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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.
October 6, 2000
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Date of Report (Date of earliest event reported)
Cyclo3pss Corporation
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(Exact name of Registrant as specified in its charter)
Delaware 0-22720 87-0455642
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State of Commission File No. IRS Employer
Incorporation Identification No.
3646 West 2100 South
Salt Lake City, UT 84120
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(Address of principal executive offices)
(801) 972-9092
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(Registrant's telephone number)
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Item 2. Acquisition or Disposition of Assets
On October 6, 2000, Cyclo3pss Corporation ("Cyclo3pss") entered into a
"Term Sheet/Letter of Agreement" to acquire OxiDyn Incorporated, North Carolina
corporation ("OxiDyn"). OxiDyn manufactures and sells patented proprietary ozone
sanitation systems to the food and beverage industries. Incorporated in 1991,
OxiDyn provides proprietary ozonation systems for cleaning lines and tanks in
beverage plants, as well as for rinsing containers prior to filling. OxiDyn's
current customer list include The Procter & Gamble Co., Pepsi-Cola and several
of its franchisees, the Dannon Group, as well as other bottling operations and
related industries. OxiDyn's container rinsing units use ozonated water as an
effective and efficient sanitizing rinse prior to filling the containers with
products such as bottled water, sodas, and fruit juices.
The acquisition is subject to a number of conditions including the
completion of due diligence by each party. Although management of Cyclo3pss
anticipates that the acquisition will be completed, there can be no assurance
that all conditions to the acquisition will be met or that the acquisition will
be effected.
As part of the acquisition, it is anticipated that John Winings, the CEO
of OxiDyn, will be appointed as the CEO of Cyclo3pss. It is also anticipated
that upon completion of the acquisition, Cyclo3pss current CEO, William R.
Stoddard will continue as president of Cyclo3pss.
It is anticipated that OxiDyn will operate as a wholly-owned subsidiary of
Cyclo3pss.
Item 7. Financial Statements and Exhibits
Attached here to is a copy of the Term Sheet/Letter Agreement executed by
Cyclo3pss and OxiDyn.
SIGNATURE
Pursuant to the requirements of the Securities Act of 1934, the Registrant
has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
Cyclo3pss Corporation
Date: November 29, 2000
By: /s/ William R. Stoddard
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William R. Stoddard
Chief Executive Officer
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