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): July 8, 1996
GAMETEK, INC.
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(Exact name of Registrant as specified in its Charter)
DELAWARE 0-23168 65-0007710
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(State or other (Commission File Number) (I.R.S. Employer
jurisdiction of I.D. Number)
incorporation)
Three Harbor Drive
Suite 110
Sausalito, California 94965
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(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (415) 289-0220
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Item 5. Other Events.
At the request of the Board of Directors, Mr. Bill B. Britt, the
principal stockholder of Registrant, purchased an additional 1,060,000 shares
of Registrant's Common Stock as of July 8, 1996 for a purchase price of $2.50
per share, in a private placement transaction. The closing price of a share of
Common Stock on July 8, 1996 was $2.50. The Board of Directors unanimously
approved the sale of such shares in order to provide Registrant with the
capital needed to avoid default under the debt ratio covenants in
Registrant's agreements with Ocean Bank, as well as to provide it with
sufficient net worth to maintain its listing on the Nasdaq National Market.
As a result of the purchase, Mr. Britt now owns, beneficially and of
record, 9,337,853 shares of Common Stock, constituting approximately 81.71% of
the total number of outstanding shares of Common Stock of Registrant.
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Item 7. Financial Statements, Pro Forma
Financial Information and Exhibits.
Listed below are the financial statements, pro forma financial
information and exhibits, if any, filed as part of this report.
(a) Financial statements of business acquired.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Exhibits:
None.
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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.
GAMETEK, INC.
(Registrant)
By: s/Max Rudminat
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Max Rudminat
Chief Financial Officer
(Signature)
