-----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, RfoM2Vq5EOaHI/2f/ShNIDAurLVNtnpSZihpH7yZ0u7R/CaaRFtSoL/lJ8HF0lPp P2wD6G8EkyF6wHC5hLjtUA== 0001144204-06-052527.txt : 20061214 0001144204-06-052527.hdr.sgml : 20061214 20061214091124 ACCESSION NUMBER: 0001144204-06-052527 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20061212 ITEM INFORMATION: Other Events FILED AS OF DATE: 20061214 DATE AS OF CHANGE: 20061214 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GLOWPOINT INC CENTRAL INDEX KEY: 0000746210 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 770312442 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-25940 FILM NUMBER: 061275707 BUSINESS ADDRESS: STREET 1: 225 LONG AVENUE CITY: HILLSIDE STATE: NJ ZIP: 07205 BUSINESS PHONE: 8054828277 MAIL ADDRESS: STREET 1: 225 LONG AVENUE CITY: HILLSIDE STATE: NJ ZIP: 07205 FORMER COMPANY: FORMER CONFORMED NAME: WIRE ONE TECHNOLOGIES INC DATE OF NAME CHANGE: 20000606 FORMER COMPANY: FORMER CONFORMED NAME: VIEW TECH INC DATE OF NAME CHANGE: 19950418 FORMER COMPANY: FORMER CONFORMED NAME: VIEWTECH INC DATE OF NAME CHANGE: 19950418 8-K 1 v060317_8k.htm Unassociated Document
 
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) December 12, 2006

Glowpoint, Inc.
(Exact name of registrant as specified in its Charter)
 
     
Delaware
0-25940
77-0312442
(State or other jurisdiction
(Commission
(I.R.S Employer
of incorporation)
File Number)
Identification No.)
 
225 Long Avenue Hillside, NJ
07205
(Address of principal executive offices)
(Zip Code)

Registrant's telephone number, including area code (312) 235-3888
 
                                            Not Applicable                                          
(Former name or former address, if changed since last report)


ITEM 8.01. OTHER EVENTS.

On October 26, 2006, Glowpoint, Inc. (“Glowpoint” or the “Company”) announced a potential tax owed by All Communications Corp. (“AllComm”) to New York State Department of Taxation and Finance (the “AllComm Tax Liability”).  The total amount of the AllComm Tax Liability as of that date was approximately $1.25 million. Since then, the Company reviewed historical files, contacted AllComm vendors and customers, and addressed the issues raised by New York State’s audit. Company representatives then met with New York State officials and presented the supporting documentation in an attempt to have this matter resolved on the merits of the case.

On or about December 12, 2006, New York State and the Company agreed that the appropriate amount owed to settle the AllComm Tax Liability was approximately $0.27 million, which consists of an assessed sales and use tax liability of approximately $0.09 million for the period January 1, 1998 through May 18, 2000 (at which time AllComm was merged into ViewTech, Inc.), approximately $0.15 million for interest due thereon, and approximately $0.03 million in penalties, inclusive of all credits. Upon receipt of the final payment, the Company expects New York State will discharge the tax lien, which was recorded by New York State with the Clerk of Albany County, New York in August 2003.

The AllComm tax liability will increase the previously reported selling, general and administration (“SG&A”) expense and increase previously reported operating losses and net losses for the indicated fiscal and quarterly periods. Other than corrections to classifications resulting from the restatement, previously reported cash flows are not expected to be impacted. In addition, the Company's cash position reported in the prior periods is not expected to be impacted.

With the resolution of the Allcomm Tax Liability, the Company has restarted the restatement process for the year ended December 31, 2004 and restated interim financial statements for the quarters ended March 31, 2005, June 30, 2005, and September 30, 2005 and expects to begin issuing financial statements no later than early January 2007.

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.
 
     
  GLOWPOINT, INC.
   
  By:   /s/ Michael Brandofino
 
Michael Brandofino
 
Chief Executive Officer
and President
Date: December 14, 2006
 
 -----END PRIVACY-ENHANCED MESSAGE-----