content: 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:  November 29, 1999
  
  
  
                               PREMIS CORPORATION
              (Exact name of registrant as specified in its charter)
  
                      Commission File No.    0-12196
  
             Minnesota                                   41-1424202
  (State or other jurisdiction of incorporation) (IRS Employer Identification
  No.)
  
  
  
                 13220 County Road 6, Plymouth, Minnesota  55441
             (Address of principal executive offices)        (Zip Code)
  
  
                              (612) 550-1999
                     (Registrant's telephone number)
  
  
                              Not Applicable
  (Former name,former address and former fiscal year,if changed since last
  report)
  
  
  
  
  
  
  
  Item 2.        Acquisition or Disposition of Assets
  
          On November 17, 1999, pursuant to a stock purchase agreement entered
  into on April 20, 1999 (as amended), Premis Corporation ("Premis" or the
  "Company") sold all of the issued and outstanding capital stock of its
  wholly-owned subsidiary, Premis Systems Canada Incorporated ("PSC"), a Nova
  Scotia corporation, to ACA Group Canada Inc., a Nova Scotia corporation.  The
  purchase price for the capital stock of PSC was $1,000,000 in cash and the
  assumption of $1,607,045 in liabilities of Premis.
  
  
  Item 7.        Financial Statements and Exhibits
  
      (a)        Not Applicable.
  
      (b)        Pro forma financial information filed as part of this report:
  
  On November 17, 1999, the Company completed the sale of PSC.  PSC was primarily
  engaged in the development and marketing of a proprietary software product
  known as OpenEnterprise.
  
  The following unaudited pro forma consolidated income statements reflect the
  pro forma results of the Company as if the transaction had been completed on
  April 1, 1998.  These statements should be read in conjunction with the
  unaudited consolidated financial statements and notes thereto included in the
  Company's Quarterly Report on Form 10-QSB for the period ended September 30,
  1999 and the audited consolidated financial statements and notes thereto
  included in the Company's Annual Report on Form 10-KSB for the year ended March
  31, 1999.  The pro forma information may not be indicative of what the
  financial condition or results of operations of the Company would have been had
  the sale been completed on the dates assumed, nor is such information
  necessarily indicative of the future financial condition of the Company.
  
  
  
  
  
                     PREMIS CORPORATION AND SUBSIDIARIES
  
                   PRO FORMA CONSOLIDATED INCOME STATEMENT
  
                     Six Months Ended September 30, 1999
  
                                (Unaudited)
                    (in thousands, except per share data)
  
                                   Six Months Ending         Six Months Ending
                                   September 30, 1999        September 30, 1998
  
                                  Premis     Pro Forma      Premis       Pro Forma
                                Corporation   Without     Corporation     Without
                                Historical    PREMIS      Historical       PREMIS
                                              Systems                      Systems
                                              Canada                       Canada
  
  
  TOTAL REVENUE                   $  3,468   $    268       $  4,327     $    457
  
  
  
  OPERATING EXPENSES
  
     Cost of revenues                   78         78            364          196
     Selling, general and
        administrative                 258        189          1,085          624
     Research and Development                                  1,112          177
                                  ________   ________       ________     ________
  
          Total                        335        267          2,561          997
  
  
  
  OPERATING PROFIT                   3,132          1          1,767         (540)
  
  
  OTHER INCOME
  
     Interest Income (Expense)          54         79              9           22
     Other Income (Loss)               226        221            (26)          12
                                  ________   ________       ________     ________
  
  
  INCOME BEFORE INCOME TAXES         3,412        300          1,750         (506)
  
  
  PROVISION FOR INCOME TAXES           313         58             (4)
                                  ________   ________       ________     ________
  
  NET INCOME                      $  3,099   $    241       $  1,754     $   (506)
  
  
  NET INCOME PER SHARE            $    .62   $    .05       $    .37    ($    .11)
  
  
  
  
  
  
  See Notes to Pro Forma Consolidated Income Statements.
  
