UNITED STATES
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):
November 15, 1999
Exigent International, Inc.
(Exact name of Registrant as specified in its charter)
Delaware 333-5733 59-3379927
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
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1225 Evans Road
Melbourne, Florida 32904-2314
407-952-7550
(Address, zip code and telephone number of principal executive offices)
(Registrant's telephone number including area code)
<PAGE>
Item 5. Other Events
On November 12, 1999 Exigent International, Inc. issued a press release
announcing that Larry W. Whitfield has been named President of its subsidiary
Software Technology, Inc. (STI). The text of the press release is attached
hereto as Exhibit 99.
Item 7. Financial Statements and Exhibits
(c) The following documents are furnished as exhibits to this report:
Exhibit Page
Number Description Number
- ------- ----------- ------
99 Press Release of the Registrant, 4
dated November 12, 1999
<PAGE>
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, thereunto duly authorized.
Exigent International, Inc.
November 15, 1999 By: /s/ B.R. Smedley
- ----------------- ----------------------------------------------
Date B.R. "Bernie" Smedley, Chief Executive Officer
<PAGE>
Exhibit 99
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FOR IMMEDIATE RELEASE
Exigent International Appoints Larry W. Whitfield
President of Software Technology, Inc.
MELBOURNE, FL, November 12, 1999 - Exigent International, Inc. (NASDAQ
SmallCap Market(R): XGNT; Chicago Stock Exchange:XNT) announced today that Larry
W. Whitfield will take over President of its subsidiary Software Technology,
Inc. (STI).
Mr. Whitfield is an experienced senior executive with a highly successful
track record. He brings 25 years of marketing and operations expertise to STI.
He has held executive positions at Lockheed, Tektronix and Harris Corporation.
During the last three years at Harris Corporation, he served as Vice President
for the Government Communications division, a $200 million business segment.
While at Lockheed Martin, he formed commercial joint ventures including
Lockheed-Khrunichev-Energia, a joint partner company for marketing the Russian
built Proton launch vehicle, Qualcast, a Northern Europe and Middle East based
Direct Broadcast Satellite System, and Astrolink, a worldwide broadband
communications network.
Prior to his work at Harris Corporation, Mr. Whitfield held various program
management positions at Lockheed and Tektronix, serving in Air Force, NASA,
Navy, and Army programs. Mr. Whitfield holds a BS degree from a California State
University and is a Santa Clara University MBA candidate. He is a graduate of
Stanford University's Effective Management of Production Operations, Lockheed's
Leadership Institute, Lockheed-Martin's Strategic Leadership Program and
Wharton's Executive Development Program.
B.R. "Bernie" Smedley, Exigent's Chairman and CEO, said, "I am very pleased
that Larry has accepted this challenging new assignment, in which he will
provide strong marketing and operations leadership for STI. The company's growth
in the government sector and our increasing complexity, together with our plans
for future expansion, make this an appropriate time to strengthen our corporate
management team. Larry's appointment will allow me to focus more attention on
our strategies to enhance growth and profitability as well as the implementation
of our new IT initiative, while ensuring that STI's historic strength in the
space industry and our customer support continues."
Larry W. Whitfield added, "I am extremely excited about my new role in
Exigent. Having reviewed the strategy and technology of the company, I am
convinced that they have the potential to become a very powerful force in the
telecommunications industry. I look forward to working with the existing
management team, and am confident that my experience will greatly aid the
development of its businesses going forward."
pr_ex117------------------------------
Exigent International, Inc. (www.xgnt.com) is a publicly traded holding company,
formed in 1996 to capitalize on emerging high-technology opportunities. World
headquarters are in Melbourne, Florida, USA. Other Exigent sites include
Washington, D.C., Alexandria and Chantilly VA, Gaithersburg and La Plata MD,
Stennis Space Center MS, Denver and Colorado Springs CO, and Mesa AZ
Exigent's operating subsidiaries are:
Software Technology, Inc.(STI), specializing in command and control solutions.
STI's flagship software product OS/COMET(R) controls satellite constellations
including the IRIDIUM(R) global communication system (which now has more than 70
satellites aloft) and the NAVSTAR Global Positioning System (GPS). These are the
two largest in the world.
Since 1978, STI has enjoyed long-standing relationships with such corporate
clients as Motorola, Lockheed-Martin, Loral, GE Astrospace, and Harris
Corporation, and with government agencies that include NASA, the USAF, and the
U.S. Navy's Naval Research Laboratory (NRL) (see www.sticomet.com).
Fototag, Inc., developer of the FotoTag(R) system. This innovative unit develops
advanced systems that track location and movement of people, baggage, and
products (see www.fototag.com).
Middleware Solutions, Inc. (M/Ware), developer of the InterPlay(TM) Active
Messaging System (see www.mware.com).
For financial information and investor relations, contact Exigent's CFO, Jeffery
Weinress ([email protected]). For general information, contact our Vice
President of Marketing, Dennis Lunder ([email protected]), or use one of these
numbers: 407/952-7550, 888/952-XGNT, 407/676-4510 (Fax)
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
In accordance with the safe harbor provisions of the Private Securities
Litigation reform Act of 1995, the Company notes that statements in this press
release, and elsewhere, that look forward in time, which include everything
other than historical information, involve risks and uncertainties that may
affect the Company's actual results of operations. The following important
factors, among others that are discussed in company filings with the Securities
and Exchange Commission, could cause actual results to differ materially from
those set forth in the forward-looking statements:
a) certain space-based projects may never receive project financing;
b) our products may not be accepted by the market;
c) we may have difficulty in hiring and retaining key personnel; and
d) quarterly fluctuations in operating results may be caused by i)
increased competition in the aerospace defense industry due to the
overall trend toward industry consolidation; ii) the introduction and
market acceptance of new technologies and standards, including command
and control solutions; iii) variations in sales channels, product
costs, or mix of products sold; iv) the timing of orders; and v)
changes in general economic conditions and specific economic conditions
in the aerospace defense industry.
Notices
OS/COMET and FotoTag are registered trademarks and InterPlay Active Messaging
System is a trademark of Exigent International, Inc. All other trademarks are
the property.
