SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 and 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
January 8, 2003 (December 18, 2002)
ONLINE POWER SUPPLY, INC.
- --------------------------------------------------------------------------------
Exact Name of Registrant as Specified in its Charter)
Nevada 00-29669 84-1176494
- ------------------------------ ---------------------- ----------------------
(State or other jurisdiction (Commission File No.) (I.R.S. Employer
of incorporation) Identification No.)
8100 South Akron, Suite 308
Englewood, Colorado 80112
- ------------------------------------------------------- ----------------------
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (303) 741-5641
Not Applicable
- --------------------------------------------------------------------------------
(Former Name, Former Address or Former Fiscal Year,
if Changed From Last Report)
ITEM 5. OTHER EVENTS
On December 18, 2002 the company filed a lawsuit in District Court,
Arapahoe County, Colorado, against Saturn Electronics & Engineering, Inc.,
Auburn Hills, Michigan. Saturn is the contract manufacturer for the company's
power supply devices.
The company alleges that Saturn has breached its contract with the company
by overcharging the company for devices made by Saturn for the company, by not
crediting the company for parts inventory purchased by the company and used in
manufacturing, by charging the company for inappropriate expenses unrelated to
the manufacturing process, and by failing to return inventory not used in
manufacturing. The company also alleges unjust enrichment by Saturn at the
company's expense, fraudulent representations by Saturn, tortious interference
with contract and prospective business advantage by Saturn, and breach of
fiduciary duty by Saturn.
The complaint seeks damages believed to be in excess of $1,400,000, an
accounting for materials and expenses paid to Saturn by the company, and
rescission of the manufacturing contract with Saturn.
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.
ONLINE POWER SUPPLY, INC.
Dated: January 7, 2003 By: /s/ Glenn M. Grunewald
-------------------------------
GLENN M. GRUNEWALD,
Chief Executive Officer
2