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: October 5, 2000
(Date of earliest event reported)
ETRAVNET.COM, INC.
Exact name of registrant as specified in its charter)
New York 0-18412 11-2602120
-------- ------- ----------
(State or other (Commission (IRS Employer
Jurisdiction of File Number) Identification
Incorporation) Number)
560 Sylvan Avenue, Englewood Cliffs, New Jersey 07632
----------------------------------------------- -----
(Address of principal executive offices) (Zip Code)
(201) 567-8500
--------------
(Registrant's Telephone Number Including Area Code)
<PAGE>
Item 5. Other Events: Possible Strategic Alliance. On October 5, 2000
ETRAVNET.COM, Inc. entered into a letter of intent pursuant to which a major
global distribution system ("GDS") intends to purchase 857,000 shares,
approximately 13%, of our common stock at a per share price of $3.50. To
compensate such GDS, based on its tactical and strategic contributions to our
business and growth, we will discuss and agree to additional stock options
and/or warrants before formal and final agreement. We also envision defining the
usage and potential exclusivity of acquired content. In addition to the share
purchase, we have agreed to license our ReZconnect/Haggle technology to this
contemplated GDS purchaser for its use in conjunction with its businesses and
joint ventures; we will receive a negotiated percentage of revenue generated on
usage of the technology in lieu of an up-front licensing fee. In addition, we
have agreed to offer one seat on our Board of Directors to a representative of
the GDS, bringing the total number of directors to five. We have further agreed
to provide the GDS first right of refusal on offers of our securities made to
competitive global distribution systems. Because such letter serves merely as a
statement of intent of the parties and does not constitute a legally binding
agreement, we can give no assurances the purchase and associated terms will be
completed.
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
ETRAVNET.COM, INC.
By: /s/ Michael Y. Brent
--------------------------
Michael Y. Brent, President
Dated: October 23, 2000
