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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): August 4, 2000
CAM COMMERCE SOLUTIONS, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 000-16569 95-3866450
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
17520 NEWHOPE STREET
FOUNTAIN VALLEY, CALIFORNIA 92708
(Address of principal executive offices)
Registrant's telephone number, including area code: (714) 241-9241
CAM DATA SYSTEMS, INC.
(Former name or former address, if changed since last report)
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Item 2. Acquisition or Disposition of Assets.
On August 4, 2000, CAM Commerce Solutions, Inc., a Delaware
corporation (the "Registrant"), purchased all of the issued and outstanding
capital stock of MicroBiz, Inc., a New York corporation ("MicroBiz"), from the
company's president and sole shareholder, Craig Aberle, for $2 million. MicroBiz
provides Windows based point of sale and inventory management software systems
for single store retailers. MicroBiz's assets consist primarily of proprietary
software products, software licenses to customers, and its customer list.
The purchase price was arrived at by arms-length negotiations with Mr.
Aberle based upon MicroBiz's customer list and the anticipated future revenue
therefrom. One million eight hundred thousand dollars of the purchase price was
paid at the closing. The balance of $200,000 is due upon confirmation that
MicroBiz has at least 5,000 customers currently utilizing its software products
other than in the automobile repair shop industry. For each customer less than
5,000, the purchase price will be reduced by $400 up to a maximum reduction of
$200,000.
The source of funds for the acquisition was the $8 million private
placement recently completed by the Registrant.
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Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
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Exhibit
Number Description
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<C> <S>
10.1 Stock Purchase Agreement, dated August 4, 2000, among Craig Aberle,
MicroBiz, Inc., and CAM Commerce Solutions, Inc. (Schedules
excluded).
10.2 Consulting Agreement, dated August 4, 2000, among Craig Aberle,
MicroBiz, Inc., and CAM Commerce Solutions, Inc., a Delaware
corporation.
10.3 Non-Competition Agreement, dated August 4, 2000, between Craig
Aberle and CAM Commerce Solutions, Inc., a Delaware corporation.
99.1 Text of Press Release dated August 7, 2000
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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.
CAM COMMERCE SOLUTIONS, INC.
Date: August 11, 2000 By: /s/ Paul Caceres, Jr.
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Paul Caceres, Jr.
Title: Chief Financial Officer
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EXHIBIT INDEX
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<CAPTION>
Exhibit
Number Description
------ -----------
<C> <S>
10.1 Stock Purchase Agreement, dated August 4, 2000, among Craig Aberle,
MicroBiz, Inc., and CAM Commerce Solutions, Inc. (Schedules excluded).
10.2 Consulting Agreement, dated August 4, 2000 among Craig Aberle,
MicroBiz, Inc., and CAM Commerce Solutions, Inc., a Delaware
corporation.
10.3 Non-Competition Agreement dated August 4, 2000 between Craig Aberle
and CAM Commerce Solutions, Inc., a Delaware corporation.
99.1 Text of Press Release dated August 7, 2000
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