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 29, 1999
Salient Cybertech, Inc.
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Exact name of registrant as specified in charter
Delaware 0-28772 35-1990559
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(State or other jurisdiction (Commission (IRS Employer)
of incorporation) File Number) Identification No.)
1715 Stickney Pt. Rd. Suite A-12, Sarasota FL 34231
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code
(941) 349-6583
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(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events
On October 29, 1999 the company announced a 1 for 10 reverse
stock split effective November 1, 1999.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned thereunto duly
authorized.
Salient Cybertech, Inc.
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(registrant)
Dated November 1, 1999 by:
/s/Larry Provost
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Larry Provost
Secretary / Treasurer
<PAGE>
Exhibit 99. Press Release
SALIENT CYBERTECH BUSINESS UPDATE
October 29,1999 (Sarasota, Florida). Salient Cybertech (OTCBB:
SLEL) today announced the following business information update:
A reverse split, previously approved at the May 22, 1999
shareholders' and board of directors' meetings, will be effective
on market opening Monday November 1, 1999. Salient Cybertech
stock will be reverse split 1 for 10 with any fractional shares
rounded up to full shares.
The company also announced that it is in negotiations to form a
joint venture with an internet company, which has children's
education and entertainment web sites as well as distance
learning and testing contracts for state automobile drivers'
license written exams and insurance industry sponsored traffic
safety courses. The new joint venture will use SWIFT (tm)
(SoftWare Intelligent Freeform Training) technology from Salient
Cybertech's Gemini Learning Systems division, and will raise
private placement capital to fund development and operations.
"We are excited about using SWIFT distance learning software to
deliver a wholesome internet entertainment and learning
environment for children," said CEO Paul Sloan, "and the fees
from drivers' courses will provide a strong recurring revenue
base."
Questions should be addressed to Paul Sloan, Salient Cybertech,
Inc. at Investor Relations (941) 349-6583 or visit
www.salientcyber.com.
Forward Looking Statements : This news release contains certain
"forward-looking" statements within the meaning of the Private
Securities Litigation Reform Act of 1995, which provides a new
"safe harbor" for these types of statements. To the extent
statements in this news release involve, without limitation,
product development and introduction plans, the Company's
expectations for growth, estimates of future revenues, expenses,
profits, cash flow, balance sheet items, sell-through or backlog,
forecasts of demand or market trends for the Company's product
categories and for the industries in which the Company operates,
or any other guidance on future periods, these statements are
forward-looking statements. The Company assumes no obligation to
update forward-looking statements.
