SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-KCURRENT REPORTPursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest Event reported) August 26, 2002 Digital Recorders, Inc. |
North Carolina (State or other jurisdiction of incorporation) | 01-13408 (Commission File Number) | 56-1362926 (IRS Employer Identification No.) |
4018 Patriot Drive, Suite 100, Durham, North Carolina 27703 Registrant’s telephone number, including area code (919) 361-2155 |
Item 5. Other EventsOn August 26, 2002, Digital Recorders, Inc. consummated a privately negotiated sale of a convertible subordinated debenture to John Higgins, a private investor and a director of the Company. Copies of the forms of the definitive agreements governing the sale of securities are attached to this Form 8-K as Exhibit 99.1 through 99.6. Item 7. Financial Statements and Exhibits(c) Exhibits: |
99.1 | Form of Loan Agreement dated as of August 26, 2002, by and among Digital Recorders, Inc. and John D. Higgins. |
99.2 | Form of Digital Recorders, Inc., 8% Convertible Debenture dated August 26, 2002, issued to John D. Higgins. |
99.3 | Form of Security Agreement dated as of August 26, 2002, among Digital Recorders, Inc. and John D. Higgins. |
99.4 | Form of Pledge Agreement dated as of August 26, 2002, between Digital Recorders, Inc. and John D. Higgins. |
99.5 | Form of Subsidiary Guaranty dated as of August 26, 2002, by Subsidiaries of Digital Recorders, Inc. in favor of John D. Higgins. |
99.6 | Form of Subsidiary Security Agreement dated as of August 26, 2002, among TwinVision of North America, Inc., Digital Audio Corporation, and John D. Higgins. |
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SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. |
DIGITAL RECORDERS, INC. |
DATE: August 29, 2002 | By: /s/ David L. Turney David L. Turney Chairman of the Board, President and Chief Executive Office |
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