<PAGE> 1
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) October 8, 1999
---------------------------
SABRATEK CORPORATION
- --------------------------------------------------------------------------------
(Exact Name of Registrant as Specified in Its Charter)
Delaware 1-11831 36-3700639
- --------------------------------------------------------------------------------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
8111 North St. Louis, Skokie, Illinois 60076
- --------------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
(847) 720-2400
- --------------------------------------------------------------------------------
(Registrant's Telephone Number, Including Area Code)
Not Applicable
- --------------------------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
<PAGE> 2
ITEM 5: OTHER EVENTS.
On October 7, 1999, Sabratek Corporation announced that it will further
delay the filing of its Quarterly Report on Form 10-Q for the period ended June
30, 1999 until its Board of Directors reviews recently proposed adjustments to
certain previously reported financial results. The Board of Directors is also
considering other accounting issues raised by the Company's Chief Financial
Officer.
The proposed adjustments would reduce previously reported pre-tax
earnings for the reporting periods April 1, 1997 through March 31, 1999 by
approximately $39 million and relate primarily to reclassifying intangible
assets as expenses and accounting for amounts advanced to affiliated companies
as expenses rather than as loans.
Sabratek's Board of Directors began its review and consideration of
Sabratek's financial statements promptly following notification of these
matters. However, due to the magnitude and complexity of the proposed
adjustments and other accounting issues, Sabratek's Board of Directors has
determined that additional time is needed before it can recommend releasing
financial statements.
Sabratek did not file its June 30, 1999 Form 10-Q before meeting with
the NASDAQ Listing Qualifications Panel on October 7, 1999 to determine
Sabratek's continued eligibility to remain listed on the NASDAQ National Market.
If the NASDAQ Listing Qualifications Panel does not grant Sabratek's request for
additional time in which to file its June 30, 1999 Form 10-Q, Sabratek's common
stock may be delisted.
Sabratek further announced that it is making every effort to resolve
these issues expeditiously and report to shareholders promptly.
- 2 -
<PAGE> 3
SIGNATURES
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.
Date: October 8, 1999 By: /s/ Joseph Marshall
---------------- ----------------------------------
Joseph Marshall, Chief Executive Officer
- 3 -
