UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 27, 2004
Sono-Tek Corporation
(Exact name of registrant as specified in its charter)
Commission File Number: 0-16035
New York 14-1568099
(State of Incorporation) (I.R.S. Employer ID No.)
2012 Route 9W, Milton, New York 12547
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (845) 795-2020
Item 5. Other Events.
During February 2004, the Company and several of its creditors reached
agreements to convert their outstanding debt to common shares of the Company. A
total of $248,571.95 of debt was repaid and 578,035 shares of common stock was
issued. Included in this total was $123,826.64 of indebtedness owed to the
Chairman of the Company, who was issued 294,825 shares of common stock.
Additionally, during January and February 2004, agreements were reached with two
of the Company's creditors wherein common stock purchase warrants for 600,000
shares were exercised, and the proceeds from the exercises were used to repay
$180,000 of additional indebtedness held by those creditors. In connection with
the foregoing the Chairman of the Company exercised common stock purchase
warrants for 300,000 shares and agreed to reduce his indebtedness by $90,000.00.
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.
SONO-TEK CORPORATION
By: /s/ Christopher L. Coccio
Christopher L. Coccio
Chief Executive Officer
March 1, 2004