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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 24, 1996
NUCLEAR METALS, INC.
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(Exact name of Registrant as Specified in its Charter)
MASSACHUSETTS 0-8836 04-2506761
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
2229 MAIN STREET, CONCORD, MASSACHUSETTS 01742
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(Address of Principal Executive Offices) (Zip Code)
(508) 369-5410
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(Registrant's Telephone Number, Including Area Code)
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(Former Name or Former Address, if Changed Since Last Report)
ITEM 5. OTHER INFORMATION
In connection with the filing of the Registrant's Annual Report on
Form 10-K for the fiscal year ended September 30, 1995, the report of the
Registrant's independent auditors included with the Registrant's financial
statements for the fiscal year ended September 30, 1995, expressed concern
about the Registrant's ability to continue as a going concern in light of the
current status of its indebtedness and potential delays in receiving a
critical sales order and payment from a foreign customer for penetrator
blanks. During fiscal 1995, the Registrant manufactured penetrator blanks in
accordance with a contract option with a foreign customer without funding in
order to preserve critical skills within the Registrant. The Registrant had
expected a payment of $3,030,000 in September 1995 for work performed on
penetrator blanks for the foreign customer. On March 26, 1996, the foreign
customer entered into an agreement with the Registrant pursuant to which the
foreign customer agreed to pay for the penetrator blank order in three
installments. The first and second installments which totaled $1,000,000 and
$1,500,000 were received by the Registrant on March 26, 1996 and April 24,
1996, respectively. The remaining payment is due and payable on June 26,
1996. The Registrant believes that receipt of payments totaling $2,500,000
from the foreign customer addresses the basis for the going concern issues
raised in the auditors' report and alleviates the need for concern about the
Registrant's ability to continue as a going concern.
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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 thereunto duly authorized.
NUCLEAR METALS, INC.
By: /s/ James M. Spiezio
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James M. Spiezio, Vice
President of Finance and
Administration and Controller
Date: April 26, 1996
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