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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
Date of Report (Date of earliest event reported): November 25, 1997
JAVELIN SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
0-21477 52-1945748
(Commission File No.) (IRS Employer Identification No.)
1881 Langley Avenue
Irvine, California 92614
(Address of principal executive offices and zip code)
Registrant's telephone number, including area code: (714) 223-5130
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Item 5. Other Events.
On November 25, 1997, Javelin Systems, Inc. ("Javelin") announced that it
had entered into a letter of intent with Posnet Computers, Inc., a California
corporation ("Posnet") whereby Javelin would acquire all of the outstanding
capital stock of Posnet. In addition, Javelin announced that it had entered into
a second letter of intent with CCI Group Inc., a Missouri corporation ("CCI"),
whereby Javelin would acquire all of the outstanding capital stock of CCI and
its affiliated entities. Javelin hereby incorporates by reference the contents
of the news release announcing the signing of the letters of intent filed as
Exhibit 99.1 to this report.
2.
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Item 7. Financial Statements and Exhibits.
(c) Exhibits.
99.1 News Release dated November 25, 1997.
3.
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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.
Javelin Systems, Inc.
Dated: December 8, 1997 By: /s/ RICHARD P. STACK
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Richard P. Stack
Chief Executive Officer and President
4.
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INDEX TO EXHIBITS
99.1 News Release dated November 25, 1997.
5.
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EXHIBIT 99.1
[LETTERHEAD OF JAVELIN SYSTEMS, INC.]
NEWS RELEASE
FOR RELEASE IMMEDIATELY
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Contact: Marty Tullio
IRO
Javelin Systems, Inc.
714/223-5130
JAVELIN SIGNS LETTERS OF INTENT WITH CCI GROUP, INC., AND
POSNET COMPUTERS, INC.
IRVINE, CA (November 25, 1997) ..... Javelin Systems, Inc. (Nasdaq:JVLN) today
announced that it has signed a letter of intent to acquire St. Louis, MO-based
CCI Group Incorporated. The Company also announced that it has signed a second
letter of intent to acquire Huntington Beach, CA-based Posnet Computers, Inc.
The consummation of the acquisitions are subject to a number of conditions,
including among others, the satisfactory completion of due diligence and the
negotiation and execution of definitive agreements, both of which are expected
to be completed within the next 60 days. Further terms were not disclosed.
CCI Group, the parent of Custom Configurations, Inc., CCI Technology
Service Co., Inc., SourceLink, Inc., and CCI Payment Systems, provides
consulting services and a full complement of after-installation support for
point of sale solutions within the foodservice industry and bill payment
markets. Posnet Computers is a privately held company providing pre-installation
support and field service for point of sale computers within various segments of
the foodservice industry.
Javelin President and CEO Richard P. Stack commented, "The acquisition of
CCI and Posnet would provide us the ability to offer third-party maintenance
services to
MORE-MORE-MORE
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JAVELIN SIGNS LETTER OF INTENT
Page 2-2-2
support our 250 system integrators located throughout the U.S. and target large
multi-national foodservice companies with a turnkey hardware and maintenance
solution."
Javelin Systems, Inc. designs, develops, markets and sells open system,
network-ready touchscreen computers primarily to the foodservice, retail and
industrial markets. The Company's computers integrate substantially all of the
functionality of a standard desktop PC into a small footprint, network-ready
package and run on industry standard operating systems, such as Microsoft's DOS,
Windows, Windows 95 and Windows NT. The Company's touchscreen computers are
distributed domestically and internationally through a network of system
integrators and Original Equipment Manufacturers (OEMs).
The statements in this press release that relate to future plans, including the
consummation of the above mentioned transactions, or events are forward-looking
statements that involve risks and uncertainties, including among others, the
failure to consummate the transactions in a timely manner, if at all. Actual
events may differ materially. Readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the date hereof. The
Company undertakes no obligation to release publicly the result of any revisions
to these forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
