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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): November 10, 1998
MORROW SNOWBOARDS, INC.
(Exact name of registrant as specified in its charter)
Oregon 0-27002 93-1011046
(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification Number)
2600 Pringle Road, S.E.
Salem, OR 97302
(Address of principal executive offices)
(503) 375-9300
Registrant's telephone number, including area code
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Item 5. Other Events.
On November 10, 1998, Ameri-Tool Industries, Inc. ("Ameri-Tool") filed suit
against Morrow Snowboards, Inc. ("Morrow") in Marion County, Oregon Circuit
Court (Case No. 98C19786). Ameri-Tool is seeking payment for molded plastic
products and related goods furnished to Morrow in the amount of $169,405.10,
together with interest. Morrow believes that Morrow and Ameri-Tool, subsequent
to their initial agreement for the sale of such goods, entered into a revised
payment arrangement with regard to such products, in addition to other
agreements regarding the delivery by Ameri-Tool of additional products and
tooling. Morrow intends to try to negotiate a new agreement with Ameri-Tool for
payment of amounts owing and delivery of additional product and tooling. If
such negotiations are unsuccessful, Morrow intends to defend against the claim
and seek to enforce the revised agreement. In addition, Morrow may file a
counterclaim to seek any damages incurred by Morrow due to Ameri-Tool's failure
to deliver the products and tooling in accordance with the revised agreement.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, as amended, the registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized, in the
City of Salem, State of Oregon, on November 24, 1998.
MORROW SNOWBOARDS, INC.
By: /s/ P. Blair Mullin
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P. Blair Mullin
President and Chief Financial Officer
(Principal Executive, Financial and Accounting Officer)
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