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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
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NOVEMBER 9, 1999
Date of report (Date of earliest event reported)
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Commission File Number: 0-18108
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FINET.COM, INC.
Exact name of registrant as specified in its charter)
DELAWARE
(State or jurisdiction of
incorporation or organization)
2527 CAMINO RAMON, SUITE 200
SAN RAMON, CA 94583
(Address of principal executive office)
94-3115180
(IRS Employer Identification Number)
Telephone Number: (925) 242-6550
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On September 30, 1999, the Board of Directors approved the
Restated Bylaws of the Company, attached hereto as Exhibit 3.
On November 15, 1999, the Company moved its corporate headquarters
from 3021 Citrus Circle, Suite 150, Walnut Creek, California to
2527 Camino Ramon, Suite 200, San Ramon, California. A copy of
the press release is attached as Exhibit 99.1
ITEM 8. CHANGE IN FISCAL YEAR
Effective November 9, 1999, FiNet.com, Inc. has changed its fiscal
year end from April 30 to December 31. The Company will file a
Form 10-Q for the regular quarter ended October 31, 1999. The
transition period will be covered in a Form 10-K for the stub
period ending December 31, 1999.
ITEM 7. EXHIBITS
EXHIBIT 3.(ii) Restated Bylaws of FiNet.com, Inc.
EXHIBIT 99.1 Press Release dated September 15, 1999 entitled
"FiNet.com Consolidates Western Business Units in New Headquarters
at Bishop Ranch to Expand Operations."
EXHIBIT 99.2 Press Release dated November 9, 1999 entitled
"FiNet.com to Announce Results for Period Ending October 31, 1999
Company announces change to fiscal calendar year effective January
1, 2000"
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, THEREUNTO DULY AUTHORIZED.
FINET.COM, INC.
<TABLE>
<S> <C>
Date: November 24, 1999 /s/ GARY A. PALMER
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GARY A. PALMER
(PRINCIPAL FINANCIAL OFFICER)
</TABLE>
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RESTATED BYLAWS OF FINET.COM, INC.
ARTICLE I
Stockholders
Section 1.1. Annual Meetings. An annual meeting of
stockholders shall be held for the election of directors at such
date, time and place, either
within or without the State of Delaware, as may be designated by
resolution of the Board of Directors from time to time. Any other
proper business may be transacted at the annual meeting.
Section 1.2. Special Meetings. Special meetings of
stockholders for any purpose or purposes may be called at any time
by the Board of Directors, or by a committee of the Board of
Directors that has been duly designated by the Board of Directors
and whose powers and authority, as expressly provided in a
resolution of the Board of Directors, include the power to call
such meetings, but such special meetings may not be called by any
other person or persons.
Section 1.3. Notice of Meetings. Whenever stockholders are
required or permitted to take any action at a meeting, a written
notice of the meeting shall be given that shall state the place,
date and hour of the meeting and, in the case of a special
meeting, the purpose or purposes for which the meeting is called.
Unless otherwise provided by law, the certificate of incorporation
or these bylaws, the written notice of any meeting shall be given
not less than ten nor more than sixty days before the date of the
meeting to each stockholder entitled to vote at such meeting. If
mailed, such notice shall be deemed to be given when deposited in
the United States mail, postage prepaid, directed to the
stockholder at his address as it appears on the records of the
corporation.
Section 1.4. Adjournments. Any meeting of stockholders,
annual or special, may adjourn from time to time to reconvene at
the same or some other place, and notice need not be given of any
such adjourned meeting if the time and place thereof are announced
at the meeting at which the adjournment is taken. At the
adjourned meeting the corporation may transact any business which
might have been transacted at the original meeting. If the
adjournment is for more than thirty days, or if after the
adjournment a new record date is fixed for the adjourned meeting,
notice of the adjourned meeting shall be given to each stockholder
of record entitled to vote at the meeting.
Section 1.5. Quorum. Except as otherwise provided by law, the
certificate of incorporation or these bylaws, at each meeting of
stockholders the presence in person or by proxy of the holders of
shares of stock having a majority of the votes which could be cast
by the holders of all outstanding shares of stock entitled to vote
at the meeting shall be necessary and sufficient to constitute a
quorum. In the absence of a quorum, the stockholders so present
may, by majority vote, adjourn the meeting from time to time in
the manner provided in Section 1.4 of these bylaws until a quorum
shall attend. Shares of its own stock belonging to the
corporation or to another corporation, if a majority of the shares
entitled to vote in the election of directors of such other
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corporation is held, directly or indirectly, by the corporation,
shall neither be entitled to vote nor be counted for quorum
purposes; provided, however, that the foregoing shall not limit
the right of the corporation to vote stock, including but not
limited to its own stock, held by it in a fiduciary capacity.
