U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-KSB

(Mark One)

		[X]	ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE

			SECURITIES EXCHANGE ACT OF 1934 [Fee Required]

					For the fiscal year ended July 31, 2000

 

	[  ]	TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE

		SECURITIES EXCHANGE ACT OF 1934 [No Fee Required]

					For the transition period from    to

Commission file number:  0-8289

The Rovac Corporation

(Name of small business issuer in its charter)

Delaware                                                 59-1461320

(State or other jurisdiction of                      (I.R.S. Employer

incorporation or organization)                     Identification No.)

1030 Stafford Street, Rochdale MA 01542

(Address of principal executive offices)

Issuer's telephone number:  (508) 892-1121

Securities registered pursuant to Section 12(b) of the Act:  None

Securities registered pursuant to Section 12 (g) of the Act:

Common Stock, par value $0.01 per share

(Title of class)

 

Check whether the issuer (1) filed all reports required to be for such shorter period that the Registrant wasrequired to file reports, and (2) been subject to such filing requirement for the past 90 days.

Yes_____No__X__

Check if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-B is notcontained in this form, and no disclosure will be contained, to the best of the registrant's knowledge, indefinitive proxy or information statements incorporated by reference in Part III of this Form 10-KSB or anyamendment to this Form 10-KSB.  [ X ]

State issuer's revenues for its most recent fiscal year:  $63,941

The aggregate market value of the voting stock held by non-affiliates computed by reference to the price atwhich the stock was sold within the past 60 days was $1,147,775 as of October 27, 2000.

(APPLICABLE ONLY TO CORPORATE REGISTRANTS)

The number of shares outstanding of each of the issuer's classes of common equity, as of the latestpracticable date, October 27, 2000, was 39,958,073 shares of Common Stock, $0.01 par value.

DOCUMENTS INCORPORATED BY REFERENCE

If the following documents are incorporated by reference, briefly describe them and identify the part of theForm 10-KSB into which the document is incorporated:  (1) any annual report to security holders; (2) anyproxy of information statement; and (3) any prospectus filed pursuant to Rule 424 (b) or (c) of theSecurities Act of 1933 ("Securities Act").  NONE.

PART I

Item 1.	Description of Business.

	(a)	General Development of Business

	The ROVAC Corporation ("the Company") is a Delaware corporation, which was organized in1972 and has been involved in the research and development of a variety of mechanical devices.  Duringthe last fiscal year, the Company continued manufacturing and selling key components of itsthermoplastic pipe connecting technology.  The Company's patented CinchLockâpipe connectors consist of mechanical connecting devices, which join pipes and joints of assorted size and shapes without glue or solder to permitthe flow of fluid or air under different operating conditions and pressures.  The Company has only one business segment.

	(b)	Business of Issuer

	During the fiscal year ending July 31, 2000, the Company completed its negotiations with NIBCOresulting in an exclusive worldwide thermoplastic sales agreement effective May 1, 2000.  During the fiscalyear, the Company continued to manufacture and sell product to NIBCO.  NIBCO is currently finalizingplans to introduce additional thermoplastic product lines into the marketplace during the first six months ofthe calendar year 2001.  As a result of the NIBCO worldwide thermoplastic exclusive agreement, allongoing negotiations in Europe were terminated.

	At the end of the fiscal year, The ROVAC Corporation had 2 employees who worked full time, afull time consultant and two part-time employees.  The Company uses part-time employees on an as neededbasis for manufacturing.  The Company has numerous domestic and foreign patents issued as well asa number of other patent applications pending for its CinchLockâpipe connecting technology.  During the fiscal year, the Company received notice from the Mexican Patent Office that its CinchLockâpatent application has been granted. The Company has a number of patents both pending and granted which coverthe Company's technology.

	Research and Development expenses for the years ended July 31, 2000 and July 31, 1999 were$19,971 and $21,726, respectively - a decrease of $1,755.  This decrease reflects no significant change inthe Company's Research and Development.

 

Item 2.	Description of Property.

	The Company's product development facilities and administrative offices are located in Rochdale,Massachusetts and occupy approximately 6,520 square feet.  ROVAC rents the space, which it occupiesfrom its controlling shareholder, Stafford Industries, Inc., ("Stafford").  The lease expires on July 31, 2002.

 

Item 3.	Legal Proceedings.

	There are no pending or threatened legal proceedings against the Registrant.

 

Item 4.	Submission of Matters to a Vote of Security Holders

	None.

 

 

 

 

 

 

PART II

Item 5.	Market for Common Equity and Related Stockholder Matters

Common Stock

	The Company has authorized 40,000,000 shares of Common Stock ($0.01 par value per share), ofwhich 39,958,073 shares of Common Stock were reported issued and outstanding as of July 31, 2000.  Inaddition, there are 25,000 shares of Common Stock issuable as of July 31, 2000.  All of the issuable shareswill have restrictions against transfer pursuant to Regulation D and/or will be exempt from registrationunder the Securities Act of 1933, as amended.

Market for Common Stock

	

	The Company's Common Stock has been traded in the over-the-counter market since 1974, and ispresently listed in the "pink sheets" by approximately ten (10) broker-dealers.  The following is the rangeof low and high bid prices for a share of the Company's stock for quarters ended: