SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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) April 13, 2004
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INTERNATIONAL IMAGING SYSTEMS, INC.
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(Exact name of registrant as specified in Charter)
Delaware 000-25413 65-0854589
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(State of other Jurisdition of (Commission file no.) (IRS employer
of incorporation) identification no.)
6689 N.W, 16th Terrace, Ft. Lauderdale, FL 33309
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (954) 978-9090
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Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
Forward Looking Statements
This Form 8-K and other reports we file from time to time with the
Securities and Exchange Commission (collectively the "Filings") contain or may
contain forward looking statements and information that are based upon beliefs
of, and information currently available to, our management as well as estimates
and assumptions made by our management. When used in the filings the words
"anticipate", "believe", "estimate", "expect", "future", "intend", "plan" or the
negative of these terms and similar expressions as they relate to us or our
management identify forward looking statements. Such statements reflect our
current view with respect to future events and are subject to risks,
uncertainties, assumptions and other factors (including the risks contained in
the section of this report entitled "Risk Factors") relating to our industry and
our operations and results of operations. Should one or more of these risks or
uncertainties materialize, or should the underlying assumptions prove incorrect,
actual results may differ significantly from those anticipated, believed,
estimated, expected, intended or planned.
Although we believe that the expectations reflected in the forward
looking statements are reasonable, we cannot guarantee future results, levels of
activity, performance or achievements. Except as required by applicable law,
including the securities laws of the United States, we do not intend to update
any of the forward-looking statements to conform these statements to actual
results. The following discussion should be read in conjunction with our
financial statements and the related notes that appear elsewhere in this report.
Item 5. Other Events.
On April 13, 2004, our board of directors approved the spin-off of all
of the shares we own of our wholly-owned subsidiary Renewable Assets, Inc., the
successor to our promotional services line of business. The promotional services
line of business presently consists of marketing pre-owned, brand name photocopy
machines for an unrelated office furniture company pursuant to a marketing
services agreement. In the spin-off transaction, we will distribute to our
stockholders one-half share of the common stock of Renewable Assets, Inc. for
each share of our common stock owned by such stockholder on April 14, 2004. We
intend to complete the spin-off transaction prior to October 31, 2004, but the
spin-off transaction could be delayed. We will provide additional information to
our stockholders as required by applicable law.
Item 7. Financial Statements and Exhibits.
(a) Financial Statements. None.
(b) Pro Forma Financial Information. None
(c) Exhibits. None.
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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.
INTERNATIONAL IMAGING SYSTEMS, INC.
Date: April 29, 2004
/s/ C. LEO SMITH
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C. Leo Smith
Chief Executive Officer
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