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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 (Date of earliest event reported) March 16, 1995
INOTEK TECHNOLOGIES CORP.
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(Exact name of registrant as specified in its charter)
Delaware 0-16101 75-1986151
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
11212 Indian Trail, Dallas, Texas 75229
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(Address of principal executive offices)
Registrant's telephone number, including area code: (214) 243-7000
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Item 2. Acquisition or Disposition of Assets
On March 16, 1995, Inotek Technologies Corp. completed the sale of the
inventory and equipment of its Entronics Division to Fidelity Money Order
Company, a division of GSC Enterprises, Inc. Entronics designs, manufactures
and markets a line of automatic money order dispensers for use in retail stores
and other outlets that sell money orders to customers. Inotek received cash
proceeds of approximately $958,000 from the sale and the Company and two of its
officers agreed not to compete against the buyer for a period of five years
from the date of the sale. Proceeds from the sale were used to reduce the
Company's borrowings under its revolving credit agreement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Corporation has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Inotek Technologies Corp.
Dated: April 6, 1995 By: /s/ R. Lee Simpson
R. Lee Simpson
Chief Financial Officer
