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U.S. 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
Commission file number: 0-25338
INTIME SYSTEMS INTERNATIONAL, INC.
(Name of small business registrant in its charter)
DELAWARE 65-0480407
(State or other jurisdiction of (I.R.S.Employer
incorporation or organization) Identification No.)
1601 Forum Place, Suite 500, West Palm Beach, FL 33401
(Address of principal executive offices) (Zip Code)
Registrant's telephone number:(407) 478-0022
Item 5. Other Events
The Company is currently discussing with Oracle Corporation ("Oracle"),
a proposed agreement which would make more formal the Company's relationship
with Oracle as it relates to its TAMS/O software product. Based on various
discussions, meetings and written correspondence between the respective
companies, it appears that the general structure of any agreement may include
the following provisions: advanced royalty payments; minimum royalties per sale;
separate maintenance fee participation;
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primary product sales and sales support responsibility, product maintenance
responsibility and an optional buyout, which provides for a perpetual "no
fee" license to use and sell the product, after five years.
There can be no assurance that any agreement with Oracle will be
reached.
In connection with the "Safe Harbor" Provision of the Private
Securities Litigation Reform Act of 1995, the Company is hereby filing
cautionary statements identifying important factors that could cause the
Company's actual results to differ materially from those projected in
forward-looking statements made by or on behalf of the Company.
EXHIBITS
Exhibit 99: Cautionary statement for purpose of the "Safe Harbor"
Provision of the Private Securities Litigation Reform Act of
1995.
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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 on July
11, 1996 by the following persons, thereunto duly authorized.
InTime Systems International, Inc.
By: /S/ William E. Berry
William E. Berry
President, Chief Executive Officer
By: /S/ Mark Murphy
Mark Murphy
Chief Financial Officer
(Principal Financial and
Accounting Officer)
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EXHIBIT 99
CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995.
The Company cautions readers that the statements made in Item 5
relating to a possible agreement with Oracle are forward-looking statements
within the meaning of Section 27 A of the Securities Act of 1933 and Section
21 E of the Securities Exchange Act of 1934. Additionally, the Company's
officers may from time to time make forward-looking statements within the
meaning of the same Acts. The results anticipated by any of these forward-
looking statements made by or on behalf of the Company may not occur.
Important factors that may cause actual results to differ materially from the
forward-looking statements include the following: (1) the length of the sales
cycle for HR/payroll systems and TAMS because of their complexity, size and
cost; (2) Oracle's ability to capture market share and sell TAMS/O with its
systems; (3) the potential future competition that may develop technology to
compete directly with TAMS; (4) the ability to close an agreement with Oracle;
(5) general competition for consulting services; (6) the ability to maintain
and attract qualified consultants with the skill sets to meet market
standards; and (7) the continued availability of systems and consulting
budgets within large corporations which tend to be susceptible to
reduction during economic downturns and for other reasons.
