FORM 8-K

 

AMENDMENT TO CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange of 1934

 

Date of Report (Date of Earliest Event Reported): March 14, 2006

 

TELEVIDEO, INC.

(Exact Name of Registrant as Specified in its Charter)

 

Delaware

 

000-11552

 

94-2383795

(State or Other Jurisdiction of
Incorporation)

 

(Commission File No.)

 

(IRS. Employer Identification No.)

 

 

 

 

 

2345 Harris Way, San Jose, California 95131

(Address of Principal Executive Office) (Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (408) 954-8333

 

Not Applicable

(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:

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 



 

Item 1.03                                             Bankruptcy or Receivership

 

On March 14, 2006, TeleVideo, Inc. (“TeleVideo” or the “Company”) filed a voluntary petition for reorganization under Chapter 11 of the United States Bankruptcy Code (the “Code”) in the United States Bankruptcy Court for the District of Delaware (the “Court”). The Company will continue to operate its business as a “debtor-in-possession” under the jurisdiction of the Court and in accordance with the applicable provisions of the Code and orders of the Court.

 

On March 15, 2006, the Company issued a press release that announced this event. A copy of that press release is attached hereto as Exhibit 99.1.

 

Item 5.02                                             Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers

 

Richard I. Kim, the Acting Chief Accounting Officer of the Company, resigned as an officer and employee of the Company on March 14, 2006.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit Number

 

Description

 

 

 

99.1

 

Press release of TeleVideo, Inc. dated March 15, 2006

 

 

 

99.2

 

Notice of resignation dated March 14, 2006 from Richard I. Kim, Vice President and Secretary TeleVideo, Inc. to Dr. K. Philip Hwang Chief Executive Officer of TeleVideo, Inc.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

Date: March 15, 2006

TELEVIDEO, INC.

 

 

 

 

 

By:

/s/  K. Philip Hwang

 

 

Name:   K. Philip Hwang

 

Title:    Chief Executive Officer

 

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EXHIBITS INDEX

 

Exhibit Number

 

Description

99.1

 

Press release of TeleVideo, Inc. dated March 15, 2006

 

 

 

99.2

 

Notice of resignation dated March 14, 2006 from Richard I. Kim, Vice President and Secretary TeleVideo, Inc. to Dr. K. Philip Hwang Chief Executive Officer of TeleVideo, Inc.

 

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Exhibit 99.1

 

 

2345 Harris Way

 

San Jose, CA, USA

 

Tel: 408-954-8333     Fax: 408-954-0623

 

 

TELEVIDEO FILES VOLUNTARY CHAPTER 11 BUSINESS REORGANIZATION CASE

 

San Jose, CA - March 14, 2006 - TeleVideo, Inc. (OTC BB:TELV.PK), announced that it filed a voluntary petition for business reorganization under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. TeleVideo’s management will continue to operate its business as a debtor-in-possession.

 

During this reorganization, Televideo will continue to provide service to its customers, and its products will still be available through the existing channels of Televideo authorized distributors and resellers. “We want to assure all of our customers that this reorganization in no way changes our day-to-day operations. We have sufficient product available to meet our customers’ existing and anticipated future requirements,” said Carmino Rosa, Chief Operating Officer of TeleVideo, Inc. “We look forward to continuing to support our customers with our high quality products and service.”

 

About Televideo.

 

A pioneering Silicon Valley company, TeleVideo, Inc. began in 1975 as the innovator and market leader of smart text terminals. TeleVideo established itself as a leading supplier in the video display terminal industry. The Company pioneered a new generation of computer terminals with the introduction of its first “smart” terminals, based on the Intel microprocessor, at a time when dumb terminals were the industry standard. Televideo still holds a number of proprietary terminal emulations, including the TV910 and TV955, which have been industry standards for more than 15 years and even now are used in millions of terminals worldwide.

 

TeleVideo markets its products worldwide primarily through distributors, value-added resellers, systems integrators, and original equipment manufacturers. Designed for corporate and vertical IT professionals and end users, TeleVideo’s family of products allows for more secure, manageable and cost-effective network computing in healthcare, business, government and more. For more information, please visit www.televideo.com .

 


Exhibit 99.2

 

RICHARD I. KIM
23291 Partridge Lane
Los Altos Hills, California 94024

 

 

March 14, 2006

 

Dr. K. Philip Hwang
Chief Executive Officer
Televideo, Inc.
2345 Harris Way
San Jose, CA 95131

 

 

Dear Dr. Hwang,

 

As we have discussed, I hereby tender my resignation as an employee and officer of Televideo, Inc. effective immediately. It has been a pleasure to serve you and the Company for the past several years. My best wishes for future successes to you and the company.

 

 

Sincerely yours,

 

/s/ Richard I. Kim

 

Richard I. Kim

 

 

cc: Carmino Rosa