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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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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): March 2, 1999
RACOM SYSTEMS, INC.
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(Exact name of registrant as specified in its charter)
Delaware
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(State of or other jurisdiction of incorporation)
000-21907
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(Commission File Number)
84-1182875
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(IRS Employer Identification No.)
6080 Greenwood Plaza Blvd., Greenwood Village, CO
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(Address of principal executive offices)
80111
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(Zip code)
303-771-2077
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(Telephone number, including area code)
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ITEM 5 - OTHER EVENTS:
Racom Systems, Inc. has been in the process of identifying sources of
short-term or longer term debt or equity financing to fund its research and
development and its operations. To date, no financing has been made available
under terms acceptable to the Company. As a result, the Company is unable to
continue to fund operations at its previous levels. Accordingly, most
remaining employees of the Company have been furloughed for an indefinite
period of time. The Company will enter a period whereby its primary function
will be to collect future royalties if and when receivable pursuant to the
Company's existing Radio Frequency Identification (RFID) technology licenses
to three multinational semiconductor companies.
There can be no assurance that the Company will be successful in obtaining
financing or that royalties and/or license fees will become due in the future.
SIGNATURES
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.
RACOM SYSTEMS, INC.
By: /S/ Arthur B. Rancis
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Arthur B. Rancis
President, CEO and CFO
Date: March 15, 1999
