SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
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) October 1, 1998
GEOTEK COMMUNICATIONS, INC.
(Exact name of registrant as specified in charter)
Delaware 0-17581 22-2358635
(State of other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
102 Chestnut Ridge Road, Montvale, New Jersey 07645
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 201-930-9305
N/A
(Former name or former address, if changed since last report)
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Item 5. Other Events
On October 1, 1998, Geotek Communications, Inc. (the "Company") issued a
press release announcing that on October 18, 1998 the Company will shut down its
U.S. based digital wireless networks and cease to provide its wireless mobile
logistics systems. A copy of the press release is attached hereto as Exhibit 99
and incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits.
(99) Press Release dated October 1, 1998
<PAGE>
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.
GEOTEK COMMUNICATIONS, INC.
Date: October 2, 1998 By: /s/ Robert Vecsler
---------------------------------
Name: Robert Vecsler
Title: Secretary and General Counsel
Contact: Investor Relations 201-930-9305
GEOTEK TO SHUT DOWN
DIGITAL WIRELESS NETWORKS
Montvale, New Jersey - October 1, 1998 - Geotek Communications, Inc.,
(OTC:GOTKQ), announced today that it will shut down its U.S. based digital
wireless networks and cease to provide its proprietary wireless mobile logistics
systems. The Company provided notice to its subscribers in the eleven U.S.
markets in which it operates, that service will terminate on October 18, 1998.
As part of this action, the Company will lay off approximately 160 employees in
eleven U.S. markets and at its corporate headquarters in Montvale.
The Company filed for Chapter 11 protection in June 1998 when it had
insufficient cash to fund its operations. At the time of the filing, the Company
secured a $10M debtor-in-possession ("DIP") financing to support the Company's
operations while it pursued new financing and a plan of reorganization. The
Company is currently attempting to negotiate additional DIP financing to support
the Company's continued pursuit of a plan and an orderly wind-down of its
operations.
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