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): February 2, 2000
SNELLING TRAVEL, INC.
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(Exact name of registrant as specified in its charter)
Colorado 0-26461 58-2368425
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(State of other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
55 Pharr Road, No. A-207, Atlanta, Georgia 30305
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number including area code: (404) 841-0111
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(Former name or former address, if changed since last report): NA
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Item 5. OTHER EVENTS
On December 15, 1999, the Board of Directors of Snelling Travel, Inc.
(the "Company") declared a 29 for 1 dividend of its Common Stock to all
shareholders of record as of that date. As a result, and following distribution
of the dividend stock, the Company has outstanding 44,225,000 shares of its
Common Stock. Of that amount, 14,500,000 shares are each owned by Rollins C.
Snelling, Jr., the Company's president and a director and Brian Mallon, vice
president, secretary and a director. The share ownership of Messrs. Snelling and
Mallon each represent 32.8% of the Company's presently issued and outstanding
Common Stock. No other shareholder is known by the Company to own greater than
5% of the Common Stock as of the date of this Report.
Also on December 15, 1999, the Company executed an Agreement and Plan
of Merger ("Agreement") with Plus Solutions, Inc., a private Texas corporation.
The Agreement contemplated a merger of Plus with a wholly owned subsidiary of
the Company, such that Plus would become a wholly owned subsidiary of the
Company.
On January 11, 2000, representatives of the Company were notified that
Plus had terminated the Agreement. Subsequently, the Company communicated with
Plus in an effort to resolve the issues raised in the notice of termination and
complete the transaction. Such efforts proved unsuccessful and on February 2,
2000, the Company received further notice from Plus repeating its decision to
terminate the Agreement. As a result, management does not believe the merger
will be completed.
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SIGNATURE
Pursuant to the requirements of Section 13 or 15(a) of the Securities
Exchange Act of 1934, the Registrant has caused this Report to be duly signed on
its behalf by the undersigned hereunto duly authorized.
SNELLING TRAVEL, INC.
Date: February 17, 2000 By: /s/ Rollins C. Snelling, Jr.
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Rolling C. Snelling, Jr., President
