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SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
CURRENT REPORT
FORM 8-K/A
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: July 18, 1994
AMERIQUEST TECHNOLOGIES, INC.
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(Exact name of registrant as specified in charter)
Delaware
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(State of other jurisdiction of incorporation)
1-10397 33-0244136
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(Commission File Number) (IRS Employer Identification No.)
2722 Michelson Drive, Irvine, CA 92715
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(Address of principal executive offices) (Zip Code)
(714) 222-6000
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(Registrant's telephone number, including area code)
CMS ENHANCEMENTS, INC.
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(Former name or former address, if changed since last report)
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
The Registrant earlier reported that on July 8, 1994 the Registrant
reacquired 345,091 shares of its Common Stock from Mr. James D'Jen, a former
officer and director of AQS, as down payment on an obligation of Mr. D'Jen to
exchange 350,000 shares of AQS Common Stock in exchange for all (100%) of the
common stock of AQS's Singapore subsidiary, CMS Enhancements (S) PTE Ltd. The
balance of the 4,909 shares of AQS Common Stock were never delivered to the
Registrant. Accordingly, after numerous demands of Mr. D'Jen to deliver the
balance of the shares due, the Board of Directors resolved on March 17, 1995 to
return the shares to Mr. D'Jen evidencing the down payment shares and to abandon
the proposed sale.
The Singapore company is a distributor of commodity disk drives. Sales
for this Singaporean subsidiary approximate $20 million annually, but
historically have not effectively contributed to the domestic operations.
In the opinion of management the terms of the transaction were
negotiated at "arm's-length" at a point in time that Mr. D'Jen was estranged
from the Company, and it appears that this estranged relationship has resulted
in Mr. D'Jen being unwilling to pay the full bargained-for consideration.
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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 hereunto duly authorized.
AMERIQUEST TECHNOLOGIES, INC.
/s/ Stephen G. Holmes
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Stephen G. Holmes
Secretary, Treasurer and
Chief Financial Officer
Dated: April 4, 1995
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