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
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Date of Report (Date of earliest event reported): OCTOBER 21, 1999
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Anything Internet Corporation
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(Exact name of registrant as specified in its charter)
COLORADO 000-29994 84-1425882
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(State of incorporation (Commission (I.R.S. Employer
or organization) File Number) Identification Number)
3020 North El Paso, Ste. 103, Colorado Springs, CO 80907
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (719) 227-1903
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ITEM 6. RESIGNATION OF REGISTRANT'S DIRECTORS.
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On October 19, 1999, the Registrant's Board of Directors was presented and
accepted the resignation of two officers and directors: J. Scott Sitra and
Cameron B. Yost. Messrs. Sitra and Yost's resignation letters are incorporated
herein by reference and filed as Exhibits 17.1 and 17.2, respectively, hereto.
A press release was disseminated on October 20, 1999. The information contained
in the press release is incorporated herein by reference and filed as Exhibit
99.1 hereto.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
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(c) Exhibit.
17.1 Resignation letter of Mr. J. Scott Sitra
17.2 Resignation letter of Cameron B. Yost
99.1 The Registrant's Press Release dated October 20, 1999.
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.
ANYTHING INTERNET CORPORATION
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(Registrant)
Date: October 21, 1999 /s/ Robert C. Schick
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Robert C. Schick
Interim co-President,
Interim co-Chief Executive Officer and
Chief Technology Officer
/s/ Lawrence A. Stanley
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Lawrence A. Stanley
Interim co-President and
Interim co-Chief Executive Officer
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EXHIBIT INDEX
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Exhibit Sequential
Number Description Page Number
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17.1 The Resignation Letter of
J. Scott Sitra
17.2 The Resignation Letter of
Cameron B. Yost
99.1 The Registrant's Press Release 3
dated September 20, 1999
October 19, 1999
VIA HAND DELIVERY
Board of Directors
Anything Internet Corporation
3020 North El Paso, Ste. 103
Colorado Springs, CO 80907
Re: Resignation
To the Board:
It is with my deepest regrets that I must tender my immediate resignation as
both an officer and director of Anything Internet Corporation and all of its
subsidiaries.
My association with the Company has resulted in a staggering decline in
shareholder value and resulting loss of shareholder confidence; a situation I
have been unable to turn around despite my most dedicated efforts. The real
owners of our Company - the shareholders - deserve better representation from
members of upper level management and the Board.
I have confidence that ensuing management will be able to pick up the pieces and
press ahead into new frontiers. I have worked diligently to forge new
relationships with the intent to create profitable joint-venture arrangements
for the Company. These prospective partnerships have been advised of my intent
to depart the Company and are ready to move forward into the future with new
management.
The stage is set for great things to happen. It is my heartfelt desire to see
our Company succeed and shareholders to realize a healthy rate of return on
their investment. I am just sorry I was not able to deliver these things in a
timely manner. It is my hope that fellow members of the Board and our
shareholders can accept my deepest apologies, and move forward with new hope and
direction.
Very truly yours,
/s/ J. Scott Sitra
J. Scott Sitra
President and Chief Executive Officer
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Cameron B. Yost
4740 Forge Rd. #112
Colorado Springs, CO 80907
(719) 531-5535
October 19, 1999
Board of Directors
Anything Internet Corporation
Please accept this correspondence as formal notice of my resignation as
Secretary, Treasurer and as a Director of Anything Internet Corporation.
Sincerely,
/s/ Cameron Yost
Cameron Yost
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ANYTHING INTERNET ANNOUNCES TOP MANAGEMENT CHANGE
Adds New Directors and Retains Business Consultant
Colorado Springs, Colorado -- October 20, 1999 -- Anything Internet Corporation
(OTC Bulletin Board - ANYI) announces that its Board of Directors has received
and accepted the immediate resignations of its President, Chief Executive
Officer and Board member, J. Scott Sitra, and Secretary and Director, Cameron B.
Yost. Following Mr. Sitra's resignation the Board commenced a search for an
outside President and CEO capable of executing the Company's business plan and
building shareholder value. The Board also appointed Lawrence A. Stanley and
Karen Sebastiani as Directors, and retained business consultant William H.
Kroske, Ph.D.
During the interim the positions of President and CEO will be jointly shared by
co-founder Robert C. Schick, currently the Company's Chief Technology Officer,
and Mr. Stanley, a new Board member.
Mr. Stanley is currently the President and founder of Stanley Accounting
Services, a full-service accounting firm delivering complete computerized
financial planning and reporting, including tax consulting, to small businesses
and entrepreneurs. Prior to starting Stanley Accounting, Mr. Stanley was
involved in the founding, purchasing and sale of several small businesses.
Prior to getting involved in his entrepreneurial pursuits, Mr. Stanley served as
the president of Kaman Instrumentation Corporation, a $14 million division of
Kaman Corporation (NASDAQ: KAMNA). Before joining Kaman Instrumentation, Mr.
