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 : October 31, 1996
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(Date of earliest event reported) : (October 4, 1996 )
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MANAGEMENT TECHNOLOGIES, INC.
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(Exact name of Registrant as specified in its Charter)
NEW YORK
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(State or 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
Between October 4, and October 7, 1996, the Registrant ("Management
Technologies, Inc." or "the Company") placed $3,050,000 of its Series Z 9%
convertible debenture (the "Series Z Debenture"), maturing August 31, 1997, with
various parties, pursuant to a resolution of the Company's Board of Directors.
The Series Z Debenture amounts placed and subscribers are as follows:
FT Trading Company $100,000
UFH Endowment Ltd. $300,000
Asia Equities, Inc. $100,000
Michael Pollack $50,000
Passy Holding $200,000
Avron Finanz $450,000
Guarantee & Financing Corp. $100,000
Albert Yanni $200,000
Eli Gutnick $100,000
Anthony Friedman $100,000
Lampton, Inc. $200,000
Mifal Klita $550,000
Lily Katz $150,000
Gesher Trading Ltd. $100,000
Emes Foundation $100,000
UFH Endowment Ltd. $150,000
Michael Pollack $50,000
Equivest Premier Holdings, Inc. $50,000
The Series Z Debenture is convertible at the lower of (i) 85% 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 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 10% of the
gross proceeds to Select Capital Advisors, Inc. as compensation for arranging
the placement of its Series Z Debenture. Select Capital Advisors, Inc. is not
an affiliate of the Company.
ITEM 7. EXHIBITS
10.216 Form of Series Z Convertible Debenture
10.217 Form of Offshore Securities Subscription Agreement
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
October 31, 1996