Section 1.6. Organization. Meetings of stockholders shall be
presided over by the Chairman of the Board, if any, or in his
absence by the Vice Chairman of the Board, if any, or in his
absence by the President, or in his absence by a Vice President,
or in the absence of the foregoing persons by a chairman
designated by the Board of Directors, or in the absence of such
designation by a chairman chosen at the meeting. The Secretary
shall act as secretary of the meeting, but in his absence the
chairman of the meeting may appoint any person to act as secretary
of the meeting. The chairman of the meeting shall announce at the
meeting of stockholders the date and time of the opening and the
closing of the polls for each matter upon which the stockholders
will vote.
Section 1.7. Voting; Proxies. Except as otherwise provided by
the certificate of incorporation, each stockholder entitled to
vote at any meeting of stockholders shall be entitled to one vote
for each share of stock held by him which has voting power upon
the matter in question. Each stockholder entitled to vote at a
meeting of stockholders or to express consent or dissent to
corporate action in writing without a meeting may authorize
another person or persons to act for him by proxy, but no such
proxy shall be voted or acted upon after three years from its
date, unless the proxy provides for a longer period. A proxy
shall be irrevocable if it states that it is irrevocable and if,
and only as long as, it is coupled with an interest sufficient in
law to support an irrevocable power. A stockholder may revoke any
proxy which is not irrevocable by attending the meeting and voting
in person or by filing an instrument in writing revoking the proxy
or by delivering a proxy in accordance with applicable law bearing
a later date to the Secretary of the corporation. Voting at
meetings of stockholders need not be by written ballot and, unless
otherwise required by law, need not be conducted by inspectors of
election unless so determined by the holders of shares of stock
having a majority of the votes which could be cast by the holders
of all outstanding shares of stock entitled to vote thereon which
are present in person or by proxy at such meeting. At all
meetings of stockholders for the election of directors a plurality
of the votes cast shall be sufficient to elect. All other
elections and questions shall, unless otherwise provided by law,
the certificate of incorporation or these bylaws, be decided by
the vote of the holders of shares of stock having a majority of
the votes which could be cast by the holders of all shares of
stock outstanding and entitled to vote thereon.
Section 1.8. Fixing Date for Determination of Stockholders of
Record. In order that the corporation may determine the
stockholders entitled to notice of or to vote at any meeting of
stockholders or any adjournment thereof, or to express consent to
corporate action in writing without a meeting, or entitled to
receive payment of any dividend or other distribution or allotment
of any rights, or entitled to exercise any rights in respect of
any change, conversion or exchange of stock or for the purpose of
any other lawful action, the Board of Directors may fix a record
date, which record date shall not precede the date upon which the
resolution fixing the record date is adopted by the Board of
Directors and which record date: (1) in the case of determination
of stockholders entitled to vote at any meeting of stockholders or
adjournment thereof, shall, unless otherwise required by law, not
be more than sixty nor less than ten days before the date of such
meeting; (2) in the case of determination of stockholders entitled
to express consent to corporate action in
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writing without a meeting, shall not be more than ten days from
the date upon which the resolution fixing the record date is
adopted by the Board of Directors; and (3) in the case of any
other action, shall not be more than sixty days prior to such
other action. If no record date is fixed: (1) the record date for
determining stockholders entitled to notice of or to vote at a
meeting of stockholders shall be at the close of business on the
day next preceding the day on which notice is given, or, if notice
is waived, at the close of business on the day next preceding the
day on which the meeting is held; (2) the record date for
determining stockholders entitled to express consent to corporate
action in writing without a meeting when no prior action of the
Board of Directors is required by law, shall be the first date on
which a signed written consent setting forth the action taken or
proposed to be taken is delivered to the corporation in accordance
with applicable law, or, if prior action by the Board of Directors
is required by law, shall be at the close of business on the day
on which the Board of Directors adopts the resolution taking such
prior action; and (3) the record date for determining stockholders
for any other purpose shall be at the close of business on the day
on which the Board of Directors adopts the resolution relating
thereto. A determination of stockholders of record entitled to
notice of or to vote at a meeting of stockholders shall apply to
any adjournment of the meeting; provided, however, that the Board
of Directors may fix a new record date for the adjourned meeting.
