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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): July 19, 1999
MODACAD, INC.
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(Exact name of registrant as specified in its charter)
California 33-31166 95-4145930
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(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification No.)
3861 Sepulveda Blvd., Culver City 90230
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (310) 751-2100
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Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events
Modacad Inc. ("the Company") held its annual meeting on July 16, 1999 at the
Company's headquarters. Shareholders approved all of the proposed resolutions
including changing the legal name of the Company to Styleclick.com Inc. The
Company plans to begin trading under the name Styleclick.com Inc. and the new
ticker symbol "IBUY" on Monday, July 19, 1999. See attached press release issued
on July 16, 1999, which by this reference, is incorporated herein.
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.
Modacad, Inc.
Date: July 19, 1999 By: /s/ LEE FREEDMAN
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Lee Freedman
Vice President, Finance and
Chief Financial Officer
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PRESS RELEASE
MODACAD CHANGES NAME TO STYLECLICK.COM INC.
- Company Holds Annual Meeting; Shareholders Approve All Proposed Resolutions.
- Modacad to Begin Trading Under New Ticker Symbol "IBUY"
LOS ANGELES, Calif. - July 16, 1999 - Modacad (NASDAQ NMS: MODA),creator of the
leading fashion e-commerce web site, www.styleclick.com, held its annual meeting
today at the Company's headquarters. Shareholders approved all of the proposed
resolutions including changing the legal name of the Company to Styleclick.com
Inc., pending the filing of Form 8-K with the SEC. The Company plans to begin
trading under the name Styleclick.com Inc. and the new ticker symbol "IBUY" on
Monday, July 19, 1999.
In addition, shareholders voted to re-elect Joyce Freedman, Lee Freedman,
Maurizio Vecchione, Stephen Wyle, Peter Frank and Leslie Saleson to the board of
directors, ratified the appointment of Ernst & Young as the Company's
independent auditors, and amended the Company's stock option plan to increase
the number of shares for issuance. Shareholders also voted in favor of two
proposals relating to the Company's private placement earlier this year.
"We are very pleased with the support we have received from our shareholders on
all proposals," stated Joyce Freedman, Modacad's chairman and co-chief executive
officer. "The name change to Styleclick.com reinforces our strong position as
the leading network of style-related Internet sites."
Modacad operates its two flagship sites, www.fashiontrip.com and
www.styleclick.com, as well as a growing network of fashion e-commerce sites for
leading brands including, For Joseph, FreeStyle USA, Hunter Douglas, and Sbicca.
Modacad recently announced its syndication program, which consists of licensing
portions of fashion content currently available on the Styleclick.com web site,
to third party licensees, including major portals, lifestyle and celebrity web
sites. Modacad is the first company to syndicate fashion content online.
Also at today's meeting, Maurizio Vecchione, Modacad's president and co-chief
executive officer unveiled the Company's marketing strategy to create branding
for the new Company name as well the Styleclick.com fashion e-commerce site.
"The marketing campaign is designed to reinforce the message that Styleclick.com
is the first Internet company to create a complete e-commerce solution for the
style industries," stated Vecchione.
Modacad's aggressive marketing campaign will include print advertising in
national business and consumer publications as well as a targeted radio campaign
in the major metropolitan cities.
Styleclick.com, Modacad's premier site for fashion e-commerce, offers many
products in high resolution with the ability to pan and zoom in to inspect
fabric textures, stitching, buttons, and beading. Featured products can be
viewed in high resolution, three dimensional rotation, providing visually rich
images that allow consumers to see products from all angles in order to make
informed purchasing decisions. Styleclick.com is the first e-commerce site to
provide image-by-image comparisons by category where consumers can compare
related products from different manufacturers and visually compare the look of
items, not just the price. These features create a more realistic shopping
experience.
Modacad also recently announced an interactive marketing partnership with
America Online (NYSE: AOL), the world's leading interactive services company,
and an e-commerce merchant agreement with Excite@Home (Nasdaq: ATHM), a global
Internet media company.
For further information or for a complete investor kit, contact Gail Laguna,
investor relations manager, at 310/751-2100 or visit Modacad's corporate web
site at www.modacad.com.
