SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
March 3, 2000
(Date of Report - Date of Earliest Event Reported)
33-02035-A
(Commission File Number)
CORRECTIONS SERVICES, INC.
Florida 59-2508470
(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
3040 East Commercial Boulevard
Fort Lauderdale, Florida 33308
(Address of Principal Executive Offices)
(954) 772-2297
(Registrant's Telephone Number)
None
(Former Name, Former Address and Former Fiscal Year,
if changed since last report)
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On March 3, 2000, the Registrant entered into a Letter of
Intent to acquire all of the assets and operations of Truck Farm,
Inc., a closely-held South Carolina corporation with principal
offices in Georgetown, South Carolina. Pursuant to the terms of
the Letter of Intent, during the course of mutual due diligence by
the Registrant and by Truck Farm, Inc., Corrections Services, Inc.
will determine to acquire either all of the issued and outstanding
capital stock of Truck Farm, Inc. or all of its assets in a
transaction in which the business operations of Truck Farm, Inc.
will become the business operations of the Registrant upon
completion of the acquisition transaction. It is contemplated by
both companies that the Registrant's Board of Directors will be
comprised in whole or in majority part of the Directors of Truck
Farm, Inc. and that the Registrant will change its name to reflect
its new commercial operations.
The intended acquisition transaction contemplates an exchange
of Truck Farm common stock or assets in exchange for restricted
Common Stock of Corrections Services, Inc. upon terms and
conditions to be determined following the completion of both
companies' due diligence, a process which is anticipated to take
approximately ninety days from the date of the Letter of Intent.
While there can be no assurance that such due diligence will not
uncover one or more insurmountable obstacles to completion of the
intended acquisition transaction, the Registrant anticipates that
it will be able to develop and enter into a definitive merger or
asset purchase agreement, as the case may be, upon completion of
the mutual due diligence efforts.
The Registrant is informed that Truck Farm, Inc. was
incorporated in the state of South Carolina on August 15, 1995.
Since its inception, Truck Farm, Inc. has operated and currently
operates a sales and service business catering to 4x4 and street
truck owners for engines, equipment and accessories from a brick
and mortar location in Georgetown, South Carolina and from its
Internet facilities known as TruckFarm.com. While it may not be
ultimately possible to do so, Truck Farm, Inc. anticipates multi-
state expansion and expects to add 4x4 and street truck vehicle
sales and service operations to its current sales and service of
engines, equipment and accessories.
The Registrant and Truck Farm, Inc. are presently engaged in
their respective due diligence. The Company expects to enter into
a definitive agreement of merger or purchase of assets as the case
may be, upon completion of those efforts. There can of course be
no assurance that one or more insurmountable obstacles to the
companies' present intentions in the contemplated transaction will
not arise and preclude the Company from entering into a definitive
agreement or from implementing the terms of the definitive
agreement in the near term.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange
Act of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
CORRECTIONS SERVICES, INC.
Dated: March 9, 2000 BY:/s/Norman H. Becker
Norman H. Becker,
President
