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): July 5, 2005
Sono-Tek Corporation
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(Exact name of registrant as specified in its charter)
Commission File Number: 0-16035
New York 14-1568099
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(State of Incorporation) (I.R.S. Employer ID No.)
2012 Route 9W, Milton, New York 12547
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (845) 795-2020
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Check appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligations of the registrant under any of the following
provisions:
|_| Written communications pursuant to Rule 425 under Securities Act (17 CFR
230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
In June 2005, Sono-Tek Corporation (the "Company"), completed an internal review
from which the Company determined that a former employee had misappropriated
approximately $250,000 of the Company's monies, primarily through unauthorized
check writing from the Company's accounts over a period of time. The Company has
previously expensed substantially all of the misappropriated funds and,
accordingly, their discovery is expected to have no further impact on previously
reported financial statements and is expected to have only minimal effect on the
results of operations and balance sheet to be reported in the Company's
quarterly report on form 10-QSB for the quarter ended May 31, 2005.
As of July 5, 2005, the Company had pursued appropriate remedies to recover the
majority of the funds, and is proceeding to do so. However, the Company can
offer no assurance that it will be successful in its efforts to collect some or
all of the anticipated remaining restitution according to the negotiated
schedule of payments. Additionally, the Company has taken steps to strengthen
its financial organization, recently adding a Chief Financial Officer enabling a
greater segregation of duties.
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.
SONO-TEK CORPORATION
By: /s/ Christopher L. Coccio
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Christopher L. Coccio
Chief Executive Officer
July 5, 2005