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 earliest event reported: January 18, 2000
Stockgroup.Com Holdings, Inc.
(Exact name of registrant as specified in its charter)
Colorado 000-23687 84-1379282
(State of Incorporation) (Commission File Number) (IRS Identification No.)
500-750 W. Pender Street, Vancouver, British Columbia, Canada V6C 2T7
(Address of principal executive offices)(Zip Code)
(604) 331-0995
(Registrant's telephone number, including area code)
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INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events.
On January 18, 2000, the Company entered into a contract in Singapore which
expands the Company's operation into Asia and entails the development of an
enterprise financial site for Asia Exchange Information Service Pte Ltd.
(AsiaXIS). AsiaXIS was formed through a joint partnership of Form Holdings Ltd.
(FORM.SP - Bloomberg), SMB United Limited (SMBU.SP) and Stockgroup.com Holdings
Inc. (OTC-BB:SWEB). Both Form Holdings Ltd. and SMB United are publicly traded
on the Singapore Stock Exchange. SMB United Limited has annual sales in excess
of Singapore$77 million and net income in excess of Singapore$8.2MM. Form
Holdings recently underwent a restructuring during which George Thia, the former
managing director for Merrill Lynch International Bank Ltd. (SEA), was appointed
CEO. Form is now diversifying into financial information companies. Form and SMB
will each respectively contribute US$565,000 for founding ownership stakes in
AsiaXIS of 28.2%. The balance of the founder's equity in AsiaXIS will be held by
its managing directors.
Under the terms of the agreement, Stockgroup.com will receive approximately
US$1,500,000 for development and upgrade of the initial site in Singapore. The
agreement also provides for AsiaXIS to develop 13 additional financial
enterprise sites throughout Asia, Australia and New Zealand. The Company will be
paid a licensing fee for its technology, a development fee for building and
customizing each additional financial enterprise site, ongoing maintenance and
support fees and royalties for each of the markets that AsiaXIS enters. The
Company has also secured access to the content that will be created by AsiaXIS
in its international news development. As part of the contract, Stockgroup.com
has agreed to acquire an equity position of 19.4% in AsiaXIS for US$500,000.
AsiaXIS's first Web site will be dedicated to the coverage of the Stock
Exchange of Singapore. Over the course of the next 18 months, AsiaXIS will
expand its coverage of other major stock markets to include such markets as Hong
Kong, Taipei and Tokyo.
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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.
Stockgroup.com Holdings, Inc.
(Registrant)
Dated: February 15, 2000 By: /s/ Marcus A. New
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Marcus A. New, Chief Executive Officer
