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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15[d] of
The Securities Exchange Act of 1934
Date of Report: September 28, 1999
TECHNICAL VENTURES INC.
[Name of Registrant]
New York 33-2775-A 13-3296819
[State of Incorporation] [Commission File] [IRS Ident. No.]
3411 McNicoll Ave., Unit 11, Scarborough, Ontario, Canada M1V 2V6
[Address of Principal Executive Offices]
Registrant Telephone No. 416/299-9280
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ITEM 5. OTHER IMPORTANT EVENTS
(a) Pertaining to a legal action referenced under "Legal Proceedings" in
the Corporation's SB2 Amendment 1 filing of September 3, 1999;
After submission of the Defendant's evidence, the Court ordered the
parties to combine the examinations for injunction proceedings with
those for the preparation for trial.
On September 16-17, 1999, at the hearing of the interlocutory
injunction motion, the parties agreed, on consent, to adjourn the
motion until trial. The parties agreed to expedite the matter to
trial with a target date of about December 1999.
The legal action was commenced against the Corporation, its
subsidiary Mortile Industries Ltd., their President, Frank Mortimer
and the Dow Chemical Company, on June 4, 1999 in the Ontario
Superior Court of Justice (Commercial List). The Dow Chemical
Company is defending separately.
The legal action, commenced by a former customer, Endex Polymer
Additives Inc., Endex Polymer Additives Inc.(USA), Endex
International Limited and G. Mooney And Associates, claims allege
breach of secrecy agreements, fiduciary duty and misuse of Endex
confidential information. The Plaintiffs are seeking CND $10 Million
compensatory damages, further punitive damages of CND $1 Million and
a permanent injunction.
Based on prior written legal opinion from its patent attorneys that
the allegations are without merit, the Corporation has retained a
law firm specializing in Intellectual Property Law and is vigorously
defending the action.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
AND EXHIBITS
(a) Not applicable
(b) Not applicable
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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 on its behalf by the
undersigned hereunto duly authorized.
TECHNICAL VENTURES INC.
(Registrant)
By:/s/Larry R. Leverton
_________________________
Larry R. Leverton
Chief Financial Officer
Dated: September 28, 1999