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
Date of Report: May 14, 1999
ELECTRONIC SYSTEMS TECHNOLOGY INC.
(A Washington Corporation)
Commission File no. 2-92949-S
IRS Employer Identification no. 91-1238077
415 N. Quay St. #4
Kennewick WA 99336
(Address of principal executive offices)
Registrant's telephone number, including area code:(509) 735-9092
<PAGE>
ITEM 5. OTHER EVENTS
On May 14, 1999, the Company issued press releases regarding the 1999 1st
Quarter Financial Performance, the Vicksburg, Mississippi Police Department,
and the Franklin County, Washington, Sheriff's Department both selecting
the Company's products to establish Mobile Data Computer (MDC) systems.
These press releases are incorporated by reference and attached hereto as
Exhibits 99.3, 99.4 and 99.5, respectively.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS,
AND EXHIBITS.
Exhibit 99.3 - 1st Quarter Financial Performance press release issued
May 14, 1999.
Exhibit 99.4 - City of Vicksburg, Mississippi press release issued
May 14, 1999.
Exhibit 99.4 - Franklin County, Washington Sheriff's Department press
release issued May 14, 1999.
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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 here unto duly authorized.
ELECTRONIC SYSTEMS TECHNOLOGY, INC.
/s/ T.L. KIRCHNER
By: T.L. Kirchner
President
Date: May l7, 1999
EXHIBIT 99.3 - PRESS RELEASE ISSUED MAY 14, 1999
PRESS RELEASE
ELECTRONIC SYSTEMS TECHNOLOGY
415 N. QUAY STREET
KENNEWICK, WA 99336
509-735-9092 (O)
509-783-5475 (FAX)
EST ANNOUNCES 1st QUARTER 1999 FINANCIAL INFORMATION
KENNEWICK, WASHINGTON --- May 14, 1999 --- Electronic Systems Technology
Inc. (EST) (OTC: ELST), a manufacturer of wireless modems, today
announced sales and results of operations for the three month period
ended March 31, 1999.
EST reported sales for the first quarter 1999, of $179,734 compared
to $409,214 for the same quarter in 1998. The Company recorded a Net Loss
for the first quarter of 1999 of $45,020, or $0.01 per share, compared with
the first quarter of 1998 Net Income of $58,662, or $0.01 per share.
<TABLE>
Selected Statement of Operations Information
(Unaudited)
<CAPTION>
Three Months Ended
March 31 March 31
1999 1998
--------- ---------
<S> <C> <C>
Sales $ 179,734 $ 409,214
Net income (loss) before tax ( 68,212) 88,883
Net Income (loss) ( 45,020) 58,662
Weighted average common
shares outstanding 5,584,694 5,547,557
Basic Earnings (Loss) per Share $( 0.01) $ 0.01
Diluted Earnings (Loss) per Share ( 0.01) 0.01
</TABLE>
<TABLE>
<CAPTION>
Selected Balance Sheet Information
(Unaudited)
March 31 December 31
1999 1998
-------- -----------
<S> <C> <C>
Cash and cash equivalents $1,515,671 $1,426,381
Total current assets 2,119,575 2,206,709
Property & equipment (net) 113,372 112,314
Total assets 2,269,305 2,354,145
Total current liabilities 72,337 87,140
Long-term debt -0- -0-
Stockholders' equity 2,196,968 2,241,988
</TABLE>
Electronic Systems Technology, a publicly held Company since 1984, was
the first Company to develop the wireless modem and receive the United
States and Canadian patent for this technology.
Contact EST for more details.
<PAGE>
APPENDIX:
Item no. 1: (graphic material not included in electronic filing format)
The press release was published showing at top left of the press release,
the Electronic Systems Technology, Inc. trademarked company logo, showing
a black square field containing the stylized letters E S T.
Electronic Systems Technology Awarded
MDCS Contract by Vicksburg, Mississippi
KENNEWICK, WASHINGTON --- May 14, 1999 --- Electronic Systems Technology
Inc. (EST) (OTC: ELST), a manufacturer of wireless communications hardware,
today announced the City of Vicksburg, MS, has awarded a contract to EST
for a new ESTeem(tm) Mobile Data Computer (MDC) system. The ESTeem MDC
system will serve twenty-two Vicksburg Police Department vehicles.
The ESTeem MDC system used by the Vicksburg Police Department, offers
public safety agencies an affordable mobile data network solution. The
ESTeem MDC system provides agencies an alternative to existing proprietary
data networks where agencies incur monthly service fees based on usage. The
ESTeem MDC system allows agencies to establish a private Radio Area Network
(RAN), free of monthly service fees, transmitting data at 19,200 bps,
utilizing the 150 to 174 MHz UHF business radio spectrum.
Electronic Systems Technology, a publicly held Company since 1984, brings
vast experience to the public safety communications marketplace. The Company,
the first to develop the wireless modem and receive the United States and
Canadian patents for the technology, has established the ESTeem products as a
standard for both industrial control and government applications in over 2,000
networks worldwide.
By bringing the expertise of Electronic Systems Technology and the ESTeem MDC
system to the marketplace, a new dimension is added to wireless communications
solutions for public safety agencies.
Contact the Company for more details.
www.esteem.com
<PAGE>
APPENDIX:
Item no. 1: (graphic material not included in electronic filing format)
The press release was published showing at top left of the press release,
the Electronic Systems Technology, Inc. trademarked company logo, showing
a black square field containing the stylized letters E S T.
Electronic Systems Technology Awarded
MDCS Contract by Franklin County, Washington
KENNEWICK, WASHINGTON --- May 14, 1999 --- Electronic Systems Technology
Inc. (EST) (OTC: ELST), a manufacturer of wireless communications hardware,
today announced the Franklin County Sheriff's Department, has awarded a
contract to EST for twenty one patrol units. Franklin County Sheriff's
Department will be added to the Pasco Police Department ESTeem MDC System.
The ESTeem MDC system serving Pasco/Franklin County will now serve over
fifty patrol units.
The ESTeem MDC system used by the Pasco Police Department and Franklin
County Sheriff's Department, offers public safety agencies an affordable
mobile data network solution. The ESTeem MDC system provides agencies an
alternative to existing proprietary data networks where agencies incur
monthly service fees based on usage. The ESTeem MDC system allows agencies
to establish a private Radio Area Network (RAN), free of monthly service
fees, transmitting data at 19,200 bps, utilizing the 450 to 470 MHz UHF
business radio spectrum.
Electronic Systems Technology, a publicly held Company since 1984, brings
vast experience to the public safety communications marketplace. The Company,
the first to develop the wireless modem and receive the United States and
Canadian patents for the technology, has established the ESTeem products as a
standard for both industrial control and government applications in over 2,000
networks worldwide.
By bringing the expertise of Electronic Systems Technology and the ESTeem MDC
system to the marketplace, a new dimension is added to wireless communications
solutions for public safety agencies.
Contact EST Marketing for more details.
www.esteem.com
<PAGE>
APPENDIX:
Item no. 1: (graphic material not included in electronic filing format)
The press release was published showing at top left of the press release,
the Electronic Systems Technology, Inc. trademarked company logo, showing
a black square field containing the stylized letters E S T.
