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): October 17, 2002
INFINITE GROUP, INC.
(Exact name of Registrant as specified in its charter)
DELAWARE 0-21816 52-1490422
(State or other jurisdiction of Commission File (IRS Employer
incorporation) Number) Identification No.)
2364 Post Road, Warwick, RI 02886
(Address of principal executive office) (Zip Code)
(401) 738-5777
Registrant's telephone number, including area code
N/A
(Former name or former address, if changed since last report)
Item 5. Other Events.
On October 17, 2002 the Registrant issued the following press release:
"Infinite Group, Inc. Announces Management Changes
Warwick, Rhode Island, October 17, 2002 - Infinite Group Inc. (Nasdaq: IMCI),
today announced management changes affecting various functions across the
organization. The Company announced that David Johnson has assumed the position
of Managing Director, Infinite Group. Mr. Johnson's background includes ten
years in management and marketing positions at American Power Conversion
(Nasdaq: APCC). Mr. Johnson also spent two years as a consultant to early stage
technology companies.
The Company also announced that Steven Brogno has joined Infinite Group as
Corporate Controller. Mr. Brogno's background includes eleven years as
Divisional Controller and Director of Accounting Operations at American Power
Conversion. Mr. Brogno holds an MBA from Boston College.
Additionally, Sean McEllin has joined Infinite Group as Director of Corporate
Investments. In this role, Mr. McEllin will direct the Company's investment
strategies with respect to capital expenditures, as well as merger & acquisition
strategies. Mr. McEllin's background includes four years with Newport Capital
Partners, Incorporated where he was responsible for conducting due diligence
activities for European clients. Mr. McEllin also spent three years as a
financial consultant with Idea Capital Solutions, Incorporated.
Furthermore, the company announced that Chris Di Napoli has accepted the role of
Director, Business Development for Infinite Group, Inc. In this role, Mr. Di
Napoli will be responsible for commercialization of the Infinite Photonics
Grating Coupled Surface Emitting Laser (GCSELTM) diode technology. Prior to
Infinite Group, Mr. Di Napoli spent two years as a business consultant and eight
years in business development and management positions at American Power
Conversion.
The Company further announced that Jeff Bullington, President of its Infinite
Photonics subsidiary, has resigned his position with the Company. Infinite Group
has commenced a search to find a successor to manage the overall operations at
Infinite Photonics.
Additionally, the Company announced that it has determined not to renew its
employment contract with Bruce Garreau, its Chief Financial Officer. Mr.
Garreau's contract ended September 30, 2002. The Company has undertaken a search
to fill the Chief Financial Officer position.
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"With these changes to our management team, we are taking the next steps in our
efforts to build the team needed to best position the company for current needs
and future opportunities.", said Clifford G. Brockmyre, CEO of Infinite Group.
"These changes support our ever sharpening focus on maximizing results from both
our core competencies and evolving technologies. We are extremely fortunate to
recruit these additions to our senior staff".
Infinite Photonics, Inc. develops and markets laser diodes based on its
proprietary patented and patent pending IP GCSEL(tm) technology platform. IP
GCSEL(tm) product applications include high power pump lasers used for EDFA and
Raman amplification, tunable lasers used in optical transmitters and receivers
for telecommunications, material processing and medical applications.
Infinite Group is a provider of laser material processing, advanced
manufacturing methods, and laser and photonic technology."
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SIGNATURE
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.
INFINITE GROUP, INC.
Date: October 17, 2002 By: /s/Clifford G. Brockmyre II
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Clifford G. Brockmyre II
President
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