  
  NOTES TO PRO FORMA CONSOLIDATED INCOME STATEMENTS
  
  1.        Basis of Presentation - The Pro Forma Consolidated Income Statements
  assume that the sale of PSC, as described in Item 2 of this Report on Form 8-K,
  occurred as of April 1, 1998.
  
  2.        Pro Forma Adjustments:
  
     I.     Reflects the elimination of PSC business historical results of
  operations, as previously included in the Company's consolidated statements of
  income.
  
     II.    Reflects additional investment income that would have been earned by
  the Company from the investment of the proceeds from the sale of PSC.
  
     III.   Reflects the tax effects related to the elimination of PSC historical
  results of operations.  For the six months ended September 30, 1999, the
  effective tax rate used is the statutory rate of 35%.  Also reflects the tax
  effects of the additional investment income that would have been earned by the
  Company
  
  
  
  
  
                       PREMIS CORPORATION AND SUBSIDIARIES
  
                  PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
  
                              September 30, 1999
                                  (Unaudited)
                                 (in thousands)
  
  
  
                                        PREMIS                        PREMIS
                                      Corporation    Pro Forma      Corporation
                                      Historical     Adjustments     Pro Forma
  
  
  CURRENT ASSETS
  
     Cash and cash equivalents          $  5,769       $    995       $  6,519
     Accounts receivable                      42                            42
     Refundable income taxes                 249                           249
     Prepaids and other assests               64                            64
                                        ________       ________       ________
  
          Total current assets             6,124            995          6,874
  
  
     Property and equipment, net              29                            29
                                        ________       ________       ________
  
  
          TOTAL ASSETS                  $  6,153       $    995       $  6,904
  
  
  
  CURRENT LIABILITIES                        711           (331)           380
  
  
  SHAREHOLDERS' EQUITY
  
     Common Stock                             50                            50
     Additional paid in capital            9,635                         9,635
     Stock subscription receivable           (51)                          (51)
     Accumulated deficiti                 (4,450)         1,340         (3,111)
     Cumulative translation adjustment       258           (258)
                                        ________       ________       ________
  
          Total shareholders' equity    $  5,442       $  1,082       $  6,523
  
  
  
          TOTAL LIABILITIES AND
          SHAREHOLDERS' EQUITY          $  6,153            751       $  6,904
  
  
  
  
  
  See Notes to Pro Forma Condensed Consolidated Balance Sheet.
  
  
  
  NOTES TO PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
  
  1.     Basis of Presentation - The Pro Forma Condensed Consolidated Balance
  Sheet assumes that the sale of PSC, as described in Item 2 of this Report on
  Form 8-K, occurred on September 30, 1999.
  
  2.     Pro Forma Adjustments:
  
     I.     Reflects the sale of the Company's equity interest in PSC and the
  assumption of certain Premis liabilities by the purchaser, as well as all costs
  resulting from the sale.  Cash consideration received is shown prior to any
  related transaction costs, as such costs are assumed to be paid subsequent to
  the sale date.
  
     (c)        The following exhibit is filed as a part of this report:
  
  Exhibit No.  Description                                   Method of Filing
  
  10.2         Stock Purchase Agreement made as     Incorporated by reference to
               of April 20, 1999 among Premis       Exhibit 10.2 filed as a part
               Corporation and ACA Facilitair BV,   of the registrant's report on
               a Netherlands corporation.           Form 10-KSB for the fiscal
                                                    year ended March 31, 1999
  
  
  
  
  
  
  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.
  
