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 13, 1997
BIOCONTROL TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
Pennsylvania 0-10822 25-1229323
(State of other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
300 Indian Springs Road, Indiana, Pennsylvania 15701
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (412) 349-1811
_________________________________________________________________
(Former name or former address,
if changes since last report.)
Item 1. Change in Control of Registrant.
Not applicable.
Item 2. Acquisition or Disposition of Assets.
Not applicable.
Item 3. Bankruptcy or Receivership.
Not applicable.
Item 4. Changes in Registrant's Certifying Accountant
Not applicable.
Item 5. Other Events.
On November 13, 1997, Biocontrol Technology, Inc. (NASDAQ:BICO)
announced today that the Company has obtained verbal commitments from 90% of
the investors who hold outstanding debentures to participate in an orderly
redemption plan. These investors represent nearly 99% of the cash involved in
this offering.
Item 6. Resignation of Registrant's Directors.
Not Applicable
Item 7. Financial Statement, Pro Forma Financial Information and Exhibits.
(a) Financial Statements and Businesses Acquired - Not Applicable.
(b) Pro Forma Financial Information - Not Applicable.
(c) Exhibits-Press Release
SIGNATURES
Pursuant to the requirement 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.
BIOCONTROL TECHNOLOGY, INC.
by /s/ Fred E. Cooper, CEO
DATED: November 13, 1997
BICO
BIOCONTROL TECHNOLOGY, INC
2275 Swallow Hill Road, Building 2500
Pittsburgh, PA 15220
Press Release
Release: Immediate
For More Information, Call:
Investors Media
Diane McQuaide Susan Taylor
1.412.429.0673 phone 1.412.279.9455 phone
1.412.279.9690 fax 1.412.279.9447 fax
BIOCONTROL TECHNOLOGY TAKES ACTION TO STABILIZE ITS STOCK
Pittsburgh, PA - November 13, 1997 - Biocontrol Technology, Inc. (Nasdaq:BICO)
Chief Executive Officer Fred E. Cooper announced at 12:00 p.m. this afternoon
that the Company has obtained verbal commitments from 90% of the investors who
hold outstanding debentures to participate in an orderly redemption plan.
These investors represent nearly 99% of the cash involved in this offering. Mr.
Cooper stated, "Our management team has felt very strongly that our stock is
tremendously undervalued, and, for that reason, we had to seek assistance from
some of our investors. Their cooperation will benefit our other shareholders
by controlling the dilution of our current shares outstanding and will help us
focus on increasing the overall value of the shares." The Company anticipates
having all documentation by the closing of the market this afternoon and will
provide the plan of redemption very shortly. Biocontrol Technology, Inc.
(www.bico.com) has its corporate offices in Pittsburgh, PA and is involved in
the development and manufacture of biomedical devices and environmental
products.
