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): December 12, 2000
SIBONEY CORPORATION
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(Exact Name of Registrant as Specified in its Charter)
Maryland 1-3952 73-0629975
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
325 North Kirkwood Road, Suite 310
P.O. Box 221029, St. Louis, Missouri 63122
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(Address of Principal Executive Offices) (Zip Code)
(314) 822-3163
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(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report.)
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ITEM 5. OTHER INFORMATION
On December 12, 2000, Siboney Corporation announced that Siboney Learning Group,
its wholly owned subsidiary, has signed a Purchase Agreement to purchase the
stock of Activity Records and in so doing, to acquire Educational Activities'
software product line. It is anticipated that this acquisition will close on
January 2, 2001. Educational Activities will continue to publish its audio and
video product lines.
Educational Activities Software is well respected in the adult, community
college and K-12 markets for its skills-focused educational software in reading,
language, mathematics, science and English as a Second Language (ESL). Its
best-selling Diascriptives Reading series has received numerous awards from
software review organizations. The company has also published several software
tool programs, including its Learning Styles Inventory program that quickly
assesses students' learning style preferences.
Siboney Learning Group will maintain and support Educational Activities
Software's current network of sales representatives who call on K-12 schools,
community colleges, correctional facilities and community-based literacy
organizations. In addition, Siboney Learning Group expects to sell a few
Educational Activities Software products through selected dealers and sales
representatives that currently sell Siboney Learning Group's Orchard, GAMCO, and
Teacher Support Software product lines. Siboney Learning Group is also committed
to upgrading Educational Activities Software's management system and to
exploring how to deliver Educational Activities Software's programs via the
Internet.
Tim Tegeler, Chairman of Siboney Corporation, commented, "Siboney Learning Group
is, enjoying another year of strong internal growth in sales and profits through
our Orchard Teacher's Choice Software and GAMCO product lines. I am confident
that our talented team will be able to grow Educational Activities Software
sales and continue to upgrade their product line as they have done so
successfully with our own products and recently acquired products from Teacher
Support Software."
Bodie Marx, President of Siboney Leaning Group, added, "The addition of
Educational Activities Software to our growing portfolio of products will allow
us to reach the adult and alternative education markets where we do minimal
business today. I have always admired the effectiveness and depth of their
products. I look forward to working with Alan Stem whose vast experience in
these markets will serve us well in the future and who will continue with us as
Sales Director of Educational Activities Software."
Any forward-looking statement is necessarily subject to significant
uncertainties and risks. The words "believes", "anticipates", "intends",
"expects" and similar expressions are intended to identify forward-looking
statements. Actual results could be materially different. The Company undertakes
no obligation to publicly release the results of any Revisions to these
forward-looking statements which may be made to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated events.
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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.
Dated: December 12, 2000
SIBONEY CORPORATION
By: /s/ Rebecca Braddock
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Rebecca Braddock,
Vice President
