FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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 7, 1998
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Professional Dental Technologies, Inc.
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(Exact name of registrant as specified in its charter)
Nevada 1-11032 71-0644350
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
633 Lawrence Street Batesville, Arkansas 72501
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (870) 698-2300
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ITEM 5. OTHER EVENTS
On February 7, 1998, Professional Dental Technologies, Inc. (the
"Company") entered into an agreement with Lysta Production A/S ("Lysta") to
settle a lawsuit brought by Lysta against the Company and one of its
subsidiaries. The settlement significantly reduces the amount of royalties the
Company would have been required to pay if a license agreement relating to the
Company's ultrasonic dental scalers had been enforced as Lysta claimed in its
complaint. The parties agreed to a mutual release of all claims against each
other thereby freeing the Company of any claim by Lysta that it cannot use
certain information to produce ultrasonic dental scalers. The impact of the
settlement on the Company's current financial condition will not be material.
On February 9, 1998, PDT Image, Inc. ("PDT"), a wholly-owned subsidiary
of the Company, entered into a settlement agreement with Source-1 Dental Image
Inc., David Gane and Wayne Rees; Raster Builders, Inc. and Eric Chasanoff ; and
certain other Canadian companies and individuals. The settlement provides for
the immediate payment of $750,000 in cash to PDT in consideration for PDT
relinquishing its proprietary interests in certain computer software programs.
The parties agreed to a mutual release of all claims relating to claimed
proprietary interests in the computer software programs. The $750,000 settlement
amount will be reported as extraordinary income in the Company's second fiscal
quarter. The release of the Company's interest in the software programs is not
expected to have a material impact on the Company's future operations.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this reoprt to be signed on its behalf by the
undersigned thereunto duly authorized.
Professional Dental Technologies, Inc.
Date: 2/10/98 By: /s/ William T. Evans
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President & CEO
