SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
FIRST AMENDMENT TO
CURRENT REPORT
ON FORM 8-K
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report : October 31, 1996
-----------------
(Date of earliest event reported) : (October 4, 1996 )
------------------
MANAGEMENT TECHNOLOGIES, INC.
-----------------------------
(Exact name of Registrant as specified in its Charter)
NEW YORK
--------
(State or other jurisdiction of incorporation)
0-17206 13-3029797
- --------------------- ----------------
Commission File No. I.R.S. Employer Identification
630 Third Avenue, New York, NY 10017
- ------------------------------ --------
Address of principal Zip Code
executive offices
(212) 557-0022
- --------------------
Registrant's telephone number,
including area code
ITEM 5. OTHER EVENTS
On October 4, 1996, the Registrant ("Management Technologies, Inc." or
"the Company") placed $750,000 of its Series Y 6% convertible debenture (the
"Series Y Debenture"), maturing December 31, 1997, with various parties,
pursuant to a resolution of the Company's Board of Directors. The amounts
placed the Series Y Debenture subscribers are as follows:
Rana Investments Company $450,000
RCI Investment Fund Limited $300,000
The Series Y Debenture is convertible at the lower of (i) 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 closing date of the debenture or (ii) 70 % 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 a commission equal to 6% of the
gross proceeds to PennyDome Ltd as compensation for arranging the placement of
its Series Y Debenture. PennyDome Ltd is not an affiliate of the Company.
ITEM 7. EXHIBITS
10.214 Form of Series Y Convertible Debenture, incorporated by
reference to exhibit 10.214 to the Company's current report on
Form 8-K dated October 30, 1996
10.215 Form of Offshore Securities Subscription Agreement, incorporated
by reference to exhibit 10.215 to the Company's current report on
Form 8-K dated October 30, 1996
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.
-----------------------------
(Registrant)
/s/ Peter Morris
----------------------------------
Peter Morris
President & Chief Operating Officer
Dated: New York, New York
October 31,1996