Section 1.9. List of Stockholders Entitled to Vote. The
Secretary shall prepare and make, at least ten days before every
meeting of stockholders, a complete list of the stockholders
entitled to vote at the meeting, arranged in alphabetical order,
and showing the address of each stockholder and the number of
shares registered in the name of each stockholder. Such list
shall be open to the examination of any stockholder, for any
purpose germane to the meeting, during ordinary business hours,
for a period of at least ten days prior to the meeting, either at
a place within the city where the meeting is to be held, which
place shall be specified in the notice of the meeting, or if not
so specified, at the place where the meeting is to be held. The
list shall also be produced and kept at the time and place of the
meeting during the whole time thereof and may be inspected by any
stockholder who is present. Upon the willful neglect or refusal
of the directors to produce such a list at any meeting for the
election of directors, they shall be ineligible for election to
any office at such meeting. The stock ledger shall be the only
evidence as to who are the stockholders entitled to examine the
stock ledger, the list of stockholders or the books of the
corporation, or to vote in person or by proxy at any meeting of
stockholders.
Section 1.10. Action By Consent of Stockholders. Unless
otherwise restricted by the certificate of incorporation, any
action required or permitted to be taken at any annual or special
meeting of the stockholders may be taken without a meeting,
without prior notice and without a vote, if a consent or consents
in writing, setting forth the action so taken, shall be signed by
the holders of outstanding stock having not less than the minimum
number of votes that would be necessary to authorize or take such
action at a meeting at which all shares entitled to vote thereon
were present and voted and shall be delivered (by hand or by
certified or registered mail, return receipt requested) to the
corporation by delivery to its registered office in the State of
Delaware, its principal place of business, or an officer or agent
of the corporation having custody of the book in which proceedings
of minutes of stockholders are recorded. Prompt notice of the
taking of the corporate action without a meeting by less than
unanimous written consent shall be given to those stockholders who
have not consented in writing. Section 1.11. Conduct of
Meetings. The Board of Directors of the corporation may adopt by
resolution such rules and regulations
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for the conduct of the meeting of stockholders as it shall deem
appropriate. Except to the extent inconsistent with such rules
and regulations as adopted by the Board of Directors, the chairman
of any meeting of stockholders shall have the right and authority
to prescribe such rules, regulations and procedures and to do all
such acts as, in the judgment of such chairman, are appropriate
for the proper conduct of the meeting. Such rules, regulations or
procedures, whether adopted by the Board of Directors or
prescribed by the chairman of the meeting, may include, without
limitation, the following: (i) the establishment of an agenda or
order of business for the meeting; (ii) rules and procedures for
maintaining order at the meeting and the safety of those present;
(iii) limitations on attendance at or participation in the meeting
to stockholders of record of the corporation, their duly
authorized and constituted proxies or such other persons as the
chairman of the meeting shall determine; (iv) restrictions on
entry to the meeting after the time fixed for the commencement
thereof; and (v) limitations on the time allotted to questions or
comments by participants. Unless and to the extent determined by
the Board of Directors or the chairman of the meeting, meetings of
stockholders shall not be required to be held in accordance with
the rules of parliamentary procedure.
ARTICLE II
Board of Directors
Section 2.1. Number; Qualifications. The Board of Directors
shall consist of not less than four nor more than fifteen members.
Within these limits, the authorized number of directors may be
reduced or increased from time to time by resolution of the Board
of Directors. Directors need not be stockholders.
Section 2.2. Election; Resignation; Removal; Vacancies.
Directors shall be elected at each annual meeting of the
stockholders to hold office for a term of one year or until his
successor is elected and qualified. Any director may resign at any
time upon written notice to the corporation. Any newly created
directorship or any vacancy occurring in the Board of Directors
for any cause may be filled by a majority of the remaining members
of the Board of Directors, although such majority is less than a
quorum, or by a plurality of the votes cast at a meeting of
stockholders, and each director so elected shall hold office until
the expiration of the term of office of the director whom he has
replaced or until his successor is elected and qualified.
