form8k.htm
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: July 27, 2007
APA
ENTERPRISES, INC.
(Exact
name of registrant as specified in its charter)
Minnesota
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0-16106
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41-1347235
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(State
of other jurisdiction of
incorporation)
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(Commission
File No.)
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(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 (17
CFR
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
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Completion
of Acquisition or Disposition of
Assets
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On
July
24, 2007, our Board of Directors adopted the recommendations of management
and
voted to terminate the Optronics business segment. The Board resolution
authorizes the liquidation of all assets associated within this segment. The
Optronics segment was based on the ultraviolet (UV) detection and measurement
devices developed from the Company’s GaN technology. The loss on disposition of
assets and inventory and closure of operations is estimated to be $436,000.
Liquidation of this business segment does not involve a “significant” amount of
assets, as that term is defined in Instruction 4 to Item 2.-01 of Form
8-K.
Item
5.03
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Amendments
to Articles of Incorporation or Bylaws: Change in Fiscal
Year
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On
July
24,, 2007, the
Board of Directors of the Company approved a change in the fiscal year end
of
the Company from March 31 to September 30. The Company intends to file a
transitional report on Form-10KSB for transitional period ending September
30,
2007. The first complete new fiscal year will be the period from October 1,
2007
through September 30, 2008.
Item
9.01 Financial Statements and Exhibits
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 26, 2007
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APA
ENTERPRISES, INC. |
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/s/ Cheryl Beranek Podzimek |
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Cheryl
Beranek Podzimek, Chief Executive Officer (Principal Executive Officer)
and authorized signatory |
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