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Table of Contents

Table of Contents

Table of Contents

0000950144-01-507898.txt : 20011019 0000950144-01-507898.hdr.sgml : 20011019 ACCESSION NUMBER: 0000950144-01-507898 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20011017 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20011017 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ACTION PRODUCTS INTERNATIONAL INC CENTRAL INDEX KEY: 0000747435 STANDARD INDUSTRIAL CLASSIFICATION: GAMES, TOYS & CHILDREN'S VEHICLES (NO DOLLS & BICYCLES) [3944] IRS NUMBER: 592095427 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-13118 FILM NUMBER: 1761082 BUSINESS ADDRESS: STREET 1: 344 CYPRESS RD CITY: OCALA STATE: FL ZIP: 34472-3108 BUSINESS PHONE: 3526872202 MAIL ADDRESS: STREET 1: 344 CYPRESS ROAD CITY: OCALA STATE: FL ZIP: 34472-3108 FORMER COMPANY: FORMER CONFORMED NAME: ACTION PACKETS INC DATE OF NAME CHANGE: 19880818 8-K 1 g72193e8-k.htm ACTION PRODUCTS INTERNATIONAL, INC e8-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: October 17, 2001
(Date of earliest event reported)

ACTION PRODUCTS INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)


Florida	000-13118	59-2095427
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(IRS Employer Identification No.)

390 N. ORANGE AVENUE, SUITE 2185
ORLANDO, FLORIDA 32801
(Address of principal executive offices, zip code)

(407) 245-3636
(Registrant’s telephone number, including area code)

TABLE OF CONTENTS


Item 5. Other Events.
Item 7. Financial Statements and Exhibits
SIGNATURES
Press Release Dated October 17, 2001

Item 5. Other Events.

On October 17, 2001, Action Products International, Inc., a Florida corporation (the “Company”), announced that its Board of Directors has authorized a program for repurchases of up to $250,000 of the Company’s outstanding common stock. The repurchased stock will be held in treasury. The repurchases will be made as, in the opinion of management, market conditions warrant. The stock repurchase program will be effective immediately.

Repurchases may be made from time to time by the Company in the open market at prevailing prices, in either block purchases or in privately negotiated transactions, and in compliance with the guidelines of the Securities and Exchange Commission.

The press release issued by the Company in connection with the stock repurchase program is attached hereto as Exhibit 99.1.

Item 7. Financial Statements and Exhibits

(c) Exhibits


Exhibit No.		Item

99.1		Press Release of the Company announcing the stock repurchase program.

SIGNATURES

Pursuant to the requirement of the Securities Exchange Act of 1934, the Registrant has duly caused this amended report to be signed on its behalf by the undersigned hereunto duly authorized.

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EXHIBIT INDEX


Exhibit No.		Item






99.1		Press Release of the Registrant announcing the stock repurchase program.

-3- EX-99.1 3 g72193ex99-1.txt PRESS RELEASE DATED OCTOBER 17, 2001 EXHIBIT 99.1 NEWS RELEASE FOR: ACTION PRODUCTS INTERNATIONAL, INC. CONTACTS: Ronald Kaplan, CEO Robert Burrows, CFO (407) 481-8007 investor@apii.com ACTION PRODUCTS INTERNATIONAL BOARD AUTHORIZES STOCK REPURCHASE PROGRAM $250,000 Available to Enhance Shareholder Value ORLANDO, FL - October 17, 2001 - Edu-Toymaker Action Products International, Inc. (NASDAQ: APII) announced today that its Board of Directors has authorized the repurchase of up to $250,000 of the Company's outstanding common stock. The repurchases will be made from time to time in open market transactions in such amounts as determined at the discretion of the Company's management and will be funded out of the Company's working capital Ron Kaplan, the Company's Chairman and Chief Executive Officer said, "Our Board of Directors believes that the recent trading price of our common stock does not adequately reflect the company's value and, accordingly, offers an excellent opportunity to increase stockholder value through reduced share dilution stemming from a buyback. This stock repurchase program reflects our continued commitment to improving shareholder value." ABOUT ACTION PRODUCTS INTERNATIONAL, INC. Action Products International, Inc. is a toy manufacturer emphasizing educational children's brands, including Earth Lore(TM) I Dig Dinosaurs(R) and -4- I Dig Treasures(R), Space Voyagers(R) "The most authentic Space Toys on Earth", Climb@Tron(TM) window-climbing robots, Thomas & Friends(R) Creative Play arts and crafts kits, and Play and Store(TM) portable playsets. Its products are marketed and sold to toy stores, specialty retailers, Internet retailers, museums, zoos, theme parks, attractions, catalog companies, and education markets in the United States and worldwide. For more information on Action Products toys, email marketing@apii.com.or visit the company on the World Wide Web at: www.apii.com or www.spacevoyagers.com. # # # NOTE: Any statements that are not historical facts contained in this release are forward-looking statements. It is possible that the assumptions made by management for purposes of such statements may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements may involve risks and uncertainties, including but not limited to those relating to product demand, pricing, market acceptance, the effect of economic conditions, and intellectual property rights and the outcome of competitive products, risks in product development, the results of financing effort, the ability to complete transactions, and other discussed from time to time in the Company's Securities and Exchange Commission filings. The Company undertakes no obligation to update or revise any forward-looking statements for events or circumstances after the date on which such statement is made. -5-

ACTION PRODUCTS INTERNATIONAL, INC.

Date: October 17, 2001

/s/Robert L. Burrows

Robert L. Burrows
Chief Financial Officer