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 30, 2003
Daleen Technologies, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 0-27491 65-0944514
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
902 Clint Moore Road, Suite 230, Boca Raton, Florida 33487
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (561) 999-8000
Item 5. Other Events.
On October 30, 2003, Daleen Solutions, Inc., an indirect wholly owned
subsidiary of Daleen Technologies, Inc. (the "Company"), delivered to Allegiance
Telecom Company Worldwide ("Allegiance") a Notice of Election Not to Renew the
BillingCentral Agreement between the parties under the current contractual
terms. In May 2003, Allegiance filed a petition under Chapter 11 of the U.S.
Bankruptcy Code, and on October 30, 2003, the Company received a letter from
Allegiance indicating that it believes the Notice of Election Not to Renew to be
in violation of the automatic stay under the Bankruptcy Code. Although the
Company does not believe it to be necessary, on October 31, 2003, the Company
filed a Motion of Daleen Solutions, Inc. for Relief From the Automatic Stay
Under Section 362 of the Bankruptcy Code and subsequently delivered to
Allegiance a second Notice of Election Not to Renew. The current agreement
expires on December 31, 2003, and the Company is attempting to negotiate the
terms of a new contract with Allegiance. If a new agreement between the parties
cannot be reached, it is possible that Allegiance will contest in the bankruptcy
court whether the notices of non-renewal delivered by Daleen are in violation of
the U.S. bankruptcy law. There can be no assurance that terms for a new contract
will be agreed upon or that this business relationship will continue after
December 31, 2003. If Allegiance ceases to do business with the Company and the
Company fails to obtain additional financing or fails to engage in one or more
strategic alternatives, it may have a material adverse effect on the Company's
ability to operate as a going concern.
Item 7. Financial Statements and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits
None.
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.
DALEEN TECHNOLOGIES, INC.
By: /s/ Gordon Quick
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Gordon Quick
President and Chief Executive Officer
Dated: October 31, 2003