SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Filed Pursuant to Section 13 or 15(d) of
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
June 13, 1996
-------------
Zing Technologies, Inc.
-------------------------------------------------------
(Exact name of registrant as specified in its charter)
New York 0-14328 13-2650621
- -------------------- ---------- ----------
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
115 STEVENS AVENUE
VALHALLA, NEW YORK 10595
-------------------------
(Address of principal executive offices)
Registrant's telephone number, including area code:(914) 747-7474
--------------
<PAGE>
This Current Report on Form 8-K is filed by Zing Technologies, Inc., (the
"Registrant") with its principal offices located at 115 Stevens Avenue,
Valhalla, New York, 10595 to report that on June 13, 1996 the Registrant
received $2,000,000 of additional purchase price from Arrow Electronics under
the Registrant's February 12, 1993 Asset Purchase Agreement with Arrow.
Item 5. Other Events.
On June 13, 1996, the Registrant received the entire $2,000,000 of
additional purchase price from the May 19, 1993 sale to Arrow Electronics of the
Registrant's high reliability electronic components distribution and value added
businesses and the assets and liabilities related thereto.
Under the Registrant's agreement with Arrow, the additional purchase price
was based upon the average annual sales achieved by Arrow of high reliability
electronic components (including the business formerly conducted by the
Registrant) for the two-year period May 1994 - May 1996.
<PAGE>
SIGNATURE
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.
ZING TECHNOLOGIES, INC.
By: /s/ Martin S. Fawer
-----------------------------
Name: Martin S. Fawer
Title: Treasurer
Date: June 20, 1996
