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 reported) September 24, 2002
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Unitrend, Inc.
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(Exact name of registrant as specified in its charter)
Nevada 001-15777 34-341904923
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation
4665 W. Bancroft St., Toledo, Ohio 43615
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 419-536-2090
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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 September 20, 2002, Unitrend, Inc. entered into a contract with New
Product Innovations, Inc. (NPI) to provide turnkey manufacturing of its
product line. NPI is a joint venture between General Electric (GE) and
Fitch Inc. NPI along with Fitch will complete product development, obtain
agency approvals (UL, FCC, CE, CI, etc.), engage in product positioning,
and manufacturing development. Upon completion of the manufacturing
development process, NPI will utilize General Electric's "Global Network"
to produce Unitrend's products and deliver complete units ready for sale
and shipment. Soft tool beta production should begin in the second
quarter of 2003 with full production to follow in the third quarter of
2003. The contract will allow Unitrend to focus on its core compentencies
and operate at maximum efficiency. By contracting NPI and utilizing their
GE global network for its "out-source manufacturing", Unitrend takes
advantage of existing infrastructures and excess production capacities that
are already staffed by pre-trained personnel. By selecting companies
whose histories of success span decades, Unitrend takes even greater
advantage of their experience and knowledge to hone our own skills as
entrepreneurs.
The above mentioned contract allows Unitrend to implement major changes in
its previous announced plans. Previously, the Company outlined a plan to
produce its own products by its subsidiary, Osborne Manufacturing, Inc.,
in Wauseon, Ohio. The contract entered into with NPI makes Unitrend's
plan to manufacture obsolete. As a direct result, management believes
Unitrend can save time and money by dissolving its subsidiary and ceasing
operations at its production facility by shifting all production to NPI.
The decision to shut down manufacturing operations will become effective
on September 30, 2002.
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, thereunto duly authorized.
UNITREND, INC.
Dated: September 24, 2002 By: /S/ CONRAD A.H. JELINGER
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Conrad A.H. Jelinger
Chief Executive Officer, Interim Chief
Financial Officer and President
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