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 OF 1934
Date of Report: February 11, 1998
INTERNATIONAL NURSING SERVICES, INC
(Exact name of registrant as specified in its charter)
Colorado 000-24768 84-1123311
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
360 South Garfield Street, Suite 400, Denver, Colorado 80209
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 393-1515
None
(Former name or former address, if changes since last report)
Item 1. Changes in Control of Registrant. N/A.
Item 2 . Acquisition or Disposition of Assets. N/A
Item 3. Bankruptcy or Receivership. N/A.
Item 4. Changes in Registrant's Certifying Accountant. N/A.
Item 5. Other Events. Press Release, dated February 9, 1998 announcing the
cancellation of plans for a reverse stock split, and also announcing a change
of company name and tickler symbol.
Item 6. Resignations of Registrant's Directors. N/A.
Item 7. Financial Statements and Exhibits.
(a) Exhibits
Exhibit 99.1 Press Release announcing the cancellation
of plans for a reverse stock split, and also announcing a change of company
name and tickler symbol.
Item 8. Change in Fiscal Year. N/A.
Item 9. Sales of Equity Securities Pursuant to Regulation S. N/A.
<PAGE>
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.
INTERNATIONAL NURSING SERVICES, INC.
Date: February 11, 1998 By: /s/ John P. Yeros
------------
John P. Yeros, President
and Chief Executive Officer
Company Contact: Investor Relations:
International Nursing Services, Inc. Lippert/Heilshorn & Associates, Inc.
John P. Yeros Keith L. Lippert ([email protected])
(303) 393-1515 Sue Yeoh ([email protected])
(212) 838-3777
Bruce Voss ([email protected])
(310) 575-4848
FOR IMMEDIATE RELEASE
INTERNATIONAL NURSING SERVICES CANCELS PLANS FOR REVERSE STOCK SPLIT
- - Company Changes Name and Ticker Symbol -
DENVER (February 9, 1998) - International Nursing Services, Inc. (NASDAQ:
NURS) today announced that the company's Board of Directors have decided not
to effect a reverse stock split, as previously announced and approved by the
company's stockholders. The company will, however, change its name to Medix
Resources, Inc. and its NASDAQ ticker symbol to "MDIX," effective February 18,
1998.
John P. Yeros, chairman, stated, "After serious deliberation with major
shareholders and market professionals, the company's Board of Directors have
decided to forgo its plans to effect a reverse stock split. While the
company's stock has traded below $1.00 per share for more than the past nine
months, we believe that a reverse stock split is not in the best interest of
our shareholders at this time. We have been working in close cooperation with
representatives of the NASDAQ SmallCap Market to comply with their listing
requirements. Our plans are to hold a shareholder meeting in May 1998 and
revisit our options at that time. We look forward to reporting on our
progress in the near future."
"The name change to Medix Resources represents an important step for the
company as we seek to create unique market identification as a medical
resources company in both the supplemental staffing and medical information
management industries. The company's new name and ticker symbol also serve to
reinforce the company's growth strategy and facilitate the expansion of our
business throughout the United States," added Yeros.
International Nursing Services is a medical resources company with two
synergistic lines of business. The company provides skilled nursing, therapy,
rehabilitation and other medical personnel for flexible staffing in home care
and in a broad spectrum of healthcare and educational facilities. Through its
wholly owned subsidiary, Cymedix Lynx Corporation, the company also offers
Cymedix Lynx, a secure, patented medical communications product that makes use
of the Internet. Using Cymedix Lynx, medical professionals can order,
prescribe and access medical information from insurance companies and managed
care organizations, as well as from any participating outpatient service
provider such as a laboratory, radiology center, pharmacy or hospital. The
company has offices in Denver, Houston and San Antonio, Tex., Emeryville and
Ontario, Calif., and Yonkers and the Bronx, N.Y.
# # #
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: The statements contained in this release which are not historical facts
contain forward-looking information with respect to plans, projections and/or
future performance of the Company, the occurrence of which involve certain
risks and uncertainties detailed in the Company's filings with the Securities
and Exchange Commission. Reference is made to the Quarterly Report on form
10-QSB filed with the SEC on November 14, 1997.
