<PAGE> 1
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): May 1, 2000
KINETIKS.COM, INC.
------------------
(Exact name of registrant as specified in its charter)
Delaware 0-27418 76-0478045
-------- ------- ----------
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
10055 Westmoor Drive
Westminster, CO 80021
--------------- -----
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 534-1408
--------------
<PAGE> 2
ITEM 5. OTHER EVENTS.
On May 1, 2000, eLinear Corporation, a wholly owned subsidiary of
Kinetiks.com, Inc., issued a press release announcing that it had entered into
a letter of intent to acquire Genesys Development Corporation, a full-service
Internet consulting firm, a copy of which is attached hereto as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial Statements of Businesses Acquired.
None.
(b) Pro Forma Financial Information.
None.
(c) Exhibits.
Exhibit
Number Exhibit Description
------ -------------------
99.1 Press Release, dated May 1, 2000
2
<PAGE> 3
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the Registrant has duly caused this Report to be signed on its
behalf by the undersigned thereunto duly authorized.
KINETIKS.COM, INC.
By: /s/ Paul Thomas
----------------------------------
Paul Thomas
Chief Financial Officer
Dated: May 3, 2000
3
<PAGE> 4
EXHIBIT INDEX
Exhibit
Number Exhibit Description
- ------ -------------------
99.1 Press Release, dated May 1, 2000
4
<PAGE> 1
Exhibit 99.1
MONDAY MAY 1, 12:18 PM EASTERN TIME
COMPANY PRESS RELEASE
eLINEAR ANNOUNCES LETTER OF INTENT TO ACQUIRE GENESYS DEVELOPMENT CORPORATION
WESTMINSTER, Colo.--(BUSINESS WIRE)--May 1, 2000--eLinear, a wholly owned
subsidiary of Kinetiks.com (OTCBB:KNET), announced today the signing of a
letter of intent to acquire Genesys Development Corporation, a full-service
Internet consulting firm based in Louisville, Kentucky.
"This acquisition is a reflection of our focus on building a national presence
to support our expanding client base," said Jon Ludwig, CEO of eLinear. "With
headquarters in Louisville and a field office in Cincinnati, Genesys is a
perfect match for our second-tier market focus. Genesys has built a superb team
over the past five years, with strong delivery capabilities in SQL, ASP, Visual
Basic and Cold Fusion; these areas of expertise will greatly expand eLinear's
ability to deliver solutions to our clients regardless of their existing
development environment."
The Genesys acquisition is evidence of execution of eLinear's integrated
business model and demonstrates a growth plan balanced by internal growth
through new office start-ups and external growth via strategic acquisitions.
Earlier this year, eLinear completed the start-up of two new field offices in
Ft. Lauderdale, Florida, and Houston, Texas. Since then, eLinear has set up
corporate headquarters and an additional sales office in Tampa, Fla.
"As part of the eLinear team, we will leverage our combined strengths to
penetrate entirely new markets for our e-commerce and Internet consulting and
design work," said Brian Keinsley, co-founder of Genesys.
"eLinear is a premier provider of e-business solutions and we're excited about
extending our capabilities to our existing clients across a breadth of
platforms and channels," said Keith Norton, co-founder of Genesys. "In
addition, our belief in the value of investing in people is very similar to
that of eLinear. Through the utilization of individuals in multi-disciplinary
teams, we can make the most of their creative, strategic, and technical
knowledge. We attribute Genesys' success to this kind of corporate culture."
"Genesys represents a good strategic match for us as it mirrors our focus on an
efficient, rapidly growing, profitable business model," said Paul Piciocchi,
Vice President of Mergers & Acquisitions. "I am very pleased with the technical
and cultural fit that Genesys represents for eLinear."
Genesys' staff will be integrated into eLinear's central region, managed by
Bill Ivins, Central Region Vice President. This transaction is subject to
certain conditions, including the obtaining of satisfactory financing by
Kinetiks.com of the cash portion of the purchase price and
5
<PAGE> 2
satisfactory due diligence by eLinear's accounting and legal teams. At the
completion of due diligence, merger agreements will be executed and Genesys
Development Corporation is expected to become eLinear - Louisville and eLinear
- - Cincinnati. About eLinear:
eLinear is a full-service Internet consulting firm, offering e-commerce
consulting, design and development services to clients ranging from Fortune 500
companies to start-up dot com enterprises. Since 1997, eLinear has focused on
maximizing its clients ROII, or Return on Internet Investment. Additional
information is available at www.elinear.com or by calling 303/543-1408.
About Genesys:
Founded in 1995, Genesys Development Corporation has grown rapidly and
profitably. Genesys provides a wide range of e-business services to its client
base from strategy to design and implementation.
Statements in this release regarding eLinear business, which are not historical
facts, are "forward-looking statements" that involve risks and uncertainties.
eLinear's actual results could differ materially from those expressed or
indicated by forward-looking statements. Factors that could cause or contribute
to such differences include, but are not limited to, Kinetiks.com's and
eLinear's ability to successfully obtain financing for the acquisition, their
ability to consummate the acquisition and their ability to successfully
integrate and operate the acquired business. This information should also be
read in conjunction with cautionary statements contained in Kinetiks' 10K.
- ------------------------
Contact:
eLinear Corporation
Paul Thomas, CFO, 303/543-1408
6
