sec document
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) December 5, 2003
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TIDEL TECHNOLOGIES, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-17288 75-2193593
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
5847 San Felipe, Suite 900, Houston, TX 77057
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (713) 783-8200
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(Former name or former address, if changed since last report.)
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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(a) Financial Statements of Business Acquired.
Not Applicable.
(b) Pro Forma Financial Information.
Not Applicable.
(c) Exhibits.
99.1 Press Release dated December 5, 2003.
Item 12. Results of Operations and Financial Condition
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On December 5, 2003, the Registrant announced that it closed a $6.85
million financing with Laurus Master Fund, Ltd. The financing is
comprised of a three-year convertible note in the amount of $6.45
million and a one-year convertible note in the amount of $400,000. Each
of the notes are convertible into the Registrant's common stock.
Warrants to purchase the Registrant's common stock were also issued. $6
million of the proceeds were used to retire the Registrant's 6%
convertible subordinated debentures.
The Registrant announced it has continued to sustain substantial losses
since the quarter ended June 30, 2002, which is the latest period for
which it has filed a Form 10-Q report. Accordingly, the Registrant
expects to report substantial losses for the quarter and the fiscal
year ended September 30, 2002, and for each of the quarters and for the
fiscal year ended September 30, 2003. Unaudited revenues for the fiscal
years ended September 30, 2002 and 2003 were approximately $19.4
million and $17.8 million, respectively. These financial results are
subject to the performance and completion of the audits for the
periods.
For additional information, reference is made to the press release
which is attached hereto as Exhibit 99.1 and is incorporated herein by
reference.
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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.
TIDEL TECHNOLOGIES, INC.
Date: December 5, 2003
By: /s/ James T. Rash
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James T. Rash
Chief Executive and Financial Officer
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EXHIBIT INDEX
Exhibit No. Description
99.1 Press Release dated December 5, 2003
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