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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
Date of Report (Date of earliest event reported) July 14, 2000
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ILIFE.COM,INC.
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(exact name of registrant as specified in chapter)
Florida 0-25681 65-0423422
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(State or other jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
11811 U.S. Highway One
Suite 101
North Palm Beach, Florida 33408
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(zip code)
Registrant's telephone number, including area code: (561) 627-7330
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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 2. Acquisition or Disposition of Assets.
On July 14, 2000, ilife.com, Inc., a Florida corporation ("the Company")
sold its wholly-owned online insurance subsidiary, Professional Direct Agency,
Inc. ("Pivot"). Pivot was sold pursuant to a Stock Purchase Agreement, dated as
of July 14, 2000, by and between the Company and Signet Insurance Services,
Inc., a Virginia corporation ("Signet") and wholly-owned subsidiary of First
Union Corporation (the "Agreement"). Pursuant to the Agreement, Signet acquired
a 100% interest in Pivot for $4,350,000 in cash.
The total consideration paid by Signet was determined through arms length
negotiations between representatives of the Company and Signet. Neither the
Company nor any of its affiliates had, nor to the knowledge of the Company, did
any director or officer or any associate of any such director or officer of the
Company, have any material relationship with Signet or First Union Corporation
prior to this transaction.
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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 thereunto duly authorized.
ilife.com, Inc.
/s/ Robert J. DeFranco
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Date: July 26, 2000 Robert J. DeFranco
Vice President - Finance and Chief Accounting Officer
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