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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): July 10, 2000
USA TECHNOLOGIES, INC.
(Exact Name of Registrant as Specified in its Charter)
Pennsylvania 33-70992 23-269963
(State or other (Commission File Number) (I.R.S. Employer
jurisdiction of Identification No.)
incorporation)
200 Plant Avenue
Wayne, Pennsylvania 19087
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (610) 989-0340
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Item 5. Other Events.
As previously reported on June 29, 2000, the Company has received and
accepted subscription agreements from five investors to purchase an aggregate of
2,200,000 shares of restricted Common Stock. On July 20, 2000 the purchase price
per share of the Common Stock was reduced from $1.50 per share to $1.00 per
share, for a new aggregate purchase price of $2,200,000. Pursuant to the
agreements, full payment for the shares by the investors is to be made to the
Company on or before August 31, 2000. To date, the Company has not received any
of the purchase price for the shares of Common Stock.
On July 11, 2000, the United States Government granted the Company a
design patent entitled Electronic Commerce Terminal Enclosure, and on July 18,
2000, granted the Company a design patent entitled Electronic Commerce Terminal
Enclosure For A Vending Machine. On July 10, 2000, the Company received a notice
of allowance of its utility patent entitled Credit And Bank Issued Debit Card
Operated System And Method For Controlling A Vending Machine.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
USA TECHNOLOGIES, INC.
By: /s/ George R. Jensen, Jr.,
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George R. Jensen, Jr.,
Chief Executive Officer
July 21, 2000
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