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): June 30, 2003
PACIFIC MAGTRON INTERNATIONAL CORP.
(Exact name of registrant as specified in its charter)
Nevada
(State or other jurisdiction of incorporation)
000-25277 88-0353141
(Commission File Number) (IRS Employer Identification Number)
1600 California Circle, Milpitas, California 95035
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (408) 956-8888
Not Applicable
(Former name or former address, if changed since last report)
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On July 9, 2003, the Company issued a press release (attached hereto as Exhibit
99.1) announcing that it has entered into an agreement to dispose of
substantially all of the intangible assets and certain tangible assets of its
Lea Publishing, Inc. subsidiary.
On June 30, 2003, the Company entered into an asset purchase and sale agreement
(the "Agreement," attached hereto as Exhibit 2.1), to sell substantially all of
the intangible assets and certain tangible assets (listed in schedule 1.1 of the
Agreement) of the Company's subsidiary Lea Publishing, Inc. to LiveCSP, Inc. The
Company also entered into a Proprietary Software License and Support Agreement
(attached hereto as Exhibit 2.2) with LiveCSP, Inc. for engaging LiveCSP, Inc.
to provide certain electronic commerce support services to LiveWarehouse, Inc, a
wholly owned subsidiary of the Company. The Company received $5,000 on the
closing date and will receive the electronic commerce support services valued at
an amount not exceeding $48,000. Prior to this sale certain stockholders and
officers of LiveCSP, Inc. were employees of Lea Publishing, Inc.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit No. Exhibit Description Filed Herewith
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2.1 Asset Purchase and Sale Agreement dated as of
June 30, 2003 X
2.2 Propriety Software License and Support Agreement X
99.1 Press Release X
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.
Dated: July 14, 2003 PACIFIC MAGTRON INTERNATIONAL CORP.
/s/ Theodore S. Li
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Theodore S. Li
Chairman of the Board and President
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