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):
November 23, 1999
MathSoft, Inc.
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(Exact name of Registrant as specified in its charter)
Massachusetts 0-020992 04-2842217
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(State or jurisdiction (Commission (IRS Employer
of Incorporation) File number) Identification No.)
101 Main Street
Cambridge, Massachusetts
(Address of principal 02142
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executive offices) (Zip Code)
(617) 577-1017
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Registrant's telephone number, including area code
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Item 5. Other Events.
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FreeScholarships.com was incorporated in June 1999 as a wholly owned subsidiary
of MathSoft Incorporated. Its objective is to create and leverage a high volume
destination web site for students and their family members. The company's
mission is to assist families in meeting the rising costs of a quality
education.
In order to attract traffic to its content-rich web site, FreeScholarships.com
will give away money for school using a variety of online mechanisms. The
company anticipates that these mechanisms will encourage repeat traffic.
FreeScholarships.com plans to generate revenue from a variety of sources,
including sponsorships, commerce and advertising.
Prior to becoming cash flow positive, this new venture will require a
significant amount of cash to fund its marketing, development and infrastructure
costs. MathSoft has invested $3.0 million in FreeScholarships.com in a
Convertible Preferred Series "A" security and currently anticipates investing an
additional $2.0 million. Management for MathSoft and FreeScholarships.com are
exploring a variety of approaches for meeting FreeScholarships.com's cash needs
beyond this first $5.0 million of investment.
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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.
MATHSOFT, INC.
November 23, 1999 By: /s/ Robert P. Orlando
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Robert P. Orlando
Chief Financial Officer
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