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 : August 28, 1997
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(Date of earliest event reported) : June 26, 1997
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 executive offices Zip Code
(212) 983 5620
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Registrant's telephone number,
including area code
ITEM 5. OTHER EVENTS
On June 26, 1997, the Registrant (the "Company") entered into two
subscription agreements to sell an aggregate of 10,000,000 shares of common
stock of the Company to Nethold Limited and to Starington Holding, Inc. for a
total cash consideration of $600,000. Shares issued pursuant to these
agreements are not registred and bear a restrictive legend.
On July 3, 1997, the Company entered into a subscription agreement to sell
2,500,000 shares of common stock of the Company to Hillside Industries, Inc. for
a consideration of $150,000. Shares issued pursuant to these agreements are not
registred and bear a restrictive legend.
On August 15, 1997, the Company entered into an agreement with Access
America, Inc. ("Access"). Access to purchase advertising time on certain
networks with a fair market value of $4,000,000. The Company agreed to issue
Access 2,000,000 shares of common stock valued at $2.00 per share and further
agreed to issue Access additional shares of common stock if the company's common
stock is traded below $2.00 per share on August 11, 1998, such that the total
value of the shares issued and issuable to Access shall be $4,000,000.
ITEM 7 EXHIBITS
10.218 Agreement between the Company and Access America, Inc., dated
August 15,1997
10.219 Subscription agreement between the Company and Nethold Limited,
dated June 16, 1997.
10.220 Subscription agreement between the Company and Starington
Holding, Inc., dated June 16, 1997.
10.221 Subscription agreement between the Company and Hillside
Industries, Inc., dated July 3, 1997.
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 authorised.
MANAGEMENT TECHNOLOGIES, INC.
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(Registrant)
/s/ Patrick Huguenin
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Patrick Huguenin
Chief Financial Officer
Dated: New York, New York