SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 20, 2000
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QueryObject Systems Corporation
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(Exact name of registrant as specified in its charter)
Delaware 1-13587 94-3087939
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
One Expressway Plaza, Suite 208, Roslyn Heights, New York 11577
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(Address of principal executive offices)
Registrant's telephone number, including area code: (516) 228-8500
N/A
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(Former name or former address, if changed since last report.)
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Item 5. Other Events.
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On April 20, 2000, QueryObject Systems Corporation (the "Company")
issued a press release announcing the closing of a private placement in its
subsidiary, internetQueryObject Corporation ("IQO"). The text of the press
release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
As a result of the private placement, the Company will hold 53.3% of IQO's
Common Stock, assuming the conversion into IQO Common Stock, of all Series A
Preferred Stock, issued in the private placement.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
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(c) Exhibits.
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99.1 Press release of the Company, dated April 20, 2000.
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SIGNATURE
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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.
QUERYOBJECT SYSTEMS CORP.
Dated: April 28, 2000 By: /s/ Daniel Pess
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Name: Daniel Pess
Title: Executive Vice President,
Chief Operating Officer and
Chief Financial Officer
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Contacts:
Mark Williams Daniel Pess
Harpell/Martins QueryObject Systems Corporation
978-889-1424 516-228-8500 x123
[email protected] [email protected]
QUERYOBJECT INTERNET SUBSIDIARY COMPLETES $7 MILLION SEED ROUND
internetQueryObject Corporation Receives Funding to Develop
Analytical Ecosystem for Information Economy
Roslyn Heights, N.Y. - April 20, 2000 - QueryObject Systems Corporation (OTC:
QOSC; BSE: QOB) announced today that it had closed a private placement totaling
gross proceeds of $7,000,000 in its subsidiary, internetQueryObject Corporation.
internetQueryObject Corporation issued Series A Convertible Preferred Stock, in
aggregate convertible into 8,750,000 shares of its common stock and Common Stock
Purchase Warrants exercisable for a period of one year at a 25% premium over the
cost of the Preferred Stock, to acquire the same amount of shares. The financing
included both existing QueryObject investors and new investors.
internetQueryObject Corporation will use the funds to develop a portfolio of
B-to-B products, services and partnerships, based on the QueryObject technology,
that will help e-Businesses increase profitability by better managing and
understanding the behavior of their markets and customers.
The securities offered and sold in the Private Placement have not been
registered under the Securities Act of 1933, as amended, and may not be offered
or sold in the United States by the holders thereof, absent registration or an
applicable exemption from registration requirements.
About QueryObject Systems Corporation
QueryObject Systems Corporation is a publicly held company headquartered in
Roslyn Heights, New York with a European distribution subsidiary headquartered
in Reading, the United Kingdom. Its scalable Business Intelligence products are
available worldwide through a network of authorized distributors.
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About internetQueryObject Corporation
internetQueryObject Corporation (doing business as iQO.com), also headquartered
in Roslyn Heights, is a subsidiary of QueryObject Systems Corporation
specializing in analytical applications for web analysis and e-Commerce.
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QueryObject, QueryObject Analyzer, internetQueryObject, iQO, and iQO.com are
trademarks of QueryObject Systems Corporation. QueryObject System is a
registered trademark of QueryObject Systems Corporation. All other trademarks
and registered trademarks referenced in this document are the property of their
respective holders.
This press release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, which are intended to be
covered by the safe harbors created hereby. Investors are cautioned that all
forward-looking statements involve risks and uncertainty, including without
limitation, the Company's development as a software products company, and the
ability of certain partnerships to aid in that growth; the capability of the
company's products to perform as optimized analytical data marts; and the
ability of the company's products to support the performance of other business
intelligence tools. Although the Company believes that the assumptions
underlying the forward-looking statements contained herein are reasonable, any
of the assumptions could be inaccurate, and therefore, there can be no assurance
that the forward-looking statements included in this press release will prove to
be accurate. In light of the significant uncertainties inherent in the
forward-looking statements included herein, the inclusion of such information
should not be regarded as a representation by the Company or any other person
that the objectives and plans of the Company will be achieved.
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