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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
MAY 8, 1998
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Date of report (Date of earliest event reported)
VOXEL
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(Exact Name of Registrant as Specified in Its Charter)
CALIFORNIA
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(State or Other Jurisdiction of Incorporation)
0-24836 33-0301060
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(Commission File Number) (I.R.S. Employer Identification No.)
26081 MERIT CIRCLE, SUITE 117 LAGUNA HILLS, CA 92653
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(Address of Principal Executive Offices) (Zip Code)
714-348-3200
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(Registrant's Telephone Number, Including Area Code)
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Item 5. Other Events.
On May 8, 1998, Voxel announced that a decision has been reached in the
company's dispute with General Scanning, Inc. (GSI) and that the arbitrators
awarded $1.9 million to GSI. Voxel and GSI entered into a contract in 1994
pursuant to which GSI was to engineer and manufacture the Voxcam(R) imager.
Voxel claimed that GSI breached its obligations under the contract. A copy of
Voxel's press release announcing this event is attached.
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 thereunto duly authorized.
VOXEL
Date: May 15, 1998 By /s/ Murray Rudin
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Murray E. Rudin
Chief Financial Officer
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EXHIBIT INDEX
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Exhibit No. Document Page
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99.5 Text of Voxel Press Release dated May 8, 1998 4
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EXHIBIT 99.5
NEWS RELEASE
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Contact: Larry Selwitz, Fin-Com
(714) 645-8410
Murray Rudin, Voxel
(714) 348-3200
For Immediate Release
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Voxel Announces Arbitration Decision
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May 8, 1998 -- Laguna Hills, California -- Voxel (NASDAQ:VOXL) announced today
that a decision has been reached in the company's dispute with General Scanning,
Inc. (GSI). The arbitrators have awarded $1.9 million to GSI.
Voxel and GSI entered into a contract in 1994 pursuant to which GSI was to
engineer and manufacture the Voxcam(R) imager. Voxel claimed that GSI breached
its obligations under the contract.
Dr. Allan Wolfe, Voxel's CEO said, "The arbitrators' decision is disappointing.
This decision complicates and compromises the Company's ability to sustain
ongoing activities. The Company is exploring a variety of strategic
alternatives."
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