[TYPE]
<PAGE>
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): August 16, 1996
REGENT TECHNOLOGIES, INC.
(Exact name of Registrant as specified in its charter)
Colorado 0-9519 84-0807913
(State or other jurisdiction (Commission File (IRS Employer
incorporation or organization) Number) Identification)
8080 North Central, Suite 400, Dallas, Texas 75206
(Address of principal executive offices) (zip code)
<PAGE>
Item 2.
(a) On August 16, 1996, the Board of Directors of the Registrant approved
an agreement in principle authorizing the Company to license the
technologies necessary to offer dialup access to the Internet. On August
20, 1996, the Company completed the execution of Contract and License
Agreements whereby the Company has licensed the worldwide right of first
refusal to utilize the technology, digital equipment and software of National
Knowledge Networks, Inc. for Internet access through an exclusive sublicense
agreement from NKN Technologies, Inc. The Contract calls for the Company
to grant to NKN Technologies, Inc. 2,500,000 shares of the common stock of
the Company of which 600,000 shares will be registered and 1,900,000 shares
will be restricted shares. To accomplish the grant of the registered stock,
the Board approved the exchange of restricted shares of the Company for
registered shares on the basis of three restricted shares for one registered
share.
The License Agreement will give the Company access to digital
telecommunications equipment which is superior in quality to those
available from the traditional Internet Service Providers. The License
includes technical support resources for an initial period of time.
The Company will provide ISP services under the name TEL1.net. The Company
plans to offer website development services to its customers, both for
personal and commercial usage. The License Agreement has a primary term
of five years.
(b) On August 16, 1996, the Board of Directors of the Company approved
the divestment of 81% of the Company's wholly owned subsidiary, SSB
Environmental, Inc.("SSB") in a sale to the management of SSB for $10,000
cash and 500,000 shares of common stock of the Registrant. The final terms
of the divestment contract, including the effective date, have not been
determined.
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.
REGENT TECHNOLOGIES, INC.
David A. Nelson, President
Date: August 21, 1996
