<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported) NOVEMBER 22, 1996
INFORMATION MANAGEMENT TECHNOLOGIES CORPORATION
________________________________________________________________________
(Exact name of Registrant as specified in its Charter)
DELAWARE
________________________________________________________________________
(State of other jurisdiction of incorporation)
0-16753 58-17220
____________________________ _________________________
Commission File No. I.R.S Employer Identification
130 Cedar Street, New York, NY 10006
____________________________ _________________________
Address of principal Zip Code
executive offices
(212) 306-6100
____________________________
Registrant's telephone number,
including area code
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ITEM 6. RESIGNATION OF REGISTRANT'S DIRECTORS
The Registrant ("Company"), accepted the resignation of Christopher D.
Holbrook, as Chief Executive Officer, Chief Operating Officer, and a Director on
November 22, 1996. Mr. Holbrook did not have any disagreement with the Company
on any matter relating to the Company's operations, policies, or practices, and
provided a copy of the annexed resignation to the Board of Directors of the
Company.
Mr. Holbrook agreed to serve as a Consultant to the Company for a
period of eight (8) months from the date of his resignation from the Company,
and was vested by the Company with 125,000 stock options to purchase 125,000
shares of Common Stock at $1.88 per share, and 175,000 options to purchase
175,000 shares at $1.25 per share expiring on November 23, 1997.
The Board appointed Robert Oxenberg, Chairman, as interim Chief
Executive Officer of the Company.
EXHIBITS
1) Copy of letter of resignation of Christopher D. Holbrook to the
Board of Directors of the Company.
2) Copy of Press Release
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.
Dated: New York, New York
November 27, 1996
INFORMATION MANAGEMENT
TECHNOLOGIES CORPORATION
(IMTECH)
____________________________________
(Registrant)
/s/ Joseph Gitto
____________________________________
JOSEPH GITTO,
PRESIDENT
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Exhibit 1
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TO: Board of Directors of
Information Management Technologies Corp.
("IMTECH" or the "Company")
Dated: As of November 21, 1996
Gentlemen:
The undersigned, Christopher D. Holbrook, Chief Executive Officer, Chief
Operating Officer and a director of the Company, voluntarily resigns his
positions as an officer and director of IMTECH.
I do not have any disagreement with the Company on any matter relating
to the operations, policies or practices, and have no disagreement with the
financial and other reporting of the Company as requried by SEC regulations.
Very truly yours,
/s/ Christopher D. Holbrook
CHRISTOPHER D. HOLBROOK
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FOR IMMEDIATE RELEASE
Contact: Joseph A. Gitto (212) 306-6201
President and Chief Financial Officer
Imtech
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New York, New York - November 21, 1996 - Information Management
Technologies Corporation ("Imtech") [NASDAQ:IMTKA](Class A Common Stock)]
announced today that Christopher D. Holbrook, its Chief Executive Officer,
Chief Operating Officer, and Director of the Company resiged his positions and
will continue to serve as a consultant to the company.
The Board of the Company appointed Robert H. Oxenberg, the Chairman of
the Company, to act as interim Chief Executive Officer.
