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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 Act of 1934
Date of Report (Date of earliest event reported): May 3, 1999
INTERLOTT TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
Delaware Commission File Number 001-12986 31-1297916
(State of Incorporation) (I.R.S. Employer
Identification No.)
10830 Millington Ct, Cincinnati, Ohio 45242
(Address of principal executive offices, including zip code)
(513) 729-7000
(Registrant's telephone number, including area code)
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Item 5. Other Events
See the following press release, dated May 3, 1999 announcing the transfer of
Chief Executive Officer duties:
INTERLOTT TECHNOLOGIES, INC. APPOINTS ITS
PRESIDENT,
DAVID F. NICHOLS, CHIEF EXECUTIVE OFFICER
CINCINNATI, Ohio, May 3, 1999 - Interlott Technologies, Inc., (Interlott),
(AMEX:ILI) announced today that its Board of Directors has appointed its
president, David F. Nichols (37), to assume the additional role as Chief
Executive Officer, effective immediately. He was appointed president by the
Board of Directors on May 1, 1997. He replaces L. Rogers Wells as Chief
Executive Officer, who will continue to serve as Interlott's Chairman of the
Board.
"In running our day-to-day operations over the past two years, David Nichols
has more than proven his ability to guide our Company in maximizing its
business prospects and implementing our initiatives for the future," L. Rogers
Wells, Chairman of Interlott commented. "Under his leadership, the Company's
revenues are up 32 percent and cash flow increased 48 percent. We have won new
or renewed contracts for our ITVMs in ten states and expanded our business into
six new international markets. We have also opened up new opportunities and
markets by introducing technologically advanced products such as the Automated
Communications System (ACS) and the Modular Vending Platform (MVP)."
"I am excited about Interlott's bright prospects for the future," commented
Nichols, "and look forward to executing our strategies for future growth."
Nichols was Vice President of Operations for Interlott from March, 1993, until
February, 1995, when he was named Senior Vice President, a position he held
until being named president of the Company in 1997.
Interlott designs, manufactures, sells, leases, and services dispensing
machines for the lottery, telecommunications, and financial services
industries. Primary products include instant ticket vending machines (ITVMs)
and pull-tab/break open card vending machines (PTVMs) for the lottery industry,
phone card dispensing machines (PCDMs) for the telecommunications industry, and
SmartCard dispensing machines (SCDMs) for the financial services industry.
For additional information, please contact Denny Blazer, CFO, at (513) 792-7000
or Investor Relations Counsels Bill Roberts at (937) 434-2700 or Ken Paneral at
(847) 729-8521.
Any forward-looking statements in this release are made pursuant to the "safe
harbor" provisions of the Private Securities Litigation Act of 1995. Investors
are cautioned that actual results may differ substantially from such
forward-looking statements. Forward-
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looking statements involve risks and uncertainties including, but not limited
to, continued acceptance of the Company's products and services in the
marketplace, competitive factors, new products and technological changes,
dependence upon third-party vendors, a limited number of customers, political
and other uncertainties related to customer purchases, and other risks detailed
in the Company's periodic report filings with the Securities and Exchange
Commission.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Interlott Technologies, Inc.
/s/ Dennis W. Blazer
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Dennis W. Blazer
Chief Financial Officer
Date: May 14, 1999
