-----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, Wx2+2CvjaLMAWEo1h4rauPEmphO+WiSW2cYDhgbTGywVfmeG+5H3Omq3LD7RK4u3 fb+BsvcGECjQdh64h6NyZA== /in/edgar/work/0000944209-00-001632/0000944209-00-001632.txt : 20001025 0000944209-00-001632.hdr.sgml : 20001025 ACCESSION NUMBER: 0000944209-00-001632 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20001020 ITEM INFORMATION: ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20001024 FILER: COMPANY DATA: COMPANY CONFORMED NAME: E4L INC CENTRAL INDEX KEY: 0000070412 STANDARD INDUSTRIAL CLASSIFICATION: [5961 ] IRS NUMBER: 132658741 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-06715 FILM NUMBER: 744765 BUSINESS ADDRESS: STREET 1: 15821 VENTURA BOULEVARD STREET 2: 5TH FLOOR CITY: LOS ANGELES STATE: CA ZIP: 91436 BUSINESS PHONE: 8184616400 MAIL ADDRESS: STREET 1: 15821 VENTURA BOULEVARD STREET 2: 5TH FLOOR CITY: LOS ANGELES STATE: CA ZIP: 91436 FORMER COMPANY: FORMER CONFORMED NAME: NATIONAL MEDIA CORP DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: NATIONAL PARAGON CORP DATE OF NAME CHANGE: 19870827 8-K 1 0001.txt FORM 8-K 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) October 20, 2000 ----------------- e4L, Inc. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in charter) Delaware I-6715 13-2658741 - ------------------------ ------------------------------ --------------- (State or Other Juris- (Commission File Number) (IRS Employer Identi- diction of Incorporation) fication No.) 15821 Ventura Boulevard, 5th Floor, Los Angeles, CA 91436 - --------------------------------------------------- ------------ (Address of principle executive offices) (Zip Code) Registrant's telephone number, including area code 818-461-6400 --------------- - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report.) ____________________________________ Item 3. Bankruptcy or Receivership. On October 20, 2000, e4L, Inc.'s ("e4L") wholly-owned United States subsidiary, Quantum North America, Inc. (d/b/a, e4L North America) ("QNA") filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Central District of California. QNA's Chapter 11 bankruptcy is proceeding as Case No. SV00-19482-GM. e4L issued a press release on October 20, 2000 announcing the filing of the voluntary petition for relief under Chapter 11. This press release is attached hereto as Exhibit 99.1 and is incorporated herein in its entirety by reference. Under Chapter 11, QNA will attempt to seek debtor-in-possession financing from its senior lender, Foothill Capital Corporation ("Foothill"), in order to fund the Chapter 11 reorganization proceedings. On October 20, 2000, e4L's wholly-owned United Kingdom subsidiary, Quantum International Limited ("QIL") filed a petition in the High Court of Justice, Chancery Division Companies Court in the United Kingdom (the "Court") seeking a grant of an administrative order. The filing will take approximately two to three weeks before approval by the Court is granted. During the pendancy of the filing and approval process, QIL will continue to pursue various strategic alternatives, including the possible sale of its business. Upon filing of the administrative proceedings with the Court, QIL will operate under administration, whereby an administrator will be retained by QIL for the purpose of either reorganizing or liquidating QIL's business for the benefit of creditors similar to a Chapter 11 proceeding in the United States. Item 5. Other Events. As previously reported, on October 5, 2000, QNA received a demand for payment pursuant to the Loan Agreement whereby Foothill demanded immediate payment of principal and interest due thereunder of approximately $11.7 million. On October 9, 2000, Foothill demanded payment of the approximately $11.7 million outstanding from e4L pursuant to a General Continuing Guaranty entered into by e4L and Foothill in connection with the Loan Agreement. e4L is currently contemplating Chapter 11 filings for two other wholly- owned United States subsidiaries: Positive Response Television, Inc. and DirectAmerica Corporation (d/b/a, Quantum Television). Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits 99.1 Press Release dated October 20, 2000. 2 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. e4L, Inc. (Registrant) Date: October 23, 2000 By: /s/ Daniel M. Yukelson ------------------------------ Name: Daniel M. Yukelson Title: Executive Vice President/Finance and Chief Financial Officer 3 EX-99.1 2 0002.txt PRESS RELEASE DATED 10/20/2000 EXHIBIT 99.1 PRESS RELEASE DATED OCTOBER 20, 2000 FOR IMMEDIATE RELEASE - --------------------- QUANTUM NORTH AMERICA, INC. FILES CHAPTER 11, AND UNITED KINGDOM SUBSIDIARY SEEKS ADMINISTRATION LOS ANGELES, California - October 20, 2000 - e4L, Inc. (NYSE: "ETV") today announced that its wholly-owned United States Subsidiary, Quantum North America, Inc. (d/b/a, e4L North America) ("QNA") filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Central District of California. e4L further announced today that its wholly-owned United Kingdom subsidiary, Quantum International Limited ("QIL") filed a petition in the High Court of Justice, Chancery Division Companies Court in the United Kingdom (the "Court") seeking a grant of an administrative order. Upon filing of the administrative proceedings with the Court, QIL will operate under administration, whereby an administrator will be retained by QIL for the purpose of either reorganizing or liquidating QIL's business for the benefit of creditors. e4L further announced that it will attempt to seek debtor-in-possession financing from its senior lender, Foothill Capital Corporation, in order to fund QNA's Chapter 11 reorganization proceedings. In addition, e4L and QNA anticipate that they will agree to the appointment of John Grigsby and Associates, Inc., a financial advisory and turnaround firm. As previously announced on October 11, 2000, e4L had retained Direct Marketing Services Group, LLC to provide, among other things, daily operational and financial management services for e4L's United States direct response business. The Chapter 11 filing of QNA and administrative proceeding of QIL are not expected to impact e4L's businesses in the Pacific Rim and Asia. This press release contains forward-looking statements regarding potential future events and developments affecting e4L's business. e4L wishes to take advantage of certain ``safe harbor'' provisions regarding forward-looking statements. Examples of forward-looking statements include, but are not limited to, (i.) projections of revenues, income or loss, profitability, earnings or loss per share and other financial indicators, (ii.) statements of plans or objectives of management or Board of Directors, including the potential sale of its Austral-Asian businesses and (iii.) other statements about the direct response or electronic commerce industries. e4L's ability to predict projected results or the effect of certain events on e4L's results of operations is inherently uncertain. Therefore e4L wishes to caution each reader of this press release to carefully consider certain factors, including competition for customers, media pricing and access, market conditions regarding buyers and sellers of media, the potential effect of litigation involving e4L, the risks of doing business, issues related to entering new markets and the electronic commerce industry, the inherent difficulty in identifying successful products, locating efficient suppliers of such products and bringing such products to market in a timely fashion and other factors, each of which could affect the ability of e4L to achieve its projected results and may cause actual results to differ materially from those expressed herein. For a description of additional risks and uncertainties, please refer to e4L's filings with the Securities and Exchange Commission, including e4L's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Contact: ------- Bruce D. Goodman, Executive Vice President Telephone: (818) 461-6510 Facsimile: (818) 461-6460 e-mail: bruce.goodman@e4L.com -----END PRIVACY-ENHANCED MESSAGE-----