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): October 29, 1998
TELEGEN CORPORATION
(Exact name of registrant as specified in its charter)
14836
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(Commission File Number)
California 84-067214
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(State or other jurisdiction of (I.R.S. Employer Identification
incorporation) No.)
101 Saginaw Drive
Redwood City, California 94063
(Address of principal executive offices)
(415) 261-9400
(Registrant's telephone number, including area code)
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Item 3. Bankruptcy or Receivership
On October 28, 1998, Telegen Corporation, a California corporation (the
"Registrant"), filed a petition for reorganization under Chapter 11 of the
Bankruptcy Code in the United States Bankruptcy court for the Northern District
of California (Case No. 98-34876-DM-11). The Registrant is managing its business
as debtor-in-possession subject to Court approval for certain actions of the
Registrant. See the press release dated October 29, 1998, filed as Exhibit 99.1
hereto and incorporated herein by this reference.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description
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99.1 Registrant's press release dated October 29, 1998.
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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.
TELEGEN CORPORATION
Dated: October 29, 1998 By: /s/ Jessica L. Stevens
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Jessica L. Stevens
President and Chief Executive Officer
Exhibit 99.1
Telegen Corporation Files Petition for Reorganization
October 29, 1998
Redwood City, CA.-- Telegen Corporation announced today that the Company has
voluntarily filed a petition for reorganization under Chapter 11 in the United
States Bankruptcy Court for the Northern District of California.
The Chapter 11 case is pending before U.S. Bankruptcy Court Judge Dennis Montali
and the Company is continuing in business as a debtor in possession. Under
Chapter 11, the Company will obtain an opportunity to reorganize its affairs
under the protection of the Court while it seeks to implement restructuring
initiatives.
Jessica L. Stevens, Chief Executive Officer, said, "The decision to file under
Chapter 11 was a very difficult one. After careful analysis of the financial
health of the Company, we concluded that the best way to protect the value of
the Company and its business is to proceed with the protection of the Court.
Chapter 11 allows us to continue operating while we consider all our strategic
alternatives and develop a restructuring plan."
Telegen Corporation is located in Redwood City, California, and is developing a
proprietary flat panel display technology known as HGED. The Company's stock is
traded on the electronic bulletin board under the symbol TLGN.
More information may be found on the Telegen Corporation web site at
http://www.telegen.com.
