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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: January 6, 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 roll up
Internet companies acquisitions. 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: January 6, 1999
[logo]
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
SFAD MOVES TO ROLL UP INTERNET COMPANIES ACQUISITIONS
Palm Beach, FL. January 6, 1999, Safe Technologies International, Inc.,
(OTC:BB: SFAD), announced today that they are moving forward with the closing
of the V-Prime Computer acquisition in Boca Raton, FL., presently scheduled
for the end of this January. V-Prime is a computer systems assembly business
with over 400 existing small and medium sized business clients which rely on
V-Prime for repair of their existing computer systems and assembly and
networking of new computer systems. The two year Certified Audits have been
completed and verify Sales Revenues of $525,726 in 1996 and $511,864 in 1997.
The Company has plans to integrate Total Micro Computers into V-Prime and
expand the existing computer systems assembly business to include and offer
Internet Commerce Services, i.e. Web Site Development, Web Hosting, and
Training on the premises. The existing V-Prime premises lease is in an
upmarket, affluent community, retail location, and runs though the Year 2004.
Pursuant to the Company's plan to roll up additional small Internet
operations, The Company is also presently in negotiations with another
Internet Company in Florida, and plans to enter into an Acquisition Contract
later this month. Again, there are no assurances that the proposed roll-up
acquisitions will be consummated or that such acquisitions will be on terms
and conditions that are favorable to the Company.
These proposed acquisitions are part of ongoing Management efforts to increase
Shareholders value through preparing, enabling, and turning Safe Technologies
into an E Corporation for the new millennium.
While the Company intends to acquire V-Prime, there can be no assurances that
this acquisition will be successfully concluded, and if the V-Prime
acquisition is concluded, there are no guarantees that the Company will be
able to successfully integrate V-Prime's operation into its operations.
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.
