-----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, L1d5MjkUwsb8tGXNvVAc+XN3O0bnWc+2iy5NDMVnTMc+/SrsquA0Wl3RWIEIiDLI zkptd8HKE2r7LF8ZSmrsEw== 0000913569-98-000173.txt : 19981008 0000913569-98-000173.hdr.sgml : 19981008 ACCESSION NUMBER: 0000913569-98-000173 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19981001 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19981007 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: DATA SYSTEMS NETWORK CORP CENTRAL INDEX KEY: 0000926849 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 382649874 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-13424 FILM NUMBER: 98721944 BUSINESS ADDRESS: STREET 1: 34705 W TWELVE MILE RD STREET 2: STE 300 CITY: FARMINGTON HILLS STATE: MI ZIP: 48331 BUSINESS PHONE: 2484898700 MAIL ADDRESS: STREET 1: 34705 W 12 MILE RD SUITE 300 STREET 2: 34705 W 12 MILE RD SUITE 300 CITY: FARMINGTON HILLS STATE: MI ZIP: 48331 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 Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 1, 1998 Data Systems Network Corporation (Exact name of registrant as specified in its charter) Michigan (State or other jurisdiction of incorporation) 1-13424 38-2649874 (Commission File Number) (IRS Employer Identification No.) 34705 West Twelve Mile Road, Suite 300, Farmington Hills, Michigan 48331 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (248) 489-8700 Not Applicable (Former name or former address, if changed since last report) ITEM 5. OTHER EVENTS. On October 1, Data Systems Network Corporation issued a press release announcing that is had secured a new revolving credit facility with Foothill Capital Corporation. The press release is attached hereto as Exhibits 99.1, and incorporated herein by reference. ITEM 7: FINANCIAL STATEMENTS AND EXHIBITS Exhibit 99.1 Press Release, dated October 1, 1998 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. October 7, 1998 DATA SYSTEMS NETWORK CORPORATION By: /S/ Michael W. Grieves ------------------------------ Michael W. Grieves Chairman, President and Chief Executive Officer EX-99 2 PRESS RELEASE Exhibit 99.1 Data Systems Receives New Line of Credit Farmington Hills, MI--October 1, 1998--Data Systems Network Corporation (OTC BB:DSYS) announced today that the Company has secured a new revolving credit facility with Foothill Capital Corporation of Los Angeles, CA, a Norwest Company. The new credit line will allow Data Systems to borrow up to a maximum of $20 million. Rates were favorable and the terms of the contract will be extended for the next three years. John Lychos, Chief Financial Officer of Data Systems Network Corporation said, "The new line of credit will provide Data Systems with adequate capital to assist the Company with its near term growth needs. We selected Foothill because of its quality reputation and ability to provide us with the most favorable credit package." Foothill Capital Corporation is a specialty financial services provider of asset based financing to middle market companies for growth/expansion. Foothill became a wholly owned subsidiary of Norwest Corporation in 1995. Norwest (NYSE:NOB) has over $88.5 billion in assets and was named as one of Business Week's Top 50 Best Stock Performers for 1997. Data Systems provides computer network services and products that enable the control of complex distributed computing environments and allow companies to capitalize on their investments in technology and people. The company provides a wide range of network integration services including installation, consultation, technical support and training. It also provides specialized services in remote network management, application development, integrated document management systems and Year 2000 consulting. Based in Farmington Hills, Michigan, Data Systems has 16 offices and more than 230 employees. -0- For additional information contact: Barbara Hauswirth, Director of Marketing 800-544-2086 -----END PRIVACY-ENHANCED MESSAGE-----