U. S. 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
February 12, 1996
Commission File Number 1-8662
PROACTIVE TECHNOLOGIES, INC.
(formerly KEYSTONE MEDICAL CORPORATION)
(Exact name of registrant as specified in its charter)
Delaware 23-2265039
(State of Incorporation) (IRS Employer Identification No.)
7118 Beech Ridge Trail
Tallahassee, Florida 32312
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code:
(904) 668-8500
Item 1. CHANGES IN CONTROL OF REGISTRANT
(a) On February 12, 1996, Proactive Technologies, Inc. (the "Company"), a
publicly-traded Delaware corporation (Nasdaq symbol "PTEK") completed its
acquisition all of the issued and outstanding shares of common stock of
Capital First Holdings, Inc. and its subsidiaries ("Capital") from Mark A.
Conner in exchange for approximately eighty percent (80%) of the issued and
outstanding shares of common stock of the Company. In connection with such
acquisition, Mr. Conner was also elected Chairman of the Board and President
and Chief Executive Officer of the Company.
Capital is a real estate developer in Florida which designs and develops
single-family subdivisions for residential lots and condominiums principally
in the Tallahassee, Leon County and Vero Beach areas. For the twelve (12)
month period ended December 31, 1995, Capital generated approximately $30.5
million in revenues and approximately $3.3 million in net income before tax.
As of December 31, 1995, Capital owned approximately $26 million in Total
Assets.
The Company's other primary operating subsidiary, Keystone Laboratories, Inc.,
will continue to operate its forensic using drug screening and confirmatory
testing laboratory in Asheville, North Carolina.
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 hereunto duly authorized.
PROACTIVE TECHNOLOGIES, INC.
Date: ______________ By: /s/ Mark A. Conner
Mark A. Conner
President
