SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 26, 2004
PAMET SYSTEMS, INC.
-------------------------
(Exact name of registrant as specified in its charter)
Massachusetts 1-10623 04-2985838
------------------ -------------------- ----------------
(State or other (Commission File Number) (IRS Identification No.)
jurisdiction of
incorporation)
1000 Main Street
Acton, Massachusetts 01720
----------------------------------------
(Address of principal executive offices)
Registrant's telephone number, including area code: (978)263-2060
------------------------------------------------------------
(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS.
-------------
On January 26, 2004, Pamet Systems, Inc., (the "Company")
issued a press release (the "Press Release") announcing that it has
filed to deregister its common stock and suspend reporting obligations
under the Securities Exchange Act of 1934 by filing a Form 15.. A copy
of the Press Release is attached hereto as an exhibit and is
incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
----------------------------------
(c) Exhibits.
99.1 Press Release of Pamet Systems, Inc.
dated January 26, 2004
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.
Pamet Systems, Inc. (Registrant)
Dated: January 26, 2004 By: /s/ Kirke S. Curtis
----------------------
Kirke S. Curtis
President and Chief Executive Officer
INDEX TO EXHIBITS
Exhibit No.
- -----------
99.1 Press Release of Pamet Systems, Inc. dated January 26, 2004.
EXHIBIT 99.1
PAMET SYSTEMS, INC. TO FILE FORM 15 TO REDUCE COSTS
AND IMPROVE OPERATING RESULTS
Acton, Massachusetts, January 26, 2004 - Pamet Systems, Inc. (Pink
Sheets: PAMT or PAMT.PK) (the "Company") today announced that it has
filed to deregister its common stock and suspend reporting obligations
under the Securities Exchange Act of 1934 by filing a Form 15.
"Our Board of Directors has decided to take this action", said Kirke
Curtis, the Company's President and Chief Executive Officer, "because
we believe that disadvantages far outweigh the advantages of continuing
as a public reporting company. As such, the Company incurs significant
accounting, legal and administrative costs to comply with the SEC's
reporting requirements. We believe that the resulting cost savings
will have a positive impact on the Company's operating results.
Further, because the Company's stock is thinly traded and lacks analyst
coverage, we believe that the Company will be better positioned as a
private company to enhance long-term shareholder value."
Immediately upon the filing of Form 15, the Company will no longer file
periodic reports with the SEC, including Forms 10-K, 10-Q, and 8-K.
Deregistration of the Company's common stock is expected to become
effective within 90 days of filing. The Company anticipates that its
common stock will continue to be quoted on the Pink Sheets, to the
extent that market makers make a market in its shares. However, there
is no guarantee that trading will continue.
About Pamet Systems
Pamet Systems, Inc. is a leading provider of information systems and
technologies for public safety and homeland security. Incorporated in
1987, Pamet Systems, Inc., designs, develops, installs, and supports
computer software and systems for the public safety market throughout
the Eastern United States. The Company's innovative applications
automate the acquisition, storage, processing, retrieval and
communication of information for public safety agencies.
Forward-Looking Statements
Certain statements in this release may constitute "forward looking
statements" within the meaning of the Securities Act of 1933 and the
Securities and Exchange Act of 1934, as amended. Certain, but not
necessarily all, of such forward looking statements can be identified
by the use of such words or phrases as "believes," "expects," "may,"
"will," "should," "is very likely to" or "anticipates," or other
variations. The actual results of the company or industry results may
be materially different from any future results expressed or implied by
such forward-looking statements because of factors such as
insufficiency of capital to operate the Company, inability to
successfully market and bring pipeline prospects to closure, changes in
the marketplace including changes in demand for public safety software.
Additional information on factors that could potentially affect the
Company's financial results may be found in the Company's filings with
the Securities and Exchange Commission.