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U.S. 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
NOVEMBER 5, 2003
(Date of earliest event reported)
IMPRESO, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 000-29883 75-20849585
(State or other jurisdiction (Commission File Number) (I.R.S. employer
of incorporation) Identification
Number)
652 SOUTHWESTERN BOULEVARD, COPPELL, TX 75019
(Address of principal executive offices)
(972) 462-0100
(Registrant's Telephone Number, Including Area Code)
5. OTHER EVENTS
On November 4, 2003, the Federal Bureau of Investigation ("FBI")
contacted a Vice President of TST/Impreso, Inc. (the "Company"), a wholly owned
subsidiary of Impreso, Inc., and advised that the FBI suspected the company was
a victim of a crime. At 8:00 A.M. November 5, 2003, the FBI and a representative
of the investigative unit of the bank maintaining the Company's payroll
operating account confronted the Company's payroll administrator for
fraudulently diverting Company funds into her personal bank account. The payroll
administrator admitted guilt to the FBI and the bank investigator. The
investigation by the FBI, the bank and the Company to date has revealed an
approximate loss of $404,000 over a period starting in December 2000 until
October 2003. The investigation is not complete. The Company has notified its
insurance Company of the loss under its employee theft coverage and management
believes that most of the losses will be reimbursed by insurance. Management has
recently hired a full time internal audit specialist to lead its efforts to
evaluate and improve its internal accounting controls and this individual will
be heading up the company's efforts to establish more effective internal
controls over the payroll processing function. The Company is cooperating with
the FBI in its investigation and prosecution of the Company's former employee.
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.
IMPRESO, INC.
(registrant)
Dated: November 14, 2003 By: /s/ Marshall Sorokwasz
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Marshall Sorokwasz,
Chairmanof the Board, Chief Executive
Officer, President, and Director
By: /s/ Susan Atkins
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Susan Atkins,
Chief Financial Officer and Vice
President