0001011060-20-000012.txt : 20200406 0001011060-20-000012.hdr.sgml : 20200406 20200406142437 ACCESSION NUMBER: 0001011060-20-000012 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20200406 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20200406 DATE AS OF CHANGE: 20200406 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EKIMAS Corp CENTRAL INDEX KEY: 0001011060 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 043186647 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11737 FILM NUMBER: 20776721 BUSINESS ADDRESS: STREET 1: 95 WASHINGTON STREET #154 CITY: CANTON STATE: MA ZIP: 02021 BUSINESS PHONE: 508-523-3141 MAIL ADDRESS: STREET 1: 95 WASHINGTON STREET #154 CITY: CANTON STATE: MA ZIP: 02021 FORMER COMPANY: FORMER CONFORMED NAME: AdvanSource Biomaterials Corp DATE OF NAME CHANGE: 20081021 FORMER COMPANY: FORMER CONFORMED NAME: CARDIOTECH INTERNATIONAL INC DATE OF NAME CHANGE: 19960321 8-K 1 asnb200406_8k.htm 200406 ASNB FORM 8K

 

 

 

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): April 6, 2020 (April 6, 2020)

 

EKIMAS CORPORATION

(Exact Name of Registrant as Specified in Charter)

 

Delaware

 

001-11737

 

04-3186647

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

95 Washington Street #154, Canton, Massachusetts

 

02021

(Address of principal executive offices)

 

(Zip Code)

 

Issuer’s telephone number (508) 523-3141

 

ADVANSOURCE BIOMATERIALS CORPORATION

229 Andover Street, Wilmington, Massachusetts 01887

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐

Written communications pursuant to Rule 425 under the 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))

 

Securities registered pursuant to Section 12(b) of the Exchange Act:

 

Title of each class

 

Trading Symbol(s)

 

Name of each exchange on which registered

Common Stock, par value $0.001 per share

 

ASNB

 

Not applicable

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

 

 

 Item 8.01. Other Events.

 

On April 6, 2020, EKIMAS Corporation (formerly known as AdvanSource Biomaterials Corporation) (the “Company”), announced that the Company’s Board of Directors approved a special cash distribution of $0.18 per share at its April 3, 2020 meeting. The cash distribution is payable on April 23, 2020 to shareholders of record as of April 16, 2020. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

 

Item 9.01. Financial Statements and Exhibits.

 

 

(d)

Exhibits.

 

Exhibit No.

 

Description

99.1

 

Press Release Announcing Special Cash Distribution, dated April 6, 2020

 

 

SIGNATURE

 

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.

 

 

EKIMAS CORPORATION

 

 

Dated: April 6, 2020

/s/ Michael F. Adams

 

Michael F. Adams

 

President and Chief Executive Officer

 

 

 EX-99.1 2 asnb8k_ex99z1.htm EXHIBIT 99.1 Press Release Announcing Asset Sale - Final (00741749-7).DOCX

Exhibit 99.1

EKIMAS Corporation Announces Special Cash Distribution

April 6, 2020 – Canton, MA – EKIMAS Corporation (OTCQB: “ASNB”), formerly AdvanSource Biomaterials Corporation (the “Company”), which sold substantially all of its assets to Mitsubishi Chemical Performance Polymers, Inc. on January 31, 2020, today announced that the Company’s Board of Directors approved a special cash distribution of $0.18 per share at its April 3, 2020 meeting. The cash distribution is payable on April 23, 2020 to shareholders of record as of April 16, 2020.

About EKIMAS Corporation

EKIMAS Corporation, formerly AdvanSource Biomaterials Corporation (the “Company”), sold substantially all of its assets to Mitsubishi Chemical Performance Polymers, Inc. on January 31, 2020 (the “Closing Date”). As a result, the Company ceased operating as a manufacturer and seller of advanced polymers. Subsequent to the Closing Date, the Company became engaged in efforts to identify an operating company to acquire or merge with through an equity-based exchange transaction that would likely result in a change in control. Although certain opportunities have been investigated to determine whether a potential merger opportunity could add value for the benefit of the Company’s shareholders, the Company has not yet entered into any binding arrangements.

Cautionary Note Regarding Forward-Looking Statements

Some of the statements in this release are or may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections presented or implied and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "believe," "expect," "anticipate," "project," "target," "optimistic," "intend," "aim," "will", "may" and variations and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements involve estimates, expectations and projections and, as a result, are subject to risks and uncertainties, many of which are beyond the Company’s control. Actual results could differ materially if not substantially from those described in the forward-looking statements. The foregoing listing of risks is not exhaustive. Additional risks and uncertainties are identified and discussed in the Company’s reports filed or to be filed with the SEC, including its Form 10-K for the fiscal year ended March 31, 2019 and Form 10-Q for the fiscal quarter ended December 31, 2019. The Company’s reports, as filed with the SEC, can be found at the SEC’s website at http://www.sec.gov. Forward-looking statements included in this press release speak only as of the date of this press release. The Company undertakes and assumes no obligation, and does not intend, to update the Company’s forward-looking statements, except as required by law.

 

Contacts

EKIMAS Corporation

David Volpe

508-523-3141