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
September 14, 2000
Date of Report (date of earliest event reported)
Novacon Corporation
(Exact name of registrant as specified in its charter)
Delaware 0-13187 13-3074570
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State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification Number)
5451 Hilltop Avenue, Lake Elmo, MN 55042
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (651) 704-9160
ITEM 2. Aquisition or Disposition of Assets
Novacon Corporation announced it has executed a Letter of Intent to acquire all
the issued and outstanding shares of privately-held Your.Net, Inc., a Minnesota-
based business-to-business and business-to-consumer e-Commerce development stage
enterprise. Novacon intends to reverse split its currently outstanding shares
at an approximate 1:12 ratio and issue and reserve an additional aggregate
18,000,000 shares of common stock to complete the proposed transaction.
Novacon anticipates that Your.Net, Inc. will operate as a wholly-owned
subsidiary of Novacon.
Novacon Corporation, Lake Elmo, MN was engaged in the manufacture and
distribution of the DIB Drug Infusion Balloon, a proprietary infusion pump
technology designed for applications in pain management. On May 3, 2000,
Novacon was notified the U.S. District Court, Central District of California,
granted I-Flow Corporation, through a final default judgment, a permanent
injunction restraining Novacon from importing, manufacturing, and selling its
DIB Drug Infusion Balloon in the United States, as well as $1,344,581 in
punitive damages.
The proposed transaction is subject to the approval of shareholders of both
Novacon Corporation and Your.Net, Inc., and the satisfaction of damages
awarded to I-Flow Corporation as described above. Novacon plans to call a
special shareholders meeting within the next 45 days to seek shareholder
approval of the proposed acquisition of Your.Net, Inc.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial Statements of Business Acquired
None.
(b) Pro Forma Financial Information
None.
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.
Novacon Corporation
Dated: September 25, 2000 By: /s/ David P. Lang
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David P. Lang, President and
Chief Executive Officer
