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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE OF 1934
Date of Report December 11, 1996
DCX, Inc.
(Exact name of registrant as specified in its charter)
Colorado 0-14273 84-0868815
(State of (Commission (IRS Employer
incorporation) File Number) Identification No.)
3002 North State Highway 83, Franktown, CO 80116-0569
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (303) 688-6070
Not Applicable
(Former name or former address, if changed since last report)
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ITEM 5, OTHER EVENTS.
MANAGEMENT CHANGES.
On December 17, 1996, the Board of Directors of the Company announced that it
had arrived at mutual agreement with regard to the following changes in the
management of the Company which are effective on January 1, 1997:
Present Chairman, John G. Anderson become Chairman Emeritus and remains a
director.
Present President and Chief Executive Officer, Jeanne M. Anderson, becomes
Chairman of the Board of Directors.
Present Director for Strategic Planning, Steven Carreker becomes President
and Chief Executive Officer.
LITIGATION:
Airtech International Agreement. On December 1, 1996, the Company filed a
complaint in the District Court for Douglas County, Colorado, against Airtech
International Corporation ("Airtech"), John Potter, and C.J. Comu. The
Company alleges, among other items, that the defendants failed to pay funds
that they agreed to pay the Company, that the defendants breached the
Agreement for Exchange of Shares dated July 29, 1996, between the Company and
Airtech ("Agreement"), and that the defendants made material
misrepresentations of facts to the Company. The complaint seeks recovery of
costs and expenses incurred by the Company, and seeks payment of funds the
defendants agreed to pay the Company.
Third Terminated Contract. On December 19, 1996, the Company filed a motion
with the Armed Services Board of Contract Appeals for reinstatement of a
previously filed motion related to the third contract with Defense General
Supply Center for the production of lighting sets which contract had been
terminated for default in 1988. The U.S. Supreme Court recently denied the
Company's petition for certiorari asserting the termination was for the
convenience of the Government. The reinstated motion asserts that the
government did not fulfill its duty to mitigate the damages to the
government resulting from the reprocurement costs incurred by obtaining the
light sets from the substitute vendor. If sustained, the reprocurement costs
of approximately $237,000 would not be assessable to the Company.
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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.
DCX, INC.
(Registrant)
December 24, 1996 /s/ Frederick G. Beisser
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Frederick G. Beisser
Secretary, Treasurer & Chief Financial Officer
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