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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): February 27, 1998
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Mechanical Technology Incorporated
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(Exact name of registrant as specified in its charter)
New York
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(State or other jurisdiction of incorporation or organization)
0-6890 14-1462255
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(Commission File Number) (I.R.S. Employer Identification No.)
968 Albany-Shaker Road, Latham, New York 12110
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (518) 785-2211
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Item 5. Other Events.
On February 27, 1998, the Registrant executed a Letter of Intent with
Foster-Miller, Inc. ("FMI"), and NYFM, Inc. ("NYFM") to transfer certain assets
and certain employees of the technology division of the Registrant to NYFM. The
Registrant will receive a percentage of gross sales of NYFM in exchange for its
contribution. The Letter of Intent is contingent upon satisfactory completion
of due diligence by FMI and the receipt of certain consents by FMI and the
Registrant. A final agreement is expected by late March.
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.
MECHANICAL TECHNOLOGY INCORPORATED
Date: February 27, 1998 By: /s/ Martin J. Mastroianni
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Martin J. Mastroianni
President
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