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UNITED STATES
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 o f 1934
SEPTEMBER 30, 2000
Date of Report
(Date of earliest event reported)
NETWORK SYSTEMS INTERNATIONAL, INC.
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(Exact name of registrant as specified in its charter)
NEVADA 0-22991 87-0460247
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
6413 CONGRESS AVENUE, SUITE 230, BOCA RATON, FL 33487
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(Address of principal executive offices)
(561) 988-2334
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Registrant's telephone number
200 NORTH ELM STREET, GREENSBORO, NORTH CAROLINA 27401
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Former address
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ITEM 1. CHANGES IN CONTROL OF REGISTRANT.
Not Applicable.
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
Effective September 30, 2000, Network Systems International, Inc.
("NSII") exercised their option to require Robbie M. Efird, E.W. Miller, Jr.,
David F. Christian and James W. Moseley, (collectively referred to as "Buyer")
to purchase for Three Million Dollars ($3,000,000) all of their interest in
their two operating subsidiaries, Vercom Software, Inc., a Texas corporation,
and Network Systems International of North Carolina, Inc., a North Carolina
corporation.
The purchase price consists of One Million Five Hundred Thousand
Dollars ($1,500,000) in cash, which was received at closing, and secured,
non-recourse promissory notes in the aggregate amount of $1,500,000. The
collateral for the notes consists of 2,925,856 shares of the common stock of
NSII. The notes are payable in full, without interest, within 120 days.
ITEM 3. BANKRUPTCY OR RECEIVERSHIP
Not Applicable.
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
Not Applicable.
ITEM 5. OTHER EVENTS
Not Applicable.
ITEM 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS
Not Applicable.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
No financial statements are filed herewith. The Registrant shall file
financial statements by amendment hereto not later than 60 days after the date
that this initial report on Form 8-K must be filed.
ITEM 8. CHANGE IN FISCAL YEAR
Not Applicable.
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ITEM 9. SALE OF EQUITY SECRUITIES PURSUANT TO REGULATION S
Not Applicable.
EXHIBITS
Not Applicable.
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.
NETWORK SYSTEMS INTERNATIONAL, INC.
BY/S/ HERBERT TABIN, PRESIDENT
DATE: OCTOBER 16, 2000