As filed with the Securities and Exchange Commission on October 5, 1995
Registration No. 33-
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
Under
The Securities Act of 1933
COMARCO, INC.
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(Exact name of registrant as specified in its charter)
California 95-2088894
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State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
22800 Savi Ranch Parkway, Suite 214
Yorba Linda, California 92808
(714) 282-3832
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(Address, including zip code, and telephone number,
including area code, of registrant's
principal executive offices)
1995 EMPLOYEE STOCK OPTION PLAN
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(Full title of the plan)
Thomas P. Baird
Chief Financial Officer
COMARCO, INC.
22800 Savi Ranch Parkway, Suite 214
Yorba Linda, California 92808
(714) 282-3832
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(Name, address, including zip code, and telephone number,
including area code, of agent for service)
Copies to:
Roger H. Lustberg, Esq.
Riordan & McKinzie
300 South Grand Avenue, 29th Floor
Los Angeles, California 90071
CALCULATION OF REGISTRATION FEE
Title of each Proposed Proposed
class of Amount Maximum Maximum Amount of
securities to to be Offering Price Aggregate Registration
be registered registered Per Share(1) Offering Price(1) Fee
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Common Stock 350,000 $11.00 $3,850,000 $1,327.59
(1) Estimated solely for the purpose of calculating the registration fee
pursuant to Rule 457, based on the average of the high and low sales prices on
October 3, 1995.
II-5
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents which have been filed by the Company with the
Commission, as noted below, are incorporated by reference into this Registration
Statement:
(1) The Annual Report of the Company on Form 10-K for the fiscal year
ended January 31, 1995 as filed with the Commission on April 28, 1995;
(2) The Quarterly Report of the Company on Form 10-Q for the quarter ended
April 30, 1995 as filed with the Commission on June 14, 1995;
(3) The Quarterly Report of the Company on Form 10-Q for the quarter ended
July 30, 1995 as filed with the Commission on September 13, 1995; and
(4) Description of the Company's Common Stock contained in Exhibit 3.1 of
Amendment No. 1 to the Quarterly Report of the Company on Form 10-Q
for the quarter ended July 31, 1988, as filed with the Commission on
November 23, 1988.
All documents filed by the Company pursuant to Sections 13(a), 13(c), 14 or
15(d) of the Exchange Act, and prior to the filing of a post-effective amendment
to the Registration Statement that indicates that all securities offered hereby
have been sold or that deregisters all such securities remaining unsold, shall
be deemed to be incorporated by reference herein and to be a part hereof from
the date of filing such documents. Any statement contained herein or in any
document incorporated or deemed to be incorporated by reference herein shall be
deemed to be modified or superseded for purposes of this Prospectus to the
extent that a statement contained herein or in any other subsequently filed
document which also is or is deemed to be incorporated by reference herein
modifies or supersedes such statement. Any such statement so modified or
superseded shall not be deemed to constitute a part of this Prospectus, except
as so modified or superseded.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
The validity of the shares of Common Stock offered hereby has been passed upon
for the Company by Riordan & McKinzie, a Professional Law Corporation, Los
Angeles, California.
Item 6. Indemnification of Directors and Officers.
The Company is a California corporation. The Company's Articles of
Incorporation and Bylaws provide for the indemnification of the officers and
directors of the Company to the full extent permitted by law. Section 317 of the
General Corporation Law of the State of California ("GCL") provides that a
California corporation has the power to indemnify its officers and directors in
certain circumstances.
Subdivision (b) of Section 317 of the GCL empowers a corporation to indemnify
any director or officer, or former director or officer, who was or is a party or
is threatened to be made a party to any proceeding (other than an action by or
in the right of the corporation to procure a judgment in its favor), against
expenses, judgments, fines, settlements, and other amounts actually and
reasonably incurred in connection with the proceeding if such director or
officer acted in good faith and in a manner reasonably believed to be in the
best interests of the corporation and, in the case of a criminal proceeding, had
no reasonable cause to believe the conduct of such director or officer was
unlawful.
Subdivision (c) of Section 317 of the GCL empowers a corporation to indemnify
any director or officer, or former director or officer, who was or is a party or
is threatened to be made a party to any threatened, pending, or completed action
by or in the right of the corporation to procure a judgment in its favor,
against expenses actually and reasonably incurred by such director or officer in
connection with the defense or settlement of the action if such director or
officer acted in good faith, in a manner believed to be in the best interests of
the corporation and its shareholders, except that no indemnification may be made
in respect of any claim, issue or matter as to which such director or officer
shall have been adjudged to be liable to the corporation in the performance of
such director's or officer's duty to the corporation and its shareholders,
unless and only to the extent that the court in which the proceeding is or was
pending shall determine upon application that, in view of all the circumstances
of the case, such director or officer is fairly and reasonably entitled to
indemnity for expenses and then only to the extent that the court shall
determine or of settlement amounts and expenses paid in connection with pending
actions disposed of without court approval. Indemnification under Section 317
may only be made in a specific case upon a determination that the director or
officer has met the applicable standard of conduct.
