-----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, KJY7TxTl1sZQqRzmDcG5EUzd4EQqE7doP+oVaFpre/Qb+2RfSZCWahxRoSgbgapz 4lFD7GJ+PhbzZJSWDW+itw== 0001047469-98-036927.txt : 19981012 0001047469-98-036927.hdr.sgml : 19981012 ACCESSION NUMBER: 0001047469-98-036927 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19981009 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19981009 SROS: AMEX FILER: COMPANY DATA: COMPANY CONFORMED NAME: MEDIA LOGIC INC CENTRAL INDEX KEY: 0000815185 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374] IRS NUMBER: 042772354 STATE OF INCORPORATION: MA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-09605 FILM NUMBER: 98723792 BUSINESS ADDRESS: STREET 1: 310 SOUTH ST STREET 2: P O BOX 2258 CITY: PLAINVILLE STATE: MA ZIP: 02762 BUSINESS PHONE: 5086952006 MAIL ADDRESS: STREET 1: 310 SOUTH ST STREET 2: P O BOX 2258 CITY: PLAINVILLE STATE: MA ZIP: 02762 8-K 1 FORM 8-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 (Date of earliest event reported): October 9, 1998 Media Logic, Inc. (Exact name of registrant as specified in its charter) Delaware 1-9605 04-2772354 -------- ------ ---------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) 310 South Street ---------------- Plainville, MA 02194 -------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (508) 695-2006 ---------------- Exhibit Index on page 4. 1 Item 5. Other Events. The Company issued a press release on October 9, 1998 announcing: "Company institutes cost reduction program to reduce operating losses." A copy of the press release is attached and filed as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference as though fully set forth herein. Item 7. Exhibits. (c) Exhibits. 99.1 The Registrant's Press Release dated October 9, 1998. 2 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. MEDIA LOGIC, INC. ----------------- (Registrant) Date: October 9, 1998 /s/ Gregory Scorziello ----------------------- Gregory Scorziello President and Chief Executive Officer 3 EXHIBIT INDEX
Exhibit Sequential Number Description Page Number - ------ ----------- ----------- 99.1 The Registrant's Press Release 5 dated October 9, 1998
4 EX-99.1 2 EXHIBIT 99.1 EXHIBIT 99.1 Company institutes cost reduction program to reduce operating losses Plainville, Mass, Friday 9th October 1998, MediaLogic, Inc. (Amex TST) announced that it has instituted immediate measures to reduce costs and operating losses and improve cash flow. The Company has today implemented a layoff of nine employees, approximately 33% of its workforce. The layoffs will result in SG&A savings of approximately $400,000 annually and were made by the Company by starting a cost reduction program to enable it to focus on strategic revenue opportunities. Greg Scorziello, President and Chief Executive Officer said, "We are pursuing a number of key strategic sales opportunities which are essential to our future with a view to closing them in the current quarter." He added, "We have implemented a cost reduction program and have instituted a plan to concentrate on our core competencies of sales, marketing design and electronic assembly. We anticipate that mechanical component manufacturing will be sub-contracted out to a partner organization." MediaLogic continues to be confident that its Ionic Series Scalable Data Library System possesses the features to meet the changing needs of users of tape library products. MediaLogic wishes to take advantage of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 with respect to statements that may be deemed forward-looking statements under the Act. Such forward looking statements may include, but are not limited to, statements regarding development and sales of the Company's tape library product line. The Company cautions that numerous factors could cause actual results to differ materially from any forward-looking statements made by the Company. MediaLogic does not fully satisfy all of the American Stock Exchange guidelines for continued listing and there is no assurance that this listing will be continued. About MediaLogic. MediaLogic Inc, founded in 1982, is a developer and manufacturer of innovative storage solutions which automate and simplify the centralization and security of business data. Located in Plainville, Massachusetts, MediaLogic's headquarters can be reached at 508-695-2006, or http//www.medialogicinc.com. Company names and/or product names are acknowledged as being trademarks or registered trademarks of their respective holder. 5 -----END PRIVACY-ENHANCED MESSAGE-----