APA Enterprises 8-K 3-10-2006
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
Event Reported: March 10, 2006
APA
ENTERPRISES, INC.
(Exact
name of registrant as specified in its charter)
Minnesota
(State
of other jurisdiction of
incorporation)
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0-16106
(Commission
File No.)
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41-1347235
(IRS
Employer Identification Number)
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2950
NE 84th
Lane, Blaine, MN 55449
(Address
of principal executive offices) (Zip Code)
Registrant’s
telephone number, including area code: (763)
784-4995
(Former
name, former address and former fiscal year, if changed since last report):
N/A
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:
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425).
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12).
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR
240.14d-2(b)).
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c)).
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Item
2.01. Completion of Acquisition or Disposition of Assets
Effective
March 10, 2006, APA Enterprises, Inc. sold certain equipment and related
intellectual property to an unrelated third party for total consideration of
$1.9 million in cash and a license back of the technology within a specified
field of use. The asset purchase agreement includes an additional consulting
agreement for up to $100,000 over the course of one year. The transaction is
more fully described in the press release included as an exhibit to this
report.
Exhibit
No.
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Description
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Asset
Purchase Agreement
*
Certain schedules and exhibits have been omitted, but will be provided
to
the commission upon request.
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Patent
and Technology and Revenue Sharing License Agreement
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Press
Release
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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:
March 15, 2006
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APA
ENTERPRISES, INC.
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By
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/s/
Anil K. Jain
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Anil
K. Jain, Chief Executive and Chief Financial Officer (Principal Executive
and Principal Financial Officer) and authorized
signatory
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3