SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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) May 2, 2000
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AMERICAN ACCESS TECHNOLOGIES, INC.
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(Exact name of registrant as specified in its charter)
Florida 59-3410234
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(State or other jurisdiction (IRS Employer
of incorporation) Identification No.)
37 Skyline Drive, Suite 1101, Lake Mary, Florida 32746
Registrant's telephone number, including area code: (407) 333-1446
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Item 5. Other Events
On May 2, 2000, Registrant entered into a Stock Purchase Agreement with Crescent
International, Ltd. of Geneva, Switzerland ("the Investor"), in which the
Company may issue and sell to the Investor, from time to time, and the Investor
shall purchase, up to $15,000,000 of the Common Stock at the Registrant's
request. The Registrant sold 406,278 shares of Common Stock for $1,900,000, on
May 2, 2000 and issued the Investor a warrant to purchase 128,000 shares of
common stock par value $0.001 per share at the exercise price of $7.0149 per
share until May 2, 2005, subject to extension under certain circumstances.
Additionally, the Investor may purchase additional shares for $0.01 per share in
the event the market price is below $4.6766 at the effective date of the
registration of the initial 406,278 shares purchased. Unless the Company obtains
the requisite approval of its shareholders in accordance with the corporate laws
of Florida, no more than 19.9% of the outstanding shares of Common Stock may be
issued and sold to the Investor. Additional sales of Registrant's common stock
to the Investor is at a price of 92% of average low bid price during a valuation
period and is subject to a number of conditions prior to any additional sales.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
The following Exhibits are filed herewith:
Exhibit No. Description
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1. Stock Purchase Agreement Executed by American Access
Technologies, Inc. and Crescent International, Ltd.
2. Registration Rights Agreement
3. Incentive Warrant
4. Early Put Warrant
5. Closing Statement
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, the Registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
AMERICAN ACCESS TECHNOLOGIES, INC.
May 4, 2000 By: s/John Presley
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John Presley, President
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