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 EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) July 28, 2000
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SYS
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(Exact Name of Registrant as Specified in Charter)
California 0-4169 95-2467354
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification Number)
9620 Chesapeake Drive, Suite 201, San Diego, CA 92123
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (858) 715-5500
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(none)
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Event
On July 7, 2000, the Company's Letter of Intent (LOI) with Mr. Guadolupe
Torres, the Chairman and principal shareholder of Systems Integration &
Research, Inc. (SIR), to acquire SIR expired. The Company is continuing
dialogue with Mr. Torres and his attorney, but at this time there can be no
assurance that the SIR acquisition will be successful.
As was reported in the Company's March 14, 2000 Form 8-K filing, the
Company's plan is to acquire all of the stock of SIR in exchange for cash and
stock in the Company. The Company has held discussions with SIR over the last
couple of years and has completed the majority of its due diligence on SIR
since the LOI was signed on February 24, 2000. Part of the due diligence to
date has included a review of SIR's financial position by the Company's
auditor, J. H. Cohn LLP.
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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 of the
undersigned hereunto duly authorized.
SYS
(Registrant)
Date: July 28, 2000 By: /s/ Michael W. Fink
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Michael W. Fink, Secretary
