-----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, IEF886mOhcgWC/cyduOjCmVjozHFWJGf1PfIIHQhCme9VDv1z0T7fWXh0WsZdQFK cANjflWxJJN9ui2Nej7/Xw== 0000889087-97-000007.txt : 19970321 0000889087-97-000007.hdr.sgml : 19970321 ACCESSION NUMBER: 0000889087-97-000007 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19970312 ITEM INFORMATION: Other events FILED AS OF DATE: 19970320 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: RESPONSE USA INC CENTRAL INDEX KEY: 0000889087 STANDARD INDUSTRIAL CLASSIFICATION: COMMUNICATIONS EQUIPMENT, NEC [3669] IRS NUMBER: 223088639 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-20770 FILM NUMBER: 97559657 BUSINESS ADDRESS: STREET 1: 11-K PRINCESS ROAD CITY: LAWRENCEVILLE STATE: NJ ZIP: 08648 BUSINESS PHONE: 6098964500 8-K 1 PREFERRED STOCK LITIGATION 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) March 12, 1997 Response USA, INC. ------------------------------------------------ (Exact name of registrant as specified in charter) Delaware 0-20770 52-1441922 - ---------------------------- ------------ ------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 11-H Princess Road, Lawrenceville, NJ 08648 ------------------------------------------------------ (Address of principal executive offices) (Zip code) Registrant's telephone number, including area code (609) 896-4500 ------------------------ ------------------------------------------------------------ (Former Name or former address, if changed since last report) Item 5. Other Events. - ------- As disclosed pursuant to its current report on Form 8-K filed on October 24, 1996, Response USA, Inc. (the "Company"), effective September 30, 1996, suspended conversion of its 1996 Series A Convertible Preferred Stock ("Preferred Stock"). On January 2, 1997, Lake Management LDC and KA Invetments LDC, each holders of the Preferred Stock, filed a Complaint in the Court of Chancery of the State of Delaware against the Company challenging among other things, the Company's decision to suspend conversion and seeking, among other things, specific performance under a Certificate of Designation to convert their Preferred Stock to Common Stock of the Company. The case is captioned Lake Management LDC and KA Investments LDC v. Response USA, Inc., Civil Action No. 15449. on February 10, 1997, the Company responded to the Complaint by filing an Answer, Defenses and Counterclaim. A Reply to the Counterclaim was filed on March 3, 1997. On February 18, 1997, Halifax Fund, L.P., holder of the Preferred Stock, filed a Complaint, a Motion for a Preliminary Injunction and a Motion for Expedited Proceedings in the Court of Chancery of the State of Delaware against the Company also challenging, among other things, the Company's decision to suspend conversion and seeking, among other things, specific performance under a Certificate of Designation to convert its Preferred Stock to Common Stock No. 15553. On march 5, 1997, the Court held a conference and denied plaintiff's request for a hearing on plaintiff's motion for a preliminary injunction. On March 11, 1997, plaintiff filed a second Motion for a Preliminary Injunction. The Court held a telephonic conference on March 12, 1997 and denied plaintiff's request for a hearing on its second preliminary injunction motion. Plaintiff has indicated that it intends to file a motion for summary judgment, and the Court has scheduled a hearing on that motion for May 13, 1997. The Company continues to believe that suspension of the conversion is warranted for various reasons, including without limitation, the unusual trading activity in the Company's Common Stock following the issuance of the Preferred Stock, coupled with the substantial conversions of the Preferred Stock at conversion prices linked to the market price of the Common Stock. The Company intends to take whatever action is required to protect the interests of the Company, its Stockholders generally and its Preferred Stockholders, which may include renegotiation of the terms and conditions of the Preferred Stock, and intends to vigorously defend its decision to suspend conversion of the Preferred Stock. SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the under- signed thereunto duly authorized. RESPONSE USA, INC. ------------------ (registrant) Dated: March 18, 1997 By:/s/RICHARD M. BROOKS -------------------- Richard M. Brooks President -----END PRIVACY-ENHANCED MESSAGE-----