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) June 24, 1999
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.
Biocontrol Technology, Inc. announced today in response
to the recent drop in its stock value that nothing
material to the Company has occurred to cause such a
decline. The Company is in a solid financial position
and the Diasensor, Petrol Rem, and IDT subsidiaries are
all making excellent progress with their respective
projects and have added directors highly respected in
their fields. Biocontrol has had an 18% increase in
its staff with 6% being rehires of staff laid off at
the end of 1998 or beginning of 1999.
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: June 24, 1999
BICO
BIOCONTROL TECHNOLOGY, INC
2275 Swallow Hill Road, Building 2500
Pittsburgh, PA 15220
Press Release
Investors Media
Diane McQuaide Susan Taylor
1.412.429.0673 phone 1.412.429.0673 phone
1.412.279.9690 fax 1.412.279.5041 fax
BIOCONTROL SAYS NO MATERIAL REASON FOR STOCK DROP
Pittsburgh, PA - June 24, 1999 - Biocontrol Technology, Inc.
(OTCBB:BICO) announced today in response to the recent drop in
its stock value that nothing material to the Company has occurred
to cause such a decline.
On the contrary, the Company is in a solid financial
position and the Diasensor, Petrol Rem, and IDT subsidiaries are
all making excellent progress with their respective projects and
have added directors highly respected in their fields. Also,
Biocontrol has had an 18% increase in its staff with 6% being
rehires of staff laid off at the end of 1998 or beginning of
1999.
On May 24, 1999, the first module of Biocontrol's modular
premarket approval application (PMA) submission for the Diasensor
2000 was submitted to the FDA, which has 90 days in which to
respond. Biocontrol continues to move forward on the second
module and the enhancements to the operating software and
hardware necessary for the telemedicine program utilizing the
Diasensor 2000.
The Diasensor 2000 is a home-use instrument used by patients
with diabetes to measure their blood glucose without the need to
prick the finger to obtain a drop of blood. Patients using
currently marketed invasive devices require that patients prick
their fingers to obtain a sample of blood to test their glucose.
The Diasensor 2000 illuminates a small area on the patient's arm
with infrared light, which is then scattered back out through the
skin and collected by the instrument. This information is
interpreted by software in the instrument as a blood glucose
concentration.
Biocontrol Technology has its corporate offices in
Pittsburgh, PA and is involved in the development and manufacture
of biomedical devices and environmental products. Subsidiary
Diasensor.com, Inc., also located in Pittsburgh, PA, markets the
Diasensor. Diasensor.com owns the patent, marketing and
distribution rights to the sensor while Biocontrol has the
exclusive rights to the research and development and
manufacturing of the sensor.
WEBSITE: www.bico.com
INVESTOR RELATIONS NEWSLINE NUMBER: 1.800.357.6204