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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 8, 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 announcing reports internet
acquisition closing and disclosure of major SFAD shareholders lock up
agreements. 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 8, 1999
[logo]
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
SAFE TECHNOLOGIES INTERNATIONAL, INC., REPORTS
INTERNET ACQUISITION CLOSING AND DISCLOSURE OF
MAJOR SFAD SHAREHOLDERS LOCK UP AGREEMENTS
Palm Beach, FL., February 5, 1999, Safe Technologies International, Inc.,
(OTC:SFAD) announced today, that the Company has closed the Acquisition
Agreement with Internet Associates International, Inc., (IAI) in Boca Raton,
FL.
Brad Tolley, Vice President of Investor Relations, said "we are very pleased
to have closed the deal with Internet Associates, today, February 5, 1999, at
our attorney's offices. Management had looked at, several, similar companies
during the past year, providing Web Hosting, Web Marketing and Design
services, as Internet Associates' offer. However, no other companies'
management, we looked at, exhibited the strength in management skills, e.g.,
fiscal responsibility, organizational expertise, etc., which the Internet
Associates' Managing Directors demonstrate. Unlike most Internet companies,
Internet Associates is geared to expect profits. For example, January, 1999,
IAI's unaudited financials indicate a Net Profit of $40,000 for the month. A
company like this is important to SFAD in several respects. IAI conforms to
SFAD's acquisition criteria: solid growth and Shareholder value".
Management, in their continuing interest of providing SFAD shareholders with
current information, also disclosed, today, that the two largest SFAD
shareholders, and the management, together, representing a 78% equity position
in the Company, have entered into Shareholder Agreements for further
restrictions, as to the sale of their SFAD stock, over and above what the SEC
144 rule permits for volume sales in the next four quarters. Pursuant to that
period, the shareholders and officers will again review the market situation
to ascertain the need for additional further restrictions.
Mr. Tolley, said, "Management has great expectations for 1999, based on the
groundwork which was laid in 1998. It is important to emphasize and reinforce
in Shareholders' thinking that SFAD is a multi-faceted company, fast evolving
into an E-Corporation".
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.