Stanley worked as the Controller at the Environmental and Process Instruments
division of Bendix Corporation, a $50 million manufacturer of scientific
instruments. Previously Mr. Stanley served as the chief accountant at Sprague
Electric Company, a $150 million manufacturer of electronic components.
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Mr. Stanley commented, "I am pleased to accept my new positions at Anything
Internet and look forward to working with the founders as well as new and future
members of Management to capitalize on the opportunities in front of us. This
is an exciting time to be involved in the Internet and e-commerce, and this
company has developed the technology and processes necessary to profit from the
phenomenal growth in the Internet. Over the coming days we will be making a
series of announcements and communicating our plans for generating a profit from
the Internet to our shareholders."
Mrs. Sebastiani is currently the proprietor of Sebastiani's, a gourmet grocery,
delicatessen and bistro voted the best gourmet store in Colorado Springs by the
Gazette newspaper. Concurrently, Mrs. Sebastiani is the Business Manager at
DoubleCase Corporation. Prior to her current pursuits, Mrs. Sebastiani was a
co-founder of San Francisco International Cheese Imports, where she was a
general manager and oversaw all financial aspects of the company, including the
buying and selling of foreign money futures, and was involved in the eventual
sale of the company after building sales to more than $8 million annually.
Mrs. Sebastiani stated, "It is my pleasure to join the Board of Directors at
Anything Internet and to be a part of this opportunity. I intend to work with
the Board and Management to develop new sales and marketing strategies and
integrate new high margin products and offerings to the Internet sites."
Mr. Kroske is a highly sought after seasoned business consultant and marketing
development specialist with over 20 years of multi-industry experience. He has
successfully built and sold two multi-million dollar businesses and provided
business growth consultation to several others. Mr. Kroske has held the
position of President with SportsStar Marketing, Inc. where he developed a
national franchise program and designed an award winning Internet site. Prior
to SportsStar, Mr. Kroske was the President of DIAL ONE International, Inc., a
national franchise company that operated in 21 states and 5 foreign countries
before he sold it to Drackett Co., a division of Bristol-Meyers. Earlier Mr.
Kroske was the President of Century 21 Real Estate of Los Angeles, where he
built this master franchise into 118 franchise offices in the Los Angeles area
with over 2,200 sales people; the company was later sold to the parent company
after conducting an initial public offering.
Commenting on the changes, Mr. Schick stated, "I would like to thank Mr. Sitra
for his contributions and efforts at Anything Internet, and appreciate his
stepping down for the greater good of the company and its shareholders. I am
sorry to see Mr. Yost depart as well, but can sympathize with his other
professional obligations that require his time and dedication. We wish both of
them well in future endeavors."
"I look forward to working with our new Board of Directors and Mr. Kroske as we
identify and recruit a capable, seasoned businessperson to fill the top
leadership positions. For the interim we've brought in some experienced
business professionals who will help us grow into a profitable operating
company," added Mr. Schick.
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"I realize the most pressing issue on the minds of our shareholders is what has
caused our stock to plummet in recent weeks. The simple truth is we do not
know. Despite his efforts, Mr. Sitra could not answer that question. What we
do know is that we are working to develop a viable and profitable e-commerce
company here. We are putting together a strong, experienced team who can
deliver on that goal. Delivering on that goal will result in increased
shareholder returns and more appropriate market valuations for our stockholders.
Together with Mr. Stanley and Mr. Kroske, we anticipate things to turn around
very quickly."
Anything Internet Corporation, headquartered in Colorado Springs, Colorado with
a business-to-business sales and support office in Tampa, Florida, is a publicly
held Internet e-commerce holding company. Through its wholly-owned
subsidiaries, Anything Internet operates Internet storefronts AnythingPC.com,
AnythingMAC.com, AnythingUNIX.com, anyCOFFEE.com, and AnythingBOOKS.com where it
sells over 201,000 different computer hardware, software and peripheral
products, more than 200 different specialty coffees and one of the largest
selections of books, magazines and music available. Anything Internet's
e-commerce enabling technologies provide its customers with exceptional product
choices, superior pricing and delivery options, and easy-to-use search and
purchase capabilities.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for forward-looking statements. Certain information included in this press
release (as well as information included in oral statements or other written
statements made or to be made by Anything Internet Corporation) contains
statements that are forward-looking, such as statements relating to the future
anticipated direction of the high technology industry, plans for future
expansion, various business development activities, planed capital expenditures,
future funding sources, anticipated sales growth and potential contracts. Such
forward-looking information involves important risks and uncertainties that
could significantly affect anticipated results in the future and, accordingly,
such results may differ from those expressed in any forward-looking statements
made by or on behalf of Anything Internet Corporation. These risks and
uncertainties include, but are not limited to, those relating to development and
expansion activities, dependence on existing management, financing activities,
domestic and global economic conditions, changes in federal or state tax laws,
and market competition factors. For a description of additional risks and
uncertainties, please refer to Anything Internet's filings with the Securities
and Exchange Commission.
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