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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
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Date of Report (Date of earliest event reported) July 8, 1999
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BRISTOL RETAIL SOLUTIONS, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-21633 58-2235556
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(State or other jurisdiction (Commission File (IRS Employer
or incorporation) Number) Identification No.)
500 Birch Street, Suite 205, Newport Beach, California 92660
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(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code (949) 475-0800
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(Former name or former address, if changed since last report)
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ITEM 5. Other Events
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The Company has entered into Settlement Agreements with former members
of its management, Mr. Richard Walker and Mr. Paul Spindler. Mr.
Lawrence Cohen, the Company=s Chairman is also a party to these
Settlement Agreements entered into with Msrs. Walker and Spindler.
Under the terms of the separate Settlement Agreements, the parties
dismissed various pending actions (Lawrence Cohen v. Richard H.
Walker, Paul Spindler and Does 1-10 inclusive, U.S. District Court,
Central District of California, Case No. 99-00295 RSWL(MCX) and
Richard H. Walker v. Bristol Retail Solutions, Inc. and Does 1-10,
inclusive, Orange County, California Superior Court, Case No.
808-119). The parties exchanged general releases as part of the
Settlement Agreements. Under the terms of the Settlement Agreement, as
amended, with Paul Spindler and the Spindler Family Trust, the Company
has agreed to pay the compensation owing to Mr. Spindler under his
previous Consulting Agreement with the Company in the amount of
$40,000 not later than September 9, 1999 or prior thereto in the event
the Company completes certain financing. The Spindler Family Trust has
also agreed to sell to the Company 595,478 shares of Common Stock of
the Company owned by the Trust for $83,366.92 at any time on or prior
to September 9, 1999 or prior thereto in the event that certain
financing occurs. The Company has not acquired any of its shares from
the Spindler Family Trust as of the date hereof. Under the Settlement
Agreement with Richard Walker, the Walker Family Trust has provided
Mr. Cohen and certain third parties unrelated to the Company the right
to purchase 710,477 shares of Common Stock of the Company for an
aggregate consideration of $100,000.00 at any time on or prior to
September 30, 1999. This purchase right was exercised on July ____,
1999.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Company has duly caused this report to be signed on its behalf by the
undersigned herein duly authorized.
BRISTOL RETAIL SOLUTIONS, INC.
By: /s/ Lawrence Cohen
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Name: Lawrence Cohen
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Title: President
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Dated: July 30, 1999.
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