SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report
November 27, 1996
MARKET DATA CORP.
(Exact name of registrant as specified in its charter)
TEXAS 33-22264-FW 76-0252235
(State or jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
14505 TORREY CHASE BLVD. SUITE 410, HOUSTON, TX 77014
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (713) 586-8686
Item 5. Other Information
The Board of Directors met on November 19, 1996 and determined
that it was in the best interest of the company not to continue
the operation of Renet Financial Corporation. The Board elected
to distribute Market Data's ownership in Renet Financial to its
shareholder's of record on November 19, 1996, on a prorata basis.
It is anticipated that this transaction will be completed within
the next 10 days. The distribution of RENET has no negative
impact on the Company.
The Board also stated that it recognizes the need for two
additional outside directors and has agreed to begin a search for
same. The Board's objective is to have this accomplished by the
first quarter (calendar) of 1997.
Effective November 18, 1996, Michael F. Pope and Philip C. LaPuma
resigned as officers and directors of Renet Financial
Corporation. Also Carlos Silva resigned as an officer of Renet
Financial Corporation.
Market Data Corporation (MDC) having advanced certain funds to
Renet Financial Corporation (RENET), held a note from RENET in
the amount of $196,000 secured by an assignment of intellectual
property rights which included all trademarks, service marks, all
trade secrets, franchise rights and territories, all licenses,
franchise systems and agreements, the right to recover for past,
present, and future infringement on the foregoing and all rights
corresponding thereto throughout the world, and all proceeds of
infringement suits. On November 18, 1996, MDC foreclosed on its
note secured by RENET's intellectual property rights.
On November 5, 1996, the Company formed a new wholly owned
subsidiary named, Renet Services, California (RSC), Michael Pope,
and Vicki Pope are officers and directors of this new subsidiary.
On November 18, 1996, MDC placed therein the foreclosed
intellectual property rights described above in exchange for a
secured note for $196,000.
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.
Market Data Corp
(Registrant)
11/27/96 Mike Pope
Date (Signature)
11/27/96 Philip LaPuma
Date (Signature)
