UNITED STATES
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
April 14, 2000
(Date of earliest event reported)
UNIDYNE CORPORATION
(Exact name of small business issuer
as specified in its charter)
DELAWARE 0-10372 23-2154902
(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation or organization) Identification No.)
118 PICKERING WAY, SUITE 104, EXTON, PENNSYLVANIA 19341
(Address of principal executive offices)
(610) 363-8237
(Issuer's telephone number)
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ITEM 5. OTHER EVENTS
Due to its deteriorating financial condition, the Company has been unable to pay
its independent auditors and special securities counsel. As a result, it will
not be able to file its Form 10-KSB for the year ended December 31, 2000 within
the extension period permitted by the filing of Form 12b-25, which was filed on
March 31, 2000.
In a press release dated April 12, 2000, the Company announced that it has begun
the process of structuring a reorganization of its business in consultation with
financial and legal professionals. The Corporation is reviewing various options
in cooperation with its key lenders and suppliers.
No corporate decision has been made with regard to reorganization under
bankruptcy law.
Any reorganization will involve careful consideration of all relevant factors
including the best interests of the company's creditors, employees and
stockholders. The Company expects to resume normal business operations as part
of its reorganization efforts. Further information will be made available after
the corporation has structured its reorganization strategy, and shortly
thereafter the Company expects to be able to file its Form 10-KSB for the year
ended December 31, 1999.
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.
UNIDYNE Corporation
April 14, 2000 /s/ Wayne R. Lorgus
---------------------------
Wayne R. Lorgus, President
and
Chief Financial Officer
