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) April 24, 2000
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SITEK, Incorporated
(Exact name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
33-28417 95-4585824
(Commission File Number) (I.R.S. Employer Identification No.)
1817 West 4th Street, Tempe, Arizona 85281
(Address of Principal Executive Offices) (Zip Code)
(602) 921-8555
(Registrant's Telephone Number, Including Area Code)
(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. OTHER EVENTS.
On April 20, 2000, Sitek Incorporated announced by a press release the
appointment of a new Chief Financial Officer, David A. Bays, who will be
replacing Gloria Zemla. The following is the text of that press release,
excluding the standard description of the company:
SITEK, Incorporated (OTC BB: SITK), a provider of technical and
manufacturing solutions to the semiconductor industry, announced today that
David A. Bays has been appointed Chief Financial Officer of Arizona-based SITEK
and its subsidiaries. Reporting directly to SITEK chairman and CEO, Dr. Don M.
Jackson, Bays brings extensive finance, venture capital and management
experience to the firm. Mr. Bays is replacing Gloria Zemla who is leaving to
pursue other opportunities.
According to Jackson, selecting Bays for the post of CFO helps
complement SITEK's well-seasoned executive staff. "We welcome the immense
industry and worldwide financial expertise that David brings to SITEK," said Dr.
Jackson. "His experience in fund management for numerous semiconductor and
related high-tech companies will be a tremendous asset to the SITEK global
management team."
Jackson cited Bays' financial advisory experience while serving on
several boards of directors as an important benefit to SITEK and its customers.
"Mr. Bays has had direct involvement in business and financial planning,
organization management and market product development at major corporations.
His knowledge of the industry and ability to understand and meet specific client
requirements sets the tone for SITEK's strategy to provide world class products,
service and support to our customers," said Jackson.
Prior to joining SITEK, Bays most recently served as the CFO and vice
president of administration and finance at POS Systems Company, Inc. in Tempe,
AZ. Bays has also served as senior vice president of investment banking at
Princeton American Financial Services Corporation and as president of Venture
Capital Management Corporation, a company responsible for managing venture
capital funds for numerous computer and semiconductor manufacturing
organizations. Bays also served as vice president of Greyhound Capital
Management Corporation, where he managed a venture capital fund that invested
more than $24 million in over 20 companies.
Throughout his financial career, Bays served on the boards of diverse
organizations and institutions. He is currently a board member of the Arizona
Business Leadership; a board member and committee chairman of Enterprise
Network; a member of the Arizona Securities Syndicate Network, GSPED Capital
Resources Foundation, National Association of Venture Capitalists and Who's Who
in Venture Capital. Bays is a graduate of Purdue University where he earned a
bachelor of science degree in economics and marketing.
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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.
SITEK, Incorporated
(Registrant)
Date: April 25, 2000 By: /s/ Don Jackson, Jr.
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Don Jackson, Jr., President, Director
and Chief Executive Officer
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