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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) November 1, 1996 (October 29,
1996)
SIGMA ALPHA GROUP, LTD.
_______________________
(Exact name of Registrant as specified in charter)
Delaware 33-90344 23-2498715
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1341 North Delaware Avenue, Philadelphia, Pennsylvania 19125
_________________________________________________________________
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (215)-425-8682
_________________________________________________________________
(Former Address) (Zip Code)
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Item 5. Other Events
Sigma Alpha Group, Ltd. ("SGAL"), through a press release dated October
29, 1996 announced that on October 25, 1996 SGAL received its second order from
Guangdong Radio Station China-Pearl River Stock Market Radio ("Pearl") for an
additional 10,000 Stock Market Information Receiver ("SIR") units at a price of
$32.00 each. The SIR units allow for the broadcast of securities news,
information and special programming in China. The radio station has the
following programs: Instant Securities Quotations, Securities Market Roundup,
Investors Hotline, Shenzhen & Shanghai Stock Markets Analysis and Securities
Talk Show. Linked up with computer systems of the Shenzhen and Shanghai Stock
Exchanges, the radio station can broadcast the latest securities news and
invite well known securities experts and analysts in Beijing, Shanghai,
Guangzhou, and Shenzhen as its guest to talk to listeners and exchange views on
the securities markets.
On October 12, 1996, SGAL commenced the delivery of an initial 10,000 SIR
units which Pearl ordered in the summer of 1996. SGAL was advised by Pearl
that substantially all of the 10,000 SIR units represented by the initial order
have been sold. Accordingly, Pearl placed its second order for an additional
10,000 SIR units.
The Company's President, Peter S. Pelullo, said "We believe that this
second 10,000 unit order confirms our belief that our technology will be
positively accepted in the Chinese market place. Pearl advised us that lines
of subscribers formed to purchase the SIR units as soon as Pearl began
accepting orders for the units. The Company intends to aggressively market
the SIR units as well as the Company's Digital Voice Pager throughout China."
SGAL, through a press release dated November 1, 1996, announced that on
October 31, 1996, SGAL received an initial order from Radio Shanxi ("Shanxi")
for 6,000 SIR units at a price of $35 each, as well as related equipment
necessary to implement the SIR technology through Shanxi's existing broadcast
facilities. Shanxi, located in northern China, advised SGAL that Shanxi is the
only FM broadcast station in China which has permission to relay multi channel
programming via satellite.
Peter S. Pelullo said, "Our agreement with Radio Shanxi should allow for
the introduction of our technology to numerous mid and small sized Chinese
cities which have access to Radio Shanxi's satellite broadcasting system
thereby greatly expanding the number of potential purchasers for the Company's
SIR units. Our representatives in China intend to work closely with Radio
Shanxi to promote the use of our technology throughout the country.
The total number of SIR units ordered through October 31, 1996 is 26,000.
SGAL is developing a Digital Voice Pager system ("Voice Pager") which
utilizes digital signal processing to transmit voice messages over existing
FM broadcast subcarriers to a hand held Voice Pager unit. The Company's
subsidiary has a "patent pending" for the Voice Pager and expects the Voice
Pager to be available for delivery in the early part of 1997, provided current
projections are realized. The Company's "patent pending" technology may have
other applications which can be developed in the future.
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Signatures
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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.
SIGMA ALPHA GROUP, LTD.
(Registrant)
November 4, 1996
By: s/ Scott A. McPherson
__________________________
Scott A. McPherson
Principal Financial Officer
