SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
SECOND 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 : November 14, 1996
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(Date of earliest event reported) : (July 22, 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 July 22 and August 23, 1996, the Registrant ("Management
Technologies, Inc." or "the Company") placed $1,800,000 of its Series X 9%
convertible debenture (the "Series X Debenture"), maturing December 31, 1997,
with various parties, pursuant to a resolution of the Company's Board of
Directors. The amounts placed, placement date and the Series X Debenture
subscribers are as follows:
July 22, 1996 UC Financial Ltd. $200,000
July 22, 1996 Paril Holding $250,000
July 22, 1996 G.B.J. inc. $100,000
July 23, 1996 UC Financial Ltd. $200,000
July 30, 1996 Torah Vachesed Le'zra Vesad $400,000
August 1, 1996 Hershel Goldberg $100,000
August 6, 1996 FT Trading $100,000
August 06, 1996 Hirsch Kraus $100,000
August 23, 1996 Invirza S.A. $300,000
August 23, 1996 Henza Koening $25,000
August 23, 1996 Irwin Taiger $25,000
The Series X Debenture is convertible at the lower of 65 % 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 65 % 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 Venture Guarantee Limited as compensation for arranging the
placement of its Series X Debenture. Venture Guarantee Limited is not an
affiliate of the Company.
The following Series X debentures have been presented for conversion:
Conversion Holder Conversion Conversi
Date Amount on
Shares
September 9, 1996 Paril Holding $100,000 410,341
September 16, 1996 UC Financial $100,000 523,834
September 18, 1996 UC Financial $100,000 547,046
September 16, 1996 Paril Holding $150,000 785,752
September 18, 1996 Torah Vachesed Lezra $125,000 683,807
Vesad
September 18, 1996 GBJ, Inc. $100,000 547,046
September 18, 1996 UC Financial $75,000 410,256
September 19, 1996 UC Financial $100,000 535,103
September 16, 1996 Goldberg $100,000 523,834
October 1, 1996 FT Trading $50,000 307,692
October 4, 1996 Hirsch Kraus $60,000 447,761
October 11, 1996 FT Trading $25,000 219,780
October 14,1996 Irwin Taiger $25,000 211,864
October 14,1996 Henza Koenig $25,000 211,864
October 16, 1996 Torah Vachesed Lezra $50,000 492,611
Vesad
October 22, 1996 Hirsch Kraus $40,000 492,308
October 23, 1996 FT Trading $25,000 307,692
October 23, 1996 Torah Vachesed Lezra $50,000 615,385
Vesad
October 24, 1996 Torah Vachesed Lezra $75,000 879,250
Vesad
October 24, 1996 UC Financial $25,000 294,118
ITEM 7. EXHIBITS
10.212 Form of Series X Convertible Debenture incorporated by
reference to exhibit 10.212 to the Company's current report on Form 8-K
dated August 9, 1996.
10.213 Form of Offshore Securities Subscription Agreement incorporated
by reference to exhibit 10.213 to the Company's current report on
Form 8-K dated August 9, 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.
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(Registrant)
/s/ Peter Morris
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Peter Morris
President & Chief Operating Officer
Dated: New York, New York
November 14, 1996