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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORK 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 22, 1996
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DIGITAL SOLUTIONS, INC.
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(Exact name of Registrant as specified in charter)
New Jersey 0-18492 22-1899798
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(State or other jurisdic- (Commission (IRS Employer
tion of incorporation) File Number) Identification No.)
4041-F Hadley Road, South Plainfield, N.J. 07080
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (908) 561-1200
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS.
The Company issued the following press release regarding a private
placement offering of securities under Section 4(2) and/or Regulation D of the
Securities Act of 1933:
South Plainfield, NJ, Feb. 21 -- DSI - Digital Solutions, Inc.
(NASDAQ: DGSI), a leading third party provider of human resources management
services, announced today that it has raised $1.9 million via a private equity
financing, and intends to raise a total of $3.5 million through this placement.
As a result of the financing, DSI has retired $1 million of a bridge
note which was due to one fund on Nov. 28, 1995.
Raymond J. Skiptunis, CEO, stated, "The placement of the equity was
anti-dilutive, primarily as a result of the reduction of interest expense, and
will also improve our balance sheet dramatically. This expression of
confidence in the future of DSI reflects the growing interest in our industry
by the investment community."
THE SECURITIES OFFERED IN THE PRIVATE PLACEMENT OFFERING WILL NOT BE
AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED AND
MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN
APPLICABLE EXEMPTION FROM REGISTRATION REQUIREMENTS.
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SIGNATURE
Pursuant to the requirements Of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed an its behalf by the
undersigned hereunto duly authorized.
DIGITAL SOLUTIONS, INC.
(Registrant)
By S/ Raymond J. Skiptunis
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Raymond J. Skiptunis
Vice Chairman
Dated: February 22, 1996
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