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) March 10, 1998
SAFE ALTERNATIVES CORPORATION OF AMERICA, INC.
(Exact name of registrant as specified in charter)
FLORIDA
(State or other jurisdiction of incorporation)
0-21627 06-1413994
(Commission file number) (IRS employer identification no.)
27 Governor Street, Ridgefield, Connecticut 06877
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (203) 438-8144
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(Former name or former address, if changed since last report)
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Item 6. Resignations of Registrant's Directors.
On March 10, 1998, Stephen J. Thompson resigned from the Board of Directors
of the registrant. In his letter of resignation, Mr. Thompson cited an
unspecified direction taken by the registrant which he believes differs
substantially from the registrant's founding philosophies and strategies.
In October 1997, the Board of Directors of the registrant, then consisting
of Richard J. Fricke and Mr. Thompson, was expanded to four members and Sean
McNamara and Richard W. Hill were elected Directors. In January 1998, Mr.
Thompson and his father, Robert F. Thompson, resigned as officers of the
registrant, the Board was expanded to five members, and Mr. Nicky Hunt was
elected Director.
The registrant's new management has aggressively reduced expenses and
terminated unnecessary facilities, consultants, and marketing arrangements. The
registrant believes that Mr. Thompson's resignation as Director is primarily
attributable to his diminished influence following expansion of the Board of
Directors and, to a lesser extent, the aforementioned operating changes.
Item 7. Financial Statements, Pro Form Financial Information and Exhibits.
(c) Exhibits
17. Resignation letter of Stephen J. Thompson as Director
2
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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.
SAFE ALTERNATIVES CORPORATION OF
AMERICA, INC.
(Registrant)
Date: April 20, 1998 By: /s/ Richard J. Fricke
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Richard J. Fricke
President
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EXHIBIT 17
STEPHEN J. THOMPSON
54 DANBURY ROAD, #292
RIDGEFIELD, CT 06877
To: SAC Board of Directors
Date: 3/10/98
Sent by E-mail and Certified
Gentlemen:
Effective immediately, I am formerly resigning from the Board of Directors of
Safe Alternatives Corporation of America.
Since September 1997, when the Board of Directors was expanded, SAC has taken a
direction, which differs, substantially from its founding philosophies and
strategies. Although these new directions may prove to be successful in the
future, I do not feel that my continued input will any longer influence the
company's direction or benefit SAC's base of stockholders.
As a founder of Safe Alternatives Corporation of America, Inc., I will continue
to support the company and provide any relevant expertise if requested.
Very truly yours,
/s/ Stephen J. Thompson
Stephen J. Thompson
