-----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, FxbJ+XuJOoafpZ9ekGWDOKDLw/d2wwdtjrYfw/AyZkwD4ykWAieLFJXkouP0xz7h nek/vRqfET5Xk8oKDJKQ+A== 0001201800-04-000002.txt : 20040109 0001201800-04-000002.hdr.sgml : 20040109 20040109140625 ACCESSION NUMBER: 0001201800-04-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20040102 ITEM INFORMATION: Other events FILED AS OF DATE: 20040109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DIRECT INSITE CORP CENTRAL INDEX KEY: 0000879703 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 112895590 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-20660 FILM NUMBER: 04517447 BUSINESS ADDRESS: STREET 1: 80 ORVILLE DR CITY: BOHEMIA STATE: NY ZIP: 11716 BUSINESS PHONE: 5162441500 MAIL ADDRESS: STREET 1: 80 ORVILLE DRIVE CITY: BOHEMIA STATE: NY ZIP: 11716 FORMER COMPANY: FORMER CONFORMED NAME: COMPUTER CONCEPTS CORP /DE DATE OF NAME CHANGE: 19930328 8-K 1 diri8kjanuary2004.txt ===================================================================== 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): January 2, 2004 DIRECT INSITE CORP. (Exact Name of Registrant as specified in its charter) Delaware 0-20660 11-2895590 (State or other (Commission File (IRS Employer jurisdiction Number) Identification Number) of Incorporation) 80 Orville Drive, Bohemia, NY 11716 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (631) 244-1500 Item 5. Other Events Deferral of Dividends on Series A and Series B Preferred Stock - -------------------------------------------------------------- The Registrant and Metropolitan, the holder of the Registrant's outstanding Series A Convertible Preferred Stock (the "Series A Preferred Stock"), agreed to defer the dividends payable by the Registrant on the Series A Preferred Stock on September 25, 2004 until February 1, 2005, at which time the Registrant agreed to pay 107.5% of the amount otherwise payable in September 2004. The Registrant and the holders of its Series B Redeemable Preferred Stock (the "Series B Preferred Stock") agreed to defer the dividends payable by the Registrant on the Series B Preferred Stock quarterly commencing January 1, 2004 through November 1, 2004 until January 1, 2005, at which time the Registrant agreed to pay such Holders the deferred dividends plus interest thereon at the rate of 12% per annum. The Holders of the outstanding shares of Series B Preferred Stock are James A. Cannavino, the Registrant's Chief Executive Officer and a director, Tall Oaks, and Markus & Associates. 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. January 9, 2004 DIRECT INSITE CORP. By: /s/ James A. Cannavino ---------------------- James A. Cannavino Chief Executive Officer -----END PRIVACY-ENHANCED MESSAGE-----