SECURITIES AND EXCHANGE COMMISSION | ||
_________________________ | ||
| ||
FORM 8-K | ||
| ||
CURRENT REPORT | ||
| ||
December 19, 2000 | ||
| ||
Nu-kote Holding, Inc. | ||
| ||
Texas | 0-20287 | 16-1296153 |
| ||
200 Beasley Dr. | ||
| ||
(615) 794-9000 |
Item 3. | Bankruptcy or Receivership | |||||
On November 30, 2000, the United States Bankruptcy Court for the Middle District of Tennessee in Nashville, Tennessee (the "Bankruptcy Court") entered an order confirming the Registrant's Third Amended Plan of Reorganization, dated September 8, 2000, as modified (the "Plan"). On December 8, 2000, the Bankruptcy Court entered a corrected confirmation order confirming the Plan. | ||||||
The following is a summarization of the material features of the Plan: | ||||||
| l | The issuance after the effective date of the Plan of all of the newly issued shares of the Registrant's common stock to Nu-kote Acquisition Corporation ("NAC"). | ||||
| l | The retention by NAC of its secured claims in the amount of $15,000,000 secured by the assets of the Registrant and certain of the Registrant's subsidiaries. | ||||
| l | The payment of 100% of all administrative and priority claims. | ||||
| l | The payment of 20% of each unsecured claim of $1,500 or less pursuant to a cash dividend. | ||||
| l | The payment of $600,000 to the unsecured creditors, which amount will be divided among the unsecured creditors on a pro-rata basis pursuant to the terms of the Plan. | ||||
| l | The cancellation of all of the Registrant's shares of common stock outstanding on the effective date of the Plan. | ||||
The status of the Registrant's common stock will be as follows immediately after the effective date of the Plan: | ||||||
| ||||||
| Issued and Outstanding | 10,000 |
| |||
Assets and Liabilities: | ||||||
The Balance Sheet of the Registrant as of September 29, 2000 is as follows: |
Nu-Kote Holding, Inc.
Consolidated Balance Sheet
As of September 29, 2000
Cash and Cash Equivalents | $ 6,784,194 |
|
Receivables, Net | 11,099,447 |
|
Accounts Receivable - Pelikan | 0 |
|
Intercompany Accounts Receivable - Trade | 184,046,416 |
|
Inventories, Net | 18,406,287 |
|
Prepaid Expenses | 4,088,536 |
|
Deferred Income Tax Asset - Current | 3,418,773 |
|
Total Current Assets | $ 227,843,653 |
|
Property, Net | $ 13,302,832 |
|
Investment in Subsidiaries | 0 |
|
Other Assets and Deferred Charges | 2,500,000 |
|
Assets Held for Sale | 410,195 |
|
Intangibles, Net | 2,033,665 |
|
Deferred Income Tax Asset - Long-Term | 0 |
|
Intercompany Accounts Receivable - Long-Term | 14,822,062 |
|
Total Assets | $ 260,912,407 |
|
Bank Loans and Current Maturities | $ 0 |
|
Accounts Payable - Trade | 22,996,539 |
|
Accounts Payable - Pelikan | 0 |
|
Intercompany Accounts Payable - Trade | 14,133,467 |
|
Compensation Payables | 1,873,749 |
|
Deferred Income Tax Liability - Current | 0 |
|
Other Accrued Liabilities | 9,520,684 |
|
Total Current Liabilities | $ 48,524,439 |
|
Long Term Debt | $ 96,190,416 |
|
Other Noncurrent Liabilities | 4,787,900 |
|
Deferred Income Tax Liability - Long-Term | 3,418,773 |
|
Intercompany Accounts Payable - Long-Term | 115,233,592 |
|
Total Liabilities | $ 268,155,120 |
|
Capital Stock | $ 17,600 |
|
Paid-In Capital | 49,621,099 |
|
Retained Earnings - Beginning of Year | (57,613,455 | ) |
Net Income - Year-to-Date | 732,043 |
|
Accumulated Translation Adjustment | 0 |
|
Total Equity | $ 7,242,713 |
|
Total Liabilities & Equity | $ 260,912,407 |
|
Item 7. | Financial Statements, Pro forma Financial Information and Exhibits | ||
| (c) | Exhibits. | |
|
| 2.1* | Third Amended Plan of Reorganization, dated September 8, 2000, for Nu-kote Holding, Inc., Nu-kote Imperial, Ltd., Nu-kote International, Inc., Nu-kote Imaging International, Inc., International Communication Materials, Inc., Future Graphics, Inc. and Nu-kote Latin America, Inc. |
|
| 2.2* | First Modification to Third Amended Plan of Reorganization, dated November 14, 2000, for Nu-kote Holding, Inc., Nu-kote Imperial, Ltd., Nu-kote International, Inc., Nu-kote Imaging International, Inc., International Communication Materials, Inc., Future Graphics, Inc. and Nu-kote Latin America, Inc. |
________________________
* Filed herewith
[SIGNATURE PAGE FOLLOWS]
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Nu-kote Holding, Inc. | |
|
|
|
|
|
|
Dated: December 19, 2000 | By: | PHILLIP THEODORE |
|
| Phillip Theodore, Senior Vice President, Chief Financial Officer, Treasurer, Assistant Secretary |
EXHIBIT INDEX
Exhibit No. | Description |
2.1* | Third Amended Plan of Reorganization, dated September 8, 2000, for Nu-kote Holding, Inc., Nu-kote Imperial, Ltd., Nu-kote International, Inc., Nu-kote Imaging International, Inc., International Communication Materials, Inc., Future Graphics, Inc. and Nu-kote Latin America, Inc. |
2.2* | First Modification to Third Amended Plan of Reorganization, dated November 14, 2000, for Nu-kote Holding, Inc., Nu-kote Imperial, Ltd., Nu-kote International, Inc., Nu-kote Imaging International, Inc., International Communication Materials, Inc., Future Graphics, Inc. and Nu-kote Latin America, Inc. |
___________________
* Filed herewith