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 Report (Date of earliest event reported) July 7, 2003
IMP INC.
(Exact name of registrant as specified in its charter)
Delaware 0-15858 94-2722142
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State or other jurisdiction Commission IRS Employer
of incorporation File Number Identification Number
2830 North First Street, San Jose, CA 95134
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code: (408) 432-9100
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ITEM 5. OTHER EVENTS
On June 12, 2003, IMP, Inc. (the "Company") issued an aggregate of 2,135,000
shares of its common stock, representing approximately 19.5% of the Company's
issued and outstanding common stock, to certain employees of the Company in lieu
of an aggregate of $1,067,500 in cash compensation owed to such employees, and
an aggregate of 1,047,678 shares of its common stock, representing approximately
9.5% of the Company's issued and outstanding common stock, to certain vendors in
payment for products and services provided to the Company with an aggregate
value of $523,839. These issuances were approved by the Company's board of
directors on April 25, 2003. Of the 2,135,000 shares of common stock issued to
employees, 495,000 were issued to officers and directors of the Company.
On June 12, 2003, the Company issued 1,648,111 shares of its common stock,
representing approximately 13.3% of the Company's issued and outstanding common
stock to Teamasia Semiconductor, Ltd. (India) upon conversion of a convertible
debenture held by Teamasia. The convertible debenture was issued to Teamasia in
2001.
As of June 13, 2003, the Company had 12,451,914 shares of common stock
outstanding.
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.
Date: July 7, 2003
IMP INC.
By /s/ Subbarao Pinamaneni
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Subbarao Pinamaneni, CEO