Section 2.3. Regular Meetings. Regular meetings of the Board
of Directors may be held at such places within or without the
State of Delaware and at such times as the Board of Directors may
from time to time determine, and if so determined notices thereof
need not be given.
Section 2.4. Special Meetings. Special meetings of the Board
of Directors may be held at any time or place within or without
the State of Delaware whenever called by the President, any Vice
President, the Secretary, or by any member of the Board of
Directors. Notice of a special meeting of the Board of Directors
shall be given by the person or persons calling the meeting at
least twenty-four hours before the special meeting.
Section 2.5. Telephonic Meetings Permitted. Members of the
Board of Directors, or any committee designated by the Board of
Directors, may participate in a meeting thereof by means of
conference telephone or similar communications equipment by means
of which all persons participating in the
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meeting can hear each other, and participation in a meeting
pursuant to this by-law shall constitute presence in person at
such meeting.
Section 2.6. Quorum: Vote Required for Action. At all
meetings of the Board of Directors a majority of the whole Board
of Directors shall constitute a quorum for the transaction of
business. Except in cases in which the certificate of
incorporation or these bylaws otherwise provide, the vote of a
majority of the directors present at a meeting at which a quorum
is present shall be the act of the Board of Directors.
Section 2.7. Organization. Meetings of the Board of Directors
shall be presided over by the Chairman of the Board, if any, or in
his absence by the Vice Chairman of the Board, if any, or in his
absence by the President, or in their absence by a chairman chosen
at the meeting. The Secretary shall act as secretary of the
meeting, but in his absence the chairman of the meeting may
appoint any person to act as secretary of the meeting.
Section 2.8. Informal Action by Directors. Unless otherwise
restricted by the certificate of incorporation or these bylaws,
any action required or permitted to be taken at any meeting of the
Board of Directors, or of any committee thereof, may be taken
without a meeting if all members of the Board of Directors or such
committee, as the case may be, consent thereto in writing, and the
writing or writings are filed with the minutes of proceedings of
the Board of Directors or such committee.
ARTICLE III
Committees
Section 3.1. Committees. The Board of Directors may, by
resolution passed by a majority of the whole Board of Directors,
designate one or more committees, each committee to consist of one
or more of the directors of the corporation. The Board of
Directors may designate one or more directors as alternate members
of any committee, who may replace any absent or disqualified
member at any meeting of the committee. In the absence or
disqualification of a member of the committee, the member or
members thereof present at any meeting and not disqualified from
voting, whether or not he or they constitute a quorum, may
unanimously appoint another member of the Board of Directors to
act at the meeting in place of any such absent or disqualified
member. Any such committee, to the extent permitted by law and to
the extent provided in the resolution of the Board of Directors,
shall have and may exercise all the powers and authority of the
Board of Directors in the management of the business and affairs
of the corporation, and may authorize the seal of the corporation
to be affixed to all papers which may require it.
Section 3.2. Committee Rules. Unless the Board of Directors
otherwise provides, each committee designated by the Board of
Directors may make, alter and repeal rules for the conduct of its
business. In the absence of such rules each committee shall
conduct its business in the same manner as the Board of Directors
conducts its business pursuant to Article II of these bylaws.
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ARTICLE IV
Officers
Section 4.1. Executive Officers; Election; Qualifications;
Term of Office; Resignation; Removal; Vacancies. The Board of
Directors shall elect a Chief Executive Officer, President and
Secretary, and it may, if it so determines, choose a Chairman of
the Board and a Vice Chairman of the Board from among its members.
The Board of Directors may also choose one or more Vice
Presidents, one or more Assistant Secretaries, a Treasurer and one
or more Assistant Treasurers. Each such officer shall hold office
until the first meeting of the Board of Directors after the annual
meeting of stockholders next succeeding his election, and until
his successor is elected and qualified or until his earlier
resignation or removal. Any officer may resign at any time upon
written notice to the corporation. The Board of Directors may
remove any officer with or without cause at any time, but such
removal shall be without prejudice to the contractual rights of
such officer, if any, with the corporation. Any number of offices
may be held by the same person. Any vacancy occurring in any
office of the corporation by death, resignation, removal or
otherwise may be filled for the unexpired portion of the term by
the Board of Directors at any regular or special meeting. Any
rights or responsibilities of the President pursuant to these
Bylaws shall apply to the Chief Executive Officer.
