U. S. 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): January 13,
1998
SDC International, Inc.
(Exact name of registrant as specified in its charter)
Delaware 0-27520 75-2583767
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
2701 W. Oakland Park Boulevard
Ft. Lauderdale, Florida 33311
(Address of principal (Zip code)
executive offices)
Issuer's telephone number (561) 882-9300
Not Applicable
(Former name and former address, if changed since last report)
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On November 18, 1997, SDC International, Inc., (the "Company") and Motokov
International, a.s., a Czech Republic company, entered into a Purchase and
Sale Agreement (the "Agreement") providing for the Company's acquisition of
Skobol, s.a., the Bolivian subsidiary of Seller.
Pursuant to the terms of the Agreement, the Company paid to Seller the sum of
US$ 78,000 cash at closing from available resources and acquired 100% of the
shares of Skobol, s.a. As of the effective date of the acquisition, being
September 1, 1997, the assets of the acquired entity total US$692,146.11. Due
to favorable subsequent negotiations whose results are retroactive to the
effective date of the acquisition, the shareholders' equity in the acquired
subsidiary was US$675,942.14. Certified audited financial statements on Skobol
for the past two year
periods are being translated from Spanish into English for filing
purposes.
Skobol, s.a., is a Bolivian company selling and servicing Czech and Slovakian
industrial products in Bolivia for thirty-seven years. The principle products
sold by Skobol during that period are SKODA automobiles, ZETOR tractors, JAWA
motorcyles, AVIA and LIAZ trucks, ADAST printing machines, SIGMA pumps, CKD
and SKODA diesel engines, TOS lathes and BARUM tires. Skobol maintains its
offices, showroom and warehouse in LaPaz, Bolivia and has fourteen employees.
Included in Skobol's assets at acquisition were approximately US$122,000 in
cash, US$382,000 inventories,
and $148,000 in accounts receivables.
SDC International, Inc., is a Delaware corporation formed to market, sell, and
finance Eastern and Central European industrial products such as diesel
generators, cogeneration equipment, on/off road trucks, tractors, freight
containers, and transport equipment such as buses, trolleys, and trams. The
Company plans to introduce all of its products to the central part of South
America through the newly acquired subsidiary and is currently in negotiations
for other similar type acquisitions of existing distribution companies owned
by East European manufacturers, most of whom have limited capital which must
be applied to manufacturing sectors rather than distribution areas.
ITEM 7. Financial Statements
(a) Financial Statements of Business Acquired.
Financial statements required to be filed with respect to the Company's
acquisition of Skobol, s.a., are being translated officially into English and
will be filed by amendment of the Company's Current Report within sixty days
of the date of this report by amendment of the Company's 8-K.
SIGNATURE
In accordance with Section 13 or 15 (d) of the Exchange Act, the
registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
SDC International, Inc.
(Registrant)
Date: January 13, 1998 By:/s/Ronald A.
Adams Ronald A. Adams,
Chairman
and Chief Executive Officer
