SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report
November 30, 1999
TIME FINANCIAL SERVICES, INC.
(Exact name of registrant as specified in its charter)
NEVADA
(State or jurisdiction of incorporation)
33-22264-FW
(Commission File Number)
33-0317819
(IRS Employer Identification #)
1182 North Tustin Street, Orange, CA 92806
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (714) 288-5901
Item 5. Other Information
Time Financial Services, Inc. (OTC BB - TIMF) has signed a Letter of Intent to
acquire Holoworld, Inc. a privately held multi-themed restaurant-
entertainment company headquartered in Woodland Hills, California.
Holoworld builds and operates unique 20,000 square foot multi-themed
restaurant entertainment complexes geared toward the entire family.
Each facility features multi-themed eating areas, gift shops, video games,
virtual reality games, motion theaters, miniature golf, laser tag maze and a
multitude of special effects.
Currently, Holoworld operates facilities in Pasadena, California, and has a
facility under construction in Denver, Colorado. Holoworld anticipates
opening additional facilities in Houston, Texas, Camarillo, California,
Aliso Viejo, California, Las Vegas, Nevada, and Orlando, Florida.
Under the terms of the letter of intent, Time Financial Services, Inc.
will acquire 100 percent of the issued and outstanding shares of Holoworld,
Inc. pursuant to the terms and conditions of a definitive Share Exchange
agreement.
It is the intention that all of the issued and outstanding shares of
Holoworld shall be acquired by Time Financial Services, Inc. in a "reverse
merger" whereby Holoworld shareholders will hold approximately 90 percent of
the post-merger shares.
Time Financial Services, Inc, through its subsidiary, Time Lending,
California (TLC) is a mortgage and real estate broker. In addition to
mortgages, TLC buys and sells real property in California and Nevada, and
also has a direct mail marketing division.
Additionally, the Letter of Intent calls for Time Financial Services, Inc.
to spin-off or dividend to the shareholders the Time Lending, California
subsidiary shortly after the acquisition is complete.
Certain statements in this 8-K may constitute "forward-looking" statements
within the meaning of Section 21E of the Securities and Exchange Commission
act of 1934. Such forward-looking statements involve risks, uncertainties, and
other factors, which may cause the actual results, performance, achievements
expressed or implied by such forward-looking statements to differ.
SIGNATURES
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.
11/30/99 Time Financial Services, Inc.
(Date) (Registrant)
Michael F. Pope
(Signature)
Philip C. LaPuma
(Signature)
