UNITED STATES
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): December 28, 2004
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COMTEX NEWS NETWORK, INC.
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(Exact Name of Registrant as Specified in its Charter)
Delaware 0-10541 13-3055012
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(State or Other Jurisdiction) (Commission File No.) (I.R.S. Employer
of Incorporation) Identification No.)
625 N. Washington Street, Suite 301, Alexandria, Virginia 22314
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (703) 820-2000
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Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement.
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Comtex News Network, Inc, and Silicon Valley Bank entered into the
Second Amendment to Accounts Receivable Purchase Agreement, effective December
28, 2004 (the "Modification Agreement"). The Modification Agreement modifies the
Accounts Receivable Purchase Agreement between the parties by, among other
matters, decreasing the interest rate payable by Comtex News Network, Inc. on
its existing line of credit with Silicon Valley Bank to the prime rate plus 2.5%
and extending the term of the agreement to December 27, 2005. In addition,
Comtex News Network, Inc. paid a $10,000 modification fee to
Silicon Valley Bank.
Item 9.01. Financial Statements and Exhibits
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(a) Financial Statements of Businesses Acquired. Not applicable
(b) Pro Forma Financial Information. Not Applicable
(c) Exhibits.
Exhibit No. Description
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99.1 Second Amendment to Accounts Receivable
Purchase Agreement, by and between
Silicon Valley Bank and Comtex News Network,
Inc., effective December 28, 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.
COMTEX NEWS NETWORK, INC.
DATE: January 4, 2005 By: /s/ C.W. Gilluly
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C.W. Gilluly, Ed.D.
Chairman and Interim Chief Executive Officer
EXHIBIT INDEX
Exhibit Description
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99.1 Second Amendment to Accounts Receivable Purchase Agreement, by and
between Silicon Valley Bank and Comtex News Network, Inc., effective
December 28, 2004