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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) November 1, 1999
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quepasa.com, inc.
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(Exact name of Registrant as specified in charter)
Nevada
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(State or other jurisdiction of incorporation)
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0-25565 86-0879433
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(Commission File Number) (IRS Employee Identification No.)
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400 E. Van Buren, Fourth Floor, Phoenix, Arizona 85004
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (602) 716-0100
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Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
On November 1, 1999, quepasa.com, inc. (the "Company") announced the
settlement of its lawsuit against Jeffrey Peterson, the Company's co-founder and
former Chief Executive Officer. In connection with the settlement, Mr. Peterson
has resigned as a Director of the Company, he will retain 37,500 stock options,
exercisable at $1.50 per share, his other stock options have been canceled and
the Company has paid him $200,000. The terms of Mr. Peterson's lock-up agreement
with the Company, entered into at the time of its initial public offering,
remains in effect. Under the lock-up, all of Mr. Peterson's shares, including
the shares underlying Mr. Peterson's options, may not be sold by him until June
2001. In addition, the Company has repaid the $2.25 million loan made to the
Company by Mr. Peterson prior to the Company's initial public offering. The
Company has also settled a dispute with respect to office space in Tempe,
Arizona that was previously disclosed in the Company's Quarterly Report on Form
10-Q for the quarter ended June 30, 1999.
News Release dated November 1, 1999 filed as Exhibit 20.1 to this
Current Report on Form 8-K is incorporated by reference herein.
Item 7. Exhibits.
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Exhibit Number Description
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20.1 News Release dated November 1, 1999.
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SIGNATURE
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.
quepasa.com, inc.
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(Registrant)
Date: November 1, 1999 By: /s/ GARY L. TRUJILLO
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Gary L. Trujillo
Chairman and Chief Executive Officer
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EXHIBIT INDEX
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EXHIBIT
NUMBER DESCRIPTION
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20.1 Press Release dated 11/1/99.
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EXHIBIT 20.1
FOR IMMEDIATE RELEASE
Contact: Lane Buschel
(212) 931-6130
PepperCom, Inc.
[email protected]
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Michele Vahsen
quepasa.com
(602) 716-0100 ext. 259
[email protected]
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QUEPASA.COM SETTLES SUIT WITH FORMER CO-FOUNDER
PHOENIX, AZ - October 29, 1999 - Quepasa.com (NASD: PASA), the premier online
community for U.S. Hispanics (www.quepasa.com), announced today the settlement
of a lawsuit brought by quepasa.com against co-founder Jeffrey Peterson. In
addition, Mr. Peterson also submitted his resignation from the Company's Board
of Directors. At the same time, quepasa.com has also settled a threatened lease
dispute with MCW Holdings, L.L.C.
"We are pleased to have resolved our differences amicably," said Gary L.
Trujillo, Chairman and CEO of quepasa.com. "Quepasa.com wishes Mr. Peterson all
the best in his future endeavors."
ABOUT quepasa.com
Quepasa.com provides the rapidly growing U.S. Hispanic market with information
and interactive content available in both Spanish and English. The site was
founded in 1998 and includes a search engine, free e-mail, free Web pages,
shopping channel, Spanish-language news feeds, worldwide weather information,
chat rooms, games, maps, and message boards. Over the past six months,
quepasa.com has experienced a 133% compound monthly growth rate in page views.
Quepasa.com has entered into strategic partnerships with leading providers of
media, content and technology including: Reuters NewMedia, Inc., Associated
Press, Hispanic Business Magazine, GlobalEnglish Corporation, Screaming Media,
Inc., AutoNation, Inc., Telemundo Network Group, Fox Sports World Espanol,
WeatherLabs, Inc., Inktomi, GTE Internetworking and Exodus Communications.
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