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) November 18, 199
QUADRAX CORPORATION
(Exact Name of Registrant as Specified in Charter)
Delaware 0-16052 05-0420158
(State or (Commission File Number) (IRS Employer
Other Jurisdiction Identification
of Incorporation) No.)
300 High Point Avenue, Portsmouth, RI 02871
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (401) 683-660
Not Applicable
(Former Name or Former Address, If Changed Since Last Report.)
ITEM 5. Other Events
On November 18, 1996, Registrant issued a press release announcing
that it had relinquished the license to utilize the Wimbledon trademark
in the United States for tennis rackets. See the Company's press
release attached as Exhibit No. 99.1
(c) Exhibits.
99.1 Company's press release dated November 18, 1996.
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 thereunto duly authorized.
Quadrax Corporation
December 2, 1996 /s/ James J. Palermo
(Date) James J. Palermo, Chairman
and Chief Executive Officer
December 2, 1996 /s/ Edward A. Stoltenberg
(Date) Edward A. Stoltenberg, Chief
Financial Officer and Principal
Accounting Officer
quadrax
Advanced Materials Systems
FOR IMMEDIATE RELEASE: November 18, 1996
CONTACT: Edward A. Stoltenberg, C.F.O., Quadrax Corporation,
tel. (401) 683-6600
Hal Levine/Marty Cohen, The Levine Group,
tel. (212) 682-8875
QUADRAX TO RELINQUISH WIMBLEDON LICENSE
PORTSMOUTH, RI--Quadrax Corporation (Nasdaq-Small Cap
Issues: QDRX) announced today it has relinquished the license
to utilize the Wimbledon trademark in the United States for
tennis rackets. James J. Palermo, Chairman and Chief Executive
Officer of Quadrax Corporation, said, "Despite two years of
effort, our experience is that the prestige associated with The
All England Tennis Club and the Wimbledon name never translated
into any meaningful interest in Wimbledon branded tennis
rackets. As a result, maintaining the licensing arrangement is
not economically justified."
Quadrax has determined that its thermoplastic material is
the differentiating feature in the tennis racket, and without
the restriction of the Wimbledon license the Company will be
able to market its racket to a larger base of retailers.
Quadrax will continue to market its thermoplastic tennis racket
through its own resource of outlets, or in conjunction with a
major international partner. Furthermore, Quadrax can
manufacture private label tennis rackets out of its patented
material for other companies.
Quadrax Corporation produces thermoplastic composite materials
using its proprietary fabrication and manufacturing processes
for a wide range of high-performance commercial and consumer
products.
Note: Quadrax's latest news releases are available at no charge
by dialing 1-800-758-5804, ext. 728452, or at
http://www.prnewswire.com on the Internet.
Quadrax Corporation
300 High Point Avenue, Portsmouth, RI 02871
Tel: (401)683-6600 Fax: (401)683-6606
