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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
June 6, 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 1. CHANGES IN CONTROL OF REGISTRANT.
For a significant period of time at this point the Company has been
seeking an acceptable opportunity for an acquisition or merger or other form
of combination which could render the Company once again an enterprise with
operating or potential operating activities. Its efforts in that regard have
been unsuccessful. With the recent collapse of the proposed acquisition of
Truck Farm, Inc., the Company's management determined to seek to recruit
substantial assistance coupled with an ownership interest to revitalize those
efforts with hopefully a greater prospect for success. Following several
weeks of discussions, the Company reached agreement with RAM Capital
Management and its principal, Mr. Steven Oshinsky, to render significant
management consultation to the Company, to acquire a substantial ownership
interest in the Company's Common Stock and to potentially assume a vacant
seat on the Company's Board of Directors. RAM Capital Management has purchased
five million shares of the Company's authorized previously unissued
Common Stock for the sum of three hundred thousand ($300,000) dollars, or $.06
per share and has agreed to immediate engagement as the Company's management
consultant.
In recruiting RAM Capital Management and its principal, Steven Oshinsky,
coupled with the significant ownership interest afforded to his company,
the Company is, in the process, making a major commitment to reversing
its on-going inability to locate, identify and conclude one or more
acquisitions or a suitable merger. While there can of course be no certainty
that the renewed, revitalized efforts will ultimately be successful, the
Company is convinced that a major commitment such as the recruitment of RAM
Capital as described in this Current Report is essential to its prospects.
With the new issuance of the stock purchased by RAM Capital Management,
as an aspect of its engagement by the Company, the Company now has 15 Million
shares of its Common Stock issued and outstanding of its authorized total of
25 Million shares. Upon purchase of its restricted Common Stock RAM Capital
Management controls thirty three (33%) of the Company's issued and
outstanding capital stock.
RAM Capital Management informs the Company that it is a privately held
venture capital and advisory firm focused on undervalued growth companies and
providing private financing, sales and marketing assistance and formation of
strategic alliances. Its most recent projects include private capital
financing of DCH Technology, Inc. and formation of a strategic sales and
marketing alliance between DCH and Xybernaut Corp. In the customary course of
its projects, RAM frequently acquires a substantial stake in the client
enterprise, seeking itself to gain directly from the results of its
consultation and advice without burdening the client enterprise with
substantial fees expense in the process.
RAM Capital Management was formed by its principal, Steven Oshinsky.
Its operations are for the most part carried out by Mr. Oshinsky as the firm's
General Manager.
Mr. Oshinsky entered the financial services business in 1985 in New York
as a financial futures broker focusing primarily on foreign currency, U.S.
treasuries and the S&P 500. In 1993 he joined the investment banking firm of
Barber and Bronson in Fort Lauderdale, Florida. In 1997 Mr. Oshinsky joined
Thomas Green Securities, Inc. Shortly thereafter he founded RAM Capital
Management to provide equity financing to small public companies. Mr. Oshinsky
has been an Ambassador for the American Committee of the Weizmann Institute of
Science since 1995, assisting the Committee with its fund raising activities.
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SIGNATURES
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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: June 7, 2000 BY:/S/ Norman H. Becker
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Norman H. Becker, President
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