-----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, PlWO+uAxqPuNppaR1tKduhGVdYt4aSYBJtDNwLz0x74T2WobYkiVq2814dv+OJjP BRdw4tkuk/1Yxc4HhbB0lQ== 0000903100-02-000040.txt : 20020414 0000903100-02-000040.hdr.sgml : 20020414 ACCESSION NUMBER: 0000903100-02-000040 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020205 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020206 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NETWORK PLUS CORP CENTRAL INDEX KEY: 0001065633 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 043430576 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-26313 FILM NUMBER: 02528058 BUSINESS ADDRESS: STREET 1: 41 PACELLA PARK DRIVE CITY: RANDOLPH STATE: MA ZIP: 02368 BUSINESS PHONE: 6177864000 MAIL ADDRESS: STREET 1: 234 COPELAND ST CITY: QUINCY STATE: MA ZIP: 02169 FORMER COMPANY: FORMER CONFORMED NAME: NETWORK PLUS INC DATE OF NAME CHANGE: 19980709 8-K 1 form8k-networkplus.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): February 5, 2002 NETWORK PLUS CORP. ------------------------------------------------------ (Exact Name of Registrant as Specified in Charter) Delaware ------------------------------------------------------ (State or Other Jurisdiction of Incorporation) 000-26313 04-3430576 - --------------------------------- ----------------------------------- (Commission File Number) (I.R.S. Employer Identification No.) 41 Pacella Park Drive, Randolph, MA 02368 - ----------------------------------- --------------------------------- (Address of Principal Executive Offices) (Zip Code) (781) 473-2000 -------------------------------- (Registrant's Telephone Number, Including Area Code) -------------------------------- n/a -------------------------------- (Former name or former address, if changed since last report) ITEM 5. OTHER EVENTS Network Plus Corp. (the "Registrant") is filing this Current Report on Form 8-K for the purpose of filing with the Securities and Exchange Commission, as an exhibit hereto, the Registrant's press release, dated February 5, 2002, announcing that the Registrant has, along with its operating subsidiary, filed a voluntary petition with the U.S. Bankruptcy Court in Delaware for reorganization under Chapter 11 of the U.S. Bankruptcy Code. A copy of this press release is attached to this Current Report on Form 8-K as Exhibit 99.1. In addition, the Nasdaq Stock Market announced today that the trading halt in the Registrant's common stock was changed to "additional information requested" from the Registrant. Trading will remain halted until the Registrant has fully satisfied Nasdaq's request for additional information. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (a) Financial Statements of Businesses Acquired Not Applicable. (b) Pro Forma Financial Information Not Applicable. (c) Exhibits 99.1 Press Release, dated February 5, 2002. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NETWORK PLUS CORP. Date: February 5, 2002 By: /s/James J. Crowley ---------------------------------- James J. Crowley Executive Vice President and Chief Operating Officer - 2 - EXHIBIT INDEX Exhibit No. Description - ----------- ----------- 99.1 Press Release, dated February 5, 2002. - 3 - EX-99 4 form8k-network_ex99.txt EXHIBIT 99.1 NETWORK PLUS FILES VOLUNTARY CHAPTER 11 PETITION RANDOLPH, Mass., Feb. 5, 2002 (BUSINESS WIRE) -- Network Plus Corp., (NPLS), announced today that it, along with its operating subsidiary, has filed a voluntary petition with the U.S. Bankruptcy Court in Delaware for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The Company is in current discussions with its existing secured bank lenders to obtain debtor-in-possession financing to enable the Company to continue to operate while it seeks to conduct an auction to find a buyer for its business. The Company is also seeking from its secured bank lenders the right to use cash collateral. If the Company is unable to timely identify an acceptable Buyer or is unable to work out acceptable arrangements with its secured bank lenders and other creditors, the Company will seek to keep operating for as long as possible while it explores all alternatives. The Company's secured bank lenders include Fleet National Bank, Goldman Sachs Credit Partners L.P., Netplus Funding, Inc. (an affiliate of DLJ) and IBM Credit Corporation. Network Plus currently serves in excess of 300,000 local access lines, 300,000 long distance lines and thousands of data lines, and reaches approximately 75,000 customers and has significant penetration of its markets ranging as high as an estimated 7.4%. Robert T. Hale, Jr., President and Chief Executive Officer of Network Plus, said, "This was a very difficult decision. However, at this time, we believe that our actions are in the best interests of our creditors, employees and customers." ABOUT NETWORK PLUS Network Plus is a network-based integrated communications provider headquartered in Randolph, Massachusetts. Network Plus offers telecommunications and broadband data services, primarily to small and medium-sized business customers located in major markets in the Northeastern and Southeastern regions of the United States. The Company's bundled product offerings include local and long distance service as well as enhanced, high-speed data and Internet services. For more information on Network Plus Corp., please visit the Company's website at www.networkplus.com. OF NOTE This press release includes certain forward-looking statements that involve a number of risks and uncertainties. For this purpose, any statement that is not a statement of historical fact, including without limitation any statement concerning the anticipated impact of the Chapter 11 petition, availability of capital, and any statement using the term "anticipates," "expects," "believes," "intends" or any similar expression, is a forward-looking statement. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the impact of the Chapter 11 filing on the Company's business, including the potential loss of customers, employees and suppliers, the inability of Network Plus to obtain additional funding in sufficient amounts and on acceptable terms or at all, the inability of Network Plus to use cash collected in its business, the inability of Network Plus to find a buyer for its business, Network Plus' future financial performance and condition and the other factors set forth in its most recent report on Form 10-Q and other reports filed with the Securities and Exchange Commission. Network Plus undertakes no obligation to update the information contained on its website or in this release, to review or confirm analysts' expectations or estimates or to release publicly any revisions to a forward-looking statement to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. CONTACT: Network Plus Corp. Investor Contact: Robert Cobuzzi rcobuzzi@nwp.com (781) 473-5000 -----END PRIVACY-ENHANCED MESSAGE-----