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 (date of earliest event reported): May 5, 2000
EVTC, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-20986 22-3005943
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
121 S. Norwood Drive, Hurst, Texas 76053
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(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code: (817) 282-0022
N/A
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(Former name or former address, if changed since last report)
<PAGE>
Item 1. Changes in Control of Registrant
Not Applicable
Item 2. Acquisition or Disposition of Assets
On May 5, 2000, EVTC, Inc., t/a Environmental Technologies Corp., (the
"Company") announced that it has entered into an Agreement to acquire
Refrigerant Management Services, Inc. of Phoeniz, Arizona. A copy of the press
release announcing the acquisition is attached. as an exhibit to this Current
Report.
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
(a) Financial statements of business acquired.
Not Applicable
(b) Pro forma financial information
Not Applicable
(c) Exhibits
99 - Press Release dated May 5, 2000
Item 8. Change in Fiscal Year
Not Applicable
<PAGE>
SIGNATURE
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.
EVTC, INC.
By: /s/ David Keener
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David Keener, President &
Chief Financial Officer
Dated: May 10, 2000
<PAGE>
EXHIBIT 99
Environmental Technologies Corp. Acquires Refrigerant Management Services, Inc.
Located in Phoenix Arizona Hurst, Texas - May 5, 2000
Environmental Technologies Corp. (NASDAQ: EVTC) today announced the
acquisition of Refrigerant Management Services, Inc. of Phoenix Arizona (RMS).
RMS is the dominant refrigerant reclaimer and service provider in the South
Western portion of the United States with operations in Phoenix, Tucson, Los
Angeles, San Diego and Western Michigan.
RMS and its founders Richard Dykstra and William Palmer have spent the last
8 years developing and refining a business model that incorporates the use of
custom built recovery trucks that economically and profitably provide enhanced
onsite refrigerant recovery and cylinder pump down services for wholesalers,
contractors and large end users. The current RMS business model when combined
with the large existing revenue and infrastructure of the company's Full Circle
Refrigerant Management Division will allow the company to quickly and profitably
expand RMS's on site service model to other large metropolitan areas across the
country.
David A. Keener, President of EVTC, commented, "The onsite premium services
offered by RMS when combined with our Full Circle Refrigerant Division's
existing reclamation and refrigerant operations will truly allow us to provide a
complete refrigerant solutions program to customers across the country. In
addition, a large portion of RMS's revenues are derived from service and
non-refrigerant sales that will significantly reduce the seasonality of our
current refrigerant operations and improve our current operating expense
percentages and profitability."
Under the terms of the purchase agreement RMS received an undisclosed
amount of cash, stock and notes at closing. The agreement also provides for a
significant contingent earn-out based on actual profit earned over the next
three years.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995: Certain statements contained in this press release are "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995, including without limitation, the Company's industry position,
financial condition and structure. Such forward-looking statements are subject
to risks, uncertainties and other factors that could cause actual results to
differ materially from future results expressed or implied by such
forward-looking statements. Investors are cautioned that any forward-looking
statements are not guarantees of future performance and involve risks and
uncertainties and that actual results may differ materially from those
contemplated by such forward-looking statements. Such risks include, without
limitation, risks associated with the Company not being able to successfully
implement its new strategies, the risk that new acquisitions, if any, will not
be successfully integrated into the Company, the seasonality of the Company's
sales, the Company's competition, the Company dependence on supplier
relationships and risks related to the Company's borrowings.
CONTACT: EVTC, Inc. t/a Environmental Technologies, Corp.
Investor Relations
Phone (817) 282-0022
Fax (817) 282-0033
[email protected]
