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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 2, 1999 - Commission File No. 0-17746
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SAFE TECHNOLOGIES INTERNATIONAL INCORPORATED
(Formerly Safe Aid Products Incorporated)
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(Exact name of Registrant as specified in its Charter)
Delaware 22-2824492
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(State or other jurisdiction of (IRS Employer ID No.)
incorporation or organization)
249 Peruvian Avenue
Suite F2
Palm Beach, Florida 33480
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(Address of principal executive (Zip Code)
offices)
Registrant's telephone number,
including area code: (561) 832-2700
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* On February 9, 1998, Safe Aid Products Incorporated merged with and into
Intelligence Network International and was renamed Safe Technologies
International Incorporated.
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<PAGE>
Item 5. Other Events
The Company issued a press release today announcing plans to diversify
with an additional internet company acquisition. The information contained in
the press release, a copy of which is attached hereto as Exhibit 99.1 is
incorporated herein by reference.
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Signatures
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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.
SAFE TECHNOLOGIES INTERNATIONAL INCORPORATED
By: /s/ Barbara Tolley
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Barbara Tolley, CEO & Chairman
Dated: February 2, 1999
[logo]
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
SAFE TECHNOLOGIES INTERNATIONAL, INC., (SFAD) DIVERSIFIES
WITH ADDITIONAL INTERNET COMPANY ACQUISITION
Palm Beach, FL., February 2, 1999, Safe Technologies International,
Inc.(OTC:BB: SFAD), announced today that they have entered into an Acquisition
Agreement with Internet Associates International, Inc., a Boca Raton, FL.,
based company, which will close on or before February 5, 1999.
Brad Tolley, Vice President of Investor Relations, reports that "pursuant to
the Company's foray into E-Commerce, via INCyberMall.com, (the mall for the
'rich and famous') and our business plan of increasing Shareholder value,
exponentially, by rolling up Internet company acquisitions, we are pleased
that an agreement has been completed with Internet Associates. They bring to
our group an additional and compatible levels of Internet services to the
existing Company's E-Commerce specialization".
Internet Associates International, Inc., (IAI) is an Internet marketing and
web site development firm involved in the development, marketing, and hosting
of web sites, as well as the training of web developers. IAI owns and
maintains five Internet Servers, on location, with direct redundant T-1
connections to the Internet. The Internet servers are equipped with secure
commerce, e-commerce applications, shopping cart facilities and database
driven applications.
IAI specializes in quality 'market-driven' web sites that unleash the power of
the Internet, combining innovative web design and programming with traditional
marketing and advertising elements especially designed to promote
interactivity and volume response to each customers web site. Currently, IAI
offers web services to over 3000 customers, nationally. Training Programs
offering Web Master Certificates to Ft. Lauderdale Art Institute Graduates,
rounds out the IAI Internet services.
The terms of the Acquisition are a stock for stock transaction, wherein the
IAI former stockholders will enter into three year share lock-up agreements
after closing, for sale of their SFAD stock. The acquisition price is based on
a formula of IAI Net Profits for the Year 1999. Earnings are projected to be a
minimum of $400,000 on projected Revenues of $1,500,000. The IAI staff
currently consists of 19 people; IAI's existing two Managing Directors will
each enter into a three year Employment Agreement with the Company.
Safe Technologies International, Inc., (OTC: SFAD), based in Palm Beach,
Florida, is a multi-faceted company with multiple areas of concentrations:
Internet, Technology, and Heath Care/Wellness.
SOURCE: Safe Technologies International, Inc.,(SFAD)
CONTACT: Brad Tolley VP Investor Relations
TEL: 561-832-2700
EMAIL: [email protected]
HTTP:// www.safetechnologies.com
Forward-Looking Statements: Except for the historical information contained
herein, this news release may contain forward looking statements within the
meaning of Section 27A of the Securities Act of l934, as amended, that may
involve risks and uncertainties, including unproven market for SFAD's products
and services, the availability of suitable financial resources, the
availability of management, as well as other risks detailed from time to time
in the Company's SEC reports, including reports on Form 10KSB for the year
ended November, 1997 and Form 10-QSB for the quarter ended September 30, 1998.
