UNITED STATES
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): September 24, 2001
DCH TECHNOLOGY, INC.
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(Exact name of registrant as specified in its charter)
000-26957
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(Commission File Number)
Delaware 84-1349374
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(State or other jurisdiction (I.R.S. Employer Identification No.)
of incorporation or organization)
24832 Avenue Rockefeller, Santa Clarita, CA 91355
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(Address of Principal Executive Offices Including Zip Code)
Registrant's telephone number, including area code: (661) 775-8120
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Not Applicable
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(Former name or former address, if changed since last report)
<PAGE>
Items 1, 3 through 6, and 8 Not Applicable.
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
On August 31, 2001, DCH Technology, Inc. ("DCH") entered into a Purchase
and Sale Agreement (the "Agreement") for the sale by DCH to Rediger Investment
Corporation ("Rediger"), of the real property owned by DCH and located at 24832
Avenue Rockefeller, Santa Clarita, California (the "Property"). The Property was
encumbered by a loan in the amount of $730,000 from CalFed Bank ("Loan"), and
additionally secured by a Certificate of Deposit in the amount of $700,000. Upon
consummation of the sale of the Property pursuant to the Agreement ("Closing"),
Cal Fed Bank has returned to DCH the sum of $700,000, which represents the
Certificate of Deposit referenced above, less a prepayment penalty in the amount
of three percent (3%) of the Loan. The Closing occurred on September 24, 2001.
Subsequent to the Closing, DCH has entered into a lease, effective
September 24, 2001, by and between DCH and Rediger, whereby DCH has leased the
Property back from Rediger ("Lease") for a term of ten years, under a triple net
lease at a rate of $.617 per square foot, which amount includes a credit to DCH
in the amount of $.08 per square foot per month. The purchase price for the
property under the Agreement was $1,420,000, of which $1,256,000 was payable in
cash. The balance of $164,000 will be received by DCH as a credit against future
payments to Rediger under the Lease.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Financial statements: N/A
(b) Pro forma financial information: N/A
(c) Exhibits: The following Exhibits are attached hereto and incorporated
herein by reference:
Exhibit Number Description of Exhibit
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10.1 Purchase and Sale Agreement
10.2 Standard Industrial/Commercial Single-Tenant Lease
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, thereunto duly authorized.
DCH TECHNOLOGY, INC.
Date: October 5, 2001
By: /s/ John Donohue
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John Donohue, CEO
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