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): November 11, 1998
SYNERGY MEDIA, INC.
(Exact name of registrant as specified in its charter)
Nevada 33-128 47-0777141
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File No.) Identification No.)
13314 I Street, Omaha, Nebraska 68137
(Address of principal executive offices) (Zip Code)
(402) 334-5556)
(Registrant s telephone number, including area code)
Item 5. Other Information
On November 11, 1998, the Registrant announced it had
entered into a modified Agreement with Government Payment
Service, Inc., an Indiana corporation, and Pay Trac Consumer
Services, Inc., a Nebraska corporation. Under the terms of the
agreement Pay Trac and Registrant shall assume 100%
Ownership of Government Payment Services, Inc. (See Attached
Agreement)
Government Payment Service, Inc. is engaged in providing credit
card collection services to government entities. Registrant and
Pay Trac Consumer Services, Inc., do not have sufficient funds
for the acquisition contemplated and there can be no assurance
that such funds available.
Attachment
AGREEMENT
Acquisition and Financing of Government Payment Service, Inc. (GPS) an Indiana
Corporation,by Pay Trac Consumer Services, Inc. (Pay Trac) a Nebraska
Corporation and Synergy Media,Inc., (SYME) a public company incorporated in
the State of Nevada.
This agreement is hereby executed on November 11, 1998 and includes the
following terms and conditions of the Agreement in principle between GPS and
Pay Trac and SYME. GPS is a company that provides services to Government
Agencies including the collection of fees
and Pay Trac and SYME are engaged in technology services.
Upon completion of the terms and conditions of this agreement, Pay Trac and
SYME shall assume 100% ownership of GPS for the total consideration of:
1. Cash including previous consideration provided by Michael S. Luther
and/or his affiliates of $21,000.00 and $100,000.00 operating capital
previously provided; and
2. $78,000.00 provided today.
3. Pay Trac and SYME shall provide sufficient financing for the future
expansion of the business that will include employment of additional staff
and the acquisition of other related companies.
4. Pay/Trac and SYME shall assume a note made payable to Jon Citron for
$64,500.00 plus interest of 10 1/2% interest.
5. Appropriate staff employed by GPS will be given employment contracts as
directed by Dale Conrad.
6. Immediately upon signing this agreement, the Pay Trac and SYME operations
will be moved to Indianapolis, Indiana with the exception, for the first 90
days, the accounting and finance for Pay Trac and SYME shall operate out of
Omaha, Nebraska.
7. Dale Conrad will be given a three year employment contract to become the
President and CEO of Pay Trac and SYME and shall be provided with
Director's Insurance against any liability for actions or concerns of Pay Trac
and SYME prior to the execution of this agreement.
8. This Agreement supercedes all other agreements made between the parties,
either oral or written.
9. This acquisition is ratified by the Board of Directors of GPS and Pay Trac
and SYME and it is not subject to shareholder's approval.
10. This agreement is binding on all parties signing below.
Agreed:
_________________________________________ 11/11/98
Dale W. Conrad, President GPS
_________________________________________ 11/11/98
Michael S. Luther, Chairman SYME and
Chairman Pay Trac
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