-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, C2KBc4dH4HQKCEc5hXLvVtB32Ax31w4k9WxxJ2AmGjpQMFmLP4vwwkrPw8TXL4nH rpQY4iDt/3rt2dKuPHL1XQ== 0001019687-06-000898.txt : 20060419 0001019687-06-000898.hdr.sgml : 20060419 20060419173051 ACCESSION NUMBER: 0001019687-06-000898 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060417 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060419 DATE AS OF CHANGE: 20060419 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NETGURU INC CENTRAL INDEX KEY: 0001015920 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 222356861 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-28560 FILM NUMBER: 06768103 BUSINESS ADDRESS: STREET 1: 22700 SAVI RANCH PARKWAY CITY: YORBA LINDA STATE: CA ZIP: 92887 BUSINESS PHONE: 7149742500 MAIL ADDRESS: STREET 1: 22700 SAVI RANCH PKWY CITY: YORBA LINDA STATE: CA ZIP: 92887 FORMER COMPANY: FORMER CONFORMED NAME: RESEARCH ENGINEERS INC/ DATE OF NAME CHANGE: 20000317 FORMER COMPANY: FORMER CONFORMED NAME: RESEARCH ENGINEERS INC DATE OF NAME CHANGE: 19960603 8-K 1 netguru_8k-041905.txt 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) APRIL 17, 2006 --------------------- NETGURU, INC. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) DELAWARE 000-28560 22-2356861 -------- --------- ---------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 22700 SAVI RANCH PARKWAY, YORBA LINDA, CALIFORNIA 92887 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (714) 974-2500 ---------------------------- NOT APPLICABLE - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (SEE General Instruction A.2. below): |_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ITEM 7.01. REGULATION FD DISCLOSURE. On April 17, 2006, netGuru issued a press release announcing that it is considering delisting from Nasdaq and terminating its SEC reporting obligations, while its board of directors continues to evaluate opportunities to merge or sell all or part of its remaining operations. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K. ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS. (a) Financial Statements of Businesses Acquired. -------------------------------------------- Not applicable. (b) Pro Forma Financial Information. -------------------------------- Not applicable. (c) Shell Company Transactions. --------------------------- Not applicable. (d) Exhibits. --------- Number Description ------ ----------- 99.1 Press release dated April 17, 2006 -2- 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. Date: April 19, 2006 NETGURU, INC. By: /S/ BRUCE K. NELSON ---------------------------------------- Bruce K. Nelson, Chief Financial Officer -3- EXHIBIT ATTACHED TO THIS REPORT Number Description ------ ----------- 99.1 Press release dated April 17, 2006 -4- EX-99.1 2 netguru_8kex99-1.txt EXHIBIT 99.1 netGuru ------- Bruce Nelson Dan Matsui/Gene Heller Chief Financial Officer Silverman Heller Associates (714) 974-2500 x-5215 (310) 208-2550 NETGURU INC. CONSIDERS DELISTING AND TERMINATING SEC REPORTING OBLIGATIONS Board of Directors Continues Evaluating Sale, Merger Opportunities Yorba Linda, Calif.--April 17, 2006--netGuru, Inc. (Company) (Nasdaq: NGRU) is considering delisting from Nasdaq and terminating its SEC reporting obligations, while its board of directors continues to evaluate opportunities to merge or sell all or part of its remaining operations. Since November 2005, the special committee appointed by netGuru's board of directors has been evaluating strategic alternatives and options for the Company and its information technology, Web 4, and engineering business process outsourcing businesses. Discussions with a number of public and private entities continue to be held involving potential asset purchases, common stock purchases, and reverse mergers, but, to date, interest has been at levels substantially below valuation indicated by recent stock price. Currently, the Company's cash position is approximately $3.3 million, of which $1.1 million remains restricted in connection with the sale of the REI division in November 2005, and another $1.4 million is reserved for operational commitments, leaving approximately $800,000 in working capital and accessible cash. Revenues are not expected to measurably increase during the next six months and, although cost reductions have continued in force since before the sale of REI, ongoing operations continue to cause net cash usage. A substantial portion of those ongoing expenses is attributable to being a Nasdaq-listed and SEC-reporting company. As a result, the board has determined that it may not be cost-effective for the Company to remain listed on Nasdaq and maintain full-reporting status relative to its remaining operations. Furthermore, as previously announced, the Company is not in compliance with Nasdaq's $1.00 minimum closing bid price requirement for continued listing on The Nasdaq Capital Market. Therefore, an alternative under consideration to conserve resources and avoid involuntary delisting is to voluntarily delist the Company's shares from trading on Nasdaq and terminate the Company's SEC reporting obligations under Sections 12 and 15 of the Securities Exchange Act of 1934. Considering the rate of cash usage in light of the Company's current cash position, if a merger or sale on acceptable terms is not consummated within the next few months, the Company intends to proceed with steps to delist from Nasdaq and terminate its SEC reporting obligations if the Company is then eligible to do so. About netGuru netGuru is an engineering services company offering engineering business process outsourcing (EBPO) services for the architecture, engineering, and construction (A/E/C) industry; document/project collaboration software/solutions for A/E/C companies, enterprise software providers, software integrators, and other businesses engaged in document/project-centric operations; and technical services and support. netGuru offices are located in the United States, Europe, and India. For more information, please visit www.netguru.com. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical or factual information, the matters discussed in this press release, including without limitation, consideration to delist, consideration to terminate SEC reporting obligations, potential sale of all or part of the Company, level of interest relative to market value, present and future cash position, cash requirements, revenues, and timing of discussions and decisions regarding delisting and deregistration, are forward-looking statements that involve risks and uncertainties. Actual future results may differ. Factors that could cause or contribute to such differences in results include, but are not limited to, the special committee's ability to identify, negotiate and consummate any divestiture or other strategic transaction, netGuru's ability to conserve resources and implement further reductions in ongoing expenses, legal and other restrictions on netGuru's ability to voluntarily delist and deregister its common stock, and other factors discussed in the "Risk Factors" Section of netGuru's Form 10-KSB for the fiscal year ended March 31, 2005, and other filings made with the U.S. Securities and Exchange Commission. -----END PRIVACY-ENHANCED MESSAGE-----