-----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, Nj0JRFLO7T8Pou2czO9opN2sXSOpvwZ99eUqQjEUOsLMPI7qOrD7jW0snxwCdnvM L8+IyfXBBWi7tsdm4cxdAA== 0001157523-04-002242.txt : 20040311 0001157523-04-002242.hdr.sgml : 20040311 20040310185440 ACCESSION NUMBER: 0001157523-04-002242 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040305 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040311 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DPAC TECHNOLOGIES CORP CENTRAL INDEX KEY: 0000784770 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 330033759 STATE OF INCORPORATION: CA FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-14843 FILM NUMBER: 04661374 BUSINESS ADDRESS: STREET 1: 7321 LINCOLN WAY CITY: GARDEN GROVE STATE: CA ZIP: 92641 BUSINESS PHONE: 7148980007 MAIL ADDRESS: STREET 1: 7321 LINCOLN WAY CITY: GARDEN GROVE STATE: CA ZIP: 92641 FORMER COMPANY: FORMER CONFORMED NAME: DENSE PAC MICROSYSTEMS INC DATE OF NAME CHANGE: 19920703 8-K/A 1 a4591706.txt DPAC TECH 8-K/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 8-KA 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 5, 2004 ------------------- DPAC TECHNOLOGIES CORP. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) California 0-14843 33-0033759 - ------------------------- -------------------- -------------------- (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 7321 Lincoln Way, Garden Grove, California 92841 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (714) 898-0007 -------------------- Not Applicable ------------------ (Former Name or former address, if changed, since last report) Item 7. Financial Statements, Pro Forma Financial Information and Exhibits (c) Exhibits. 99.1 News Release dated March 5, 2004 relating to the halt of the DuraStack(TM) product development. Item 12. Disclosure of Operations and Financial Condition. On March 5, 2004, we issued a press release that announced a halt to our DuraStack product development. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. Such information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not incorporated by reference into any of our filings with the Securities and Exchange Commission, whether made before or after the date hereof, regardless of any general incorporation language in such filing. 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. DPAC TECHNOLOGIES CORP. (Registrant) Date: March 10, 2004 By: /s/ William M. Stowell ------------------------------- William M. Stowell, Chief Financial Officer DPAC TECHNOLOGIES CORP. INDEX TO EXHIBITS EXHIBIT NO. DESCRIPTION - -------------- -------------- 99.1 News Release dated March 5, 2004 relating to halt of the DuraStack(TM) product development. EX-99 3 a4591706ex99.txt DPAC TECH EX99 Exhibit 99.1 DPAC Announces Halt to DuraStack Product Development GARDEN GROVE, Calif.--(BUSINESS WIRE)--March 5, 2004--DPAC Technologies Corp. (NASDAQ:DPAC) today announced its DuraStack(TM) product for stacking TSOP memory using a laser weld process will no longer actively be in development. "We have concluded that a key production tool contracted to be made by a production equipment vendor will not be produced cost-effectively and may not be sufficient to meet specifications, no matter the cost. In light of this change in circumstances, the cost and time potentially required of us to attain our yield and throughput targets, makes continuing development efforts presently uneconomical. We will now utilize greater company resources to help make our Airborne(TM) wireless product a major success," said Kim Early, DPAC's interim CEO. "Though this announcement is disappointing to us, we continue to be very encouraged by the market's reception of our Airborne and Airborne Direct wireless products, which now stand at the core of DPAC's plans for future growth and profitability," Mr. Early continued. DPAC planned the introduction of the DuraStack memory-stacking process as a means of addressing its customers' needs for a slimmer profile stack for TSOP memory applications. DuraStack was intended to expand the potential memory stacking market available to DPAC. As a result of these circumstances, DPAC expects to record a charge of approximately $1 million to its results for the FY 2004 fourth quarter related to a permanent reduction in the fair value of the DuraStack equipment. Also in relation to DuraStack, DPAC has filed a lawsuit against a production equipment vendor after the vendor gave notice that it could not perform its promise to deliver a laser weld stack cell that meets the contract specifications. The laser weld stack cell was to have been a key production tool for the DuraStack product line. DPAC cannot yet predict the ultimate outcome of the litigation, but intends to pursue it vigorously. About DPAC Technologies Located in Garden Grove, California, DPAC Technologies provides a diverse portfolio of patented electronic-component-based products including component packaging technology for high-density, space-saving memory and wireless applications, and solutions for digital image enhancement. DPAC's products are used in electronic circuits found in network servers, computer storage devices, medical instrumentation, communication devices, refrigeration controls, automotive diagnostic equipment and other advanced equipment. The Company also provides value-added manufacturing of prototype designs and medium volume production runs of assembled circuit boards. The Company's web site address is http://www.dpactech.com Forward-Looking Statements This press release includes forward-looking statements, including statements regarding technology development, expansion and business plans that are subject to change, uncertainties and risks. Every statement herein that is not historic in nature is a forward-looking statement for purposes of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, and therefore results may differ materially from those set forth in these statements. Factors that affect DPAC's business include; but are not limited to, the success of patented products, future business opportunities with products, the wireless market, protection of technology or proprietary rights, risks of litigation, and general market and economic conditions. More information about the risks and challenges faced by DPAC Technologies Corp. is contained in the Securities and Exchange Commission filings made by the Company on Form 10-K, 10-Q and 8-K. DPAC Technologies Corp. specifically disclaims any obligation to update or revise any forward-looking statements whether as a result of new information, future developments or otherwise. CONTACT: DPAC Technologies Corp., Garden Grove William M. Stowell, 714-898-0007 William.Stowell@dpactech.com www.dpactech.com or Kim Early, 714-898-0007 Kim.Early@dpactech.com www.dpactech.com -----END PRIVACY-ENHANCED MESSAGE-----