SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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) January 9, 2004
ULTRADATA SYSTEMS, INCORPORATED
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(Exact name of Registrant as Specified in its Charter)
Delaware 0-25380 43-1401158
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(State of Incorporation) (Commission File (IRS Employer
Number) Identification No.)
1240 Dielmann Industrial Court, St. Louis, MO 63132
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(Address of principal executive offices)
(314) 997-2250
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Registrant's Telephone Number
Item 9. Regulation FD Disclosure
Item 12. Results of Operations and Financial Condition
On January 9, 2004 Ultradata issued a press release containing material
non-public information concerning Ultradata's results of operations for the
recently completed quarter and fiscal year.
EXHIBITS
99. Press release dated January 9, 2004.
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.
ULTRADATA SYSTEMS, INCORPORATED
Dated: January 9, 2004 By: /s/ Monte Ross
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Monte Ross
Chief Executive Officer
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EXHIBIT 99
FOR IMMEDIATE RELEASE
FOR THE COMPANY:
Ernest Clarke
President
(314) 997-2250
eclarke@ultradatasystems.com
Ultradata Sales Surge onTalking Road Navigator Success;
Increased Cash Flow Permits Prepayment of Convertible Debt.
St. Louis, Missouri, January 9, 2004 Ultradata Systems, Inc. (OTC Bulletin
Board:ULTR.OB) announced today that it has retired in full its outstanding
Senior Convertible Notes. The Company prepaid nearly $300,000 within the past
month in order to eliminate these securities. As a result, there are now
outstanding no notes, derivatives or other securities convertible into
Ultradata common stock, other than incentive stock options held by employees.
Monte Ross, Ultradata's CEO, explained: "We retired the convertible notes as
soon as we had available cash. The conversion feature of the notes has been a
burden on the market for our common stock, and we are happy it is now
eliminated.
Ultradata's financial ability to prepay the notes was largely due to a surge
in fourth quarter sales. The Company recently introduced a new product, the
"Talking Road Navigator," and a major distributor was successful in marketing
the product through television advertising. Management expects to report
fourth quarter sales in excess of $1.7 million and annual sales for 2003 in
excess of $2.8 million. In 2002, Ultradata recorded fourth quarter sales of
$313,031 and annual sales of $1,741,556.
Mr. Ross noted: "It is clear there is public acceptance of our new Talking
Road Navigator. Even after a successful holiday selling season, we begin 2004
with a backlog of over $640,000 for this product alone. The talking feature
makes the product more useful and yet easier to use than its predecessors.
The continuing success of this product should enable Ultradata to be
profitable in 2004.
Ultradata Systems, Inc. is a leader in the field of hand-held electronic
information systems. Based in St. Louis, MO, Ultradata Systems develops,
manufactures and markets hand-held travel information computers, global
positioning system (GPS) products and information systems used for locating
destinations and trip planning. The company's lead product, the handheld
electronic travel information guide, has sold more than three million units
and is marketed through chain drug, mass and consumer electronic retail
chains, home centers, the automotive aftermarket, cable TV direct marketers,
premium incentive catalogs and other channels. These computers use
Ultradata's patented data compression technology and proprietary database to
provide directions to thousands of destinations and services along highways
and in major metropolitan areas.
This press release contains forward-looking statements within the meaning of
applicable Federal securities laws. The Company undertakes no obligation to
publicly update or revise any forward-looking statements, whether as a result
of new information, future events, or other changes. Readers are cautioned
not to place undue reliance on these forward-looking statements.
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