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
December 20, 2000
Date of Report (Date of earliest event reported) ...............................
NDC Automation, Inc.
................................................................................
(Exact name of registrant as specified in its charter)
Delaware 0-18253 56-1460497
................................................................................
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No)
of incorporation)
3101 Latrobe Drive Charlotte NC 28211
................................................................................
(Address of principal executive offices) (Zip Code)
(704) 362-1115
Registrant's telephone number, including area code .............................
................................................................................
(Former name or former address, if changed since last report)
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Item 1. Changes in Control of Registrant.
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None.
Item 2. Acquisition or Disposition of Assets.
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None.
Item 3. Bankruptcy or Receivership.
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None.
Item 4. Changes in the Registrant's Certifying Accountant.
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None.
Item 5. Other Events.
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The Company has renegotiated its license agreement with Netzler &
Dalgren Co AB ("Netzler & Dahlgren"), located in Sweden. The new agreement,
dated November 30, 2000, expands the Charlotte based Company's territory to
sell to end-users worldwide and to continue to sub-license the technology in
North America on a non-exclusive basis. In addition, the note payable to
Netzler & Dahlgren of approximately $606,000 has been restructured, the
interest was lowered from 16% to 9% and approximately $120,000 of the note was
forgiven. Under the new agreement, Netzler & Dahlgren is obligated to extend
its existing Letter of Credit to NDCA's bank until April 30, 2001; The Company
has been given assurances that upon receipt of the Letter of Credit the bank
will then extend the Company's line of credit of $450,000 to April, 2001.
Due to its present financial condition, the Company continues to explore a
potential business combination or sale of substantially all its assets. There
can be no assurance that the Company can meet its objectives.
Exhibit 10.1: Copy of 10-Year Agreement with Netzler &
Dalgren
Exhibit 10.2: Copy of Notice Letter from Summit Business
Capital Corp.
Exhibit 10.3: Copy of Second Amended, Restated & Substituted
Secured Note
Exhibit 10.4: Copy of Third Amendment to Inventory & Accounts
Receivable Loan & Security Agreement
Item 6. Resignations of Registrant's Directors.
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None
Item 7. Financial Statements and Exhibits.
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None
Item 8. Change in Fiscal Year.
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None
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SIGNATURE
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.
NDC AUTOMATION, INC.
Date: December 20, 2000 By: /s/ Claude Imbleau
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Claude Imbleau
Chief Operating Officer
