SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CURRENT REPORT
ON FORM 8-K
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report : July 15, 1996 (Date of earliest event reported)
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(May 7, 1996 )
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MANAGEMENT TECHNOLOGIES, INC.
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(Exact name of Registrant as specified in its Charter)
NEW YORK (State of
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other jurisdiction of incorporation)
0-17206 13-3029797
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Commission File No. I.R.S. Employer Identification
630 Third Avenue, New York, NY 10017
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Address of principal Zip Code
executive offices
(212) 557-0022
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Registrant's telephone number,
including area code
ITEM 5. OTHER EVENTS
On May 7, 1996, Management Technologies, Inc. ("the Company") placed
$800,000 of its Series E 9% convertible debenture (the "Series E Debenture"),
maturing December 31, 1997, with AT Investments S.A.("ATI"), pursuant to a
resolution of the Company's Board of Directors. The Series E Debenture is
convertible at the lower of $.60 per share or 62.5% of the average closing bid
for the market price of the Company's stock as traded on the Over-the-Counter
market for a five (5) consecutive business days immediately preceding the
conversion date.
In addition, the Company agreed to pay Mr. Albert Taubi a $88,000
commission as compensation for arranging the placement of $800,000 of its Series
E Debenture. Mr. Albert Taubi and AT Investments S.A. are not affiliates of the
Company.
On June 27, 1996, AT Investments S.A. elected to convert $200,000 of the
Series E Debenture into 426,666 shares of common stock of the Company.
ITEM 7. EXHIBITS
10.203 Copy of 9% Convertible E Debenture issued to ATI dated May 7,
1996.
10.204 Copy of an Offshore Securities Subscription Agreement with ATI
dated May 7, 1995.
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.
MANAGEMENT TECHNOLOGIES, INC.
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(Registrant)
/s/ Peter Morris
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Peter Morris
President & Chief Operating Officer
Dated: New York, New York