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):
December 19, 1997
DIGITAL DATA NETWORKS, INC.
(Exact name of registrant as specified in its charter)
Washington 0-27704 91-1426372
(State of Incorporation) (Commission File No.) (I.R.S. Employer
Identification Number)
3102 Maple Avenue, Suite 230
Dallas, Texas 75201
(Address of principal executive offices)
(214) 969-7200
(Registrant's telephone number, including area code)
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ITEM 5. Other Events.
In December 1997, the Company's board of directors determined that it
was in the best interests of its shareholders for its Transit Network Division
to cease operating in Providence, Rhode Island, the result of continuing net
operating losses there.
Further, the board determined that its Transit Network Division would
no longer market its next-stop automated audio/visual announcement system
("NextStop"), due to the uncertainty surrounding its manufacturer, as well as
the emergence of an increasing number of competitors that have manufacturing and
financial resources far greater than those of the Company. Consequently, the
Company has notified the Rhode Island Public Transit Authority ("RIPTA") that it
would not be able to complete the contract that it was previously awarded to
install an automated next-stop route announcement system on six of RIPTA's
buses.
RIPTA has indicated an interest in taking over the operation of the
Company's electronic information system in Providence, Rhode Island, and based
on preliminary discussions with RIPTA, the Company anticipates no adverse
financial or legal consequences resulting from the closure of the Providence,
Rhode Island office, or the planned transfer of the operation to RIPTA.
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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 by the
undersigned hereunto duly authorized.
DIGITAL DATA NETWORKS, INC.
Date: January 21, 1998 By: /s/ Donald B. Scott, Jr.
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Donald B. Scott, Jr., President
