8-K

 

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): October 15, 2009

Avatech Solutions, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

Delaware	001-31265	84-1035353
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
10715 Red Run Boulevard, Owings Mills, Maryland		21117
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: 410-581-8080

Not Applicable
______________________________________________
Former name or former address, if changed since last report

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:

[  ]  Written communications pursuant to Rule 425 under the 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 (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 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.

(c) Appointment of President

Effective October 15, 2009, the Board of Directors of Avatech Solutions, Inc. (the "Company") decided to separate the positions of Chief Executive Officer and President and then appointed Lawrence Rychlak, age 53, as the Company’s President. Mr. Rychlak will continue to serve as the Company’s Chief Financial Officer, a position he has held since May 2005. George Davis will continue to serve as the Company’s Chief Executive Officer. No changes in compensation or benefits are expected to result from these officer changes. Information regarding Mr. Rychlak’s business experience and compensation arrangement is provided in the sections of the Company’s definitive proxy statement filed on September 28, 2009 entitled "Executive Officers" and "Executive Compensation", which sections are incorporated herein by reference.

The Company issued a press release on October 15, 2009 announcing Mr. Rychlak’s appointment, a copy of whi ch is filed herewith as Exhibit 99.1

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The exhibits filed or furnished with this report are listed in the Exhibit Index that immediately follows the signatures hereto, which Exhibit Index is incorporated herein by reference.

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.

	Avatech Solutions, Inc.
October 16, 2009	By:	Lawrence Rychlak
		Name: Lawrence Rychlak
		Title: President and Chief Financial Officer

Exhibit Index

Exhibit No.	Description
99.1	Press release dated October 15, 2009 (filed herewith)

EX-99.1

Exhibit 99.1

Avatech Solutions Appoints New President

Baltimore, Md. – [October 15, 2009] – Avatech Solutions, Inc. (OTCBB: AVSO), the nationwide technology experts for design, engineering, and facilities management, today announced that Lawrence Rychlak has been promoted to President of Avatech Solutions effective immediately. Mr. Rychlak will retain the position of Chief Financial Officer and George Davis will remain as Chief Executive Officer of the Company.

Mr. Rychlak, 53, has been with Avatech Solutions since May 2005, and most recently held the titles Executive Vice President and Chief Financial Officer. Prior to joining Avatech Solutions, Mr. Rychlak was with Environmental Elements Corp., where he held the positions of interim President and Senior Vice President, as well as Chief Financial Officer. He is a certified public accountant and holds a B.A. and an M.B.A. from Loyola University in Baltimore.

“Since I became President and CEO almost two and a half years ago, Larry has been instrumental in streamlining the Company’s operations, improving its financial performance and solidifying the balance sheet,” stated Mr. Davis. “The stability that now pervades Avatech’s operations has given us the opportunity to have Larry take on the additional responsibility of leading the day-to-day operations as I concentrate more on new and existing strategic initiatives, which are targeted towards driving future growth and diversification.”

Mr. Rychlak stated, “I am excited about the opportunities ahead of Avatech Solutions, and will embrace the added responsibilities associated with leading the Company towards meeting its operating and financial objectives. It has been a great experience working with George and I am very thankful for his past support and the opportunity that he and the Board of Directors have afforded me. I look forward to continuing to work with George and the rest of the Avatech team while we work to take advantage of the improving market conditions as the economy begins its recovery.”

About Avatech Solutions
Avatech Solutions, Inc. (OTCBB: AVSO) is America’s leading professional services company for design and engineering technologies. Avatech advances the way organizations design, develop, and manage building, infrastructure, and manufacturing projects. Fortune 500 and Engineering News Record’s Top 100 companies work with Avatech to gain a competitive advantage through technology consulting, implementation, training, and support services. One of the world’s largest integrators of Autodesk software, Avatech designs systems that accelerate innovation while improving quality and profitability. For more information please visit www.avatech.com.

Forward-looking Statement
This press release contains forward-looking statements about the expectations, beliefs, plans, intentions, and strategies of Avatech Solutions, Inc. There are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Statements that are not historical in nature, including those that include the words “goal,” “expect,” “anticipate,” “estimate,” “should,” “believe,” “intend,” and similar expressions, are based on current expectations, estimates and projections about, among other things, the industry and the markets in which Avatech operates, and they are not guarantees of future performance. Whether actual results will conform to expectations and predictions is subject to known and unknown risks and uncertainties, including risks and uncertainties discussed in this report; general economic, market, or business conditions; changes in interest rates, and demand for our products and services; changes in our competitive position or competitive actions by other companies; the ability to manage growth; changes in laws or regulations or policies of federal and state regulators and agencies; and other circumstances beyond our control. Consequently, all of the forward-looking statements made in this document are qualified by these cautionary statements, and there can be no assurance that the actual results anticipated will be realized, or, if substantially realized, will have the expected consequences on our business or operations.

Company Contact	Investor Relations Contact
Jean Schaeffer	Todd Fromer / Garth Russell
Avatech Solutions, Inc.	KCSA Strategic Communications
Phone +1 (410) 581-8080 Fax +1 (410) 753-1591	Phone +1 (212) 896-1215 / 1250 tfromer@kcsa.com /
	grussell@kcsa.com