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 30, 2000
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MEGADATA CORPORATION
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(Exact name of registrant as specified in its charter)
New York 000-07642 112208938
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(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
47 Arch Street, Greenwich, CT 06830
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (203) 629-8757
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Not applicable (Former name or former address,
if changed since last report.)
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ITEM 5. OTHER EVENTS.
On June 30, 2000, G.S. Beckwith Gilbert, Chairman and Chief Executive Officer of
Megadata Corporation (the "Company"), converted certain promissory notes of the
Company into shares of common stock of the Company. The notes were originally
issued by the Company between November 1998 and August 1999 in exchange for
financing provided by Mr. Gilbert. Mr. Gilbert converted the full principal
amount of two notes and part of the principal amounts of nine other notes,
together with interest accrued thereon (an aggregate amount of $583,143.75,
including accrued interest) into 466,515 shares of common stock of the Company,
at the conversion rate of $1.25 per share. After the conversion, on June 30,
2000, the total outstanding principal balance on all of the notes issued by the
Company to Mr. Gilbert was $1,175,000. The conversion increased the number of
outstanding shares of the Company's common stock to 2,978,115.
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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.
MEGADATA CORPORATION
Dated: July 20, 2000 By: G.S. Beckwith Gilbert
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G.S. Beckwith Gilbert
Chairman and Chief Executive
Officer
