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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: May 3, 2000
VOLU-SOL, INC.
(Exact name of registrant as specified in its charter)
Commission File Number: 0-23153
Utah 87-0543981
(State of Incorporation) (I.R.S. Employer Identification No.)
5095 West 2100 South
Salt Lake City, Utah 84120
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (801) 974-9474
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ITEM 5. OTHER EVENTS
On April 11, 2000, the board of directors of the Registrant announced a reverse
split of its Common Stock issued and outstanding, to become effective April 28,
2000. The action reduces the number of issued and outstanding shares of the
Registrant's Common Stock at a ratio of 1 for 5. Prior to the reverse split, the
Registrant had a total of 12,221,092 shares of Common Stock issued and
outstanding. After giving effect to the reverse split, there are 2,444,219
shares of Common Stock issued and outstanding.
The reverse split as adopted by the Company's board of directors did not require
a change in the par value of the Company's Common Stock. Therefore, both before
and after the reverse split, the par value of the Company's Common Stock is
$.0001 per share. In addition, the Board of Directors has not authorized a
change in the authorized number of shares of Common Stock or any other class of
securities of the Company. Therefore, both before and after the reverse split,
the authorized number of shares of Common Stock would continue to be 50,000,000
shares.
Outstanding options, warrants and preferred stock convertible to Common Stock
will be adjusted according to the terms of the instruments evidencing such
rights and shares, reducing the number of shares that may be acquired by
exercise or conversion, as the case may be, by the same 1 for 5 ratio and
increasing the exercise price in the case of the options and warrants, by 5
times the current price. No other rights or interests are affected by the
change.
The board of directors determined that the reverse split was in the best
interest of the Registrant to enable the Registrant to attract more investment
capital and to prepare the Registrant for the trading of its common stock on the
OTC Bulletin Board.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report, as amended, to be signed on its behalf
by the undersigned thereunto duly authorized.
VOLU-SOL, INC.
(Registrant)
By: /s/ Michael G. Acton
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Date: May 3, 2000 Michael G. Acton
Acting Chief Financial Officer
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