-----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, ObdHDiqbCRDvGejebB2uX24PlUOXyJBYxn4rihzJQtohAUE18W0F5wAcf/Vn49BQ UBY6U7J2P5TxNVg7WElciQ== 0000351998-06-000011.txt : 20060928 0000351998-06-000011.hdr.sgml : 20060928 20060928140244 ACCESSION NUMBER: 0000351998-06-000011 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060926 ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant FILED AS OF DATE: 20060928 DATE AS OF CHANGE: 20060928 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DATA I/O CORP CENTRAL INDEX KEY: 0000351998 STANDARD INDUSTRIAL CLASSIFICATION: INSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS [3825] IRS NUMBER: 910864123 STATE OF INCORPORATION: WA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-10394 FILM NUMBER: 061113455 BUSINESS ADDRESS: STREET 1: 10525 WILLOWS RD NE STREET 2: P O BOX 97046 CITY: REDMOND STATE: WA ZIP: 98073-9746 BUSINESS PHONE: 4258676922 MAIL ADDRESS: STREET 1: P O BOX 97046 STREET 2: 10525 WILLOWS RD NE CITY: REDMOND STATE: WA ZIP: 98073-9746 8-K 1 f8k092706.htm

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): September 26, 2006

 

                Data I/O Corporation

(Exact name of registrant as specified in its charter)

 

                Washington

(State of other jurisdiction of incorporation)

 

 

0-10394

91-0864123

(Commission File Number)

(IRS Employer Identification No.)

 

 

 

6464 185th Avenue N.E., Suite 101, Redmond, WA

98052-5032

(Address of principal executive offices)

(Zip Code)

 

 

Registrant’s telephone number, including area code: (425) 881-6444

 

10525 Willows Road N.E., Redmond, WA 98073-9746

 

(Former name or former address, if changed since last report)

 

Page 1 of 3 Pages

 

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

 

On September 26, 2006, First American Equipment Finance (Lessor) entered into a master lease agreement with Data I/O.

 

Data I/O’s initial Equipment Schedule financed under the master lease agreement has the following provisions: lease term of 5 years; purchase option for $1 on completion; 20 quarterly payments of $35,217 totaling $704,345; and Data I/O pays all taxes, insurance, maintenance, costs and expenses. This will be accounted for as a capital lease obligation. The financing was used to fund equipment, furniture and other items in connection with our move to a new facility in Redmond, Washington.

 

The master lease agreement provides for events of default such as: failure to pay rent; failure to observe covenants; bankruptcy, reorganization or insolvency; assignment, movement or transfer of the equipment; termination of existence or certain control changes; false representations; license breaches or terminations; or failure to maintain insurance. Should an event of default occur, and not be cured or waived, at the lessor’s determination it could result in a lease termination, obligation acceleration, damages or other remedies.

 

 

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 by the undersigned hereunto duly authorized.

 

 

 

 

DATA I/O CORPORATION


September 28, 2006

 

By: 


/s/Joel S. Hatlen

 

 

 

Joel S. Hatlen

Vice President

Chief Financial Officer

Secretary and Treasure

 

 

 

 

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