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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: July 19, 2000
(Date of earliest event reported)
ELTRAX SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Minnesota Commission File No. 0-22190 41-1484525
(State of incorporation) (IRS Employer I.D. No.)
400 Galleria Parkway
Suite 300
Atlanta, GA 30339
(Address of principal executive offices)
(770) 612-3500
(Registrant's telephone number, including area code)
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Item 5. Other Events.
On July 19, 2000 our board of directors determined to dispose of our hospitality
services group. As a result of this decision, commencing with the second
quarter, we began reporting the historical operations of the hospitality
services group as a discontinued operation. Also in light of that decision, we
have reclassified our consolidated historical balance sheet as of December 31,
1999 and our historical consolidated statements of operations for the years
ended December 31, 1999, 1998 and 1997 and the related notes thereto. We have
also revised our Management's Discussion and Analysis of Financial Condition and
Results of Operations for each of those periods and updated our risk factors.
The restated financial information, Management's Discussion and Analysis and
updated risk factors are included in the exhibits to this filing.
On June 12, 2000, we entered into an agreement with Cereus Technology Partners,
Inc. ("Cereus") pursuant to which Cereus agreed to merge with and into a wholly
owned subsidiary of ours. Certain information in this form 8-K relates to that
transaction. We filed a Form 8-K dated June 12, 2000, reporting the transaction.
Item 7. Financial Statements and Exhibits
(a) Financial Statements of Businesses Acquired.
None.
(b) Pro Forma Financial Information.
None.
(c) Exhibits.
The exhibits filed herewith are shown on the Exhibit Index attached hereto and
incorporated herein.
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.
ELTRAX SYSTEMS, INC.,
a Minnesota corporation
Dated August 25, 2000 By: /s/ William A. Fielder, III
--------------------------------
William A. Fielder, III
Its: Chief Financial Officer
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EXHIBIT INDEX
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Exhibit Filed
Number Description Herewith
------ ----------- --------
<S> <C> <C>
23.1 Consent of PricewaterhouseCoopers LLP X
23.2 Consent of Crowe Chizek & Company LLP X
27.1 Restated Financial Data Schedule for the year X
ended December 31, 1997
27.2 Restated Financial Data Schedule for the year X
ended December 31, 1998
27.3 Restated Financial Data Schedule for the year X
ended December 31, 1999
99.1 Audited Consolidated Financial Statements and notes X
thereto, including Report of Independent Auditors
99.2 Management's Discussion and Analysis of Financial X
Condition and Results of Operations and Updated Risk
Factors
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