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U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): June 29, 1998
MODACAD, INC.
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(Exact name of small business issuer as specified in its charter)
California 33-31166 95-4145930
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(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification No.)
3861 Sepulveda Blvd., Culver City 90230
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (310) 751-2100
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Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events
Effective June 29, 1998, ModaCAD, Inc. ("ModaCAD") has amended its publishing
agreement with Broderbund Software, Inc. to provide Broderbund with an exclusive
license to the 3D Home Interiors(TM) software application.
Broderbund made a one-time royalty payment to ModaCAD of approximately $2
million for the perpetual license of 3D Home Interiors. The exclusive license
terms apply only to certain portions of the 3D Home Interiors product, not
ModaCAD's core visualization and digital content creation technologies and
catalogs. ModaCAD will also be available to Broderbund to provide ongoing
digital content services and enhancements. ModaCAD will continue deploying and
pursuing new licensing opportunities for e-commerce content managers with both
its digital content and its core technologies in the home design and home
furnishing industries as well as other broad market applications based upon
ModaCAD's core areas of competency.
"This license enables ModaCAD to more efficiently pursue its business
strategies. ModaCAD will be able to focus its resources in the content
management efforts associated with emerging e-commerce markets, including the
creation and licensing of digital content in the home design and home furnishing
arenas. At the same time, Broderbund will be taking the responsibility of the
efforts associated with the continued enhancement of the 3D Home Interiors
product line," said Maurizio Vecchione, ModaCAD's president and chief operating
officer.
ModaCAD is rapidly becoming a premier developer and supplier of digital content
management technology enabling advanced product visualization for electronic
commerce. For the past 10 years it has leveraged its core, patented rendering
technology into a variety of electronic merchandising products primarily
targeted at the home design, home furnishings, apparel and industrial design
industries.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ModaCAD, INC.
Date: August 12, 1998 By: /s/ LEE FREEDMAN
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Lee Freedman
Vice President, Finance and
Chief Financial Officer
