SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
April 1, 2003
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Date of Report (Date of earliest event reported)
NANOPIERCE TECHNOLOGIES, INC.
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(Exact name of Registrant as specified in its charter)
Nevada 84-0992908 33-19598-D
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification Number)
370 17th Street, Suite 3640
Denver, Colorado 80202
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(Address of principal executive offices) (Zip Code)
(303) 592-1010
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(Registrant's telephone number, including area code)
ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE
On April 1, 2003, NanoPierce Card Technologies, GmbH ("NanoPierce Card"), a
wholly owned subsidiary of NanoPierce Technologies, Inc. ("the Registrant"),
filed insolvency with the Courts of Munich, Germany. The insolvency filing
became necessary in order to comply with specific German legal requirements.
The Registrant owns 100% of the issued and outstanding equity of NanoPierce
Card. Further, the Registrant holds a note receivable from NanoPierce Card, for
approximately $166,199, including interest at December 31, 2002.
In addition, to the receivership of NanoPierce Card, management of the
Registrant has implemented additional financial restructuring in its remaining
subsidiaries. Such financial restructuring includes, but is not limited to
termination of employees, salary reductions and other cuts in fixed costs.
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: April 1, 2003 NANOPIERCE TECHNOLOGIES, INC.
/s/ Paul H. Metzinger
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Paul H. Metzinger, President &
Chief Executive Officer