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): August
23, 2006
ClearOne
Communications, Inc.
(Exact
Name of Registrant as Specified in Its Charter)
Utah
(State
or
Other Jurisdiction of Incorporation)
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000-17219
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87-0398877
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(Commission
File Number)
|
|
(I.R.S.
employer
identification
number)
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1825
Research Way, Salt Lake City, Utah
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84119
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(Address
of principal executive offices)
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(Zip
Code)
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(801)
975-7200
(Registrant’s
Telephone Number, Including Area Code)
Not
applicable
(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:
[
]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[
]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[
]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act
(17
CFR 240.14d-2(b))
[
]
Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange
Act
(17
CFR 240.13e-4(c))
Item
1.01 Entry into a Material Definitive Agreement.
On
August
23, 2006, ClearOne Communications, Inc. (the “Company”) entered into an Asset
Purchase Agreement with Ken-A-Vision Manufacturing Company, Inc. (“KAV”), a
privately held manufacturer of camera solutions for education, audio visual,
research, and manufacturing applications, to sell inventory, equipment, tools,
and certain intellectual property pertaining to its document and education
camera product line, for approximately $700,000. KAV also agreed to assume
certain warranty obligations with respect to historical Company camera product
sales. The purchase price is subject to adjustment based upon the quantities
of
a mix of finished good inventory, as defined in the agreement, to be
delivered to KAV. The sale is anticipated to close on August 30,
2006.
The
foregoing summary is qualified in its entirety by reference to the Asset
Purchase Agreement.
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.
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CLEARONE
COMMUNICATIONS, INC.
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Date:
August 29, 2006
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By:
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/s/
Zeynep Hakimoglu
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Zeynep
Hakimoglu
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President
and Chief Executive Officer
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