Section 4.2. Powers and Duties of Executive Officers. The
officers of the corporation shall have such powers and duties in
the management of the corporation as may be prescribed in a
resolution by the Board of Directors and, to the extent not so
provided, as generally pertain to their respective offices,
subject to the control of the Board of Directors. The Board of
Directors may require any officer, agent or employee to give
security for the faithful performance of his duties.
ARTICLE V
Stock
Section 5.1. Certificates. Every holder of stock shall be
entitled to have a certificate signed by or in the name of the
corporation by the President or a Vice President, and by the
Treasurer or an Assistant Treasurer, or the Secretary or an
Assistant Secretary, of the corporation certifying the number of
shares owned by him in the corporation. Any of or all the
signatures on the certificate may be a facsimile. In case any
officer, transfer agent or registrar who has signed or whose
facsimile signature has been placed upon a certificate shall have
ceased to be such officer, transfer agent, or registrar before
such certificate is issued, it may be issued by the corporation
with the same effect as if be were such officer, transfer agent,
or registrar at the date of issue.
Section 5.2. Lost, Stolen or Destroyed Stock Certificates;
Issuance of New Certificates. The corporation may issue a new
certificate of stock in the place of any certificate theretofore
issued by it, alleged to have been lost, stolen or destroyed, and
the corporation may require the owner of the lost, stolen or
destroyed certificate, or his legal representative, to give the
corporation a bond sufficient to indemnify it against any claim
that may be made against it on account of the alleged loss, theft
or destruction of any such certificate or the issuance of such new
certificate.
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Section 5.3. Transfer of Stock. Shares of stock shall be
transferred only on the books of the Corporation by the holder
thereof in person or by his attorney upon surrender of the
Certificate of Stock properly endorsed.
ARTICLE VI
Indemnification
Section 6.1. Right to Indemnification. The corporation shall
indemnify and hold harmless, to the fullest extent permitted by
applicable law as it presently exists or may hereafter be amended,
any person who was or is made or is threatened to be made a party
or is otherwise involved in any action, suit or proceeding,
whether civil, criminal, administrative or investigative (a
"proceeding") by reason of the fact that he, or a person for whom
he is the legal representative, is or was a director or officer of
the corporation or is or was serving at the request of the
corporation as a director, officer, employee or agent of another
corporation or of a partnership, joint venture, trust, enterprise
or nonprofit entity, including service with respect to employee
benefit plans, against all liability and loss suffered and
expenses (including attorneys' fees) reasonably incurred by such
person. The corporation shall be required to indemnify a person in
connection with a proceeding (or part thereof) initiated by such
person only if the proceeding (or part thereof) was authorized by
the Board of Directors of the corporation.
Section 6.2. Prepayment of Expenses. The corporation may, in
its discretion, pay the expenses (including attorneys' fees)
incurred in defending any proceeding in advance of its final
disposition, provided, however, that the payment of expenses
incurred by a director or officer in advance of the final
disposition of the proceeding shall be made only upon receipt of
an undertaking by the director or officer to repay all amounts
advanced if it should be ultimately determined that the director
or officer is not entitled to be indemnified under this Article or
otherwise.
Section 6.3. Claims. If a claim for indemnification or
payment of expenses under this Article is not paid in full within
sixty days after a written claim therefor has been received by the
corporation, the claimant may file suit to recover the unpaid
amount of such claim and, if successful in whole or in part, shall
be entitled to be paid the expense of prosecuting such claim. In
any such action the corporation shall have the burden of proving
that the claimant was not entitled to the requested
indemnification or payment of expenses under applicable law.
Section 6.4. Non-Exclusivity of Rights. The rights conferred
on any person by this Article VI shall not be exclusive of any
other rights which such person may have or hereafter acquire under
any statute, provision of the certificate of incorporation, these
bylaws, agreement, vote of stockholders or disinterested directors
or otherwise.
Section 6.5. Other Indemnification. The corporation's
obligation, if any, to indemnify any person who was or is serving
at its request as a director, officer, employee or agent of
another corporation, partnership, Joint venture, trust, enterprise
or nonprofit entity shall be reduced by any amount such person may
collect as indemnification from such other corporation,
partnership, joint venture, trust, enterprise or nonprofit
enterprise.
