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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) February 9, 1998
JMAR INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
STATE OF DELAWARE
(State or other jurisdiction of incorporation)
1-10515 68-0131180
(Commission File No.) (IRS Employer Identification No.)
3956 SORRENTO VALLEY BLVD., SAN DIEGO, CALIFORNIA 92121
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (619) 535-1706
NOT APPLICABLE
(Former name of or former address, if changed since last report)
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Item 5. OTHER EVENTS
On February 9, 1998, the Registrant issued a press release which
contained an announcement to extend the Registrant's warrants that currently
trade on the NASDAQ National Market System through April 20, 1998, with no other
change in terms.
Item 7. EXHIBITS
The following exhibit is filed as part of this report:
21.1 Press Release
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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.
DATE: March 2, 1998 JMAR INDUSTRIES, INC.
(Registrant)
BY: /s/ Dennis E. Valentine
--------------------------------
Dennis E. Valentine
Chief Financial Officer
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INDEX TO EXHIBITS
Located at Page
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Exhibit 21.1 Press Release 5
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21.1
[JMAR LOGO]
Contacts
Dennis E. Valentine Eugene Heller/Glenn Schoenfeld
Chief Financial Officer Silverman Heller Associates
(619) 535-1706 (310) 208-2550
http://www.jmar.com
FOR IMMEDIATE RELEASE
JMAR EXTENDS WARRANT EXPIRATION DATE
SAN DIEGO, California (February 9, 1998) - JMAR Industries, Inc. (NASDAQ
NM:JMAR) announced today that it will extend for an additional 60 days the
expiration date of its warrants that currently trade on the NASDAQ National
Market System under the symbol: JMARW. With this extension the warrants, which
were originally issued by JMAR on February 16, 1993 for a five-year period, will
now be exercisable by their holders with no change in terms through the close of
business on Monday, April 20, 1998.
During the 60-day warrant extension period JMAR will evaluate alternative
proposals for exchanging the current warrants for new, long-term warrants which
could have different exercise and redemption features. Depending upon the
outcome of that evaluation the Company could offer new warrants in exchange for
the current warrants or it could allow the current warrants to expire at the end
of the 60 day period.
Each current JMARW warrant, 2,705,882 of which are outstanding, allows its
holder to purchase from the Company one share of common stock for $4.68. The
Company currently has the right on 30 days notice to redeem the warrants for
$0.05 each, if the closing bid price for JMAR's common stock exceeds $6.38 per
share for 20 consecutive trading days.
John S. Martinez, Ph.D, JMAR's Chairman and CEO said, "We have extended the
expiration date of these warrants pending the completion of our evaluation to
ensure they remain viable investments to those who purchased them, many of whom,
we believe, also own JMAR common stock. In view of our continually improving
fundamentals and existing growth prospects, we believe the confidence expressed
in JMAR by all who have invested in it continues to be well placed, and we are
committed to the pursuit of long-term strategies designed to deliver maximum
value over time. We now possess a growing, profitable core manufacturing
operation and a host of promising emerging technologies, some of which are
scheduled for initial commercial deployment later this year."
"On the strength of these prospects we are currently reviewing the feasibility
of a warrant exchange program that would issue new warrants having updated terms
more consistent with the Company's overall strategy and goals and to provide
more flexibility in their administration", Dr. Martinez added.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: The statements regarding future sales and earnings growth and the projects
or processes currently under development are forward-looking statements that
involve risks and uncertainties that could cause actual results to differ
materially from those set forth in the forward-looking statements, including
delays in technology or product developments, shipment or cancellation of
orders, timing of future orders, customer reorganizations, fluctuations in
demand and the other risks detailed from time-to-time in the Company's reports
which are filed with the Securities and Exchange Commission.
JMAR Industries, Inc. develops, manufactures and markets precision measurement,
process control and manufacturing systems and laser products for the
microelectronics and medical industries and is a leading developer of advanced
lithography sources for production of higher performance semiconductors.
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