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 31, 1999
AUTOEYE INC.
(Exact name of Registrant as specified in its charter)
Delaware 0-26673 98-0207081
(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
#6-2150 Bowen Road
Nanaimo, British Columbia
Canada V9F 1H7
(Address of principal executive offices, including Zip Code)
Registrant's telephone number, including area code: (250) 758-0665
Suite 1650
Waterfront Centre, 200 Burrard Street
Vancouver, British Columbia
Canada V6C 3L6
(Former name or former address if changed since last report.)
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Item 1. Changes in Control of Registrant
On January 31, 2000 the Company acquire all of the issued and outstanding
shares of Forest Industry Online, Inc. in exchange for 10,000,000 shares of the
Company's common stock.
Forest Industry was incorporated on January 9, 1997. Forest Industry's
principal business activities include designing web sites and operating and
maintaining a computer internet web site for companies associated with the
forest industry.
Forest Industry has a website at forestindustry.com, which is fully
operational.
As of January 25, 1999 Forest Industry employed thirteen people on a
full-time basis.
Following the acquisition of Forest Industry Andrew Hromyk resigned as the
Company's president. The Company's new officers and directors are:
Name Position
Joe Perraton President and a Director
Andrew Hromyk Secretary and a Director
Marc White Director
As a result of the acquisition of Forest Industry the following persons
are the principal shareholders of the Company's common stock.
Shares Percentage
Name Owned Ownership
Joe Perraton 2,400,000 17%
Lara Perraton 700,000 5%
Teaco Properties Ltd. 6,900,000 (1) 49%
Bona Vista West Ltd. 4,137,240 27%
(1) Mark White is a controlling person of Teaco Properties Ltd. and may be
considered the beneficial owner of these shares.
Item 2. Acquisition or Disposition of Assets
See Item 1.
Item 5. Other Events
Concurrent with the acquisition of Forest Industry the Company sold 750
shares of its Series A Convertible Preferred stock at a price of $1,000 per
share to three investors. Each Series A Preferred Share is convertible into
shares of the Company's common stock on or after March 16, 2000. The number of
shares of the Company's common stock which will be issued upon the conversion of
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each Series A Preferred share will be determined by dividing $1,000 by 75% of
the average closing bid of the Company's common stock for the ten trading days
prior to conversion. Notwithstanding the above, in no event will (i) less than
250 shares or (ii) more than 5,000 shares of common stock be issued upon the
conversion of each Series A Preferred share.
Item 7. Financial Statements, Pro Forma Financial Information
(a) and (b) The Company hereby undertakes to file with the Commission an
amendment to this Form 8-K wherein the Company will provide the audited
financial statements of Forest Industry Online, Inc. and related pro forma
financial statements within sixty (60) days after the filing of this Form 8-K.
(c) Exhibits
2 Share Exchange Agreement
4 Certificate of Designation setting forth rights and preferences
of Series A Convertible Preferred Stock
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.
Date: February 15, 2000
AUTOEYE INC.
By: /s/ Andrew Hromyk
Andrew Hromyk, Secretary
