-----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, EmYW+6XEtJFUJGgQgU+mBMWntir3Js/GuU7H1Nla691HR1vfsZDObW3DiLIeVare s5MG5dyHJV36pwJWjWD2JA== 0001047469-97-001471.txt : 19971024 0001047469-97-001471.hdr.sgml : 19971024 ACCESSION NUMBER: 0001047469-97-001471 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19971014 ITEM INFORMATION: FILED AS OF DATE: 19971023 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: EDUCATIONAL INSIGHTS INC CENTRAL INDEX KEY: 0000919570 STANDARD INDUSTRIAL CLASSIFICATION: GAMES, TOYS & CHILDREN'S VEHICLES (NO DOLLS & BICYCLES) [3944] IRS NUMBER: 952392545 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-23606 FILM NUMBER: 97699612 BUSINESS ADDRESS: STREET 1: 19560 S RANCHO WAY CITY: DOMINGUEZ HILLS STATE: CA ZIP: 90220 BUSINESS PHONE: 3108841931 MAIL ADDRESS: STREET 1: 16941 KEEGAN AVENUE CITY: CARSON STATE: CA ZIP: 90746 8-K 1 FORM 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 Act of 1934 Date of Report: OCTOBER 14, 1997 Educational Insights, Inc. CALIFORNIA 0-23606 95-2392545 (State of (Commission (I.R.S.Employer incorporation) File Number) Identification No.) 16941 KEEGAN AVENUE, CARSON, CALIFORNIA 90746 (Address of principal executive offices) (Zip Code) (310) 884-2000 (Registrant's telephone number including area code) Item 5. OTHER EVENTS See the following press release, dated October 14, 1997 announcing a future change in the officers of the Company. This change will be effective some time over the next few months: FOR IMMEDIATE RELEASE Contact: Heidi Wilson Educational Insights, Inc. (310) 884-2236 Carson, CA, October 14, 1997--Educational Insights (NASDAQ: EDIN) announced today that the company was postponing the introduction of its Big Talk vocabulary builder machine due to technical difficulties. Educational Insights' President and Chief Executive Officer Jay Cutler stated that the postponement, combined with shortfalls in expected production levels on three other products, will result in lower than originally expected revenue and earnings levels. He further stated that as a major shareholder and director of the company, he has concluded that the company would benefit from new leadership; particularly in the areas of product development, product line expansion, and the development of new strategic business opportunities. He said that he has, therefore, decided to resign as President and CEO as soon as a suitable replacement can be recruited. He added that the company has employed Heidrick & Struggles to conduct a search for a new CEO. "I have wanted to pursue other personal interests for some time," said Cutler, "but I have declined to do so because of my strong feeling of responsibility for the company." Cutler anticipates remaining a major shareholder and a director of the company but had not yet decided whether he would continue to be involved with Educational Insights, Inc. in any other capacity. Educational Insights, Inc. designs, develops, and markets a variety of supplemental educational materials including electronic learning aids, activity books, science kits, board games, and other materials for use in both schools and homes. The company's 800+ products and related material cover a broad range of price points and are designed to supplement more traditional textbook methods of teaching while making learning fun. The company's product line, led by its most popular product, the GeoSafari Electronic Learning Game, appeals to children and students ranging from pre-kindergarten to adult. 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 thereunto duly authorized. Educational Insights, Inc. (Registrant) October 20, 1997 By: /s/ Stephen E. Billis ----------------------------------- Stephen E. Billis Controller and Secretary -----END PRIVACY-ENHANCED MESSAGE-----