0001437749-14-005253.txt : 20140327 0001437749-14-005253.hdr.sgml : 20140327 20140327163734 ACCESSION NUMBER: 0001437749-14-005253 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20140326 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140327 DATE AS OF CHANGE: 20140327 FILER: COMPANY DATA: COMPANY CONFORMED NAME: QUALSTAR CORP CENTRAL INDEX KEY: 0000758938 STANDARD INDUSTRIAL CLASSIFICATION: MAGNETIC & OPTICAL RECORDING MEDIA [3695] IRS NUMBER: 953927330 STATE OF INCORPORATION: CA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35810 FILM NUMBER: 14722088 BUSINESS ADDRESS: STREET 1: 3990-B HERITAGE OAK COURT CITY: SIMI VALLEY STATE: CA ZIP: 93063 BUSINESS PHONE: 805-583-7744 MAIL ADDRESS: STREET 1: 3990-B HERITAGE OAK COURT CITY: SIMI VALLEY STATE: CA ZIP: 93063 8-K 1 qbak20140327_8k.htm FORM 8-K qbak20140327_8k.htm

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): March 26, 2014

______________________________________

 

QUALSTAR CORPORATION

(Exact Name of Registrant as Specified in its Charter)

______________________________________

 

California

(State or other Jurisdiction of

Incorporation or Organization)

000-30083

(Commission File Number)

95-3927330

(I.R.S. Employer Identification No.)

  

3990-B Heritage Oak Court

Simi Valley, CA 93063

 

(Address of principal executive offices) (Zip Code)

 

(805) 583-7744

(Registrant’s telephone number, including area code)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

     Written communication pursuant to Rule 425 under Securities Act (17 CFR 230.425)

     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act CFR 240.14d-2(b))

     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act CFR 240.17R

           240.13e-4(c))

  

 
 

 

 

Item 5.02 

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 

   

On March 26, 2014, Qualstar Corporation (“Qualstar” or the “Company”) issued a press release announcing the addition of Mr. Daniel K. Jan to Qualstar’s executive team. Mr. Jan will start on April 1, 2014 and shall assume the pivotal role of Executive Vice President, reporting directly to Steven N. Bronson, Qualstar’s Chief Executive Officer. Mr. Jan will be responsible for overseeing day to day operations, as well as the continued development of strategic partnerships and potential acquisitions.

 

Mr. Jan joins Qualstar from BDT Products, Inc., a subsidiary of Germany’s BDT Media Automation GmbH, the recognized world leader in OEM tape automation. Mr. Jan served as president at BDT, spearheading growth in BDT’s worldwide sales for its tape and storage business. With over 25 years of industry experience spanning semiconductor memory to hard disks, optical, and tape storage technologies, Mr. Jan has held leadership roles at startups in Silicon Valley, where he spent 12 years, and medium and large companies including IBM.

 

A copy of the Press Release is attached hereto as Exhibit 99.1.

 

 

Item 9.01 

Financial Statements and Exhibits. 

  

(d)      Exhibits.

 

Exhibit No.

Description

   

99.1

Press release issued by Qualstar Corporation on March 26, 2014.

 

 

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.

 

 

 

QUALSTAR CORPORATION

 

 

 

 

 

 

 

  

 

Dated: March 27, 2014          

By:

      /s/ Steven N. Bronson

 

 

 

 Name: Steven N. Bronson

 

 

 

 Title: Chief Executive Officer and President

 

 

 

 

 

EX-99 2 ex99-1.htm EXHIBIT 99.1 ex99-1.htm

Exhibit 99.1

 

 

 

 

FOR IMMEDIATE RELEASE

 

Qualstar Announces Appointment of Mr. Daniel K. Jan Executive Vice President.

 

Simi Valley, CA (USA) March 26, 2014 – Qualstar Corporation (NASDAQ: QBAK), a manufacturer of data security and archive storage solutions and high efficiency power supplies, is pleased to announce the addition of Mr. Daniel K. Jan to Qualstar’s executive team. Mr. Jan will assume the pivotal role of Executive Vice President, reporting directly to Steven N. Bronson, Qualstar’s Chief Executive Officer. Mr. Jan will be responsible for overseeing day to day operations, as well as the continued development of strategic partnerships and potential acquisitions.

