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): September 17, 2002
CATALYST INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Delaware | 0-27138 | 39-1415889 |
(State or other jurisdiction | (Commission | (IRS Employer |
8989 North Deerwood Drive | 53223 | |
(Address of principal executive offices) | (Zip Code) | |
Registrant’s telephone number, including area code: (414) 362-6800
Item 5. Other Events.
On September 17, 2002 the Company executed a variation and termination agreement with a customer. Under the agreement, the Company was relieved from providing any further development work under a previously existing purchase and sale agreement. At July 31, 2002, the Company had short-term deferred revenue of $1.3 million and long-term deferred revenue of $1.5 million (total deferred revenue of $2.8 million) relating to its obligation to provide development services to the customer in accordance with the prior purchase and sale agreement.
As a result of the agreement, the Company will reduce its deferred revenue liabilities relating to the purchase and sale agreement and record non-operating income in the same amount. The effect on the Company’s consolidated balance sheet will be a reduction of the deferred revenue liabilities and an increase in shareholders’ equity.
Attached as Exhibit 99.1 is a pro forma balance sheet of the Company at July 31, 2002 which gives effect to the variation and termination agreement.
Item 7. Exhibits.
Exhibit No. | Description |
99.1 | Pro forma balance sheet as of July 31, 2002 |
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.
Dated: September 20, 2002 | CATALYST INTERNATIONAL, INC. |
By: /s/ James B. Treleaven | |
James B. Treleaven President and Chief Executive Officer | |
EXHIBIT INDEX
Exhibit No. | Description |
99.1 | Pro forma balance sheet as of July 31, 2002 |
