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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): October 3, 2002
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TRIAD INNOVATIONS, INC.
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(Exact name of registrant as specified in its charter)
Nevada 000-31189 93-0863198
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
3100 Devonshire Drive, # 206, Plano, Texas 75075
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (972) 596-3955
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(Former name or former address, if changed since last report)
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Item 5. Other Events
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In a letter dated October 3, 2002, the Central Region Office of the
Securities and Exchange Commission (the "SEC") requested the Company voluntarily
provide documentation and certain other information related to: (i) the
Company's press release issued April 17, 2002 regarding the Company's contract
with AquaVenture Capital Limited, (ii) the Company's representations regarding
its ownership of U. S. Patent Number 5,902,224 issued on May 11, 1999 and
relating to the Company's centrifuge technology (the "Patent"), and certain
other patent claims, and (iii) the Company's 1998 reorganization transaction,
and in particular, the Company's acquisition of Fuge Systems Inc. ("Fuge") and
Fuge's ownership of the Patent. The Company has previously disclosed on Form 8-K
filed with the SEC on October 15, 2002 that Hubert B. Shenkin, the Company's
former Chief Executive Officer, informed the SEC that the Company does not own
the Patent. The Company intends to provide the information requested in the SEC
letter. Due to the Company's relocation of its principal offices and certain
other reasons, the SEC letter was actually received by the Company's President
on October 18, 2002.
In a letter dated October 24, 2002, the U.S. Department of Labor informed
the Company that Mr. Shenkin and Christopher Micklatcher, a former director and
officer of the Company, have filed complaints against the Company alleging
discriminatory employment practices in violation of the Sarbanes-Oxley Act of
2002 (the "Act"). The Company believes that Mr. Shenkin's and Mr. Micklatcher's
claims are without merit. Under the Act, the Secretary of Labor must complete an
investigation of Mr. Shenkin's and Mr. Micklatcher's claims within 60 days of
the filing of such claims. The Company is in the process of providing to the
U.S. Department of Labor relevant documents and a statement of its position with
respect to the claims of Mr. Shenkin and Mr. Micklatcher.
The Company has not yet filed with the SEC its Form 10-QSB for the period
ended June 30, 2002. Therefore, the Company is not current in its reporting
obligations and its securities are not eligible for quotation on the OTC
Bulletin Board ("OTCBB") under the National Association of Securities Dealers
("NASD") Rules 6530 and 6540. The Company requested and was granted a hearing on
October 30, 2002 by the NASD Hearing Panel (the "Panel") regarding the Company's
request for the continuing quotation of its securities on the OTCBB. The
Company's securities will continue to be quoted on the OTCBB prior to a
determination by the Panel. An adverse decision by the Panel would result in the
immediate ineligibility of the Company's securities for quotation on the OTCBB.
The Company may appeal an adverse decision of the Panel to the Listing and
Hearing Review Council of the NASD (the "Council"). However, the Company's
securities would continue to be ineligible for quotation during the appeal
process. In the event an adverse decision of the Panel is reversed by the
Council, the Company's securities would then be eligible for quotation on the
OTCBB.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Current Report to be signed on its behalf by the
undersigned hereunto duly authorized.
TRIAD INNOVATIONS, INC.
Date: October 31, 2002 By: /s/ Terry S. Humphry
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Terry S. Humphry
President