 

Mr. Jan joins Qualstar from BDT Products, Inc., a subsidiary of Germany’s BDT Media Automation GmbH, the recognized world leader in OEM tape automation. Mr. Jan served as president at BDT, spearheading growth in BDT’s worldwide sales for its tape and storage business. With over 25 years of industry experience spanning semiconductor memory to hard disks, optical, and tape storage technologies, he’s held leadership roles at startups in Silicon Valley, where he spent 12 years, and medium and large companies including IBM.

 

The world will continue to experience an explosion of data growth - more so now with companies focusing on business intelligence, the Internet of Things, and bio-devices,” Mr. Jan said. “No longer is static storage enough. Businesses have the need to easily use data when needed - whether instantaneously, in 5 minutes from now or in 30 years. The applications for data flow, content management, and storage must be integrated into easy-to-use solutions. Qualstar’s new management team is building on the company’s solid storage foundation and committing itself to provide state-of-the art solutions for the any-where, anytime data needs of today’s businesses. I fully support Qualstar’s new direction and look forward to working with the team to deliver new innovative and complete solutions that address the users’ needs.”

 

Dan brings extensive experience, and adds the necessary leadership and depth that will help us drive our transformation. He further strengthens Qualstar’s executive team by contributing to the growth of Qualstar’s strategic business objectives that will continue to result in our ongoing success”, stated Mr. Steven N. Bronson, Qualstar’s Chief Executive Officer.

 

 
 

 

  

About Qualstar Corporation

Qualstar, founded in 1984, is a diversified electronics manufacturer specializing in data storage and power supplies. Qualstar is a leading provider of high efficiency and high density power supplies marketed under the N2PowerTM brand, and of data storage systems marketed under the QualstarTM brand. Our Qualstar data storage products are used to provide highly scalable and reliable solutions to store and retrieve very large quantities of electronic data. Qualstar’s products are known throughout the world for high quality and Simply ReliableTM designs that provide years of trouble-free service. Our N2Power power supply products  provide compact and efficient power conversion for a wide variety of industries and applications including, but not limited to telecom, networking, broadcast, industrial, lighting, gaming and test equipment. More information is available at www.qualstar.com  or  www.n2power.com  or by phone at 805-583-7744.

 

Connect with Qualstar on LinkedIn or Twitter.

 

FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements relating to expectations, plans or prospects for Qualstar Corporation that are based upon the current expectations and beliefs of Qualstar's management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Notwithstanding changes that may occur with respect to matters relating to any forward looking statements, Qualstar does not expect to, and disclaims any obligation to, publicly update any forward-looking statements whether as a result of new information, future events or otherwise. Qualstar, however, reserves the right to update such statements or any portion thereof at any time for any reason. In particular, the following factors, among others, could cause actual or future results to differ materially from those suggested by the forward-looking statements: Qualstar's ability to successfully execute on its strategic plan and meet its long-term financial goals; Qualstar's ability to successfully implement and recognize cost savings; Qualstar's ability to develop and commercialize new products; industry and customer adoption and acceptance of Qualstar's new products; Qualstar's ability to increase sales of its products; the rescheduling or cancellation of customer orders; unexpected shortages of critical components; unexpected product design or quality problems; adverse changes in market demand for Qualstar's products; increased global competition and pricing pressure on Qualstar's products; and the risks related to actions of activist shareholders, including the amount of related costs.

For further information on these and other and other cautionary statements, please refer to the risk factors discussed in Qualstar's filings with the U.S. Securities and Exchange Commission including, but not limited to, Qualstar's Annual Report on Form 10-K for the fiscal year ended June 30, 2013, the "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of such Form 10-K, and any subsequently filed reports. All documents also are available without charge through the SEC's website (www.sec.gov) or from Qualstar's website (www.qualstar.com).

 

 

CONTACT INFORMATION:

 

Steven N. Bronson, CEO

Direct: 805-416-7054

 

 

 

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