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 11, 2000
SILVER KING RESOURCES, INC.
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(Exact name of registrant as specified in its charter)
Delaware 000-26651 650884085
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
6025 S. Eaton Lane, Littleton, Colorado 80123
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(Address of principal executive office, including zip code)
Registrant's telephone number including area code: (303) 798-2980
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(Former name or former address, if changed since last report)
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ITEM 2. Disposition of Assets.
On or about June 28, 2000, the board of directors of the Registrant, a
Delaware corporation ("Silver King"), approved and adopted the Share Exchange
Agreement, dated June 28, 2000, by and among Galaxy Online, Inc. ("Galaxy"),
eNexi, Inc., Silver King's wholly-owned subsidiary ("eNexi"), and Viaduct II,
Inc. ("Viaduct"), a wholly-owned subsidiary of Silver King formed for the
disposition of eNexi's Internet-access-related assets (the "Galaxy Agreement").
Pursuant to the Galaxy Agreement, eNexi transferred 100% of Viaduct's issued and
outstanding shares to Galaxy in exchange for 85,563 unrestricted shares of
Galaxy's common stock, which were transferred upon the closing of the
transaction, and 256,689 restricted shares of Galaxy's common stock, which were
placed in escrow to be transferred to eNexi in no more than 24 months
(collectively, the "Shares"). On or about the consummation of the Galaxy
Agreement, the Shares were valued $468,000, based upon the public trading price
of Galaxy's common stock at the close of business that day. Pursuant to the
terms of Galaxy Agreement, the transaction became effective upon delivery of
certificates representing the Shares, on or about July 11, 2000.
Viaduct's assets included a dial-up subscriber base of approximately
1,250 customers, a contact information database for approximately 5,000
unserviced affiliates, and the virtuallyfreeinternet.com domain name and web
site. In contemplation of the Galaxy Agreement, Silver King's and eNexi's boards
of directors approved and adopted a Contract for Sale of Assets (the "Viaduct
Agreement"), between eNexi and Viaduct II, on or about June 28, 2000. The
Viaduct Agreement transferred the aforementioned assets from eNexi to Viaduct II
for nominal consideration.
Item 7. Exhibits.
Exhibit
Number
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2.1 Share Exchange Agreement by and among Galaxy Online, Inc., eNexi, Inc., and Viaduct
II, Inc., dated June 28, 2000.
2.2 Contract for Sale of Assets, between eNexi, Inc., and Viaduct II, Inc., dated
June 28, 2000.
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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.
SILVER KING RESOURCES, INC.
Registrant
Date: July 24, 2000 By:
/s/ Larry Mayle
Larry Mayle, Chief Executive Officer
