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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20594
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: August 6, 1999
Date of the Event being reported: July 23, 1999
ONLINETRADINGINC.COM CORP.
(Exact name of registrant as it appears in its charter)
FLORIDA
(State or other jurisdiction of incorporation)
333-75119 65-0607815
(Commission file number) (IRS Employer Identification Number)
2700 N. Military Trail, Suite 200
Boca Raton, Florida 33431
(Address of Principal Executive Offices and Zip Code)
(561) 995-1010
(Registrant's Telephone Number, Including Area Code)
N/A
(Former Name or Former Address, if changed since last report)
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ITEM 5. OTHER EVENTS.
On July 23, 1999, onlinetradinginc.com corp. (the "Registrant")
entered into an agreement to purchase Newport Discount Brokerage, Inc.
("Newport") for a combination of cash and stock. Closing is contingent upon
approval from the NASD and satisfaction of certain conditions contained in the
stock purchase agreement.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
Exhibit
Number Description
------- -----------
1.1 Copy of onlinetradinginc.com corp.'s July 26, 1999 press
release regarding the purchase of Newport Discount
Brokerage, Inc.
Pursuant to the requirements of the Securities and Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Date: August 6, 1999.
onlinetradinginc.com corp.
/s/ E. Steven zum Tobel
---------------------------------
E. Steven zum Tobel, President
2
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EXHIBIT INDEX
The following Exhibit is hereby filed as part of this Current Report
on Form 8-K:
Exhibit Page
Number Description Number
------ ----------- ------
1.1 onlinetradinginc.com corp.'s July 26, 1999 4
press release regarding the purchase of Newport
Discount Brokerage, Inc.
3
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EXHIBIT 1.1
ONLINETRADINGINC.COM CORP.
Signs Agreement to Purchase Newport Discount Brokerage
July 26, 1999 - onlinetradinginc.com corp. (NASDAQ: LINE) today announced a
formal agreement to purchase Newport Discount Brokerage, Inc. The deal was
structured as a purchase with a combination of cash and stock for an
undisclosed amount. Newport has been in business for 18 years, has over 7,700
active accounts, and currently offers both internet and broker assisted trades.
"The deal is not only accretive to earnings per share, but it will also add
immediately to operating cash flow. The acquisition will allow us to offer more
value added services to Newport's over 7,700 loyal customers," claims Steven
zum Tobel, onlinetradinginc.com's President and CFO.
Newport has approximately $440 million in customer assets. Newport's high
average account balance fits well with online's market niche of limiting its
services to experienced high net worth customers.
