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: April 30, 2000
IVES HEALTH COMPANY, INC.
Oklahoma 0-28227 73-1430235
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State of Incorporation Commission File No. IRS Employer ID No.
817 North J.M. Davis, Claremore, Oklahoma 74017
(Address of principal executive offices) (Zip Code)
(918) 283-1226
(Registrant's telephone number, including area code)
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Item 2. Acquisition or Disposition of Assets.
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(a) On April 30, 2000, Ives Formulation Company, Inc., a newly organized
and wholly owned Oklahoma subsidiary of Ives Health Company, Inc.
("Ives"), purchased certain assets from International Formulation and
Manufacturing Company, Inc., of San Diego, CA ("IFM"). IFM is the
primary supplier of certain products private labeled by Ives. The
purchase price consisted of $502,000 in cash, a promissory note for
$150,000 payable by Ives at $25,000 per month for 6 months beginning
May 1, 2000, and 150,000 shares of Ives common stock. The Ives stock
was issued in a transaction exempt from registration pursuant to
Section 4(2) of the Securities Act. No affiliate of Ives had a
financial interest in IFM.
(b) The assets purchased consisted of various manufacturing equipment used
to mix, tabletize, encapsulate, and package natural non-prescription
medicines; certain inventory of finished goods and work in progress,
certain office furniture, computers, office machines, laboratory
equipment, various intellectual property rights, including the
exclusive right to certain formulas of products which Ives private
labels. The company intends to continue the use of the above assets.
(c) Dr. Jack Watkins, founder and principal shareholder of IFM and
inventor and owner of the intellectual property rights, along with
other key employees of IFM, agreed to become employed by Ives as a
result of this transaction.
(d) As a result of this purchase, Ives now has control of the equipment
and personnel to supply Ives with the products it supplies to Ives'
customers.
Item 6. Resignations of Registrant's Directors
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On April 10, 2000, Tony Fauver resigned as a director of Ives. No dispute
exists between Ives and Mr. Fauver. Mr. Fauver will continue to be the
Operations Manager and in charge of Quality Control.
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 thereunto duly authorized.
IVES HEALTH COMPANY, INC.
By S/ Michael Harrison
Date: May 12, 2000 Michael Harrison, CEO
