UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
May 10, 2006
Date of report (date of earliest event reported)
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DIGITAL FUSION, INC.
(Exact Name of Registrant as Specified in its Charter)
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Delaware 0-24073 13-3817344
(State or Other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification No.)
5030 Bradford NW, Suite 210, Huntsville, AL 35805
(Address of Principal Executive Offices)
(256) 837-2620
(Registrant's telephone number, including area code)
4940-A Corporate Drive, Huntsville, AL 35805
(Former Name or Former address, if Changed Since Last Report)
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Check the appropriate box below if the Form 8-K filing in intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
|_| Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14D-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Section 1 - Registrant's Business and Operations
Item 1.01 Entry into a Material Definitive Agreement.
On May 10, 2006, the Company entered into a $4.5 million line of credit
with First Commercial Bank in Huntsville, Alabama, an affiliate of Synovus
Financial Corporation. The line which matures on May 5, 2007, is to be used
primarily for working capital and to finance the performance of government
contracts. Under the terms of the agreement, the Company may borrow up to $4.5
million under the revolving line of credit, if certain conditions are met.
The loan agreement, note and security agreements, each dated May 10, 2006
among First Commercial Bank of Huntsville and the Company, for a $4.5 million
revolving line of credit, a form of which were filed with the Commission on May
15, 2006 as exhibit 10.3 to the Company's quarterly report on Form 10-QSB (File
No. 0-24073), are incorporated herein by reference.
On May 12, 2006, the Company issued a press release announcing the signing
of the $4.5 million line of credit. A copy of the press release is attached
hereto as Exhibit 99.2.
Section 2 - Financial Information
Item 2.02 Results of Operations and Financial Condition.
On May 10, 2006, the Company issued a press release containing information
regarding its operations and financial condition for the first quarter period
ended March 31, 2006.
A copy of the press release is attached hereto as Exhibit 99.1.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant..
See Item 1.01 which is incorporated herein by reference.
Section 9 - Financial Statements Exhibits
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description
10.3* Loan Agreement, note and security agreements, each dated May 10,
2006 among First Commercial Bank of Huntsville and the Company,
for a $4.5 million revolving line of credit.
99.1** Press release dated May 10, 2006, issued by Digital Fusion,
Inc.
99.2** Press release dated May 12, 2006, issued by Digital Fusion, Inc.
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* Incorporated by reference.
** Filed herewith.
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.
Dated: May 16, 2006
DIGITAL FUSION, INC.
By: /s/ Elena I. Crosby
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Elena I. Crosby, Corporate Secretary
EXHIBIT INDEX
10.3* Loan Agreement, note and security agreements, each dated May 10,
2006 among First Commercial Bank of Huntsville and the Company,
for a $4.5 million revolving line of credit.
99.1** Press release dated May 10, 2006, issued by Digital Fusion,
Inc.
99.2** Press release dated May 12, 2006, issued by Digital Fusion, Inc.
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* Incorporated by reference.
** Filed herewith.