-----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, G7V4tT9VkZ2R7eayl/wkSGtNiGC12tPk3lzAGTSGNgh+ePuQjQDQTyWqGHJjWKnY 2R6aC5Env6ajxwsYgdxQ/A== 0000950133-98-002389.txt : 19980625 0000950133-98-002389.hdr.sgml : 19980625 ACCESSION NUMBER: 0000950133-98-002389 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980618 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980624 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: ITC LEARNING CORP CENTRAL INDEX KEY: 0000764867 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MOTION PICTURE & VIDEO TAPE PRODUCTION [7812] IRS NUMBER: 521078263 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-13741 FILM NUMBER: 98653361 BUSINESS ADDRESS: STREET 1: 13515 DULLES TECHNOLOGY DR CITY: HERNDON STATE: VA ZIP: 22071 BUSINESS PHONE: 7037133335 MAIL ADDRESS: STREET 1: 13515 DULLES TECHNOLOGY DRIVE CITY: HERNDON STATE: VA ZIP: 22071 FORMER COMPANY: FORMER CONFORMED NAME: INDUSTRIAL TRAINING CORP DATE OF NAME CHANGE: 19920703 8-K 1 FORM 8-K DATED JUNE 18, 1998 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 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): June 18, 1998 ITC LEARNING CORPORATION (Exact name of registrant as specified in its charter) MARYLAND 0-13741 52-1078263 (State or other jurisdiction (Commission File Number) (I.R.S. Employer of incorporation) Identification Number)
13515 DULLES TECHNOLOGY DRIVE HERNDON, VIRGINIA 20171-3413 (Address of principal executive offices) Registrant's telephone number, including area code: (703) 713-3335 NONE (Former name and address, if changed since last report) 2 ITEM 5. OTHER EVENTS On June 18, 1998, ITC Learning Corporation (the "Registrant" or "ITC") entered into an agreement by which ITC purchased certain assets of iNEX Corporation ("iNEX") for cash and stock valued at $466,000. iNEX is an online training company that enables organizations to improve employee performance via the Internet and corporate intranets through interactive software and systems. In exchange for its investment, ITC acquired iNEX's technology-based delivery platforms, intellectual property rights, content, certain other assets and ten employees, consisting of management, technical and development personnel. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS a) Exhibits 99.1 Press Release of the Registrant dated June 23, 1998. 2 3 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. ITC Learning Corporation (Registrant) By:/s/Christopher E. Mack --------------------------------- Christopher E. Mack Vice President, Treasurer and Chief Financial Officer Date: June 24, 1998 3 4 INDEX OF EXHIBITS Exhibit No. Exhibit Description 99.1 Press Release of the Registrant dated June 23, 1998. 4 EX-99.1 2 PRESS RELEASE DATED JUNE 23, 1998 1 ITC [ITC LOGO] Learning Press Corporation Release 13515 Dulles Technology Drive Herndon, VA 20171-3413 (703) 713-3335 - (800) 638-3757 http://www.itclearning.com NASDAQ: ITCC June 23, 1998 Contact: Carl Stevens, President & CEO Chris Mack, CFO (800) 638-3757 (703) 713-3335 ITC LEARNING ANNOUNCES ACQUISITION OF ON-LINE TRAINING BUSINESS Herndon, VA - ITC Learning Corporation ("ITC") announced today that it has acquired iNEX Corporation's ("iNEX") on-line training business. ITC acquired iNEX's technology-based delivery platforms, intellectual property rights, content, certain other assets and ten employees, consisting of management, technical and development personnel, for cash and stock valued at approximately $500,000. ITC President and Chief Executive Officer Carl D. Stevens stated that "Our corporate goal is to deliver our extensive training library of CD-ROM titles over the Internet and corporate intranets. This acquisition gets ITC one step closer to realizing our goal. ITC now has a dedicated division, with the knowledge and tools to enable the transfer of our titles to a new and exciting delivery platform. Our plan is to retain the same rich graphics, animations, and video that our customers have come to expect from ITC, through the use of video streaming, via a Java (TM) enabled browser and without 'plug-ins.' We believe learners will benefit immensely from this new on-line, on-demand training experience." ITC develops and markets workplace training products for business, education and government and is headquartered in Herndon, Virginia with offices in Atlanta, Georgia, Grand Rapids, Michigan, Toronto, Canada, London, England, and Sydney, Australia. With over 5,000 organizations worldwide using ITC's products and solutions to improve employee productivity and skills, ITC is recognized for its excellence in quality and customer support. ITC offers the largest library of interactive CD-ROM multimedia programs available today, with over 1,500 hours of training on Personal Computer Skills, Regulatory Compliance, Technical Skills and Basic Skills. ITC is a publicly owned company that is traded on NASDAQ under the symbol--ITCC. In addition to the risks and uncertainties that exist with ITC and iNEX's on-line training business operations, the acquisition includes such risks that the integration of operations, technologies and products might not occur as planned or as anticipated. For a more detailed description of the risk factors facing the Company, please refer to the Company's SEC filings, including its annual report on Form 10KSB for fiscal year ended December 31, 1997. Java and all Java-based trademarks and logos are trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and other countries. ### -----END PRIVACY-ENHANCED MESSAGE-----