  </td>
 </tr>
 <tr>
  <td width=79 valign=top style='width:59.4pt;padding:0in 5.4pt 0in 5.4pt'>

  &nbsp;</td>
  <td width=607 valign=top style='width:455.4pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
 </tr>
 <tr>
  <td width=79 valign=top style='width:59.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-autospace:none'>31.1</p>
  </td>
  <td width=607 valign=top style='width:455.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-align:justify;text-autospace:none'>Certification
  of CEO required by Section 302 of the Sarbanes-Oxley Act of 2002.</p>
  </td>
 </tr>
 <tr>
  <td width=79 valign=top style='width:59.4pt;padding:0in 5.4pt 0in 5.4pt'>

  &nbsp;</td>
  <td width=607 valign=top style='width:455.4pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
 </tr>
 <tr>
  <td width=79 valign=top style='width:59.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-autospace:none'>31.2</p>
  </td>
  <td width=607 valign=top style='width:455.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-align:justify;text-autospace:none'>Certification
  of CFO required by Section 302 of the Sarbanes-Oxley Act of 2002.</p>
  </td>
 </tr>
 <tr>
  <td width=79 valign=top style='width:59.4pt;padding:0in 5.4pt 0in 5.4pt'>

  &nbsp;</td>
  <td width=607 valign=top style='width:455.4pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
 </tr>
 <tr>
  <td width=79 valign=top style='width:59.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-autospace:none'>32.1</p>
  </td>
  <td width=607 valign=top style='width:455.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-align:justify;text-autospace:none'>Certification
  of CEO required by Section 906 of the Sarbanes-Oxley Act of 2002.</p>
  </td>
 </tr>
 <tr>
  <td width=79 valign=top style='width:59.4pt;padding:0in 5.4pt 0in 5.4pt'>

  &nbsp;</td>
  <td width=607 valign=top style='width:455.4pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
 </tr>
 <tr>
  <td width=79 valign=top style='width:59.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-autospace:none'>32.2</p>
  </td>
  <td width=607 valign=top style='width:455.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-align:justify;text-autospace:none'>Certification
  of CFO required by Section 906 of the Sarbanes-Oxley Act of 2002.</p>
  </td>
 </tr>
 <tr>
  <td width=79 valign=top style='width:59.4pt;padding:0in 5.4pt 0in 5.4pt'>

  &nbsp;</td>
  <td width=607 valign=top style='width:455.4pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
 </tr>
 <tr>
  <td width=79 valign=top style='width:59.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>99.1</p>
  </td>
  <td width=607 valign=top style='width:455.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='text-align:justify'>Consolidated Financial
  Statements of the Company and Report of the Company's Independent Auditors
  for the fiscal years ended January 31, 2002 and 2003, and related conforming
  changes to Item 6 (Management's Discussion and Analysis or Plan of Operation)
  of the Company's Form 10-KSB for the fiscal year ended January 31, 2003</p>
  </td>
 </tr>
</table>



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<p class="MsoNormal" style="text-align: center">5</p>

