UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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) 12/29/03
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Rapidtron, Inc.
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(Exact name of registrant as specified in its charter)
Nevada 000-31713 88-0455472
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(State or other jurisdiction (Commission (IRS Employer
of incorporation File Number) Identification No.)
3151 Airway Avenue, #Q, Costa Mesa, California 92626-4627
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 949-759-9400
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(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE.
On December 29, 2003, we finalized a blanket purchase order with a national
fitness club chain. The purpose of the purchase order is to provide for the
purchase of 100 access control systems over the next four months, including an
automatic turnstile with readers of Smart and bar code cards, access gates that
comply with the Americans with Disabilities Act, and software. A copy of this
purchase order is included as an exhibit to this From 8-K.
This contract represents a significant new piece of business because we expect
to receive gross revenue of approximately $1,500,000 over the next four months.
In addition, this commitment from a nationally recognized fitness chain provides
credibility to our product, and we believe this will increase our opportunity to
sell our products to other fitness clubs.
Rapidtron purchases its equipment form our Austrian supplier, Axess AG, at
wholesale prices to be paid in Euros. Under the purchase order, we are
obligated to sell the equipment at a fixed price in U.S. Dollars, without any
adjustment for the change in the value of the US dollar to the Euro over the
next four months. The continuing decline of the US dollar will have an adverse
effect on our profitability from this order.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(C) EXHIBITS
The following exhibits are included as part of this report:
10.1 Purchase Order with national fitness club chain, dated December 29, 2003.
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.
RAPIDTRON, INC., a Nevada corporation
Date: January 21, 2004 By: /s/ John Creel
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John Creel,
Chief Executive Officer