SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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First Amendment To
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): MARCH 22, 2000
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Banyan Corporation
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(Exact name of registrant as specified in its charter)
OREGON 000-26065 84-1346327
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(State of incorporation or (Commission (I.R.S. Employer
organization) File Number) Identification Number)
4740 Forge Rd., Bldg. #112, Colorado Springs, CO 80907
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (719) 531-5535
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ITEM 5. OTHER EVENTS.
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On March 22, 2000, the Registrant publicly disseminated a press release
announcing the addition of W. Bruce Leithead, III to its wholly-owned DoubleCase
Corporation management team as the new Vice President of Sales and Marketing.
The information contained in the press release is incorporated herein by
reference and filed as Exhibit 99.1 hereto.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
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(c) Exhibit.
99.1 The Registrant's Press Release dated March 22, 2000.
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.
BANYAN CORPORATION
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(Registrant)
Date: March 22, 2000 /s/ Cameron Yost
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Cameron Yost
President and CEO
EXHIBIT INDEX
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Exhibit Sequential
Number Description Page Number
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99.1 The Registrant's Press Release 3
dated March 22, 2000
[Exhibit 99.1 - Press Release]
BANYAN'S DOUBLECASE UNIT ANNOUNCES NEW VICE PRESIDENT OF SALES AND MARKETING
Colorado Springs, Colorado - March 22, 2000 - Banyan Corporation (NQB Pinks:
BANY) announces the addition of W. Bruce Leithead, III to its DoubleCase
management team as the new Vice President of Sales and Marketing. The Company
intends to make Mr. Leithead responsible for expanding DoubleCase's product
line, overseeing distribution territories and developing an independent national
sales force to promote DoubleCase's product lines. Mr. Leithead brings with him
to DoubleCase what the Company believes to be a wealth of knowledge of the
department store environment as well as managing independent retailers.
Mr. Leithead joins Doublecase with over nine years of experience in the athletic
footwear industry. Mr. Leithead previously did retail marketing work for Adidas
America where he was a a Key Account Manager. At Adidas Mr. Leithead was
involved with generating over $100 million in sales from two National Strategic
Accounts, participating in quarterly marketing sessions directed to the outcome
of new product introductions, and managing one of the largest single account
marketing budgets for Adidas. Prior to working with Adidas, Mr. Leithead held
the Director of Sales and Marketing position with Architectural Metal Furniture,
a division of Tate Fabricating, located in Tennessee. As the Director, he was
responsible for hiring its independent national sales force and took part in
overseeing the creation of all products presented at retail.
Mr. Leithead commented, "I am very excited to take on my new responsibilities at
DoubleCase. I believe that DoubleCase has never tapped into the powerful retail
channels available, and I look forward to spearheading that effort. In short
order I plan to begin building a national independent sales network and
introducing existing and new products into various retail channels; all of which
I believe will provide long-term benefits to Banyan and DoubleCase."
Banyan Corporation is a publicly traded holding company focused on investing in
and building a network of operating subsidiaries engaged in designing,
manufacturing and marketing products and services aimed at the personal computer
market, the notebook segment in particular which is also the fastest growing
segment of the personal computer industry, and Internet e-commerce. Banyan
currently sells a line of hard-sided protective carrying cases for notebook
computers under the DoubleCase and Showcase Technologies brand names. Banyan's
products are currently available through distribution from Ingram Micro and sold
through a wide variety of Internet e-commerce storefronts, computer mail order
catalogs, several of the largest U.S. computer retailers, Value Added Resellers
(VARs), a number of overseas vendors, and to the U.S. government.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for forward-looking statements. Certain information included in this press
release (as well as information included in oral statements or other written
statements made or to be made by Banyan Corporation) contains statements that
are forward-looking, such as statements relating to the future anticipated
direction of the high technology industry, plans for future expansion, various
business development activities, planed capital expenditures, future funding
sources, anticipated sales growth and potential contracts. Such forward-looking
information involves important risks and uncertainties that could significantly
affect anticipated results in the future and, accordingly, such results may
differ from those expressed in any forward-looking statements made by or on
behalf of Banyan Corporation. These risks and uncertainties include, but are not
limited to, those relating to development and expansion activities, dependence
on existing management, financing activities, domestic and global economic
conditions, changes in federal or state tax laws, and market competition
factors. For a description of additional risks and uncertainties, please refer
to Banyan's filings with the Securities and Exchange Commission.
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