SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to section 13 of 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
March 30, 2000
Network Six, Inc.
(Exact name of registrant as specified in its charter)
Commission File No. 0-21038
Rhode Island 05-036-6090
(State or other jurisdiction of (I.R.S. Employer
Identification No.)
incorporation or organization)
475 Kilvert Street, Warwick, Rhode Island 02886
(Address of principal executive offices, including zip code)
(401) 732-9000
(Registrant's telephone number, including area code)
Item 5. Other Events
The March 30, 2000 Press Release of the Registrant attached
hereto as EXHIBIT 99 is incorporated herein by reference.
Item 7 (c) Exhibits
99 Press Release, dated March 30, 2000, of Network Six, Inc.
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.
Network Six, Inc.
-----------------------
(Registrant)
Date: March 30, 2000 By: /s/ James J. Ferry
James J. Ferry
Vice President, Finance/Administration and
Chief Financial Officer
Network Six, Inc.
Current Report on Form 8-K
Dated March 30, 2000
Exhibit Index
Exhibit
No. Exhibits
99 Press Release dated March 30, 2000
EXHIBIT 99
NETWORK SIX ADDS THREE BOARD MEMBERS
Kenneth C. Kirsch, President and CEO
Or
James J. Ferry, Vice President of Finance & Administration,
CFO and Treasurer
March 30, 2000
WARWICK, RI: Network Six, Inc. (NASDAQ: NWSS) announced that
Edward J. Braks has been elected to its Board of Directors
effective March 23, 2000. Mr. Braks, a Certified Public
Accountant, is Chief Financial Officer and Chair of the
Management Committee of Paul Arpin Van Lines, a privately-held
company based in West Warwick, Rhode Island, where he has worked
since 1995. From 1990 until 1994, Mr. Braks was Executive Vice
President and Chief Financial Officer for Old Stone Corporation
and Old Stone Bank. From 1964 until 1990 (except for two years
of service in the U.S. Army), he was a Partner with Deloitte and
Touche's Accounting and Auditing Division based in New York City.
Mr. Braks holds a Bachelor of Business Administration degree from
Manhattan College.
Network Six also announced that Owen S. Crihfield and Thomas J.
Berardino, both Managing Directors of Saugatuck Capital Company,
have joined the Board of Directors, effective today. Mr.
Crihfield has been Managing Director of Saugatuck since 1986 and
served on Network Six's Board of Directors from November 1992 to
April 1996. He was previously Vice President of Merrill Lynch
Capital Markets where he was responsible for all facets of
corporate finance for the Emerging Growth Companies Group. Mr.
Crihfield is a graduate of Pomona University, where he received a
B.A. degree in Comparative Government and the Harvard University
Graduate School of Business from which he received his M.B.A.
degree.
In 1992, Mr. Berardino co-founded Meridian Capital Management, a
merchant bank specializing in middle-market private equity
transactions. Meridian and Saugatuck merged their activities in
1998. Previously, Mr. Berardino worked at Olin Corporation,
International Harvest Group, Ltd., a private investment bank he
co-founded, and Exxon Corporation. He is Chairman and a Director
of Alarm Security Group Holdings, Inc. Mr. Berardino graduated
with an A.B. degree in Engineering Sciences from Dartmouth
College and an M.B.A. in Finance from the Columbia Graduate
School of Business.
Saugatuck invested $2.5 million in the Company in November 1992
in exchange for 714,285.71 shares of series A Convertible
Preferred Stock convertible into 178,571 shares of Network Six
Common Stock. The Preferred stockholder is entitled to receive a
quarterly dividend, which has accrued since September 1995, and
to appoint two Directors if its dividend is in arrears for three
quarters or more.
Kenneth C. Kirsch, Network Six's President and CEO commented,
"We are very pleased to have someone the caliber of Ed Braks
join our Board of Directors. Ed has substantial experience
dealing with publicly-held companies and brings many years of
experience to our Board. Moreover, we welcome Saugatuck's
involvement and expertise in working with us to increase
shareholder value."
Network Six is a full service provider of information technology
solutions that enable its customers to operate more efficiently
and effectively. Network Six's services include e-commerce
planning and implementation, technology consulting, applications
development and support and network design and implementation.
Network Six's stock is traded on the NASDAQ SmallCap Market under
the symbol NWSS. Its website is http://www.networksix.com.
This report contains forward-looking statements reflecting the
Company's expectations or beliefs concerning future events that
could materially affect Company performance in the future. All
forward-looking statements are subject to the risks and
uncertainties inherent with predictions and forecasts. Please
refer to the Company's 10K for December 31, 1999 or 10Q's for
March 31, 1999, June 30, 1999 or September 30, 1999 for more
discussion and information.
