-----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, VnmoikEl3mQaaYZkVzHnXNm37vsOBuVspaFkTHIjDzJ+4wZhJoKaxAzeuSAifUwI tODNb2J1LOV/Valg0WhYtQ== 0000950170-97-000521.txt : 19970507 0000950170-97-000521.hdr.sgml : 19970507 ACCESSION NUMBER: 0000950170-97-000521 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970501 ITEM INFORMATION: Bankruptcy or receivership ITEM INFORMATION: Resignations of registrant's directors ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19970506 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: SINGING MACHINE CO INC CENTRAL INDEX KEY: 0000923601 STANDARD INDUSTRIAL CLASSIFICATION: PHONOGRAPH RECORDS & PRERECORDED AUDIO TAPES & DISKS [3652] IRS NUMBER: 953795478 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-24968 FILM NUMBER: 97596371 BUSINESS ADDRESS: STREET 1: 1551 W COPANS ROAD STREET 2: SUITE 100 CITY: POMPANO STATE: FL ZIP: 33064 BUSINESS PHONE: 9549688006 MAIL ADDRESS: STREET 1: 1551 W COPANS ROAD STREET 2: SUITE 100 CITY: POMPANO BEACH STATE: FL ZIP: 33064 8-K 1 SECURITIES AND EXCHANGE COMMISSION ---------------------------------- WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECUTITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): May 1, 1997 THE SINGING MACHINE COMPANY, INC. ------------------------------------------------------------ EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS COMPANY CHARTER DELAWARE 0-24968 95-3795478 - --------------- ------------------- ------------------ State or other Commission File No. IRS Employment jurisdiction of Identification No. incorporation 1551 W. COPANS ROAD SUITE 100 POMPANO BEACH, FLORIDA 33064 -------------------------------------- Address of principle executive offices (954) 968-8006 -------------------------------------------------- Registrant's telephone number, including area code THIS DOCUMENT CONTAINS 4 PAGES. THE EXHIBIT INDEX IS ON PAGE 4. ITEM 3. BANKRUPTCY OR RECEIVERSHIP. On April 11, 1997 The Singing Machine Company, Inc. (The "Company") filed for Chapter 11 protection under the United States Bankruptcy Code in the Southern District of Florida U.S. Bankruptcy Court. A copy of the Company's press release is attached to this report as Exhibit (1). ITEM 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS. On March 26, 1997, Eugene Settler, resigned his board seat as a director of the Singing Machine Company, Inc. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (a) Financial Statements of business acquired: not applicable. (b) Proforma Financial information: not applicable (c) Exhibits. (1) Press Release of The Singing Machine Company, Inc. Dated April 11, 1997. 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 hereunto duly authorized. THE SINGING MACHINE COMPANY, INC. By: /s/ EDWARD STEELE ------------------------ Edward Steele Chief Executive Officer (Principal Financial and Principal Accounting Officer) Dated: May 1, 1997 INDEX TO EXHIBITS SEQUENTIALLY EXHIBIT NUMBERED NUMBERED DESCRIPTION PAGE - -------- ----------- ------------ 1 Press Release of The Singing Machine Company, Inc. Dated April 11, 1997. EX-1 2 EXHIBIT 1 NEWS RELEASE FOR IMMEDIATE RELEASE: Friday, April 11, 1997 CONTACT: Eddie Steele, CEO The Singing Machine Company, Inc. (954) 968-8006 REPRESENTATION: Furr & Cohen, P.A., Boca Raton, Fl THE SINGING MACHINE COMPANY FILES CHAPTER 11 POMPANO BEACH, FL: The Singing Machine Company, Inc. (OTC SING) today filed for protection from its creditors under the provisions of Chapter 11. This filing is the result of unresolved negotiations to schedule payments with several key creditors. The company will operate under the protection of the filing and does not anticipate interruption of deliveries to any of its customers. "The pressure is now off," said company C.E.O. Eddie Steele, "and now we can concentrate on building upon the sales success of last year, and continue to improve our market share in the mass market karaoke field, while improving profitability." "Chapter 11 will give us the opportunity to put into place a comprehensive restructuring plan, while maintaining uninterrupted deliveries to our key mass merchant customers," said Steele. He added, "This filing is a necessity to aid The Singing Machine in building toward financial payback for its shareholders." The Singing Machine Company, Inc., is America's leading consumer karaoke supplier. It's tape and CD/plus/Graphics karaoke players are marketed under the Memorex brand name. The company sells Singing Machine brand karaoke sing along cassettes and CD/plus/Graphics discs. Singing Machine brand products are sold through major mass merchants and catalog retailers in the United States. -----END PRIVACY-ENHANCED MESSAGE-----