-----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, SOjjEhQAttIl6ASUdBOgu4/cINOeVM9HERr86XZi6HusWUIKHyrYmrwAMG1yzEjd Heb7kW218e3ZG8a0Cj1j4Q== 0001104659-03-006463.txt : 20030415 0001104659-03-006463.hdr.sgml : 20030415 20030415101915 ACCESSION NUMBER: 0001104659-03-006463 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030415 ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030415 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALLIED DEVICES CORP CENTRAL INDEX KEY: 0000869495 STANDARD INDUSTRIAL CLASSIFICATION: BOLTS, NUTS, SCREWS, RIVETS & WASHERS [3452] IRS NUMBER: 133087510 STATE OF INCORPORATION: NV FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-24012 FILM NUMBER: 03649597 BUSINESS ADDRESS: STREET 1: 2365 MILBURN AVENUE CITY: BALDWIN STATE: NY ZIP: 11510 BUSINESS PHONE: 5162239100 FORMER COMPANY: FORMER CONFORMED NAME: ILLUSTRIOUS MERGERS INC DATE OF NAME CHANGE: 19600201 8-K 1 j9497_8k.htm 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): April 15, 2003

 

ALLIED DEVICES CORPORATION
(Exact name of Registrant as specified in its charter)

 

Nevada

 

0-24012

 

13-3087510

(State or other jurisdiction of incorporation or organization)

 

(Commission File Number)

 

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

 

325 Duffy Avenue
Hicksville, NY  11801
(Address of principal executive offices)(zip code)

 

(516) 935-1300
(Registrant’s telephone number, including area code)

 

 

 

 

 

Item 7.            Financial Statements and Exhibits

 

(c)                     Exhibits.

 

99.1                           Press Release dated April 15, 2003.

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the
Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

ALLIED DEVICES CORPORATION
(Registrant)

 

 

 

Date: April 15, 2003

By:

/s/ Paul M. Cervino

 

Paul M. Cervino

 

President & Chief Operating Officer

 

 

 

 

INDEX TO EXHIBITS

 

Exhibit
Number

 

Description

99.1

 

Press Release dated April 15, 2003.

 

 

2

 EX-99.1 3 j9497_ex99d1.htm EX-99.1

Exhibit 99.1

 

PRESS RELEASE

FOR IMMEDIATE RELEASE

 

CONTACT:

 

Investor Relations, Allied Devices Corp.

 

e-mail: info@allieddevices.com

 

 

Paul M. Cervino  516-935-1300x238

 

Internet site: www.allieddevices.com

 

ALLIED DEVICES TO HALT OPERATIONS

 

Hicksville, NY, (April 15, 2003)... Allied Devices Corporation (ALDVQ.PK) (the “Company”) filed for protection from creditors under Chapter 11 of the Bankruptcy Code on February 19, 2003.

 

The Court approved a consent stipulation between the Company and its secured lenders which permitted the Company to operate while it sought a sale of the Company, as a going concern, in part or in whole.  Although the Company received many inquiries, no one has emerged as a buyer for the Company as a going concern.

 

As a result, the Company will cease operations, complete an orderly wind down, and liquidate its assets.  An auction sale of assets, which are subject to the liens of secured creditors, is to be held in the Bankruptcy Court at noon on April 28, 2003.  All proceeds from this auction sale will be distributed to the creditors secured by such assets.  Since the estimated auction value of the assets to be sold is insufficient to satisfy the secured creditors’ claims, neither unsecured creditors nor common stockholders of the Company will receive any of the proceeds.

 

On March 20, 2003, BDO Seidman, LLP declined to continue as auditors of the Company.  Since the Company is winding down, no new auditors will be engaged.

 

 

 

All statements contained herein that are not historical facts, including but not limited to statements regarding the Company’s current business strategy and the Company’s plans for future development, operations and capital raising, are based upon current expectations.  For factors, which could affect the realization of those expectations, see the Company’s current annual report on Form 10-K.

 

 

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