-----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, R0wbHs6IHbGmq9aTws9W9jecZDR5Fi/HMc0ow3l2sjXwDf34eUN2Hi6gXrI/42Ll Yk8KBddPx0NayRCLLTZbqQ== 0000891092-03-002709.txt : 20031006 0000891092-03-002709.hdr.sgml : 20031006 20031006164845 ACCESSION NUMBER: 0000891092-03-002709 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030930 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20031006 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PPT VISION INC CENTRAL INDEX KEY: 0000704460 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823] IRS NUMBER: 411413345 STATE OF INCORPORATION: MN FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-11518 FILM NUMBER: 03930016 BUSINESS ADDRESS: STREET 1: 12988 VALLEY VIEW ROAD CITY: EDEN PRAIRIE STATE: MN ZIP: 55344 BUSINESS PHONE: 6129425747 MAIL ADDRESS: STREET 1: 10321 W 70TH ST CITY: EDEN PRAIRIE STATE: MN ZIP: 55344 FORMER COMPANY: FORMER CONFORMED NAME: PATTERN PROCESSING TECHNOLOGIES INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PATTERN PROCESSING CORP DATE OF NAME CHANGE: 19840318 8-K 1 e15843_8k.txt FORM 8-K UNITED STATES 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 30, 2003 PPT VISION, INC. ---------------- (Exact name of Registrant as specified in its charter) Minnesota 0-11518 41-1413345 --------- ------- ---------- (State or other (Commission File Number) (I.R.S. Employer jurisdiction of Identification No.) incorporation) 12988 Valley View Road Eden Prairie, Minnesota 55344 - ----------------------- ----- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (952) 996-9500 Items 1-4, 6 and 8-12 are not applicable and therefore omitted. ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE On October 6, 2003, PPT Vision, Inc announced that holders of a total of 1,688,705 warrants exercised their warrants prior to the warrant expiration date of September 30, 2003, resulting in gross proceeds of $1,182,000 to the Company. As a result of the warrant exercise, PPT Vision had 11,757,000 shares outstanding at September 30, 2003. A copy the press release dated October 6, 2003, announcing results of the warrant exercise is attached as Exhibit 99.1 to this Form 8-K. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibits The following are filed as Exhibits to this Report: Exhibit No. Description of Exhibit - ----------- ---------------------- 99.1 Press release issued October 6, 2003, announcing warrant exercise results. 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, thereunto duly authorized. PPT VISION, INC. By /s/ Timothy C. Clayton ---------------------- Timothy C. Clayton Chief Financial Officer Dated: October 6, 2003 EX-99.1 3 e15843ex99_1.txt PRESS RELEASE Exhibit 99.1 PPT VISION, Inc. Announces Warrant Exercise Results 75% of Outstanding Warrants Exercised Resulting in Nearly $1.2 Million In Gross Proceeds MINNEAPOLIS, Oct. 6 /PRNewswire-FirstCall/ -- PPT VISION, Inc. (Nasdaq: PPTV), announced today that 75% of the outstanding warrants issued as part of the May 2002 Shareholder Rights Offering were exercised prior to the September 30, 2003 expiration date. Specifically, warrants to purchase 1,688,705 shares were exercised resulting in gross proceeds of $1,182,000. As previously indicated, PPT VISION will use the cash for working capital and general corporate purposes. "I am very pleased with the strong showing of support that our shareholders have provided to PPT VISION," stated Mr. Joseph C. Christenson, President of PPT VISION, Inc. "We believe that this sends a strong signal to our customers and our dedicated employees that our shareholders believe in our mission and in the Company's long term prospects." PPT VISION, Inc. develops and markets 2D and 3D machine vision-based automated inspection systems for manufacturing applications. Machine vision-based systems enable manufacturers to realize significant economic paybacks by increasing the quality of manufactured parts and improving the productivity of manufacturing processes. The Company's 2D and 3D machine vision product lines are sold on a global basis to original equipment manufacturers (OEMs), system integrators, machine builders, and end-users, primarily in the electronic and semiconductor component, automotive, medical device, and packaged goods industries. The Company's SpeedScan 3D(TM) sensor product incorporates PPT VISION's patented high-speed Scanning Moire Interferometry(TM) technology. The Company's Common Stock trades on the Nasdaq Small Cap Market tier of The Nasdaq Stock Market under the symbol PPTV. For more information, please see the PPT VISION, Inc. web site at www.pptvision.com . Forward Looking Statements The discussion above contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's expectations, beliefs, intentions and strategies regarding the future. Forward-looking statements include, without limitation, statements regarding the extent and timing of future revenues and expenses and customer demand. All forward-looking statements included in this document are based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any such forward-looking statements. The Company's actual results are subject to risks and uncertainties and could differ materially from those discussed in the forward-looking statements. These statements are based upon the Company's expectations regarding a number of factors, including the Company's ability to obtain additional working capital if necessary to support its operations, the success of the Company's new IMPACT machine vision micro-system, changes in worldwide general economic conditions, cyclicality of capital spending by customers, the Company's ability to keep pace with technological developments and evolving industry standards, worldwide competition, and the Company's ability to protect its existing intellectual property from challenges from third parties. A detailed description of the factors that could cause future results to materially differ from the Company's recent results or those projected in the forward-looking statements are contained in the section entitled "Description of Business" under the caption "Important Factors Regarding Forward-Looking Statements" contained in its filing with the Securities and Exchange Commission on Form 10-KSB for the year ended October 31, 2002 and other reports filed with the Securities and Exchange Commission. SOURCE PPT VISION, Inc. -0- 10/06/2003 /CONTACT: Timothy C. Clayton, Chief Financial Officer of PPT VISION, Inc., +1-952-996-9500, ir@pptvision.com , or fax, +1-952-996-9501/ /Web site: http://www.pptvision.com / (PPTV) CO: PPT VISION, Inc. ST: Minnesota IN: CPR PEL SU: OFR -----END PRIVACY-ENHANCED MESSAGE-----