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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
CURRENT REPORT PURSUANT TO SECTION 13 OR 15 (d) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT COMMISSION FILE NO.
AUGUST 7, 1996 0-13920
SYSTEMS TECHNOLOGY ASSOCIATES, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
FLORIDA 54-0802071
(STATE OR OTHER JURISDICTION OF (IRS EMPLOYER I.D. NO.)
INCORPORATION OR ORGANIZATION)
14 BRYANT COURT
STERLING, VIRGINIA 20166
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
(703) 471-8000
(REGISTRANT'S TELEPHONE NUMBER)
ITEM 5. OTHER EVENTS
Systems Technology Associates, Inc. (STA) announces that it has received the
necessary funds to complete the stock repurchase and debt reduction package it
negotiated with Mr. Marvin S. Friedland, former President, as announced in its
8K filing of July 30th. In addition, another creditor of STA will forgive a
claim of $46,950 in return for a cash payment of $5,000 and 83,900 newly issued
common shares.
Since December 1991, when current management took over, the Company has reduced
debt, through both earnings and debt negotiations, by almost $1,000,000, from
$1,250,000 to about $258,000 as of the 2nd of August. In addition, as part of
the above agreement, STA is redeeming and removing $100,000 of preferred stock
(an equity interest senior to its common shareholders) from it capital
structure.
SIGNATURES
Pursuant to the requirement of Section 13 or 15 (d) 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.
Dated: 8/07/96 BY: /s/ TERRY A. SCOTT
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Chairman of the Board
