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) April 30, 1998
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 April 30, 1998 Biocontrol Technology, Inc. (NASDAQ:BICO) announced
today that it is seriously considering the sale of part of its recently
acquired subsidiary, International Chemicals Technology, Inc. (ICTI), to one of
several interested investment groups. Biocontrol owns 58.4% of ICTI. The terms
currently under negotiations would give Biocontrol a multimillion dollar profit
and allow Biocontrol to retain a portion of ICTI which could provide profits
from ICTI's sales and generate additional monies if the investment group were
to take ICTI public. The structure of the potential sale would also capitalize
ICTI to assist in more rapid growth.
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
Fred E. Cooper, CEO
DATED: April 30, 1998
BICO
BIOCONTROL TECHNOLOGY, INC
2275 Swallow Hill Road, Building 2500
Pittsburgh, PA 15220
Press Release
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 CONSIDERING SALE OF ICTI SUBSIDIARY
Pittsburgh, PA - April 30, 1998 - Biocontrol Technology,
Inc. (Nasdaq:BICO) announced today that it is seriously
considering the sale of part of its recently acquired subsidiary,
International Chemicals Technology, Inc. (ICTI), to one of
several interested investment groups. Biocontrol owns 58.4% of
ICTI.
The terms currently under negotiations would give
Biocontrol a multimillion dollar profit and allow Biocontrol to
retain a portion of ICTI which could provide profits from ICTI's
sales and generate additional monies if the investment group were
to take ICTI public. The structure of the potential sale would
also capitalize ICTI to assist in more rapid growth.
Biocontrol purchased the controlling interest in ICTI, a
Florida company, because of its metal coating technology marketed
under the tradename cemkoter. Cemkote is an alternative for the
approximately ten million metric tons of chromium now used
annually worldwide for plating because cemkote and its
application technology deliver a significantly harder and more
abrasive resistant coating without the water and airborne toxic
emissions of chromium plating. Produced in a very stable bath
with a closed loop system that produces no water discharge and
clean exhaust air, cemkote is a cost-efficient and
environmentally friendly coating that can be applied to most
alloys, including all steels, titanium, and aluminum.
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.
