FORM 8-K
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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) MAY 7, 2003
USA VIDEO INTERACTIVE CORP.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHAPTER)
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WYOMING 0-29651 06-15763-91
(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION FILE NUMBER) IDENTIFICATION NO.)
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83 HALLS ROAD, OLD LYME, CONNECTICUT 06371
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
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(860) 434 - 5535
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE
NOT APPLICABLE
(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE.
On May 7, 2003, the Registrant announced that Maurice Loverso was appointed
as a director of the Registrant and that Robert D. Smith had resigned as
director in order to pursue other employment opportunities..
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
Exhibit 99.1 News Release dated May 7, 2003.
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.
USA VIDEO INTERACTIVE CORP.
Date : May 7, 2003 By : /s/ Anton J. Drescher
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ANTON J. DRESCHER,
CORPORATE SECRETARY
MAY 7, 2003 - OLD LYME, CONNECTICUT - USA Video Interactive Corp. (OTCBB: USVO;
TSX: US; BSE/Frankfurt: USF; http://www.usvo.com)
The Company is pleased to announce the appointment of Maurice Loverso to the
Board of Directors of the Company. Mr. Loverso brings years of experience as a
financial consultant to small- and mid-cap companies. "We are very pleased to
welcome Mr. Loverso to the Board. His financial background will greatly assist
us in our ongoing efforts to support the marketing efforts of the Company's
Video-on-Demand, StreamHQ and DRM Technologies," said Edwin Molina, President.
The Company would also advise that Robert D. Smith has tendered his resignation
as a Director and Chief Operating Officer effective immediately, as he intends
to pursue other employment opportunities that utilitize his military training
and background. Edwin Molina said, "On behalf of the Board, I would like to
thank Bob for all his efforts in overseeing the development and deployment of
the StreamHQ project."
ABOUT USA VIDEO INTERACTIVE CORP.
USVO is a developer and supplier of Internet media delivery services, systems,
and innovative end-to-end solutions. The Company developed its StreamHQ
architecture to provide a wide range of business customers with value-added
media delivery services. USVO holds the pioneering patent for store-and-forward
video, filed in 1990 and issued by the United States Patent and Trademark Office
on July 14, 1992; it has been cited by at least 165 other patents. USVO holds
similar patents in Germany, Canada, England, France, Spain, and Italy. For more
information, visit www.usvo.com.
USA VIDEO INTERACTIVE Corporate Headquarters Office: 83 Halls Road, Old Lyme,
Connecticut, 06371 Telephone (860) 434 - 5535, Facsimile (860) 434 - 5782;
Canada Office: 507 - 837 West Hastings Street, Vancouver, BC V6C 3N6. Trading
symbol on the OTCBB: USVO; Trading symbol on the TSX Venture Exchange US;
Trading symbol on the Berlin and Frankfurt Stock Exchanges: USF. CUSIP
902924208. For more information contact Edwin Molina (860) 434 - 5535;
info@usvo.com
The press release may contain forward-looking statements. Actual results may
differ materially from those projected in any forward-looking statements.
Investors are cautioned that such forward-looking statements involve risk and
uncertainties, which may cause actual results to differ from those described.
The TSX Venture Exchange (TSX) has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.