UNITED
STATES
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
Date
of
report (Date of earliest event reported) June
2, 2006
|
Mitek
Systems, Inc.
|
|
|
(Exact
Name of Registrant as Specified in Its Charter)
|
|
|
Delaware
|
|
|
(State
or Other Jurisdiction of
Incorporation)
|
|
|
0-15235
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87-0418827
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|
(Commission
File Number)
|
(IRS
Employer Identification No.)
|
|
8911
Balboa Ave, Suite B, San Diego, California
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92123
|
|
(Address
of Principal Executive Offices)
|
(Zip
Code)
|
|
(858)
503-7810
|
|
|
(Registrant’s
Telephone Number, Including Area Code)
|
|
|
(Former
Name or Former Address, if Changed Since Last
Report)
|
|
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 (see
General
Instruction A.2. below):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
1
Item
8.01 Other
Events.
Effective
June 7, 2006, we issued 257,597 shares of our common stock at the conversion
price of $.70 per share to Laurus Master Fund, Ltd. (“Laurus”) in connection
with the payment of $180,318.19 of the principal related to a secured
convertible term note of $3,000,000, issued to Laurus in June 2004. This was
the
final payoff of the principal on the Laurus note.
Item
9.01 Financial
Statements and Exhibits.
(c) Exhibits
Exhibit
99.1 Press Release of the Company dated
May 7, 2006, regarding the payoff of the Laurus Master Fund,
Ltd.Note.
2
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.
| MITEK SYSTEMS, INC. | ||
| |
|
|
| Date: May 7, 2006 | By: | /s/ Tesfaye Hailemichael |
|
Tesfaye Hailemichael |
||
| Chief Financial Officer | ||
3
PRESS
RELEASE
Media
Contact:
Tesfaye
Hailemichael
Chief
Financial Officer
Mitek
Systems, Inc.
858-503-7810,
extension 327
thailemichael@
miteksystems.com
Mitek
Pays Off Remainder of $3M Secured Convertible Debt from
Laurus
Master Fund
SAN
DIEGO, Calif., June 7, 2006 — Mitek Systems, Inc. (OTCBB:
MITK;
www.miteksystems.com),
a
leading provider of image analytics and intelligent character recognition
software,
is
pleased to announce that it has completed the payoff of its $3 million secured
convertible note held by Laurus Master Fund, Ltd. through a conversion to common
stock of the remaining balance of principal equal to $180,318.19, which was
converted into 257,597 shares of common stock. The note was issued in June
2004,
and has been paid off through a combination of cash and conversion into
equity.
“The
cash
helped address the company’s short term objectives, however, removing this
obligation from our balance sheet swiftly was always our objective”, says
Tesfaye Hailemichael Chief Financial Officer. “We are pleased that the company
has been able to accomplish this sooner than initially expected.”
About
Mitek Systems
Mitek
Systems (OTCBB: MITK; www.miteksystems.com) is a global leader in Image
Analytics used by financial institutions and other industries to detect fraud
and improve customer service. The Company also develops and markets the most
comprehensive suite of intelligent character recognition software used to test,
clean, read and authenticate imaged documents. Sold to partners and directly
to
end users, the Company’s software is used in the processing of over 8 billion
transactions per year. For more information about Mitek Systems, contact the
company at 8911 Balboa Ave., Suite B, San Diego, CA 92123; 858-503-7810 or
visit
www.miteksystems.com.