NORTHWEST TELEPRODUCTIONS INC
8-K, 1998-07-09
MOTION PICTURE & VIDEO TAPE PRODUCTION
Previous: NORD RESOURCES CORP, SC 13D/A, 1998-07-09
Next: OCEANEERING INTERNATIONAL INC, DEF 14A, 1998-07-09



                       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): June 24, 1998


                         Northwest Teleproductions, Inc.
             (Exact name of Registrant as Specified in its Charter)


                                    Minnesota
                 (State or Other Jurisdiction of Incorporation)



         0-8505                                                41-0641789
(Commission File Number)                                      (IRS Employer
                                                             Identification No.)


                              4000 West 77th Street
                          Minneapolis, Minnesota 55435
              (Address of Principal Executive Offices and Zip Code)


                                 (612) 835-6450
              (Registrant's telephone number, including area code)



                                 Not Applicable
          (Former Name or Former Address, if Changed Since Last Report)

<PAGE>
Item 2.  Acquisition or Disposition of Assets.

         On June 24, 1998,  the  Registrant  sold to, and then leased back from,
Lindue,  LLC, a Minnesota  limited  liability  company,  two parcels of land and
buildings of the Registrant  located at 4000 West 76th Street and 4455 West 77th
Street, Minneapolis, Minnesota. The aggregate sale price for the two parcels was
$1,600,000 and was determined by negotiation  between the Registrant and Lindue,
LLC. The two parcels were leased back to the Registrant under three-year leases.
The combined  monthly  rental  expense  under the two leases for the first three
years will be $16,615 in the first year,  $17,030 in the second year and $17,456
in the  third  year.  After  the  initial  three-year  term of the  leases,  the
Registrant  has the option of renewing each lease for an additional  five years.
The monthly rental expense will increase incrementally during the fourth through
eighth  years of such lease  extension  from  $6,882 to $7,596 for the 4000 West
76th  Street  property  and from  $11,010 to  $12,153.50  for the 4455 West 77th
Street  property.  The  Registrant  is also  responsible  for  payment of taxes,
operating  expenses and maintenance costs relating to the property.  Lindue, LLC
is owned by John G. Lindell, a member of the Registrant's Board of Directors.

Item 7.           Financial statements and Exhibits

         (a)      Financial Statements:

                           None

         (b)      Exhibits:

                           See Exhibit Index on page following Signatures.


                                   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.


                                                NORTHWEST TELEPRODUCTIONS, INC.



                                                By     /s/ David S. Johnson
Date July 8, 1998                               David S. Johnson, Vice President

<PAGE>


                                  EXHIBIT INDEX

                         Northwest Teleproductions, Inc.
                             Form 8-K Current Report
                               Dated July 8, 1998




Exhibit Number             Description

       99.1                Real Estate  Purchase  Agreement,  dated June 24,
                           1998,  between the Registrant and  Lindue,  LLC  -
                           incorporated by reference to Exhibit  10.27  to  the
                           Registrant's  Annual  Report on Form 10-KSB for the
                           fiscal year ended March 31, 1998.

      99.2                 Lease   Agreement,   dated  June  24,  1998, between 
                           the  Registrant  and  Lindue,   LLC relating  to 
                           property  at  4000  West  76th Street, Minneapolis,
                           Minnesota incorporated by reference to Exhibit 10.28
                           to  the Registrant's  Annual  Report on Form  10-KSB
                           for the fiscal year ended March 31, 1998.

      99.3                 Lease   Agreement,   dated  June  24,  1998, between
                           the Registrant and Lindue, LLC relating to property
                           at 4455 West 77th Street, Minneapolis,  Minnesota
                           incorporated by  reference to Exhibit 10.29 to the
                           Registrant's  Annual  Report on Form  10-KSB for the
                           fiscal year ended March 31, 1998.


© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission