SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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
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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. Mr. Leithead
will be responsible for expanding DoubleCase's product line, distribution
territories and develop an independent national sales force to promote
DoubleCase's product lines. Mr. Leithead brings with him to DoubleCase 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 with adidas America as a Key Account Manager. At adidas he
was responsible for generating over $100 million in sales from two National
Strategic Accounts, participating in quarterly marketing sessions pinnacle 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
oversaw the creation of all products presented at retail.
Mr. Leithead commented, "I am very excited to take on my new responsibilities at
DoubleCase. DoubleCase has never tapped into the powerful retail channels, and
I look forward to spearheading that effort. In short order I will begin
building a national independent sales network and introducing existing and new
products into various retail channels; all of which 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
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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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