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): DECEMBER 1, 1999
LIFE ONE, INC.
(Exact name of registrant as specified in its charter)
LOUISIANA 0-13538 72-0947819
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation) File Number) Identification No.)
7212 OLD STAGE ROAD, N. BETHESDA, MARYLAND 20852
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (410) 454-6830
NATIONAL AFFILIATED CORPORATION
(Former name or former address, if changed since last report)
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ITEM 3. BANKRUPTCY OR RECEIVERSHIP.
On December 1, 1999, Life One, Inc., formerly National Affiliated
Corporation, a Louisiana corporation (the "Company"), filed a voluntary
bankruptcy petition under Chapter 11 of Title 11 of the United States Code in
the United States Bankruptcy Court for the District of Maryland (Case No.
99-23950). Under Title 11 of the Bankruptcy Code, a debtor's estate may be
reorganized or liquidated for the benefit of its creditors and equity holders.
Attempts at collection of prepetition claims against the debtor are stayed
during the case.
On December 2, 1999, the United States Bankruptcy Court for the
District of Maryland issued its order directing the appointment of a Chapter 11
trustee for the Company. On December 3, 1999, the Office of the United States
Trustee appointed Charles R. Goldstein as Chapter 11 trustee of the Company. Mr.
Goldstein is also the Chapter 11 trustee for the pending bankruptcy of The
Southern Group, Inc., an affiliate of the Company.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
Exhibit 99.1 Press Release
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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.
LIFE ONE, INC.
Date: December 3, 1999 By: /s/ Charles R. Goldstein
-------------------------
Name: Charles R. Goldstein
Title: Chapter 11 Trustee
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EXHIBIT INDEX
Exhibit
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99.1 Press Release
PRESS RELEASE -- For Immediate Release
LIFE ONE, INC. FILES BANKRUPTCY PETITION
NORTH BETHESDA, MARYLAND - (DECEMBER 3, 1999) - Life One, Inc.,
formerly National Affiliated Corporation, today announced that it had filed for
protection under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy
Court for the District of Maryland. The Company also announced that on December
3, 1999 the Office of the United States Trustee appointed Charles R. Goldstein
as Chapter 11 trustee of the Company pursuant to the order of the United States
Bankruptcy Court for the District of Maryland. Among the matters that Mr.
Goldstein will be investigating are allegations of fraudulent transfers of the
Company's assets and allegations of market manipulation by third parties
involving the Company's common stock. Mr. Goldstein is also the court-appointed
Chapter 11 trustee for the pending bankruptcy case of The Southern Group, Inc.,
an affiliate of Life One.
Statements made or incorporated in this press release include
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Exchange Act. Forward-looking statements
include, without limitation, statements containing the words "anticipates",
"believes", "expects", "intends", "future", and words of similar import which
express management's belief, expectations or intentions regarding the
registrant's future performance or future events or trends. Reliance should not
be placed on forward-looking
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Life One, Inc. Press Release
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statements because they involve known and unknown risks, uncertainties and other
factors, which may cause actual results, performance or achievements of the
registrant to differ materially from anticipated future results, performance or
achievements expressly or implied by such forward-looking statements. In
addition, the registrant undertakes no obligation to publicly update or revise
any forward-looking statement, whether as a result of new information, future
events or otherwise
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