UNITED STATES
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):
March 15, 1999
TOROTEL, INC.
(Exact name of registrant as specified in its charter)
Missouri
(State or other jurisdiction of incorporation)
1-8125 44-0610086
(Commission File Number) (IRS Employer
Identification No.)
13402 South 71 Highway, Grandview, Missouri 64030
(Address of principal executive of offices) (Zip Code)
Registrant's telephone number, including area code
(816) 761-6314
N/A
Former name or former address,
if changed since last report)
Item 5. Other Events.
On March 15, 1999, Torotel, Inc. and Electronika,
Inc. mutually agreed to cancel their merger plans due
to increased regulatory obstacles and higher than
anticipated losses of Torotel.
In addition, Peter B. Caloyeras has resigned as
Chief Executive Officer of Torotel, Inc. and Dale H.
(Herb) Sizemore, Jr., the son of the founder of
Torotel, Inc, was named as Caloyeras replacement.
Both Torotel and Electronika continue to discuss
other alternatives to enhance the shareholder value of
their respective companies through a possible
relationship in the future.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit Description
I News Release dated March 22, 1999
SIGNATURE
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.
TOROTEL, INC.
Date: March 23, 1999 By: /s/ H. James Serrone
H. James Serrone
Vice President
of Finance and
Chief Financial
Officer
EXHIBIT INDEX
Exhibit Description
I News Release dated March 22, 1999
Exhibit I
NEWS RELEASE
FOR IMMEDIATE RELEASE
MONDAY, MARCH 22, 1999
TOROTEL AND ELECTRONIKA CANCEL MERGER PLANS
KANSAS CITY, MO, March 22 Torotel, Inc. (OTC:TTLO)
announced that it and Electronika, Inc. mutually
agreed to cancel their merger plans due to increased
regulatory obstacles and higher than anticipated
losses of Torotel.
In addition, Peter B. Caloyeras resigned as Chief
Executive Officer of Torotel, Inc. and Dale H. (Herb)
Sizemore, Jr., the son of the founder of Torotel,
Inc., was named as Caloyeras replacement.
Both Torotel and Electronika continue to discuss other
alternatives to enhance the shareholder value of their
respective companies through a possible relationship
in the future.
Torotel, Inc. specializes in the design and
manufacture of high-power, high-reliability, high-
density switching power supplies, rack mounted power
supplies, and a broad range of precision magnetic
components used in commercial, industrial and military
electronics. Torotels products are sold to original
equipment manufacturers for use in computers,
telecommunications systems, digital control devices,
and avionics equipment.
