SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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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) February 5, 1999
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ConSyGen, Inc.
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(Exact Name of Registrant as Specified in Charter)
Texas 17598 76-0260145
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
125 South 52nd street, Tempe Arizona 85281
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (602) 394-9100
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N/A
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(Former Name or Former Address, if Changed Since Last Report)
ITEM 5. OTHER EVENTS
On February 1, 1999, Stephen M. Hicks, general partner of Sovereign Account and
two of the three holders of the Company's outstanding Convertible Debentures,
Sovereign Partners Limited Partnership, a Delaware limited partnership and
Dominion Capital Fund, Ltd., a Bahamian Corporation served an action which was
filed in the United States District Court for the Southern District of New York
against the Company and Thomas S. Dreaper, its President & CEO, to recover
damages for alleged intentional and calculated defamation. Other parties,
unrelated to ConSyGen, were also named as defendants in the lawsuit on similar
allegations. The Plaintiffs seek compensation from ConSyGen and Dreaper each in
the amount of $1,000,000 or in such sum as the Court shall determine, together
with exemplary or punitive damages.
On February 4, 1999, Thomson Kernaghan & Co. Limited and Mark E. Valentine
served an action which was filed in the Ontario Court (General Division) against
the Company, Thomas S. Dreaper, its President & Chief Executive Officer, and Raj
Kapur its Chief Financial Officer to recover damages for alleged defamation. The
Plaintiffs seek compensation from ConSyGen, Dreaper and Raj Kapur jointly and
severally in the amount of $2,000,000 for general damages for libel and slander,
$1,000,000 and for punitive damages plus costs.
The Company believes that it will prevail in the action and has adequate
defenses to these new claims. The outcome of any litigation is not predictable
with any degree of certainty. The Company may incur significant legal expenses
in connection with the litigation.
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.
ConSyGen, Inc.
Date: February 5, 1999 By: /s/ Thomas S. Dreaper
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Thomas S. Dreaper, President
and Chief Executive Officer