HELP - HELPMATE ROBOTICS :) :)
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January 22, 2002
HELPMATE ROBOTICS INC (HELP.OB)
form 8-K
ITEM 5. OTHER EVENTS
On January 18, 2002, HelpMate Robotics Inc. (the "Company") announced that it would be making a cash distribution to the Company's stockholders of record (the "Record Stockholders") as of January 29, 2002 (the "Record Date") in the amount of 6.3 cents ($0.063) per share of Common Stock (the "Distribution"). The aggregate amount of the Distribution will be approximately $1,258,000. The Distribution will be made to the Record Stockholders on February 11, 2002 or as soon as reasonably practical thereafter (the "Payment Date").
Since the 1999 sale of substantially all of the Company's assets to Pyxis Corporation ("Pyxis"), $1,250,000 of the Pyxis purchase price had been held in escrow in order satisfy potential indemnification claims and agreed-to reimbursement obligations under the asset purchase agreement between Pyxis and the Company. After satisfaction of the agreed to obligations, approximately $1,338,000, representing the full balance of the escrow with interest, was paid out to the Company (the "Pyxis Escrow Payout"). The Company will retain approximately $80,000 of the Pyxis Escrow Payout for working capital. The Distribution represents a distribution to the Company's stockholders of the balance of the Pyxis Escrow Payout. |