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{"company-data": {"conformed-name": "ARGAN INC", "cik": "0000100591", "assigned-sic": "3569", "irs-number": "131947195", "state-of-incorporation": "DE", "fiscal-year-end": "0131"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-31756", "film-number": "04546908"}, "business-address": {"street1": "ONE CHURCH STREET", "street2": "SUITE 302", "city": "ROCKVILLE", "state": "MD", "zip": "20850", "phone": "301 315-0027"}, "mail-address": {"street1": "ONE CHURCH STREET", "street2": "SUITE 302", "city": "ROCKVILLE", "state": "MD", "zip": "20850"}, "former-company": [{"former-conformed-name": "PUROFLOW INC", "date-changed": "19920703"}, {"former-conformed-name": "ULTRA DYNAMICS CORP", "date-changed": "19830522"}]}
Argan 8-K
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13
OR 15(d) OF THE
SECURITIES EXCHANGE ACT
OF 1934
Date of Report (Date of
earliest event reported): January 27, 2004
Argan, Inc.
(Exact name of
  registrant as specified in its charter)
Formerly Puroflow
Incorporated
Delaware
(State or other
  jurisdiction of incorporation)
001-31756
13-1947195
(Commission File
  Number)
(I.R.S. Employer I.D.
  Number)
One Church Street
Suite 302
Rockville, MD
20850
(Address of Principal
  Executive Offices)
(Zip Code)
(301) 315-0027
(Registrant's
  telephone number; including area code)
ITEM 5
.
Other Events
On October 31, 2003, Argan, Inc. ("AI" or the "Company"), sold its wholly owned subsidiary,
Puroflow Incorporated ("PI"), through which AI conducted the manufacture and
sale of filtration products.  In accordance with generally accepted accounting
principles ("GAAP"), the Company's Form 10-QSB for the third quarter ended
October 31, 2003 (the "2003 Third Quarter Report") reflected PI as a
discontinued operation for the three and nine month periods ended October 31,
2003 and the comparative periods for 2002.
The purpose of this
report is to conform the presentation of information in the Company's Form 10-KSB
for its fiscal year ended January 31, 2003, with the presentation reported in the
2003 Third Quarter Report reflecting PI as a discontinued operation.  The
restatement of the financial statements for the fiscal years ended January 31, 2002 and 2003 is also in connection with Registration Statement on Form S-3 of
the Company.  In Exhibit 99.1, which is filed herewith and incorporated by
reference herein, the Company has reflected PI as a discontinued operation in
its consolidated financial statements (updating Items 7 and 13 of the Company's
January 31, 2003 10-KSB) for the fiscal years ended January 31, 2002 and 2003
(the "Annual Financial Statements") and made conforming changes to Item 6. (Management's
Discussion and Analysis or Plan of Operation).  Revenues related to PI were
approximately $7.2 million and $6.8 million for the years ended January 31, 2002 and 2003, respectively.  Pre-tax income related to PI was approximately $.5
million and $.4 million for the years ended January 31, 2002 and 2003, respectively.
The foregoing
changes have been made solely to maintain conformity to the reporting format
presented in the 2003 Third Quarter Report.  The Company has not modified or
updated any information presented in the January 31, 2003 Form 10-KSB, other than as required to reflect the effects of the items described above.
Because this report
contains financial statements, the Company has included below the statement
regarding its controls and procedures as required by applicable law:
We have established disclosure
controls and procedures to ensure that material information relating to us,
including our consolidated subsidiaries, is made known to the officers who
certify our financial reports and to other members of senior management and the
Board of Directors.
Based on their evaluation as
of the end of the period covered by this Current Report on Form 8-K, our
principal executive officer and principal financial officer have concluded that
our disclosure controls and procedures are effective to ensure that the
information required to be disclosed by us in reports that we file or submit
under the Securities Exchange Act of 1934 is recorded, processed, summarized
and reported within the time periods specified in SEC rules and forms.
There were no significant
changes in our internal control over financial reporting that occurred during
our most recent fiscal quarter that have materially affected, or are reasonably
likely to materially affect, our internal control over financial reporting.
The chief executive
officer and chief financial officer of the Company have provided the
certifications required by Sections 302 and 906 of the Sarbanes-Oxley Act of
2002, as Exhibits 31.1, 31.2, 32.1 and 32.2.
2
ITEM 7.  Financial Statements, Pro Forma
Financial Information and Exhibits:
(c)        Exhibits:
23.1
Consent of
  Independent Auditors
31.1
Certification
  of CEO required by Section 302 of the Sarbanes-Oxley Act of 2002.
31.2
Certification
  of CFO required by Section 302 of the Sarbanes-Oxley Act of 2002.
32.1
Certification
  of CEO required by Section 906 of the Sarbanes-Oxley Act of 2002.
32.2
Certification
  of CFO required by Section 906 of the Sarbanes-Oxley Act of 2002.
99.1
Consolidated
  Financial Statements of the Company and Report of the Company's  Independent
  Auditors for the fiscal years ended January 31, 2002 and 2003, and related
  conforming changes to Item 6 (Management's Discussion and Analysis or Plan of
  Operation) of the Company's Form 10-KSB for the fiscal year ended January 31,
  2003
3
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, as amended, the Registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
ARGAN, INC.
Date: January 27, 2004
By:
/s/ Rainer H. Bosselmann
Rainer H. Bosselmann
Chairman of the Board and
Chief Executive Officer
4
EXHIBIT INDEX
Number
Description
23.1
Consent of
  Independent Auditors
31.1
Certification
  of CEO required by Section 302 of the Sarbanes-Oxley Act of 2002.
31.2
Certification
  of CFO required by Section 302 of the Sarbanes-Oxley Act of 2002.
32.1
Certification
  of CEO required by Section 906 of the Sarbanes-Oxley Act of 2002.
32.2
Certification
  of CFO required by Section 906 of the Sarbanes-Oxley Act of 2002.
99.1
Consolidated Financial
  Statements of the Company and Report of the Company's Independent Auditors
  for the fiscal years ended January 31, 2002 and 2003, and related conforming
  changes to Item 6 (Management's Discussion and Analysis or Plan of Operation)
  of the Company's Form 10-KSB for the fiscal year ended January 31, 2003
5