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): October 21, 1999
Interactive Magic, Inc.
--------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
North Carolina
- --------------------------------------------------------------------------------
(State or other jurisdiction of incorporation)
0-29750 56-2092059
- -------------------------------- ----------------------------
(Commission file Number) (IRS Employer ID Number)
215 Southport Drive, Suite 1000, Morrisville, North Carolina 27560
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 919-461-0722
-------------
NA
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events.
On October 21, 1999, the Registrant issued a press release stating as
follows:
(RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--OCT. 21,
1999)--iEntertainment Network (Nasdaq: IENTC), formerly known as Interactive
Magic, today announced that it has ended negotiations to acquire three
entertainment-hobby product distributors: Berkeley TopLine, Inc., Zocchi
Distributing, Inc., and Alliance Games Distribution, Inc. (collectively "BZA").
"After a significant due diligence period, we have decided that a
merger between BZA and the iEntertainment Network is not in our Company's best
interest," said interim Chief Financial Officer Bob Hart. "We are strategically
positioned to become a worldwide leader in providing Internet games and
entertainment products. A merger with BZA at this time would tie up valuable
resources and prevent us from moving forward with our current strategic plans."
iEntertainment Network announced today that they have launched their
new Internet Wild Card Games, which includes Hearts, Spades, Pinochle, Bridge,
and Rummy. Earlier this month, iEN released their new Bingo eXtreme title at
both GameHub and the iEntertainment Network. Both products will be available for
FREE and will generate new Internet advertising revenues.
"In addition to the tremendous growth and increased traffic experienced
at GameHub and the iEntertainment Network, we are in the midst of advanced
negotiations with a major service provider which, if successful, will demand
unswerving continued commitment to a pure Internet strategy," said Dave Murray
iEN's V.P. of Marketing.
iEntertainment Network Inc. (Nasdaq: IENTC - news), formerly known as
Interactive Magic, founded in 1994 and located in Research Triangle Park, NC, is
a leading developer of Internet Entertainment Communities through its
iEntertainment Network and GameHub internet properties,
http://www.iencentral.com and http://www.gamehub.net respectively. GameHub is
the preferred provider of online games for AT&T WorldNet's 1.6 million
customers. iEN has signed strategic or OEM/bundling arrangements with AT&T
(NYSE: T - news), America Online (NYSE: AOL - news), Earthlink (Nasdaq: ELNK -
news), Columbia House, Software-of-the-Month Club, Diamond Multimedia (Nasdaq:
DIMD - news), Thrustmaster (Nasdaq: TMSR - news), CH Products and Logitech
(Nasdaq: LOGIY - news). For more information, contact us at: (919) 461-0722 or
visit our website at: http://www.iencentral.com .
<PAGE>
Forward-Looking Statements: Except for the descriptions of historical
facts contained herein, statements in this news release concerning future
results, performance or expectations are forward-looking statements. Actual
results, performance or developments could differ materially from those
expressed or implied by such forward-looking statements as a result of known or
unknown risks, uncertainties and other factors including those described from
time to time in the company's filings with the Securities and Exchange
Commission, under "Risk Factors" and elsewhere, including risks of delisting
from the Nasdaq SmallCap Market, failing to secure timely or adequate financing,
delays in development and introduction of new products, dependence on new
product introductions which achieve significant market acceptance and the
uncertainties of consumer preferences, the rate and degree of market acceptance
of online gaming, the ability to negotiate profitable terms for online gaming
products and services, dependence on third party software developers for
significant portion of new products, risks of rapid technological change and
platform changes, intense competition, seasonality, dependence upon third party
distribution and risks associated with international business and other risks.
<PAGE>
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.
INTERACTIVE MAGIC, INC.
Date: October 26, 1999 /s/ James F. Hettinger
----------------------
James F. Hettinger
Chief Executive Officer