Section 317 further provides that to the extent a director or officer of the
corporation has been successful in the defense of any proceeding referred to in
subdivision (b) or (c) or in the defense of any claim, issue, or matter therein,
such director or officer shall be indemnified against expenses actually and
reasonably incurred by him in connection therewith; that indemnification
provided for by Section 317 shall not be deemed exclusive of any additional
rights to which the indemnified party may be entitled; and that the corporation
shall have power to purchase and maintain insurance on behalf of a director or
officer of the corporation against any liability asserted against or incurred by
such director or officer in such capacity or arising out of his status as such
whether or not the corporation would have the power to indemnify him against
that liability under Section 317.
The Company's Articles of Incorporation currently provide that the liability
of the director for monetary damages shall be eliminated to the fullest extent
permissible under California law. The Company's Bylaws provide for
indemnification of the officers and directors of the Company to the maximum
extent permitted by law. Subdivision (a)(10) of Section 204 of the GCL, provides
that such exculpation from liability may not be afforded (i) for acts or
omissions that involve intentional misconduct or a knowing and culpable
violation of law, (ii) for acts or omissions that a director believes to be
contrary to the best interests of the corporation or its shareholders or that
involve the absence of good faith on the part of the director, (iii) for any
transaction from which a director derived an improper personal benefit, (iv) for
acts or omissions that show a reckless disregard for the director's duty to the
corporation or its shareholders in circumstances in which the director was
aware, or should have been aware, of a risk of serious injury to the corporation
or its shareholders, (v) for acts or omissions that constitute an unexcused
pattern of inattention that amounts to an abdication of such director's duty to
the corporation or its shareholders, (vi) under Section 310 of the GCL or (vii)
under Section 316 of the GCL.
Item 7. Exemptions from Registration Claimed.
Not applicable.
Item 8. Exhibits.
4.1 Comarco, Inc. 1995 Employee Stock Option Plan.
5.1 Opinion of Riordan & McKinzie as to the legality of the Common Stock
registered hereby.
23.1 Consent of Riordan & McKinzie - contained in the opinion filed as
Exhibit 5.1.
23.2 Consent of KPMG Peat Marwick LLP.
24.1 Power of Attorney (included on Page II-5 hereto).
Item 9. Undertakings.
The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a
post effective amendment to this registration statement:
(i) To include any prospectus required by section 10(a)(3) of the
Securities Act of 1933;
(ii) To reflect in the prospectus any facts or events arising after the
effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set forth
in the registration statement;
(iii) To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or
any material change to such information in the registration statement;
Provided however, that paragraphs (i) and (ii) above do not apply if the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed by the registrant pursuant to
Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are
incorporated by reference in the registration statement.
(2) That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed to be
a new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of the
offering.
(4) That, for purposes of determining any liability under the Securities Act
of 1933, each filing of the registrant's annual report pursuant to Section 13(a)
or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable,
each filing of an employee benefit plan's annual report pursuant to Section
15(d) of the Securities Exchange Act of 1934) that is incorporated by reference
in the registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.
Insofar as indemnification for liabilities under the Securities Act of 1933
may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Act and will be governed by the final adjudication of
such issue.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Company
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this registration
statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Las Vegas, State of Nevada, on this 27th day of
September, 1995.
Comarco, Inc.
By: /s/ Don M. Bailey
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Don M. Bailey
President and Chief Executive Officer
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature
appears below constitutes and appoints Don M. Bailey his true and lawful
attorney-in-fact and agent with full power of substitution and resubstitution,
for him and in his name, place and stead, in any and all capacities, to sign any
and all amendments to this Registration Statement, and to file the same, with
all exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission, granting unto said attorney-in-fact and
agent full power and authority to do and perform each and every act and thing
requisite or necessary to be done in and about the premises, as fully to all
intents and purposes as he might or could do in person, hereby ratifying and
confirming all that said attorney-in-fact and agent, or his substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.
Signature Title Date
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/s/ Don M. Bailey President, Chief Executive September 26, 1995
- --------------------------- Officer and Director
Don M. Bailey
/s/ Gen. Wilbur L. Creech Director September 26, 1995
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Gen. Wilbur L. Creech
/s/ Gerald D. Griffin Director September 26, 1995
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Gerald D. Griffin
/s/ Adm. Wesley L. McDonald Director September 26. 1995
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Adm. Wesley L. McDonald
/s/ Walter V. Sterling Director September 26, 1995
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Walter V. Sterling
/s/ Paul G. Yovovich Director September 26, 1995
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Paul G. Yovovich
70693.1