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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): July 21, 1998
GENERAL AUTOMATION, INC.
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(Exact name of Registrant as specified in its charter)
Delaware 0-5260
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(State of incorporation (Commission
or other jurisdiction) File Number)
95-248811
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(I.R.S. Employer Identification Number)
17731 Mitchell North, Irvine, California 92614
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (949) 250-4800
NOT APPLICABLE
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(Former name or former address, if changed since last report)
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ITEM 5 -- OTHER EVENTS
As previously reported, the Company intends to restate its financial statements
for the fiscal years ended September 30, 1995, 1996 and 1997. As also
previously reported, Price Waterhouse LLP has withdrawn its report concerning
the Company's financial statements for the fiscal years ended September 30,
1995 and 1996, and McGladrey Pullen LLP has withdrawn its report concerning the
Company's financial statements for the fiscal year ended September 30, 1997.
In a letter from the American Stock Exchange dated July 16, 1998 the Company was
notified that it had fallen below certain of the Exchange's listing guidelines,
and as a result the Exchange is reviewing the Company's continued listing
eligibility. In its letter the Exchange stated that "specifically, the company
has not complied with the Exchange's rules in that it has failed to file its
March 31, 1998 Form 10-Q and, since the withdrawal of its auditor's reports on
the financial statements for its fiscal years ended September 30, 1995, 1996 and
1997, it does not have audited results for those years. In addition, in view of
the foregoing, we are unable to determine if the company satisfies our numerical
guidelines for continued listing."
The Company's independent audit firms are continuing their work toward
restatement of the Company's financial statements for the fiscal years ended
September 30, 1995, 1996 and 1997. Completion of these restated financial
statements will provide the prior period information necessary to enable the
Company to finalize and file its report on Form 10-Q for the quarter ended
March 31, 1998. The Company's management is also addressing other areas in
which the Company could fail to meet the Exchange's guidelines for continued
listing, and has tentatively scheduled a meeting at the American Stock Exchange
on Monday, July 27, 1998 to present arguments supporting the continued listing
of the Company's common stock. There can be no assurance, however, that the
Company will be able to maintain the listing of its common stock on the
American Stock Exchange. Delisting of the Company's common stock by the
American Stock Exchange could have a material adverse effect on the market for,
and the market price of, the Company's common stock.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on is behalf by the
undersigned, thereunto duly authorized.
GENERAL AUTOMATION, INC.
Date: July 21, 1998
By: /s/ RICHARD H. NANCE
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Richard H. Nance
Vice-President Finance and
Chief Financial Officer
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