  
  Dated:    November 29, 1999               	PREMIS CORPORATION
  
  
          	        	        	/S/  F. T. Biermeier                              .
          	        	        	President, CEO and
          	        	        	Chief Financial Officer
metadata_documents: [{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 9488}]
metadata_filer: {"company-data": {"conformed-name": "PREMIS CORP", "cik": "0000724910", "assigned-sic": "7372", "irs-number": "411424202", "state-of-incorporation": "MN", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-12196", "film-number": "99765513"}, "business-address": {"street1": "13220 COUNTY ROAD 6", "city": "PLYMOUTH", "state": "MN", "zip": "55441", "phone": "6125501999"}, "mail-address": {"street1": "15301 HIGHWAY 55 WEST", "city": "PLYMOUTH", "state": "MN", "zip": "55447"}}
text: 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:  November 29, 1999
  
                               PREMIS CORPORATION
              (Exact name of registrant as specified in its charter)
  
                      Commission File No.    0-12196
  
             Minnesota                                   41-1424202
  (State or other jurisdiction of incorporation) (IRS Employer Identification
  No.)
  
                 13220 County Road 6, Plymouth, Minnesota  55441
             (Address of principal executive offices)        (Zip Code)
  
                              (612) 550-1999
                     (Registrant's telephone number)
  
                              Not Applicable
  (Former name,former address and former fiscal year,if changed since last
  report)
  
  Item 2.        Acquisition or Disposition of Assets
  
          On November 17, 1999, pursuant to a stock purchase agreement entered
  into on April 20, 1999 (as amended), Premis Corporation ("Premis" or the
  "Company") sold all of the issued and outstanding capital stock of its
  wholly-owned subsidiary, Premis Systems Canada Incorporated ("PSC"), a Nova
  Scotia corporation, to ACA Group Canada Inc., a Nova Scotia corporation.  The
  purchase price for the capital stock of PSC was $1,000,000 in cash and the
  assumption of $1,607,045 in liabilities of Premis.
  
  Item 7.        Financial Statements and Exhibits
  
      (a)        Not Applicable.
  
      (b)        Pro forma financial information filed as part of this report:
  
  On November 17, 1999, the Company completed the sale of PSC.  PSC was primarily
  engaged in the development and marketing of a proprietary software product
  known as OpenEnterprise.
  
  The following unaudited pro forma consolidated income statements reflect the
  pro forma results of the Company as if the transaction had been completed on
  April 1, 1998.  These statements should be read in conjunction with the
  unaudited consolidated financial statements and notes thereto included in the
  Company's Quarterly Report on Form 10-QSB for the period ended September 30,
  1999 and the audited consolidated financial statements and notes thereto
  included in the Company's Annual Report on Form 10-KSB for the year ended March
  31, 1999.  The pro forma information may not be indicative of what the
  financial condition or results of operations of the Company would have been had
  the sale been completed on the dates assumed, nor is such information
  necessarily indicative of the future financial condition of the Company.
  
                     PREMIS CORPORATION AND SUBSIDIARIES
  
                   PRO FORMA CONSOLIDATED INCOME STATEMENT
  
                     Six Months Ended September 30, 1999
  
                                (Unaudited)
                    (in thousands, except per share data)
  
                                   Six Months Ending         Six Months Ending
                                   September 30, 1999        September 30, 1998
  
                                  Premis     Pro Forma      Premis       Pro Forma
                                Corporation   Without     Corporation     Without
                                Historical    PREMIS      Historical       PREMIS
                                              Systems                      Systems
                                              Canada                       Canada
  
  TOTAL REVENUE                   $  3,468   $    268       $  4,327     $    457
  
  OPERATING EXPENSES
  
     Cost of revenues                   78         78            364          196
     Selling, general and
        administrative                 258        189          1,085          624
     Research and Development                                  1,112          177
                                  ________   ________       ________     ________
  
          Total                        335        267          2,561          997
  
  OPERATING PROFIT                   3,132          1          1,767         (540)
  
  OTHER INCOME
  
     Interest Income (Expense)          54         79              9           22
     Other Income (Loss)               226        221            (26)          12
                                  ________   ________       ________     ________
  
  INCOME BEFORE INCOME TAXES         3,412        300          1,750         (506)
  
  PROVISION FOR INCOME TAXES           313         58             (4)
                                  ________   ________       ________     ________
  
  NET INCOME                      $  3,099   $    241       $  1,754     $   (506)
  
  NET INCOME PER SHARE            $    .62   $    .05       $    .37    ($    .11)
  
  See Notes to Pro Forma Consolidated Income Statements.
  
