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 (Date of earliest event reported): April 30, 1997
COLOROCS INFORMATION TECHNOLOGIES, INC.
(Exact name of Registrant as specified in its charter)
Georgia 0-14392 58-1482573
(State of Incorporation) (Commission File No.) (I.R.S. Employer
Identification No.)
5600 Oakbrook Parkway, Suite 240
Norcross, Georgia 30093
(Address of principal executive offices, including zip code)
(770) 447-3570
(Registrant's telephone number, including area code)
Page 1 of 5
Exhibit Index on Page 3
Item 7. Financial Statements and Exhibits
(a) The following exhibit is filed as part of this Form 8-K:
Exhibit Description Page No.
99 Press release dated April 30, 1997 4
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.
COLOROCS INFORMATION
TECHNOLOGIES, INC.
(Registrant)
/s/ Alan McKeon
Alan McKeon
President
Date: May 2, 1997
-2-
EXHIBIT INDEX
Exhibit Description Page No.
99 Press release dated April 30, 1997 4
-3-
COLOROCS ANNOUNCES EXECUTION OF DEFINITIVE ACQUISITION AGREEMENT
BETWEEN VIEWCALL AMERICA, INC. AND NETCHANNEL INC.
Norcross, Ga., April 30 -PRNewswire/ -- Colorocs Information
Technologies, Inc. (Nasdaq: CLRC), today announced the execution of a
definitive acquisition agreement between its majority owned subsidiary
ViewCall America, Inc. and NetChannel Inc.
Under the definitive asset acquisition agreement NetChannel will
acquire certain core assets and certain liabilities of ViewCall
America, Inc. in exchange for shares of NetChannel preferred stock.
The agreement is subject to ViewCall America shareholder approval.
Rudolph P. Russo, Chairman of the Board of Colorocs commented:
"We are delighted to have executed the definitive agreement with
NetChannel. Combining the two company's strengths should create a
dynamic force in this emerging market that will provide a compelling
on-line service for Internet-TV."
About Colorocs
Colorocs Information Technologies, Inc. intends to utilize its
income from patent licensing to diversify from its historic business
of color copiers and printers to exciting new technology growth
opportunities. Colorocs is headquarted in Norcross, Georgia.
About NetChannel
NetChannel Inc. is the developer of NetChannel, an Internet and
information service designed to extend the television experience by
delivering personally relevant information and entertainment. Founded
in 1996, the company employs a staff of 60 and is headquartered in
South San Francisco. NetChannel Inc. is currently aligned with
manufacturing partner Thomson Consumer Electronics and Network
Computer, Inc. (NCI), a wholly owned subsidiary of Oracle. NetChannel
Europe, a wholly owned subsidiary of NetChannel Inc., is based in
London, England. NetChannel's Web site can be accessed via the
Internet at http://www.netchannel.net.
The preceding paragraphs contain forward-looking statements that
involve risks and uncertainties. There can be no assurance that
Colorocs will be successful in finding new business opportunities or
if it does that these investments will be successful. Actual
performance and results, and the effect thereof on the financial
results of Colorocs Information Technologies, Inc., may differ from
the performance and results contemplated by the forward-looking
statements. Factors that might cause such a difference include, but
are not limited to, the possibility that shareholder approval may not
be given, the transaction may not be completed, risks associated with
acquisitions, such as difficulties in the assimilation of operations,
technologies and products of the acquired companies, diversion of
management's attention from other business concerns, risks of entering
new markets, competitive response, and a lack of demand for Internet
TVs or other downturn in the Internet TV industry. NetChannel is a
privately held company and the NetChannel preferred stock issued to
the Company may have undetermined value or liquidity. For a more
detailed description of the risk factors associated with Colorocs
Information Technologies, please refer to the company's SEC filings.
SOURCE Colorocs Information Technologies, Inc.
CONTACT: Alan McKeon, Colorocs Information Technologies, Inc.,
770-447-3570 or email: [email protected]