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Section 6.6. Amendment or Repeal. Any repeal or modification
of the foregoing provisions of this Article VI shall not adversely
affect any right or protection hereunder of any person in respect
of any act or omission occurring prior to the time of such repeal
or modification.
ARTICLE VII
Miscellaneous
Section 7.1. Fiscal Year. The fiscal year of the corporation
shall be determined by resolution of the Board of Directors.
Section 7.2. Seal. The corporate seal shall have the name of
the corporation inscribed thereon and shall be in such form as may
be approved from time to time by the Board of Directors.
Section 7.3. Waiver of Notice of Meetings of Stockholders,
Directors and Committees. Any written waiver of notice, signed by
the person entitled to notice, whether before or after the time
stated therein, shall be deemed equivalent to notice. Attendance
of a person at a meeting shall constitute a waiver of notice of
such meeting, except when the person attends a meeting for the
express purpose of objecting, at the beginning of the meeting, to
the transaction of any business because the meeting is not
lawfully called or convened. Neither the business to be
transacted at nor the purpose of any regular or special meeting of
the stockholders, directors, or members of a committee of
directors need be specified in any written waiver of notice.
Section 7.4. Interested Directors; Quorum. No contract or
transaction between the corporation and one or more of its
directors or officers, or between the corporation and any other
corporation, partnership, association, or other organization in
which one or more of its directors or officers are directors or
officers, or have a financial interest, shall be void or voidable
solely for this reason, or solely because the director or officer
is present at or participates in the meeting of the Board of
Directors or committee thereof which authorizes the contract or
transaction, or solely because his or their votes are counted for
such purpose, if: (1) the material facts as to his relationship
or interest and as to the contract or transaction are disclosed or
are known to the Board of Directors or the committee, and the
Board of Directors or committee in good faith authorizes the
contract or transaction by the affirmative votes of a majority of
the disinterested directors, even though the disinterested
directors be less than a quorum; or (2) the material facts as to
his relationship or interest and as to the contract or transaction
are disclosed or are known to the stockholders entitled to vote
thereon, and the contract or transaction is specifically approved
in good faith by vote of the stockholders; or (3) the contract or
transaction is fair as to the corporation as of the time it is
authorized, approved or ratified, by the Board of Directors, a
committee thereof, or the stockholders. Common or interested
directors may be counted in determining the presence of a quorum
at a meeting of the Board of Directors or of a committee which
authorizes the contract or transaction.
Section 7.5. Form of Records. Any records maintained by the
corporation in the regular course of its business, including its
stock ledger, books of account, and minute books, may be kept on,
or be in the form of, punch cards, magnetic tape, photographs,
microphotographs, or any other information storage device,
provided that the records so kept can be converted into clearly
legible form within a reasonable time.
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Section 7.6. Amendment of Bylaws. These bylaws may be altered
or repealed, and new bylaws made, by the Board of Directors, but
the stockholders may make additional bylaws and may alter and
repeal any bylaws whether adopted by them or otherwise.
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SECRETARY'S CERTIFICATE OF ADOPTION OF BYLAWS
OF
FINET.COM, INC.
I, the undersigned, do hereby certify:
1. That I am the duly elected and acting Secretary of
FiNet.com, Inc., a Delaware corporation.
2. That the foregoing Bylaws constitute the Bylaws of said
corporation as duly adopted by the Directors of said corporation
on September 30, 1999, and that such Bylaws are in force and
effect.
IN WITNESS WHEREOF, I have hereunto subscribed my name this 30th,
1999 day of September, 1999.
/s/ Paige Lane
Paige A. Lane, Secretary
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FiNet.com CONSOLIDATES WESTERN BUSINESS UNITS IN NEW HEADQUARTERS
AT BISHOP RANCH TO EXPAND OPERATIONS
WALNUT CREEK, CA, September 15, 1999 - FiNet.com Inc. (NASDAQ:
FNCM) owner and operator of www.FiNet.com, "America's Home Finance
Network," today announced it has begun moving its corporate
headquarters from Walnut Creek, California, to the Bishop Ranch
office park in San Ramon, California. The company is consolidating
all West Coast divisions and departments, including Wholesale and
Retail lending, Finance and Accounting, Marketing, Information
Technology, Research and Development, Human Resources, Facilities,
and company Executives into one building. The West Coast retail
division has already been relocated to the new Electronic
Fulfillment Center at Bishop Ranch, while the remaining divisions
will move in phases through November 1999.
