-----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, LBMcMkihaVvdWpoV4qMNh0XFGVcena+PsZ4fZtsoJiCnAOLmvEiS1uJcld7T/VUo JbjeLUC/nzs6NWrkPrYRUw== 0000950115-99-001651.txt : 19991223 0000950115-99-001651.hdr.sgml : 19991223 ACCESSION NUMBER: 0000950115-99-001651 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19991215 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19991222 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NOCOPI TECHNOLOGIES INC/MD/ CENTRAL INDEX KEY: 0000888981 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-SERVICES, NEC [8900] IRS NUMBER: 870406496 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-20333 FILM NUMBER: 99778882 BUSINESS ADDRESS: STREET 1: 537 APPLE ST CITY: WEST CONSHOHOCKEN STATE: PA ZIP: 19428-2903 BUSINESS PHONE: 6108349600 MAIL ADDRESS: STREET 1: 537 APPLE ST CITY: WEST CONSHOHOCKEN STATE: PA ZIP: 19428-2903 8-K 1 CURRENT REPORT 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): December 15, 1999 NOCOPI TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) MARYLAND 0-20333 87-0406496 -------- ------- ---------- (State or other jurisdiction of (Commission (IRS Employer incorporation or organization) File Number) Identification No.) 537 Apple Street, W. Conshohocken, Pennsylvania 19428-2903 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: 610-834-9600 ------------------------------------------------------------ (Former name or former address, if changed since last report) Item 1. Changes in Control of Registrant During October 1999, a committee of Registrant's stockholders known as the Nocopi Committee To Maximize Our Return on Equity ("NoMore") and consisting of Michael Feinstein, Joseph Falcone, Daniel Benasutti and Ross Campbell determined to nominate a slate of directors for election at Registrant's 1999 Annual Meeting of Stockholders (the "Meeting") in opposition to the candidates nominated by Registrant's then existing board of directors. NoMore nominated five persons, Michael Feinstein, Richard Levitt, Waldemar Maya, Jr., Steven Pinsk and Joel Pinsky (collectively, the "NoMore Nominees") for election to fill five of the six directorships to be filled at the Meeting. Other individuals were nominated by Registrant's then existing board. The meeting was held on December 15, 1999. Based on the preliminary results of the election, the NoMore Nominees and Arshavir Gundjian, one of the nominees of management, were elected as directors of Registrant to serve until Registrant's 2000 Annual Meeting of Stockholders. To the extent that the NoMore Nominees may vote as a group on matters submitted for voting by Registrant's board of directors, they may be deemed to exercise control of Registrant. To that extent, a change in control of Registrant may be deemed to have occurred on December 15, 1999 by reason of the NoMore Nominees' election as directors of Registrant. Based on a report on Form 8-K filed by Registrant on or about June 22, 1998, certain persons including Jack Halperin and Susan Cox, both directors of Registrant until December 15, 1999, may have been deemed to be in control of Registrant until December 15, 1999. To the extent that the NoMore Nominees may be deemed to be in control of Registrant, such control was assumed from Mr. Halperin and Ms. Cox and any other persons who may have participated with them in exercising control of Registrant. No consideration was paid by the NoMore Nominees in connection with the transactions described above. According to information furnished to Registrant by each of the NoMore Nominees, such persons currently beneficially own 1,116,300 shares of common stock of Registrant constituting 3.1% of all outstanding common stock of Registrant. NoMore has advised Registrant that it does not intend to continue in existence as an organized committee of stockholders and, accordingly, does not expect or intend to influence how the NoMore Nominees may vote in any matter. 2 There are no arrangements known to Registrant the operation of which at a subsequent date may result in a further change in control of Registrant. Item 7. Financial Statements and Exhibits Exhibit 22 Press Release dated December 21, 1999 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. Nocopi Technologies, Inc. (Registrant) By: /s/ Rudolph A. Lutterschmidt ---------------------------------------- Rudolph A. Lutterschmidt, Vice President & Chief Financial Officer Dated: December 22, 1999 3 EX-22 2 PRESS RELEASE Exhibit 22 Contact: Rudolph A. Lutterschmidt (610) 834-9600 FOR IMMEDIATE RELEASE - -------------------------------------------------------------------------------- STOCKHOLDERS OF NOCOPI TECHNOLOGIES, INC. ELECT NEW BOARD OF DIRECTORS NEW BOARD ELECTS MICHAEL FEINSTEIN AS CHAIRMAN West Conshohocken, Pa. December 21, 1999/PRNewswire. Nocopi Technologies, Inc. (OTC Bulletin Board: "NNUP") today announced that its stockholders elected a new board of directors at the Company's Annual Meeting on December 15, 1999. Based on preliminary results of the voting announced at the Annual Meeting, the stockholders elected Michael Feinstein, Arshavir Gundjian, Richard Levitt, Waldemar Maya, Jr., Steven Pinsk and Joel Pinsky to serve as directors until the next annual meeting of the Company's stockholders. The final tabulation of the election results are expected to be available within one week to ten days. Of the directors elected, all except for Mr. Gundjian were nominated by the Nocopi Committee To Maximize Our Return on Equity (NoMore), a stockholders committee formed by Michael Feinstein and others to replace the Company's former board of directors whose leadership of the Company was perceived to be ineffective. At a meeting of the Board of Directors held immediately after the stockholders meeting, the new Board of Directors elected Michael Feinstein to serve as the Company's Chairman. Mr. Feinstein said, "The election results confirm NoMore's belief that the Company's stockholders wanted fundamental change in the way the Company is managed. The Company's new board of directors is committed to improving the Company's results and enhancing stockholder value. It will act quickly to assess the Company's strengths and weaknesses and to determine a new direction for the Company. In the near term, it will cut operating costs wherever possible in order to preserve the Company's resources during the necessary period of assessment." Nocopi Technologies, Inc. was founded in 1984 and is based in West Conshohocken, Pennsylvania. The Company is engaged in the business of developing solutions against counterfeiting, product diversion, document security and authentication via patented technologies including invisible ink and reactive thread. 4 FORWARD-LOOKING INFORMATION The foregoing contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Such forward-looking statements involve certain risks and uncertainties. Actual results may differ materially from such forward-looking statements (a summary of which may be found in the Company's Annual Report on Form 10-KSB for the year ended December 31, 1998 under the caption "Risk Factors"). The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized. 5 -----END PRIVACY-ENHANCED MESSAGE-----