  NOTES TO PRO FORMA CONSOLIDATED INCOME STATEMENTS
  
  1.        Basis of Presentation - The Pro Forma Consolidated Income Statements
  assume that the sale of PSC, as described in Item 2 of this Report on Form 8-K,
  occurred as of April 1, 1998.
  
  2.        Pro Forma Adjustments:
  
     I.     Reflects the elimination of PSC business historical results of
  operations, as previously included in the Company's consolidated statements of
  income.
  
     II.    Reflects additional investment income that would have been earned by
  the Company from the investment of the proceeds from the sale of PSC.
  
     III.   Reflects the tax effects related to the elimination of PSC historical
  results of operations.  For the six months ended September 30, 1999, the
  effective tax rate used is the statutory rate of 35%.  Also reflects the tax
  effects of the additional investment income that would have been earned by the
  Company
  
                       PREMIS CORPORATION AND SUBSIDIARIES
  
                  PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
  
                              September 30, 1999
                                  (Unaudited)
                                 (in thousands)
  
                                        PREMIS                        PREMIS
                                      Corporation    Pro Forma      Corporation
                                      Historical     Adjustments     Pro Forma
  
  CURRENT ASSETS
  
     Cash and cash equivalents          $  5,769       $    995       $  6,519
     Accounts receivable                      42                            42
     Refundable income taxes                 249                           249
     Prepaids and other assests               64                            64
                                        ________       ________       ________
  
          Total current assets             6,124            995          6,874
  
     Property and equipment, net              29                            29
                                        ________       ________       ________
  
          TOTAL ASSETS                  $  6,153       $    995       $  6,904
  
  CURRENT LIABILITIES                        711           (331)           380
  
  SHAREHOLDERS' EQUITY
  
     Common Stock                             50                            50
     Additional paid in capital            9,635                         9,635
     Stock subscription receivable           (51)                          (51)
     Accumulated deficiti                 (4,450)         1,340         (3,111)
     Cumulative translation adjustment       258           (258)
                                        ________       ________       ________
  
          Total shareholders' equity    $  5,442       $  1,082       $  6,523
  
          TOTAL LIABILITIES AND
          SHAREHOLDERS' EQUITY          $  6,153            751       $  6,904
  
  See Notes to Pro Forma Condensed Consolidated Balance Sheet.
  
  NOTES TO PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
  
  1.     Basis of Presentation - The Pro Forma Condensed Consolidated Balance
  Sheet assumes that the sale of PSC, as described in Item 2 of this Report on
  Form 8-K, occurred on September 30, 1999.
  
  2.     Pro Forma Adjustments:
  
     I.     Reflects the sale of the Company's equity interest in PSC and the
  assumption of certain Premis liabilities by the purchaser, as well as all costs
  resulting from the sale.  Cash consideration received is shown prior to any
  related transaction costs, as such costs are assumed to be paid subsequent to
  the sale date.
  
     (c)        The following exhibit is filed as a part of this report:
  
  Exhibit No.  Description                                   Method of Filing
  
  10.2         Stock Purchase Agreement made as     Incorporated by reference to
               of April 20, 1999 among Premis       Exhibit 10.2 filed as a part
               Corporation and ACA Facilitair BV,   of the registrant's report on
               a Netherlands corporation.           Form 10-KSB for the fiscal
                                                    year ended March 31, 1999
  
  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.
  
  Dated:    November 29, 1999               	PREMIS CORPORATION
  
          	        	        	/S/  F. T. Biermeier                              .
          	        	        	President, CEO and
          	        	        	Chief Financial Officer