"This move enables FiNet.com to expand its operations, create a
high-tech Electronic Fulfillment Center, and build a technology
infrastructure unparalleled in the industry," said Mark Korell,
Chairman and CEO of FiNet.com.
The facility is also large enough to house FiNet.com's expanding
employee base. More than 160 FiNet.com employees will re-locate to
the Bishop Ranch location, with space available for more than 90
new employees the company expects to hire over the next eighteen
months.
The company has leased 40,000 square feet of office space at
Bishop Ranch 7, located at 2527 Camino Ramon, Suite 200. Bishop
Ranch is a well-known hub for high-tech businesses and large
corporations such as Pacific Bell, Chevron, PeopleSoft, Lucent
Technologies and NextCard. FiNet.com management hopes to draw from
the highly skilled labor market in the San Ramon Valley.
"There are many benefits to this strategic move to Bishop Ranch,"
said Tom Porter, EVP, Administration for FiNet.com. "We've been
able to secure a premier location, excellent technology
infrastructure, and favorable financial terms."
About FiNet.com
FiNet.com, Inc., "America's Home Finance Network" including its
wholly owned subsidiaries (the "Company"), is a leading provider
of e-commerce home financing services that facilitates home
ownership through a variety of technology-based products and
automated services for consumers and mortgage broker businesses.
The Company offers automated financing solutions directly to
consumers through its www.interloan.com on-line home financing web
site and to mortgage broker businesses through Monument Mortgage.
Safe Harbor
Certain statements in this press release, including statement
regarding the anticipated development and expansion of the
Company's business, and the intent, belief or current expectations
of the Company, its directors or its officers, are "forward-
looking" statements (as such term is defined in the Private
Securities Litigation Reform Act of 1995). Because such statements
are subject to risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements.
<PAGE> 14
FiNet.com TO ANNOUNCE RESULTS FOR PERIOD ENDING OCTOBER 31, 1999 -
Company announces change to fiscal calendar year effective January
1, 2000
WALNUT CREEK, CA, November 9, 1999 - FiNet.com Inc. (NASDAQ: FNCM)
owner and operator of www.FiNet.com, "America's Home Finance
Network," today announced that on December 7, 1999 it will release
results from the period ending October 31, 1999. The company will
issue a press release and hold a conference call for investors on
Tuesday, December 7, 1999, at 4:30 p.m. Eastern time.
The conference call can be accessed by calling 888-316-9406 from
the continental U.S., and 415-228-4729 internationally. A replay
of the call will be available through December 10, 1999 by calling
800-627-9894 from the continental U.S., and 402-220-0238
internationally. The call will also be simulcast over the Internet
on the Vcall web site at http://www.vcall.com. Listeners should go
to the web site before the call and download the necessary audio
software.
FiNet.com Chairman and CEO, Mark Korell is the host of the
conference call. The passcode to participate is FiNet.
FiNet.com also announced that it will change its financial
reporting period from a fiscal year to a calendar year, with
quarterly reporting on calendar quarters. FiNet.com's most recent
fiscal year ended April 30, 1999. There will be a transition
period consisting of the eight-month period ending December 31,
1999, and the company expects to report its results for the final
three months of 1999. The new reporting year will begin January 1,
2000, with the first quarter of the 2000 reporting year ending
March 31, 2000.
About FiNet.com
FiNet.com, Inc., "America's Home Finance Network" including its
wholly owned subsidiaries (the "Company"), is a leading provider
of e-commerce home financing services that facilitates home
ownership through a variety of technology-based products and
automated, multi-lender services for consumers and mortgage broker
businesses. The Company offers automated financing solutions
directly to consumers through its www.interloan.com on-line home
financing web site and to mortgage broker businesses through
Monument Mortgage.
Safe Harbor
Certain statements in this press release, including statements
regarding the anticipated development and expansion of the
Company's business, and the intent, belief or current expectations
of the Company, its directors or its officers, are
"forwardlooking" statements (as such term is defined in the
Private Securities Litigation Reform Act of 1995). Because such
statements are subject to risks and uncertainties, actual results
may differ materially from those expressed or implied by such
forward-looking statements.
