0001185185-17-002108.txt : 20171004 0001185185-17-002108.hdr.sgml : 20171004 20171004135350 ACCESSION NUMBER: 0001185185-17-002108 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170929 ITEM INFORMATION: Bankruptcy or Receivership ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20171004 DATE AS OF CHANGE: 20171004 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COPsync, Inc. CENTRAL INDEX KEY: 0001383154 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER COMMUNICATIONS EQUIPMENT [3576] IRS NUMBER: 980513637 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-37613 FILM NUMBER: 171121135 BUSINESS ADDRESS: STREET 1: P.O. BOX 802108 CITY: DALLAS STATE: TX ZIP: 75380-2108 BUSINESS PHONE: 972-865-6192 MAIL ADDRESS: STREET 1: P.O. BOX 802108 CITY: DALLAS STATE: TX ZIP: 75380-2108 FORMER COMPANY: FORMER CONFORMED NAME: GLOBAL ADVANCE CORP DATE OF NAME CHANGE: 20061208 8-K 1 copsync8k100317.htm 8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
 
FORM 8-K
 
 
Date of Report (Date of earliest event reported): September 29, 2017

COPSYNC, INC.
(Exact name of registrant specified in charter)
 
Delaware
(State of
Incorporation)
001-37613
(Commission File Number)
98-0513637
(IRS Employer
Identification No.)
 
400 Poydras Street, Suite 2100, New Orleans, LA 70130
(Address of principal executive offices)  (Zip Code)

(972) 865-6192
(Registrant’s telephone number, including area code)
 
                                                                                                      
(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))
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230. 405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company           ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 1.03
Bankruptcy or Receivership
 
On September 29, 2017, the Company filed in the U.S. Bankruptcy Court for the Eastern District of Louisiana a voluntary petition seeking relief under Chapter 11 of the U.S. Bankruptcy Code.  The Company will be presenting various first-day motions on October 4, 2017, as scheduled by the Bankruptcy Court.
 
Item 7.01
Regulation FD Disclosure
 
On October 4, 2017, the Company issued a press release announcing the filing of the bankruptcy petition and describing some of the Company’s objectives in commencing the bankruptcy case.
 
In accordance with general instruction B.2 of Form 8-K, the information under Item 7.01 and Item 9.01 is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934.
 
Item 9.01
Financial Statements and Exhibits
 
Exhibits:
 
99.1           Press release dated October 4, 2017


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.

 
Dated: October 4, 2017
COPsync, Inc.
 
By:          /s/    Rodney Bienvenu                              
Name: Rodney Bienvenu
Title:   Chief Executive Officer



EX-99.1 2 ex99-1.htm EX-99.1

 
 
Exhibit 99.1
[COPsync LOGO]

COPsync, Inc. Files for Chapter 11 Protection

NEW ORLEANS, LA – October 4, 2017– COPsync, Inc. (OTCPink: COYN) today announced that it has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Eastern District of Louisiana. Adams and Reese LLP has been retained as COPsync’s counsel for the chapter 11, and all pleadings filed can be located at www.copsync.com. COPsync has faced challenges in the past year to include development and installation of legal updates, product updates, and customer service needs. In addition, COPsync has struggled to pay its creditors, employees and debt obligations. The Board of Directors authorized the filing of the Chapter 11 petition to definitively address these challenges.
COPsync retains valuable assets through its dedicated employees and multiple products. COPsync products include the COPsync Network, COPsync911, COURTsync, WARRANTsync, and Vidtac. COPsync has significant value in its intellectual property, including a patent on the COPsync Network. We believe that the value of these products in the marketplace is enough to enable the Company, with proper funding and restructuring, to return to a stable future. We expect to move through this process quickly, ideally within 60-90 days, but recognize that various stakeholders and creditors may request, and could be granted, more time.
“We tried to avoid filing for Chapter 11, but it became clear to us it was the best way forward to usher in a new vision for COPsync,” stated COPsync Chief Executive Officer Ron Bienvenu. “I believe the COPsync products can help protect the men and women in law enforcement who put their lives on the line every day to protect our communities. In the wake of the tragic shooting in Las Vegas, it only underscores the critical nature of our solutions. Our employees have endured many challenges in the last year but remain committed to providing a superior product and service to our loyal customers. This new chapter in COPsync’s evolution will allow us to focus on what is important – servicing our customers and delivering unmatched, mission-critical and real-time communications and situational awareness technologies to them. It is important to note to all of our constituents that this action represents a clear-cut step on the road to recovery and growth. Chapter 11 restructuring will allow us to more effectively manage our debt, pay suppliers and vendors throughout the restructuring process, provide wages to employees, and make necessary software updates.”
About COPsync, Inc.
COPsync, Inc. (OTCPink: COYN) is a technology company that connects law enforcement officers across the nation, enabling communication and sharing of mission-critical non-adjudicated information in real-time. This saves officers’ lives, keeps the public safer, and helps law enforcement officers catch criminals. The COPsync Network™ can help stop child kidnappings, vehicle thefts, bank robberies and other crimes in progress, and arms the nation’s law enforcement officers with needed information so they can help defend against terrorism. For more information, go to www.copsync.com.
Contact:
Media Relations Department
media@copsync.com